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唐华斑竹
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唐华斑竹

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币乎大(推特X:@uniswap12),2025全球区块链百强创作者,独立研究员。在微博、推特、币乎、力场、币快报、向北社区、币车、财路、链书、八宝饭、链节点、巴比特、陀螺财经等币圈媒体拥有数十万粉丝。
2025 Blockchain 100 — Independent Researcher
2025 Blockchain 100 — Independent Researcher
Creator Awards 2024
Creator Awards 2024
原创之星
原创之星
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Posts
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Bearish
Verified
BNB Chain completes its 36th quarterly BNB burn, destroying approximately 1.6158 million BNB, worth $932 million The BNB Foundation announced that BNB Chain has completed its 36th quarterly BNB burn, and also the third quarterly burn of 2026. This burn totaled 1,615,827.795 BNB. Based on the price at the time of the burn, it is valued at approximately $932 million. As of the time of writing, the total remaining BNB supply is 133.17 million BNB. This burn was carried out through the BNB automatic burn mechanism. The related mechanism is independent of Binance’s centralized exchange and will gradually reduce the total BNB supply to 100 million. $BNB {spot}(BNBUSDT)
BNB Chain completes its 36th quarterly BNB burn, destroying approximately 1.6158 million BNB, worth $932 million
The BNB Foundation announced that BNB Chain has completed its 36th quarterly BNB burn, and also the third quarterly burn of 2026. This burn totaled 1,615,827.795 BNB. Based on the price at the time of the burn, it is valued at approximately $932 million. As of the time of writing, the total remaining BNB supply is 133.17 million BNB. This burn was carried out through the BNB automatic burn mechanism. The related mechanism is independent of Binance’s centralized exchange and will gradually reduce the total BNB supply to 100 million. $BNB
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Bearish
Partly True
Good news! Strategy CEO: plans to resume increasing its Bitcoin holdings and continue building up its U.S. dollar reserves On X, BitcoinTreasuries NET stated that Strategy MSTR CEO Phong Le said his plan is to bring STRC back to par value and resume increasing Bitcoin holdings. Strategy will continue to build its U.S. dollar reserves because it is accretive to its Bitcoin per share. Phong Le also said that retaining 2 to 3 years of dividends in its U.S. dollar reserves is an important part of its capital plan, so it can issue more preferred stock in the future. $BTC {spot}(BTCUSDT)
Good news! Strategy CEO: plans to resume increasing its Bitcoin holdings and continue building up its U.S. dollar reserves
On X, BitcoinTreasuries NET stated that Strategy MSTR CEO Phong Le said his plan is to bring STRC back to par value and resume increasing Bitcoin holdings. Strategy will continue to build its U.S. dollar reserves because it is accretive to its Bitcoin per share. Phong Le also said that retaining 2 to 3 years of dividends in its U.S. dollar reserves is an important part of its capital plan, so it can issue more preferred stock in the future. $BTC
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Bearish
Please note that Changxin Technology has no actual controller. If you get cut, it won’t be easy to find someone to complain to. Changxin Technology: After listing, it will still maintain a control-rights structure with no actual controller When answering investors’ questions, Yuan Yuan, Vice President and Secretary to the Board of Directors of Changxin Technology, said that after the company is listed, the shareholding structure will be further dispersed. The shareholding percentages of the top five shareholders will all be no more than 30%, and there is no shareholder whose stake exceeds 50%; In addition, the company has already established a modern corporate governance structure composed of the shareholders’ meeting, the board of directors, various specialized committees, and the management. The board of directors consists of 11 members. Of these, in addition to 4 independent directors, the actual proposers for the 7 non-independent directors are: Qinghui Changxin for 1 seat, Changxin Integration for 1 seat, Phase II of the Big Fund for 2 seats, Hefei Jinxin for 1 seat, Anhui Provincial Investment for 1 seat, and an employee director for 1 seat. No single shareholder, by actually controlling voting rights, can decide the appointment of more than half of the members of the board of directors of Changxin Technology. Therefore, after listing, the company is expected to continue to maintain a fairly dispersed board-nomination structure. Hence, after listing, Changxin Technology will still maintain a control-rights structure with no actual controller. (Securities Times) $SOL {spot}(SOLUSDT)
Please note that Changxin Technology has no actual controller. If you get cut, it won’t be easy to find someone to complain to.
Changxin Technology: After listing, it will still maintain a control-rights structure with no actual controller
When answering investors’ questions, Yuan Yuan, Vice President and Secretary to the Board of Directors of Changxin Technology, said that after the company is listed, the shareholding structure will be further dispersed. The shareholding percentages of the top five shareholders will all be no more than 30%, and there is no shareholder whose stake exceeds 50%;
In addition, the company has already established a modern corporate governance structure composed of the shareholders’ meeting, the board of directors, various specialized committees, and the management. The board of directors consists of 11 members. Of these, in addition to 4 independent directors, the actual proposers for the 7 non-independent directors are: Qinghui Changxin for 1 seat, Changxin Integration for 1 seat, Phase II of the Big Fund for 2 seats, Hefei Jinxin for 1 seat, Anhui Provincial Investment for 1 seat, and an employee director for 1 seat. No single shareholder, by actually controlling voting rights, can decide the appointment of more than half of the members of the board of directors of Changxin Technology. Therefore, after listing, the company is expected to continue to maintain a fairly dispersed board-nomination structure. Hence, after listing, Changxin Technology will still maintain a control-rights structure with no actual controller. (Securities Times) $SOL
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Bearish
Partly True
Binance Completes KORUUSDT Contract Notional Value Adjustment in Advance According to an official announcement, Binance Derivatives has completed the notional value adjustment for the USDⓈ-Margined KORUUSDT perpetual contract ahead of schedule. During the adjustment period, trading will be paused from 00:15 (UTC) to 09:30 (UTC) on July 15, 2026; then it will enter the cancel-only orders phase from 09:30 (UTC) to 09:35 (UTC). All services will resume continuous trading at 17:35 (Beijing Time) on July 15, 2026. $KORU {future}(KORUUSDT)
Binance Completes KORUUSDT Contract Notional Value Adjustment in Advance
According to an official announcement, Binance Derivatives has completed the notional value adjustment for the USDⓈ-Margined KORUUSDT perpetual contract ahead of schedule. During the adjustment period, trading will be paused from 00:15 (UTC) to 09:30 (UTC) on July 15, 2026; then it will enter the cancel-only orders phase from 09:30 (UTC) to 09:35 (UTC). All services will resume continuous trading at 17:35 (Beijing Time) on July 15, 2026. $KORU
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Bearish
A friend’s words— the most miserable person in Yanjiao! In 2017, he bought an apartment in Seoul’s “Sweet City” area, over 100 square meters. Back then the price hit a shocking 42,000 RMB per square meter. After paying the down payment and taking out a mortgage, he began commuting between two places. At the time, he worked online, earning 30,000 RMB a month; the mortgage didn’t feel too obvious. After the pandemic, his company also went through massive layoffs— and then it was his turn. With no high income left, he had no choice but to grit his teeth and throw his savings into paying the mortgage. He even still fantasized that the price would rise, but he didn’t expect the opposite—prices kept falling, and falling harder. After multiple rounds of listing and price inquiries, the buyers kept breaking down his mental defenses. Now his savings are drained, and he has reached the point where he must sell the apartment. When he hears the offer, he’s stunned. He never thought the number would be: 670,000! From a “more than 40,000” price to the current average of just over 6,000 per square meter—he has completely lost. He’s lost the down payment, renovation costs, and his savings, and he still has 6.7 million RMB in principal and interest to repay. What is he supposed to do? The crushing debt leaves him absent-minded, and life loses its true essence. The apartment has become his biggest burden! $BNB {spot}(BNBUSDT)
A friend’s words— the most miserable person in Yanjiao!
In 2017, he bought an apartment in Seoul’s “Sweet City” area, over 100 square meters. Back then the price hit a shocking 42,000 RMB per square meter. After paying the down payment and taking out a mortgage, he began commuting between two places. At the time, he worked online, earning 30,000 RMB a month; the mortgage didn’t feel too obvious. After the pandemic, his company also went through massive layoffs— and then it was his turn. With no high income left, he had no choice but to grit his teeth and throw his savings into paying the mortgage. He even still fantasized that the price would rise, but he didn’t expect the opposite—prices kept falling, and falling harder. After multiple rounds of listing and price inquiries, the buyers kept breaking down his mental defenses. Now his savings are drained, and he has reached the point where he must sell the apartment. When he hears the offer, he’s stunned. He never thought the number would be: 670,000!
From a “more than 40,000” price to the current average of just over 6,000 per square meter—he has completely lost. He’s lost the down payment, renovation costs, and his savings, and he still has 6.7 million RMB in principal and interest to repay. What is he supposed to do?
The crushing debt leaves him absent-minded, and life loses its true essence. The apartment has become his biggest burden! $BNB
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Bearish
Oh, the crypto market is starting to swarm again to trade pre-market contracts for Changxin Storage (CXMT). On Hyperliquid, the highest price reached 8.64 USD, and it has now fallen back to around 8 USD. If we calculate the market cap based on the current pre-market price, Changxin Storage’s market value is about 540 billion USD, surpassing Tencent (526.5 billion USD) to rank 32nd globally. With this little money in the crypto market, everyone’s just eyeing new stocks for a frenzy—where would there be money left to pump knockoff coins? Now, the crypto bull market equals the stock market’s bull market. The crypto market no longer has an independent bull cycle—only an independent bear market. Apart from Bitcoin, all the other long-established mainstream altcoins are struggling to the death on the floor. Nobody knows how much longer they can hold on. At this rate, the crypto market may only need to keep BTC + stablecoins, and then gradually use stock tokens to replace all altcoins, turning into a shadow stock market. $CXT.US {stock_us}(CXT.US)
Oh, the crypto market is starting to swarm again to trade pre-market contracts for Changxin Storage (CXMT). On Hyperliquid, the highest price reached 8.64 USD, and it has now fallen back to around 8 USD. If we calculate the market cap based on the current pre-market price, Changxin Storage’s market value is about 540 billion USD, surpassing Tencent (526.5 billion USD) to rank 32nd globally.
With this little money in the crypto market, everyone’s just eyeing new stocks for a frenzy—where would there be money left to pump knockoff coins? Now, the crypto bull market equals the stock market’s bull market. The crypto market no longer has an independent bull cycle—only an independent bear market.
Apart from Bitcoin, all the other long-established mainstream altcoins are struggling to the death on the floor. Nobody knows how much longer they can hold on.
At this rate, the crypto market may only need to keep BTC + stablecoins, and then gradually use stock tokens to replace all altcoins, turning into a shadow stock market. $CXT.US
BTC-1.44%
CXTUS-0.01%
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Bullish
Revisiting “Sun Xue”: after watching all of Sun Yuchen’s lecture slides from ten years ago on his “Wealth Freedom Revolution” journey, I found myself replaying some sessions four or five times, along with other interview videos. It was incredibly震撼. In short: he’s a genius. At a very young age, he doesn’t need to go through experiences—just by watching, he can interpret the operating logic of the world. First, he doesn’t obsess over existing stock; he focuses on incremental growth, becoming the one who defines the way the game is played. Second, he understands the value of time and uses the “time lever” to the extreme. (Most people think their time is the least valuable, so they can waste it freely!) Third, he views everything and everyone on Earth with a calm, ordinary mindset, without fearing authority. (Most people, when something goes wrong, think the sky is falling.) Fourth, he goes directly to take on the emerging internet industry that will shape the future of the world, avoiding traditional industries. (Most people, once they start a business, just want to open a restaurant or a coffee shop.) Fifth, he can make the right judgment during the early stages when an industry is just beginning to take shape. His experience studying history at Peking University makes him good at extracting business logic from the big-picture framework of social transformation—so he can judge where an industry is headed. Sixth, he believes the asset most worth heavily investing in is himself. Operating oneself as a “high-quality individual” is the prerequisite for success. Seventh, the wealth freedom he defines means not selling your time, attention, emotions, and dignity for money. Spiritual freedom should come before material and financial freedom. He showed me the thinking logic of a genius—and exactly how someone can rise rapidly. @justinsuntron @TRONDAO #TRONEcoStar $TRX {spot}(TRXUSDT)
Revisiting “Sun Xue”: after watching all of Sun Yuchen’s lecture slides from ten years ago on his “Wealth Freedom Revolution” journey, I found myself replaying some sessions four or five times, along with other interview videos. It was incredibly震撼. In short: he’s a genius.
At a very young age, he doesn’t need to go through experiences—just by watching, he can interpret the operating logic of the world.
First, he doesn’t obsess over existing stock; he focuses on incremental growth, becoming the one who defines the way the game is played.
Second, he understands the value of time and uses the “time lever” to the extreme. (Most people think their time is the least valuable, so they can waste it freely!)
Third, he views everything and everyone on Earth with a calm, ordinary mindset, without fearing authority. (Most people, when something goes wrong, think the sky is falling.)
Fourth, he goes directly to take on the emerging internet industry that will shape the future of the world, avoiding traditional industries. (Most people, once they start a business, just want to open a restaurant or a coffee shop.)
Fifth, he can make the right judgment during the early stages when an industry is just beginning to take shape. His experience studying history at Peking University makes him good at extracting business logic from the big-picture framework of social transformation—so he can judge where an industry is headed.
Sixth, he believes the asset most worth heavily investing in is himself. Operating oneself as a “high-quality individual” is the prerequisite for success.
Seventh, the wealth freedom he defines means not selling your time, attention, emotions, and dignity for money. Spiritual freedom should come before material and financial freedom.
He showed me the thinking logic of a genius—and exactly how someone can rise rapidly.
@justinsuntron @TRON DAO #TRONEcoStar $TRX
Verified
Article
AI No.1 stock plunges 92%, No.2 stock tumbles 80%—a massacre is unfoldingIf you still hold AI stocks, these days you might not even have the courage to open your trading account. On July 13, the “two giants of large models” saw their performance completely split—Zhipu surged nearly 12%, with a market cap exceeding HK$800 billion; MiniMax fell again by more than 13% at the open, with its market cap dropping below HK$75 billion. Two star companies that listed side by side at the start of the year have, half a year later, widened their market-cap gap by more than 10 times. But even more chilling than the division is the sheer magnitude of the drop. MiniMax, an AI pet once dubbed the “first AI-model stock,” even reached a historical peak of HK$1,330 in March, with its market cap once surging past HK$410 billion. So what about now? It’s hovering around HK$220, down more than 80% from its high. On July 9—the lock-up expiry day—1.53 million shares, accounting for 48.9% of the total issued shares, flooded the market overnight. The stock price plunged nearly 18% in a single day, and its market cap evaporated by over HK$20 billion in one day. Then, on July 10, it announced a discounted placing again, and the share price continued to fall. Founder Yan Junjie said that he would not draw a salary until achieving AGI, but the market simply wouldn’t buy it.

AI No.1 stock plunges 92%, No.2 stock tumbles 80%—a massacre is unfolding

If you still hold AI stocks, these days you might not even have the courage to open your trading account.
On July 13, the “two giants of large models” saw their performance completely split—Zhipu surged nearly 12%, with a market cap exceeding HK$800 billion; MiniMax fell again by more than 13% at the open, with its market cap dropping below HK$75 billion. Two star companies that listed side by side at the start of the year have, half a year later, widened their market-cap gap by more than 10 times.
But even more chilling than the division is the sheer magnitude of the drop.
MiniMax, an AI pet once dubbed the “first AI-model stock,” even reached a historical peak of HK$1,330 in March, with its market cap once surging past HK$410 billion. So what about now? It’s hovering around HK$220, down more than 80% from its high. On July 9—the lock-up expiry day—1.53 million shares, accounting for 48.9% of the total issued shares, flooded the market overnight. The stock price plunged nearly 18% in a single day, and its market cap evaporated by over HK$20 billion in one day. Then, on July 10, it announced a discounted placing again, and the share price continued to fall. Founder Yan Junjie said that he would not draw a salary until achieving AGI, but the market simply wouldn’t buy it.
METAUS-0.27%
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Bearish
Verified
Binance will add 10 bStocks as collateral According to an official announcement, Binance will add 10 bStocks tokens as eligible collateral in Cross Margin, Portfolio Margin and Portfolio Margin Pro at 13:30 (UTC) on July 15, 2026, including AppliedOptoelectronics (AAOIB), Arm (ARMB), Broadcom (AVGOB), Alibaba (BABAB), Robinhood (HOODB), IBM (IBMB), MarvellTechnology (MRVLB), Nokia (NOKB), RocketLab (RKLBB) and TSMC (TSMB). The related bStocks trading pairs will also support margin trading. This feature is only available to users VIP3 and above and does not support lending.$IBM {future}(IBMUSDT)
Binance will add 10 bStocks as collateral
According to an official announcement, Binance will add 10 bStocks tokens as eligible collateral in Cross Margin, Portfolio Margin and Portfolio Margin Pro at 13:30 (UTC) on July 15, 2026, including AppliedOptoelectronics (AAOIB), Arm (ARMB), Broadcom (AVGOB), Alibaba (BABAB), Robinhood (HOODB), IBM (IBMB), MarvellTechnology (MRVLB), Nokia (NOKB), RocketLab (RKLBB) and TSMC (TSMB). The related bStocks trading pairs will also support margin trading. This feature is only available to users VIP3 and above and does not support lending.$IBM
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Bearish
Verified
The US stock market isn’t much fun— even blue-chip “white horse” stocks can be terrifying when they plunge. On the evening of the 14th, after the US stock market opened, IBM’s share price fell by more than 25% at one point, marking the largest single-day drop since 1987. The company’s market value fell to about $200 billion, with 1/4 of its market cap wiped out. That day, IBM reported that its preliminary second-quarter sales were below expectations. The company attributed its underperformance to customers shifting spending toward chips and servers. $IBM {future}(IBMUSDT)
The US stock market isn’t much fun— even blue-chip “white horse” stocks can be terrifying when they plunge. On the evening of the 14th, after the US stock market opened, IBM’s share price fell by more than 25% at one point, marking the largest single-day drop since 1987. The company’s market value fell to about $200 billion, with 1/4 of its market cap wiped out.
That day, IBM reported that its preliminary second-quarter sales were below expectations. The company attributed its underperformance to customers shifting spending toward chips and servers. $IBM
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Bearish
Verified
Want to play the same game as with domestic brokers in the U.S.? That’s definitely not going to work anymore. Futu Holdings has been hit with a securities class action lawsuit filed by shareholders in the United States, and it turns out the original boss is also of Chinese origin. Futu Holdings is facing a class action lawsuit in the U.S. A certain investor recently filed a securities class action in the U.S. District Court for the Southern District of New York, alleging that the company violated the U.S. Securities Exchange Act of 1934 provisions regarding securities fraud and the liability of controlling persons. The lawsuit names Futu Holdings, its founder, Chairman and CEO Li Hua, and its Chief Financial Officer Chen Yu as defendants. Previously, market makers Haina International and Castle Securities had also sued Futu Holdings and Tiger Securities’ option insider traders. It is understood that Li Hua comes from the Tencent system. He was the 18th founding employee of Tencent; he participated in early R&D for Tencent QQ, and he is the founder of Tencent Video. He has also served as the head of Tencent’s multimedia business and the Innovation Center. $BNB {spot}(BNBUSDT)
Want to play the same game as with domestic brokers in the U.S.? That’s definitely not going to work anymore. Futu Holdings has been hit with a securities class action lawsuit filed by shareholders in the United States, and it turns out the original boss is also of Chinese origin.
Futu Holdings is facing a class action lawsuit in the U.S. A certain investor recently filed a securities class action in the U.S. District Court for the Southern District of New York, alleging that the company violated the U.S. Securities Exchange Act of 1934 provisions regarding securities fraud and the liability of controlling persons. The lawsuit names Futu Holdings, its founder, Chairman and CEO Li Hua, and its Chief Financial Officer Chen Yu as defendants.
Previously, market makers Haina International and Castle Securities had also sued Futu Holdings and Tiger Securities’ option insider traders. It is understood that Li Hua comes from the Tencent system. He was the 18th founding employee of Tencent; he participated in early R&D for Tencent QQ, and he is the founder of Tencent Video. He has also served as the head of Tencent’s multimedia business and the Innovation Center. $BNB
BNB-0.72%
FUTUUS-0.52%
Verified
Article
Stable, Fast, and Auditable—What Can ZKM Bring to GOAT Network?In the ZK track of blockchain, there’s a fairly common phenomenon: most project teams spend their effort on brand packaging and ecosystem narratives, but when it comes to the underlying proving engine, they instead directly rent an off-the-shelf solution. Strip away the marketing rhetoric, and each zkRollup is essentially repeatedly making the same claim: “This computation is fine—these are cryptographic proofs.” The chain itself only broadcasts that claim; what truly holds it up is the underlying zkVM. This leads to a very core question: since the proving engine directly determines the security baseline of the entire network, why are so many teams willing to put their lifeline in someone else’s hands?

Stable, Fast, and Auditable—What Can ZKM Bring to GOAT Network?

In the ZK track of blockchain, there’s a fairly common phenomenon: most project teams spend their effort on brand packaging and ecosystem narratives, but when it comes to the underlying proving engine, they instead directly rent an off-the-shelf solution. Strip away the marketing rhetoric, and each zkRollup is essentially repeatedly making the same claim: “This computation is fine—these are cryptographic proofs.” The chain itself only broadcasts that claim; what truly holds it up is the underlying zkVM.
This leads to a very core question: since the proving engine directly determines the security baseline of the entire network, why are so many teams willing to put their lifeline in someone else’s hands?
Article
Binance USD1 Holding Activity Extended Another Month; the 165 Million WLFI Prize Pool Keeps FlowingBinance USD1 Holders’ “profit-sharing” activity for WLFI has been continued again—running from July 10 to August 7, with the prize pool staying unchanged at 165 million WLFI. Doing the math, this is already the seventh consecutive time they’ve topped up the cup. Since this January, it has almost never stopped—each time it was about to expire, it was promptly extended again on schedule. This kind of sustained incentive is indeed rare in a bear market. The rules stay low-barrier: just hold USD1 in your Binance spot, savings/funding, margin, or U-margined contract account. Every Friday you automatically receive the rewards—no lock-up required, and no staking needed, so it’s hassle-free. Regular players can earn the baseline rewards simply by putting USD1 in their spot or savings account, and both newcomers and players who don’t want to do anything can join easily.

Binance USD1 Holding Activity Extended Another Month; the 165 Million WLFI Prize Pool Keeps Flowing

Binance USD1 Holders’ “profit-sharing” activity for WLFI has been continued again—running from July 10 to August 7, with the prize pool staying unchanged at 165 million WLFI. Doing the math, this is already the seventh consecutive time they’ve topped up the cup. Since this January, it has almost never stopped—each time it was about to expire, it was promptly extended again on schedule. This kind of sustained incentive is indeed rare in a bear market.
The rules stay low-barrier: just hold USD1 in your Binance spot, savings/funding, margin, or U-margined contract account. Every Friday you automatically receive the rewards—no lock-up required, and no staking needed, so it’s hassle-free. Regular players can earn the baseline rewards simply by putting USD1 in their spot or savings account, and both newcomers and players who don’t want to do anything can join easily.
Verified
Article
Some people say Pop Mart will absolutely become Pang Yongping’s WaterlooPang Yongping increases his holdings of Pop Mart again! His shareholding has surpassed 100 million shares. He has been steadily adding shares and has become the second-largest shareholder, just behind the founder Wang Ning. On July 10, a report by Red Star News said, according to disclosures by the Hong Kong Exchanges and Clearing House, that the well-known investor Pang Yongping increased his holdings of Pop Mart (09992.HK) again. His number of shares held rose from 91.2728 million shares to 102 million shares, and his shareholding ratio rose from 6.85% to 7.65%. The last reporting date for this increase in holdings was July 6, 2026. Recently, Pang Yongping has increased his holdings in Pop Mart multiple times. On May 27, the disclosure of changes in equity interests by the Hong Kong Exchanges and Clearing House showed that Pang Yongping and H&H Investment, which he controls, increased their holdings in the company’s shares of Pop Mart in sync. The shareholding proportion held by acting-in-concert parties reached 5.69%, triggering mandatory disclosure requirements, making them the second-largest shareholder after Pop Mart’s founder, Wang Ning. The equity-change table shows that the purchase took place on May 25, when 9.8232 million ordinary shares of Pop Mart were bought at an average price of HKD 150 per share, for a total transaction amount of HKD 1.47 billion.

Some people say Pop Mart will absolutely become Pang Yongping’s Waterloo

Pang Yongping increases his holdings of Pop Mart again! His shareholding has surpassed 100 million shares. He has been steadily adding shares and has become the second-largest shareholder, just behind the founder Wang Ning.
On July 10, a report by Red Star News said, according to disclosures by the Hong Kong Exchanges and Clearing House, that the well-known investor Pang Yongping increased his holdings of Pop Mart (09992.HK) again. His number of shares held rose from 91.2728 million shares to 102 million shares, and his shareholding ratio rose from 6.85% to 7.65%. The last reporting date for this increase in holdings was July 6, 2026.
Recently, Pang Yongping has increased his holdings in Pop Mart multiple times.
On May 27, the disclosure of changes in equity interests by the Hong Kong Exchanges and Clearing House showed that Pang Yongping and H&H Investment, which he controls, increased their holdings in the company’s shares of Pop Mart in sync. The shareholding proportion held by acting-in-concert parties reached 5.69%, triggering mandatory disclosure requirements, making them the second-largest shareholder after Pop Mart’s founder, Wang Ning. The equity-change table shows that the purchase took place on May 25, when 9.8232 million ordinary shares of Pop Mart were bought at an average price of HKD 150 per share, for a total transaction amount of HKD 1.47 billion.
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Bearish
Just watched a video saying a girl couldn’t find a job, so she wanted to become a guide-dog handler. She said training a qualified guide dog takes over 1 million and can only be used for about six or seven years. But if you hire a person to do a job similar to a guide-dog’s work, you only need a monthly salary of 8,000—and they can do it for decades. I looked into it and suddenly felt my thinking open up. Right—everything a guide dog can do, people can also do. But most things people can do, guide dogs can’t. And the cost is also lower. It’s really quite good. My thinking was opened up in an instant. $SOL {spot}(SOLUSDT)
Just watched a video saying a girl couldn’t find a job, so she wanted to become a guide-dog handler. She said training a qualified guide dog takes over 1 million and can only be used for about six or seven years. But if you hire a person to do a job similar to a guide-dog’s work, you only need a monthly salary of 8,000—and they can do it for decades. I looked into it and suddenly felt my thinking open up. Right—everything a guide dog can do, people can also do. But most things people can do, guide dogs can’t. And the cost is also lower. It’s really quite good.

My thinking was opened up in an instant. $SOL
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Bearish
The “sleep cities beyond the Ring Road” that people once fought over with their heads—no one wants them even after a price cut of 85%: who killed suburban housing? To be honest, this round of declines in China’s suburban home market is still beyond what I expected. In May this year, at the entrance to the Yanji Chaobai Renjia residential community in Yanjing, the price shown on a red sign put up by real-estate agents for a 102-sq-m, north-south three-bedroom, fully fitted with move-in ready interiors, was 598,000 RMB—an asking price of 5,862 RMB per sq m. But nine years ago, buying this same layout cost 4.18 million RMB. This isn’t a joke—it’s everyday life in Yanjing in 2026. (In 2026, the average asking price for second-hand homes in Yanjing hovers around 8,000 RMB per sq m. Communities such as Fucheng Shangshangcheng and Shui Ze Hua Cheng have fallen from peak prices of over 40,000 RMB per sq m to under 10,000 RMB. The drop exceeds 75%.) And the real “king of declines” isn’t even Yanjing. Yongqing—once hyped into the “Gateway to Southern Beijing”—saw housing prices jump from just a few thousand RMB per sq m to 23,000 RMB per sq m in 2017, powered by three concepts: the Beijing Daxing Airport, the R1 metro line, and the integration of the Beijing-Tianjin-Hebei region. Where is it now? 3,500 RMB per sq m. (For a 100-sq-m unit, the total price was 2.3 million back then; today its market value is only about 350,000. Not only would you “lose your down payment,” the total home price still isn’t enough to repay a bank loan—while the number of court-auction properties in the area has risen year after year.) If you could rewind back to 2017, Yanjing’s Seoul Sweet City opened at 40,000 RMB per sq m and nearly sold out that same day. Real-estate agency shops on every street were packed with people. Investment buyers paid in full as if buying cabbages. Back then, everyone was telling the same story: “Get to Guomao in half an hour,” “the metro will be opening soon,” and “the Ring-Jing area is Beijing’s backyard.” It wasn’t only the Ring-Jing corridor. Outside Shanghai’s Outer Ring Road, in 2024, the eight suburban districts besides Pudong together put 186 projects and 34,968 units on the market—accounting for 58.44% of the city’s total. And what happened? Only 6 triggered point-based eligibility; the other 180 new developments all entered the long-haul “continue to sell” battle. (Hongqiao at the Great Hongqiao and Lingang can’t sell; new homes in far-flung towns are broadly stalled; at some projects, the sell-through rate after six months is under 5%. For Spring Sun in Jiading Huating, the launch has only achieved one-third of expected sales after three years.) And this year, in May, second-hand home prices in first-tier cities rose against the trend—Shanghai and Shenzhen each increased by 0.6%. Same piece of land, two opposite realities. People have started competing for homes in core areas, but no one even bothers to look at houses in the suburbs. $SOL {spot}(SOLUSDT)
The “sleep cities beyond the Ring Road” that people once fought over with their heads—no one wants them even after a price cut of 85%: who killed suburban housing?
To be honest, this round of declines in China’s suburban home market is still beyond what I expected.
In May this year, at the entrance to the Yanji Chaobai Renjia residential community in Yanjing, the price shown on a red sign put up by real-estate agents for a 102-sq-m, north-south three-bedroom, fully fitted with move-in ready interiors, was 598,000 RMB—an asking price of 5,862 RMB per sq m. But nine years ago, buying this same layout cost 4.18 million RMB. This isn’t a joke—it’s everyday life in Yanjing in 2026. (In 2026, the average asking price for second-hand homes in Yanjing hovers around 8,000 RMB per sq m. Communities such as Fucheng Shangshangcheng and Shui Ze Hua Cheng have fallen from peak prices of over 40,000 RMB per sq m to under 10,000 RMB. The drop exceeds 75%.)
And the real “king of declines” isn’t even Yanjing. Yongqing—once hyped into the “Gateway to Southern Beijing”—saw housing prices jump from just a few thousand RMB per sq m to 23,000 RMB per sq m in 2017, powered by three concepts: the Beijing Daxing Airport, the R1 metro line, and the integration of the Beijing-Tianjin-Hebei region. Where is it now? 3,500 RMB per sq m. (For a 100-sq-m unit, the total price was 2.3 million back then; today its market value is only about 350,000. Not only would you “lose your down payment,” the total home price still isn’t enough to repay a bank loan—while the number of court-auction properties in the area has risen year after year.)
If you could rewind back to 2017, Yanjing’s Seoul Sweet City opened at 40,000 RMB per sq m and nearly sold out that same day. Real-estate agency shops on every street were packed with people. Investment buyers paid in full as if buying cabbages. Back then, everyone was telling the same story: “Get to Guomao in half an hour,” “the metro will be opening soon,” and “the Ring-Jing area is Beijing’s backyard.”
It wasn’t only the Ring-Jing corridor. Outside Shanghai’s Outer Ring Road, in 2024, the eight suburban districts besides Pudong together put 186 projects and 34,968 units on the market—accounting for 58.44% of the city’s total. And what happened? Only 6 triggered point-based eligibility; the other 180 new developments all entered the long-haul “continue to sell” battle. (Hongqiao at the Great Hongqiao and Lingang can’t sell; new homes in far-flung towns are broadly stalled; at some projects, the sell-through rate after six months is under 5%. For Spring Sun in Jiading Huating, the launch has only achieved one-third of expected sales after three years.)
And this year, in May, second-hand home prices in first-tier cities rose against the trend—Shanghai and Shenzhen each increased by 0.6%. Same piece of land, two opposite realities. People have started competing for homes in core areas, but no one even bothers to look at houses in the suburbs. $SOL
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Bearish
Animal life has a pattern: when the environment can’t support survival, animals will independently reduce their breeding numbers. In the end, humans are also a mammal. In the latest round of surveys in 2025, among people with fixed partners, about half of women aged 45 and above reported having sex less than once per month—or having no sex at all throughout the year. For men of the same age group, the proportion is also close to 40%. In the younger bracket—people aged 36 to 45—about 20% are in a similar situation, meaning more than one fifth of middle-aged people are in sexless marriages. Moreover, this figure is higher than in 2020. In a survey five years ago, among young people aged 18 to 25, about 20% of men had had a casual hookup experience, while the figure for women was 17%. But five years later, in the same age group, the percentage of men dropped to 8%, while women were at only about 4% $SOL {spot}(SOLUSDT)
Animal life has a pattern: when the environment can’t support survival, animals will independently reduce their breeding numbers. In the end, humans are also a mammal.
In the latest round of surveys in 2025, among people with fixed partners, about half of women aged 45 and above reported having sex less than once per month—or having no sex at all throughout the year. For men of the same age group, the proportion is also close to 40%. In the younger bracket—people aged 36 to 45—about 20% are in a similar situation, meaning more than one fifth of middle-aged people are in sexless marriages. Moreover, this figure is higher than in 2020.
In a survey five years ago, among young people aged 18 to 25, about 20% of men had had a casual hookup experience, while the figure for women was 17%. But five years later, in the same age group, the percentage of men dropped to 8%, while women were at only about 4% $SOL
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Bearish
Verified
Haha, this is going against the trend—basically looking for death! A whale that shorted the Changxin Memory (CXMT) contract got liquidated within minutes On July 15, according to on-chain analyst Ai Yi, a certain whale shorting Changxin Memory (CXMT) had its position rapidly liquidated in just 28 minutes, with a loss of $220,000 to $44,000. Previously, there was news that an address with account assets over $75 million was building a long position. $CXM.US {stock_us}(CXM.US)
Haha, this is going against the trend—basically looking for death! A whale that shorted the Changxin Memory (CXMT) contract got liquidated within minutes
On July 15, according to on-chain analyst Ai Yi, a certain whale shorting Changxin Memory (CXMT) had its position rapidly liquidated in just 28 minutes, with a loss of $220,000 to $44,000.
Previously, there was news that an address with account assets over $75 million was building a long position. $CXM.US
CXMUS+0.78%
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Bearish
100% Accurate “In every cycle, the Power Law model will be declared to have BTC death exactly once: - 2015 at $230 - 2022 at $15.5k - 2026 at $58k” $BTC {spot}(BTCUSDT)
100% Accurate
“In every cycle, the Power Law model will be declared to have BTC death exactly once:
- 2015 at $230
- 2022 at $15.5k
- 2026 at $58k”
$BTC
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Bearish
This is said too simply; the real story is a bit more complicated. The man was on a business trip in Australia. The woman asked him to take care of her friend who was traveling in Australia. The friend repeatedly implied that he could cross boundaries, and the man held back. Later, he felt something was off, so he connected with the host and asked what was going on $BNB {spot}(BNBUSDT)
This is said too simply; the real story is a bit more complicated. The man was on a business trip in Australia. The woman asked him to take care of her friend who was traveling in Australia. The friend repeatedly implied that he could cross boundaries, and the man held back. Later, he felt something was off, so he connected with the host and asked what was going on
$BNB
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