1. U.S. Senate Passes the "Genius Act," Potential Turning Point for Stablecoin Development
On July 12, according to DL News, the "Genius Act" passed by the U.S. Senate is drawing attention from the banking and legal sectors. The bill grants stablecoin holders a priority claim on their supporting assets in bankruptcy situations, which could pose risks to traditional banks and other clients. Georgetown University law professor Adam Levitin warned that this arrangement essentially "subsidizes stablecoin issuance at the expense of bank deposits," potentially harming the interests of ordinary bank customers, especially in the event of bankruptcy of the stablecoin issuer or its custodian bank. The current version of the bill stipulates that stablecoins must be backed by highly liquid assets (such as U.S. Treasury bonds), issuers must disclose reserve status monthly, and have the ability to freeze tokens. If passed, banks and other entities will be able to issue compliant stablecoins. The bill is currently awaiting review by the U.S. House of Representatives. Although it aims to enhance user confidence and strengthen the connection between stablecoins and the real financial system, its design regarding bankruptcy handling priorities has also sparked discussions on regulatory logic, financial stability, and potential interbank interest distribution. Industry insiders suggest that this bill could become a turning point for stablecoin development while also intensifying concerns about its impact on the traditional financial system. -Original
2. Multiple Whales Short ETH with High Leverage, Positions Worth Over $140 Million
On July 12, according to Lookonchain monitoring, 0x8c58 deposited 3.74 million USDC into Hyperliquid in the past hour and shorted 18,394 ETH with 15x leverage (position value $54.3 million). 0x2258 deposited 3.25 million USDC 16 hours ago and shorted 16,219 ETH with 25x leverage (position value $48 million). 0xec4b shorted 13,845 ETH with 15x leverage (position value $41.07 million). -Original
3. Nasdaq-Listed Company BTC Digital Establishes $1 Million ETH Strategic Reserve
According to The Block, Nasdaq-listed company BTC Digital announced that it has established a strategic reserve of $1 million in Ethereum native tokens and plans to expand this reserve. -Original
4. Japanese Listed Company Remixpoint Increases Holdings by 116.72 BTC, Total Holdings Reach 1,168.28 BTC
On July 11, Japanese listed company Remixpoint increased its holdings by 116.72 BTC, bringing its total holdings to 1,168.28 BTC. -Original
5. GMX Hacker Returns $40.5 Million Worth of Stolen Assets
On July 11, according to Onchain Lens monitoring, the GMX hacker has returned a total of $40.5 million worth of stolen crypto assets, including 10,000 ETH and 10.5 million FRAX. The hacker currently holds 1,700 ETH, valued at approximately $5.12 million. -Original
6. Coinbase Sues Oregon Governor for Disclosure of Crypto Regulatory Policy Change Records
Coinbase has filed a lawsuit in Marion County Circuit Court in Oregon against Governor Tina Kotek, demanding the disclosure of public records related to sudden changes in crypto asset regulatory policies. Coinbase pointed out that the Oregon government abruptly changed its long-standing policy position in April 2025 and sued Coinbase without public participation, claiming that the trading of 31 digital assets on its platform constitutes regulated securities trading. Coinbase emphasized that this policy change affects hundreds of thousands of digital asset holders and traders in Oregon, but the entire process lacked public discussion or rule-making procedures. The company stated that this lawsuit is not against the state attorney general's accusations against Coinbase itself, but rather about whether the state government violated public records law by failing to disclose information behind its new regulatory stance. -Original
7. U.S. Listed Company Signing Day Sports Submits Business Merger Statement, Focusing on Crypto Mining
On July 11, Signing Day Sports (NYSE American: SGN) announced that it has submitted a confidential registration statement draft on Form S-4 to the U.S. Securities and Exchange Commission (SEC) through its newly established Delaware company BlockchAIn Digital Infrastructure. The previously announced business merger agreement involves the merger of Signing Day Sports with One Blockchain LLC, a digital infrastructure developer focused on Bitcoin mining and high-performance computing, with projected revenue of approximately $26.8 million and net income of about $5.7 million in 2024. The transaction requires approval from Signing Day Sports shareholders and listing approval from the New York Stock Exchange American LLC. The merged company will focus on the cryptocurrency mining, artificial intelligence, and high-performance computing data hosting markets. -Original
8. U.S. Digital Asset Director States Next Week is a Key Point for U.S. Cryptocurrency Development
The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin (aicoin.com).
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