Indonesia to Increase Cryptocurrency Trading Tax from August
Reuters reported that "Indonesia will raise its cryptocurrency trading tax starting from August 1st (local time). Particularly, a higher tax rate will be applied when using overseas exchanges." Accordingly, the trading tax will be raised from 0.1% to 0.21%, and for overseas exchanges, from 0.2% to 1%. However, the value-added tax (VAT) previously imposed on cryptocurrency purchases will be abolished. Previously, a VAT of 0.11-0.22% had to be paid when purchasing cryptocurrencies. Additionally, Indonesian authorities have raised the VAT rate for cryptocurrency mining from 1.1% to 2.2%.
WSJ: "Fed Internal Divisions Severe Under Trump's Pressure"
The Wall Street Journal reported that "as Donald Trump's pressure intensifies, internal divisions within the Federal Reserve have reached a critical level." The media explained that "Michelle Bowman and Christopher Waller are expected to cast dissenting votes against interest rate freezes. This is happening for the first time since 1993. Interestingly, both were appointed by President Trump. Meanwhile, Waller is being discussed as a potential next Fed chair." The Fed is scheduled to announce interest rates after concluding the Federal Open Market Committee (FOMC) meeting at 3 PM (Korean time).
Strategy Records $2.8 Billion in Unrealized BTC Profits
Look On Chain reported that Strategy's unrealized Bitcoin profits are currently at $2.818 billion. Strategy previously purchased 21,021 BTC at an average price of $117,256 through an IPO of STRC preferred shares. Currently, Strategy holds 628,791 BTC with an average price of $73,277.
Marathon Holdings Q2 Revenue Up 64% YoY... Quarterly Highest
U.S. cryptocurrency mining company Marathon Holdings (formerly Marathon Digital, MARA) announced that its second-quarter revenue increased 64% year-on-year to $238 million. This is the highest quarterly record. During the same period, net profit surged 505% to $808 million, which is attributed to an unrealized profit of $1.2 billion due to BTC price increases. Additionally, Marathon Holdings noted that it currently holds BTC worth $5.87 billion.
Tether and Bitfinex Joint Venture Twenty-One Holds 43,514 BTC
Twenty-One Capital, a Bitcoin investment company jointly established by Tether, Bitfinex, and Canto Fitzgerald, opened its official website and announced that it currently holds 43,514 BTC. Excluding spot ETFs, Twenty-One becomes the third holding company after Strategy (628,791 BTC) and Marathon Holdings (50,000 BTC).
Cryptocurrency AI Startup GAIB Raises $10 Million Investment
GPU token-focused cryptocurrency AI startup GAIB announced through its official X that it raised $10 million in a funding round led by Amber Group. While Asian-based investors participated in the investment, their names were not disclosed. The investment funds are set to be invested in tokenized GPUs within the GAIB platform. GAIB is building a financial infrastructure aimed at autonomous economy and supporting on-chain computing asset solutions.
Manifold Raises $10.5 Million Investment
Decentralized AI infrastructure company Manifold announced raising $10.5 million in a Series A funding round. The investment was led by OSS Capital, with participation from DCG and several individual investors. The funds will be used to expand commercial utilization of Targon, an AI cloud service based on BitTensor (TAO).
Smarter Web Company Purchases Additional 225 BTC
UK-based web development company Smarter Web Company (SWC) announced that it purchased an additional 225 BTC. It currently holds 2,050 BTC.
Ethereum Foundation Transfers 1,000 ETH Internally
According to Arkham Data, the estimated Ethereum Foundation address transferred 1,000 ETH ($3.83 million) to an internal address (starting with 0xbC9a) 18 hours ago. The address currently holds 13,531 ETH ($370 million). This address had previously transferred 1,000 ETH to an internal address on the 16th and 28th.
Anchorage Digital Unstakes $30.25 Million in ETH
Blockchain analyst ai_9684xtpa reported that the estimated Anchorage Digital address unstaked 8,052 ETH ($30.25 million) from Lido 11 hours ago. Of this, 7,576 ETH was staked in August 2023. This address is estimated to have gained approximately $15.79 million in capital gains due to ETH price appreciation.
Revolut Considering U.S. Bank Acquisition
The Financial Times (FT) reported that London neobank Revolut is reviewing the acquisition of a local bank to secure a U.S. banking license.
Tiger Research: "BTCFi is an Inevitable Trend... Institutional Demand ↑"
Asian Web3 research and consulting firm Tiger Research published a report titled 'BTCFi: Why the Combination of Bitcoin and DeFi is an Inevitable Trend'. The report analyzed that "BTCFi is a model that utilizes Bitcoin in DeFi lending, collateral, staking, etc., to generate revenue. Currently, $1 trillion worth of Bitcoin remains unused and stored, and institutions are expanding their demand to convert this into revenue-generating assets. Various BTCFi protocols like Bounce.bit, Babylon, and Lombard are expanding, with Taproot, BitVM, and BRC-20 constructing the infrastructure. BTC is used in DeFi after bridge and tokenization processes, and the revenue generation structure is becoming increasingly sophisticated." The report also included contents such as ▲BTCFi growth accelerated by increasing institutional demand ▲BTCFi for institutions ▲BTCFi technology stack ▲BTCFi utilization stage-by-stage flow.
Binance to Delist Two Spot Pairs
Binance announced that it will delist XVS/TRY and YGG/TRY spot trading pairs at 12 PM Korean time on August 1st.
BTC Perpetual Futures Long/Short Ratio of Top 3 Exchanges
Based on the unsettled contract, the long and short position ratios of BTC perpetual futures in the world's top 3 cryptocurrency futures exchanges in the last 24 hours are as follows.
All exchanges: Long 48.63% / Short 51.37%
1. Binance: Long 47.02% / Short 52.98%
2. Bybit: Long 49.07% / Short 50.93%
3. Gate.io: Long 52.25% / Short 47.75%
24-hour cryptocurrency perpetual futures forced liquidation scale
The recent 24-hour cryptocurrency perpetual futures forced liquidation scale and liquidation ratio are as follows.
BTC liquidation scale: $35.49 million, liquidation ratio: Long 65.33%
ETH liquidation scale: $72.66 million, liquidation ratio: Long 60.76%
XRP liquidation scale: $12.66 million, liquidation ratio: Long 75.15%
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