July 28 brought a dense mix of crypto market moves, semiconductor headlines, AI developments, and regulatory updates. In equities tied to China’s chip sector, CXMT posted a 465.82% gain on its first trading day, with turnover topping RMB 140 billion and market capitalization reaching RMB 3.28 trillion. Separate reporting cited by The Information said a Shanghai state-backed company has started mass production of self-developed DUV lithography manufacturing equipment, with output planned at around five units in 2026 and about 20 in 2027; SMIC, Hua Hong Semiconductor, and CXMT were named as intended customers. In crypto, most of the highest-volume CEX tokens were down over the past 24 hours, while AEON led the OKX gainers list with an 84.28% rise. Hyperliquid data around the CXMT IPO drew attention after Allium said pre-listing volume reached $17.8 million and that 96% of smart-money accounts had established profitable shorts before the open. Elsewhere, Strategy disclosed its first buyback of Stretch STRC shares under its digital credit securities repurchase plan, and Triple-A’s reported exploit losses expanded to $11.8 million. On policy, BlackRock backed the CLARITY Act, but the U.S. Senate temporarily set the bill aside, while lawmakers in Japan called for easing the country’s 2x crypto leverage cap.

Payward, the parent company of crypto exchange Kraken, said on July 27 that it is acquiring the embedded wallet business of Magic Labs through an asset purchase. After the deal closes, the two companies will continue operating independently, while Magic Labs’ wallet customers will be migrated to Payward Services. Magic Labs will also adopt a new name, Newton Labs. Founded in 2018, Magic Labs said it has created more than 60 million wallets and provided embedded wallet services to more than 200,000 developers. Following the divestiture, Newton Labs will focus on building Newton Protocol, an on-chain financial authorization layer protocol. The company said the protocol’s mainnet beta went live in June 2026 and is designed to carry out compliance, security, identity verification and risk control before transactions are posted on-chain. Newton Labs added that VaultKit, its first product based on Newton Protocol, is aimed at helping institutional-grade custody solutions perform compliance and risk management before trade settlement. It said the product roadmap will later extend to real-world assets, stablecoins, and commercial and financial use cases involving AI agents. The acquisition also adds to Payward’s broader push in financial infrastructure, following its previously disclosed deals for Bitnomial, Reap Technologies and NinjaTrader.