U.S. July PPI was flat month over month, below market expectations for a 0.20% increase; CPI growth fell to 3.40% year over year. The S&P 500 closed at 7,798.99, and the Nasdaq 100 closed at 30,084.5. BTC traded at $63,465, ETH traded at $1,886.26, and the market sentiment index stood at 29. The morning update focused on U.S. inflation, Tether's audit, the SEC rule schedule, AI memory expansion, index inclusion, Robinhood Chain TVL, and listed miner hashrate changes.
1. U.S. July PPI is flat month over month
U.S. July wholesale prices were flat month over month, below market expectations for a 0.20% increase; CPI growth fell to 3.40% year over year. The S&P 500 closed at 7,798.99, and the Nasdaq 100 closed at 30,084.5. BTC traded at $63,465, and total crypto market capitalization stood at $2.27T.
Assets to watch: BTC SPX500 NAS100
2. European drought lifts gas replacement demand
River levels fell across parts of Europe, and several power plants stopped operations due to insufficient cooling water. Additional gas-fired generation demand increased. WTI crude traded at $81.14, Brent crude traded at $86.97, and crude prices moved in a narrow range.
Assets to watch: NG CL BZ
3. SK Hynix starts $720B AI memory expansion
SK Hynix started a $720B AI memory chip expansion plan covering domestic capacity in South Korea. The Kospi index also moved higher. The item adds AI memory capacity, the Korean semiconductor chain, and computing infrastructure spending to the morning pool.
Assets to watch: SKHYNIX
4. Reddit officially joins the S&P 500
Reddit officially joined the S&P 500 index, and its shares jumped. Index funds and passive vehicles will adjust holdings based on index weights. The S&P 500 closed at 7,798.99 and remained a core U.S. equity reference in the morning snapshot.
Assets to watch: RDDT SPX500
5. Meta, Google, and OpenAI release AI model updates
Meta announced plans to open source its next-generation AI model. Google released Gemini 3.7 Flash, OpenAI launched invitation-only GPT-5.6 Sol Ultrafast, and Anthropic remained part of the closed-model competition set. The morning AI product update covered open-source models, lightweight models, and invitation-only high-performance models.
Assets to watch: META GOOGL OPENAI ANTHROPIC
6. Tether completes its first full financial audit
Tether announced completion of its first full financial audit, with KPMG issuing an unqualified opinion on its 2025 financial statements. The audit covered about $180B in USDT reserves. The event entered the morning stablecoin and reserve-transparency candidate pool.
Assets to watch: USDT
7. SEC cancels Reg Crypto proposal meeting
The U.S. SEC canceled its scheduled Reg Crypto rule proposal meeting and again delayed the tokenization innovation exemption schedule. Franklin Templeton received approval to invest in an on-chain money market fund. The item covers digital asset issuance rules, tokenization exemptions, and on-chain money market funds.
Assets to watch: ONDO
8. Fidelity files for ETH staking ETF, Goldman buys NEOS
Fidelity filed to allow its ETH ETF to participate in staking and return related income to investors. Goldman Sachs announced a $2.25B acquisition of ETF manager NEOS, gaining a BTC income ETF product line. The item includes ETF product mechanics and an asset-management acquisition.
Assets to watch: ETH BTC GS
9. Robinhood Chain TVL nears $1B
Robinhood Chain TVL approached $1B. A Standard Chartered report said Uniswap was the main source of on-chain liquidity on the chain. The item entered the morning pool for exchange-linked chains, DEX liquidity, and on-chain capital deposits.
Assets to watch: HOOD UNI
10. Listed BTC miner hashrate falls 13.4% from peak
Total listed BTC miner hashrate fell 13.4% from its peak, while AI infrastructure revenue increased. Some miners redirected idle computing capacity to AI data center businesses. The item covers miner hashrate, AI data center revenue, and the GPU demand chain.
Assets to watch: BTC NVDA
Market Snapshot
BTC: $63,465 | ETH: $1,886.26
Gold: $4,395.4 | Silver: $64.32
WTI: $81.14 | Brent: $86.97
S&P 500: 7,798.99 | Nasdaq: 30,084.5