BTC breaks through the $118000 mark

According to BlockBeats, on July 12th, according to @ btcNLNico's statistics, entities implementing the Bitcoin treasury strategy this week bought a total of 4700 BTC. Among them, 6 new entities implemented a Bitcoin treasury strategy and bought 491.2 BTC; There are also announcements from 10 companies preparing to implement their treasury plans in the future, among which ReserveOne has up to $1.05 billion in funds; Another 29 companies increased their holdings of 4209 BTC.

The current price of ETH is $2951.17, with a decrease of 0.98% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 10.47 million US dollars, with multiple orders being the main liquidation and 2.52 million US dollars (24.11%) of ETH liquidation. The data is for reference only.

According to a report by Jin Shi, the White House is putting pressure on Powell over the renovation of the Federal Reserve headquarters. Nick Timiraos, the "voice tube" of the Federal Reserve, pointed out in an article that Federal Reserve researchers say that the latest developments are at best a transparent attempt to open up a new pressure front for the Fed, or at worst, a dangerous step in creating legal grounds for Powell's resignation. We are at a critical moment in the history of the Federal Reserve, "said Peter Conte Brown, a scholar at the University of Pennsylvania who studies the Fed. In my opinion, it is clear that the Trump administration is now using various mechanisms to fabricate an after the fact explanation for Powell's dismissal. Investors have noticed this because the dismissal of the Federal Reserve Chairman for political reasons will break the established norms that have supported global confidence in the US dollar for decades. If President Trump and his allies launch such an attack on the Federal Reserve, they will bring serious instability to almost all aspects of the global economy, "said Conte Brown.

According to a report by Golden Finance, Cango, a Bitcoin mining company listed on the New York Stock Exchange, announced on X platform that it mined 149.5 bitcoins last week and its total Bitcoin holdings have increased to 4091. As of now, there have been no sales transactions.

According to BlockBeats, on July 11th, various digital currencies and related concepts represented by "stablecoins" have recently attracted market attention. Some illegal institutions and individuals, using gimmicks such as "financial innovation," "blockchain technology," "digital economy," and "digital assets," take advantage of the public's limited understanding of new financial concepts by issuing or speculating on so-called "virtual currencies," "digital assets," "" stablecoin investment projects, "etc., promising high returns and inducing the public to invest funds in trading speculation. This type of activity has significant characteristics of illegal fundraising risks: One is the lack of qualifications. These institutions or individuals do not have the legal qualifications to accept deposits, sell wealth management products, or issue securities to the public without the approval or filing of the financial regulatory department of the State Council in accordance with the law. The second is conceptual packaging. Using emerging and complex concepts such as stablecoins, decentralized finance (DeFi), and Web3.0 for packaging and speculation, intentionally creating information asymmetry and confusing investors. The third is false promises. There is a widespread tendency to exaggerate advertising and make false promises, such as "guaranteed profits", "high fixed income", "guaranteed interest payments", etc., taking advantage of the public's pursuit of high returns. The fourth is the operation of the fund pool. Its operation mode often relies on absorbing funds from new investors to maintain operation or pay the returns of previous investors. Once the funding chain breaks or the project party runs away, investors will face a huge risk of not being able to recover their principal. The fifth is risk spillover. Such activities are prone to evolve into illegal fundraising, financial fraud, pyramid schemes, money laundering, and other criminal activities, seriously disrupting the economic and financial order, infringing on the property safety of the people, and damaging the foundation of social integrity. The Beijing Internet Finance Industry Association solemnly reminds and appeals to consumers: be sure to recognize the essence, be highly alert to any investment project that promises high returns and guaranteed capital and interest, and remember that "high returns are bound to be accompanied by high risks"; Before investing and managing finances, it is necessary to verify the legal qualifications of relevant institutions and products through official channels of the national financial management department, and choose licensed and legitimate financial institutions; Fully understand the high complexity and volatility of digital currencies such as stablecoins and related innovative concepts, and establish correct monetary concepts and rational investment concepts; Consciously resist and stay away from any form of virtual currency speculation, illegal token issuance, and unauthorized "digital asset" investment projects, and effectively protect personal property security. If any illegal fundraising clues are found, please immediately report to the financial regulatory department, public security department, or our association.