The US Treasury Department Meets with Three Crypto Companies to Discuss Bitcoin Reserve Custody Solution

Base-based meme token Brain (dubbed "Coinbase Man") briefly hit a market capitalization of $30 million, marking an all-time high, before pulling back to around $20.14 million. The token has posted a 24-hour price surge of over 3800%, with 24-hour trading volume standing at roughly $29.5 million. Built on Base’s Beryl upgrade, Brain uses the network’s native B20 token standard, and its name derives from Coinbase CEO Brian Armstrong. The main catalyst for the token’s rising popularity is Armstrong’s recent update to his X profile picture, which closely matches Brain’s token icon—sparking community speculation and fueling rapid trading activity. Currently, Brain has around 8,850 holding addresses, with the top 10 holders accounting for approximately 12.68% of its total supply, and liquidity of roughly $568,000. BlockBeats warns that meme coins are highly volatile, driven primarily by market sentiment, community hype and narratives, and lack stable fundamental support, urging investors to exercise caution.

TD Cowen raises its price target for TSMC (TSM.N) from $400 to $440.

JPMorgan Chase has cut IBM (IBM.N) price target from $291 to $250.

Bank of America’s July Global Fund Manager Survey shows investors hold conflicting views on AI semiconductor trades: most have not yet bet the cycle is ending, but a growing number see the trade as overcrowded. The survey found 82% of participating fund managers view "going long on global semiconductors" as the world’s most crowded trade, a new record. Meanwhile, allocations to tech stocks fell from a net 26% overweight to a net 18% overweight, indicating investors are trimming some long positions but not yet turning bearish. The survey also showed 61% of investors do not expect hyperscalers to announce capital expenditure cuts this year. BofA’s survey further noted that an AI bubble has become one of the largest tail risks, with the share of respondents citing it rising from 28% in June to 45% in July. However, only a portion of investors believe AI stocks are already in a bubble phase; most still view them as being in a "boom phase" — where momentum continues to attract capital inflows, though position and valuation risks are rising. The survey was conducted from July 2 to July 9, covering 210 fund managers who collectively oversee approximately $555 billion in assets.

，今日中国国家发改委发布人工智能合作发展行动计划，其中提到，推进数据跨境流动，在部分领域建设运营跨境可信数据空间，促进高效、便利、安全的数据跨境流动。协同构建高质量语料库和行业高质量数据集，推动多语种语料共建共享，为全球人工智能创新筑牢坚实基础。推动智能算力设施联通。面向发展中国家提供普惠智算服务。联合建设绿色能源驱动基础设施，推动智算设施绿色低碳发展，为全球人工智能可持续发展提供算力支撑。鼓励共建国际人工智能开源社区，开展开源社区国际交流与合作，推动通用大模型、基础算法、工具组件共享。协同制定开源合规体系与安全准则。支持各国基于开源模型开展本土化创新，构建开放共享、安全有序、协同共治的全球人工智能开源生态等。

Chinese President Xi Jinping attended the opening ceremony of the 2026 World Artificial Intelligence Conference and High-Level Conference on Global Governance of Artificial Intelligence, delivering a keynote speech in which he cited the Chinese saying: "A single string cannot make music, nor can a single tree form a forest." He noted that AI development should not be a solo performance by one country, but a symphony of global cooperation, and called for open source, openness, cooperation and sharing to enable all industries to leverage AI. Xi also stressed the need to ensure AI remains under human control, urging countries to establish legal and regulatory frameworks, technical monitoring mechanisms, risk early warning systems and emergency response systems to prevent AI abuse. He further opposed the overgeneralization of the national security concept and the practice of prioritizing one’s own country’s security over that of others, adding that AI should not undermine the cultural identities of various countries or the diversity of world civilizations. China will cooperate with Asian, African, Latin American and BRICS nations to help developing countries build AI capabilities and avoid AI-driven new global inequalities. The China-US AI competition is expanding from chips and models to open source paths and global rule-setting.