CoreWeave issues a new risk warning: Switching from NVIDIA chips to other chips will face difficulties.

Against the backdrop of accelerating U.S. federal spending expansion paired with declining revenues, America’s fiscal situation continues to deteriorate, with debt interest spending exceeding $1 trillion cumulatively so far this fiscal year. Data released by the U.S. Treasury Department on Wednesday shows the July budget deficit hit $432 billion, the highest level for the same period in history, driven primarily by sharp increases in federal Medicare spending and rising public debt interest costs. Over the first 10 months of fiscal 2026, the cumulative budget deficit has reached $1.8 trillion. Adjusted for calendar factors, the deficit is 5% larger than the same period in fiscal 2025, highlighting the government’s sustained rising borrowing needs. Meanwhile, following the Supreme Court’s ruling invalidating most of former President Trump’s additional tariff measures, ongoing tariff refunds have also weighed on fiscal revenues, further amplifying deficit pressures.

According to monitoring by Yu Jing, a whale that participated in Ethereum’s 2015 ICO at an average price of $0.311 transferred all 2,000 ETH (valued at approximately $3.77 million) to Coinbase. Over 11 years, the holding’s value surged from $622 to $3.77 million, generating an unrealized profit of 6,060 times.

Oracle has formulated a new round of layoff plans to reduce salary expenses, as the company is accumulating billions of dollars in debt to fund AI infrastructure. Oracle had cut 21,000 full-time jobs earlier this year. According to internal documents, layoff ratios in some teams could reach double digits. Sources familiar with the matter said the company has asked managers to submit lists of affected employees, with the goal of completing the salary cuts before the start of its second fiscal quarter on September 1. Oracle declined to comment.

According to on-chain analyst Ai Yi (@ai_9684xtpa), since June 25, a whale address has transferred a total of 2,300 BTC (valued at $142 million) to Wintermute’s deposit address. The latest deposit of 800 BTC was made six hours ago. The funds originated from Paxos, and the ownership of the address has not been confirmed.

According to Bitget market data, South Korea’s KOSPI index rose 3.38% at the opening of trading, with Samsung Electronics up 4% and SK Hynix up 5%.

According to US tech media outlet WIRED citing insiders, the Trump administration’s new artificial intelligence (AI) guidelines will be revised to expand oversight of AI models. The White House announced this month it has developed an AI framework requiring US labs developing cutting-edge AI models to undergo federal security testing prior to public release. The framework has not been made public, and there are no reported plans to release it. Currently, the framework only covers so-called closed-source models developed by firms including Anthropic and OpenAI. However, a White House official revealed that the framework is expected to also include open-source models in the coming months. In short, once open-source models reach the same "cutting-edge" capability level as Anthropic’s Mythos-class models and OpenAI’s GPT-5.6, they will be incorporated into the framework and subject to pre-release testing.