唐华斑竹

After the U.S. stock market opened, Bitcoin and Ethereum accelerated their decline. “Majie” rapidly reduced his position to avoid liquidation.

Once again, a pattern emerged in which a pullback in the U.S. stock market dragged the crypto market lower in tandem. Huang Licheng (“Majie”) swiftly cut his Ethereum long position as the price neared $1,800. Known for frequent trading with high leverage, the trader has accumulated losses of nearly $80 million since last September, and his position changes have become a micro-indicator for market sentiment and liquidation risk.

Amid recent market volatility, Majie’s trading style has shifted from his earlier insistence on adding to positions toward more frequent swing adjustments, seeking a balance between avoiding liquidation and capturing profits. Just ten days ago, he added to his position during a market rebound, increasing it to $17.08 million and posting weekly gains.

After this position cut, his liquidation price dropped to $1,795.49, less than 1% away from the current price. This kind of strategy that keeps the liquidation line tightly aligned with the spot price—especially as volatility picks up—looks more like actively managing risk rather than passively reacting. It suggests his approach may be evolving from simple bullish conviction to a more practical risk-control mindset. However, leverage has not been reduced, and the next market test is coming.

On July 17, after the U.S. stock market opened, Bitcoin and Ethereum accelerated their decline. As of the time of writing, Bitcoin was at $62,554.81, with a drop of 0.84% over the past hour. Ethereum, meanwhile, was hovering just above $1,800, currently at $1,810.62.

Affected by this, “Majie” rapidly and significantly reduced his Ethereum long position over the past hour. According to HyperInsight monitoring, his 25x Ethereum long position has now been cut down to 3,500 ETH, valued at $6.338 million. His long liquidation price has also fallen in parallel to $1,795.49, less than 1% from the current price. $ETH

Binance will support the Cardano network upgrade and hard fork
Binance will suspend Cardano ADA network token deposits and withdrawals on July 19, 2026 at 04:44 (UTC+8) to support the network upgrade and hard fork. The network upgrade and hard fork are expected to take place on July 19, 2026 at 05:44 (UTC+8). $CRV

This is Binance’s first product upgrade for its SpaceX Pre-IPO contract. Previously, in May, Binance launched an SPCX USDT-margined Pre-IPO contract, but the leverage was only 5x. With the introduction of the SPCXUSD1 perpetual contract, although it is a new contract, the core change is that the contract’s margin unit switches to a USD-margined basis and the maximum leverage is raised to 25x. This indicates that Binance is moving SPCX—its “quasi-listed asset”—from a trial product into its mainstream TradFi perpetual contract lineup for normalized operations. Recently, Binance has rolled out several traditional financial equity perpetual contracts in quick succession. The increase in SPCX’s leverage multiple suggests that its liquidity, risk models, and market attention have passed initial testing, making it a core tool for institutions and high-leverage traders to allocate exposure to the “space economy.”
On July 17, according to the official announcement, Binance will list the SPCXUSD1 perpetual contract on 2026-07-20 at 17:00 (UTC+8), with a maximum leverage of 25x. $BNB

Why not give it to DeepSeek to crack?
A programmer has 7,002 bitcoin private key USB drives with only 2 password attempts left, worth about $777 million
Programmer Stefan Thomas holds an IronKey encrypted USB drive containing 7,002 bitcoin private keys. The bitcoins were paid to him for a 2011 educational video he made titled “What is Bitcoin?”. Recently, they were valued at about $111,000 per coin, totaling about $777 million.

The IronKey device is configured to permanently lock and delete its contents after 10 incorrect password attempts. Thomas has tried 8 times, leaving only 2 password entry attempts remaining. Manufacturer Kingston says there is no backup password or alternative recovery method other than the original password set by the user.

Thomas sought help from the digital forensics company Naxo and security researcher Chris Tarnovsky, and he refused Unciphered after reaching verbal agreements with two teams. As of the end of 2025, the IronKey is still stored in a Swiss vault, and as of mid-2026 it has not been confirmed that recovery succeeded. $BTC

Investors pay to follow Ren Zeping’s views and heavily hold storage-chip stocks, and a full-margin operation with millions of funds leads to liquidation

Today, the media noticed that inside the paid member group named “Zeping Macro VIP Group 30,” investors are fiercely accusing one another.

A user in the group claimed that they were persuaded by Ren Zeping-related views—“the technology sector will keep trending higher for the long term; buy on pullbacks is an opportunity.” They went all-in and added margin financing to heavily hold two storage-chip stocks, Demingli and Jiangbo Long. Today, their account was directly liquidated, with total losses exceeding 10 million yuan, saying their life has been completely destroyed.

The user angrily accused the relevant team of collecting membership fees only, with no bottom line in its viewpoints, causing ordinary investors massive financial losses. Meanwhile, AI robots in the group quickly and automatically pushed reminders, saying that posting is forbidden in the group, and instructing users to message the assistant privately if they have any issues, avoiding a public response to investors’ demands for defending their rights over losses.

As of now, the Ren Zeping side has not responded.

Reporters learned that currently, multiple paid financial courses are listed on Ren Zeping’s Douyin storefront, including a 59-yuan annual card, a 398-yuan hands-on course, and a 2,980-yuan annual macro compilation. The paid member group is the course-supported private-domain service, and commercial monetization is achieved through the membership fees.

Reporters consulted the customer service of Zeping Macro’s store under a username and found out that after consumers purchase the 2,980-yuan annual course compilation, they will be added by an assistant into the VIP member group. Ren Zeping himself does not participate in the group; instead, group staff only organize and synchronize his various market viewpoints.

The incident quickly sparked heated discussion in the market: there is a huge risk gap between the macro and industry views produced by paid financial influencers and the practice of trading with leverage by ordinary investors. If retail investors blindly use margin leverage and follow bullish statements for a single track, they are likely to incur massive losses. At the same time, the VIP paid group’s operating approach—publicly disabling speech and having the person involved avoid directly facing users—has also led many investors to question the responsibility boundaries of such paid financial advisory services.

That said, speaking plainly, I really don’t understand why these members can’t see it clearly—if he’s really that great at stock trading, why would he still sell courses? $SOL

Has the “middle-class standard” piano market collapsed? Turns out what was once 30,000 RMB is now 3,000—being urgently sold for almost nothing, even scrap dealers won’t take them. The owner could only bitterly laugh: “On this one street of piano shops, four-fifths have closed.” Of piano resellers, 60% have switched industries. With shared practice rooms and AI accompaniment practice taking the stage, even old pianos can be “reborn.”

It’s not that pianos are saturated; it’s that people realized ordinary families really don’t need so many little princesses and princes. Lessons turned out to be useless—dreams shattered. When a delivery rider became famous for playing the piano, everyone finally realized the piano was never some “premium” standard for an elite group—it’s just a musical instrument for ordinary people.

Back then, the guinea pigs are now entering society, and they find that knowing how to play the piano doesn’t prevent them from tightening screws at work. Another core reason the piano market has crashed is that piano certification/exams no longer add points to college entrance exams; the other reasons are all minor, peripheral factors. $BNB

Why do I feel like Old Te is kind of backing down and currying favor? Yesterday, Trump posted on social media saying that Iran has allowed an American citizen to leave the country. The U.S. “thanks Iran for this kind gesture.”

Trump said the American citizen was “mistakenly detained” in December 2024 during the Biden administration. She has safely left Iran and is in good condition. $TRUMP

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

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

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

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

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

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

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

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

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