Top10 News

1、Rebounded, ETH led the rise, and the merger narrative worked？

The market had a good rally after negative news such as CPI explosion and interest rate hike expectations, especially the narrative brought by the ethereum merger push, which led the market higher. The market pulled back slightly after Tesla's earnings report showed it had sold about 75% of its bitcoin, but the potential selling pressure was gone and Musk said he would add to his holdings in the future.

2、Tesla sold about 75% of its bitcoin holdings, and Musk said he would increase his holdings in the future

Tesla has sold about 75% of its Bitcoin holdings, adding $936 million in cash to its balance sheet in the second quarter. In early 2021, the company announced it had bought $1.5 billion worth of bitcoin. Tesla sold 10% of its bitcoin holdings in April 2021.

Musk said it was important for us to maximize our cash position because we weren't sure when the lockdown in China would ease. This should not be seen as some judgment on Bitcoin, just that we are concerned about the overall liquidity of the company. Tesla eventually reported a $106 million loss on purchases and sales. Musk said that despite the losses, the company was "definitely willing to increase our Bitcoin holdings in the future" and did not sell any dogecoin.

3、3AC: The creditors committee was established and the claim amount reached 3.5 billion US dollars, Zhu Su filed a claim of 5 million US dollars, Death threats forced hiding

3AC's creditors committee has been formed and consists of five members: DCG, Voyager, CoinList, Blockchain.com and Matrixport. Creditors' claims against 3AC now amount to $3.5 billion. In addition, 3AC owes $65 million to Mr. Davies's wife, Chen Kaili Kelly, and $5 million to Mr. Zhu. Kyle Davies and Su Zhu say death threats forced them to go into hiding.

4、Zipmex: Withdrawal suspended and restarted, loan to Babel Finance, SEC letter

Zipmex, a southeast Asian crypto exchange, also ran into funding problems, though it quickly reopened after suspending withdrawals. Zipmex's Singapore subsidiary is understood to have lent Babel Finance $100m through Zippup; The Securities and Exchange Commission of Thailand has sent a letter to Zipmex requesting a complete description of the events that led to the frozen withdrawals.

5、The Wall Street Journal forecasts a 49% chance of a recession in the coming year, with rates likely to rise to 3.25% by year-end and cuts likely to resume by the end of next year  link

6、Coinbase secures Crypto Asset Service Provider approval in Italy 🇮🇹  link

By meeting the regulatory requirements, Coinbase will continue to offer crypto services in Italy, and has a clear path to bring new products and features to market in the country.

7、The Dutch central bank disclosed in April that it imposed an administrative fine of €3,325,000 on Binance

On July 18, the Dutch Central Bank revealed that it had imposed an administrative fine of €3,325,000 on Binance in April for providing cryptography services in the Netherlands without registering with DNB as required by law. Binance has a large customer base in the Netherlands. DNB reduced the fine by 5%, in part because Binance had already filed for registration and because binance had operated its business relatively transparently throughout the process. This registration is currently being evaluated by DNB.

8. Crypto lender Vauld owes $363 million to retail investors after halting withdrawals link

Vauld owes hundreds of millions of dollars to retail investors, with one individual owed $34 million.The firm is seeking a six-month extension for its legal moratorium.

9、Stablecoin Provider Circle Eyes Public Listing in Q4 This Year  link

Circle’s CFO Jeremy Fox-Geen said the firm is a registered financial services company just like PayPal or Apple. Circle Yield, the firm’s interest-earning product, is regulated by the Bermuda Monetary Authority (BMA). Fox-Geen expects Circle to go public via a SPAC deal at the end of 2022.

10、Celsius Outlines Next Steps as Bankruptcy Proceedings Begin link

The insolvent crypto lender has said that it will give customers an option of staying "long crypto" or receiving a discounted cash settlement.

Fundraising

• Multicoin, LedgerPrime back new $20 million hedge fund   link

• Dragonfly Capital Leads $13M Round for DeFi Infrastructure Startup XLD Finance  link

• NFT fraud fighters Optic raise $11 million in seed funding round  link

• Blockchain Security Startup Raises $90 Million Despite Crypto Winter  link

• Hashflow Raises $25M Series A from Jump Crypto, Wintermute, and GSR  link

• Bankman-Fried's Crypto Exchange FTX Is In Talks to Raise Funds After Buying Spree  link

• KuCoin Announces $10 Million Strategic Investment From SIG  link

Learn more, check out  DoveMetrics.

Insights

• Avalanche Subnets vs. Polygon Supernets   link

• Deconstructing DeFi Returns: Harvesting Risk Premia  link

• The Current Landscape of Soulbound Tokens  link

• The Mechanics of a Crypto Liquidity Crunch  link

• NFT drop styles  link

• An Overview of the Most Active Blockchain Investors in Q2'22  link

• Arthur Hayes：Excalibur link

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