MarsBitNews

Atari stated in its latest fiscal year earnings report that it will adjust its Web3 ecosystem plan, Atari X, due to the small scale of trading activities, and will focus on its core video game business in the future.

Written by: Oliver, Mars Finance
On July 9, 2025, the Hong Kong stock market was enveloped in a strange atmosphere of extremes. On the previous trading day, Jinyong Investment (01328.HK) was like a runaway wild horse, with its stock price soaring from less than 2 HKD to 15 HKD, a surge of more than 6 times, driven by a memorandum of cooperation regarding "stablecoins," pushing its market value to exceed 10 billion HKD at one point. However, just 24 hours later, the dazzling fireworks turned into a cold waterfall, with the stock price plummeting over 40%, trapping countless latecomers at the summit.
This thrilling capital roller coaster, like a thunderclap, has shattered the noisy curtain of Hong Kong's "stablecoin concept". It is not only a classic case of speculation and bubbles, but also a prism that reflects the desire, anxiety, and confusion of capital under the grand narrative of Hong Kong's move towards becoming a global Web3 hub. As everyone turns their attention to that claimed number of only "individuals".

According to Mars Finance, Projective Finance, a sustainable development platform, has launched a $7 million lending pool on the Avalanche Blockchain to fund solar projects for public schools in Illinois. The platform tokenizes municipal loans through blockchain technology, allowing Decentralized Finance (DeFi) investors to directly participate in government-backed renewable energy infrastructure projects.

Woori Bank applied for 12 stablecoin-related trademarks on July 7, becoming the third major commercial bank in South Korea to apply for such trademarks, covering Crypto Assets financial transactions and electronic transfer services.

According to Mars Finance news, media and technology company GameSquare (NASDAQ: GAME) announced the completion of a $8 million fundraising to launch its Ethereum fund management strategy. According to the announcement, this round of financing was completed through an underwritten public offering at a price of $0.95 per share, totaling 8,421,054 shares of common stock issued. The company's board of directors has approved a phased investment plan for Ethereum not exceeding $100 million, while also reserving sufficient working capital for daily operations.

The SEC is considering a new framework to expedite the approval process for Spot encryption ETFs, with a draft expected to be released this month, and several encryption ETFs likely to be approved. Analysts predict that the new regulations could be implemented as early as September or October.

According to Mars Finance news, Adam, a macro researcher at Greeks.live, released a briefing for the Chinese community, which pointed out that the group generally feels anxious about the current market, believing that Bitcoin has been oscillating in the range of 105,000 to 110,000 USD for too long, lacking a clear direction. Traders are focusing on 107,000 USD as an important support level for Bitcoin, and generally believe that if this position is broken, the market will not be very optimistic, while also expecting fluctuations to occur through a false breakout to new highs.

In July 2025, a number of small companies on Wall Street began to bet on Bitcoin and other digital assets, leveraging the "Saylor Effect" to raise funds. The article analyzes the high-risk financial operations of these companies, questions their long-term sustainability and regulatory challenges, explores whether they are innovative or speculative behaviors, and warns of potential future financial crises.

According to Mars Finance news, on July 8, A-share listed company Hengsheng Electronics (600570.SH) stated on the interactive platform that its subsidiary Hengyun Technology is one of the first suppliers providing virtual asset trading systems in Hong Kong. In the past two years, it has assisted multiple Financial Institutions in going online and completed secure integration with virtual asset trading platforms, ensuring smooth transactions and real-time data. Currently, the related business does not have a significant impact on the company's current operating income. Hengyun Technology will always closely follow the latest developments in virtual asset regulatory policies in Hong Kong and globally.

According to Mars Finance, Grass has announced on X that users can now run Grass directly on their Android phones and engage in Mining. It will automatically pause when the battery is low or the network link is poor, and currently, users can temporarily receive a 3x points multiplier.

According to Mars Finance, the Bitcoin mining company Cango stated that it currently holds 4000 BTC on its balance sheet, which is an increase compared to the 3879.2 BTC reported in its recent mining business update in June.