Reuters: Yangtze Memory Technologies is expected to raise 33 billion yuan in its IPO, with 1.98 billion to 2.43 billion new shares to be issued.

Robinhood CEO Vlad Tenev stated in an interview with the podcast "The Iced Coffee Hour" that he uses Robinhood for personal trading, has traded cryptocurrencies for a period of time, is personally fond of crypto, and enjoys working alongside the community. He also shared his views on Bitcoin, noting that his investment portfolio is quite diversified, he holds a long-term optimistic outlook on Bitcoin, but will not make predictions such as Bitcoin’s price hitting $1 million in the future.

South Korea's top financial regulator has said it will accelerate discussions on cryptocurrency legislation and plans to roll out the country's version of the Digital Asset Basic Act this fall. According to reports, the bill is expected to establish regulatory rules covering areas including stablecoin issuance, virtual asset service provider (VASP) licensing, and Bitcoin ETFs.

Yi Lihua, founder of Liquid Capital (formerly LD Capital), shared in a post that his market views over the past six months are as follows: he expected a rebound from the previous low, judged the rebound would end at the May peak, and repeatedly flagged July-August as the final bottom-buying opportunity over the past two months. He noted this does not mean he is always correct—every investment and trade is a new start, so one must stay cautious, humble, and maintain sound risk control strategies. Posting on the X platform is a great way to learn and self-iterate; whether right or wrong, such outcomes are entirely normal.

According to the latest Hong Kong Stock Exchange (HKEX) filings, after Alibaba announced an HK$80 billion new share placement plan, group chairman Joseph Tsai and CEO Daniel Yongming Wu purchased a total of approximately HK$120 million worth of Alibaba shares, signaling their confidence in the company’s AI strategy. Details show Tsai bought 720,000 Alibaba Hong Kong-listed shares at an average price of around HK$112, spending roughly HK$80 million; CEO Wu acquired 350,000 Alibaba Hong Kong shares at an average price of about HK$111.6, costing approximately HK$40 million. The two combined to add 1.07 million shares to their holdings, totaling around HK$120 million. The day prior, Alibaba unveiled the HK$80 billion new share placement, with all proceeds earmarked for investments in full-stack AI capabilities and AI infrastructure construction. The placement was actively subscribed by long-term investors including global sovereign wealth funds, resulting in nearly 3 times oversubscription, reports said. Market observers noted that management’s personal share purchases on the day following the placement announcement reflect strong confidence in the company’s AI strategy.

Fidelity International portfolio manager George Efstathopoulos said the gold holdings of the fund he manages have doubled over the past three weeks, with increased uncertainty over Federal Reserve policy acting as the catalyst. After lifting the fund’s gold allocation to his self-set cap of 5%, Efstathopoulos noted he would consider raising this cap if the U.S. dollar’s status as a safe-haven asset continues to weaken. He began boosting gold holdings amid a sell-off in long-term U.S. Treasuries following the Fed’s July meeting. “My take is this stems from the Fed’s lack of credibility and heightened policy uncertainty,” Efstathopoulos said. He also added that the U.S. Treasury’s unexpected expansion of long-term bond buybacks appears more like “manipulating yields rather than addressing the root causes of why yields are rising.” “The focus for gold now is no longer the rise in yields themselves, but why yields are rising.”

Recent reports indicate that some banks in Hong Kong have initiated a capital source declaration process for existing mainland Chinese investment clients, setting deadlines including August 20 (failure to submit may lead to suspension of investment services) and September 12 (failure to submit may result in termination of investment services). According to multiple sources familiar with the matter, some licensed Hong Kong institutions—including HSBC Hong Kong and Hong Kong branches of Chinese state-owned banks—have indeed taken such steps recently, targeting mainly long-term inactive accounts. An HSBC spokesperson stated: "When managing investment client relationships, we comply with relevant regulatory requirements. Therefore, we invite relevant mainland Chinese investors to provide self-declarations and confirm that the information they submitted in the Know Your Customer (KYC) and Customer Due Diligence processes is up-to-date and valid. This move helps us continue providing uninterrupted services to clients. The latest declaration requirement applies only to our investment service clients." It is understood that these measures by Hong Kong banks are based on a circular issued by the Hong Kong Monetary Authority (HKMA) on May 22 (synchronized with a circular from the Hong Kong Securities and Futures Commission), rather than any new policy or regulatory guidance. (Yicai)