Important information last night this morning (July 20-July 21)

A New Wallet Spends 2,082 ETH to Purchase 45 CryptoPunks NFTs  

According to Onchain Lens monitoring, a newly created wallet spent 2,082 ETH (worth $7.79 million) to purchase 45 CryptoPunks NFTs. Additionally, the whale spent 60.5 ETH (worth $227,000) to buy a Chromie Squiggle NFT created by @ArtOnBlockchain.  

Executive Warning: JPMorgan’s Data Fee Plan Could “Devastate” Crypto and Fintech Startups  

Fortune reported that last month, when JPMorgan informed fintech companies of its plan to charge fees for accessing its customers’ bank account data, the move sparked strong reactions across multiple sectors of the financial industry. According to four industry executives, this could be a blow to the fintech industry, potentially having a devastating impact on early-stage startups, including those in the crypto sector. However, analysts believe established fintech companies like PayPal and Block (formerly Square) may not be significantly affected by the fee adjustment. Under the plan, the bank could charge data aggregators a fee whenever consumers transfer funds from JPMorgan to crypto accounts or third-party services like Robinhood. Crypto and fintech companies typically use aggregators like Plaid or MX to access customer account data from major financial institutions like JPMorgan. So far, banks have not charged fintech companies, but this could change. It is widely expected that aggregators will pass the new fees on to fintech clients, and some may even pass the costs on to consumers.  

Insider: Pump.fun to Distribute PUMP Airdrop on July 24  

According to crypto KOL Downsin Jerome, Pump.fun co-founder and CEO Alon Cohen stated that the PUMP airdrop will begin at 23:00 Beijing time on July 24, 2025, for eligible active Solana wallets.  

Whale Transfers 400 BTC to Binance in Past 6 Hours, Worth ~$47.11 Million  

On-chain analyst Yu Jin reported that a whale who accumulated 1,500 BTC between 2023 and 2024 has begun taking profits: in the past six hours, they transferred 400 BTC ($47.11 million) to Binance. The whale’s average accumulation price was ~$56,418, and they are now sitting on a profit of $92 million (+108%). They still hold 1,100 BTC ($128 million).  

Ethereum Launches "The Torch" NFT to Mark Its 10th Anniversary, Open for Public Minting on July 30  

Ethereum’s official X account announced the launch of "The Torch" NFT, paying tribute to the people and values that shaped Ethereum’s development over its first decade and supporting its future growth. The NFT will symbolically be passed between wallets and eventually burned to commemorate Ethereum’s 10th anniversary. On July 30, everyone will be able to mint a commemorative NFT.  

Bitcoin Core Developers Fix 5-Year-Old Disk-Filling Vulnerability  

Protos reported that Bitcoin Core developers fixed a disk-filling vulnerability this month that had plagued full-node operators for five years. The vulnerability allowed attackers to force nodes’ hard drives to continuously write redundant data via malicious log commands (e.g., LogPrintf, LogInfo, LogWarning, or LogError), severely impacting HDD nodes and even degrading SSD performance. The fix was submitted via PR 32604 and merged into the main branch by veteran developer Gloria Zhao after passing 19 checks with no objections. Developers hope the patch will eliminate disk-filling attacks once the new Bitcoin Core version is widely adopted. The latest Bitcoin Core version is 29.0, released on April 14. Core versions are typically updated every few months, and full-node operators must manually upgrade their software. About 16% of node operators are currently running version 29.0, while others are on older versions.  

As Ethereum Gas Limit Rises, Vitalik Stresses "Safe" Scaling  

The Block reported that validators representing nearly half of staked Ethereum support raising the gas limit, leading to an increase in the gas limit per block. This will improve Layer 1 transaction throughput. On Sunday afternoon, multiple blocks proposed raising the gas limit to over 39 million units, an 8% increase from the previous 36 million. This marks the first increase in three years from the 30 million cap. Proponents of raising the limit argue that excessive increases could make the chain too large, complicating validation and downloads for individual node operators, but gradual increases are reasonable as technology advances. Once validators signal support, the limit automatically adjusts, with each block able to change the limit by ~0.1% of the previous total. According to gaslimit.pics, ~48% of staked Ethereum currently runs on clients targeting a gas limit of 45 million units or higher. Ethereum co-founder Vitalik Buterin commented on the move, noting, "Nearly 50% of staked ETH is voting to raise the Layer 1 gas limit to 45 million." He also praised Geth’s recent update, which reduced archive node storage by ~90%, calling it "the hard work of the Geth team making such scaling increases safe and feasible."  

Jack Dorsey’s Block to Join S&P 500 on July 23  

The Block reported that Block Inc, the payment platform founded by Twitter co-founder Jack Dorsey, will join the S&P 500 on July 23. After the news was confirmed late Friday, the stock rose 10% in after-hours trading. Block operates multiple businesses in the digital asset ecosystem, including Bitkey, a self-custody wallet for Bitcoin, and Proto, a suite of Bitcoin mining products and services. Last summer, Block began investing 10% of its monthly Bitcoin profits into BTC and open-sourced its financial blueprint for others to follow. Earlier reports on July 19 mentioned Block’s inclusion in the S&P 500 but did not specify a date.  

Whale "The White Whale" Makes ~$30 Million Profits from ETH and SOL Longs in Past Week  

Lookonchain reported that the whale "The White Whale" made nearly $30 million in profits from ETH and SOL longs on HyperLiquid using four wallets over the past week.  

Bitcoin Treasury Capital CEO: Learned About Bitcoin While Studying Chinese in Shanghai  

Bitcoin Treasury Capital CEO Christoffer De Geer posted on X that he first learned about Bitcoin in 2013 while studying Chinese in Shanghai and needing to send money to Sweden. As a Swede in China, he found a 12-year-old Bitcoin miner and began learning about wallets, keys, UTXOs, block explorers, and the anonymous figure Satoshi Nakamoto. Today, Bitcoin Treasury Capital holds 156 BTC, has secured a SEK 200 million equity financing deal with investors, and is approved for trading on the Frankfurt Stock Exchange under the ticker X4L. The company will continue its Bitcoin financial strategy.  

UK Media: London Stock Exchange Group Considers 24-Hour Trading  

The Financial Times reported that the London Stock Exchange Group is considering introducing 24-hour trading. Due to growing demand from retail investors outside normal trading hours, exchanges are racing to extend trading times. Sources said LSEG is studying the feasibility of extended hours, including technical and regulatory implications. One source noted that the exchange is "seriously considering it, whether it’s 24-hour trading or extended hours," adding that the group is engaged in "significant commercial, policy, and regulatory discussions" on this "ongoing issue." Another source said the exploration is part of broader discussions on potential new products and services.  

Ethereum Rises to December 2023 Highs, Over 75K Liquidated in Crypto in 24 Hours  

Following Bitcoin’s surge, Ethereum and other cryptocurrencies also rallied sharply. At press time, Ethereum rose above $3,760, its highest level since December 2023. Data shows that over $200 million was liquidated in crypto in the past 24 hours, with more than 75,000 traders affected.  

US Commerce Secretary Lutnick: Powell Keeps Rates Too High, August 1 Is Tariff Deadline  

Jin Shi reported that US Commerce Secretary Lutnick stated Powell is keeping interest rates too high, August 1 is the deadline for tariffs, small countries will pay a 10% baseline tariff, and Trump is expected to renegotiate the USMCA. He expressed confidence in reaching a deal with the EU.  

Ohio Public Employees Retirement System Bought 21,499 More Strategy Shares in Q2  

Barron’s reported that the Ohio Public Employees Retirement System (OPERS), one of the largest US public pension funds, disclosed in an SEC filing that it bought more Strategy (formerly MicroStrategy) shares in Q2. Data shows OPERS purchased 21,499 additional shares, bringing its total holdings to 101,880 shares at the end of Q2. As the largest corporate Bitcoin holder, Strategy has been selling preferred shares to raise funds for more BTC purchases. Its stock rose 40% in H1 2025 and 4.7% in Q3. OPERS manages $155.6 billion in assets, ranking as the 14th-largest US public fund.  

Ethena Points Leaderboard Top Whale Holds 839.5B Ethena Points, Eligible for ~21.94M ENA Worth ~$10.675M  

On-chain analyst Ai Yi (@ai_9684xtpa) reported that the top whale on the Ethena points leaderboard bought nearly 450M sUSDe YT (worth ~$5M) expiring on 07.31 during ENA’s price drop from 05.21 to 06.03. Based on the current sUSDe APY of 9.74%, this generates ~$120K in daily interest. The whale now holds 839.5B Ethena points (partly from YT), 1.49x more than the second-place holder. Under Season 4’s airdrop rules (minimum 3.5% of total supply), they could receive ~21.94M ENA (~$10.675M).  

Analysis: Every 10K BTC Added by ETFs Could Push Price Up 1.8%, $150K Possible by October  

Decrypt reported that research firm Cooper Research found that as investors pour funds into Bitcoin ETFs, a price surge seems inevitable. Data shows that for every 10K BTC added to ETF holdings, Bitcoin’s price rises by an average of 1.8%. Analysts noted that based on multiple indicators, Bitcoin appears poised for another major rally. Leverage-driven market frenzy is fading, and Bitcoin’s price action may follow a more moderate path, potentially reaching $140K by September and $150K by early October.  

Michael Saylor Hints at Upcoming Strategy Bitcoin Purchase Data  

Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor posted on X, “Stay Humble. Stack Sats.” Typically, he discloses Strategy’s Bitcoin purchase data the day after such posts.  

Data: AVAIL, VENOM, ALT Tokens to See Large Unlocks Next Week, AVAIL Unlock Worth ~$18.9M  

Token Unlocks data shows that AVAIL, VENOM, and ALT will undergo significant unlocks next week:  

- Avail (AVAIL): ~972M tokens (38.23% of circulating supply) at 16:00 Beijing time on July 23, worth ~$18.9M.  

- Venom (VENOM): ~59.26M tokens (2.84% of circulating supply) at 16:00 on July 25, worth ~$13.4M.  

- AltLayer (ALT): ~240M tokens (6.39% of circulating supply) at 18:00 on July 25, worth ~$8.9M.  

- Sahara AI (SAHARA): ~84.27M tokens (4.13% of circulating supply) at 20:00 on July 26, worth ~$6.9M.  

- SOON (SOON): ~41.88M tokens (22.41% of circulating supply) at 16:30 on July 23, worth ~$6.1M.  

Hong Kong Financial Secretary: AI Positioned as Key Industry  

Hong Kong Financial Secretary Paul Chan Mo-po wrote in his blog that the 35th Hong Kong Book Fair, running for seven days, opened on the 16th at the Hong Kong Convention and Exhibition Centre, featuring a “Hong Kong Innovation and Technology Flash Exhibition Zone” for the first time. The government has positioned AI as a key industry, supporting basic research, fostering commercialization, nurturing local startups, attracting global tech firms, accelerating the Northern Metropolis development, and strengthening collaboration with Greater Bay Area cities. Hong Kong’s innovation and technology sector now has a solid blueprint, and the government will stay focused on its goals, providing young people with diverse, high-quality career opportunities.  

Hong Kong FSDC Chairman: Stablecoins Should Not Be for Speculation, But a Long-Term Game  

The Hong Kong Economic Times reported that Hong Kong Financial Services Development Council (FSDC) Chairman Peter Wong Pak-to recently stated at an annual report press conference that stablecoins should not be for speculation but a long-term game. Asset tokenization is a lengthy process, and stablecoins should serve a stabilizing role rather than being viewed with short-term expectations. He noted that Hong Kong is progressing faster than other financial centers. Wong added that stablecoins are part of Hong Kong’s financial market digitization, enabling tokenized transaction intermediaries. The next step will involve tokenizing various assets, but full tokenization will take time.  

VanEck, Others Urge SEC to Approve Ethereum ETF Staking Applications FIFO, Not Batch with BlackRock  

DL News reported that BlackRock’s move this week to add staking to its iShares Ethereum Trust has reignited debate over the SEC’s batch approval process. VanEck, 21Shares, and Canary Capital have urged the SEC to consider a first-in, first-out (FIFO) approach rather than batch approvals with later applicants like BlackRock. Bloomberg ETF analyst James Seyffart posted on X that Ethereum ETF staking applications “will take time to finalize,” with early applicants facing a final deadline in late October 2025, while BlackRock’s deadline is around April 2026. However, he believes approvals could come as early as Q4 2025.  

Whale/Institution Possibly Bought $50M ETH in Past 30 Minutes  

On-chain analyst Yu Jin reported that a whale/institution may have bought $50M worth of ETH in the past 30 minutes. The entity transferred 50M USDT to Binance and withdrew 13,462 ETH at an average price of $3,714.  

James Wynn Deposits 536,573 USDC to HyperLiquid, Opens 25x Leveraged ETH Long and 10x PEPE Long  

Lookonchain reported that James Wynn deposited 536,573 USDC to HyperLiquid to open a 25x leveraged ETH long and a 10x leveraged PEPE long. Current long positions:  

- 3,269 ETH ($12.12M)  

- 8.1216B kPEPE ($11.28M)  

US Treasury Secretary Besent: Dollar Going Onchain, GENIUS Act to Cement USD’s Reserve Status  

US Treasury Secretary Besent posted on X that blockchain technology will power next-gen payments, and “the U.S. dollar is coming onchain.” Thanks to Trump’s leadership and Senator Bill Hagerty’s work in Congress, the GENIUS Act will help cement the USD’s status as the global reserve currency for generations. Deputy Treasury Secretary Michael Faulkender added that with the GENIUS Act providing legal clarity for stablecoins, the US now has faster, cheaper, and safer transactions, boosting global adoption of USD-backed digital payments and reinforcing its commitment to becoming the world’s crypto hub.  

AguilaTrades Closes 6,832 ETH and 1,134 BTC Shorts, Loses $1.1M  

Lookonchain reported that whale AguilaTrades closed 6,832 ETH ($25.15M) and 1,134 BTC ($134M) short positions, losing $1.1M. They still hold a large ETH short position (~50,000 ETH, $186M), with unrealized losses exceeding $7M.  

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