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Flash

Gate DexBuilder launches its first event contract Builder, offering up to $3 million in support to Builders worldwide

According to the official announcement, Gate's DEX infrastructure platform Gate DexBuilder has officially launched its first event contract Builder and initiated a $3 million funding program, open for global project parties, developers, communities, and Web3 applications to collaborate, promoting the ecological construction of the event contract market.The event contract Builder is dedicated to lowering the development threshold for market products, providing partners with integrated infrastructure services covering market creation, trading, liquidity support, settlement, and operational management. Through infrastructure services such as APIs and SDKs, partners can quickly deploy branded event contract products without building the underlying trading and settlement systems from scratch.Currently, the program is open for applications from brokers and comprehensive trading platforms, crypto wallets, Web3 applications, media information platforms, AI Trading, AI Agents, quantitative trading platforms, as well as sports, esports, and entertainment products. Selected projects can receive up to $3 million in funding and ecological resource support, covering product research and development, technical integration, liquidity building, market promotion, and user growth.Jason Fung, the project leader of Gate DexBuilder and Head of Global Partnerships, stated that the development of the event contract market requires more application scenarios and infrastructure support. Gate DexBuilder hopes to lower the construction threshold through the event contract Builder, helping more partners explore innovative applications in the event contract market. In the future, Gate DexBuilder will continue to open up the infrastructure capabilities of the event contract market, working with global Builders to explore more innovative application scenarios and promote further development of the market ecosystem.

Cipher disclosed a loss from the second quarter sell-off, PowerCompute pledged 307 BTC to restructure debt

According to BBX data, yesterday and in recent days, globally listed companies disclosed the latest developments in cryptocurrency assets and debt restructuring, with the core information as follows:Cipher Digital reports losses in the second quarter due to Bitcoin sell-off: Bitcoin mining and digital infrastructure company Cipher Digital (NASDAQ: CIFR) released its financial report for the second quarter of 2026. Its total revenue was $24.84 million (entirely from mining), with a net loss of $267.5 million (mainly impacted by a $150.5 million loss due to changes in the fair value of warrants), and adjusted EBITDA was a loss of $29.99 million. As of June 30, its total cash and restricted cash amounted to approximately $4.56 billion. Notably, the company's Bitcoin holdings have significantly decreased in book value from $125.4 million at the end of 2025 to $37.8 million, with realized Bitcoin sale losses of approximately $23.51 million in the second quarter.PowerCompute restructures debt with Bitcoin collateral to lower interest rates: Bitcoin mining company PowerCompute successfully restructured three debts totaling $18 million using 307 Bitcoins from its reserves as collateral, replacing previous loans from institutions such as Galaxy Digital. The new financing adopts a non-recourse, 30-day revolving structure with an annual interest rate of about 2% (far lower than some old loans at 12%), allowing the company to significantly reduce interest expenses without selling Bitcoin spot.West Main Self Storage slightly increases holdings: Storage company West Main Self Storage disclosed an increase of 0.155 Bitcoins in the secondary market, bringing its total holdings to 16.188 BTC.

Analysis: The average time from Tether's freeze proposal to execution exceeds 2 hours, allowing high-risk addresses to transfer funds by taking advantage of the time difference

FlashRescue co-founder @DarcyAri posted on the X platform that recently, during a joint investigation with partners on a case, Tether experienced a transfer of funds from one address during the execution of a proposal to freeze addresses, resulting in a decrease in the frozen amount. Further review by FlashRescue revealed that this is not an isolated incident. As of August 3, 2026, through an analysis of 2,955 Tether freeze events on the Ethereum and Tron networks, it was found that among addresses involved in risks such as entity sanctions, fraudulent activities, money laundering, FATF blacklist jurisdictions, and malicious attacks: 60 addresses cleared their assets and completed front-running transfers before the formal execution of the freeze, with a total net outflow of 20,429,847 USDT, starting transfers an average of 13 minutes and 59 seconds after the freeze proposal was submitted, and completing the main fund transfers within 15 minutes and 15 seconds; additionally, 113 addresses transferred some assets before the freeze was executed, involving approximately 35,524,300 USDT.The average time from the submission of the freeze proposal to the formal execution of the freeze by Tether is 2 hours, 16 minutes, and 15 seconds, indicating a long time window between the public announcement of the freeze proposal and its actual execution. On July 3, a cluster of addresses transferred funds continuously within minutes and then split the transfers to the same address. The above cases suggest that some high-risk addresses may be actively monitoring Tether freeze proposals and utilizing the time difference between the public announcement of the proposal and the actual effectiveness of the freeze to implement front-running transfers. This mechanism leads to the failure of freezing the involved funds and undermines the actual effectiveness of sanctions, anti-money laundering, and law enforcement cooperation measures.

Hong Kong police updated on the virtual currency Fun Coffee scam, with total losses rising to approximately HKD 104 million

According to Hong Kong 01, the Hong Kong police updated information regarding the virtual currency Fun Coffee scam, revealing that as of August 5, a total of 255 related reports had been received, an increase of 30 from earlier, with total losses rising to approximately HKD 104 million. In addition, the Macau police arrested two women involved in 9 cases amounting to about 3.6 million Macau patacas.Regarding TVB artists who have hosted activities related to the Fun Coffee scam, the Hong Kong police stated that during the investigation, they would definitely contact the victims and relevant individuals to identify the mastermind behind the scam and their roles. Fun Coffee claims to be a large coffee investment enterprise in Phu Quoc, Vietnam, with a capital scale exceeding USD 1 billion. It entered the Hong Kong market by the end of 2025, packaging its image through marathons, banquets, social events, distributing flyers, and inviting artists to promote it, while registering a company, opening offices, and stores in Hong Kong. The actual operation was to lure citizens into downloading the app to complete tasks under the guise of investing in high-tech coffee equipment, gene optimization technology, and agricultural equipment, using Tether (USDT) and other cryptocurrencies for deposits. The platform promised annual returns of up to 197%--278%, with higher returns for larger amounts and longer deposit periods, and set up a commission structure to encourage recruitment. In July 2026, the Hong Kong Securities and Futures Commission listed it as a suspicious investment product. In late July of the same month, the app suddenly ceased operations, withdrawals became impossible, customer service went offline, and the offices and stores were vacated, leading to the collapse of the scam.
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