Strong US Economic Data Drives Up Treasury Yields

The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) today filed separate civil lawsuits against Goliath Ventures and its founder Christopher Delgado, accusing them of operating a crypto Ponzi scheme through unregistered securities offerings. The firm raised at least $425 million from over 1,300 investors, promising to deploy funds into crypto liquidity pools for monthly returns of 3% to 10% while guaranteeing principal safety. In reality, no funds were actually invested; the company used new investors’ capital to pay early backers, fabricated account balances and performance metrics, and paid commissions to sales agents who recruited investors. Delgado personally embezzled at least $51 million for luxury spending. In its parallel lawsuit, the CFTC noted that roughly 1,600 customers were lured into trading bitcoin and ether, suffering combined losses of at least $397 million. In November 2025, the firm could no longer quickly raise enough funds to meet redemption obligations, and collapsed entirely after halting monthly distributions. Delgado had previously pleaded guilty to charges of conspiracy to commit wire fraud, wire fraud, and money laundering. The U.S. Department of Justice stated on June 30 that at least $400 million flowed into Goliath. Delgado admitted to causing at least $250 million in investor losses and agreed to forfeit real estate, vehicles, luxury goods, bank accounts, and crypto wallets traceable to the scheme. Delgado has agreed to a split settlement with the SEC, subject to court approval, which will permanently bar him from violating relevant securities laws, engaging in securities trading (except for personal accounts), and associating with broker-dealers. The court will separately rule on the disgorgement of illegal proceeds, pre-judgment interest, and civil penalties.

Super Micro Computer (SMCI) released its fiscal 2026 fourth-quarter financial results, reporting revenue of $11.12 billion, nearly doubling from $5.76 billion in the year-ago period, though slightly missing analysts' expectations of $11.3 billion to $11.6 billion, mainly due to delays from customers related to power, cooling and networking. Gross margin improved sharply to 17.5%, exceeding not only the company’s preliminary forecast of 15% to 17% last month, but also the initial expectation of 8.2% to 8.4%. Adjusted earnings per share (EPS) came in at $1.70, far surpassing analysts’ estimate of $0.92; net profit reached $1.17 billion, compared to just $195.2 million in the same period last year. The company also issued strong guidance: it projects revenue of $14.5 billion to $15.5 billion for its first fiscal quarter (ending in September), with adjusted EPS of $1.01 to $1.10, well above analysts’ consensus estimate of around $12 billion; fiscal 2027 revenue guidance is set at $65 billion to $72 billion, far exceeding analysts’ expectations of $52.5 billion to $54.4 billion. New orders exceeded $60 billion, while backlog hit an all-time record; nine clients each contributed over $1 billion in revenue in fiscal 2026, compared to four in the year-ago period. According to market data from BIT (bit.com), SMCI closed up 0.45% and rose an additional 7.56% in after-hours trading.

According to Bitget market data, South Korea’s KOSPI index opened up 75.05 points, or 1.18%, to 6,420.58 points. Both Samsung Electronics and SK Hynix rose more than 1%. Japan’s Nikkei 225 index opened up 17.26 points, or 0.03%, to 66,987.48 points.

According to OnchainLens monitoring, a crypto whale has sold Ethereum worth $9.59 million. Over the past hour, the whale transferred 5,100 ETH (approximately $9.59 million) to FalconX, Galaxy Digital, and Coinbase, likely for over-the-counter (OTC) trading. Specifically, 2,440 ETH (valued at around $4.59 million) was sent to FalconX; 1,180 ETH (about $2.22 million) to Galaxy Digital; and 1,480 ETH (roughly $2.78 million) to Coinbase.

The "Big Short" Michael Burry has disclosed his updated portfolio: he increased his short position in NVIDIA (NVDA); added short positions in Palantir (PLTR) at $175, Oracle (ORCL) at $145, Caterpillar (CAT) at $844, and semiconductor ETF (SOXX) at $533; and added a long position in Molina (MOH) at $198.

The U.S. Commodity Futures Trading Commission (CFTC) announced it has invoked emergency authority to order prediction market platform Kalshi to continue operating in New York State, directly opposing the New York State government’s lawsuit seeking to shut down the platform. New York State Attorney General Letitia James sued Kalshi in late July, accusing the platform of offering sports-related prediction markets in violation of state law, and charging it with operating without a license and evading required taxes. A federal judge had previously rejected Kalshi’s request to block New York State’s lawsuit. CFTC Chairman Mike Selig made clear that Congress did not intend for derivatives trading platforms to be regulated by fragmented state rules, noting that prediction markets are federally regulated swap products and fall under interstate financial markets, so New York State has no authority to intervene with its own state laws. Selig criticized New York State for attempting to kill event contract derivatives before a final court ruling. This conflict further intensifies the long-running battle over regulatory authority for prediction markets between the federal and state governments. States argue that at least sports-related prediction markets fall under state law regulation, while the CFTC insists it holds comprehensive jurisdiction.