以太坊站上3800美元/枚，日内涨1.15%。 以太坊 ...

金十图示：2025年07月21日（周一）全网加密货币实时爆仓数据 ...

Group 1 - Wahaha Group's founder, Zong Qinghou, passed away 17 months ago, and a property dispute involving the Zong family is set for a hearing in Hong Kong on August 1, 2025, with a decision expected to be announced [2] - The well-known renovation company, Liang Jia Ju, announced its sudden closure due to long-term losses and insolvency, with reports suggesting the founder, Zeng Yuzhou, has died [3] - Faraday Future's new MPV model, FX Super One, was launched but faced accusations of design plagiarism from Great Wall Motors, leading to the removal of certain descriptions from its website [5] Group 2 - Zeekr denied reports of selling "0 km used cars," clarifying that the vehicles in question were display cars and had never been registered [8] - The market has seen a surge in second-hand sales of Xiaomi YU7 cars shortly after their delivery, coinciding with proposed regulations from the Ministry of Industry and Information Technology to restrict second-hand sales within six months of new car registration [9][22] - Nvidia's CEO, Jensen Huang, expressed confidence in China's innovation capabilities, particularly praising DeepSeek's R1 model for its innovative approach to AI [10] Group 3 - Chery's chairman, Yin Tongyue, emphasized the company's opposition to price wars and the importance of maintaining supplier payment schedules during an internal meeting [10] - Nvidia's market capitalization recently surpassed $4 trillion, exceeding that of Microsoft and the combined market cap of Meta and Alphabet [10] - Tesla's first "Supercharger Diner" opened for trial operations, featuring a retro design and unique dining experiences [13] Group 4 - Nvidia has informed Chinese clients that its H20 AI chip inventory is limited and there are no plans to resume production [15] - Meta's Superintelligence Labs has recruited 44 top talents, with half from China and 40% previously employed at OpenAI, indicating aggressive hiring strategies [15] - The Russian government is enforcing measures against Google for failing to comply with court rulings, resulting in fines totaling approximately $347 million [17] Group 5 - The new luxury car tax policy has led to a rush in sales at Porsche and other luxury car dealerships ahead of its implementation [17] - Bullish, a cryptocurrency exchange, has filed for an IPO on the New York Stock Exchange, marking a significant event in the crypto industry [18] - Chuan Hydrogen Technology completed a funding round exceeding $200 million, aimed at product development and ecosystem construction [19]

以太坊突破3700美元，日内涨超3%。 ...

Core Viewpoint - The article discusses the significant IPO application by Bullish, a company involved in cryptocurrency trading and media, following the recent listing of a stablecoin company, highlighting the evolving landscape of the cryptocurrency industry and regulatory developments in the U.S. [2][14] Company Overview - Bullish was founded in 2021 by Block.one and notable Silicon Valley investor Peter Thiel. The company operates primarily through two segments: Bullish Exchange, a regulated cryptocurrency trading platform, and Coindesk, a media and data business acquired in 2023 [4][5]. - Bullish Exchange focuses on institutional trading of digital assets, generating revenue through trading fees and spreads. It is regulated in Germany, Hong Kong, and Gibraltar, with additional licenses sought in other jurisdictions, including the U.S. [4]. - Coindesk's operations include CoinDesk Data, CoinDesk Indices, and CoinDesk Insights, providing market data, indices, and news related to digital assets, generating revenue from subscriptions, licensing, and advertising [5]. Financial Performance - Bullish's projected digital asset revenues for 2022, 2023, and 2024 are $72.89 billion, $116.49 billion, and $250.2 billion, respectively, with net profits expected to shift from a loss of $4.25 billion in 2022 to a profit of $795.6 million in 2024 [9]. - As of Q1 2025, the company reported $802.3 billion in revenue with a loss of $349 million. The total trading volume on Bullish Exchange exceeded $1.25 trillion since its inception, ranking among the top five exchanges for Bitcoin and Ethereum trading [10]. Market Position and Competition - Bullish holds over 24,000 Bitcoins, positioning it among the top five publicly traded companies by Bitcoin holdings. The exchange's daily trading volume surpassed $2.5 billion, competing with major players like Binance, Coinbase, and Kraken [6][10]. - Coindesk serves 171,000 users with its data and research services and attracted 55 million unique visitors to its media site in 2024 [10]. Shareholder Structure - The company's five executives collectively own 73% of the shares, with the largest institutional shareholder, Pu Luo Chung VC, holding 12.8% [11].

特朗普深知美元霸权的地位已经岌岌可危，因此他意识到必须采取其他手段来延续这一霸权体系的生命力。有报道指出，2023年7月19日，美国众议院以308 票支持、122票反对的投票结果，顺利通过了一项名为"天才法案"的法案。 今年以来，特别是自4月起，美国国债经历了"史诗级抛售"，市场出现了债券、股票和外汇的"三杀"现象。美国财政部长贝森特对此进行了深度分析，指出 当前稳定币的市场规模达到了2470亿美元。如果这一规模能扩大到3.7万亿美元，则每年将新增800亿美元的国债需求，足以覆盖联邦政府11天的利息支出。 对于特朗普为挽救美元霸权所进行的这一系列努力，外界却并不看好。美元霸权真正面临的挑战在于新兴市场的崛起。中俄之间的贸易已经实现了本币结 算，印度则用非美元货币购买俄罗斯的石油，沙特等中东国家也开始用人民币进行与中国的石油交易。 这项法案的全名为《指导与建立美国稳定币国家创新法案》，主要目标是为那些与美元挂钩的稳定币建立一套监管框架。在演讲中，特朗普宣称他已签署了 一项行政令，旨在建立一个联邦"战略比特币储备"以及"国家数字资产储备"。这一消息引发了全球金融行业的强烈反响，《指导与建立美国稳定币国家创新 法案 ...

事件 2025年7月10日，上海市国资委党委召开中心组学习会，围绕加密货币与稳定币的发展趋势及应对策略开展学习。 核心观点 上海国资学习加密货币与稳定币，上海数交所首提RDA，产业催化不断，具备数据资源储备的公司数据价值将被进一 步释放。同时，国资背景的可信技术服务商以及数商有望成为构建金融创新"中国方案"过程中的中坚力量。建议关 注：1、稳定币相关企业；2、数据产品与运营相关企业。 参考来源： 2025年7月15日 华龙证券 孙伯文 朱凌萱 计算机行业点评报告：稳定币持续"升温"，关注RDA相关投资机会 上海市国资委党委围绕加密货币与稳定币召开学习会，数字货币持续"升温"。会上，上海市国资委党委书记、主任贺 青提出要加强对数字货币的研究探索；探索区块链技术在跨境贸易、供应链金融、资产数字化等领域的运用。我们认 为，上海国资委学习加密货币与稳定币具有"风向标"意义，内容上更聚焦于技术创新与应用场景。香港发布的《稳定 币条例》将于2025年8月1日正式生效，在立法监管阶段之后，产业层面将更为重视应用场景的探索和拓展。 本报告由国诚团队投资顾问 王志起 执业证书编号A1290625030016 整理。同时，本公司 ...

Domestic Macro - Demand Side - The travel market is heating up during the summer, with domestic flight numbers averaging 14,500 per day, a 13.08% increase month-on-month and a 2.28% increase year-on-year[2] - Retail sales of passenger cars reached 571,000 units in the first two weeks of July, a year-on-year increase of 5.7%, but a month-on-month decrease of 6.7%[2] Domestic Macro - Production Side - The average operating rate of blast furnaces decreased by 0.3 percentage points to 83.35% as of July 20, while the operating rate of coke ovens fell by 0.94 percentage points to 72.93%[2] - The operating rate of asphalt plants increased by 6.58 percentage points to 32.4%, indicating significant growth in real estate infrastructure[2] Price Performance - As of July 18, the average wholesale price of pork rose by 0.2% week-on-week, while the average wholesale price of 28 monitored vegetables fell by 0.09%[2] - The PPI showed a decline in oil prices, with WTI and Brent crude oil prices dropping by 1.44% and 1.05%, respectively[3] Fiscal and Investment - This week saw the issuance of special government bonds increase significantly, with 123 billion yuan in new special bonds and 1,315 billion yuan in new special bonds (excluding debt relief) issued, marking a notable acceleration in issuance[3] - The cement shipment rate has rebounded, indicating an increase in construction activity, particularly in water conservancy and public facilities projects[3] Overseas Macro - The U.S. inflation rate for June was 2.7% year-on-year, with core inflation at 2.9%, indicating manageable inflation levels despite tariff impacts[4] - The U.S. "GENIUS Act" and other cryptocurrency-related bills have passed the House, supporting the development of private sector digital currencies and reinforcing the dollar's position[3]

Core Viewpoint - The passage of the GENIUS Act in the U.S. House of Representatives has created significant turbulence in the global cryptocurrency market, marking a pivotal moment for the industry with strict regulations on stablecoins [1][3]. Group 1: Regulatory Changes - The GENIUS Act mandates that all stablecoin issuers must hold reserves in a 1:1 ratio with U.S. dollars or short-term U.S. Treasury securities, requiring monthly public disclosures of their assets [1]. - Non-bank entities wishing to issue stablecoins must obtain a special license, while major banks are granted expedited access to the new market [1][3]. - A critical provision in the act states that stablecoins can only be used for payment settlements and cannot be classified as securities or commodities, aiming to bypass traditional banking systems [3]. Group 2: Market Reactions - Following the act's passage, Ethereum surged by 7% to over $3,600, while Bitcoin surpassed $120,000, with other cryptocurrencies like XRP and Dogecoin also experiencing significant gains of over 10% [3]. - However, the market also saw a dramatic fallout, with 160,000 investors liquidated within 24 hours, resulting in $585 million lost, and the largest single liquidation amounting to $23 million [3]. Group 3: Future Projections - U.S. Treasury Secretary predicts that the stablecoin market could grow to $2 trillion by 2028, significantly exceeding the current $250 billion market size, which would compel stablecoin issuers to purchase large amounts of U.S. Treasury securities [3]. - Major tech companies like Apple and PayPal are accelerating their entry into the payment sector, potentially sidelining algorithmic stablecoins that lack transparency [3]. Group 4: Political and Institutional Dynamics - Trump's personal meme coin has reportedly generated $350 million, and his family-associated stablecoin USD1 has seen a 40% increase in circulation following the act's passage [4]. - The Federal Reserve has expressed strong opposition to Trump's plans to allow $9 trillion in 401k funds to flow into the cryptocurrency market, with key Fed officials warning that such policies could lead to inflation [4]. - The SEC and CFTC are engaged in a jurisdictional dispute over the classification of cryptocurrencies as either securities or commodities, which could lead to a redefinition of major cryptocurrencies [6]. Group 5: Institutional Responses - Major banks like JPMorgan and Citigroup are quickly establishing digital asset departments, although skepticism remains regarding the market demand for stablecoins from some banking executives [6]. - Despite doubts, the stock price of Circle (issuer of USDC) has surged by 25% in two weeks, and inquiries from Goldman Sachs clients have tripled, indicating strong interest in digital assets [6].

Group 1 - The signing of the "Genius Act" by President Trump marks a significant victory for the U.S. digital asset industry, establishing a regulatory framework for stablecoins [1][3] - The "Genius Act" requires issuers of dollar-backed stablecoins to hold short-term government bonds or equivalent assets in reserve, promoting broader adoption of digital assets in finance [3] - Supporters believe that the act will strengthen the U.S. dollar's position as the world's reserve currency, which Trump equated to losing a world war [3] Group 2 - The total market capitalization of cryptocurrencies surpassed $4 trillion for the first time, driven by a surge in altcoins and comprehensive regulatory legislation in the U.S. [4] - Ethereum experienced a 22% increase over five days, while Bitcoin reached a historic high of $123,205 earlier in the week [4] - The U.S. House passed a more comprehensive crypto market structure bill, currently awaiting Senate review, indicating a growing interest in regulatory clarity [5]