Changxin Technology to Kick Off IPO Subscription on July 16

According to Yu Jing Monitoring, a whale went long on SK Hynix worth $30 million at an average price of $1,411 last night, becoming the largest on-chain long position holder. It now has an unrealized profit of $2.08 million and has placed a limit sell order in the $1,880-$1,900 range.

According to Bitget market data, South Korea’s KOSPI index surged 4.00% intraday, with SK Hynix’s gain expanding to 9%.

According to a report by The Information, the U.S. Department of Justice (DOJ) sent an internal memo to prosecutors handling digital currency cases in early June this year, warning them to expect reduced cooperation from Binance, the world’s largest cryptocurrency exchange, in future matters. The memo was sent by Rachel Jones, the DOJ’s digital currency legal counsel, and copied to several senior prosecutors including Kevin Mosley. Mosley led the 2023 prosecution of Binance, when the DOJ accused the exchange and its founder CZ of violating the Bank Secrecy Act and money laundering. The email content reviewed by The Information shows Jones stated Binance will impose stricter new requirements on law enforcement agencies applying for asset freezes and seizures. However, Binance denied this claim in response to a request for comment. A Binance spokesperson said in a statement to The Information: “Binance’s cooperation with U.S. law enforcement agencies has not changed and will not change in the future. Any claim that Binance has reduced or is reducing cooperation with law enforcement is false.”

According to Bitget market data, South Korea’s KOSPI index opened 241.33 points higher on Thursday, July 9, with a 3.33% gain to 7488.12 points. SK Hynix rose 7%, and Samsung Electronics advanced 3%.

U.S. Central Command said early this morning that, at the direction of the U.S. President, the U.S. military has launched further strikes on Iranian targets, aiming to weaken Iran’s ability to threaten freedom of navigation in the Strait of Hormuz. The U.S. stated that Iran has recently carried out "unjustified attacks" on commercial vessels and civilian crew sailing in the international waterway, and the U.S. will hold those responsible accountable. Iran’s Armed Forces Missile Corps and Drone Corps announced they will launch large-scale strikes on U.S. military bases in the Middle East "within minutes". Later, CNN reported that U.S. President Donald Trump said, "They (Iran) just called, they want to make a deal." According to Bitget market data, Bitcoin dipped slightly to $62,214, with a 2.03% drop in the past 24 hours. According to BIT (bit.com) market data, U.S. stocks closed on Wednesday: the Dow Jones Industrial Average fell 1.09%, the S&P 500 declined 0.28%, and the Nasdaq rose 0.2%. Micron Technology (MU.O) gained 1%, NVIDIA (NVDA.O) rose 3.6%, and SanDisk (SNDK.O) increased 6.7%.

The minutes of the U.S. Federal Reserve’s meeting, released early Thursday Beijing time, show that officials have not reached a unified view on the future policy path. If inflation remains elevated this year, further interest rate hikes will be deemed necessary; if price pressures ease soon, rates could stay unchanged. The core question guiding future actions is how long the current forces driving up prices will persist. The divergence reflected in the minutes centers mainly on how the outlook will evolve, not on whether immediate action is needed at the June meeting. Among the 18 participants, 9 projected at least one additional rate hike by December, up from zero in March. The number of participants expecting rate cuts dropped to 1 from 12 in March. The minutes, released three weeks behind schedule, indicate growing concern among policymakers about the inflation outlook. According to the records, the artificial intelligence (AI) investment boom, along with the Middle East conflict and tariff policies, is seen as a factor that could keep prices elevated and push the Fed to raise rates. Just a few months ago, AI infrastructure investment was hardly a key inflation driver in Fed discussions. Now, multiple officials note that surging spending on data center construction and computing power has emerged as a new source of demand, while the economy’s supply capacity is tightening. The minutes state: “Several participants commented that price pressures have become more broad-based, with most goods and services seeing significant increases.” More officials believe that robust business investment driven by AI infrastructure could become a new force sustaining price pressures.