Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

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 Over the 12 days since the tokens were withdrawn from the treasury, BONK’s price has fallen from $0.0000047 to $0.0000027, a cumulative drop of roughly 41%.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.”

According to monitoring by Onchain Lens, over eight years ago, when Bitcoin’s price stood at roughly $18,300, a crypto whale acquired 852.469 BTC for approximately $15.63 million. Since then, the whale has gradually spread these BTC across multiple newly created wallets, while transferring a portion of the tokens to trading platforms. Currently, the whale has moved another 583.23 BTC (valued at around $37.57 million) to a newly established wallet.

According to NewsNation, US President Donald Trump has once again emphasized that Iran "cannot and should not possess nuclear weapons". After Iran announced it would suspend its commitments under the interim agreement, Trump stated he "does not care at all". Source: Jinshi Data

According to a July 17 trading disclosure from Cathie Wood’s ARK Invest—known in Chinese financial circles as "Wood Sister"—after SpaceX (SPCX.O) shares fell below their IPO price on Friday, ARK Invest purchased $18.3 million worth of the stock. The firm’s four actively managed ETFs together bought 147,623 shares. The stock closed at $123.99 that day, hitting an intraday low of $122.12. This purchase appears to be a deliberate accumulation amid the stock’s weakness rather than a hedging move, as the transaction further expands ARK’s already large existing position. Data tracking ARK’s holdings shows that in the week ended July 10, the firm’s ARKK, ARKQ, ARKW, and ARKX funds together bought approximately $52.1 million worth of SpaceX stock, bringing ARK’s total investment in SpaceX since the company’s June IPO to over $475 million. This indicates that Cathie Wood’s team has consistently viewed every price dip as a buying opportunity, not a warning sign. (Jin10)