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Today · 2026-08-04 · Tue

Stammer officially left British Prime Minister: my work is done

British Prime Minister Stammer, speaking out on Downing Street, said, “My work is done. In six and a half years, I led our party out of the historic defeat of 2019, turning it into a party capable of facing the country and winning an overwhelming victory in the general elections of 2024. Since then, it has been an honour for me to serve you and this great country as Prime Minister. I believe that Britain is now stronger and fairer than it was two years ago. However, I will always remember that the most modest thing about this job is that you can sit in the front row and witness the performance of the country's greatest thing. Countless tenacity can be seen daily — from the perseverance, perseverance, integrity and compassion of those who serve their country.” “We must remember the greatness of Britain. When we debate how to solve the problem, we inherit something from our national and national identity, and we can give us confidence that we can make our country better. We can create a Britain where every child can walk further with talent, and if we do not succumb to division, we can bring people together under a common flag. I therefore wish Andy Burnham every success as I hand him the baton now. He has my full support... I thank the British people for the opportunity to serve me. I leave with dignity and with a smile, and I am proud of all that we have achieved.” Kim Xian

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HSBC: IF THE AI CYCLE COOLS GLOBAL TRADE GROWTH OR SLOWS DOWN

On 20 July, HSBC economists stated in a report that global trade growth could slow if AI-related demand subsided. They noted that global trade remained closely linked to the AI cycle and that, in nominal terms, related commodities contributed to 80 per cent of global export growth. These commodities account for about 80 per cent of Taiwan ' s total exports and 27 per cent of United States imports. They noted that export performance was weak after the removal of scientific and technological products, and that growth in other categories of exports had been largely stagnant since 2024. In addition, AI is supporting the growth of trade in services. However, they believe that, according to the capital expenditure projections of the world ' s leading super-massive cloud service providers, the AI boom is expected to continue for some time, even if next year ' s investment growth slows. Kim Xian

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FATF: 83 PER CENT OF THE JURISDICTIONS SURVEYED HAVE ADVANCED ENCRYPTION CONTROL AND IMPLEMENTATION OF TRAVEL RULES

THE FINANCIAL ACTION TASK FORCE (FATF) ISSUED THE SEVENTH TARGETED UPDATE OF THE STANDARDS FOR VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS, REPORTING THAT 83 PER CENT OF THE JURISDICTIONS SURVEYED HAD ADVANCED ENCRYPTION AND TRAVEL RULES AND 11 JURISDICTIONS WERE STILL WORKING ON THEM. FATF REQUIRES JURISDICTIONS TO PROMOTE THE REGULATION, LICENSING AND REGISTRATION OF VIRTUAL ASSET SERVICE PROVIDERS (VASP) AND REFERS TO OFFSHORE VASP REGULATORY CHALLENGES AND CASES OF CURRENCY ABUSE, INCLUDING THE ISSUANCE OF A MONEY-LAUNDERING NODE IN CAMBODIA AND THE PROMOTION OF A STABLE CURRENCY THAT CAN RESIST THE ASSET FREEZE。

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slow fog: malice track ide extension disguised as solidity plugin

according to slow fog reports, malice track ide extended juannegro.solity disguised as solidity plugin and acted as a cross-platform malicious software deliveryer. the extension will be self-executed and sustained after the ide start, and the dynamic c2 configuration will be stored and acquired using the taifung smart contract, allowing the attackers to update the c2 endpoint and payload without re-dispatch. although the extension has been removed from open vsx, it is still available through the trae marketplace as of 18 july, and installed users should immediately delete and check for damage to the system。

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The Brazilian Securities and Exchange Commission set up a securities monetization exercise Group

ACCORDING TO THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (CVM) BULLETIN, CVM HAS ESTABLISHED A SECURITIES MONETIZATION WORKING GROUP (GTT), WHICH WILL STUDY SECURITIES REGISTRATION, STORAGE, HOSTING, TRADING AND SETTLEMENT ACTIVITIES BASED ON DISTRIBUTED BOOK TECHNOLOGY (DLT) AND PROPOSE TECHNICAL RECOMMENDATIONS AND REGULATORY MEASURES. THE WORKING GROUP HAD AN INITIAL PERIOD OF 120 DAYS AND COULD BE EXTENDED BY 30 DAYS FOR ITS FIRST OUTCOME TO BE SUBMITTED TO THE CVM COMMISSION WITHIN 60 DAYS OF ITS ESTABLISHMENT FOR A PROGRAMME OF EXPERIMENTAL REGULATORY SYSTEMS FOR THE MONETIZATION OF SECURITIES。

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Torch core technology: significant progress in the development of the company ' s second-generation computing technology

On 20 July, the Torch core Technology Bulletin made significant progress in the development of the company ' s second-generation computing technology. The second generation of NPUs, compared to the first generation, has significantly increased their calculus, supported larger model sizes and optimized the whole range of energy efficiency ratios, utilization and quantitative accuracy; the SoC chip to be used in the second generation to calculate NPUs will be officially streamed this year, and is expected to be imported in a multi-brand, multi-species scale next year. At the same time, the company has invested heavily in the development of an AI tool platform to create ecology and help its clients to adapt the AI model more efficiently; as the company ' s R&D work advances, the company ' s side AI chip application will gradually reach out to outside the audio market, and in the multibrand, multi-species, multi-calculations and multidimensional ecology, it will continue to drive the end AI from the concept of technology to the real consumer market. Kim Xian

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The report warns that OpenAI has a serious financial black hole: a threat to drive the AI chain to collapse

On 20 July, according to fast-track technology, the world is now investing in AAI, but a well-known analyst, Ed Zitron, has recently warned that there is a heavy debt burden on AI’s leader, OpenAI, which, if declared out of business, could trigger a series of chain reactions and even trigger the detonation of an AI bubble. The financial statements of OpenAI 2025, verified by Ed Zitron in conjunction with the Financial Times, show that while the total revenue received by OpenAI in 2025 increased significantly from $3.7 billion in the previous year to $13.07 billion, total cost and cost expenditure amounted to $34 billion during the same period, with a single-year operating loss of approximately $21 billion. After taking into account the large one-time non-cash costs incurred in the transition from a non-profit organization to a profit-making entity, estimated by the parties at between $30 billion and $41.6 billion, the final net book losses of OpenAI in 2025 amounted to $38.53 billion. OpenAI is one of the largest buyers of GPU at the NVIDIA data centre and a core customer for cloud service providers such as Oracle and CoreWeave, with soft silver pledging up to tens of billions of dollars to OpenAI. If OpenAI is not in a position to pay the costs of its infrastructure partners on time in the future, the impact will immediately affect these enterprises. Zitron further stated that once AI ' s investment booms receded, memory needs would be reduced significantly, and that the current HBM deficit was largely driven by the huge demands of AI training and reasoning, and that the memory giants Samsung, SK Hercules, Migwang and Sandisk had leaned their production towards HBM, crowding out traditional DRAM and NAND flash capacity. If OpenAI shrinks its calculus input or stops expansion, GPU demand declines will be transmitted directly to HBM, and memory chips may no longer be in short supply, and these giants will be put back in shape and the whole industry will face a reshuffle。

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Analyst: The Fed needs to tighten monetary policy

According to Analyst Bill Dudley, the reason for the Fed to tighten monetary policy remains strong, regardless of how high-frequency data fluctuate. First, in view of the asymmetries between the current economic situation and the two objectives of the Federal Reserve to achieve full employment and price stability, a tight monetary policy is appropriate. On the one hand, the unemployment rate has remained stable and very close to what the members of the Federal Open Market Council consider to be a level of full employment; on the other hand, inflation remains high, with core inflation indicators ranging between 2.4 and 3.3 per cent. In such cases, monetary policy should be austerity measures. Second, there is little evidence of a tightening of current monetary policy. Federal funds interest rates have remained at current or higher levels for almost four years, unemployment rates have remained fairly stable and have been at full employment levels for the past two years. If the policy is really tight, then in theory it should be seen that unemployment is rising and inflation is falling. The current strong financial market conditions also support this judgement. Thirdly, the AI investment boom also supported further tightening of monetary policy. The surge in AI spending is driving real GDP growth and pushing up prices in a number of areas, such as electricity costs and the price of semiconductor chips. While AI is expected to raise productivity and help reduce inflation in the long run, the prevailing role remains to stimulate demand and push prices up. Fourthly, the credibility of the Fed is at risk. Inflation has exceeded the Fed's target of 2 per cent for more than five consecutive years. If the Fed hesitates, market participants may think that Walsh's hard-line rhetoric is “a bluff”. The Fed should not tighten monetary policy simply to enhance its credibility against inflation. But the reality is that the Fed faces asymmetrical risks: In the coming years, if monetary policy is not sufficiently restrained to bring inflation back to 2 per cent, the costs will be higher than the costs of a slightly more restrictive policy and a posteriori proof of excessive tightening. Walsh has been high-profile in his commitment to achieving price stability and preserving the Fed’s independence, but action is far more convincing than words. While the establishment of working groups and the introduction of new ideas were positive, monetary policy could not be outsourced to outside experts or financial market participants. The Fed needs to step up its efforts to tighten monetary policy. Bill Dudley expects that the Fed will maintain monetary policy at its meeting next week, but by the fall the pressure to tighten monetary policy will be enormous. (KIM XAPP)

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