Headlines
▌Biden was exposed that his campaign funds were "cut off" and he was in a "catastrophic" predicament
On July 12, according to a report by Cankao Xiaoxi citing the website of the National Broadcasting Corporation of the United States, sources said that US President Biden's campaign has faced a reduction in donations and the situation is extremely dangerous. The report said that one of the sources said: "The situation is catastrophic." Another source said: "The source of funds has been cut off." Two other sources said that this month, Biden's campaign fundraising from major donors may be reduced by half or even more. A source said: "Donors are very negative. They talked to the president. This call seemed unnatural to people. I don't think they believe him."
▌U.S. senators reach agreement to ban members' stock trading
U.S. senators from both parties are renewing their efforts to push for laws that would prohibit members of Congress from trading stocks. In a July 9 letter to House Speaker Mike Johnson and Democratic Leader Hakeem Jeffries, a bipartisan group of 20 senators proposed an amendment to the Stop Trading on Congressional Knowledge Act of 2012 to prohibit lawmakers from trading in stocks. “Congress should not be about making money,” U.S. Sen. Josh Hawley said in a news release. “There is no reason for members of Congress to profit from information that only they have access to and that other Americans don’t.”
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $58,150.11, with a daily change of +0.59%;
ETH's latest transaction price is $3135.99, with a daily change of -0.30%;
BNB's latest transaction price is 531.6 USD, with a daily change of -0.08%;
SOL's latest trading price is $139.16, with a daily change of -1.17%;
DOGE’s latest trading price is $0.1072, with a daily change of -1.46%;
XPR recently traded at $0.4619, with a daily change of +2.07%.
policy
▌Hong Kong Monetary Authority completes fifth targeted review of anti-money laundering measures for virtual asset service providers
Golden Finance reported that the Hong Kong Monetary Authority issued a notice to banks and stored value payment instrument licensees. Its Financial Action Task Force published the results of last month's plenary meeting, identifying jurisdictions with strategic gaps in the system for combating money laundering, terrorist financing and weapons proliferation financing. The Hong Kong Monetary Authority stated that the Special Committee has completed the fifth targeted review of virtual assets and virtual asset service providers to implement relevant anti-money laundering measures of the Special Committee standards. The Special Committee will continue to monitor market trends and pay attention to whether there are major developments that require further action. This report will be published in the next few weeks.
The UK Law Commission believes that there is no need for DAO-specific laws
On July 12, the UK Law Commission believed that decentralized autonomous organizations (DAOs) do not require separate legal supervision and should be included in the existing financial regulations and tax framework. The committee said that in its current form, it is not feasible to implement a one-size-fits-all law on DAOs because different ecosystems tend to adjust their operations according to local judicial requirements. In addition, the committee recommends reviewing the Companies Act 2006 to facilitate supervision of DAOs operating in the form of limited liability partnerships. The committee also proposed to review the scope of reform of non-profit DAOs and existing anti-money laundering regulations.
Blockchain Applications
▌Gnosis Chain mainnet launches threshold encryption technology beta version
Ethereum sidechain Gnosis Chain announced that Shutter’s threshold encryption technology has been implemented on the mainnet for the first time. This beta version brings an encrypted memory pool to the Gnosis chain to protect users from malicious MEV attacks. This is the second major Shutter use case to go online after Shielded Voting for Snapshot.
▌Unstoppable Domains: Official website domains have been attacked, users need to be vigilant
On July 12, Web3 domain name provider Unstoppable Domains said on the X platform that its official website was attacked. Please do not open the emails sent by it or use the website until further notice. DefiLlama founder 0xngmi said on the X platform that this attack may be related to the problem of domain name provider Squarespace. Earlier news said that the problem of domain name registrar Squarespace may cause hundreds of crypto project domain names to face the risk of attack.
Chainlink Data Feeds Now Live on Starknet Mainnet
Chainlink Data Feeds are now live on the Starknet mainnet. The addition of Data Feeds supports developers building DeFi applications on Starknet.
Cryptocurrency
▌The German government currently still holds 9,094 BTC
According to Lookonchain monitoring, in the past 24 hours, the German government wallet transferred out 10,627 BTC ($615.3 million) and received 4,169 BTC ($239.6 million). The German government may have sold 6,458 BTC ($375.7 million) and currently holds 9,094 BTC ($522.29 million).
▌Russia’s Ministry of Finance proposes to allow certain qualified investors to conduct limited cryptocurrency trading
On July 12, the Russian Ministry of Finance proposed to allow a limited number of "specifically qualified" investors to trade cryptocurrencies on exchanges. The response drafted by the ministry is aimed at two proposed laws aimed at regulating cryptocurrency mining and digital currency settlement under an experimental legal framework. Specifically, the ministry proposes to allow all foreign economic activity (FEA) participants to use digital assets for settlement in accordance with general regulations, which means that digital assets need to be recognized as having monetary value. As an experimental measure, the ministry further proposed that cryptocurrency trading be allowed only on exchanges and platforms listed in the official register and that cryptocurrencies be treated as commodities. However, the document does not specify the criteria for classifying these investors.
▌Source: Banks said in consultation with SEC that wallets and spot Bitcoin ETFs should not be included in the scope of crypto guidance
Sources said that banks successfully argued in closed-door consultations with SEC staff that wallets and spot bitcoin exchange-traded products should be excluded from the cryptocurrency guidance. Aaron Jacob, head of accounting solutions at TaxBit, which provides crypto accounting products to exchanges and investors, said financial institutions are increasingly eager to participate in the crypto industry, especially now that the SEC has approved spot bitcoin products. Golden Finance previously reported that the SEC allowed certain companies to circumvent the controversial cryptocurrency accounting announcement
Important economic developments
▌U.S. Senator: Having Bitcoin reserves can help the dollar remain strong
According to Bitcoin News on the X platform, Senator Cynthia Lummis said on the FOX News program, "Having Bitcoin reserves can help the dollar remain strong." She also said that the current US senator saying this on national news television definitely means a game changer.
▌Macquarie: The Federal Reserve is expected to implement its first interest rate cut in September, compared with the previous forecast of December
Macquarie: The Fed is expected to implement its first rate cut in September, compared with the previous forecast of December. In addition, the Fed will cut interest rates by 50 basis points this year, compared with the previous forecast of 25 basis points.
Golden Encyclopedia
What is market depth in cryptocurrency trading?
In cryptocurrency trading, market depth describes the ability of a market to withstand a large number of orders without noticeably affecting the price. It is a liquidity indicator that shows the number of buy and sell orders for a given cryptocurrency at different price points. So, how is market depth displayed? Depth charts are often used to illustrate this data. It plots buy orders (bids) on one side and sell orders (asks) on the other side to reflect price levels.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
