Hang Seng Electronics: Subsidiary Hangyun Technology Named one of the First Virtual Asset Trading System Suppliers in Hong Kong

On July 8th, as per Decrypt, a UK court has handed down prison sentences to two criminals. They were convicted of luring 65 victims into investing in a fake cryptocurrency advisory company via phone calls. These two individuals were found guilty of selling fake cryptocurrency investments and defrauded at least 65 investors of approximately $2 million in total. As a result, they were sentenced to a combined total of 12 years in prison.

On July 8, U.S. President Trump announced on social media that tariffs will be imposed starting from August 1, 2025. The stipulated deadline will remain unchanged and no extension will be provided. (Golden Ten)

On July 8th, as per Bloomberg, Vlad Tenev, the CEO of Robinhood Markets Inc., stated that the company is in communication with regulators regarding its tokenized stock product launched in Europe. This product has previously drawn criticism from multiple companies, including OpenAI. The California-based company announced last week that retail investors in the European Union can now trade blockchain tokens representing U.S. stocks through its app. This launch also encompassed tokens for privately held companies like OpenAI. However, Sam Altman-led OpenAI later reminded traders that these "tokens" do not represent equity in the company. The brokerage is facing inquiries from regulators, such as the Bank of Lithuania, regarding the structure of these tokens and whether they blur the line between actual equity and derivatives. The Bank of Lithuania has confirmed having reached out to Robinhood for more details.

On July 8th, as reported by The Block, OpenSea has acquired Rally. Rally is the developer of the Rally wallet and the mobile-first Web3 application experience. This acquisition is intended to enhance OpenSea's expansion into the token trading domain. Currently, the platform supports 19 blockchains.

On July 8th, according to The Block, Vertex Protocol, a decentralized exchange platform based on Arbitrum (which focuses on perpetual contracts and money markets), will gradually cease its existing EVM deployment and exclusively reconstruct its DEX on the L2 network, Ink, which was hatched on Kraken. The Ink Foundation will acquire Vertex's engineering team and its trading technology architecture, including a synchronous order book, perpetual contract engine, and money market code. The Foundation's board indicated that this move will expedite its goal of building an "open on-chain capital market." As part of this migration, Vertex developers will also gradually phase out its native token, VRTX. An official snapshot is scheduled for July 8th (Tuesday) to determine which VRTX holders are eligible for the Ink airdrop - they will receive 1% of the initial supply of Ink and will have priority in participating in subsequent incentive programs. Meanwhile, unreleased VRTX tokens and tokens i

On July 8th, as per Cointelegraph, Linqto is a private investment platform that enables investors to purchase shares of pre-IPO companies. The company has submitted an application for Chapter 11 bankruptcy protection within the Southern District of Texas. According to the disclosures, Linqto holds 4.7 million shares of Ripple that were acquired through the private market. This bankruptcy filing occurred shortly after Ripple CEO Brad Garlinghouse's statement last week. In that statement, he clarified that although Linqto holds 4.7 million shares of Ripple's secondary market stock, there is no business relationship between Linqto and Ripple.