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Today · 2026-07-31 · Fri

SEC in Thailand sued Bitkub and two former directors for the theft of $50 million of encrypted assets

On 24 July, SEC Thailand initiated criminal proceedings against Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, in the Economic Crime Suppression Branch on 23 July, alleging the theft of some 1.7 billion Thai baht (approximately $50 million) in a false daily net capital report to the regulatory authority between 10 May and 30 October of the same year, following the hacking of 2021. The two former directors were also accused of making false records in relevant corporate documents, which led the regulator to assume that the customer ' s assets were in normal custody and that Bitkub was not lost. In response, Bitkub stated that the incident had occurred about five years earlier when the persons concerned had chosen not to disclose stolen information in order to avoid a run-off, that the co-founder had purchased out of his own pocket the same number and type of digital assets to fill the gap, that the customer ' s assets had not been lost, and that the Thai SEC had confirmed the security of the customer ' s assets on 8 September 2025。

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Verizon and Google entered into over $1 billion of a dark fibre-optic protocol to provide connectivity to the AI data centre

On 24 July, the Chief Executive Officer of Verizon, Dan Schulman, a United States telecommunications operator, stated that the company had entered into an agreement with Google for a black fibre connection worth over $1 billion to provide network connectivity to Google data centres. Shulman indicated at a teleconference after Verizon released performance in the second quarter that the company was expected to announce other cooperation agreements by the end of the year and that the related transactions together would generate billions of dollars in revenue in the coming years。

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WONG IN-HOON SPOKE FOR THE FIRST TIME IN X: OPEN SOURCE MODELS ARE IMPORTANT FOR ARTIFICIAL INTELLIGENCE SECURITY, DIFFUSION OF INNOVATION AND TECHNOLOGICAL SOVEREIGNTY

THE UK CEO WONG IN-HOON HAS REGISTERED THE X PLATFORM ACCOUNT, AND THE UK OFFICIAL ACCOUNT NVIDIA AI HAS FOLLOWED IT. IN ITS FIRST COMMUNICATION, IT SHARED AN OPEN LETTER SIGNED BY BRITISH WIDA ON THE IMPORTANCE OF OPEN SOURCE MODELS. HE SAID THAT ARTIFICIAL INTELLIGENCE WOULD TRANSFORM INDUSTRIES, EMPOWER ENTERPRISES AND BE BUILT BY COUNTRIES. OPEN MODELS HELP TO ENHANCE SECURITY AND NETWORK SECURITY, ACCELERATE INNOVATION AND DIFFUSION, AND ACHIEVE TECHNOLOGICAL SOVEREIGNTY. THE WORLD NEEDS BOTH FRONT-LINE CLOSED-SOURCE MODELS AND FRONT-LINE OPEN-SOURCE MODELS。

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THE NEW RULES FOR THE LISTING OF HONG KONG LAW HAVENS ARE NOW IN FORCE: LOWER THRESHOLDS, LIBERALIZATION OF THE WVR, EXPANSION OF THE CONFIDENTIAL FORM

ON 24 JULY, ACCORDING TO THE FINANCIAL STATEMENTS OF HONG KONG, A SUMMARY OF THE RECOMMENDATIONS FOR IMPROVING THE COMPETITIVENESS OF HONG KONG ' S LISTING MECHANISMS WAS OFFICIALLY ISSUED BY HONG KONG TREASURY, AND THE REVISED LISTING RULES CAME INTO FORCE. THE MARKET VALUE THRESHOLD FOR DIFFERENT VOTING RIGHTS (WVR) STRUCTURES AND SECOND-LISTED APPLICANTS HAS BEEN REDUCED FROM HK$10 BILLION TO HK$6 BILLION, THE SHAREHOLDING REQUIREMENT FOR THE WVR STRUCTURE HAS BEEN EASED SIMULTANEOUSLY, AND THE CONFIDENTIAL LIST ELIGIBILITY HAS BEEN EXTENDED FROM SPECIFIC TYPES OF ENTERPRISES TO ALL NEW APPLICANTS. THE HONG KONG POLICE OFFICE INDICATED THAT THE CONSULTATION HAD RECEIVED 73 RESPONSES FROM VARIOUS SECTORS OF THE MARKET, AND THAT THE RECOMMENDATIONS WOULD BE FULLY ADOPTED, WITH SOME MINOR AMENDMENTS. ACCORDING TO CHEN ZHIHUA, PRESIDENT OF THE HONG KONG SECURITIES AND FUTURES PROFESSIONAL ASSOCIATION, THIS REFORM IS ONE OF THE MOST OUTSTANDING REFORMS OF THE HONG KONG LISTING MECHANISM IN THE LAST DECADE。

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Morgan Stanley: Investors now seem to be full of spending plans for Intel. Hot

ON 24 JULY, MORGAN STANLEY INDICATED THAT INTEL WAS EXPECTED TO INCREASE TOTAL CAPITAL EXPENDITURE THIS YEAR FROM APPROXIMATELY $15 BILLION TO $20 BILLION, AND THAT THE COMPANY WAS EXPECTED TO SPEND SIGNIFICANTLY ABOVE THAT LEVEL NEXT YEAR. MORGAN STANLEY ' S ANALYSTS PROJECTED CAPITAL EXPENDITURE OF APPROXIMATELY $30 BILLION FOR THE 2027 FISCAL YEAR. “WE EXPECT THAT THE ENTHUSIASM OF INVESTORS FOR SUCH EXPENDITURES WILL DEPEND ENTIRELY ON THE ENTHUSIASM FOR THE LONG-TERM PROSPECTS FOR THESE INVESTMENTS”, THEY SAY IN THE STUDY. INTEL WILL BENEFIT FROM THE DYNAMIC DEVELOPMENT OF AI TECHNOLOGY, WHICH RELIES ON THE COMPANY ' S GOOD CPU. “THE NARRATIVES IN THE SERVER FIELD DID SUPPORT SOME GROWTH,” MORGAN STANLEY'S ANALYST SAID. “BUT THE PROSPECTS OF A SERVER'S PROFITABILITY DEPEND, AT LEAST TO A CERTAIN EXTENT, ON MAINTAINING A SHORTAGE, BECAUSE SUFFICIENT SUPPLY OF CPUS COULD LEAD TO SOME MARKET SHARE LOSS AND PRICE DECLINE.” KIM XIAN

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The U.S. stock has been rising and falling

The index rose by 0.1 per cent and fell by 0.2 per cent. Intel fell by about 1 per cent, and the company Q2 company increased its revenue by 25 per cent, significantly exceeding expectations, guiding the increase. Amkor rose by about 6 per cent, and British Wida signed a $1.5 billion chip sealing agreement with Amkor. The stock of the chips fell by about 4 per cent for SK Hercules, about 5 per cent for Moody, about 4 per cent for American light technology, about 5 per cent for Western data and about 4 per cent for Hightech. American Express fell by about 6 per cent, the largest decline since February, following the second-quarter financial disclosure by companies。

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Hyperliquid buys back and destroys 13,087 thousand hypes this week at an average value of approximately $7.65 million. Dollar

Hyperliquid issued a Friday-week business update, which showed that in the past seven days, the agreement aid fund had cumulatively completed 13.08 million HYPE buy-backs destroyed at a market value of approximately $7.65 million; the current buy-back weighted averaged US$ 58.45, with a total of 13.08.7 million HYPE coins permanently removed from the circulation supply this week。

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Oil prices are still expected to rise by more than 10 per cent from the $100 return line

On Friday, 24 July, Brent's crude oil futures fell by more than 3 per cent, following a break of $100. However, oil prices are still expected to rise significantly this week owing to the increased disruption of energy transmission in the Red Sea and concerns about the further escalation of the war in Iran, and a 10 per cent weekly increase is still being maintained. “The supply of crude oil has again been squeezed and prices have inevitably risen as a result of the continued United States attack on Iran, the further involvement of Houthi forces in the Red Sea and the interruption of the CPC pipeline.” According to Rystad analyst Janif Sha, it appears that the current disruption in the Strait of Hormuz is close to its peak in March. Kim Xian

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Russia has indicated that it will wait for Trump to come up with a new plan for ending the war in Ukraine

On Friday, 24 July, the Kremlin stated that Russia believed in the sincerity of United States President Tripp ' s efforts to end the war in Ukraine and that, while the United States continued to provide weapons to Kiev, the Russian side would await a new solution from Washington. At the same time, the Kremlin spokesman, Peskov, stated that Russia would continue to pursue its stated objectives through military means. Peskov said: “Yes, (military action) is not the preferred path, but in view of the lack of prospects for peace, we will stay the course until a complete victory is achieved. However, we await a new proposal.” Kim Xian

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The new Shinefields winner, Jacob, announced his accession to OpenAI

On 24 July, Jacob Zimmerman, one of the winners of the Shinto Fields Prize, announced that he would join OpenAI, focusing on the area of artificial intelligence security, following his acceptance of the highest honour in mathematics in Philadelphia. When asked about future plans at the post-winning press conference, Zimmerman put it simply: “I think the world is changing. The mathematics profession that we know well, and I don't think it will ever exist in its present form." He also announced that he would join OpenAI。

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ENCRYPTED AS MARKETER B2C2 SEEKS TO SELL OVER $1 BILLION

ON 24 JULY, INFORMED SOURCES REPORTED THAT 90 PER CENT OF THE ENCRYPTED CURRENCY HELD BY THE JAPANESE SBI HELD SHARES AS A MARKETER B2C2 HAD NEGOTIATED SOME OR ALL OF THE SALES WITH POTENTIAL BUYERS OVER THE PAST 18 MONTHS. ACCORDING TO KNOWLEDGEABLE SOURCES, THE MAIN OBSTACLE TO THE NEGOTIATIONS WAS A VALUATION DISAGREEMENT, WITH B2C2 SEEKING A VALUATION OF MORE THAN $1 BILLION, BUT IN THE CURRENT CONTEXT OF THE WEAK ACTIVITY OF ENCRYPTED MARKET TRANSACTIONS AND INDUSTRY EARNINGS CONSTRAINTS, IT WAS MORE DIFFICULT TO REACH RELATED TRANSACTIONS. IT IS NOT CLEAR WHETHER NEGOTIATIONS ARE STILL MOVING FORWARD。

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