Odaily reported that Paolo Ardoino, CEO of Tether, stated that large tech companies in the current AI industry are expanding their user base by subsidizing computing power. However, this strategy relies on infrastructure expansion driven by high capital expenditures (CAPEX), with related assets typically depreciating rapidly within 3 to 5 years.

Paolo Ardoino pointed out that this model is creating multiple structural mismatches, including: mismatch between token prices and real value, misalignment between profitability cycles and capital investment cycles, mismatch between capital costs and debt maturities, and the ongoing trend of open-source AI continuously eroding revenue space.

Paolo Ardoino believes that under these combined structural pressures, industry risks are accumulating, and he questioned "What could go wrong in such a structure."

1. CryptoQuant: The next Bitcoin bull run may require $1 trillion in new inflows;

2. South Korean retail investors bet on China's AI, scooping up $2.8 billion in six months: A-share stocks North Huachuang and Cambricon are on a buying spree;

3. UXLINK hacker swaps $10.54 million DAI for 6,001 ETH;

4. Machi Big Brother opens long positions in BTC and HYPE again;

5. A man illegally crosses into Myanmar's Myawaddy to engage in telecom fraud, induces victims to invest in virtual currencies, and is sentenced;

6. SK hynix plans to pay 0.5% basic underwriting fee to investment banks for ADR issuance;

7. Micron Japan launches over $9 billion chip project expansion, betting on demand for AI high-bandwidth memory;

8. Coinbase Bitcoin premium index has been in negative territory for 47 consecutive days, setting a new record for the longest negative streak;

9. Analyst: Current active Bitcoin investors are generally facing 20% losses, with the cyclical adjustment continuing;

10. German local banks accelerate rollout of crypto trading services, with related services expected to go live in the coming months.

Odaily reported that, according to on-chain analyst Ember CN's monitoring, HYPE has rebounded from $60 back above $70 in recent days. About an hour ago, a whale withdrew 212,500 HYPE ($15 million) from Morpho and then transferred the entire amount to Coinbase.

According to the latest analysis report from crypto analytics firm Nansen, as of the end of June, nearly one million investors had incurred total losses of approximately $3.81 billion from investments in Trump-related meme coins. Nansen's analysis indicates that the trading mechanism of these tokens allows Trump to profit regardless of whether the price rises or falls, as his revenue primarily comes from transaction fees and ongoing market trading activity. Additionally, the repeated promotion of these tokens on the social platform Truth Social has further amplified trading volumes.

Data shows that during the 2024 campaign, Trump pivoted from being a "crypto skeptic" to embracing the commercial opportunities of digital assets. He co-founded the crypto project World Liberty Financial with his children, and the $WLFI token they issued has also experienced significant declines. Furthermore, the TRUMP token, launched just days before his inauguration, has been described as a "speculative asset lacking real utility" and has already undergone a notable price correction. (New York Times)

Odaily Planet Daily News According to on-chain analyst Ember's monitoring, amidst the ongoing correction in the crypto market, the total market capitalization of USD stablecoins has decreased by approximately $10 billion from its recent peak, currently maintaining a total scale of around $300 billion. Meanwhile, some funds are believed to have flowed into the US stock market, which has exhibited stronger wealth effects this year.

The latest quarterly data reveals varying degrees of capital outflow among leading stablecoins:

Tether (USDT): Total supply decreased from approximately $189.8 billion to $184.1 billion, a net outflow of about $5.7 billion.

USD Coin (USDC): Total supply decreased from approximately $79.6 billion to $73 billion, a net outflow of about $6.6 billion, making it the stablecoin with the largest outflow in this round.

Tokens associated with USDC issuer Circle are also under pressure, with its stock price declining from around $136 to near $64, indicating a cooling of market expectations for its growth.

In contrast, the stablecoin USD1 recorded a net inflow of approximately $500 million during the same period, with its total supply growing from about $4.1 billion to $4.6 billion, becoming one of the few assets to increase against the trend. However, this growth is partly attributed to interest subsidy incentive mechanisms on trading platforms, such as activities on certain exchanges that guide user holdings and trading behavior.

Monitoring by the PPP Prediction Market Tool shows that the League of Legends MSI (Mid-Season Invitational) World Championship has officially begun. On Polymarket, the probability for the event "Will BLG achieve the Golden Road (Grand Slam)?" is currently reported at 21%, up 8% in 24 hours. In today's MSI match, BLG defeated the LCK team T1 with a score of 3-2, advancing to the winners' bracket of the MSI Mid-Season Invitational knockout stage. Previously, BLG won the 2026 League of Legends First Stand tournament.

The event's determination rule is: If BLG completes the "Golden Road" this year, the event is resolved as "Yes." This means BLG achieves the feat of winning all major tournaments in the League of Legends esports circuit within the 2026 calendar year. Specifically, the team's players must win all regional competitions while also participating in and winning all three major international events: the First Stand, MSI, and the World Championship. The source of information for this will be the official information on the League of Legends esports website. However, reliable reports, such as those on Liquipedia, may also be referenced.

The Odaily Seer Prophet Channel continuously monitors the prediction market, seeing changes before the pricing occurs.

Odaily reported that "White Hair Stock God" Serenity stated that when he first used ChatGPT in 2023, he believed large language models "performed poorly" in programming capabilities. However, three years later, the related technology has undergone a qualitative transformation. Modern cybersecurity and AI systems, represented by Mythos, now possess "weapon-level" capabilities. He believes the industry is currently entering a critical "inflection point," where humanoid robots and automation technologies are approaching the tipping point for large-scale replacement of human labor.

Serenity noted that although outsiders often question whether humanoid robots can currently perform complex tasks such as pipe repair or electrical wiring, the direction of technological evolution is already very clear, with continued breakthroughs expected in the coming years. Market participants, including VCs and large tech companies, have begun adjusting their strategies. Some companies have internal plans to replace a significant amount of human labor with robots to reduce operational costs, referencing previous rumors about Amazon reducing hundreds of thousands of job openings through robotics.

Serenity believes that highly regulated industries such as healthcare, ultra-high-skill professional positions, and service sectors relying on human emotional connections may still retain some resistance to substitution. However, the overall trend still points towards a "restructuring of labor." As competition between China and the U.S. intensifies in cutting-edge technology fields, humanoid robots and automation may enter a stage of national-level technological competition. He believes China already holds a leading position in certain areas.

Odaily reports that decentralized privacy protocol hinkal has released an update on a security incident, confirming that an attacker extracted approximately 797,000 USDC from its Ethereum contract through a series of transactions and exchanged it for about 454 ETH. Of this, roughly 410 ETH was subsequently transferred to Tornado Cash, while the remaining approximately 44.67 ETH was bridged to the Bitcoin network via THORChain. hinkal is currently collaborating with an external security team to trace the flow of funds.

hinkal stated that the impact of this security incident is limited to the relevant fund pools on the Ethereum chain, and contracts on other chains remain unaffected. However, all contracts have been temporarily suspended for fixes and security verification. All affected users will be fully compensated at a 1:1 ratio, with specific compensation procedures and timelines to be announced in a subsequent update.

Odaily Bitcoin pioneer and billionaire Tim Draper has denied recent on-chain rumors about transferring a large amount of Bitcoin, stating that he "has not touched any BTC assets."

Earlier, blockchain analytics platform Lookonchain, citing Arkham data, reported that a wallet "potentially associated with Draper" transferred approximately 1,000 BTC (worth about $62 million) to Coinbase Prime, sparking market attention. Arkham had previously labeled the address as "Tim Draper?" and noted the wallet has a long history of interaction with Coinbase Prime. However, the label is based on AI inference with limited confidence, and the true ownership cannot be confirmed.

Tim Draper dismissed the claims as false, reiterating his long-standing view that Bitcoin will reach the $250,000 price target within a year. According to records, Draper purchased nearly 30,000 BTC at auction in 2014 for approximately $18.7 million, at an average price of around $632. The holdings are now worth about $1.9 billion, making him one of the earliest prominent institutional investors in Bitcoin.

Meanwhile, Draper has repeatedly reaffirmed the $250,000 target since 2018, though the timeline has been consistently pushed back. Bitcoin's recent high was approximately $126,080 (October 2025). Market opinions on the future trajectory remain significantly divided. (Cointelegraph)

Odaily: According to Onchain Lens monitoring, a wallet linked to the USDH deployer deposited 212,498 HYPE, worth $15.07 million, into Coinbase.

Odaily Odaily reports that the German financial system is experiencing a rapid expansion of crypto asset services. Multiple local financial institutions, including cooperative banks and savings banks, are planning to introduce cryptocurrency trading services for retail customers, enabling users to buy and sell virtual assets directly without relying on third-party trading platforms. These local banks, which have long served households and businesses, are gradually integrating crypto trading functions into their existing retail banking systems. The related services are expected to go live over the next few months, covering millions of potential users.

Analysts believe this trend shows that Germany's traditional banking system is accelerating its embrace of the digital asset market within a compliant framework, which could further drive the penetration of cryptocurrencies into mainstream European finance. (Bloomberg)

Odaily News, CryptoQuant analyst Darkfost stated on platform X that currently, active Bitcoin investors are floating at a loss of about 20% on average, and market sentiment is in a "devaluation" phase, but has not yet reached the deep pressure levels typical of historical bear markets.

Darkfost pointed out that the True Market Mean (TMM) is currently around $76,700. This indicator reflects the average cost basis of active circulating BTC supply (excluding coins that have been dormant for a long time, potentially lost, or illiquid). Historically, this level acted as a significant resistance zone in May, where some investors chose to exit the market without incurring losses or with minor losses. Meanwhile, the AVIV Ratio (Active Value to Investor Value) is currently around 0.8, meaning active investors are down approximately 20% from their cost basis. In contrast, during historical bear markets, this indicator typically drops to 0.5–0.6, corresponding to a deeper drawdown of about 40%–50%.

Analysis suggests that in this cycle, the entry of institutional funds and ETFs has not changed Bitcoin's cyclical nature; the market continues to operate within its own structural framework. Although significant devaluation pressure is already evident, it may not necessarily need to fall to historical bear market extreme levels to trigger a rebound. Overall, cautious judgment regarding cyclical fluctuations remains necessary.

According to Coinglass data, the Coinbase Bitcoin Premium Index has been in negative territory for 47 consecutive days (from May 19 to present), with the latest reading at -0.1007%. This index measures the deviation of BTC prices on Coinbase (a leading US compliant exchange) from the global average. A sustained negative value indicates heavier sell pressure in the US market, declining risk appetite, capital outflows, or heightened risk aversion. Historical data shows that prolonged negative premiums often coincide with the withdrawal of US institutional funds, warranting vigilance against potential short-term pullback pressure.

Previously, the index recorded a negative premium for 40 consecutive days from January 16 to February 24 this year, setting the longest negative streak since the indicator's launch, surpassing the roughly 30-day continuous negative premium observed during the "1011 Crash" period.

Odaily reported that Micron officially broke ground on its factory expansion project in Higashihiroshima City, Hiroshima Prefecture, Japan, on Saturday. The project involves a total investment of approximately 1.5 trillion yen (around $9.3 billion) and aims to produce advanced memory chips for the AI era.

According to reports, the new production line will focus on manufacturing key chips such as high-bandwidth memory (HBM), which are core components supporting the performance of AI processors like Nvidia's. The relevant chips are expected to begin shipment as early as the summer of 2028.

Japan's Ministry of Economy, Trade and Industry has provided up to 500 billion yen in subsidies to support the project, aiming to strengthen the country's domestic semiconductor manufacturing capabilities and enhance supply chain resilience.

This expansion project is regarded as a significant step for Japan in strengthening its semiconductor manufacturing layout amid the global AI chip competition. (Bloomberg)

Odaily SK Hynix is advancing its US ADR issuance plan, a transaction expected to rank among the largest stock offerings in global history. According to transaction negotiation details, SK Hynix plans to pay participating underwriting banks a basic underwriting fee of 0.5% of the total fundraising amount. Additionally, the company may provide discretionary floating bonuses to the banks beyond the base rate.

Previously, SK Hynix disclosed that it plans to issue new shares not exceeding 2.5% of the company's total share capital, but the final fundraising scale has yet to be determined, and the total underwriting fee amount will vary with the issuance size. (Bloomberg)

Odaily Odaily reports that the Shanghai Baoshan District Procuratorate disclosed a case yesterday. The defendant, Huang, illegally crossed the border to participate in telecom fraud activities abroad, inducing victims to invest in virtual currencies. After the dissolution of the Myawaddy compound in Myanmar, he continued to engage in "pig-butchering" scam fraud. By using methods such as AI face-swapping and communicating through foreign models, he gained victims' trust and then guided them to participate in cryptocurrency investments. Subsequently, a team leader would take over, tricking the victims into registering, depositing, and investing on fake websites. He was ultimately sentenced by the court to two years and six months in prison for fraud, and fined 30,000 Chinese yuan. (CCTV News)