Pakistan Virtual Assets Regulatory Authority Chairman Bilal bin Saqib said after a meeting with Islamic scholar Mufti Taqi Usmani that stablecoins, tokenized real-world assets, and other blockchain-based products should not be treated as one category and should instead undergo separate technical and Sharia assessments. The comment points to a more segmented approach as Pakistan develops its virtual asset framework. The remarks come after a prior religious ruling by Usmani and other scholars that found USDT and other cryptocurrencies do not qualify as wealth recognized under Islamic law, making transactions that use them to purchase physical goods or digital services invalid. Pakistan had already passed its Virtual Assets Act in March this year, requiring exchanges, custodians, and token issuers to ensure Sharia compliance under the guidance of an Islamic finance scholars committee. The country is also moving ahead with work on a sovereign stablecoin, tokenization of state assets, and licensing for crypto trading platforms.

Pakistan is facing fresh debate over the treatment of digital assets after a Sharia ruling classified USDT and other cryptocurrencies as assets not recognized as wealth under Islamic law. Following a meeting with Islamic scholar Mufti Taqi Usmani, Bilal bin Saqib, chairman of Pakistan’s Virtual Assets Regulatory Authority, said stablecoins, tokenized real-world assets, and other blockchain products should not be grouped together and instead need separate technical and Sharia reviews. The comments came after Usmani and other scholars issued a religious ruling stating that transactions using USDT and other cryptocurrencies to purchase physical goods or digital services are invalid. The issue matters because Pakistan has already moved to build a legal structure for the sector. In March this year, the country passed its Virtual Assets Act, requiring exchanges, custodians, and token issuers to keep their operations Sharia-compliant under guidance from a council of Islamic finance scholars. Pakistan is also working on a sovereign stablecoin, tokenization of state assets, and licenses for crypto trading platforms.

TenArmorAlert said it detected a suspected attack involving PHX on BNB Smart Chain, or BSC, with estimated losses of about $89,600. The alert did not include more detail on the attack vector, affected contract addresses, fund movements, or any response from the project team. Based on the information provided, the incident has only been identified as a suspicious exploit tied to PHX on BSC. No additional on-chain specifics were disclosed in the source material.

Morgan Stanley said in a July 10 report that China’s Long March 10B completed its first orbital flight and a successful sea recovery, making China the third entity in the world to master orbital-class rocket recovery technology. The bank said the technical route has now been proven. The report described Long March 10B as the reusable single-core version in the Long March 10 family, with payload capacity of about 16 tons in its reusable configuration. It also noted that a U.S. Space Force official had said earlier this year that China would need about 3.5 years to master rocket reusability, and that this latest milestone may shorten that timeline. Morgan Stanley also pointed to launch cadence and satellite plans. China completed 90 orbital launches in 2025, second only to SpaceX’s 165, according to the report. Reusable rockets being developed by commercial players including LandSpace are expected to enter service between 2026 and 2027. The report also listed major LEO constellation plans, including 12,992 satellites for Guowang, 15,000 for Qianfan, and 10,000 for Honghu, while adding that orbital computing has been written into China’s 15th Five-Year Plan and that a 2,800-satellite “Star Computing” orbital supercomputing network has started. Morgan Stanley said China is the biggest long-term competitive threat to SpaceX.

SK Hynix fell more than 9.6% on July 13, according to monitoring by ai_9684xtpa, putting pressure on a trader previously described as “smart money” after the address had made more than $5.293 million from long and short U.S. stock trades. The address is now giving back part of those gains. The trader currently holds two 2x leveraged long positions in the memory sector. One is a Micron Technology (MU) long worth $9.41 million, with an entry price of $1,005.1 and a current unrealized loss of $620,000. The other is a SK Hynix (SKHX) long worth $8.85 million, opened at $1,494.5 and now showing an unrealized loss of $1.18 million. Combined, the two stock longs are sitting on about $1.8 million in unrealized losses, based on the figures cited in the monitoring update.

Coinglass data cited by ChainCatcher shows whale positions on Hyperliquid currently stand at $5.15 billion. Long positions account for $2.506 billion, or 48.67% of the total, while short positions reach $2.644 billion, or 51.33%. On the profit and loss side, longs show -$39.0339 million and shorts show -$61.1665 million. The data also points to a specific whale wallet, 0x082e..88, which opened a 5x full-position long in HYPE at $38.6755. That position currently shows an unrealized profit and loss of $39.0282 million. The figures reflect the latest snapshot of whale activity on the Hyperliquid platform reported by ChainCatcher, citing Coinglass.

Strive’s SATA preferred security moved to business-day distributions on June 16, a structure the firm described as the first of its kind in the U.S. listed market. The annualized dividend rate stands at 13%, and for July 2026 the company declared $0.0493 per share each business day, or $1.0846 for the month across 22 business days. Even so, the market price fell from $97.38 on June 22 to $87.75 on June 26, a drop of about 9.9% in four trading days. The article argues that the key issue is not the frequency of cash payments but SATA’s place in Strive’s capital structure. As of June 18, Strive disclosed holdings of 19,864 BTC, $144.5 million in cash, and 505,000 shares of Strategy’s STRC preferred stock. SATA had 7,829,502 shares outstanding, implying about $782.95 million of stated amount at $100 per share. Using a June 28 BTC price of about $60,005, the company’s BTC position was worth roughly $1.192 billion. Yet SATA expanded faster than the BTC reserve did, and BTC also fell sharply in price, compressing pure BTC coverage from about 2.44x on May 12 to about 1.52x by June 18. The piece concludes that daily payouts improve cash-flow granularity and may reduce dividend-calendar trading, but they do not remove principal risk. SATA remains a cumulative perpetual preferred claim exposed to issuer credit, funding access, duration risk and BTC valuation pressure, rather than a bond directly secured by a specific pool of BTC.

A smart-money trader previously up more than $5.293 million from long and short U.S. equity bets has started to give back part of those gains after SK Hynix fell more than 9.6%, according to on-chain analyst Ai Yi on X. The trader is holding a $9.41 million 2x long position in MU, opened at $1,005.1, which is now showing a floating loss of $620,000. Another 2x long in SKHX stands at $8.85 million, with an entry price of $1,494.5 and an unrealized loss of $1.18 million. Combined, the two stock-linked long positions are now down $1.8 million on paper. The update was reported by Odaily.