Singapore Fines $21.5 Million to Close $2 Billion Money Laundering Case Involving Cryptocurrency, Cash, and Real Estate

On July 6th, Hong Kong's Financial Secretary Paul Chan stated in an article that "At present, ETPs listed in Hong Kong have their underlying assets linked to a variety of assets such as stocks, fixed-income products, commodities, currencies, and digital assets. The sources of these assets cover the Mainland, the United States, Europe, Japan, South Korea, Southeast Asia, the Middle East, and South America." "ETPs enable issuers to have greater flexibility in selecting underlying assets, product returns, and risk structures, making it easier for them to attract investor interest and hedge risks. They continuously launch new products to meet the constantly changing market trends. For instance, in March of this year, Hong Kong welcomed the first batch of leveraged and inverse products in Asia, including those tracking popular U.S. stocks like NVIDIA, Tesla, Coinbase, and MicroStrategy, with a focus on intraday leverage changes. These products not only enrich the market ecosystem but also

On July 6th, according to multiple U.S. media reports, Elon Musk is hatching a potential move that could transform the U.S. political landscape. It is reported that he is advocating for the establishment of a new political party named the "American Party." In contrast to the traditional third-party's nationwide expansion approach, Musk intends to concentrate his efforts and aim at 2 to 3 Senate seats and 8 to 10 House seats, concentrating on those crucial swing districts. With the influence of the X platform, existing Political Action Committees (PACs), and strong mobilization capabilities, Musk can promptly conduct polls, crowdfund signatures, and organize candidates. Subsequently, Musk made remarks on breaking the two-party monopoly, stating, "To be honest, it's not that difficult."

On July 6th, based on mempool data, a miner mined an empty block at the Bitcoin height of 904263 (indicating that the block only contained the block reward Coinbase transaction), and there was only 29 seconds between this block and the previous one. Mining an empty block is carried out by miners for economic reasons. It is the most rational choice for them. Miners do this to make full use of this time for mining and avoid any conflicts with transactions included in the parent block. This means that miners cannot include any transactions in the block and can only try to mine an empty block.

On July 6th, based on Farside's monitoring data, this week the net inflow of the Ethereum spot ETF in the United States amounted to $2.191 billion.

On July 6th, the on-chain analysis platform Arkham published an article on the X Platform, stating that the ancient whale that previously moved more than 80,000 BTC may have carried out the migration operation due to an address upgrade, transferring addresses beginning with "1-" to addresses starting with "bc1q-". Up to now, there is no evidence indicating that this ancient whale is selling its Bitcoin.

On July 6th, David Hoffman, a co-founder of Bankless, posted on the X platform, indicating that Ethereum's continuous emphasis on trust neutrality and the minimization of MEV (Miner Extractable Value) could bring additional benefits for its adoption in the Traditional Finance (TradFi) sector. He pointed out that blockchains such as Robinhood that use a single sequencer do not have an illegal MEV problem. However, Ethereum's investment in fair MEV infrastructure is equivalent to "compliance" efforts in traditional finance. This investment could become a key factor for traditional financial institutions to choose Ethereum over other blockchains, further enhancing Ethereum's competitiveness in terms of compliance and technical credibility.