CBS: U.S. Treasury Secretary and Trump Once Had Heated Debate on Tariff Policy

Kenya's government is investigating the hacking incident targeting President William Ruto's official website. On July 18, attackers briefly altered the president's official site page and demanded a ransom of 5 BTC, threatening to leak undisclosed data if not paid. Kenya's Cabinet Secretary for Information, Communication and Digital Economy stated that the government has activated its cybersecurity response mechanism and is conducting a forensic investigation in collaboration with relevant agencies. There is currently no evidence indicating unauthorized access to or leakage of sensitive data, and government digital services remain operational.

Bitcoin mining company LM Funding America (NASDAQ: LMFA) announced it will rebrand to PowerCompute Inc. and adopt a new stock ticker "PWCM" effective July 22. The company stated that the rename marks its strategic transformation, as it leverages its existing 26 megawatts (MW) of owned power infrastructure to expand into high-performance computing (HPC) and artificial intelligence (AI) infrastructure businesses. Currently, the firm operates two facilities in Oklahoma and Mississippi, U.S., with 26 MW of power capacity, and plans to provide infrastructure services to AI computing clients. It will also continue holding Bitcoin assets as part of its balance sheet.

U.S. Strategic Petroleum Reserve (SPR) crude oil inventories fell by approximately 5.1 million barrels last week, dropping to 311.4 million barrels, the lowest level since 1983.

Morgan Stanley analyst Joseph Moore noted that following discussions with multiple data center procurement personnel last week, the current tight memory supply shows no signs of easing. DRAM and other memory products are expected to rise by at least 25% on a comparable basis from the second quarter to the third quarter, a figure higher than previous forecasts from Morgan Stanley and third-party institutions. Moore added that the memory shortage could further deteriorate in 2027 and 2028, as AI demand is consuming massive DRAM capacity, squeezing supplies for other sectors such as PCs and smartphones. Morgan Stanley further holds that the current market is not only grappling with surging memory demand driven by AI, but insufficient memory supply itself is emerging as a key bottleneck limiting AI expansion.

U.S. Central Command said that as of July 20, U.S. military forces have forced seven commercial vessels to alter their routes and disabled one merchant ship to prevent vessels from entering or leaving Iranian ports. (Jinshi)

U.S. Securities and Exchange Commission (SEC) announced it has filed a lawsuit against Florida resident Zan Shaikh and his firm Mining Automatic, accusing them of raising roughly $22 million from more than 380 investors via a fraudulent cryptocurrency mining investment scheme and misappropriating investor funds. The SEC noted that between June 2023 and May 2025, the defendants promised investors guaranteed monthly returns from crypto mining, but in practice only deployed about 13% of the raised capital to the purported mining operations, with the remainder largely used for marketing, attracting new investors, and covering personal and other unrelated business costs. The SEC added that the total funds raised by the defendants are at least $20 million higher than the amount returned to investors. The SEC has charged them with violating anti-fraud and securities issuance provisions under the U.S. Securities Act of 1933 and the Securities Exchange Act of 1934. Both parties have agreed to accept a permanent injunction once court-approved; the court will determine the amount of subsequent illegal proceeds to be repaid, interest, and civil penalties.