Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

Despite Meta’s ongoing heavy investment in AI infrastructure, a new BBC investigation has found that Instagram is still serving users in India with advertisements containing child sexual abuse material (CSAM), and some of these ads are still deemed by the platform’s moderation system as “not violating community guidelines” even after being reported. The report states that a test account created by the BBC received around 30 CSAM-related ads within a week, without any prior searches for such content, and these ads directed users to Telegram channels to purchase the illegal material. The Indian government has ordered Meta to remove the relevant ads and explain within seven days why its moderation mechanism failed. The report notes that Meta’s 2025 ad revenue reached $201 billion, accounting for approximately 97% of its total revenue, while its AI infrastructure investment in the same period hit $72.2 billion. The company plans to raise its capital expenditure to between $125 billion and $145 billion in 2026. The article points out that Meta’s current controversies stem more from platform governance and commercial incentives rather than a lack of AI technical capabilities.

According to FalconX’s latest market analysis, the crypto market sustained its deleveraging trend in the second quarter of 2026. Spot trading volume on major platforms fell to $1.6 trillion, down 25% quarter-over-quarter and 42% year-over-year, hitting its lowest level since the third quarter of 2023. Futures trading volume dropped to $9 trillion, a 12% quarter-over-quarter and 31% year-over-year decline. The report shows that by the end of Q2, the total open interest (OI) of futures across the market fell to $53.2 billion, a sharp pullback from the peak of $122.2 billion in October 2025, while trading turnover ratio decreased to 1.6x, reflecting a shift in the market from high-frequency speculation to long-term holding. On the capital flow front, Bitcoin spot ETFs recorded a net outflow of $4.9 billion in Q2, expanding the year-to-date cumulative net outflow to $5.4 billion. Total stablecoin supply shrank by $7.4 billion to $313.8 billion, marking the first contraction in recent quarters. FalconX notes that the current market deleveraging process is largely complete, with open interest stabilizing and trading volume showing signs of recovery in June. Looking ahead to the third quarter, the progress of the U.S. CLARITY Act legislation and ETF capital flows will be key catalysts shaping market trends.

Intel (INTC.O) will invest 50 billion euros (approximately $57 billion) to expand its factory in Ireland, aiming to recapture its leading position in manufacturing amid the artificial intelligence boom. In a statement, Intel said the investment will boost production capacity at its Leixlip campus outside Dublin, as part of the company’s plan to increase output of data center processors. The expansion will enhance manufacturing capabilities for products including its flagship Xeon server processors, while advancing research and development activities. Intel Executive Vice President Naga Chandrasekaran noted in a statement that the move is also part of the company’s plan to improve delivery capacity for its foundry business. Intel’s foundry arm, which manufactures chips for other tech companies, is a core component of its revitalization strategy, designed to strengthen its competitiveness against rivals such as TSMC.

US President Trump posted that he may "operate" the Strait of Hormuz in the future, stating that if the US takes the lead in managing the Strait of Hormuz, the US will receive compensation. "We will become the guardians of the Strait of Hormuz."

According to the Associated Press, in response to recent remarks by former U.S. President Donald Trump that he has ordered the U.S. military to launch large-scale strikes on Iran if he is assassinated by Tehran, there is no so-called "dead man’s switch" mechanism in U.S. law that automatically triggers military retaliation upon the president’s death. Under the 25th Amendment to the U.S. Constitution and the Presidential Succession Act, if the president dies, Vice President JD Vance will immediately assume the presidency and the role of commander-in-chief, with military command authority transferring simultaneously. The successor president will independently decide whether to execute, modify, or cancel the relevant orders of the predecessor. Experts note that while the U.S. has established government continuity and nuclear contingency plans, it has never allowed the military to automatically launch retaliatory actions based on preset orders after the president’s death.

Bitmine announced it purchased an additional 27,801 ETH over the past week, and will maintain its steady accumulation pace that has been in place since 2026. The company expects to achieve its so-called "Alchemy of 5%" target this year. As of July 12, Bitmine holds a total of 5.77 million ETH, of which 4.917 million ETH (accounting for 85% of its holdings) has been staked. At an ETH price of $1,820, the total value of its ETH holdings is approximately $9 billion. Based on an annual staking yield of 2.70%, the company’s annual staking revenue is around $242 million; if all its ETH is staked, annual staking rewards would reach $284 million. Additionally, Bitmine said it launched MAVAN (Made in American Validator Network), an institutional-grade Ethereum staking platform, this year, which will be opened to institutional investors, custodian institutions, and ecosystem partners. Bitmine also noted that it is currently the world’s largest ETH reserve institution, and ranks second globally in terms of crypto asset reserve size, trailing only Strategy, which holds 843,775 BTC. The company further stated that the GENIUS Act and the U.S. SEC’s Project Crypto will drive transformation in digital asset financial infrastructure, an impact comparable to that of the end of the 1971 Bretton Woods system on Wall Street’s modernization.