The United States will impose a 35% tariff on Canada
U.S. President Trump informed Canada on Friday (July 11) that starting August 1, a 35% tariff will be imposed. Trump stated that this tariff may be adjusted, either increased or decreased, depending on U.S.-Canada relations. Trump also sent tariff letters to more countries, including Libya, Iraq, and the Philippines.
Ghana requires virtual asset companies to complete registration by August 15
The Bank of Ghana recently issued a notice requiring all virtual asset service providers (VASP) operating locally to complete registration by August 15, or they will face the risk of suspension or termination of operations. This move aims to strengthen the regulation of cryptocurrencies and related transactions, prevent illegal activities such as money laundering and terrorist financing, and enhance the transparency and security of the financial system. The Ghanaian government stated that it will continue to improve the regulatory framework for the virtual asset industry in the future, promoting healthy development in a legal and compliant environment.
National Financial and Development Laboratory: Suggests exploring RMB stablecoin simultaneously in Shanghai and Hong Kong
This week, the National Financial and Development Laboratory of China released a suggestion to consider promoting the innovative exploration of RMB stablecoins simultaneously in the Shanghai Free Trade Zone and Hong Kong, further enhancing the internationalization of the RMB and improving the convenience of cross-border payments and financial openness.
Elon Musk's xAI launches Grok 4
Elon Musk's artificial intelligence company xAI officially released the next-generation large model Grok 4. It is reported that Grok 4 has achieved significant improvements in dialogue capabilities, reasoning, and multimodal processing, aiming to compete with cutting-edge AI models from companies like OpenAI and Google. Musk stated that the Grok series will be deeply integrated into the X platform, with plans to expand into more application scenarios in the future.
DeFi protocol GMX suffers approximately $42 million vulnerability attack
The decentralized exchange GMX's GLP liquidity pool on the Arbitrum chain was attacked by hackers, with approximately $40 million to $42 million in funds stolen. Security agencies such as PeckShield reported that the attackers exploited a malicious smart contract to extract liquidity by minting an abnormal amount of GLP tokens, involving various assets including ETH, USDC, WBTC, WETH, LINK, UNI, and FRAX.
After the incident, GMX immediately suspended all trading on the V1 platform, as well as the minting and redemption functions of GLP tokens, and implemented restrictions to ensure the safety of GMX V2 and the GMX token itself. The platform also proposed a "white hat bounty program," promising to waive legal prosecution and pay a 10% bounty (approximately $4.2 million) if the attackers return the remaining funds.
Currently, approximately $9.6 million has been observed transferred to the Ethereum mainnet, while the rest remains on the Arbitrum chain.
Nvidia's stock price soars, market value reaches a historic high of over $4 trillion
Nvidia (NVDA) stock has been rising continuously, reaching approximately $164 during intraday trading on July 9, pushing its market value past the $4 trillion mark, making it the first publicly traded company in the world to reach this scale.
Industry analysts point out that Nvidia's rise sets a new height for the technology industry, with its stock now accounting for about 7% of the S&P 500 index, significantly impacting the overall market trend. Despite concerns over export restrictions to China and market competition, the market generally remains optimistic about the continued demand for its AI chips and potential expansion paths, including supercomputing, data centers, and autonomous driving.
Truth Social submits S-1 application for "Crypto Blue Chip ETF" covering mainstream coins like BTC, ETH, and SOL
Trump's social media platform Truth Social's parent company, Trump Media & Technology Group (TMTG), submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) on July 8, applying to launch a cryptocurrency fund named "Truth Social Crypto Blue Chip ETF." The fund intends to trade on the New York Stock Exchange Arca, directly holding assets in trust, with an initial holding ratio of 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP.
If approved, the fund will provide investors with a way to participate in mainstream digital assets without directly holding coins, and it may further influence the regulatory and compliance direction of the U.S. cryptocurrency market.
TON Foundation staking incident regarding "UAE Golden Visa" turns out to be a misunderstanding; follow-up: only in exploratory stage
Recently, the TON Foundation announced a plan stating that "by staking $100,000 worth of TON tokens and paying a $35,000 fee, one could obtain a 10-year UAE Golden Visa," which sparked community discussions and briefly boosted the price of Toncoin. However, this news was quickly denied by UAE officials, stating that there is no digital asset staking that can directly exchange for a Golden Visa, emphasizing that the related project does not have any official backing.
The TON Foundation subsequently clarified that the project is an "independent exploratory nature" with a licensed partner and is in the preliminary development stage, with no formal agreement signed with the government.
Tether's gold hoarding action: nearly 80 tons of gold reserves revealed
According to the latest disclosures, stablecoin issuer Tether holds approximately 80 tons of gold in a highly confidential self-built vault in Switzerland, with a total value of $8 billion, making it one of the largest private gold holders in the world. Previously, its CEO Paolo Ardoino also revealed that Tether is building a diversified reserve strategy with physical gold and Bitcoin to enhance the asset stability and market confidence of USDT.
Additionally, Tether has already tokenized approximately 7.7 tons of gold through its XAUT product, achieving "digital gold" backing.
Pump.fun token sale will start on July 12, with a target amount of $600 million
The Solana ecosystem meme coin issuance platform Pump.fun will conduct a token sale on July 12, with a total sales target of up to $600 million, attracting widespread market attention. Pump.fun has gained rapid popularity this year due to its extremely low listing threshold and the meme coin craze, but it has also faced controversies due to security vulnerabilities and compliance issues. This token sale is seen as an important step for further expansion, with the official statement indicating that the funds raised will be used for platform function upgrades, community incentives, and ecological expansion.
The United States will start "Crypto Week" on July 14 and vote on three cryptocurrency bills
The U.S. House of Representatives will kick off "Crypto Week" on July 14, and lawmakers will vote on three potentially transformative pieces of legislation for the digital asset industry: the "GENUIS Act," the "Clarity Act," and the "Anti-CBDC Surveillance State Act."
Cryptocurrency lawyer John Deaton believes that if these bills are signed into law, the likelihood of any government changing policies in the future will be "very small."
Token Unlocking
Starknet will release 127 million STRK tokens on July 15, accounting for approximately 3.53% of the current circulating supply.
Onyxcoin will release 296.38 million XCN tokens on July 15, accounting for approximately 0.86% of the current circulating supply.
Sei will release 55.56 million SEI tokens on July 15, accounting for approximately 1% of the current circulating supply.
EigenCloud will release 1.29 million EIGEN tokens on July 15, accounting for approximately 0.41% of the current circulating supply.
Arbitrum will release 92.65 million ARB tokens on July 16, accounting for approximately 1.87% of the current circulating supply.
ZKsync will release 173.08 million ZK tokens on July 17, accounting for approximately 2.41% of the current circulating supply.
ApeCoin will release 15.6 million APE tokens on July 17, accounting for approximately 1.95% of the current circulating supply.
Official Trump will release 90 million TRUMP tokens on July 18, accounting for approximately 45% of the current circulating supply.
Fasttoken will release 20 million FTN tokens on July 18, accounting for approximately 4.64% of the current circulating supply.
Moca Network will release 2.43 million MOCA tokens on July 18, accounting for approximately 0.07% of the current circulating supply.
Euler will release 32.1 million EUL tokens on July 18, accounting for approximately 0.17% of the current circulating supply.
Tribal Token will release 9.6 million TRIBL tokens on July 19, accounting for approximately 6.11% of the current circulating supply.
LayerZero will release 25.71 million ZRO tokens on July 20, accounting for approximately 23.13% of the current circulating supply.
Related: Bitcoin (BTC) and Ethereum (ETH) ETFs set a record for the second-largest single-day inflow of funds
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