US Stock Futures Dive Further

Arthur Hayes (@CryptoHayes) bought another 6M $ENA($525K) at an average price of $0.09.

Morgan Stanley released a report noting that June HDD/SSD data continues to reflect strong demand from data centers. TSR projects that the shipment capacity of enterprise-grade SSDs for data centers will reach 525 exabytes (EB) in 2026, a year-on-year surge of 100%; the shipment capacity of nearline HDDs for data centers will hit 1845 EB, up 30.4% year-on-year. The report shows that in June, data center enterprise-grade SSD shipment capacity stood at 46.33 EB, rising 124.5% year-on-year and 12.0% month-on-month. In the same period, enterprise-grade SSD shipments totaled 6.35 million units, up 41.1% year-on-year and 8.9% month-on-month. Morgan Stanley argues that as the share of high-capacity products rises, SSD shipment capacity growth will continue to outpace unit shipment growth. For HDDs, June nearline HDD production reached 7.03 million units, up 12.3% year-on-year and down slightly 0.6% month-on-month. TSR forecasts nearline HDD production will hit 8.439 million units in 2026, a year-on-year increase of 12.8%. However, the report warns that future production expansion of nearline HDDs may be constrained by read/write head and testing capacity. Overall, AI and data center capital expenditure remain key drivers of storage capacity demand, though supply chain bottlenecks are spreading from end devices to key components.

According to Bloomberg, South Korea's KOSPI has emerged as the world's most volatile national stock index, even outstripping Bitcoin in volatility. The index's year-to-date return volatility has surged to 63%, topping the list among major national stock indices and exceeding Bitcoin's 48%.

According to Lookonchain's monitoring, Arthur Hayes purchased 6 million ENA tokens at an average price of $0.09, with a total value of approximately $525,000.

China's A-share three major stock indexes closed lower today, fluctuating at low levels throughout the session. By the close, the Shanghai Composite Index fell 0.59%, the Shenzhen Component Index dropped 0.96%, and the ChiNext Index declined 1.24%. Semiconductor and memory chip concept stocks saw sharp pullbacks.

According to South Korea’s JoongAng Ilbo, Kim Yong-beom, head of the Policy Office at the South Korean President’s Office, has been accused of abuse of power, coercion, and obstruction of business over allegations he pushed for the listing of leveraged ETFs tied to individual semiconductor stocks. A formal criminal complaint has been filed against him. These single-stock leveraged ETFs are blamed for exacerbating market volatility and causing investors billions of dollars in losses. Lee Jong-bae, a conservative former Seoul City lawmaker backed by the main opposition People Power Party, said he submitted a criminal lawsuit against Kim to the Supreme Prosecutors’ Office on Monday via the government’s online petition system. Lee claimed Kim effectively instructed financial regulators to consider launching leveraged ETF products linked to individual chip stocks. Lee also alleged that South Korea’s Financial Services Commission (FSC) has been internally reviewing a plan since January: to establish the necessary regulatory framework and systems in the second quarter, then roll out these products in the second half of the year. Lee stated: “Without Kim’s instruction, financial regulators would not have rushed to launch leveraged ETFs tied to individual semiconductor stocks amid the election season, despite severe warnings about market risks.”