CLARITY Act 2026年通过概率降至30%，美国参议员Jon Husted表态支持
Related
Opinion: South Korea has not yet truly entered the stablecoin market; it needs to first answer why it is worthwhile to use it.
According to Odaily Odaily, Yoon Seung-sik, head of Tiger Research, stated that the South Korean won stablecoin market does not yet have a real place, not because it lacks potential, but because South Korea has not yet experienced enough market practice and discussion. Unlike the United States, which has undergone years of trial and error, regulation, and market evolution in the field of stablecoins, related discussions in South Korea are just beginning. South Korea's financial infrastructure is already very well-developed, and the real challenge lies in answering "why consumers need to use won stablecoins." Yin Chengzhi believes that the core keywords for the digital asset industry in the first half of this year were stablecoins, tokenization, and RWA. While AI Agents and DeFi have long-term potential, they are still far from large-scale implementation. Stablecoins and tokenization, on the other hand, have accumulated numerous global case studies, driving more institutions to accelerate their entry. It is expected that the digital asset market in the second half of the year will continue to focus on regulatory developments, the actual effectiveness of stablecoins and RWA implementation, and new retail market narratives. (Etoday)
Vanguard Group establishes its first head of digital assets position
According to Mars Finance, on July 8th, Vanguard Group, the world's second-largest asset management company (managing approximately $12 trillion in assets), created its first Head of Digital Assets position, responsible for developing the company's long-term crypto and blockchain strategy. This role will assess areas such as tokenization, stablecoins, digital wallets, custody, and blockchain settlement, and determine whether Vanguard should build its own capabilities, partner with external entities, or postpone entry into certain markets. The position requires developing multi-year roadmaps and designing governance and risk frameworks. Vanguard stated that this hiring does not indicate an upcoming launch of crypto products and currently has no plans to issue its own crypto investment vehicles.
Asset management giant Vanguard is hiring its first head of digital assets to evaluate strategies including tokenization and stablecoins.
PANews reported on July 8th that, according to Bitcoin Magazine, Vanguard, the world's second-largest asset manager (with approximately $12 trillion in assets under management), has created its first-ever Head of Digital Assets position, responsible for developing the company's long-term crypto and blockchain strategy. This role will evaluate areas such as tokenization, stablecoins, digital wallets, custody, and blockchain settlement, and determine whether Vanguard should build its own capabilities, partner with external entities, or postpone entry into certain markets. The position will involve developing multi-year roadmaps and designing governance and risk frameworks. Vanguard stated that this hiring does not indicate an upcoming launch of crypto products and that it currently has no plans to issue its own crypto investment vehicles.
Naver's $9.9 billion stock swap deal with Dunamu has been delayed again until the end of the year, while South Korea's digital asset law remains unresolved.
According to BlockBeats, on July 7, Naver Financial and Dunamu postponed the completion date of their full share swap transaction to December 31, marking the second delay in the deal. The deal to merge Dunamu, the operator of South Korea's largest crypto exchage Upbit, into Naver's financial sector was originally scheduled to close on September 30. Dunamu disclosed a new timeline on the 6th through corrections to its initial filing last November, but incomplete digital asset legislation and pending antitrust reviews remain major uncertainties. The company has postponed its extraordinary general meeting of shareholders from August 18 to November 19, and the shareholder confirmation date has been reset to October 22. Several government approvals are still required before the transaction can be completed, including approval from the Korea Fair Trade Commission (FTC) for the merger, approval for the change of Naver Financial's largest shareholder under credit information regulations, and acceptance of the filing for the change of Dunamu's largest shareholder under specific financial transaction information laws. Dunamu stated that progress at any of these stages could further extend the timeline or even cause the transaction to change. Dunamu also pointed out that the Digital Assets Basic Law, currently under consideration in Congress, is a real variable affecting the progress and outcome of transactions. As this bill is being enacted, regulators are also simultaneously considering implementing bank-style no-fault liability rules for exchanges, requiring platforms to compensate users for losses caused by hacker attacks.
At the opening of the US stock market, the Dow Jones Industrial Average rose 0.09%, while the Nasdaq Composite Index fell 0.6%.
According to Mars Finance, Gate.com data shows that at the opening of the US stock market, the Dow Jones Industrial Average rose 0.09%, the S&P 500 fell 0.22%, and the Nasdaq Composite fell 0.6%. Chip stocks continued their pullback, with SanDisk down 6.5%, Western Digital down 6.7%, and Micron Technology down 6.07%. SpaceX was officially included in the Nasdaq 100 index today, and its stock price fell 1.7%.
Wintermute: Bitcoin's rise is more in line with the characteristics of a "relief rally" than the start of a new bull market.
According to Mars Finance, on July 7th, Wintermute released a market analysis stating that the latest US non-farm payroll data significantly missed market expectations, coupled with Warsh's speech being interpreted as dovish, driving a general rebound in global risk assets, with the crypto market performing the best. Bitcoin and Ethereum have both significantly outperformed the S&P 500 and Nasdaq indices recently. Bitcoin's current rally has a more solid foundation, mainly driven by continued whale buying, options fund flows towards call options, and improved on-chain data. The end of net outflows from Bitcoin spot ETFs also boosted market sentiment. The cooling US job market has further reduced market expectations for interest rate hikes this year, while Warsh reiterated the 2% inflation target at the Sintra Forum but did not release more hawkish signals, which investors interpreted as a more dovish stance from the Federal Reserve. In the crypto market, on-chain data shows that whale wallets have accumulated over 270,000 BTC near the 200-week moving average, while options market funds have shifted from hedging positions to call options with strike prices of $60,000 to $70,000. Meanwhile, Ethereum's rise is largely driven by institutional narratives, including the official launch of Ethereum Institutional and the continued progress of institutional tokenization infrastructure. However, the Ethereum Foundation's recent layoffs of approximately 20% and budget cuts of about 40%, along with previous outflows from ETH ETFs, still reflect some pressure on its fundamentals. This round of gains is more characteristic of a "relief rebound" than the start of a new long-term bull market. Improved macroeconomic environment, easing tensions in the Middle East, continued institutional investment in Ethereum, and low liquidity during the summer have all contributed to the market recovery. However, from a funding perspective, Bitcoin spot ETFs have seen cumulative outflows of approximately $2.73 billion this year. Until ETF fund flows continue to improve and form a trend, the market should still view the current situation as a sentiment correction rather than a structural reversal, and remain cautious about the future.