China’s commercial space sector saw one of its sharpest sentiment reversals after the successful debut and recovery of the Changzheng-10B rocket. The launch on July 10 marked China’s first controlled recovery of a heavy-lift rocket first stage and the world’s first net-based recovery, according to the source article. The news triggered a Friday rally that pushed more than 30 stocks to their daily limit, with China Satellite and China Satcom also surging. By July 13, the move had reversed. The sector fell broadly, with some names dropping more than 10%, while money rotated back into previously popular AI trades. Citing Securities Times, the article argued that the sector has long been underweighted or even avoided by public funds and social security funds, leaving it without a stable institutional base. In that setting, quant capital — described in the piece as accounting for 20% to 30% of A-share turnover — can exert outsized influence. The article contrasts this with continued backing in the primary market. According to Tabor Think Tank, China’s commercial space industry disclosed 89 financing events worth 15.13 billion yuan in the first half of 2026, with rocket launch companies taking 44% of funding. It also reviewed three waves of market enthusiasm over the past two years, driven in sequence by concept trading, policy support, and technical verification. The central question raised by the piece is whether public-market valuation can eventually catch up with the industry’s longer-term logic.

Bitcoin fell more than 2% over the past 24 hours, briefly touching $61,825, while Ether dropped to $1,750. CoinGlass data cited in the report showed total crypto liquidations reached $367 million during the same period, with $310 million tied to long positions and $56.2 million to shorts. A total of 91,399 traders were liquidated, and the largest single liquidation was an ETH-USD position on Hyperliquid worth $4.08 million. Spot prices quoted from Binance showed Bitcoin at $62,561 at the time of writing, down 2.23% over 24 hours, while Ether traded at $1,786, down 2.12%. SOL and XRP were also lower, falling 2.52% and 2.02% to $75.45 and $1.0695, respectively. The report also pointed to broader market pressure. It said U.S. stocks closed lower Monday, with weakness in chip shares weighing on sentiment, while oil prices climbed after developments tied to the Strait of Hormuz. Separately, Alternative.me’s Crypto Fear and Greed Index fell to 22, placing the market in the “Extreme Fear” zone and marking its lowest reading in nearly a week.

Iran’s Islamic Revolutionary Guard Corps said two foreign oil tankers were attacked and destroyed after, according to its public relations department, the vessels ignored repeated navigation warnings, entered related waters illegally near the Strait of Hormuz, and switched off their navigation systems. The IRGC Navy said it took necessary measures under relevant laws and regulations and handled the two “violating vessels” accordingly. Iran also said the security and uninterrupted passage of the Strait of Hormuz are critical to global energy supply, and that it will continue to safeguard normal traffic through the waterway while responding firmly to illegal acts that threaten regional security. Iranian authorities have started a further investigation into the incident and said more details will be released in due course. The report was cited by BlockBeats from China Central Television.

OKX said it will suspend USDC deposit and withdrawal services on the Solana network starting at 14:30 UTC+8 on July 14 as it carries out wallet maintenance. The exchange said the service will resume once maintenance is complete. OKX also noted that trading for the related token will continue as usual and will not be affected by the maintenance window. Users were advised not to make USDC deposits or withdrawals during the suspension period to avoid possible fund losses. The update was carried by Techub, citing U.Today.

Grayscale’s head of research, Zach Pandl, says tokenized equities are moving through three distinct stages, with different blockchain networks likely to gain at each step. In the first stage, third-party issuers use wrapper structures in which a special purpose vehicle holds the underlying shares and tokens represent a claim on that vehicle. Grayscale says more than 70% of tokenized stocks by market value currently follow this model, with trading concentrated on Ethereum, Solana, and BNB Chain. The second stage is an entitlement model, which Grayscale says is reflected in DTCC’s planned pilot on Canton Network. Rather than creating a new version of a security, the setup would place existing eligible securities onto blockchain rails through regulated post-trade infrastructure. The third stage is issuer-led issuance, where companies issue securities natively onchain. Grayscale points to Securitize, which it says became the first listed company to tokenize its own common stock at the time of its New York Stock Exchange listing. Grayscale argues this final model has the greatest long-term potential, though it still depends on clearer regulation, and says Ethereum, Solana, Avalanche, BNB Chain, and Canton Network are the networks most likely to benefit from growth in tokenized equities.

Grayscale’s head of research, Zach Pandl, said the tokenization of global equity markets is moving forward in three stages, with each phase favoring different blockchain infrastructure. He identified the wrapper model as the current dominant structure, noting that more than 70% of tokenized stocks by market value fall into that category. In that setup, issuers hold shares through a special purpose vehicle, while tokens represent claims on the SPV rather than direct ownership of the underlying stock. Pandl also pointed to a coming pilot by the Depository Trust & Clearing Corporation, or DTCC, on Canton Network as the next major step. That program is designed to allow tokenized equities and other assets to move through blockchain rails within a regulated financial system. Grayscale classifies this as the entitlement model, where existing eligible securities are brought on-chain through regulated post-trade infrastructure instead of creating a new version of the asset. The third phase, in Grayscale’s view, is issuer-led native issuance, where companies issue securities directly on-chain. The firm cited Securitize as the first listed company to tokenize its own common stock at the time of its New York Stock Exchange listing. Grayscale said Ethereum, Solana, BNB Chain, Avalanche, and Canton Network are among the networks most likely to benefit as tokenized equities expand.

Grayscale Research Head Zach Pandl said stock market tokenization is moving forward globally, with the next major milestone likely to be DTCC’s planned pilot on Canton Network. In Grayscale’s framework, tokenized equities are developing through three distinct models: third-party wrappers, entitlement-based onchain records within regulated post-trade systems, and issuer-led native issuance. The firm said more than 70% of tokenized stocks by market capitalization currently use the wrapper structure, where an issuer holds shares through a special purpose vehicle and the token represents a claim on that entity rather than direct ownership of the stock. Those assets are already trading on networks including Ethereum, Solana, and BNB Chain. Grayscale also pointed to Securitize, which it said became the first listed company to tokenize its own common stock when listing on the New York Stock Exchange last week. The report argues that Ethereum, Solana, BNB Chain, Avalanche, and Canton Network are the blockchains most likely to benefit as tokenized equities expand, while noting that the three models are likely to coexist for years.

Cumberland said its Singapore unit, Cumberland SG Pte. Ltd., has received a Major Payment Institution, or MPI, license from the Monetary Authority of Singapore. The announcement was made by the crypto trading and liquidity services firm on X. According to the company, the license allows the Singapore subsidiary to provide Digital Payment Token, or DPT, services as well as cross-border money transfer services. The update points to a regulatory approval that expands the range of payment-related activities Cumberland can carry out through its Singapore entity. No additional details were disclosed in the announcement cited in the source report.