Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

The new draft of the CLARITY Act has been officially released. This draft merges the versions from the Senate Banking Committee and the Senate Agriculture Committee, and includes ethics provisions for the first time. The voting process is expected to start this Monday or Tuesday, with a formal vote possibly held as early as the week of August 3.

Half a year after being repatriated, Chen Zhi, founder of Cambodia’s Prince Group, has been approved for arrest. Chen was formally approved for arrest on July 6. Compared with when he was repatriated, the charges against him have been adjusted: the charge of concealing proceeds of crime was dropped, while new charges of copyright infringement and intentional harm were added. Over the years, Chen built a global telecom fraud network centered on the "Jinbei Park". As a self-styled "duke", he earned millions of dollars daily and amassed a net worth of tens of billions of US dollars. The Bitcoin seized by the US alone is worth $15 billion (equivalent to about 103.5 billion yuan). According to a notice from China’s Ministry of Public Security (MPS), on January 7, 2026, with the support and cooperation of Cambodian authorities, the MPS dispatched a working group to repatriate Chen Zhi, a Chinese national and leader of a major cross-border gambling and fraud criminal group, from Phnom Penh, Cambodia. The earlier notice revealed that Chen’s criminal group was suspected of multiple crimes including operating gambling dens, fraud, illegal business operations, and concealing proceeds of crime, and had been lawfully taken compulsory measures.

In its latest report, Bernstein stated that Naver’s board of directors has approved a private placement of 7.2 million common shares to NVIDIA at a price of 204,500 won per share, raising approximately 1.5 trillion won, or roughly $10 billion. Upon completion of the transaction, NVIDIA will hold around 5% of Naver’s shares, becoming one of the company’s key strategic shareholders. Bernstein believes NVIDIA’s stake will bolster market confidence in Naver’s AI Factory. As global AI infrastructure investment continues to expand, chip supply, capital support, cloud infrastructure, and downstream demand are accelerating their integration. Naver, NVIDIA, and Brookfield had previously planned to jointly invest in gigawatt-scale, multi-tenant AI cloud infrastructure to deliver computing power support for next-generation AI enterprises in South Korea and the U.S. The report notes that Naver’s AI Factory aligns more closely with the "neocloud" collaboration model: infrastructure investors provide capital, chip vendors support computing power deployment, AI ecosystem partners contribute demand and model capabilities, while Naver acts as the central coordinator responsible for organizing and operating the entire technology stack. With NVIDIA as a shareholder, concerns over hardware procurement, demand visibility, and long-term ecosystem support are expected to ease, enhancing the feasibility of subsequent SPV financing and external capital raising. Bernstein maintains an "Outperform" rating on Naver, with a target price of 330,000 won. Based on Naver’s July 24 closing price of 209,500 won, this implies a potential upside of approximately 58%.

Crypto Quant analyst Axel Adler Jr noted in a post that Bitcoin’s valuation metric, the MVRV Z-Score, has dropped to a multi-year low but remains above negative territory, signaling the market is undervalued rather than in the full capitulation phase typical of a cycle bottom. Data shows BTC’s MVRV Z-Score is currently around 0.42, far below its historical average of 1.7, and has hovered near zero for 30 consecutive days. Since the end of 2025, the metric has trended downward, hitting a phase low of roughly 0.185 on June 30, but has not entered negative territory which would indicate widespread selling. Meanwhile, BTC’s 7-day realized profit/loss metric has turned positive, standing at approximately +$239 million. For most of the prior month, this metric was negative: losses hit $8.5 billion in June, and a weekly loss of around $3 billion was recorded in mid-July. The rebound in realized profit/loss shows selling pressure is easing, but the MVRV Z-Score has yet to break below zero to trigger capitulation selling, meaning the market is currently closer to an “undervalued + stabilizing” phase rather than a confirmed cycle bottom. If the MVRV Z-Score later rebounds toward its historical average of 1.7 and realized profit/loss stays positive, this could signal a market upturn; conversely, a drop below the June low of 0.185 and entry into negative territory would likely indicate a new round of pressure release.

Iranian Foreign Ministry Spokesman Bahaei: The situation in the Strait of Hormuz has not changed, and the strait remains closed. (Jinshi)

Iranian Foreign Ministry Spokesman Baghaei said that at the outbreak of the war, the United States believed "Iran would collapse and surrender within three days. Now, months later, the U.S. has ended up in this situation yet still takes pride in the crimes it has committed." Baghaei also noted that whenever global energy prices rise, the U.S. returns to the negotiating table. (Jinshi)