MyToken Short-Term Trading Assistant just detected a sell signal of ETH/USDT at UTC/GMT 08:00:00 am, Jul. 31, with the sell price at 1889.07 USDT. According to the analytical result from Short-Term Assistant, recently ETH is going weak and showing a downtrend. The next resistance level above is 1931.18 USDT. To learn about more trading signals, please go to「MyToken - Assistants - Trading Assistants」💡

Odaily reports that New York State has sued Kalshi, accusing it of operating an illegal gambling business in the state. New York Attorney General Letitia James has asked the court to order Kalshi to cease operations in New York State and to order the company to pay fines and restitution to users. New York State has also filed a motion for a temporary restraining order to suspend Kalshi-related event contract transactions in the state and to order Kalshi to fully refund users' funds, surrender all proceeds earned through these products, pay a fine equivalent to three times its earnings, and a $100,000 fine for each product. According to court documents, the requested compensatory damages could reach at least $36 billion, with the exact figure pending full calculation.

According to Odaily Planet Daily, Jupiter Research Capital, an affiliate of the well-known Chinese quantitative investment firm Mingshi Investment, suffered heavy losses during the AI-related stock market crash, with its net asset value plummeting by over 40% in just over three weeks since July. Investor update data shows that the fund's loss was less than 7.5% in the first three trading days of July, but widened to approximately 43% by July 24. Earlier this year, the fund managed approximately $186 million, employing a market-neutral strategy and using 2-4 times leverage. Recently, as market concerns about the sustainability of AI investments have intensified, global AI industry chain stocks have experienced a significant correction, putting pressure on hedge funds heavily invested in AI-themed stocks. Goldman Sachs stated that a "quantitative earthquake" has occurred in the Chinese market, with a reversal in momentum strategies leading to liquidation pressure on AI and small-cap related positions. (Bloomberg)