24H Hot Currencies and News | Trump Signs GENIUS Act; White House Plans to Release First Crypto Policy Report on July 22

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1. Popular currencies on CEX

CEX top 10 trading volume and 24-hour rise and fall:

BTC: -0.48%
ETH: +4.36%
XRP: +0.47%
SOL: +1.25%
DOGE: +8.53%
BNB: +2.69%
ADA: +2.74%
LTC: +4.82%
PEPE: +1.91%
CFX: +113.96%

24H increase list (data source: OKX):

CFX: +113.96%
OM: +48.01%
SPK: +20.01%
ACH: +18.68%
AR: +18.25%
BANANA: +16.20%
BLUR: +14.56%
IOST: +14.13%
G: +13.83%
ZKJ: +11.69%

2. Top 5 popular memes on the chain (data source: جی ایم جی این ):

Dege
ٹرمپ
Fartcoin
پمپ
baby grok

3. 24H hot search currencies

CFX: Possibly influenced by the news that Conflux plans to participate in the pilot issuance of RMB stablecoin, CFX rose by more than 100% in 24 hours.

شہ سرخیاں

Trump signs GENIUS Act, the first federal regulatory framework for stablecoins in the United States

US President Trump has officially signed the GENIUS Act, marking the first federal regulation on کرپٹو assets. The Act requires that stablecoins must be 100% reserved in US dollars or equivalent liquid assets, and that issuers with a market value of more than US$50 billion be subject to annual audits, while also setting regulatory گائیڈlines for overseas issuance. Executives from Circle, Tether, Coinbase and others attended the signing ceremony, and Trump said the move would establish the United States dominance in global finance and crypto technology.

White House to release first encryption policy report on July 22

The White House will release its first crypto policy report this week, July 22, as required by Executive Order 14178. (Cointelegraph)

Ethereum launches The Torch NFT to commemorate its 10th anniversary, to be minted on July 30

Ethereum announced the launch of The Torch NFT on the X platform to pay tribute to the people and values that shaped the development of Ethereum in its first decade and will help build Ethereum in the future. It is reported that this The Torch NFT will be symbolically passed between wallets and will be destroyed to commemorate the tenth anniversary of the founding of Ethereum. In addition, everyone can mint a commemorative NFT on July 30.

Binance Alpha launches UPTOP, users with at least 180 Alpha points can claim the airdrop

Binance announced that UPTOP is now available on the Alpha platform. Users with at least 180 Alpha points can apply for 1,500 UPTOP tokens on a first-come, first-served basis. The airdrop will be closed when the quota is exhausted or the event ends. This application will consume 15 points, and users must confirm within 24 hours, otherwise it will be considered as a waiver. In addition, Binance will launch the UPTOP trading competition with a total prize pool of 10 million UPTOP.

انڈسٹری نیوز

Xinhua News Agency commented on the US Genius Act: The credibility and international responsibility of the US dollar will affect global acceptance, and simply changing the form is not enough to consolidate the influence of the US dollar and stablecoins

Trump officially signed the Guidelines and Establishment of a National Innovation Act for Stablecoins in the United States (referred to as the Genius Act) at the White House, marking the first time that the United States has established a regulatory framework for stablecoins. Trump said that stablecoins will help increase demand for U.S. Treasury bonds, lower interest rates, and consolidate the dollars position as a global reserve currency. He reiterated that central bank digital currencies will never be allowed in the United States.

The Genius Act requires stablecoins to be backed by liquid assets such as the U.S. dollar or U.S. short-term Treasury bonds, and issuers must disclose reserve details monthly. Currently, the worlds two largest stablecoins, USDT and USDC, account for nearly 90% of the total market value. According to statistics, the stablecoin market size is about $247 billion, and U.S. Treasury Secretary Benson expects it to grow to $3.7 trillion by 2030.

Experts pointed out that the United States is pushing for stablecoins in order to take advantage of the existing advantages of the US dollar and maintain its dominant position in the global currency and payment system. Some believe that this move may ease the pressure on US debt. However, some Democratic lawmakers questioned that the bill failed to provide sufficient consumer and financial stability protection, and pointed out that the Trump family has a connection with cryptocurrencies. Some Republican lawmakers also believe that the bill conflicts with Trumps previous executive order banning central bank digital currencies. (CCTV News)

CITIC Securities: The US Stablecoin Act has been implemented, and relaxed regulation is conducive to market expansion

According to a research report by CITIC Securities, on July 17, Eastern Time, the U.S. Congress passed the GENIUS Act, marking the official launch of the first federal-level stablecoin regulatory framework in the United States. Judging from the process of advancing the bill, after the passage of the Big and Beautiful Act, crypto legislation was quickly listed as the top agenda of the House of Representatives, and Trump personally promoted consensus within the Republican Party, highlighting the priority of the crypto field in the U.S. policy framework. Judging from the content of the bill, the House of Representatives did not make substantive changes to the version passed by the Senate, and still retained a relatively loose regulatory framework that is mainly federal and supplemented by the state level. Looking ahead, as the regulatory details of the GENIUS Act are implemented, U.S. financial and technology giants are expected to accelerate their entry, promote the accelerated spread of stablecoins from issuance to application scenarios, and may bring about a continued expansion of the stablecoin market size. (Securities Times)

Zheshang Securities: The regulatory difficulties brought by RWA may lead to the expansion of US dollar credit in stages

Zhejiang Securities released a research report saying that the macro impact of RWA (real world assets) also lies in creating a global capital market on the blockchain, accelerating the replacement of traditional finance by on-chain finance, and may lead to further expansion of US dollar credit in stages. RWA, stablecoins and decentralized finance (smart contracts) mirror the investment targets, legal tender, and financial intermediary functions in the traditional financial system on the blockchain. The three work together to form a new financial closed loop on the blockchain. In the long run, the RWA on-chain mechanism is a potential challenge to traditional financial institutions, including banks, securities firms, insurance, and exchanges. (Jinshi)

UK Treasury plans to sell over £5 billion worth of Bitcoin assets to ease fiscal gap

British Chancellor of the Exchequer Rachel Reeves is considering selling Bitcoin assets seized by the police to fill the gap in public finances. The assets are valued at more than 5 billion pounds, including 61,000 Bitcoins seized from a Chinese Ponzi scheme in 2018, and their current value has increased by about 20 times. To support the relevant plans, the UK Home Office is promoting the establishment of a Crypto Asset Custody and Disposal Framework to uniformly manage and sell such assets. The project is currently in the bidding stage, and the upper limit of the sales commission is 40 million pounds.

پروجیکٹ نیوز

The PUMP projects associated address recharged 2 billion PUMP to Binance four days ago

According to monitoring by on-chain analyst Aunt Ai, a certain address had previously received 12.5 billion PUMPs from the project party, of which about 2.5 billion were suspected to be allocated to Wintermute market making, and 8 billion had been recharged to Bybit. Four days ago, the address also recharged 2 billion PUMPs into Binance, which is approximately US$12.75 million based on the current price.

Ether.fi will be launched on the HyperLiquid ecosystem and launch beHYPE staking token

Ether.fi announced its entry into the HyperLiquid ecosystem and will work with the DeFi protocol HyperBeat to launch the liquidity pledge token beHYPE. In the early stages of the project, the multi-signature-secured pre-deposit vault preHYPE will be opened, where users can deposit funds in advance to enjoy early returns and HyperBeat incentive points hearts distribution. The vault will be fully controlled by smart contracts within six weeks. Currently, the total locked-in amount of HyperEVM has exceeded 2 billion US dollars.

WLFI spent $200,000 to purchase BANK, TAG, EGL1 , LIBERTY, B

According to Onchain Lens monitoring, the Trump familys crypto project World Liberty Finance address 0x a 713 invested $200,000 to purchase five tokens, including 636,683 BANK, 72.92 million TAG, 396,371 EGL1 , 409,387 LIBERTY and 78,922 B, with the purchase amount of each asset being $40,000.

dYdX acquires crypto social trading platform Pocket Protector, marking its first external acquisition

Decentralized derivatives exchange dYdX has completed the acquisition of crypto social trading platform Pocket Protector, its first external acquisition. The transaction was completed in a combination of cash + DYDX tokens, and the specific amount was not disclosed. The two co-founders of Pocket Protector will join dYdX as president and head of growth respectively, and the Telegram trading robot (including copy trading function) and the 9-person technical team they developed will be incorporated into dYdX. Pocket Protector was founded last year and has raised $7 million from investors such as Electric Capital and Dragonfly.

کردار* آواز

Vitalik: About 50% of the votes support raising the Ethereum L1 Gas limit to 45 million

Ethereum co-founder Vitalik said in a post on the X platform that “almost exactly 50% of the stakers voted in favor of raising the L1 Gas limit to 45 million. The Gas limit has already started to increase and is now 37.3 million.”

Yi Lihua: After BTC and ETH rise, it will be the turn of other powerful altcoins. If you try to invest in the right coins, your returns may outperform the market.

Yi Lihua, founder of LD Capital, said in a post: There has always been a cycle of rising prices in the bull market of the cryptocurrency circle. BTC and ETH will reach the top first, followed by mainstream medium-sized coins such as XRP, LTC, UNI, etc., and finally various powerful altcoins. If you work hard to invest in some varieties and strive for returns, you will outperform the market.

Mastercard exec: GENIUS Act brings “turning point” to stablecoin adoption

Jesse McWaters, global policy director at Mastercard, said the GENIUS Act marks a turning point for the mainstream adoption of stablecoins, which is expected to drive institutional entry and promote the development of compliant stablecoins. He believes that the bill has ushered in a new era of regulatory clarity and confidence in digital assets, allowing regulated institutions to issue stablecoins backed by the U.S. dollar. Several institutions, including JPMorgan Chase, Citi, Bank of America, Amazon and Apple, are already advancing related plans. McWaters added: Mastercard has been preparing for this moment for a long time. (DLNews)

Tether CEO: We will promote USDT compliance and enter the United States

After the GENIUS Act was signed, Tether CEO Paolo Ardoino said that he would promote USDT to enter the US market through the foreign issuer channel in the new bill, and planned to launch a local dollar stablecoin. Although USDT has never completed a comprehensive audit, Tether promised to meet compliance requirements within three years.

This article is sourced from the internet: 24H Hot Currencies and News | Trump Signs GENIUS Act; White House Plans to Release First Crypto Policy Report on July 22 (July 21)

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