1. Bloomberg: Chinese Regulators Require Securities Firms to Reduce Stablecoin Discussions
Some leading Chinese securities firms and think tanks received guidance from Chinese financial regulators in late July and early this month, urging them to cancel seminars and stop circulating research reports on stablecoins. Regulators are also concerned that stablecoins could become a new tool for fraudulent activities in mainland China.
2. Founder of Huaxing Capital, Bao Fan, Reportedly Reappears and Potentially Regains Freedom
Bao Fan, founder of Huaxing Capital, has recently reappeared after being taken away for investigation in February 2023, seemingly regaining his freedom. This year, Huaxing Capital plans to expand its Hong Kong SFC licenses 1, 4, and 9 to digital asset businesses and increase investment in Web3, RWA, and other infrastructure.
3. White House Issues Order to Expand 401(k) Investment Scope, Including Digital Assets and Alternative Assets
The White House announced that President Donald J. Trump signed an executive order allowing 401(k) investors to access alternative assets such as private equity, real estate, and digital assets to enhance returns and diversify risks. The order requires the Labor Secretary to review and clarify fiduciary responsibilities and procedures for alternative asset investments in ERISA-governed 401(k) and other defined contribution plans, collaborate with federal agencies like the Treasury and SEC, and instruct the SEC to modify regulations to facilitate the allocation of such assets in retirement savings plans.
4. Pumpfun Establishes Glass Full Foundation to Inject Liquidity and Accelerate Ecosystem Development
Pumpfun announced the establishment of the Glass Full Foundation, which will inject substantial liquidity into the most vibrant and promising communities, focusing on supporting core community projects. The foundation aims to accelerate growth in the Solana ecosystem, currently providing initial support to multiple projects and continuing to deploy funds. According to @Adam_Tehc's dashboard, Pumpfun: Glass Full Foundation has spent $1.69 million purchasing tokens launched by Pumpfun, with the largest holdings in TOKABU and HOUSE. The foundation's wallet still has $350,000 waiting to be invested.
5. Animoca Brands Collaborates with Standard Chartered and HKT to Establish Anchorpoint, Applying for Hong Kong Stablecoin Issuer License
Animoca Brands announced the formation of a joint venture, Anchorpoint Financial Limited, with Standard Chartered Bank (Hong Kong) and HKT, planning to apply for a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA). Anchorpoint formally expressed its application intention to the monetary authority on August 1st, when the Stablecoin Ordinance took effect. Previously, the three parties have been participating in the HKMA's stablecoin issuer "sandbox program" since July 2024.
