August 15th, Hong Kong Chief Executive Lee Ka-chao attended the Innovation, Technology and Art Summit hosted by the Bauhinia Magazine Society via video. The theme of this summit was "Web 3.0 Return: Constructing a Golden New Starting Point", closely following the direction of Hong Kong's development of innovative technology and cultural arts as new growth points in the "14th Five-Year Plan". 

According to data from Forkast Labs, the profitability of Ordinals inscriptions, a type of NFT on the Bitcoin network, decreased in July. Monthly revenue from NFT services on the Bitcoin network fell to $1.22 million in July from $3.13 million in June, indicating lower profitability for Ordinals sales. Despite this, Ordinals broke a daily inscriptions record on July 30 with 422,164, and the network exceeded 21 million total inscriptions on Tuesday. The oversaturation of Ordinals is among the main factors contributing to the declining profitability of Bitcoin NFTs, according to Kadan Stadelmann, CTO of blockchain infrastructure firm Komodo. The NFT market as a whole is experiencing a decline, and experts believe that innovation is needed to revive it. Standard Chartered predicts that Bitcoin prices will surpass US$120,000 in 2024 due to the halving event.

GoMining, a leading provider of user-friendly Bitcoin mining services, has released its North NFT Collection, offering daily Bitcoin rewards to NFT holders. The collection draws inspiration from the importance of low temperatures in mining device operations, the resilience of northern regions, and the driving force behind its endeavors.

Cool Cats, a new digital collectible brand created by Clon, has entered Reddit's Gen 4 Series Avatars. The Cool Cats community has designed three distinct categories of collectibles that contribute to the "Cool Score" system in the Cool Cats ecosystem, with increasing rewards for dedicated owners.

  The European Union is discussing the proposed Artificial Intelligence Act, with Die Linke advocating for stricter regulation and transparency, and the Union prioritizing innovation and openness. The KI Bundesverband released a position paper stressing the need for a risk-based approach to regulation. While Germany's government supports the AI Act, they also suggest potential improvements, such as establishing an AI supercomputing infrastructure. There is also a proposal to create a global center for AI research to drive projects and attract talent on a global scale.  

Institutional investors in the crypto space have recovered from the collapse of 2022 and are now focusing on how cryptocurrencies and their underlying technologies can drive innovation, according to CME Group's head of crypto products.

Zokyo and Conflux have partnered to enhance the building projects of the Conflux ecosystem, with a focus on optimizing security and accelerating innovation. Zokyo will provide support for upcoming projects on the Conflux Network, including security services such as penetration testing and smart contract auditing.

XDC Network, a well-known blockchain platform, has announced a strategic partnership with SolidityScan, a reputable blockchain security company, to enhance security measures and promote innovation in the blockchain ecosystem.

During a Twitter Spaces session, Binance CEO Changpeng Zhao expressed his enthusiasm for the entrance of large players like BlackRock into the cryptocurrency space, stating that it would offer more coverage and serve a clientele that is currently underserved. He also noted that many of these institutions are not comfortable using pure crypto platforms and may prefer existing relationships with legacy firms.

July 4 (Cointime) - Despite recent regulatory actions against crypto firms in the United States, the CEO of Merkle Science believes that the country will remain a crypto hub in the medium term. Mriganka Pattnaik cites the US's high level of innovation, deep talent pool, and clarity around taxation as reasons for crypto firms to maintain their operations in the country.