Suspected Sonic Labs-Related Address Transfers 11.78 Million S Tokens to Binance, Valued at Approximately $5.55 Million

Zhu Su, co-founder of Three Arrows Capital, posted an article stating that oil might be the best analogy for AI. Both exist in various forms but will eventually become commoditized; both require large-scale, often state-backed capital to drive their development. The benefits they generate will be widely shared across society, while also bringing external negative impacts that need proper management: for oil, it is environmental pollution; for AI, these could include energy consumption, job displacement, and other social risks.

According to an official announcement, Binance will stop supporting the mainnets of Moonriver (MOVR) and Moonbeam (GLMR), and will enable deposits and withdrawals for these tokens via the Base network.

According to Bitget market data, China's A-share-listed Jiuan Medical saw its stock stage four consecutive daily limit boards in five trading sessions before a failed limit-up, and is currently up 5.51%. Previous reports noted that Jiuan Hong Kong indirectly invested 750 million yuan in DeepSeek via Tianjin Shixiang. After the deal closed, its penetrating shareholding is approximately 0.21%, and it does not participate in operations. In August 2023 and March 2024, entities under Jiuan Medical made two separate investments in Moonshot AI, amounting to roughly $10 million and $20 million respectively. In June 2026, the company further invested 100 million yuan in StepOne AI indirectly via Haitang Tonghui Fund.

According to Hyperinsight monitoring, ZHIPU on Hyperliquid plummeted before Hong Kong stock market opening. Within about an hour, it hit a low of $120.7, down roughly 17%; the decline continued during Hong Kong trading hours. On the news front, ZHIPU completed the placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released the 2.8-trillion-parameter open-source model Kimi K3, intensifying market concerns over China’s large language model competitive landscape, leading ZHIPU’s Hong Kong-listed shares to drop 28.49% that day. No new company-specific negative news has been identified as of press time. The sharp price drop has further hit ZHIPU’s largest long position holder: a whale wallet starting with 0xddb. The whale currently holds 7,300 contracts with 10x isolated long leverage, with a position value of approximately $905,000, average entry price of $174.2, and liquidation price of around $78.3. It has an unrealized loss of about $367,000, a return rate of -288.2%, equivalent to 2.88 times its initial position cost of $127,000. The whale first opened a long position near $198.45 on the evening of July 6 and has not sold since; at 10:12 today, it added 409.1 contracts against the trend at $129.6. - HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain information.

The State Council Information Office held a press conference to brief on the development of industry and information technology in the first half of 2026. Xie Cun, spokesperson of the Ministry of Industry and Information Technology (MIIT) and Director-General of the Department of Information and Communication Development, stated that over the past two years, more than 70 major computing power corridors have been built around national computing power hub nodes, with network performance between these hub nodes improved by 10%. The current explosive growth of large AI models and agent applications has driven a continuous rise in demand for intelligent computing power. Going forward, the MIIT will continue to follow the systematic work approach of "point, chain, network, dimension, and system" to optimize the deployment of computing infrastructure resources, build interconnected computing power nodes, and enhance the utilization efficiency of computing power resources. In terms of focusing on key points, the MIIT will optimize the deployment of computing power resource supply, coordinate factors such as industrial development and energy supply, promote the construction of intelligent computing clusters and the coordinated development of computing power and electricity, build a tiered computing power layout, and strengthen overall monitoring of computing power. Additionally, it will issue guidelines for the construction of a computing power standard system, and promote the establishment of standards including computing power service capability evaluation and market-based pricing for computing power.

Moody's Analytics noted in a report that South Korea's second-quarter economic growth is likely to slow to 0.9% from 1.8% in the first quarter. Driven by an AI-fueled semiconductor boom, exports—especially semiconductor shipments—will again act as the key growth driver. South Korea's domestic demand is projected to stay weak, with consumption seeing only a marginal improvement. High energy costs have amplified inflationary pressures, while government measures can only partially ease the strain. South Korea's preliminary second-quarter GDP figure will be released on Thursday.