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Pendle co-founder TN and Head of Growth Dan reviewed the developments in the first half of 2026 during the latest community meeting and announced the roadmap for the second half of the year. The team stated that in the first half, Pendle's ecosystem focused on building fixed income infrastructure, with Pendle V2 continuing to solidify its position as an on-chain fixed income protocol, while Boros made initial progress in the on-chain interest rate derivatives market.Data shows that Pendle V2 had an average daily TVL of approximately $1.3 billion in the first half of the year, with 9 out of the 11 major markets on the platform adopting real-world assets (RWA) as collateral, reflecting that institutional funds are continuously flowing into the RWA sector. Additionally, Pendle has launched on the Monad network and within less than a month became one of the top five protocols by TVL on that network, with a locked amount of approximately $150 million. In terms of protocol upgrades, Pendle has completed the migration from vePENDLE to sPENDLE, with about 36% of PENDLE currently staked, of which 93% of stakers have not yet unstaked. The protocol has also utilized revenue to repurchase approximately 2 million PENDLE and significantly reduced weekly liquidity incentives from about 90,000 to 21,000, further enhancing capital efficiency.At the same time, Pendle launched an in-app one-click Loop feature to simplify the operational process of leveraged yield strategies. Another core product, Boros, has surpassed $14 billion in cumulative trading volume within less than a year since its launch, with the number of users increasing by 50% since the beginning of the year. It has also introduced four-legged arbitrage strategies, acceptance of block trades, and a funding rate data dashboard to meet professional trading needs. Looking ahead to the second half of 2026, Pendle will focus on advancing curation infrastructure, allowing external teams to create PT/YT markets, and promoting PT assets as collateral for lending protocols; at the same time, it will collaborate with partners like Morpho to launch Pendle-branded yield vaults, expanding distribution channels for fixed income products. In terms of institutional business, the team is working with several RWA issuers in New York, planning to introduce tokenized ETFs, single bonds, and other on-chain yield products to Pendle, creating a platform for institutional RWA yield discovery and distribution. Boros will shift its strategic focus to cross-exchange funding rate arbitrage, prioritizing services for institutional arbitrageurs, and plans to launch a peer-to-peer acceptance market, funding rate visualization tools, and one-click strategy products for ordinary users, further improving the on-chain interest rate derivatives ecosystem.

According to analysis by XWIN Japan, CryptoQuant data shows that although there are occasional spikes in daily Bitcoin deposits, Binance's 30-day net flow tends to balance out, with withdrawals essentially offsetting deposits. This means that large deposits have not translated into sustained net inflows of funds—incoming BTC is either absorbed by market buying or withdrawn for long-term custody.Analysts point out that neutral or negative net flows typically reflect holding behavior rather than a willingness to sell. Current data suggests that investors may be more inclined to use Binance for liquidity rather than preparing for large-scale sell-offs. Although short-term spikes in deposits may still lead to price volatility, the overall picture does not indicate sustained selling pressure.

Michael Kratsios, the Director of the White House Office of Science and Technology Policy, stated that information has been obtained showing that Moonshot AI is distilling Anthropic's Fable model by building a large-scale internal platform for the development of its K3 model, and has switched access methods multiple times to evade detection. He also pointed out that Moonshot AI has purchased GB300 servers and accessed GB300 equipment in Thailand, which may be used for training AI models. Kratsios stated that the U.S. supports legitimate distillation and open innovation but opposes the theft of U.S. technology through large-scale secret industrial distillation methods. Currently, Moonshot AI has not publicly responded to this.

Tesla's Bitcoin reserves remain unchanged at 11,509 BTC, continuing a status of not buying or selling the cryptocurrency for nearly four years, and accounting for a post-tax impairment loss of $112 million on its digital asset holdings.Bitcoin fell 14% in the second quarter from about $83,000 to $58,000, then rebounded to around $65,840. Tesla's revenue in the second quarter was $28.2 billion, exceeding expectations; adjusted earnings per share were $0.33, below expectations.

Fox Business crypto reporter posted on the X platform stating that the bill outlines the rules for handling digital assets in the event of bankruptcy of exchanges or custodians.The bill helps ensure that customer assets receive the same protection as traditional financial assets and remain the property of the customers, rather than becoming part of the company's bankruptcy estate. This could help prevent a situation similar to FTX from occurring again.

Artificial intelligence company Anthropic announced on Wednesday that it will make an additional donation of $20 million to the bipartisan advocacy organization Public First Action, bringing its total commitment to $40 million. Anthropic stated that the decision for the additional donation stems from the continuous enhancement of AI model capabilities (including its self-developed Mythos model) and the potential risks it brings.Public First Action is a 501(c)(4) nonprofit organization dedicated to public education on AI transparency and safety. The organization is associated with three super political action committees (super PACs) and plans to support candidates advocating for AI safety across both parties. Anthropic emphasized that the donations are solely for supporting Public First Action's policy mission and cannot be used to influence the election of specific candidates.In a statement, Anthropic noted that AI policy decisions will impact various aspects of public life, including the labor market and national security, and the company hopes to promote "flexible regulation" to manage risks while reaping the benefits of AI. Currently, the super PAC "Leading the Future," which advocates for rapid AI development and light regulation, has received significant funding from supporters including OpenAI co-founder Greg Brockman and venture capital firm a16z. As AI increasingly becomes a topic in elections, public education and lobbying efforts by advocacy groups are continuing to ramp up.

According to Bloomberg, Venezuela's largest fintech company Cashea recently completed two rounds of financing totaling $100 million, including a $60 million Series B round led by FinSight Ventures in June this year, and a $40 million Series A round completed in March led by Spice Expeditions, which included $20 million in debt provided by Architect Capital. Several U.S. donor funds and Latin American investment institutions participated.Founded in 2022, Cashea provides "buy now, pay later" services for Venezuelan consumers who have long been credit-constrained. Users can make a down payment via the app or by scanning a code offline and then pay in interest-free installments. The company claims to have processed over 110 million transactions, serving more than 10 million accounts, with partnerships reaching 40,000 merchants. The new funds will be used to expand credit products and support post-disaster reconstruction.

On July 20, the King County Superior Court in Washington State approved the preliminary injunction motion against KalshiEX, LLC (Kalshi), ruling that Kalshi's activities constitute illegal actions in violation of Washington State's gambling laws, and determined that the federal Commodity Exchange Act does not take precedence over state gambling laws.This ruling is an important precedent in the jurisdictional dispute between state regulatory agencies and federal regulatory prediction market platforms, following accusations from the CFTC chairman of illegal enforcement actions by states against federally regulated exchanges. The court made the ruling after reviewing multiple materials, including the oral arguments from July 10. The case number is 26-2-10264-3 SEA.

According to Jinshi reports, Goldman Sachs stated that hedge funds are selling U.S. tech stocks at a record pace.

According to the latest report released by the Financial Action Task Force (FATF), FATF conducted the seventh special assessment of the implementation of Recommendation 15 (R.15) across global jurisdictions. The report indicates that since the last update in 2025, countries have continued to advance in the regulation of virtual assets (VA) and virtual asset service providers (VASP), including conducting risk assessments, improving licensing and registration frameworks, implementing travel rules, and strengthening law enforcement actions.However, the report also points out that significant gaps still exist, mainly reflected in: the difficulty in effectively translating risk assessment results into mitigation measures, insufficient implementation of licensing and registration frameworks, challenges in identifying VASP activity subjects, and inadequate effectiveness of risk-based supervision and law enforcement. In terms of emerging risks, the report focuses on the following areas: the exacerbation of the "industrialization" trend of organized crime groups using virtual assets to commit fraud, the rising risk of stablecoin abuse, risks associated with non-custodial wallet peer-to-peer (P2P) transactions, offshore VASPs operating outside of regulation, and ongoing challenges in the DeFi sector. FATF calls for the public and private sectors to jointly strengthen the implementation of R.15, enhance risk mitigation capabilities, and deepen domestic, international, and public-private cooperation mechanisms.

Cryptocurrency analyst Amr Taha pointed out that the dynamics of the Bitcoin holder community have recently shown a clear divergence, with large whales continuously accumulating, while medium-sized wallets are selling off at an increasingly rapid pace. Specifically, wallets holding 1,000 to 10,000 BTC have seen a net increase of approximately 66,700 BTC over the past 60 days, nearing the level of 68,000 BTC reached on June 16.In contrast, wallets holding 100 to 1,000 BTC have a net sell-off of about 77,800 BTC, marking one of the most aggressive selling periods in the current data. Historical data shows that the behavior of wallets holding 100 to 1,000 BTC aligns with significant short-term market turning points. On April 25, this group had a net increase of over 92,000 BTC. About 10 days later, Bitcoin entered a short-term correction, ultimately declining by approximately -29%. Amr Taha believes that the continued accumulation by large holders will reduce the immediately available supply, especially during periods when smaller groups are actively distributing Bitcoin. While group data alone cannot determine future price trends, the current shift in supply towards large wallets may signal positive indications for Bitcoin in the medium term.

According to SEC Form 4 documents, Circle President and former CFTC Chairman Heath Tarbert has sold CRCL stock a total of 10 times since June 2025, with a total reduction amounting to approximately $30.77 million. Publicly disclosed documents indicate that his transactions mainly involve stock sales and option exercises, and he currently still holds about 503,000 shares of the company, with no records of increased holdings in the open market.Previously, in an interview with FOX Business, Tarbert responded to the drop in CRCL stock price from around $260 to about $62 by stating that the company is focused on long-term development, and mentioned that if Circle can achieve its mission of building internet financial infrastructure, the stock price will ultimately provide the answer (The stock will take care of itself).

According to market news, Goldman Sachs reported on July 18 that the Dark Side of the Moon released the Kimi K3 model, with 28 trillion parameters, surpassing Claude Fable 5 and GPT-5.6 Sol on the Arena.ai programming leaderboard, reaching a new high for Chinese models with an API pricing of $2.3 per million tokens. Two days after the release, Zhiyu fell by 28%, MiniMax dropped by 16%, the Nasdaq 100 index futures fell by more than 1.8%, and the Philadelphia Semiconductor Index has cumulatively dropped by more than 18% from its peak.Goldman Sachs believes that Kimi K3 marks a turning point: a Chinese laboratory that cannot match the largest pre-trained computing power in the West has rapidly narrowed the gap with top American models through architectural innovation and reinforcement learning, proving that "scaling" is no longer the only winning path. Goldman Sachs warns that the "era of computing power expansion" may be coming to an end, and the investment logic for AI infrastructure built around "the more computing power, the better" needs to be rewritten. Goldman Sachs maintains a buy rating on MiniMax and a neutral rating on Zhiyu. Future attention will focus on the intensive release of 20-50 trillion parameter models such as Zhiyu GLM, Alibaba Qwen, and MiniMax M3 Pro.

According to Changxin Technology's announcement, the preliminary offline allocation results and online winning results for the company's initial public offering and listing on the Sci-Tech Innovation Board have been announced. The issuance price is 8.66 yuan per share, with an initial number of shares issued of approximately 6.688 billion shares, and there are a total of 7,702,207 winning numbers. Each winning number can only purchase 500 shares of Changxin Technology A-shares.

According to monitoring by Lookonchain, two newly created wallets sold 72 BTC, worth 4.66 million dollars, and then opened a 20x leveraged long position of 12,000 ETH, worth 22.4 million dollars.

According to Jinshi reports, the United States is preparing to expand its operations against Iran by deploying about 100 refueling aircraft to the Middle East.Israeli defense agencies are preparing for a potential significant escalation in the region.

According to The New York Times, as Robinhood incorporates prediction markets into its app, concerns about the platform potentially exploiting young, inexperienced investors have intensified. Additionally, many still associate Robinhood with the Meme stock craze that swept the market, of which Robinhood was a significant driver.Now, Robinhood hopes that the public sees more than just these labels. The company has become one of the institutions responsible for operating the Trump Accounts program, which gives Robinhood the opportunity to build closer connections with the next generation of investors while further strengthening its ties with Washington.Robinhood CEO Vlad Tenev responded that this move is not intended to encourage speculation but rather to expand financial inclusion and help more American families participate in long-term investing. Currently, Robinhood has adjusted some product designs and is attempting to transition from a "speculative trading platform" to a broader financial services company.

According to a report by Reuters, the French National Gaming Authority (ANJ) has stated that it has requested French internet service providers to block the prediction market platform Polymarket, citing that it promotes illegal betting services, which may lead to significant losses for users, and that some bets may be subject to manipulation risks.Polymarket will remain blocked until it complies with French betting regulations.

According to Jinshi reports, the U.S. military is redeploying forces to the Middle East, with 5 aerial refueling aircraft already heading to Israel, and dozens more reinforcements to follow.