Tether Issues 1 Billion USDT on Ethereum Network

July 4th. According to Sina Finance, it was reported that JD.com and Ant Group are proposing to the central bank to obtain approval for a RMB-backed stablecoin. In a closed-door discussion with the People's Bank of China, JD.com stated that there is an urgent need to utilize offshore RMB stablecoins as a tool to promote the internationalization of the RMB. Sources also mentioned that Ant Group is preparing to apply for stablecoin licenses in Hong Kong and Singapore and is making preparations for offshore RMB stablecoins.

On July 4th, the FTX creditor representative Sunil posted on social media, indicating that among the claims from the restricted countries of FTX, 82% of the claimed funds pertain to Chinese users. Nevertheless, cryptocurrency trading is currently not permitted in China, and there are no authorized distributors. According to the documents provided by Sunil, FTX will seek legal counsel. If it is feasible to distribute to potential restricted foreign jurisdictions, it will take action. If it is determined that the residents belong to a restricted foreign jurisdiction and there is a dispute regarding the claims, the distribution may be confiscated.

On July 4th, Coinbase announced that a system upgrade will be carried out on Saturday, August 2nd at 7:00 AM Pacific Time (11:00 PM Beijing Time). During this period, Simple and Advanced trading, deposits and withdrawals, as well as outbound transfers from Coinbase and the use of the Coinbase Card will not be available. Inbound transfers will be delayed, with an estimated downtime of approximately three hours.

On July 4th, based on Farside Investors' data, the REX-Osprey SOL Spot ETF witnessed a net inflow of $11.4 million the previous day. The trading volume was $34.904 million. Previously, it was reported that on the first day of its listing (July 2nd), the REX-Osprey SOL Spot ETF had a trading volume of $33.914 million.

On Thursday, July 4th, Minna Bank, Japan's first digital-only bank and a subsidiary of Fukuoka Financial Group, announced that it is currently exploring the utilization of stablecoins and digital wallets to provide support for the country's daily financial services and payment activities. This undertaking is an integral part of a joint research project carried out in collaboration with Fireblocks, Solana Japan, and the Japanese tech firm TIS. The research aims to evaluate the practical application of stablecoins and decentralized wallets in actual banking operations. The study will explore various use cases such as cross-border payments, real-world asset transactions, and daily digital payments. In addition, it will examine the technical viability of issuing stablecoins on the Solana blockchain and assess how Web3 wallets can offer users a more intuitive financial experience.

On July 4th, based on LookOnChain's monitoring, a suspected Matrixport address withdrew an additional 10,000 ETH (approximately $25.97 million) from Binance 20 minutes ago. Over the past two days, this wallet has already withdrawn a total of 50,734 ETH (approximately $130 million) from Binance and OKEx.