pact

According to Jinshi reports, Samsung Electronics stated that the depreciation of the Korean won had a positive impact of 3.1 trillion won in the second quarter.

According to Jinshi reports, DHF Capital S.A. economist Bas Kooijman stated in a report that the trend of oil prices has become a key driving factor for U.S. Treasury yields and market expectations for the Federal Reserve's interest rate path. The outlook may change with the evolution of the situation in the Middle East and oil prices.A further sustained decline in oil prices may intensify the pressure of slowing inflation and suppress expectations for monetary policy tightening, while a renewed escalation of the situation may reignite inflation concerns and push up U.S. Treasury yields.

Bitwise Chief Investment Officer Matt Hougan posted that the impact of interest rate decisions on Bitcoin over the next five years will be less than it has been over the past fifteen years. He stated that since Bitcoin's inception, interest rates have fluctuated significantly between 0% to 2.5%, 0% to 5%, and 3.5%, with changes measured in whole percentage points. However, future adjustments may be more moderate, with CME expecting interest rates to rise by only 50 basis points over the next year.Matt Hougan assesses that the Federal Reserve under Warsh may be closer to the slight adjustment style of the mid-1990s under Greenspan, rather than the patterns seen in recent years under Bernanke and Powell. If this is indeed the case, the smaller magnitude of interest rate changes will also weaken their impact on Bitcoin; while interest rates remain important, the weight of other factors will increase.

Solana Optimistic Network (SOON) announced that the security incident discovered on July 12 has been investigated and resolved. The incident did not involve vulnerabilities in the SOON protocol, sequencer, or user-facing smart contracts, and no user funds were lost. SOON stated that this incident originated from security issues in the off-chain operational environment.According to an investigation by the third-party security company BlockSec, external attackers gained unauthorized access through misconfigured services and further entered part of the internal environment due to insufficient access controls. The impact of the incident was limited to certain operational infrastructure and related processes, and did not involve on-chain user assets, user smart contracts, or SOON network security. After the incident, SOON suspended the sequencer and some services, and initiated a comprehensive security review. During this period, functions such as NFT minting, token claiming, and on-chain withdrawals were temporarily shut down. Currently, SOON has restored NFT minting and token claiming functions, and has resumed mainnet RPC services and block production. The network is now operating normally.

Wall Street investment bank TD Cowen has lowered the target price for Bitcoin treasury company Nakamoto Inc. (NASDAQ: NAKA), reducing the split-adjusted target price from $40 to $17, a decrease of 58%, but still maintaining a "Buy" rating. TD Cowen analysts stated that this adjustment is mainly due to the pressure on Nakamoto's highly leveraged capital structure from the decline in Bitcoin prices.Although the new target price still implies about a 275% upside from the current stock price of $4.65, the company's stock is highly sensitive to fluctuations in Bitcoin prices. TD Cowen expects Bitcoin to rebound to $100,000 by the end of 2026, which is about 25% lower than the historical high of $126,000 set last October. At the same time, the firm anticipates that Nakamoto will suspend further Bitcoin purchases before 2027.Analysts pointed out that Nakamoto's core value still comes from its Bitcoin assets, with the company currently holding 4,467 BTC, valued at approximately $290 million, ranking 22nd among publicly listed companies in terms of Bitcoin holdings. However, the company's debt and preferred stock financing structure have also compressed the asset value available to common stockholders. Recently, Nakamoto has completed several financial adjustments, including repaying approximately $45 million in debt, extending the principal of $105 million to June 2027, reducing financing costs, and approving a $25 million stock buyback plan. Additionally, the company has closed its previously operated medical clinic business and will focus on Bitcoin media, asset management, and consulting services in the future. Data shows that NAKA's stock price has fallen over 71% this year, while Bitcoin has declined about 26% during the same period. Market attention is shifting from "continuously purchasing BTC" to the asset-liability structure and financing capabilities of Bitcoin treasury companies.

Mizuho analysts stated that if the Clarity Act, a U.S. cryptocurrency market structure bill, is passed, it may generally benefit the digital asset industry, but the long-term impact on Circle could be negative. The reasoning is that regulatory clarity will attract more large institutions into the stablecoin market, further accelerating the commodification of stablecoins and eroding the revenue space of Circle's USDC.Mizuho believes that the main pressure Circle is currently facing comes from Open USD. This stablecoin project is supported by an alliance of over 140 financial, technology, and cryptocurrency companies, including Visa, Mastercard, Stripe, BlackRock, and Coinbase. Unlike Circle's model, which retains about 38% of USDC reserve earnings, Open USD adopts a "pass-through" model, distributing nearly all reserve earnings to distributors while retaining only a small management fee. Analysts also pointed out that Coinbase, as the largest distributor of USDC, also supports Open USD, which may give it stronger bargaining power when renegotiating revenue-sharing agreements with Circle in the future. The distribution agreement between the two parties may be renegotiated as early as next month.

NVIDIA CEO Jensen Huang stated in an exclusive interview with Axios on Tuesday that American companies "absolutely" should be allowed to use Chinese open-source AI models, directly challenging the Trump administration and some American AI labs' blockade policies.Huang believes that the market's panic over Kimi K3 is a misreading, similar to the sell-off triggered by DeepSeek in early 2025: cheaper open-source models will expand the AI audience and increase, rather than decrease, the demand for chips, data centers, and computing power. "Free AI is good for hardware, good for chips, good for data centers." He also refuted the notion that open-source models pose security risks, claiming that open-source is actually safer because external researchers can examine the models, expose vulnerabilities, and build defenses, while calling for Anthropic to open its Claude Mythos model to "everyone."Huang rejected the narrative that "China will defeat American companies," arguing that the AI race has no finish line and that China and the U.S. will coexist in the long term. Hours after the interview, U.S. Treasury Secretary Bessent stated that the government is reviewing whether Chinese AI models are stealing intellectual property and considering sanctions. Huang responded that knowledge distillation is the foundation of intelligence and that accountability should be directed at violations rather than the models themselves.

According to the official announcement, Huobi HTX will hold a themed live broadcast today at 20:00 titled "Ceasefire Ended, Oil Prices Soaring Above 75, STRATEGY's First Loss in Selling Coins: Can BTC's Macroeconomic Narrative Hold Up?" At that time, crypto KOLs such as Huabai Blockchain, Honest Little Taoist, Crypto.0824, and OxPink will gather in the live broadcast room to engage in in-depth discussions on recent market hotspots such as the repeated situation in the Middle East and the strong upward trend of international oil prices. They will also analyze BTC's future trends and opportunities and risk management strategies for crypto asset allocation in conjunction with expectations of Federal Reserve policies, providing investors with multi-dimensional market observations and trading ideas.

According to Cryptonomist, banking groups such as the American Bankers Association and the Independent Community Bankers of America are urging the Senate to further tighten the provisions related to stablecoin yields in the CLARITY Act. Previously, the Senate Banking Committee passed the bill on May 14, 2026, with a vote of 15 to 9, incorporating some amendments pushed by Senators Thom Tillis and Angela Alsobrooks. However, the banking sector believes that the existing text still does not completely close the incentive space for "class yields" related to stablecoins.The Independent Community Bankers of America previously estimated that if the bill does not further strengthen yield restrictions, stablecoins could lead to a loss of approximately $1.3 trillion in deposits from the banking system and reduce the lending capacity of community banks by about $850 billion, thereby affecting credit access for small businesses, agriculture, and families in underdeveloped areas.

According to official news, Tether announced it will lead a $7 million Series A financing for Pact Labs, with Blockchange Ventures and Lasagna participating in the follow-on investment. The funds will be used to support Pact Labs in building infrastructure related to USA₮ and expanding its applications in payroll, earned wage access, credit, and daily payments.Pact Labs primarily provides digital wallet embedding, real-time payroll transfers, and financial service capabilities for enterprise platforms, aiming to improve the low processing efficiency and long settlement periods of the traditional U.S. payroll system. Tether stated that this collaboration aims to promote deeper integration of the digital dollar USA₮ designed for U.S. compliance standards into the daily financial systems of local workers and businesses.

According to data from DefiLlama, possibly influenced by the increase in trading volume of its US stock tokens (rToken), Bitget has seen a net inflow of $666 million in the past 30 days, ranking first among centralized exchanges (CEX).

According to Cointelegraph, the Federal Reserve Board (Fed) announced that a16z co-founder Marc Andreessen will join the "Productivity and Employment" working group led by Federal Reserve Chairman Kevin Warsh, responsible for studying the impact of artificial intelligence and emerging technologies on economic growth, the job market, and production efficiency.The working group also includes Stanford University economics professor Charles I. Jones (currently on leave at Anthropic) and Microsoft Executive Vice President and Xbox head Asha Sharma.

According to a recent article by npm co-founder Laurie Voss, research from Stanford University's Digital Economy Lab based on ADP payroll data shows that since the end of 2022, the number of employed junior software developers aged 22 to 25 has decreased by 19%, and entry-level software development positions have dropped by 28% from their peak, with the unemployment rate for computer science graduates rising to 6.1%. However, the total number of developers employed in the U.S. has still grown by 4.4% during the same period, with the employment of senior developers aged 41 to 49 increasing by 14%. Data from the U.S. Bureau of Labor Statistics (BLS) further indicates that over the past year, the number of "computer programmer" positions primarily responsible for writing code on demand has decreased by 16%, while positions for data scientists and core software developers that require more architectural judgment have increased by 12% and 2%, respectively.At the same time, the proliferation of AI tools has led to an explosion in software creation. GitHub added a record 36 million accounts and 121 million code repositories last year, and the number of app submissions to the Apple App Store surged by 80% year-on-year in the first quarter of 2026. Data from platforms like Vercel and Lovable indicates that over 60% of new users are "non-traditional developers" such as product managers and analysts. Industry analysts warn that as AI replaces basic coding tasks, the traditional "junior to senior" engineer apprenticeship promotion path has been disrupted, raising concerns about the safety of AI-generated code and challenging the future sources of senior developers. However, the latest hiring data from platforms like Indeed shows that the demand for related entry-level positions hit bottom in May 2025 and has begun to show signs of rebound.

According to Jinshi reports, Mohit Kumar of Jefferies Group stated in a report that despite the decline in oil prices, the interest rate market has not quickly incorporated the expectations of falling oil prices into pricing. He pointed out that as the market focuses on the increase in traffic through the Strait of Hormuz, the drop in oil prices has exceeded expectations. Jefferies believes that one of the main impacts of the US-Iran agreement is that major global central banks no longer need to raise interest rates, maintaining the view that the Federal Reserve will not raise interest rates this year, and that the Fed's next move will be to cut rates rather than raise them.

According to the National Daily, the Bank of Korea (central bank) warned in its "Financial Stability Report for the First Half of 2026" that as the correlation between the cryptocurrency market and traditional markets increases, the impact of the crypto market may spill over into traditional stock and foreign exchange markets. The central bank's analysis pointed out that due to a more diversified investor base and the evolving market structure, the likelihood of the crypto market transmitting risks to the traditional financial sector is rising.

According to the National Daily, the Bank of Korea (central bank) warned in the "Financial Stability Report for the First Half of 2026" that as the correlation between the cryptocurrency market and traditional markets increases, the impact of the crypto market may spill over into traditional stock and foreign exchange markets. The central bank's analysis points out that due to a more diversified investor base and the evolving market structure, the likelihood of the crypto market transmitting risks to the traditional financial sector is rising.The report notes that since South Korea has not yet approved spot and futures cryptocurrency ETFs, and corporate participation is limited, the direct impact on the domestic financial market is currently still limited. However, the central bank also warned that if the scope of institutional and corporate participation expands in the future, significant price shocks in crypto assets could spread to the domestic stock and foreign exchange markets.

According to a report by The Paper, Wang Xin, the Director of the Research Bureau (Advisory Office) of the People's Bank of China, discussed the cross-border payment system at the "Lujiazui Forum 2026 Plenary Session II: Global Financial Governance Reform and Cooperation." He stated that the next step is to further ensure the security, neutrality, and efficiency of the international payment system, strengthen the interconnection of payment systems between central banks, as well as retail payment systems. It is essential to prudently and steadily explore the potential of new payment tools, closely monitor the impact of stablecoins on the international monetary system and cross-border payments, improve regulatory rules, and promote a more inclusive, efficient, and resilient international payment system to better support sustainable development and the growth of the world economy.

According to CoinDesk, Bitcoin and gold fell simultaneously as the market bets on rising interest rates pressuring non-yielding assets. Bitcoin dropped about 7% this week, while gold fell below $4,200 per ounce.The rebound was mainly driven by short covering, with over $500 million in bearish bets liquidated in the past week, while spot demand has not yet returned significantly. Traders are focusing on Wednesday's U.S. inflation data and the policy stance of the new Federal Reserve Chairman Kevin Warsh. If inflation remains high, it could prompt interest rates to stay elevated, further pressuring risk assets. The rare simultaneous decline of Bitcoin and gold undermines their rationale as macro hedging tools.