Core Insights - The rise of quantitative exchanges has fundamentally reshaped market structures, providing a high-speed, intelligent trading environment that processes millions of orders per second [1][8] - These exchanges serve as the core "nervous system" of financial markets, enabling efficient capital flow and pricing without predicting market movements [12] Group 1: Infrastructure and Functionality - Quantitative exchanges operate with microsecond-level order execution capabilities, allowing for rapid translation of strategy signals into trades [6] - They aggregate global buy and sell demands, ensuring that large trades can be executed smoothly without causing significant price fluctuations [6] - The built-in real-time monitoring systems act as a first line of defense against abnormal trading activities, contributing to market stability [6] Group 2: Resilience and Performance - During the March 2020 stock market "circuit breaker" events, major quantitative exchanges demonstrated their resilience by maintaining basic operational functions under extreme pressure [4] - The transparent operational mechanisms of these exchanges facilitate fair order matching and clear data flows, enhancing market efficiency [6] Group 3: Innovation and Future Prospects - The emergence of decentralized finance (DeFi) is leading to a diversification of technology-driven trading venues, combining traditional exchange performance with blockchain transparency [8] - Quantitative exchanges are seen as cost efficiency revolutionaries, significantly reducing manual and error costs through automation, benefiting the entire market [10] - They are also viewed as incubators for innovative technologies, fostering the integration of AI, big data analytics, and blockchain within the financial sector [10]

Core Viewpoint - The Beijing Internet Finance Industry Association warns the public to be highly vigilant against investment projects that promise high returns and capital protection, emphasizing that "high returns are always accompanied by high risks" [1][3] Group 1: Characteristics of Illegal Fundraising Activities - Lack of Qualification: These institutions or individuals lack the legal qualifications to absorb deposits, sell financial products, or issue securities, as they are not approved or registered by the State Council's financial management departments [2] - Concept Packaging: They exploit emerging and complex concepts like "stablecoins," "decentralized finance (DeFi)," and "Web 3.0" to create information asymmetry and confuse investors [2] - False Promises: There is a prevalence of exaggerated claims and false promises, such as "guaranteed profits," "high fixed returns," and "capital protection," which prey on the public's desire for high returns [2] Group 2: Operational Risks and Consequences - Fund Pool Operation: Their operational model often relies on attracting new investors' funds to maintain operations or pay returns to earlier investors, leading to significant risks if the funding chain breaks or the project fails [2] - Risk Spillover: Such activities can easily evolve into illegal fundraising, financial fraud, pyramid schemes, and money laundering, severely disrupting the economic and financial order and harming public property safety [2] Group 3: Consumer Warnings and Recommendations - The association urges consumers to recognize the nature of these investment projects and to verify the legal qualifications of related institutions and products through official channels before investing [3] - Consumers are advised to understand the complexity and volatility of "stablecoins" and related innovations, and to adopt a rational investment mindset [3] - The public is encouraged to resist and stay away from any form of virtual currency speculation, illegal token issuance, and unapproved "digital asset" investment projects to protect personal property [3]

Core Viewpoint - The Beijing Internet Finance Industry Association has issued a warning regarding the risks of illegal fundraising through the use of "stablecoins" and other new financial concepts, highlighting the exploitation of public interest in digital currencies and related technologies [1] Group 1 - The recent market attention on various digital currencies, particularly "stablecoins," has led to the emergence of fraudulent entities that misrepresent themselves as innovative financial institutions [1] - These fraudulent organizations leverage public naivety towards new financial concepts, promoting schemes that promise high returns through the issuance or speculation of so-called "virtual currencies," "digital assets," and "stablecoin investment projects" [1] - The warning emphasizes the need for public awareness and caution against investing in these misleading financial products [1]

Pain Points in Traditional Prediction Industry - Traditional platforms suffer from a lack of fairness and transparency, including issues like manipulating odds and delaying payments [1] - Security and trust are major concerns due to fund freezes and platforms disappearing [1] - Traditional platforms lack effective incentive mechanisms to enhance user loyalty [4] - Traditional prediction ecosystems are closed, lacking asset appreciation channels [7] Hash Epoch's Blockchain Solutions - Blockchain technology ensures data transparency and fairness through immutable smart contracts and hash-based random number generation [1] - Smart contracts manage user funds, and a 1:1 collateral mechanism ensures payment capability [2][3] - A multi-dimensional incentive system rewards users with HEST tokens for tasks, social sharing, and staking [5] - A loss compensation mechanism provides HEST token rewards to users who lose predictions, reducing risk [6] - DeFi integration allows users to earn interest by investing idle funds in liquidity pools [8] - Users can participate in node validation by staking HEST, sharing platform revenue [8]

【导读】稳定币引爆市场，公募解读投资机会 "稳定币行情"再躁动。 7月8日，港股金涌投资盘中股价一度涨超650%，创下近年来罕见涨幅。市场异动的背后，是一则合作 公告的发布。就在前一天，金涌投资宣布和金融科技公司AnchorX签了个战略合作备忘录，重点是搞最 近很火的"稳定币"。 而在上一个交易日，A股、港股市场中，跨境支付、稳定币概念股等也集体走强。 在基金公司看来，作为锚定法定货币或大宗商品价值的加密货币，稳定币凭借储备资产与算法机制维持 价格稳定，既具备加密货币的便捷性和去中心化特点，又有相对稳定的价值。 北信瑞丰基金基金经理于军华表示，所谓的稳定币，是一种与信用货币或黄金等具有稳定性的储备资产 挂钩的数字货币，通常被认为是介于加密货币和法定货币之间的沟通桥梁，其目的在于保持法定货币与 加密货币之间交易时的价格稳定。 在于军华看来，法币稳定币本质上更接近传统的信用货币，安全效率高，但也是去中心化的。稳定币有 独立受监管的发行方，一般要定期接受审计。 稳定币有什么作用？ 华富基金认为，首先，作为锚定法定货币或大宗商品价值的加密货币，稳定币连接了现实世界与加密世 界；其次，是效率的巨大提升。稳定币能让跨境支 ...

Core Viewpoint - The Hong Kong government has launched the "Digital Asset Development Policy Declaration 2.0," marking a significant step in establishing a systematic regulatory framework for digital assets, aiming to position Hong Kong as a global leader in the digital asset sector [1][2]. Group 1: LEAP Framework - The "LEAP" framework proposed in the declaration systematically outlines the development path for Hong Kong's digital asset industry, focusing on optimizing legal and regulatory measures [3]. - A unified and comprehensive regulatory framework for digital asset service providers is being developed, covering trading platforms, stablecoin issuers, and custodial service providers, with the Securities and Futures Commission as the main regulatory body [3]. Group 2: Tokenization and Innovation - The government plans to regularize the issuance of tokenized government bonds and explore other innovative options to provide stable and high-quality digital bonds [4]. - There is an emphasis on expanding the types of tokenized products, including traditional financial products and real-world asset cash flows, as well as precious metals and renewable energy [4]. Group 3: Application Scenarios and Talent Development - The government supports stablecoin and other tokenization projects, implementing a regulatory framework for stablecoin issuers starting August 1 [6]. - There is a focus on talent development in the digital asset industry, particularly in blockchain applications and AI integration, promoting strategic collaborations between universities and the industry [6]. Group 4: Commitment to Digital Asset Leadership - The declaration reflects Hong Kong's commitment to becoming a leader in the global digital asset space through a unified regulatory framework and the promotion of tokenization and stablecoin applications [7]. - The framework aims to provide a clear path for enterprises and investors to thrive in a secure and vibrant digital asset market, ensuring Hong Kong maintains its leading position in the digital transformation wave [7].

币界网7月6日讯，在当下复杂的国际金融环境里，XBIT去中心化交易所平台作为web3交易所的重要一 员，凭借其依托区块链技术构建的交易体系，为币圈投资者提供了安全且高效的交易环境。而美元正面 临夏季关键的外汇挑战，其走向与关税引发的通胀预期紧密相关，这一不确定性也让加密货币市场随之 起伏，比特币等数字货币价格波动明显。无论是经验丰富的老投资者，还是刚踏入币圈的新手，都在密 切关注着市场的每一个细微变化，试图从中找到合适的投资机会。 近期，美元在上半年出现了大幅贬值。这一现象背后，是经济与政策的不确定性以及全球外汇格局的新 变化，使得美元成为美国风险溢价的主要承载者。市场对于美联储的政策走向高度关注，核心在于关税 是否会推动通胀持续上升。要知道，通胀的走向直接关系到美联储的利率政策，如果通胀持续高企，美 联储可能会推迟甚至放弃降息；反之，如果通胀得到有效控制，降息则有可能提上日程。截至目前，通 胀的不确定性让美联储暂停了降息计划，但随着夏季相关数据的发布，这一局面有望逐渐清晰。众多投 资者都在翘首以盼这些数据的公布，因为这将在很大程度上决定他们接下来的投资策略。 币界网报道，美银策略师认为，美元的疲软态势还受到 ...

Core Viewpoint - The implementation of Hong Kong's Stablecoin Regulation on August 1 is expected to transform the financial system, enhancing cross-border remittance efficiency and reducing reliance on traditional banking systems like SWIFT [1][3]. Group 1: Stablecoin Overview - Stablecoins are a type of cryptocurrency whose value is pegged to fiat currencies or commodities, making them less volatile compared to other cryptocurrencies [3]. - The global legislative interest in stablecoins is rising, with various countries, including the US and UK, advancing their own regulations [3]. Group 2: Advantages of Stablecoins - Stablecoins can mitigate geopolitical risks by providing a stable value without the need for traditional banking transactions, potentially serving as an alternative to SWIFT for cross-border transactions [3][5]. - Transactions using stablecoins are faster and cheaper compared to traditional banking systems, with blockchain technology enabling transaction confirmations in about one minute, significantly reducing settlement times and costs [6]. Group 3: Market Implications - The clarity in stablecoin regulations has led to increased interest in related stocks in both US and Hong Kong markets, with a list of companies involved in stablecoin issuance and technology emerging [7]. - Major companies like Circle, Coinbase, and PayPal are actively involved in the stablecoin space, indicating a growing market presence [7]. Group 4: Impact on the Renminbi - The development of stablecoins could bolster the international status of the Renminbi, with Hong Kong potentially serving as a testing ground for Renminbi-linked stablecoins [8][10]. - Recent data shows that the Renminbi's share in bilateral trade settlements has reached over 30%, suggesting a growing acceptance that could be further enhanced by stablecoin initiatives [10]. Group 5: Challenges and Considerations - Despite the potential benefits, the international recognition of the Renminbi still depends on its inherent attractiveness, which is currently challenged by concerns over China's debt levels and economic stability [10]. - Structural reforms and easing of currency controls are necessary to enhance the appeal of Renminbi assets in the global market [10].

Core Viewpoint - The stock of Gold Surge Investment in Hong Kong has surged over 100% following the announcement of a strategic cooperation framework memorandum with AnchorX, set to explore various areas of collaboration [1] Group 1: Strategic Cooperation - The memorandum was signed on July 4, 2025, and outlines potential collaboration in cross-border payments and trade [1] - The partnership aims to expand the application scenarios of stablecoins [1] - There will be a focus on digital asset trading and management, as well as investments in blockchain technology and financial technology [1]

Core Viewpoint - The rapid development of Internet of Vehicles (IoV) technology has highlighted data security issues, and blockchain technology shows great potential in addressing these needs through its decentralized and immutable characteristics. However, storage pressure on blockchain nodes poses a significant challenge to its widespread application [1]. Group 1: Blockchain Technology and IoV - Blockchain technology faces dual challenges in IoV applications: storage pressure and cross-shard communication efficiency. Most existing nodes struggle to meet the growing storage demands, while frequent cross-shard communication affects overall blockchain performance [1]. - MicroCloud Holo (NASDAQ: HOLO) has proposed innovative sharding methods that effectively alleviate storage pressure on blockchain nodes while enhancing system performance and efficiency [1]. Group 2: Content Sharding Method - The content sharding method optimizes the storage process of blockchain. It categorizes data generated by different vehicles and infrastructure based on their characteristics and importance, distributing these data segments across multiple nodes to reduce individual node storage pressure and improve scalability and fault tolerance [3]. - Advanced algorithms and technologies are employed in the implementation of the content sharding method, including detailed sharding strategies based on data characteristics and the use of smart contracts for automated sharding processes [3]. Group 3: Node Sharding Method - The node sharding method focuses on optimizing the computational process of blockchain. It divides nodes in the network into different shards, allowing nodes within each shard to collaborate and cache the entire blockchain data, thereby reducing the frequency of cross-shard communication and enhancing system performance [4]. - The implementation of the node sharding method utilizes advanced network technologies and optimization algorithms, including detailed sharding strategies based on network topology and the use of P2P network protocols for communication and collaboration among nodes [4]. Group 4: Future Prospects - MicroCloud Holo's innovative sharding technology offers new solutions for data security in the IoV sector by optimizing blockchain storage and computational processes, effectively alleviating storage pressure on nodes and improving system performance and efficiency [5]. - The technology also demonstrates good scalability and fault tolerance, making it adaptable to various scales and complexities of IoV systems. The company plans to continue its focus on data security in IoV, driving technological innovation and application while actively collaborating with upstream and downstream enterprises in the industry [5].