OpenAI officially launches the GPT-5.6 series of models.

South Korean semiconductor firm SK Hynix has completed its US depositary receipt (ADR) offering, raising $26.5 billion, setting a new record for the largest initial public offering (IPO) by a foreign company in the US and becoming the third-largest listing in global securities history. SK Hynix issued a total of 177.9 million ADRs, priced at $149 each, with each ADR equivalent to one-tenth of its common shares traded on South Korea’s domestic stock market. The final offering price was approximately 3% higher than the closing price of its home-listed shares. Per the transaction terms, SK Hynix ADRs will launch pre-market trading on the Nasdaq Global Select Market on Friday under the temporary ticker symbol "SKHYV", and are scheduled to switch to the official ticker "SKHY" for regular trading starting July 13. The offering is led by Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase, with 9 additional firms participating. Market feedback shows the offering received over 7 times oversubscription, with total subscription interest approaching $200 billion. Asset management firms including Baillie Gifford, Coatue Management, and Situational Awareness Partners took part in the subscription, with the top ten orders absorbing nearly half of the total shares. SK Hynix aims to list on the US stock market to narrow the valuation gap with US peers such as Micron Technology, and leverage overseas capital premiums to boost its corporate value. As a core supplier of high-bandwidth memory (HBM) for NVIDIA, SK Hynix already holds a significant market share in this segment. Meanwhile, US Secretary of Commerce Howard Lutnick stated he is in talks with Samsung Electronics and SK Hynix, urging the two South Korean memory chip manufacturers to expand production in the US to enhance the resilience of America’s domestic chip supply chain.

The USDT Circulating Supply on #TRON has surpassed $90B. The network also processes an average of $23.8B in daily USDT transfer volume.

，据彭博社报道，Polymarket 正在寻求监管批准，以在美国合法提供保证金交易。若获批，用户将能够以更少的前期资金押注事件结果，也有助于该预测市场平台吸引更成熟的交易者。根据 7 月 3 日提交给美国全国期货协会的文件，Polymarket 已通过其关联公司 Coming Home GBA LLC 申请注册为期货佣金商（FCM）。此外，Polymarket 还需要获得美国商品期货交易委员会批准，对其规则手册进行修改，以允许非全额抵押交易。

Federal Reserve Chair Kevin Warsh has formed five working groups to conduct a comprehensive review of the Federal Reserve’s monetary policy operational framework, covering areas including balance sheet management, policy tools, and the impact of artificial intelligence. The Fed stated that each working group will operate independently, conduct fact-based research, and submit rigorous analysis findings to the Federal Open Market Committee (FOMC). The groups will assess whether there is room for improvement in policy tools, analytical methods, and policy frameworks. Members of the review team include several prominent economists and former central bank officials. Among them, Harvard University economist Raj Chetty will co-lead the data working group, tech investor Marc Andreessen will head the productivity and employment working group, and former Chair of the White House Council of Economic Advisers Greg Mankiw will co-lead the inflation working group. Warsh noted that the U.S. economy has undergone massive changes over the past generation, with an even faster pace of transformation currently. The Federal Reserve needs to ensure it is operating at its optimal state to achieve its dual mandates of price stability and maximum employment. (Jinshi)

The $LAB team just burned 10M $LAB ($11.3M).

According to Bloomberg, Goldman Sachs has banned its employees from trading in prediction markets, with the exception of sports and entertainment bets. This marks one of the clear steps Wall Street firms are taking to address new regulatory challenges stemming from the surge in event betting activity. Goldman recently updated its personal trading policy, prohibiting employees from trading event contracts linked to specific companies (including Goldman itself), as well as contracts tied to election outcomes and any financial market performance. Repeated policy violations may result in employee dismissal or account closure; in cases of improper trading, Goldman can also require staff to surrender profits exceeding $200 or donate the funds to charity. The firm’s policy explicitly bans employees from participating in event contracts related to corporate restructurings, mergers and acquisitions, ceasefire dates, Bitcoin prices, and M&A regulatory approval outcomes, among others. However, contracts such as "whether a particular team will win a championship" remain permitted. By comparison, JPMorgan Chase previously only required employees to "think carefully" before engaging in finance-related prediction markets, while hedge funds including Point72 and Balyasny have fully banned staff from using prediction markets via personal accounts.