Whale Who Previously Shorted 16 Altcoins to Net $3.5 Million Suspected of Selling $13.69 Million Worth of ETH Again
On-chain analyst Ai Yi (@ai_9684xtpa) has detected that the Hyperliquid whale—who previously shorted 16 altcoins to pocket $3.5 million—is suspected of continuing to offload Ethereum (ETH). The address 0x410…75d08 withdrew 7,863 ETH from Spark an hour ago, worth roughly $13.69 million, then deposited all of it into Binance, likely for selling. A week prior, the same address transferred 6,860 ETH, valued at approximately $10.8 million, to a trading platform.
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BitMine is suspected of having once again increased its holdings of 20,500 ETH, valued at $35.92 million.
According to Lookonchain's monitoring, BitMine purchased another 20,500 ETH from Galaxy Digital six hours ago, valued at $35.92 million.
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SK Hynix completes its U.S. ADR offering, raising $26.5 billion, setting a new record for a foreign company's IPO in the U.S.
South Korean semiconductor firm SK Hynix has completed its US depositary receipt (ADR) offering, raising $26.5 billion, setting a new record for the largest initial public offering (IPO) by a foreign company in the US and becoming the third-largest listing in global securities history.
SK Hynix issued a total of 177.9 million ADRs, priced at $149 each, with each ADR equivalent to one-tenth of its common shares traded on South Korea’s domestic stock market. The final offering price was approximately 3% higher than the closing price of its home-listed shares.
Per the transaction terms, SK Hynix ADRs will launch pre-market trading on the Nasdaq Global Select Market on Friday under the temporary ticker symbol "SKHYV", and are scheduled to switch to the official ticker "SKHY" for regular trading starting July 13.
The offering is led by Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase, with 9 additional firms participating. Market feedback shows the offering received over 7 times oversubscription, with total subscription interest approaching $200 billion. Asset management firms including Baillie Gifford, Coatue Management, and Situational Awareness Partners took part in the subscription, with the top ten orders absorbing nearly half of the total shares.
SK Hynix aims to list on the US stock market to narrow the valuation gap with US peers such as Micron Technology, and leverage overseas capital premiums to boost its corporate value. As a core supplier of high-bandwidth memory (HBM) for NVIDIA, SK Hynix already holds a significant market share in this segment.
Meanwhile, US Secretary of Commerce Howard Lutnick stated he is in talks with Samsung Electronics and SK Hynix, urging the two South Korean memory chip manufacturers to expand production in the US to enhance the resilience of America’s domestic chip supply chain.
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The Federal Reserve has set up five external working groups to conduct a comprehensive review of its monetary policy operating mechanisms.
Federal Reserve Chair Kevin Warsh has formed five working groups to conduct a comprehensive review of the Federal Reserve’s monetary policy operational framework, covering areas including balance sheet management, policy tools, and the impact of artificial intelligence. The Fed stated that each working group will operate independently, conduct fact-based research, and submit rigorous analysis findings to the Federal Open Market Committee (FOMC). The groups will assess whether there is room for improvement in policy tools, analytical methods, and policy frameworks. Members of the review team include several prominent economists and former central bank officials. Among them, Harvard University economist Raj Chetty will co-lead the data working group, tech investor Marc Andreessen will head the productivity and employment working group, and former Chair of the White House Council of Economic Advisers Greg Mankiw will co-lead the inflation working group. Warsh noted that the U.S. economy has undergone massive changes over the past generation, with an even faster pace of transformation currently. The Federal Reserve needs to ensure it is operating at its optimal state to achieve its dual mandates of price stability and maximum employment. (Jinshi)
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