News linked to both this project and an event.
According to official news, Monad announced that the inaugural Open Summit will be held in Singapore on October 6. The summit will take place on the eve of the Singapore Token2049 conference. The Monad Foundation will bring together founders, developers, venture capitalists, and institutions in Singapore to share with the public the on-chain economic development marking the first anniversary of Monad's mainnet launch. Monad is a dynamic economic ecosystem composed of approximately 200 validator nodes spread across more than 30 countries/regions, supporting over 150 applications covering payments, real-world assets, trading, and many other fields. As the theme of this summit, Open represents the multiple core principles of Monad's open finance: Open Access: Permissionless, no gatekeepers Open Market: Fair, anti-MEV infrastructure designed to create a level playing field Open Source: Free developer tools available for anyone to use Open to Everyone: Accessible to all According to details, Open Summit tickets also include admission to the Open official celebration party Burning Mon. Users can currently access the event page to reserve and purchase.
Odaily News: SK Hynix and SanDisk have unveiled the first standard specification for High Bandwidth Flash (HBF), a next-generation storage technology based on NAND flash. SK Hynix presented the specification at FMS 2026, held from August 4 to 6 in Santa Clara, California, USA.HBF stacks NAND flash vertically in a manner similar to High Bandwidth Memory (HBM) to enhance capacity and data transfer speeds. The specification defines two stacked configurations—8-layer and 16-layer NAND dies—with a maximum capacity of 512GB and bandwidth offered in three tiers, supporting 0.4TB to 3.0TB per second.HBF connects to processors using the industry-standard UCIe interface, enabling compatibility with different processor types such as GPUs and CPUs. The specification has been released through the Open Compute Project (OCP), and the HBF Consortium currently includes Google and AI semiconductor company Tenstorrent.SK Hynix will also showcase its in-development 10th-generation (V10) 375-layer 4D NAND wafers and products for the first time at this event, with plans to begin mass production of high-performance, high-capacity enterprise SSDs (eSSD) utilizing this technology early next year.
Y Combinator announced the open-source release of its internal multi-agent framework QM (quartermaster) under the MIT license. QM is designed for organizational collaboration scenarios, runs on Slack and the Web, and can be used for tasks such as searching internal materials, handling emails, managing code repositories, and tracking projects.
Hong Kong-licensed cryptocurrency exchange HashKey Exchange has received approval from JPMorgan to open client fund accounts. HashKey Holdings stated that the account will support client fund segregation and settlement through JPMorgan's banking infrastructure. HashKey Exchange activated a client fund account with Singapore's DBS Bank on June 30, supporting fiat currency deposits, withdrawals, and settlement services. HashKey Holdings merged the previously independent HashKey Exchange and HashKey Global applications into a single entry point one week ago. HashKey Holdings was listed in Hong Kong in December last year, having raised $206 million through an oversubscribed initial public offering.
According to official news, Qwen releases Qwen3.8-Max, 2.4T parameters, weights to be open-sourced next week Alibaba's Qwen officially releases the most powerful model Qwen3.8-Max, with a parameter scale reaching 2.4T. The model's weights will be open-sourced next week. This is the first time Qwen has open-sourced a Max-level model. Also being open-sourced simultaneously is Qwen3.8-27B.
Brian Armstrong stated on the X platform that for years, he has been pushing to modernize outdated and opaque financial systems through cryptocurrency, with permissionless networks helping to advance this process. Now, AI needs a similar shift. He has signed an open letter supporting U.S. AI innovation through open-weight models.
Ethereum Institutional (@ethereuminsti) posted that Open Standard's stablecoin project Open USD will be deployed on Ethereum on its first day of launch, having already attracted over 140 enterprises to join, including Visa, Mastercard, Stripe, BlackRock, BNY, and others. All reserve yields will flow to partners driving its growth. Open Standard stated that shared assets require neutral infrastructure, and Ethereum is the deployment platform it has chosen.
According to the announcement on the CFTC official website, the U.S. Commodity Futures Trading Commission (CFTC) issued a Notice of Proposed Rulemaking (NPRM) on July 30 to solicit public comments on amendments to Parts 37, 38, and 39 of the regulations and sections 1.52 and 1.55, with a comment period of 60 days after publication in the Federal Register. This revision targets the increasingly common affiliations among CFTC-regulated entities, covering market participants including Derivative Clearing Organizations, Designated Contract Markets, Swap Execution Facilities, Futures Commission Merchants, and market makers, with a focus on resolving potential conflicts of interest within vertically integrated market structures. CFTC Chairman Michael S. Selig stated that the proposed rule will establish a principles-based regulatory framework for vertically integrated market structures, maintaining market integrity while avoiding stifling innovative market structures or imposing excessive compliance burdens on registered entities.
Visa CEO Ryan McInerney stated during the earnings call that Visa's role in the stablecoin space is not to pick winners, but to help clients securely and scalably connect to the stablecoin ecosystem.Last month, Visa joined forces with over 140 companies, including Stripe, Mastercard, BlackRock, and Coinbase, to support Open Standard, which plans to launch the stablecoin Open USD (OUSD) later this year. Following the announcement, market speculation arose that OUSD could challenge Tether's USDT and Circle's USDC.When asked whether Visa views OUSD as a competitor to USDT and USDC, McInerney said that Visa will maintain a "multi-currency, multi-chain" strategy going forward and will not bet on a single stablecoin, network, or infrastructure.He stated that Visa's goal is to support clients in accessing the stablecoin ecosystem, regardless of which stablecoin, network, or underlying infrastructure is ultimately adopted.Ark Invest analyzed that Visa is clearly interested in Open USD, but this does not necessarily mean it views OUSD as an exclusive strategic bet. Overall, Visa appears to be keeping its participation open at the stablecoin infrastructure level, rather than directly aligning with a specific stablecoin issuer.
Moonshot AI launches open-source model Kimi K3, scoring 57 points on the Artificial Analysis Intelligence Index, becoming the third highest-scoring model, second only to Anthropic's Claude Opus 5 (61 points), Claude Fable 5 (60 points), and OpenAI's GPT-5.6 Sol (59 points). The index shows that the gap between leading closed-source models and open-weight models has narrowed to 4 points, the smallest gap since the release of GLM-5 in February. This signifies that open-source models are rapidly catching up to closed-source models in performance.
Anthropic CEO Dario Amodei has responded to the controversy over open-weight models, stating that the company has never advocated for a total ban on open models. Previously, companies including OpenAI, Google, and SpaceX joined the open-source coalition, while Anthropic was the only major frontier model company not to sign on.Amodei acknowledged that open-weight models can lower costs, promote competition, and support customer self-deployment. He stated that open models without dangerous capabilities can be considered a "public good."However, he believes that open models are not necessarily safer, nor do defenders necessarily gain more advantages over attackers. Once model weights are made public, security restrictions may be removed and cannot be revoked.Anthropic proposed three alternative measures, including restricting the flow of advanced chips and manufacturing equipment to China, cracking down on industrial-scale model distillation, and requiring all models that reach a certain capability threshold—whether open-source or closed-source—to undergo testing for cyber attacks, biological risks, and alignment.
Moonshot AI released the open-weights model Kimi K3 on Hugging Face. The model is a native multimodal agent model with a total parameter size of 2.8T, adopting a MoE architecture with approximately 104B activated parameters, supporting text and image input, and featuring a 1 million Token context window.
Chinese AI startup Moonshot AI will release the model weights of its high-performance model, Kimi K3. Developers can download the model, modify it for various purposes, and run it in their own data centers or cloud environments.Kimi K3 boasts 2.8 trillion parameters and a 1 million token context window, enabling it to process large-scale documents and codebases in a single pass. Moonshot AI plans to later publish a technical report detailing the model's architecture, training methodology, and performance evaluation results.Following the release of Kimi K3, Moonshot AI's daily revenue is reported to have increased by at least 6 times. The company is reportedly advancing a new round of fundraising at a $50 billion valuation and is considering a Hong Kong listing as early as this year.According to Bloomberg Intelligence, following the release of Kimi K3 and Z.AI's GLM-5.2, the share of Chinese open-weight models in overall token usage has risen to 68%. Services like AWS Bedrock, Microsoft Azure Foundry, and Google Vertex AI currently do not offer Chinese open-weight models such as Kimi K3 and GLM-5.2.
NVIDIA CEO Jensen Huang has published his first post on X, sharing an open letter titled "Open Weight and American AI Leadership," jointly signed by more than 20 technology companies and institutions, including NVIDIA.The open letter argues that open-weight models can expand economic access to AI, enhance market competition, and grant users more control. Signatories include Meta, Microsoft, Andreessen Horowitz, Hugging Face, IBM, Mistral AI, Palantir, Perplexity, Mozilla, Y Combinator, among others.The letter states that while open-weight models carry risks, they should not be restricted through bans. Instead, openness should be leveraged to advance AI safety and cybersecurity capabilities. Huang noted: "The world needs cutting-edge closed-source models, and it also needs cutting-edge open models."
Nick Timiraos, the “Fed Whisperer,” stated on July 23 local time that the Fed’s July policy meeting would become the most unpredictable session in recent years. The resurgence in oil prices, increasing risks associated with US tariff policies, and some officials shifting towards supporting rate hikes have challenged the consensus to keep interest rates unchanged.The market widely expects the Fed to maintain the policy rate at the Federal Open Market Committee (FOMC) meeting on July 28-29, keeping the current rate range at 3.50% to 3.75%. However, the outcome of this meeting does not signify an end to internal disagreements, as some officials are already paving the way for further rate hikes later this year.During previous meetings, there was a clear divide among the Fed’s 18 officials over whether a rate hike was needed this year, with half predicting a hike and the other half seeing no need for adjustment. Jonathan Pingle, chief US economist at UBS, stated that Fed Chairman Kevin Warsh could emerge as a key figure in determining the direction of policy.
According to official announcements, Ondo Perps has now launched a dual reward mechanism: on one hand, traders can share a portion of the USDC reward pool by inviting new users, and their own trading volume also counts towards this reward pool; on the other hand, every trade will also simultaneously earn Ondo Points based on trading volume and Open Interest.
Mizuho analysts stated that if the U.S. crypto market structure bill, the "Clarity Act," is passed, while it may generally benefit the digital asset industry, the long-term impact on Circle could be negative. The reason is that regulatory clarity will attract more large institutions into the stablecoin market, further accelerating stablecoin commodification and eroding the revenue potential of Circle's USDC.Mizuho believes that the primary pressure Circle faces in the near term comes from Open USD. This stablecoin project is backed by a coalition of over 140 financial, technology, and crypto companies, with members including Visa, Mastercard, Stripe, BlackRock, and Coinbase. Unlike Circle's model, which retains approximately 38% of USDC reserve yields, Open USD employs a "pass-through" model, distributing nearly all reserve yields to distribution partners while retaining only a small management fee.Analysts also noted that Coinbase, as the largest distributor of USDC, also supports Open USD. This could give Coinbase stronger bargaining power when renegotiating its revenue-sharing agreement with Circle in the future. The distribution agreement between the two parties could be up for renegotiation as early as next month.
According to Decrypt, Jack Dorsey's payment company Block has officially launched the open-source collaboration platform Buzz, built on the Nostr protocol, enabling employees and AI agents to collaborate within the same workspace. Buzz integrates team chat, code repositories, and automated workflows, where each user and AI agent possesses an independent encrypted identity, supporting mainstream model frameworks such as Claude Code, OpenAI Codex, and Block's self-developed goose, with the code released open-source under the Apache 2.0 license. Jack Dorsey stated that the platform aims to reduce the company's reliance on Slack and GitHub; the current version is 0.4.21, already supporting macOS, Windows, and Linux desktops, while the mobile version is still under development.
AVE has now fully integrated Hyperliquid on-chain contract trading across its mobile app, TG Bot, and PC client, providing users with a more convenient and multi-scenario on-chain contract trading experience.On the occasion of this feature upgrade, AVE is launching the "AVE x Hyperliquid Contract Upgrade Benefits" event, inviting all users to actively participate and share in rewards of up to 12,000U.Event Period: July 16, 2026, 18:00 – July 26, 2026, 23:59 (UTC+8)Two Core Rewards:Open Orders to Share Up to 4,000UUsers who deposit and have a cumulative margin of at least 20 USDT for opening positions will share a 2,000U prize pool. If the number of eligible users exceeds 500, the prize pool doubles to 4,000U.Trading Leaderboard to Share Up to 8,000UUsers with a cumulative trading volume of 20,000U are eligible to participate in the ranking. The top 100 will share the prize pool according to the rules. The base prize pool is 3,000U, increasing with the total trading volume of the event, up to a maximum of 8,000U.Eligible trades will be automatically included in the statistics. Both rewards can be earned simultaneously.Welcome all users to participate in Hyperliquid on-chain contract trading. Trade more, earn more rewards, and collectively unlock a bigger prize pool.Note: This event is subject to the final interpretation rights of Ave.ai. All trading records are uploaded to the blockchain in real-time, ensuring the ranking data is tamper-proof.
: In an interview this week, Circle President Heath Tarbert responded to questions about the stock price falling from $260 to $62, stating that the company is focusing on long-term development. If it can fulfill its mission of building a full-stack internet platform infrastructure, the stock price will ultimately reflect that value in the long run. Addressing the new competition posed by the Open USD Alliance, which consists of 140 companies including Visa, Stripe, Mastercard, and Google, Heath Tarbert noted that USDC, as a stablecoin natively supporting 34 blockchains, has built a network effect with a circulating supply of $73 billion that is extremely difficult to replicate. Discussing the difference in market position compared to Tether, he stated that USDC is the world's largest regulated stablecoin and boasts the highest real transaction volume.