Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

U.S. Strategic Petroleum Reserve (SPR) crude oil inventories fell by approximately 5.1 million barrels last week, dropping to 311.4 million barrels, the lowest level since 1983.

Morgan Stanley analyst Joseph Moore noted that following discussions with multiple data center procurement personnel last week, the current tight memory supply shows no signs of easing. DRAM and other memory products are expected to rise by at least 25% on a comparable basis from the second quarter to the third quarter, a figure higher than previous forecasts from Morgan Stanley and third-party institutions. Moore added that the memory shortage could further deteriorate in 2027 and 2028, as AI demand is consuming massive DRAM capacity, squeezing supplies for other sectors such as PCs and smartphones. Morgan Stanley further holds that the current market is not only grappling with surging memory demand driven by AI, but insufficient memory supply itself is emerging as a key bottleneck limiting AI expansion.

U.S. Central Command said that as of July 20, U.S. military forces have forced seven commercial vessels to alter their routes and disabled one merchant ship to prevent vessels from entering or leaving Iranian ports. (Jinshi)

U.S. Securities and Exchange Commission (SEC) announced it has filed a lawsuit against Florida resident Zan Shaikh and his firm Mining Automatic, accusing them of raising roughly $22 million from more than 380 investors via a fraudulent cryptocurrency mining investment scheme and misappropriating investor funds. The SEC noted that between June 2023 and May 2025, the defendants promised investors guaranteed monthly returns from crypto mining, but in practice only deployed about 13% of the raised capital to the purported mining operations, with the remainder largely used for marketing, attracting new investors, and covering personal and other unrelated business costs. The SEC added that the total funds raised by the defendants are at least $20 million higher than the amount returned to investors. The SEC has charged them with violating anti-fraud and securities issuance provisions under the U.S. Securities Act of 1933 and the Securities Exchange Act of 1934. Both parties have agreed to accept a permanent injunction once court-approved; the court will determine the amount of subsequent illegal proceeds to be repaid, interest, and civil penalties.

Nansen founder Alex Svanevik has published a post stating he is once again bullish on Apple. He notes that Siri and search functions in the iOS 27 Beta version have seen notable improvements, and while there remains room for further enhancement, the development direction is correct. Additionally, Svanevik points out that the advancement of small models will significantly benefit Apple, with high-quality on-device AI inference set to become a reality soon. The new CEO Ternus, who has a hardware background, is expected to further strengthen Apple’s hardware advantages. Meanwhile, Apple still boasts robust free cash flow and retains the most influential brand position in the tech industry—these factors collectively underpin his long-term optimism toward the company.

According to market sources, the head of the artificial intelligence security agency under the U.S. Trump administration has resigned. (Jinshi)