qfx According to whispers from the hallowed halls of the South China Morning Post (a place where gossip is hotter than a pot of boiling noodles), it appears the mandarins are rubbing their heads and pondering upon the prospect of floating yuan-backed stablecoins into existence like the rising phoenix of finance—unfurling its wings right out of a bureaucratic cauldron. 🐣🔥
News Background
The SEC’s never-ending digital asset framework continues to stir the institutional pot, causing treasury managers to dance a delicate tango between exposure and compliance optics. 💃🕺
With the ProShares XRP Futures ETF launching on July 18, a fresh capital allocation vector has drawn attention, making pension and endowment portfolios do a little jig!
And oh, what a show! Corporate flows went on a wild ride, buying up at $2.95–$3.02, then selling like mad during the night as risk management protocols threw a surprise party!
Corporate Ether treasury companies, with a flair for the dramatic, have accumulated more than 545,000 ETH over the past 30 days, as if they were collecting rare butterflies in a Victorian garden. 🦋
The art of short-side losses crafted another $269 million, bringing the grand total of liquidations to $675.8 million—an epic saga since April’s melodrama.
News Background
The selloff came amid rising anxiety over delays in potential crypto ETF approvals and a sudden resurgence in U.S. enforcement chatter around centralized exchanges. It was as if the market had decided to hold its breath, waiting for the next regulatory shoe to drop. 🙄
In a newly released statement titled “Crypto-Asset Safekeeping by Banking Organizations,” the regulators clarified that custody can be offered in both fiduciary and non-fiduciary roles. Banks must adhere to existing risk management frameworks and comply with applicable laws, but the statement does not introduce any new supervisory requirements. Instead, it serves as a guideline for how crypto safekeeping aligns with current banking laws.
The updated Criminal Code is a real treat. Those who dare to use an “unauthorized crypto-asset exchange service” can face penalties that increase based on the value traded. It’s like a game of financial roulette, where the stakes are your freedom 🎲.
Bitcoin, in a splendid display of determination, sought to break free from the shackles of $116,500, donning its finest attire as it danced above the prestigious realms of $118,000 and beyond, soon topping the scales at the impressive $120,000.
The same wallet that previously moved 80,000 BTC in a matter of hours has now transferred a whopping 20,000 BTC on July 14, just as Bitcoin was hitting a new all-time high of $123,000. Talk about timing! 🕒
The 30-minute UNI/USDT chart shared by analyst Crypto Joe (@CryptoJoeReal) highlights a textbook Inverted Head and Shoulders formation, a classic bullish reversal pattern. The neckline breakout occurred near the $8.50 level, supported by a noticeable uptick in volume and confirmation through a 1.02% gain to $8.598. Price currently holds above the 50-period moving average, reinforcing bullish momentum and validating support.
