According to BlockBeats, on July 11, Onchain Lens monitoring revealed that a wallet belonging to Bharat Krymo (@krybharat) recently opened a 3x leveraged long position of 1 million CASHCAT (approximately $192,200) on Hyperliquid.

The wallet address's historical cumulative profit and loss is currently $11.44 million.

According to BlockBeats, on July 11, Alex Thorn, Head of Research at Galaxy, posted on social media that the Bitcoin Policy Institute (BPI) has officially filed a motion to intervene in the high-profile "Noah Doe" case and participate as a defendant in the litigation. BPI stated that its application was filed in accordance with the relevant provisions of the New York State Code of Civil Procedure and Rules, and that it had not previously filed a similar application with any court on this matter.

According to the submitted documents, BPI, in its proposed response, completely denies the main allegations in the plaintiff's complaint, only acknowledging that the plaintiff is seeking a declaratory judgment through this case. Regarding the other allegations, BPI either denies them or states that it lacks sufficient information to form a judgment. BPI also states that it was founded in 2021 and is a nonpartisan, nonprofit organization headquartered in Washington, D.C., focused on researching the policy and social impacts of Bitcoin and emerging currency networks, conducting its research independently and unaffected by industry participants such as cryptocurrency companies or trading platforms.

The case has garnered significant market attention due to the involvement of anonymous individuals attempting to gain legal control over a large amount of Bitcoin allegedly belonging to Satoshi Nakamoto. With BPI's application to become a defendant, the agency stated it will oppose the plaintiffs' claims and push the court to dismiss the entire lawsuit.

According to a report by CCTV Finance on July 11, BlockBeats stated that industry insiders said that in the history of the memory chip industry, whenever there is a boom, manufacturers tend to expand their production capacity simultaneously, leading to a concentrated release of new capacity, a sharp drop in prices, and losses across the entire industry. Subsequently, manufacturers collectively reduce capital expenditures, and when demand recovers, another boom occurs – this cycle constitutes the industry's unique cyclical nature.

Since hitting a high in late June, US memory chip stocks have experienced a collective pullback due to concerns about a computing power glut, fueled by news such as Meta's sale of computing power. Data shows that industry leaders such as SanDisk, Micron Technology, Seagate Technology, and Western Digital have all seen their share prices fall by more than 20% in the past few weeks.

Analysts point out that the underlying logic supporting the current demand for memory chips is facing a reassessment, with the core variable being whether the technological gap between various AI big data models will continue to narrow. Analysts also note that the memory chip industry is undergoing a profound change in its business model: in the past, memory was more like a commodity, with prices fluctuating with the market, and contracts were mostly on a quarterly or annual basis; now, cloud vendors and AI data centers are increasingly signing long-term supply agreements with original equipment manufacturers (OEMs) for three to five years, including price ranges, minimum purchase quantities, and customer deposits, in order to secure critical supplies.