Ethereum Falls Below $3,000, 24-hour Decrease of 2.3%

Today, U.S. stocks rallied broadly on positive CPI data. According to market data from BIT (bit.com), multiple stocks shorted by "Big Short" investor Michael Burry posted notable gains: NBIS rose 20.96% to $233.62, Micron gained 6.26%, NVIDIA climbed 2.93%, and SOXX advanced 2.89%. Per Michael Burry’s August 6 trading update on Substack, he established a large direct short position in NBIS at roughly $211.77 per share. He chose to short the stock directly instead of purchasing put options, as put options at the time carried an implied volatility exceeding 100% and were overpriced.

According to a Bloomberg report, Donald Trump is being sued over plans to sell the quick access rights to his Truth Social posts.

According to Yu Jing Monitoring, the largest short position for Changxin Technology on trade.xyz has been held for half a month. The short position is currently valued at $22.86 million. The whale has paid $3.4 million in funding fees for the trade, plus an unrealized loss of $4 million on the short position, bringing total losses to as high as $7.4 million.

According to a Yonhap News Agency report on the 12th, South Korea’s Second Special Prosecution Team indicted former President Yoon Suk Yeol and former National Security Office Director Shin Won-sik on charges of spreading "information justifying martial law". Yoon Suk Yeol has now been involved in a total of 9 criminal cases. The special prosecution team stated that Yoon Suk Yeol is suspected of immediately instructing the National Security Office and the Ministry of Foreign Affairs to convey to the United States, the United Kingdom, Japan, the European Union and other parties that "martial law is justified" after declaring the December 3 martial law. He is also suspected of the crime of abuse of power to obstruct the exercise of rights, namely abusing his position to order public officials to perform non-obligatory work.

Yesterday, Cole Villemain, the co-founder ousted via a January 2022 vote by the "Fat Penguins" community, launched the Spritehood NFT collection on the Robinhood Chain. The collection, with a total supply of 44,444 units, sold out entirely in under an hour, generating $1.28 million in revenue for Cole, per statistics. The event sparked widespread discussion in the NFT space. Crypto artist Beeple posted a meme today claiming "Robinhood Chain saved NFTs," a tweet that drew a positive response from Robinhood co-founder Vlad Tenev: "Someone’s gotta do it." As a result, hype around NFTs on the Robinhood Chain has resurfaced. Tonight, the once-popular NFT collection The Saudis announced plans to launch new NFTs on the Robinhood Chain, a move that earned community approval. The collection’s floor price surged quickly from 0.028 ETH to 0.15 ETH, but due to its long period of inactivity, the NFT’s trading volume remains low, making the floor price spike unsustainable. Adding Stonkbroker—a project with Bored Ape Yacht Club (BAYC) community ties, whose core team and NFT holders overlap heavily with BAYC members—several star projects from the Ethereum mainnet ecosystem have successfully relaunched on the Robinhood Chain. However, the sustainability of this latest NFT boom may hinge on builders’ ongoing innovation and sincerity.

Trump stated that the United States fully controls the Strait of Hormuz and will continue to maintain that control. The maritime blockade, dubbed the "Iron Wall", has left Iran with no recourse.