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On July 29, Tibo, the product lead for OpenAI Codex, announced on X that all usage limits for ChatGPT Work and Codex users have been reset, and released a statement regarding the issue of rapid consumption of GPT-5.6 Sol usage.In the previous weeks, a large number of users reported that the consumption speed of Codex limits exceeded expectations. OpenAI emphasized that it has not reduced the usage quotas of any subscription plans. After investigation, several reasons were found: Sol is more inclined to work for longer periods, execute more tool calls, and coordinate complex workflows than previous models; it consumes more tokens at the same reasoning level; programmatic tool calls (code mode) allow Sol to execute tool calls in parallel, resulting in more responses and higher usage per round; the distribution of impact is extremely uneven, with median user efficiency being acceptable, but heavy users handling complex tasks consuming far more than expected.OpenAI stated that multiple improvements have been completed, and it is expected that usage endurance will be extended by about 18% in typical usage scenarios. Tomorrow, the five-hour limit that was paused during the investigation will be restored. OpenAI acknowledged that "capabilities and efficiency do not always improve synchronously, and some issues only become apparent after large-scale real-world use; we should have realized this earlier."

Trader Ansem stated that he has bought PUMP around the old support level of 0.001675, with the main logic being that pump.fun can still achieve monthly revenues of about 30 to 40 million dollars during the bear market.He believes that if Solana dominates retail on-chain trading activities again in this cycle, pump.fun is likely to become one of the beneficiaries.

Researcher Adam from Greeks.live stated that the trading of large Bitcoin call options has significantly increased, with a total of 25,766 BTC call options traded, with a nominal value of approximately $1.65 billion. Among them, nearly 10,000 sets of the 70,000/72,000 USD call bull spread expiring at the end of this month have been traded, making it the most active contract.Adam noted that with about two weeks left until expiration at the end of this month, the large-scale purchases of out-of-the-money call options that are about 10% higher than the current price reflect the market's optimistic expectations for the market trend in late this month; however, the trading strategy of using the lower-cost bull spread also indicates that the funds are primarily taking a tentative approach rather than making aggressive bets.

Larry Fink, CEO of the world's largest asset management company BlackRock, stated that he is optimistic about the market in the next 12 months, as the technological revolution will drive improvements in the profit margins of more companies. He noted that BlackRock's profit margin has increased by 260 basis points over the past 12 months, and the company has added $1 trillion in assets without increasing its workforce.Larry Fink mentioned that the current market leverage levels are lower than those in 2008 and 2009, and the implied leverage is not high when measured against the current capital market size. He also indicated that certain assets, financial products, or international markets may still carry concentration risks. Larry Fink expressed that he had previously been concerned about leverage in the Bitcoin and cryptocurrency markets, as there had been too many leveraged participants in the market. He believes that after the leverage has been cleared, Bitcoin and the cryptocurrency market are more stable at current levels.

According to Jinshi reports, Federal Reserve's Goolsbee stated that he would feel better if the Consumer Price Index (CPI) data remains sluggish in the coming months.

South Korean fintech company Toss announced a partnership with Optimism and Sunnyside Labs to jointly explore a stablecoin pegged to the Korean won.In the coming months, the three parties will conduct a proof of concept (PoC) test to assess the feasibility of building compliant blockchain digital financial infrastructure based on the OP Stack, providing technical validation for applications related to the Korean won stablecoin.

According to Jinshi, the U.S. Commodity Futures Trading Commission (CFTC) stated that traders' overall positioning sentiment towards the dollar has risen to the most optimistic level since 2015.

According to a report by Sing Tao Daily, the Hong Kong Securities and Futures Professionals Association stated that after a meeting with representatives from the regulatory authorities, including Deputy Secretary for Financial Services and the Treasury Chen Haolian and Executive Director of the Securities and Futures Commission's Intermediaries Division Ye Zhiheng, the Securities and Futures Commission has committed to advancing measures such as the separation of the "Virtual Asset Platform Practitioners Examination" (CVAP) exam and curriculum, optimizing review materials, and reducing assessment fees.The association will follow up on the relevant timeline and continue to communicate with the Financial Services and the Treasury Bureau and the Securities and Futures Commission on practical issues such as self-custody operation guidelines for private equity funds, the boundaries of technology services and regulated activities, and the VA Payment regulatory framework.

Bitget officially upgrades its institutional fee rate framework, covering the Bitget PRO equity system and liquidity incentive program, further optimizing trading costs, liquidity incentives, and market structure for institutional clients in multi-asset markets, providing better trading support for professional traders, market makers, and liquidity providers.This upgrade incorporates categories such as crypto assets, stocks, precious metals, commodities, and indices into a more refined fee and liquidity incentive framework, optimizing pricing structures and market-making support based on different market characteristics, and enhancing execution quality across various asset classes through differentiated incentives to meet the trading needs of institutional users in a multi-asset environment.

CITIC Construction Investment Research Report points out that the following factors will determine the trend of the third quarter market: In terms of fundamentals, AI computing power remains at a high level of prosperity, with mid-year performance and overseas financial reports worth paying attention to. At the same time, since April, under pressure from the macro economy, the economic measures from the Politburo meeting in July are quite important; In terms of liquidity, external disturbances have increased, while internal conditions remain neutral; In terms of risk appetite, geopolitical events and the listing of industry giants will cause short-term fluctuations in the market. Considering the global tech stock correlation effect, major overseas computing powers such as Japan, South Korea, and the United States also need to be continuously monitored.In terms of industry allocation, although the logic of AI computing power remains unchanged, volatility has intensified. It is recommended to be cautious about chasing highs and to position during pullbacks; lithium batteries are expected to welcome a peak season, and energy storage demand continues to warm up, while new energy presents opportunities for phased valuation recovery; dividends are expected to rebound from oversold conditions, with relatively high cost-performance ratios. Key areas to focus on: banks, coal, public utilities, AI, optical modules, storage, chips, industrial metals, lithium battery materials (VC), etc.

According to CoinDesk, Ripple CEO Brad Garlinghouse stated in an interview with CNBC that he remains optimistic about Bitcoin but believes that Strategy's model of financing Bitcoin purchases through preferred stock has harmed the crypto market.Garlinghouse said, "Financial engineering will not drive long-term value." He believes that the long-term value of any digital asset comes from its utility and stated, "Michael Saylor's team is not focused on the right things, which harms the overall market."The focus of Garlinghouse's criticism is the financing mechanism used by Strategy to accumulate Bitcoin. For about the past year, Strategy has raised funds through the issuance of preferred stock to continue purchasing Bitcoin. Its STRC stock has an annual dividend yield of 11.5%, designed to trade close to $100.Garlinghouse pointed out that STRC is currently about 25% below that level, which is a "harsh denial" of the strategy. STRC hit an all-time low on Thursday, at one point trading about 26% below par value. Meanwhile, Strategy's common stock fell to its lowest level since February 2024, closing around $82 on Friday; Bitcoin dropped below $59,000.This week, Strategy's financing model is facing more pressure. CryptoQuant stated that Strategy should pause Bitcoin purchases and rebuild cash reserves. The coverage period for STRC dividend payments has shrunk from over 7 years to about 14 months. When STRC falls below $100, the mechanism of issuing stock and purchasing Bitcoin will stall, which is also the reason for the company to pause this mechanism.Benchmark-StoneX analyst Mark Palmer believes that Strategy's financing engine has simply become "less efficient," rather than having failed, and opposes comparing STRC to assets that have completely collapsed.

According to Jinshi, European Central Bank Executive Board Member Schnabel stated that the scale and timing of further actions will depend on the Middle East conflict, inflation, and economic conditions.

According to Jinshi reports, "Federal Reserve mouthpiece" Nick Timiraos stated that some forecasters converting U.S. PPI and CPI data into May PCE expect that the U.S. core PCE will record a strong reading, with a significant gap compared to CPI. It is anticipated that when announced on Thursday, the year-on-year growth rate of core PCE will reach 3.4%.

According to Jinshi reports, JPMorgan has raised its year-end target for the S&P 500 index to 7,800 points, believing that the outlook is approaching a "clear sky" scenario.

Curve Finance announced that its lending product LlamaLend V2 has officially launched on the Ethereum Layer 2 network Optimism. Users can engage in borrowing, lending, or circular leverage operations in the isolated market based on the Curve LLAMMA mechanism. It is reported that this upgrade will open a new market and distribute OP rewards to eligible users through Merkl.

According to The Block, Benchmark Equity Research maintains a buy rating on Coinbase, with a target price of $270, representing an upside of approximately 59.5% from the current stock price. Analyst Mark Palmer stated that Coinbase's recent system updates clearly demonstrate its rapid transformation from a cyclical crypto broker to an infrastructure platform connecting the on-chain economy with traditional finance.The report highlights Coinbase's product advancements in tokenized U.S. stocks, stock and crypto options, prediction markets, AI investment tools, and agentic payment infrastructure, as well as its prior approval from the CFTC to operate as a Futures Commission Merchant (FCM), allowing it to offer global crypto perpetual contracts and options trading to U.S. clients through Deribit. Benchmark believes these initiatives further confirm that Coinbase is continuously expanding its business boundaries beyond spot crypto trading.

Coinbase CEO Brian Armstrong posted on the X platform that he remains optimistic about Bitcoin as always and still holds a long-term bullish position. He stated that the situation is never as good or as bad as it seems.