Author: TechFlow
Market Dynamics Yesterday
Trump Imposes 25% Tariffs on India
According to Jin10 data, the White House stated that Trump signed an executive order imposing an additional 25% tariff on goods from India in response to India's continued purchase of Russian oil. After Trump's new tariffs on India, oil prices rose sharply, reaching the day's high point.
Fed's Kashkari: Two Rate Cuts This Year Still Seem Appropriate
According to Jin10 data, Fed's Kashkari said that two rate cuts this year still seem appropriate. However, if inflation rises due to tariffs, the Federal Reserve might pause rate cuts or even raise rates.
US Federal Government Collaborates with OpenAI to Promote AI Applications
According to Fox News, the US General Services Administration (GSA) announced today a cooperation agreement with OpenAI, providing ChatGPT Enterprise version to all federal agencies at a fee of $1 per agency. This plan is an important part of the Trump administration's AI action plan, aimed at improving government efficiency.
OpenAI CEO Sam Altman stated that providing AI tools to public service sectors can help government personnel better serve American citizens. As part of the collaboration, federal agency employees will receive customized training resources and guidance programs.
Ethereum Foundation Reveals Expansion Progress: Mainnet Gas Limit Raised to 45 Million, Targeting 100 Million
According to the Ethereum Foundation's official disclosure, the Ethereum mainnet raised its Gas limit to 45 million after the Berlinterop event, which is the first step towards the 100 million Gas goal.
Additionally, all major execution layer clients have deployed the pre-merge historical expiration function, significantly reducing node disk usage. The Ethereum Foundation has also appointed Marius van der Wijden to lead Layer 1 scaling efforts alongside Ansgar Dietrichs and Tim Beiko, and is considering Block-level Access Lists (BALs) as a key feature for the Glamsterdam upgrade.
Furthermore, the Ethereum Foundation is developing a zkEVM verification client that will validate block execution through zero-knowledge proofs in the future, significantly enhancing Layer 1 scaling capabilities.
Live Trading Platform Sidekick Announces Establishment of Sidekick Foundation and Token Economics Model
According to the official announcement, live trading platform Sidekick announces the establishment of Sidekick Foundation and will launch token K. K is reportedly the native utility and governance token for the Sidekick platform, used for tipping, subscriptions, unlocking exclusive content, and participating in governance.
K has a total supply of 1 billion tokens, with an initial circulating supply of 111 million tokens (11.13% of total supply). Token allocation:
Ecosystem Growth (20%);
Long-term Community Incentives (20%);
Liquidity Incentives (4%);
Foundation (16%);
Advisors (5%);
Core Contributors (15%);
Investors (20%).
Investor, advisor, and core contributor shares will be locked for 12 months, then linearly unlocked over 24 months.
ConsenSys CEO: 42 is the Answer to "Linea TGE Date"
Ethereum co-founder and ConsenSys CEO Joseph Lubin participated in a Linea podcast event yesterday, and when asked about the specific TGE date for Linea, he stated, "I think 42 is the answer to this question."
Galaxy Digital CEO: Wave of Corporate Crypto Asset Holding Has Peaked
According to Bloomberg, Galaxy Digital founder and CEO Michael Novogratz said during the company's Q2 earnings call that the trend of corporations incorporating cryptocurrencies into their balance sheets may have peaked. He noted that the key now is to observe which existing companies will become industry leaders.
Tornado Cash Developer Found Guilty of Operating Unlicensed Money Transmission Business
According to The Block, a Manhattan jury found Tornado Cash developer Roman Storm guilty of conspiring to operate an unlicensed money transmission business, but could not reach a consensus on money laundering and sanctions charges.
Multiple crypto organizations, including the DeFi Education Fund, expressed disappointment with the verdict and stated they would continue to support Storm. The Blockchain Association said the ruling sets a dangerous precedent for open-source software developers and urged Storm to appeal. Samson Enzer from CahillNXT stated that the verdict shows the government failed to prove Storm intentionally helped criminals launder money through Tornado Cash. Storm himself said he will continue to fight the charges.
Parataxis Plans Merger with SilverBox Corp IV, Raising $640 Million to Support BTC Reserves
According to The Block, crypto investment startup Parataxis Holdings will merge with SilverBox Corp IV SPAC, aiming to raise $640 million for a Bitcoin fund management company to be listed on the New York Stock Exchange (NYSE). After the merger, the new company plans to list on NYSE with the ticker PRTX.
Parataxis Holdings stated: "This business merger will bring up to approximately $240 million in funds to Parataxis Holdings, subject to SBXD (SilverBox Corp IV SPAC) shareholder redemption. This includes $31 million in equity, which will be immediately used to purchase Bitcoin." Parataxis also said it has "signed a share purchase agreement" allowing it to "issue and sell up to $400 million in equity" and added that the post-merger actions "could bring total proceeds of up to $640 million to support the execution of the BTC fund management strategy and accelerate it".
Cosmos Health Secures $300 Million Financing, Initiates Ethereum Reserve Strategy
Listed company Cosmos Health (NASDAQ: COSM) has reached a securities purchase agreement with US institutional investors, securing up to $300 million in senior secured convertible notes. According to the agreement, the company will allocate 72.5% of the net proceeds to establishing an Ethereum reserve, with the remaining funds used for working capital and business development.
Cao Cao Travel to Explore RWA Tokenization and Stablecoin Payments
According to Sina Finance, Cao Cao Travel signed a virtual asset strategic cooperation memorandum with Hong Kong-licensed financial institution Victory Securities today. The two parties will collaborate deeply in three areas: real-world asset (RWA) tokenization, stablecoin payment applications, and compliant digital currency issuance. This collaboration is the first systematic exploration of RWA and stablecoins in the domestic travel industry. Cao Cao Travel's Executive Director and CEO Gong Xin stated that through blockchain technology and Web3.0 innovative models, they will accelerate the asset tokenization process of the Robotaxi industry.
Market Dynamics
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FastLane CEO: Intentional Flaws Create a More Perfect Monad
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