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On the day BitMEX announced its shutdown, BKX Services Inc. and David Namdar filed a class action lawsuit in the Southern District of New York Federal Court, accusing the platform of manipulating user forced liquidations and stealing Bitcoin collateral by using insider trading privileges and server freezing tactics. The plaintiffs claim a total loss of approximately 623 BTC, with BKX losing at least 305.81 BTC and Namdar losing over 316.85 BTC, seeking the return of Bitcoin and damages.The complaint states that BitMEX allowed clients to use up to 100 times leverage, while forcibly liquidating positions when the collateral value was still about twice the loss, with the remaining Bitcoin being included in the platform's insurance fund, allowing BitMEX to profit from it. This lawsuit traces back to relevant transactions starting from July 23, 2018, while a similar case from 2020 was voluntarily withdrawn on June 30, 2025.

The cryptocurrency exchange BitMEX accelerated the delisting of 65 derivative contracts and spot trading pairs in July, far exceeding the 19 that were delisted in the first six months of this year. The platform attributed the delisting to "insufficient trading interest" and stated that this move is related to its decision to close the exchange. Previously, BitMEX announced that it would officially cease operations on September 23, but did not disclose the specific reason for the closure.Restructuring advisor Roshan Dharia stated that the shutdown of BitMEX reflects the structural pressures faced by mid-sized centralized exchanges: liquidity continues to concentrate on leading platforms, while compliance costs are continuously rising. Earlier, the on-chain analysis platform Bubblemaps revealed that 75% of the total supply of BitMEX tokens BMEX (originally intended for employee incentives, ecosystem growth, and long-term reserves) was never allocated as planned, with the only claim occurring in November 2022. After the shutdown announcement, the price of BMEX dropped by approximately 95%.

On-chain analysis platform Bubblemaps revealed that the ecological token BMEX launched by BitMEX in 2021 had 75% of its supply originally allocated for employee incentives, ecological growth, and long-term reserves never claimed. Data shows that 92% of the supply was initially locked in vesting contracts, while the remaining 8% was distributed at launch (5% for airdrops, 3% for products and liquidity). The only claim occurred on November 2, 2022, when the product and liquidity addresses claimed 63.75 million BMEX, with no claim records from other addresses. Bubblemaps pointed out that the tokenomics or allocation plan may have off-chain adjustments later, but based on the announced plan, the relevant allocations may not have actually been executed.BitMEX announced on July 23 that it would officially cease operations on September 23. The price of BMEX has dropped by about 95% since the shutdown announcement, currently quoted at approximately 0.0052 USDT. It is understood that the official handling of the BMEX token is very limited, with no additional compensation or special arrangements. The only action explicitly mentioned in BitMEX's official shutdown announcement is that the platform has immediately unstaked all staked BMEX and returned it directly to the holders' accounts.

Binance founder Zhao Changpeng paid tribute to BitMEX founder Arthur Hayes. It's unfortunate to see BitMEX shut down. Some thoughts:BitMEX was the first to launch 100x cryptocurrency trading back in 2014. Futures contracts had existed before this, making Friday trading exceptionally busy. BitMEX only accepted Bitcoin deposits, supported only one chain, allowed withdrawals once a day, and required multi-signature wallets. These seemingly inconvenient restrictions actually protected them from hacker attacks.After 18 months of struggle, the four founders ultimately admitted to violating the Bank Secrecy Act (BSA) a month before the trial. They were each fined $10 million and placed under house arrest. No one went to prison as a result. However, their business ultimately could not withstand the "cryptocurrency war" initiated by the Biden administration.In the end, the liquidation process of BitMEX appeared orderly, and users were able to withdraw their assets. Tribute to Arthur Hayes.

The well-known cryptocurrency derivatives exchange BitMEX, founded by Arthur Hayes, officially announced that it will close at 04:00 (UTC) on September 23 and has stopped new user registrations. It will stop opening new positions and gradually enforce liquidation starting from August 26.It is reported that BitMEX, as the pioneer of perpetual contract products, gradually withdrew from the operation of BitMEX after being targeted by the U.S. government. In the past few years, BitMEX has continuously sought acquisition without success.

Gate officially released the 2026 Wealth Management Semi-Annual Report. The report shows that the overall cryptocurrency market faced pressure in the first half of the year, with BTC and ETH dropping approximately 33.1% and 47.1%, respectively, and market risk appetite continued to decline. Against this backdrop, user demand for stable returns and high liquidity assets has continued to rise.Gate's Yubi Treasure position size remained stable at 2 billion USDT, with funds gradually shifting towards demand for liquidity management. At the same time, the GUSD minting rate has stabilized, with funds mainly flowing into on-chain earning scenarios, continuously demonstrating the value of income-generating stable assets. In terms of advanced wealth management, Gate's dual-currency investment maintains an industry-leading advantage, with the low-buy strategy achieving a 0-day term APY of up to 295%, significantly higher than the market average of 166%. Gate's quantitative fund continues to perform steadily, with the interstellar hedge (USDT) achieving a cumulative return of 18.7%. In asset allocation, Gate's stock holdings continue to optimize, with the proportion of Korean stocks rapidly increasing following their launch, accounting for about 75% of the overall holdings by the end of June. The top ten holdings are mainly concentrated in semiconductor and technology growth assets, with SK Hynix holding the largest position. Additionally, Gate's GUSD minting annualized rate reached 3.8%, supporting users to participate in diverse ecological scenarios such as Launchpool and Pre-IPOs; Yubi Treasure USDT wealth management VIPs can enjoy an annualized return of 4.0%.In the future, Gate will continue to improve its wealth management system covering stable wealth management, enhanced returns, and multi-asset allocation, providing more flexible and efficient asset appreciation solutions for users with different risk appetites, helping users achieve long-term value growth amid market cycle changes.

According to Reuters, Amazon conducted layoffs in its Artificial General Intelligence (AGI) department on July 22, marking a new round of smaller-scale adjustments following the company's reduction of 16,000 employees in January of this year. A company spokesperson stated in response to Reuters' inquiry that AGI remains one of the company's most important directions, but it had to make the "difficult decision" to eliminate certain positions to focus on customer priority projects.The layoffs involve the teams overseen by AGI Data Services Vice President Adeeb Shanaa and AGI Information Vice President Vishal Sharma, with specific details on the scale of the cuts not yet disclosed. Previously, Amazon AGI head Rohit Prasad left at the end of last year, and AGI Lab head David Luan departed in February of this year. AGI-related operations were integrated under Senior Vice President Peter DeSantis in December of last year, along with departments such as chip development and quantum computing.

The non-custodial fixed-rate lending platform Tenor announced the completion of its seed round financing, led by Variant, with participation from Nascent, Prelude, Coinbase Ventures, Lattice, Very Early, and several angel investors continuing to provide support. The amount of financing has not been disclosed.Tenor is built on the fixed-rate lending underlying protocol Midnight based on Morpho. It is currently live on the Base network and will expand to more chains in the future, supporting features such as automatic extensions, OTC quotes, and floating interest rates for pending orders. The platform currently supports crypto asset collateralized lending and plans to expand into the foreign exchange and credit markets.

JoinCare announced the completion of a new round of strategic seed funding, with participation from Titans Ventures, DI Foundation, and Candaq Ventures.This round of financing will be used to upgrade JoinCare's core infrastructure and the CareAgents AI-assisted research system, expand the global early-stage biopharmaceutical projects and the network of scientific and medical advisors, and promote the ecological applications and Launchpad construction of JoinCare.JoinCare is building an open DeSci incubation network aimed at early biopharmaceutical innovation, providing support for projects from discovery and scientific evaluation to collaborative incubation by connecting research teams, scientific and medical experts, ecological builders, and communities. In the future, JoinCare plans to expand this system to global research institutions and innovation teams, creating an AI-driven distributed biopharmaceutical innovation network.

Famous trader Killa posted that Bitcoin's historical bear markets typically complete a 5-wave adjustment and form two significant peaks. The first peak often occurs after the initial major rebound following the top, known as the "complacency peak," where the market generally believes that the bull market has returned. Subsequently, prices usually continue to decline to new lows. He pointed out that similar structures appeared in the cycles of 2014, 2022, and 2026.After the complacency peak is formed, the market typically experiences a "dead cat bounce" and establishes a phase bottom; as market sentiment deteriorates and short positions concentrate, a short squeeze then drives the price rebound, with the final bottom usually forming after the second significant retest.Killa believes that BTC has currently swept through the bottom formed by the "dead cat bounce" and completed a 5-wave adjustment structure similar to previous cycles. From a structural perspective, the adjustment wave has ended, and the bottom may have already formed. However, he remains cautious about the time cycle. Previous bear markets typically lasted about 365 days before forming the final bottom, while this round, if the bottom has already appeared, has only lasted about 260 days, which is about 100 days earlier than the historical cycle. Currently, he maintains a 50-50 judgment, but compared to significantly making new lows, the likelihood of forming higher lows subsequently is greater.

According to The Wall Street Journal, AMD (AMD.O) has signed a significant chip and investment agreement with Anthropic. AMD will invest $5 billion in Anthropic as part of the chip deal.Anthropic will begin purchasing up to 2 gigawatts of AMD (AMD.O) latest generation chips in the first half of 2027.

According to an analysis of LSEG consensus expectation data by Reuters, Microsoft, Alphabet, Amazon, Meta, and Oracle are facing cash flow pressures from AI investments. On the current trajectory, by 2027, the combined capital expenditures of these companies are expected to exceed their generated free cash flow. Data shows that these companies' annual operating cash flow in 2027 will increase by approximately $340 billion compared to 2025, but capital expenditures are expected to increase by about $534 billion, meaning that for every additional $1 in cash flow, an extra investment of about $1.57 is required.Among them, Oracle faces the most significant pressure, with its capital expenditures as a percentage of operating cash flow rising from 47% in the 2022 fiscal year to 174% in the 2026 fiscal year (ending in May), with total capital expenditures reaching $55.7 billion, while operating cash flow is only $32 billion. The company's stock price has already dropped 36% this year. Amazon also saw its free cash flow drop to $1.2 billion in the first quarter. Analysts point out that if AI fails to significantly drive revenue growth, expand profits, and improve cash flow in the next two to three years, the market will begin to question whether the investment cycle has been excessive. Alphabet will be the first to announce its earnings report this Wednesday, and the market will closely monitor whether its cloud and AI revenues can keep pace with the growth in expenditures.

According to The Block, the new version of the cryptocurrency ethics clause signed by President Trump has been approved, explicitly prohibiting federal officials (including members of Congress, the President, and the Vice President) from issuing digital assets, with the Department of Justice serving as the primary enforcement agency rather than state attorneys general. This arrangement has sparked controversy among Democrats. Maryland Democratic Senator Angela Alsobrooks stated that "having the Department of Justice enforce the ethics clause is not a serious proposal," and she will not support the bill if the final text remains as such.This clause is the last obstacle to the passage of the Clarity Act, with the controversy focusing on Trump's own meme coin and his family company World Liberty Financial—last month's financial report revealed that Trump received millions of dollars in related income from WLF. The White House has not confirmed the specific wording of the clause but stated that it is working with lawmakers to push the bill through and will place the blame for any obstruction on the Democrats.

The U.S. Attorney's Office for the District of Columbia, in conjunction with the U.S. Secret Service Washington Field Office, announced that an investigation into multiple international cyber fraud cases has led to the seizure of over $25 million in cryptocurrency, with the funds suspected to be linked to cryptocurrency investment scams targeting residents of the United States and Canada. This operation is part of the U.S. "Scam Center Strike Force," initiated in 2025 by D.C. Attorney Jeanine Ferris Pirro, which has so far recovered assets totaling over $800 million.U.S. prosecutors stated that on July 21, 2026, the D.C. Attorney's Office submitted five civil forfeiture complaints to the U.S. District Court, seeking to confiscate over $25 million in crypto assets recovered from various fraud investigations. Investigators indicated that these cases involve multiple money laundering networks, with victims spread across the globe. Criminal groups lure victims into investing through fake cryptocurrency investment platforms, online romance scams, and other methods, and conceal the source of funds through multi-layered wallet addresses and coin mixing operations.The seized funds are related to five major investigations: in one case, Canadian law enforcement provided the U.S. Secret Service with wallet addresses suspected of transferring illegal proceeds. Investigators froze the relevant addresses and tracked over 270 suspected victim transactions, involving approximately $10.4 million; the second case involves an online romance scam where over 200 victims were defrauded, with illegal funds transferred through hundreds of intermediary wallet addresses, mixing with other victims' funds, totaling about $12.08 million; the third case involves a victim in the Washington D.C. area who participated in a fake cryptocurrency investment project and lost contact with the scammers after a failed withdrawal, with related funds amounting to about $1.23 million; in the fourth case, a victim transferred millions of dollars in cryptocurrency to a fake investment account, and investigators traced part of the funds to six wallet addresses, freezing approximately $2.39 million; in the fifth case, scammers impersonated a "fund recovery" agency, tricking victims into paying fees, with the amount involved being about $285,000. The U.S. Secret Service stated that these cases are still under ongoing investigation, and law enforcement is tracking the suspects behind the fraud networks and will collaborate with international law enforcement agencies to hold them accountable.

According to Dawn, the Federal Investigation Agency (FIA) of Pakistan has established a virtual currency investigation department within the newly launched National Command and Control Center (NC3), focusing on combating money laundering and terrorist financing using virtual assets.Officials responsible for the counter-terrorism department stated that this department will work in conjunction with the newly established Pakistan Virtual Assets Regulatory Authority (PVARA) to specifically investigate criminal activities related to crypto assets, and recommend that the National Cyber Crime Investigation Agency (NCCIA) and the Anti-Narcotics Force (ANF) set up similar units to address the use of crypto assets in cybercrime and drug trafficking.The FIA has also integrated functions such as anti-money laundering, border entry and exit monitoring, human trafficking, and smuggling investigations within the NC3, and is promoting new regulations and personnel expansion to shorten case processing times and enhance law enforcement coordination efficiency.

Deutsche Bank stated in its latest research report that the market's concerns about Microsoft's surge in capital expenditure, AI investment returns, and the concentration of Open AI orders have been significantly overstated. The current valuation is attractive, maintaining a "Buy" rating and a target price of $550. Deutsche Bank expects Microsoft's fourth fiscal quarter (corresponding to the second quarter of the calendar year) revenue to be $87.4 billion, a year-on-year increase of 14.3%; non-GAAP earnings per share are expected to be $4.17. The growth rate of Azure, calculated at constant exchange rates, is expected to reach 40% to 41%, with enterprise cloud migration, AI computing demand, and new data center capacity continuing to support growth. Microsoft 365 commercial cloud revenue is expected to grow by 15% to 16%, and paid seats for Copilot may exceed 25 million by the end of the year.

Digital asset investment company CoinShares announced the launch of a new investment platform and the CoinShares Bitcoin Mining UCITS ETF, entering the UCITS (Undertakings for Collective Investment in Transferable Securities) market ecosystem in Europe, which is worth $30 trillion.CoinShares stated that this initiative aims to help CoinShares expand its business towards major institutional investors in Europe, including pension funds, insurance companies, and private banks.

Coinbase CEO Brian Armstrong posted on X in response to the recent controversy sparked by his profile picture change and the voices from the Base community feeling insufficiently supported. Armstrong made it clear that his personal X account should not be viewed as investment advice or a signal source for individual tokens; he simply shares content online that he finds interesting or funny, and he may not be aware of whether the content relates to a specific token or project. His posts and profile picture do not constitute endorsement or commitment.Armstrong pointed out that Base is committed to building financial services infrastructure, covering tokenized stocks, lending protocols, stablecoin payments, and even meme coin trading. He supports economic freedom and user freedom to trade, but treating his X account as a trading signal is a risk users must bear, which also goes against his own wishes. Regarding support from the Base team or Coinbase, Armstrong stated that many tokens cannot be listed on centralized exchanges due to compliance and regulatory reasons, "If you hope Jesse or I can help pump or call certain tokens, we will not do that."The ways Coinbase has committed to support include hosting offline Base Batches events, providing funding to promising developers, investing in quality projects through Coinbase Ventures and the Base ecosystem fund, and regularly integrating promising Base DeFi protocols into Coinbase products. Currently, the post has over 1.05 million views.