TRUMP unlocked 40 million tokens 5 hours ago, equivalent to around 300 million US dollars

Crypto derivatives trading platform BitMEX faced a class-action lawsuit on the same day it announced it would cease operations in September, accused of manipulating users’ forced liquidations and profiting via internal trading privileges and system mechanisms. BKX Services Inc. and David Namdar filed the suit Thursday with the U.S. District Court for the Southern District of New York, alleging BitMEX fraudulently designed its liquidation mechanism, resulting in total user losses of 622.66 BTC. BKX claims losses of at least 305.81 BTC, while Namdar says his losses exceed 316.85 BTC. The plaintiffs allege BitMEX’s internal trading team accessed users’ private transaction data and continued trading while regular users were unable to close positions due to server freezes, profiting from forced liquidations. Court documents state BitMEX allowed users up to 100x leverage; when a user’s position triggered liquidation, the platform executed automatic liquidation even if collateral value remained higher than actual losses, transferring the remaining BTC to its insurance fund. The plaintiffs are seeking return of the withheld BTC, compensatory and punitive damages, and aim to represent U.S. users who traded BitMEX’s BTC swap products since July 23, 2018. The lawsuit has reignited longstanding external controversy over BitMEX’s liquidation mechanism. Previously, a class-action lawsuit over similar allegations was filed by users in 2020; that case was voluntarily dismissed on June 30, 2025, and does not preclude future filings.

Morgan Stanley strategists said in a report that recent data indicates the Federal Reserve will hold steady at its July policy meeting and likely maintain interest rates unchanged for the rest of the year. They wrote: “The Fed is losing patience with inflation above its target. The trajectory of inflation in the coming months is critical—we expect inflation to cool as anticipated—otherwise the Fed may pivot to raising rates later this year.” Currently, money markets have priced in expectations of nearly two Fed rate hikes by the end of the year. However, the slowing inflation trend may prompt the Fed to hold rates steady this year, keeping the federal funds rate in the 3.50% to 3.75% range. “We expect the downward trend in inflation will keep the Fed on hold this year.”

Tesla and SpaceX founder Elon Musk told *The Economist* in a 90-minute interview that artificial intelligence (AI) could surpass human intelligence within the next five years, and predicted that AI and robots would push the world into an "era of high prosperity" in roughly a decade. Musk argued that once AI systems and robots have sufficiently advanced digital intelligence and production capacity, the global economy could approach a state of "infinite supply", making human work no longer a necessity for survival and gradually reducing the importance of currency. He noted that with enough robots in the future, society would have a "quasi-infinite economy" where AI can produce more goods and services than humanity can consume. He even predicted that by around 2036, the traditional monetary system would likely see its importance decline significantly. On future economic operation models, Musk said governments may maintain social function by distributing funds directly to the public, adding that AI-driven productivity gains could lead to deflation rather than inflation. However, Musk acknowledged that issues including corporate profit models, government fiscal sources, and social transformation mean the AI era’s economic structure could differ drastically from traditional economic laws. Additionally, Musk discussed the integration of AI and space development, stating that future AI computing could be supported by space-deployed data centers, and reiterating his long-term plan for human exploration of Mars. During the interview, Musk also reflected on his prior involvement with the Trump administration’s Department of Government Efficiency (DOGE). He admitted to investing too much energy in politics, saying he "got sidetracked" in some areas, and noted that if given the choice again, he would likely devote more time to his own companies.

According to Hyperinsight monitoring, as of press time, the largest single order related to tech stocks on Hyperliquid has been placed by an intraday swing whale (0x4e2), who holds a total of 209 orders worth approximately $30.679 million. The trading plan includes: "Close AMD short at low levels, add short positions on storage stocks during rebounds": - AMD stop-loss to close short: Currently holds ~$6.051 million in AMD short positions, with an unrealized loss of ~$74,000. A buy order worth $4.012 million has been placed at $542.4 to $544.6, planning to reduce about two-thirds of the short positions first. - AMD reverse to long: Another buy order worth $16.444 million is placed at $531 to $541. The strategy is to close the short position when the price drops to ~$540.48, then reverse to long; if fully filled, the final long position is estimated at ~$14.659 million, with an average price of ~$537.7. - MU add short on rebound: A sell order worth $8.187 million is placed at $1012 to $1080. If fully filled, MU's short position is estimated to expand to ~$7.76 million based on the current mark price, with an average price of ~$1038.3. - SNDK add short on rebound: A sell order worth $2.036 million is placed at $1675 to $1849. If fully filled, SNDK's short position is estimated to expand to ~$1.946 million based on the current mark price, with an average price of ~$1700.7. No triggerable stop-loss orders have been observed so far, and there are no take-profit buy orders for MU and SNDK. The overall strategy is: close AMD short when it falls below the break-even point, then reverse to long; add short positions in the storage sector during rebounds. Previous update: The "US stock market big winner" just pocketed $6.57 million. What are the next take-profit and swing trading levels for the new $58 million order?

JPMorgan Chase raised its price target on Intel (INTC.O) from $45 to $85, following the chipmaker’s release of an unexpectedly strong revenue forecast that signals surging data center spending is fueling its long-awaited recovery. Intel projected third-quarter sales of $15.8 billion to $16.8 billion; even the lower end of this range comfortably exceeds the average analyst estimate of $15.1 billion. The outlook underscores Intel’s growth momentum among data center customers, who are urgently in need of chips to meet artificial intelligence computing demands. Last quarter, sales in this segment surged 59%—more than double Intel’s overall revenue growth rate.

The Drift Protocol exploiter who stole $285M has deposited 23,095 $ETH ($44.4M) into #TornadoCash today. The exploiter still holds 107,165 $ETH ($201M).