According to the New York Times, OpenAI has raised $8.3 billion, with a valuation of $300 billion.

Odaily Planet Daily News: The White House is preparing an executive order that will provide legal protection for 401(k) retirement plan managers, allowing them to include private market funds, cryptocurrencies and other alternative assets in their investment options. Jon Gray, president of Blackstone Inc., said that once the United States paves the way for the expansion of 401(k) plans to investments beyond stocks and bonds, the leading institutions in the alternative asset industry will be most likely to benefit. This move will bring major changes to the U.S. retirement savings market, provide ordinary investors with more diversified investment channels, and may also create new business growth points for large private equity management companies. (Bloomberg)

Odaily News According to The Miner Mag, Bitcoin mining company Mawson has fired CEO Rahul Mewawalla for breach of fiduciary duty and suspected fraud, and has filed a lawsuit in the Delaware court in the United States. Rahul Mewawalla then said in a letter to the board of directors on July 17 that he "respectfully but firmly" disagreed with the company's description of events, noting that the board had publicly praised his leadership earlier this year. Previously, Mawson was sued by NYDIG's parent company Stone Ridge and its subsidiary Consensus Colocation, accusing it of unauthorized control of $30 million worth of ASIC mining machines owned by NYDIG.

Odaily News Tokenized money market fund platform Spiko announced the completion of a $22 million Series A financing round, led by Index Ventures, with participation from White Star Capital, Frst, Rerail, Bpifrance and Blockwall. Spiko plans to help European companies earn daily cash interest through tokenized money market funds, narrowing the cash yield gap between Europe and the United States, and is expected to reach $1 billion in assets under management by the end of this year. (The Block)

Odaily News DeFi asset management protocol Velvet Capital announced the completion of US$3.7 million in financing, with participation from YZi Labs and Blockchain Founders Fund, FunFair Ventures, Selini Capital, Mucker Capital, PAKA, LucidBlue, Mindfulness Capital, SkyVision Capital, Gate Labs, Poolz Ventures, NexGen, Cointelegraph Accelerator, Gains Associates, Rarestone, Echo, and DWF Ventures. The funding accelerates Velvet’s mission to provide frictionless portfolio management and trading to funds, DAOs, and individual traders, while powering the launch of its new governance and utility token, Velvet.

Odaily News Ondo Finance and Pantera Capital jointly established the $250 million Ondo Catalyst Fund, which aims to invest in RWA tokenization projects, covering equity and tokens. Ondo's chief strategy officer said that the current market has entered the "tokenization arms race" stage, and exchanges are accelerating the layout of tokenized stocks and ETF products. The fund simultaneously promotes the construction of on-chain financial infrastructure, and OKX Wallet has joined its global market alliance. RedStone data shows that the RWA market has grown by 380% since 2022 to $24 billion, and the growth momentum comes from private credit and U.S. debt tokenization. (Cointelegraph)

Odaily News LBank released its second quarter 2025 platform report, and data showed that its average daily trading volume reached 4.98 billion US dollars, a month-on-month increase of 24.5%, setting a record high. The report shows that the platform ranks first in CEX platforms in terms of 100-fold coin ratio, initial asset increase, and Meme coin market share with its efficient asset screening and listing mechanism. The report said that LBank launched a total of 329 assets this quarter, of which 29% were first-time projects, with an average increase of 912%; 187 Meme assets were launched, accounting for 57%, of which 13% had returns exceeding 10 times, and 1.07% had returns exceeding 100 times. The platform also launched the "EDGE Zone", focusing on high-quality and high-potential assets, with an average increase of 1564% for the first batch of 13 projects. In addition, LBank launched 7 assets for pre-market trading, with the highest return reaching 123 times; the yield of the Launchpool project Stakestone was as high as 400%; a total of 35 rounds of airdrops were issued, with a total value of US$6 million. In terms of security, the platform has defended against more than 2,000 potential incidents and prevented losses of more than US$250 million. In terms of global layout, LBank has held many brand events in Dubai, Hong Kong and other places, and participated in industry conferences such as Bitcoin2025. The platform has won many industry awards and has been reported by media such as The Wall Street Journal and Forbes, and its brand influence continues to increase.

Odaily News Tokenized asset issuer Securitize and oracle provider RedStone have released a white paper that aims to introduce a new model for securely verifying on-chain net asset value (NAV) data, specifically for tokenized private equity funds. The model, called the Trusted Single Source Oracle (TSSO), is designed to address a critical gap in decentralized finance (DeFi) infrastructure: how to reliably prove that each NAV update does indeed come from a trusted source and cannot be tampered with once on-chain. (CoinDesk)

Odaily News The dollar edged higher after Federal Reserve Chairman Jerome Powell maintained a cautious stance on rate cuts. Powell appeared to pour cold water on the prospect of a rate cut in July when testifying before Congress on Tuesday, rejecting President Trump's call for lower interest rates. Pepperstone strategist Michael Brown said in a report that the Fed may have to wait until December to cut interest rates and will only cut by 25 basis points this year. (Jinshi)

Odaily News According to @ai_9684xtpa's monitoring, a whale deposited all 20,461 ETH redeemed from StakeStone and Blast in the past five months into Binance two hours ago. The total value is approximately US$45.67 million based on the current price, which is suspected to be a liquidation operation. Among them, 9,117 ETH were opened by this address at an average price of $2,003 between August 2023 and February 2024. If they had been sold, it is estimated that a profit of approximately $2.087 million could be realized.