TechFlow Crypto Brief: Changxin Surges on Debut, Circle Buys IBM Blockchain Patents
A cluster of crypto and tech developments landed on July 27, led by Changxin’s blockbuster market debut and Circle’s latest infrastructure push. According to crypto KOL AB Kuai.Dong, Country Garden invested RMB 2 billion in Changxin in September 2021 at RMB 2.22 per share, securing 901 million shares, but later exited at cost by the end of 2024 as it grappled with a property-sector liquidity crisis. Had it held the position until now, the return would have reached 23x. Changxin then closed its first trading day up 465.8% at RMB 49, with a total market value of RMB 3.28 trillion. In crypto, Circle said it acquired IBM’s blockchain patent portfolio, covering more than 680 patent families and nearly 1,000 granted patents tied to core blockchain technology, banking, financial services, insurance, enterprise infrastructure, supply-chain verification and secure cloud operations. In the U.S., the Senate’s latest merged text of the Digital Asset Market Clarity Act entered a critical two-week window before the August recess, with ethics provisions emerging as the main sticking point. Onchain data also drew attention: 6.93 million HYPE are set to be unstaked over the next seven days on Hyperliquid, while the platform’s nine largest whale addresses were collectively sitting on about $48.635 million in unrealized losses.








