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The financial company focused on Bitcoin asset management, Bitcoin Treasury Capital ($BTCB), has been approved to list Sweden's first Bitcoin-backed preferred shares (BTC PREF) on the Spotlight stock market, with the first trading day expected to be July 20. This product offers a 10% annual dividend.

The international authoritative consulting agency IDC released the "2025 China AI Programming Market Share Report." The report shows that the scale of China's AI programming market will reach 399 million yuan in 2025, and it is expected to grow rapidly to 1.173 billion yuan by the end of 2026.In terms of market competition, Alibaba ranks first with a market share of 47.6% thanks to its core AI programming product Qoder, a figure that exceeds the combined market shares of the second to fifth ranked companies.IDC analysts pointed out that AI Coding is evolving from a mere "code generation tool" into a "software productivity platform" that covers the entire software lifecycle. Currently, Alibaba's Qoder product line has served hundreds of thousands of enterprises including China FAW, CITIC Securities, and AsiaInfo Technologies, with over 5 million users globally.

The domestic DRAM storage chip leader Changxin Technology (688825) has officially opened for new stock subscription. Due to the large issuance scale, this new stock offering has rarely seen a "sunshine market" trend. Institutions predict that the online winning rate will soar to 0.3% to 0.7% (with a neutral expectation of about 0.45%), reaching 10 to 20 times that of ordinary Sci-Tech Innovation Board new stocks. Calculations show that the probability of winning for a single account with an average market value of 200,000 in the Shanghai market is as high as about 18%, and theoretically, an average market value of 1 million can reliably secure 1 winning ticket.The issuance price of the stock is 8.66 yuan per share, and to secure one winning ticket (500 shares), a payment of 4,330 yuan is required. The official winning rate and results will be disclosed on July 17 and July 20 (Monday) respectively, and winners must ensure sufficient funds in their accounts by 16:00 on the 20th. Various institutions have given a neutral expectation, as Changxin Technology's market value is expected to reach 2 trillion to 3 trillion yuan after listing, with the profit margin for a single winning ticket expected to be around 20,000 yuan.If Changxin Technology fully exercises the green shoe mechanism, the total fundraising amount will reach 66.607 billion yuan, setting a new record for the largest IPO on the Sci-Tech Innovation Board, and it will also become the third largest IPO in A-share history. Financial data shows that the company has fully turned a profit, with expected operating revenue in the first half of 2026 reaching 110 billion to 120 billion yuan, and net profit attributable to the parent company reaching 50 billion to 57 billion yuan. The total amount of this strategic placement exceeds 14.4 billion yuan, successfully attracting social security funds, pension funds, as well as 30 major industry terminal giants such as Alibaba Cloud, Tencent, Meituan, and Xiaomi.

On Tuesday, ARK Invest, led by Cathie Wood, invested approximately $13.9 million to increase its holdings by 220,000 shares of Circle stock, having purchased over 725,000 shares in July, despite the stock having fallen about 76% from its IPO peak.

Bitcoin Treasuries.NET posted on platform X that The Smarter Web Company has completed a $282 million capital reduction, which is an important step in advancing the issuance of the UK's first Bitcoin-backed perpetual preferred shares, which have a maximum dividend payment capacity of $178 million.

Changxin Technology (688825.SH) announced that the company will conduct its initial public offering and list on the Sci-Tech Innovation Board, with an issue price of 8.66 yuan per share. Investors are requested to subscribe online and offline at this price on July 16, 2026 (T day), with no need to pay subscription funds at the time of application.Among them, the offline subscription time is from 9:30 to 15:00, and the online subscription time is from 9:30 to 11:30 and 13:00 to 15:00. The total number of initial shares issued is 66,880,886.08 shares, accounting for approximately 10.00% of the total share capital after issuance, and granting CICC an over-allotment option not exceeding 15.00% of the initial shares issued.The price corresponds to a diluted price-to-earnings ratio of 308.92 times for 2025, based on the lower of pre- and post-deduction earnings (without exercising the over-allotment option), which is higher than the industry average price-to-earnings ratio of 76.32 times and the average price-to-earnings ratio of comparable companies of 134.62 times. The total amount of funds raised is expected to be approximately 57.919 billion yuan (before the exercise of the over-allotment option), with a net amount of approximately 57.638 billion yuan after deducting issuance expenses.

SK Hynix has recently continued to decline, triggering an increase in the activity of related derivatives markets. According to the RootData perpetual contract data panel, Binance, OKX, and Bitget rank in the top three for SK Hynix (SKHYNIX) contract open interest, collectively accounting for approximately 87.8% of the market share. Among them, Binance has an open interest of about $422 million, OKX about $93.21 million, and Bitget about $54.08 million.In terms of trading volume, Binance leads with a 24-hour trading volume of approximately $3.68 billion, followed by OKX with about $954 million and Bitget with about $414 million. Regarding price spreads, Binance has the smallest spread at 0.0008%, while XT.com has the largest spread at 0.2004%.It is reported that RootData has recently officially launched a ranking of stock perpetual contract exchanges, which directly collects primary data through the exchanges' official APIs and public market data sources, aiming to establish a reliable data benchmark for investors. Currently, the RootData data submission channel is open, supporting exchanges with stock perpetual contract business to submit official APIs and supplementary data.

According to BBX data, the cryptocurrency market was under short-term pressure yesterday due to geopolitical shocks, but institutional capital flows showed a clear divergence from price trends. The core dynamics are as follows:BlackRock, Inc. (NYSE: $BLK) subsidiary iShares Bitcoin Trust (NASDAQ: $IBIT) experienced a decline in Bitcoin on July 13 due to the renewed tensions between the U.S. and Iran (with $253 million in leveraged positions being liquidated). However, according to CoinDesk's daily report, ETF capital flows maintained a net inflow trend, continuing the trend of capital returning after breaking a 10-day net outflow streak on July 4. On July 4, the single-day net inflow reached $221.7 million, the largest in nearly two months, with Fidelity FBTC attracting $166 million in a single day and ARK Invest ARKB attracting $91.8 million. Subsequently, IBIT exhibited a structural divergence of "price decline but no significant capital outflow" amid macroeconomic uncertainty, interpreted by analysts as a signal of institutional capital continuously accumulating at the bottom of the range rather than panicking. Today's June CPI will be announced at 8:30 AM ET; if inflation is lower than expected, it will provide the most direct macro trigger for a new round of daily net inflows into IBIT. Breaking the $64,000 resistance level for BTC will be a key technical node for the market to confirm a bottom rebound and for institutional capital to accelerate its return to IBIT. CryptoSlate analysis points out that this level is the starting point for "retesting the June 15 high of $67,250."SoFi Technologies, Inc. (NASDAQ: $SOFI) subsidiary SoFiUSD stablecoin (launched on May 27 as the first built-in stablecoin by a national bank in U.S. history, covering approximately 14.7 million members and supporting Ethereum and Solana chains) is facing a critical timeline for the implementation of the GENIUS Act: regulators must establish specific compliance guidelines for the customer identification program (CIP) rules in the GENIUS Act by July 18, 2026, determining which stablecoin issuers can legally operate within the U.S. This deadline is only 4 days away------if the CIP rules are implemented on time, SoFiUSD, as a stablecoin directly issued by a national bank regulated by the OCC (SoFi Bank, N.A.), is expected to automatically obtain the clearest compliance recognition, compared to Tether (USDT, registered in the British Virgin Islands) which has a first-mover compliance advantage under the U.S. regulatory framework; if the CIP rule details are vague or delayed, it will create short-term regulatory arbitrage opportunities for all non-bank stablecoin issuers. SoFi's Q1 cryptocurrency trading revenue was $121.6 million, with a net income of $852,000 after deducting costs from the cryptocurrency department.

According to data from The Block, the trading volume of Hyperliquid's permissionless perpetual contract framework HIP-3 has risen from about 2% at the beginning of the year to approximately 50% currently, in line with the growth in retail demand for on-chain stock trading.This category is dominated by TradeXYZ, which operates XYZ100 (tracking the Nasdaq 100 index) and individual stock contracts for companies like Nvidia and Tesla, all settled in stablecoins rather than the underlying stocks. Compared to traditional options, perpetual contracts avoid time value decay, requiring only the payment of funding rates with no expiration date, making it more intuitive for retail traders accustomed to simple long and short operations.24/7 trading is another core selling point, allowing traders to react instantly to news or earnings reports without waiting for the market to open. However, the underlying stocks are still only traded during market hours, and outside of trading hours, HIP-3 prices rely entirely on oracles and funding rate mechanisms for anchoring, which has not been fully validated compared to native 24/7 assets like cryptocurrencies.

According to The Block, Mizuho Bank analysts pointed out that Circle has received approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank. While this helps enhance its compliance reputation, it is not enough to address the current core pressures—namely, the continuous shrinkage of USDC's market value and the increasingly fierce competition from Open USD, which still poses a significant drag on the $CRCL stock price.

According to CoinDesk, Binance.US CEO Stephen Gregory stated that the exchange is in a rebuilding phase after two years of regulatory setbacks, aiming to reclaim 20% of the U.S. cryptocurrency market share. Binance.US plans to attract customers back with ultra-low fees, new regulated products, and deeper liquidity.Over the past two years, Binance.US has been affected by multiple regulatory lawsuits and enforcement actions, leading to a significant decline in its market share in the U.S. The exchange was previously one of the largest cryptocurrency trading platforms in the U.S., once holding about 20% of the U.S. market share at its peak in 2022. The current management of Binance.US stated that the company will focus on compliant operations and launch a new product line that meets U.S. regulatory requirements to rebuild user trust. Binance.US is the independent operating entity of the Binance Group in the U.S., completely separate from the global Binance platform in terms of operations and legal entities.

According to SEC filings, Strategy sold approximately 4.82 million shares of MSTR stock through the ATM (At-The-Market) program during the week ending July 12, raising a net amount of about $466.7 million.During the same period, Strategy did not make any Bitcoin purchases, maintaining its holdings at 843,775 BTC, with a total cost of approximately $63.69 billion based on an average purchase price of $75,476.In addition, Strategy disclosed that the company did not conduct any stock buybacks from July 6 to July 12, and as of July 12, cash reserves were approximately $3 billion.

According to SEC filings, Strategy sold approximately 4.82 million shares of MSTR stock through the ATM (At-the-Market) program during the week ending July 12, raising a net amount of approximately $466.7 million.During the same period, Strategy did not make any Bitcoin purchases, maintaining its holdings at 843,775 BTC, with a total cost of approximately $63.69 billion based on an average purchase cost of $75,476. Additionally, Strategy disclosed that the company did not conduct any stock buybacks from July 6 to July 12, and as of July 12, cash reserves were approximately $3 billion.

Zhipu (02513.HK) announced on the Hong Kong Stock Exchange that the company previously disclosed a plan to place up to 19.78 million new H shares, which has now been completed on July 13, 2026. A total of 19.78 million new H shares were issued and allocated to no less than 6 subscribers at a placement price of HKD 1588 per share, accounting for approximately 4.25% of the total issued H shares after expansion.The total amount raised from the placement is approximately HKD 31.411 billion, with a net amount of approximately HKD 31.375 billion, intended for research and development of general artificial intelligence, business expansion, and optimizing the capital structure.

According to Bloomberg, the stock price of American Bitcoin, co-founded by Eric Trump, has fallen over 95% from its peak, with the market value of his approximately 6% stake shrinking by more than $600 million over the past 10 months.The company implemented a 1-for-15 reverse stock split this week to maintain its Nasdaq listing qualification, with the stock price hitting a record low on Wednesday. American Bitcoin continues to adhere to its Bitcoin mining and accumulation strategy, adding another 500 BTC on Monday, bringing its holdings to over 8,000 BTC; in the first quarter, it recorded an impairment of $117.2 million on its Bitcoin reserves, resulting in an operating loss of $118.2 million.

Ripple CEO Brad Garlinghouse stated that after the SEC sued in 2020, he and co-founder Chris Larsen seriously considered shutting down the company and distributing their XRP holdings to shareholders. Garlinghouse mentioned that they chose to fight the SEC instead of closing the company, a decision that preserved hundreds of jobs but resulted in Ripple paying about $150 million in legal fees over four years.Ripple ultimately won the case after a federal judge ruled that XRP itself is not a security. The case was settled last year after changes in SEC leadership, with the new leadership taking a more lenient stance on cryptocurrency.

MINIMAX (00100.HK) announced that it will raise approximately HKD 16.041 billion through the placement of new shares and the issuance of zero-coupon convertible bonds. According to the announcement, the company will place 35.6 million new Class A shares at HKD 268 per share (approximately a 9.89% discount to the closing price of the previous trading day), expecting to raise about HKD 9.541 billion; at the same time, it plans to issue zero-coupon secured convertible bonds with a total principal amount of HKD 6.5 billion due in 2027, with an initial conversion price of HKD 335 per share (approximately a 12.64% premium to the closing price). Morgan Stanley and UBS are acting as arrangers for this transaction, and the placement and bond issuance are independent of each other and not conditional upon one another. If all the bonds are ultimately converted into shares, the two transactions will add up to approximately 55 million shares, accounting for nearly 15% of the company's expanded total share capital. Regarding the use of funds, MINIMAX stated that about 80% of the net proceeds are intended to strengthen AI infrastructure and model development, 10% to accelerate the global commercialization of products, and the remaining 10% for working capital and general corporate purposes.

According to the Science and Technology Innovation Board Daily, MiniMax founder and CEO Yan Junjie issued an internal letter to all employees, responding to recent market fluctuations and emphasizing that the company's long-term direction remains unchanged. In the letter, Yan Junjie announced that starting today, until the day the company achieves AGI, he will no longer receive any salary from the company. Over the next four years, he will allocate personal shares equivalent to 4% of the company's total equity to incentivize team members who work alongside the company to create value together; at the same time, he will set aside 1% of the shares to establish a special fund to continuously support the development of relevant open-source communities.

According to informed sources, Tencent is in talks to become the largest shareholder of the AI entity company Manus.Most existing investors, including Tencent, ZhenFund, and Sequoia China, are discussing supporting a deal with a valuation of $2 billion to withdraw Meta's acquisition.

According to BBX data, yesterday the global US stock market and companies listed on the Tokyo Stock Exchange made significant moves in the accumulation of digital asset reserves. The latest updates from two core companies are as follows:GPUS core treasury breaks the 1,000 mark: Artificial intelligence data center company Hyperscale Data, Inc. (NYSE American: $GPUS) officially announced that the number of bitcoins held in its treasury has officially exceeded 1,000. Management stated that the company will continue to closely align with market conditions and existing capital allocation opportunities, supported by its core data center business, to continuously manage and expand its bitcoin reserve scale.Metaplanet raises $137 million through targeted private placement: Metaplanet Inc. (TSE: $3350) announced that it will issue new shares to specific institutional investors through the Third-Party Allotment mechanism under Japanese securities law, aiming to raise approximately $137 million (equivalent to 21.4 billion yen), with all funds to be used for purchasing bitcoin. The company accumulated 2,823 BTC in Q2 this year, and as of June 30, its total holdings have reached 43,000 BTC (valued at approximately $2.67 billion). Based on the current market price of about $62,000 per coin, this lightning private placement is expected to add approximately 2,210 BTC to its reserves, helping it strive towards its ultimate goal of 100,000 BTC by the end of the year.