AiCoin Daily Report (July 12)

1. The U.S. Senate passed the "Genius Act", which may bring a turning point for stablecoin development.

On July 12, DL News reported that the "Genius Act" passed by the U.S. Senate is drawing attention from the banking and legal sectors. The bill grants stablecoin holders priority claims on their backing assets in the event of bankruptcy, which could pose risks to traditional banks and other clients. Georgetown University law professor Adam Levitin warned that this arrangement essentially "subsidizes stablecoin issuance at the expense of bank deposits," potentially harming the interests of ordinary bank customers, especially during the bankruptcy of the stablecoin issuer or its custodian bank. The current version of the bill stipulates that stablecoins must be backed by highly liquid assets (such as U.S. Treasury bonds), and issuers are required to disclose their reserves monthly and have the ability to freeze tokens. If passed, banks and other entities will be able to issue compliant stablecoins. The bill is currently awaiting review by the U.S. House of Representatives. Although it aims to enhance user confidence and strengthen the connection between stablecoins and the real financial system, its priority design for bankruptcy handling has also sparked discussions on regulatory logic, financial stability, and potential inter-bank interest distribution. Industry insiders indicate that this bill could become a turning point in the development of stablecoins while also intensifying concerns about the impact on the traditional financial system.

2. Multiple whales are shorting ETH with high leverage, with a position value exceeding $140 million.

On July 12, according to Lookonchain monitoring, 0x8c58 deposited 3.74 million USDC into Hyperliquid in the past hour and shorted 18,394 ETH with 15x leverage (position value 54.3 million USD). 0x2258 deposited 3.25 million USDC 16 hours ago and shorted 16,219 ETH with 25x leverage (position value 48 million USD). 0xec4b shorted 13,845 ETH with 15x leverage (position value 41.07 million USD). -Original text

3. Nasdaq-listed company BTC Digital establishes a $1 million ETH strategic reserve.

According to The Block, Nasdaq-listed company BTC Digital has announced the establishment of a strategic reserve of native Ethereum tokens worth $1 million and plans to expand this reserve.

4. The Japanese listed company Remixpoint increased its holdings by 116.72 BTC, bringing its total holdings to 1168.28 BTC.

On July 11, the Japanese listed company Remixpoint increased its holdings by 116.72 BTC, bringing its total holdings to 1,168.28 coins. -Original text

5. The GMX hacker has returned stolen assets worth $40.5 million.

On July 11, according to monitoring by Onchain Lens, the GMX hacker has returned a total of $40.5 million worth of stolen cryptocurrency assets, including 10,000 ETH and 10.5 million FRAX. The hacker currently holds 1,700 ETH, worth about $5.12 million. -Original

6. Coinbase sues the Governor of Oregon, demanding the disclosure of records regarding changes in cryptocurrency regulatory policies.

Coinbase has filed a lawsuit against Oregon Governor Tina Kotek in the Marion County Circuit Court, demanding the disclosure of public records related to the abrupt changes in cryptocurrency asset regulatory policy. Coinbase points out that the Oregon government suddenly changed its long-standing policy position in April 2025 and sued Coinbase without public participation, claiming that trading of 31 digital assets on its platform constitutes regulated securities transactions. Coinbase emphasizes that this policy change affects hundreds of thousands of digital asset holders and traders in Oregon, yet the entire process lacked public discussion or rule-making procedures. The company states that this lawsuit is not directed at the Attorney General's accusations against Coinbase per se, but rather revolves around whether the state government violated public records laws by failing to legally disclose information behind its new regulatory stance.

7. The US-listed company signed a business merger declaration with Ri Sports, focusing on cryptocurrency mining.

On July 11, Signing Day Sports (NYSE American: SGN) announced that it has submitted a draft S-4 confidential registration statement to the U.S. Securities and Exchange Commission (SEC) through a newly formed Delaware company BlockchAIn Digital Infrastructure, effective July 11, 2025. The business combination agreement previously announced on May 28 involves the merger of Signing Day Sports with One Blockchain LLC, a digital infrastructure developer focused on Bitcoin mining and high-performance computing, which had approximately $26.8 million in revenue and about $5.7 million in net income in 2024. The transaction is subject to the approval of Signing Day Sports shareholders and the listing approval of the NYSE American LLC. The combined company will focus on the cryptocurrency mining, artificial intelligence, and high-performance computing data hosting markets. -Original text

8. The U.S. Digital Asset Director stated that the upcoming week is a critical juncture for the development of cryptocurrency in the United States.

The above is a selection of hot topics from the past 24 hours. For faster news, please download AiCoin ().