Reflect announced a recovery plan for USDC+ position holders affected by the Drift hack.
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Data: A whale deposited 4 million USDC into Hyperliquid and opened a long position of 500 BTC.
According to Mars Finance, on-chain analyst Yu Jin monitored that before the US stock market opened, a whale transferred 4 million USDC to Hyperliquid to open a long position of 500 BTC at an average price of $62,911, with a position size of approximately $31.48 million and a leverage ratio of approximately 8x, indicating a high risk of liquidation. This address also holds 12,027 ETH in the spot market, purchased in March at an average price of $2,068, currently showing a floating loss of approximately $3.6 million.
ZetaChain holders approve plan to wind down L1, move ZETA to Solana
ZetaChain plans to wind down its Cosmos-based layer 1 and migrate ZETA to Solana, joining other crypto projects moving away from standalone chains.
SecondFi has released an update on the latest theft incident: "Isolation Mode" will be launched this week, and a secure wallet export function is planned for release next week.
PANews reported on July 8th that SecondFi, the Cardano wallet service provider, released an update on the latest theft incident, stating that an "isolation mode" will be launched this week, allowing users to check if their wallet address is involved in the incident and submit a support ticket. Next week, they plan to launch a secure wallet export function, providing a safer wallet migration path for users of different skill levels. SecondFi reiterated that it will provide potential asset recovery solutions for wallets confirmed to be affected through its process, expected to be through zero-knowledge proof-based recovery tools with defined eligibility and terms. The official statement also emphasized that they will not request private keys or seed phrase, and users should only operate through the official website support and designated checking tools.
SpaceX AI and Cursor plan to launch their first jointly developed AI model as early as Wednesday.
PANews reported on July 8th that, according to Reuters citing The Information, SpaceX AI and Cursor plan to launch their first jointly developed AI model as early as Wednesday. The report stated that the model was originally scheduled for release earlier this week but was delayed due to efficiency optimizations. The new model is expected to have rapid information processing capabilities and, in some aspects, compete with Anthropic's Opus 4.8 and OpenAI's GPT 5.5. In June, SpaceX announced its acquisition of Anysphere, the company behind the AI programming assistant Cursor, in a $60 billion all-stock transaction to strengthen its position in the AI tools market. SpaceX (formerly xAI) was acquired by SpaceX in February of this year, and SpaceX officially joined the Nasdaq 100 index this Tuesday.
Lingnan Holdings: Plans to acquire 85% stake in Guangdian City Services; stock resumes trading.
Mars Finance reported on July 7th that Lingnan Holdings announced its plan to acquire 85% of Guangdian Chengfu's shares from Shuke Group through a combination of share issuance and cash payment, and to raise supporting funds. The company's stock has been suspended from trading since June 24, 2026, and will resume trading on July 8th upon application. This transaction is subject to auditing and valuation, and requires approval from the board of directors, shareholders' meeting, state-owned assets supervision and administration departments, and the China Securities Regulatory Commission, and therefore involves uncertainties. (Company Announcement)
Yield Guild Games announced the closure of its game publishing division, YGG Play, and the layoff of 35 employees.
PANews reported on July 7th that Gabby Dizon, co-founder of the Web3 gaming guild Yield Guild Games (YGG), announced the closure of its game publishing division, YGG Play, affecting 35 positions. YGG will pay departing employees an additional eight weeks' salary during the transition period and assist them in finding new employment. The YGG Play platform and games such as LOL Land and Waifu Sweeper will continue operating until July 31st, after which they will be shut down. GIGACHAD BAT will move to delabs Official, while Ragnarok Breaker will continue to be operated by Planetarium HQ.