Jacky 傑克_JBitLog 幣誌

Binance made headlines because it was only added to the industry’s warning list on 8/10, but in the survey report dated 8/20, it directly became Taiwan’s most trusted exchange.
According to a survey by the China Credit Information Service (CRIF) published on August 20 (a study on future development and regulatory mechanisms for the virtual asset industry in Taiwan), the survey interviewed 1,200 individual investors and 400 corporate decision-makers.
Among the individual respondents who have experience trading virtual currencies, Binance (Binance) received 31.5% for the "most frequently used trading platform" and 51.5% for the "most trusted trading platform"—both were the top results.

On August 18, South Korea’s communications and broadcasting regulatory body issued a ruling ordering network operators within the country to directly block the prediction market platform Polymarket. The reason given was that it violates Article 246 of the South Korean Criminal Act and is considered a venue that offers gambling.
Additional context: Polymarket is a U.S. platform that lets people bet on “future events” using cryptocurrency. You can buy outcomes ranging from who will win an election to the score of a sports match. Before restrictions were rolled out in various countries, more than 100 countries were able to use it.
Polymarket, in its defense, argued that it had already removed the Korean-language interface and does not accept payments in South Korean won, so South Korean law should not apply to it. However, the South Korean authorities rejected this claim, saying that a company cannot evade a country’s laws based on technical characteristics or the way it provides services.

The U.S. Department of the Treasury issued a draft rule regarding the (GENIUS Act) on August 17, and it was officially published in the Federal Register the next day, opening a public comment period until October 19. This draft is intended to address the third core issue of the (GENIUS Act): who is eligible to issue and sell stablecoins in the United States.
In particular, the original wording of the draft defines “issuing in the United States” very narrowly, with only two situations counting: the issuer itself is in the United States, or it sends these stablecoins to people within U.S. territory.
So foreign companies headquartered in places like Tether (the issuer of USDT)—as long as they do not actively sell to Americans—are not considered to be in violation.

Strategy (formerly MicroStrategy), the publicly listed company that holds the most Bitcoin globally, filed its latest Form 8-K with the U.S. Securities and Exchange Commission (SEC) on August 17, U.S. time.
In the file, the Bitcoin record only has one line of conclusion: during the week from August 10 to August 16, it bought or sold not a single Bitcoin. However, since its last purchase of 520 Bitcoins on 6/21 up to now, it has been a full eight weeks.
Strategy currently holds 840,447 Bitcoins, with an average cost of $75,385 per coin.
And Bitcoin’s current price is about $64,100. In other words, the company in the world that buys the most Bitcoin is also the one that’s in the deepest loss…

Tether completes its first-ever full financial statement audit. KPMG issues the highest-grade “unmodified opinion.” ​ Issuer of USDT, Tether announced on August 13 that it has completed the first full annual financial audit in its history, conducted by KPMG in the United States—one of the Big Four accounting firms—issuing an “unmodified opinion” (Unqualified Opinion) on its 2025 financial statements.
This is the best type of of the five audit opinions available. It means the financial statements were prepared according to the rules, with no material issues found.
The audit scope covers three financial statements: the balance sheet, the income statement, and the cash flow statement. It also includes transaction records, system controls, and ownership documents. ​ The results show that Tether’s reserve assets exceed its liabilities by $6.814 billion, and excess reserves have reached a new high.

Operating the Trump Media & Technology Group, which runs Truth Social, the Trump media technology group filed its latest quarterly report with the U.S. Securities and Exchange Commission (SEC) on August 10 in U.S. time.
It states that, just in the first half of this year alone, its losses on crypto assets reached $360.6 million, which is equivalent to more than NT$11.5 billion. Most of it has not actually been sold; but as long as the coin price falls, the losses must be recognized on the books right away.
And the same report also reveals that the company’s total revenue for the first half was only $2.54 million.

Have you ever thought about who would compensate you if, one day, all the coins you have stored on an exchange were completely stolen?
Global trading volume’s third-largest cryptocurrency exchange Bybit has officially announced that it is suing the North Korean government in a U.S. federal court. The defendants are not only hackers, but the entire North Korean state, the Reconnaissance General Bureau under it, and the Lazarus Group—an organization identified by the U.S. government as a North Korean hacking group.
The reason is that, in the February 2025 North Korean cyberattack on Bybit, losses were about $1.5 billion (around NT$48.3 billion), making it one of the largest thefts in the history of cryptocurrencies.

The Financial Supervisory Commission announced yesterday (8/4) that starting this October, when transferring cryptocurrency through Taiwan-compliant exchanges, for any single transaction exceeding NT$30,000, the transferor must provide their date of birth and home address. The reason is to ensure that the flow of each payment can be traced.
What does NT$30,000 mean in practice? I think this threshold is the amount many retail investors will encounter the first time they buy crypto.
But what really matters isn’t that NT$30,000 limit. Instead, the key point is the regulator’s hardline plan: no matter how much you transfer, your name and the related information for that transfer must be sent together. The “NT$30,000” is only there to require additional details—“birthday and residential address.”

Over the past five weeks, the company that held the most Bitcoin worldwide—Strategy—did not buy a single one. And not only did it not buy; during this period it actually sold 3,588 Bitcoins in reverse. The company’s boss is none other than the Bitcoin guru—Michael Saylor—who has been shouting the slogan “Never sell your Bitcoin” for five years.
According to a report by The Block, last Sunday (8/2), Saylor posted on the X (formerly Twitter) platform the line “Bitcoin Drive engaged,” which the market interpreted as him getting ready to start buying Bitcoin again.

Coinbase, the largest cryptocurrency exchange in the United States, announced its second-quarter earnings yesterday. Net losses for the quarter were about $360 million (approximately NT$11.6 billion), and the stock price dropped 5% that day. In the same quarter, bitcoin’s price fell by about 14% (according to a report by CoinDesk).
On the surface, this looks like a string of bad news for the cryptocurrency market. But if you scroll further down the same earnings report, you’ll find that Coinbase’s market share in this quarter jumped to 10.3%, the highest record since it was founded—and it has been rising for three straight quarters.
Eighty-eight percent of its revenue comes from businesses other than “buying and selling bitcoin.” Just the subscription and services segment brought in $555 million in the quarter alone, accounting for nearly half of total revenue. If you remove asset impairments on the books, the core operations are actually still profitable.

Do you also have stocks in TSMC and the AI supply chain in your hands, or ETFs like 0050 or 00878? If you do, you should have felt the “green lights shining overhead” yesterday…
Because yesterday (7/28), the stock market in neighboring South Korea saw a nearly 11% collapse within a single day.
That day, the South Korean benchmark Kospi closed at 6,023 points, down 10.8% in a single day. During trading, it even briefly fell enough to trigger the circuit breaker mechanism and suspend trading. Leading the decline were two memory-chip leaders: Samsung Electronics fell 13.4%, and SK hynix fell 14.7%.
The fuse was that the market suddenly started to doubt: has the money for this round of AI been burned too much?

Many people often buy a coin. Even if the company hasn’t run into trouble and the overall market hasn’t crashed, one day it suddenly and unexpectedly drops, leaving you bewildered and trapped in a loss.
In reality, more often than not, this kind of situation where it "drops for no reason" is simply because "the time has come"!
For example, one of the most popular recent crypto projects is Hyperliquid (HYPE). Its development team still holds roughly 20% of the coins; to this day, they remain "locked" and have not entered market circulation. This isn’t some insider secret—anyone can look it up on a public unlock data website.
But seasoned veterans in the industry, the moment they see this kind of "unlock date," usually get on high alert right away.

Yesterday (7/22), U.S. Senator Cynthia Lummis released a new 616-page version of a bill: the (Digital Asset Market Clarity Act), also known as the CLARITY Act. It’s a complete substitute version proposed in response to H.R. 3633, which the House passed last year.
If your reaction is, “What are lawmakers in the U.S. arguing about, and what does that have to do with me?”
Then you probably don’t know that there are four bills in here that matter: whether the coin in your hand legally counts as yours or not!
First, let’s talk about what this bill is trying to solve. Over the past few years, the biggest regulatory chaos in the United States has been over the same coin: the SEC (Securities and Exchange Commission) says it’s a security, while the CFTC (Commodity Futures Trading Commission) says it’s a commodity. Each side regulates its own, and platforms don’t know who to listen to.

Many people who just stepped into the crypto world, their first—or only—crypto asset to buy is “Bitcoin.” As for “Ethereum,” the second-largest cryptocurrency by market cap, most people have “heard of it, but always feel that it’s more complex and more dangerous,” so they’ve never really taken it seriously or tried it.
However, according to statistics, from 7/13 to 7/17, Ethereum spot inflows managed to overtake Bitcoin’s at a rare pace. Its ETF recorded about $105 million in net inflows for the week, which is more than the $75.67 million net inflows of the Bitcoin ETF during the same period. The biggest driving force behind this is still the Ethereum fund under BlackRock, the world’s largest asset management company.

Last Thursday (7/16), the most mysterious market maker behind the U.S. stock market, Citadel Securities, invested $400 million (about NT$12.9 billion) to take a stake in the cryptocurrency exchange “Crypto.com,” causing its valuation to jump to $20 billion (about NT$648 billion) in one go.
This is also the first time since Crypto.com was founded that an outside institution’s funds have been allowed to move in.
If your reaction is: “What do I care? A U.S. company is investing in an exchange.”
Then you need to first understand who Citadel is.
Citadel Securities is one of Wall Street’s biggest market makers. In every trade you make in the U.S. stock market, it is almost always behind the scenes. According to statistics, among orders from U.S. retail investors, about 1 out of every 3 trades is matched through Citadel.

Just yesterday (7/16), Morgan Stanley’s U.S. brokerage, E*TRADE, officially opened up access, allowing retail investors to directly buy, sell, and hold cryptocurrencies like Bitcoin and Ether in the “stock trading account.”
If your reaction is: “What does the matter of U.S. brokerages have to do with me?”
Actually, what it breaks is the first hurdle that most people hit when buying crypto. In Taiwan, if you want to buy Bitcoin, you have to leave your familiar securities account and open a separate crypto exchange account—like MAX, Bitdot, or ZONE Wallet.

Think back—haven’t you ever wanted to buy cryptocurrency, but then saw the news massively reporting criminal activities like scams and money laundering, which made you back off and not take things any further?
That awkward feeling of “wanting to get involved, but being afraid of getting scammed” is something a lot of people have.
Just yesterday (7/13), “WebX 2026,” one of Asia’s biggest Web3 conferences, opened in Tokyo. It’s expected to draw about 15,000 people over two days.
Even Japanese Prime Minister Sanae Takaichi personally recorded a video to show support, positioning Web3 as a key national development direction.
But what Taiwanese people should really pay attention to are two bills being pushed behind the scenes in Japan.

In the recent AI frenzy in the Taiwan stock market, many people chased after the Nvidia supply chain, while also putting a bit of money into Bitcoin. So when you see news like “even crypto companies are selling Bitcoin and switching to do AI,” it’s hard not to feel a chill: is the coin over, and should you run first?
According to a CoinDesk report, last Saturday (7/11), Nasdaq-listed company Empery Digital announced that it would sell about half of its Bitcoin holdings—1,400 BTC in total—at a total price of approximately $87.1 million (about NT$2.8 billion).
Cutting nearly 48% of its holdings, Empery Digital now has only 1,514 BTC left. In addition, it has taken down the company’s iconic “Bitcoin Holdings Dashboard” from its official website, arguing that these coins can no longer represent the company’s true value.

Have you ever participated in a company shareholders’ meeting, or voted in a community management committee? In fact, many people have a sense of how it works: the real decisions are usually made by a few major stakeholders who hold the most shares. Whether your vote is cast or not doesn’t really matter.
And in the crypto world, they’ve long claimed they’re different—because they have a proud “decentralized autonomous organization” (DAO) mechanism.
It’s actually an organization with no boss and no board of directors—every decision is laid out on the blockchain, and determined by voting from each person who holds the tokens. In theory, this makes it more open and fairer than traditional companies, and it’s touted as “nobody can ever pull the strings alone.”

Have you ever wondered what would happen if one day a new kind of quantum computer suddenly cracked the encryption technology that currently protects your online banking and every set of your account passwords?
Last Friday (7/4), Vitalik, the founder of Ether—the world’s second-largest cryptocurrency—announced a new development roadmap. He said that over the next 3 to 4 years, Ethereum will “tear down the whole system and rebuild it from scratch.” This is also the largest reconstruction since its last major upgrade.
If your reaction is: “I haven’t bought any cryptocurrency yet—why does a coin update have anything to do with me?”