Track market-moving stories before they get noisy

After South Korean stocks plummeted, wreaths were laid in front of the National Assembly as retail investors demand the abolition of leveraged ETFs for Samsung and SK Hynix.

According to a report by The Chosun Ilbo, South Korean individual investors’ dissatisfaction has surged after single-stock leveraged ETFs tracking Samsung Electronics and SK Hynix plummeted. On that day, around 30 mourning wreaths were placed in front of the National Assembly building in Yeouido, Seoul, calling for the scrapping of the related 2x leveraged ETF products. The wreaths were sent by the individual investor group "Stock Market Normalization Council", whose demands include strengthening investor protection and pushing for the delisting of such products. The group argues that Samsung Electronics and SK Hynix single-stock leveraged ETFs amplified stock price volatility and exacerbated retail investors’ losses. The protest came amid sharp fluctuations in South Korea’s stock market. On the previous trading day, the KOSPI (Korea Composite Stock Price Index) plunged more than 8% at one point, triggering the circuit breaker; the single-stock leveraged products tracking Samsung Electronics and SK Hynix also tumbled around 25%. Against the backdrop of a downturn in the AI hardware chain and sharp falls among semiconductor leaders, the risks of highly leveraged products were rapidly magnified. South Korea’s financial authorities have started tightening trading thresholds. The Financial Services Commission plans to require individual investors to hold a minimum cash margin of at least 30 million won when purchasing new or additional single-stock leveraged products starting from July 31. South Korea’s Financial Services Commission Chairman Lee Eui-keun said industry estimates show that after the measure takes effect, related trading accounts may drop from around 100,000 to about 10,000, with trading volume likely to decrease by around 60%.

2 minutes ago

Bitunix Trading Champion Challenge officially launched, with a 700,000 USDT prize pool up for grabs!

Bitunix has officially launched the "Trading King Challenge" individual trading contest, running from July 28 to August 12 (UTC+0), open to all registered users on the platform. The contest features two leaderboards: the trading volume leaderboard and the return rate leaderboard, with their respective prize pools accounting for 80% (560,000 USDT) and 20% (140,000 USDT). Eligibility requires a valid contract trading volume of at least 50,000 USDT; users ranking on both leaderboards will receive the higher reward. As Bitunix's contract trading ecosystem continues to expand, the platform is giving back to the community with a total prize pool of up to 700,000 USDT, inviting traders worldwide to compete and claim the "Trading King" title.

2 minutes ago

MARA CEO: AI power use delivers far higher returns than Bitcoin mining, with crypto miners’ future core competitiveness shifting to power resources.

Fred Thiel, CEO of MARA Holdings, stated that revenue generated from using electricity for AI infrastructure is far higher than that from Bitcoin mining, making power resources the most critical strategic asset for mining firms. He said: “For every unit of electricity used, the returns from AI are significantly higher than those from Bitcoin mining.” Thiel pointed out that as Bitcoin halvings continue to compress mining revenues, and electricity remains the largest operating cost for mining companies, firms must secure power resources or form close partnerships with utilities to stay competitive. MARA has partnered with Starwood to build a roughly 1GW computing power platform, with plans to expand further to 2.5GW; this month, the company also announced the acquisition of a Texas campus with approximately 2GW of power access capacity for developing digital infrastructure. However, Thiel emphasized that AI will not completely replace Bitcoin mining. In regions with low-cost, idle, or surplus power, Bitcoin mining remains an important method to boost power utilization rates. He believes that in the future, for mining firms with grid access and developable land, Bitcoin mining will become one of the uses for power resources, rather than the sole purpose.

2 minutes ago

South Korea's financial authorities will hold an emergency meeting starting at 17:00 Beijing time.

According to South Korean lawmaker Yoo Dong-soo, South Korea's financial authorities will hold an emergency meeting today, set to begin at 6 PM local time (17:00 Beijing time). (Jinshi)

2 minutes ago

Vanta will launch a 100,000 USDC trading competition on July 30, with a weekly reward pool of 1 million points.

According to official announcements, decentralized full-asset trading platform Vanta will launch a trading competition with a total prize pool of 100,000 USDC at 16:00 Singapore time on July 30. During the event, users will split the 100,000 USDC prize based on their trading volume, with higher volume translating to larger rewards. Participants in the trading competition can also join Vanta’s weekly 1 million-point reward program, earning Vanta points based on trading volume, new user referrals, liquidity provision, and other ecosystem contributions. It is reported that Vanta officially opened to all users on July 16, with the platform’s cumulative trading volume already exceeding $300 million. The project is also advancing its global expansion by establishing local teams in multiple countries. Founded by core executives from exchanges including Bitget and OKX, the platform supports trading of multiple asset classes such as crypto assets, stocks, gold, forex, commodities and indices, and has launched Smart Trading and AI trading assistance features.

2 minutes ago

Dark Side of the Moon completes an oversubscribed $3.5 billion funding round, hitting a $35 billion valuation.

Moonshot AI (Chinese name: 月之暗面) has raised $3.5 billion, exceeding expectations, in a recently completed funding round, bringing its valuation to $35 billion. (Jinshi)

2 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

After South Korean stocks plummeted, wreaths were laid in front of the National Assembly as retail investors demand the abolition of leveraged ETFs for Samsung and SK Hynix.

According to a report by The Chosun Ilbo, South Korean individual investors’ dissatisfaction has surged after single-stock leveraged ETFs tracking Samsung Electronics and SK Hynix plummeted. On that day, around 30 mourning wreaths were placed in front of the National Assembly building in Yeouido, Seoul, calling for the scrapping of the related 2x leveraged ETF products. The wreaths were sent by the individual investor group "Stock Market Normalization Council", whose demands include strengthening investor protection and pushing for the delisting of such products. The group argues that Samsung Electronics and SK Hynix single-stock leveraged ETFs amplified stock price volatility and exacerbated retail investors’ losses. The protest came amid sharp fluctuations in South Korea’s stock market. On the previous trading day, the KOSPI (Korea Composite Stock Price Index) plunged more than 8% at one point, triggering the circuit breaker; the single-stock leveraged products tracking Samsung Electronics and SK Hynix also tumbled around 25%. Against the backdrop of a downturn in the AI hardware chain and sharp falls among semiconductor leaders, the risks of highly leveraged products were rapidly magnified. South Korea’s financial authorities have started tightening trading thresholds. The Financial Services Commission plans to require individual investors to hold a minimum cash margin of at least 30 million won when purchasing new or additional single-stock leveraged products starting from July 31. South Korea’s Financial Services Commission Chairman Lee Eui-keun said industry estimates show that after the measure takes effect, related trading accounts may drop from around 100,000 to about 10,000, with trading volume likely to decrease by around 60%.

2 minutes ago

Bitunix Trading Champion Challenge officially launched, with a 700,000 USDT prize pool up for grabs!

Bitunix has officially launched the "Trading King Challenge" individual trading contest, running from July 28 to August 12 (UTC+0), open to all registered users on the platform. The contest features two leaderboards: the trading volume leaderboard and the return rate leaderboard, with their respective prize pools accounting for 80% (560,000 USDT) and 20% (140,000 USDT). Eligibility requires a valid contract trading volume of at least 50,000 USDT; users ranking on both leaderboards will receive the higher reward. As Bitunix's contract trading ecosystem continues to expand, the platform is giving back to the community with a total prize pool of up to 700,000 USDT, inviting traders worldwide to compete and claim the "Trading King" title.

2 minutes ago

MARA CEO: AI power use delivers far higher returns than Bitcoin mining, with crypto miners’ future core competitiveness shifting to power resources.

Fred Thiel, CEO of MARA Holdings, stated that revenue generated from using electricity for AI infrastructure is far higher than that from Bitcoin mining, making power resources the most critical strategic asset for mining firms. He said: “For every unit of electricity used, the returns from AI are significantly higher than those from Bitcoin mining.” Thiel pointed out that as Bitcoin halvings continue to compress mining revenues, and electricity remains the largest operating cost for mining companies, firms must secure power resources or form close partnerships with utilities to stay competitive. MARA has partnered with Starwood to build a roughly 1GW computing power platform, with plans to expand further to 2.5GW; this month, the company also announced the acquisition of a Texas campus with approximately 2GW of power access capacity for developing digital infrastructure. However, Thiel emphasized that AI will not completely replace Bitcoin mining. In regions with low-cost, idle, or surplus power, Bitcoin mining remains an important method to boost power utilization rates. He believes that in the future, for mining firms with grid access and developable land, Bitcoin mining will become one of the uses for power resources, rather than the sole purpose.

2 minutes ago

South Korea's financial authorities will hold an emergency meeting starting at 17:00 Beijing time.

According to South Korean lawmaker Yoo Dong-soo, South Korea's financial authorities will hold an emergency meeting today, set to begin at 6 PM local time (17:00 Beijing time). (Jinshi)

2 minutes ago

Vanta will launch a 100,000 USDC trading competition on July 30, with a weekly reward pool of 1 million points.

According to official announcements, decentralized full-asset trading platform Vanta will launch a trading competition with a total prize pool of 100,000 USDC at 16:00 Singapore time on July 30. During the event, users will split the 100,000 USDC prize based on their trading volume, with higher volume translating to larger rewards. Participants in the trading competition can also join Vanta’s weekly 1 million-point reward program, earning Vanta points based on trading volume, new user referrals, liquidity provision, and other ecosystem contributions. It is reported that Vanta officially opened to all users on July 16, with the platform’s cumulative trading volume already exceeding $300 million. The project is also advancing its global expansion by establishing local teams in multiple countries. Founded by core executives from exchanges including Bitget and OKX, the platform supports trading of multiple asset classes such as crypto assets, stocks, gold, forex, commodities and indices, and has launched Smart Trading and AI trading assistance features.

2 minutes ago

Dark Side of the Moon completes an oversubscribed $3.5 billion funding round, hitting a $35 billion valuation.

Moonshot AI (Chinese name: 月之暗面) has raised $3.5 billion, exceeding expectations, in a recently completed funding round, bringing its valuation to $35 billion. (Jinshi)

2 minutes ago

https://news.bitcoin.com/hyperliquid-explained-a-deep-dive-into-the-perp-dex-that-reshaped-crypto-in-2025/

Hyperliquid, a decentralized perpetuals exchange, has reported a significant shift in its dynamics, with real-world assets (RWAs) surpassing crypto transactions for the first time in a single week. According to a tweet by @laurashin, individual stocks accounted for 61% of the RWA volume. This transition is largely attributed to the platform’s HIP-3 mechanism, which governs tokenized stock-style markets. During the week of July 13 to 19, 2026, Hyperliquid’s RWA activity generated $25.1 billion out of a total $48.2 billion in weekly volume. This development reflects a broader trend in decentralized exchanges, where Hyperliquid captured a significant portion of the market.

Advertisement

Key Takeaways Hyperliquid’s shift towards RWAs appears consistent with increased interest in non-crypto assets, suggesting potential for growth in this sector. Market pricing for Hyperliquid’s price prediction for 2026 currently reflects a 19.5% probability of reaching $100 by the end of the year, suggesting some optimism despite recent declines. The exchange’s emphasis on individual stocks within its RWA offerings indicates strong participant interest in these assets, supportive of a diversified environment. What to Watch Observers should monitor Hyperliquid’s future announcements and partnerships, which could further influence market dynamics and pricing. Key developments, such as potential partnerships with Fortune 500 companies or increased institutional participation, may indicate support for a higher valuation. Conversely, any security breaches or regulatory challenges could negatively affect market sentiment. The coming months will likely provide further clarity on Hyperliquid’s strategic direction and its impact on the broader decentralized exchange landscape.

Get live prediction-market analysis, powered by Vera. Sign up for Vera.

Term Structure

Contract Odds Δ since publish Volume 24h December 31 19.5% — — View market → January 1 2027 6.2% — — View market → January 1 2027 2.9% — — View market → January 1 2027 41% — — View market → January 1 2027 8.8% — — View market → January 1 2027 3.1% — — View market →

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Trade.xyz Will Cover Losses From SK Hynix Liquidation Anomaly on Hyperliquid

Bitunix Trading Champion Challenge officially launched, with a 700,000 USDT prize pool up for grabs!

Bitunix has officially launched the "Trading King Challenge" individual trading contest, running from July 28 to August 12 (UTC+0), open to all registered users on the platform. The contest features two leaderboards: the trading volume leaderboard and the return rate leaderboard, with their respective prize pools accounting for 80% (560,000 USDT) and 20% (140,000 USDT). Eligibility requires a valid contract trading volume of at least 50,000 USDT; users ranking on both leaderboards will receive the higher reward. As Bitunix's contract trading ecosystem continues to expand, the platform is giving back to the community with a total prize pool of up to 700,000 USDT, inviting traders worldwide to compete and claim the "Trading King" title.

13 minutes ago

MARA CEO: AI power use delivers far higher returns than Bitcoin mining, with crypto miners’ future core competitiveness shifting to power resources.

Fred Thiel, CEO of MARA Holdings, stated that revenue generated from using electricity for AI infrastructure is far higher than that from Bitcoin mining, making power resources the most critical strategic asset for mining firms. He said: “For every unit of electricity used, the returns from AI are significantly higher than those from Bitcoin mining.” Thiel pointed out that as Bitcoin halvings continue to compress mining revenues, and electricity remains the largest operating cost for mining companies, firms must secure power resources or form close partnerships with utilities to stay competitive. MARA has partnered with Starwood to build a roughly 1GW computing power platform, with plans to expand further to 2.5GW; this month, the company also announced the acquisition of a Texas campus with approximately 2GW of power access capacity for developing digital infrastructure. However, Thiel emphasized that AI will not completely replace Bitcoin mining. In regions with low-cost, idle, or surplus power, Bitcoin mining remains an important method to boost power utilization rates. He believes that in the future, for mining firms with grid access and developable land, Bitcoin mining will become one of the uses for power resources, rather than the sole purpose.

13 minutes ago

South Korea's financial authorities will hold an emergency meeting starting at 17:00 Beijing time.

According to South Korean lawmaker Yoo Dong-soo, South Korea's financial authorities will hold an emergency meeting today, set to begin at 6 PM local time (17:00 Beijing time). (Jinshi)

13 minutes ago

Vanta will launch a 100,000 USDC trading competition on July 30, with a weekly reward pool of 1 million points.

According to official announcements, decentralized full-asset trading platform Vanta will launch a trading competition with a total prize pool of 100,000 USDC at 16:00 Singapore time on July 30. During the event, users will split the 100,000 USDC prize based on their trading volume, with higher volume translating to larger rewards. Participants in the trading competition can also join Vanta’s weekly 1 million-point reward program, earning Vanta points based on trading volume, new user referrals, liquidity provision, and other ecosystem contributions. It is reported that Vanta officially opened to all users on July 16, with the platform’s cumulative trading volume already exceeding $300 million. The project is also advancing its global expansion by establishing local teams in multiple countries. Founded by core executives from exchanges including Bitget and OKX, the platform supports trading of multiple asset classes such as crypto assets, stocks, gold, forex, commodities and indices, and has launched Smart Trading and AI trading assistance features.

13 minutes ago

Dark Side of the Moon completes an oversubscribed $3.5 billion funding round, hitting a $35 billion valuation.

Moonshot AI (Chinese name: 月之暗面) has raised $3.5 billion, exceeding expectations, in a recently completed funding round, bringing its valuation to $35 billion. (Jinshi)

13 minutes ago

Bitget has rolled out an interest-free lending plan for USDGO holdings under its unified account, offering a maximum interest-free limit of 10 million USDT.

According to official announcements, Bitget’s Unified Trading Account (UTA) has launched an interest-free lending program for USDGO holdings. The event runs from 15:00 UTC+8 on July 29 to 15:00 UTC+8 on August 29. During the period, users holding USDGO who borrow USDT via their UTA will receive an interest-free lending quota equivalent to 30% of their USDGO holdings’ value, with a per-user cap of 10 million USDT. Relevant benefits will automatically take effect during the event, no manual registration or application required. For more details, please refer to Bitget’s official platform.

13 minutes ago

South Korea's financial authorities will hold an emergency meeting starting at 17:00 Beijing time.

According to South Korean lawmaker Yoo Dong-soo, South Korea's financial authorities will hold an emergency meeting today, set to begin at 6 PM local time (17:00 Beijing time). (Jinshi)

3 minutes ago

Vanta will launch a 100,000 USDC trading competition on July 30, with a weekly reward pool of 1 million points.

According to official announcements, decentralized full-asset trading platform Vanta will launch a trading competition with a total prize pool of 100,000 USDC at 16:00 Singapore time on July 30. During the event, users will split the 100,000 USDC prize based on their trading volume, with higher volume translating to larger rewards. Participants in the trading competition can also join Vanta’s weekly 1 million-point reward program, earning Vanta points based on trading volume, new user referrals, liquidity provision, and other ecosystem contributions. It is reported that Vanta officially opened to all users on July 16, with the platform’s cumulative trading volume already exceeding $300 million. The project is also advancing its global expansion by establishing local teams in multiple countries. Founded by core executives from exchanges including Bitget and OKX, the platform supports trading of multiple asset classes such as crypto assets, stocks, gold, forex, commodities and indices, and has launched Smart Trading and AI trading assistance features.

3 minutes ago

Dark Side of the Moon completes an oversubscribed $3.5 billion funding round, hitting a $35 billion valuation.

Moonshot AI (Chinese name: 月之暗面) has raised $3.5 billion, exceeding expectations, in a recently completed funding round, bringing its valuation to $35 billion. (Jinshi)

3 minutes ago

Bitget has rolled out an interest-free lending plan for USDGO holdings under its unified account, offering a maximum interest-free limit of 10 million USDT.

According to official announcements, Bitget’s Unified Trading Account (UTA) has launched an interest-free lending program for USDGO holdings. The event runs from 15:00 UTC+8 on July 29 to 15:00 UTC+8 on August 29. During the period, users holding USDGO who borrow USDT via their UTA will receive an interest-free lending quota equivalent to 30% of their USDGO holdings’ value, with a per-user cap of 10 million USDT. Relevant benefits will automatically take effect during the event, no manual registration or application required. For more details, please refer to Bitget’s official platform.

3 minutes ago

Attorneys General of 44 U.S. states sent a joint letter to the CFTC, questioning whether it has the authority to regulate sports prediction markets.

Attorneys general from 44 U.S. states have jointly sent a letter to the U.S. Commodity Futures Trading Commission (CFTC), arguing that the CFTC lacks jurisdiction over sports event prediction markets, and urging it to withdraw its current proposed rules and draft new regulations that comply with the Commodity Exchange Act (CEA) and the U.S. Constitution. The letter notes that sports betting has long been regulated by individual U.S. states, while the CFTC’s proposed rules would significantly expand federal regulatory authority beyond its statutory mandate. Recently, the CFTC has been embroiled in legal disputes in multiple states over regulatory authority for sports event contracts with prediction market platforms including Kalshi and Polymarket. Currently, U.S. state courts have taken inconsistent stances on the issue. A Minnesota state court this week temporarily blocked the enforcement of a local prediction market ban, allowing Kalshi and Polymarket to continue operating during the litigation period; while a New York state court again refused to halt the application of local gambling-related laws to Kalshi, and Michigan and Washington states have also successively restricted Kalshi’s provision of sports event prediction contracts.

3 minutes ago

U.S. pre-market semiconductor stocks extended their recent downward trend, with SK Hynix down 1.9%.

According to market data from BIT (Bit.com), semiconductor stocks in US pre-market trading extended their recent downward trend: SK Hynix (SKHY.O) fell 1.9%, Micron Technology (MU.O) dropped 1.6%, SanDisk (SNDK.O) declined 2.3%, and NVIDIA (NVDA.O) edged down 0.3%.

3 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

8 hours ago

According to Hyperinsight’s monitoring, as of press time, Hyperliquid’s Shanghai-listed SK Hynix (SKHX) trades at $1069.5, while its U.S. ADR contract (SKHY) stands at $137.91. Converted, the ADR equivalent price is roughly $1379.1, a 28.9% premium over SKHX. This premium narrowed by about 4 percentage points from around 33.0% yesterday; over the same period, SKHX fell 13.5% and SKHY dropped 16.2%. The whale wallet starting with 0x434, which earlier executed a spread trade of "short SKHX, long SKHY" to bet on widening spreads, has closed out both positions entirely ahead of the earnings report, generating an approximate total profit of $442,700: - At 15:00 today, it sold 20,000 SKHY long positions at an average price of ~$137.6, for a total transaction value of ~$2.753 million, logging a loss of ~$133,000; - In the same window, it covered 4,500 SKHX short positions at an average price of ~$1071.1, for a total transaction value of ~$4.82 million, logging a profit of ~$576,000. Calculated from the average entry price, the implied ADR premium at its cost was around 20.4%, while the average exit price corresponds to a ~28.5% premium, meaning the spread widening trade has been realized. However, this position was not an equal hedge: the original SKHY long position only covered roughly 44.4% of the SKHX short position, with profits coming partially from the decline of the Korean stock mapping contract. SK Hynix will release its second-quarter earnings at 9:00 KST (8:00 Beijing Time). The whale completed its exit roughly 17 hours ahead of the earnings report, signaling it has stopped betting on further premium expansion, likely to prevent the spread from converging further ahead of the earnings window.

Relevant content

Trader Ouyang Zhuobai: The biggest trading opportunity this year may have emerged, and he has started buying storage concept stocks in batches on the dip.

Well-known trader Ouyang Zhuai Bai posted on social media that the biggest trading opportunity of the year has arrived, and he is starting to accumulate storage concept stocks via a step-by-step bottom-fishing approach without stop-loss orders. As a low-leverage trend trader, Ouyang Zhuai Bai has long adopted a core strategy of "going long on genuine breakouts, handling short-term positions during extreme market sentiment, and strict position control (total leverage capped at 2x)". He achieves compound growth through trend-aligned holdings and bottom fishing, with his trading philosophy emphasizing "always staying in the game" and opposing high leverage and full-position risks.

7 minutes ago

Elon Musk’s net worth has nearly halved from its all-time high, though it still exceeds $700 billion.

Since SpaceX’s stock price peaked in June, Elon Musk has lost roughly $650 billion in wealth, while shares of Tesla and SpaceX continue to decline. Despite this sharp drop, Musk’s net worth remains above $700 billion. Investors are still focused on whether AI-driven growth can sustain high valuations.

7 minutes ago

The S&P 500 Index turned positive, while the Nasdaq 100 Index narrowed its decline.

According to market data from BIT (bit.com), the S&P 500 index turned positive, while the Nasdaq 100 index narrowed its decline to 1.1%.

7 minutes ago

Zcash mainnet has activated the Ironwood upgrade, introducing a new privacy pool to enhance supply security.

According to official announcements, the Zcash Open Development Lab (ZODL) has activated the Ironwood (NU6.3) network upgrade at mainnet block height 3,428,143. The upgrade introduces a new privacy pool designed to enhance Zcash network security and enable independent verification of the integrity of its circulating supply. With Ironwood’s launch, the existing Orchard privacy pool will be restricted: funds transferred out of Orchard must go through a "gate mechanism" before entering Ironwood. Zcash states that Ironwood is an ecosystem-wide collaborative upgrade driven by the Orchard privacy pool security vulnerability discovered at the end of May this year. The vulnerability was patched via an emergency network upgrade; there is currently no evidence it was exploited, nor any indication that user funds or the total ZEC supply were compromised. Built on the revised Orchard protocol, Ironwood incorporates formal verification and independent security audits to further strengthen the protocol’s resilience against future supply integrity vulnerabilities. For users, existing funds in Orchard need to be migrated to the new Ironwood privacy pool. Wallets supporting Ironwood will provide migration paths, and ZODL users can complete the migration directly via the latest version of the app, with no need to create a new wallet or change addresses. Zcash notes that Ironwood’s launch will retain privacy features while delivering stronger verifiability and a long-term security foundation for the network.

7 minutes ago

A crypto whale transfers 5,000 ETH held for two years to Binance, posting an unrealized loss of $5.63 million.

According to Yu Jing Monitoring, a crypto whale accumulated 9,891 ETH via Binance in 2024 at an average price of roughly $3,011. After holding the position for two years, the whale opted to cut half of their position at a loss, transferring 5,000 ETH (worth around $9.42 million) to Binance an hour ago, with an unrealized loss of $5.63 million.

7 minutes ago

Bitcoin ETFs $200.23M outflow (7D); Ethereum ETFs $71.17M inflow (7D)

July 28 Update: #Bitcoin ETFs: 1D NetFlow: +20 $BTC(+$1.23M)?? 7D NetFlow: -3,170 $BTC(-$200.23M)?? #Ethereum ETFs: 1D NetFlow: +11,285 $ETH(+$21.16M)?? 7D NetFlow: +37,959 $ETH(+$71.17M)??

7 minutes ago

Hot feeds

Hot Articles

Follow us

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

The joint filing backs federal oversight but asks the CFTC to clarify settlement tests and publish its reasoning after every contract review.

The Hyperliquid Policy Center and Multicoin Capital submitted a joint comment to the US Commodity Futures Trading Commission (CFTC) on July 27th.

They expressed support for the agency’s proposed prediction market framework but also pressed for two changes that could affect how on-chain event contracts are designed and approved.

The filing is a direct response to the CFTC’s “Prediction Markets; Public Interest Determinations” proposal published earlier in June. It aims to amend Regulation 40.11 and seeks to establish a 90-day process for reviewing event contracts that may involve gaming, war, terrorism, assassination, or other activities listed in the Commodity Exchange Act, among other things.

HPC and Multicoin called the plan a “clear and well-reasoned framework.” They argued that prediction markets belong under the CFTC’s exclusive federal jurisdiction.

The letter also states that regulating prediction markets on a state level, creating “fifty separate state regimes,” would fragment national derivatives markets.

Prediction markets topped $50 billion in trading volume last month, and the biggest names in traditional finance are moving in.

Today, with @multicoin, we filed a joint comment supporting the @CFTC ‘s proposed prediction markets framework.

These markets have grown up. The… https://t.co/pYG4mevmbT

— Hyperliquid Policy Center (@HyperliquidPC) July 27, 2026

Settlement: Key Regulatory Test The first concern that the group outlines is related to the use of one word in the Commodity Exchange Act: “involve.” Under the statute’s rule, the CFTC can review contracts that involve certain listed activities and prohibit them when they are contrary to the public interest.

You may also like: BlackRock Backs CLARITY Act as Tom Lee Predicts Programmable Money Revolution The Harsh Reality of New Crypto: Just 7% of Major Tokens Beat Their Launch Price Dem Senator Slams GOP’s CLARITY Ethics Proposal as ‘Not a Serious Effort’: Report The letter supports an interpretation focused on settlement. Instead of treating trading itself as gaming, regulators would have to examine the event that determines the payout. A contract would fall within the special rule when settlement directly turns on illegal activity, not merely because buying it resembles placing a wager.

In addition, the group asked for more examples. Edge cases may include certain contracts with several potential paths to settlement or products that reference a sensitive activity only indirectly. Clear illustrations would help exchanges and developers assess regulatory exposure before having to commit resources to a launch.

Transparency Could Become a Competitive Requirement The second recommendation concerns what happens after a review under Regulation 40.11. Under the current proposal, the CFTC would publish written findings when it blocks a contract and explain how that particular decision fits with earlier findings.

HPC and Multicoin argue that this could create an information gap: an approval, including by inaction, can reveal as much about the regulatory boundaries as a prohibition. Without any public reasoning, other platforms may repeat the same legal work, seek guidance, or avoid products that could have been permissible.

In any case, it’s interesting to follow developments surrounding the letter and whether the CFTC would adopt the two requested changes. This could be a signal that regulators are actively listening to industry experts and attempt to legislate in a way that’s both fair to anyone involved.

Tags:

Hyperliquid’s SK Hynix perpetual contract briefly fell about 17.9% on July 28 after an unusually low pre-market trade in South Korea fed into the contract’s oracle pricing.

Summary

17.9% intraday decline followed one anomalous NXT trade involving only a single SK Hynix share. Trade.xyz operates the SKHX market and is investigating the oracle-driven move, Hyperliquid representatives said publicly. HIP-3 deployers control oracle inputs, leverage settings and settlements for markets they independently create themselves. The market, officially listed as xyz:SKHX, tracks the U.S. dollar value of one common SK Hynix share traded in South Korea. Hyperliquid’s interface displays the contract as SKHYNIX-USDC and permits leverage of up to 10 times. 

A Hyperliquid representative said the market was deployed and operated by Trade.xyz under the HIP-3 framework. Trade.xyz is investigating and plans to publish an update after reaching a conclusion, according to a statement reported by ChainThink. 

Hyperliquid Community Addresses SK Hynix Perp Anomaly: Deployed by XYZ and Under Investigation

Hyperliquid’s xyz:SKHYNIX perpetual contract briefly fell 17.9% after an anomalous pre-market trade in South Korea’s NXT market priced one SK Hynix share at KRW 1.272 million,… pic.twitter.com/7dpHsi5Ks0

— Wu Blockchain (@WuBlockchain) July 28, 2026 One SK Hynix share triggered the initial price anomaly

The disruption began shortly after South Korea’s alternative exchange, NextTrade, opened its pre-market session. One SK Hynix share changed hands at 1.272 million won, 29.96% below the previous close of 1.816 million won. 

The trade briefly placed the stock at its daily lower price limit. Korean reports attributed the print to a possible order error combined with limited liquidity during the early session. The underlying price later moved back above that isolated trade.

On-chain tracker HyperInsight said SKHX dropped from about $1,128.20 to $927 as the external price change moved through the oracle and mark-price system. The contract later recovered above $1,100.

The event occurred during a broader decline in South Korean semiconductor shares. SK Hynix closed the regular Seoul session at 1.55 million won, down 14.65%, although that closing move was less severe than the initial one-share print.Trade.xyz documentation states that the SKHX oracle tracks one SK Hynix common share and converts its Korean won price into U.S. dollars using the prevailing exchange rate. 

That design allowed the unusual NXT transaction to affect the on-chain contract even though it involved only one share. Leveraged positions linked to the mark price could then face liquidations or automatic deleveraging as the contract moved lower.

DefiLlama’s later snapshot showed SKHX at approximately $1,067, down 13.7% over 24 hours. Open interest stood near $406 million after falling about 20%, while daily volume exceeded $1 billion. These figures can continue changing as positions are opened and closed. 

There is no verified evidence that Hyperliquid’s blockchain or smart contracts were compromised. The available information points to an external market print passing through Trade.xyz’s pricing methodology.

HIP-3 makes Trade.xyz responsible for market operation HIP-3 allows independent teams to launch perpetual markets on Hyperliquid while using the network’s order books, margin system and liquidation engine. The deployer defines the contract, selects its oracle and controls leverage limits and settlement.

Hyperliquid’s API documentation says deployers supply oracle prices, external perpetual prices and as many as two additional mark-price inputs. The protocol combines those values with a local price based on the best bid, best offer and latest trade. Deployers are expected to consider unusual market conditions when designing price feeds. They must stake 500,000 HYPE and can face slashing for misconduct involving their markets.

As previously reported, Hyperliquid’s HIP-3 framework places oracle selection and market controls with outside deployers. That structure expands the number of tradable assets but makes each deployer’s price methodology central to risk management.

Trade.xyz has not published its conclusion Trade.xyz had not issued a final incident report when checked. Key unanswered questions include which NXT price inputs entered the oracle, whether filters operated as designed and whether any safeguards will change.

The market remained active after the disruption. Hyperliquid’s documentation allows deployers to halt trading, adjust open-interest limits or settle a contract, but no permanent SKHX suspension had been announced.

Notably, other decentralised exchanges have also introduced perpetual contracts for Korean stocks, increasing the links between thin local trading sessions and continuously operating crypto derivatives.

The next verified update is expected from Trade.xyz. Any final assessment should clarify whether the contract behaved according to its published rules or whether its oracle methodology requires changes.

Spot Hyperliquid [HYPE] ETF has been making waves.

Grayscale’s recent analysis reveals that, on a market cap basis, HYPE ETF flows have been rising compared to Bitcoin [BTC], Ethereum [ETH], Solana [SOL], and XRP ETFs.

This highlights how smaller cryptocurrencies, despite attracting less capital overall, have a greater impact because those inflows account for a larger portion of their total market value. 

Source: Grayscale HYPE ETF vs. other ETFs Bitcoin stands out for its consistency when compared to other cryptocurrencies, as BTC ETFs have drawn institutional demand for a long time since their launch. Even though there have been a few days or weeks of outflows, the general trend has been positive. 

In contrast, Ethereum has witnessed “dramatic spikes” instead of a steady accumulation. Meanwhile, inflows into ETFs for Solana and XRP are still in the early stages of growth.

Although both assets have drawn strong initial demand, neither has been as consistent as Bitcoin or as explosive in terms of inflows as Ethereum. This indicates that investors are becoming more open to diversifying into large-cap alternative cryptocurrencies in addition to Bitcoin and Ethereum. 

However, when market capitalization is considered, Hyperliquid is now showing up as the best performer. At comparable points in their ETF lifecycles, HYPE’s ETF has amassed capital more quickly than Bitcoin, Solana, and XRP in comparison to its size.

Source: SoSoValue Since HYPE’s market capitalization is substantially lower than that of Bitcoin or Ethereum, even modest dollar inflows result in a substantially higher Inflow-to-Market Cap Ratio. 

HYPE price action and more Hyperliquid’s ETF growth continued even as HYPE traded at $54.74 at press time, down 9.22% over the previous day.

However, this drop may be due to short-term facts, such as Bitwise recently reducing its HYPE holdings by selling another 117,917 HYPE tokens worth approximately $7.05 million.

Source: Lookonchain/X Moreover, if looked at from a broader lens, the price of the HYPE token has risen from $38 to $54 since the launch of its Spot ETF in May 2026. Simply put, ETFs have played a major role in driving up the price of the altcoin. 

Source: Trading View At the same time, AMBCrypto reported that Hyperliquid recently burned 20.64K HYPE, which was worth $1.2 million, and generated $1.4 million in fees. Yet, the amount of capital deployed has drastically decreased, falling 61% despite the buybacks and burns.

Final Summary Despite fewer inflows, HYPE ETF is attracting investors eyes against Bitcoin and other altcoin ETFs. ETFs have also been the reason behind HYPE seeing its price surge from $38 to $54. 

@HyperliquidX's $HYPE token sits at the top of CoinGecko's trending list on July 28, but not for any reason bulls would welcome. The token is down nearly 10% over 24 hours and 13.5% over the past seven days, dragged lower by a chain of events that began with a single anomalous trade on a South Korean stock exchange.

What Triggered the Flash Crash The trouble started on NXT, South Korea's alternative stock exchange, during its pre-market session. An anomalous pre-market trade priced one SK Hynix share at KRW 1.272 million, roughly 30% below the previous close of KRW 1.816 million. Korean reports attributed the print to a possible order error combined with limited liquidity during the early session.

That erroneous price fed directly into Hyperliquid's xyz:SKHYNIX perpetual contract via its oracle. The contract dropped 17.9%, triggering $57.4 million in liquidations across 960 accounts. Between 23:00 UTC and 23:01 UTC, the price of perpetuals tracking the Seoul-traded stock crashed 20% to $900, according to data from Hyperliquid. It briefly recovered above $1,000, though the damage to leveraged positions had already been done.

Hyperliquid was quick to distance itself from the incident. The exchange said it did not operate the market, which is managed by Trade.xyz under HIP-3, Hyperliquid's permissionless market framework. The oracle used the wrong price, causing the perpetual futures drop, though Trade.xyz's price bounds limited the fall to 17.9% despite a 28.7% implied stock drop.

Broader Market Context The flash crash did not occur in isolation. It preceded a sharp selloff in South Korea, where SK Hynix shares fell 14% and the Kospi index dropped 11%. Selling followed through to Europe and the United States, with key chip companies falling in early trade. SK Hynix, one of the world's largest suppliers of high-bandwidth memory chips used in Nvidia's AI processors, had already fallen nearly 48% from its peak reached on June 26.

The episode also comes amid thin overnight crypto liquidity and broader weakness in AI-related stocks, including a 5% drop in Nvidia after a report on its potential $250 billion financial backstop for an OpenAI-linked data-center project. The broader crypto market suffered nearly $600 million in liquidations over the last 24 hours amid renewed sell-off pressure.

The incident raises fresh questions about oracle design on permissionless perpetual platforms, particularly the risk of thin pre-market venues feeding mark prices for leveraged contracts. Slashed stake under HIP-3 rules is burned rather than distributed to affected users, meaning even a full penalty would return nothing to the 960 liquidated accounts.

Sources:
CoinDesk: Perpetuals tied to SK Hynix hit by flash crash to $900 on Hyperliquid
Crypto.news: Hyperliquid probes 17.9% SK Hynix perp plunge
BeInCrypto: Hyperliquid Explains $57 Million SK Hynix Perp Liquidations After Oracle Anomaly

Trader Ouyang Zhuobai: The biggest trading opportunity this year may have emerged, and he has started buying storage concept stocks in batches on the dip.

Well-known trader Ouyang Zhuai Bai posted on social media that the biggest trading opportunity of the year has arrived, and he is starting to accumulate storage concept stocks via a step-by-step bottom-fishing approach without stop-loss orders. As a low-leverage trend trader, Ouyang Zhuai Bai has long adopted a core strategy of "going long on genuine breakouts, handling short-term positions during extreme market sentiment, and strict position control (total leverage capped at 2x)". He achieves compound growth through trend-aligned holdings and bottom fishing, with his trading philosophy emphasizing "always staying in the game" and opposing high leverage and full-position risks.

7 minutes ago

Elon Musk’s net worth has nearly halved from its all-time high, though it still exceeds $700 billion.

Since SpaceX’s stock price peaked in June, Elon Musk has lost roughly $650 billion in wealth, while shares of Tesla and SpaceX continue to decline. Despite this sharp drop, Musk’s net worth remains above $700 billion. Investors are still focused on whether AI-driven growth can sustain high valuations.

7 minutes ago

The S&P 500 Index turned positive, while the Nasdaq 100 Index narrowed its decline.

According to market data from BIT (bit.com), the S&P 500 index turned positive, while the Nasdaq 100 index narrowed its decline to 1.1%.

7 minutes ago

Zcash mainnet has activated the Ironwood upgrade, introducing a new privacy pool to enhance supply security.

According to official announcements, the Zcash Open Development Lab (ZODL) has activated the Ironwood (NU6.3) network upgrade at mainnet block height 3,428,143. The upgrade introduces a new privacy pool designed to enhance Zcash network security and enable independent verification of the integrity of its circulating supply. With Ironwood’s launch, the existing Orchard privacy pool will be restricted: funds transferred out of Orchard must go through a "gate mechanism" before entering Ironwood. Zcash states that Ironwood is an ecosystem-wide collaborative upgrade driven by the Orchard privacy pool security vulnerability discovered at the end of May this year. The vulnerability was patched via an emergency network upgrade; there is currently no evidence it was exploited, nor any indication that user funds or the total ZEC supply were compromised. Built on the revised Orchard protocol, Ironwood incorporates formal verification and independent security audits to further strengthen the protocol’s resilience against future supply integrity vulnerabilities. For users, existing funds in Orchard need to be migrated to the new Ironwood privacy pool. Wallets supporting Ironwood will provide migration paths, and ZODL users can complete the migration directly via the latest version of the app, with no need to create a new wallet or change addresses. Zcash notes that Ironwood’s launch will retain privacy features while delivering stronger verifiability and a long-term security foundation for the network.

7 minutes ago

A crypto whale transfers 5,000 ETH held for two years to Binance, posting an unrealized loss of $5.63 million.

According to Yu Jing Monitoring, a crypto whale accumulated 9,891 ETH via Binance in 2024 at an average price of roughly $3,011. After holding the position for two years, the whale opted to cut half of their position at a loss, transferring 5,000 ETH (worth around $9.42 million) to Binance an hour ago, with an unrealized loss of $5.63 million.

7 minutes ago

Bitcoin ETFs $200.23M outflow (7D); Ethereum ETFs $71.17M inflow (7D)

July 28 Update: #Bitcoin ETFs: 1D NetFlow: +20 $BTC(+$1.23M)?? 7D NetFlow: -3,170 $BTC(-$200.23M)?? #Ethereum ETFs: 1D NetFlow: +11,285 $ETH(+$21.16M)?? 7D NetFlow: +37,959 $ETH(+$71.17M)??

7 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Hyperliquid Explains $57 Million SK Hynix Perp Liquidations After Oracle Anomaly

Analyst: The proportion of Bitcoin long-term holders transferring their holdings to trading platforms is approaching its historical peak.

CryptoQuant analyst Darkfost noted in a recent post that the volume of Bitcoin (BTC) holdings transferred by long-term holders to trading platforms has recently hit a high. Currently, long-term holders make up 5.1% of total Bitcoin inflows to these platforms — a figure near an all-time high, with only 2020 recording a higher rate, around 5.5%. This shift came after Bitcoin’s sharp price drop. As the metric relies on 90-day moving average data, it carries a degree of lag, meaning changes won’t immediately reflect the latest market developments. While the trend is likely to gradually stabilize going forward, current data shows long-term holders have clearly stepped up their trading activity recently.

7 minutes ago

Corning's US-listed shares plunged more than 15% in pre-market trading, as the company forecasts its core sales for the third quarter will fall short of market expectations.

According to market data from BIT (bit.com), Corning’s US-listed stock plunged more than 15% in pre-market trading. The company forecasts core sales of $4.9 billion to $5 billion for the third quarter, while market expectations had stood at $5 billion.

7 minutes ago

Myanmar has enacted strict anti-fraud legislation, with the maximum penalty for cryptocurrency fraud being life imprisonment.

Myanmar’s parliament passed a law on Tuesday that permits the death penalty for people who coerce others into online fraud via violence or illegal detention. Per a draft bill released in May, if such abuse leads to a victim’s death, “the death penalty shall be imposed”. The new law also specifies that those operating online scam compounds or committing “digital currency (cryptocurrency) fraud” face a maximum sentence of life imprisonment; offenders who carry out acts like violent coercion and illegal detention can be sentenced to 10 years to life in prison.

7 minutes ago

Amazon’s data center in Bahrain was damaged in an attack by Iran.

Bloomberg reported that satellite images show two Amazon Inc. data centers in Bahrain were damaged, consistent with Iran’s claim last week that it had carried out a missile attack on the facilities. Iran’s Islamic Revolutionary Guard Corps (IRGC) released high-resolution satellite imagery via Tasnim News Agency, its official media outlet, showing severe damage to the two data centers located in Zallaq and Askar, Bahrain. The IRGC stated the facilities were targeted because Amazon supports U.S. military operations. Independent low-resolution images from the European Space Agency (ESA)’s Sentinel-2 satellite constellation, reviewed by Bloomberg, also show signs of damage at both sites.

7 minutes ago

Foreign media reports: Changxin Technology will disrupt the monopolistic landscape of the global storage industry.

Multiple South Korean media outlets have linked the recent sharp plunge in South Korea’s stock market to the listing of ChangXin Memory Technologies, China’s largest semiconductor firm. Market concerns that ChangXin will use the funds raised from its stock debut to catch up with semiconductor giants including Samsung Electronics and SK Hynix have spread, weighing on investor sentiment. Peter Alexander, an analyst at Z-Ben Advisors, noted that following the development paths of the steel and new energy vehicle industries, ChangXin will rapidly capture market share in the low-end storage chip segment and eventually challenge the monopoly of Samsung Electronics, SK Hynix, and Micron Technology in the global storage industry.

7 minutes ago

Core Scientific and AMD Announce Infrastructure Partnership

According to Bloomberg, Core Scientific and AMD have announced an infrastructure partnership. AMD will obtain over 500 megawatts of U.S. computing power capacity, which can be expanded to 2.5 gigawatts in the future. Additionally, AMD will receive warrants to purchase Core Scientific’s stock at market price.

7 minutes ago

https://www.dlnews.com/articles/markets/hyperliquid-protocol-cranks-up-the-risk-with-1000x-leverage/

In a significant development for crypto markets, 151,007 market participants faced liquidation over the past 24 hours, resulting in a total of $573.05 million in liquidated positions. The largest single liquidation occurred on Hyperliquid, a decentralized perpetuals exchange, with a value of $24.61 million. This event highlights the ongoing high leverage stress within crypto futures markets, where leveraged positions are forcibly closed when margin requirements are unmet. The substantial liquidations suggest increased volatility and potential instability in the broader crypto derivatives market, impacting confidence in specific platforms like Hyperliquid.

Advertisement

Key Takeaways Market data suggests increased liquidation activity, with $573.05 million liquidated in the past 24 hours, indicating heightened volatility. Hyperliquid experienced the largest single liquidation, suggesting stress on its platform, potentially influencing market sentiment about its price prospects. Pricing suggests participants may view these liquidations as evidence of instability, potentially affecting Hyperliquid’s confidence and price predictions. What to Watch Observers should monitor Hyperliquid’s response to this liquidation event and any subsequent impact on its market confidence. Further liquidations or volatility could impact Hyperliquid’s likelihood of reaching price targets, as reflected in current market pricing. Additionally, any announcements or market movements related to other key exchanges and platforms could provide insights into broader market stability and future pricing trends.

Get live prediction-market analysis, powered by Vera. Sign up for Vera.

Term Structure

Contract Odds Δ since publish Volume 24h December 31 20.5% — — View market → January 1 2027 6.4% — — View market → January 1 2027 2.8% — — View market → January 1 2027 42.5% — — View market → January 1 2027 8.8% — — View market → January 1 2027 4% — — View market →

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Jensen Huang posts again on X platform, says defenders need a "frontier AI ecosystem" composed of both open-source and closed-source frontier models

NVIDIA founder and CEO Jensen Huang once again posted on X platform, saying that attackers have mastered frontier AI, and defenders need a "frontier AI ecosystem" composed of both open-source and closed-source frontier models, with defense capabilities amplified by the global community. He mentioned that in a previous Hugging Face security incident, some closed-source AI hindered key forensic investigations, while open-weight frontier models played a role in containing the intrusion, which led to the decision to promote this open security AI alliance. Earlier today, it was reported that NVIDIA announced the formation of an Open Security AI Alliance with multiple founding members to advance AI safety and security.

Approximately 6.93 million HYPE to be unstaked on Hyperliquid over the next 7 days, total value around $415 million

About 6.93 million HYPE (approximately $415 million) will be unstaked on Hyperliquid over the next 7 days. Among them, on July 30, the single-day unstaking volume will be roughly 3.3 million HYPE (about $198 million), marking one of the largest single-day unstaking events in the platform's history.

Two newly created wallet addresses withdrew 6,765 BTC from Binance, worth about $440 million

About 40 minutes ago, two newly created wallet addresses together withdrew 6,765 BTC from Binance, valued at approximately $441 million at current prices.

Ministry of Commerce criticizes U.S. hyping of AI "distillation," says U.S. companies also widely use Chinese models

China's Ministry of Commerce responded to the U.S. plan to investigate and sanction Chinese AI companies on grounds of "distilling U.S. frontier models" and "stealing intellectual property," accusing the U.S. of politicizing technology and trade issues, practicing double standards, and pursuing so-called "AI hegemonism." The ministry said Chinese AI companies have long been advancing independent R&D, with some models already achieving leading performance, and that a large number of U.S. AI companies also distill Chinese models during R&D and training. Nearly 200 U.S. startups and some multinational corporations have publicly opposed restricting access to Chinese open-source models, arguing that model distillation is a common industry technique. China urges the U.S. to stop smearing and suppression, stating that if the U.S. materially harms Chinese interests, necessary measures will be taken to safeguard legitimate rights and interests.

Strategy increases cash reserves by $525 million to $3.75 billion, nearly 843,800 BTC holdings unchanged

Strategy disclosed in an 8-K filing with the SEC that it sold 5.429 million shares of MSTR under its ATM program between July 20 and 26, raising net proceeds of approximately $545 million, while no other series of preferred stock was sold this week. As of July 26, the remaining MSTR issuance capacity stood at approximately $22.98 billion. During the same period, the company repurchased 288,930 shares of STRC preferred stock for $25 million under its buyback program, and no MSTR was repurchased. In the BTC segment, no new purchases were made this week; holdings remained at 843,775 bitcoins, with cumulative investment of approximately $63.69 billion and an average purchase price of about $75,476 per coin. Dollar reserves stood at $3.75 billion.

Kraken parent acquires Magic Labs wallet business, original company pivots to focus on Newton Protocol

Kraken parent Payward has agreed to acquire Magic Labs' embedded wallet business in an asset sale transaction, with both parties maintaining separate corporate structures. Magic Labs has created over 60 million wallets since 2018, serving more than 200,000 developers. After the transaction closes, wallet customers will be migrated to Payward Services; Magic Labs will rebrand as Newton Labs, focusing on developing Newton Protocol, an on-chain financial authorization layer that pre-executes compliance, security, and risk control strategies before transactions are committed on-chain. Newton Labs' first product based on this protocol is VaultKit, targeting institutional treasury use cases.

Bitmine increased Ethereum holdings by 9,946 ETH and repurchased 6.1 million common shares over the past week

Bitmine Immersion Technologies (NYSE: BMNR) increased its Ethereum holdings by 9,946 ETH and repurchased 6.1 million common shares over the past week. As of July 27 Beijing time, its total ETH holdings rose to 5,787,414 ETH, accounting for approximately 4.8% of the total Ethereum supply. BitMine's current combined holdings of cryptocurrencies, cash, and other investment assets total approximately $11.8 billion, including about $268 million in cash and marketable securities, 208 bitcoins, approximately $180 million in Beast Industries equity, and an investment of roughly $61 million in Eightco Holdings (ORBS). Its staked ETH stands at 4,917,189 ETH (about 85% of total holdings), valued at roughly $9.6 billion at $1,948 per ETH, with current annualized staking rewards of approximately $254 million.

Circle acquires nearly 1,000 blockchain patents from IBM, becoming one of the largest U.S. patent holders

Stablecoin issuer Circle (CRCL) has acquired nearly 1,000 granted blockchain-related patents from IBM, covering areas such as blockchain technology, banking and financial services, insurance, enterprise infrastructure, supply chain traceability, and cloud security. The transaction amount was not disclosed. Circle said the patent portfolio will be used to support USDC, Circle Payments Network, its Arc blockchain, and financial tools for AI agents, and it will explore follow-up commercial collaborations with IBM. Circle previously obtained its first patent for parallel blockchain data processing and joined the LOT Network to reduce risk from patent troll litigation. CRCL shares rose about 2.5% in pre-market trading.

Nvidia invests in SSI, the AI company of former OpenAI chief scientist Ilya Sutskever

Nvidia (NVDA.O) is investing in an artificial intelligence lab founded by former OpenAI chief scientist Ilya Sutskever. This long-term partnership not only boosts the startup's ability to access computing power but also helps Nvidia fend off competitors. Nvidia made a "massive" investment; the specific investment terms of the deal remain unclear. Under the agreement, Sutskever's Safe Superintelligence company will secure extensive access to Nvidia's flagship GPU hardware — at a scale sufficient to increase the company's computational resources by "an order of magnitude." According to people familiar with the matter, the company previously relied primarily on Google's TPU chips.

SpaceX stock price hits fresh low since listing, now at $110.3

According to Bybit data, SpaceX (SPCX.O) stock price hit a record low since listing, now down about 4% at $110.3.

HashKey merges regional exchanges into a single unified platform and app

Hong Kong digital asset service provider HashKey Holdings announced that it will merge its HashKey Exchange and HashKey Global into a unified platform and app. Regardless of whether users are from Hong Kong, Global, Singapore, or the Middle East, they will all access the service through the same frontend, with the platform enforcing localized compliance based on their jurisdiction. HashKey stated that this move shifts from the earlier model of regionally segregated operations with simplified compliance to an architecture of “unified entry, local compliance.” The report noted that platforms like OKX and Kraken also adopt similar approaches, using different legal entities to serve markets such as Singapore, Dubai, and the EU while maintaining a unified frontend.

Lido Kicks Off $16.5 Billion ETH Staking Migration, Plans to Cut Validator Count by One-Third

Lido has initiated its largest upgrade since V2 in 2023, migrating over 8 million stETH (worth approximately $16.5 billion) to the new validator architecture following Ethereum’s Pectra upgrade. The total number of validators is expected to decrease by about one-third, and attestation messages per epoch on the network will drop by roughly 29%, reducing consensus layer load without directly affecting gas fees or transaction speeds. This upgrade moves the existing 34 professional node operators to Curated Module v2 and, for the first time, requires them to stake ETH as a bond, assuming financial responsibility for node performance and security with their own funds. Lido estimates this migration will slightly compress the protocol's overall annualized staking yield by around 0.28%.

Domestic Immersion DUV Lithography Machine Begins Small-Batch Production, First Batch of 5 Units This Year

A Shanghai-based state-owned company has started small-batch production of a domestically made immersion DUV lithography machine, planning to ship about 5 units this year and increasing to about 20 units by 2027. The first batch will be delivered to SMIC, Hua Hong Semiconductor, and CXMT. Fabs will need to verify precision, stability, and integration with existing production lines, a process that could last months or even longer. The report says that most components of the equipment are domestically produced, but some key parts still rely on Japan. Overall performance and manufacturing quality still lag behind ASML, which is expected to deliver around 131 immersion DUV lithography machines in 2025 alone, indicating there is still a gap before domestic equipment can achieve large-scale substitution.

US Stock Memory Sector Losses Widen, SanDisk Falls Over 11%

The US stock memory sector gave up early gains, with losses continuing to widen. SanDisk (SNDK.O) fell over 11%, SK Hynix (SKHY.O) dropped over 7%, and Micron Technology (MU.O) declined over 5%.

Amazon to Launch Over 5,000 Direct-to-Phone Satellites to Challenge Starlink

Amazon has filed a notice planning to launch 5,105 direct-to-phone satellites starting in 2028, positioning itself in satellite communication services directly to smartphones, directly challenging the leading advantage of SpaceX’s Starlink in mobile connectivity.

ASML and BE Semiconductor Halted After Falling 8% to 8.7%

Amsterdam-listed ASML and BE Semiconductor were automatically halted after falling between 8% and 8.7%. Earlier today, it was reported that a domestic immersion DUV lithography machine has started small-batch production, with the first 5 units produced this year.

Kimi Open-Sources K3 Large Model Weights and Releases Technical Report

The Moonshot AI team has released the model weights and technical report for its most advanced large model, Kimi K3. Kimi K3 is a Mixture-of-Experts (MoE) architecture model with 2.8 trillion parameters, featuring native multimodal visual understanding capabilities and supporting 1-million-token long-context windows. The new architecture claims to improve intelligence levels by approximately 2.5x under the same computing power. In addition to the model itself, Kimi simultaneously open-sourced high-performance attention operators, an MoE communication library, and infrastructure code for running agent environments at scale. These resources are now available on Hugging Face, GitHub, and the official technical blog.

$445 Million Liquidated Across the Network in 24 Hours, Long and Short Positions Both Wiped Out

According to CoinGlass data, a total of 116,561 traders were forcibly liquidated across the globe in the past 24 hours, with total liquidations reaching approximately $445 million, including about $214 million in longs and $230 million in shorts, nearly balanced. Binance accounted for around $208 million in liquidations (46.73%), Bybit about $55.1 million, OKX about $44.15 million, and Hyperliquid about $48.45 million. The single largest liquidation occurred on the Aster platform for the ETHUSDT contract, totaling approximately $8.7164 million.

Ondo Launches New Execution Network Ondo Network, Replacing the Original Ondo Chain Roadmap

Ondo Finance announced the launch of a new execution layer, Ondo Network, calling it an "evolved version" of the previous Ondo Chain, and it will no longer run in parallel with Ondo Chain. While developing its perpetual exchange Ondo Perps, Ondo discovered the bottleneck lies primarily in execution rather than settlement, so it has separated execution from settlement and verification: secure hardware enclaves handle high-speed, default-private transaction execution, a decentralized attestor network verifies the code it runs, and asset transfers currently settle on Ethereum, with plans to support more public chains and periodically submit state on-chain. Ondo Network is a general-purpose execution layer; beyond perpetuals, it can extend to spot trading, lending, structured products, and other applications requiring fast, private, and verifiable execution. The ONDO token retains its role as the core for governance and incentives.

CXMT Wealth Myth: 7 Executives Become “Billionaires,” Hefei State Capital Sees Trillions in Returns

CXMT officially listed on the STAR Market today. Its wealth creation myth has brought Hefei state-owned capital over one trillion yuan in paper gains (corresponding to equity book value exceeding 1.21 trillion yuan). Seven company executives joined the "one-billion-yuan net worth" club, with Chairman Zhu Yiming and core technical staff Cao Kanyu each seeing their shareholdings surpass 10 billion yuan. Executive Vice President Zhu Wenju (2.915 billion yuan), Co-President Zhang Yu (2.765 billion yuan), Senior Vice President and CFO Huang Danyang (1.983 billion yuan), Senior Vice President and core technical staff Li Hongwen (1.523 billion yuan), and Vice President and Board Secretary Yuan Yuan (1.107 billion yuan). At the employee stock ownership level, over 6,700 person-times benefited, and at least 237 individuals became millionaires (in yuan). However, all shareholder stock values are statically calculated based on the opening price of 49.50 yuan and the post-IPO total share capital of 66.881 billion shares, representing only paper gains. Stock prices will continue to fluctuate, and book gains do not represent what can ultimately be realized.

OpenAI, Anthropic Reportedly Lobbying to Block Chinese Open-Source Models

OpenAI and Anthropic have held closed-door discussions with US regulators in Washington, attempting to push for tighter restrictions on open-source models. What was once a technical debate has escalated into a contest over the right to set industry rules. The key background to why OpenAI and Anthropic want to restrict open-source is the rapid breakthroughs in open-source model capabilities by Chinese AI companies in recent years. Open-source models lower the barrier for enterprises and developers to use advanced AI technology, and they also help Chinese models rapidly gain global users. Overseas developers and businesses can directly download, modify, and deploy these models without paying hefty API call fees. This has also made OpenAI and Anthropic feel competitive pressure.

Analysis: Not All Bitcoin Miners Can Pivot to AI, Power Resources Become Core Competitiveness

At the inaugural Energy Investment Forum (EIF) held in Dallas, attendees noted that the AI wave is fundamentally driving large-scale energy infrastructure construction rather than just a software competition. Bitcoin miners, leveraging years of experience in finding low-cost power, building modular computing facilities, and participating in grid balancing, have certain advantages in the expansion of AI data centers. However, owning power resources does not automatically qualify them to build AI data centers. Alexander Neumüller, a researcher at the Cambridge Centre for Alternative Finance, stated that preliminary data shows global annual electricity consumption for Bitcoin mining rose from 138 terawatt-hours (TWh) to approximately 190 TWh between June 2024 and December 2025. Around 10% of miners have started dedicating some power to AI or high-performance computing (HPC), and over 40% of companies are exploring such transitions. The future combination of miners and AI infrastructure could take multiple forms, including building large-scale AI data centers, providing distributed computing power, continuing Bitcoin mining operations, or transitioning into grid service providers.

NVIDIA invests billions of dollars in AI startup Safe Superintelligence and reaches long-term cooperation

NVIDIA announced a long-term partnership with Safe Superintelligence (SSI), the AI startup founded by OpenAI co-founder Ilya Sutskever, and will invest billions of dollars to support the company’s expansion of its AI computing infrastructure. SSI stated it will adopt NVIDIA’s latest-generation Vera Rubin platform, boosting its available computing power tenfold within the next 12 months to advance its yet-to-be-public AI research breakthroughs. SSI currently has only dozens of employees, having previously completed a $2 billion funding round in 2025 at a valuation of $32 billion, with investors including Andreessen Horowitz and Lightspeed Venture Partners. This partnership further strengthens NVIDIA’s strategic cooperation layout with top AI model developers.

South Korea single-stock leveraged ETF daily trading volume plunges 27%, capital cools ahead of new 30 million won margin requirement

As South Korea’s financial regulations tighten, trading enthusiasm for single-stock leveraged ETFs is rapidly cooling. Korea Exchange data shows that on July 27, the combined trading volume of 14 leveraged ETFs and two inverse ETFs tracking Samsung Electronics and SK hynix fell to 7.46 trillion won, down 27% from the previous trading day and down more than 30% from the average daily trading volume of the prior week, with their share of total Korean ETF market trading volume dropping to 36.9%. Among them, products related to SK hynix recorded a trading volume of 5.23 trillion won, accounting for about 70% of all single-stock leveraged and inverse ETF trading volume. The market believes the cooling is mainly driven by expectations of new South Korean financial regulatory rules. Starting July 31, individual investors purchasing or increasing holdings of single-stock leveraged ETFs/ETNs must hold a base cash margin of 30 million won, and regulators also plan to increase the minimum trading unit to curb high-frequency short-term trading and reduce market speculation risks.

Trump: Interest rates should be lowered, good negotiations underway with Iran

U.S. President Trump, when speaking about Iran, said we are having good negotiations. There is a big chance something will happen, and Iran has requested a meeting through intermediaries. When talking about the Federal Reserve, Trump said Fed Chair Warsh must deal with the board’s problems. Interest rates should be lowered.

Uphold announces 17% layoffs to address slowdown in trading activity caused by market downturn

Digital asset trading platform Uphold announced layoffs of approximately 17% of its global workforce, affecting a total of 85 full-time employees and contractors. The company said the adjustment is aimed at reallocating resources to its fast-growing enterprise-grade business in response to the slowdown in retail trading activity caused by the recent crypto market downturn. Uphold stated it will not close its UK or other international offices, and all regional operations will continue to operate normally. The company is currently providing crypto trading and custody infrastructure for banks, fintech companies, and brokerages, and plans to upgrade its consumer-facing application by 2026 into a multi-asset blockchain financial platform supporting U.S. stocks, tokenized securities, asset-backed lending, credit cards, prediction markets, and DeFi yields.

Minnesota prediction market ban blocked, Kalshi and Polymarket win lawsuit

U.S. District Judge Katherine Menendez in Minnesota ruled on Monday that a law passed earlier this year by Minnesota banning prediction market operations likely violates the federal Commodity Exchange Act (CEA), granting a preliminary injunction sought by Kalshi, Polymarket, and the CFTC against the law. The court found that the plaintiffs are highly likely to succeed on the merits, because the state law attempts to regulate “swap” transactions that fall under CFTC jurisdiction — prediction market contracts are structured as such. The judge noted that some contracts may not be protected by federal law, but a targeted ban is hard to implement. The court also stated that without blocking the law, Kalshi and Polymarket would suffer irreparable harm, and the preliminary injunction will remain in place until a final judgment.

Trump backs Warsh on rate cuts, calls for U.S. to have the world’s lowest rates, blasts Fed “rate-cut blockers”

U.S. President Trump on Monday expressed support for Federal Reserve Chair Kevin Warsh, while insisting that the United States should have the world’s lowest interest rates. While endorsing his nominee to lead the Fed, Trump questioned the motives of other Fed board members who are reluctant to ease monetary policy. Speaking to reporters aboard Air Force One, Trump said Warsh is “very outstanding,” but that there are members inside the Fed board he considers politicized. He said: “Kevin is very outstanding, but he has a board, and the board members are very politicized, I have to say. He wants to do the right thing. I know what he wants to do.” In his latest remarks, Trump again criticized Fed officials and suggested some policymakers may be blocking rate cuts for improper purposes. “You need the approval of certain people who may have bad intentions. Interest rates should be lowered. This country’s annualized GDP growth rate could have reached 8%, 9%, 10%, 12%. That’s what it should be,” Trump said. He also added: “We should have the lowest interest rates in the world, just like we did thirty years ago.”

Bitwise: Ethereum, Solana, and Avalanche networks are more active and cheaper even as token prices drop

Ethereum, Solana and Avalanche have seen increased network activity and lower usage costs over the past year, yet the prices of ETH, SOL and AVAX have all fallen by about 50% or more. Bitwise head of on-chain research Kam Benbrik said there is a clear divergence between network fundamentals and market sentiment — on-chain activity is actually growing, but protocol design has made block space cheaper, causing a significant drop in revenue. Bitwise’s first quarterly staking report shows Ethereum staking reached 40.2 million ETH at the end of Q2 (one-third of total supply), with new staking mainly coming from institutions. The report also noted that most staking rewards for Ethereum and Solana come from new token issuance rather than user fees (93% for Ethereum, over 90% for Solana), putting non-staking holders at risk of dilution, with increased staking participation also diluting yields. Bitmine holds about 4.9 million of its roughly 5.8 million ETH, making it currently the largest Ethereum reserve company. Ethereum’s annualized staking yield in Q2 was 2.84%, while Solana’s was 6.25%.

Analysis: Bitcoin unaffected by AI sell-off, but key Fed meeting may decide next direction

Bitcoin held near $65,000 on Monday, gaining about 4% over the past few days, while Ethereum hit a nearly two-month high, and AI-related tech stocks fell under pressure. Analysts say this week’s Fed policy decision, inflation data, and tech giant earnings will determine whether Bitcoin can break out of its months-long trading range or fall back to June lows. An LMAX Group market strategist said the resilience of the crypto market during traditional market volatility is encouraging and supports the view that digital assets are beginning to decouple from traditional risk assets. Technically, Bitcoin needs to break above $67,300 to exit its consolidation range since June, while Ethereum faces key resistance at $2,000. Bitmine Chairman Tom Lee noted that the ETH/BTC ratio has risen to a three-month high, a bullish signal. However, a Nansen senior research analyst believes the rebound lacks strong buying support, with declining Bitcoin futures open interest and order book data pointing to net selling pressure, and still expects a possible pullback to the $52,000-$58,000 range unless market conditions improve. The Fed’s rate decision and core PCE data will be the key catalysts this week.

Microsoft AI releases self-developed new cybersecurity model MAI-Cyber-1-F

Microsoft AI has released its self-developed new cybersecurity model MAI-Cyber-1-Flash, the company’s latest research achievement in the cybersecurity technology field. It is expected to play a role in multiple cybersecurity application scenarios such as malicious code identification, cyberattack early warning, and vulnerability risk investigation, providing stronger technical support for network protection systems across various industries.

Bitmine received 7,500 ETH from BitGo 4 hours ago, worth approximately $14.61 million

Bitmine continued to accumulate ETH this week, receiving 7,500 ETH ($14.61 million) from BitGo 4 hours ago.

Apple’s Market Cap Surpasses Nvidia to Reclaim Global Top Spot

On Monday local time, Apple surpassed Nvidia to once again become the world's most valuable company, marking the first time since April 2025. Nvidia's stock fell nearly 5% on Monday, with its market cap dropping to $4.77 trillion, as investors expressed concerns over the massive costs of AI infrastructure construction, dragging the AI chip sector lower overall. Meanwhile, Apple shares rose 1%, reaching a market cap of $4.95 trillion. The company is set to release its highly anticipated earnings report after the market closes on Thursday. Nvidia has held the top spot since overtaking Microsoft in June 2025 and briefly touched a $5 trillion market cap last October. So far in 2026, Nvidia's shares have risen only 4%, while Apple has gained 24%. Apple has outperformed the broader market as it remains cautious on AI capital expenditure, preferring to lease computing power rather than build its own infrastructure — a strategy that has won investor approval.

SpaceX market cap evaporates over $1.2 trillion, already "lost" the value of a Tesla

Since its June peak of $225.64, SpaceX's market cap has evaporated over $1.2 trillion, almost equivalent to the market value of Tesla, another company owned by its founder Musk. On Monday, SpaceX fell for the 13th time in 16 consecutive trading days, closing at $113.50, down over 1%. In the options market, retail investors continued to pile into nearly impossible-to-exercise call options in a bet on a quick rebound in the stock. SpaceX's first earnings report will be released next week; starting August 6, lock-up restrictions on approximately 911.5 million insider shares, representing about 20% of total shares outstanding, will begin to expire. Traders believe the lock-up expiration may not be as severe as the market fears, but it won’t support the share price either.

Grayscale: HYPE ETF inflows accelerate, outperforming BTC, SOL and XRP in the same cycle

According to research data released by Grayscale, based on the proportion of asset market cap, HYPE ETF inflows are accelerating, with relative performance exceeding BTC, ETH, SOL, and XRP. Grayscale noted that Bitcoin inflows have been the most steady and persistent, Ethereum experienced sharp spikes, Solana and XRP showed healthy inflows early on, while HYPE's launch performance at the same lifecycle stage outperformed Bitcoin, Solana, and XRP.

U.S. Senate temporarily shelves Clarity bill, prioritizes other agenda

Senate Majority Leader John Thune has temporarily shelved the Clarity bill, prioritizing the confirmation of government officials and a Russia sanctions bill. The Senate will also lose time on Tuesday and Wednesday this week for the funeral of the late Senator Lindsey Graham. Senate rules limit the ability to handle more than one contentious bill simultaneously, so the Clarity bill may not reach a floor vote until next week at the earliest (the final days before the August 8 recess). The two parties are still seeking a compromise on an ethics provision that would restrict federal officials, including President Trump, from participating in crypto projects. The White House announced last week that Trump agreed to accept the provision, but Democrats consider it insufficient, and both sides agreed to continue negotiations. If the bill cannot pass this year, the industry will face regulatory uncertainty. Even if it passes the Senate, it would still need to be approved again by the House, where recent divisions among House Republicans have hampered other legislative efforts. After returning in September there are a few more weeks, and the lame-duck session after the November elections could produce legislation or become mired in political gridlock.

South Korea's KOSPI index extends losses to 7%, SK Hynix falls 10%

Bybit market data shows South Korea's KOSPI index has extended its decline to 7%, with SK Hynix down 10% and Samsung Electronics down over 8%.

SK Hynix follows in SpaceX's footsteps of breaking below IPO price

SK Hynix (SKHY.O) American Depositary Receipts (ADRs) hit a new low since listing on Monday. The stock debuted on U.S. exchanges earlier this month with a $26.5 billion offering, but its share price has fallen sharply as investors continue to flee the high-valuation semiconductor sector. During the session, it plummeted as much as 10% to $139.01, well below the $149 issue price, before closing at $143.02. With that, SK Hynix joins SpaceX and other stocks in becoming one of the first among this year's largest U.S. IPOs to break below their issue prices. The semiconductor sector was under broad pressure, with the widely followed semiconductor index extending its recent decline to close at its lowest level since May 19. At the same time, the cost of default protection on Nvidia (NVDA.O) corporate bonds rose, as a new round of AI infrastructure deals could exceed $750 billion.

Arthur Hayes again spends 6.32 million USDC to buy 3,298 ETH over-the-counter

Arthur Hayes has increased his trading frequency after stepping away from BitMEX, spending 6.32 million USDC to buy 3,298 ETH over-the-counter via FalconX and Galaxy Digital two hours ago. Since July 15, he has accumulated a total of 13.82 million USDC to purchase 7,212.6 ETH at an average price of $1,916.

Crypto-friendly bank Cross River to provide P2P payments and banking services for X Money

Crypto-friendly Banking-as-a-Service provider Cross River will provide banking infrastructure for X Money, supporting peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit card services. Cross River's banking platform and payment rails will support X's "super app" strategy and are designed to allow more financial products to be added over time. X Money entered limited testing in May 2025 and expanded to external testing in March 2026. X has obtained money transmitter licenses in over 40 U.S. states and registered with FinCEN to support peer-to-peer payments on the platform. The announcement made no mention of cryptocurrency or stablecoin support.

Franklin Templeton voices support for Clarity bill, calls for regulatory clarity for the industry

Franklin Templeton posted on X, publicly supporting the passage of the Clarity bill, stating that the bill would establish a clear regulatory framework for crypto assets, enabling investors to understand applicable protections and companies to know which regulator oversees them, and that it is time to provide the regulatory clarity the industry needs.

Anthropic configuration error makes shared Claude conversations publicly searchable, leading to user privacy leak

Anthropic's Claude chat sharing feature, due to a missing noindex tag, caused conversations generated through "share links" to be indexed by Google and become publicly searchable. A Reddit user discovered hundreds of complete Claude conversations on July 25 through a simple search, exposing sensitive information such as crypto wallet seed phrases, Social Security numbers, and legal discussions. The root cause was the missing noindex tag on share links — while robots.txt blocked crawling, links appearing on third-party platforms allowed Google to still index pages and display entries with "no information available." The flaw also affected Claude's public Artifacts, leaking employee payroll spreadsheets, internal CRM chat logs, and unreleased product roadmaps. Google began removing the relevant results on July 26, but Bing continues to index them. A GitHub repository has archived 453 Claude conversations and 519 Grok conversations, totaling 11,241 messages. Users can revoke sharing via the settings page, but already saved data cannot be deleted. OpenAI had a similar issue in September 2025 that leaked thousands of conversations to search engines.

Coinbase CEO: AI will make crypto technology even more important, agent payments could be key use case

Coinbase CEO Brian Armstrong said that AI will make crypto technology more important rather than replaced, AI agents will rely on stablecoins and blockchain networks for payments, transactions, and financial services, and in the future, the daily transaction volume completed by AI agents may exceed the sum of all humans. He pointed out that the traditional banking system is not designed for software running around the clock, and AI agents need real-time programmable money. Coinbase is positioning USDC, the Base blockchain, and the x402 payment protocol as the core infrastructure for this market, where x402 allows software to pay for online resources through machine-readable payment requests. Armstrong said these tools already support most agent-driven payments, and Coinbase calls this strategy “Agentic Finance” (AiFi). Recently, it launched AI agent payment functionality for USDC for businesses through Coinbase Business, calling it a “high-conviction bet.”

A-shares open, C Changxin opens down 7.7%

Bybit market data shows that A-shares opened with the Shanghai Composite Index down 0.91%, the Shenzhen Component Index down 2.25%, and the ChiNext Index down 3.12%; C Changxin opened down 7.7%.

Hyperliquid SKHX flash crashes 17.9% due to SK Hynix abnormal order, liquidation volume exceeds Binance

Hyperliquid SKHX flash crashed 17.9% this morning, with 4-hour liquidation volume surpassing Binance. The cause was an abnormal order for SK Hynix during NXT pre-market trading (1 share traded at 1.272 million won, about $867), which triggered a circuit breaker after a 30% drop due to poor liquidity. Hyperliquid's price plummeted as its oracle followed suit, and Binance's price also fell due to arbitrage. Prices have now returned to normal.

Analysis: Binance BTC retail inflow roughly double whale inflow, whale inflow down 44.3% from recent high

CryptoQuant analysis points out a significant divergence in Binance Bitcoin inflow data. Whale 30-day total inflow was $3.9 billion, down 44.3% from the peak of about $7 billion on June 12; retail inflow was $7.8 billion, down only 22% from about $10 billion on June 5. Retail inflow is currently about twice that of whales, a gap of $3.9 billion. The analysis notes this divergence comes ahead of the Fed FOMC meeting on July 28–29. Federal funds futures currently price a roughly 36% probability of a 25 basis point rate hike, with holding the 3.50–3.75% target range steady being the more likely scenario. From a Bitcoin perspective, a surprise hike could bolster the US dollar and Treasury yields, increasing volatility in risk assets; a pause accompanied by dovish guidance could partially ease macro pressure. Wednesday's Fed decision will serve as a key variable to test whether this divergence persists or begins to converge.

Largest SK Hynix short on Hyperliquid now sitting on $6.1 million unrealized profit

As SK Hynix plunges, the largest Hynix short on Hyperliquid is now sitting on $6.1 million in unrealized profit. The trader shorted $40.5 million worth of SKHX at $1,275.7; with the current price at $1,083, the unrealized profit is $6.1 million. The trader also shorted $19.15 million worth of BRENTOIL at $97.7, with an unrealized profit of $2.43 million.

Spot silver's intraday decline has widened to 2.41%.

According to Bitget market data, spot silver has fallen below $57 per ounce, with an intraday decline of 2.41%.

3 minutes ago

Hong Kong storage concept stocks extended their decline in the afternoon.

According to Bitget market data, Southern 2x Long SK Hynix (07709.HK) has fallen by over 28%, while Southern 2x Long Samsung Electronics (07747.HK) has dropped by more than 25%.

3 minutes ago

Singapore-based digital asset investment firm Psalion closes a new $50 million fund.

Singapore-based digital asset investment firm Psalion has announced the closing of its largest-ever venture capital fundraise, launching its third fund worth $50 million, aimed at investing in the next phase of blockchain application development. The fund adopts the Singapore Variable Capital Company (VCC) structure and is managed by Conduit Asset Management Pte. Ltd. (CAM), targeting early-stage projects that integrate blockchain technology into the real economy, with a focus on areas including infrastructure, middleware, trade finance, real-world assets (RWA), stablecoins, and decentralized finance (DeFi). Psalion stated that the fund will primarily invest in pre-seed and seed-stage startups, and focus on the integration of Web3 infrastructure into consumer-facing applications, covering changes to asset ownership, transaction methods, and user interaction patterns. Tim Enneking, managing partner at Psalion, noted that the crypto market used to represent an investment philosophy that stood in opposition to the traditional financial system, but now the team is focused on bridging the two—enabling Web2 businesses to operate on Web3 infrastructure.

3 minutes ago

Bithumb will suspend deposit and withdrawal services for NEO and GAS to support the NEO N3 network upgrade.

According to an official announcement, to support the NEO network upgrade and maintain stable deposit and withdrawal services, deposit and withdrawal functions for NEO (NEO) and GAS (GAS) assets will be temporarily suspended. The suspension covers NEO and GAS on the NEO N3 network. The relevant deposit and withdrawal services are expected to be suspended at 18:00 KST on July 31, 2026, and will resume after network stability is confirmed; the specific resumption time will be notified via subsequent announcements. The suspension is to support the NEO network upgrade and Bithumb’s node server update. The NEO network upgrade is scheduled to take place at 01:00 KST on August 1, 2026, targeting block height 12,020,000. During the upgrade, trading functions for the relevant assets remain unaffected, though users should note potential market fluctuations during network maintenance. Pending deposit and withdrawal requests submitted earlier will be processed in sequence after system confirmation.

3 minutes ago

ZuriQ completes $25.5 million seed round to advance development of its novel quantum chip architecture.

ETH Zurich spin-off startup ZuriQ has announced the completion of a $25.5 million seed round. The company is dedicated to developing a novel quantum chip architecture, which is claimed to offer stronger scalability than existing solutions, and is expected to accelerate the large-scale development of the quantum computing sector.

3 minutes ago

South Korea's sluggish stock market has driven retail investors to shift to the US stock market, with net purchases exceeding 5 trillion won this month.

According to South Korea's Seoul Economic Daily, amid the continued downturn in the South Korean stock market, domestic investors have once again shifted to US equities, with net purchases exceeding 5 trillion won this month. Data from Seibro, the securities information portal of the Korea Securities Depository & Clearing Corporation, shows that between the 1st and 27th of this month, South Korean investors' net purchases of US stocks totaled $3.58999 billion, roughly 5.5 times the net purchases for the entire month of June. As of the 23rd, net purchases stood at only $2.53026 billion, but rose by $1.05973 billion in the subsequent two trading days. Retail investor funds are mainly concentrated in semiconductor and technology stocks. The most purchased product this month is the Direxion Daily Semiconductor Bull 3X ETF, which tracks the Philadelphia Semiconductor Index, with net purchases reaching $1.75919 billion. SK Hynix ADRs have also remained highly sought-after, with net purchases climbing to $812.38 million as of the 27th.

3 minutes ago