Rarible announced it has gone live on the Solana network.

Tesla (TSLA) announced earlier this year that SpaceX and it had launched the "Terafab" project—the world’s largest chip manufacturing initiative, integrating logic chips, memory chips, and advanced packaging technologies in a single facility. In April, Tesla broke ground on a new R&D wafer fab at the North Campus of its Texas Gigafactory, which served as the precursor to Terafab. Today, the company formally announced that Terafab will be located in Grimes County, Texas. The facility will be an advanced semiconductor wafer fab designed to bridge the massive gap between current global chip supply capacity and future computing demand. SpaceX and Tesla’s combined chip requirements are projected to exceed 1 terawatt (TW) of computing power, a scale far outstripping today’s global supply capacity. The company expressed deep gratitude to its existing chip suppliers and encouraged them to expand production capacity where feasible, adding that the widening gap between future supply and demand is the core reason for the Terafab project. Terafab aims to produce new computing power at an unprecedented scale and speed. The project plans to build a vertically integrated factory spanning over 100 million square feet, covering the manufacturing, packaging, and testing of advanced logic and memory chips. Centralizing these processes in one location will facilitate rapid iterative improvements and accelerate the deployment of new computing capabilities. (Jinshi)

According to official announcements, Trade.xyz has launched contract trading for the Roundhill Photonics & Optics ETF (LYTE), with support for up to 10x leverage.

According to Bitget data, Brent crude oil surged 3.00% intraday, currently trading at $81.17 per barrel. WTI crude oil rose 2.67%.

According to a report in The Economist, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), wrote that the global derivatives market’s notional value has exceeded $1.2 quadrillion, with nearly half falling under CFTC jurisdiction. Amid the proliferation of automated trading, artificial intelligence, algorithmic execution, and real-time decision-making, the U.S. will not adopt a regulatory model based on limited trading sessions, single exchanges, and traditional screen-based trading markets. Selig stated that the CFTC has approved the first "true" Bitcoin perpetual contract as a futures contract, and is exploring the use of regulated stablecoins as collateral. Beyond crypto assets, a major U.S. exchange launched the first all-day gold futures trading service this year, and the CFTC is also discussing with market participants the potential development of non-crypto asset perpetual futures. He added that prediction markets fall exclusively under the CFTC’s jurisdiction, and possess value in information aggregation, forecasting, and price discovery. In response to nine European financial regulators’ claim that prediction market event contracts should be classified as gambling, Selig argued that this view misinterprets the structure of such contracts and overlooks their role in economic indicator and election forecasting. Selig noted that cross-border regulatory cooperation remains valuable, but international agreements and regulatory arrangements should be continuously updated to align with evolving market structures and technological developments. The U.S. will continue to set global standards by encouraging innovation and upholding market integrity, rather than waiting for broad international consensus to form.

The Kobeissi Letter reported that hedge funds net bought $48 billion in U.S. stocks last week, marking the second-largest weekly net buying volume since 2008. Calculated as a proportion of the S&P 500’s total market capitalization, this purchase ranks 24th in historical records. During the same period, institutional investors net sold $3.8 billion, ending a four-week streak of net buying, with their average weekly net purchase over the past four weeks falling to $3.9 billion. Retail investors net sold a modest $200 million in the same period, bringing their average weekly net purchase over the past four weeks down to $600 million. Hedge funds are resuming large-scale buying of U.S. stocks.

Glassnode’s report indicates that the Coldcard vulnerability incident has driven Bitcoin’s daily active addresses to 980,000, a new high since December 2024. The on-chain activity growth is primarily fueled by panic, per Glassnode: holders are migrating wallet mnemonics and transferring funds to alternative custody methods in response to operational security risks. This shift does not represent a change in market confidence.