The token Shandi has fallen below the 1,000 yuan mark, logging a cumulative drop of over 50% in the past month.

U.S. White House National Economic Council Director Hassett: We expect Federal Reserve Chair Walsh to make the right decision.

Market news: OpenAI CEO Sam Altman spoke to reporters after meeting with US Republican Senator Ted Cruz. The two sides discussed new artificial intelligence models, with Altman expressing support for an AI safety bill, though he did not disclose specific details.

According to Politico, U.S. Republicans raised the debt ceiling by $5 trillion last year. Now, they are already considering how to avoid falling back into a "fiscal cliff" during Trump’s term. Independent forecasting agencies project that the U.S. will reach "X Date"—the final deadline to avert a U.S. debt default—between next summer and early 2028, a period that coincides with the intensification of the presidential primary season. Two sources familiar with the matter said that to avoid high-stakes negotiations with Democrats, White House officials have privately proposed raising the U.S. debt ceiling of $41.1 trillion via a partisan spending bill that many Republicans hope to pass ahead of the November midterm elections. If Republicans lose control of either chamber of Congress in the upcoming midterms, this move could save Trump significant trouble, as Democrats will in any case demand concessions in bipartisan negotiations to prevent an unprecedented national debt default—with the total national debt currently nearing $39.7 trillion.

Bank of America’s report flags seven persistent risks for stocks in the AI and semiconductor sectors, detailed below: 1. Hardware trading has turned into a "tourist trade" — even medical tour groups are discussing SNDK. Late buyers of MU may still face a washout, while sharp daily volatility is forcing committed bulls to exit positions. 2. Good news no longer moves markets. TSM, ASML, and INTC have declined even after reporting strong earnings, with intraday rebounds consistently met by selling pressure. Capital expenditure cuts by large-scale players will harm AI suppliers, while hikes will pressure free cash flow; financing activities are also stoking funding concerns. Ordinary upside surprises may no longer be enough to drive gains. 3. Investors are bearish on AI labs but still bullish on their infrastructure. Spending by OpenAI and Anthropic is already embedded in suppliers’ backlogs and financial data. Open-source weighted models may eventually boost compute demand, but the transition process is unlikely to be smooth. 4. Token deflation is a double-edged sword. Cheaper tokens can accelerate adoption but will also compress lab profits and intensify hardware and power optimization efforts. More compute power does not automatically translate to higher profits for every supplier. 5. Memory sector estimates may need to be revised downward. Lower valuation multiples alone may not suffice; stocks that appear cheap based on unrevised projections may not actually be undervalued. 6. Credit has entered the stock market debate. Financing for the entire ecosystem has become a "trillion-dollar game of chicken". 7. The sector’s ongoing correction may stem from position and factor adjustments rather than a single fundamental breakdown. Investors will later apply narratives around open-source models, ROI, financing, and optimization to price movements.

Coinbase announced it will list Grvt (GRVT). Users can now generate GRVT deposit addresses on Coinbase’s official website, mobile app, and Coinbase Exchange in supported regions, though deposit functionality will be activated only after the project team unlocks token transfers.

According to Bitget market data, all three major U.S. stock indexes fell by over 1%: the S&P 500’s decline widened to 1%, the Nasdaq is now down 1.3%, and the Dow Jones is currently down 1.6%.