The Coldcard crypto theft incident continues to escalate, with losses still growing: the vulnerability attacks are ongoing, with a total of 4,585 addresses stolen for 1,367 BTC, for total losses of about $88.6 million. The vulnerability stems from a flawed random number generation in firmware from five years ago. Hackers used AI to crack private keys in bulk, and even ordinary offline cold wallets were not spared—completely breaking the market consensus that cold wallets are absolutely secure.

AI quickly uncovers fatal vulnerabilities and upends industry understanding: developers use large models such as Claude and Zhipu GLM to pinpoint Coldcard’s core vulnerability in just 8 minutes. Industry views suggest that Kimi’s open-sourcing in the recent period and this large-scale crypto theft are not a coincidence—AI has become a key tool for hackers to efficiently audit and find on-chain vulnerabilities.

Funds reverse direction as users panic and move funds back to exchanges: the capital flows are exactly opposite to the FTX fallout. Large numbers of users, in panic, transfer BTC from cold wallets back to centralized exchanges for hedging; small top-up volumes hit the highest level within the year, and a full-blown trust crisis in cold wallets has erupted.

A massive mnemonic phrase scam case is exposed, with losses of $282 million: some users were tricked by phishing scams via Trezor customer service, leaked mnemonic phrases led to massive BTC and LTC being stolen. The funds were split across chains, laundered using mixing services, and only a very small portion was frozen—this is a typical social engineering attack.

The CLARITY Act is basically unlikely to advance in the near term: the Senate is set to recess on August 8; the remaining window is extremely short. With ethical disagreements, high voting thresholds, and a lower agenda priority, the chance of passage this year is only 30%-38%, and the earliest path is a restart when the Senate reconvenes in September.

CFTC tightens regulation of derivatives: the CFTC solicits public comments on new rule proposals, focusing on rectifying conflicts of interest between derivative institutions and market makers, standardizing verticalized market structures, and further improving the US regulatory framework for crypto derivatives.

Strategy maintains high dividends and clarifies large-bill coin selling permissions: STRC preferred shares keep a 12% high dividend yield, and the current share price is below par value. The company has set a $5 billion BTC realization cap for cash reserves, share buybacks, and dividend payments, while also establishing multiple capital frameworks to stabilize finances. Saylor is set to update its holdings data.

Traditional-asset crypto trading volume surges explosively: trading volumes for stocks, indexes, and commodities’ traditional perpetual futures jump sharply. Top exchanges are accelerating their onboarding of Wall Street assets, building all-category trading platforms, and the boundaries between traditional finance and crypto markets continue to blur.

Bitcoin futures show a periodic bottoming signal: the BTC three-month futures basis has stayed consistently below the two-year US Treasury yield. The price-structure and the periodic bottom look highly similar to late 2022, with clear market bottoming characteristics.

Morgan Stanley leads a $15 billion AI compute project: it leads financing to build Anthropic’s Texas large-scale data center; Google provides credit guarantees and, in return, receives equity in the project. Major tech giants are deeply tying themselves to AI infrastructure investment.

Domestic AI enables precise tracing of Bitcoin money laundering: domestic public security AI algorithms detect the accuracy of illegal crypto transactions at nearly 90%; they can automatically trace fund flows and generate risk reports, greatly enhancing on-chain anti-money-laundering capabilities.

Morgan Stanley: AI enters a halftime reset; switch to two new main storylines. The AI rally is not weakening in fundamentals; instead, it’s a pullback caused by crowded trades. Going forward, opportunities will shift from upstream compute power to two directions: AI application deployment and energy/resource support.

Tensions between the US and Iran cool; talks begin tomorrow: Trump announces he is canceling planned military strikes against Iran. At the request of multiple Middle Eastern countries, a new round of negotiations will be initiated, aiming to finalize navigation through the Strait of Hormuz and an Iran nuclear nonproliferation agreement. Iranian officials deny reports of concessions; uncertainty remains in the situation.

US and Japan clearly agree to continue intervening in the yen: the US Treasury Secretary confirmed that the joint intervention in the FX market with Japan took place last Friday, and said plainly that the yen is severely undervalued. It is not ruled out that they will again team up to step in and stabilize the exchange rate.

US Treasuries collectively strengthen: risk-aversion sentiment cools and inflation expectations ease; US Treasuries rise across the curve, with yields on both short and long ends falling in tandem.

Disclaimer: The content described in this article is for reference only and does not constitute any investment advice. Investors should take a rational view of cryptocurrency investment based on their own risk tolerance and investment objectives, and should not blindly follow the crowd.