Morning News Exchange Returns 163 Million Worth of Bitcoin to German Government Apples Market Cap Reclaims Top Spot in US Stock Market

Headline:
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Exchange Returns $163 Million Worth of Bitcoin to the German Government, Possibly Due to Unsuccessful Sale within Target Price Range
According to Arkham Intelligence data, as of 4:15 pm Eastern Time on Monday, the German government address has received 2,898 bitcoins worth approximately $163 million, mainly from Coinbase, Kraken, and Bitstamp.
Steven Zheng, Director of Research at The Block, stated that the exchange likely returned the bitcoins because they were unable to sell them within the target price range. Steven Zheng said, “Considering that some bitcoins have been returned from Coinbase to the German government address, we can assume that they are unsold bitcoins, part of the sales agreement between crypto exchanges and the country.” Data shows that the German government currently holds over $2 billion worth of bitcoin.
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Apple Reclaims Top Spot in US Stock Market with Over $3.5 Trillion Market Cap
Apple’s stock price reached a new all-time high, rising over 0.2% to $226.82, pushing its market cap to nearly $3.5 trillion, surpassing Microsoft and reclaiming the top spot in the US stock market. Industry insiders previously stated that Apple has raised its iPhone 16 series shipment target to around 90 million units. Increased sales during the 618 shopping festival likely boosted Apple’s sales expectations for the iPhone 16 series.
Market Trends:
According to Coingecko data as of press time:
BTC recent trading price: $56,662.99, 24-hour change: +1.5%;
ETH recent trading price: $3,017.23, 24-hour change: +3.0%;
BNB recent trading price: $510.47, 24-hour change: +4.1%;
SOL recent trading price: $139.49, 24-hour change: +6.1%;
DOGE recent trading price: $0.1076, 24-hour change: +3.4%;
XPR recent trading price: $0.4315, 24-hour change: +3.0%.
Policy:
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Six US Ether ETF Applicants Have Submitted Updated S-1 Filings
Six US Ether ETF applicants, including Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock, have submitted updated S-1 filings.
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Analysis: Final Approval Deadline for Solana ETF is Mid-March 2025
According to Bloomberg ETF analyst Eric Balchunas, “It appears that the final deadline for the Solana ETF is mid-March 2025. But the most important date between now and then is November. If Biden wins, these ETFs are likely toast. If Trump wins, anything is possible.”
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Polymarket: There is a 29% Chance Senator JD Vance Becomes Vice Presidential Candidate
Senator JD Vance (Republican, Ohio), who is pushing for cryptocurrency regulation reform, has a 29% chance of becoming former President Donald Trump’s running mate, according to conclusions drawn by traders on the cryptocurrency prediction market platform Polymarket. It is reported that Trump is expected to announce his vice presidential candidate next week.
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Singapore Court Rules in Favor of Fantom Foundation in Lawsuit Against Multichain
Fantom Foundation has successfully won a lawsuit against Multichain in the Singapore High Court, with the judgment ruling that Multichain breached the contract and must compensate $2.1 million in damages. The court noted that Multichain’s actions in controlling the cryptocurrency assets violated the user agreement, and the background of the case was Multichain’s admission of a key breach on social media. Fantom Foundation plans to continue with the winding-up process of Multichain and provide support for the recovery and distribution of affected parties’ assets.
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US Republican Party Expresses Support for Multiple Cryptocurrency Policy Measures in Its 2024 Official Party Platform
The Republican National Committee expressed support for multiple cryptocurrency policy measures beneficial to digital asset companies and holders in its official party platform for the 2024 US presidential election. According to an official document released by the campaign team of Republican presidential candidate Donald Trump on Monday, the Republican Party’s platform “Make America Great Again” vows to end “illegal and un-American attacks” on the US cryptocurrency industry. The platform also promises to “defend the right to mine Bitcoin” and allow cryptocurrency holders to self-custody their tokens, as well as opposing the creation of central bank digital currencies (CBDCs). It states, “We will defend the right to transact freely, without government surveillance and control.”
Blockchain Applications:
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Visa Collaborates with HSBC and Hang Seng Bank to Pilot Tokenized Deposits
Visa, HSBC, and Hang Seng Bank are conducting trials of tokenized deposits as part of the e-HKD pilot program in Hong Kong. The trial covers two use cases: real estate transaction settlement and Visa card payments. Visa states that tokenized deposits can improve settlement efficiency and innovate new business applications.
Vincent Lau from HSBC stated that the benefits of implementing tokenized deposits require further development of interoperability between different banks. The trial shows that tokenized deposits can enhance business efficiency and transparency through simplified processes, reduced manual verification, and near-real-time settlement, while blockchain technology strengthens data transparency.
Despite the challenges of regulatory evolution and infrastructure development, Visa and HSBC are optimistic about the practical effect of tokenized deposits. This progress demonstrates Hong Kong’s proactive approach to exploring and promoting new financial technologies, especially in the areas of CBDC applications and interbank settlements.
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Dubai Customs Introduces Blockchain Platform to Enhance Operational Transparency
Dubai Customs has introduced a new blockchain platform to enhance operational transparency in commercial activities and strengthen collaboration between the government and the logistics industry. This initiative is part of Dubai’s broader blockchain strategy to promote the adoption of digital transactions and web3. Sultan Ahmed bin Sulayem, Chairman of Ports, Customs, and Free Zone Corporation, stated that this marks a significant step forward in improving operational efficiency in business.
The platform will streamline customs declarations and commercial transaction procedures, ensuring the security and immutability of shared data, and enhancing trust and visibility in the supply chain. Abdullah Busnad, Director-General of Dubai Customs, emphasized that the platform will not only benefit Dubai Customs but also facilitate collaboration with other government entities, simplifying and enhancing transparency in Dubai’s business environment. This initiative will help consolidate Dubai’s position as a global trade and logistics hub.
Cryptocurrencies:
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German Government Sells Over Half of Seized Assets
The German government transferred its holdings of 16,309 bitcoins to cryptocurrency exchanges and market makers on Monday (July 8). Blockchain data shows that this transfer caused over $900 million worth of bitcoin assets to flow out of the German government’s wallet, resulting in a decline in the price of bitcoin (BTC) in the European market on Monday afternoon.
According to blockchain data platform Arkham Intelligence, these bitcoins were transferred in batches to external addresses, including cryptocurrency exchanges Bitstamp, Kraken, and Coinbase, as well as market maker Flow Traders. Arkham Intelligence’s data also shows that the German government’s related wallet still holds approximately 23,788 bitcoins, indicating that they have sold over half of the seized assets.
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BlackRock’s BUIDL Fund Surpasses $500 Million
The market value of the BUIDL token, issued in partnership between global asset management company BlackRock and Securitize and backed by US Treasury bonds, has exceeded $500 million on Monday.
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Report: Nearly $1.4 Billion Lost in Cryptocurrency Hacks This Year
According to the mid-year Web3 Security Report by cybersecurity company Cyvers, the total amount of stolen cryptocurrency funds so far this year has approached $1.4 billion, with centralized exchanges becoming the new focal points of attacks. In the second quarter of 2024, cryptocurrency losses exceeded $600 million, a 100% increase compared to the same period last year. The report states that the significant increase in stolen funds is mainly due to a 900% increase in losses from centralized exchanges.
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Opinion: Cryptocurrencies Expected to Inherit $6 Trillion from Estates, Young Investors Actively Positioning Themselves
Matthew Sigel, Head of Digital Asset Research at Bitwise, predicts that over $6 trillion will flow into the cryptocurrency market in the next 20 years, mainly from the massive wealth inherited by young American investors. According to research by Bank of America, Generation X and Millennials are expected to inherit $84 trillion from the elderly and baby boomer generations, and they are projected to allocate 14% of their assets to cryptocurrencies. Young investors generally have a positive outlook on the growth prospects of cryptocurrencies, with 28% believing it offers the greatest investment opportunity, second only to real estate and private equity. Meanwhile, investors aged 44 and above show less interest in cryptocurrencies, with only 4% considering it to have the greatest growth opportunity. This trend reflects the shift of young investors away from traditional investment models, as they believe relying solely on stocks and bonds cannot achieve high returns.
Important Economic Developments:
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Probability of Fed Maintaining Interest Rates in August at 93.3%
According to CME’s “Fed Watch”: the probability of the Federal Reserve maintaining interest rates in August is 93.3%, while the probability of a 25 basis point rate cut is 6.7%. The probability of the Federal Reserve maintaining interest rates until September is 24.3%, with a cumulative 70.8% chance of a 25 basis point rate cut and a 5.0% chance of a cumulative 50 basis point rate cut.
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Mixed Closing for US Stock Market’s Three Major Indexes
The three major US stock indexes had mixed closing results, with the Dow Jones Industrial Average down 0.08%, the Nasdaq Composite up 0.28%, and the S&P 500 up 0.1%. Popular tech stocks had mixed performance, with the solar energy and computer hardware sectors leading the gains.
Encyclopedia:
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What is Market Depth in Cryptocurrency Trading?
In cryptocurrency trading, market depth refers to the ability of a market to absorb a large number of orders without significantly impacting the price. It is a liquidity indicator that shows the quantity of buy and sell orders at different price levels for a given cryptocurrency. How is market depth displayed? Depth charts are typically used to illustrate this data. They show buy orders (bids) on one side and sell orders (asks) on the other side to reflect price levels.
Disclaimer: As a blockchain news platform, the articles published are for informational purposes only and should not be considered as investment advice. Please develop a correct investment mindset and always be aware of the risks involved.