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On July 27, Kimi AI released the model weights and technical report for Kimi K3. The model adopts a 2.8 trillion parameter mixture-of-experts (MoE) architecture, supports native visual understanding capabilities, and has a context window of 1 million tokens. The company stated that Kimi K3 uses a new model architecture, achieving approximately 2.5 times the intelligence improvement per unit of computation compared to simply increasing parameter scale. At the same time, it also open-sourced the related technology stack, including a high-performance Attention kernel, MoE communication library, and infrastructure supporting large-scale agent environments.

[Kimi AI Releases Model Weights and Technical Report for Kimi K3]On July 27, Kimi AI released the model weights and technical report for Kimi K3. The model adopts a 2.8 trillion parameter mixture-of-experts (MoE) architecture, supports native visual understanding capabilities, and has a context window of 1 million tokens. The company stated that Kimi K3 uses a new model architecture, achieving approximately 2.5 times the intelligence improvement per unit of computation compared to simply increasing parameter scale. At the same time, it also open-sourced the related technology stack, including a high-performance Attention kernel, MoE communication library, and infrastructure supporting large-scale agent environments.

Kimi AI Releases Model Weights and Technical Report for Kimi K3

On July 27, U.S. President Donald Trump stated that the U.S. is in deep negotiations with Iran, but the window for talks is limited and Iran will not be given too much time to negotiate. Trump warned that if the negotiations collapse, the U.S. will resume 'tremendous' military action. Trump said that he decided to suspend the attack on Iran because the mediators requested an opportunity for negotiations. At the request of the mediators, I agreed to provide a chance for talks. I believe the Iranians want to reach a deal.

[Trump: Limited Window for Iran Talks; Military Action to Resume if Negotiations Fail]On July 27, U.S. President Donald Trump stated that the U.S. is in deep negotiations with Iran, but the window for talks is limited and Iran will not be given too much time to negotiate. Trump warned that if the negotiations collapse, the U.S. will resume 'tremendous' military action. Trump said that he decided to suspend the attack on Iran because the mediators requested an opportunity for negotiations. At the request of the mediators, I agreed to provide a chance for talks. I believe the Iranians want to reach a deal.

Trump: Limited Window for Iran Talks; Military Action to Resume if Negotiations Fail

On July 27, according to Glassnode's latest “BTC Market Pulse” report, Bitcoin retreated to $64,000 before rebounding to around $65,100, and is currently still in a range-bound consolidation. Declining leverage levels, outflows from regulated investment products, and weak on-chain activity indicate that the market is in a cautious consolidation phase. The report notes that buying momentum in the perpetual contract market has weakened and speculative confidence has declined. Although open interest has increased slightly, long-side funding rates have notably cooled, suggesting that leverage usage is becoming more rational. Options open interest continues to grow, as traders price in higher future uncertainty. Institutional demand has also weakened, with regulated investment products turning to net outflows and weekly trading volumes declining significantly. However, overall institutional positions remain slightly profitable, and valuation metrics are relatively stable. On-chain data shows that the number of active addresses remains stable, but transaction settlement pressure and capital inflows are still low. Long-term holders continue to maintain confidence, supporting market resilience. Glassnode believes that Bitcoin is currently in a calm transitional phase, with selling pressure easing, but participation from spot, derivatives, and institutional channels remains cautious.

[Glassnode: Bitcoin Consolidates in Range, Capital Outflows and Leverage Cooling Reflect Market Caution]On July 27, according to Glassnode's latest “BTC Market Pulse” report, Bitcoin retreated to $64,000 before rebounding to around $65,100, and is currently still in a range-bound consolidation. Declining leverage levels, outflows from regulated investment products, and weak on-chain activity indicate that the market is in a cautious consolidation phase. The report notes that buying momentum in the perpetual contract market has weakened and speculative confidence has declined. Although open interest has increased slightly, long-side funding rates have notably cooled, suggesting that leverage usage is becoming more rational. Options open interest continues to grow, as traders price in higher future uncertainty. Institutional demand has also weakened, with regulated investment products turning to net outflows and weekly trading volumes declining significantly. However, overall institutional positions remain slightly profitable, and valuation metrics are relatively stable. On-chain data shows that the number of active addresses remains stable, but transaction settlement pressure and capital inflows are still low. Long-term holders continue to maintain confidence, supporting market resilience. Glassnode believes that Bitcoin is currently in a calm transitional phase, with selling pressure easing, but participation from spot, derivatives, and institutional channels remains cautious.

Glassnode: Bitcoin Consolidates in Range, Capital Outflows and Leverage Cooling Reflect Market Caution

On July 27, the Nasdaq Composite Index fell below the 25,000-point mark, last trading at 24,861.26 points, down 0.46% on the day; it set a new intraday low since May. NVIDIA's losses widened to 5%, with the stock priced at $195.92 per share.

[Nasdaq Composite Falls Below 25,000 Points, Hits New Intraday Low Since May]On July 27, the Nasdaq Composite Index fell below the 25,000-point mark, last trading at 24,861.26 points, down 0.46% on the day; it set a new intraday low since May. NVIDIA's losses widened to 5%, with the stock priced at $195.92 per share.

Nasdaq Composite Falls Below 25,000 Points, Hits New Intraday Low Since May

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

The cryptocurrency derivatives exchange WEEX announced that it has obtained the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) license, with a registration number of 2824. It is reported that this license is a legal operating license for digital currencies that is recognized and regulated by the local government. The license holder can legally engage in mining, opening exchanges, and other businesses. Previously, the exchange had obtained regulatory licenses from the US MSB and Canadian MSB.&nbsp;

[Crypto Derivatives Exchange WEEX Announces Obtaining SVGFSA License]The cryptocurrency derivatives exchange WEEX announced that it has obtained the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) license, with a registration number of 2824. It is reported that this license is a legal operating license for digital currencies that is recognized and regulated by the local government. The license holder can legally engage in mining, opening exchanges, and other businesses. Previously, the exchange had obtained regulatory licenses from the US MSB and Canadian MSB.&nbsp;

Crypto Derivatives Exchange WEEX Announces Obtaining SVGFSA License

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?

2 Months, Valuation Soars from $8.8B to $68B! The Largest AI Model Hub OpenRouter May Be Acquired

Crypto Derivatives Exchange WEEX Announces Obtaining SVGFSA License

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