Author: 行政
The Supreme Court gave Donald Trump a pretty direct answer in February: the emergency law he had used to tax imports from nearly everywhere didn’t give him the authority to impose tariffs.However, Washington didn’t see that as a locked door and treated it more like a disappointing result from a key-cutting machine. The administration returned to the federal statute book, found several older trade powers that the Court had left untouched, and spent the next five months rebuilding the tariff system on a completely different foundation.By July 24, goods from 60 trading partners were again passing through an American tariff…
New York has asked a Manhattan state court to permanently block prediction-market exchange Kalshi from offering what the state calls unlicensed sports wagering to New Yorkers, escalating a fight over whether federal commodities oversight shields the platform from state gambling laws.A verified petition dated July 31 asks the court to order Kalshi to identify affected customers and itemize their wagers, losses and the company’s gains. The state also seeks customer restitution, damages, disgorgement, prejudgment interest and costs.The most aggressive demands are a penalty equal to three times Kalshi’s alleged gains and $100,000 for each unauthorized offer or attempt to offer…
Ethereum outpaced Bitcoin in July as stronger investment-product demand and corporate accumulation powered its first sustained relative advance in months.Data from CryptoSlate shows that ETH gained 19% during the month, climbing as high as $1,970 before retreating to $1,868 as of press time. Bitcoin rose 8% over the same period but repeatedly failed to break the $65,000 level.The divergence pushed the ETH/BTC ratio above 0.030 for the first time in three months before it eased to 0.02962. The pair has risen more than 10% over the past month, reflecting Ethereum’s widening performance advantage.ETH/BTC Ratio (Source: TradingView)The rebound has strengthened expectations…
A $20 billion AI hedge fund gained 439% through June, lost roughly two-thirds of its value in July, and sold most of a $16 billion public-stock portfolio as leverage turned against it. The collapse offers a warning for Bitcoin: when Wall Street needs cash quickly, the first asset sold may not be the one that caused the loss, but the one still trading.Leopold Aschenbrenner built one of Wall Street’s most persuasive investment pitches. The former OpenAI researcher argued that artificial intelligence was advancing fast enough to reshape energy, national security, computing, and nearly every large industry, then built a hedge…
Leveraged funds’ combined net bearish position across CME’s standard and micro Bitcoin futures narrowed by 5,566.5 BTC-equivalent between July 21 and July 28.The Commodity Futures Trading Commission’s futures-only report, released at 3:30 p.m. ET on Friday, July 31, captured positions as of Tuesday, July 28. It showed asset managers moving the other way: their combined directional net weakened by 2,204.3 BTC-equivalent over the same week.The split in the numbersThe two groups remained on opposite sides of the market after those changes:Trader groupJuly 21–28 change in directional netJuly 28 directional netLeveraged funds5,566.5 BTC less net bearish33,712.3 BTC net shortAsset managers2,204.3 BTC…
On April 9, 2025, Donald Trump told his Truth Social followers that it was “a great time to buy,” then announced a 90-day pause on many of his new tariffs a few hours later. The S&P 500 finished the day 9.5% higher, Bitcoin gained more than 5%, and crypto traders holding short positions lost $374 million as markets repriced a policy change delivered through the president’s social-media account.The chain of events drew calls for an investigation into whether anyone had traded with advance knowledge, but it also revealed a deceptively simple but potentially very lucrative commercial opportunity. When one account…
Lite Strategy, a Nasdaq-listed company that holds Litecoin as its primary reserve asset, spent about $5.4 million repurchasing roughly 4.9 million shares through July 17. The company funded the purchases with an undisclosed mix of LTC sales and covered-call premiums.The transaction shrank Lite Strategy’s reported Litecoin holdings but appears to have lifted LTC backing per outstanding common share by about 1.7%.In a July 30 filing, the company said it paid an average of $1.11 and retired about 13% of the shares outstanding when the program began, without using debt. It reported 819,070 LTC and 31,882,648 outstanding common shares as of…
U.S. spot Bitcoin funds posted net outflows of $265.4 million on July 31, reversing a $233.1 million inflow the previous session. Ethereum showed a $9 million net inflow, but only because BlackRock’s staked Ethereum fund drew more than the group gained overall.Every Bitcoin product displayed in Farside’s July 31 table was flat or negative. BlackRock’s IBIT lost $122.7 million, Fidelity’s FBTC lost $54.8 million, and Grayscale’s GBTC lost $52.6 million. BITB and ARKB lost another $17.8 million and $17.5 million, respectively. Related ReadingBitcoin ETFs just broke a brutal $500M losing streak, but the entire recovery is an illusion propped up…
Friday, July 31, was the final trading day for six Bitwise option-income ETFs. Shareholders still holding shares as of Aug. 3 face automatic cash redemption rather than an exchange sale.The Bitwise Funds Trust board voted June 30 to liquidate ICOI, IMRA, IMST, IGME, ICRC, and IETH, according to an SEC prospectus supplement.The products use option-income strategies tied to Coinbase, Marathon Digital, Strategy, GameStop, Circle, and Ethereum. The funds were set to stop accepting creation and redemption orders after the July 31 close.Bitwise’s corrected timetable puts the final net asset value calculation on Aug. 7 and expects proceeds to reach investors…
An investor who owns Bitcoin through a brokerage account can finish work on Friday, check the closing price of a spot ETF, and assume the position is done moving for the week.Bitcoin, however, has other plans.Between Friday’s close and Monday’s opening bell, Donald Trump can announce a tariff, a war can escalate, oil can jump, a bank can fail, or a government can change the outlook for inflation and interest rates. Bitcoin processes each development across global exchanges while US-listed ETF shares remain outside their normal session.So when Wall Street finally reopens, the fund doesn’t resume where it finished: its…