Vance: The US will release the text of the US-Iran agreement this week, stating that Iran "must comply with the agreement to receive sanctions relief."
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The US-Iran peace agreement has released a large amount of crude oil supply, reigniting concerns about a global supply glut.
Odaily Odaily reports that with the US-Iran peace agreement releasing a large supply, oil prices have fallen across the board, with demand unable to absorb the impact, reigniting discussions about a crude oil oversupply. This is a stunning reversal; less than three months ago, major global physical crude oil benchmark prices hit record highs; and just weeks ago, senior industry executives were warning that global inventories had fallen to extremely low levels due to the Iranian crisis. In addition to the immediate impact of the reopening of the Strait of Hormuz, analysts from institutions such as Morgan Stanley and Goldman Sachs have warned this week of the risk of a supply glut next year. "The overwhelming sentiment in the market right now is bearish," said Kit Haynes, head of oil research at energy consultancy Energy Aspects. Even before the US and Iran signed a memorandum of understanding in mid-June to reopen the Strait of Hormuz, suppliers in the Persian Gulf were already increasing shipments. In the weeks following the agreement, more than 60 million barrels of crude oil stranded due to the outbreak of war flooded the market. (Jinshi)
Doha negotiators have reached a preliminary agreement to release $3 billion to Iran.
According to BlockBeats, on July 1, Israel's Channel 12, citing Saudi media reports, reported that the Doha negotiators have reached a preliminary agreement to release $3 billion to Iran.
EthLabs released its "Week2" update report, highlighting progress on Ethereum interoperability, PropAMMs, and funding.
According to Mars Finance, on July 6th, Barnabé Monnot (barnabé.eth), founder of EthLabs, released a "Week 2" update, summarizing the team's latest progress and ecosystem discussions during the launch and fundraising phases. Regarding interoperability, the team stated they are increasing their confidence in "asynchronous interoperability based on zero-knowledge proofs (zk)," believing this will help build more secure cross-chain bridges and improve the native distribution capabilities of assets across Ethereum's multi-layered network. Currently, some cross-chain paths still suffer from latency issues, especially in the L2→L1 direction; in this context, the intents mechanism can serve as a transitional solution, while sufficient L1 liquidity also helps match cross-chain solvers. Meanwhile, the L1→L2 path is expected to significantly reduce confirmation latency through the Fast Confirmation Rule (FCR), and some clients have already begun integrating this mechanism. In terms of ecosystem discussions, PropAMMs (proposal-based AMMs) have recently become a focus of attention for many teams and researchers, primarily due to their potential optimization space between L1 execution efficiency and transaction building. Meanwhile, ENS is emphasized as a "critical infrastructure for Ethereum," and the team continues to communicate with relevant stakeholders to advance its development direction. Regarding team building, Ethlabs has received over 300 applications and has processed approximately 20%. The short-term goal is to expand to approximately 10 people, and the medium-term goal is to expand to approximately 20 people, focusing on recruiting talent with engineering capabilities and domain expertise. Regarding funding, Ethlabs stated that its current funding round is nearing completion and has secured early support from BitMNR, Sharplink, and Ethereum Joseph. The plan is to bring in 1-2 more core investors before moving to the next stage.
GPT-5.6 is rumored to be available next week, while the Gemini 3.5 Pro, featuring 2M context, will be released later.
According to Beating, tech blogger leo revealed that OpenAI may release GPT-5.6 to the public between July 7th and 9th, with the earliest possible release date being July 7th. The new model package will have more lenient pricing, and OpenAI has also strengthened its security measures before the launch. Google DeepMind's Gemini 3.5 Pro is rumored to be tentatively scheduled for release on July 17th. Another blogger, Astro Polo, claims that Gemini 3.5 Pro will support a 2 million token context window, double the current 1 million token context window of Claude Sonnet 5, Claude Opus 4.8, and Claude Fable 5, making it more suitable for handling long codebases, large documents, and long conversations.
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.
US media reveals inside story of the US-Iran ceasefire agreement: The Iranian president and central bank governor jointly urged the Supreme Leader to "sign it quickly."
According to a report by The New York Times on July 4th, citing four officials familiar with the details of the meeting, Iranian President Pezechzian visited Supreme Leader Mojtaba Khamenei during the final stages of negotiations when Khamenei hesitated to approve the preliminary ceasefire agreement. The Iranian president told the Supreme Leader that the economic situation was dire, the US naval blockade was strangling Iran, and he would resign if he rejected the agreement. Furthermore, the Governor of the Central Bank of Iran, Abdulnaser Hemmati, also wrote to Khamenei, stating that the country faced a severe budget crisis and that critical food and medical supplies would run out by the end of August if the naval blockade continued. Hemmati explained in the letter that Iran could not sell oil on the required scale or find alternative trade routes. These statements played a crucial role in Mojtaba's eventual decision to support the agreement. In a brief public statement, he stated that although he opposed the agreement "in principle," he instructed the president to proceed if he obtained the support of the Supreme National Security Council. Pezechzian stated that the council approved the agreement by 12 out of 13 votes.