Odaily News The Party Committee of the Shanghai State-owned Assets Supervision and Administration Commission held a study meeting of the central group on July 10 to study the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the Party Committee and Director of the Shanghai State-owned Assets Supervision and Administration Commission, pointed out that it is necessary to fully implement the spirit of the Seventh Plenary Session of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain a keen sense of emerging technologies, and strengthen research and exploration of digital currencies. Adhere to the integration of production and numbers, and explore the application of blockchain technology in cross-border trade, supply chain finance, and asset digitization. Persist in hard work and improve strategic agility and strategic initiative, further promote the deep integration of science and technology, finance, and industry, better play the important role of state-owned assets and state-owned enterprises in scientific and technological innovation, industrial control, and security support, and make new and greater contributions to the construction of Shanghai's "five centers." (Cailianshe)

Odaily News OKX market shows that ETH has broken through 2800 USDT and is now at 2800.6 USDT, with a 24-hour increase of 5.21%. (This newsletter is generated with the assistance of AI)

Odaily News OKX market shows that BTC has broken through 112,000 USDT and is now at 112,032.8 USDT, with a 24-hour increase of 2.64%. (This newsletter is generated by AI)

Odaily News Robinhood announced on the X platform that it has launched ETH and SOL staking services for US users.

Odaily News GMX published a report on the X platform to summarize the reasons and follow-up measures for the attack of about $40 million on GMX V1 on the Arbitrum chain on July 9, which pointed out that after analysis by the security team, the attack originated from the reentrancy vulnerability of the OrderBook contract. Hackers used this vulnerability to manipulate the average short price of BTC, thereby significantly raising the price of GLP and arbitrage. The official has suspended transactions related to the Avalanche chain, confirmed that the V2 version is not affected, and will take measures such as disabling GLP casting and redemption and setting up a compensation pool. GMX reminds V1 fork projects to promptly repair similar risks. Next plan funding situation: There is about $3.6 million left in the GLP pool, which is reserved for open positions. The GLP fee for V1 on Arbitrum this week is about $500,000 (minus 30% allocated to GMX pledgers), which will be transferred to the DAO treasury for compensation. GLP casting and redemption on Arbitrum will be disabled (redemption disablement requires a 24-hour timelock). Disable GLP minting on Avalanche, but retain redemption functionality. Enable V1 position closing on Arbitrum and Avalanche, disable opening to prevent the vulnerability from recurring. Cancel V1 orders on Arbitrum and Avalanche. Remaining GLP funds on Arbitrum will be allocated to a compensation pool for affected GLP holders. GMX DAO will discuss further compensation measures. It is recommended that all GMX V1 forks take immediate action and enable trading and minting of GLP-like tokens after repairs and audits.

Odaily News German state-owned development bank NRW.BANK announced the issuance of a 100 million euro (about 116.7 million US dollars) blockchain bond on the Polygon blockchain. The bond is registered in accordance with the German Electronic Securities Act (eWpG) and is provided with infrastructure by Cashlink's BaFin-regulated crypto securities registration system. The issuance was jointly underwritten by Deutsche Bank, DZ Bank and Deka Bank. (CoinDesk)