XYO co-founder discusses whether DePIN is ready for institutional adoption

Hyperliquid destroyed $1.12 million worth of HYPE tokens in the past 24 hours, generating $1.41 million in transaction fees. A total of 47.57 million HYPE tokens were destroyed, valued at approximately $2.64 billion, accounting for 4.76% of the maximum supply of 1 billion tokens. （Onchain Lens）

Binance LIT is currently priced at $2.41, with a 24-hour increase of 7.11%. 24-hour transaction volume of 100 million US dollars, up 89.04%, for reference only

Solana perpetual contract trading platform Flash Trade has announced that if a suitable acquirer cannot be found, the agreement will gradually cease operation. Flash Trade is seeking to sell its technology stack, brand, and intellectual property, and the proceeds from the sale will be distributed proportionally to FAF token holders. Flash Trade has lifted the three-month delayed unlocking restriction on token staking. Holders can immediately release the staking, and the withdrawal function remains open. The team will hold an AMA on August 11th at 08:00.

According to Reuters, the pro AI super political action committee Leading the Future has raised $140 million for the 2026 US election, with funding from OpenAI, Palantir executives, and venture capital firm Andreessen Horowitz, approaching the $200 million invested in the cryptocurrency industry in the previous election. AI lobbying is facing competition from the leading camp led by Anthropic. Anthropic has donated $20 million each to the lobbying organization Public First Action twice, and the organization, together with affiliated groups, has invested approximately $80 million to mitigate major risks associated with artificial intelligence.

The OKX executive says Democrats have little incentive to hand Republicans a crypto victory before the midterms.