AI large language models raised over $25 billion in the first half of 2023. The industry is starting to look like a bubble that’s about to burst. Source: https://cointelegraph.com/news/ai-manias-coming-end

Paul Grewal said Coinbase will seek to dismiss the SEC’s suit on Aug. 4 which will argue that it never sold securities as the regulator alleged. Source: https://cointelegraph.com/news/coinbase-to-file-order-seeking-dismissal-of-sec-lawsuit

The Australian Securities and Investments Commission alleged eToro users with no understanding of CFD product risks could still buy them on the platform. Source: https://cointelegraph.com/news/asic-sues-etoro-over-cfd-futures-trading-products

FTX’s official creditor committee said the current plan would add costs and delays to what’s already on track to be a historically expensive bankruptcy. Source: https://cointelegraph.com/news/ftx-creditors-ignored-draft-bankruptcy-exit-plan

The retail company used to be known primarily for its brick-and-mortar retail stores but has also launched an NFT marketplace and a soon-to-be-canceled line of crypto wallets. Source: https://cointelegraph.com/news/gamestop-stop-support-crypto-wallets-citing-regulatory-uncertainty

Due to regulatory and transparency risks, CZ says that spreading risk across different stablecoins is the key to longevity. Source: https://cointelegraph.com/news/changpeng-zhao-cz-binance-stablecoin-strategy-tether-busd

Judge Jed Rakoff gave a detailed interpretation of the Howey test that was at odds with the decision on the SEC case against Ripple. Source: https://cointelegraph.com/news/judge-denies-motion-dismiss-terraform-sec-case-reject-ripple-ruling

Today marks eight years since the Ethereum Foundation first announced the rollout of its network. Source: https://cointelegraph.com/news/ethereum-turns-eight-birthday-crypto-community

The popularity of liquid staking tokens could usher in a new age for Ethereum and the rest of cryptocurrency — and play a key role in the new bull …

Crypto legislation goes to the House floor in the U.S., Worldcoin’s controversial launch and Russia’s digital ruble signed into law. Source: https://cointelegraph.com/magazine/us-crypto-bills-on-the-move-worldcoin-launches-and-russias-cbdc-hodlers-digest-july-23-29/