Last night and this morning’s major news (July 27–July 28)

Jensen Huang posts again on X, saying the defense side needs to be built into a “frontier AI ecosystem” jointly composed of open-source and closed-source leading models

NVIDIA founder and CEO Jensen Huang posted again on X, saying that attackers have already mastered frontier AI. He said the defense side needs a “frontier AI ecosystem” made up of both open-source and closed-source frontier models, and that a global community should amplify defensive capabilities. He mentioned that in the earlier Hugging Face security incident, some closed-source AI obstructed key evidence collection, while open-weight frontier models played a role in deterring intrusion—so he decided to promote this open security AI alliance. Earlier today, it was reported that NVIDIA announced it is forming an open secure artificial intelligence alliance together with multiple founding members, advancing AI security and safeguards.

About 6.93 million HYPE tokens will be un-staked on Hyperliquid within the next 7 days, with a total value of about $415 million

About 6.93 million HYPE tokens (total value about $415 million) will be un-staked on Hyperliquid within the next 7 days. Of these, the amount to be un-staked on July 30 alone is about 3.30 million HYPE tokens (total value about $198 million), one of the largest single-day un-staking events in the platform’s history.

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

About 40 minutes ago, two newly created wallet addresses collectively withdrew 6,765 BTC from Binance, worth about $441 million at current prices.

China’s Ministry of Commerce criticizes U.S. hype over AI “distillation,” saying U.S. companies also use Chinese models heavily

China’s Ministry of Commerce responded to the United States’ plan to investigate and sanction Chinese AI companies on the grounds of “distilling U.S. frontier models” and “stealing intellectual property,” accusing the U.S. of politicizing tech and trade issues, applying double standards, and practicing what it called “AI hegemony.” The Ministry said Chinese AI companies have long pursued independent R&D, and some model performance is already at leading levels. It also said that many U.S. AI companies distill Chinese models in their R&D and training. More than 200 U.S. startups and some multinational companies have publicly opposed restricting access to China’s open-source models, arguing that model distillation is a common technology practice in the industry. The Chinese side urged the U.S. to stop smearing and suppressing China, saying that if the U.S. substantially harms China’s interests, it will take necessary measures to safeguard legitimate rights and interests.

Strategy cash reserves increase by $525 million to $3.75 billion; nearly 843,775 BTC holdings unchanged

In an 8-K filing Strategy submitted to the SEC, the company disclosed that between July 20 and 26 it sold 5.429 million shares of MSTR through an ATM program, raising net proceeds of about $545 million. No other series of preferred stock were sold this week. As of July 26, the amount of MSTR available for issuance was about $22.98 billion. In the same period, under a share repurchase program, the company repurchased 28,893 shares of STRC preferred stock for $25 million, and it did not repurchase MSTR. This week, there were no additional BTC purchases; its holdings remained 843,775 bitcoins, with a total capital deployed of about $63.69 billion and an average purchase price of about $75,476 per coin. Cash reserves were $3.75 billion.

Kraken’s parent acquires Magic Labs’ wallet business; the original company pivots to focus on the Newton protocol

Kraken’s parent company Payward has agreed to acquire Magic Labs’ embedded wallet business. The transaction will be structured as an asset sale, and both sides will keep independent corporate structures. Since 2018, Magic Labs has created more than 60 million wallets and serves more than 200,000 developers. After the deal closes, wallet customers will migrate to Payward Services. Magic Labs will be renamed Newton Labs and will focus on developing Newton Protocol—an on-chain financial authorization layer that executes compliance, security, and risk-control strategies in advance on transactions before they are put on-chain. Newton Labs’ first product built on this protocol is VaultKit, targeting institutional treasury scenarios.

Bitmine adds 9,946 ETH over the past week and repurchases 6.1 million shares of common stock

Bitmine Immersion Technologies (NYSE: BMNR) added 9,946 ETH and repurchased 6.1 million shares of common stock over the past week. As of July 27 Beijing time, its total ETH holdings rose to 5,787,414 ETH, about 4.8% of Ethereum’s total supply. BitMine’s total value of crypto assets, cash, and other investment assets currently held is about $11.8 billion, including about $268 million in cash and marketable securities, 208 bitcoins, about $180 million in Beast Industries equity, and an investment of about $61 million in Eightco Holdings (ORBS). The amount of ETH it has staked is 4,917,189 ETH (about 85% of total holdings). Based on $1,948 per coin, the total value is about $9.6 billion. Its current annualized staking income is about $254 million.

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

Stablecoin issuer Circle (CRCL) acquired nearly 1,000 licensed blockchain-related patents from IBM, covering areas including 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, the Circle Payments Network, its Arc blockchain, and financial tools for AI agents, and it will explore subsequent commercial cooperation with IBM after the acquisition. Circle previously obtained its first parallel blockchain data processing patent and joined LOT Network to reduce the risk of “patent troll” lawsuits. CRCL’s stock price rose about 2.5% in premarket trading.

HashKey merges regional exchanges into one unified platform and application

Hong Kong digital asset service provider HashKey Holdings announced that it will merge its HashKey Exchange and HashKey Global into one unified platform and application. Regardless of whether users come from Hong Kong, Global, Singapore, or the Middle East, they will connect through the same front-end entry. The platform will carry out localized compliance according to the relevant jurisdiction. HashKey said this shift changes from the early model of operating in a region-by-region fragmented way and simplifying compliance, to an architecture of “one unified entry, local compliance.” Reports say platforms such as OKX and Kraken have adopted similar approaches: while unifying front-end access, they serve markets such as Singapore, Dubai, and the EU through different legal entities.

Lido launches a $16.5 billion ETH staking migration and plans to cut one-third of validators

Lido has launched what it says is the largest upgrade since its 2023 V2. It will migrate more than 8 million stETH (about $1.65 billion) to a new validator architecture after Ethereum’s Pectra upgrade. The upgrade is expected to reduce the total number of validators by about one-third overall. Witness messages per epoch on the network will decrease by about 29% to reduce load on the consensus layer, without directly affecting Gas fees or transaction speed. This upgrade will migrate the existing 34 professional node operators to Curated Module v2, and for the first time will require them to post ETH staking margin as collateral, taking on economic responsibility for node performance and security with their own funds. Lido expects this migration will slightly compress the protocol’s overall annualized staking yield by about 0.28%.

China-made immersion DUV lithography machines begin small-batch production; the first batch will ship 5 units this year

A state-owned company-backed firm in Shanghai has started small-batch production of domestically made immersion DUV lithography machines. This year it plans to ship about 5 units, rising to about 20 units in 2027. The first batch of equipment will be delivered to SMIC, HuaHong Semiconductor, and CXMT. Semiconductor foundries will need to validate accuracy, stability, and integration with existing production lines, and the process may take months or longer. Reports say most components of the equipment have been localized, but some key components still rely on Japan. Overall performance and manufacturing quality still lag behind ASML. In 2025 alone, ASML delivered about 131 immersion DUV lithography machines, so domestic equipment still has a gap from large-scale replacement.

Amazon to launch more than 5,000 direct-to-cellphone satellites to challenge Starlink

Amazon filed a notice stating it plans to launch 5,105 direct-to-cellphone satellites starting in 2028. It will roll out satellite communication services directly for smartphones, posing a direct challenge to SpaceX’s leading advantage in mobile connectivity.

Global liquidations totaled $445 million in the past 24 hours; both longs and shorts got liquidated

According to CoinGlass data, over the past 24 hours, 116,561 traders worldwide were liquidated, with total liquidation amount of about $445 million. Long liquidations were about $214 million and short liquidations were about $230 million, with overall magnitude nearly balanced. Binance saw liquidations of about $208 million (46.73%), Bybit about $55.1 million, OKX about $44.15 million, and Hyperliquid about $48.45 million. The largest single liquidation occurred on the Aster platform in the ETHUSDT contract, amounting to about $8.7164 million.

Ondo launches new execution layer Ondo Network, replacing the original Ondo Chain route

Ondo Finance announced the launch of a new execution layer, Ondo Network, calling it the “evolved version” of the earlier Ondo Chain and stating it will no longer run in parallel with Ondo Chain. Ondo said that during development of the perpetual contract exchange Ondo Perps, it found that the trading bottleneck lies mainly in execution rather than settlement. Therefore, it separates execution and settlement/verification: execution of high-speed, default-private trades is handled by a secure hardware enclave, while a decentralized attestor network verifies the running code. Asset transfers are currently settled on Ethereum, and later will support more chains by periodically submitting state on-chain. Ondo Network is a general-purpose execution layer; besides perpetual contracts, it can be extended to spot trading, lending, structured products, and other applications that require fast, private, and verifiable execution. The ONDO token’s role remains the core of governance and incentives.

ChangXin Technology’s “wealth-making myth”: 7 executives become “billionaire” class; Hefei state assets gain a trillion

ChangXin Technology officially listed on the STAR Market today. Its wealth-making myth has brought unrealized gains of over one trillion (equivalent to an equity-book-value market cap of over 1.21 trillion) to Hefei’s state assets. Seven executives advanced to “billionaire” status: Chairman Zhu Yiming and core technical personnel Cao KanYu saw their shareholding values exceed 10 billion RMB. Executive vice president Zhu Wenju (2.915 billion RMB), co-presidents Zhang Yu (2.765 billion RMB), senior vice president and CFO Huang Danyang (1.983 billion RMB), senior vice president and core technical personnel Li Hongwen (1.523 billion RMB), and vice president and board secretary Yuan Yuan (1.107 billion RMB). At the employee shareholding level, more than 6,700 people benefited, and at least 237 millionaires were created. However, the market value of all shareholders’ holdings is based on a static calculation using the opening price of 49.50 yuan and the total shares outstanding after issuance of 66.881 billion shares. It is only an accounting “paper gain.” With the stock price continuing to fluctuate, accounting gains do not mean the gains can ultimately be realized for cash.

OpenAI and Anthropic are reported to have lobbied to block China’s open-source models

OpenAI and Anthropic have held closed-door communications with U.S. regulators in Washington, seeking to push for stronger restrictions on open-source models. What was originally a debate over technical routes has now escalated into a fight over who gets to set industry rules. The core background for why OpenAI and Anthropic want to restrict open-source models is that Chinese AI companies have made rapid breakthroughs in open-source model capabilities in recent years. Open-source models lower the barrier for enterprises and developers to use advanced AI technologies, and help Chinese models quickly gain users worldwide. Overseas developers and companies can download, modify, and deploy these models directly without having to pay expensive API calling fees. This has also made OpenAI and Anthropic feel competitive pressure.

Analysis: Not all Bitcoin mining firms can pivot to AI; power resources become the core competitive advantage

At the first Energy Investment Forum (EIF) held in Dallas, attendees said that the AI wave is fundamentally driving large-scale energy infrastructure construction, not just a software competition. Bitcoin mining firms, drawing on years of experience finding low-cost electricity, building modular computing facilities, and participating in grid regulation, have certain advantages in the expansion of AI data centers. However, having power resources does not automatically mean the conditions are in place to build AI data centers. Alexander Neumüller, a researcher at the Cambridge Centre for Alternative Finance, said preliminary data shows that from June 2024 to December 2025, global Bitcoin mining’s annual electricity consumption rose from 138 TWh to about 190 TWh. About 10% of miners have started using some electricity for AI or high-performance computing (HPC), and more than 40% of companies are exploring related transformations. In the future, combining miners with AI infrastructure could take multiple forms, including building large AI data centers, providing distributed computing power, continuing Bitcoin mining, or transitioning into providers of grid services.

Korea’s single-stock leveraged ETF daily trading value plunges 27%; capital cools before new 30 million won margin rules take effect

As Korean financial regulation tightens, trading heat for single-stock leveraged ETFs has rapidly cooled. According to data from Korean exchanges, on July 27, the combined trading value of 14 leveraged ETFs and 2 inverse ETFs tracking Samsung Electronics and SK Hynix fell to 74.6 trillion won, down 27% from the previous trading day and down more than 30% from the week’s average daily trading value. Their share of total ETF trading value in South Korea fell to 36.9%. Among them, products related to SK Hynix recorded trading value of 52.3 trillion won, accounting for about 70% of the total trading value of single-stock leveraged and inverse ETFs. The market believes the cooling is mainly due to expectations of new Korean financial regulatory rules. Starting July 31, individual investors buying or increasing positions in single-stock leveraged ETFs/ETNs must hold a 30 million won cash base margin, and regulators also plan to raise the minimum trading unit to limit high-frequency short-term trading and reduce market speculation risk.

Trump: Interest rates should come down; we’re having good negotiations with Iran

When talking about Iran, U.S. President Trump said, “We are having good negotiations.” There is a good chance that something will happen; Iran made a meeting request through a coordinating party. When talking about the Federal Reserve, Trump said Fed Chair Waller must deal with issues of the committee. Interest rates should be lowered.

Uphold announces layoffs of 17% to respond to slowed trading activity due to weak market conditions

Digital asset trading platform Uphold announced it will cut about 17% of its global employees, affecting a total of 85 full-time employees and contractors. The company said this adjustment is intended to allocate more resources to fast-growing enterprise-grade business in response to the recent slowdown in retail trading activities caused by the subdued crypto market. Uphold said it will not close its UK or other international offices, and operations in all regions will continue normally. The company is currently providing crypto trading and custody infrastructure for banks, fintech companies, and brokers, and plans to upgrade its consumer-side application in 2026 into a multi-asset blockchain financial platform supporting features such as U.S. stock support, tokenized securities, asset-collateralized lending/borrowing, credit cards, prediction markets, and DeFi yield.

Minnesota prediction market ban is halted; Kalshi and Polymarket win

On Monday, U.S. District Court Judge Katherine Menendez for the District of Minnesota ruled that Minnesota’s law passed earlier this year prohibiting prediction market operations may violate the federal Commodity Exchange Act (CEA). The ruling granted a preliminary injunction requested by Kalshi, Polymarket, and the CFTC against the law. The court said the plaintiffs are very likely to succeed on the merits because the state law seeks to regulate “swaps” transactions that fall under CFTC jurisdiction—prediction market contracts are designed in that structure. The judge noted that some contracts may not be protected by federal law, but a targeted injunction would be difficult to implement. The court also said that if the law is not halted, it would cause irreparable harm to Kalshi and Polymarket, and the preliminary injunction would remain in effect until a final ruling.

Trump backs Warsh for rate cuts, calls for the U.S. interest rate to be the lowest in the world, blasts the Fed’s “anti-cut” camp

U.S. President Trump on Monday expressed support for Federal Reserve Chair Kevin Warsh while insisting that the U.S. should have the lowest interest rates in the world. While endorsing the Fed leader he nominated, Trump questioned the motives of other members of the Fed Board who he said are unwilling to ease monetary policy. In an interview with reporters aboard Air Force One, Trump said Warsh is “very good,” but that there are members on the Fed Board whom he believes have become politicized. He said, “Kevin is very good, but he has a board, and the board members are very political, I have to say. He wants to do the right thing. I know what he wants to do.” In his latest remarks, Trump criticized Fed officials again and suggested that some policymakers may be blocking rate cuts for improper purposes. “You need to get agreement from some people who may have bad intentions. Interest rates should come down. The annualized GDP growth rate of this country could have been 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 thirty years ago.”

Bitwise: Ethereum, Solana, and Avalanche networks are more active and cheaper—even if token prices fall

Over the past year, network activity on Ethereum, Solana, and Avalanche has increased and usage costs have decreased, but the prices of ETH, SOL, and AVAX have all fallen by about 50% or more. Bitwise’s head of on-chain research, Kam Benbrik, said the fundamentals and market sentiment have diverged significantly—on-chain activity is actually growing, but protocol design makes block space cheaper, causing revenue to drop sharply. Bitwise’s inaugural quarterly staking report showed that by the end of Q2, Ethereum staking totaled 40.2 million ETH (one-third of total supply), with most new staking coming from institutions. The report also said that most staking rewards for Ethereum and Solana come from new token issuance rather than user fees (Ethereum 93%, Solana over 90%); unstaked holders face dilution risk, and increased staking participation also dilutes returns. Bitmine holds about 4.9 million ETH out of roughly 5.8 million, making it the largest Ethereum reserve company currently. Ethereum’s annualized staking yield in Q2 was 2.84%, and Solana’s was 6.25%.

Analysis: Bitcoin not hit by AI selloffs, but the Fed’s key meeting may determine the next direction

On Monday, Bitcoin held near $65,000, up about 4% over the past few days. Ethereum touched a nearly two-month high, while AI-related tech stocks pressured and fell. Analysts said this week’s Fed policy decision, inflation data, and the earnings reports of tech giants will determine whether Bitcoin can break out of its multi-month trading range or retreat to the June lows. LMAX Group market strategist said resilience in crypto markets amid volatility in traditional markets is encouraging and supports the view that digital assets are starting to decouple from traditional risk assets. Technically, Bitcoin needs to break above $67,300 to exit its consolidation range since June; Ethereum faces a key resistance at $2,000. Bitmine chairman Tom Lee said the ETH/BTC ratio has risen to a three-month high, a bullish signal. But Nansen senior research analyst said the rebound lacks strong buying support—Bitcoin futures open interest is falling and order book data points to net sell pressure—so they still expect a pullback to the $52,000–$58,000 range unless market conditions improve. The Fed’s rate decision and core PCE data will be key catalysts this week.

Microsoft AI releases its self-developed network security model MAI-Cyber-1-Flash

Microsoft AI has released its new self-developed network security model MAI-Cyber-1-Flash. This model is Microsoft’s latest R&D achievement in the field of network security technology, and is expected to be useful across multiple cybersecurity application scenarios such as identifying malicious code, issuing early warnings for network attacks, and checking vulnerability risks—providing stronger technical support for network defense systems across industries.

Bitmine receives 7,500 ETH from BitGo 4 hours ago, about $14.61 million

Bitmine continued to increase its ETH holdings this week. It received 7,500 ETH from BitGo 4 hours ago (about $14.61 million).

Apple’s market cap surpasses Nvidia, reclaiming the No. 1 spot globally

Local time on Monday, Apple surpassed Nvidia again to become the company with the highest market cap globally for 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 worried about the massive costs of building AI infrastructure and the overall decline in AI chip stocks. At the same time, Apple’s stock rose 1%, and its market cap reached $4.95 trillion. The company will release its highly anticipated earnings report after the market closes on Thursday. Nvidia has held that top position since June 2025, when it took the No. 1 market cap spot from Microsoft, and it briefly touched a $5 trillion market cap in October last year. In 2026 so far, Nvidia’s stock is up only 4%, while Apple is up 24%. Apple has performed better than the broader market because it has stayed cautious on AI capital expenditures and is more inclined to lease computing power rather than build infrastructure in-house—an approach that has been recognized by investors.

SpaceX’s market cap evaporates by more than $1.2 trillion; it has “dropped” by one Tesla

Since its June peak at $225.64, SpaceX’s market cap has evaporated by more than $1.2 trillion—almost the same as the market cap of another company owned by its founder, Musk’s Tesla. On Monday, SpaceX suffered a 13th drop in 16 consecutive trading days, closing at $113.50, down more than 1%. In the options market, retail investors are still buying large amounts of call options that are nearly impossible to exercise, betting on a quick rebound in the stock. SpaceX’s first earnings report will be released next week. Starting August 6, the lock-up period for about 911.5 million internal shares will begin to expire, representing about 20% of total shares outstanding. Traders believe the release of the lock-up may not be as severe as the market worries, but it will not provide support for the stock price either.

Grayscale: HYPE ETF inflows accelerate; performance outpaces BTC, SOL, and XRP in the same period

According to research data published by Grayscale, based on the share of assets by market cap, HYPE ETF inflows are accelerating, and relative performance has outpaced BTC, ETH, SOL, and XRP. Grayscale said Bitcoin inflows are the most steady and consistent. Ethereum saw sharp peaks earlier on. Solana and XRP showed healthy inflows early in the lifecycle, while HYPE’s launch performance in the same lifecycle stage outperformed Bitcoin, Solana, and XRP.

U.S. Senate temporarily shelves the Clarity bill, prioritizing other agendas first

Senate Majority Leader John Thune has temporarily tabled the Clarity bill and is prioritizing advancing confirmations of government officials and the Russia sanctions bill. The Senate will also use Tuesday and Wednesday this week for the funeral of the late Senator Lindsey Graham. Procedural rules limit the Senate to handling only one controversial bill at a time, so the Clarity bill may not be able to enter the voting process until next week at the earliest (the last few days before the August recess on August 8). The two parties are still seeking a compromise on moral-terms provisions that limit federal officials, including President Trump, from participating in crypto projects. The White House announced last week that Trump agreed to accept those provisions, but Democrats said the commitment is not strong enough, and both sides agreed to continue negotiations. If it cannot pass this year, the industry will face regulatory uncertainty. Even if the Senate passes it, the House of Representatives would still need to approve it again, and recent internal disagreements within the House Republicans have already affected progress on other legislation. After the September return, there will be only a few weeks until the lame-duck session following the November election, which could either produce legislation or result in a political stalemate.

Korea’s KOSPI declines widen to 7%; SK Hynix falls 10%

Bybit quotes show South Korea’s KOSPI index’s drop widening to 7%, with SK Hynix down 10% and Samsung Electronics down more than 8%.

SK Hynix follows in SpaceX’s footsteps after breaking its offering price

SK Hynix’s U.S. depositary receipts (ADRs) fell to a new all-time low Monday. The stock had listed on the U.S. market earlier this month with a fundraising size of 26.5 billion USD, but as investors continued to withdraw from the overvalued semiconductor sector, the stock price fell sharply. During the day, it plunged as much as 10% to $139.01, far below the $149 offering price, and ultimately closed at $143.02. With this, SK Hynix—along with individual stocks like SpaceX—became one of the first companies among the largest U.S. IPOs this year to trade below its offering price. Semiconductor stocks as a whole faced pressure, and the widely watched semiconductor index continued its recent downtrend, closing at the lowest level since May 19. Meanwhile, the cost of default protection for corporate bonds of Nvidia (NVDA.O) rose, as the value of a new round of AI infrastructure deals could exceed 75 billion USD.

Arthur Hayes buys 3,298 ETH over-the-counter using 6.32 million USDC again

After shutting down BitMEX, Arthur Hayes has increased his trading frequency. Two hours ago, he spent 6.32 million USDC over-the-counter via FalconX and Galaxy Digital to buy 3,298 ETH. Since July 15, he has cumulatively spent 13.82 million USDC to buy 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 bank-as-a-service provider Cross River will provide X Money with banking infrastructure, supporting peer-to-peer payments, FDIC-insured interest-bearing accounts, and Visa debit card services. Cross River’s banking platform and payment channels will support X’s “super app” strategy and are designed to expand more financial products over time. X Money entered limited testing in May 2025 and expanded to external testing in March 2026. X has obtained money transfer licenses in more than 40 U.S. states and is registered with FinCEN to support peer-to-peer payments on the platform. The announcement did not mention support for cryptocurrencies or stablecoins.

Franklin Templeton expresses support for the Clarity bill, calling for regulatory clarity for the industry

Franklin Templeton (Franklin Templeton) posted on X saying it publicly supports the Clarity bill being passed, and that the bill would clarify the regulatory framework for crypto assets. It said investors will be able to understand what protective measures apply, enterprises will be able to clarify which regulator has jurisdiction, and it is time to provide the regulatory clarity the industry needs.

Anthropic Claude sharing misconfigured so shared chats can be publicly searched, leading to user privacy leaks

Because the Claude chat sharing feature at Anthropic lacks a noindex tag, conversations generated via “share links” can be indexed by Google and become publicly searchable, exposing users’ privacy. A Reddit user discovered hundreds of full Claude conversations through a simple search on July 25, exposing sensitive information including crypto wallet mnemonics, Social Security numbers, and legal discussion content. The root cause is that the share links are missing the noindex tag. Although robots.txt blocks crawling, once the links appear on third-party platforms, Google can still index the pages and display entries saying “no information available.” The same issue also affects Claude’s public Artifacts, leaking employees’ salary tables, internal CRM chat records, and unpublished product roadmaps. Google began removing the relevant results on July 26, but Bing is still indexing them. A GitHub repository archived 453 Claude conversations and 519 Grok conversations, totaling 11,241 messages. Users can revoke sharing by using the settings page, but saved data cannot be deleted. OpenAI previously leaked thousands of conversations to search engines due to a similar issue in September 2025.

Coinbase CEO: AI will make crypto technology more important; agent payments could become a key application

Coinbase CEO Brian Armstrong said that AI will make crypto technology more important rather than replace it. AI agents will rely on stablecoins and blockchain networks for payments, trading, and financial services, and in the future, the daily trading volume completed by AI agents may exceed the total of all humans. He pointed out that traditional banking systems were not designed for software to operate 24/7, and that AI agents need programmable money in real time. Coinbase is positioning USDC, the Base blockchain, and the x402 payments protocol as core infrastructure for this market. x402 allows software to pay for online resources via machine-readable payment requests. Armstrong said these tools already support most agent-driven payments, and Coinbase describes this strategy as “agent finance” (AiFi). Recently, Coinbase Business rolled out USDC AI agent payment functionality for enterprises and called it a “high-conviction bet.”

A-shares open; C ChangXin falls 7.7%

According to Bybit quotes, A-shares opened with the Shanghai Composite down 0.91%, the Shenzhen Component down 2.25%, and the ChiNext down 3.12%; C ChangXin fell 7.7%.

Hyperliquid SKHX suffers a 17.9% flash drop in South Korea’s SK Hynix abnormal order; liquidation amount surpasses Binance

Hyperliquid SKHX flashed down 17.9% this morning, and the liquidation amount over the past 4 hours has surpassed Binance. The cause was an abnormal order in NXT pre-market trading by SK Hynix (executed 1 share for 1.272 million won, about $867). After a trading halt was triggered when the stock dropped up to 30% due to poor liquidity, Hyperliquid’s price fell sharply as the Oracle followed, and Binance’s price also dropped due to arbitrage trading. The price has now returned to normal.

Analysis: Binance retail inflows are about twice that of whales; whale inflows down 44.3% from the recent peak

CryptoQuant analysis says Binance Bitcoin inflow data shows a significant split. Whales’ 30-day total inflows were $3.9 billion, down 44.3% from the June 12 peak of about $7.0 billion. Retail inflows were $7.8 billion, down only 22% from around $10.0 billion on June 5. Retail inflows are currently about twice whales’, with a gap of $3.9 billion. The analysis says this divergence coincides with the eve of the Fed’s FOMC meeting on July 28–29. Fed funds futures are currently pricing about a 36% probability of a 25 basis point rate hike, and keeping the target range unchanged at 3.50%–3.75% is the more likely scenario. From the perspective of Bitcoin, an unexpected rate hike could support the dollar and Treasury yields, increasing volatility in risk assets. If rate hikes pause alongside a more dovish guidance, macro pressure could be partially alleviated. The Fed’s decision on Wednesday will be the key variable to test whether this divergence persists or starts to converge.

What you should know about AI

A curated selection of the most worth-watching AI news from the past 24 hours—helping you filter AI noise. Source: PANews AI Observers

Moom AI open-sources a 2.8 trillion-parameter flagship model Kimi K3

Moom AI released the Kimi K3 model on Hugging Face. It has 2.8 trillion parameters, built based on the Kimi Delta Attention and attention residual architecture. The model is claimed to be the first open-source model to reach the 3 trillion-parameter level. It is designed for long-range programming, knowledge work, and reasoning scenarios.

NVIDIA leads the formation of an open secure AI alliance

NVIDIA, together with dozens of companies including Microsoft, IBM, SpaceXAI, Palantir, and Dell, has formed the Open Secure AI Alliance. The alliance aims to develop open-source AI security tools and promote open-model defenses in the field of cybersecurity in response to recent Hugging Face security incidents.

Long-term strategic partnership between SSI led by Ilya and NVIDIA announced

Ilya Sutskever’s Safe Superintelligence Inc. (SSI) has announced a long-term strategic partnership with NVIDIA. NVIDIA not only invested in SSI, but will also provide SSI with the next-generation Vera Rubin platform, boosting SSI’s computing capability by an order of magnitude. The two sides will also work together to advance technical progress on NVIDIA’s computing platform.