June 22: JPMorgan lifts Tesla’s (TSLA.O) price target to $375 from the prior $350.

On June 22nd, according to Bitget market data, SK Hynix’s market capitalization briefly exceeded Samsung Electronics’ during intraday trading, making it the highest-valued company in South Korea.

On June 22, Bloomberg reported that Kang Young-sun, head of South Korea’s President’s Policy Office, said policymakers need to watch how the wealth generated by South Korea’s chip-driven economic boom will trickle down to the broader economy. He warned that historical data shows excess liquidity often flows straight into the real estate market. Kang noted the global AI boom has spurred a massive jump in South Korea’s semiconductor industry profits, pushing the country’s nominal economic growth to its fastest pace in more than 20 years. While overall economic figures show an unusually strong growth trend, many ordinary households and small businesses haven’t actually benefited from this upswing. The policy official stressed South Korea’s current economy has a clear structural divide: on one hand, AI and chip sectors are raking in huge profits; on the other, regular residents and small businesses in the wider real economy still haven’t seen meaningful improvements in their financial we

June 22 (Bloomberg) — CSOP Asset Management Ltd. will raise the options investment limit for its $14.4 billion leveraged ETF tied to South Korean chipmaker SK Hynix. The move comes after a sharp rally in SK Hynix’s stock, which will grant the fund’s managers increased operational flexibility. In a Sunday statement, CSOP announced the adjustment, effective Tuesday: the fund may now allocate up to 49% of its net asset value (NAV) to options, up from the prior cap of 40%. This 40% limit was itself an increase from the 25% level set back in May of this year. SK Hynix’s shares have been surging amid robust demand for its High Bandwidth Memory (HBM) chips, driven by the global AI boom. This rally has attracted large inflows into the 2x leveraged ETF. To maintain the product’s leverage target and accommodate the fund’s rapid growth, CSOP has been gradually loosening limits on its use of options and other derivatives. Click the original link below to join the BlockBeats Beating | Feishu AI

June 22 — According to a report from CCTV Finance, the 4th Chain Expo opened in Beijing Wednesday, with NVIDIA CEO Jensen Huang delivering a video keynote address for the event. Huang stated in his remarks: “The Chain Expo focuses on one of the world’s most critical systems: the global supply chain. This network links energy sources, manufacturing facilities, logistics providers, businesses, and customers, effectively connecting the entire world. China is one of the world’s key technology and industrial hubs, where engineers demonstrate exceptional expertise, developers act swiftly to deliver results, and companies achieve remarkable growth on an unprecedented scale.”

On June 22, Ethereum co-founder Joseph Lubin took to social media to share that a truly trustless, neutral global coordination platform and digital asset settlement system would be a major breakthrough for the world. He emphasized that Ethereum’s large-scale, robust decentralization is exactly what’s making this vision possible. Looking ahead, more trustworthy, well-funded organizations will partner with the Ethereum Foundation to advance this mission. These groups will focus on growing the broader Ethereum ecosystem and driving progress in key areas of interest for financial institutions adopting Ethereum technology: Ethereum Mainnet, Layer 2 (L2) networks, and Private Ethereum networks. Down the line, these three pillars will achieve near real-time interoperability and composability, allowing ETH to flow freely across the expanded Ethereum ecosystem.