A vulnerability in Bifrost’s liquidity mining incentives was exploited by hackers, causing total losses of approximately $720,000.

Iranian Foreign Minister Araghchi stated that Iran is in the final stage of consultations with Oman on adjusting shipping lanes in the Strait of Hormuz. He also stressed that even if the two sides reach an agreement on the lane adjustment, this does not mean the Strait of Hormuz is reopened, as a series of conditions still need to be fulfilled for the strait to be reopened. Araghchi added that the two sides are currently discussing replacing the original shipping lanes with new ones, and relevant experts are conducting technical work. (CCTV News)

Serenity stated in a post that it remains bullish on the storage sector represented by Micron (MU) and Samsung, noting that markets tend to rotate between different supply bottlenecks. This week, photonics sector stocks including AXTI and LITE have once again come into focus. Compared to the period of the July sell-off, the primary change has been in stock prices, followed by scattered narratives and business updates. He pointed out that during the July sell-off, the market was already aware that laser products from COHR and LITE are fully sold out for the next two years, and had learned of demand imbalances from AAOI’s last quarter earnings call. Apart from post-correction stock price movements, the fundamentals of the photonics sector have not deteriorated; bottlenecks in optical transceivers and indium phosphide substrates remain unchanged, and may even intensify further. On the storage front, Serenity noted that retail investors are showing capitulation sentiment, while the same group had been extremely bullish after MU signed 16 SCAs and issued strong forecasts. He believes that the current ratio of operating profit to market capitalization for storage businesses is "extremely unreasonable", and demand imbalances may worsen next year. For the same companies, only valuations and narratives have changed, while the market rotates between different sectors.

Decentralized exchange Paragon, under HIP-3, has acquired the code of Cambricon (CAMBRICON) for 580.97 HYPE, and may launch Cambricon perpetual swap contracts in the coming days. Cambricon is a Chinese AI chip design company primarily engaged in the R&D, design and sales of core AI chips. Its products cover cloud intelligent chips and accelerators, edge computing chips, IP licensing and basic system software, targeting AI training and inference scenarios, and providing computing power support for servers and industries including internet, finance, transportation, energy and manufacturing.

Today, sharp price swings in the TUT token led to $36 million in liquidations within an hour, sparking widespread market debate. The token has posted $570 million in spot trading volume and $2.5 billion in futures trading volume across the network in the past 24 hours. According to monitoring by Yu Jin, on-chain activity for TUT is mostly limited to transfers between major centralized exchanges (CEXs) by market makers or token controllers. The recent trend has seen TUT flowing from Binance to Bitget: over the past day and a half, 160 million TUT tokens, accounting for 20% of the total supply, have entered Bitget.

Moore Threads announced that its board of directors has reviewed and approved proposals related to the issuance of H shares and listing on the main board of the Hong Kong Stock Exchange (HKEX). The Chinese domestic semiconductor firm plans to issue overseas listed foreign shares (H shares) and apply for listing on the HKEX main board, and will select an appropriate timing and issuance window to complete the offering and listing within the validity period of the shareholders' meeting resolution or other periods extended with shareholder consent. The offering still requires review by the shareholders' meeting, as well as filing, approval and/or authorization from relevant government and regulatory authorities. Specific details have not been finalized yet, and there is significant uncertainty over whether the offering can be implemented. Moore Threads focuses on the independent R&D and design of full-function GPUs (General-Purpose Graphics Processing Units).

Per an official announcement, Binance Alpha will roll out an airdrop for DAppOS (DOS) on August 10. Eligible users can claim the airdrop via the Binance Alpha event page using their Alpha points once trading opens.