Market Overview - The U.S. stock market showed mixed results with the Dow Jones down by 224.48 points (0.51%) closing at 43968.64, while the Nasdaq rose by 73.27 points (0.35%) to 21242.7 [1] - European markets saw the DAX30 index increase by 287.71 points (1.20%) to 24192.24, while the FTSE 100 dropped by 63.14 points (0.69%) to 9101.17 [1] - The Nikkei 225 index in Asia rose by 0.6%, while the KOSPI index saw a slight increase and the Indonesian Composite index fell by 0.15% [2] Commodity Prices - Gold prices increased with spot gold rising by 0.86% to $3398.39 per ounce, while COMEX gold futures rose by 1.12% to $3471.70 per ounce [3] - Crude oil prices fell, with light crude oil futures for September down by $0.47 to $63.88 per barrel (0.73% decline) and Brent crude for October down by $0.46 to $66.43 per barrel (0.69% decline) [2] Cryptocurrency - Bitcoin rose over 2% to $117,263.8, while Ethereum increased by over 5% to $3,873.15 [4] Employment Data - The number of Americans continuing to claim unemployment benefits surged to 1.97 million, the highest level since November 2021, indicating a cooling labor market [5] - Initial claims for unemployment benefits also rose to 226,000, slightly above economists' expectations [5] Corporate News - Trump nominated Stephen Milan to serve on the Federal Reserve Board until January 2026, highlighting his economic expertise [6] - Microsoft announced the integration of OpenAI's GPT-5 into its product ecosystem, enhancing capabilities across various applications [10] - General Motors plans to import lithium iron phosphate (LFP) batteries from China's CATL for its second-generation Chevrolet Bolt EV, despite an 80% tariff imposed by Trump [11]

Group 1 - Tokenization is a global fintech trend that is significantly changing the operation of financial markets, with Hong Kong establishing a leading position in this field [1] - The global asset management scale of tokenized funds has surpassed $2 billion and is expected to reach $600 billion by 2030, representing about 1% of the global mutual fund and ETF market [1] - The Hong Kong government has implemented a clear regulatory framework for stablecoin issuers with the stablecoin bill effective from August 1, 2023, and is currently conducting public consultations for digital asset service providers [1] Group 2 - In February 2023, Hong Kong issued the world's first tokenized green bond worth HKD 800 million, utilizing blockchain for payment settlement, reinforcing its leadership in green finance and tokenization [2] - The first retail tokenized money market fund in the Asia-Pacific region was launched, lowering investment barriers and facilitating investor participation in digital asset management [2] - The government plans to regularly issue tokenized government bonds, provide stamp duty exemptions for tokenized ETFs, and explore tokenization applications for various assets like precious metals and renewable energy [2]

Core Insights - The U.S. cryptocurrency market is experiencing unprecedented regulatory developments, including a comprehensive digital asset policy report from the White House, CFTC's consideration of spot cryptocurrency trading, and SEC's updates on stablecoin accounting rules and the launch of "Project Crypto" [2][4][6] Group 1: Regulatory Developments - The White House's digital asset policy report, spanning 163 pages, outlines a broad regulatory roadmap for cryptocurrencies, aiming to position the U.S. as a leader in the digital asset market [4] - The report recommends that Congress authorize the CFTC to regulate the spot market for non-security digital assets and emphasizes the need for modernized banking regulations for digital assets [4] - The CFTC is considering allowing spot cryptocurrency trading on registered futures exchanges, marking a significant step towards compliance in the spot crypto trading space [4][6] Group 2: SEC Initiatives - The SEC has updated its guidelines on stablecoin accounting, indicating that stablecoins with a secure redemption mechanism may be classified as "cash equivalents" [4] - The SEC's "Project Crypto" aims to fundamentally reshape the regulatory framework for cryptocurrencies, promoting decentralized finance (DeFi) systems and traditional asset tokenization [4] - The SEC plans to establish clear disclosure standards for common blockchain economic activities, potentially making the U.S. a preferred location for token issuance and fundraising [4] Group 3: Presidential Actions - President Trump is preparing to sign an executive order targeting financial institutions that engage in "de-banking" practices against cryptocurrency companies, addressing long-standing banking service challenges faced by the industry [5][7] - The executive order aims to investigate potential violations of laws related to equal credit opportunities and consumer financial protection by financial institutions [7] Group 4: Market Impact - The combined regulatory actions signal a transformative moment for the U.S. cryptocurrency market, indicating a shift from a decentralized governance model to a more institutionalized framework [6] - Significant institutional investments are being observed, with Strategy purchasing approximately $2.46 billion worth of Bitcoin, reflecting growing confidence in the market [7] - Ethereum is gaining attention, with a notable increase in open interest, suggesting a strategic rise in its asset allocation among treasury-type companies [7]

Group 1 - Delin Holdings (01709) opened down over 7%, currently down 7.46% at HKD 3.1, with a trading volume of HKD 609 million [1] - The company announced a placement of 201 million shares at HKD 2.95 per share, representing a discount of approximately 11.94% from the closing price of HKD 3.35 on August 6, aiming to raise approximately HKD 581 million [1] - Additionally, the company plans to issue 20 million shares to DA Wolf, wholly owned by executive director and controlling shareholder Chen Ningdi, at the same price of HKD 2.95, expecting to raise about HKD 58.57 million [1] Group 2 - The net proceeds from the fundraising will be allocated as follows: approximately 30% for strategic acquisitions and/or investments, and expansion of the RWA tokenization plan; about 15% for developing Bitcoin mining operations and establishing Bitcoin reserves; around 7% for establishing a licensed virtual asset OTC and retail network in Hong Kong, and applying for compliance licenses in Hong Kong and other jurisdictions [1] - Approximately 8% will be used for further development of the group's digital assets, cryptocurrency, and stablecoin-related business plans; about 10% for investment in the high-quality residential project ONE Carmel in the U.S.; around 10% for investment in IT facilities and system upgrades; approximately 10% for creating exchange-traded funds and developing quantitative investments; and about 10% for supplementing working capital and supporting daily operations [1]

Core Insights - Bitcoin price is currently experiencing significant fluctuations around the critical level of $114,000, indicating a pivotal moment for market direction [1][2] - The decentralized trading ecosystem is redefining the digital asset trading experience as the U.S. policy environment improves [1] Price Movements - Bitcoin's latest price is $114,019.23, down $676.70 or 0.59% from the previous trading day, with a 24-hour high of $115,096.73 and a low of $112,650.00, indicating a substantial price volatility range [2] - If Bitcoin breaks above $115,000, the total liquidation pressure from short positions could reach $694 million; conversely, a drop below $112,000 could lead to $843 million in long position liquidations [2] Institutional Confidence - Recent political developments in the U.S. are providing new momentum for Bitcoin prices, with expectations of a potential interest rate cut by the Federal Reserve [4] - Several institutions are showing strong confidence in Bitcoin, with Satsuma Technology raising $217.6 million, including 1,097 Bitcoins, increasing their holdings to 1,125 Bitcoins [4] - H100 Group and Vaultz Capital have also increased their Bitcoin holdings, reflecting a broader institutional interest in the asset [4] Growth of Digital Asset Ecosystem - The total asset scale of Real World Assets (RWA) has surpassed $25.31 billion, marking a 1.71% increase over the past 30 days, with the number of asset holders growing by 20.88% to 342,205 [6] - The collaboration between Sigma.Money and Pendle introduces a new yield model to the BNB ecosystem, enhancing the digital asset landscape [6] Decentralized Trading Platforms - XBIT.Exchange is highlighting the advantages of decentralized trading, offering a secure and user-controlled trading environment without identity verification or asset freezing risks [8] - The platform utilizes smart contract technology to ensure trustless transactions, reducing trading costs and enhancing user privacy [8] - XBIT's decentralized nature allows it to adapt to regulatory changes, providing stable and reliable Bitcoin trading services globally [8]

（原标题：越南GM2025区块链大会在河内召开） 越南国家网络安全协会研究与合作部主任武玉山表示，要将越南打造为区域区块链安全中心，需围 绕四大支柱展开工作。一是建立有力的法律框架，为各产业可持续发展奠定基础；二是强化技术标准 ——数字交易所需要拥有与传统银行相同的网络安全标准；三是加强人才建设，提高从业者与用户的网 络安全意识；四是深化国际合作，面对全球化网络攻击威胁，各国必须携手促进信息与数据库共享。 一年多来，越南在构建数字资产及区块链法律框架方面取得显著进展。法律层面上，国会近日通过 《数字技术产业法》（2026年1月1日生效）和关于设立国际金融中心的决议，财政部向政府提交了试点 建立以区块链为核心技术的数字资产交易平台的提案。政策层面上，2024年10月，政府颁布《到2025年 国家区块链技术应用与发展战略暨2030年愿景》，旨在将区块链建设成为服务经济的核心基础设施。 2024年12月，中央政治局发布第57号决议，明确把区块链列为科技创新和国家数字化转型重要突破口。 2025年6月，政府颁布第1131/Q?-TTg号决定，将区块链纳入11项战略技术之一。 建设一个安全可靠的区块链生态系统，是国家、 ...

Core Viewpoint - Boyaa Interactive (0434.HK) issued a profit warning, with its stock price dropping over 8% to HKD 7.16 during trading [1] Financial Performance - For the first half of this year, the fair value growth of digital assets has decreased compared to the previous year, leading to an estimated year-on-year profit decline of approximately 25%-35% for the company attributable to shareholders, with last year's mid-year profit restated at HKD 313 million [1] - Excluding the impact of fair value changes of financial assets such as digital assets and equity investment partnerships, the expected year-on-year profit decline for the first half of this year is around 35%-45%, primarily due to a decrease in revenue and reduced interest income from bank deposits as a result of cryptocurrency purchases [1]

若剔除数字资产及股权投资合伙企业等金融资产的公平值变动等非经营一次性因素的影响，则集团截至 2025年6月30日止六个月的公司拥有人应占利润预期将较2024年同期减少约35%至45%左右。主要由于 今年上半年收益同比减少及因购买加密货币令银行存款减少，使得该期间获得的存款利息收入预期同比 减少。 消息面上，博雅互动发盈警，由于2025年上半年数字资产的公平值增长金额较2024年上半年增长金额有 所减少，使得集团截至2025年6月30日止六个月取得公司拥有人应占利润较2024年同期预期减少约25% 至35%左右(截至2024年6月30日止六个月公司拥有人应占利润：约港币3.13亿(经重列))。 博雅互动(00434)跌超7%，截至发稿，跌7.16%，报7.26港元，成交额1168.56万港元。 ...

消息面上，博雅互动发盈警，由于2025年上半年数字资产的公平值增长金额较2024年上半年增长金额有 所减少，使得集团截至2025年6月30日止六个月取得公司拥有人应占利润较2024年同期预期减少约25% 至35%左右(截至2024年6月30日止六个月公司拥有人应占利润：约港币3.13亿(经重列))。 若剔除数字资产及股权投资合伙企业等金融资产的公平值变动等非经营一次性因素的影响，则集团截至 2025年6月30日止六个月的公司拥有人应占利润预期将较2024年同期减少约35%至45%左右。主要由于 今年上半年收益同比减少及因购买加密货币令银行存款减少，使得该期间获得的存款利息收入预期同比 减少。 智通财经APP获悉，博雅互动(00434)跌超7%，截至发稿，跌7.16%，报7.26港元，成交额1168.56万港 元。 ...

在现任美国总统唐纳德·特朗普执政期间，数字资产行业取得了一定进展。《天才法案》和《澄清法 案》等法案的出台，为行业带来了更多监管确定性。今年1月上任后不久，特朗普便下令成立加密货币 工作组，负责提出新的监管方案，履行其竞选时全面改革美国加密政策的承诺。 上周，SEC主席保罗·阿特金斯概述了多项支持加密货币的举措，包括指示工作人员制定指南，明确加 密代币在何种情况下可被认定为证券，以及各类信息披露和豁免提案。 这两家监管机构的行动，标志着长期呼吁定制化监管的加密行业，取得了重大胜利。 智通财经APP获悉，美国商品期货交易委员会(CFTC)周一宣布，将允许在该监管机构注册的期货交易 所，开展现货加密资产合约交易。CFTC代理主席卡罗琳·范表示，作为监管美国衍生品市场的机构， CFTC将与美国证券交易委员会(SEC)的"加密项目"协调合作，即刻在联邦层面开启数字资产交易。 Enigma Securities研究主管约瑟夫·爱德华兹指出："我们期望在未来两年内，除比特币和以太坊之外，更 多种类的资产能在美国市场站稳脚跟，而类似这样的举措，最终将推动这一进程。" CFTC还邀请利益相关方，就如何在指定市场中挂牌现货加密 ...