World Gold Council CEO David Tait said Bitcoin will eventually go to zero because it remains correlated with high-risk assets. David Tait said gold has safe-haven characteristics and can move inversely.
The Bull Comes meme coin reached a market capitalization of nearly $30 million within three days of its August 14 launch. The token followed the viral spread of the low-budget animated film Bull Comes.
Santiment Intelligence said XRP sentiment reached a three-month bearish extreme as its price hovered around $1. Santiment Intelligence also found rising fear-related Bitcoin discussion across major crypto social channels this year.
Korean Margin Debt Reaches $21.8B as Stocks Rebound
Korean investors increased margin-financed domestic stock purchases, lifting outstanding margin debt to 30.93 trillion Korean won ($21.8 billion) as local stocks rebounded. The balance rose from 27.44 trillion Korean won on August 3. Samsung Electronics and SK Hynix recovered after volatility tied to concerns about AI investment profitability.
Listed Bitcoin miners’ actual hash rate excluding Bitdeer fell 21.2% over six months. Core Scientific generated $136.7 million in hosting revenue in Q2, representing 83% of quarterly revenue. Bitdeer increased its actual hash rate 44% to 63.0 EH/s.
SK Hynix Chairman Choi Tae-won said the most severe memory shortage could occur in 2027, while AI agent usage may grow 77-fold within five years. Choi said AI ecosystem demand already exceeds SK Hynix supply capacity.
Tether CEO Paolo Ardoino said Tether has not built a blockchain and has no plans to build one. Tether will remain chain-agnostic and use multiple blockchains as transport networks for USDT.
Gao Yi Asset Management held about $979 million in U.S. stocks at the end of Q2 and increased its Micron position by 283.48%. Gao Yi also increased its Sandisk position by about 192% while reducing Nvidia holdings by 72.41%.
Aschenbrenner Fund Shifted to Unhedged AI Chip Holdings Before July Losses
Situational Awareness LP reported about $20.2 billion in June 30 holdings, with SanDisk and Micron accounting for 55.5% of the portfolio. The fund liquidated more than $8 billion in chip and memory put options from Q1. Micron and SanDisk then fell about 35.9% and 55.3% during the July AI sector correction.
ElizaOS founder Shaw alleged that daos.fun founder baoskee made approximately $6.6 million by selling ai16z with insider information. Baoskee denied the allegation and said daos.fun added and locked over $1 million of ai16z liquidity.