BTC breaks through the $79000 mark

[Japanese Government Allocates an Additional $944 Million to Support Chip Startup Rapidus] The Japanese government will allocate an additional 150 billion yen (approximately $944 million) to support chip startup Rapidus, aiming to enhance domestic chip manufacturing capabilities and reduce reliance on Taiwan's TSMC. According to Jin10 reports, Japan's Ministry of Economy, Trade and Industry will seek more funding for Rapidus in the fiscal year 2027 budget, with the company targeting the production of advanced 2-nanometer chips by 2027.

Fundingvest pointed out that the rise of Bitcoin is driven by mechanical short squeeze in the Binance futures market. （CryptoQuant）

The minutes of the Federal Reserve's July meeting showed that decision-makers mentioned AI 18 times in 15 paragraphs discussing the economic outlook. Officials warned that AI infrastructure investment would drive up aggregate demand and increase inflationary pressures, while also concerned that AI capital expenditures would rely on non bank and regional bank financing, and that a reversal in AI asset pricing would impact financial institutions. The meeting minutes pointed out that there is uncertainty about the impact of AI on the job market, and the construction of data centers has exacerbated some job shortages. Officials have doubts about the timeline for AI to improve productivity.

[Upbit Trading Volume Surges 273%, Bithumb Trading Volume Increases 132.9%] According to The Block, the trading volume of South Korean cryptocurrency exchange Upbit increased by 273% over the past 24 hours to approximately $1.84 billion, with XRP being the highest-traded asset on the platform. During the same period, the trading volume of South Korean cryptocurrency exchange Bithumb grew by 132.9% to approximately $935 million, with XRP being the most actively traded asset.

MicroStrategy's Bitcoin holdings achieved a floating profit of approximately $1.4 billion after a 22% increase in Bitcoin within five days, reversing the $13 billion loss in July when Bitcoin prices hit $58000. （CoinDesk）