24H Hot Coins & Headlines｜Flames of War Reignite, US Launches Another Strike on Iran; US SEC Releases 2026 Regulatory Agenda Statement (July 8)

1. Hot Coins on CEX

Top 10 CEX Trading Volume and 24h Change:

• BTC: -1.22%
• ETH: -1.97%
• SOL: -3.28%
• XRP: -3.38%
• BNB: -1.72%
• ZEC: +5.00%
• DOGE: -3.84%
• TRX: +0.33%
• ADA: -5.71%
• GRAM: -9.12%

24h Gainers List (Data Source: OKX):

• EDGE: +28.20%
• AGLD: +22.47%
• LDO: +11.08%
• NES: +10.89%
• CHIP: +10.55%
• SAFE: +10.41%
• HUMA: +5.94%
• ZBCN: +5.17%
• APE: +5.02%
• KMNO: +4.95%

24h Crypto Equity Gainers List (Data Source: msx.com):

• SOXS: +19.54%
• MSTZ: +11.46%
• BWET: +8.25%
• ZSL: +8%
• NET: +7.86%
• TSLQ: +7.54%
• CONI: +7.08%
• SQQQ: +6.61%
• OXY: +6.31%
• FIG: +5.79%

2. Top 5 Trending Memes On-Chain (Data Source: GMGN):

• CZBULL
• Andy
• CaptainBNB
• palu
• My Shield and Sword

Headlines

Less than 20 Days After US-Iran Ceasefire, US Quintuples Scale of Strikes on Iran and Revokes Oil Waivers

The US launched a new wave of airstrikes on Iran and revoked a waiver that allowed Iran to sell oil globally. The US Central Command stated that the strikes aimed to impose consequences for attacks and harassment against commercial vessels carrying civilians in international waters, calling Iran's related actions unjustified, dangerous, and a clear violation of the ceasefire agreement. According to the US Treasury Department's Office of Foreign Assets Control on July 7 local time, the US revoked a general license authorizing the sale of Iranian oil, with related wind-down transactions permitted until midnight Eastern Time on July 17.

US SEC Issues 2026 Regulatory Agenda Statement: Promotes Trading of Tokenized Securities, Drives Crypto Rulemaking

SEC Chairman Paul Atkins issued a statement on the 2026 regulatory agenda, outlining plans to continue a series of regulatory reforms. These include adapting the regulatory framework to current market conditions, actively embracing innovation and new technologies, and implementing President Trump's vision of making the US the global crypto capital. The agenda aims to facilitate the launch of more crypto-related products in the US market, establish clear rules for crypto asset fundraising, and clarify regulations for market participants regarding on-chain custody and facilitating the trading of on-chain tokenized securities.

Regarding capital market reform, the SEC will push forward its 'Make IPOs Great Again' initiative. This involves reforming disclosure systems and reducing compliance costs for companies going public to encourage more firms to enter the public market, while maintaining necessary investor protections.

Industry News

Apple Begins Testing CXMT DRAM for Devices Sold in China

Citrini analyst Jukan posted, citing a Fortune magazine report, that Apple has begun testing CXMT's DRAM for use in Apple devices sold in China.

Kraken Parent Company Wins $22 Million Arbitration Against Auditor Mazars

Payward, the parent company of Kraken, won an arbitration case against its former auditor, Mazars USA. The arbitrator ruled that Mazars must pay Payward $22 million. Payward is now petitioning the Delaware Court of Chancery to confirm the arbitration award and enter a final judgment.

The dispute originated during the peak of 'Operation Choke Point 2.0' in 2022. Payward claims that Mazars abruptly withdrew from a nearly completed audit of Kraken without finding any issues with the company. Payward stated that this action damaged Kraken's reputation and forced them to spend years and significant legal fees to clear their name.

Tiger Brokers Upgrades Coinbase to Buy, Sets Target Price at $200

Tiger Brokers upgraded Coinbase's rating from Hold to Buy, setting a target price of $200. The firm stated that with improved risk-reward ratios following the significant pullback, the harshest phase of the Bitcoin bear market may be over. A new crypto market cycle is expected to begin, driven by improving liquidity, growing institutional demand, and increased risk appetite.

Project Updates

Data: Total Stablecoin Market Cap on Robinhood Chain Surpasses $200 Million

Tom Wan, Head of Data at Entropy Advisors and former analyst at 21.co, stated that the total stablecoin market cap on the Robinhood Chain has surpassed $200 million. He noted that the key factor driving this growth is Ethena. Data shows that Ethena currently holds $50 million in USDG on the Robinhood Chain and another $50 million in USDG within the Ethena × Steakhouse USDG vault. This brings the total managed assets close to $100 million, representing approximately 50% of the total USDG supply on the Robinhood Chain.

predict.fun Officially Launches Institutional-Grade Block Trading Functionality

Predict.fun, a prediction market platform on the BNB ecosystem, announced the launch of institutional-grade block trading functionality. This service offers off-chain matching and on-chain settlement for large transactions on the platform, supporting institutional users in executing high-volume prediction market trades. Through dedicated matching services, buyers and sellers can directly find counterparties and complete large orders via single peer-to-peer (P2P) transactions, avoiding issues like slippage, insufficient liquidity, and position exposure common in traditional order book trading. Reportedly, predict.fun will waive all over-the-counter (OTC) fees for the next two weeks.

Pump.fun Cumulatively Sells 4.73 Million SOL in Fee Revenue, Worth $805 Million

According on-chain analyst Ember's monitoring, after a hiatus of nearly a month, Pump.fun has continued to cash out its fee revenue. Six hours ago, it transferred 122,500 SOL to Kraken, worth $10.08 million. Since the beginning of 2024, Pump.fun has cumulatively sold approximately 4.73 million SOL in fee revenue, worth $805 million, at an average price of around $170.

SpaceX Closes Down Over 6.8%, Hits Record Low Since Listing

According to data from MSX.COM, SpaceX shares fell over 6.8% on Monday to close at $149.47, the lowest closing price since its listing.

Suspected Bitmine New Wallets Receive 40,000 ETH from Kraken and FalconX, Worth $71.62 Million

According to monitoring by Onchain Lens, two newly created wallets (0x9F9...b15, 0x17A...B5B), suspected to belong to Bitmine, received 40,000 ETH from Kraken and FalconX, worth $71.62 million.

Anthropic Reportedly Plans Expansion in Manhattan, NYC Employee Count to Double to 1,000

Anthropic is reportedly planning to expand in Manhattan, New York City, doubling its NYC employee count to 1,000. The company plans to lease a 16-story building in Hudson Square and will begin its relocation to New York City in the summer of 2026.

Zcash Nears Completion of Mathematical Proof for Hidden Inflation Bug, ZEC Rises 12%

Zcash's native token, ZEC, surged over 12% on Tuesday. This came after the team responsible for developing its privacy pools stated they are nearing completion of a mathematical proof to confirm that the latest Zcash shielded pool does not possess an undetectable counterfeit inflation vulnerability.

This verification work is being advanced by Project Tachyon, targeting Zcash's upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing the mathematical proof, aiming to demonstrate that the latest Zcash privacy pool is free from undetectable inflation bugs.

This development follows the disclosure of a severe counterfeit vulnerability in the Zcash Orchard shielded pool last month. That vulnerability sparked market concerns about potential undetectable hidden inflation risks in Zcash's privacy system, causing ZEC to drop over 40% within two days.

Developers claim that with the aid of AI-assisted formal verification, what previously might have taken years to complete can now be compressed into weeks. This news pushed ZEC back above $500, its highest level since early June.

Ondo Perps Public Testnet Reaches $100 Million in Trading Volume Within 24 Hours of Launch

Ondo Perps, built on Ondo Finance technology, reached $100 million in trading volume within 24 hours of its public testnet launch. Thousands of traders have participated since the testnet began. Ondo Perps is a platform that allows users to use their holdings of tokenized stocks and ETFs directly as margin for perpetual contracts. It offers non-US investors up to 20x leverage on popular assets like Tesla (TSLA), Nvidia (NVDA), Apple (AAPL), and commodities such as gold and silver.

Fundraising

KOR Protocol Completes $7.5 Million Series A Round, with Participation from 1kx and Others

KOR Protocol announced the completion of a $7.5 million Series A funding round, with participation from 1kx, Blockchain Capital, and others, at a valuation of $100 million. The funds will be used for platform development, ecosystem growth, and partner integration. The protocol also plans to launch a token.

KOR Protocol is an on-chain creative asset clearing platform based on Coinbase's Layer 2. It provides verification, routing, and settlement infrastructure for creative works like music and films. By registering assets on-chain, it helps creators connect with suitable brands, platforms, and distributors, and enables programmable revenue sharing payments via stablecoins like USDC.

Regulatory Developments

CFTC Charges North Carolina Man in $14 Million Crypto and Futures Fraud Scheme

The US CFTC filed a lawsuit against Trevor Vernon of North Carolina and his company, Argent Capital Management LLC, accusing them of defrauding approximately 60 investors out of $14 million through a fraudulent commodity pool.

According to the complaint filed by the CFTC on Tuesday in the US District Court for the Western District of North Carolina, Vernon and his company operated commodity pools involving the trading of multiple asset classes, including stock index futures options, stock index futures contracts, and crypto assets.

The CFTC alleges that Vernon falsely portrayed himself as a successful trader to investors through quarterly financial updates and monthly performance review emails, while in reality, he was consistently incurring significant losses while trading with investor funds.

Voices

Bloomberg ETF Analyst: Fed May Buy Stock ETFs in the Future, US Stock Market is 'Too Big to Fail'

Bloomberg ETF analyst Eric Balchunas posted, stating that he released a report today on which he had been working for months. The report discusses how the US stock market may have become too large and important, essentially serving as America's pension fund and potentially a bailout source for Social Security, which is expected to run out of funds in less than 10 years. Currently, 55% of Americans own stocks, the highest global rate. With Trump Accounts bringing an additional 28 million Americans into stock ownership, the vast majority—including the top 1% who hold half the US market, the middle class, and lower-income groups—will have a financial interest tied to the stock market's health, and they are all voters. Therefore, the political pressure to keep the market out of a prolonged bear market will be extremely strong.

Eric Balchunas believes the Fed is highly likely to buy stock ETFs to support the market during the next significant downturn, and that this will become a common practice in the future, as China and Japan have already done. The Fed might even buy into specific sectors or capital expenditure companies. He views this as a massive variable, but one that remains a blind spot for the expert community, and it's a key reason why bears are repeatedly overwhelmed. Investors are already aware of this, evidenced by continued ETF inflows during market corrections and a 1,000-person survey where three-quarters of respondents believe the Fed will rescue the market during the next crisis. He states that this is merely a byproduct of the ongoing monetary and debt expansion occurring globally, especially in the US, and currently appears irreversible.

Analysis: AI Investment Frenzy Cools Down, Market Reassesses Sustainability of Chip and Data Center Spending

The AI infrastructure investment frenzy is cooling down, with the market beginning to reassess the sustainability of chip and data center spending. As investors re-evaluate whether AI infrastructure investments can be sustained, there are signs of a pullback in the 'AI trade,' which encompasses semiconductors, memory chips, and the data center supply chain.

Recently, AI-related chip stocks like Micron Technology (MU) and SanDisk (SNDK) have come under pressure. This follows Samsung Electronics reporting record second-quarter results that missed revenue expectations. Its shares still fell nearly 7%, dragging down the broader AI chip sector.

Market concerns are growing that as cloud computing giants (Hyperscalers) may slow down AI infrastructure investments, the current AI boom cycle driven by GPUs, High Bandwidth Memory (HBM), and data center construction could face repricing. Meanwhile, South Korean memory chip giant SK hynix, ahead of its US IPO, has seen its stock drop about 25% from its all-time high. Its IPO is also attracting some funds away from existing chip stocks.