credit

Fitch confirms the United States credit rating as "AA+", outlook stable.

The founder of Strategy, Michael Saylor, proposed the concept of the "Digital Assets Monetary Spectrum," categorizing different types of digital assets based on volatility, potential returns, and trading functions.Saylor stated that the digital asset system can be divided into four levels: Bitcoin (BTC): Digital Capital (Digital Capital) STRC: Digital Credit (Digital Credit) SR-strcUSX: Digital Money (Digital Money) USDT: Digital Currency (Digital Currency).He believes that from left to right, asset volatility and potential returns gradually decrease, while stability and trading utility continuously increase. Saylor stated that Bitcoin is the "ultimate value storage asset," possessing high volatility, high potential returns, and the attributes of a digital asset that does not require third-party credit endorsement; whereas stablecoins are the "ultimate medium of exchange," emphasizing stability and payment functionality. In between the two, digital credit and digital currency serve as a bridge connecting capital and currency. Among them, STRC is defined by Saylor as "digital credit," characterized by relative stability, high fixed returns, and certain value storage attributes.He further stated that digital currency combines digital currency technology with digital capital economic attributes, possessing stability, earning capacity, trading convenience, and value storage functions. Saylor noted that digital capital belongs to bearer assets, while assets such as digital credit, digital currency, and digital cash are created and managed by digital financial companies, with their ownership layer corresponding to "Digital Equity." These components together form the future "Digital Finance Stack."

According to Arkham monitoring, Alameda Research associated addresses transferred a total of 8.25 million USD in SOL to BitGo custody wallets through 24 transactions, presumably for distribution of compensation to FTX creditors.Arkham data shows that Alameda currently still holds over 200 million USD in SOL.

According to ThePayPers, the digital investment service platform InvestiFi has completed a $20 million financing round, led by Vibe Credit Union, with participation from several U.S. credit unions including BankTech Ventures, ICCU (Idaho Central Credit Union), United Financial Credit Union, and Coastal Credit Union.InvestiFi enables traditional financial institutions to directly offer cryptocurrency trading, as well as investment services for stablecoins, stocks, ETFs, etc., within their existing online banking systems, allowing users to invest directly through checking or savings accounts without the need to transfer funds between bank accounts and external brokers or crypto platforms. The new funding will be used to scale the platform.

The FTX bankruptcy asset management team will initiate the fifth round of creditor fund distribution, expected to distribute approximately $900 million to eligible creditors. So far, the FTX bankruptcy asset management team has distributed nearly $10 billion to creditors.

According to market news, the listed company KULR Technology has sold 333 bitcoins to fully repay its $20 million Coinbase credit line. It currently holds a total of 760 BTC.

U.S. Senator Cynthia Lummis released an updated draft of the CLARITY Act, which aims to require digital commodity exchanges, brokers, and dealers to segregate customer assets and prohibit the use of customer funds and assets as the platform's own property.The draft also aims to classify digital commodities held by the platform on behalf of customers as "customer property" in bankruptcy liquidation proceedings, reducing the risk of users being classified as general unsecured creditors.

According to The Block, Movement's original core development company Movement Labs (MVMT) applied for Chapter 11 bankruptcy protection in a bankruptcy court in Delaware, USA, earlier this month.According to documents submitted on July 15, the company reported assets between $100,000 and $500,000, with liabilities reaching up to $10 million, listing nearly 299 creditors, among which the largest unsecured claim is over $1.6 million from the ousted co-founder Rushikesh Manche. Manche retains a 34.25% equity stake and has previously filed a lawsuit regarding legal fees related to the Department of Justice grand jury investigation into the MOVE token issuance scandal, which was supported.The company was the core developer of the Ethereum Layer 2 network Movement Network and completed a $38 million Series A financing led by Polychain. In December 2024, the MOVE token issuance crisis was triggered by a market maker sell-off, leading to Manche's dismissal after an internal investigation, and core development work has since been transferred to Move Industries.

FTX announced that the fifth round of bankruptcy distributions will begin on July 31, distributing approximately $900 million to eligible creditors. Only claim holders of categories 5A, 5B, 6A, 6B, and category 7 who complete claim verification, KYC verification, tax form submission, and sanctions screening by the deadline of June 16, and successfully onboard with BitGo, Kraken, or Payoneer, are eligible for the distribution. Funds will be credited within one to three business days starting from July 31.Currently, creditors from 45 jurisdictions are excluded due to the lack of available distribution service providers, including China, Russia, Ukraine, Cuba, Iran, and others. FTX stated that the coverage of service providers may change, but even if it opens in the future, payments on July 31 cannot be retroactively applied. FTX warned that creditors who do not successfully complete onboarding within six months from July 31 may lose their right to the distribution for that claim.As of now, the cumulative distribution ratios announced by FTX are 105% for categories 5A and 5B, 103% for categories 6A and 6B, and 120% for category 7, but these percentages are based on the claim amounts approved by the court rather than the current market value.

FTX Recovery Trust and FTX announced that the next round of fund distribution will start on July 31, allocating approximately $900 million to convenience and non-convenience claimants in the restructuring plan. Eligible creditors can receive funds through BitGo, Kraken, or Payoneer accounts within 1 to 3 business days.This round of distribution is the fifth round of repayments to creditors by FTX. According to the FTX restructuring plan, convenience claims under $50,000 will receive 120% repayment, while other claims will receive distributions of 103% to 105%. Since FTX filed for bankruptcy in November 2022, FTX Recovery Trust has distributed approximately $10 billion. Former FTX CEO Sam "SBF" Bankman-Fried was sentenced to 25 years in prison in 2024, and his conviction and sentencing appeal were dismissed last month.

The tokenization platform Tradable plans to bring up to $1 billion in private credit assets to the Stellar blockchain to expand institutional access to tokenized RWA. The initiative is expected to launch with $500 million in nominal value assets and will gradually increase to $1 billion over time. Tradable will utilize the Stellar network to support institutional functions such as compliance, investor onboarding, and asset lifecycle management, with the specific launch date yet to be disclosed.Tradable stated that it has tokenized $1.7 billion in private credit assets across nearly 30 institutional-grade private credit positions. Denelle Dixon, CEO of the Stellar Development Foundation, noted that the initiative reflects growing institutional interest in using the Stellar network for tokenized RWA. Stellar has recently continued to focus on tokenized RWA and has attracted institutional partners such as the Depository Trust & Clearing Corporation.

According to Arkham monitoring, the U.S. government will transfer $250,000 worth of SHIB confiscated from FTX and Alameda to a government wallet, which is expected to be used to repay FTX creditors.

According to The Block, the Tokenization platform Tradable, invested by ParaFi Capital, plans to migrate approximately $1 billion of private credit assets from the Ethereum Layer 2 ZKsync to the public blockchain Stellar. Tradable was established in 2024 and provides on-chain infrastructure for the full lifecycle management of private credit, compliance controls, and investor account opening. Last year, it tokenized approximately $1.7 billion and nearly 30 institutional-level private credit positions on ZKsync.This migration aims to leverage Stellar's user base and compliance and privacy features in the institutional tokenization field to provide high-quality on-chain private credit investment opportunities to traditional asset managers. Stellar has previously hosted RWA products and stablecoin pilots for Franklin Templeton, WisdomTree, Ondo Finance, Figure, and others.

According to BBX data, yesterday the two flagship institutions on Wall Street released their Q2 2026 financial reports on the same day, forming an important institutional narrative anchor regarding AI infrastructure and digital assets. The core dynamics are as follows:The Goldman Sachs Group, Inc. (NYSE: $GS) released its Q2 2026 financial report on July 14, with CEO David Solomon providing the strongest institutional endorsement of AI infrastructure to date during the earnings call: "AI infrastructure is in the early innings of a multi-year investment cycle," and stated that the company expects to finance most of the AI infrastructure development, driving growth in mergers and acquisitions, debt and equity issuance, and lending opportunities. This assessment highly resonates with Goldman’s ongoing positioning in the crypto ecosystem: Q1 2026 13F shows the company holds approximately $700 million in iShares Bitcoin Trust ($IBIT) positions, while simultaneously liquidating all positions in XRP ETF and Solana ETF, and increasing holdings in Circle ($CRCL), Galaxy Digital ($GLXY), and Coinbase ($COIN) stocks; the company applied to the SEC for a Bitcoin Premium Income ETF (covered call option structure) on April 14; and on June 12, completed a $75 billion fundraising as the lead underwriter for SpaceX's largest IPO in history. Solomon's "early innings" assertion is a public confirmation that Goldman views AI infrastructure investment and crypto asset allocation as part of the same long-term narrative.JPMorgan Chase & Co. (NYSE: $JPM) also released its Q2 2026 financial report on July 14. According to CoinDesk Live Updates, CEO Jamie Dimon identified the rapid construction of AI computing infrastructure as a core driver of corporate investment and financing demand during the earnings call, forming a rare cross-institutional consensus with Goldman and BofA. JPMorgan has previously maintained a cautious stance on crypto regulation, but its statements in the AI data center financing sector are becoming a foundation for its entry into adjacent crypto tracks (including loans to AI mining companies and tokenized bond underwriting). Notably, JPMorgan has previously issued multiple warnings of "time running out" during the CLARITY Act legislative process, and this financial report did not provide a new legislative timeline assessment, but the strong qualitative outlook for AI infrastructure indicates that the bank will continue to provide financing services to AI mining clients such as TeraWulf and IREN, further deepening its balance sheet exposure to the crypto ecosystem.

Founder of Strategy Michael Saylor stated that Bitcoin is digital capital, and Strategy is transforming it into digital credit.