According to Odaily Planet Daily, U.S. crypto stocks generally fell, with Coinbase (COIN) down 16.19% and the current price being $317.67; Riot Platforms (RIOT) down 18.07% and the current price being $10.99; Circle (CRCL) down 8.02% and the current price being $168.8; Robinhood Markets (HOOD) down 8.76% and the current price being $93.90.

According to Odaily Planet Daily, Hong Kong's Stablecoin Ordinance officially came into effect on August 1st, with a six-month transition period. The first issuer license is expected to be issued early next year. Shi Ziyuan, head of proprietary trading at Huaxing Capital, stated that this initiative is expected to attract more mainstream institutions and high-quality capital into the market.

Huaxing Capital plans to expand its Hong Kong licenses (1, 4, and 9) to include digital assets, while also increasing investment in infrastructure areas such as Web 3 and Reliable Web Access (RWA). The company previously invested in stablecoin issuer Circle and launched a $100 million investment budget in June of this year. (Yahoo Finance)

According to Odaily Planet Daily, Bernstein stated in a report to clients that the current crypto bull market cycle is still in its early stages, and trading platforms such as Robinhood and Coinbase are expected to benefit from increased trading volume and mainstream market adoption. Bernstein reiterated its "outperform" rating for the two companies and remained confident in their performance. The report showed that Robinhood's second-quarter results announced on Wednesday were impressive, and it continued to expand its cryptocurrency products. Its trading volume soared to a six-month high in July, thanks to the recovery in market volatility and the influence of factors such as Circle's listing, which has led to growing investor interest in ETH, SOL, and DeFi tokens. Cryptocurrency trading volume is expected to rebound significantly in the second half of the year. In addition, the report mentioned that Coinbase has reached a strategic partnership with JPMorgan Chase, which has greatly promoted the popularization of digital assets. JPMorgan Chase's embrace of an industry once criticized by its CEO will accelerate Coinbase's customer acquisition. Bernstein believes that the current crypto bull market is still early, and recent developments have confirmed this view. At present, "no action is needed." (The Block)

According to official news from Odaily Planet Daily, Circle announced that native USDC and CCTP V2 will soon be launched on Hyperliquid.

According to Odaily Planet Daily, cryptocurrency concept stocks collectively rose in early trading, with BMNR up more than 6%, MARA Holdings up more than 4%, Canaan Technology and Circle up more than 3%, Coinbase up more than 2%, and Strategy up 0.75%.