ChainCatcher news, Hyperliquid has been listed on Unitree Technology (UNITREE) Pro-IPO and has started trading, currently quoted at $75.02.

ChainCatcher news, according to Jin10 report, SoftBank expects artificial intelligence and cloud business to achieve 30% annual growth before fiscal year 2027.

ChainCatcher news, according to Coinglass data, there were $219 million liquidations across the entire network in the past 24 hours, with long liquidations totaling $66.4007 million and short liquidations totaling $153 million. Among them, Bitcoin long liquidations were $8.419 million, Bitcoin short liquidations were $60.454 million, Ethereum long liquidations were $8.3471 million, and Ethereum short liquidations were $37.4281 million. Additionally, in the last 24 hours, a total of 59,561 people worldwide were liquidated, with the largest single liquidation occurring on Aster - ETHUSDT valued at $24.3703 million.

Written by: Boaz Sobrado Translated by: Chopper, Foresight News Twelve years ago, Vishal Garg personally experienced the difficulties of buying a home and has since been seeking solutions. "At that time, I realized I had to sell assets and pay capital gains tax to convert them into cash to pay for the house. Why can't I just pledge assets instead of having to liquidate them into cash?" said the CEO of Better Home & Finance in an interview. What made it more complicated was the sequence of the transaction process. "What if you don't get the house after making an offer? But the real estate agent requires you to have cash ready, otherwise the seller won't seriously consider your offer. Buyers are forced to sell assets and pay taxes first, only then do they find out if their offer is accepted." In March this year, Better partnered with Coinbase to launch a solution. Borrowers pledge Bitcoin or USDC to obtain two loans: one conforming to Fannie Mae standards as a first mortgage lien; the other an independent private financing loan used for the down payment, secured by crypto assets and accompanied by a second lien on the house. The Wall Street Journal reported that Fannie Mae accepted crypto-backed mortgages for the first time. In early June, a couple in their early thirties in Ann Arbor, Michigan, completed the first loan under this model. Better revealed that before the product's official summer launch, the reservation list corresponded to a potential loan scale of about $250 million, with 41% of applicants lacking sufficient cash for the down payment. Regarding the funding recipients of the loan assets, Garg said, "These assets meet bank investment standards, and multiple banks are already lined up to acquire and take over these loans, including some of the leading large banks in the U.S." He believes this will become an important channel for digital assets to formally enter the banking system. Real Costs and Collateral Rules The collateral ratio directly determines the product's target audience. Pledging Bitcoin requires a 250% collateral requirement; if the down payment loan amount is $100,000, then $250,000 worth of Bitcoin is needed as collateral; the stable USDC collateral ratio is 125%. This product does not have a margin call mechanism; a drop in Bitcoin price will not change the mortgage loan terms. Only if the borrower is overdue on payments for 60 consecutive days will asset liquidation be triggered, consistent with standard compliant mortgage loans. This mechanism is clearly designed for homebuyers who "have sufficient assets but lack liquidity." Real estate research firm Redfin data shows that recently 12.7% of young homebuyers have used crypto assets to raise down payments. The National Association of Realtors data indicates that by the end of 2025, the median age of first-time homebuyers will reach a historic high of 40 years, while the proportion of first-time buyers among all buyers will hit a historic low of only 21%. (The Mortgage Bankers Association disputes this figure citing federal loan data). Census data shows that in Q2 this year, the homeownership rate for those under 35 was only 35.2%. Using assets continuously held by borrowers to issue loans is not a new model. PayJoy co-founder and CEO Doug Ricketts said on the podcast "On The Margin" that smartphones can serve a similar role to real estate as collateral. "Our initial innovation was to set phones as collateral; in a sense, smartphones are like real estate in mortgage business." PayJoy provides lending services to people with thin credit records in Latin America, Africa, and South Asia. If users default, device functions are locked, a well-known digital collateral model. Ricketts has a clear bottom line on collateral pricing logic: "For lending to low-income groups, one model is to charge extremely high interest, allowing many users to default, relying on a few borrowers to generate high returns. But that is not PayJoy's approach." PayJoy loans only charge a one-time fixed fee without accruing rolling interest, which is rare in tech consumer credit. Seven Senators Call for a Halt On April 30, seven senators sent a letter to Federal Housing Finance Agency (FHFA) Director William Pulte, naming Better and Coinbase, demanding regulators "revoke related approvals and prohibit government-supported companies from taking on crypto asset-related risks." The letter was led by Dick Durbin and Elizabeth Warren, with signatories including Jeff Merkley, Chris Van Hollen, Richard Blumenthal, Bernie Sanders, and Mazie Hirono. The senators' core argument targets Better's claimed 250% collateral clause representing risk control robustness. The letter states: "This mechanism requires homebuyers to pledge crypto assets worth up to 2.5 times the down payment amount to qualify for a loan. This itself acknowledges crypto assets as high-risk; moreover, buyers must pay interest on two loans simultaneously." The team estimates that combined financing costs could be up to 1.5 percentage points higher than standard Fannie Mae mortgage rates and warns: "The high burden may prompt borrowers to default outright, with losses ultimately borne by U.S. taxpayers." They requested a response from regulators by May 30, but the FHFA has yet to publicly respond. The National Consumer Law Center's Alys Cohen and Consumer Federation of America's Corey Frayer jointly published a commentary in June with a more radical view: the federal government "may be repeating the mistakes that triggered the 2008 foreclosure crisis." Their conclusion is that this is not consumer financial innovation but a disaster waiting to happen. Market conditions also cast a shadow over this business. Bitcoin hit about $123,000 in October last year, fell to around $62,800 in February this year, and has hovered around $60,000 throughout July, only half its peak price. Garg's Long-Term Vision Bitcoin is just the start. "Currently, we support Bitcoin and USDC; later plans include integrating various mainstream tokenized assets, including equity tokens of SpaceX, Tesla, Coinbase, Better, Apple, Amazon, and others," Garg said. The project will not support meme coins, only selecting targets with liquidity and high institutional attention. Ethereum and Solana will be the next batch of supported assets. He has a further vision: parents can pledge retirement account assets to help children buy homes, aligning with the crypto asset pension track. Future homebuyers only need to take photos of the property, and software will complete the entire process. "An AI smart agent submits the home purchase application on the Better platform and automatically calculates the maximum offer. In the long run, ordinary people can hold shares of properties and flexibly swap different homes. This is difficult to realize now; the only obstacle is the complex transaction friction." This vision is based on a judgment of young people's asset allocation trends. "Today's young people lack assets that can hedge inflation and share in housing price appreciation dividends." Controversy Behind Token Pledging Tokenized equity business faces a key unresolved question: what legal rights do token holders actually have? Currently, the "tokenization of everything" track is generally troubled by this. Tessera founder and CEO Chan Ahn revealed on the podcast "On The Margin" that the company launched a SpaceX tokenized product in February. He candidly stated a business model feature: "The platform deliberately does not set up KYC processes, not due to oversight." The project's original intention is to lower entry barriers—private markets have long relied on complicated procedures, high minimum investment thresholds, and geographic restrictions, keeping 99.9% of ordinary investors out. Kula co-founder Chris Turner distinguished on the same podcast that most tokenized assets only represent contractual rights to asset income, not direct ownership of underlying assets; another model realizes tokens as assets, where holding tokens equals owning the underlying asset. There is an essential difference. For mortgage loan underwriters, when conducting collateral valuation, it is necessary to distinguish which type of rights they hold. Meanwhile, Better is restructuring its financing channels. In February, the company partnered with Framework Ventures to plan deploying up to $500 million relying on the stablecoin ecosystem Sky. Framework Ventures also invested $45 million for about 10% equity. Better expects this adjustment to reduce capital costs by over 100 basis points. The company says that after tokenized financing is implemented, it may reduce customer loan rates below 5%, while industry rates generally exceed 6%. The company urgently needs to reduce funding costs. In Q1, Better's loan volume was $1.64 billion, up 89% year-over-year, with revenue of $47.5 million but still a loss of about $70 million. Since 2016, the company has cumulatively loaned over $110 billion; in December 2021, it laid off 900 employees in one online meeting. Garg has faced ongoing external criticism over this. The heavy pressure has not weakened his determination to bet on this track. "The worst outcome is that the product launches and no one cares, but that is not the reality." Regarding the industry's prospects, he said, "No need to just fantasize about the future; more important is to create the future with your own hands."

ChainCatcher news, according to Jin10 reports, Citigroup strategist David Chew stated that the European stock market is the only major market region recently showing a significant improvement in risk appetite, benefiting from new capital inflows and better-than-expected corporate earnings performance. The report pointed out that last week, investment position sentiment improved across all major European stock indices, while related indicators in the U.S. market showed weakened investor confidence. Chew also mentioned that the European market benefited from the European Central Bank's decision to keep interest rates unchanged.

ChainCatcher news, according to the Economic Times of India, the Indian Central Board of Direct Taxes has revised the global tax reporting framework, extending the applicability of the Foreign Account Tax Compliance Act and the Common Reporting Standard to specific crypto assets, central bank digital currencies, and digital currency products, while tightening due diligence requirements for financial institutions. The updated compliance framework provides guidelines for banks, mutual funds, insurance companies, custodians, and other investment entities on reporting account identification, tax residency verification, and financial information reporting. Financial institutions are also required to conduct enhanced due diligence on high-value accounts with balances exceeding 1 million USD.

ChainCatcher news, according to Jin10 reports, trillions of funds are being used to "rescue the yen." A joint action to intervene in the USD/JPY exchange rate has begun, aiming to stabilize the yen exchange rate and prevent further depreciation.

ChainCatcher news: Judge Jed S. Rakoff in the New York area has dismissed the emergency temporary restraining order application filed by the U.S. Commodity Futures Trading Commission (CFTC), which aimed to block New York State from advancing its enforcement case against the prediction platform Kalshi. The judge ruled that the CFTC failed to demonstrate a likelihood of success on the merits of its case or to prove the risk of irreparable harm. However, the dismissal was without prejudice, allowing the CFTC to refile the motion before August 7. New York Attorney General Letitia James sued Kalshi last Friday, accusing it of operating an illegal unlicensed prediction business by offering contracts on events such as sports and elections. New York State had issued a cease-and-desist order to Kalshi as early as October 2025. The core dispute in this case is whether federal commodity law takes precedence over state law—the state authorities consider event contracts to be predictions governed by state law, while the CFTC and Kalshi argue that they are derivatives under the exclusive jurisdiction of the CFTC.

ChainCatcher reports that CryptoQuant analyst Axel Adler Jr. stated that the Bitcoin Profit and Loss Stress Index (UTXO Stress Score) has risen back to 71.5, surpassing the 70 threshold again, indicating that most of the supply is in a loss state and the market remains in a high-pressure zone. A year ago, when Bitcoin's price was $114,000, this index was around 41 in the neutral range; over the past year, the index has been in high or extreme pressure for nearly two-thirds of the time, reaching an extreme level of 100 during the market crash in November 2025. Currently, the weekly momentum is +3, showing that after a month of easing pressure, it has started to increase moderately. Over the past month, the index has mainly fluctuated between 65 and 76, without rapid deterioration or substantial recovery. The analyst pointed out that if the index continues to fall below 70 with negative momentum, it will confirm pressure relief; conversely, if Bitcoin falls below the monthly low of about $61,500, the index may accelerate deterioration to the 90+ range, repeating the extreme situation of last November.

ChainCatcher news: Crypto analyst Crypto Dan posted on platform X that Bitcoin is currently in a severely undervalued range. From a cyclical perspective, Bitcoin is close to a historical bottom. Although it is not yet certain if this is the absolute bottom, the indicator shows that the current market participants' interest in the crypto market is comparable to that at past bottoms. Crypto Dan stated that looking ahead to the next upward cycle starting around 2027, the current level is undoubtedly in a cheap range.