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Zcash founder Zooko posted that Zcash has issued over 8 million dollars in retroactive grants this round, with millions of dollars awarded to those who contributed to protecting all users during this year's AI vulnerability crisis.The more significant meaning of this funding is that Zcash once again proves that its self-funding and self-governance system is sustainable, resistant to capture, and capable of continuous evolution. Zcash will conduct multiple rounds of similar funding every year in the future while continuously improving the mechanism.

Nathan Allman, the founder of Ondo Finance, suddenly passed away in May this year at the age of 32 without leaving a will. His parents, Kathleen Allman and Lawrence Allman, inherited the estate, including a controlling stake in Ondo and a large number of ONDO tokens. Subsequently, Kathleen Allman sued acting CEO Ian De Bode, accusing him of attempting to seize control of the company and arranging a compensation package of approximately $11 million for himself.Now, this inheritance crisis has escalated further. Nathan's half-sister, Lani Clinton, a medical professor at Duke University, along with Ondo investor David Chen, has applied to the Hawaii court for limited oversight of Kathleen Allman's share of the estate, accusing her of having a long-term alcohol use disorder and progressive cognitive impairment, as well as engaging in extravagant behavior. Documents show that Kathleen had purchased a yacht worth about $4 million, requested the company to cover six-figure charter costs, and stayed at hotels costing about $4,000 per night. Her son also purchased a $18.5 million beachfront residence for his parents in June 2025.Kathleen Allman, through her lawyer, denied the above allegations, stating they are unfounded, and claimed that the application was made by associates of De Bode, representing a last-ditch effort after his attempt to seize power in the Delaware Chancery Court failed. Ondo Finance declined to comment.

The Chair of the Financial Stability Board and Governor of the Bank of England, Andrew Bailey, warned G20 finance ministers and central bank governors that cybersecurity threats posed by cutting-edge AI models are significantly increasing the risk of a financial system collapse. Bailey stated that the global financial system is already strained due to energy-driven inflation pressures, a high interest rate environment, and rising investment leverage, and that the involvement of AI risks will exacerbate this pressure.Bailey pointed out that financial institutions and tech giants must prepare for extreme scenarios, as existing financial defense systems will face severe tests if there are synchronized disruptions involving multiple institutions or shared technology dependencies. He mentioned that models tested by labs such as Anthropic and OpenAI have demonstrated the ability to simulate attacks on external organizations and create false identities, and he suggested developing bare-metal backup systems that are completely physically isolated from the main network.Bailey also listed threats that could trigger disorderly market adjustments, including the fragile state of stock market valuations driven by the AI boom, weakness in the sovereign debt market and private credit sector, and investors continuously increasing leverage in the stock market.

According to Digital Asset, South Korean cryptocurrency exchange Bithumb won the first instance of a lawsuit regarding the "misissued Bitcoin" incident, with the court ruling that users who sold the misissued Bitcoin must return approximately 194 million won (about 145,000 USD).In February of this year, Bithumb faced a huge controversy after erroneously distributing 620,000 Bitcoins (worth about 5 billion USD at the time) as activity rewards. Subsequently, Bithumb initiated a recovery program and reported in March that 99% of the misissued Bitcoins had been recovered. This ruling is the first in four lawsuits filed against users who have not returned the funds, and the likelihood of Bithumb winning the subsequent three lawsuits has also increased. The basis for the court's ruling and whether the defendants will appeal have not yet been disclosed.

Morphic Financial Group founder and CEO Mateusz Kara wrote in CoinDesk that the MiCA transition period ended on July 1, and the Polish Ministry of Finance confirmed that existing virtual currency registrations no longer constitute a legal basis for VASP or CASP operations. Crypto services can only be provided by entities holding valid MiCA authorization. Poland previously had about 2,000 registered virtual asset service providers, but a domestic political deadlock prevented the establishment of a viable authorization pathway. Germany issued 57 licenses, France and the Netherlands each issued 26, while Greece, Hungary, Poland, and Romania collectively issued zero.Kara stated that Polish investors hold about 9.4 billion euros in digital assets, and the relocation of businesses will lead to the loss of compliance teams, capital, and investments, with rebuilding the ecosystem potentially taking years. The compliance costs for MiCA can reach up to 700,000 euros, and serious violations could face fines of several million euros, narrowing the space for small participants. However, he believes that MiCA will be beneficial for the European crypto industry in the long term, as accelerated consolidation will eliminate weak operators and create a safer market. The UK's FCA is also launching a similar system, but Poland may become a sales market for others rather than an active participant in European digital finance construction.

According to CoinDesk, Fairmint CEO Joris Delanoue stated that the boom in tokenized stocks may replicate a digital version of Wall Street's "paper crisis" from the late 1960s. At that time, trading volume in U.S. stocks surged, overwhelming the back office that relied on paper stock certificates, leading to an increase in settlement failures. The New York Stock Exchange even closed on Wednesdays to clear the backlog, ultimately driving infrastructure reforms such as central depositories and custodial trust companies.Delanoue mentioned that the main issue is whether the crisis is being recreated in a digital manner. Exchanges, special purpose vehicles (SPVs), token packaging, and proprietary ledgers may sever ownership records during the growth of tokenized stocks. Some products only provide economic exposure to the underlying stocks rather than legal ownership, and investors may rely on intermediaries, facing uncertainties regarding voting rights, dividends, and asset claims when issuers or SPVs encounter problems. The global market for tokenized stocks has grown from less than $500 million at the end of the first quarter to approximately $2 billion.

Ray Dalio, the founder of Bridgewater Associates, warned that the annual budget deficit in the United States has reached $2 trillion, with approximately $10 trillion in debt needing to be refinanced. If the current trajectory is not changed, a debt crisis could arrive "within three years, with a two-year margin of error."In terms of asset allocation, Dalio advises investors to reduce their bond holdings to avoid debt risks; increase their allocation to gold, raising it to 10% to 15% of their portfolio; and hold a small amount of Bitcoin to hedge against government credit risk. Dalio also calls for the U.S. to reduce the budget deficit from the current level of about 6% of GDP to 3%, through measures including cutting spending, increasing taxes, and lowering interest rates.As a result of these statements, gold prices surged to their highest level since May on Friday, and Bitcoin broke through $77,000, marking the largest weekly increase since 2023.

The United States plans to withdraw all troops from Iraq by September 30, ending its military presence in Iraq since the invasion in 2003, and Iraqi forces will take full responsibility for combating the "Islamic State" (ISIS).

According to Jinshi reports, affected by the dual impact of geopolitical conflicts and the strong El Niño disrupting global rainfall patterns, core agricultural costs such as crude oil and fertilizers are soaring, brewing a "perfect storm." A new round of global food inflation crisis may fully erupt from the end of this year to next year.

According to Jinshi reports, North Korean military commentators pointed out that the US, Japan, and South Korea are strengthening their joint operational capabilities through military exercises, forming a "trinity" threat that could become a new security crisis in the Asia-Pacific region. The US and South Korea conducted exercises in July, carrying out large-scale "joint logistics support exercises." The US is also accelerating the reorganization of the US military command in Japan into a "joint military command" and deploying medium-range missile systems in Japan and South Korea. All parties should be vigilant and curb this trend.

Nick Tomaino, founder of 1confirmation, commented on the AI investment fund Situational Awareness regarding the recent discussions surrounding the fund, reflecting a long-standing issue in the investment community: many so-called "elites" and "smart money" lack basic risk judgment capabilities.Tomaino stated that he does not understand all the details of the incident and does not wish to comment on the specific liquidation process, but he believes that a deeper issue is that many investors, driven by wealth and attention, gradually ignore facts, risks, and judgments about others.He cited the collapse of FTX as an example, noting that many people could sense something was off after brief interactions with the founder, but a large amount of "smart money" chose to continue investing and endorsing it in pursuit of returns and market narratives.Tomaino pointed out that the founders of Situational Awareness and the investment circles supporting the fund exhibited similar phenomena: investors of the same type chased grand narratives, provided funding, and promoted publicity, but ultimately the fund fell into trouble due to high-risk bets and market reversals. Industry participants learned lessons to avoid repeating the cycle of "chasing trends—ignoring risks—collectively stepping on landmines."

According to Jinshi reports, Federal Reserve Chairman Waller stated that the balance sheet should be as small as possible so that it can be expanded during a crisis.

According to Jinshi reports, the Iranian Revolutionary Guard stated that the continued intervention by the United States in the Strait of Hormuz will lead to more serious incidents in the global oil and gas sector.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has added 134 cryptocurrency wallet addresses belonging to the terrorist organization ISIS-K to the Specially Designated Nationals sanctions list. The stablecoin issuer Tether has frozen the funds of 131 of these Tron addresses, while the remaining 3 sanctioned addresses are located on the Monero network. Since 2023, these 131 Tron addresses have received over $1.4 million in cryptocurrency donations and have sent out over $880,000.