Bullish shares jump 10% as Q2 adjusted EBITDA more than triples
Related
The U.S. Securities and Exchange Commission (SEC) is expected to propose cryptocurrency rules as early as this month to streamline the fundraising process for startups.
PANews reported on July 8th that, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has updated its agenda, indicating it plans to propose new cryptocurrency rules as early as this month. The rule would establish a temporary registration exemption for developers launching crypto investment contracts, allow for a certain amount of financing, and create a safe harbor for issuers exiting securities regulation. SEC Chairman Paul Atkins stated that this move aims to achieve the goal of "making the U.S. the global crypto capital," establishing clear rules for crypto asset financing, and providing clear guidance for the custody and trading of on-chain tokenized securities. This is the SEC's first major rule-making effort in the crypto space; previously, the agency had released a digital asset taxonomy and begun developing related plans to promote tokenized securities. The cryptocurrency rule is currently under review by the White House Office of Information and Regulatory Affairs.
Tom Lee: The rise in the ETH/BTC exchange rate indicates that investors expect improved visibility of crypto use cases.
According to BlockBeats, on July 6, Tom Lee, chairman of BitMine, the largest Ethereum treasury, wrote that although there is still widespread skepticism about ETH in the market, the rise in the ETH/BTC exchange rate shows that investors are expecting improved visibility of cryptocurrency "use cases," which is a good thing for the market.
CryptoQuant: Surge in BTC and Altcoin exchange deposits may indicate increased market volatility.
According to CryptoQuant, as reported by Odaily Odaily, the inflow of Bitcoin, Ethereum, and Altcoin into exchanges has increased significantly recently, a pattern that historically often foreshadows a period of higher volatility in the crypto market. Julio Moreno, Head of Research at CryptoQuant, pointed out that the inflow of nearly 49,000 BTC into exchanges on June 30th is a rare and extreme level. There have only been four similar single-day deposit peaks approaching 50,000 BTC this year, and these peaks are typically followed by significantly amplified price volatility and clear directional price movements. The report argues that at the current inflow level, the market is absorbing a significant amount of Bitcoin that has been transferred to exchanges. Since transfers to exchanges typically imply potential selling pressure, position adjustments, or increased demand for derivatives margin, this could trigger more volatile price movements. CryptoQuant also points out that the inflow of Ethereum and Altcoin into exchanges is also increasing, indicating that the pressure is not limited to Bitcoin but is spreading to the broader crypto asset market. Overall, the surge in exchange deposits may indicate a more significant shift in market direction in the short term.
A-shares closed lower: The ChiNext index rose initially but then fell back, closing down 1.7%, with robotics and lithium mining concepts experiencing a collective correction.
PANews reported on July 8th that, according to Cailian Press, the market experienced volatile adjustments, with all three major indices closing lower. The combined turnover of the Shanghai and Shenzhen stock exchanges was 2.56 trillion yuan, a decrease of 17.6 billion yuan compared to the previous trading day. Market hotspots were scattered, with over 3,700 stocks declining. In terms of sectors, the computing power leasing concept bucked the trend, with YunSai Zhilian, DataPort, Wangsu Science & Technology, Nanxing Shares, and 263 all hitting their daily limit. The AI server concept was active, with Inspur Information hitting its daily limit. Gold stocks fluctuated and rose, with Zhaojin Gold rebounding to its daily limit. The information security concept saw unusual upward movement, with Green Alliance Technology hitting its 20% daily limit and Zhongcheng Technology rising over 16%. On the downside, the humanoid robot concept fluctuated and adjusted, with Estun, Dayang Electric, and Rifeng Precision Machinery hitting their daily limit. The lithium mining concept collectively weakened, with Tianqi Lithium, Rongjie Shares, and Shengxin Lithium Energy hitting their daily limit. At the close, the Shanghai Composite Index fell 0.49%, the Shenzhen Component Index fell 1.87%, and the ChiNext Index fell 1.7%.
BTSE launches cryptocurrency exchange BTSE Indonesia in Indonesia.
According to Mars Finance, on July 5th, blockchain trading and payment company BTSE Group recently launched its cryptocurrency trading platform BTSE Indonesia in Jakarta through a joint venture with PT Aset Kripto Internasional, and rebranded its local licensed platform NVX. BTSE will reportedly provide trading infrastructure and liquidity support, while the local Indonesian team will handle marketing, business partnerships, sales, and user growth. BTSE Indonesia stated that it has received approval from the Indonesian Financial Services Authority (OJK) to operate as a regulated digital financial asset trading platform. This license is expected to allow it to expand into cryptocurrency futures and other businesses in compliance with local regulatory requirements. Official data shows that cryptocurrency trading volume in Indonesia reached 556.5 trillion Indonesian Rupiah (approximately US$31.2 billion) from January to November 2024, and the number of registered cryptocurrency users reached 22.11 million as of November 2024.
On-chain perpetual contract exchange Extended completes $12.5 million strategic funding round, led by eToro.
PANews reported on July 3rd that, according to CoinDesk, digital brokerage eToro announced it led a $12.5 million strategic funding round for on-chain perpetual contract exchange Extended, with participation from Jump Crypto and Alber Blanc. eToro plans to directly integrate Extended's perpetual contract engine into Zengo, the self-custodial wallet it acquired for $70 million. This will allow users to trade on-chain derivatives while retaining asset custody. Extended also plans to introduce a wider range of DeFi products to its core platform in the future. Led by Ruslan Fakhrutdinov, former head of crypto at Revolut, Extended has processed over $245 billion in trading volume as of June, supports over 100 perpetual markets, and plans to expand into spot trading, tokenized RWA, and multi-asset collateralization.