Odaily Planet Daily reports that Sergei Potapenko and Ivan Turõgin, co-founders of the defunct crypto mining services company HashFlare, pleaded guilty to wire fraud and requested no additional prison sentences from a US court, despite prosecutors recommending 10 years in prison for each. In a sentencing memorandum filed in federal court in Seattle, prosecutors stated that the two orchestrated a $577 million Ponzi scheme, resulting in approximately $300 million in losses for victims, making it the largest fraud case ever tried by the court. The defendants requested a reduced sentence, citing time already served while detained in Estonia and their cooperation with the case. (Cointelegraph)

Odaily Planet Daily News Camp Network announced the launch of the third season of the test network tasks on the X platform. The third season project is a new generation of web 3 native games built on Camp Network. Earlier news reported that Camp Network completed a US$25 million Series A financing round, led by 1kx and Blockchain Capital.

Odaily Planet Daily reports that Hong Kong-listed Yisou Technology has announced a $5 million strategic investment in Lightnet, a fintech company under the CP Group, to support the development of its Web 3 technology and cross-border payment business. Yisou Technology also stated that it will deepen its Real World Asset (RWA) strategic layout to build its own RWA ecosystem.

Odaily Planet Daily News: Binance released an update on its reserve certificate for August. As of August 1, 2025, the user's BTC net balance was 591,163.841, the Binance wallet balance was 608,639.998, and the BTC reserve ratio was 102.96%. In terms of ETH, the user's net balance is 4,555,013.724, the wallet balance is 4,585,489.832, and the reserve ratio is 100.67%. In addition, the reserve ratio of USDT is 102.27%, and that of BNB is 111.74%.

Odaily Planet Daily reported that US President Trump posted on social media: "Reciprocal tariffs will take effect at midnight tonight! Billions of dollars will begin to flow into the United States, mainly from countries that have taken advantage of the United States for many years. The only thing that can stop America from being great is a radical left-wing court that wants to see our country fail!" (Jinshi)

According to official sources, OpenAI will make a major announcement on Thursday. Based on tweets, this appears to be a prelude to the long-awaited release of the GPT-5 AI model. (Note: OpenAI's post announced a LIVE 5 TREAM at 10 AM Pacific Time on Thursday—note that the "s" in the word "livestream" has been replaced with a "5"). Combined with recent official OpenAI announcements, it seems GPT-5 is imminent. Last Sunday, OpenAI CEO Sam Altman posted a screenshot with "ChatGPT 5" written in the top left corner. The company's head of applied research also posted on Monday that he was excited to see how GPT-5 would be received. Last month, Altman also stated that OpenAI planned to release GPT-5 soon. The Verge's Tom Warren reported in July that OpenAI planned to launch GPT-5 in early August, and in February, he wrote that Microsoft had been preparing server capacity for the new model.