PANews

PANews August 1, a SlowMist security team issued an alert: an unverified contract exposed an unrestricted low-level call vulnerability due to selector 0x42be3129. It lacked access control and target data validation, resulting in about 16.6 WETH being stolen. The attacker used the contract’s existing ERC20 allowance to bypass owner checks and execute unauthorized transferFrom operations.

Stand With Crypto says its supporters have contacted Congress 1 million times in support of the Clarity Act; with only 7 days left before the Senate adjourns on August 7, it calls for action during the session. Asset managers including BlackRock support the bill, and Galaxy Research projects the probability will fall to 30%. New York State Attorney General Letitia James warns that the bill could restrict interstate enforcement and urges stronger regulation. A minority analysis from the Senate Banking Committee says that revising the ethics provisions does not affect Trump’s existing business and could be used to evade future restrictions, pushing Democrats to seek broader ethical safeguards.

Darkfost said that in July, Binance net withdrew about $2.2 billion worth of stablecoins, which now accounts for 70% of the total stablecoin supply on exchanges. Cumulative net outflows within the year reached $7 billion, indicating a sharp contraction in demand with no sign of reversal. Stablecoin outflows suggest liquidity is leaving the crypto market; investors are more inclined to withdraw funds than redeploy them, reflecting ongoing risk aversion. Despite liquidity drying up, Bitcoin still holds above $60k; if demand recovery is insufficient, further pullbacks could continue.

Bitcoin rose about 7.5% in July, still stubbornly under bearish pressures such as the Fed, the bond market, AI trading pullbacks, and the Coldcard incident. Its resilience came from the clearing of derivatives after the late-June selloff, with leverage below that of equities. Outlook: macro uncertainty persists and it may enter a new volatility regime, oscillating among rate cuts, pauses, and rate-hike expectations. In the short term, the defensive positioning remains; whether ETF inflows attract back depends on whether the Fed path is clear, real yields, the US dollar, and ETF demand.

BNB Chain said on X that the wallet address used to generate tokens for video tutorial creation was created by a former employee; after the employee left, they still had unauthorized access to the associated recovery phrases and used them to generate new private keys. Recently, the address was also used to deploy a new Meme token. BNB Chain stated that it did not create, authorize, promote, or participate in the token’s issuance, that the token is unrelated to BNB Chain and is not officially recognized. It has taken legal action against the involved former employee and is cooperating with relevant authorities to handle the matter.

According to CoinDesk, XRP Ledger 3.3.0 will be released next week. Of the five amendments, two—Batch and Permission Delegation—were previously withdrawn due to vulnerabilities, and both are planned to be disabled in 2025. The other three are Confidential MPT (privacy protection), Sponsored Fees and Reserves (institutional fee coverage and reserve funds), and Dynamic MPT (modifiable attributes after issuance). Amendments require 80% validator approval and must remain in place for two weeks to take effect.

Where is this current crypto bear market in its cycle? Fidelity’s Q3 signal report provides a set of coordinates: the weighted NUPL has fallen to -0.01, BTC dominance has risen to 68%, and multiple metrics are nearing historical capitulation ranges. Referencing the roughly 300-day bottom cycles in 2018 and 2022, with the current 203 days of adjustment, the market may have already completed two-thirds of the decline cycle. The report notes that October 2026 is a time window worth watching, but it does not constitute a bottom-picking prediction.
Author: Fidelity Digital Assets Research Team
Compiled by: Jiahua, ChainCatcher
I. Market Overview
Figure: Dashboard overview of signals for the three major assets
Weighted NUPL: BTC alone props up the market
Weighted NUPL is used to measure whether a market-cap-weighted digital asset portfolio is in an unrealized profit or unrealized loss state. Because BTC

PANews August 1 news: According to monitoring by Lookonchain, Arthur Hayes (@CryptoHayes) sold 6.16 million SYN (US$658k) and bought 3.05 million ENA (US$248k).

Darkfost says Bitcoin is still in a pullback channel, with the price below the 21-day and 50-day moving averages. A positive signal will only appear if the 21-day price re-crosses above the 200-day moving average. The RSI is weak but a divergence has appeared. The weekly trend has reset, and the medium- to long-term momentum may gradually recover. Wave C is still in progress: the short-term bounce could reach $68k before another dip, targeting $57,000–$54,000. If Wave 4 bounces to above $68k, Wave C (or higher) could be concluded, which would need a few weeks to complete.

PANews August 1 — According to DefiLlama’s latest data, Gate saw net inflows of $543 million over the past 24 hours, $615 million in net inflows over the past 7 days, and $591 million in net inflows over the past 1 month, all ranking first globally.

A Coldcard vulnerability caused about $70 million in stolen Bitcoin, and Zhao Changpeng said that hardware wallets and old wallets also carry risks. He advised spreading funds across multiple wallets to reduce risk, but key management is complex and there is no 100% secure solution. The attack stemmed from a random number generator bug in the 2021 firmware: within 41 minutes, funds were stolen from address 1196 and 1,082.65 BTC were taken, most of the wallets had been dormant for a long time. Coldcard has urgently updated its firmware and advised migrating funds, sparking debate about the limitations of self-custody.

According to Murphy’s tweet, BTC’s URPD shows a high concentration of chips at two price levels of $63k and $62k, reaching 890k BTC and 710k BTC respectively. Together, they account for about 8% of the circulating supply, higher than the general level. This concentration resembles the period before the 2022 FTX incident, and may either increase price sensitivity, trigger volatility, and drive chip redistribution, or serve as a directional signal in the later stage of a bear market.

PANews August 1, DeFi Kingdoms, a chain game, tweeted that the DFK Chain based on Avalanche L1 will stop operating on August 28. The team said it will prioritize completing a secure migration of players’ assets to the Avalanche C-Chain and plans to open the SDK, allowing third-party developers to build based on DeFi Kingdoms’ systems, mechanisms, and assets. More details on the asset migration will be released within the next few weeks.

PANews, August 1: According to official data, over the 7 days up to July 30, Circle issued about 6.2 billion USDC, redeemed about 7.2 billion USDC, and the circulating supply decreased by about 1 billion tokens. USDC total circulating supply is 71.8B tokens, with reserves of about $7.19 billion, including overnight reverse treasury repo of about $71.9B; treasury bills with maturities of less than 3 months of about $53.4B; deposits of systemically important institutions of about $10.1B; and other bank deposits of about $1.3B.

Edited by: Xu Chao
AI compute power and infrastructure trading is going through a fierce boom-and-bust bubble phase. Recently, Situational Awareness LP (SALP), a hedge fund founded by former OpenAI employee Leopold Aschenbrenner, was catastrophically liquidated after its primary broker was forced to liquidate its highly leveraged concentrated positions in AI-related stocks and Anthropic equity during a market pullback—prompting major Wall Street firms to scramble to buy up its remaining assets.
In the latest podcast interview, former hedge fund manager and well-known financial commentator Martin

PANews August 1 news, according to Caixin Media, Amazon disclosed in its 10-Q quarterly report that it has completed a total $50 billion full investment in OpenAI. In the first quarter of this year, Amazon invested $15 billion in OpenAI’s Series C preferred stock and pledged to make an additional $35 billion purchase. In the second quarter, the company spent $13.7 billion of the pledged amount to purchase OpenAI.

PANews August 1 news, according to monitoring by Lookonchain, the whale address 0x2684 has once again bought 7,919.5 ETH (worth $14.89 million). Since June 30, the whale has bought a total of 74,265 ETH (worth $131.5 million), at an average price of $1,771; and 1,050 WBTC (worth $67.49 million), at an average price of $64,277.

The total trading volume of South Korea’s top five exchanges in the first half fell year on year by 54.6%, to about $366.58B; from the beginning of July to the 27th, it fell year on year by 16.9%. Upbit’s market share rose to 67.4%, but its volume fell by 10%; Bithumb’s volume fell by 26.6% to 4.7071 trillion won, its market share fell to 27.1%, and the gap between the two was 40.3 percentage points. Bitcoin’s daily volatility was 1.25%, and altcoins’ was 1.79%, lower than the KOSPI. Previously, it said that daily trading value fell year on year by 88% sharply, forcing Korbit to sell assets.

PANews August 1 news: Singapore’s unified AI model API platform CloudSome has completed a $3.6 million seed round financing. The investors have not been disclosed. The funds will be used to strengthen the platform, expand access to leading AI models, and provide more reliable infrastructure for developers and enterprises worldwide.