Dogecoin Labs officially launches, as the DOGE ecosystem seeks growth sources beyond meme-related demand.

Coinbase Institutional stated in a report that chip stocks have posted double-digit declines over the past two weeks, marking the second notable pullback since June, while Bitcoin has proven more resilient during both corrections. The firm noted the market no longer regards Bitcoin as a leveraged proxy for tech stocks. Per its charts, between June 22 and July 29, Bitcoin remained roughly flat, the Nasdaq 100 fell around 10%, the Semiconductor Index (SOX) dropped approximately 29%, and Micron, South Korea’s KOSPI index, and SK Hynix declined roughly 39%, 38%, and 52% respectively. Since October 2, Bitcoin has fallen about 3%, the Nasdaq 100 is down roughly 4%, the SOX has dropped ~14%, while Micron, KOSPI, and SK Hynix have declined approximately 16%, 21%, and 31% respectively.

Ukrainian President Volodymyr Zelensky stated in an interview that Ukraine can reach a peace agreement while retaining control of at least 75% of its territory. When asked by the host whether he would accept a peace deal freezing the current situation, with Ukraine holding 75% or more of its land, Zelensky responded affirmatively, saying, "We must freeze the front lines now; this is a practical way to end the war." (CCTV)

According to market data from BIT (bit.com), U.S. pre-market crypto-related stocks saw their gains expand, with CEA Industries (BNC) rising over 13%, American Bitcoin (ABTC) up 3.52%, MARA up 2.95%, Strategy (MSTR) up 2.69%, Robinhood (HOOD) up 2.54%, Bullish (BLSH) up 2.19%, and BitMine (BMNR) up 2.06%.

Standard Chartered Bank has signed a definitive agreement to acquire 100% of the equity in crypto custody provider Zodia Custody, with the transaction still pending regulatory approval. Per the arrangement, Standard Chartered will integrate Zodia’s custody business, while its software operations will be transferred to an independent entity under SC Ventures.

Beating AI News Flash: OpenAI and Google have struck an AI distribution deal. In the coming weeks, OpenAI will supply Google Cloud with cutting-edge AI models including GPT-6 Astra and Codex. Enterprise customers can purchase these via Google Cloud Marketplace, with related expenses eligible to count towards their existing cloud service consumption commitments. The move follows OpenAI’s expansion of distribution to AWS after its exclusive distribution arrangement with Microsoft concluded.

According to Bloomberg, Milan prosecutors said Italian authorities are carrying out arrest operations against 30 individuals suspected of running a mafia-linked underground banking network. The network is alleged to have transferred around €68 million overseas and laundered illegal funds using cryptocurrency. The operation extends to Spain, where local police are executing a European arrest warrant, while Swiss authorities are seeking to apprehend another suspect. Prosecutors stated the network was based at a car rental company near Milan, issuing fake service invoices via shell companies to help businesses in sectors like construction and logistics reduce their taxable income. After the companies made payments via bank transfers, the network deducted commissions and returned funds in cash. Funds in the shell company accounts were transferred to banks in Luxembourg, Lithuania and Germany, then moved through crypto exchanges to digital wallets allegedly controlled by the organization. Investigators identified over €110 million in fake invoices, and found the network also processed proceeds from drug trafficking and funds defrauded from victims of online crypto investment scams.