K33: Potential Tariff Measures Could Pose as a Resistance to Bitcoin Price Rally in July

On July 3rd, based on market data, the U.S. stock market closed on Wednesday with a slight decrease in the Dow. The S&P 500 Index increased by 0.47%, and the Nasdaq increased by 0.94%. Some crypto reserve companies performed well, including: Tesla (TSLA.O) rose by 4.97%; Mogo Inc (MOGO) saw its stock price increase by 112.4% after announcing the authorization to allocate $50 million to Bitcoin; Bit Digital (BTBT) rose by 13.85% after raising $150 million to purchase ETH and planning to exit BTC mining thereafter; Thumzup Media Corporation (TZUP) rose by 14.89% and will conduct a $6.5 million private placement to raise funds for increasing its cryptocurrency holdings; Bitmine Immersion (BMNR) rose by 27.17% after announcing the completion of a $250 million financing round, mainly for increasing its Ethereum holdings and intending to use it as a core reserve asset; Semler Scientific (SMLE) rose by 11.63%, holding 4,449 BTC as of June 4th; SharpLink Gaming (SBET) rose by 28.07%, wi

On July 3rd, as reported by Bloomberg, BlackRock, which is the world's largest asset manager, announced that its Bitcoin spot ETF, IBIT, has now become its most profitable ETF product, outperforming its flagship S&P 500 index fund. IBIT currently has an asset under management (AUM) of approximately $75 billion and a fee rate of 0.25%, with an expected annual revenue of $187.2 million. In contrast, the $624 billion iShares Core S&P 500 ETF (IVV) only charges a 0.03% fee, and its annual revenue is slightly lower than that of IBIT, at $187.1 million.

On July 3rd, the Securities Industry and Financial Markets Association (SIFMA) dispatched a letter to the SEC Crypto Assets Working Group, objecting to the applications of cryptocurrency companies such as Coinbase and Kraken for exemptive relief to issue tokenized stocks. SIFMA characterized the related requests as "being of great concern" and urged the SEC to seek public input through a transparent process in order to avoid hasty approvals through opaque means. SIFMA emphasized that such significant policies should not be dealt with directly through "no-action" or exemption mechanisms. The association also raised doubts about whether the SEC is capable of regulating unregistered entities and protecting investor interests.

On July 3rd, according to EmberCN's monitoring, the so-called "insider trader" @qwatio's short position has been liquidated and reduced successively for 8 times. The value of the short positions, which was originally 250 million, has mostly been liquidated, and currently there remains about 43.68 million US dollars. @qwatio opened a short position of 16.28 million US dollars this time with the initial margin, and currently there remains 1.2 million US dollars, resulting in a short position loss of 15.08 million US dollars. Overall, the trader is still profitable. Previously, the trader earned 26 million US dollars through 3 addresses. After returning 15.08 million US dollars in profit, there is still a profit of 10.92 million US dollars. Current short position status: Short 237 BTC with 40x leverage, valued at 25.82 million US dollars. The entry price is 106,697 US dollars, and the liquidation price is 111,040 US dollars. Short 6,948 ETH with 25x leverage, valued at 17.86 million US

On July 3rd, OpenAI officially issued a statement, denying Robinhood's authorization to launch related tokenized stocks. The so-called "OpenAI Token" is not company equity, and OpenAI has not established any partnership or endorsed any project with Robinhood. OpenAI emphasized that any transfer involving company equity must obtain official approval, and currently, the company has not approved any such transactions. It is urging the public to remain vigilant. Previously, Robinhood stated that Robinhood EU has launched the world's first batch of tokenized stocks for private companies, including OpenAI and SpaceX tokens. Robinhood EU is giving away the first batch of private company stock tokens for OpenAI and SpaceX for free. If you are a Robinhood EU user and eligible, you can claim the tokens within the app.

On July 3rd, as reported by TheBlock, it is said that the Trump family has made approximately $620 million from cryptocurrency projects in recent months, which accounts for nearly 10% of the Trump family's $6.4 billion net worth. The Trump family received around $390 million from the token sale of World Liberty, $150 million from the launch of Trump Meme Coin, and additional profits from other cryptocurrency projects. This seems to be the first public disclosure of multiple cryptocurrency projects involving the Trump family, ranging from meme coins to Bitcoin mining operations. The Trump family and its partners hold a 20% stake in the mining company American Bitcoin, which is anticipated to go public through a merger with Gryphon Digital Mining. Trump's earliest cryptocurrency projects included a series of NFT cards. In 2022, he launched his first NFT collectibles, offering 45,000 on-chain collectibles, with each token priced at $99. By the fourth series launched in 2024, Trump disclo