24H Hot Tokens & Headlines | Shenzhen Shuts Down Multiple Illegal Crypto-Media Accounts; BitMEX to Close in 30 Days (July 24)
- Key Takeaways: This article summarizes macro data, on-chain highlights, regulatory developments, industry and project updates in the cryptocurrency market, highlighting a broad market decline with a few altcoins bucking the trend, while BitMEX announced its closure, increased regulation in China and the US, and several projects and fundraising events took center stage.
- Key Elements:
- CEX Trading Data: The top ten hot tokens all declined, with BTC down 1.18% and KITE leading the drop at 11.71%; on OKX's top gainers list, RE rose 24.89%, and the stock token TSLQ.M gained 25.85%.
- BitMEX Closure: Crypto exchange BitMEX announced it will close on September 23, 2026, halting new user registrations immediately. Users can only reduce positions, and a monthly fee will be charged on unwithdrawn assets.
- Regulatory News: Shenzhen permanently shut down multiple illegal crypto-media accounts; the EU imposed sanctions on over 100 banks and crypto operators; Argentina is considering loosening regulations to allow mutual funds to invest in cryptocurrencies.
- Project Updates: Worldcoin governance is heavily concentrated, with 90% of circulating WLD held in 100 wallets. Moonshot AI responded to allegations that the K3 model distilled Fable. Bitcoin is set to undergo the eCash hard fork on August 21.
- Funding & Opinions: Stablecoin issuer Mandela Digital secured $5 million in funding. Bitwise CIO believes the market has bottomed, showing interest in HYPE and HOOD. Arthur Hayes bid farewell to BitMEX, reaffirming his crypto philosophy.
1. Popular Tokens on CEX
CEX Top 10 by Trading Volume & 24h Change:
- BTC: -1.18%
- ETH: -2.92%
- SOL: -2.91%
- XRP: -2.7%
- BNB: -0.53%
- DOGE: -4.88%
- KITE: -11.71%
- TRX: -0.03%
- ZEC: -1.66%
- QQQB: -1.91%
24h Top Gainers (Data source: OKX):
- RE: +24.89%
- VELO: +10.95%
- WLFI: +9.1%
- ZAMA: +7.36%
- FLUID: +6.87%
- POR: +6.52%
- DGB: +5.29%
- XYZ: +5.17%
- 1INCH: +4.55%
- GMX: +4.42%
24h Top Gainers (Crypto-Equity Tokens) (Data source: msx.com):
- TSLQ.M: +25.85%
- MSTZ.M: +12.16%
- LMT.M: +10.42%
- UMAC.M: +10.37%
- AMKR.M: +9.35%
- PONY.M: +7.32%
- RTX.M: +7.2%
- HUT.M: +7.16%
- ZSL.M: +6.95%
- USO.M: +6.71%
- VICR.M: +6.46%
- MRLN.M: +6.15%
2. Top 5 On-Chain Meme Tokens (Data source: GMGN):
- GME (Robinhood Chain)
- VLAD (Robinhood Chain)
- NVDA (Robinhood Chain)
- WANGWANG (BSC)
- DOYR (BSC)
Headlines
Stopping New User Registrations, BitMEX Will Officially Shut Down on September 23, 2026
According to an official announcement, crypto exchange BitMEX will officially shut down at 12:00 (Beijing time) on September 23, 2026, and will stop accepting new user registrations immediately. BitMEX stated that the board of directors of its parent company, HDR Global Trading Limited, decided to close the exchange following a strategic review.
The platform will operate normally until the closure date, but starting from 12:00 (Beijing time) on August 26, it will restrict new position openings, allowing users only to reduce positions. Remaining positions after the closure time will be forcibly liquidated. KYC users who fail to withdraw assets before the closure time will be charged an account management fee of $50 per month or 1% of the balance, whichever is higher. This fee is subject to increase.
The Shenzhen Branch of the People's Bank of China, the Shenzhen Securities Regulatory Bureau, the Municipal Internet Information Office, and the Municipal Local Financial Administration have continued in-depth special rectification efforts, urging local website platforms to strictly fulfill their primary responsibilities and legally dispose of a number of illegal WeMedia accounts in accordance with regulations and agreements. Some typical cases include accounts such as "USDT Merchant Exchange Group," "Come Together to Play with Virtual Currency," "Soso Bitcoin," "Wei Zhi Kuai Huan," "Zhong Lian Lao Jiu," "Yao Sui Ge Hao Jue," "Little Goldfish 9884," and "User 0767527971." These accounts illegally provided marketing and promotional information related to virtual currency business activities within China, inducing the public to participate in illegal virtual currency financial activities. Pursuant to the "Notice on Further Preventing and Dealing with Risks Related to Virtual Currencies" and other relevant policy provisions, these accounts have been permanently closed by the platform according to regulations and agreements.
US Initial Jobless Claims for Week Ending July 18th Hit 187,000, vs. 212,000 Expected
The number of initial jobless claims in the US for the week ending July 18th was 187,000, the lowest since the week ending September 24, 2022. This compares to an expectation of 212,000. The prior week's figure was revised down to 209,000 from 208,000.
Industry News
EU Imposes Sanctions on Over 100 Banks and Crypto Operators
EU High Representative for Foreign Affairs and Security Policy Kaja Kallas stated that sanctions have been imposed on over 100 banks and cryptocurrency operators, more than 40 shadow fleet vessels, and several oil refineries in Russia and Belarus.
Argentina Plans to Relax Capital Market Controls, Allow Mutual Funds to Invest in Cryptocurrencies
The Argentine government is advancing efforts to relax capital market controls. It plans to allow Mutual Investment Funds (FCI) to invest in Bitcoin and cryptocurrencies, and to permit virtual assets as collateral guarantees. This measure originates from a draft "Deregulation Bill" penned by Economy Minister Federico Sturzenegger. It is currently awaiting signature by President Javier Milei before being submitted to Congress. The draft explicitly allows FCIs to allocate assets to virtual assets and establishes "qualified investor" funds. Argentina's National Securities Commission (CNV) will limit its oversight of FCIs to legality and technical solvency reviews. The Central Bank will exclusively regulate the registration or transfer infrastructure involving cryptocurrencies and tokenized assets. The draft also explicitly permits stocks, convertible bonds, and other securities to be issued, stored, and traded via crypto networks.
Project Updates
An SEC filing submitted by Grayscale for a Worldcoin ETF disclosed that approximately 90% of the circulating WLD tokens are concentrated in 100 wallets. The filing also acknowledged that World Chain's sequencer is operated centrally, upgrade functions are controlled by a few participants including the World Foundation, Tools for Humanity, and Optimism, and governance remains largely guided by the World Foundation.
Moonshot AI Responds to K3 Distillation of Fable Allegations: Release Dates Only 15 Days Apart
Randy, a Moonshot AI employee, posted on X platform in response to comments by White House Office of Science and Technology Policy Director Michael Kratsios regarding Moonshot AI using Anthropic's Fable for distillation to develop the K3 model. Randy stated that Fable was publicly unveiled on July 1st, K3 was launched on July 15th, and the team trained a completely new frontier model in just 15 days, calling it a Guinness World Record level achievement.
Bitcoin to Undergo eCash Hard Fork on August 21st
In April this year, Bitcoin developer Paul Sztorc announced the activation of the Bitcoin eCash hard fork at block height 963,648 (around August 21st). A new chain called eCash will be launched. eCash will airdrop its native token ECX at a 1:1 ratio to all addresses holding Bitcoin before block height 963,648. No registration or pre-claim is required, but users must transfer their BTC to an eCash self-custody wallet. To date, support for this hard fork within the Bitcoin community is low.
CXMT: Company Stock to List on ChiNext (SSE STAR Market) on July 27, 2026
ChangXin Memory Technologies (CXMT): The company's stock will be listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange on July 27, 2026.
$15 Million Commitment Supported, Michael Saylor Announces Launch of Bitcoin Security Consortium
Michael Saylor announced on X platform that several Bitcoin ecosystem enterprises and financial institutions, including BlackRock, Coinbase, Block, and Strategy, have jointly announced the formation of the Bitcoin Security Consortium, aiming to support the long-term security and resilience of the Bitcoin network, with a focus on areas such as Post-Quantum Cryptography. The consortium is co-founded by institutions including Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy. Its members include Bitcoin holders, custodians, trading platforms, infrastructure service providers, and asset management companies.
Funding & Investment
K25.ai Completes Series A Funding, Amber Group Provides Strategic Support
K25.ai announced the completion of its Series A funding round, with strategic support from Amber Group, achieving a post-investment valuation of $200 million. This round of investment will be used to accelerate product development, global expansion, institutional liquidity infrastructure, and creator ecosystem building. The project's main business combines AI with live streaming content, allowing users to predict outcomes in sports, esports, entertainment, and other scenarios in real-time. It utilizes proprietary AI infrastructure for real-time market generation, content monitoring, and result adjudication.
Stablecoin Issuer Mandela Digital Raises $5 Million, Datavault AI Participates
Stablecoin issuer Mandela Digital announced it has raised $5 million in funding, with participation from Datavault AI. The new capital will be used for stablecoin infrastructure development, compliance, exchange integrations, liquidity, and marketing, as well as accelerating the launch of the 1:1 USD-pegged stablecoin, Mandela Dollar (MUSD). It is reported that MUSD aims to facilitate financial inclusion, cross-border remittances, and digital payments in the Global South. Datavault AI will also provide technical support for MUSD, including its AI platform, blockchain tokenization, SanQtum quantum-resistant cryptography, and a Real World Asset (RWA) framework.
AI Chip Startup Etched Closes $300 Million Series C, Valuation Reaches $10.3 Billion
AI chip startup Etched announced the completion of a $300 million Series C funding round, valuing the company at $10.3 billion. This round was led by Sequoia Capital, with participation from Andreessen Horowitz (a16z), SK hynix, Jane Street, and Diffusion Capital.
People & Voices
Bitwise CIO: Crypto Market Has Bottomed, New Bull Run Focus on HYPE and HOOD
Bitwise Chief Investment Officer Matt Hougan posted on X platform, stating that the crypto market has shown signs of bottoming. Since July 1st, Bitcoin has risen 9%, while the Nasdaq 100 index has fallen 6%. ETF flows have turned positive, and market sentiment is improving.
He also stated that the new bull run in the crypto market should focus on Hyperliquid (HYPE) and Robinhood (HOOD), as they are prime examples of combining traditional finance and cryptocurrency. Hyperliquid is a crypto financial application with real revenue and a strong tokenomics model, while Robinhood is an established company excellently building a business on crypto technology.
BitMEX co-founder Arthur Hayes posted a farewell message to the platform, thanking partners, all BitMEX employees, and all clients. "It's been a fantastic journey. We created something special together, and I am proud of what we have achieved."
Hayes stated that BitMEX will close the platform responsibly and in its own way. He also reiterated his long-held crypto philosophy, stating "Against traditional finance, against banks," and concluded with "Satoshi for life."
