$OGOriginal Gangsters Price

On August 18, Meta Platforms (META.US) fell 3.7%, closing at $547.72. The decline follows a joint lawsuit from multiple states in the U.S., alleging that Meta designed addictive products targeting teenagers. The case is set to be heard on the 18th in Oakland, California. Currently, 29 states have sued Meta, with most accusing the company of violating the Children's Online Privacy Protection Act by illegally collecting personal information from children without parental consent. According to reports, based on Meta's own calculations, if it loses this trial, it could face penalties of up to $1.4 trillion.

On August 18, the stock prices of the CPU duopoly widened their losses, with AMD shares dropping by 5.53% and Intel shares falling by 7.35%.

On August 18, Ryan Kirkley, CEO of Global Settlement Network (GSN), stated that the crypto industry is undergoing a large-scale clearing process, with overvalued projects, weak business models, and a lack of sustainable revenue gradually exiting the market. Since 2026, more than 100 crypto projects have shut down, filed for bankruptcy, or effectively disappeared. Kirkley believes that this wave of failures is largely a consequence of the funding frenzy from 2020 to 2021, where many projects secured massive funding at inflated valuations but lacked real revenue and profit pathways, ultimately being forced to rely on continuous financing to maintain operations. According to Galaxy Research, venture capital in the crypto and blockchain sector was approximately $4 billion in the first quarter of 2026, involving 355 transactions, a decrease of about half compared to the fourth quarter of 2025, while the number of transactions only dropped by 16%, indicating that the funding contraction primarily stems from a reduction in large-scale financing. Kirkley suggests that stablecoins, digital banks, and wallets and settlement infrastructures aimed at institutions may emerge as winners after the industry clearing, while social tokens, meme coins, and certain Web3 gaming projects will face more severe challenges. Regarding Bitcoin, Kirkley stated that the current market is in a 'moderate bear market,' with $61,200 being a key support level. If this level is breached, leveraged funds may be forced to sell, further opening up a decline towards $41,000. Meanwhile, Kirkley mentioned that he has met with government representatives from seven countries over the past month, noting an increasing interest from institutions and governments in blockchain technology, but their focus is more on applications such as reducing financial costs, asset tokenization, and cross-border settlements, rather than the decentralized financial systems emphasized by the traditional crypto industry.