PA Daily | Trump signs stablecoin-related bill "GENIUS Act"; SharpLink Gaming increases its holdings by 4,904 ETH, currently with unrealized gains of $260 million.

Today’s news highlights:

1. US President Trump officially signed the stablecoin-related bill “GENIUS Act”

2. Cryptocurrency exchange Bullish applies for IPO

3. Binance: Hold at least 160 Binance Alpha points to claim 900 ESPORTS token airdrop.

4. The Washington Post: One-fifth of senior officials in the Trump administration hold cryptocurrencies

5. WLFI token trading is expected to open within six to eight weeks.

6. SharpLink Gaming purchased another 4,904 ETH 2 hours ago, with a total unrealized profit of 260 million USD.

7. Binance: Hold at least 160 Binance Alpha points to claim 900 ESPORTS token airdrop.

8. Ethereum spot ETF had a net inflow of $402 million yesterday, continuing a net inflow for 11 consecutive days.

Regulation/Macro

U.S. President Trump officially signed the stablecoin-related bill “GENIUS Act”.

According to CCTV News, U.S. President Trump has officially signed the “Guidance and Establishment of the United States Stablecoin National Innovation Act” (the “GENIUS Act”), marking the implementation phase of stablecoin regulatory legislation in the United States. In his speech, Trump stated that he has signed an executive order to establish a federal “strategic Bitcoin reserve” and a “national digital asset reserve.” At the same time, Trump reiterated that he “will never allow the establishment of a central bank digital currency in the United States.”

On the 17th, the U.S. House of Representatives passed this bill with 308 votes in favor and 122 votes against. The bill aims to establish a regulatory framework for stablecoins that are “anchored” to the dollar. However, the bill has faced criticism and opposition from some individuals. Some Democrats believe that the bill fails to provide sufficient protections for consumers, national security, or financial stability, and accused the Trump family of having ties to cryptocurrency.

Block will join the S&P 500 index, replacing the oil company Hess.

According to Bloomberg, Twitter founder Jack Dorsey’s payment platform Block will be included in the S&P 500 index, replacing the oil company Hess.

Bloomberg: Cryptocurrency exchange Bullish applies for IPO

According to a report by Bloomberg, digital asset exchange operator Bullish, backed by billionaire Peter Thiel, has filed for an initial public offering (IPO) (. According to documents submitted to the U.S. Securities and Exchange Commission on Friday, the company is headquartered in the Cayman Islands, reported $80 million in digital asset sales in the first quarter, and a net loss of approximately $349 million, while sales in the same period last year were roughly the same, with a net profit of $105 million.

Charles Schwab intends to launch a stablecoin

According to Decrypt, Charles Schwab CEO Rick Wurster stated during the earnings call on Friday that Charles Schwab hopes to issue its own stablecoin. Rick Wurster said, “Stablecoins are likely to play a role in blockchain transactions, and that’s exactly what we hope to provide.” The call indicated that the Charles Schwab team is preparing to launch Bitcoin and Ethereum ETF spot trading for clients. The brokerage giant, which manages over $7 trillion in assets, has always been cautious about adding cryptocurrency investment options to its products.

21Shares submitted applications for two cryptocurrency index ETFs to the U.S. SEC.

According to an official announcement, 21Shares has collaborated with Teucrium ETFs to submit applications for two cryptocurrency index ETFs to the U.S. SEC, namely the 21Shares FTSE Crypto 10 Index ETF and the 21Shares FTSE Crypto 10 ex-BTC Index ETF. These track the top ten cryptocurrencies by market capitalization and the FTSE Crypto Index excluding Bitcoin.

) opinion

The Washington Post: One in five senior officials in the Trump administration hold cryptocurrencies.

According to The Washington Post, U.S. President Trump holds a total of $51 million in virtual currency assets, and among senior officials in the Trump administration, about 1 in 5 holds virtual currency. An investigation of the financial disclosure forms of approximately 300 senior officials in the Trump administration found that about 70 held virtual currency or invested in companies related to virtual currency and blockchain. As of the 3rd, The Washington Post requested public financial information from all government nominees approved by the Senate Committee on Homeland Security and Governmental Affairs, with 95% responding. The media independently filtered the officials’ financial information for blockchain or cryptocurrency, related wallets, or companies, noting that officials typically only disclose the “range” of their assets rather than exact amounts, and thus estimated using the minimum amount within that range.

According to the investigation, the total virtual currency assets declared by senior officials of the Trump administration amount to at least $193 million. The highest amount is held by U.S. Ambassador to Denmark Ken Hovey (co-founder of PayPal), who possesses up to $120 million in virtual assets. Trump is second, while the third place has seen a significant reduction to the million-dollar level. According to statistics, Vice President J.D. Vance’s virtual assets amount to $250,000.

JD Coin Blockchain Technology: JD stablecoin has not been issued, and all trading platforms JD-HKD are counterfeit.

According to official news, recently, JD Coin Chain Technology has noticed that someone is impersonating JD by releasing a digital currency called JD-HKD on mainstream trading platforms, deceiving users into participating in trading. These deceptive actions not only harm the legitimate rights and interests of JD Coin Chain Technology but also cause damage to users participating in trading. JD Coin Chain Technology has communicated with mainstream trading platforms to remove the relevant digital currency and has issued an announcement to inform users.

Here, JD Coin Chain Technology would like to remind all users: as a participant in the Hong Kong Monetary Authority’s stablecoin issuer sandbox, JD Coin Chain Technology fully complies with the process of implementing Hong Kong’s regulatory guidance. Before obtaining the Hong Kong stablecoin issuer license, any issuance of coins with the words JD Stablecoin, JD-HKD, JD-USD, etc., aimed at attracting users to purchase, as well as any coin issuance under the name of JD or its partners, is a scam. JD will also not issue any governance tokens other than JD Stablecoin. Users are advised to carefully discern and avoid participation. JD Coin Chain Technology states that it will provide real-time updates through its official website and mainstream media channels, urging users to consider JD Coin Chain Technology’s official website as the only official channel for obtaining accurate information.

Currently, JD Coin Chain Technology is one of the three participants in the Hong Kong stablecoin issuer sandbox, and will continue to promote project compliance and explore the possibilities of reducing costs and improving efficiency for global enterprises in cross-border settlement and individual payments.

SEC Chairman: Stablecoins fall under the jurisdiction of banking regulators.

According to Jinshi reports, SEC Chairman Gary Gensler stated that the focus of the cryptocurrency working group is to establish clear regulatory rules, and stablecoins fall under the jurisdiction of banking regulators.

Project Updates

Trusta.AI (TA) will be launched on Binance Alpha and Binance Futures on July 21.

According to a Binance announcement, Trusta.AI (TA) will open trading on Binance Alpha on July 21, 2025, at 07:00 (UTC), and the TAUSDT perpetual contract will go live on the same day at 07:30 (UTC), with leverage up to 50 times. Binance is the first platform to list Trusta.AI (TA). To celebrate the launch, eligible users can claim exclusive airdrops on the Binance Alpha event page using Binance Alpha points from July 21, 07:00 to July 22, 07:00 (UTC). Trusta.AI is a protocol that redefines trust for the AI era through identity and on-chain reputation.

dYdX acquires the crypto social trading platform Pocket Protector, marking its first external acquisition.

The decentralized derivatives exchange dYdX has completed the acquisition of the crypto social trading platform Pocket Protector, marking its first external acquisition. The deal was completed in a cash + DYDX token combination, with the specific amount undisclosed. The two co-founders of Pocket Protector will join dYdX as President and Head of Growth, respectively, and their developed Telegram trading bot (including copy trading features) and a 9-person technical team will be integrated into dYdX. Pocket Protector was established last year and has raised $7 million from investors such as Electric Capital and Dragonfly.

Tether CEO: Will ensure that USDT complies with the provisions of the “GENIUS Act”, but still plans to launch a stablecoin specifically for the United States.

After President Donald Trump signed the GENIUS Act, Tether CEO Paolo Ardoino stated that the company plans to ensure that its flagship stablecoin USDT (the token pegged to the US dollar) complies with the regulations for foreign stablecoin issuers set forth in the GENIUS Act, thus enabling it to be traded in the United States. Ardoino mentioned that Tether still intends to create a US-based stablecoin, but also hopes for USDT to receive approval under GENIUS. He noted that Tether’s two products would cater to different needs of various customers in the US. For instance, USDT may be used ‘primarily’ as a means for overseas remittances in the US.

The “GENIUS Act” requires foreign issuers to comply with strict anti-money laundering laws and undergo complex reserve audits. Tether’s reserves have never undergone a comprehensive audit, but Ardoino stated that the company plans to conduct an audit in the future.

World Liberty Financial: WLFI token trading is expected to start within six to eight weeks.

World Liberty Financial announced that its governance token WLFI will begin trading within six to eight weeks starting from July 18, completing community authorization, on-chain transfers, and secondary market access. According to the announcement, the team will use this time to finalize “strategic adjustments,” such as listing on exchanges and a phased unlocking plan, aimed at increasing participant engagement.

On July 17, it was reported that the “WLFI Token Transfer Proposal” has been voted and approved.

Binance: Hold at least 160 Binance Alpha points to claim 900 ESPORTS token airdrop.

According to the official announcement from Binance, Yooldo Games ###ESPORTS( trading will begin on July 19 at 17:00 (UTC+8). After the trading starts, users holding at least 160 Binance Alpha points can claim 900 ESPORTS token airdrops. First come, first served, until the airdrop pool is exhausted or the event ends. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise it will be considered as giving up the airdrop.

) important data

The Bitcoin spot ETF saw a net inflow of $363 million yesterday, marking 12 consecutive days of net inflows.

Ethereum spot ETF had a net inflow of $402 million yesterday, marking 11 consecutive days of net inflows.

Ethereum’s market value surpasses Costco, ranking 29th among global asset market values.

According to data from 8marketcap, the market capitalization of Ethereum has reached $437.3 billion, surpassing the membership-based warehouse retail company Costco, and has risen to 29th place in global asset market value.

U.S. stocks closed: the three major indices were mixed, Circle fell by 4.71%, Coinbase rose by 2.2%.

According to Jinshi, U.S. stocks closed lower on Friday, with the Dow Jones initially down 0.32%, the S&P 500 slightly down, and the Nasdaq slightly up by 0.05%. Cryptocurrency-related stocks showed mixed results, with Robinhood###HOOD.O( up 4.07%, Coinbase)COIN.O( up 2.2%, Circle)CRCL.N( down 4.71%, and Hut 8)HUT.O( down 2.26%.

A certain whale/institution bought 19,550 ETH again 10 hours ago, currently holding a position with an unrealized profit of approximately 41.34 million USD.

According to on-chain analyst Yu Jin’s monitoring, [whales/institutions hoarding ETH through FalconX] continued to accumulate 19,550 ETH (70.7 million USD) 10 hours ago. Since July 12, this address has been continuously accumulating 122,000 ETH (435 million USD) through FalconX, with an average price of about 3,213 USD. Currently, there is an unrealized profit of 41.34 million USD.

50,600 ETH flowed from HTX to Binance 6 hours ago, worth approximately $181 million.

According to on-chain analyst Yu Jin’s monitoring, 50,600 ETH (worth $181 million) flowed into Binance from HTX in the same way as last time, 6 hours ago. The ETH was redeemed from Aave by the HTX Recovery wallet, then transferred to the HTX hot wallet, and finally flowed into Binance. In the past week, a total of 160,600 ETH (worth $518 million) has flowed into Binance from HTX in this manner.

) Institutional Increase

The publicly traded company TAO Synergies has invested $10 million to purchase TAO tokens as reserves.

According to a report by PR Newswire, TAO Synergies Inc. ###Nasdaq: TAOX( announced that, as of July 17, 2025, it has invested $10 million to purchase 29,899 TAO tokens at an average price of approximately $334 per token, in accordance with the company’s digital asset reserve strategy for the native Bittensor token TAO. TAO Synergies has now become the largest publicly listed pure holder of TAO tokens in the world.

Bit Digital increased its holdings by 19,683 ETH, bringing its total holdings to over 120,000 ETH.

According to a report by PR Newswire, Nasdaq-listed company Bit Digital announced that it has used the net proceeds of approximately $67.3 million from a recently completed registered direct offering to institutional investors to purchase about 19,683 Ethereum. After the transaction, Bit Digital holds approximately 120,306 ETH.

The publicly listed company Basel Medical announced the suspension of its Bitcoin acquisition strategy.

According to Bitcoin News, Singapore’s orthopedic medical group Basel Medical (NASDAQ: BMGL) has announced the suspension of its Bitcoin acquisition strategy due to the ongoing uncertainty surrounding U.S. regulations on digital assets.

The financial instrument platform Aether Holdings plans to raise $40 million, with most of the funds intended for purchasing Bitcoin.

According to market news, the artificial intelligence and data-driven financial tool platform Aether Holdings has announced a $40 million financing round, most of which will be used to purchase Bitcoin as part of its financial reserve strategy.

SharpLink Gaming has acquired 4,904 ETH again 2 hours ago, currently with a cumulative unrealized profit of $260 million.

According to on-chain analyst Yu Jin’s monitoring, SharpLink Gaming continued to purchase 4,904 ETH (17.45 million USD) through Coinbase Prime 2 hours ago. Since early June, SharpLink Gaming has accumulated a total of 358,000 ETH using a micro-strategy operating model, with an average purchase price of about 2,825 USD, resulting in a floating profit of 260 million USD.