PA Daily | Pump.fun will not have an Airdrop in the near future; the Ethereum Spot ETF has seen a net inflow for 14 days while the Bitcoin Spot ETF has seen a net outflow for 3 days.

Today’s news highlights:

Tesla’s Q2 financial report shows that the value of its Bitcoin holdings has risen to 1.2 billion USD.

The next round of compensation from FTX will be executed on September 30, releasing $1.9 billion in disputed claims reserves.

Pump.fun co-founder: There will be no airdrop in the near future, and we will share the timetable and detailed information as soon as possible.

GoPlus launches a 500 million GPS token security fund

Lido’s share in the ETH staking market has dropped to 25%, reaching a nearly three-year low.

The Ethereum spot ETF saw a total net inflow of $332 million yesterday, continuing a net inflow for 14 days.

The total net outflow of Bitcoin spot ETFs yesterday was $85.9628 million, continuing a net outflow for three days.

Statistics: Recently, 7 new wallets have collectively increased their holdings by 466,253 ETH, worth 1.7 billion yuan.

Regulation/Macro

The White House’s first cryptocurrency policy report will be publicly released on July 30.

Bo Hines, the executive director of the Trump Digital Asset Advisory Committee, stated on the X platform that the Presidential Digital Asset Working Group has completed its 180-day report (the first crypto policy report), which will be publicly released on July 30.

The Central Bank of Ghana plans to introduce a regulatory framework for cryptocurrencies to promote the development of digital assets.

The Central Bank of Ghana plans to introduce a licensing system for cryptocurrency platforms to regulate digital assets and capture related revenue. Central Bank Governor Johnson Asiama revealed that the regulatory framework is expected to be submitted to Parliament for review in September this year. The new bill aims to leverage cryptocurrencies to promote cross-border trade, attract strategic investments, and collect financial data to drive the development of the country’s digital asset sector. Previously, it was reported that the Central Bank Governor of Ghana stated: Ghana is finalizing the regulatory framework for cryptocurrency transactions.

The 90-day correlation coefficient between the Bitcoin Volatility Index and the S&P 500 VIX has reached an all-time high.

According to CoinDesk, data shows that the 30-day implied volatility index for Bitcoin (BVIV/DVOL) has reached a historic high of 0.88 in its 90-day correlation with the S&P 500 volatility index (VIX), indicating a significant increase in the correlation between the cryptocurrency market and U.S. stock market volatility. Currently, this correlation coefficient remains at a high level of 0.75. Analysts point out that this phenomenon reflects the dominance of Wall Street institutions in the current cryptocurrency market cycle. Markus Thielen, founder of 10x Research, stated that institutional investors are compressing volatility by selling a large number of call options, causing Bitcoin’s price movements to be increasingly influenced by traditional market risk appetite. Since the beginning of this year, the BVIV index has dropped from 67% to 42%, while Bitcoin’s price has risen by 26% during the same period, breaking the historical pattern of both moving in the same direction.

Tron Inc. announced that it will ring the Nasdaq opening bell on July 24.

According to Globenewswire, Tron Inc. (NASDAQ: TRON) announced that it will hold a market opening bell ceremony at the Nasdaq MarketSite in Times Square, New York, on July 24 at 9:30 AM Eastern Time, hosted by TRON founder and global advisor Justin Sun. This marks the company’s official transformation into a technology enterprise focused on blockchain and digital asset innovation. The company stated that this bell ringing is not only an important milestone in Tron Inc.'s development history but also highlights its long-term vision of driving shareholder value growth through innovation and strategic leadership. The company was formerly known as SRM Entertainment and is now the publicly listed company holding the most TRX tokens.

The appeals court ruled that NFTs are eligible for trademark protection, and the Yuga Labs case will be sent back for retrial.

According to The Block, the U.S. Ninth Circuit Court of Appeals made an important ruling in the case of Yuga Labs suing artist Ryder Ripps, stating that NFTs fall under the category of “goods” under the Lanham Act and can receive trademark protection as “goods.” The court upheld Yuga Labs’ claims to trademark rights over the Bored Ape Yacht Club NFTs but overturned a previous judgment imposing a fine of over $8 million on Ripps, requiring the lower court to re-examine the issue of whether RR/BAYC caused consumer confusion. The case began in June 2022, when Yuga Labs accused Ripps of diminishing its brand value by issuing the RR/BAYC series of NFTs. The court rejected Ripps’ defenses regarding “expressive art” and protections under the First Amendment of the Constitution but found that further evidence is needed to prove the likelihood of consumer confusion.

The next round of FTX payouts will be executed on September 30, releasing $1.9 billion in disputed creditor reserves.

According to a report from PR Newswire, FTX has announced that the next round of claims registration date is set for August 15, with execution expected to begin on September 30. This round of compensation is aimed at approved Class 5 customer claims, Class 6 general unsecured claims, and newly approved convenience claims since the last compensation. At the same time, the court has approved a reduction of the disputed claims reserve from $6.5 billion to $4.3 billion, releasing $1.9 billion for this round of compensation. Compensation will be executed through three institutions: BitGo, Kraken, and Payoneer. Creditors must complete KYC verification, submit tax forms, and select a designated compensation channel by August 15. For the transfer of claims, procedures must be completed before the registration date and go through a 21-day objection period. Once the funds reach the service provider’s account, the creditors will manage them independently.

Trump: Will impose simple tariffs ranging from 15% to 50% on most countries.

According to Jinshi, on the 23rd local time, U.S. President Trump stated that he would impose simple tariffs ranging from 15% to 50% on most other countries in the world. Trump also said that the U.S. is engaged in serious negotiations with the European Union, and if they agree to open up to U.S. businesses, the U.S. will allow them to pay lower tariffs.

opinion

KeyCorp CEO: If customers have a demand for cryptocurrency, we will respond to this demand by providing corresponding services.

According to Cointelegraph, the CEO of KeyCorp bank, which has assets totaling $185 billion, stated, “As long as our clients have a demand for cryptocurrencies and wish to use them as a means of storing value and holding them in wallets, we will cater to this demand (by providing the corresponding services).”

CryptoQuant: Investors are shifting funds from Bitcoin to Ethereum and altcoins.

CryptoQuant posted on platform X: “For the first time in over a year: Ethereum’s spot trading volume exceeds Bitcoin. Last week, Ethereum’s spot trading volume reached $25.7 billion, while Bitcoin’s spot trading volume was $24.4 billion, marking the first time since June 2024 that the ETH/BTC spot trading volume ratio has surpassed 1. Investors are shifting their funds towards Ethereum and various altcoins.”

Pump.fun co-founder: There will be no airdrop in the near future, and we will share the timetable and details as soon as possible.

Alon, co-founder of Pump.fun, stated during a live broadcast: “We are eager to reward the community that has supported our platform over the past year and a half. Our goal is to ensure that this airdrop event goes smoothly and is meaningful. This will provide us with a great opportunity to strengthen our ecosystem, increase trading volume, and maintain activity over a longer period. This is crucial for regaining attention and sparking interest. Although the PUMP airdrop will not happen immediately, we will share the timeline and details as soon as possible.”

Tether CEO: The company is planning to conduct business in the United States, focusing on the institutional market.

According to Bloomberg, following the passage of landmark cryptocurrency legislation in the United States, Tether Holdings SA plans to resume operations in the U.S., focusing on the institutional market. The company’s CEO Paolo Ardoino stated that Tether’s domestic strategy will provide efficient stablecoins for payments, interbank settlements, and trading. Ardoino noted that Tether is not interested in becoming a publicly traded company, and as it plans to expand into the U.S., it will continue to focus on emerging markets that may provide advantages over competitors.

Project Dynamics

Binance Alpha Phase 1 points exceed 225, eligible to claim 125 ASP tokens airdrop.

Binance has announced that it will be the first trading platform to list the Aspecta (ASP) token, with trading set to begin on July 24, 2025, at 18:00 Beijing time. Eligible users can claim an airdrop of 125 ASP tokens using Binance Alpha points within 24 hours after trading begins. The airdrop event will be conducted in two phases: In the first phase, for the first 18 hours, users must hold at least 225 Alpha points; in the second phase, for the last 6 hours, users must hold at least 200 Alpha points.

GoPlus launches a security fund of 500 million GPS tokens.

GoPlus has announced the establishment of a 500 million GPS token security fund, aimed at transforming Web3 security from a cost into shared value by rewarding users, developers, and project parties for their security contributions. The fund is divided into a 400 million GPS token base reward pool and a 100 million token bounty pool, where users can earn returns by staking tokens, and contributors can receive up to 10,000 GPS tokens for submitting security reports. This fund supports the development of decentralized security model innovations and ensures long-term stable returns through dynamically replenishing the reward pool and transparent data.

Solana is preparing to increase the block limit to 100 million CUs through SIMD-0286.

According to Cointelegraph, Solana is preparing to achieve another significant capacity increase through SIMD-0286, proposing to raise the block limit from 6000 CUs to 100 million CUs, a substantial increase of 66%. Earlier today, it was reported that Solana implemented SIMD-0256 yesterday, raising the block limit by 20%.

important data

Lido’s market share in ETH staking has dropped to 25%, a new low in nearly three years.

According to Tom Wan citing Dune data, Lido’s share in the Ethereum staking market has dropped to 25%, the lowest point since March 2022.

A private investor missed the best selling opportunity due to mistakenly depositing PUMP into Binance, expecting a loss of 6 million dollars.

According to monitoring by Lookonchain, a PUMP private investor “PUMP Top Fund 2” mistakenly deposited 2 billion PUMP onto Binance 8 days ago, when the price of PUMP was $0.0064. Since Binance has not launched PUMP spot trading, this 2 billion PUMP (worth $6.93 million today) was likely refunded to him 23 hours ago. After receiving this 2 billion PUMP, he immediately transferred it to Bybit. This operational error caused him to miss the best selling opportunity, and choosing to sell now could result in a loss of about $6 million.

A certain whale has sold multiple Base ecosystem tokens in the past 48 hours, resulting in a cumulative loss of 5 million USD.

According to Onchain Lens monitoring, in the past 48 hours, a certain whale has sold multiple Base ecosystem tokens, with a total loss of 5 million USD: Sold 1.08 million VIRTUAL for 1.87 million USDC, a loss of 1.73 million USD (original purchase price 3.59 million USD); Sold 5.75 million AIXBT for 951,000 USDC, a loss of 1.7 million USD (original purchase price 2.655 million USD); Sold 4.47 million GAME for 188,000 USDC, a loss of 1.19 million USD (original purchase price 1.375 million USD); Sold 38,443.75 VVV for 123,000 USDC, a loss of 379,000 USD (original purchase price 502,000 USD). Note: These tokens were purchased between December 2024 and January 2025.

The total net inflow of the Ethereum spot ETF yesterday was $332 million, marking a continuous net inflow for 14 days.

According to SoSoValue data, yesterday (Eastern Time July 23), the total net inflow of Ethereum spot ETFs was $332 million. The Ethereum spot ETF with the highest net inflow yesterday was Blackrock ETF ETHA, with a daily net inflow of $325 million, and the total historical net inflow of ETHA has reached $8.908 billion. The second was VanEck ETF ETHV, with a daily net inflow of $3.9548 million, and the total historical net inflow of ETHV has reached $170 million. As of the time of writing, the total net asset value of Ethereum spot ETFs is $19.683 billion, and the ETF net asset ratio (the market cap as a percentage of Ethereum’s total market cap) is 4.57%, with a historical cumulative net inflow of $8.651 billion.

The Bitcoin spot ETF saw a total net outflow of 85.9628 million USD yesterday, continuing a net outflow for 3 days.

According to SoSoValue data, yesterday (Eastern Time July 23) the total net outflow of Bitcoin spot ETFs was $85.9628 million. The Bitcoin spot ETF with the highest single-day net inflow yesterday was the Blackrock ( ETF IBIT, with a single-day net inflow of $143 million, and the total historical net inflow of IBIT has reached $57.116 billion. The second highest was the Grayscale ( Bitcoin Mini Trust ETF BTC, with a single-day net inflow of $10.4887 million, and the total historical net inflow of BTC has reached $1.655 billion. The Bitcoin spot ETF with the highest single-day net outflow yesterday was the Fidelity ) ETF FBTC, with a single-day net outflow of $227 million, and the total historical net inflow of FBTC has reached $12.32 billion. As of the time of this report, the total net asset value of Bitcoin spot ETFs was $153.25 billion, with an ETF net asset ratio (market value relative to total Bitcoin market value) of 6.53%, and the historical cumulative net inflow has reached $54.465 billion.

Statistics: Recently, 7 new wallets collectively increased their holdings by 466,253 ETH, worth 1.7 billion yuan.

According to Lookonchain monitoring, multiple new wallets have accumulated 40,591 ETH (worth 148 million yuan) today. Recently, 7 new wallets have collectively increased their holdings by 466,253 ETH (worth 1.7 billion yuan). Specific details: The address 0x8eEa received 138,345 ETH (worth 505 million yuan) from FalconX in the past 5 days; the address 0x9684 received 122,691 ETH (worth 448 million yuan) from FalconX in the past 13 days; the address 0x35fb withdrew 103,274 ETH (worth 377 million yuan) from Kraken in the past 15 days; the address 0x3dF3 received 43,787 ETH (worth 160 million yuan) from GalaxyDigital in the past 5 days; the address 0xD479 withdrew 32,902 ETH (worth 120 million yuan) from Kraken in the past 5 days; the address 0xf877 withdrew 12,913 ETH (worth 47 million yuan) from Kraken in the past 10 days; the address 0x6A95 withdrew 12,341 ETH (worth 45 million yuan) from Kraken in the past 9 days.

( Financing/Merger

Gaia Labs has completed a $20 million financing round and will launch its first AI-native smartphone.

Decentralized AI infrastructure developer Gaia Labs announced the completion of a total of $20 million in seed and Series A funding. This round of financing was led by ByteTrade/SIG Capital (Susquehanna) and Mirana/Mantle Eco Fund, with participation from several institutions including EVM Capital, Taisu Ventures, and NGC Ventures. Gaia Labs currently supports over 700,000 active nodes, with a cumulative inference count exceeding 17 trillion times, covering thousands of App-Chain domains and blockchain ecosystems. The new round of funding will be used to launch a decentralized AI smartphone, expand node capacity, improve the development toolkit, and promote Web3 integration. Gaia Labs plans to release a limited edition smartphone equipped with local AI inference capabilities by the end of the year. The Gaia AI Phone, based on Galaxy S25 Edge hardware, can run decentralized AI inference locally without relying on the cloud or data extraction, allowing users complete control over the agent.

Institutional Holdings

Japanese AI company Quantum will invest up to 3000 bitcoins, exceeding 50 billion yen, within the next 12 months.

The Japanese listed company Quantum Solutions announced that it will invest up to 3,000 bitcoins (approximately 53.85 billion yen) in the next 12 months, officially entering the cryptocurrency field. The company stated that this move aims to respond to the expansion of the global crypto market and the popularity of bitcoin as “digital gold”, while diversifying assets, reducing exchange rate risks, and hedging against inflation. Quantum plans to initially invest approximately 1.48 billion yen and will gradually implement it using borrowed funds. If the target is achieved, the company will become one of the listed companies in Japan with a higher amount of bitcoin holdings.

Satsuma (formerly Tao Alpha) raises over £100 million to promote AI and Bitcoin布局

The listed company Satsuma (formerly Tao Alpha) announced the completion of over £100 million in convertible bond fundraising and has initiated a third round of financing, with the minimum subscription threshold reduced to $100,000, expected to conclude on July 28. The funds will be used to expand operations and promote the construction of Bitcoin and decentralized AI infrastructure. CEO Henry Elder has officially joined the board as an executive director.

The new Solana treasury company Accelerate plans to raise $1.5 billion, with Joe McCann as CEO.

According to Unchained, Joe McCann, founder of the crypto hedge fund Asymmetric, will become the CEO of the newly established Solana treasury company, Accelerate. The company plans to go public through a SPAC merger, aiming to raise $1.5 billion, of which $800 million will come from PIPE financing and $358.8 million from the SPAC shell. If the fundraising is successful, Accelerate is expected to become the largest SOL treasury company by holding 7.32 million SOL (currently worth about $1.36 billion). Informed investors have revealed that Accelerate’s fundraising plan has been in preparation for several months, and the deal is expected to be completed by the end of 2025.

Tesla’s Q2 financial report shows that the value of its Bitcoin holdings has risen to $1.2 billion.

According to CoinDesk, Tesla’s (TSLA) financial report shows that as Bitcoin prices rose 30% in the second quarter of this year, its holdings of Bitcoin are currently valued at about $1.2 billion, thanks to the adjustment of U.S. accounting standards regarding the treatment of digital assets, which is quite favorable for Tesla. According to data from BitcoinTreasuries.Net, Tesla currently holds 11,509 Bitcoins, making it the tenth largest publicly traded company holding Bitcoin on its balance sheet. Previously, corporate holders had to report crypto assets at the lowest value during the holding period, which could not reflect market recovery; even if Bitcoin rebounded, the gains would not be reflected on the balance sheet. However, the new guidelines approved by the Financial Accounting Standards Board in the U.S. allow companies to report the fair value of their cryptocurrency holdings quarterly starting in the first quarter of 2025, enabling Tesla to recognize gains each quarter and provide shareholders with a clearer understanding of asset performance.