Weekly roundup of Asia’s hottest crypto news

英伟达市值首次超苹果，成全球第二！

Bybit Faces Internal Panic as Chinese Registration Opens Amid Regulatory Uncertainty

Bybit navigates regulatory challenges by shifting operations from Singapore to Dubai, reopening registration for Chinese users amidst concerns, while facing accusations of operating without a license in France.

Vitalik Buterin Criticizes the Celebrity Coin Craze: Respect Requires Meeting At Least Three Criteria

Addressing the community's view that "Ethereum currently lacks a clear overall development direction," Ethereum founder Vitalik Buterin responded yesterday and also expressed his strong dissatisfaction with the recent celebrity coin experiments.

Title: What is Large-Scale Adoption in Web3 Social Networks? A Case Study of the Viral NOTCOIN and UXLINK

Mass adoption in the cryptocurrency field has long been a narrative troubling the market. Many applications lose users due to the collapse of their economic models after achieving mass adoption. This article uses UXLINK and NOTCOIN as case studies to analyze the requirements that today's popular social projects need to meet.

Bitcoin SV Holders Sue Binance, Kraken in $10 Billion Collusion Case - Here's What Happened

A $10 billion lawsuit in the UK Court of Appeal pits Bitcoin SV (BSV) holders against major exchanges, alleging collusion and missed fortunes following BSV's delisting in 2019. The case, involving six defendants and a complex legal battle, could reshape how cryptocurrency exchanges operate and set precedents for future disputes.

South Korea's New Law Requires Exchanges to Pay Interest on Fiat Custodied by Banks, Upbit to Earn an Extra 50 Billion KRW Annually

The Virtual Asset User Protection Act of South Korea will take effect on July 19. Among its provisions, one law mandates that banks entrusted by cryptocurrency exchanges must pay interest on crypto deposits. This law significantly impacts K-Bank, the digital bank entrusted by Upbit, the largest exchange in South Korea.

Controversy Over China’s First Criminal Case Involving Issuance of Virtual Currency: Does Withdrawal of Liquidity Leading to Losses Constitute Fraud?

China has seen its first criminal case involving the issuance of virtual currency. The case has sparked controversy over whether withdrawing liquidity, resulting in trading losses, constitutes fraud.

Telegram Advances Toward Western Web3 'WeChat' Status with Stars as In-App Currency

Telegram has introduced Telegram Stars, an in-app currency for purchasing digital goods and services within the platform, and developers can convert these Stars to TON cryptocurrency via Fragment. This system reduces commission fees, incentivizing developers to create and promote apps on Telegram, furthering its ambition to become a comprehensive super app.

Iggy Azalea’s MOTHER Token Breaks $200M Market Cap, While Vitalik Buterin Slams Celeb Tokens: Will its Momentum Last?

Within a week of its launch, Iggy Azalea's MOTHER token achieved a market cap exceeding $200M. However, the recent trend of celeb meme coin releases has drawn criticism from Vitalik Buterin. Will MOTHER’s momentum last?

Will AI Companies and Data Centers Massively Acquire Bitcoin Mining Enterprises? JPMorgan: They Desperately Need Cheap Electricity

JPMorgan stated in its latest report that Bitcoin mining enterprises with attractive electricity contracts might become potential acquisition targets for hyperscale data centers and artificial intelligence (AI) companies.