TL;DR

ETH ETF inflows surge, $ZORA rallies 10x post-Base integration, US–China extend tariff truce.

Highlights

• Ethereum ETFs posted 16 straight days of net inflows, totaling $4.03B in two weeks; Ethereum price cleared $3,800, with three-month inflows at $8.2B 12.
• BlackRock’s BUIDL fund holds $2.4B in digital assets, 88% allocated to Ethereum , highlighting institutional demand 2.
• Zora’s $ZORA token surged nearly 10x in a month following Base L2 integration and major exchange listings; spot and perp volumes spiked 3.
• US and China extended their tariff truce by 90 days 4; Trump claims a zero-tariff trade deal with the EU, but details are unconfirmed 5.
• Goldman Sachs warns of record speculative trading in US equities; volatility protection remains inexpensive 6.
• Fed policy meeting, US tariff deadline, and Big Tech earnings set up a volatile macro week 20.
• UK’s Online Safety Act triggers a 1,400% VPN surge; global trend toward stricter digital identity checks may impact DeFi access 7.
• OpenAI’s Sam Altman is now Trump’s lead AI adviser 15; US agencies ordered to use “neutral” AI models 16, and AI tools are being deployed to cut federal regulations by 50% 18.
• OpenAI’s GPT-5 launches in August with major coding gains 10; Tencent open-sources a 3D world-generation AI model 11; China proposes an international AI standards agency 12.
• Allianz Life discloses a data breach affecting most of its 1.4M customers, part of a wider trend in insurer cyberattacks 9.
• Google AI summaries reduce web traffic to publishers, but AI chatbots like ChatGPT are driving a surge in referral traffic 19.
• Alibaba launches AI-powered smart glasses in China, expanding AI integration in consumer tech 17.

Commentary

Ethereum remains the focal point for institutional crypto flows, with ETF inflows accelerating and outpacing Bitcoin on a relative basis 12. BlackRock’s heavy ETH allocation underscores the shift, and ETH’s technical breakout above $3,800 is supported by robust on-chain and fund flows 2. The ETH/BTC pair’s strength suggests continued rotation into Ethereum and related assets, with possible spillover to DeFi and L2 tokens 2.

The Zora ecosystem is seeing outsized speculative activity, driven by its Base L2 integration and rapid adoption by creators 3. The surge in $ZORA trading volumes across major exchanges reflects strong retail and speculative interest, but on-chain data suggest the rally is largely exchange-driven. Traders should watch for signs of exhaustion or liquidity shifts, especially given the absence of large on-chain transactions 3.

Macro risks are in flux: the US–China tariff truce extension removes immediate downside 4, but the upcoming US tariff deadline, Fed meeting, and Big Tech earnings could quickly change sentiment 20. Goldman’s warning about speculative excess in equities is relevant for crypto, as risk-off moves in traditional markets often spill into digital assets, particularly in highly leveraged or illiquid names 6.

Regulatory and tech developments remain key watchpoints. The UK’s Online Safety Act and similar global moves toward digital identity could impact DeFi participation and privacy-focused protocols 7. In the US, the administration’s push for “neutral” AI models 16 and regulatory cuts via AI tools 18 could influence the compliance landscape for crypto firms leveraging AI. The imminent launch of GPT-5 10 and China’s open-source AI initiatives 1112 may further accelerate AI adoption in crypto, especially for on-chain agents and NFT applications.

Security remains a persistent concern, highlighted by the Allianz Life breach 9. Meanwhile, shifts in digital discovery—such as Google ’s AI summaries reducing publisher traffic while AI chatbots drive new referrals—could affect NFT and content-driven projects reliant on web traffic 19. Traders should stay alert to sector rotations, macro event risk, and evolving regulatory and tech trends.