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Coinbase is undergoing the largest executive reshuffle in recent years. Chief Talent Officer Lawrence Brock has stepped down and transitioned to an advisory role, while co-head of the institutional division Greg Tusar has moved to a policy position; previously, General Counsel Paul Grewal planned to leave, and Jesse Pollak has stepped down as head of the Base app. After laying off 14% of its workforce in May, Coinbase is accelerating its transformation into a comprehensive trading platform that includes stocks and prediction markets.

CryptoQuant analyst Darkfost stated that there has been a noticeable increase in on-chain activity from the oldest group of Bitcoin holders recently. Data shows that the daily UTXO (Unspent Transaction Output) movement for BTC holders with holding periods of 5 to 7 years and 7 to 10 years has exceeded 5000 BTC multiple times.Darkfost pointed out that the spending of UTXOs does not necessarily mean selling. Long-term holders typically move Bitcoin for two main reasons: one is for security considerations, such as changing wallet addresses which leads to the transfer of UTXOs from the original address; the other is to sell assets. However, current on-chain data does not show a significant flow of funds to exchanges, indicating that these long-term holders are not currently engaging in large-scale selling of BTC. It is noteworthy that this behavior occurs as Bitcoin tests the $60,000 mark again, similar to market trends observed from February to March this year. The market will continue to monitor whether the activities of long-term holders will further impact the supply and demand dynamics of BTC.

According to Jinshi reports, Morgan Stanley strategists stated in a report that recent data indicates the Federal Reserve will remain steady at the July meeting and may keep interest rates unchanged for the remainder of the year. They noted that the inflation trend in the coming months is crucial, and inflation is expected to decline as anticipated; otherwise, the Federal Reserve may raise interest rates later this year.Currently, the money market has priced in expectations for nearly two rate hikes by the Federal Reserve before the end of the year, but the trend of slowing inflation may prompt the Federal Reserve to maintain the federal funds rate in the range of 3.5% to 3.75%.

Anthropic upgrades Claude's voice mode. Paid users can now choose Opus, Sonnet, and Haiku, no longer limited to the faster but less capable Haiku.Users can switch models during conversations and can also switch to text at any time. Claude defaults to the model selected in the last text chat and calls the fastest version in that series. The voice mode can also access Gmail, Google Calendar, Google Docs, and Slack. Users can have Claude check emails, change schedules, or draft replies, and will request authorization before executing.The new version is now available for testing on mobile, desktop, and web. Free users can only use Haiku and one connection tool. Voice now supports multiple languages including English, Japanese, and Korean, but does not include Chinese at this time. This upgrade mainly enhances model reasoning and tool invocation capabilities. Anthropic has not changed the voice model, so the naturalness of speech and interruption experience may not show significant changes.

According to Jinshi reports, the Korea Exchange has initiated a suspension of the programmatic trading mechanism for the KOSPI index.

Domestic DRAM storage IDM leader Changxin Technology will officially list on the Sci-Tech Innovation Board on July 27, with an issuance valuation of approximately 580 billion yuan and a total fundraising amount of 29.5 billion yuan, of which about 22.066 billion yuan is for equipment purchase and installation costs. Industry insiders believe that 2026-2027 is the golden window period for the introduction of domestic equipment.In terms of the supply chain, on the equipment side, North Huachuang has shipped a large volume of various categories such as etching and thin film deposition, Zhongwei Company continues to validate and mass-produce etching and thin film equipment, Huahai Qingshi CMP equipment has entered the core supply chain, and Jingce Electronics and Jingzhida testing equipment are benefiting simultaneously. On the materials side, Yake Technology precursor products cover advanced process needs, Guanggang Gas provides special gases and bulk gases, Jinhong Gas has a gas production order cycle of 15 years, Tongcheng New Materials ArF/KrF photoresists have entered mass production, Jingrui Electric Materials has a market share of over 40% in high-purity hydrogen peroxide, but high-end photoresists are still in the validation stage, and Debang Technology is in the sample testing stage. On the packaging and module side, Huatian Technology is a packaging supplier, Jiangbolong and Demingli have reached procurement agreements, while Maijie Technology is still in the introduction phase. On the distribution side, Shangluo Electronics has been authorized, and there are expectations for supply strategy adjustments after listing. Several listed companies hold shares indirectly through industrial funds, with Shangfeng Cement holding approximately 0.1517% of the equity before issuance.

Nasdaq-listed digital insurance product company Zhibao Technology announced that it has signed a non-binding term sheet with Joyertech and Information OPC, intending to sell shares through PIPE financing and receive approximately 3,500 bitcoins as consideration, valued at about $220 million at current prices. The transaction is still subject to final valuation, custody arrangements, audit verification, regulatory review, Nasdaq compliance, and the signing of a final agreement. The term sheet indicates that at the time of PIPE financing closing, the buyer is expected to designate a majority of the board members of Zhibao Technology, while the existing management team will continue to be responsible for daily operations. Zhibao Technology disclosed on July 15 that it received a deficiency notice from Nasdaq due to its stock price falling below $1 per share. The company has 180 calendar days to regain compliance with Nasdaq's minimum bid price requirement of $1 per share, with a deadline of January 6, 2027.

According to monitoring by Onchain Lens, investment firm Abraxas Capital transferred approximately $223.53 million worth of crypto assets to multiple cryptocurrency exchanges in the past 7 hours, including:2,211 BTC transferred to Kraken, worth about $143.88 million;30,825 ETH transferred to Binance, worth about $5.92 million;11.5 million USDC and 690,000 USDT transferred to Binance, worth about $12.19 million;5.89 million USDT transferred to Bitstamp;2.365 million USDC transferred to Kraken.During the same period, Abraxas Capital also withdrew approximately $26.42 million in assets from exchanges, including 5,137 ETH (about $9.81 million) and $16.61 million in stablecoins withdrawn from Binance.

Binance founder Zhao Changpeng paid tribute to BitMEX founder Arthur Hayes. It's unfortunate to see BitMEX shut down. Some thoughts:BitMEX was the first to launch 100x cryptocurrency trading back in 2014. Futures contracts had existed before this, making Friday trading exceptionally busy. BitMEX only accepted Bitcoin deposits, supported only one chain, allowed withdrawals once a day, and required multi-signature wallets. These seemingly inconvenient restrictions actually protected them from hacker attacks.After 18 months of struggle, the four founders ultimately admitted to violating the Bank Secrecy Act (BSA) a month before the trial. They were each fined $10 million and placed under house arrest. No one went to prison as a result. However, their business ultimately could not withstand the "cryptocurrency war" initiated by the Biden administration.In the end, the liquidation process of BitMEX appeared orderly, and users were able to withdraw their assets. Tribute to Arthur Hayes.

According to Jinshi News, Changxin Technology stated that the company's stock will be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 27, 2026.

The well-known cryptocurrency derivatives exchange BitMEX, founded by Arthur Hayes, officially announced that it will close at 04:00 (UTC) on September 23 and has stopped new user registrations. It will stop opening new positions and gradually enforce liquidation starting from August 26.It is reported that BitMEX, as the pioneer of perpetual contract products, gradually withdrew from the operation of BitMEX after being targeted by the U.S. government. In the past few years, BitMEX has continuously sought acquisition without success.

As of July 23, according to the ranking data from RootData for stock derivatives exchanges, Binance, Bybit, and Bitget occupy the top three positions. This list is based on a comprehensive scoring of exchanges supporting stock derivatives trading, evaluated on dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability, among which:Binance scored 92, supports 143 contracts, with an open interest of approximately $2.713 billion, a 24h trading volume of approximately $17.685 billion, and a funding rate of +0.0003%.Bybit scored 91.3, supports 131 contracts, with an open interest of approximately $95.9587 million, a 24h trading volume of approximately $920 million, and a funding rate of +0.0004%.Bitget scored 91.2, supports 252 contracts, with an open interest of approximately $757 million, a 24h trading volume of approximately $2.123 billion, and a funding rate of +0.0003%.It is worth noting that Bybit has entered the top two for the first time, but its open interest of approximately $95.9587 million is still the lowest among the top three exchanges, showing a significant gap compared to Binance and Bitget.

According to the Korea Herald, Mirae Asset Consulting, a non-financial subsidiary of Mirae Asset Group, will acquire a total of 97.15% equity in the South Korean cryptocurrency exchange Korbit. Korbit stated on July 23 that Mirae Asset Consulting completed the acquisition of 91.7% equity on the 22nd and is expected to acquire the remaining 5.42% equity on the 24th to complete the transaction.Previously, Mirae Asset Consulting announced on the 21st that it would acquire an additional 1,589,900 shares of Korbit for approximately 7.887 billion Korean won, increasing its total holdings from approximately 26,905,800 shares to approximately 28,495,700 shares, with the total investment amount rising from approximately 133.48 billion Korean won to approximately 141.367 billion Korean won. Korbit stated that it will continue to provide existing services, and user deposits and crypto assets will be managed separately in accordance with the Virtual Asset User Protection Act, with Korbit remaining the data controller for personal information, and the purposes and scope of processing remaining unchanged.

UPBIT will launch trading for o1.exchange (O) on July 23 at 15:00, supporting KRW, BTC, and USDT markets. Users can make deposits within 2 hours after the announcement is released. Please pay attention to subsequent announcements for specific trading support times.

According to Jinshi reports, the CME "FedWatch" shows that the probability of the Federal Reserve maintaining interest rates in July is 65.3%, while the probability of a cumulative increase of 25 basis points is 34.7%. By September, the probability of maintaining interest rates is 22%, the probability of a cumulative increase of 25 basis points is 54.9%, and the probability of a cumulative increase of 50 basis points is 23%.

Fox Business crypto reporter posted on the X platform stating that the bill outlines the rules for handling digital assets in the event of bankruptcy of exchanges or custodians.The bill helps ensure that customer assets receive the same protection as traditional financial assets and remain the property of the customers, rather than becoming part of the company's bankruptcy estate. This could help prevent a situation similar to FTX from occurring again.