progress

Zhao Changpeng appeared on the podcast "Meanders" and discussed the pressures, adaptability, and lifelong motivation in the cryptocurrency field. When talking about pressure, Zhao Changpeng stated, "I generally do not set goals; I just do my best. This year the market is not good, so the company's performance may decline, but I have tried my best, I did not slack off, and I did not make any major mistakes. I handle problems in the same way.""No matter how difficult the problem is, I just try my best to deal with it. I also believe in simulation theory; I believe this world is simulated, so it’s like a game. It is simulated, but that does not mean this game is unimportant. However, in this game, I just need to do my best; you try your best to handle it, and after handling it, you can only wait, just lie back and win."Zhao Changpeng mentioned the industry, saying, "As for blockchain itself, I think the improvement in performance is still too slow. But because Bitcoin upgrades slowly, it is particularly stable, which is also an advantage. So there are advantages and disadvantages. Many of the ideas we had in the early days had many implementations, many that were not implemented, and many unexpected things happened."Regarding RWA, he said, "Even a year and a half ago, I would have doubted whether RWA could succeed, but now it is growing very fast. To be honest, I might have had some doubts about stablecoins five years ago, wondering how long they could last; at that time, I did not fully understand them. Stablecoins have their own uses. So these things are all things we did not think of before."

According to the official webpage, the voting phase for the Solana double deflation proposal has ended, with a voter participation rate of 60.69%. Among the votes, 67% were in favor, the opposition rate was 25.16%, and the abstention rate was 7.84%, with the approval rate reaching the required 2/3 support threshold for passage. The proposal aims to reduce the inflation rate of SOL to about half of its original rate, increasing the deflation rate to 30%. Based on current estimates, this proposal will reduce the issuance of SOL by approximately 18.9 million over the next six years.In addition, the voting phase for the resource and fee inclusion proposal has ended, with a voter participation rate of 61.14%. Among the votes, 53.9% were in favor, the opposition rate was 18.92%, and the abstention rate was 27.18%, with the approval rate not reaching the required 2/3 support threshold for passage. This proposal suggests introducing a transaction fee mechanism based on resource consumption, charging fees according to the network resources consumed by transactions, which is expected to increase the daily burn rate of SOL from the current approximately 650 to between 7500 and 9000.

Jing Tian Studio issued a solemn statement: "Reputation is the life of an artist and also their Achilles' heel. But we have the courage to say no to the extortionate behavior that threatens the reputation of artists. Upholding the principle of believing in the law and following legal procedures, we have no intention of occupying public resources, and we will leave everything to the court to handle. Apart from announcing the progress of our rights protection, we will not respond to other issues."

Tencent Group Senior Executive Vice President, CEO of Cloud and Smart Industries Group, Tang Daosheng, published an article in Tencent's internal publication, responding to external doubts about "Tencent being slow in AI." He stated that it is impossible to be completely untroubled; the Hunyuan large model has undergone multiple reconstructions, and Hunyuan Hy3 has shown outstanding performance among large models with equivalent parameters. However, due to the company's overall lack of computing power, the training of models and product development has been significantly slowed down, resulting in a considerable impact.Tang Daosheng mentioned that waking up early may not be the most critical factor; the second half of AI has just begun, and enduring longer provides the opportunity to seize the continuously emerging new opportunities.

DeFi protocol Term Labs updates on the progress of the attack incident, disclosing that the affected entity is the Term Vault governance mechanism, rather than the underlying Term protocol and its direct lending market. All Meta Vaults have now been closed and DAO governance permissions revoked to prevent further inflow of funds. This closure operation is irreversible and will permanently block new deposits.Currently, the withdrawal function remains open, and they are working with external security teams to conduct repairs and recovery. If a funding gap is ultimately confirmed, corresponding solutions will be explored. Term Labs reminds users to pay attention only to information released by official accounts and to be wary of impersonators and fraud. Previously, it was reported that Term Labs suffered a governance attack resulting in losses of approximately $8.5 million.

The cryptocurrency wallet project SafePal has released updates on the security incident, stating that it is continuously tracking phishing websites and impersonation accounts, and plans to introduce a professional anti-phishing security company to expedite the removal of malicious information to protect user asset security. SafePal mentioned that it is currently in the final selection process among four professional anti-phishing security companies, and once a partner is selected, it will further enhance the efficiency of handling threats such as counterfeit websites and scam accounts.The team is also continuously monitoring whether the affected data has been sold or made public, including channels such as dark web forums and trading markets. Once signs of data leakage are detected, affected users will receive risk alerts immediately. Regarding security audits, SafePal stated that it is in the final selection among three mature independent security institutions, which will conduct a comprehensive security review of the order system. Meanwhile, the team is reassessing the order and logistics processes to reduce the amount of data that needs to be stored in the initial phase of the system, thereby reducing potential risks from the source.For affected users, SafePal stated that it will continue to provide one-on-one assistance through official support channels and will keep updating the fraud protection page, providing updates on the incident, FAQs, and analysis of fraud cases. SafePal once again reminds users: the official will never ask users to provide their seed phrase. Users should not disclose their seed phrase to anyone, should not scan unknown QR codes or click on suspicious links, and should verify the source of information through official channels.

According to The Block, Grayscale submitted its fifth amendment application to the U.S. Securities and Exchange Commission (SEC) on August 21, further advancing its plans for the listing of the Zcash ETF. The latest application indicates that the product will officially be renamed "The Zcash ETF," with an annual management fee set at 2.5%, and plans to list on the New York Stock Exchange Arca under the code "ZCH," with Coinbase Custody Trust Company as the custodian and BNY Mellon as the transfer agent.This ETF will be converted from Grayscale's existing Zcash trust, which has been operating since 2017 and currently has assets under management exceeding $260 million. In the previous fourth amendment application, a subsidiary of Grayscale's parent company, Digital Currency Group, had negotiated to inject approximately 200,000 ZEC into the fund.

The cross-chain yield protocol BounceBit has released a security incident announcement stating that its blockchain network experienced a protocol-level vulnerability attack from August 19, 21:02 UTC to August 20, 01:54 UTC. The attacker exploited an authorization flaw in the underlying architecture of Evmos to transfer BB tokens from 9 mainnet accounts without the account owners' authorization. According to the announcement, the attacker transferred approximately 286.5 million BB through 14 transactions.The impact of the incident is limited to the BounceBit Chain itself and does not involve issues related to private key leakage, signature forgery, wallet, hardware device, or exchange account security. BounceBit's CeDeFi Strategy, Promo Vaults, Prime, and RWA products were not affected.BounceBit stated that the vulnerability originated from a defect in the authorization verification of the protocol's native module within the Evmos architecture. The attacker bypassed the security checks that were supposed to verify the authorization relationship of the funding source account when calling the relevant module through a smart contract, allowing them to designate any account as the source of funds.After the incident, the BounceBit Chain stopped block production at block height 20,702,857. The team then decided not to upgrade the chain but to permanently shut down the BounceBit Chain and reissue BB as a BEP-20 token based on the BNB Chain. BounceBit stated that the new BB token supply will be based on an on-chain snapshot taken before the first abnormal transfer (block height 20,697,260), and the 286,543,148 BB transferred by the attacker will not be included in the new token balance.Users do not need to submit applications or migrate wallets; the official plan is to automatically distribute the new BB to the corresponding BNB Chain addresses. For staked BB, BounceBit stated that it will be restored at the snapshot time, and holders do not need to perform unbinding or redemption operations. Currently, BounceBit has submitted requests for freezing and assistance to relevant exchanges and has reminded users to be vigilant against scams and not to click on any BB migration or claim links that have not been officially confirmed. The team stated that they will announce the new BEP-20 BB contract address and reissuance progress in the future.

Works in Progress Editor Simon Grimm warns that Europe has lagged behind the United States for the past 30 years, and with the development of AI, this gap may widen sharply. He points out that Europe needs to achieve growth in the process of enhancing AI capabilities, but is currently not on the right track, and the lagging situation may further deteriorate.Grimm states that the world is experiencing one of the most expensive infrastructure expansions in history, yet Europe has seen almost no significant data center projects come to fruition, which is somewhat puzzling. AI companies are urgently seeking locations to build data centers, but few projects are advancing in Europe. He believes that the problem largely lies on the supply side, as conditions in Europe are relatively worse, making related construction difficult.

According to Curve.finance Governance, Swiss Stake AG submitted a progress report for H1 2026 stating that Llamalend V2 has passed the ChainSecurity audit and has launched on Optimism and the Ethereum mainnet, supporting LP Token and PT collateral while introducing new admin fee revenue for Curve DAO.FXSwap has entered the production optimization phase, focusing on research around liquidity concentration, price_scale, and dynamic fees. FastBridge has launched on Arbitrum, Optimism, and Fraxtal, reducing the time to withdraw crvUSD from Layer 2 to Ethereum from about 7 days to approximately 15 minutes. The team has secured the second phase of 8.725 million CRV and additional CRV and crvUSD funds to support operations until the end of 2026, and plans to submit a proposal to increase the DAO protocol fee share from 10% to 30%.

The Offchain Labs research team has released advancements in zero-knowledge proof technology, covering areas such as proof acceleration, verifiable AI, and recursive security. Among them, the vector commitment scheme has reduced the proof generation time for 64,000 data entries from about 2 minutes to 32 milliseconds, achieving a speedup of approximately 4000 times; the new proof system Zaratan has achieved native full succinct proofs for integers for the first time, which can reduce the computational overhead of operations like RSA by about 5000 times; in terms of verifiable AI, a lightweight verification protocol can shorten the inference verification time for large models from several minutes to milliseconds.Arbitrum is exploring a multi-prover architecture that combines ZK proofs with fraud proofs and TEE to eliminate single points of failure and shorten L1 settlement cycles.

Intel stated that the progress of artificial intelligence represents a significant growth opportunity.

According to Jinshi reports, the situation in the Middle East remains tense, with the Houthi armed group once again claiming to have attacked Saudi oil tankers, bringing the total number of Saudi oil tankers forced to retreat in the Red Sea and Arabian Sea to 29.Regarding US-Iran negotiations, Trump stated that an agreement will be revealed within 48 hours, with a 50% likelihood. Additionally, the Iranian Foreign Ministry stated that it is close to reaching an agreement with Oman regarding the Strait of Hormuz, but the new route is expected to be usable for only 2 to 4 months.

According to Jinshi reports, Iranian President Ebrahim Raisi stated that Iran will defend its territory but does not seek to escalate the war. The Iranian Foreign Ministry spokesperson said that the US-Iran negotiations have been assessed as positive on both technical and political levels, but there is currently no established agenda.Regarding the Strait of Hormuz, the Iraqi Ministry of Oil stated that tankers loaded with Iraqi crude oil have passed through the strait. The CEO of the American Petroleum Institute stated that approximately 7 million barrels of oil are transported through the Strait of Hormuz daily.

According to Jinshi reports, Musk stated that we have made rapid progress on the Grok project.

According to Jinshi reports, U.S. President Trump stated that the progress of the Iran conflict is going very smoothly.

According to Jinshi reports, U.S. President Trump stated that the Iran war is "progressing smoothly."

According to Jinshi reports, officials from Israel and Gaza have hinted that negotiations are making progress and that news of a consensus on the second phase of the ceasefire agreement may be announced soon.

According to Jinshi reports, on July 24, the Central Committee of the Communist Party of China held a symposium for non-party figures at Zhongnanhai to listen to the opinions and suggestions of leaders from various democratic parties, the All-China Federation of Industry and Commerce, and representatives of non-partisan individuals. Xi Jinping presided over the meeting and delivered an important speech, emphasizing the need to adhere to the general principle of seeking progress while maintaining stability, promote the continuous development of the economy towards new, better, and good directions, implement an active fiscal policy and a moderately loose monetary policy, enhance development momentum, and ensure and improve people's livelihoods.