Changxin Technology saw a short-term rally today, with all short-selling whales liquidated within 30 seconds of the market opening.

South Korea’s stock market has recently faced intense selling pressure, with AI chip trading shifting from a crowded high-level position to concentrated liquidation. The KOSPI index hit an intraday all-time high of 9,385.59 points on June 19, before plummeting in less than a month and a half. Calculated at the current level around 5,689 points, the index has pulled back roughly 39% from its peak; measured against yesterday’s intraday low, the maximum decline is nearly 44%. In terms of market capitalization, the KOSPI’s total market cap has shrunk sharply from its mid-June high, with market estimates putting the evaporated value approaching $2 trillion (roughly 1.55 times Bitcoin’s total market cap). The core pressure driving this round of declines is concentrated in semiconductor heavyweight stocks. The KOSPI is a market-cap weighted index, with Samsung Electronics and SK Hynix exerting enormous influence on the benchmark. Recent calculations show Samsung Electronics accounts for nearly 30% of the KOSPI’s market cap, while SK Hynix makes up over 20%, bringing the two firms’ combined weight to more than 50%. In other words, South Korea’s main board index is highly tied to AI memory, High Bandwidth Memory (HBM), and the semiconductor cycle in this market move. Previously, SK Hynix’s stock surged on the back of HBM demand, memory price hikes, and AI server orders, while Samsung Electronics also benefited from market bets on an AI memory recovery. However, as global tech stock volatility intensified, investors began reassessing risks including returns on AI capital expenditure, competition from Chinese memory players, stretched valuations, and the risk of leveraged funds exiting, triggering a sharp reversal in South Korea’s semiconductor stock chain.

According to monitoring by OnchainDataNerd, over the past 12 hours, Multicoin Capital deposited 137,100 HYPE tokens into Coinbase Prime, worth approximately $7.51 million, while Bitwise transferred 22,463 HYPE tokens to Coinbase, valued at around $1.23 million. The two institutions have collectively moved 159,563 HYPE tokens, totaling roughly $8.74 million in value, with all funds flowing to Coinbase.

A whale is making highly leveraged bullish bets on #SP500, $MU, and $SNDK, opening $86M in positions over the past hour! Including: 10,124 xyz:SP500($74.46M) 9,133 xyz:MU($6.75M) 4,693 xyz:SNDK($4.83M)

Zcash co-founder zooko (@zooko) has published a post stating that external concerns over potential secret ZEC supply inflation are unfounded. Anyone can verify the current total ZEC supply of 16,848,458 coins on their local computer, with no need to wait months for such verification. The background is that Zcash is undergoing a protocol migration from Orchard to Ironwood, a process that led some users to mistakenly believe they must wait for the migration to complete to confirm whether an inflation issue exists. In response, Boston Zcash pointed out that Zcash’s "rotating wheel" mechanism is designed such that 100% of Orchard funds will never be fully migrated to Ironwood (due to factors like lost private keys), so "migration completion" itself is not the correct standard to judge inflation.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Persian Gulf Marine Insurance and HormuzSafe Maritime Services Administration. The two entities provide insurance policies approved by Iran’s Islamic Revolutionary Guard Corps (IRGC) for commercial vessels transiting the Strait of Hormuz, and accept digital assets such as Bitcoin to evade sanctions. OFAC also sanctioned eight shadow fleet vessels transporting Iranian crude oil and petroleum products, along with their affiliated companies. Since the start of this year, OFAC has sanctioned more than 100 vessels linked to Iran’s shadow fleet.

According to an official announcement, Binance’s US stock trading service will be temporarily unavailable as part of system upgrades for its partner broker program. During the upgrade window, users will not be able to submit stock trading orders. The system upgrade is scheduled to run from 18:50 to 21:30 on August 1, 2026 (East Eight Zone Time).