Author: TechFlow
Yesterday's Market Dynamics
US SEC Chairman: ETH is Not a Security
The new US Securities and Exchange Commission Chairman Paul Atkins stated in a CNBC interview that ETH is not a security.
Market News: Crypto Custody Company BitGo Secretly Submits IPO Application in the US
According to market sources, crypto custody company BitGo has secretly submitted a US IPO application.
Aspecta Officially Announces ASP Token TGE on July 24
According to Aspecta core contributor Jack He (@jackhe24) on social media platform X, the Aspecta (ASP) Token Generation Event (TGE) will officially launch on July 24, 2025, at 10:00 UTC.
Sonic Labs Co-Founder: Sonic Labs Has Burned All 1.866 Million S Tokens Allocated in Airdrop, Worth Approximately $750,000
Sonic Labs co-founder Andre Cronje posted on X that Sonic Labs has burned all 1,866,256.59 S tokens allocated in the airdrop, valued at $754,902.66.
Polymarket Acquires Derivatives Exchange QCEX for $112 Million, Plans to Return to US Market
According to Blockworks, Polymarket has acquired derivatives exchange QCEX for $112 million, with plans to return to the US market.
Binance: Will Provide 4x Trading Volume Credits for Limit Buy Orders of Alpha Token on BSC Chain
According to the official announcement, from 8:00 on July 22, 2025, limit buy orders for Alpha tokens on the BSC chain on Binance Alpha CEX will enjoy 4x trading volume credits towards Binance Alpha points. The end date of the activity will be announced separately.
Strategy Announces Plan to Issue STRC Stock to Raise Funds for Bitcoin Acquisition
According to the official announcement, Strategy (Nasdaq codes: MSTR, STRK, STRF, STRD) today announced plans to conduct an initial public offering of 5 million shares of Series A Variable Rate Perpetual Preferred Stock (STRC stock). The company stated that the raised funds will be used for general corporate purposes, particularly Bitcoin acquisition and operating capital.
The initial annual dividend rate for STRC stock is 9.00%, paid monthly, with the company reserving the right to adjust the dividend rate. Morgan Stanley, Barclays, Moelis & Company, and TD Securities will serve as joint bookrunners for this issuance.
Robinhood CEO: Will Persist in Pushing Forward Token Stock Plan
According to Decrypt, Robinhood CEO Vlad Tenev recently acknowledged that the company's launched OpenAI tokenized stock has sparked controversy, but he will firmly expand this business. Previously, OpenAI strongly opposed unauthorized tokenized stocks, and the US SEC warned that tokenized securities must still comply with federal securities laws.
Tenev stated: "Being the first platform to actually tokenize these excellent companies is an important milestone. Whenever you pioneer something meaningful, there will always be some controversy." He plans to extend this model to thousands of private companies and integrate with the DeFi market.
US-Listed Company Dynamix Plans to Establish Ether Machine, Intending to Hold Over $1.5 Billion in ETH
According to the Wall Street Journal, US-listed blank check company Dynamix is preparing to merge with another entity to form a new company called "Ether Machine", planning to hold over $1.5 billion in Ethereum (ETH).
Hong Kong-Listed Company Jingwei Tiandi: Launches Self-Developed Global Stablecoin Payment Platform
According to Jinshi Data, Jingwei Tiandi announced on the Hong Kong Stock Exchange that the company is entering the crypto payment field, launching its first mobile application "Fopay" on July 21, 2025, providing a one-stop payment platform. Fopay is developed based on the stablecoin crypto payment concept, currently offering stablecoin custody and prepaid card payment functions through several licensed partners. The board believes that launching Fopay and the new business segment can explore more business opportunities and benefit shareholders overall.
FTX Seeks Extension to Respond to Creditor Objections, $470 Million Overseas Claims May Be Frozen
According to Cointelegraph, the FTX bankruptcy team is seeking an extension from the Delaware court to respond to over 90 objections to its "restricted foreign jurisdictions" repayment suspension proposal. The proposal affects creditors in 49 countries, involving total claims of approximately $470 million, with Chinese creditors representing the largest proportion at 82% (about $380 million).
The FTX team stated that repaying creditors in these countries might trigger fines, personal liability, or even criminal penalties. However, many creditors strongly oppose this, believing it could reduce their claim value to zero. According to FTX creditor Sunil Kavuri, approximately $1.4 billion in FTX claims are still awaiting resolution.
Market Dynamics
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