8.2 AI Daily Report AI competition intensifies, encryption regulation and innovation run in parallel

1. Headline

1. Anthropic cuts off OpenAI's access to its AI coding tools.

Anthropic announced that it has cut off OpenAI's access to its AI coding tools. An Anthropic spokesperson stated that this action was taken because OpenAI "used our coding tools before the release of GPT-5," which violates Anthropic's terms of service. These terms prohibit the use of Anthropic's AI technology to develop competing AI models.

This decision has intensified the competition between the two companies in the field of artificial intelligence. OpenAI is the developer of the GPT language model, while Anthropic has developed the rival ChatGPT. Industry insiders believe this reflects the increasing struggle for key technologies among AI companies.

Anthropic's actions may delay OpenAI's development progress on subsequent models like GPT-5. However, OpenAI has its own coding tools, so the impact is limited. In the long run, this could stimulate both parties to increase their investment in the research and development of foundational AI tools, raising technical barriers and thus consolidating their competitive advantage in the field of artificial intelligence.

2. The U.S. regulatory agency CFTC promotes transparency in cryptocurrency innovation regulation.

The Chairman of the U.S. Commodity Futures Trading Commission ( CFTC ), Rostin Behnam, issued a public letter summarizing the agency's latest progress in cryptocurrency regulation.

Benham stated that the CFTC is promoting transparency in cryptocurrency regulation to create a clearer regulatory environment for industry innovators and entrepreneurs. Specific measures include the first-ever Crypto CEO Forum, the repeal of outdated employee suggestions, and the release of new guidelines.

The CFTC also sought public input on innovative initiatives such as the digital asset market pilot program, 24/7 trading, and perpetual derivatives. Perpetual derivatives have been launched for trading on designated contract markets registered with the CFTC, and 24/7 trading has been implemented since May.

Industry insiders believe that the CFTC's measures help to provide a greater development space for cryptocurrency innovation under the premise of compliance. However, there are also views that the power of the CFTC as a single regulatory agency is limited, and it requires the joint cooperation of other regulatory departments to truly promote the transparency and innovation of cryptocurrency regulation.

3. Launch Web Wallet, supporting on-chain transactions and NFT management

The cryptocurrency exchange announced the launch of the Wallet Web wallet. This is a browser-based decentralized wallet that requires no installation or plugins, allowing users to conduct on-chain transactions directly through the web.

The Secure Auto Sign(SAS) mechanism integrated into the new wallet allows for quick authorization and automated trading while ensuring autonomous asset management, making it suitable for high-frequency markets such as Meme coins. SAS operates in a trusted execution environment, ensuring that private keys remain local and are not accessible to third parties.

In addition, the wallet supports seamless switching across devices. Combined with a secure QR code authorization mechanism, users can freely switch between mobile, desktop, and other terminals, avoiding the cumbersome process of repeatedly importing the wallet. On August 6, the wallet will also integrate mainstream public chains like EVM and Solana, supporting NFT binding.

Industry insiders believe that Wallet Web combines the decentralized freedom with the speed and convenience of centralized platforms, providing users with a new experience of safer and more efficient on-chain transactions. However, there are also opinions questioning whether there are potential conflicts of interest in launching a decentralized wallet as a centralized exchange.

4. Curve Community Proposal: Abandon Layer 2 Deployment, Focus on Ethereum Mainnet

Members of the Curve community have proposed a proposal to abandon the deployment on Layer 2 networks and concentrate resources on the Ethereum mainnet.

The proposer believes that Curve's revenue on the Ethereum mainnet is 450 times that of all its Layer 2 deployments combined. However, the transaction volume on Layer 2 networks is sluggish, while development and maintenance costs are high. "These chains require at least the same level of attention as Ethereum, but the returns are minimal."

The proposal has received support from Aave co-founder Marc Zeller. Zeller previously stated that Aave should stop deployments on the Bitcoin Layer 2 network BOB.

Analysts point out that if the proposal is approved, Curve will become the second mainstream DeFi protocol after Aave to abandon Layer 2 deployment. This reflects a cooling enthusiasm in the industry for Layer 2 networks, with more resources likely to refocus on the Ethereum mainnet.

However, some viewpoints suggest that Layer 2 networks still have development potential, and abandoning protocols like Curve too early might lead to missing opportunities. Whether the transaction volume of Layer 2 will significantly increase in the future remains to be seen.

Subzero Labs has launched a new blockchain Rialo that allows access to off-chain data without an oracle.

Blockchain startup Subzero Labs has announced the launch of a new type of blockchain called Rialo. Rialo is not a traditional Layer 1 blockchain, but is designed for developers without a cryptocurrency background, allowing them to build functionalities on the blockchain that are typically only achievable off-chain.

The biggest innovation of Rialo is that it can access off-chain data, such as FICO credit scores, without the need for oracles. This breaks the limitations of isolation between blockchain and real-world data, and is expected to promote the application of blockchain technology in more traditional industries.

Adepoju, the CEO of Subzero Labs, stated that Rialo aims to build infrastructure for the We era. He believes that Rialo will become a larger and smarter system that serves the future of We.

Analysts believe that the design concept of Rialo is quite innovative, but its practical application prospects remain to be observed. If Rialo can attract a large number of traditional developers, it is expected to promote the large-scale application of blockchain technology. However, if there is a lack of sufficient ecological support, Rialo may struggle to stand out in the competition among existing public chains.

2. Industry News

1. Bitcoin faces short-term pressure, with increasing divergence between bulls and bears.

After Bitcoin broke through $114,000 on July 31, it experienced a pullback on August 2, briefly falling below the $114,000 mark. Analysts pointed out that this round of decline was mainly influenced by Trump's new tariff policy, triggering a risk-averse sentiment. Meanwhile, the US non-farm payroll data for July was significantly below expectations, exacerbating concerns about the Federal Reserve's interest rate hike path.

Trader data shows that the decline in Bitcoin has triggered large-scale long liquidations, further intensifying the selling pressure. Meanwhile, short positions continue to increase, reflecting a divergence in market sentiment regarding future trends. Analysts state that Bitcoin faces significant pressure at $114,000 in the short term, and attention is on whether the $112,000 level can provide effective support.

Overall, Bitcoin is under short-term pressure and has retreated, with an intensification of long and short positions divergence. Investors need to closely monitor subsequent macro data and the direction of Federal Reserve policy, as this will directly impact Bitcoin's mid-term trend.

2. Ethereum faces institutional sell-off, struggling to defend the $3500 level

Ethereum experienced a decline on August 2, briefly falling below the $3500 mark. On-chain data shows that Ethereum faced a significant sell-off from institutional investors, with unrealized profits at a low level. Analysts point out that this reflects a lack of confidence among institutional investors regarding the future price movement of Ethereum.

At the same time, the open interest of Ethereum futures has significantly decreased, indicating a lower risk appetite among investors. Analysts state that if Ethereum fails to reclaim the key support level of $3524, it may further decline to $3314.

Overall, Ethereum is under short-term pressure and struggling to defend the $3500 level. Investors need to closely monitor the subsequent flow of funds and changes in on-chain activity, as this will determine whether Ethereum can stabilize and rebound.

3. The Solana ecosystem continues to heat up, with new industry tracks beginning to show differentiation.

During the TOKEN2049 conference, ecosystems such as Solana, Base, and TON continued to gain momentum, becoming the focal point of new tracks in the industry. Meanwhile, some previously popular tracks have become increasingly quiet. Analysts believe this reflects a differentiation in the popularity of tracks within the cryptocurrency industry, with the Matthew effect starting to emerge.

Investors say that ecosystems such as Solana, Base, TON, and BTCFi have become the "new four kings" in the hearts of many practitioners, continuously attracting funds and popularity. Meanwhile, some former star projects are facing the challenges of user loss and capital outflow.

Overall, the continued warming of ecosystems like Solana reflects the trend of differentiation in new sectors of the industry. Investors need to closely monitor the development trends of each sector to seize potential investment opportunities.

3. Project News

1. Sui ecosystem welcomes significant benefits: Grayscale Trust and native USDC launch.

Sui is a brand new blockchain ecosystem created by former Diem engineers. It employs an innovative object-based data model and parallel execution engine, designed to provide high throughput and low latency decentralized applications.

Recently, the Sui ecosystem welcomed two major pieces of good news. First, Grayscale Trust launched the Sui Trust product, providing institutional investors with a safe and compliant investment channel. Second, Circle announced the launch of native USDC on Sui, injecting liquidity into the Sui ecosystem.

These two major benefits will undoubtedly bring a huge boost to the Sui ecosystem. The addition of Grayscale Trust will attract more institutional funds into the Sui ecosystem, while the launch of native USDC provides a solid foundation for DeFi applications on Sui.

Analysts believe that the rapid development of the Sui ecosystem will drive innovation and application of blockchain technology. Its object-based architecture is expected to bring a new experience to decentralized applications. However, Sui also faces fierce competition from mature public chains such as Solana and Ethereum.

Overall, the development of the Sui ecosystem is worth continuous attention. With the emergence of more favorable factors, Sui is expected to become the next blockchain hotspot.

2. Curve Community Proposal: Abandon L2 Deployment, Focus on Ethereum Mainnet

Curve is the largest algorithmic stablecoin exchange in the Ethereum ecosystem and holds an important position in the DeFi space. However, the latest community proposal suggests that Curve abandon its deployment on L2 networks and focus instead on the Ethereum mainnet.

The main reason for the proposal is that Curve's earnings on the Ethereum mainnet far exceed the total of all L2 deployments. Meanwhile, the development of L2 networks is slow and there is uncertainty. Therefore, continuing to deploy on L2 networks will waste resources and yield limited returns.

The proposal has sparked intense discussions within the community. Supporters believe that focusing on the Ethereum mainnet can maximize Curve's profits and influence. Opponents worry that abandoning L2 deployment may lead to missed future opportunities.

Regardless of the final outcome, this proposal reflects the Curve community's deep consideration of the project's development direction. In the current DeFi market environment, Curve needs to carefully consider resource allocation to ensure long-term sustainable development.

Analysts point out that Curve's decisions will impact the entire DeFi ecosystem. As a leading DeFi protocol, Curve's initiatives could inspire other projects to follow suit. At the same time, this will further highlight the core position of the Ethereum mainnet in the DeFi space.

3. Toncoin breaks key resistance, with broad prospects for future development.

Toncoin is the native cryptocurrency in the Telegram ecosystem, which has recently performed well, with its price breaking through key Fibonacci resistance levels. This positive performance is attributed to the continuous development of the Telegram ecosystem and user growth.

As a decentralized cryptocurrency, Toncoin aims to provide payment and value storage functions for the Telegram ecosystem. With the continuous increase in the number of Telegram users, the adoption rate of Toncoin is also steadily rising.

Analysts believe that the future development prospects of Toncoin are very broad. On one hand, Telegram's large user base provides natural traffic for Toncoin; on the other hand, the role of Toncoin as a payment and value storage tool will also promote its popularity in practical applications.

However, Toncoin also faces some challenges. The first is competition with other cryptocurrencies, and the second is the uncertainty of regulatory policies. But overall, Toncoin, as a cryptocurrency based on a mature ecosystem, has development potential that cannot be ignored.

Investors have high expectations for the future performance of Toncoin. Some analysts believe that if Toncoin can break through the $4 barrier, it is likely to rise further. Of course, this requires the continuous development of the Telegram ecosystem, as well as technological innovations in Toncoin itself.

4. The Solana ecosystem is revitalizing, with new projects emerging continuously.

Solana is one of the most active public chain ecosystems currently. After experiencing a period of stagnation, the Solana ecosystem has recently shown signs of revitalization, with new projects continuously emerging, sparking discussions in the market.

At the recently concluded Breakpoint conference, the Solana ecosystem showcased strong development momentum. Well-known projects such as Pyth, Wormhole, and Birdeye all released their latest updates. At the same time, dozens of emerging projects made their debut, demonstrating the innovative vitality of the Solana ecosystem.

Analysts point out that the continuous development of the Solana ecosystem relies on the resilience of the community and the efforts of developers. Despite having been in a slump at one point, the Solana community has not given up, with fresh blood constantly being injected, driving the ecosystem forward.

Currently, the Solana ecosystem is facing challenges from emerging public chains such as Sui and Aptos. However, at the same time, the Solana ecosystem is also continuously evolving, with new innovations emerging one after another. For example, projects like Cubex and FlashTrade are bringing new vitality to the Solana ecosystem.

Overall, the development of the Solana ecosystem is worth paying attention to. As a mature public chain ecosystem, Solana needs to address internal pain points while attracting new projects and technologies, and improve usability and security. Only in this way can Solana maintain an undefeated position in future competition.

5. Social networking may become the next hot track.

At the TOKEN2049 conference, We Social has been regarded by several industry insiders as the next potential hot track. With the integration of AI and blockchain technology, We Social is expected to bring users a brand new social experience.

Our core philosophy of social interaction is to leverage blockchain technology to achieve decentralization and user autonomy, while incorporating AI technology to provide intelligent content generation and recommendations. This model is expected to address many pain points in current social media platforms, such as data privacy and content moderation.

Multiple We social projects such as Warpcast have made their debut at the TOKEN2049 conference. These projects are exploring how to integrate blockchain and AI technology into social scenarios to provide users with a better experience.

Analysts believe that while We social has broad prospects, it also faces numerous challenges. First is user education, as more people need to understand the philosophy of We; second is the exploration of business models, figuring out how to achieve profitability in a decentralized environment; and third is technological innovation, which requires constant innovation.

Overall, We Social is an emerging track worth paying attention to. It represents an attempt to integrate blockchain and AI technologies in the social field. If it can overcome existing obstacles, We Social will undoubtedly bring users a brand new social experience.

4. Economic Dynamics

1. The US employment data for July was disappointing, raising expectations for interest rate cuts.

Economic Background: The pace of recovery in the U.S. economy is slowing, inflation is high, and the job market is weak. In July, non-farm payrolls increased by only 73,000, far below the expected 920,000, and the unemployment rate rose slightly to 4.2%. The annualized GDP growth rate is 2.4%, below the potential growth rate. Inflation remains elevated, with the core PCE price index rising 4.8% year-on-year in June.

Important event: The U.S. Labor Department's July employment report data is disappointing, with a significant slowdown in job growth. The employment data for May and June was also significantly revised downwards. President Trump subsequently fired the head of the Bureau of Labor Statistics, accusing the data of being manipulated. Federal Reserve Governor Koger unexpectedly announced his resignation, with analysts suggesting it may be related to the employment data.

Market Reaction: Weak employment data has intensified concerns about an economic slowdown, with investors betting on the Federal Reserve starting a rate cut cycle in September. The U.S. Treasury yield curve further inverted, signaling an increased risk of recession. U.S. stocks are pressured downwards as investors flock to safe-haven assets.

Expert Opinion: Former Federal Reserve Governor Williams stated that the employment data is concerning, reflecting a slowdown in labor market momentum. He believes that there is a high possibility of a rate cut in September, although he did not provide a clear signal. Goldman Sachs analysts expect the Federal Reserve to initiate a rate cut cycle in September, with rates returning below 2% by the end of 2023.

2. Trump's tariff policy triggers a chain reaction, casting a shadow over the global economic outlook.

Economic Background: The global economic recovery is weak, trade protectionism is on the rise, and geopolitical risks are increasing. The GDP growth rate of major economies is slowing down, inflation remains high, and the employment market is diverging. The Eurozone economy is stagnating, and China is facing increased downward pressure on its economy.

Important events: The Trump administration announced a new round of tariffs on imported goods, triggering retaliation from multiple countries. Trade disputes between the United States and major economies such as the European Union and China have intensified, disrupting global supply chains. The Federal Reserve hinted at slowing down the pace of interest rate hikes to alleviate downward economic pressure.

Market reaction: The escalation of the trade war hits market confidence, and global stock markets plummet significantly. The US dollar index surges, with safe-haven funds flowing into the bond and gold markets. Prices of commodities such as crude oil are under pressure and decline. Emerging market currencies depreciate, and capital outflows intensify.

Expert Opinion: The International Monetary Fund warns that trade protectionism will severely impact the global economy, potentially causing the global GDP growth rate to slow to 2.5% in 2023. Goldman Sachs analysts believe that the U.S. economy may enter a recession in 2024. Citibank expects that the Federal Reserve may pause interest rate hikes in 2023.

3. The risk of a no-deal Brexit in the UK intensifies, and the pound plunges to a 30-year low.

Economic Background: The UK's economic growth is sluggish, inflation is high, and the job market is weak. In the first quarter of 2023, GDP grew by only 0.1% quarter-on-quarter, the unemployment rate rose to 4.2% in June, and the core inflation rate reached 6.8%. The exchange rate of the pound against the dollar continues to weaken.

Important Event: The new British Prime Minister, hardliner Liz Truss, insists on the October 31 "no-deal Brexit" deadline. The EU refuses to renegotiate the Brexit agreement. The risk of a no-deal Brexit in the UK has greatly increased, with the pound falling against the dollar by over 4%, reaching a new low since 1985.

Market reaction: The UK financial market is turbulent, and the sharp decline of the pound has triggered a wave of asset sell-offs. The UK stock market has fallen significantly, with the London FTSE 100 index dropping more than 3% at one point. The bond yield curve has further inverted, indicating an increased risk of recession in the UK economy.

Expert Opinion: Citibank warns that a no-deal Brexit could lead the UK economy into recession within 15 months. Goldman Sachs analysts expect the pound to further depreciate by 10%, and the Bank of England may be forced to raise interest rates in response to inflationary pressures. Standard Chartered believes that the UK economy will fall into a prolonged stagnation.

5. Regulation & Policy

1. The U.S. Securities and Exchange Commission will hold a nationwide cryptocurrency roundtable.

The U.S. Securities and Exchange Commission (SEC) has announced that it will hold a series of cryptocurrency roundtables nationwide this fall. This initiative aims to gather feedback from industry stakeholders, developers, and investors regarding the new regulations on digital assets that the SEC is considering.

Background: The SEC's cryptocurrency working group is well aware that any regulatory framework will have far-reaching effects, and therefore seeks to ensure the openness and inclusiveness of regulatory policies through extensive public participation. This event particularly welcomes representatives from startup crypto projects with fewer than 10 employees and established for less than two years, to ensure that the formulation of regulatory policies is more comprehensive and diverse.

Policy Content: The SEC plans to hold a series of roundtable meetings nationwide from August to December. Project representatives who wish to participate can submit applications via email, detailing the team composition and project overview, and indicating the cities they wish to participate in. The SEC will publicly disclose the list of participating projects to promote open and transparent dialogue and public engagement.

Market Reaction: Industry insiders generally welcome this, believing it is a key initiative by the SEC to promote openness and inclusiveness in cryptocurrency regulatory policies. Some crypto companies have expressed their intention to actively participate, looking forward to establishing good communication with the SEC to jointly promote industry development. However, there are also concerns that the SEC may use this opportunity to implement stricter regulatory measures.

Expert Opinion: Cryptocurrency legal expert Joshua Joshua Josiah stated: "The SEC's actions reflect its willingness to listen to the voices of the industry. We hope to establish a productive dialogue with the SEC to jointly develop a regulatory framework that favors innovation and development in the industry." Paradigm partner Dan Robinson believes: "The SEC should adopt a technology-neutral regulatory approach to avoid imposing undue restrictions on decentralized finance."

2. The UK Financial Conduct Authority plans to lift restrictions on retail investors trading cryptocurrency exchange-traded notes.

The UK's Financial Conduct Authority ( FCA ) has announced plans to lift the current restrictions on retail customers accessing cryptocurrency exchange-traded notes ( cETNs ), opening up this market segment.

Background: Cryptocurrency exchange traded notes are a type of structured product designed to track the price performance of cryptocurrencies. Currently, the FCA prohibits retail investors from purchasing these products on the grounds that their risks are high and their complexity exceeds the understanding of ordinary investors. However, with the continuous development of the cryptocurrency market, the FCA believes it is necessary to reassess the existing policies.

Policy Content: The FCA has stated that it is considering easing restrictions on cETNs, allowing retail investors to access this investment channel in a regulated environment. However, the FCA emphasized that it will implement "appropriate protective measures" to ensure that investors fully understand the associated risks. Specific policy details and the effective date are yet to be announced.

Market reaction: Following the news, the stock prices of cryptocurrency exchange ticket issuers have risen. Some investors welcome this, believing it will provide them with more investment options. However, others are concerned that once the policy is implemented, it may lead to a rush of retail investors, exacerbating market volatility.

Expert opinion: Cryptocurrency analyst Richard Sheldon stated: "The FCA's move aims to balance the relationship between investor protection and market development. Allowing retail investors to participate in the cETNs market will help improve the liquidity and transparency of the cryptocurrency market." Meanwhile, CryptoUK chairman Ian Taylor believes: "The FCA should ensure that investors fully understand the risk characteristics of cETNs and take appropriate disclosure and education measures."

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Syamovip
· 08-05 04:06
Hold on tight 💪
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GateUser-d94ad8c4vip
· 08-02 20:55
HODL Tight 💪
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GateUser-d94ad8c4vip
· 08-02 20:55
nice
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GateUser-c7bed739vip
· 08-02 18:08
Ape In 🚀
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GateUser-e276ac07vip
· 08-02 11:34
2025 Go Go Go 👊
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GateUser-e276ac07vip
· 08-02 11:34
GT is king 👑
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GateUser-e276ac07vip
· 08-02 11:34
Quick, enter a position!🚗
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