Crypto Morning Brief: U.S. Department of Commerce lifts export controls on Anthropic Fable 5 and Mythos 5 models, Meta is building cloud business to sell surplus AI compute resources
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Crypto Morning Brief: U.S. Department of Commerce lifts export controls on Anthropic Fable 5 and Mythos 5 models, Meta is building cloud business to sell surplus AI compute resources
Taiwan, China passed the "Virtual Asset Service Act," formally establishing the crypto regulatory framework.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Meta is Building a Cloud Business to Sell Its Surplus AI Computing Resources
Meta Platforms (META.O) is planning to establish an AI cloud infrastructure business, intending to sell AI computing power and model access services to external clients, potentially competing with Amazon Web Services, Microsoft Azure, and Google Cloud.
This plan is part of the internal "Meta Compute" project, aiming to convert its massive AI infrastructure investment into a revenue source and improve computing resource utilization efficiency. The relevant proposals are currently still under discussion, and the final strategy may be adjusted.
Possibly influenced by this news, Meta Platforms (META.O) pre-market gains once expanded to over 8%; CoreWeave (CRWV.O) fell 5.3% in pre-market trading.
Circle CEO Responds to OUSD: Core of Stablecoin Competition Lies in Platform Capabilities, Network Effects, and Compliance Infrastructure
Circle CEO Jeremy Allaire stated that stablecoin competition is essentially a long-term competition of platforms and network effects, core to which are application access, liquidity networks, and global compliance infrastructure. Citing Artemis data, he noted that in Q1 2026, USDC processed nearly $30 trillion in on-chain transactions, accounting for 80% of total USD stablecoin transaction volume, USDT accounted for the remaining 20%, and other USD stablecoins combined accounted for less than 0.5%.
Jeremy Allaire also stated that the free withdrawals and burns, revenue sharing, and consortium model advocated by OUSD may not necessarily form a sustainable advantage; the partnership between Circle and Coinbase remains solid, and they welcome OUSD to join the stablecoin ecosystem.
U.S. Department of Commerce Lifts Export Controls on Anthropic Fable 5 and Mythos 5 Models
According to Reuters, the U.S. Department of Commerce has formally lifted export controls on Anthropic's Claude Fable 5 and Mythos 5 AI models, less than three weeks after the control order was issued. Anthropic stated that access to the aforementioned models will be restored starting the next day.
Previously, Anthropic was forced to urgently take offline the two models on June 12 due to national security risks; on June 27, the U.S. government partially lifted restrictions, allowing Mythos 5 to be open to some "trusted" U.S. institutions. U.S. Secretary of Commerce Howard Lutnick stated that over the past two weeks, the government has worked closely with Anthropic to complete the review and approval of Fable 5, ensuring it aligns with the overall stance of the U.S. government and strengthens U.S. leadership in the AI field.
BlackRock Transfers 3,625 BTC and 20,598 ETH to Coinbase
According to on-chain analyst Onchain Lens (@OnchainLens), BlackRock deposited 3,625 BTC (worth approximately $212 million) and 20,598 ETH (worth approximately $32.39 million), and may continue to deposit more. In the past 3 days, BlackRock has cumulatively deposited 15,442 BTC to Coinbase, with a total value of approximately $919 million.
Trump Financial Disclosure: Over $300 Million in Crypto-Related Income, Mainly from World Liberty Financial
According to The Block, Trump's annual financial disclosure report (totaling 927 pages) released by the U.S. Office of Government Ethics shows that Trump obtained significant crypto-related income through his family crypto company World Liberty Financial (WLF), including over $65.6 million from the sale of WLF Holdco equity, and approximately $236.25 million from WLF token sale allocation proceeds. In addition, the report disclosed that he holds cold wallets for various crypto assets such as Bitcoin, Ethereum, USDC, LINK, AAVE, ENA, MOVE, and ONDO, and obtained approximately $1.8 million in Ethereum staking rewards. Trump also holds up to $100,000 in Coinbase stock and multiple Strategy (formerly MicroStrategy) investments.
In comparison, Vice President JD Vance's annual financial report is only 17 pages, disclosing that he holds Bitcoin worth up to $500,000.
Taiwan, China Passes "Virtual Asset Service Act", Crypto Regulatory Framework Formally Established
According to The Block, the Legislative Yuan of Taiwan, China passed the "Virtual Asset Service Act" on July 1 after three readings. The bill has been submitted to Taiwan regional leader Lai Ching-te for signature, and the implementation date is expected to be announced within 10 days.
The core points of the bill are as follows:
- Licensing Requirements: Virtual asset service providers must apply for permission from the Financial Supervisory Commission (FSC); platforms that have completed AML registration have a 12-month application period and a 21-month approval period
- Stablecoin Regulation: Issuing or managing stablecoins requires dual approval from both the Central Bank and the FSC, and sufficient reserves must be maintained
- Compliance Requirements: Covering cybersecurity, segregation of customer assets, and internal controls, among others
- Criminal Penalties: Illegal operations punishable by up to 7 years imprisonment, fines up to NT$100 million (approximately $3.14 million); crypto market manipulation punishable by up to 10 years, fines up to NT$200 million (approximately $6.28 million)
Industry insiders pointed out that crypto enterprises previously operating in legal gray areas will no longer be able to rely on regulatory ambiguity. Traditional financial institutions will also be allowed to apply for VASP licenses in the future, and existing crypto enterprises may face more intense competitive pressure.
Binance Co-CEO Responds to MiCA New Regulations Taking Effect: Will Provide Transition Support for Affected Users
Binance Co-CEO Richard Teng posted in response to the EU MiCA new regulations taking effect, stating that Binance will continue to provide transition support for affected users, including providing follow-up operational processes and optional solutions, ensuring asset security and service continuity, and recommended users obtain account-related support and help through official customer service channels.
Richard Teng stated that regulatory changes may bring certain uncertainties and user concerns, and they are currently still maintaining close communication with regulatory authorities to promote a compliant transition in a responsible manner.
PeckShield: 40 Major Hacking Incidents Occurred in Crypto Field in June, Total Losses Approximately $75.87 Million
According to on-chain analyst PeckShield (@PeckShieldAlert), a total of 40 major hacking incidents occurred in the cryptocurrency field in June 2026, with total losses of approximately $75.87 million, a 7.13% decrease month-over-month from May ($81.7 million).
The top three incidents with the largest losses this month were: Humanity Protocol stolen $31 million, Syscoin Bridge loss $10 million, JaredFromSubway.eth MEV bot stolen $7.5 million.
U.S. June ADP Employment Change 98,000, Expected 118,000
U.S. June ADP employment change was 98,000, the lowest increase since March, expected 118,000, previous value 122,000.
$770 Million in Stablecoins from Pump.fun Public Offering Has Flowed into CEXs
According to on-chain analyst Ember (@EmberCN), Pump.fun transferred another 16.43 million USDT to Kraken 7 hours ago. Thus, among the stablecoins (USDC+USDT) obtained from its $PUMP public offering last July, a cumulative total of approximately $770 million has flowed into centralized exchanges. In addition, Pump.fun recently resumed selling operations of fee revenue, having transferred 342,500 SOL (approximately $27.59 million) in fee revenue to Kraken since mid-May.
Today's Market Conditions
Recommended Reading
Meta Enters the Field to Sell Computing Power, Cloud Computing Landscape Changes
https://www.techflowpost.com/article/32311
On July 1, Bloomberg broke a major news: Meta is assembling a cloud computing business department, preparing to sell its surplus AI computing power to external clients.
After the news broke, the market reaction was immediate, but the divergence was extremely severe. Meta itself surged over 8% in pre-market trading, while the two flagships of the "new cloud computing" track, CoreWeave and Nebius, plummeted 6% and 10% respectively. Amazon also turned down in pre-market trading in response. On one side is euphoria, on the other is panic; this news was like a scalpel, precisely cutting open the interest dividing line on the AI computing power industry chain.
The most ironic thing is: Meta just signed a $21 billion computing power procurement agreement with CoreWeave not long ago, and also signed a cooperation worth up to $27 billion with Nebius. Now it is turning around to compete for business with its own suppliers.
Circle Bulls and Bears Debate: OUSD Emerges Suddenly, Is Circle's Moat Still There?
https://www.techflowpost.com/article/32310
Dozens of financial companies such as Visa, Stripe, Mastercard, BlackRock, and Coinbase are promoting a new stablecoin named OUSD. As soon as the news came out, CRCL stock price led the decline.
If traditional finance, payment networks, and exchanges all start jointly issuing stablecoins, how much of USDC's moat is actually left? The plunge in CRCL stock price is essentially the concentrated release of this concern.
So the question arises: Is Circle an overvalued "interest spread bank", or a stablecoin infrastructure leader wrongly killed by the market?
Bernstein Research Report Interpretation: Global Semiconductor Equipment Up 21% in 2026, Six Leaders in China and U.S. Outperform the Market
https://www.techflowpost.com/article/32303
Bernstein released the global semiconductor equipment monthly tracking on July 1. The data anchor point is Japan's SEAJ May shipments; Japanese equipment manufacturers account for about 25% of global WFE, and the data is leading. But the most noteworthy part of the report is not Japan, but the uniform bullishness on six targets in the U.S. and China. U.S. AMAT ($525), LRCX ($340), KLAC ($197.5), China Naura (680 yuan), AMEC (500 yuan), Piotech (580 yuan), all six are outperforming the market. Behind this is the same judgment: Capital expenditures for DRAM and NAND are pushing up global equipment demand, 2026 WFE bullish 21.4%, 2027 +18.2%. Japan SEAJ's May data (YoY +11%, test equipment +41%) provided validation for this judgment.
Bitcoin ETF Net Outflow of 100,000 Coins Within the Year Sets Record, BlackRock IBIT Leads Decline
https://www.techflowpost.com/article/32304
Bitcoin ETFs are experiencing the most brutal bloodletting since listing. CryptoQuant data shows that within 2026, over 100,000 BTC have withdrawn from ETFs, cumulatively flowing out over 160,000 coins from the high last October, the deepest drawdown since the ETF was born. Net outflow in June alone was approximately $4 billion, setting a listing record, with BlackRock IBIT accounting for nearly 80% alone. The narrative of "institutional stable buying" from two years ago hasn't even lasted two years. BTC has fallen below $60,000, hitting a low of $58,190 within the year.
Bitcoin spot ETFs were once seen as a stable entry point for institutional funds; now this entry point is pumping water in reverse. According to data from on-chain analysis platform CryptoQuant, analyst Darkfost posted on the X platform on June 30 pointing out that Bitcoin withdrawn from ETF issuers within 2026 has exceeded 100,000 coins, the first time since the ETF was launched. If calculated from the historical high of ETF holdings in October 2025, the cumulative outflow scale has exceeded 160,000 BTC. Darkfost called this the deepest drawdown for Bitcoin ETFs so far, with the value loss of holdings bound to it exceeding $11 billion.
His judgment is: "The bear market spares no one, not even big players like ETFs and BlackRock." In subsequent comments, he added that the market originally expected ETFs to be a source of "continuous buying," but as a result, "it didn't even last two years."
Dissecting Semiconductor "Chemical Key" Hydrofluoric Acid Concept Stocks: Industry Chain Priced In Sufficiently, Divergence Just Beginning
https://www.techflowpost.com/article/32300
Electronic grade hydrofluoric acid has been somewhat in demand recently. On July 1, Taiwan, China's "Economic Daily News" reported that TSMC, Samsung, and SK Hynix are all scrambling to buy this material, and suppliers have raised prices by 20% to 30%. Simply put, during chip manufacturing, a layer of silicon oxide film forms on the wafer surface, which must be precisely dissolved with chemicals to proceed. Electronic grade hydrofluoric acid does just this: dissolving silicon oxide without damaging the underlying circuits, it is one of the chemicals with the highest consumption in wafer cleaning and etching processes, known in the industry as the "chemical key".
The production of hydrofluoric acid requires fluorite plus sulfuric acid; shipping obstructions in the Strait of Hormuz pushed sulfur prices high, sulfuric acid followed suit, and production costs went up; South Korean local material suppliers were forced to start large-scale additional purchases of raw materials from Chinese Mainland at a premium about 40% higher than the beginning of the year. Following this logic, the A-share fluorine chemical sector started moving from mid-May, and the increase so far is not small, with a batch of related individual stocks trading near 52-week highs. Shortages, price hikes, domestic substitution... the market has basically heard and accepted these stories.
At this position, it is more important to clarify which companies in this broad rise have real performance realization, and which are just being pushed by sentiment.
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