A South Korean lawmaker proposes postponing the taxation of virtual asset income for three years until 2030.

According to The Hill, Republican National Committee Chair Joe Gruters predicts that after this fall’s midterm elections, the Republican Party will retain control of both chambers of Congress. On House seats, Gruters said: “There are 212 seats leaning Republican, plus 18 swing seats. We need to flip 6. I bet we can win 10. I think we will hold majorities in both the House and Senate.” Gruters added that he is highly optimistic about his prediction.

According to GMGN monitoring, BSC ecosystem meme coin MUBARAK saw another sharp volume-driven surge in the early hours of today. Its price jumped from around $0.013 to nearly $0.03 at one point, with a maximum increase of over 100%, and its market capitalization peaked close to $30 million. It is now trading at approximately $23.68 million, with a 24-hour gain of around 50% and a corresponding trading volume of roughly $17.2 million. This rally occurred immediately after Aster listed a new contract for MUBARAK. In the early hours of yesterday, Aster announced the launch of MUBARAK’s perpetual contract, supporting up to 5x leverage. Following the announcement, MUBARAK quickly broke out of its previous sideways range where its market cap stood at around $13 million. The market appears to be replicating the trading playbook of TUT from earlier. After Aster launched TUT’s 5x leverage perpetual contract on August 6, TUT first rose by over 50%, then evolved into a leveraged-fund-driven short squeeze, surging by around 300% in 24 hours. This time, MUBARAK also saw a rapid volume spike after its Aster listing, with funds starting to trade along a similar path. Both MUBARAK and TUT are long-popular tokens in the BSC ecosystem; they were also jointly selected in Binance’s first batch of "Vote to List" in March 2025 and launched on the spot market. Timeline-wise, MUBARAK’s current resurgence aligns more with the "Aster new listing + leveraged funds + old token rotation" trading template formed after TUT’s rally, rather than a new narrative. BlockBeats reminds users that meme coins have highly volatile prices, driven primarily by market sentiment, community hype, and narratives, with no stable fundamental support. Investors should exercise caution.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a certain address’s $37.93 million TWAP order has been fully filled, and it now holds a long position of 500,000 SOL at an entry price of $76.368 with 20x leverage, currently posting an unrealized profit of $160,000.

U.S. stock leaders in optical modules Lumentum, Coherent, and computing infrastructure provider CoreWeave are set to release earnings reports this week, with Serenity previewing the upcoming CPO (Co-packaged Optics) stock earnings week. Serenity points out that AAOI’s newly released Q2 2026 earnings report shows a 20-40% imbalance in optical transceiver demand, with lasers emerging as the primary bottleneck. POET disclosed at its June Annual General Meeting (AGM) that the production capacity of its three major laser suppliers is fully booked for the next two years, and NVIDIA has secured supply through investments, confirming tight industry supply-demand dynamics. Serenity stresses it does not make earnings price movement predictions, noting: “Because most of the time it’s like flipping a coin. But I can say that much of the pricing happens ahead of earnings, unless there’s a very unexpected development. In any case, I expect LITE’s earnings report to be very strong.”

According to an official announcement, Upbit will launch BTC and USDT trading pairs for CYS, ICNT, XAN, EDEN, AIOZ, and ALLO. Trading is scheduled to open at 14:00 local time on August 10.

South Korean exchanges released data today showing that semiconductor heavyweight stocks have recently corrected, with funds beginning to rotate into non-semiconductor sectors. From August 3 to 7, Samsung Electronics fell 12.00% and SK Hynix dropped 17.23%, while the KOSPI index declined 5.10% over the same period; by contrast, sectors including metals and machinery posted gains against the trend. Currently, the combined market capitalization of Samsung Electronics and SK Hynix as a share of the KOSPI has fallen from 58.9% on June 25 to 46.3% as of August 7. Meanwhile, excluding the two firms, the KOSPI’s projected net profit for this year has been revised up to 222.3 trillion won from last week’s 219.2 trillion won, with improving market earnings further supporting valuation recovery in non-semiconductor sectors. Kim Min-gyu, a researcher at KB Securities, noted that the current "semiconductor correction, other sectors rising" scenario is more akin to previously overlooked industries gaining revaluation opportunities while the dominant sector takes a breather, rather than a simple broad-based market rally. (FNNews)