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According to monitoring by Dongcha Beating, Moonshot AI has officially open-sourced the Kimi K3 model weights, adopting a custom Kimi K3 License that permits research, deployment, fine-tuning, and secondary development. For model API service providers with annual revenues exceeding $20 million, commercial use requires a separate business agreement with Moonshot AI. Early integration efforts around K3 have already begun. Modal, Together AI, Nebius, GMI Cloud, Baseten, and Fireworks AI have all previewed that they will offer hosting or inference services on the day of the weight release. The two major open-source inference frameworks, vLLM and SGLang, have also provided day-one support. Developers can deploy the weights directly upon receipt, without waiting for framework adaptation. Subsequent optimizations will focus on the operational efficiency of long contexts, high throughput, and KDA linear attention.

[Kimi K3 Officially Open-Sourced]According to monitoring by Dongcha Beating, Moonshot AI has officially open-sourced the Kimi K3 model weights, adopting a custom Kimi K3 License that permits research, deployment, fine-tuning, and secondary development. For model API service providers with annual revenues exceeding $20 million, commercial use requires a separate business agreement with Moonshot AI. Early integration efforts around K3 have already begun. Modal, Together AI, Nebius, GMI Cloud, Baseten, and Fireworks AI have all previewed that they will offer hosting or inference services on the day of the weight release. The two major open-source inference frameworks, vLLM and SGLang, have also provided day-one support. Developers can deploy the weights directly upon receipt, without waiting for framework adaptation. Subsequent optimizations will focus on the operational efficiency of long contexts, high throughput, and KDA linear attention.

Kimi K3 Officially Open-Sourced

On July 27, the Hyperliquid Policy Center (HPC) and Multicoin Capital jointly submitted comments to the U.S. Commodity Futures Trading Commission (CFTC) in support of its proposed regulatory framework for prediction markets. The two parties stated that prediction markets have reached significant scale, with trading volumes exceeding $50 billion on major platforms in June. HPC and Multicoin believe that prediction markets should be uniformly regulated by the CFTC to avoid fragmented oversight from various state gambling regulations. They proposed three recommendations: establish clear regulatory rules to reduce market uncertainty; confirm the CFTC as the sole federal regulatory authority for prediction markets; and publicly disclose contract review decisions and related rationale to enhance market transparency. Additionally, Hyperliquid indicated its support for outcome-based contracts, which are fundamental components of on-chain prediction markets. This related market launched in May and has recently seen its open interest reach an all-time high. Both parties believe that a technology-neutral and unified federal regulatory framework will promote the healthy development of on-chain prediction markets and derivatives markets.

[Hyperliquid Policy Center and Multicoin Support CFTC's Regulatory Framework for Prediction Markets]On July 27, the Hyperliquid Policy Center (HPC) and Multicoin Capital jointly submitted comments to the U.S. Commodity Futures Trading Commission (CFTC) in support of its proposed regulatory framework for prediction markets. The two parties stated that prediction markets have reached significant scale, with trading volumes exceeding $50 billion on major platforms in June. HPC and Multicoin believe that prediction markets should be uniformly regulated by the CFTC to avoid fragmented oversight from various state gambling regulations. They proposed three recommendations: establish clear regulatory rules to reduce market uncertainty; confirm the CFTC as the sole federal regulatory authority for prediction markets; and publicly disclose contract review decisions and related rationale to enhance market transparency. Additionally, Hyperliquid indicated its support for outcome-based contracts, which are fundamental components of on-chain prediction markets. This related market launched in May and has recently seen its open interest reach an all-time high. Both parties believe that a technology-neutral and unified federal regulatory framework will promote the healthy development of on-chain prediction markets and derivatives markets.

Hyperliquid Policy Center and Multicoin Support CFTC's Regulatory Framework for Prediction Markets

On July 27, ASML and BESI, listed in Amsterdam, resumed trading with declines between 7.4% and 8%, having previously hit their lower limits. The German semiconductor sector also saw a downturn, with Infineon dropping about 3% and Siltronic AG falling approximately 4%. According to The Information, citing informed sources, a company supported by Chinese state capital has begun mass production of domestically developed DUV (Deep Ultraviolet) lithography equipment, marking significant progress in the localization efforts of China's semiconductor industry.

[ASML and BESI Resume Trading, German Semiconductor Sector Declines, Infineon Falls About 3%]On July 27, ASML and BESI, listed in Amsterdam, resumed trading with declines between 7.4% and 8%, having previously hit their lower limits. The German semiconductor sector also saw a downturn, with Infineon dropping about 3% and Siltronic AG falling approximately 4%. According to The Information, citing informed sources, a company supported by Chinese state capital has begun mass production of domestically developed DUV (Deep Ultraviolet) lithography equipment, marking significant progress in the localization efforts of China's semiconductor industry.

ASML and BESI Resume Trading, German Semiconductor Sector Declines, Infineon Falls About 3%

On July 27, U.S. President Trump stated that we are engaged in deep negotiations with Iran, and the window for negotiations is limited, as we will not give Iran too much time to negotiate. Trump warned that if the talks fail, the U.S. will resume 'massive' military actions. He mentioned that he decided to pause attacks on Iran at the request of mediators to give negotiations a chance. At the request of the mediators, I agreed to provide an opportunity for talks. I believe the Iranians want to reach an agreement.

[Trump: Limited Negotiation Window with Iran, Military Action to Resume if Talks Fail]On July 27, U.S. President Trump stated that we are engaged in deep negotiations with Iran, and the window for negotiations is limited, as we will not give Iran too much time to negotiate. Trump warned that if the talks fail, the U.S. will resume 'massive' military actions. He mentioned that he decided to pause attacks on Iran at the request of mediators to give negotiations a chance. At the request of the mediators, I agreed to provide an opportunity for talks. I believe the Iranians want to reach an agreement.

Trump: Limited Negotiation Window with Iran, Military Action to Resume if Talks Fail

On July 27, The Information reported, citing informed sources, that a state-owned enterprise based in Shanghai has begun mass production of self-developed DUV (Deep Ultraviolet) lithography manufacturing equipment. This marks an important advancement in China's semiconductor industry's push for domestic substitution. The company plans to produce approximately 5 DUV lithography machines by 2026 and expand to about 20 machines by 2027. Although there remains a gap compared to Dutch lithography giant ASML (which delivered 131 immersion DUV lithography systems last year), the mass production of domestic DUV equipment signifies further progress towards a self-controlled chip manufacturing supply chain in China. Sources indicate that these domestic DUV lithography machines are planned for delivery to major Chinese chip manufacturers, including SMIC, Hua Hong Semiconductor, and memory chip maker Changxin Memory. As a representative enterprise of China's DRAM industry, Changxin Memory is expected to become a key application partner for domestically produced advanced semiconductor manufacturing equipment. If domestic DUV equipment can achieve stable operation in the production lines of companies like Changxin Memory, it will further reduce the Chinese memory chip industry's reliance on overseas critical equipment. As of the time of publication, Yudu Semiconductor, SMIC, Hua Hong, and Changxin Memory had not responded to requests for comment.

[State-Owned Enterprise Begins Mass Production of Self-Developed DUV Lithography Equipment, Changxin Memory May Be Among First Customers]On July 27, The Information reported, citing informed sources, that a state-owned enterprise based in Shanghai has begun mass production of self-developed DUV (Deep Ultraviolet) lithography manufacturing equipment. This marks an important advancement in China's semiconductor industry's push for domestic substitution. The company plans to produce approximately 5 DUV lithography machines by 2026 and expand to about 20 machines by 2027. Although there remains a gap compared to Dutch lithography giant ASML (which delivered 131 immersion DUV lithography systems last year), the mass production of domestic DUV equipment signifies further progress towards a self-controlled chip manufacturing supply chain in China. Sources indicate that these domestic DUV lithography machines are planned for delivery to major Chinese chip manufacturers, including SMIC, Hua Hong Semiconductor, and memory chip maker Changxin Memory. As a representative enterprise of China's DRAM industry, Changxin Memory is expected to become a key application partner for domestically produced advanced semiconductor manufacturing equipment. If domestic DUV equipment can achieve stable operation in the production lines of companies like Changxin Memory, it will further reduce the Chinese memory chip industry's reliance on overseas critical equipment. As of the time of publication, Yudu Semiconductor, SMIC, Hua Hong, and Changxin Memory had not responded to requests for comment.

State-Owned Enterprise Begins Mass Production of Self-Developed DUV Lithography Equipment, Changxin Memory May Be Among First Customers

On July 27, Citi's strategy team warned that as expectations for Federal Reserve interest rate hikes increase, small-cap stocks may become a "disaster zone" during market adjustments. With the new Fed Chair Kevin Warsh adopting a hawkish policy style, the market is shifting from relying on forward guidance to focusing on economic data. Currently, the market's expectations for a rate hike this week have risen to over 30%. Stuart Kaiser, head of U.S. equity trading strategy at Citi, stated that even if rates remain unchanged this week, the probability of a hike in September is still as high as 70%. Citi recommends that investors hedge risks by buying put options on the Russell 2000 Index ETF (IWM). Citi believes that small-cap stocks are more sensitive to interest rates, economic growth, and credit conditions, and under hawkish signals from the Fed, the Russell 2000 Index may face greater pressure than larger tech stocks. Meanwhile, Goldman Sachs data shows that hedge funds are increasing their positions in the healthcare sector, with related funds performing strongly recently. From August 2025 to April 2026, healthcare-focused hedge funds have an average return of nearly 40%, significantly higher than general equity funds. Factors such as AI-driven new drug development, increased mergers and acquisitions in the healthcare industry, and improved FDA approval efficiency are considered important reasons for the influx of capital. This week, market focus remains on the Fed's interest rate meeting and earnings reports from large tech companies. Citi points out that the current market has very high performance expectations; even if corporate earnings exceed expectations, individual stocks may still decline due to "profit-taking."

[Citi Warns of Rising Rate Hike Risks: Small Caps May Become Next Sell-Off Target]On July 27, Citi's strategy team warned that as expectations for Federal Reserve interest rate hikes increase, small-cap stocks may become a "disaster zone" during market adjustments. With the new Fed Chair Kevin Warsh adopting a hawkish policy style, the market is shifting from relying on forward guidance to focusing on economic data. Currently, the market's expectations for a rate hike this week have risen to over 30%. Stuart Kaiser, head of U.S. equity trading strategy at Citi, stated that even if rates remain unchanged this week, the probability of a hike in September is still as high as 70%. Citi recommends that investors hedge risks by buying put options on the Russell 2000 Index ETF (IWM). Citi believes that small-cap stocks are more sensitive to interest rates, economic growth, and credit conditions, and under hawkish signals from the Fed, the Russell 2000 Index may face greater pressure than larger tech stocks. Meanwhile, Goldman Sachs data shows that hedge funds are increasing their positions in the healthcare sector, with related funds performing strongly recently. From August 2025 to April 2026, healthcare-focused hedge funds have an average return of nearly 40%, significantly higher than general equity funds. Factors such as AI-driven new drug development, increased mergers and acquisitions in the healthcare industry, and improved FDA approval efficiency are considered important reasons for the influx of capital. This week, market focus remains on the Fed's interest rate meeting and earnings reports from large tech companies. Citi points out that the current market has very high performance expectations; even if corporate earnings exceed expectations, individual stocks may still decline due to "profit-taking."

Citi Warns of Rising Rate Hike Risks: Small Caps May Become Next Sell-Off Target

On July 27, CME officially launched single stock futures in the U.S., covering 55 companies including SpaceX, and offering standard contracts for 100 shares and micro contracts for 10 shares. The contracts are cash-settled and nearly available for all-day trading, allowing investors to establish long, short, or hedging positions without borrowing stocks. For SpaceX, this will not change the company's fundamentals but will introduce new pricing channels, with expectations during pre-market, after-hours, and significant news periods being reflected more quickly in futures prices. After its listing, SpaceX has a limited float, and its stock price has significantly retreated from its peak. Ortex estimates that about 56% of the freely traded shares are on loan, and short positions continue to increase. The company's first post-listing financial report is scheduled for August 4, after which it will face a share lock-up expiration window. Therefore, the significance of the first day of single stock futures is not to provide new conclusions on price movements but to facilitate easier entry for short sellers, hedgers, and leveraged funds, potentially amplifying short-term volatility between spot prices, futures, and earnings expectations.

[SpaceX's Value Halved, CME Launches Single Stock Futures Marking the 'Leverage Betting Era']On July 27, CME officially launched single stock futures in the U.S., covering 55 companies including SpaceX, and offering standard contracts for 100 shares and micro contracts for 10 shares. The contracts are cash-settled and nearly available for all-day trading, allowing investors to establish long, short, or hedging positions without borrowing stocks. For SpaceX, this will not change the company's fundamentals but will introduce new pricing channels, with expectations during pre-market, after-hours, and significant news periods being reflected more quickly in futures prices. After its listing, SpaceX has a limited float, and its stock price has significantly retreated from its peak. Ortex estimates that about 56% of the freely traded shares are on loan, and short positions continue to increase. The company's first post-listing financial report is scheduled for August 4, after which it will face a share lock-up expiration window. Therefore, the significance of the first day of single stock futures is not to provide new conclusions on price movements but to facilitate easier entry for short sellers, hedgers, and leveraged funds, potentially amplifying short-term volatility between spot prices, futures, and earnings expectations.

SpaceX's Value Halved, CME Launches Single Stock Futures Marking the 'Leverage Betting Era'

On July 27, the ETH/BTC trading pair recently rose to a nearly 3-month high, indicating that Ethereum's performance relative to Bitcoin is improving. The ETH/BTC exchange rate measures the strength of ETH against BTC, rather than its performance in USD. Data shows that the ETH/BTC rate had cumulatively dropped by about 80% from 2021 to 2025, remaining in a weak position for a long time. With the recent rebound of ETH/BTC, the market is beginning to focus on whether Ethereum is experiencing a recovery trend relative to Bitcoin. Analysts point out that the rise of ETH/BTC typically reflects an increase in risk appetite among investors and an improvement in market expectations regarding the Ethereum ecosystem, application demand, and future growth.

[ETH/BTC Exchange Rate Hits 3-Month High, Ethereum Shows Improved Performance Against Bitcoin]On July 27, the ETH/BTC trading pair recently rose to a nearly 3-month high, indicating that Ethereum's performance relative to Bitcoin is improving. The ETH/BTC exchange rate measures the strength of ETH against BTC, rather than its performance in USD. Data shows that the ETH/BTC rate had cumulatively dropped by about 80% from 2021 to 2025, remaining in a weak position for a long time. With the recent rebound of ETH/BTC, the market is beginning to focus on whether Ethereum is experiencing a recovery trend relative to Bitcoin. Analysts point out that the rise of ETH/BTC typically reflects an increase in risk appetite among investors and an improvement in market expectations regarding the Ethereum ecosystem, application demand, and future growth.

ETH/BTC Exchange Rate Hits 3-Month High, Ethereum Shows Improved Performance Against Bitcoin

On July 27, ASML and Besi Semiconductor, listed in Amsterdam, were automatically suspended from trading after their stocks fell by 8% to 8.7%. According to The Information, citing informed sources, a state-owned enterprise in China has begun mass production of domestically developed DUV (Deep Ultraviolet) lithography equipment, marking a significant advancement in the country's semiconductor industry's push for domestic substitution. The company plans to produce about five DUV lithography machines by 2026 and expand to approximately 20 machines by 2027. Although there remains a gap in capacity compared to Dutch lithography giant ASML (which delivered 131 immersion DUV lithography systems last year), the breakthrough in mass production of domestic DUV equipment signifies further progress towards a self-controlled chip manufacturing supply chain in China. Sources indicate that these domestic DUV lithography machines are planned for delivery to major Chinese chip manufacturers, including SMIC, Hua Hong Semiconductor, and memory chip maker Changxin Storage.

[ASML and Besi Semiconductor Stocks Plummet as China Begins Mass Production of Domestic DUV Lithography Machines]On July 27, ASML and Besi Semiconductor, listed in Amsterdam, were automatically suspended from trading after their stocks fell by 8% to 8.7%. According to The Information, citing informed sources, a state-owned enterprise in China has begun mass production of domestically developed DUV (Deep Ultraviolet) lithography equipment, marking a significant advancement in the country's semiconductor industry's push for domestic substitution. The company plans to produce about five DUV lithography machines by 2026 and expand to approximately 20 machines by 2027. Although there remains a gap in capacity compared to Dutch lithography giant ASML (which delivered 131 immersion DUV lithography systems last year), the breakthrough in mass production of domestic DUV equipment signifies further progress towards a self-controlled chip manufacturing supply chain in China. Sources indicate that these domestic DUV lithography machines are planned for delivery to major Chinese chip manufacturers, including SMIC, Hua Hong Semiconductor, and memory chip maker Changxin Storage.

ASML and Besi Semiconductor Stocks Plummet as China Begins Mass Production of Domestic DUV Lithography Machines

HTX data monitoring shows that AAVE has surpassed 100 USDT, currently reported at 100.08 USDT, with a 24H increase of 9.30%.

【AAVE breaks 100 USDT】HTX data monitoring shows that AAVE has surpassed 100 USDT, currently reported at 100.08 USDT, with a 24H increase of 9.30%.

AAVE breaks 100 USDT

NFTs That Can Earn Stock Tokens? What Exactly is StonkBrokers?

Zhongji Innolight Leads Investment in a Tsinghua '90s Postgraduate

Trump Relents on Ethics Provisions, 《CLARITY Act》 Makes Final Push Before Senate Recess

Gate Research Institute: The 'Wall Street-ization' Wave of Crypto Financial Products – Competition or Integration?

BIT Trading Moment: BTC Still Suppressed by Weekly 200 EMA, Rejection May Restart Decline; Storage and Semiconductors that Surged Last Night Begin Falling in Evening Trading

BUILDon loses 15% as Futures activity cools down — Another decline incoming?

From OpenSea to OpenRouter: Is Alex Atallah Repeating His 'Exit at the Peak' Playbook?

AAVE breaks 100 USDT

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