8.12 AI Daily Report Crypto Assets market fluctuates, industry regulation becomes increasingly clear.

1. Headlines

1. Nvidia and AMD agree to pay 15% of their AI chip sales revenue in China as an export tax.

According to informed sources, to obtain U.S. government export licenses for China, NVIDIA and AMD agreed to pay 15% of their revenue from the sale of AI chips H20 and MI308 in China to the U.S. government. This move aims to balance U.S. control over technology exports to China with companies' commercial interests in the global market.

Nvidia and AMD are the world's leading AI chip manufacturers, with their products widely used in artificial intelligence, machine learning, and data centers. The conclusion of this agreement marks the U.S. government's strengthening of restrictions on the transfer of key AI technologies to China, while also setting a precedent for similar measures in the future.

Analysts point out that this decision will have a profound impact on the global AI industry landscape. On one hand, it will increase the cost for Chinese companies to acquire advanced AI chips, which may hinder China's progress in the AI field; on the other hand, it will also prompt China to accelerate the research and development of independent and controllable chips, reducing dependence on American technology.

In addition, this move may also trigger other major technological powers to follow suit by imposing a "technology export tax" to protect their own technological advantages, thereby exacerbating the decoupling and confrontation in the global technology sector. In the long run, this trend of "de-globalization" will pose significant challenges to the supply chains and innovation environment of the technology industry.

2. ChatGPT's computing power will double in 5 months, prioritizing the needs of paying users.

OpenAI founder Sam Altman stated on social media that, given the increasing demand for GPT-5, OpenAI will double its computing power in the next 5 months. He revealed that the company will prioritize meeting the needs of existing paid ChatGPT users, followed by API partners, then improving the service quality of the free version of ChatGPT, and only then consider new API demands.

This decision reflects OpenAI's trade-offs in the allocation of AI computing resources. On one hand, the company needs to ensure the service quality for existing paid users and partners to maintain commercial revenue; on the other hand, it must also consider the experience of free users to expand the product's influence.

Analysts believe that OpenAI's move aims to address the surge in computing power demand from large language models like GPT-5. As a leader in the AI field, OpenAI needs to seek a balance between computing power investment and commercial interests to avoid uneven resource allocation that could lead to user loss.

At the same time, this also highlights the enormous capital requirements for AI companies in infrastructure development. In the future, AI companies will have to increase their investment in computing power to meet the increasingly complex training demands of AI models, which may exacerbate the industry's capital burn.

3. Dogecoin's upward momentum faces setbacks, analysts warn that the $1 target may be difficult to achieve.

Renowned cryptocurrency analyst VisionPulsed has released a latest report, lowering the optimistic expectations for Dogecoin (DOGE) to hit the $1 target. The report points out that achieving this goal requires precise adjustments in market forces, which are not yet mature.

Dogecoin, as a meme coin, has significant price fluctuations and is often influenced by speculative sentiment and marketing activities. VisionPulsed believes that to push DOGE to break through the $1 barrier, three conditions need to be met: first, the involvement of large institutional funds; second, support from mainstream exchanges; and third, the expansion of real use cases.

The report analysis indicates that currently, DOGE lacks participation from large institutional investors and is mainly a game chip for retail investors. In addition, mainstream exchanges are also relatively cautious in their support for Meme coins. Finally, DOGE currently has limited practical use cases and is primarily a "for fun" digital token.

Analysts point out that the price of Meme coins often deviates from the fundamentals and relies more on market sentiment. To achieve the goal of DOGE reaching 1 dollar, the entire cryptocurrency market needs to enter a bull market, while also gaining recognition and support from mainstream institutions.

However, there are also viewpoints that believe the development of Meme coins is evolving towards multifunctionality, and in the future, it may expand to more practical uses, which will lay the foundation for the long-term value growth of DOGE.

4. Crypto scams hit American and Mexican investors hard, with over $300 million involved.

A cryptocurrency scam related to the decentralized finance platform Terablock has caused more than 1,200 investors in Mexico and the United States to lose all their investments, with authorities estimating the losses to exceed $300 million.

According to reports, Terablock has been promoting its stablecoin USDC with an investment return rate of up to 15% since 2019, attracting a large number of investors. However, the platform is actually a Ponzi scheme that relies on continuously bringing in new investors to pay returns to early investors.

Authorities pointed out that the scam exploited the decentralization and anonymity of cryptocurrency, evading regulatory scrutiny. The scammers lured investors into repeatedly increasing their investments through false advertising and high return rates.

Analysts say that this incident once again exposes the regulatory loopholes in the cryptocurrency sector. Due to the lack of effective regulation, criminals can exploit the technical characteristics of cryptocurrencies to carry out fraudulent activities on a global scale.

In addition, the speculative psychology of some investors and their pursuit of high returns have also provided a breeding ground for scams. Experts urge cryptocurrency investors to raise their risk awareness, be cautious of inflated return promises, and choose platforms with a good reputation.

5. Ethereum breaks through $4000, with institutional buying and favorable regulations providing dual support.

Driven by institutional buying and favorable regulatory conditions, the price of Ethereum has broken through the $4000 mark, reaching a new high since the end of 2021. Data shows that the on-chain activity of Ethereum has also reached an all-time high in the past 24 hours, with a daily trading volume exceeding 1.8 million transactions, and over 30% of the supply has been staked.

Analysts say that the current surge is mainly driven by two factors: first, the large-scale buying by institutional investors, including hedge funds and quantitative funds, which are increasingly investing in Ethereum; second, the U.S. Securities and Exchange Commission's ruling that liquid staking tokens do not fall under the category of securities, bringing significant regulatory benefits to the industry.

The involvement of institutional buying not only provides financial support for Ethereum but also highlights institutions' optimism about Ethereum's long-term prospects. At the same time, the enhancement of regulatory clarity helps boost market confidence and attract more capital inflow.

However, some analysts remain cautious about Ethereum's upward momentum. They point out that while breaking through the $4000 mark is an important psychological barrier, Ethereum still faces resistance at the historical highs of $4430 and $4860. Only by successfully breaking through these key levels can a new upward space truly be opened.

Overall, Ethereum's current market performance has received dual support from both fundamental and capital aspects, and its future performance is worth continuous attention. However, investors should also be wary of potential correction risks and remain cautious in their operations.

2. Industry News

1. Bitcoin once again hits the historic high of $122,000, market sentiment is high.

On August 12, the price of Bitcoin once again surged towards its historical high, reaching a peak of $122,320 during the session, just a step away from the previous high of $123,223. This round of increase was mainly driven by positive news regarding the Trump administration easing regulations on cryptocurrencies and the Federal Reserve's expectations of an interest rate cut in September.

Analysts point out that after Bitcoin broke through the $120,000 threshold, funds have continued to flow into the cryptocurrency market, driving prices further upwards. However, it is also necessary to be cautious of the pullback risks brought about by a rapid rise. If Bitcoin can gain effective support above $120,000, it will lay the foundation for further exploration of the historical high of $123,000.

According to exchange data, the daily trading volume of Bitcoin has increased by 10.5% compared to the previous day, reflecting an increase in market activity. However, a large amount of short liquidity has gathered above $121,000 and below $119,000. If the price fluctuates within this range, it may trigger a concentrated liquidation risk.

Overall, Bitcoin is expected to oscillate around the range of $120,000 in the short term, and investors need to closely monitor the impact of important events such as the US CPI data on the market. If inflation data exceeds expectations, it may dampen market expectations for the Federal Reserve to cut interest rates twice this year, thereby triggering a Bitcoin correction.

2. Ethereum breaks through the $4300 mark, institutional holdings continue to expand.

Ethereum broke through the key resistance of $4300 on August 12, closing strong. This upward trend is attributed to multiple favorable factors, including the continuous increase in Ethereum ecosystem activity, institutional investors continuing to accumulate, and the ongoing warming of the altcoin sector.

Data shows that the activity of Ethereum whales has significantly increased in the past 24 hours, with the accumulation area reaching $946.6 million. At the same time, 70 Ethereum reserve entities collectively hold ETH worth over $15 billion, with institutional influence continuously expanding and market impact increasingly strengthening.

Analysts believe that the upward momentum of Ethereum may continue, with a mid-term target looking at $4,500. Once it firmly stands above the key range of $4,500, it could trigger a new round of "altcoin season," driving the entire crypto market to heat up again.

However, some analysts have warned that despite outperforming the overall market in the past 30 days, data from derivative contracts shows that Ethereum investor sentiment has not fully turned bullish. If significant negative news arises, Ethereum still carries a risk of a pullback.

3. The Solana ecosystem continues to heat up, and the SOL price is expected to break through the $200 barrier.

The Solana ecosystem continues to heat up, becoming the focus of the market. Analysts believe that it is only a matter of time before the price of SOL breaks through $200, and investors can seize the current opportunity to position themselves.

Data shows that the activity level of the Solana ecosystem continues to rise, with new projects constantly emerging. Among them, AI concept projects are particularly eye-catching, such as GraphAI, which has a market value exceeding $40 million, setting a new historical high.

At the same time, the Solana ecosystem tokens have also seen a general rise. Analysts point out that Solana offers multiple opportunities for investors, and if the price of SOL can break through the $200 mark, it may trigger further increases.

However, some analyses remind us that the high popularity of the Solana ecosystem also brings certain risks. The risks of single asset exposure, the risk of equity credit dilution, and the competitive pressure in the Layer 1 track constitute a threefold challenge to its aggressive strategy. Investors need to carefully manage risks.

4. The altcoin sector continues to strengthen, with PEPE, DOGE, and others in high demand.

While Bitcoin and Ethereum are leading the charge, the altcoin market continues to strengthen. Popular altcoins such as PEPE and DOGE are seeing their prices rise continuously, with trading volumes increasing significantly.

Analysts believe that the continued heating of the altcoin sector is mainly due to the strong performance of the Ethereum mainnet. The increased activity of the Ethereum mainnet has driven the development of the altcoin ecosystem, with projects like PEPE combining cultural appeal with strong technology to provide compelling value propositions.

However, some analysts warn that the altcoin market has a high degree of speculation and experiences significant price fluctuations. Investors should be cautious in managing risks and pay attention to diversifying their investments.

Overall, the cryptocurrency market is currently in a bull market phase, with various sectors continuing to heat up. However, it is also important to be wary of the risks brought by excessive speculation, and to approach investment rationally and cautiously.

3. Project News

1. Sui Network: The new rising star of the Move ecosystem accelerates its rise, with abundant and diverse on-chain assets.

Sui Network is a brand new Layer 1 blockchain developed by Mysten Labs, aimed at providing high-performance, low-cost infrastructure for Web3 applications. The project uses the Move programming language, which, like Aptos and Diem, originates from Meta's Diem project.

Latest news: Sui Network officially launched its mainnet in May this year and introduced its first Move virtual machine in June. Recently, the project launched the SuiPlay gaming platform, occupying the largest booth at the KBW gaming exhibition in South Korea. In addition, several popular projects have emerged within the Sui ecosystem, such as Cetus, Navi, and Scallop.

Market Impact: As one of the most active public chains in the Move ecosystem, the development of Sui Network will promote the prosperity of the entire Move ecosystem. Its high performance and low-cost characteristics are expected to attract more developers and projects, thereby enriching the application scenarios of the Move ecosystem. At the same time, the diversification of assets on the Sui chain will provide investors with more options.

Industry feedback: Analysts believe that the technological advantages and ecological construction of Sui Network are promising. However, there are still relatively few Sui ecosystem tokens available for trading, and more star projects are needed to enhance overall vitality. Meanwhile, Sui also needs to strengthen its community marketing efforts to increase its visibility and influence.

2. Aptos: A new player in the Move ecosystem created by former Meta engineers.

Aptos is a Layer 1 blockchain that uses the Move programming language, created by former Meta (Facebook) engineers. The project aims to build a high-performance, secure, and scalable blockchain infrastructure.

Latest Update: Aptos officially launched its mainnet in October 2022 and introduced the governance token APT in March this year. Recently, the project announced a collaboration with Paypal to explore the possibility of building payment infrastructure on the Aptos network. In addition, several popular projects have emerged in the Aptos ecosystem, such as Martian, Souffl3, and Topaz.

Market Impact: As one of the most watched public chains in the Move ecosystem, the development of Aptos will inject new vitality into the entire ecosystem. Its high performance and security are expected to attract more enterprise-level applications, thereby promoting the commercial application of the Move ecosystem. At the same time, the diversification of Aptos ecosystem tokens will provide investors with more choices.

Industry Feedback: Analysts believe that Aptos, with its outstanding technical strength and top-notch development team, has broad development prospects in the Move ecosystem. However, the project still needs to strengthen its efforts in community marketing and ecosystem development to enhance its visibility and influence. At the same time, the overall development of the Move ecosystem will also determine the future direction of Aptos.

3. Movement: Move "invisible champions" in the ecosystem

Movement is a Layer 1 blockchain project based on the Move programming language, created by former employees of Mysten Labs. The project aims to provide high-performance, secure, and scalable infrastructure for Web3 applications.

Latest update: Movement is currently still in the development stage and has not yet officially launched its mainnet. However, the project has already attracted significant attention and received investments from well-known institutions such as Polychain Capital and Multicoin Capital. Recently, the Movement team has been intensifying its development work and plans to launch the mainnet within this year.

Market Impact: As a part of the Move ecosystem, the development of Movement will inject new vitality into the entire ecosystem. If the project can successfully launch and demonstrate excellent performance, it is expected to attract more developers and projects to settle in, thereby enriching the application scenarios of the Move ecosystem. At the same time, Movement will also provide investors with new investment targets.

Industry Feedback: Analysts believe that although Movement is currently in a relatively low-profile state, its technical strength and team background are promising. However, the project will still face a fierce competitive environment after its launch, needing to demonstrate unique advantages in performance, security, and ecological development. At the same time, the overall development of the Move ecosystem will also determine the future direction of Movement.

4. Economic Dynamics

1. The expectation of a Federal Reserve rate cut in September is challenged as inflationary pressures persist.

Economic Background: The U.S. economy performed strongly in the first half of 2025, with a GDP growth rate of 3.2% and an unemployment rate maintained at a low of 3.5%. However, inflationary pressures remained high, with the consumer price index in July rising 3.2% year-on-year, exceeding market expectations.

Important event: In its latest research report, the U.S. Bank warns that the Federal Reserve should refrain from the impulse to cut interest rates at the September policy meeting. The bank emphasizes that policymakers who support an interest rate cut underestimate the impact of labor supply shocks and the persistence of inflation, as the current inflation rate remains above the Federal Reserve's target level of 2%. In addition, the latest tariff increase may have a more severe and lasting impact on prices.

Market reaction: The warning from the U.S. bank challenges the market's expectations for a rate cut by the Federal Reserve in September. Investors are starting to reassess the inflation outlook, and bond yields have risen slightly. The dollar index briefly rose after the news was released. The stock market showed divergence, with inflation-sensitive stocks declining, while technology and financial stocks increased.

Expert Opinion: Goldman Sachs Chief Economist Jan Hatzius stated that despite the slowdown in economic growth, the labor market remains tight, wage pressures continue, and inflationary pressures are difficult to completely dissipate. He expects the Federal Reserve to hold steady in September, continuing to assess economic data, and that a slight rate cut cycle may only begin by the end of the year.

( 2. China's export data in July is strong, and the trade surplus has widened.

Economic background: China's economy maintained moderate growth in the first half of 2025, with a year-on-year GDP growth of 5.1%. Exports are the main driving force of the economy, while manufacturing and consumption data are relatively weak.

Important Event: Data released by the General Administration of Customs of China shows that exports in July increased by 12.6% year-on-year, significantly exceeding expectations. This is mainly due to strong growth in exports to the United States and ASEAN countries. Meanwhile, imports decreased by 6.8% year-on-year, further expanding the trade surplus to 105 billion USD.

Market reaction: The stronger-than-expected export data is encouraging, and the RMB/USD exchange rate has slightly increased. The A-share market is showing divergence, with foreign trade-related sectors rising while domestic demand-related sectors are falling. Bond yields have slightly increased.

Expert Opinion: Liu Yuanchun, Director of the Chongyang Institute for Financial Studies at Renmin University of China, stated that export data reflects the competitiveness and resilience of China's manufacturing sector. However, it also warns that the issue of insufficient domestic demand still exists, and the government needs to take further measures to stimulate domestic consumption. HSBC Greater China economist Qu Hongbin believes that the expansion of the trade surplus will ease the depreciation pressure on the RMB, but it also intensifies the risk of trade friction between China and the United States.

) 3. The European Central Bank raises interest rates by 25 basis points, pledging to continue fighting inflation.

Economic Background: The eurozone economy fell into a slight recession in the first half of 2025, with GDP decreasing by 0.2% year-on-year. The unemployment rate rose slightly to 7.1%, but the inflation rate soared to 3.5%, well above the European Central Bank's target of 2%.

Important event: The European Central Bank decided to raise interest rates by 25 basis points at its policy meeting in August, marking the ninth consecutive rate hike. ECB President Lagarde promised at a press conference to continue taking decisive action to curb inflation expectations until the inflation rate returns to the target range of 2%.

Market reaction: European stock markets fell slightly after the European Central Bank raised interest rates, while the euro against the dollar rose slightly. German bond yields increased by 5 basis points. Investors generally believe that the European Central Bank's hawkish stance will continue.

Expert Opinion: Mark Wall, Chief Eurozone Economist at Deutsche Bank, believes that the European Central Bank's pace of interest rate hikes may slow down due to a bleak economic outlook. However, he also points out that the pace of declining inflation is slow, and the European Central Bank may need to raise interest rates to above 4%. Renaud Thomas, Chief Eurozone Economist at Crédit Agricole, believes that the European Central Bank should pause interest rate hikes in September to assess economic trends.

5. Regulation & Policy

1. Chair of the U.S. Securities and Exchange Commission: Settlement with Ripple case promotes the establishment of a clear regulatory framework

The long-standing dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple has finally come to an end. SEC Chairman Atkins stated that the resolution of this case creates an opportunity to establish a clear regulatory framework, allowing focus to shift from the courtroom to policy-making, while protecting investors and promoting innovation.

The lawsuit between the SEC and Ripple began in 2020, with the SEC accusing Ripple of raising over $1.4 billion through the sale of XRP tokens without registering them as securities. The two sides fiercely clashed in court for several years, ultimately reaching a settlement. According to the settlement terms, Ripple will pay a fine of $368 million, but the SEC did not classify XRP as a security.

This case has sparked extensive discussions on cryptocurrency regulation. Cryptocurrencies are an emerging asset class, differing in nature from traditional securities, making it difficult for existing regulations to comprehensively cover them. Industry insiders believe that the settlement between the SEC and Ripple paves the way for the establishment of a clear cryptocurrency regulatory framework, helping to create a more transparent and secure environment for investors.

Faryar Shirzad, the Chief Policy Officer of the cryptocurrency exchange Coinbase, stated: "We welcome the SEC's settlement with Ripple. This creates an opportunity to establish a clear regulatory framework for cryptocurrencies, benefiting the long-term development of the industry."

2. The Hong Kong Monetary Authority has issued the "Regulatory Guidelines for Licensed Stablecoin Issuers".

The Hong Kong Monetary Authority recently officially released the "Regulatory Guidelines for Licensed Stablecoin Issuers", aimed at standardizing the operations of stablecoin issuers, preventing financial risks, and ensuring investor rights and the stability of the financial system.

The "Guidelines" are the core documents implemented in conjunction with the "Stablecoin Regulations." They clarify the prudential regulatory requirements for stablecoin issuers, including capital adequacy ratios, reserve asset management, and operational risk management. Issuers must fully reserve the stablecoins issued, and the reserve assets must meet specific standards, such as high liquidity and low risk.

The Hong Kong Monetary Authority stated that the "Guidelines" aim to create a favorable environment for the development of stablecoins while ensuring that relevant risks are effectively managed. Stablecoins are seen as an important link between crypto assets and the traditional financial system, which is crucial for Hong Kong's development as a leading fintech center.

The chairman of the Hong Kong FinTech Association, Deng Weixiong, believes that the "Guidelines" provide a clear compliance path for stablecoin issuers, which will help attract more companies to issue stablecoins in Hong Kong and promote the city as a stablecoin hub in Asia.

However, industry insiders also point out that the requirements for reserve assets in the "Guidelines" are relatively strict, which may increase the operational costs for issuers. How to balance risk control and promote innovation in the future still needs further discussion.

3. The White House plans to impose fines on banks that refuse service, sparking heated discussions in the financial and political circles.

The White House is brewing an executive order that intends to impose fines on banks that refuse to provide services for political reasons, sparking heated discussions in the financial and political circles.

According to informed sources, this executive order aims to penalize institutions that refuse to provide banking services to specific individuals or businesses based on political stance. The White House believes that this "de-banking" phenomenon is widely affecting conservative groups and is contrary to the principle of fair service in financial institutions.

The news immediately triggered a strong backlash in the financial industry. Rob Nichols, president of the American Bankers Association, stated that banks have the right to refuse customers based on their own risk assessments, and the government has no right to intervene. "This is a serious infringement on the commercial autonomy of financial institutions."

However, some experts believe that certain banks do have suspicions of political discrimination. John Coffee, a law professor at Columbia University, believes that the executive order is reasonable and legal, and helps to maintain the fairness and neutrality of the financial system.

It is worth noting that this move may affect the banking services of cryptocurrency companies. Due to the emerging nature of cryptocurrencies, many banks are cautious about them. Once the executive order is implemented, banks may face greater regulatory pressure and cannot refuse to provide services to crypto companies for political reasons.

Overall, this trend reflects the government's aim to strengthen regulation of the financial industry, but it has also raised questions and concerns from the industry. Finding a balance between maintaining fairness and protecting business autonomy will be a topic worth paying attention to.