Preliminary Consumer Confidence Index for July from the University of Michigan, USA

Author: Preston Byrne, Partner at Byrne & Storm Law Firm; Translation: 0xjs@Golden Finance On August 24th, Pavel Durov, the founder of the popular messaging app Telegram, was arrested when his private plane landed in France. Early signs indicate that this arrest stems from Telegram's alleged failure to comply with French requirements for content moderation and data disclosure: Some legal background Most globally influential social media companies based outside of China have their headquarters in the United States. This is not accidental. In the late 1990s, the United States (wisely) took policy measures to minimize the responsibility of network service operators, the most notable of which is the "Communications Decency Act"

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Plasma is dedicated to addressing the high transaction costs and centralization risks faced by stablecoins by launching a high-performance Bitcoin sidechain specifically designed for stablecoins. This chain is EVM-compatible, offers zero-fee transactions, and enhanced security, and is expected to become the global settlement foundation for stablecoins. Plasma has completed a $24 million financing and plans to launch the XPL token to support the consensus mechanism and network security.

Analysis of digital asset treasury strategies and their impact on BTC/ETH Since a certain technology company implemented its Bitcoin strategy in 2020, its stock price has surged from $13 to $455, an astonishing increase. This raises a key question: was it the rise in token prices or the digital asset reserve strategy that led to such a significant increase in stock price? In-depth analysis reveals that the company's stock price has surged by 35 times: - 11 times originates from the Bitcoin price rising from 11,000 USD to 118,000 USD - 25 times comes from its treasury strategy, which increases the number of Bitcoins held per share. Clearly, the treasury strategy has a far greater impact on stock prices than the increase in the token price itself. The company increases the number of tokens held per share as follows: - When the market value of the stock exceeds the net asset value, new shares are issued. - Use token price fluctuations to reduce borrowing costs and increase investment returns. - make

The New Trend of Publicly Listed Companies: A Deconstruction of the Crypto Assets Reserve Economic Model Introduction By mid-2025, an increasing number of publicly traded companies are beginning to incorporate Crypto Assets (, especially Bitcoin ), into their treasury asset allocations. This trend is inspired by some successful cases. For example, data shows that in June 2025 alone, 26 new companies included Bitcoin in their balance sheets, bringing the total number of companies holding BTC globally to around 250. These companies span multiple industries ( technology, energy, finance, education, etc. ) and various countries and regions. Many companies view Bitcoin's limited supply of 21 million as a hedge against inflation and emphasize its low correlation with traditional financial assets. This strategy is gradually becoming mainstream: as of May 2025, 64 companies registered with the SEC collectively hold approximately 688,000 BTC, accounting for about 3-4% of Bitcoin's total supply.