24/7 Blockchain industry dynamics and breaking crypto news
A recent Islamic ruling in Pakistan declared cryptocurrencies like USDT invalid for transactions. Regulators now require separate technical and Sharia assessments for stablecoins and tokenized assets, complicating the new Virtual Assets Act and national digital currency plans, sparking a major regulatory debate.
Read MoreOpenAI has temporarily removed Codex's 5-hour usage limit, while Claude extended Fable 5's free trial by 7 days to July 19th. Due to ongoing compute constraints, the paid transition has been delayed multiple times, prompting some users to consider alternative AI models.
Read MoreFollowing Zhipu AI's major share placement, J.P. Morgan raised its target price for the second time in a week to HK$2,400. Analysts believe the new funds will ease computing bottlenecks and fuel model development, potentially boosting recurring revenue within a year. In contrast, J.P. Morgan lowered its target for peer MiniMax.
Read MoreThe ETH/BTC exchange rate has rebounded from 0.02524 to 0.02855. On-chain data reveals a whale swapped 13,708 ETH for 393.4 BTC, a $25 million short position, at this rate. Utilizing a coin-denominated strategy, the whale aims to buy back more ETH after a dip. Over six months, this approach has netted an additional 6,475 ETH.
Read MoreOn July 13th, the South Korean stock market faced significant selling pressure. The benchmark KOSPI index closed down 4%, falling below the key 7200-point level. The decline was led by the semiconductor sector, with SK Hynix plunging 8.3% and Samsung Electronics dropping 4.2%, reflecting investor concerns about the global chip industry outlook.
Read MoreDefiLlama data reveals Uniswap generated approximately $5.027 million in fees over the past 24 hours, ranking third in daily protocol revenue behind only Tether and Circle, and surpassing other notable DeFi and meme platforms.
Read MoreBrent crude futures surged 4% on July 13, surpassing $79 per barrel. This significant move highlights shifting market dynamics driven by supply, demand, and geopolitical factors, offering critical insights for traders.
Read MoreThailand's central bank and SEC have tightened financial regulations. Cash deposits over 5 million THB now require source verification, while stablecoin transactions and precious metals trading face enhanced monitoring to combat money laundering and shadow economy activities.
Read MoreA long-dormant Bitcoin whale moved 2,931 BTC ($188M) to a new wallet after 7 years of inactivity. The assets were originally acquired when BTC traded around $6,513, sparking speculation about early holder behavior.
Read MoreThis week is a macro data bonanza. The US CPI report and Fed Chair testimony are key for rate expectations. China's Q2 GDP and activity data will gauge recovery momentum. Earnings season kicks off with major banks, while the BoC and BoE also decide on rates, setting up for potential market volatility.
Read MoreOvernight saw Meta hit with a massive lawsuit and Coinback a new crypto bill. In crypto, stablecoins faced a major pullback while Fidelity signaled Bitcoin may be nearing a historic accumulation zone. Attention turns to upcoming major token unlocks for STRK and ARB next week.
Read MoreBitmine Chairman Tom Lee highlights that Robinhood Chain's rapid growth, particularly its design using ETH as native gas and settling on Ethereum L1, significantly reinforces ETH's monetary attributes and central role in the on-chain economy.
Read MoreA deepening legal dispute with Apple threatens to overshadow OpenAI's upcoming hardware launch and complicate its confidential IPO plans, introducing significant uncertainty for the AI company's near-term future.
Read MoreSamsung Electronics has moved up mass production at its first Yongin semiconductor fab to October 2029, two years earlier than planned. This acceleration responds to global chip shortages and intensifying competition in the AI era, highlighting the urgent industry need for expanded capacity.
Read MoreNVIDIA has paused plans to adopt TSMC's COUPE photonic packaging technology due to slower-than-expected progress on key silicon nitride processes and grating coupler development. The company is now shifting its strategy towards Tower Semiconductor's silicon photonics platform, marking a significant adjustment in its high-performance computing roadmap.
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