July 27 brought a packed slate of crypto and tech headlines, spanning a major semiconductor listing, a blockchain patent acquisition, a new multimodal AI model, movement in U.S. digital-asset legislation, and fresh data from Hyperliquid.
NVIDIA launches an open AI safety alliance
NVIDIA said it had joined with multiple founding members to establish an open safe artificial intelligence alliance focused on AI safety and security.
The founding group includes leaders across cloud computing, cybersecurity, enterprise software, open-source foundations and AI research. Members listed in the report include NVIDIA, Adobe, Cadence, Capital One, Cisco, Cloudera, Cloudflare, Cognition, CrowdStrike, Databricks, Dell Technologies, DoorDash, Elastic, HPE, Hugging Face, IBM, LangChain, the Linux Foundation, Microsoft, NAVER, NetApp, Nous Research, OpenClaw, Palantir, Palo Alto Networks, Red Hat, Reflection AI, Salesforce, SAP, SK Telecom, ServiceNow, Siemens, Snowflake, SpacexAI, Synopsys, Thinking Machines Lab and TrendAI.
Country Garden exited its Changxin stake at cost
According to crypto KOL AB Kuai.Dong (@_FORAB), Country Garden invested RMB 2 billion in Changxin in September 2021 at RMB 2.22 per share, acquiring 901 million shares.
By the end of 2024, as the developer was caught in a real-estate liquidity crisis, it sold its entire Changxin stake at the original purchase price. The buyer was Hefei state-owned capital. Based on the figures cited, the investment would have generated a 23x return if it had been held until now.
AB Kuai.Dong also said Hefei state-owned capital now holds 36.79% of Changxin, with book gains of more than RMB 1 trillion.
Circle acquires IBM blockchain patent portfolio
Circle said it has acquired IBM’s blockchain patent portfolio. The assets cover more than 680 patent families and nearly 1,000 granted patents.
The portfolio spans blockchain base-layer technology as well as banking, financial services, insurance, enterprise infrastructure, supply-chain verification and secure cloud operations.
Circle said the deal makes it a leading holder of blockchain patents in the United States and that the assets will support USDC, Circle Payments Network, Arc and other onchain financial products and infrastructure. The two companies also said they will explore additional commercial cooperation in the future.
China-made DUV lithography tools enter mass production
The Information, citing people familiar with the matter, reported that a Shanghai-based state-backed company has begun mass production of self-developed DUV lithography equipment.
The report said the company plans to produce about five units in 2026 and about 20 in 2027. The tools are expected to be delivered to domestic chipmakers including SMIC, Hua Hong Semiconductor and Changxin Memory, with Changxin potentially among the first customers.
The move was described as a sign of progress in China’s domestic substitution for semiconductor manufacturing equipment, though a noticeable capacity gap remains compared with ASML.
Moonshot AI releases Kimi K3 open-weight multimodal model
Moonshot AI published its open-weight Kimi K3 model on Hugging Face.
The company described it as a native multimodal agent model with 2.8T total parameters, a mixture-of-experts architecture, about 104B activated parameters, support for text and image input, and a 1 million-token context window.
According to the official description, Kimi K3 is aimed at long-horizon coding, reasoning and knowledge-work tasks. It can be deployed through Transformers, vLLM and SGLang, and its weights and code are released under the Kimi K3 License.
Changxin jumps 465.8% in its market debut
Changxin closed its first trading day up 465.8% on July 27, finishing at RMB 49 and reaching a total market capitalization of RMB 3.28 trillion.
The report said the listing set multiple records in China’s A-share market.
Clarity Act enters a crucial two-week window in the U.S.
CoinDesk reported that the Senate has released the latest merged text of the Digital Asset Market Clarity Act, combining drafts from the Senate Banking Committee and the Agriculture Committee. The new text also adds ethics provisions for the first time, barring senior government officials from issuing or sponsoring cryptocurrencies.
Whether the bill can pass before the August 7 summer recess remains uncertain.
The central disagreement is over the strength of those ethics provisions. Democrats want language that would materially constrain the more than $1.4 billion in crypto income Trump earned last year, while the version already accepted by the White House would only require Trump to divest within one year or place the assets in a blind trust, with enforcement handled by the Justice Department. Democrats do not trust that arrangement, according to the report.
On the timeline presented, the bill could still reach a vote before August 7 if the Senate moves on a motion to proceed on Monday or Tuesday and reaches agreement on the ethics provisions by July 30.
The report said the crypto industry broadly supports the bill, viewing it as a needed investor-protection framework. Senator Warren, by contrast, said the bill “should be killed on arrival.”
6.93 million HYPE to be unstaked over the next seven days
Onchain Lens said 6.93 million HYPE will be unstaked on Hyperliquid over the next seven days, worth about $415.2 million at current prices.
Of that amount, 3.3 million HYPE worth about $197.53 million are scheduled to be unstaked on July 30 alone. The report said this could rank among the largest single-day unstaking events in Hyperliquid’s history.
Top nine Hyperliquid whale addresses sit on $48.635 million in losses
Hyperinsight said the nine largest whale addresses on Hyperliquid each hold positions close to or above $100 million. Individual position sizes range from $97.84 million to $314 million, for a combined notional value of about $1.285 billion.
Based on current unrealized profit and loss, all nine addresses are in the red, with combined losses of about $48.635 million. The two worst-hit whales are each down more than $10 million.
"BTC OG insider whale" posts the biggest loss
The biggest loser is the address identified as “BTC OG insider whale.” Its current position is worth about $99.35 million, with total unrealized losses of $15.538 million.
Within that, its 5x leveraged long BTC position is worth about $82.906 million, with an entry price of $76,117.3 and an unrealized loss of $13.636 million. A separate ZEC short is down another $1.901 million.
ETH shorts are the main shared source of pain
Six of the top addresses are short ETH, with combined exposure of about 222,000 ETH. Those positions are worth about $456 million and are showing total unrealized losses of $36.208 million.
Among them, “pension-usdt.eth” holds a single 50,000 ETH short that is down $13.417 million, with a liquidation price of $2,182.1, about 10.9% above the current price. “BobbyBigSize” is down $6.665 million on a 44,200 ETH short, while the address is still showing a net loss of $5.317 million overall.
Addresses linked to “Abraxas Capital” are short roughly 94,900 ETH in total. Those positions are down $9.893 million, but gains from HYPE, SOL and FARTCOIN shorts offset much of the damage, leaving net unrealized losses of about $3.872 million.
Other large addresses are also under pressure
Other top addresses are not escaping losses either. The whale address beginning with 0xf822 is under pressure on both ETH and BTC shorts. The address beginning with 0x3200 is mainly losing on long positions in U.S. equities including GOOGL and MRVL. A Wintermute market-making address is down $2.463 million on a net basis.
The report said the broad losses are not the result of everyone making the same directional bet. Rising ETH has squeezed major shorts, the BTC OG whale has been hit by high-entry BTC longs, and some BTC shorts and U.S. equity longs are also underwater. With both long and short strategies failing at the same time, none of the nine roughly nine-figure addresses is currently in profit on paper.