U.S. CFTC Acting Chairman: Enforcement Division Restructured, Refocused on Combating Fraud

According to market data from BIT (bit.com), AI application software stocks collectively closed higher. Among them: Atlassian (TEAM) surged 35.31%, Asana (ASAN) rose 6.68%, ServiceNow (NOW) gained 6.42%, MongoDB (MDB) jumped over 7%, Salesforce (CRM) increased 3.20%, Palantir (PLTR) climbed more than 10%, and Workday (WDAY) rose over 5%.

According to Axios, Trump Media & Technology Group (TMTG) is scaling back its crypto business, exiting two crypto-related deals it had been advancing with Crypto.com and Yorkville Acquisition Corp. Kevin McGurn, TMTG’s interim CEO, said the company wants to refocus on its media business and a potential merger plan with nuclear fusion energy firm TAE, noting that the digital asset treasury company market has become saturated over the past year. Specifically, TMTG, Crypto.com, and Yorkville have jointly announced the termination of the Trump Media Group CRO Strategy initiative. The three parties stated the decision was made based on “changes in the current market environment and adjustments to business and stakeholder priorities”. They also scrapped the previously announced service cooperation agreement and some digital asset product plans. Earlier, the project aimed to build a publicly listed company around Crypto.com’s Cronos blockchain and CRO token, generate revenue by building a large CRO token reserve, and become “the first and largest publicly traded CRO treasury company”. Additionally, TMTG and Crypto.com have scaled back plans to integrate a prediction market directly into the Truth Social platform, instead considering promoting Crypto.com’s prediction market products to Truth Social users through marketing partnerships. McGurn said the company believes TMTG is better suited to serve as a data and traffic distribution platform rather than operating underlying financial products. Currently, the number of clients for Truth Social’s data API business has risen to around 10, including high-frequency trading firms that use social media data to support algorithmic trading. The company also plans to explore licensing data to large AI model developers and prediction market platforms in the future.

According to Bloomberg, data center company Switch Inc. has confidentially filed for an initial public offering (IPO) in the U.S., becoming one of the data center firms seeking to go public amid the recent boom in artificial intelligence (AI) infrastructure investment. Sources familiar with the matter disclosed that Switch plans to list as early as November this year, and is currently working with investment banks including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley to advance the offering. The company is targeting an enterprise valuation (including debt) of nearly $50 billion after going public. Additionally, Ben Horowitz, co-founder of venture capital firm Andreessen Horowitz (a16z), will join Switch’s board of directors. Switch was previously preparing for a new round of funding led by a16z, and may seek a valuation of nearly $50 billion. Headquartered in Las Vegas, Switch operates data centers in Nevada, Michigan, Georgia, Texas, and other regions. The company is currently controlled by DigitalBridge, which in 2022 acquired Switch for approximately $11 billion including debt alongside other investors. The IPO filing comes as the capitalization of the AI data center industry accelerates. So far this year, multiple data center operators and related equipment and service companies have raised funds through U.S. IPOs. The market believes that as demand for AI model training and inference continues to grow, computing power infrastructure is emerging as a new hot spot drawing capital market attention.

According to a report from The Information, NVIDIA has agreed to invest $2 billion in power infrastructure developer Lancium, with an additional $1 billion commitment to follow once the company secures more planned power resources, bringing the total transaction size to up to $3 billion. Lancium is the power infrastructure provider behind OpenAI and Oracle’s Stargate AI campus in Texas. The transaction values Lancium and its portfolio of land and power connection assets at an enterprise value of approximately $10 billion, inclusive of the investment amount and debt. Sources familiar with the matter revealed that NVIDIA’s $2 billion investment will secure a roughly 20% stake in Lancium. The deal further underscores the critical role of power infrastructure in the AI industry chain, as NVIDIA accelerates its footprint in the AI data center ecosystem via investments in energy and computing infrastructure.

Per monitoring by Onchain Lens, a whale purchased 50,000 ETH from a Fidelity-associated wallet yesterday, valued at approximately $95.73 million. Three hours ago, the whale transferred 36,530 ETH (worth around $69.94 million) to a new address. On-chain data shows that, based on the address’s past transaction patterns, these funds may subsequently be moved to Coinbase for sale. The relevant address is: 0x951A4d24BA0F038B9872F253C380836Db9E67D53.

According to EmberCN’s monitoring, HyperLabs, the development team of Hyperliquid, redeemed 433,000 HYPE tokens from staking this morning, worth $24.25 million, and has sold them via market maker Flowdesk. Over the past several hours, 165,000 HYPE have been transferred to Flowdesk; 75,000 HYPE were deposited into Hyperliquid and sold for USDC; another 90,000 HYPE, valued at $5.04 million, have been moved to OKX and Bybit.