South Korea's KOSPI index turned positive again, following South Korea's finance minister's pledge to ease stock market volatility.

US stocks kicked off August with a strong rally, but JPMorgan warns that the market’s main trend in the second half may no longer be driven solely by AI and large tech stocks. On Monday (Eastern Time), the S&P 500 rose 1.5% to 7600.50 points, just shy of its all-time high; the Dow Jones gained 693 points to notch a new closing peak; the Nasdaq rallied 2.1%. On the surface, tech stocks have reignited risk appetite, but JPMorgan strategist Mislav Matejka’s team believes tech stocks will struggle to replicate last year’s single standout market performance in the second half of 2026. The bank’s concerns center on two fronts: First, AI capital expenditures by hyperscale cloud providers including Microsoft, Meta, Amazon, and Alphabet remain at high levels, and the market is starting to question when these investments will translate into free cash flow; second, AI’s substitution effect on sectors like software, business services, and media is weighing on valuations. Recent market moves have already signaled this shift: In July, chip and AI momentum stocks saw sharp pullbacks, and the Nasdaq at one point significantly underperformed the Dow and equal-weighted indices. Meanwhile, falling oil prices, resilient U.S. economic data, and shifting rate-cut expectations have renewed investor interest in consumer cyclicals, industrials, financials, and non-U.S. stocks. JPMorgan therefore favors a broadening of market leadership, rather than continuing to bet on a small number of AI giants driving index gains.

According to data from the official App Store page, Telegram has been restored to service and is now available for download in the U.S. region. A Telegram spokesperson said the app has been relisted on Apple’s App Store and will soon be accessible to all users. Independent monitoring platform AppleCensorship indicates Telegram is currently available in 172 tested App Store regions. Telegram was previously removed from Apple’s App Store, reportedly due to its founder’s alleged involvement in a terrorism conspiracy.

According to HTX market data, GRAM’s 24-hour decline has narrowed to 1.98%, currently priced at $1.385, with its market capitalization rebounding to $3.77 billion. On the news front, Telegram was previously removed from Apple’s App Store, which caused GRAM to plunge more than 5% in a short period. Later, a Telegram spokesperson stated that the messaging platform has been re-listed on Apple’s App Store and will soon be accessible to all users, leading to a gradual narrowing of GRAM’s decline.

NEAR co-founder and NEAR Foundation CEO Illia Polosukhin has proposed establishing the NEAR Sovereign Fund, which would draw capital from the protocol’s existing and future treasuries plus current and upcoming protocol revenue. The fund would be managed via governance-set parameters to generate NEAR-denominated returns. Per the proposal, the fund will initially launch with the protocol’s current treasury of approximately 30 million NEAR tokens. Protocol revenue will flow into the fund within governance-defined limits and be converted to NEAR; a portion of returns will fund validator support programs, MPC service providers, and other ecosystem public goods. House of Stake representatives can also participate and share returns via existing delegation mechanisms. If the initial phase proves effective, NEAR will gradually allocate more protocol revenue and a portion of token emissions to the fund, while continuing to reward core validators and stakers and reduce actual inflation. Long-term, the fund could cover all network security and public goods costs, creating conditions for NEAR to transition to a fixed token supply. The proposal is currently a discussion draft, not a binding decision. Polosukhin plans to gather feedback from validators, token holders, and community members over the next two weeks before evaluating whether to proceed with launching the fund.

This morning, South Korea’s KOSPI index was weak, while the KOSDAQ index rallied sharply. The Korea Exchange announced that it activated the buy-side circuit breaker (which suspends program trading) on the KOSDAQ market at 10:47:51 Korea Standard Time (09:47 Beijing Time). The KOSDAQ market has triggered the buy-side circuit breaker for three consecutive trading days: on the 31st of last month, yesterday, and today. This marks the 17th activation of the mechanism so far this year, with 12 activations occurring last month alone. Robust institutional buying is driving the index’s gains. On the day, institutional investors net bought 354 billion won on the KOSDAQ market, while individual investors and foreign investors net sold 167 billion won and 183 billion won respectively. Biotech stocks outperformed, with Alteogen surging over 7%; LigaChem Biosciences rose 12.89%, ABL Bio gained 12.25%, HLB climbed 9.55%, Peptron advanced 9.39%, and Sam Chun Dang Pharm increased 6.00%. (Jin10)

This is insane! According to @glxyresearch, the total losses from the #Coldcard hack may have reached 2,055 $BTC($130M). More than 7,700 victim addresses have been affected.