A newly created wallet withdrew 17,675 ETH from Binance, valued at $28.58 million.

US Secretary of State Rubio stated, "We will not accept the assertion that the Strait of Hormuz belongs to any country." (Jinshi)

A spokesperson for the Iraqi government stated that Iraq is working to restore its full oil export capacity and plans to increase its oil production to 7 million barrels per day in the coming years. (Jinshi)

South Korean regulatory authorities have ordered cryptocurrency exchange Bithumb to pay a 210 million won (approximately $136,000) fine for sharing user personal information with overseas platforms without user consent. According to an announcement released Thursday by South Korea’s Personal Information Protection Commission (PIPC), the relevant user data exposure occurred between September and November 2025. At that time, Bithumb transferred user information to overseas platforms while sharing its USDT market order book data. The PIPC also noted that when assisting users with asset transfers to 13 overseas exchanges, Bithumb failed to obtain full and sufficient user consent before sharing personal details including names, wallet addresses, and dates of birth. For the two violations, the PIPC not only imposed the fine but also ordered Bithumb to rectify its processes and management systems related to cross-border transmission of user information.

According to Bloomberg, SK Hynix is set to issue American Depositary Receipts (ADRs) on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, making it one of the largest ADR issuances in history. Market participants widely believe the move will significantly expand its global investor base and may drive a valuation re-rating. Multiple asset management firms project that if its valuation converges with Micron Technology’s, its share price could rise by 30% over the next year. One fund manager noted that SK Hynix should trade at a valuation at least on par with Micron, as demand for memory chips is likely to outpace supply for years to come. The listing comes amid an unusually strong boom in the memory chip sector. Shares of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking their best annual performance in decades. Demand for High Bandwidth Memory (HBM) from AI servers is widely seen as the driver of a structural "memory supercycle".

Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.

Arm’s stock price pulled back this week alongside the high-valuation AI sector, though some Wall Street analysts say the correction does not alter the company’s long-term standing in AI data centers. UBS sharply raised Arm’s price target from $260 to $470, retaining its Buy rating; TD Cowen lifted its target from $265 to $475, also keeping a Buy recommendation. Both firms share the view that as agentic AI evolves, CPUs could gain greater importance in data center architectures, rather than GPUs continuing to monopolize the investment narrative. TD Cowen believes that over the long term, CPUs could hold a more strategic position in certain AI workloads. UBS, meanwhile, emphasizes that the real debate in the market centers on the revenue potential of Arm’s self-developed or independent CPU business. The bank projects Arm’s CPU-related revenue could reach around $14 billion by 2030, though the company itself has stated this business will not have a material impact on its finances until fiscal 2028. Arm’s strengths lie in low latency and energy efficiency—metrics that major cloud providers are increasingly prioritizing as they expand AI infrastructure. Even with its stock pulling back from recent highs in the short term, analysts still view Arm as one of the key beneficiaries of the server CPU upgrade cycle.