Citigroup downgraded its rating for the South Korean stock market to "Neutral".

According to official announcements, Native Markets has announced that the USDH official website has been sunset. Over the coming months, users will still be able to redeem and exchange USDH for U.S. dollar assets at a 1:1 ratio via the redemption page provided by the Bridge. Native Markets stated that the final exit procedures for USDH and related information will continue to be made available through the USDH official website.

Kenya's government is investigating the hacking incident targeting President William Ruto's official website. On July 18, attackers briefly altered the president's official site page and demanded a ransom of 5 BTC, threatening to leak undisclosed data if not paid. Kenya's Cabinet Secretary for Information, Communication and Digital Economy stated that the government has activated its cybersecurity response mechanism and is conducting a forensic investigation in collaboration with relevant agencies. There is currently no evidence indicating unauthorized access to or leakage of sensitive data, and government digital services remain operational.

Bitcoin mining company LM Funding America (NASDAQ: LMFA) announced it will rebrand to PowerCompute Inc. and adopt a new stock ticker "PWCM" effective July 22. The company stated that the rename marks its strategic transformation, as it leverages its existing 26 megawatts (MW) of owned power infrastructure to expand into high-performance computing (HPC) and artificial intelligence (AI) infrastructure businesses. Currently, the firm operates two facilities in Oklahoma and Mississippi, U.S., with 26 MW of power capacity, and plans to provide infrastructure services to AI computing clients. It will also continue holding Bitcoin assets as part of its balance sheet.

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)