WTI and Brent crude oil continue to slump, with both down over 2% intraday.

According to South Korean media reports, the South Korean government will hold its first government-led special forum on stablecoin legislation today, chaired by Deputy Prime Minister for Economy Koo Yoon-cheol. The forum will focus on discussions of the enactment of the "Digital Asset Basic Law" and the establishment of a stablecoin regulatory framework. Against the backdrop of the U.S. GENIUS Act set to take effect in January 2027, the South Korean government and ruling party are pushing to finalize the "Digital Asset Basic Law" this year to establish a legal framework for stablecoin issuance, circulation, and supervision. Participants include the Financial Services Commission, the ruling party, and industry stakeholders, with topics covering AI Agent payments, the won-denominated stablecoin, anti-money laundering (AML) regulation, and more. The ruling party previously stated it plans to submit a unified bill in September and aims to complete the legislation within this year.

According to Bitget market data, South Korea’s KOSPI index rose 4% intraday, currently trading at 6777.32 points. SK Hynix is up 4.7%, and Samsung Electronics gained 6.4%.

According to Hyperinsight monitoring, SPCX on Hyperliquid continues its downward trajectory, currently trading at $120.66, down 47.5% from its prior high of $230. SpaceX priced its IPO at $135 per share, and SPCX has now dropped roughly 10.6% below the IPO price, hitting a daily low of $119.7. The whale address starting with 0x899c, previously tracked, went long on SPCX just ahead of the positive news that the stock would be added to the Nasdaq. For over a month after that, the address made no adjustments to its position, leaving it untouched as the positive catalyst was priced in, and through the subsequent continuous decline and drop below the IPO price, bringing the position to the brink of liquidation with only about $4 of buffer remaining. It bought 16,082.2 SPCX shares on the morning of June 15, and has not altered its position size since. As of press time, the whale holds this long position with 3x isolated margin, with the position valued at approximately $1.94 million, an unrealized loss of around $756,000, and a return of roughly -84.1%; the liquidation price is about $116.6. The account currently has only $111,500 in margin left, all of which is used to maintain this position. Trading records show this whale is a left-side trader, who earned a $620,000 profit from a long Bitcoin position in early March; subsequent long crude oil positions and this SPCX position have together erased all those gains. Previous news: A whale went all-in long on SPCX with $2.72 million, expecting the stock to rally ahead of its addition to the Nasdaq 100.

According to Onchainlens monitoring, a Bitcoin whale that has been hoarding BTC for six years transferred 2,000 Bitcoin (BTC) valued at approximately $130.5 million. Of the total, 800 BTC (worth around $52.2 million) was moved to Cumberland for over-the-counter (OTC) trading, while 1,200 BTC (valued at roughly $78.3 million) was transferred to a new wallet address.

Bitget has launched a US stock earnings prediction contest running from July 21 to mid-to-late August. During the event, users can earn prediction tickets by completing stock spot (rToken) or stock contract trading tasks, which grant access to predicting the rise or fall of US stock earnings. Prediction results are determined by comparing the closing price of the first trading day after earnings release with that of the trading day prior to the earnings announcement. Different prediction sessions will be rolled out successively based on US stock earnings release timelines, with the first batch covering assets including Tesla, Google, and Intel. Each session has a total prize pool of 10,000 USDT, split between winning and losing participants at a 70% to 30% ratio, and the maximum individual payout per session is 1,000 USDT. For more details, please refer to Bitget’s official platform.

According to Bitget market data, spot silver has risen more than 2% intraday, currently trading at $57.56 per ounce. Spot gold has rallied $8 in the short term, hitting $4037 per ounce.