Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

The New York City Council is investigating the advertising practices of prediction market platforms Polymarket, Kalshi, Coinbase, and Titan, a prediction market platform under Gemini, as the prediction market industry faces new regulatory pressure. New York City Council Speaker Julie Menin has sent letters of inquiry to the four platforms as part of the legislative investigation, to assess whether existing city laws sufficiently protect residents from false or deceptive marketing. Additionally, the council is reviewing relevant policies to address issues such as prediction market products possibly inducing users to engage in "forced speculation" on event contracts. In its letter to Polymarket, the council noted that the investigation not only covers allegations against the platform but will also evaluate the prevalence of similar marketing practices across the entire prediction market industry and their potential social harms.

Wall Street analysts overall hold constructive views on AI dedicated computing cloud service provider CoreWeave’s Q2 results, which reached $2.575 billion in revenue, up 112% year-over-year. They attribute the company’s better-than-expected performance mainly to strong growth in demand for AI infrastructure and improved profit margins. Five analysts raised their price targets: Wells Fargo to $160 (overweight rating), Piper Sandler to $153 (overweight rating), Baird to $130 (outperform the market rating), citing growth in net new active megawatts, strong Q3 bookings, and diversification of enterprise AI applications. JPMorgan and Mizuho maintained neutral ratings while slightly lifting their price targets to $120 and $115 respectively, noting that while Q2 margins improved, near-term revenue upside still faces uncertainty.

Cloud computing firm Nebius (NBIS) released its Q2 financial results, with the company’s Q2 revenue hitting $582.3 million, a 454% increase from $105.1 million in the same period last year. Adjusted EBITDA for the second quarter stood at $236.2 million, compared to a loss of $21 million in the year-ago period, turning profitable; adjusted net loss narrowed 64% to $33.2 million, from a net loss of $91.5 million in the same period last year. However, the company’s net loss from continuing operations in Q2 was $190.4 million, versus a net profit of $502.5 million in the year-ago quarter. For the first half of 2026, Nebius’ cumulative revenue reached $981.3 million, up 529% year-over-year; adjusted EBITDA came in at $365.7 million, compared to a loss of $74.7 million in the same period last year.

Goldman Sachs analyst James Schneider maintained a "Buy" rating and a $285 price target for Nvidia ahead of the chipmaker’s second-quarter earnings release. The firm anticipates investors will zero in on details of Nvidia’s recently announced $500 billion financing platform launched in partnership with its partners, the ramp-up of its Rubin product line in the second half of the year, future gross margin trends, and the potential upside of agent AI for CPUs.

According to an analysis by Societe Generale, artificial intelligence (AI) could accelerate the development of a K-shaped economy, an economic model where gains are increasingly concentrated among those already at the top. The analysis notes that while AI may help narrow wage gaps by enabling less specialized workers to complete more complex tasks, its impact on wealth could be vastly different. Since AI rewards computational power, models, data, and ownership of financial assets, this could further concentrate wealth. This trend is already evident in the AI "winners" that are increasingly dominating stock markets and corporate profits.

Cypherpunk Technologies (Nasdaq: CYPH), a ZEC treasury company, released its Q2 2026 financial results, reporting a net profit of $39.39 million, or $0.18 in diluted earnings per share (EPS), compared to a net loss of $16.64 million in the year-ago quarter. Operating loss came in at $4.69 million. Research and development (R&D) expenses totaled $200,000, a sharp decline from $10.54 million in the same period last year, primarily due to the completion of clinical trials. General and administrative expenses reached $4.49 million, up $2.75 million year-over-year, driven by increased equity-based compensation. As of June 30, the company held $7.6 million in cash. On the ZEC holdings front, ZEC’s price rose from $243.35 to $400.09 during Q2, generating $46 million in non-cash unrealized gains, the main driver of the quarter’s profitability. As of August 11, 2026, the company held a total of 323,394.38 ZEC at an average cost of approximately $341.83, accounting for roughly 1.92% of ZEC’s total circulating supply, with a holding market value of around $129 million. In business updates, the company appointed Dev Ojha, founder of Valar Group, as an advisor. Valar Group is a team focused on Zcash network development and research, and leads the development of high-performance full-node software Zakura and the Ironwood shielded pool. Subsidiary Leap Therapeutics reached an agreement with the U.S. Food and Drug Administration (FDA) on the Phase III clinical trial design of sirexatamab (DKK1 monoclonal antibody), and obtained FDA Fast Track designation in May 2026 for treating second-line metastatic colorectal cancer patients with high DKK1 expression. The company has also launched a strategic process to evaluate the optimal path for advancing sirexatamab development, either through independent financing or in partnership with third parties.