Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

Funds under ARK Invest collectively purchased 121,400 shares of SpaceX stock worth approximately $14.996 million, while selling 97,300 shares of Robinhood stock valued at around $10.351 million, extending its recent trend of reducing holdings. On the same day, ARK also bought about $4.965 million worth of shares in electric aircraft company Archer Aviation. Earlier reports indicated that SpaceX closed down more than 6% yesterday, hitting a new all-time low since its listing.

According to an official announcement, Binance will list the Pop Mart stock contract (POPMARTUSDT), with trading going live at 10:30 on July 23, 2026 (GMT+8).

Renowned economist Hong Hao recently stated that the current pullback in AI sector stocks is a mid-cycle correction, not the end of the trend. Judging from South Korea’s KOSPI index, the overall sector correction is far from complete. Stock prices have already overpriced fundamentals in advance; technical adjustments will continue, with sharp short-term volatility and a temporarily downward-biased trend. Hong Hao believes market capital is rotating from overheated new tech sectors like AI and semiconductors to previously neglected old economy/traditional tech sectors—internet giants including Tencent, Alibaba, and Meituan have already posted notable gains. Logically, if one is bullish on AI’s productivity-boosting effect, one should also be optimistic about the old economy (as economic growth will ultimately drive consumption), expecting a broad-based rally rather than narrow speculation.

U.S. White House Office of Science and Technology Policy Director Michael Kratsios claimed in a post that Moonshot AI (branded as Kimi) referenced Anthropic’s Fable while developing its K3 model, and built an internal platform for large-scale distillation of U.S.-based models. In a direct reposted response, Moonshot AI team member Randy Xia noted that Fable was only released on July 1, while K3 launched on July 15. Based on this timeline, Moonshot completed model research, distillation, training, and deployment in just 15 days. He quipped, “We trained a brand new cutting-edge model in only 15 days — that’s practically a Guinness World Record!”

South Korean President Lee Jae-myung will hold meetings with executives from multiple global AI giants in San Francisco during his visit to the U.S. this week, aiming to strengthen South Korea’s position in the global artificial intelligence sector and advance substantive cooperation. It is reported that Lee will meet separately with Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei, and Broadcom CEO Hock Tan. Additionally, he will attend the San Francisco AI Summit and witness the signing of cooperation agreements between South Korean enterprises and the tech giants. Executives from South Korea’s Samsung Electronics (chief Lee Jae-yong), SK Group, Hyundai Motor, Naver, and other local firms will also hold meetings with the aforementioned AI leaders. Analysts note that Lee’s initiative will strengthen South Korea’s role in the global AI industrial chain, particularly in areas including high-bandwidth memory (HBM), GPUs, AI infrastructure, and generative AI services. The summit will send a strong signal to the market, boosting confidence in AI infrastructure investment, especially amid the current tech stock correction. (The Korea Times)

Samsung Electronics announced at Galaxy Unpacked 2026 that Samsung Wallet will support stablecoins in the future, integrating payments, rewards, and digital assets into the Galaxy ecosystem. The tech giant noted it is poised to become one of the first major smartphone makers to natively support stablecoins. Samsung also unveiled the Samsung Galaxy Card, co-developed with Barclays and Visa, which will launch first in the U.S.