1. Popular CEX currencies

Top 10 CEX trading volume and 24-hour price changes:

• BTC: +1.82%
• ETH: +6.10%
• XRP: +9.89%
• SOL: +3.37%
• DOGE: +7.55%
• BNB: +1.69%
• SUI: +7.58%
• LTC: +2.82%
• ADA: +6.15%
• TRX: -0.18%

24-hour price increase list (data source: OKX):

• RUNECOIN: +52.88%
• BIO: +48.98%
• PENDLE: +25.84%
• OL: +20.41%
• FXS: +16.22%
• FOXY: +15.19%
• DUCK: +14.97%
• MERL: +14.73%
• XLM: +12.92%
• FLUID: +12.28%

2. Top 5 popular memes on the chain (data source: GMGN ):

• LILPEPE
• PIPI
• BTH
• JD.com
• DEEPSEEK

3. 24-hour hot search currencies

BTH is a meme coin derived from the WIF prototype hat.

Headlines

Trump: Selects Stephen Milan, current chairman of the Council of Economic Advisers, to serve on the Federal Reserve Board until January 31, 2026

U.S. President Trump: Selected Stephen Milan, current Chairman of the Council of Economic Advisers, to fill the recently vacated seat on the Federal Reserve Board of Governors, with a term ending on January 31, 2026.

Trump officially signed an executive order allowing 401(k) investors to invest in alternative assets such as cryptocurrencies

US President Trump officially signed an executive order allowing 401(k) investors to invest in alternative assets such as cryptocurrencies. It is reported that the 401(k) retirement fund market has a capital volume of 12.5 trillion US dollars.

The US SEC's lawsuit against Ripple has concluded, with XRP ultimately ruled to be a non-security.

The U.S. Securities and Exchange Commission (SEC) and Ripple have reached an agreement to jointly dismiss their appeal in the Second Circuit Court of Appeal, officially concluding one of the most closely watched legal battles in the crypto industry. According to the dismissal documents, both parties will bear their own legal costs. A 2023 ruling by Judge Analisa Torres will become final: XRP trading in the secondary market does not constitute a security, but large sales to institutional investors constitute an illegal securities offering. A $125 million fine was imposed, along with a permanent injunction prohibiting future violations.

Ripple CEO Brad Garlinghouse said the company will completely end this legal dispute and focus on more important things - building the "Internet of Value."

OpenAI officially releases GPT-5

OpenAI announced the release of GPT-5, its most advanced artificial intelligence model to date, on Thursday. The model represents the culmination of more than two years of development, punctuated by numerous setbacks and delays. CEO Sam Altman stated in a Wednesday conference call with reporters that using the new technology "literally feels like talking to a PhD-level expert in a field." He emphasized the model's ability to enable anyone to create software applications using only simple English prompts—a process often referred to as "vibe coding."

Industry News

Trump signs executive order halting the crypto industry's "banking disconnection"

Former US President Trump signed an executive order on Thursday prohibiting federal regulators from blocking banks from serving the crypto industry due to "reputational risk." The White House stated that previous unfair practices undermined public trust in the financial system and caused economic harm to law-abiding citizens. The move is seen as a major step towards ending the "Chokepoint 2.0" operation, which cuts off bank accounts for the crypto industry. Regulators such as the Federal Reserve have pledged to no longer assess customer relationships based on "reputational risk." Several Republican lawmakers expressed support for the move, saying it would help curb financial discrimination and restore regulatory transparency.

Fundamental Global, a US-listed company, plans to raise up to $5 billion to purchase ETH and fund business operations.

Fundamental Global Inc., a Nasdaq-listed company, has filed a Form S-3 registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed securities offering in tranches totaling up to $5 billion. The company plans to use substantially all of the net proceeds from the offering to purchase ether (ETH), with the remainder to fund working capital needs, general corporate purposes, and operating expenses.

Earlier news, Fundamental Global announced that it had completed a $200 million private equity financing, with participation from Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group (DCG) and Kenetic.

Project News

Nasdaq-listed company Oblong disclosed that it has pledged $8 million worth of TAO

Nasdaq-listed Bittensor treasury company Oblong disclosed that it has staked $8 million worth of TAO tokens. The company said that by staking TAO tokens, Oblong can reinvest in the ecosystem, thereby strengthening innovation and aligning with its vision for the future of decentralized artificial intelligence.

Kraken now supports US dollar deposits via PayPal for US users

Kraken has announced that it now supports US dollar deposits via PayPal for US users, eliminating the need for wire transfers, waiting times, and bank logins. With just a few clicks, users can top up their PayPal accounts with USD and start trading.

Chainlink Launches Chainlink Reserve, a Strategic LINK Reserve Program

Chainlink announced the launch of Chainlink Reserve, a strategic on-chain reserve for LINK tokens, which plans to convert user fees from enterprise integrations and on-chain service fees into LINK tokens to support the long-term sustainable growth of the Chainlink network.

Chainlink co-founder Sergey Nazarov stated that market demand for Chainlink has already generated hundreds of millions of dollars in revenue for the project, much of it from large enterprises. The reserve has already accumulated over $1 million worth of LINK tokens in the early stages of its launch and is expected to continue to grow.

Cipher Mining Q2 Financial Report: Bitcoin Holdings Worth Approximately $112 Million

Cipher Mining Inc. (NASDAQ: CIFR) released its second-quarter 2025 financial results. The report shows that the company achieved revenue of $44 million, adjusted earnings of $30 million, and a net loss of $46 million in the second quarter. As of the end of the second quarter, the company held Bitcoin worth $112 million.

Investment and Financing

Crypto derivatives trading platform Euphoria completes $7.5 million seed round of financing, with participation from Figment Capital and others

Euphoria, a crypto derivatives trading platform, announced the completion of a $7.5 million seed funding round led by Karatage, with participation from Figment Capital, Robot Ventures, Bankless Ventures, First Commit, Hash 3, Comfy Capital, and Kosmos Ventures. Euphoria is developing a mobile app designed to simplify cryptocurrency derivatives trading, such as options and perpetual contracts, for everyday users and expects to launch its Tap trading product on the MegaETH mainnet later this year.

Scenius Capital Completes $20 Million Funding for Emerging Crypto Venture Fund

Scenius Capital co-founder and managing partner Ben Jacobs said the firm just closed a "slightly oversubscribed" $20 million funding round, which will be used to invest in emerging crypto venture funds.

Ripple to acquire stablecoin platform Rail for $200 million

Ripple will acquire the stablecoin platform Rail for $200 million. The transaction is expected to close in the fourth quarter of this year. Rail is a Toronto-based payment platform invested by Galaxy Ventures and Accomplice.

Spanish crypto exchange Bit2Me completes €30 million funding round, led by Tether

Spanish crypto exchange Bit2Me announced the completion of a €30 million funding round, led by Tether Ventures, a subsidiary of Tether. The funds will support Bit2Me's expansion within the EU and strengthen its operations in Latin America, particularly Argentina. Previously, Bit2Me became the first Spanish-speaking cryptoasset service provider (CASP) to receive authorization from the Spanish National Securities Market Commission (CNMV), complying with the EU's Markets in Crypto-Assets Directive (MiCA). This MiCA license allows Bit2Me to conduct business legally in all 27 EU member states.

SharpLink announces it has raised $200 million through a rights offering

SharpLink announced that it has raised $200 million through a rights issue at $19.5 per share, led by four global institutional investors. The new funds will be used to expand the Ethereum treasury.

Regulatory trends

New York financial regulator reaches $48.5 million settlement with Paxos Trust

According to market news, New York financial regulators have reached a $48.5 million settlement with Paxos Trust. The settlement requires Paxos to pay a $26.5 million fine and invest an additional $22 million in its compliance program. An investigation revealed that Paxos failed to effectively monitor suspicious transactions involving Binance, resulting in approximately $1.6 billion in funds suspected of illicit activities flowing into and out of Binance between 2017 and 2022. Furthermore, Paxos's customer due diligence and transaction monitoring procedures were chronically inadequate, failing to promptly identify and address high-risk accounts and activities.

Character Voice

JPMorgan Analyst: DeFi and Asset Tokenization Market Growth Remains Disappointing

In his latest research report, JPMorgan analyst Nikolaos Panigirtzoglou stated that the growth rate of the DeFi and asset tokenization markets remains disappointing, noting that the recovery since the 2022 cryptocurrency winter has been slow. Currently, DeFi's total locked-in value (TVL) remains below its 2021 peak, with most activity still driven by crypto-native and retail investors, and institutional adoption still lagging. In the asset tokenization market, tokenized assets have reached $25 billion, tokenized bonds have reached $8 billion, and the adoption rate of money market funds is also increasing. However, most projects remain small, illiquid, or in the experimental stage.

Galaxy CEO: Trump allows cryptocurrencies to be included in 401(k) pension plans, and huge amounts of money will flow into BTC

Galaxy CEO Mike Novogratz told CNBC in an interview that Trump will sign an executive order on Thursday allowing private equity, real estate, cryptocurrencies and other alternative assets to be included in 401(k) pension plans, which will bring "huge amounts of money" to Bitcoin.

Metaplanet CEO: The company's BTC value per share has increased 37 times compared to the same period last year

Simon Gerovich, CEO of Metaplanet, a Japanese listed company, posted on the X platform that the company's BTC per share value has increased 37 times compared to the same period last year. Metaplanet's mission is clear: to maximize the value of BTC per share in a responsible, sustainable, secure, and indefinite manner with full transparency.