US Stock MFH Plunges Over 70%, Market Cap Drops to $89 Million
July 22nd: The digital financial technology group Mercurity Fintech Holding Inc. (with the NASDAQ symbol: MFH) saw a plunge of more than 70%, resulting in a market value dropping to $89 million.
Before this, Mercurity Fintech Holding Inc. announced an equity credit agreement worth $200 million with Solana Ventures Ltd. to initiate a digital asset treasury strategy based on the Solana blockchain.
8 minutes ago
U.S. House Representative Accuses Federal Reserve Chair Powell of Perjury Twice
On July 22nd, as per Fox News, U.S. House Representative Anna Paulina Luna has submitted criminal charges to the Department of Justice, claiming that Federal Reserve Chair Powell committed perjury on two occasions.
In the letter, Luna stated: "On June 25, 2025 (it should likely be 2023), Powell gave sworn testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs regarding the renovation of the Eccles Building of the Federal Reserve. During his testimony, he made several materially false statements."
Luna also added: "Furthermore, in a letter to the Director of the U.S. Office of Management and Budget (OMB) Russell Vought, Powell asserted that the change in the project's cost from $1.9 billion to $2.5 billion was insignificant. Nevertheless, the documents reviewed by congressional investigators show that the scope of this project and the cost overrun are not of a minor nature or substance." Perjury is subject to a fine and a maximum prison term of 5 years. (Sina
8 minutes ago
Coinbase: U.S. Users Can Now Legally Participate in Crypto Perpetual Futures Trading on the Coinbase Platform
On July 22nd, Coinbase officially declared that commencing from July 21st, 2025, U.S. users will be able to trade CFTC-regulated perpetual futures through Coinbase Financial Markets (CFM). The largest globally traded derivative product type is about to land on the platform.
Coinbase has mentioned that for several years, U.S. cryptocurrency traders could only observe their international counterparts making use of one of the most popular tools in the digital asset market - perpetual futures. This innovative derivative product provides higher leverage and eliminates the need to handle monthly expiration matters, accounting for 90% of the global cryptocurrency trading volume. Due to a complex regulatory environment, U.S. traders have been unable to participate. Nevertheless, this situation is on the verge of changing.
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Strategy's $739.8 million USD fund added to BTC last week still came from stock sales
On July 22nd, the Bitcoin giant Strategy announced today that it had once again increased its holdings by 6,220 BTC in the previous week. It spent $739.8 million in cash, with an average purchase price of $118,940.
This latest acquisition has raised Strategy's total Bitcoin holdings to 607,770 BTC. The acquisition cost is approximately $43.61 billion, and the average cost per Bitcoin is $71,756. Based on the current market price, the company's Bitcoin reserves are valued at $72 billion, locking in nearly $28 billion in unrealized profits.
It is worth noting that according to the documents released by Strategy, the funds for this BTC purchase mainly came from the sale of MSTR stock. The company sold 1,636,373 shares of MSTR to raise approximately $7.364 billion. The company also disclosed that the remaining funds were obtained through minor sales of shares of STRK, STRF, and STRD, raising a total of $3.9 million.
At the time of this writing, MSTR's stock price is currently at $430.23
8 minutes ago
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