U.S. CFTC Acting Chairman: Enforcement Division Restructured, Refocused on Combating Fraud

According to South Korean media outlet Etoday, from July 1 to 16, foreign investors net sold 12.1022 trillion won in South Korea’s KOSPI market and 338.1 billion won in the KOSDAQ market. Over the same period, the KOSPI index fell from 8476.48 points on June 30 to 6820.60 points. In contrast to the stock markets, foreign investors net bought 593.7 billion won worth of South Korean ETFs during the same period. Among these, KODEX leveraged ETFs saw net purchases of 195 billion won, KODEX 200 net purchases of 180.6 billion won, and KODEX 200 Inverse 2x Futures ETF net purchases of 130 billion won. Foreign investors’ simultaneous buying of products tracking the KOSPI 200 and inverse index ETFs is interpreted as portfolio adjustments amid high market volatility, rather than one-way bets. For single-stock leveraged ETFs, foreign investors net bought 22.7 billion won worth of Samsung Electronics-related products, but net sold 122.1 billion won worth of SK Hynix-related products. Additionally, foreign investors net bought 102 billion won worth of the Philadelphia Semiconductor Index ETF and 62.7 billion won worth of the US Nasdaq 100 Daily Target Covered Strategy ETF.

Elon Musk responded to the claim that SpaceX's stock price has dropped 30% from its peak following its IPO, with short sellers pocketing roughly $8.7 billion, in a post on X, saying: "Companies holding large short positions in SpaceX over the long term have a very low chance of survival."

According to data from Alternative, today’s Crypto Fear & Greed Index stands at 28 (up from 25 yesterday), as the market has moved out of the "Extreme Fear" zone and entered the "Fear" range. Note: The index ranges from 0 to 100, and its components include volatility (25%), trading volume (25%), social media sentiment (15%), market surveys (15%), Bitcoin’s market dominance (10%), and Google Trends analysis (10%).

U.S. regulators have failed to meet the one-year deadline set by the GENIUS Act to release implementing rules for stablecoins. As of July 18, key regulators including the Treasury Department, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration (NCUA) have not finalized the rules, with multiple core frameworks still in the proposal or public comment phase. Notably, the public comment period for stablecoin issuer customer identification rules runs until August 21, while the FDIC’s proposal on Bank Secrecy Act and sanctions compliance is open for feedback through August 4. Rules on reserve assets, capital, liquidity, custody, redemptions, risk management, and state regulatory recognition also remain not yet finalized. The GENIUS Act was signed into law on July 18, 2025, mandating regulators to finalize supporting rules within one year. The law already establishes reserve, redemption, disclosure, licensing, and regulatory requirements for payment stablecoin issuers, including maintaining a 1:1 liquid asset reserve, publishing redemption policies, and monthly reserve disclosures, and prohibits direct interest or yield payments to holders. The regulatory delay does not automatically delay the law’s effective date. The GENIUS Act will still take effect no later than January 18, 2027, meaning the preparation time for regulators and potential stablecoin issuers will be further shortened.

According to on-chain analyst Yu Jin Monitoring, the attacker of the BONK treasury transferred 400 billion BONK tokens to Coinbase again 5 hours ago, worth approximately $1.11 million. The address previously obtained 4.426 trillion BONK tokens from the BONK treasury via a governance proposal, valued at around $21.2 million, of which 2.426 trillion BONK have been moved to centralized exchanges (CEXs), worth about $7.88 million. Over the 12 days since the tokens were withdrawn from the treasury, BONK’s price has fallen from $0.0000047 to $0.0000027, a cumulative drop of roughly 41%.

Strategy founder Michael Saylor has published a post opposing BIP-110, arguing that the proposal attempts to restrict the use of currently valid, fee-paying transactions via consensus rules, which may escalate disputes over use cases like data storage to the protocol layer. BIP-110 aims to add seven consensus restrictions over an approximately one-year validity period, including limiting the length of new script public keys, the size of certain pushed data and witness items, and disabling some Taproot extension paths. Saylor has listed 110 reasons for opposing BIP-110. He objects to the proposal’s 55% miner signaling threshold, calling it significantly lower than BIP-9’s 95% standard, and notes that eliminating regular timeouts and FAILED states could increase coordination errors, chain splits, and market uncertainty. Saylor contends that issues related to block space fees, node forwarding policies, miner strategies, pruning, and Layer 2 tools can be resolved without modifying consensus rules. He emphasized that even if the rules only take effect temporarily, the governance precedent set could persist long-term, leading him to state that “the proposed governance framework is more dangerous than the problem itself.”