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

June 22. On June 21, Li Bei, founder of Shanghai-based Shanghai Banxia Investment Management Center, released an open letter to investors, revealing that her fund recorded a significant net asset value (NAV) decline due to its holdings in the energy, real estate, consumer, and building materials sectors. The fund’s current net equity exposure is 50%, with positions moderately reduced by liquidating holdings with insufficient conviction. In the letter, Li Bei openly admitted that the relevant holdings have come under heavy pressure recently, with corrections in the domestic demand and real estate sectors exceeding expectations. The most attention-grabbing part of the letter directly addressed current market sentiment: She fully understands investors who have lost patience, respects those choosing to redeem and remain on the sidelines, but for those looking to redeem to chase AI gains, she said, “Even if you scold me, I still want to advise: please be cautious.” Regarding the reasoning

WASHINGTON, June 22 – U.S. Vice President Vance announced Thursday that the Strait of Hormuz has been reopened, with the U.S. and Iran establishing a long-term mechanism to safeguard unimpeded transit through the strategic waterway. Vance noted that bilateral talks in Vienna have made significant progress, with negotiators haggling until roughly 1 a.m. local time, putting solid groundwork in place for a comprehensive accord. On the nuclear front, Vance revealed Iran has agreed to grant International Atomic Energy Agency (IAEA) inspectors return access – a major breakthrough in the long-running negotiations. Turning to the situation in Lebanon, Vance called on all factions there to maintain proper coordination to stabilize the volatile region. Vance emphasized that much work remains ahead, however. Technical-level talks will continue in the coming days and weeks, overseen by specialized technical teams. He also warned that if Iran makes misleading claims, President Trump will respond

On June 22, U.S. Vice President Vance is set to deliver a speech in Switzerland at 7:00 a.m. Eastern Time—equivalent to 7:00 p.m. Beijing Time—following his first meeting with the Iranian side. (Golden Finance)

On June 22, cryptocurrency exchange startup Fomo announced it has closed a $75 million Series B funding round, per Fortune. The round was led by Index Ventures, with participation from Union Square Ventures, Zynga co-founder Mark Pincus, Discord CEO Humam Sakhnini, and Eventbrite co-founder Kevin Hartz, lifting the company’s valuation to $5.5 billion. Founded in 2025, Fomo was established by former members of the dYdX team: Paul Erlanger, Se Yong Park, and Prashan Dharmasena.

June 22: On-chain investigator ZachXBT has flagged that an address connected to the HashFlare investment scam moved 10,600 ETH on-chain roughly 3.5 years after lying dormant, with the transfer worth an estimated $18.5 million. Records show that Sergei Potapenko and Ivan Tur?gin, the two Estonian co-founders of HashFlare, pleaded guilty in 2025 and agreed to forfeit approximately $4.5 billion in assets to the U.S. government. Following the Ethereum transfer, the involved parties began shifting funds from the Ethereum network to Bitcoin via two instant exchange platforms: HiFiSwap and Near Intents. This unusual fund movement was initially detected with assistance from Cyvers.

June 22 — Official sources report that Coinbase will add support for Anthropic and OpenAI Pre-IPO perpetual contracts to its platform. Notably, the ANTHROPIC-PERP and OPENAI-PERP Pre-IPO perpetual contracts are set to start trading at 19:00 Beijing Time on June 22, 2026, or later.