july

Dragonfly partner Haseeb Qureshi published a response to DFINITY founder Dominic Williams regarding the accusation of unauthorized use of threshold ECDSA signature technology by NEAR Intents. He shared screenshots of the relevant patent application, showing that the patent was not approved until the end of July this year and had been in "patent application" status prior to that. NEAR Intents modified the relevant algorithm in September this year. Haseeb Qureshi added that if what Dominic Williams claims is true, the so-called patent infringement may only involve about a month of time, and the relevant algorithm was originally published in an academic paper licensed under CC BY, which NEAR also cited in its implementation.

The cryptocurrency trading platform Bitfinex stated on X that even though the ETF is in a sell state, new BTC buyers have still accumulated about 570,000 BTC since the end of July.Bitfinex indicated that the average cost for these buyers is approximately $75,000, and this cost has been maintained during each pullback since August.

J.P. Morgan strategist Nikolaos Panigirtzoglou pointed out that the AI stock sell-off in October may be difficult to replicate the rapid rebound seen in July. Compared to before, the current market's willingness to buy on dips has weakened, short positions are insufficient to provide potential short-covering buying, corporate buyback funds are also decreasing, and at the same time, leveraged exposure in ETFs is being rebuilt, which may further amplify market volatility. J.P. Morgan believes that, based on investor positioning and capital flows, AI infrastructure stocks do not yet appear to be in an oversold state.This round of sell-off has spread from South Korean memory chip stocks to the U.S. semiconductor sector. SK Hynix and Samsung Electronics have both seen their stock prices drop by nearly one-third over the past month, and the Philadelphia Semiconductor Index has fallen 10% over the last five trading days. Additionally, the combined $40 billion stock buyback plan previously announced by the two companies was completed ahead of schedule in mid-October, which may have caused the market to lose some of the buying support brought by corporate buybacks.Meanwhile, BlackRock CEO Larry Fink warned that if the U.S. halts data center construction, the economy could fall into recession. He stated that a significant portion of U.S. economic growth is related to capital expenditures in AI infrastructure. As market concerns deepen regarding the return on AI investments and corporate profitability, price adjustments in the AI supply chain could also impact data center construction, energy infrastructure, and related employment sectors.

According to Gate market data, SpaceX (SPCX.O) stock price has reached a new high since early July, rising 5.1% recently.

The U.S. Bureau of Labor Statistics revised the non-farm payroll employment for July from +21,000 to -10,000, and for August from 162,000 to 133,000.After the revisions, the total number of new jobs for July and August is 60,000 lower than before the revisions.

Variant Fund investment partner Alana Levin stated in her market thoughts for Q4 2026 that the bottom of the crypto market likely occurred at some point in July. She wrote in early July that the bottom seemed close, with Bitcoin at $59,000, Ethereum at $1,600, and ZEC at $420. She mentioned that the question has shifted to whether the bull market is genuinely starting or if it's a false rally, and which projects will benefit the most in the early bull market, assuming the market is in the early stages of a new crypto bull market.Levin indicated that the increasingly formed consensus is that marginal funds are most likely to flow into value storage protocols as currency and protocols that can generate income. She believes Bitcoin is the dominant asset for digital value storage currently, while other competing assets may be valued based on their market capitalization relative to Bitcoin's market cap and its changes. For income-generating protocols, she expects investors to examine whether the income comes from crypto-native activities (like Pump) or traditional financial activities (like Hyperliquid), whether it persists during market downturns, and profit margins; projects with exposure to real-world assets and stablecoin growth, which are expected to attract institutional users and are still led by founders after surviving a bear market, are more likely to achieve higher multiples.She also categorized on-chain projects that can benchmark against non-crypto businesses as a third category, believing that most belong to narrative trading rather than long-term investment. Themes include routing, reasoning, computing power, data collection, and interface-related directions in artificial intelligence, and she is skeptical about whether most scenarios require blockchain; if such projects significantly outperform, she would view it as a signal of nearing the top.

Financial newsletter The Kobeissi Letter stated on X: The scale of U.S. stocks held by non-U.S. investors is at a historical high. The account wrote that in July, investors outside the U.S. held $24.32 trillion in U.S. stocks, marking the third largest scale in history.The Kobeissi Letter noted that since the beginning of this year, foreign investment in U.S. stocks has increased by $2.22 trillion, a growth rate of 10%. Since the bear market of 2022, this holding scale has increased by $12.3 trillion, a growth rate of 103%.The newsletter also stated that the allocation ratio of foreign capital to U.S. stocks has risen to 60% of their U.S. financial assets, setting a record, and is currently about 6 percentage points higher than the peak during the 2000 internet bubble.

According to Santiment data, address clusters holding 100 to 1000 BTC have cumulatively increased their holdings by approximately 113,950 BTC since mid-July, and the total BTC holdings of such wallets is currently about 5.24 million BTC.Analysis suggests that these medium-sized whales continue to accumulate, reflecting that some large holders are still increasing their BTC exposure amid recent market volatility. If this accumulation trend continues, it may further reduce the selling pressure of circulating tokens in the market and provide support for subsequent price rebounds. Meanwhile, this trend also indicates that market funds are not generally choosing to exit during price fluctuations, as some investors with larger positions are still accumulating BTC on dips.

According to a report by TASS, Bogdan Shablya, head of the financial monitoring and foreign exchange regulation department of the Central Bank of Russia, stated that the Central Bank of Russia expects that after the implementation of laws related to digital currencies, the issue of illegal cryptocurrency exchanges will be resolved, and the related "gray area" should disappear before July 1, 2027.After that, the market will be clearly divided into "white" and "black" parts, with corresponding penalties implemented.

Documents disclosed on Tuesday local time show that accounts under Trump completed 1,156 securities transactions in July, with a total scale ranging from 79 million to 270 million dollars, buying at least 43.6 million dollars and selling at least 35.6 million dollars, indicating a large-scale portfolio adjustment.On July 20, the account sold between 5 million to 25 million dollars of Microsoft and Amazon stocks, marking the largest single transaction of the month. On the same day, it sold between 1 million to 5 million dollars of Oracle stocks and bought between 500,010 to 1 million dollars of Nvidia stocks. Three days later, the account slightly replenished its positions in Microsoft and Amazon. Additionally, Trump also traded related assets of SpaceX and Tesla under Musk that month.

According to data from Statistics Canada, Canadian investors net sold $31 billion CAD worth of U.S. stocks in July, setting a record for the highest monthly amount, primarily focused on stocks of large U.S. technology companies. At the same time, Canadian resident investors net sold $5.1 billion CAD worth of U.S. government bonds, marking the sixth consecutive month of reduction, bringing the total amount sold this year to $37.3 billion CAD.

On-chain analytics firm Glassnode stated that publicly listed companies have only increased their holdings by 5,900 bitcoins in the past three months, while in July 2025, the monthly increase reached 89,000 bitcoins.The spot price is slightly below its average cost basis of $80,500, and corporate buyers are facing moderate unrealized losses, while the new demand provided is limited.

The Federal Reserve raised interest rates as expected in September, after keeping rates unchanged at the July meeting. Federal Reserve Chairman Waller stated that three things have changed between the two meetings.He said that data released in recent weeks indicates that the U.S. economy is performing strongly, especially in the labor market. At the same time, inflation rates remained high throughout the summer, significantly above the Federal Reserve's target of 2% year-on-year inflation.Finally, he noted that geopolitical factors also prompted the Federal Reserve to change its assessment of the economic outlook, although he did not directly mention the U.S.-Iran conflict in the Middle East. Waller stated, "These three factors contributed to our firm and consistent decision today."

Independent researcher Jonas Wiedermann-Moeller discovered that OpenAI's malicious AI agents hijacked two Hugging Face user accounts and probed the platform's network vulnerabilities as early as May 13, nearly two months before the publicly disclosed intrusion incident in July. An internal incident report released by OpenAI last month disclosed only a small part of this, specifically that an agent stole a user's login credentials to access a biology-related document, while the new findings point to ongoing reconnaissance activities.According to Reuters, these agents used the hijacked accounts to send malformed files to the servers of the open-source AI repository Hugging Face, and researchers believe this appears to be an attempt to map the network to find intrusion pathways. Researchers reviewing the evidence did not find that the activities in May caused an actual intrusion, but Wiedermann-Moeller believes missing this signal is significant. He stated that if this behavior had been detected in May, it might have prevented a later, larger-scale incident. Hugging Face, which is currently being acquired by NVIDIA for $12.93 billion, has not disclosed whether it was aware of this new information.Researchers from Nightingale Collective also linked a spam attack on the code repository RubyGems on May 11 to OpenAI agents, which temporarily forced the platform to suspend new account registrations for four days.

In the preview of the press conference with Waller, the market is focused on whether he can clearly explain the policy decisions and avoid the communication mishap from July. Analysts at French Foreign Trade Bank expect Waller to explain the interest rate hike as a necessary measure to control inflation.If the Federal Reserve raises interest rates as scheduled, the market will pay attention to Waller's views on inflationary pressures. Reuters points out that Waller needs to respond to Trump's demands for interest rate cuts in a sensitive political environment and emphasize the independence of the Federal Reserve.

On-chain analyst Ai Yi posted on X that a certain address has accumulated profits of approximately 1.157 million dollars through five ETH swing trades since July.This address purchased 1,650 ETH (approximately 3.97 million dollars) at 2,417 dollars on September 3 and sold all of it for profit at a price of 2,474 dollars about 9 hours ago, making a profit of approximately 108,000 dollars on that single trade. The scale of each swing trade is around 4 million dollars, and the overall strategy is relatively conservative, focusing on small profits.

According to data from the Central Bank of Brazil (BCB), cryptocurrency purchases in July amounted to $572 million, a decrease of nearly 80% compared to $2.6 billion in June, and a decline of nearly 60% from $1.4 billion in July 2025.Fernando Rocha, head of the statistics department at the Central Bank of Brazil, stated that the changes are part of the adaptation of cryptocurrency exchanges to the new regulatory environment for digital assets, with anti-money laundering controls and governance requirements being significant factors in the reduction of transaction volume. Since 2026, the total amount of cryptocurrency purchases in Brazil has reached $15.25 billion, more than doubling compared to $7.6 billion in the same period of 2025. BCB noted that most of the related transactions involve stablecoins.

According to on-chain analysts, a certain trader bought 1,650 ETH at $2,417, worth approximately $4 million.Since July, their 4 ETH trades have accumulated a profit of $1.05 million.

According to on-chain analyst Yu Jin's monitoring, at the end of July, a whale or institution that redeemed 2.886 million HYPE from staking has completed liquidation, transferring the last 969,000 HYPE ($79.18 million) to Coinbase Prime and FalconX 20 minutes ago.They accumulated and staked it at around $19.8 at the beginning of last year, and liquidated it at around $64.9 in the past month, making a profit of $132 million (+228%).