executive

According to Bloomberg, U.S. President Trump is expected to attend a White House meeting next Wednesday, which will bring together senior executives from cryptocurrency companies and prediction market platforms. Commodity Futures Trading Commission (CFTC) Chairman Michael Selig and Securities and Exchange Commission (SEC) Chairman Paul Atkins have also confirmed their attendance at this meeting.

ChianCatcher news, Circle's Senior Director of Strategy and Policy for the EU, Patrick Hansen, pointed out in a tweet that among the approximately 23 authorized electronic money token (EMT) issuers in the EU, only 9 have been granted permission to provide crypto asset services (CASP). This means that only these 9 can offer custody and transfer services for the stablecoins they issue, while the remaining 14 can only mint or burn tokens directly to customer wallets and cannot hold or send stablecoins on behalf of customers. This greatly limits the range of services that issuers can provide.Hansen stated that Circle has obtained the necessary CASP approval through the MiCA Article 60 notification procedure to provide custody or payment services related to USDC and EURC for institutional clients. He expressed surprise that more EMT issuers have not taken this step. The 9 that can currently offer some crypto asset services include Circle, Société Générale - Forge, CACEIS Bank, Banking Circle, Bridge, Fiat Republic, Newrails, Blue EMI, and Stable Mint.

Rosherville Pty Ltd, a shareholder of the Australian Securities Exchange (ASX), has notified the ASX of its intention to apply to the Federal Court for permission to initiate a statutory derivative action against certain former ASX officials and directors. If approved, Rosherville will sue on behalf of the ASX. The ASX stated that the relevant lawsuit does not accuse the ASX itself, but has not disclosed the identities of the former officials involved, the specific obligations allegedly violated, or the remedies sought. The Federal Court has not yet considered whether the case can proceed.The ASX has been advancing a blockchain-based CHESS clearing and settlement system replacement project since 2016, which was suspended in November 2022 and abandoned the blockchain solution in May 2023. On July 3, 2026, the Federal Court ordered the ASX to pay a fine of $14.4 million and $2.1 million in litigation costs to the Australian Securities and Investments Commission (ASIC).

According to Decrypt, Robinhood's head of cryptocurrency business, Johann Kerbrat, stated in an interview that Robinhood Chain has performed strongly in its first month. He pointed out that the chain is positioned to balance traditional financial products (tokenized stocks, derivatives) with meme coins—this is exactly what CEO Vlad Tenev expressed in his "two wolves" post. One month after its launch, Robinhood Chain's total value locked (TVL) has approached $800 million, processing over 200 million transactions.Kerbrat stated that the choice of Ethereum Layer-2 was to concentrate resources on product development while relying on existing security and decentralization. Robinhood's ultimate goal is to reach users who have never used cryptocurrency, rather than competing for existing users with other chains. "If we can see tens of millions of customers trying to use this chain, that would be a huge success for us."

On August 7, local time, U.S. President Trump will convene executives from several major mining companies at the U.S. Department of State to take action to secure the supply of critical minerals for the U.S. and its allies.Expected industry giants in attendance include Rio Tinto Group, BHP Billiton, and Freeport-McMoRan Copper & Gold Inc. The Trump administration plans to announce multiple transactions and memoranda of understanding.

Circle's Senior Director of Strategy and Policy, Patrick Hansen, stated that after the comprehensive implementation of the EU's Markets in Crypto-Assets Regulation (MiCA), licenses have been issued for 35 electronic currency tokens from 21 issuers, and local issuers are making good progress. Patrick Hansen pointed out that the strict regulations of MiCA have made it impossible for most major stablecoin issuers, including Tether, to meet operational requirements. Currently, only USDG, USDC, and EURC comply with the framework requirements, while other stablecoins fall outside the regulatory scope of MiCA, leaving EU users unprotected or unable to access services.He believes that the upcoming review of MiCA should address this issue and provide a more pragmatic operational pathway for foreign issuers. The EU's Directorate-General for Financial Stability, Financial Services, and Capital Markets Union launched a public consultation on May 20 to assess whether the current framework is still applicable, with the consultation continuing until September 30.

U.S. President Trump officially signed the executive order on polysilicon tariffs.

The Securities and Exchange Commission (SEC) of Thailand has filed a criminal complaint against the cryptocurrency exchange Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, accusing them of submitting false financial reports between May and October 2021. The case has been handed over to the Economic Crime Suppression Division (ECD) of Thailand for investigation, and the prosecution will decide whether to formally charge them.The SEC stated that Bitkub suffered a cyber attack in May 2021, resulting in the theft of 16 types of digital assets, with losses exceeding $50 million. Regulatory investigations revealed that Bitkub did not reflect the relevant losses in its daily net capital report Form DA 1 from May 10 to October 30, 2021. The SEC alleged that the relevant executives made false statements in the company's official documents, leading regulators to believe that customer assets were intact and that the company had not suffered financial losses. Bitkub subsequently completed the acquisition of alternative assets in late October 2021, but the SEC believes that the reports during this period constituted false statements.In a statement on July 23, Bitkub asserted that existing customer holdings are secure and accounts are complete. Bitkub stated that its co-founders purchased alternative assets in the same quantity and currency to cover the losses and claimed that the cyber theft incident was reported to law enforcement on May 10, 2021.

Coinbase is undergoing the largest executive reshuffle in recent years. Chief Talent Officer Lawrence Brock has stepped down and transitioned to an advisory role, while co-head of the institutional division Greg Tusar has moved to a policy position; previously, General Counsel Paul Grewal planned to leave, and Jesse Pollak has stepped down as head of the Base app. After laying off 14% of its workforce in May, Coinbase is accelerating its transformation into a comprehensive trading platform that includes stocks and prediction markets.

Nigerian President Bola Ahmed Tinubu has signed an executive order to coordinate the regulation of virtual assets, strengthen cooperation among the country's financial, tax, and capital market institutions, and address the fragmentation of digital asset regulation. The executive order establishes a virtual asset committee composed of heads of Nigeria's main financial regulatory agencies, responsible for guiding relevant policies. The Nigerian tax authorities will update digital asset policies and provide more details on their impact on taxpayers.The President's Special Adviser Bayo Onanuga stated that the executive order does not establish new regulatory bodies nor transfer power between institutions; each agency retains its statutory responsibilities and independence, and registration requirements will be determined based on the nature of the activities and the assets involved. A report from the International Monetary Fund (IMF) in June indicated that since 2019, Nigeria has accounted for about 60% of the stablecoin inflows to sub-Saharan Africa; from July 2023 to June 2024, the country's cryptocurrency inflows are estimated to be around $59 billion.

According to The Block, Trezor's Chief Business Officer Danny Sanders refuted recent criticisms of cryptocurrency hardware wallets made by blockchain investigator ZachXBT.Earlier this week, ZachXBT posted on Telegram, "All hardware wallets are complete garbage and I do not recommend using them for important tasks such as signing transactions or storing funds," and suggested that users use a dedicated iPhone to store funds and sign transactions.In response, Sanders acknowledged in an interview that firmware/software updates for hardware wallets can sometimes interfere with urgent or large transactions, and that the user experience can indeed be "clunky," understanding the users' frustration. However, he opposed ZachXBT's blanket statement: while hardware wallets may not be the best single solution for advanced users managing large amounts of funds, they are not garbage.He pointed out that compared to hardware wallets, the operating system and connectivity features of an iPhone present more "attack risks." For the average cryptocurrency user, hardware wallets remain the best self-custody option available.

Nigerian President Bola Tinubu has signed an executive order on virtual assets aimed at regulating virtual assets and combating unregistered operators. The measure has taken effect immediately and will establish a new supervisory framework to coordinate the fragmented regulatory environment.The newly established Virtual Assets Committee will serve as the main policy-making and coordinating body, chaired by the Central Bank of Nigeria (CBN), with the Federal Inland Revenue Service and the Nigerian Securities and Exchange Commission (NSEC) as vice-chairs. An Office of Virtual Assets will be set up within the CBN to handle daily inter-agency operations and information sharing. Securities-related financial activities will be managed by the NSEC, while payment, settlement, and custody services for non-securities virtual assets will be managed by the CBN.The CBN plans to launch a regulatory sandbox that allows qualified operators to test virtual asset products and blockchain solutions in a monitored environment. The Virtual Assets Committee is required to develop an implementation framework for the executive order within 30 days.

According to KPMG's latest survey report involving 2,145 executives from 20 countries, as technology companies like Anthropic, OpenAI, and GitHub recently shifted some of their AI services from fixed subscription models to usage-based billing, businesses are facing challenges in cost forecasting and management during the scaling of AI deployment.The report indicates that 29% of corporate executives find it difficult to understand and control operational costs when scaling AI deployment, and one-third of executives believe that insufficient understanding of AI economics hinders the deployment of AI entities. Due to costs exceeding expected value, nearly half (about 49%) of corporate organizations have chosen to delay or readjust their AI deployment plans; meanwhile, low-cost, high-fidelity large models are accelerating their impact on corporate AI strategies.In addition, tech giants are increasing capital expenditures to build AI capacity. Amazon plans to spend about $200 billion on capital expenditures this year and is investing $1 billion in its AWS frontline engineering organization to assist customers in adopting AI entities; Microsoft's total capital expenditure is expected to reach $190 billion this year, with $2.5 billion allocated to the new entity Microsoft Frontier Company. KPMG emphasizes that, in addition to cost pressures, accountability in AI governance, employee engagement rules, and the prevention of system "hallucinations" remain core challenges faced by businesses today.

Strive's Vice President of Bitcoin Strategy Joe Burnett stated that there are currently three types of investment views on Bitcoin in the market: first, the bulls, who believe that Bitcoin's long-term annualized return rate is higher than the cost of financing, and therefore are willing to borrow long-term capital to increase their Bitcoin holdings; second, the neutral investors, who view Bitcoin as a "Digital Credit" asset, only needing to believe that Bitcoin will not disappear and can generally follow the growth of USD inflation over the long term to meet their return needs.For example, according to Michael Saylor, if Bitcoin grows at an average annual rate of 3.3%, it can sustainably rely on capital gains to pay current dividends; third, the bears, who can express their views by shorting Bitcoin or leveraging Bitcoin products. Burnett believes that as bulls, neutrals, and bears all have corresponding Bitcoin investment tools, more capital is expected to enter the Bitcoin market.

Strive's Vice President of Bitcoin Strategy Joe Burnett stated that the annualized rate of return (ARR) for Bitcoin's breakeven point is often misunderstood, and understanding this concept is crucial for grasping the market. He categorized global capital allocation to Bitcoin into three paths: Bullish Bitcoin - believing that Bitcoin will appreciate significantly, borrowing long-term funds at a cost of less than 20% to increase positions; Neutral Bitcoin (digital credit) - Bitcoin only needs to grow by 3.3% annually to permanently cover dividends through capital appreciation, such buyers only need to believe that Bitcoin will not disappear and will outpace inflation, which may have become a global consensus; Bearish Bitcoin - expressing a bearish view through shorting Bitcoin or amplifying Bitcoin.Burnett pointed out that these three paths correspond to three types of Bitcoin-linked instruments, allowing major global capital allocators to find allocation methods that match their worldview, which is precisely the path through which over a trillion dollars of capital is gradually flowing into the Bitcoin market.

VanEck's Head of Digital Assets Research, Matthew Sigel, posted on the X platform that according to the latest 8-K filing submitted by Strategy, the $135 million Bitcoin sale by Strategy last week did not utilize the $1.25 billion BTC Monetization Program limit.This is because the program only restricts sales used to supplement cash reserves, and sales directly used to pay dividends are not included in this limit. Sigel pointed out that this means Strategy's actual Bitcoin selling capacity exceeds the commonly understood $1.25 billion.

Strategy Investor Relations Director Chaitanya Jain stated that STRC is gradually recovering after a brief fluctuation.He mentioned that the company's goal is to maintain STRC's long-term trading price in the range of $99 to $100, and it will support this through variable dividend rates, continuous increases in dollar reserves, improving Bitcoin ratings, removing convertible bonds, implementing stock buybacks, and functional upgrades.

Jurrien Timmer, Global Macro Director at Fidelity Investments, stated that Bitcoin is approaching the long-term Power Law model support level, or facing a critical technical test. Currently, the support line of this model is at $58,237, while $60,000 is seen as an important psychological and technical threshold. In addition, Jurrien also pointed out that due to the slowdown in global liquidity growth and speculative funds continuing to flow into technology stocks and other risk assets, Bitcoin currently lacks the macro catalysts necessary to drive a trend reversal. Although this model support level has historically become a market bottom multiple times, Bitcoin may still oscillate in this area for a while, waiting for a more favorable macro environment to drive a new round of increases.