At the opening of the US stock market, the Dow Jones Industrial Average fell more than 429 points

According to The Block, Tether compliant stablecoin USA ₮ has officially been launched on the Celo mainnet, marking USA ₮'s second mainnet deployment after Ethereum. USA ₮ is issued by Anchorage Digital Bank and can be natively minted and redeemed on Celo, and can be directly used to pay for on chain gas using Celo's fee abstraction mechanism. USA ₮ was launched in January this year and currently has a market value of approximately $185 million.

Joe Burnett predicts on the show that the price of Bitcoin will reach $11 million in the first quarter of 2036. （Cointelegraph）

[Draft Rules for Governing Cyberbullying Released by China's Cyberspace Administration, Including AI-Generated Content] According to TNW, on July 29, China's Cyberspace Administration released a draft of rules for governing cyberbullying and opened it for public consultation. The draft requires platforms to establish cyberbullying content detection classifiers, provide one-click protection features, and implement blacklist management and periodic reporting mechanisms for violating accounts. The draft also includes AI-generated deepfake images and synthetic harassment texts under its regulatory scope. The Q&A platform Zhihu has already restricted the use of anonymous accounts.

Lemonade, a US AI insurance company, released its second quarter financial report, with revenue of approximately $294.4 million, a year-on-year increase of approximately 79%, slightly exceeding analysts' expectations of $291 million. The high market expectations, overvalued stock valuations, and CFO transition plans have led to a sell-off of stocks in the market. According to BIT market data, Lemonade's stock price fell more than 20% after opening today.

[U.S. Crypto Scam Losses to Reach $80.7 Billion by 2025, Far Exceeding FBI Reported Figures] According to Decrypt, a report by the Consumer Federation of America (CFA) indicates that U.S. cryptocurrency scam losses are estimated to reach $80.7 billion by 2025, seven times the $11.37 billion reported by the FBI. Among these, investment fraud losses are projected to hit $61.4 billion, a year-on-year increase of 32%. Losses from crypto scams targeting individuals aged 60 and above are estimated at $4.4 billion. The FBI's Operation Level Up initiative has prevented approximately $500 million in losses, while the U.S. Department of Justice has seized over $25 million in crypto assets linked to fraud.