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BlockBeats report: On July 28, Apple was sued in the U.S. Northern District of California federal district court for allegedly failing to effectively prevent cryptocurrency scam apps in the App Store. Three users accuse Apple’s security review mechanism of shortcomings, which led them to download fake crypto wallet apps, with total losses exceeding $1.8 million.
The lawsuit claims that the involved application impersonated the Bitcoin wallet “Sparrow Wallet,” but the official Sparrow Bitcoin Wallet has actually not launched on the iOS platform. After three users transferred Bitcoin into the fake app, they suffered asset losses: one user lost about $875,000, another lost about $840,000, and the third lost about $120,000.

BlockBeats news, July 28: citing sources familiar with the matter, the WSJ reported that Nvidia and OpenAI are in talks over a super AI data center project with a scale of around $500 billion. The project is located in the southern part of the U.S. state of Ohio, and is expected to have a maximum power capacity of up to 10GW, which could make it the world’s largest data center project.
Reports say that Nvidia may provide OpenAI with approximately $250 billion in funding to lease data center campuses developed by SBEnergy, an energy subsidiary of SoftBank. The project’s total cost is expected to exceed $500 billion, including up to $350 billion for the procurement of AI chips.

BlockBeats message: On July 28, U.S. Treasury Secretary Scott Bessent said that the “Trump Accounts” has become “the most successful launch project in U.S. government history,” and that about 7 million children have already completed registration.
At a meeting of the Financial Literacy and Education Commission, Bessent revealed that the number of registered participants has grown further from 6.5 million earlier this month. The U.S. Treasury Department said that the early registration speed of Trump Accounts has outpaced other digital platforms and financial products.
The Trump Accounts were officially launched on July 4 and are also known as the 530A account. They are open to all U.S. children under 18 who have a Social Security number.

BlockBeats report: On July 28, the Wall Street investment bank TD Cowen lowered its target price for Bitcoin treasury company Nakamoto Inc. (NASDAQ: NAKA). After accounting for the stock split, the target price was cut from $40 to $17, a decline of 58%, but the “Buy” rating was maintained.
TD Cowen, an analyst, said that this adjustment is mainly due to the pressure caused by Bitcoin’s price drop on Nakamoto’s highly leveraged capital structure. Although the new target price is still about 275% upside compared with the current share price of $4.65, the company’s stock is highly sensitive to fluctuations in Bitcoin’s price.

BlockBeats news: On July 28, digital asset trading platform Uphold announced it would cut about 17% of its global workforce, affecting 85 full-time employees and contract employees. The company said the adjustment is intended to shift resources toward its rapidly growing enterprise services business.
Uphold CEO Simon McLoughlin said that the company has undergone rapid expansion over the past few years, with its headcount nearly doubling. This round of layoffs is a recalibration of its business strategy. Although trading activity in the current crypto market has slowed, the company remains optimistic about the long-term development of digital assets and blockchain technology.
According to reports, Uphold was founded in 2015 and is headquartered in New York. It provides users with services for trading cryptocurrencies, fiat currencies, stocks, and precious metals. In recent years, the company has gradually expanded into enterprise-grade infrastructure, helping banks, fintech companies, and brokerages access crypto trading and custody services.

BlockBeats report: On July 28, the Dutch crypto-finance protocol Tori Finance announced that its institutional-grade delta-neutral yield product, strUSD, had completed a $50 million pre-funding allocation before its official launch, reaching the cap in just 7 days.
Tori indicates that strUSD offers an annualized yield of approximately 12% (APY). The returns come from a global spread-trading strategy that has long been used by traditional financial institutions, not from the circulation of funds in the crypto market. This strategy involves borrowing in low-interest-rate currencies, investing in high-interest-rate markets, and using foreign-exchange hedging to lock in U.S. dollar returns, thereby achieving returns that are lowly correlated with crypto market cycles.

BlockBeats report: On July 28, US President Trump said that the Iranian side has already submitted a request for a meeting through an intermediary, and that the US side is conducting “good negotiations” with Iran, adding that the two sides “have a very good chance of achieving some results.”
Trump said: “Iran wants to meet, and we will meet with them.” He also emphasized that he “has a lot of patience and plenty of time,” and said the United States has a large amount of ammunition, hoping to obtain more as well.
Regarding the situation in the Strait of Hormuz, Trump said the United States will use Iranian funds to pay for related losses in the Strait of Hormuz. In addition, he revealed that the US and Iran have some differences on the Iran issue, but are “very close to reaching an agreement.”

BlockBeats report: On July 28, Moonshot AI’s latest model, Kimi K3, was officially launched on Hugging Face and quickly rose to the top of the Trending Top 1 list.
Hugging Face CEO Clem Delangue stated that after the release of Kimi K3, it gained over 4,000 likes in just 30 minutes, setting one of the fastest growth rates for a post on the platform to date.
With the rollout of Kimi K3, the influence of China’s large language models in the global open-source community has been further expanded. As domestic models such as DeepSeek and Qwen continue to advance open-source ecosystems, China’s AI models are accelerating into the global developer competition framework.

BlockBeats message: On July 27, Ondo Finance announced the launch of a new Ondo Network, positioning it as a high-performance execution layer designed to combine the trade speed of centralized exchanges (CEXs) with the non-custodial, secure settlement capabilities of blockchains.
Ondo CEO Ian De Bode said that Ondo Network is an “evolved version” of the earlier Ondo Chain plan. The company will not run two separate networks at the same time; instead, it will adjust the original roadmap of building a complete blockchain to focus on an execution-layer architecture.
According to the announcement, Ondo initially planned to move real-world assets fully on-chain via Ondo Chain. However, after developing an Ondo Perps perpetual contract trading platform and communicating with users, the company found that the key bottleneck in the current market is not asset settlement, but trading execution efficiency.

BlockBeats message: On July 27, cryptocurrencies had long promised that blockchain technology would eliminate traditional financial intermediaries such as banks and brokers. But as the industry enters 2026, a new trend is emerging in the market: blockchain has not eliminated intermediaries; instead, it is reshaping them and giving rise to new digital financial intermediaries.
Analysis shows that stablecoins are shifting from crypto tools to financial infrastructure, and their core source of trust has moved from code and technology to issuer governance, reserve management, and regulatory compliance. As multiple countries promote stablecoin regulatory frameworks, issuers are becoming the new trust center.

BlockBeats report: On July 27, the U.S. Senate Republicans plan to advance the (CLARITY Act) into the formal review process this week. Senate Majority Leader John Thune hopes to push the bill forward before the August recess.
According to the agenda, the Republicans may first submit a motion to end debate. This procedure requires the support of 60 senators to move forward. However, there is still a gap between the bill and the 60-vote threshold, and Democratic support is key.
Previously, seven Democratic senators said the latest version of the CLARITY Act is still “not sufficiently well developed” in areas such as ethical provisions, unlawful financial regulation, and conflict-of-interest requirements. The Republicans are negotiating with the Democrats in an attempt to modify the relevant provisions to secure cross-party support.

BlockBeats report: On July 27, U.S. President Trump plans to visit a Detroit suburb in Michigan ahead of local time on the 27th to deliver a speech, focusing on promoting his economic policies and tariff measures. The trip comes as the U.S. midterm election cycle heats up, and Trump will defend his economic performance in key swing states.
Meanwhile, there are signs of easing in the tensions between the U.S. and Iran. After 13 consecutive nights of mutual strikes, the two countries paused military operations over the weekend, creating room for diplomatic talks. In light of the ceasefire news, international oil prices fell sharply, and worries in the market about the Middle East conflict further impacting the global economy were somewhat eased.

BlockBeats report: On July 27, on-chain analytics firm Glassnode’s latest report showed that Bitcoin has recently rebounded from around $64,000 to about $65,100, but overall it remains in range-bound consolidation. The market continues to trade in a consolidation pattern.
The report notes that after BTC previously touched a phase high of $66,700, it pulled back. Current spot prices remain within the statistical volatility range. Exchange liquidity has contracted; active sell pressure has eased somewhat, but market participation is still relatively low.
Derivatives market data shows that buyer initiative in perpetual contracts has declined, and speculative funds’ confidence has weakened. Although total open interest (OI) has increased slightly, long positions’ funding rates have clearly cooled, indicating that leverage use is becoming more cautious. At the same time, options open interest continues to grow; the volatility spread has widened, suggesting traders are positioning themselves for higher uncertainty in the future.

BlockBeats message: On July 27, citing information from The Information and sources familiar with the matter, a company supported by China’s state-owned capital has begun mass production of self-developed DUV (deep-ultraviolet) lithography equipment, marking a key step forward in the localization and substitution of China’s semiconductor industry.
Sources say the company plans to produce about 5 domestically made DUV lithography machines in 2026 and expand to about 20 units in 2027. Although there is still a gap compared with Dutch lithography giant ASML’s delivery of 131 immersion-type DUV lithography systems last year, domestic equipment has entered mass production, and the market views it as an important breakthrough for the self-reliance of China’s chip supply chain.

BlockBeats news: On July 27, Citi’s strategy team warned that as expectations for Federal Reserve rate hikes continue to heat up, small-cap stocks could become the “worst-hit area” in any market correction. With the new Fed chair, Kevin Wosch, adopting a more hawkish policy style, the market is shifting from relying on forward guidance to focusing on economic data.
The current market expectations for the Federal Reserve to raise rates this week have risen to more than 30%. Citi’s U.S. equity trading strategy head, Stuart Kaiser, said that even if rates are kept unchanged this week, the probability of a rate hike in September remains as high as 70%. Citi recommends that investors hedge risk by buying put options on the Russell 2000 Index ETF (IWM).