MiniMax Founder: Will No Longer Draw a Salary, Allocates 5% of Personal Company Shares for Team Incentives and Open-Source Support

According to Bitget market data, Hong Kong-listed MINIMAX-W (00100.HK) fell more than 10%. The company has completed a new round of financing totaling HKD 16 billion.

Zcash core developer Sean Bowe announced on X that the activation block height for Zcash’s Ironwood mainnet has been confirmed and marked. All major Zcash stakeholders have committed to activating the NU6.3 upgrade at block height 3,428,143, scheduled for 8 PM Beijing time on July 28. As previously reported, the upgrade addresses an Orchard pool vulnerability that could allow attackers to mint unlimited fake ZEC. Due to the Orchard pool’s privacy properties, the team cannot verify if any fraudulent ZEC was minted before the fix. The Ironwood upgrade includes two core measures: first, a new privacy pool using the Orchard protocol will be introduced, with the old pool phased out; second, a control flag will be added to zero-knowledge proof circuits, which when enabled disables transfers to other pool users while retaining change functionality.

According to Changxin Technology's IPO prospectus, China International Capital Corporation (CICC) and China Securities Construction Investment Co., Ltd. act as joint sponsors and lead underwriters for the IPO, while Guotai Junan Securities, Haitong Securities, Guoyuan Securities, Huatai United Securities, and China Merchants Securities serve as joint lead underwriters, forming a six-member underwriting syndicate. The underwriting fee totals around 184 million yuan, equivalent to a 0.6% rate, which is below market expectations. Multiple underwriters are also shareholders of the company, reflecting that securities firms' services for hard tech enterprises are transitioning from a "fee-based" model to an "asset-based" one, as equity investment returns may far exceed underwriting income.

Bitwise releases its third-quarter 2026 crypto market review report. The report shows that in the second quarter, the Bitwise 10 Large-Cap Crypto Index fell 15.4%, with 8 of its 10 constituent tokens declining; spot Bitcoin ETFs recorded their worst quarterly outflows. On-chain activity, trading volume and DeFi assets all declined, the correlation between the crypto market and equities rose, and the sector notched a third consecutive quarter of negative returns, marking its longest stretch of quarterly losses since 2022. However, the report also highlights several bright spots: prediction market trading volume reached $43.2 billion, surging nearly 18 times year-over-year; tokenized real-world assets (RWA) grew 50.3% this year to $32.89 billion; the Bitwise Crypto Innovators 30 Index rose 30.6%; stablecoin settlement volume was 2.3 times that of Visa, with U.S. Treasury holdings exceeding those of most countries; Hyperliquid, PancakeSwap and Aave each generated roughly $900 million in revenue over the past year. Bitwise stated that compared to the 2022 bear market bottom, Ethereum transaction activity has grown about 13 times, DeFi total value locked (TVL) has risen more than 60%, and stablecoin assets under management (AUM) have roughly doubled—only prices have failed to keep pace. Prices reflect bear market valuations, but the industry’s size is now twice that of the last cycle’s bottom: liquidity is deeper, fundamentals are stronger, and Wall Street has entered the on-chain space.

According to HTX market data, Bitcoin briefly broke through the $64,000 threshold and is currently trading at $63,953, with a 24-hour gain of 3.58%.

The Ethereum Foundation’s Protocol Support Team (EF Protocol Support) announced on X that the team has been disbanded. The group was primarily responsible for coordinating Ethereum protocol development, including organizing and coordinating core developer meetings, tracking Ethereum network upgrades, supporting EIP advancement, and operating the Ethereum protocol.