Bitpush Weekly Web3 News Selection:
【 Galaxy Digital Represents Early Investors in Completing a Sale of 80,000 Bits, Market Value Exceeding $9 Billion】
Global digital asset and data center infrastructure leader Galaxy Digital Inc. (NASDAQ: GLXY / Toronto Stock Exchange: GLXY) announced today that it has successfully completed one of the largest Bitcoin transactions in cryptocurrency history on behalf of a client.
Galaxy completed a sale of over 80,000 Bits for an early Satoshi-era investor, with a total value exceeding $9 billion at current market prices. This transaction represents one of the earliest and most significant exits in the digital asset market, as part of a broader estate planning strategy for the investor.
【Tether CEO: Plans to Launch Institutional Stablecoin, US Market Progressing "Smoothly"】
Tether CEO Paolo Ardoino stated in a Bloomberg TV interview that the company's plan to enter the US institutional stablecoin market is "progressing smoothly". Previously, Ardoino attended the ceremony where President Trump signed the GENIUS Act, which established a federal regulatory framework for US stablecoins.
Ardoino revealed that Tether plans to announce specific details for the US institutional market in the coming months. In April, the company had stated it would launch a new stablecoin for institutional clients, focusing on rapid settlement services. Currently, Tether's USDT is the world's largest stablecoin, with a total market value of $162 billion.
Notably, the GENIUS Act requires stablecoins to be fully backed by US dollars or similar liquid assets, with annual audit requirements for issuers with a market cap exceeding $50 billion. Facing competition from traditional financial institutions like JPMorgan and Bank of America, Ardoino acknowledged these competitors might perform "better in the short term" but emphasized Tether's technological advantages and deeper market understanding.
Additionally, Tether recently hired Simon McWilliams as CFO to drive efforts towards obtaining audits from the Big Four accounting firms. Ardoino stated this is the company's "top priority". When asked if they would go public like competitor Circle, he explicitly denied it.
【SEC Chair: Considering Launching Crypto Innovation Exemption Policy to Encourage Token Ecosystem Development】
According to Bloomberg, SEC Chair Paul Atkins stated that after the US House of Representatives passed a milestone stablecoin bill earlier this week, the SEC is weighing whether to introduce an innovation exemption to encourage market progress in tokenization.
He said at a press conference that SEC staff are considering potential adjustments within the existing regulatory framework to promote tokenization, including establishing an 'innovation exemption' that would allow new trading methods and facilitate key components of the tokenized securities ecosystem through more targeted exemptions.
【Trump Media Group Announces Bitcoin Assets Reaching Approximately $2 Billion】
Trump Media announced that its Bitcoin assets have reached approximately $2 billion, representing two-thirds of the company's approximately $3 billion in liquid assets. The strategy is supported by $3 billion in liquid funds, with an additional $300 million allocated to Bitcoin-related options that may be converted to spot Bitcoin in the future.
【Strategy Plans to Increase Financing from $500 Million to $2 Billion for Bitcoin Purchase】
According to market information, Strategy plans to increase its financing from $500 million to $2 billion for Bitcoin purchase.
【Christie's Launches First Crypto Real Estate Department, Specializing in Crypto Mansion Acquisition Services】
According to The New York Times, Christie's International Real Estate has established a new department specifically handling property transactions accepting cryptocurrency payments. The company currently has mansions worth over $1 billion open to crypto payment offers.
The new department was inspired by recent large-scale crypto real estate transactions, including a $65 million Beverly Hills property transaction completed in cryptocurrency. The department has a specialized team of lawyers, analysts, and crypto experts aimed at processing crypto payments without intermediary bank involvement. Christie's Southern California CEO Aaron Kirman revealed they have conducted transactions where sellers were unaware of buyers' identities, but lawyers verify the legality of fund sources.
The property portfolio accepting cryptocurrency payments includes the "Invisible House" in Joshua Tree, known for its reflective wall design. Kirman predicts that cryptocurrency might account for over one-third of US residential property sales within five years.
【Sources: Prediction Market Platform Polymarket Considering Launching Own Stablecoin】
According to Coindesk sources, crypto prediction market platform Polymarket is evaluating the possibility of issuing its own stablecoin. The platform is currently valued at over $1 billion.
Sources indicate that Polymarket is considering issuing a stablecoin to capture the interest earned from USDC reserves on its platform. Currently, platform users must use Circle's USDC for betting, with interest from related fund reserves going to Circle.
Insiders suggest that as Polymarket is a closed ecosystem, the technical barriers to issuing a stablecoin are relatively low, requiring only the ability to exchange USDC with its own stablecoin without handling complex fiat currency entry and exit processes.
A Polymarket spokesperson responded that decisions about the stablecoin have not been finalized. Data shows the platform processed about $8 billion in bets during the last US election and had 15.9 million visits in May.
Notably, the US stablecoin regulatory bill passed last week has made stablecoin issuance more attractive to crypto companies. Simultaneously, Circle is establishing revenue-sharing agreements with multiple exchanges and fintech companies to maintain USDC's market competitiveness.
【Approximately $1.9 Billion in ETH Queuing to Exit Ethereum PoS Network, While $1.3 Billion in ETH Queues to Join】
According to The Block, data shows that the Ethereum validator exit queue has surged in the past week, with approximately 521,000 ETH (about $1.9 billion at current prices) waiting to exit the Ethereum network. ETH exit requests have significantly increased since July 16, with exit waiting times extended to 8-9 days, the longest since early 2024. Simultaneously, over 359,500 ETH (about $1.3 billion) is queued to join the network, with an expected activation delay of about 6 days.
This situation reflects two opposing market forces: some stakers may be taking profits after Ethereum's 162% rebound from its April low, leading to a surge in exit queues; conversely, new inflows driven by regulatory favorability and institutional demand are pushing entry queues, with listed companies like SharpLink Gaming and BitMine Immersion increasing ETH holdings and staking.
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