1. Exclusive: Hong Kong Stock Exchange will launch Asia’s first Bitcoin inverse product on July 23
Next Monday, July 23, the Hong Kong Stock Exchange will launch Asia's first Bitcoin inverse product, the full name of which is CSOP Bitcoin Futures Daily Inverse (-1x) Product (7376.HK), which directly invests in the nearest expiring monthly Bitcoin futures traded on the Chicago Mercantile Exchange. The trustee is HSBC Institutional Trust Services (Asia) Limited.
2.QCP: BTC price remains strong, institutions may bet on a rebound by the end of the year
QCP Capital said that this week, BTC prices have been strong against the backdrop of increased supply on MtGox and falling stock markets. Perpetual contract funds have stabilized, volatility has declined, and BTC has fluctuated between 61k and 71k, but the market is clearly betting on a breakthrough around the US election. Institutional interest in the $100,000 December call option is strong, showing confidence in a year-end rebound, especially with the increased likelihood of Trump's victory.
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3. Bitcoin Magazine CEO: Bitcoin will be supported by both parties in the United States for political reasons
Bitcoin Magazine CEO David Bailey tweeted that the media tried to belittle Trump's support for Bitcoin through the crypto industry's donations to Trump. However, what they don't realize is that the crypto industry is proving to the world that if you work with the crypto industry, we will strongly support you; otherwise, we will end your career. After this election, Bitcoin will be supported by both parties in the United States for political reasons.
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4. ZA Bank provides exclusive reserve bank services for stablecoin issuers
Hong Kong digital bank ZA Bank announced that it will provide exclusive reserve banking services for stablecoin issuers, making ZA Bank one of the first banks in Hong Kong to provide such services. Yuanbi becomes the first stablecoin issuer to provide reserve banking services to ZA Bank. ZA BANK is currently negotiating cooperation with nearly 10 stablecoin companies. ZA Bank is committed to supporting the development of Web3 and will continue to cooperate with the government's policies to launch more related services and products to strengthen Hong Kong's position as an international virtual asset center.
5. People familiar with the matter: Crypto market maker Wintermute is in financing negotiations
According to Bloomberg, citing people familiar with the matter, Wintermute is in talks with investors such as Tencent to raise funds at a valuation of about $2 billion. Together with the funds raised by Wintermute through the sale of new shares, the total transaction size could reach $200 million to $300 million. The exact terms have not yet been finalized, and the transaction size and valuation may change.
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