稳定币（Stablecoin）是一种价格相对稳定的加密货币，通常通过锚定法定货币或其他真实资产来避免剧烈波动。本文以全球视角，探讨稳定 币在影视、音乐、游戏、艺术等文化细分领域的典型案例，分析稳定币的具体应用模式、优势与挑战，总结当前稳定币在文化产业中应用的局 限与风险，并展望未来发展趋势。 稳定币（Stablecoin）是一种价格相对稳定的加密货币，通常通过锚定法定货币或其他真实资产来避免剧烈波动。 作为数字货币与现实法币之间的桥梁，稳定币在金融领域迅速崛起。香港2025年5月21日通过《稳定币条例草案》，这是全球首个法币稳定币监管框架，5 月30日《稳定币条例》正式成为法例，并于8月1日开始实施。蚂蚁国际计划于2025年8月《稳定币条例》生效后，在香港、新加坡、卢森堡提交稳定币牌 照申请。京东集团计划于2025年8月《稳定币条例》生效后申请正式牌照，目标发行锚定港元（HKD）和美元（USD）的稳定币。京东集团 CEO 刘强东 明确表示，稳定币可将全球跨境支付成本降低90%，效率提升至10秒内。 从全球来看，稳定币也正在进入文化产业的各个领域和环节，展现出独特的应用潜力。本文以全球视角，探讨稳定币在影视、音 ...

Report Information - Report Title: Aluminum Daily Report [1] - Date: July 18, 2025 [2] - Research Team: Non-ferrous Metals Research Team [3] - Researchers: Yu Feifei, Zhang Ping, Peng Jinglin [3] 1. Investment Rating - No investment rating information is provided in the report. 2. Core View - In the off-season, both supply and demand of electrolytic aluminum tend to weaken, while smelting profits are high. It is recommended to mainly conduct short-selling hedging at high levels [8]. 3. Summary by Directory 3.1 Market Review and Operation Suggestions - On the 17th, Shanghai aluminum fluctuated within a narrow range, with the main contract 2508 rising slightly by 0.07% to 20,415. The total open interest of the index increased by 5,825 to 633,881 lots, and the premium of 08 - 09 remained flat at 40 compared to the previous day [8]. - After the decline in futures prices, the market trading atmosphere improved, and downstream purchasing willingness increased. However, due to the strong off-season sentiment, purchases were difficult to improve substantially. The premium and discount fluctuated, with a premium of 100 in East China, a discount of -30 in Central China, and a premium of 85 in South China [8]. - Cast aluminum alloy fluctuated narrowly following Shanghai aluminum, with the 2511 contract closing slightly up 0.18% at 19,845. The negative spread of AD - AL was -445. Currently in the off - season of the automotive industry, with weakening demand and short supply of raw materials, it is expected that cast aluminum will continue to fluctuate, and the low negative spread structure of AD - AL will be maintained [8]. - The operating capacity of domestic electrolytic aluminum remained at a high level, with a slight decrease in the short term due to capacity replacement. The demand side was still troubled by the off - season. The operating rate of the aluminum processing sector was still sluggish, with insufficient orders. Due to high - temperature weather, some downstream production lines in the Central China region that had previously cut production began to resume operation one after another. On Thursday, the social inventory of aluminum ingots decreased by 0.9 to 492,000 tons compared to Monday, but still increased by 26,000 tons compared to last Thursday. Overall, it was still in a state of inventory accumulation, and the subsequent support for prices was expected to continue to weaken [8]. 3.2 Industry News - China's primary aluminum (electrolytic aluminum) production in June 2025 was 3.81 million tons, a year - on - year increase of 3.4%. In June, the operating capacity of domestic electrolytic aluminum changed slightly. Due to the start of the second - phase replacement of electrolytic aluminum from Shandong to Yunnan, the replacement capacity of the original factory was required to reduce production, and the new factory could start production after passing the acceptance. As a result, the production of electrolytic aluminum decreased slightly month - on - month [9]. - In July, SMM stated that the operating capacity of domestic electrolytic aluminum remained at a high level. The second - batch replacement project in Yunnan was put into operation, and the industry's operating rate rebounded, while other projects remained unchanged [10]. - The Ministry of Housing and Urban - Rural Development said it would continue to consolidate the stable situation of the real estate market. The research team recently visited Guangdong and Zhejiang provinces, emphasizing the importance of promoting the stable, healthy, and high - quality development of the real estate market. Local governments should take responsibility, make full use of the autonomy of real estate regulation policies, implement policies according to local conditions, and promote the real estate market to stop falling and recover [10]. - Alcoa announced on July 14 that it expected its San Ciprián aluminum smelter in Spain to restart by mid - 2026, with an expected loss of up to $110 million. The plant's production decreased in 2021 due to high electricity prices. The restart plan was postponed due to a nationwide power outage in Spain on April 28. After evaluating the power outage losses, the joint - venture company suspended the resumption of production until the Spanish government provided detailed information on the cause of the power outage and measures to prevent similar events. The electrolytic aluminum plant has a production capacity of 228,000 tons. After consultations, Alcoa and its joint - venture partner Ignis Equity Holdings decided to resume the project. Alcoa expects the smelter to record a net loss of approximately $90 million to $110 million in 2025, and the entire restart process is expected to be completed by mid - 2026 [10].

Group 1 - The concept stocks related to stablecoins in the Hong Kong market have continued to rise strongly for three consecutive days [1] - OSL Group (09618.HK) and JD.com (09618.HK) both increased by over 4% [1] - Alibaba (09988.HK) rose by over 3%, while ZhongAn Online (06060.HK) increased by nearly 3% [1] Group 2 - Huaxing Capital Holdings (01911.HK), Yao Cai Securities (01428.HK), and China Merchants Securities (06099.HK) all saw an increase of 1.5% [1]

最近这几天，鑫慷嘉平台爆雷事件在网上引起了大家的热议。网传，这一平台共计200万名投资者参与其中，涉案金额高达130亿元。 很多网友纷纷表示，这次的爆雷事件真是让自己"开了眼"，因为大家见过诈骗跑路的，但没见过跑路了还得意洋洋羞辱受骗人的。 在平台创始人黄鑫跑路到海外之后，他在会员交流群中以一种"人生导师"的姿态向平台受骗者说，"每个人的智商与财富是匹配的，他只是拿走了不属于 符合那些受骗人智商的财富"，甚至还希望受骗人能感谢、感恩他，确实也是够奇葩的。 新闻报道称，鑫慷嘉平台盗用迪拜黄金与商品交易所（DGCX）的名义，谎称自己是DGCX交易所的中国分站（但实际并无授权与相关资质）。平台以虚 拟货币投资为幌子， 声称投资人通过鑫慷嘉平台可以参与境外黄金、原油投资，每日可获得本金1%的超高收益，通过稳定币USDT进行资金结算。 除了离谱的收益率之外，鑫慷嘉还构建了"军事化"的传销架构：将全国划分为四大战区，按照团队人数确定级别和分成比例，从"班长"到"司令员"共设9 个级别，最高级别直推一人可获得150枚USDT奖励，是非常典型的"传销模式"。 「 那么，这个平台究竟是用什么手段诈骗的呢？ 总之，事已至此，受骗 ...

《科创板日报》18日讯，中国工业互联网研究院近日举办"稳定币与工业数字资产研讨会"，围绕稳定币 政策监管、工业数字资产转化、RWA与工业互联网融合发展等核心议题，展开交流研讨。工业和信息 化部信息技术发展司有关同志到会指导。国信证券股份有限公司、软银亚洲风险投资公司、复星财富国 际控股有限公司等金融领域的企业专家代表出席会议。 中国工业互联网研究院召开稳定币与工业数字资产研讨会 ...

美国众议院周四通过了一项法案，旨在为与美元挂钩的加密货币代币（即稳定币）建立监管框架。该法 案已提交总统唐纳德·特朗普，预计特朗普将签署成为法律。 他说："世界各地的支付系统正在经历一场革命。" 支付体系将迎来重大革命 三天前提醒过一次，circle/ hood /coin 表现两天了 此次投票标志着数字资产行业的一个分水岭。多年来，该行业一直在推动联邦立法，并在去年的选举中 投入大量资金，以支持支持加密货币的 候选人。 这项将直接提交给特朗普的法案名为《天才法案》（GENIUS Act）。该法案为一种名为"稳定币"的加 密货币设定了初步的护栏和消费者保护措施。稳定币与美元等"稳定"资产挂钩，以降低其波动性。 众议院金融服务委员会主席弗伦奇·希尔在周四的辩论中表示，该法案将"确保美国的竞争力并为我们的 消费者提供强有力的保障"。 ...

Group 1 - The white liquor industry is experiencing a significant downturn, with 6 companies expected to see a year-on-year decline of over 50% in their performance for the first half of the year [1] - Among the 20 A-share listed liquor companies, 7 have disclosed performance forecasts, with 4 companies, including Jinzhongzi Liquor and Huangtai Liquor, predicting losses [1] - The downward pressure on performance is shifting from small and medium-sized enterprises to larger companies, indicating a deepening adjustment in the industry [1] Group 2 - Zongheng Co. announced that its controlling shareholder will transfer 999,600 shares, representing 11.41% of the total share capital, to the other party in a divorce settlement, valued at approximately 5.36 million [3] - Hangzhou Bank reported a net profit of 11.662 billion yuan for the first half of 2025, a year-on-year increase of 16.67% [22] - Zhongwei Company expects a net profit increase of 31.6% to 41.3% year-on-year for the first half of 2025, with revenue growth of approximately 43.88% [24] Group 3 - Oriental Yuhong plans to acquire 100% of Chilean construction material retail company Construmart S.A. for approximately 1.23 billion USD [18] - The company Beiyinmei's controlling shareholder has applied for pre-restructuring, with a significant portion of shares being pledged or frozen [17] - Huazi Industrial announced a major board reshuffle following a change in actual control [20]

Group 1: Stablecoin Legislation - The U.S. Congress has officially approved the stablecoin bill with a vote of 308 in favor and 122 against, awaiting Trump's signature for enactment [1] - The bill provides significant legitimacy for stablecoin issuers, with major players like JPMorgan and Bank of America viewing it as a prerequisite for entering the stablecoin market [1] - The next step for Congress is to advance a comprehensive legislative framework for the cryptocurrency industry [1] Group 2: Luxury Car Consumption Tax Adjustment - The Ministry of Finance and the State Taxation Administration have announced a reduction in the consumption tax threshold for ultra-luxury cars from 1.3 million yuan to 900,000 yuan [2] - Pure electric and fuel cell vehicles without cylinder capacity will only be taxed at the retail level, while those with cylinder capacity will continue to be taxed at both production (import) and retail levels [2] Group 3: OpenAI's ChatGPT Agent Release - OpenAI has launched the ChatGPT Agent, a general-purpose AI agent capable of autonomous thinking and action [3] - The ChatGPT Agent can select appropriate tools from its skill set, including Operator, Deep Research, and ChatGPT, to complete complex tasks [3] Group 4: Support for Free Trade Zones - The Ministry of Commerce has expressed support for free trade pilot zones to actively align with international high-standard economic and trade rules [4] - The initiative aims to enhance the construction of open platforms and accelerate the implementation of core policies for the Hainan Free Trade Port [4] Group 5: Market Insights - Guotai Junan predicts that the stock index may experience horizontal consolidation, which is seen as a preparation for new highs, with short-term market fluctuations [6] - Zheshang Securities suggests that the market may require horizontal consolidation in the short term, with limited downside potential and opportunities for individual stocks [7] - Dongfang Securities emphasizes that the technology growth sector remains a long-term market focus, supported by policy and industrial upgrades [8] Group 6: Policy Focus and Industry Developments - The Ministry of Housing and Urban-Rural Development is promoting new urban infrastructure construction and accelerating the upgrade of old pipelines, which may create more opportunities in the building materials industry [9] - Shenzhen has announced measures to support the micro-short drama industry, offering up to 2 million yuan in funding for projects [10] - Recent advancements in brain-computer interfaces have been reported, with 10 epilepsy patients achieving "thought-based communication," indicating a growing focus on medical applications in this sector [11]

耿爽说，在叙南部局势动荡之际，以色列近日对苏韦达、德拉、大马士革等地多次发动空袭，甚至 对叙关键"政府部门"实施军事打击。以方行为严重违反国际法，侵犯叙主权、安全和领土完整，也给叙 和平稳定和政治过渡带来新的复杂因素，中方对此予以明确谴责。中方呼吁以色列立即停止对叙利亚的 军事打击，尽快从叙领土撤出。国际社会公认戈兰地区是叙被占领土，叙利亚的主权、统一和领土完整 应当得到尊重，安理会有关决议应当得到落实，1974年《部队脱离接触协议》应当得到遵守，联合国脱 离接触观察员部队根据授权履职应当得到保障。 耿爽说，过去一周，叙南部苏韦达地区安全局势骤然紧张，族群矛盾尖锐对立，武装冲突迅速升 级，已经造成数百人死亡。当务之急是尽快稳定安全局势、恢复社会秩序。中方注意到叙临时当局已同 有关方面达成停火，呼吁各方恪守停火协议，保持冷静克制，停止敌对行动，推动局势早日缓和降温。 苏韦达冲突再次表明，当前叙局势依然复杂脆弱，实现和平稳定仍然面临艰巨挑战。叙临时当局要根据 安理会第2254号决议确定的原则，持续推进各界广泛参与的政治进程，通过包容对话解决各方关切，有 效促进内部团结和解。反恐是叙利亚恢复和平稳定的重要方面。叙临 ...

随着监管框架确立，PayPal、苹果等科技巨头可能加速布局稳定币业务。美联储理事沃勒表示："在确保金融稳定的前提下，将支持私营部门创新。"市场预 计，未来12个月全球稳定币市场规模有望从当前1500亿美元扩张至3000亿美元。 美联储同日公布6月货币政策会议纪要，显示多数官员认为"通胀持续降温"，为降息铺平道路。CME利率期货显示，9月降息概率已升至85%，年内或累计降 息50个基点。受此影响，比特币突破6.3万美元，以太坊站上3400美元，加密货币总市值单日增长逾800亿美元。 市场反应热烈： 专家指出，稳定币监管落地将显著降低加密货币市场波动，而美联储转向宽松政策可能引发新一轮全球资金轮动。值得注意的是，法案特别要求发行方定期 披露储备金构成，这或对部分透明度不足的稳定币构成压力。 美国国会正式通过《稳定币监管法案》，为加密货币市场确立首个联邦级监管框架。与此同时，美联储释放强烈降息信号，双重利好刺激全球风险资产集体 走高。 此次通过的稳定币法案明确要求发行方必须保持1:1储备金，并接受美联储和财政部双重监管。法案还规定，非银行机构发行稳定币需获得特许执照，而银 行机构可直接开展业务。分析认为，该法案将大 ...