VC Roundup: Investments in Web3 startups top $1B in July

[US SEC Revokes or Freezes 14 Cryptocurrency Cases After Trump's Return to the White House] The US SEC relaxed cryptocurrency enforcement after Trump's return to the White House, revoking 7 cases and freezing or proposing favorable settlement terms for another 7. The lawsuit against Binance was dropped, the federal lawsuit against Gemini was frozen, and in the dispute with Ripple Labs, the SEC sought to reduce penalties. Data shows that during the Biden administration, the SEC filed 105 cryptocurrency cases, compared to 50 during Trump's first term and zero so far in his second term. Among the revoked or frozen cases, 8 companies are known to have connections with Trump or Trump family businesses.

Oil wealth is shifting towards BTC, and Gulf sovereign funds, family offices, and private banks are increasing their holdings of BTC through spot ETFs. （Cointelegraph）

[CoinShares Data Shows Net Inflows of $864 Million into Digital Asset Investment Products Last Week] CoinShares data indicates that digital asset investment products saw total inflows of $864 million last week, marking the third consecutive week of inflows. Despite the recent Federal Reserve rate cut and subdued price performance, the U.S. market still recorded $796 million in inflows, while Germany and Canada saw inflows of $68.6 million and $26.8 million, respectively. Bitcoin attracted $522 million in inflows, while short Bitcoin products experienced $1.8 million in outflows. Ethereum saw $338 million in inflows last week, with Aave and Chainlink attracting $5.9 million and $4.1 million in inflows, respectively. Hyperliquid, on the other hand, recorded $14.1 million in outflows.

[Binance Alpha to Launch Magma Finance on December 16] Binance Alpha will launch Magma Finance (MAGMA) on December 16. Eligible users can visit the Alpha Events page to claim airdrops using Binance Alpha points after trading opens. More details will be announced soon.

[China's National Data Bureau and Two Other Parties Sign Memorandum of Understanding to Promote Blockchain and Other Technology Cooperation] China's National Data Bureau, the Chongqing Municipal People's Government, and Singapore's Infocomm Media Development Authority have jointly signed the 'Memorandum of Understanding on Cooperation to Build a New Digital Land-Sea Corridor.' The three parties will focus on cooperation in areas such as digital connectivity, digital technology and innovation, and digital talent exchange and training. They will encourage and support enterprises and research institutions from both countries to conduct joint research and scenario application cooperation in fields such as artificial intelligence, blockchain, and big data.