Former Treasury Secretary Downplays Economic Recession Concerns, Calls Stock Market Pullback a Natural Phenomenon

According to The Wall Street Journal, multiple investors claim they indirectly held SpaceX shares via special purpose vehicles (SPVs) of investment firm Late Stage Management. However, after SpaceX went public in June 2026 at a $1.77 trillion valuation, investors were unable to access their accounts and were informed by the company that their shares had been sold in 2024, missing out on massive gains. The investors have filed complaints with the U.S. Securities and Exchange Commission (SEC) and hired legal counsel, with both sides holding major disputes over shareholding status. Founded in 2015, Late Stage marketed itself to individual investors as a channel to access unlisted shares of high-profile tech companies, claiming it would only generate revenue after the company’s shares went public. In March this year, three Late Stage executives admitted to fraud charges against investors. Federal prosecutors stated that Raymond John Pirrello Jr., Joseph Passalaqua, and Robert Cassino concealed markups and fees from investors. The three are awaiting sentencing, facing up to 20 to 45 years in prison. Lawyers noted that unlisted share issues are not part of their case. Lawyers for other executives did not immediately respond to requests for comment. SPVs linked to other potential blockbuster IPOs have also drawn attention. Anthropic, an AI firm expected to launch its IPO this fall, recently upset investors holding SPVs related to its stock. In May, the AI company updated a notice on its website stating it would not recognize sales of Anthropic shares without board approval, naming several online platforms that resold interests directly or indirectly via SPVs. At least two brokerages are still sending emails and text messages to potential investors, offering opportunities to acquire Anthropic stock through SPVs.

According to an official announcement, Binance will launch the following perpetual contracts at the times below: KOUSDT Perpetual Contract at 17:00 (GMT+8) on August 6, 2026; RDDTUSDT Perpetual Contract at 17:05 (GMT+8) on August 6, 2026.

According to monitoring by ai_9684xtpa, whale address 0x8c5...A04b1, which conducted an over-the-counter (OTC) trade of 27,000 ETH on July 23, received an additional 10,000 ETH from Galaxy Digital in the past five hours, valued at $19.1 million. Since July 23, the address has accumulated a total of 37,000 ETH, with a total value of approximately $71.13 million, an average entry price of $1,922.5, and currently holds an unrealized loss of $908,000.

Goldman Sachs has not shifted its stance on Korea’s AI chain amid the recent sharp sell-off. In its latest view, the sell-off of Korea’s AI-related stocks has gone too far. The bank continues to maintain an overweight position on the Korean stock market, and regards the memory cycle as the core support for this rally. Goldman Sachs notes that this round of decline largely reflects position and leverage unwinding, with fundamental logic remaining intact. The bank’s core rationale remains the sustained demand pull from AI computing power for DRAM, HBM, and NAND. Goldman Sachs argues that AI servers, cloud providers’ capital expenditure, and demand for high-bandwidth memory are creating longer-term supply-demand tightness, and the market has not fully priced in the scenario where memory chip shortages could persist until 2030. Because memory manufacturers have high operating leverage, their earnings elasticity will expand rapidly once prices stay strong. This explains why Goldman Sachs remains bullish on the Korean market after the sharp sell-off. Samsung Electronics and SK Hynix together account for roughly half of the KOSPI’s weight, meaning the Korean stock market has essentially become a high-beta expression of the global AI hardware cycle. For U.S. stock investors, this logic also spills over to Micron, SanDisk, Western Digital, and the semiconductor equipment chain. AI stocks have seen heightened volatility recently, but as long as cloud providers’ capital expenditure does not slow significantly, memory remains the most directly benefiting segment of AI infrastructure.

According to Reuters, citing a senior Iranian source and two regional officials, a proposed Iran-Oman deal would grant Iran control over vessels entering the Gulf via the Strait of Hormuz, one of the most significant concessions Iran has secured to date. Iran later stated that all vessels entering and exiting the Gulf would pass through Iranian waters. Regional sources noted that details remain to be finalized regarding how "control" would be defined. Iranian sources said the draft deal currently on the table envisions Iran controlling vessels transiting the strait into the Gulf, with one key point of contention being what role Iran would play for vessels heading in the opposite direction. Iran's deputy foreign minister later said: "The route is designed such that commercial vessels' inbound and outbound paths will pass through Iranian territorial waters." Senior Iranian officials revealed that Iran is seeking to charge vessels using the strait a fee equivalent to 5% to 7% of the cargo value, while Oman is discussing a lower rate of around 3%, and Washington wants no fees at all. Making the fee nominally voluntary could be a way to break the impasse, but shipping companies may have to pay to transit amid the threat of potential Iranian attacks.

Whales are accumulating $BTC! Four newly created wallets have received 1,540 $BTC($99.4M) from #GalaxyDigital and #BitGo in the past 3 hours.