PhyrexNi

Major Event! Must-Read for Project Teams!!

Today, the SEC's cryptocurrency ETP (spot ETF) "listing standards" have been released through new exchange filing documents. Summary:

Any futures-tracking coin that has been listed on the Coinbase derivatives exchange for more than 6 months will be approved.

This rule also promotes the possibility of staking through proposed rule 14.11 (e)(4)(G), which requires that if the assets available for immediate redemption are less than 85%, a liquidity risk management plan must be implemented.

This regulation requires public comments and review. The comment period is likely to end 21 days after publication in the Federal Register.

For newer altcoins without futures or Meme coins (such as Bonk and Trump coins), ETF approval will require compliance with the 40 Act. History shows that the 33 Act is more popular because it is purely spot.

EU's von der Leyen: The trade agreement with the United States will bring stability, agreeing to implement a unified 15% tariff.

Trump: We have reached an agreement with the EU, the EU will agree to purchase $750 billion worth of American energy, reaching the largest agreement ever, the EU agrees to open national trade with 0% tariffs, the EU will purchase hundreds of billions of dollars in military equipment.

Trump reiterated that the chances of reaching a trade agreement with the EU are fifty-fifty, and there are 3 to 4 difficulties in the EU trade negotiations, with the tariff rate on the EU not to be lower than 15%. All trade agreements will begin on August 1.

EU's von der Leyen: Reaching an agreement with Trump, believes the possibility of reaching an agreement is fifty-fifty.

China and the United States will extend the tariff suspension period by another 90 days during talks in Sweden.

This should be a good sign, avoiding a direct confrontation between China and the United States. The market now has 90 more days of imaginative space; if I had seen this news earlier, I might have held off on closing my positions.

The results of doing something with a utilitarian mindset and doing it with a sense of public good are completely different. The more one pursues quick profits, the more likely they are to be bitten by the market. Sometimes, simplicity is better. Focus on doing one thing and do it to the fullest, have more ideals and less scheming, and you'll find it easier to succeed.

China indicates that BRICS countries will soon take measures to reduce dependence on the US dollar.

Trump: If we reach an agreement, the EU deal will be the biggest ever, let's see on Sunday if we can reach an agreement with the EU.

When Trump invests a trillion in AI, who is providing trustworthy data for AI?

When Trump invests a trillion dollars in AI, it may seem like a competition between models, chips, and data centers, but it also raises deeper questions about how the data that AI models rely on is validated, whether it is traceable, whether the training process is a black box, and whether the inference process can be audited. Can models collaborate, or must they fight their own battles?

In simpler terms, when we obtain information from AI, who can ensure that the information provided by AI is correct? Data pollution is no longer just a joking term; a certain AI application that once claimed to be a ChatGPT killer has been deeply mired in a data pollution environment. When the data sources are all incorrect, how can the answers provided be right?

Is today's AI intelligent? Maybe it is, but even the smartest AI needs model training. However, we cannot know which data was used for model training, we cannot verify whether the GPU actually completed an inference process, and we cannot establish a trust logic among multiple models.

To truly advance AI to the next generation, we may need to solve these three problems simultaneously:

1. Training data must be trustworthy and verifiable.

2. The inference process must be auditable by third-party models.

3. Models must be able to coordinate computing power, exchange tasks, and share results without needing a platform to mediate.

This cannot be solved by a single model, a single API, or a single GPU platform; it requires a truly constructed system for AI. This system should not only store data permanently and at low cost, giving the data itself the rights to be reviewed and to review, but also allow models to validate inference against each other. It must also support models in autonomously discovering computing power, coordinating tasks, and auditing every step of execution under specific conditions.

This is difficult to achieve on centralized platforms, so is it possible to implement it on decentralized platforms? And why should we use a decentralized approach?

I believe only blockchain can truly integrate "data storage, data execution, and data verification" into the same underlying network. This is also one of the greatest attractions of blockchain: immutability and transparency. However, the problem is that not every chain is suitable for serving as the underlying layer for AI.

If purely for storage, IPFS protocol already exists, but mere storage is not enough. We also need the ability for smart contracts to directly invoke data, audit inference results, and even coordinate GPU resources to complete computational tasks. These features, not to mention IPFS, are currently beyond the capabilities of most L1 or AI applications.

If there is any real connection, it might be that @irys_xyz has some opportunities. Irys is not a traditional storage chain but is prepared to be built into a data execution network for AI, treating data as programmable assets. Models can read data on-chain, validate inferences, invoke computing power, and implement pricing, authorization, profit-sharing, and verification through smart contracts.

Of course, Irys still has some immature aspects at the moment, but this developmental direction seems correct. And whether it is centralized AI or decentralized AI, if the data sources are not trustworthy, then all computing power is like building a tower on sand. No matter how strong the model is, it is just a moon in the water and a flower in the mirror.

CNN report: Powell has told several colleagues and allies that he will never yield to President Donald Trump's demands for him to resign, pledging to stand firm for months against the unprecedented multi-faceted attacks from the president due to his refusal to cut interest rates.

BlackRock's Head of Digital Assets Joseph Chalom has left today to join the second largest #Ethereum treasury company Sharplink Gaming as Co-CEO.

Chalom had worked at BlackRock for nearly 20 years, driving key projects such as the $ETH spot ETF, $BTC spot ETF, and blockchain tokenization funds, and was responsible for collaborations with institutions like Coinbase, Circle, and BNY Mellon.

Trump: I am considering issuing rebate checks to low-income Americans. I will use tariff revenue to rebate to Americans.

Trump: Most agreements will be completed before August 1st, and if not, then all will be completed. Most trade agreements are now completed. I haven't had much luck with Canada. I may impose tariffs unilaterally on Canada. There isn't much room for negotiation, and I don't intend to focus on reaching an agreement with Canada.

Trump: We have a framework for our agreement with China. What China is doing is striving for a weaker currency. We are close to reaching a trade agreement with China. I have had many different disputes with Chinese President Xi Jinping. China and Japan dominate due to weak currencies.

Trump: Powell is a very good man. Felt from Powell yesterday that he might be ready to lower interest rates. Had a good conversation with Powell about interest rates.

It is said that the Bank of Japan expects to have enough data by the end of the year to assess the possibility of raising interest rates, and does not rule out the possibility that the Bank of Japan may raise interest rates this year.

South Korean Presidential Office: The Minister of Industry proposed a mutually beneficial plan to the U.S. Secretary of Commerce, and the U.S. expressed interest. There has been no news regarding the extension of the August 1 negotiation deadline. South Korea's foreign exchange issues have exceeded the normal scope of discussions and have been included in the negotiation content.

The previous two ancient whales made a lot of noise but had little impact; this time, the ancient whale has both significant noise and impact.

Waking up at noon to see a drop, I first went to find Trump and found nothing wrong. The second thing I did was look for @ai_9684xtpa and @EmberCN (ladies first) and discovered the issue of the ancient whale appearing again, so the usual three-piece set would suffice.

First: Look at the data of transfers to exchanges. Indeed, in the last 12 hours, over 25,000 $BTC has transferred to exchanges. I'm not sure if it's an ancient whale, but even if it isn't, it's causing panic among investors because the main exchange receiving them is not #Coinbase, but rather #Binance the most, followed by #OKX with some. Considering this is during the Asian time zone, I'm still hesitant to conclude, but the transfer volume has indeed increased, and anticipated sell-offs are also on the rise.

Second: Look at the exchange inventory. This data is even more important, as it shows whether the actual transferred inventory is being absorbed, especially if it's bought by long-term holders, who usually cash out. However, currently, the exchange inventory is still at a relatively high level, and not much has been absorbed.

Third: Will it affect the fundamentals? I don't think so. The current fundamentals are still about U.S. tariffs and monetary policy, which haven’t shown any issues, and the pre-market for U.S. stocks seems stable without any major problems. Bitcoin and U.S. stocks remain highly correlated.

So, I personally believe that the overall impact on the market is limited. Of course, this also depends on whether there will be a panic sell-off following this. I've already opened my long positions. If I'm right, I’ll boast; if I'm wrong, I’ll stand up for a beating.

This article is sponsored by #Bitget ｜ @Bitget_zh

What happened when I woke up? Is it the ancient giant whale selling again?

Trump: There are alternatives to Powell, there could be three, and there has been no pressure on Powell. Dismissing Powell would be a significant move, and I don't think it's necessary. I believe Powell will do the right thing.

Here comes the question, who could the three people be? Just mentioned this yesterday.