Important News from Last Night and This Morning (July 10 - July 11)

Development of the standalone browser ChatGPT Atlas is expected to cease on August 9, with its features integrated into the new desktop application.

It has been announced that the standalone desktop browser ChatGPT Atlas will be discontinued, with its related functionalities integrated into the newly released ChatGPT desktop application. Atlas is expected to officially cease operations on August 9, and migration guidance will be provided through in-app notifications and emails. The new ChatGPT desktop application integrates the ChatGPT Work agent and ChatGPT Codex, featuring full browser capabilities, and also offers a Chrome browser extension for users to access ChatGPT functionalities within their existing browsers. Related reading: Major Update for ChatGPT: Cross-platform functionality, one-click website creation, and lower costs.

Final approval from the OCC has been granted to establish a national trust bank, operating under the name Circle National Trust.

It has been announced that the Office of the Comptroller of the Currency (OCC) has granted final approval to establish the national trust bank First National Digital Currency Bank, N.A., operating under the name Circle National Trust. This bank will serve as a federally regulated national trust bank, providing digital asset custody services to itself and its affiliates, and will later open custody services to certain institutional clients (including banks and regulated derivatives institutions) as needed. According to the approved business plan, this license also reserves space for future inclusion of USDC reserve management within the federal regulatory framework.

Approximately 8,700 ETH transferred to Coinbase Prime, valued at about $15.81 million.

Approximately 8,700 ETH, worth about $15.81 million at current prices, has been transferred from its Ethereum spot ETF associated wallet to Coinbase Prime.

AI voice company completes $100 million seed round financing, with NVIDIA as an investor.

A Paris-based startup providing voice AI models has announced that its total financing has surpassed $100 million, and in the latest seed round expansion, NVIDIA has been introduced as a new shareholder. It stated that it has recently launched products such as real-time speech-to-text (STT), text-to-speech (TTS), Gradium Translate, and Phonon within a few months, and plans to establish a new office in San Francisco to be closer to the local startup ecosystem and accelerate talent recruitment.

ZachXBT: An early Solana whale suspected of theft of 18,100 SOL, valued at about $14.2 million.

An early whale address associated with the initial allocation of Solana's genesis block is suspected to have been stolen a few hours ago, with approximately 180,900 SOL (about $14.2 million) taken. The unusual fund flow was initially discovered by Specter Investigation, with the funds being transferred across chains from Solana to Ethereum after being unstaked. The addresses involved have been made public, and the cause of the incident is still under investigation.

Chairman: Future focus may shift to storage-as-a-service business, open to multiple rounds of ADR issuance.

The chairman stated that the expansion wave in the AI industry means "this is our golden period for development." Currently, we have sufficient funds to support SK Hynix. We are open to multiple rounds of issuing American Depositary Receipts (ADRs). The explosive growth of AI intelligent agents will generate massive memory demand. Clients have indicated that the planned expansion scale still cannot meet demand. I have a certain confidence in the growth of demand. Clients all wish to sign long-term supply agreements to secure stable sources. If long-term agreements are signed, the storage industry will no longer be cyclical. Another key focus is the layout of AI data centers. Before the development of general artificial intelligence, the demand for storage chips is unlikely to return to normal. In the future, we may focus on developing storage-as-a-service business. We must reduce the cost of AI tokens.

Launch of AI agent trading, betting on automation to enhance retail trading capabilities.

Plans to launch trading features centered around AI agents (agentic trading) in its application, allowing users to automatically monitor the market, discover opportunities, and execute trades through natural language commands. This feature utilizes AI during the account opening process to assess user risk preferences, sources of funds, and financial status, generating a portfolio for users to adjust and confirm, with subsequent information and rebalancing suggestions provided. It claims that AI agents will help non-professional users participate in the market in a manner close to high-frequency and professional traders, and is part of its strategy to extend into broader financial services such as payments, banking, lending, combined with stablecoin and asset tokenization strategies.

Internal cross-border remittance system launched on the Avalanche blockchain.

An internal cross-border remittance system has been launched on the Avalanche blockchain, making it the first large South Korean enterprise to publicly adopt stablecoin for cross-border financial settlements. In the first phase of the pilot, the U.S. subsidiary transferred $20,000 to the Mexican subsidiary, converting the funds to USDT before exchanging back to USD, averaging about 7 minutes, significantly shorter than the 3 to 4 hours required for traditional bank transfers. This project is led by the Hyundai Credit Card division, with plans to expand more cross-border channels and currencies, and to conduct a second phase pilot in Europe to test local currency settlements and foreign exchange costs.

Launch of perpetual contracts for U.S. stocks.

Futures will launch the USDⓈ margin SKHYUSDT perpetual contract at 23:50 (UTC+8) on July 10, with the underlying asset being Inc ADR.

The U.S. demands Iran to commit to stopping fire on ships in the Strait of Hormuz by Saturday.

The Trump administration has demanded that Iran publicly declare by Saturday at the latest that the Strait of Hormuz remains open and commit to stopping fire on commercial vessels. U.S. officials stated that this demand has been communicated to Iran through direct channels and regional mediators. The U.S. believes that Iran's recent attacks on commercial vessels in the Strait of Hormuz and surrounding areas violate a memorandum of understanding signed weeks ago, putting the fragile ceasefire agreement at risk of collapse. Reports indicate that Iranian Foreign Minister Amir-Abdollahian is expected to meet with Omani Foreign Minister Busaidi on Saturday in Muscat to discuss the situation in the Strait of Hormuz. The U.S. hopes Iran will issue a public statement after this meeting, committing to cease attacks and confirming that the strait is open and toll-free. U.S. officials stated that recent progress has been made in U.S.-Iran nuclear negotiations, but the Hormuz crisis raises concerns about Iran's ability to fulfill more complex agreements. If Iran refuses the demands, the U.S. warns of further actions.

Earlier, Iranian media denied reports of upcoming negotiations between the U.S. and Iran. The Iranian Foreign Ministry stated that it has never proposed negotiations with the U.S. and agreed to mediation visits to Iran.

CEO: Memory chip shortage may last until after 2030.

The company's CEO, Guo Lujing, stated that the memory chip shortage currently troubling the computer, automotive, and device markets may last until after 2030. Guo noted that clients are signing long-term contracts because they "believe the shortage will last longer." The company and its peers have become major beneficiaries of the AI boom. Massive spending by data center operators has driven demand for traditional memory as well as a new type of high-bandwidth memory. This rush has made it more difficult to meet the widespread demand for storage chips, leading to shortages in computers, smartphones, and automobiles. Guo's analysis indicates that this shortage may persist into the next decade. Client signals also suggest that there will not be enough storage chips available for the foreseeable future.

Chief Data Officer: Agentic commerce is the "next level of business."

In an interview, the Chief Data Officer stated that agentic commerce will be the company's "next level of business." Currently, over a million weekly active businesses are using its business agents. Using the example of organizing children's birthday parties, it illustrates how agents can handle scheduling, venue searches, and other tasks, and believes this model can be expanded to supply chains and cross-border commerce, with stablecoins being a key payment layer. He pointed out that the U.S. reliance on iMessage is "very outdated," while in Brazil and India, millions of small businesses are already conducting commercial conversations via WhatsApp. He predicts that physical wallets will be eliminated, and stablecoins are "an important part of the solution." The company's strategy is to become the interface layer, with payment settlements running beneath it, integrating regulated third-party stablecoins rather than issuing them independently. He also stated that decentralized identity verification is "very useful," but currently, no system has reached the required scale and reliability. He emphasized that the core challenge of the agentic economy is verifying whether agents represent the business entities they claim to.

Housing bill containing CBDC ban will automatically take effect at midnight local time on Saturday, Trump’s veto ineffective.

The bipartisan housing bill containing a CBDC ban will automatically take effect at midnight on July 11, despite the president's refusal to sign. Trump stated on Truth Social that he "will not sign the housing bill to protest the Senate's failure to pass the 'Protecting American Voter Act,'" but the U.S. Constitution stipulates that a bill approved by Congress automatically becomes law if the president does not sign it within 10 days, and Trump did not exercise his veto, so the bill took effect at midnight local time on Saturday. The CBDC ban will last until the end of 2030, prohibiting the Federal Reserve from issuing a digital dollar. This ban has previously been included in various bills by Republicans and was ultimately attached to housing legislation. Trump's refusal to sign has raised concerns that if Congress passes the 'Clarity Act' this summer, it may face a similar fate.

Plans to withdraw charges against the founder accused of involvement in a $722 million crypto scam.

Plans are underway to withdraw charges against founder Matthew Goettsche. Goettsche was accused of operating a cryptocurrency Ponzi scheme involving $722 million, with a trial originally scheduled for October. Goettsche's legal team notified the judge on July 8 that both parties had reached a "principled agreement" to resolve the pending charges. The case has been delayed for seven years since the 2019 indictment, with three co-defendants having pleaded guilty. Goettsche formed a lobbying team associated with the Trump administration, including Florida attorney Bradford Cohen, who appeared on 'The Apprentice,' and Brett Tolman, who helped clients obtain Trump pardons. A spokesperson stated that the decision is unrelated to pressure from lawyers, as the case has been pending for seven years, and the government is working to recover large investor funds. This case is the latest example of the Trump administration scaling back crypto enforcement actions.

Tokenized stocks open for trading through xStocks in Telegram wallet.

After completing a $26.5 billion U.S. listing, its tokenized stocks have opened for trading through xStocks in the Telegram wallet (built into Telegram's native crypto wallet), allowing users to buy and sell directly within the messaging application. Halil Mirakhmed, Chief Strategy Officer of Telegram Wallet, stated that tokenized stocks are redefining the way retail investors access global capital markets. ADRs are listed on NASDAQ under the SKHYV code, rising over 13% on Friday.

Selling 1,400 bitcoins to fund AI business transformation and repay debts.

A Nasdaq-listed company disclosed in an 8-K filing submitted on July 10 that it sold 1,400 Bitcoins at an average price of approximately $62,200 each since May 7, cashing out about $87.1 million to repay $10 million in debt and fund a $65 million AI data center project. This investment will secure a 25% stake in a project associated with Hunt Properties, which will transform industrial land into an AI data center park. The company transitioned from an electric vehicle manufacturer to a Bitcoin treasury company last July, raising over $500 million and accumulating more than 4,000 BTC, ranking among the top 25 Bitcoin holders among publicly traded companies. After the sale, it still holds 1,514 BTC (approximately $9.9 million) and about $74 million in cash. The stock rose 1% on Friday but is down about 18% year-to-date.

Plans to Invest $250 Billion in U.S. Chip Manufacturing

The U.S. President stated on social media that he is accelerating spending in the U.S., planning to invest $250 billion in domestic chip manufacturing. "We are bringing manufacturing back to America and ensuring the security of our supply chains. This means thousands of high-quality jobs for hardworking patriots across the country." He also shared comments from tech CEO Sanjay Mehrotra: "Last week, I told the President that thanks to his leadership and policies, we will announce today that not only are we ahead of schedule, but we will increase our manufacturing and R&D investment in the U.S. from $200 billion to $250 billion, creating 100,000 American jobs. This is another example of the 'Trump effect' driving historic private sector investment and job creation in American manufacturing."

Study: 31% of Ethereum Nodes in the U.S., One-Third Offline Could Disrupt Block Finality

A published study shows that approximately 31% of Ethereum nodes are active in the U.S., while the EU (excluding the UK) accounts for about 39%, indicating a Western-centric distribution. The study points out that nodes are concentrated among three hosting providers: Hetzner, AWS, and OVH. If more than one-third of validators go offline simultaneously, Ethereum will stop block finality. In 2022, jurisdiction over Ethereum was claimed based on the majority of nodes being in the U.S. The study also reveals that Ethereum's annual energy consumption is about 7.9 GWh (equivalent to the electricity used by about 2,000 households in the UK), a decrease of approximately 99.98% since before the merger, with a sustainable energy usage rate exceeding 56%. The head of the research center stated that while the geographical distribution is ideal for the network, the centralization of client software also poses risks, highlighting the legal implications of jurisdiction claims based on node distribution.

Government Transfers 4,036 ETH Worth Approximately $722,000

The government transferred 4,036 ETH, worth approximately $722,000, from its BTC-e confiscated wallet to a new address early in the morning.

Senate to Resume Negotiations on the Clarity Act Next Week, Time Window Only a Few Weeks Left

After the congressional recess, the Senate will return to work next week, aiming to pass the Clarity Act before the August recess and midterm elections. The House passed its version last year, and the Senate Banking and Agriculture Committees have also passed their respective versions. Legislative advisors are merging the texts, and sources say the new text could be released as early as next week. The time window is tight— the Senate has only the remaining days in July and the first week of August to advance the legislation. Major obstacles include: non-custodial developer safe harbor provisions (supported by the crypto industry, opposed by law enforcement and Catholic leaders), and ethical provisions (Democrats demand restrictions on the President and Congress profiting from digital assets). A 70-page new text has been added at the request of Democrats, focusing on consumer protection. Democratic Senators Wyden and Warren jointly stated that financial disclosures "intensify concerns about the President pushing crypto legislation to benefit his profit-seeking industry." The Chief Policy Officer of the Blockchain Association stated that months of bipartisan negotiations have laid the groundwork, and once final issues are resolved, Democratic support is expected. The bill will also compete for legislative time with priority legislation such as the Defense Authorization Act.

Tests Deposit of 4 BTC to Binance from Its BTC Reserve Address

The reserve address that purchases BTC with 15% of quarterly profits tested a deposit of 4 BTC (worth $250,000) five hours ago. This address had previously transferred 204.3 BTC (worth $1.436 million) a month ago when the BTC price was around $70,000. Previously, it would transfer the BTC purchased in the last quarter to the chain on the last day of each quarter, but more than ten days after the end of the second quarter, no new coins have been seen transferred to the reserve address.

Proposal to Enable Protocol Fees for v4 Pool

A proposal was made on July 7 to extend protocol fees to the v4 pool, which will continue the UNIfication fee scheme previously approved by the DAO under the new framework. Snapshot voting will take place from July 7 to 12, with on-chain voting expected to start in the week of July 13. The v4 hooks mechanism allows for unlimited fee tiers, and pool fees can vary by block, so the proposal introduces a new V4 Fee Controller system. The proposal aims to open fees for three types of pools: static fee pools (no hooks), CCA auction pools, and aggregator hooks pools, with a cap rate of 250 basis points for aggregator hooks (10 basis points for regular chains, 3 basis points for Base). The founder warned that "turning on the v4 fee switch could kill the protocol," stating that liquidity providers are already facing structural risks, and taxing without compensation could lead LPs to migrate to other AMMs. Forum participants support the proposal, believing that a deterministic on-chain fee strategy is more scalable than configuring each individually.

Successfully Destroyed 15,638,702 LIT Tokens

The team announced on the X platform that it has successfully destroyed 15,638,702 LIT tokens, which were accumulated through programmatic buybacks until the end of Q2 2026, and have now been permanently removed from circulation. The market shows that the current price of LIT is $2.7, with a 24-hour increase of 13.9%.

Resolution on Digital Euro Advances, Entering Key Negotiation Phase with Member States

The resolution on advancing the digital euro was passed with 416 votes in favor, 169 against, and 22 abstentions, entering a key negotiation phase with member states. This currency was first proposed in 2023, aiming to maintain European monetary sovereignty and provide citizens with digital cash. Negotiation representative Fernando Navarrete Rojas emphasized that the digital euro will "complement rather than replace cash" and provide free basic accounts and holding limits to protect the financial system. The European Central Bank has previously established cooperation with major European payment standard providers, positioning it as a tool to counter the growing influence of stablecoins and other private currencies, with a member of the ECB Executive Board stating that the digital euro will "reduce Europe’s dependence on external providers."

Diamond-Hand Whale Sells 2.5 Million Binance Life Tokens, Cashing Out a Total of $11.12 Million

A diamond-hand whale, who bought Binance Life tokens early and received about 5,000 times the return, sold another 2.5 million Binance Life tokens (worth $1.7 million) five hours ago, leaving only the last 2.5 million, expected to complete the full liquidation by early tomorrow. The 18.5 million tokens bought at $2,480 have seen 16 million sold, cashing out $11.12 million.

Bitcoin Miners Recently Increased Holdings by 454 BTC, Total Holdings Rise to 13,924 BTC

Bitcoin miners purchased 454 BTC at an average price of approximately $64,000 on July 7, worth about $29 million, bringing their total holdings to 13,924 BTC (approximately $880 million).

Facing Three Major Pressures, Market in a Fragile Bottoming Phase

A recent report states that Bitcoin is facing three major pressures: the Federal Reserve's hawkish stance, uncertainty in the Iranian situation, and stalled progress on the Clarity Act. The June FOMC meeting minutes show that the Federal Reserve maintained interest rates at 3.50%-3.75% but removed dovish language, with the risk of a rate hike still present in September. The core PCE inflation rate was 3.3% in April and is expected to be 3.4% in May. The fragility of the Iranian ceasefire agreement exacerbates geopolitical pressures, making Bitcoin more inclined towards macro asset trading. Bitcoin ETFs have seen record outflows of about $8 billion over eight consecutive weeks, but there have been inflows in the past three trading days, suggesting the market may be nearing a capitulation phase. Holdings account for about 4% of total supply, and the market reacted strongly when the first 32 BTC were sold, but it absorbed the sale of 3,588 BTC in early July smoothly, indicating that the marginal impact has significantly weakened. The Clarity Act lacks the momentum for a full chamber vote, and core disputes remain unresolved, with the probability of market passage dropping from 74% a month ago to about 48%. Overall, the market remains under pressure but has not collapsed, existing in a fragile bottoming phase.

Head of Security Systems to Depart

During a restructuring, the company's head of security systems, Johannes Heidecke, announced his departure to the team this week. The core goal of this restructuring is to merge the security department with the research department. An internal memo shows that the Chief Research Officer stated that the security team will be overseen by the company's Vice President of Research and Integration Affairs, with Glaese also serving as Vice President of Research and Security. The original head of the security team will take on the role of interim head of security systems and report to Glaese.

Malicious npm Package Download Count Zero, User Funds Unaffected

The X platform stated that its security monitoring system immediately detected and addressed the npm package security incident reported by some sources. The affected version was deprecated and replaced before it could be downloaded, with the actual download count of the malicious package being zero, and user funds were not affected. It stated that its npm SDK is one of the most widely used development toolkits in the crypto industry, and this incident also validates the effectiveness of the security response process. Since the mainnet launch nearly five years ago, there have been no successful exploits of any vulnerabilities on-chain. Previously, it was reported that hackers attempted to implant backdoors in npm packages to steal wallet keys.

AI Insights

Selected AI news worth paying attention to in the last 24 hours, helping you filter out AI noise.

Lawsuit Filed, Accusing Former Employee of Stealing Trade Secrets

A lawsuit was filed today, accusing a former employee of stealing trade secrets for personal gain.

Completed Mathematical Proof of Cycle Double Cover Conjecture

The model has generated a complete proof of the famous Cycle Double Cover conjecture in graph theory. This proof has been formally verified through Lean, marking a new milestone for AI in tackling long-standing mathematical challenges.

Shut Down Instagram Feature Allowing Users to Generate AI Deepfakes Using Public Accounts

After strong user opposition, the company shut down a feature launched earlier this week that allowed users to generate AI images using content from any public Instagram account simply by tagging, without the account owner's permission.

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