Scott Bessent’s intervention in the US Treasury market runs counter to the Federal Reserve’s anti-inflation stance, increasing pressure on Kevin Warsh’s speech.

Samsung Electronics and SK Hynix plan to increase their supply of NVIDIA’s 8-layer HBM4 memory in the second half of this year. The move is primarily driven by NVIDIA’s supply strategy, aimed at ensuring stable supply of all types of HBM memory while also managing product heat generation. It is understood that the 8-layer memory is highly likely to become the flagship product of the next-generation HBM4E.

According to Lookonchain’s monitoring, stablecoin issuer Circle minted an additional 5 billion USDC over the past week.

Beating AI Express: OpenAI has added a practical new feature to ChatGPT Work that enables it to log into websites and access user accounts to complete tasks. Previously, ChatGPT Work would stop when encountering a login page; now, it hands over the login interface to users, who can input their username, password, and verification code directly. After login is completed, ChatGPT Work resumes its operations. OpenAI clarified that ChatGPT cannot view users' passwords and will not store them. This update significantly expands the scope of tasks ChatGPT Work can handle: from checking insurance reimbursements, scheduling DMV appointments, house hunting, returns, submitting invoices, to managing small business backends. Any task that normally requires opening a browser and manually navigating through steps can now be tried with ChatGPT Work. The feature is currently rolling out to Plus, Pro, and Business users.

Blockchain analytics firm Chainalysis announced that its Operation Lighthouse investigation has probed 29,120 crypto addresses and digital identity identifiers, generating 14,300 investigation leads. The operation targets cryptocurrency activities linked to child sexual abuse material (CSAM), spanning over 100 clearnet and darknet platforms, forums, and distribution networks. Chainalysis added that the initiative also uncovered more than 7,700 suspicious accounts and identified relevant suspects across 125 countries. Organized by the U.S. National Cyber Forensics and Training Alliance (NCFTA), the effort involved multiple law enforcement agencies, crypto industry firms, and non-profit organizations.

ECB Executive Board member Isabel Schnabel stated that prolonged Middle East conflicts, combined with the unexpectedly strong performance of the euro area economy, pose upside risks to inflation, necessitating further interest rate hikes. Consumer price increases could exceed 2% for an extended period, and policymakers would fall behind the curve if they wait to act until these impacts feed through to wages. “At current interest rates, inflation is unlikely to return to the target level in the medium term, so further policy tightening is necessary. Especially amid the current environment of resilient aggregate demand, it is critical to nip second-round effects in the bud early, as delaying action could require more aggressive tightening measures,” she said. She noted that fiscal policy, rising defense spending, and the global AI boom are the key drivers of the economy’s strong performance. Schnabel warned that energy price pressures excluding oil are becoming more persistent. Given Europe’s low natural gas inventories, developments in the gas market are particularly worrying, “which poses substantial upside risks to inflation. The longer the conflict persists, the higher and more intense the risks of indirect and second-round effects will be.” (Jinshi)

According to monitoring by Onchain Lens, Wintermute has cut its short exposure on Hyperliquid from $211.5 million to $80.48 million. It currently holds $80.48 million in short positions and $5.51 million in long positions. Its HYPE short position, meanwhile, increased from $5.6 million to $10.2 million, resulting in an unrealized loss of $568,800.