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The latest research from the Cambridge Centre for Alternative Finance shows that approximately 31% of Ethereum node activity is located in the United States, with about 39% distributed in the EU region excluding the UK, indicating that the geographical distribution of Ethereum nodes is still relatively concentrated in Western countries. The research leader, Alexander Neumuller, stated that the current node distribution is not concentrated in a single country but primarily relies on a few cloud service providers, including Hetzner, Amazon AWS, and OVH.It is noteworthy that the Ethereum network does not require half of the validators to fail for issues to arise; when more than one-third of validators go offline simultaneously, the network may be unable to complete the finalization of block checkpoints. Neumuller pointed out that nodes and validators do not have a one-to-one correspondence; a single node may run multiple validators, making it currently impossible to accurately assess the actual impact of a specific node or service provider failure on the validation network. Additionally, the research reassessed the energy consumption situation after Ethereum's Merge. The data shows that Ethereum's current annual energy consumption is approximately 7.9 GWh, equivalent to about 1 megawatt of continuous power, which is only about 0.02% of the pre-Merge level, with energy consumption decreasing by approximately 99.98%. Currently, the proportion of sustainable energy used by the Ethereum network exceeds 56%, higher than the global average. The research also pointed out that the concentration of client software is another potential risk; if a dominant client has a vulnerability, it could affect a large number of network participants. The report was published by the Cambridge Centre for Alternative Finance, with support from the Ethereum Foundation.

Changxin Technology announced that, according to data provided by the Shanghai Stock Exchange, the number of valid subscription accounts for this online issuance is 9,428,778, with a total of 816,920,125,000 shares subscribed. The preliminary winning rate for the online issuance is 0.40995452%. The total number of allocation numbers is 1,633,840,250, with a number range from 100,000,000,000 to 101,633,840,249. After the adjustment mechanism is activated, the final winning rate for the online issuance is 0.47141739%.

According to official social media news, the HTX Genesis Hackathon, hosted by HTX DAO and B.AI, and co-organized by OpenCSG and TinTinLand, has recently determined the Top 15 teams. In addition, community voting is about to begin, and users can go to the HTX DAO official website to stake and vote for their favorite teams.It is reported that the total prize pool for the HTX Genesis Hackathon reaches 20,000 USDT, and provides over $100,000 in computing power support. Participating teams will innovate around the application scenarios of $HTX, B.AI ecological applications and computing power services, AI Agent finance, on-chain asset management, trading infrastructure, DAO tools, and smart financial operating systems.

According to BBX data, last week the completion of the most significant contract for Bitcoin mining company AI transformation was announced, and data on the market performance of crypto-listed companies post-IPO further reveals the industry's valuation dilemma. The core dynamics are as follows:TeraWulf Inc. (NASDAQ: $WULF) disclosed last week through SEC 8-K that the company signed a 20-year AI infrastructure lease with AI leader Anthropic (privately held) ------ the lease subject is TeraWulf's Justified Data campus located in Hawesville, Kentucky, totaling approximately 401 megawatts of IT critical load, expected to generate about $19 billion in contract lease revenue during the initial 20-year lease term (supported by expected investment-grade credit), with the first capacity expected to be delivered in H2 2027, and full capacity of 401MW expected to reach production by early 2028. On the same day, TeraWulf sold its 50.1% stake in the AI data center JV in Abilene, Texas (168MW), with the buyer being a consortium of investors led by Fluidstack, for a total consideration of approximately $530 million (in three phases: $250 million down payment within 14 days, $150 million by the end of 2026, and about $130 million by the end of April 2027), realizing a premium on the original $450 million investment, with the proceeds reinvested into TeraWulf's wholly-owned AI infrastructure projects. CEO Paul Prager: "This milestone collaboration demonstrates our ability to provide large-scale, power-secure infrastructure for top AI clients." $WULF rose over 16% during the day, and after the announcement, several institutions raised their target prices: BofA (Buy, $34), Citi (Buy, $36), Needham (Buy, $33, up from $28), Rosenblatt (Buy, $30), with the average price from Wall Street analysts exceeding $33; the company's stock price has risen over 80% year-to-date, with Benzinga assessing the momentum score at 98.06 (extremely strong).According to INN data from July 8, BitGo Holdings (NYSE: $BTGO) has fallen about 77% since its listing at $22.43 in January 2026, becoming one of the worst performers in this round of crypto IPOs, marking a systemic downturn in the market for crypto asset companies post-IPO; during the same period, Bullish (NYSE: $BLSH) has dropped about 71% from its listing price of $90 in August 2025, eToro Group (NASDAQ: $ETOR) has fallen about 42% from its listing price in May 2025, Figure Technology Solutions (NASDAQ: $FIGR) has decreased about 14%, and only Circle Internet Group (NYSE: $CRCL) has dropped about 6% since its listing in June 2025, showing the smallest decline. The continued weak market performance has substantially frozen the pipeline for subsequent crypto IPOs: Kraken's parent company Payward suspended its listing process this spring, and Grayscale, Consensys, and Ledger have all postponed their IPO plans until market conditions improve.

According to The Block, the latest report "Merged Ethereum" released by the Cambridge Centre for Alternative Finance (CCAF) shows that approximately 31% of Ethereum node activity is located in the United States, and 39% is distributed across the European Union (excluding the UK), presenting an overall Western centralization pattern.The report points out that there are potential centralization risks in the Ethereum network—nodes are highly concentrated among three major hosting service providers: Hetzner, AWS, and OVH. If more than one-third of the validators go offline simultaneously, the network checkpoints will stop finalizing.In addition, the report recalculated Ethereum's energy consumption, estimating that the annual electricity usage after the merge is about 7.9 gigawatt-hours, a decrease of approximately 99.98% compared to before the merge, with sustainable energy accounting for over 56%. The cost needed to offset its annual carbon emissions is only about $33,500 to $73,800.

According to official news, the stablecoin USDC issuer Circle (NYSE: CRCL) announced on July 10 that it has received final approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank named Circle National Trust.The announcement stated that this approval marks an important milestone in U.S. regulation, placing the trust bank directly under the federal oversight of the OCC. After opening, Circle National Trust will initially provide federally regulated digital asset custodial services for Circle and its affiliates. According to the approved business plan, the bank plans to directly offer custodial services to specific banks and financial institutions in the future, ultimately achieving direct management of USDC reserves, thereby further enhancing the security and transparency of USDC. Circle CEO Jeremy Allaire stated that this move is a key step in integrating blockchain technology and digital assets into the core financial system of the United States.

Michael Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the cryptocurrency market structure bill, the Clarity Act, "is very close to being finalized," and urged Congress to complete its passage before the August recess.

According to Bits.media, the Financial Market Committee of the Russian State Duma has approved the final version of the government's cryptocurrency regulation bill, which will be submitted for a second reading. Committee Chairman Anatoly Aksakov revealed that the second reading version made several key adjustments: the requirement to mandatory declare cryptocurrency wallet addresses has been removed, and instead, only balances and transaction flows need to be declared to protect residents from the risk of sensitive information leakage; a new amendment allows for the legal purchase of securities in the securities market and Russian digital financial assets using cryptocurrency.In the future, it may be allowed for Russian licensed brokers and asset managers to trade on foreign cryptocurrency exchanges, but they must meet additional requirements such as the "friendliness" of the jurisdiction. For non-professional investors, the annual limit through a single intermediary is set at 300,000 rubles, and it is limited to "the most liquid cryptocurrencies." The bill also introduces a two-day freeze on large transfers to foreign and third parties. Aksakov did not clarify whether the proposal to prohibit Russians from using non-custodial cryptocurrency wallets would be retained.

According to Cointelegraph, Sei has released the Giga white paper version 2, which aims to bring finality under 250 milliseconds, pre-execution privacy protection, protocol-level MEV resistance, and a processing capacity of over 200,000 transactions per second.

According to The Block, the UK's Financial Conduct Authority (FCA) finalized a comprehensive crypto regulatory framework on Tuesday, with a mandatory licensing regime set to take effect on October 25, 2027. The framework covers prudential requirements, market abuse regulation, and stablecoin standards, applicable to crypto trading platforms, custodians, stablecoin issuers, lending and staking service providers, as well as some DeFi companies with identifiable controlling entities.Businesses can apply for authorization between September 30, 2026, and February 28, 2027, and existing anti-money laundering registrations will not automatically convert. Regarding trading platform rules, the FCA requires UK-qualified crypto asset trading platforms to conduct due diligence, meet entry standards, and publish disclosure documents, while removing the previous exemption that allowed fungible crypto assets to be listed without disclosure documents. Market abuse rules cover insider trading and market manipulation.For stablecoins, the FCA has removed the obligation to forecast the redemption of reserve assets, allowed limited group internal custody arrangements, and reduced the K-SII capital ratio for stablecoin issuance from 2% to 1%. Crypto assets on qualified platforms will be subject to a unified 40% net risk exposure requirement and a 40% counterparty default volatility adjustment. FCA's Director of Payments and Digital Finance, David Geale, stated that the framework is an important milestone for crypto regulation in the UK, providing regulatory certainty while allowing businesses to maintain innovation space.

Liquid Capital founder Yi Lihua posted that the current Bitcoin trend represents the third wave of decline since the peak of 1011. According to volatility theory and cyclical patterns, this may be the final major drop.Yi Lihua pointed out that the main influencing factors for this round of decline include the performance of the U.S. stock market and Strategy, while closely monitoring the Federal Reserve's response to CPI data to see if it will change interest rate cut or hike expectations, which could trigger a continued pullback in the U.S. stock market. Additionally, black swan or explosive events often occur at the tail end of past bear markets, which have not yet appeared and still require ongoing observation.He believes that based on Bitcoin's peak of $126,000, a 60% drop would bring it down to about $51,000, and a 66% drop would bring it down to about $43,000. Regardless of where the final bottom lies, July and August may be the last bottoming area of this cycle and the most noteworthy time window for bottom fishing in the next three years.

According to Jinshi, the final value of the U.S. inflation rate expectations for June 5 to ten years is 3.3%, which is in line with expectations, and the previous value was 3.4%.

Cardano wallet service provider SecondFi released the latest update on the theft incident, stating that the team has completed the final balance snapshot of affected users' assets. Previously, multiple snapshots were continuously recorded during the incident response as a basis for subsequent asset recovery and verification.SecondFi stated that the engineering and security teams are advancing the asset recovery plan, with the expectation that asset returns could begin in about two weeks. One week will be used to reach a feasible technical solution, and one week will be used for testing and review, with specific timing potentially adjusted as progress is made. The platform will resume operations only after passing a comprehensive security review. Currently, users only need to submit support requests through the official website ticketing system, with no additional actions required.

According to Jinshi, the final value of the GDP price index for the United States in the first quarter is 3.6%, higher than the market expectation of 3.5% and the previous value of 3.5%.

According to Jinshi reports, the final annualized quarterly rate of the actual GDP in the United States for the first quarter is 2.1%, higher than the market expectation of 1.6% and the previous value of 1.6%.

THORChain released an event update stating that the network is entering the final stage of recovery. Currently, the integrity of each node's keyshare is being verified through the new KeyVerify protocol. This step is used to confirm that each vault is in a secure state before the churn begins. If the verification passes, the next major step will be the churn, where the network will transfer all funds to new vaults.THORChain indicated that the churn time is the current main variable, which may take anywhere from several hours to several days. After the churn is completed, subsequent steps are expected to progress quickly, including re-enabling Secured and Trade assets, LP operations, and finally restoring trading. This network recovery has taken longer than expected, as the team has consistently prioritized security and stability, and will continue to share more updates moving forward.

According to CoinDesk, Ethereum developers have entered the final development phase of the Glamsterdam upgrade, running a developer network (devnets) that includes all planned EIPs, which will then be deployed to the public testnet. Parithosh Jayanthi, a core developer at the Ethereum Foundation, stated that this is the final stage before codebase hardening and testnet launch, and although there is no fixed timeline, significant progress has been made. Glamsterdam is expected to launch on the mainnet in the second half of this year and is described as "the largest upgrade since the merge," which will change many assumptions about Ethereum and lay the groundwork for larger-scale expansions in the future.Key features include EIP-7732 (built-in proposer-builder separation), which incorporates a separation mechanism for block construction and proposal into the core protocol to reduce MEV manipulation opportunities; and EIP-7928 (block-level access lists), which allows blocks to declare in advance the accounts and contract data they will access, improving execution efficiency. Glamsterdam also includes a series of gas repricing that will significantly change the operational costs on Ethereum: high-computation operations will become cheaper, while state management costs will increase.