U.S. Senator: If Powell Is Fired by Trump, It Will Trigger a Market Collapse

According to Bloomberg’s sources, Leopold Aschenbrenner — the 25-year-old rising Wall Street AI star and former OpenAI researcher — has returned to the investment stage just days after his hedge fund neared collapse, plowing $400 million into a private company. The investment, completed on Tuesday, is the first signal of how Aschenbrenner is addressing the fallout after his Situational Awareness fund nearly collapsed last week due to margin calls from multiple Wall Street lenders. This infusion adds to the $100 million the fund already invested in the same company last month. It remains unclear which firm in his private equity portfolio received the additional capital.

U.S. President Donald Trump said during a speech at an event in Las Vegas on local time August 5 that recent oil prices have fallen and stabilized to some extent. "We might have to let it go up again," he stated, adding that he "hopes it doesn’t have to come to that." Trump did not elaborate on the remark. The Associated Press (AP) analysis points out that despite Trump’s repeated assurances that the war with Iran is nearing an end, oil prices usually rise when conflicts between the two sides flare up again.

Sam Blackshear, creator of the Move programming language and CTO of Sui Network, announced he will depart from Mysten Labs — the core development team behind Sui — to join Anthropic, where he will focus on defensive security research. The Move Foundation is currently in preparation, and Blackshear stated he looks forward to continuing his involvement in it in all possible capacities. Evan Cheng, CEO of Mysten Labs, will take over leading the technical vision for both Mysten Labs and the Sui ecosystem.

SK Hynix hit a 30% decline limit at the opening of pre-market trading on Nextrade Thursday. According to Nextrade data, at 8 a.m. local time, 11 shares changed hands at 1.168 million won apiece. The chipmaker’s stock later recouped most of its losses, finishing pre-market trading down roughly 2%. Nextrade, an alternative trading system (ATS) operated in South Korea separate from the Korea Exchange (KRX), is also referred to as NXT. NXT adopts a continuous auction mechanism for pre-market trading: orders are executed immediately if the bid price exceeds the ask price. It remains subject to South Korea’s stock price fluctuation limits, with upper and lower bounds still based on the previous trading day’s KRX closing price, set at a range of approximately 30%.

According to Bitget market data, South Korea’s KOSPI index has extended its decline to 3%, with SK Hynix falling 7% and Samsung Electronics dropping nearly 3%.

Figma reported its latest second-quarter fiscal 2026 results: revenue hit $370.1 million, up 48% year-over-year, exceeding the company’s prior Q2 guidance range. Year-over-year revenue growth is set to accelerate in the third quarter. GAAP gross profit stood at $309.6 million, with a GAAP gross margin of 84%. Non-GAAP gross profit came in at $314 million, for a non-GAAP gross margin of 85%. Year-over-year growth in both GAAP and non-GAAP gross profit accelerated to 40%. GAAP operating loss totaled $117.3 million, with a GAAP operating margin of -32%. Non-GAAP operating income was $36.1 million, with a non-GAAP operating margin of 10%. Both GAAP and non-GAAP operating results were impacted by Figma’s increased sales and marketing investments related to its annual user conference, Config. Operating activities generated net cash of $60.9 million, delivering an operating cash flow margin of 16%. Free cash flow reached $53.2 million, for a free cash flow margin of 14%. According to market data from BIT (bit.com), Figma’s U.S. shares dropped 15.56% in after-hours trading, and were trading at $23.83 during the extended session.