唐华斑竹

Medium-sized CEX queues collapse. Based on past experience, this is a sign the bear market is bottoming out. Hang in there, everyone—get through the final drop, get through the darkest night before dawn! The bull market is right ahead! Send out a red packet to boost everyone’s morale. Just leave a comment in the comment section saying “Lao Tang says hang in there,” and you’ll get an airdrop token red packet. I’ll send out 3,800 red packets first; if that’s not enough, I’ll add more. I’ll make sure everyone gets one. Remember to follow me—come by often to claim red packets. #红包 $BNB

Can it be like this?! After a plunge in Korean stocks, funeral wreaths lined up in front of the National Assembly: retail investors demand the abolition of Samsung and SK Hynix leveraged ETFs

On July 29, according to the Korea JoongAng Daily, after Samsung Electronics and SK Hynix’ single-stock leveraged ETFs plunged, retail investors’ dissatisfaction grew. That day, about 30 memorial wreaths appeared in front of the National Assembly building in Yeouido, Seoul, calling for the abolition of the relevant 2x leveraged ETF products.

The report said the wreaths were sent by a group of retail investors, “Meeting for Normalization of the Stock Market.” Their demands include strengthening investor protection and pushing for the removal of the related products. The group believes that Samsung Electronics and SK Hynix’ single-stock leveraged ETFs amplify stock price volatility and also worsen losses for retail investors.

The protest took place amid intense fluctuations in Korean stocks. In the previous trading session, the KOSPI fell by more than 8% at one point, triggering a circuit breaker; single-stock leveraged products tracking Samsung Electronics and SK Hynix also dropped by about 25%. Against the backdrop of a pullback in the AI hardware supply chain and a sharp sell-off among semiconductor leaders, the risks of high-leverage products were rapidly magnified.

Korea’s financial authorities have begun tightening trading thresholds. The Financial Services Commission plans to require that, starting July 31, when individual investors place new buys or add to their positions in single-stock leveraged products, they must hold at least 30 million won in cash as a basic margin. Lee Eung-won, chair of the commission, said industry expectations are that after the measure is implemented, the relevant trading accounts could fall from about 100,000 to around 10,000, and trading volume may drop by about 60%. $SOL

Binance launches European-style gold and silver options, with daily trading volumes for gold and silver perpetual contracts both exceeding $7 billion

On July 29, Binance launched European-style gold and silver options through its Nest Exchange, which is regulated by Abu Dhabi Global Market (ADGM). The contracts are settled in USDT.

Previously, demand for Binance’s gold and silver perpetual contracts was strong, with daily trading volume peaks of $7.77 billion and $7.27 billion, respectively. The new options are available to retail users for buying call and put options, but retail users are not allowed to sell options. Sellers are limited to the exchange and designated market makers.

Binance’s launch of European-style gold and silver options via Nest Exchange, which is regulated by Abu Dhabi Global Market (ADGM), marks the rollout of a specific product following the transfer of its global operations to ADGM. Previously, the daily trading volume peaks for gold and silver perpetual contracts were already $7.77 billion and $7.27 billion, respectively, indicating strong market demand for crypto exposure to traditional assets.

The new options product allows retail users only to buy call or put options, while the selling side is restricted to the exchange and designated market makers. This asymmetric structure keeps risk hedging and complex strategy capabilities primarily in the hands of professional institutions, while opening directional speculation to retail users. This continues the structural trend in the derivatives market of “institution-led, with retail participation,” providing new tools while also clearly defining the boundaries of risk allocation. $BNB

According to K33 Research data, in July the average daily spot Bitcoin trading volume was only about $2.2 billion, the lowest since November 2023. CME open interest is also nearing multi-year lows. This sharply contrasts with the recent market performance of U.S. spot Bitcoin ETFs seeing consecutive net inflows and the price attempting to break through the $68,000 resistance level.

With trading volume shrinking to a nearly two-year low while ETFs continue to accumulate, it suggests the current market is mainly driven by long-term allocation capital, with short-term speculators and leveraged traders having largely exited. The depletion of CME open interest is especially noteworthy, as it has been an important channel for traditional institutions to participate in the derivatives market. The current market structure reflects a fragile balance of “ETF buying provides a backstop, but there is a lack of broad speculative enthusiasm.” If the macro or liquidity environment changes, this low-liquidity condition could amplify price volatility.
On July 29, K33 Research said in a report that over the past week, Bitcoin has continued to trade in a narrow range of $60,000 to $66,000. In July, average daily spot trading volume was only about $2.2 billion. CME open interest is near multi-year lows, and open interest in perpetual contracts has stalled at around 300,000 BTC. Bitcoin’s trading volume in July hit the lowest record since November 2023. $BTC

Netizens’ witty comments: If the eldest son married her, wouldn’t everything be fine?

Three years after the founder passed away, the stepmother and the eldest son kept fighting for control. In the end, both hands lost the power they were fighting for—nothing came of it all, like drawing water with a bamboo basket.

Zheng Yonggang, founder of Shanshan Group, suddenly died in 2023. Before his death, he had not left a will. Soon after, Zheng Ju, the eldest son, and his widowed wife, Zhou Ting, launched a control-rights battle that lasted for more than two years.

Zheng Ju had spent many years gaining experience within the group early on and was the first to be promoted as chairman of the listed company. Zhou Ting sued in her capacity as the guardian of three minor children, and the two sides faced each other in court. After a brief period of joint governance, Zheng Ju stepped down in 2024 and Zhou Ting took over the company.

The ongoing infighting triggered a credit crisis. Banks repeatedly called in loans, and Shanshan Group’s 33.5 billion yuan debt risk fully surfaced. In 2025, it entered bankruptcy reorganization. In 2026, a state-owned consortium such as Anhui Wuwei Group contributed more than 7.1 billion yuan to take over the controlling rights. By July, the board was reorganized, and both Zheng Ju and Zhou Ting exited.

The shares of Shanshan held by Zheng Ju were wiped out through judicial auctions, and he was also listed as a dishonest person subject to enforcement due to his debts. After years of fighting, both ultimately lost control of the company. The Zheng family finally fully handed over Shanshan shares. $SOL

It seems that, except for people in the system and ultra-wealthy families, everyone has a chance to deliver food. Men after 40 are really in a hard spot $SOL

After Jia Yueting’s FF went through its reverse stock split, the 1st day fell 39%, the 2nd day fell 20%. Today is the 3rd day, and so far it’s also down 20%. If it keeps falling at this pace, what would happen? If it falls below 1 yuan again, is there still a 180-day grace period? $SOL

Binance USD1 Airdrop Delayed Again! Don’t Miss Your Chance to Earn While You Wait

New deadline: August 7. Total reward pool: 165 million $WLFI . There’s just over a week left—if you haven’t boarded yet, act fast.

Participation is very simple—just hold USD1 in your Binance spot, savings, margin, or futures account to automatically be included in the airdrop distribution. No lock-up required, no staking required—just hold.

Based on current data, the annualized return is estimated to be around 5.56%. Leaving your stablecoins untouched can earn you this return—honestly, that’s pretty high.

There’s also a hidden buff. If you place USD1 in your futures or margin account and maintain at least 300 USD1 in contract open interest (OI) every day, you can get a 1.2x reward bonus.

The most comfortable part is that your USD1 doesn’t get locked. For people who already keep stablecoins on Binance, it’s like holding your stablecoin while also getting an extra $WLFI rewards.

#USD1 #WLFI $USD1 #dyor $WLFI

Binance will delist multiple margin trading pairs on July 30, 2026
According to an official announcement, Binance Margin will delist cross and isolated margin trading pairs including A/USDC, HIVE/USDC, ILV/USDC, NEWT/USDC, MOVE/USDC, and more at 06:00 (UTC) on July 30, 2026. Effective immediately, users will not be able to transfer assets into these isolated margin accounts via manual transfers or automated transfer modes. At 06:00 (UTC) on July 28, Binance will suspend the lending service for the above isolated trading pairs. Users are required to close positions or transfer assets to the spot account before July 30.$A

It’s normal that Koreans are not optimistic about Chinese companies.
Are Korean users the main force behind shorting Changxin Memory Technology? And while addresses in the US and between the US and China generally look bullish

On July 27, according to Allium data, on the eve of Changxin Technology’s listing, wallets attributed to CXMT on Hyperliquid showed: overall, wallets in the US, China Hong Kong, and mainland China were net long, while wallets tagged as South Korea became the leading shorting force in this sample.

Among them, the South Korea–tagged wallets held about $760,000 worth of short positions, with a short size about 38 times that of the long positions; Taiwan-tagged wallets were also bearish, with net shorts of about $329,000.

On the long side:

US-tagged wallets: held $1.60 million in long positions and $345,000 in short positions, for net longs of about $1.255 million;

China Hong Kong–tagged wallets: held $1.30 million in long positions and $431,000 in short positions, for net longs of about $869,000;

Mainland China–tagged wallets: held only $83,000 in long positions and $16,000 in short positions, for net longs of about $67,000.

If we assume that the South Korea–tagged wallets’ $760,000 shorts were all opened before the market opened, opened uniformly at $6.48, with no further rebalancing after that, and that everything is calculated using 1x leverage, then the theoretical mark-to-market unrealized loss on the shorts would be about $48,500, with a loss rate of about 6.4%.

Note: According to Allium documentation, about 25% of Hyperliquid addresses in its overall address database can be attributed to a country. The actual coverage rate and confidence distribution for this CXMT sample were not disclosed. Regional tags are inferred from on-chain linkages, sources of funds, and active time zones, etc., and do not equal the holder’s true nationality or real-time location. OI does not represent the number of traders either.$SOL

Do you still need to pay back the 150 million you went bust with? At 26, what’s there to be afraid of—once you’re out, you’re still a hero.
A 26-year-old Hong Kong trader misappropriated HK$50 million to gamble on a double-leveraged Hailix ETF, blew a loss of HK$150 million, and was arrested

On July 27, a 26-year-old trader in Hong Kong allegedly misappropriated HK$50 million from the company without authorization as margin. He used financing to apply leverage and buy the Southern Dongying two-times long Hailix ETF. In the end, due to a sharp drop in the underlying asset, his paper loss reached as much as HK$150 million. He has now been detained by the police on suspicion of theft.

It’s understood that between January 9 and July 20 this year, the trader carried out the above transactions. Using HK$50 million in principal combined with margin financing, he leveraged capital amounting to several hundred million Hong Kong dollars to bet on Hailix’s rise. However, because the ETF itself is a two-times leveraged product, the financing leverage and the ETF leverage compounded, further amplifying the risk.

Public data shows that the Southern Dongying two-times long Hailix ETF, driven by stored-chip market sentiment, rose to a historical high of HK$193.65 by the end of June. Then, the semiconductor sector pulled back, and as of July 20, it had fallen to HK$52.58—a cumulative drop of more than 72%.

At present, the positions involved have not yet been forcibly liquidated, so the final loss may still grow further with market fluctuations. The incident has drawn attention within the financial circle in Central, and some clients of related brokerages have reportedly opted to withdraw funds to avoid risk due to concerns.

It is understood that Wealth Management Services Limited, the company involved, is not a licensed entity with the Hong Kong Securities and Futures Commission. Wealth Securities, which is also under the same Wealth Group, has issued a statement saying that the individuals involved are not its employees, and that the incident is unrelated to Wealth Securities. $BNB

Still Binance, huh!
Data: Since June, 77 crypto trading platforms have seen net outflows of nearly $1 billion, and Binance bucked the trend with a net inflow of $36.9 million

On July 27, according to CoinDesk Research data, since June, capital has continued to flow out of the crypto market. Globally, the 77 trading platforms combined recorded net outflows of nearly $1 billion. Meanwhile, as of early July, Binance still logged a net inflow of $36.9 million, making it one of the few centralized exchanges to maintain net capital inflows.

During periods of heightened market volatility, users have increased their focus on exchanges’ asset reserves, liquidity, and risk management capabilities. Both Binance USDT and USDC reserve ratios have remained above 100%, and their reserve status can be publicly verified; its SAFU security fund, with a scale of around $1 billion, is also held in wallets that can be publicly checked on-chain.

In addition, despite a decline in overall trading volume, Binance still maintains about a 24% spot market share, a 36% share in the perpetual futures market, and roughly a 55% share of reserves among centralized exchanges.
Since June, market capital has continued to flow out from centralized trading platforms. The 77 platforms combined have recorded net outflows of nearly $1 billion, highlighting how sensitive users are to asset safety and compliance during volatile periods. Against this backdrop, Binance recorded a net inflow of $36.9 million; its reserve ratio has stayed above 100%, and the publicly disclosed SAFU fund size is about $1 billion. These figures reinforce the narrative that it serves as a safe haven.
Despite a slowdown in overall trading volume, Binance still accounts for about 55% of centralized exchanges’ reserve assets. This proportion is far higher than its 24% spot market share, suggesting that a large amount of assets is sitting there rather than being used for active trading. This may point to a deeper trend: in times of market uncertainty, leading platforms are becoming de facto “on-chain custodial banks.” The concentration of their reserve-asset share may reflect the real power structure in the industry more than trading share can.$BNB

Are the U.S. military not following the president’s orders as much anymore? Trump is in a difficult spot
The U.S. military pauses strikes on Iran: the top commander says the operation has reached its effectiveness ceiling, leaving Trump facing a choice between escalation or diplomacy

On July 27, U.S. Central Command chief Brad Cooper said the U.S. military’s current military actions against Iran have reached an “effectiveness ceiling,” and he recommended stopping bombing Iranian targets around the Strait of Hormuz.

Reports say Cooper’s assessment influenced President Trump’s decision to pause military action. Since last Friday, the U.S. has not carried out any new attacks, and Iran has also paused military actions targeting sites in the Gulf region.

It is understood that the U.S. had previously launched strikes on Iran for nearly two weeks, significantly weakening Iran’s military deployments around the Strait of Hormuz. At the same time, U.S. Chairman of the Joint Chiefs of Staff Gen. Dan Kearns said the inventory of U.S. intercept missiles is declining, which could affect the ability to protect U.S. and allied positions.

U.S. Ambassador to the United Nations Michael Woltz said the ceasefire is intended to “make room for diplomacy.” He said Trump previously tried diplomatic approaches and now hopes to give negotiations another chance.

Meanwhile, according to CBS, Iranian officials are negotiating with Oman over restoring the ceasefire agreement, and progress has been made on reopening the Strait of Hormuz.

At the same time, the U.S. and the U.K. plan to hold a high-level meeting to discuss forming an international coalition to ensure safe shipping through the Strait of Hormuz. Axios reported that the meeting is expected to be held in London, and that U.S. Defense Secretary Hegseth, Gen. Dan Kearns, and other officials may attend.

However, some countries say they will only consider joining the escort coalition after fighting around the Strait of Hormuz has stopped. The Trump administration still faces key choices: whether to continue escalating militarily, maintain the ceasefire, or push for a diplomatic solution. $BTC

Changxin Technology’s Pre-IPO Pricing Precision: the trade.xyz team was quite astonished

On July 27, trade.xyz founder @sershokunin stated on the X platform that Changxin Technology (CXMT)’s Pre-IPO price discovery experiment on trade.xyz produced results better than expected.

Later, team member @0xmev revealed that CXMT’s Pre-IPO market price almost perfectly matched the spot opening price. The accuracy of the price discovery results even exceeded the team’s own expectations, which left them surprised. $CXM.US

Just watched Mom’s post and was shocked to find that BitMEX, BitMax, and BitMart—these three CEXs—went bankrupt one after another, and their names are oddly similar! Could it be some kind of metaphysical/occult “science” at work? So I asked DeepSeek to analyze the fortune—good or bad—of the “BitM” prefix in the names of the three exchanges before they went under. The result was actually: “On the surface, slightly good luck, but hidden within, major bad luck!” This AI is really damn accurate! Looks like everything is destined by heaven $BB