US Stock Futures Dive Further

Prediction market Kalshi has disclosed to the SEC that it plans to raise $1.5 billion via private equity financing. As of now, the platform has actually raised around $1.12 billion, with approximately $380 million remaining unsold.

According to EmberCN’s monitoring, the address of Garrett Jin, agent of the “BTC OG Insider Whale”, added 600 BTC long positions at $79,000 in the early hours, worth $47.4 million. He has held BTC long positions for three months, hitting a peak unrealized loss of $23 million in early July. Currently, he holds 1,868 BTC long positions (valued at $147 million) at an average price of $77,090, with an unrealized profit of $2.78 million. Separately, he opened short positions on 32,700 ZEC at an average price of $444 (valued at $25.28 million), now facing an unrealized loss of as much as $10.74 million.

According to HTX market data, the crypto market has seen a minor downturn. Bitcoin briefly dipped below $78,000 this morning, and is now trading at $78,500. Ethereum stands at $2,443. SOL is priced at $96, after a pullback of over 3% following its break above $100. BNB fell below $700, now at $693. ZEC is at $774, having dropped below the $800 mark, with a nearly 7% decline over the past 24 hours. The total cryptocurrency market capitalization is down 0.4% in 24 hours, reaching $2.739 trillion. Leading altcoin movers: Gainers include BMT, which surged 54% in 24 hours to $0.023; ONG rose 17% to $0.1; PROM gained 14.6% to $4.12; FF, STX, TLM and others climbed over 10%. Losers: PEOPLE, STORJ, MUBARAK and others fell nearly 20% in 24 hours; PORTAL, JTO, ETHFI, DASH, MET and others dropped nearly 10%.

Coinbase’s Chief Policy Officer Faryar Shirzad said the cryptocurrency exchange has submitted a response to the joint request for comments issued by the U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) regarding the definition of perpetual contract products and their compliance framework. The response puts forward three proposals: establishing a flexible compliance framework to boost customer choice, competition and innovation; categorizing equity perpetual derivatives under securities and futures regulation; and allowing trading platforms regulated by either agency to list event contracts related to securities. Coinbase noted that perpetual derivatives and prediction markets provide investors with new tools for investment and risk management, but the complex jurisdictional boundaries between the U.S. CFTC and SEC impose inconsistent requirements on economically related products, hindering market participants’ ability to offer and integrate products via a single U.S.-regulated tech stack.

According to South Korea’s Chosun Ilbo, South Korea’s DRAM export prices continue to surge, as AI-driven HBM production squeezes supplies of standard memory. Data shows that from the 1st to the 20th of this month, South Korea’s DRAM export unit price reached $92,183 per kilogram, up 401% year-on-year, and roughly 12.5 times higher than the low point in January 2023. Goldman Sachs forecasts that the DRAM supply gap will widen from 5.0% this year to 5.9% next year, noting that HBM for AI servers and high-capacity server DRAM are absorbing limited production capacity, further tightening supplies of standard DRAM, with shortages potentially lasting until 2028. TrendForce projects that by the end of next year, the wafer input for HBM production by Samsung, SK Hynix, and Micron will account for 30% of total DRAM wafer input, though HBM will only make up around 13% of actual DRAM bit supply. Memory manufacturers warn that tight DRAM and NAND supplies driven by AI demand could persist beyond 2027. SK Hynix stated that from the supply side, 2027 could become “the most severe shortage year in the memory industry’s history.”

According to Bitget market data, South Korea’s KOSPI index opened 0.53% higher. Samsung Electronics rose 1.36%, and SK Hynix gained 1.32%. Japan’s Nikkei 225 index opened down 342.29 points, a 0.52% decline.