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Storj Files for Bankruptcy Restructuring, Early Debt Is the Main Cause

Storj, a veteran in decentralized storage, has decided to file for bankruptcy restructuring. The goal is to properly address historical debts while keeping day-to-day operations and customer service running normally. Despite efforts to streamline and cut costs, the company has still been weighed down by early legacy debts.

In 2025, Inveniam acquired Storj, promising to support its storage and computing ecosystem. However, just nine months later, Storj was forced to enter bankruptcy restructuring, and the capital support failed to resolve the debt crisis.

For holders of $STORJ , the restructured company may open up equity to management, the community, and token holders, but the specific details remain unclear. Will this become a turning point for holders?

What impact will bankruptcy restructuring have on the decentralized storage market?#加密货币 #Regulatory Updates

What’s going on? Two companies founded by the same individual are seeing completely different market performances!

On July 27, Changxin Technology made its debut listing and surged 531.06% above the issue price on the first day, with its market value climbing to about 3.7 trillion yuan. However, on the same day, another company founded by Zhu Yiming—MegaChips—hit the daily limit down intraday, with a midday drop of 5.53%. With the same founder and the same underlying line of memory chips, such extreme performance is hard to believe.

Changxin Technology’s success is not accidental. As the largest domestic integrated DRAM manufacturer, Changxin Technology’s fund-raising amount set a new record for the STAR Market. Meanwhile, MegaChips’ decline reflects the market’s renewed assessment of it as a beneficiary of Changxin’s listing. MegaChips holds only about 1.8% equity in Changxin. After Changxin was officially listed, capital shifted from a concept mapping to the direct underlying asset, leading to a correction in valuation premiums.

With changes in the capital market, how will investors view this split-market performance between the two companies founded by one person? What impact will it have on future investment strategies?

#宏观经济 #Cryptocurrency

471.59% growth! Changxin Technology, on its first day of trading on the A-share market, became the market-cap leader in an epic case of FOMO, briefly surpassing the Industrial and Commercial Bank of China, with a market value of about RMB 3.31 trillion. Behind such a wild performance is the strong rise of China’s domestic memory industry.

After Changxin opened on the STAR Market, its share price hit a high of 49.88 yuan. After falling a few times, it surged again to above 47 yuan. In the first hour after listing, trading volume exceeded RMB 100 billion, with a turnover rate of over 50%. This level of market heat directly caused the exchange to lag for a time.

What supports this frenzy is Changxin’s strong performance: in Q1 2026, revenue reached RMB 50.8 billion, up 719.13% year over year. This growth rate ranks just behind the top three in the global DRAM R&D and manufacturing sector.

On-chain, the excitement is not backing down either. On @HyperliquidX, the liquidation amount for $CXMT reached $1.602 million within an hour, surpassing $BTC during the same period and $ETH . Does this signal that Changxin Technology could become a new favorite in the crypto market?

With such a fierce showing, do you think Changxin Technology can keep leading the pack?#加密货币 #macroeconomic

BitMart shuts down, the CEO didn’t even know?

On July 26, BitMart announced it would gradually close the platform, planning to fully stop operations on January 31, 2027. But what’s surprising is that its global CEO, Nenter, only learned about the news after the announcement was released. Just two days earlier, he was told he was about to leave, and he even had no say in the decision to shut down.

This incident not only caught the CEO off guard, but also shocked the market. As a centralized exchange that manages large amounts of users’ funds, BitMart made such a major decision without the knowledge of top management—raising serious questions about whether there’s something wrong with its internal management structure.

After the announcement, the platform token $BMX plummeted by more than 50%, reflecting the market’s lack of trust in BitMart’s future. Such an information gap for an exchange could bring long-term negative effects.

Do you think other exchanges will learn a lesson from this?

#加密货币 #Regulatory Updates

The market is really something—exchanges are going down one after another.

Only then did I realize that BitMEX / BitMax / BitMart—the names are different, but they’re all similar and they’ve all gone under.

Even some of the items in the table were once industry leaders, but they still couldn’t survive as the industry’s momentum faded.

You can only say: in a bull market, it determines how high you can fly; in a bear market, it determines who you are.

RIP 🪦

Did you know that so far, Babylon’s staked vaults are currently holding 56,853 BTC, worth about $3.6 billion, and it still remains the largest Bitcoin staking protocol by scale

Babylon’s Trustless Bitcoin Vaults (TBV) under @BabylonLabs_io use native BTC directly as collateral. They borrow real USDC on the Ethereum mainnet, with no cross-chain bridges throughout, and no custody-wrapped assets like wBTC

In simple terms, it locks BTC inside self-custody vaults on the Bitcoin chain. Ownership always stays in the users’ hands. Collateralization and lending are driven entirely by on-chain verifiable rules, removing centralized custodians altogether. The team also compressed the peg-in time to nearly 3 hours, cutting on-chain costs by more than threefold

$BABY is positioned toward governance, staking, and protocol fees collected in an auction-like format, converging toward the token. Last year’s upgrade reduced annual inflation from 8% to 5.5%. Just a week ago, they completed a batch of unlocks for the team and early investors

#baby

Lately, on the privacy track, performance has been solid: $ZEC is back around 500, and $Zama has quietly set new highs, basically doubling. There’s also a bit of renewed hope for meme coins

In a bear market, it’s actually the best time to see whether a project has substance. Some projects hire hackers to monetize themselves. Some projects said they would benchmark $Sui and then applied for bankruptcy protection. Some projects just disappeared. And some do nothing—just spend the money from my ICO 😭

Compared to that, Sui is pretty solid—I’ve kept seeing new progress.

1️⃣ Did you know $Sui also built privacy? It started as early as the beginning of the year. Sui’s private transfers went into public test in June. It’s specifically for institutions: the amount and balances are hidden. Only the sender and receiver can see them, and it also complies with regulatory requirements.

2️⃣ And in combination with the previous zero-Gas stablecoin transfer, the recent Hashi testnet has just gone live. It’s currently set up for BTC lending and, later on, will become the place for institutions to issue Bitcoin-backed bonds. The goal is to bring around $1 trillion of long-idle BTC into on-chain lending and the credit market. More than 25 institutions—including BitGo, Cumberland, FalconX, and Ledger—are already running on the testnet.

3️⃣ Everyone is definitely worried that Sui was relatively easy to get hacked the other day. You can rest assured: Hashi’s mechanism keeps Bitcoin on the Bitcoin mainnet. It uses a 2-of-2 multisig secured jointly by MPC verifiers and a Guardian safeguarding layer, so there’s no need to package it into wBTC first and then move it on-chain.

4️⃣ Sui integrates stablecoin transfers into the protocol layer to achieve permanent zero Gas. It supports 7 types of stablecoins in one go, directly aiming at SWIFT’s cross-border fee model. (Honestly, this is pretty important—last time I saw a research report from Binance, I learned that stablecoin weekend transfer volume was 76 billion = Visa’s daily volume.)

Obviously, they’re pushing toward infrastructure that institutions can actually use. And if they add liquidity too, it’ll be even better. Oh right! I heard Sui is going to support a protocol called Hudi—enabling round-the-clock (24/7) on-chain trading of Asian stocks 👀

Tech stocks plunge—does $BTC rise against the trend?

This week, US technology stocks suffered a sharp setback, with the market value of the “Seven Tech Giants” evaporating by nearly $79.7 billion, while $BTC rose by about 1.82% during the same period. The decline in tech stocks was mainly driven by investors re-evaluating AI narratives and high valuations, leading them to adjust their risk exposure.

Tesla and Alphabet both fell by more than 16% and 8.4%, respectively, reflecting shaken investor confidence in large technology companies. However, during the same period, the price of $BTC remained steady around $65,000 and did not fully follow the downward trend of tech stocks. In particular, during Thursday’s selloff, the drop in $BTC was still contained within a relatively smaller range.

Does this suggest that the cryptocurrency market may become further decoupled from traditional tech stocks?

#加密货币 #Macroeconomics

Offshore trust tax policy changes—20% individual income tax fully covered!😮

The Ministry of Finance and the State Taxation Administration have issued new regulations, officially bringing offshore trusts into the era of look-through taxation. Regardless of whether it’s at the establishment, during the holding period, or upon termination, resident individuals will face a 20% individual income tax. In the past, offshore trusts relied on undistributed earnings to achieve tax deferral strategies—now that approach has been completely broken.

Interestingly, the regulator’s focus has shifted from whether funds are repatriated to who actually controls and enjoys the economic benefits. This means tax authorities will pay more attention to the actual beneficiaries of offshore trusts and the sources of funds. Any unpaid taxes that accumulated since 2023 must be declared within 90 days after the announcement takes effect, with no late-payment penalties.

This policy adjustment not only reshapes the offshore trust market, but may also have far-reaching impacts on the allocation of related assets. What do you think—how will this change investment strategies for high-net-worth individuals?

#监管动态 #Macroeconomy

Is BitMEX shutdown the bottom of the bear market?

Once a pioneer in crypto derivatives trading, BitMEX has now announced that it will completely shut down operations in September 2026. Founded by Arthur Hayes, the platform once led the trend of high-leverage perpetual contracts, but now—amid intense market competition and regulatory pressure—it is coming to an end. Starting August 26, the platform will stop opening new positions and will only allow users to reduce their positions.

Why is BitMEX exiting the market? On one hand, market liquidity has been taken away by emerging platforms such as $BNB and $OKB. On the other hand, U.S. regulation has imposed a heavy burden on it, with the $100 million fine being just one of several factors. In mid-2026, the management team’s collective resignation has further deepened market pessimism about its future.

Does BitMEX’s exit mean that speculative sentiment has hit rock bottom? Has the bear market already found its bottom? Share your views in the comments section.

#加密货币 #Regulatory Updates

$2.3B! Tokenized stock markets hit a historic high, as stock tokenization begins to enter a mature phase. Ethereum $ETH , BNB Chain $BNB , and Solana $SOL together account for nearly 89% of the market share, becoming the main infrastructure for tokenized stocks.

Ethereum continues to be the top choice for major issuers thanks to its mature DeFi ecosystem and high recognition. BNB Chain’s low costs and high liquidity have attracted a large number of users, helping it capture about a third of the market. Solana, on the other hand, rapidly expanded its share through high throughput and low transaction fees, forming a three-horse lead alongside the other two.

Although the market capitalization of $2.3B is still limited compared with traditional stock markets, tokenized stocks are expected to become the next major trend after stablecoins and U.S. Treasuries. In the future, on-chain users may directly trade a variety of securities assets such as U.S. stocks and ETFs. The chain that stands out in areas like compliance, asset custody, and liquidity will gain the upper hand in on-chain capital markets.

With the rise of tokenized stocks, which chain do you think will win in future competition?

#加密货币 #Macro economy

Robinhood Chain Isn’t a Financial Innovation—Is It a Meme Coin Playground?

You might not have realized that Robinhood Chain’s on-chain transaction volume has already reached about $10.5 billion, with nearly half of it accounted for by transactions related to ETH and WETH. However, what really grabs attention is meme coins: they make up 86% of the remaining transaction volume. This includes regular meme coins, meme coins associated with co-founder Vlad, and animal-themed meme coins.

For a public chain aiming at stock tokenization and on-chain brokerage, such a high proportion of meme coins inevitably raises questions: has Robinhood’s strategic direction veered away from its original intent? Will the on-chain path of traditional finance be swallowed by the frenzy of meme coins?

What do you think—can the meme coin trend sustainably support the development of Robinhood Chain? Or is this just a temporary market phenomenon?

#加密货币 #Market Analysis

Shocking! The once-famous project Movement is now on the brink of bankruptcy?

Movement Labs has filed for bankruptcy protection. Today, its assets are only under $500,000, while its liabilities amount to as much as $10 million. Most dramatically, the largest creditor is the ousted co-founder, with a claim exceeding $1.6 million.

Movement’s collapse began with a market-making turmoil after the $MOVE token launch: 66 million MOVE tokens were dumped, generating $38 million in cash, which directly caused the token price to plummet by 99%. Even with measures taken by Binance and Coinbase, investor confidence still couldn’t be restored.

However, Movement Labs’ bankruptcy doesn’t mean the end of the entire Movement project. Core development has been transferred to Move Industries, which is still operating normally and has shifted to an independent Layer 1, focusing on areas such as stablecoin payments and cross-border remittances. Does this mean Movement still has a chance to turn things around?

What do you think about where a project that was once valued at billions of dollars goes from here? Share your thoughts in the comments.

#加密货币 #Regulatory Updates

$54.338 billion in trading volume! Kalshi leaves Polymarket two blocks behind during the World Cup. Although the gap between them in World Cup events is only 31%, total platform trading volume is 2.6 times that of Polymarket.

The reason behind this is Kalshi’s diversified strategy: it doesn’t rely solely on sports events, but expands through compliant channels into long-term contracts in areas like economics, politics, and finance. This approach makes it especially strong in markets beyond sports.

What’s surprising is that a new player captured $11 billion in trading volume and 210,000 new users during the World Cup. While this once-every-four-years spectacle can draw attention, how to fill the post-event gap remains a major challenge.

Will prediction markets be able to attract hot topics of a similar scale in the future to maintain momentum?

#加密货币 #宏观经济

Do you believe it? The Bitcoin $BTC ETF is making history, and this time it’s not just because of a one-day surge!

Recently, U.S. spot Bitcoin ETFs have seen consecutive net inflows over just five days. On July 20 alone, they attracted $226.8 million in a single day, pushing the Bitcoin price briefly up to $66,000. This kind of sustained return of capital is the real signal of a market rebound—not just a one-day numbers game.

Behind these capital inflows, the moves by major institutions such as BlackRock’s IBIT can’t be overlooked, and this trend is also helping to repair market sentiment. Notably, the current BTC futures market has a long-to-short ratio of about 52%, indicating that the capital structure is relatively healthier than during the high-leverage periods of the past.

So, will this wave of returning capital lead to a lasting market recovery—or just a short-lived celebration?

#比特币 #行情分析

Base Looking to Catch Up to Robinhood? Plans to Launch 1:1 Stock Tokens!

Base's founder Jesse admits they are lagging behind Robinhood in stock tokenization, but they plan to fight back by launching 1:1 asset-backed stock tokens. This model is backed by real stock assets, with stronger transparency and trust foundations.

Robinhood Chain has already been providing stock token services on-chain, breaking through the trading time and geographical limitations of traditional securities markets to achieve around-the-clock global liquidity. This will be a significant challenge for Base.

For Coinbase, this is an important opportunity to expand on-chain financial infrastructure. Base's goal is shifting toward becoming a bridge connecting traditional finance with the blockchain world. How will this shape the market landscape in the future?

Do you think Base can successfully catch up to Robinhood?

#加密货币 #Regulatory Updates

The prediction market is no longer just a game for big players—but can you take part?

With HIP-4 launched by $HYPERLIQUID, everyone can create prediction markets. Although the barrier to entry is lowered, participation still requires staking 500,000 HYPE tokens. In the initial phase, each market has up to 100 outcome slots, corresponding to 200 Outcome Tokens. In the future, this may give smaller players opportunities, but for now it still seems to be a domain dominated by big capital.

Since HIP-4 went live in May this year, its trading volume in the first month has already reached $100 million. Permissless deployment may increase HYPE’s long-term value, because each market requires a large amount of token staking. However, participants still face issues such as high staking requirements and reliance on validators. In particular, disputes over how events are defined can easily trigger volatility in the market.

This time, will opening up prediction markets change the HYPE ecosystem? Will more small teams join in the future?

#加密货币 #Regulatory Updates

Kimi’s computing power is nearing its limit—pausing new user subscriptions!

The craze around K3 is truly astonishing. In just 48 hours, demand for Kimi has approached its capacity ceiling, forcing them to prioritize existing users first. In theory, when interest is rising, you should move quickly to expand the user base—but Kimi has chosen to close off access. This suggests the pressure they’re facing is already imminent.

K3’s rapid rise is largely because it addresses users’ long-standing pain points. It integrates long-context understanding, code capabilities, Agent functions, and visual abilities into a single system—particularly excelling in programming and complex tasks. Users’ focus on task-advancement performance, along with the buzz around domestic models and open-weight options, has drawn both tech insiders and everyday users in droves.

However, this is also where Kimi’s challenge lies. Reasoning for complex tasks and multi-turn operations consume a massive amount of computing power. The cost and latency issues brought on by demand amplification cannot be ignored. Kimi plans to optimize resource allocation and pricing by separating standard membership from Coding membership.

Will Kimi’s strategy changes ease the current pressure—and will there be more flexible solutions in the future?

#加密货币 #macro economy

Once $3.10, now only $0.166! Cardano’s fate has taken an abrupt turn—this time, it’s handing the core code over to an external team.

Starting this month, Cardano is transferring control of key components such as its Haskell nodes and the Plutus smart contract platform to @se7en_labs and @TeragoneFactory. Founder Hoskinson says this is the final step into the Voltaire era, but the timing is rather delicate.

$ADA ’s price is down by about 95%, and on-chain TVL is only $70 million. Compared with the Tron and Solana in the same segment, whose TVL often exceeds $4 billion, the gap is quite clear. Against the backdrop of stalled network expansion and the shutdown of multiple ecosystem projects, is this handover a decision driven by decentralization—or a strategic last resort?

What do you think about this move by Cardano? Will it have a positive impact on $ADA in the future?

#加密货币 #Macroeconomics

Why is the Ethereum Foundation team going solo? 🤔

Turns out, the team responsible for privacy at the organization left the Ethereum Foundation and formed a for-profit company called EthSystems. In the past, they had been developing open-source prototypes, and now they want to go further.

EthSystems’ goal is very clear: help banks issue and settle assets on $ETH while protecting customer privacy. Their technology includes zero-knowledge proofs and selective disclosure, so transaction and regulatory information each have their own place—achieving both confidentiality and transparency.

EthSystems has already received investment from BitMine and Ethereum co-founder Joe Lubin, and in the future they may even charge banks directly to turn the technology into commercial systems.

In the Ethereum ecosystem, can privacy become the next breakthrough point?

#以太坊 #cryptocurrency