AB Kuai Dong

I am very glad to meet CZ in Tokyo. This is his return to Japan after 7 years, and during this time, the entire industry has undergone tremendous changes.

At this event, I asked CZ a question: How do you view the on-chain of everything and the tokenization of stocks?

He replied: There have not yet been large-scale coin-stock products on the market. The possible reason is that each country and region has different policies, making it difficult for coin-stock investors to receive dividends and easily redeem stocks. There are also price differences during trading. However, projects on the chain are usually global in nature, which was a significant pain point back then.

Restrict areas or try to solve it?

But he reiterated that the trend of RWA cannot be stopped. $BNB

Reuters reports that China’s two major memory manufacturers, CXMT and Yangtze Memory, have gained absolute pricing power. Among them, CXMT Storage refused Huawei’s request not to raise prices, and instead raised the prices for the hardware it supplies to them.

Even in June of this year, without any warning, CXMT Storage instructed Huawei’s closely connected supplier, Newcailai, to have the employees responsible for commissioning equipment leave CXMT Storage’s factory on site immediately, and they never returned.

Netizens say that the guy who was dismissed after sharing a year-end bonus of 3.17 million yuan from Tencent was fired because his screenshot contained a hidden watermark inside Tencent. After the news spread, the company used the watermark to immediately identify the person, then revoked his access.

As for the guy himself, he won the highest-level performance rating twice last year. Only 10–20% of people can achieve that, and the bonus is typically at least an additional six months’ salary—so he ended up receiving that much cash and stock.

Boom, boom! Microsoft’s official website has just published a public letter jointly signed by 25 companies, including Nvidia, IBM, Dell, and the YC incubator, among others.

It calls on the U.S. government not to restrict open-source AI models, because they can benefit the entire industry and help all of humanity.

I looked around the English-speaking community and it seems everyone is panicking about next Monday.

The reason is that Kimi K3 is expected to be open-sourced before July 27. If it’s released this weekend and has an impact, then the market will reprice the outcome on Monday.

And next Monday also has Changxin Memory, this mega IPO—China’s version of SK Hynix, a price killer…

Previously, to the CSRC, the HKEX, and other departments, a former employee who filed a real-name report alleging that Xiaohongshu’s IPO had structural issues said that Xiaohongshu had already dispatched employees to contact him and sought an in-person meeting to discuss and resolve the matter.

And just 2 days ago, Xiaohongshu also issued a refutation to the media, saying that the rumor—claiming that the former employee’s report of its compliance issues had blocked its listing—was not true.

All Korean stock investors are paying attention to SK Hynix chairman Choi Tae-won’s divorce case, which is about to reach a verdict.

After Choi Tae-won, chairman of SK Hynix, divorced his ex-wife Lu Su-young, they have continued fighting in court over property issues. At the heart of the dispute is whether the SK Hynix shares held by Choi Tae-won should be included in the couple’s marital property, and at which point in time those shares should be valued.

Although in 2024, the court ordered the chairman, Choi Tae-won, to pay his ex-wife Lu Su-young 1.38 trillion won—about 1 billion US dollars—in divorce compensation, setting the record for the largest divorce settlement amount in South Korea.

But after Choi Tae-won appealed, South Korea’s Supreme Court overturned that ruling and sent the property division issue back for a retrial. Therefore, the Seoul High Court will issue a renewed ruling on July 24—today.

During this retrial of the divorce case, the entire SK Hynix company has also surged along with the semiconductor boom. As a result, this ruling also affects SK Hynix’s actual control of the company’s shares in the future.

Was Buffett also “cut” (i.e., shorted)? On June 1, Google’s parent company announced it would issue $10 billion worth of shares through a directed placement to Berkshire Hathaway—at $351.81 per share for Class A common stock and $348.2 per share for Class C capital shares.

And as these past two days’ earnings reports came in unexpectedly, Google’s parent company’s stock price has fallen below the discounted price set for Buffett’s directed placement, putting it in an 8–9% unrealized loss.

At this International Congress of Mathematicians, both of the two Chinese winners of the Fields Medal, Wang Hong and Deng Yu, are alumni of Peking University, Class of 2007. This is one of the highest honors in the international mathematical community, often referred to as the Nobel Prize of the field of mathematics.

What’s interesting is that from their campus profile pictures to the office desks featured in the documentary short, it seems they are all otaku anime fans.

This is totally unbelievable. There’s a guy who has been verified as a Meituan employee. He anonymously posted online that in the medical and health technology department where he works, the mid-level staff and team leaders are all loyal insiders and connections. As a result, everyone in the department whose surname is Ma or who is a member of the Horse zodiac was investigated—just because his anonymous nickname contains the character “Ma”.

Changxin Technology has confirmed that it will be listed on China’s STAR Market on July 27 (next Monday). This means that, following SK hynix, Samsung Electronics, and Micron Technology, the world’s fourth-largest memory DRAM manufacturer will have secondary-market pricing.

Due to the mechanism of the STAR Market, for stocks that are newly issued and listed for the first time, during the five trading days prior to listing, there are no limits on price increases or decreases.

Tariff Extension! The United States will, starting today, impose new tariffs of 10% or 12.5% on 60 trading partners to replace the 10% global temporary import tariff that expires on the same day.

According to the announcement, the EU, the UK, Switzerland, and others will be subject to the 10% tariff. Many Asian countries, such as China, South Korea, Japan, and Singapore, will be subject to 12.5%.

Move toward a 24-hour U.S. stock market. The SEC announced that it will hold a meeting in Washington on September 17 to discuss progress on advancing around-the-clock trading of the U.S. stock market.

The move comes as multiple exchanges have already been approved to extend trading hours. For example, Nasdaq has been permitted to conduct trading for 23 hours; going forward, besides pre-market, after-hours, and the main session, investors will also need to consider overnight sessions with longer durations.

Multiple articles published last night and this morning about DeepSeek boss Liang Wenfeng’s internal remarks to investors were taken down throughout the afternoon.

According to the full text of the remarks that the media obtained and leaked, DeepSeek had previously asked all attendees to prohibit recording audio/video, screen captures, and sharing the content externally.

An era comes to an end. BitMEX, once the largest crypto derivatives exchange in the world, has just suddenly announced that it will cease operations and shut down on September 23. The company was co-founded by legendary trader Arthur Hayes, known as “lao hei” (Old Black), and others.

In February of last year, BitMEX was reported to be seeking a sale, but no final deal was reached. BitMEX is known for launching perpetual contracts in 2016.

Driverless taxis are back—and can now operate on domestic roads again. Bloomberg reports that China has reissued operational permits for autonomous taxis. This year in March, Baidu’s 100-plus Robotaxis operating in Wuhan were suddenly halted by a computer crash, which led to traffic congestion and prompted regulators to urgently suspend them across the industry.

However, after completing safety reviews by the end of June, some cities gradually resumed approvals and allowed autonomous vehicles back on the road.

That’s so terrible. The guy who previously posted about his 3 million RMB annual salary at the Tencent (Goose) company was later let go, and they just released an internal notice.

I didn’t expect the product mid-level managers in the WeChat department to have such high pay.
Back then, many people said it was AI-generated, but it turned out to be real.

A source close to Lianxian Magazine has claimed that within the current Trump administration, there is disagreement over how to respond to China’s AI. Some officials at the White House advocate tightening restrictions and studying how to prevent open-source activity that would encroach on U.S. companies’ market share.

However, the Ministry of Commerce believes these restriction measures are difficult to implement and that it would be better to promote leading U.S. AI labs to develop their own open-source large language models, competing with China in the open-source space.