Hong Kong plans to establish a crypto asset regulatory alliance, and the EU says it should formulate countermeasures

Headlines

▌Wu Jiezhuang: Written suggestions have been submitted to Li Jiachao, and it is planned to take the lead in establishing the Belt and Road Crypto Asset Regulatory Alliance

Hong Kong Legislative Council member Wu Jiezhuang posted on the X platform that he has submitted written suggestions to the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, on the 2025 Policy Address, covering 27 suggestions in 6 major categories, including: 1. Suggestions to further promote Hong Kong to become a Web3 hub: from policy support, talent cultivation and industrial ecology, including improving the regulations and tax incentives for crypto assets and tokenized assets. 2. Take the lead in establishing the Belt and Road Crypto Asset Regulatory Alliance: unite the countries and regions along the Belt and Road to jointly promote the development of Web3 policy supervision, hold a crypto asset regulatory summit in Hong Kong every year, and design Web3 regulatory standards that comply with international rules. 3. Establish an asset tokenization RWA Development Academy: The functions of the academy include studying relevant compliance laws and promoting opportunities for Hong Kong asset tokenization to the outside world, so as to attract more companies to develop in Hong Kong.

▌European officials: EU should formulate countermeasures as soon as possible on Monday

Bernd Lange, chairman of the European Parliament's Trade Committee, said the EU should formulate countermeasures as soon as possible on Monday. He said: Trump's tariffs on the EU are a slap in the face of negotiations. This is not the way to deal with an important trading partner.

Market

As of press time, according to CoinGecko data:

BTC price is $118,734, up 1.2% in 24 hours;

ETH price is $2,965.33, up 0.9% in 24 hours;

BNB price is $691.69, up 0.9% in 24 hours;

BTC price is $118,734, up 1.2% in 24 hours;

ETH price is $2,965.33, up 0.9% in 24 hours;

BNB price is $691.69, up 0.9% in 24 hours;

SOL price is 160.77 US dollars, 24 hours up and down +0.3%;

DOGE price is 0.1979 US dollars, 24 hours up and down +0.6%;

XRP price is 2.83 US dollars, 24 hours up and down +3.7%.

TRX price is 0.3031 US dollars, 24 hours up and down +0.2%.

Policy

▌White House adviser: Trump's latest tariff threat will be implemented unless the agreement is improved

White House economic adviser Hassett said on Sunday that US President Trump has received some trade agreement proposals and believes that they need to be further improved. If they are not improved, Trump will continue to impose threatened tariffs on Mexico, the European Union and other countries. Hassett said: "If the president does not reach an agreement he thinks is good enough, these tariffs will be implemented. But the dialogue is ongoing, and we will know how it ends." Hassett said that Trump's threat to impose a 50% tariff on goods from Brazil reflects Trump's disappointment with Brazil's actions and trade negotiations.

▌BoE Governor Warns Banks Not to Issue Stablecoins, Should Focus on Deposit Tokenization

BoE Governor Andrew Bailey recently warned banks not to issue stablecoins, saying the BoE should focus on deposit tokenization. At the same time, stablecoins pose systemic risks to banking institutions and could undermine the stability of the entire financial system and cause sovereign governments to lose control of their currencies. He also added that the BoE should not adopt a central bank digital currency (CBDC) or otherwise seek to launch a centrally managed digital legal token.

▌US Vice President JD Vance Slams Fed, Says It's Completely Asleep

US Vice President JD Vance said the Fed was completely asleep. As President Trump said, they are too late, both to fight inflation during the Biden administration and to lower interest rates now.

▌EU President: The suspension of countermeasures against US tariffs will be extended to early August

EU Commission President Ursula von der Leyen said that we will extend the suspension of countermeasures against US tariffs to early August. We have always made it clear that we prefer to reach a solution through consultation with the United States, and this position remains unchanged. Countermeasures are designed for extraordinary situations, and we have not yet reached the stage of using them.

Blockchain Applications

▌CZ retweeted a tweet revealing that Coinbase was suspected of being the mastermind behind the scenes and helped Bloomberg publish false content

Binance Co-founder CZ retweeted Ian Miles Cheong (@stillgray) on the X platform and said: "Bloomberg is disgusting. I bet that competitors like Coinbase are the mastermind. Coinbase has higher fees and a worse platform. They want to bring down Binance, and they are using Trump's cover. Such news reports are too much."

▌Security Warning: Beware of the threat of private key theft by script tools from unknown sources

According to SlowMist Chief Information Security Officer 23pds, who retweeted the X platform user @Miles082510's exposed post, developer @web3_cryptoguy disguised as Web3 "tool author", the script tool provided is suspected of scanning local sensitive files in the background, intending to steal key data such as private keys, wallet files, configuration files, codes, mnemonics, etc. These data will be secretly uploaded to anonymous servers, and the whole process is almost unnoticeable to users. Remind users to avoid using script tools of unknown origin.

▌Vitalik: AI is fully capable of regularly taking away crazy crowns from cryptocurrencies for weeks

Ethereum co-founder Vitalik Buterin posted on the X platform that he regularly reminds people that AI is fully capable of regularly taking away crazy crowns from cryptocurrencies for weeks.

▌Cathie Wood: The Ethereum Foundation has taken the right steps in scalability and privacy

Cathie Wood said that the Ethereum Foundation has taken the right steps in scalability and privacy to maintain its leading position in the institutional field.

▌Yuxin Technology: Actively exploring the introduction of stablecoin layout into daily retail life scenarios

Yuxin Technology said that in the field of payment, especially in retail payment scenarios, the company believes that stablecoins, as new asset products, must be deeply integrated into daily economic life in order to develop sustainably. The continuous expansion of its scope of use and circulation channels will directly enhance the ecological value and liquidity of the product. Essentially as a product with monetary attributes, the richer the ecosystem of stablecoins, the stronger its market vitality. Based on this understanding, the company has carried out relevant research since last year and is actively exploring the introduction of stablecoin layout into daily retail life scenarios.

Cryptocurrency

▌BTC breaks through $119,000, setting a new all-time high

BTC broke through $119,000 and rose to $119,021.46 in a short period of time, with a 24-hour increase of 1.2%

▌El Salvador has increased its holdings of 8 BTC in the past 7 days, with a total holding of 6,236.18

El Salvador has increased its holdings of 8 bitcoins in the past 7 days. Its current bitcoin holdings are 6,236.18, with a total value of US$734 million.

▌Strategy's Bitcoin holdings have a floating profit of more than 28.7 billion US dollars

On July 13, Strategy currently holds 597,325 bitcoins, with a total purchase cost of approximately 42.4 billion US dollars, and an average price of approximately 70,982 US dollars per bitcoin. According to market data, BTC is currently trading at 119,081 US dollars. Based on this calculation, Strategy's Bitcoin holdings currently have a floating profit of approximately 28.731 billion US dollars.

▌Author of "Rich Dad Poor Dad": I plan to buy another Bitcoin as soon as possible. Getting rich has never been so easy

"Rich Dad Poor Dad" author Robert Kiyosaki posted, "Bitcoin price exceeds $117,000. I plan to buy another Bitcoin as soon as possible. Getting rich has never been so easy...even becoming a millionaire. Please study hard and see if Bitcoin is your way to become a millionaire. Take care. I love my Bitcoin...I love all Bitcoins."

▌The amount of ETH purchased by ETH ETF in the past 30 days is nearly 10 times the net issuance of the network

Independent Ethereum educator and angel investor sassal.eth said on social media: "Net new additions to ETH in the past 30 days: about 73,000 ETH; Net inflow of ETH ETF in the past 30 days: about 725,000 ETH; The ETH ETF alone has purchased nearly 10 times more ETH than the network's net issuance in the past 30 days."

▌Davis Commodities evaluates the establishment of Solana Strategic Reserve and plans to allocate 5-10% of treasury funds to SOL

Nasdaq-listed Singaporean company Davis Commodities announced that it is evaluating the establishment of Solana Strategic Reserve as part of its digital innovation and fund diversification roadmap. It is reported that the company plans to allocate 5-10% of treasury funds to SOL after internal risk assessment and compliance review, and explore the use of SOL as a practical asset for pilot projects involving tokenized ESG certified agricultural trade and carbon credit-linked settlement. Davis Commodities launched its digital asset treasury strategy in June this year and announced a $30 million strategic growth plan, 40% of which will be invested in Bitcoin reserves to include it as a strategic financial asset in the balance sheet.

Important Economic Dynamics

▌Macron: Strongly Opposes the US Imposing a 30% Tariff on the EU

French President Macron posted on social media on the 12th that France and the European Commission strongly opposed the US announcement that day to impose a 30% tariff on EU exports from August 1. Macron wrote that in the context of EU unity, the European Commission should demonstrate the EU's determination to defend its own interests. If Europe and the United States cannot reach an agreement before August 1, the EU should mobilize all tools, including anti-coercion mechanisms, to speed up the preparation of "credible countermeasures." France supports the European Commission and the United States to step up negotiations in order to reach an agreement acceptable to both sides before August 1.

▌Analysis: Tariff impact may be apparent, and U.S. inflation data for June is expected to accelerate

Some analysts said that after several months of low inflation, U.S. consumers may have experienced slightly faster price increases in June as companies began to pass on tariff-related increases in the cost of imported goods to consumers. The agency's survey of economists showed that prices of goods and services, excluding volatile food and energy costs, were expected to rise 0.3% in June, the largest increase in five months. The core CPI rose only 0.1% in May. Although next Tuesday's report may only show that the cost of U.S. import tariffs has been slightly passed on to consumers, many economists expect inflation to gradually pick up over time. At the same time, many businesses are hesitant to raise prices, and U.S. consumers are more focused on consumption moderation after the job market cools, forming a delicate balance.

Golden Encyclopedia

▌How does the trade war affect the stock and crypto markets?

Tariffs raise the cost of imported goods, squeezing profit margins for companies that rely on international supply chains. When automakers or electronics brands have to pay higher costs for parts, those costs can either eat into profits or be passed on to consumers. In either case, that's bad news for earnings, which is what determines stock valuations. There's also the fear factor. The trade war injects huge uncertainty into the economy. Will more tariffs be imposed next? Will other countries retaliate? This unpredictability can cause companies to postpone investments and hiring, while consumers may start spending less. This manifests as increased market volatility. Tariffs also hit cryptocurrencies, but the market recovered a few days later, reflecting the volatile and responsive nature of cryptocurrencies during times of global uncertainty. When uncertainty heightens—such as a sudden escalation in global trade tensions—investors tend to play it safe. This means investors will withdraw from more volatile assets, including cryptocurrencies, and hold assets that are seen as safer, such as cash or bonds. This is a classic "risk-off" strategy. But cryptocurrencies will not remain depressed for long. For many investors, despite their volatility, cryptocurrencies are increasingly seen as a valuable hedge tool that is not affected by any government or policy decisions.