Crypto Morning Post: The US and the EU are close to reaching a 15% tariff agreement, and Block is officially included in the S&P 500 index

Author: TechFlow

Yesterday's market dynamics

The United States and the European Union are close to reaching a 15% tariff agreement

According to the Financial Times, the United States and the European Union are close to reaching a 15% tariff agreement, according to the Financial Times.

Bitcoin treasury company Block has officially been included in the S&P 500 index

According to CNBC, payments giant Block Inc. will officially join the S&P 500 index today. Block currently holds 8,584 bitcoins in its balance sheet.

BitMine Launches NYSE Options Trading, Plans to Acquire 5% of the Total ETH Supply

BitMine Immersion (ticker BMNR), an Ethereum inventory and cryptocurrency mining company linked to Peter Thiel, has opened trading of common stock options on the New York Stock Exchange and disclosed plans to acquire 5% of the total ETH supply, The Block reported.

Aspecta announced tokenomics: the total supply is 1 billion, with 45% allocated to community and ecological development

According to the official announcement, Aspecta has announced tokenomics with a total supply of 1 billion, including:

45% is allocated to the community and ecosystem (7.6% airdropped to users and community supporters at TGE; 6.7% is allocated to the market and broader blockchain users; 0.7% is allocated to pre-market price discovery; 30% allocated to community and ecosystem growth; ）；

20% is allocated to investors;

15% is allocated to early contributors;

3% for liquidity;

17% is allocated to the foundation.

Aspecta will open airdrop checks at 15:00 Beijing time on July 24, and airdrops will be available for claim at 18:00 TGE.

Analysis: The batch unstaking of 620,000 ETH may be related to the large withdrawal of ETH deposits on the Aave platform, which led to a surge in borrowing rates

According to on-chain analyst Aunt Ai (@ai_9684xtpa), citing an analysis by crypto blogger darkpool, the batch unpledge of 620,000 ETH may be related to the soaring borrowing rate caused by the large withdrawal of ETH deposits on the Aave platform. In a short period of time, a large number of Aave ETH deposits were withdrawn, causing borrowing interest rates to soar, and revolving loan players were forced to redeem stETH to deleverage from eating interest rate differentials to losses, leading to the current situation

Aave ETH borrowing APR once surged to 10%
Lido $stETH currently has an extended waiting period for withdrawal to 21 days (usually within a week)
There is still a discount of nearly 4/1,000 for on-chain stETH to ETH

Regarding the implementation of revolving loans, Aave's collateralization ratio for ETH is 93%, which means that arbitrage players can even use up to 14x leverage to earn spread yields, and under normal circumstances, the annualized rate of return on principal can reach ~7%.

Previously, the amount of ETH to be withdrawn reached 620,000, and the net redemption volume was about 271,000.

2 billion PUMP tokens are suspected of being transferred from Binance Hot Wallet back to the project's associated address

According to on-chain analyst Aunt Ai (@ai_9684xtpa), 2 billion PUMP tokens are suspected of being transferred from Binance Hot Wallet back to the project's associated address.

It is reported that a week ago, this part of the token was recharged into Binance and then transferred to the address 9SnqX... seSGz, and transferred back from this address in batches half an hour ago. The analyst said that tomorrow is the expected date for the airdrop to be distributed.

Arthur Hayes: Predicts that Bitcoin will reach $250,000 and Ethereum will reach $10,000 by the end of the year

According to Cointelegraph, Arthur Hayes predicts that the price of Bitcoin will reach $250,000 by the end of the year, and Ethereum will touch $10,000. Hayes noted that the Trump administration's wartime economic policies are creating credit growth flowing into the cryptocurrency market, and the pattern of stablecoin issuers buying Treasury bills to finance government deficits will further drive the market up.

FTX: The next round of distributions is scheduled for the end of September, reducing the disputed claims reserve by $1.9 billion

FTX announced that it will begin the next round of fund distribution on September 30, 2025, with a record date of August 15. This distribution is intended for customers who are allowed to claim, general unsecured claim holders, and facilitated claim holders who have not previously received the distribution.

Meanwhile, the bankruptcy court has approved FTX to reduce its disputed claims reserve from $6.5 billion to $4.3 billion, releasing about $1.9 billion in funds for this round of distributions.

The distribution will be made through three service providers: BitGo, Kraken, and Payoneer. FTX reminds users to complete KYC verification and tax form submission, and to be cautious of possible phishing scams.

Crypto mining company MARA will issue $850 million in convertible notes to buy more Bitcoin

According to the official announcement, Bitcoin mining company MARA Holdings announced the issuance of $850 million in 0% convertible notes to purchase more Bitcoin (as well as repay $50 million in old notes and for general corporate purposes).

MEI Pharma completes $100 million private placement to include Litecoin in its financial reserves

MEI Pharma (NASDAQ: MEIP) announced the completion of a $100 million private placement funding round with plans to use the funds to purchase Litecoin (LTC) as a treasury reserve asset, according to BusinessWire. The move reportedly makes MEI the first company to list on a national exchange and hold Litecoin. Litecoin founder Charlie Lee joins MEI's board of directors, and digital asset institution GSR has been hired as a financial management advisor. The financing issued approximately 29.24 million shares at $3.42 per share, with participants including the Litecoin Foundation and a number of investment institutions.

Market dynamics

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