Grayscale adjusts its crypto fund holdings in Q2: GSC Fund increases BNB holdings, AI Fund removes NEAR, DeFi Fund sells UNI.

Glassnode noted in a post that Bitcoin has rebounded sharply, approaching $80,000 again, with the options market also starting to send more positive signals. Bitcoin’s open interest (OI) in options has risen in tandem with its price, now nearing 550,000 BTC, indicating a notable recovery in derivatives market capital and participation. Meanwhile, DVOL has surged to around 41, signaling renewed market demand for volatility, though it remains well below the earlier high volatility range of 50 to over 60, meaning the overall market has not yet entered an extreme state. Looking at the options structure, the 25 Delta Skew has narrowed significantly across all maturities, with short-dated skew even turning negative, indicating that market demand for downside protection is declining and positions are gradually shifting toward a more balanced or bullish bias. After Bitcoin broke through $70,000, it has now entered a dense Gamma zone between $75,000 and $80,000, with long and short option exposures concentrated near key strike prices. As positions continue to adjust, this could further amplify the price’s sensitivity to changes in the options market. Recent options flows have been concentrated near $72,500 and $79,250, with significant call option buying at both strike prices, while put option demand remains relatively limited, showing traders are betting on further upside for Bitcoin. Overall, Bitcoin’s rebound has driven continuous repair of options market positions, with downside protection demand falling and call option flows strengthening. While volatility has rebounded, it remains at a relatively moderate level; if upward momentum persists, the options market still has room for further repricing.

The U.S. Securities and Exchange Commission (SEC) announced it has filed lawsuits against 38 entities, accusing them of making material false statements in their Form ADV submissions between 2025 and 2026, attempting to pass themselves off as legitimate U.S. investment advisory firms to gain retail investors’ trust and conduct fraudulent inducement. The SEC said these entities are suspected of fabricating office addresses, providing invalid phone numbers or those linked to unrelated companies, and using highly similar ownership structures and financial data. Some entities also claimed their managed private funds had been audited by accounting firms, but the relevant firms could not be found in U.S. federal or state public accounting agency registries. Additionally, some firms displayed forged SEC registration certificates on their websites to create the illusion of being regulated. The SEC noted that some of the involved entities accessed the SEC’s filing system via overseas IP addresses and refused to provide relevant records to verify the authenticity of their filings. Currently, the ERA filings of the 38 involved entities have been removed from the SEC’s official website. The SEC is charging these entities with violating relevant provisions of the Investment Advisers Act of 1940, and is seeking penalties including permanent injunctions, barring them from continuing to submit Form ADV as exempt reporting advisors, and civil monetary fines.

Dong察 Beating AI News Flash: OpenAI has updated ChatGPT's temporary chats. Users can now choose to let these temporary chats access existing memories, custom instructions, and plugins, and also save useful conversations directly to their chat history. By default, temporary chats still do not generate new memories and will not appear in the chat list. Only when users manually save them will temporary chats be converted into regular chats.

Beating AI News Brief: NVIDIA has established a federal political action committee (PAC) named NVPAC, which is authorized to make donations to U.S. federal candidates and party committees. Funds will not come directly from NVIDIA’s corporate accounts; instead, eligible employees will contribute voluntarily, with an annual maximum of $5,000 per person. The PAC can support both the Democratic and Republican parties, and all donation recipients and amounts must be disclosed to the U.S. Federal Election Commission. This is not a Super PAC—an entity that can raise and spend unlimited funds—but rather an employee PAC, a common structure for large U.S. corporations. Tech firms including Google and Meta already operate similar groups, and Anthropic launched AnthroPAC in April this year. As of the end of July, AnthroPAC had raised roughly $350,000. NVIDIA has recently significantly ramped up its efforts in Washington. The company’s federal lobbying spending this year has exceeded $2.5 million, higher than the same period last year. In June, NVIDIA hired Bruce Andrews—who previously served as U.S. Commerce Department Deputy Secretary under the Obama administration—as its Chief External Affairs Officer, and also engaged multiple external lobbying firms. In an email to employees, NVIDIA explained that policies drafted by Congress in the coming years will directly impact the AI industry and whether customers can access and use NVIDIA’s technology. As policies such as AI regulation and chip exports increasingly directly affect its business, NVIDIA is expanding its political influence from lobbying to election donations.

The U.S. dollar held near a one-week high against major currencies on Friday, with investors staying on the sidelines ahead of remarks by Federal Reserve Chair Walsh at the Jackson Hole Economic Symposium. With U.S. inflation remaining above the 2% target, traders are now pricing in at least one 25-basis-point rate hike from the Fed this year, a development that has supported the dollar’s performance in recent sessions. Markets widely hope to glean more details on monetary policy and the U.S. Treasury’s efforts to lower long-term borrowing costs from Walsh’s remarks, given recent volatility in the bond market. However, analysts note that given Walsh’s reluctance to provide clear forward guidance, he is more likely to update on the progress of five special task forces on Fed operations he established early in his tenure. Commerzbank FX and commodities analyst Volkmar Baur said in a report that Walsh has repeatedly stressed in recent weeks that the Fed’s 2% inflation target is non-negotiable, but he has never explicitly referenced the PCE price index in this context. He added that the Fed may at least be considering adopting a different inflation gauge. If Walsh signals as much, it could undermine market expectations for further rate hikes and be interpreted as a dovish signal, putting pressure on the U.S. dollar.

According to Bitget's market data, the spot palladium price rose nearly 5% to $1,417.75 per ounce.