Cointime

字节重组飞书：产品归豆包，销售归火山引擎
据动察 Beating 监测，字节跳动启动 ToB 业务大重组。飞书产品团队将与豆包产品团队合并，成立新的豆包产品团队。飞书负责人谢欣改向豆包负责人赵祺汇报。飞书的销售、市场和客户服务团队则并入火山引擎。双方将成立新的 ToB 商业化组织「创造力服务平台」，统一负责字节 MaaS、SaaS 等企业服务，由火山引擎负责人谭待负责。重组后，飞书现有产品和服务保持不变。由飞书团队参与开发的豆包企业版，已在部分飞书客户中内测。该产品可以调用飞书文档、群聊、会议和企业知识，继续执行复杂任务。这是字节 2021 年实行业务板块化以来，规模最大的一次 ToB 调整。此后，豆包负责企业 AI 产品，飞书提供办公入口和企业数据，火山引擎负责销售和交付。

三星电子：暂不考虑发行美国ADR，未来持开放态度
7 月 30 日，三星电子表示，目前不考虑发行美国存托凭证（ADR），中长期内对发行 ADR 持开放态度。

Fresh uncertainty over the Iran–U.S. conflict has resurfaced; WTI crude oil’s intraday gain once reached 7%
On July 29, Trump made tough remarks about Iran today. The Israeli prime minister also went to the United States in person, and market expectations are that concerns about an Iran–U.S. conflict may resurface. As a result, according to Bitget quotes, WTI crude oil’s intraday gain once expanded to 7.00%, and is currently at $83.7 per barrel. Brent crude is up 6.5% and is trading at $87.3 per barrel.

Federal Reserve: The FOMC meeting will resume as scheduled at 9:00 a.m. on Wednesday (9:00 p.m. Beijing time)
July 29, 2024: The Federal Reserve: The FOMC meeting will resume as scheduled at 9:00 a.m. on Wednesday (9:00 p.m. Beijing time).

WTI crude oil intraday gains reach 5%
On July 29, according to Bitget market data, WTI crude oil’s intraday gain reached 5%, trading at $83.25 per barrel.

BlackRock pre-market continues to rise about 2%, teaming up with Meta to increase AI infrastructure investment
On July 29, global asset management giant BlackRock (BLK.US) continued to gain about 2% in pre-market U.S. stock trading. According to a Bloomberg report, tech giant Meta has recently announced a partnership with BlackRock. The two sides have agreed to establish a joint venture company to jointly develop and operate a large AI data center park located in El Paso, Texas, in the United States. The project’s total development investment is expected to be $14 billion, providing strong support for the construction of AI computing power infrastructure. This collaboration enables BlackRock to participate deeply in AI infrastructure investment, aligning with current market hotspots and directly boosting investor sentiment.

Institution: A stronger yen requires multiple factors to align
On July 29, T. Rowe Price portfolio manager Vincent Chung said the Bank of Japan is expected to keep interest rates unchanged on Friday, but may signal a faster pace of rate hikes than previously implied—more frequent than once every six months. The co-portfolio manager said: “Our strongest view is that the Bank of Japan needs to raise rates at a faster pace.” The market also still believes that the pace of the Bank of Japan’s policy adjustments is lagging behind developments. If the Bank of Japan accelerates the pace of policy normalization, he expects there could be two more rate hikes this year. He added: “For the yen to achieve a clear and sustained appreciation, it may require the Bank of Japan to tighten monetary policy faster, a decline in energy prices, and more coordinated and consistent FX intervention measures working together.”

SlowMist: Detects a new type of recruitment scam targeting Web3 professionals, with malware disguised as an AI interview tool
On July 29, SlowMist reported that it recently discovered a recruitment scam targeting Web3 professionals. The attackers impersonate recruiters and trick victims into installing an AI meeting software called “Relay,” which is actually a malicious information-stealing program. The malware targets both macOS and Windows users and can steal sensitive information such as browser credentials, data related to crypto wallets, Keychain data, Telegram sessions, and more. SlowMist has completed sample analysis and disclosed how the attack chain works. SlowMist advises that when participating in online interviews or recruitment processes, people should be cautious about installing unfamiliar software, avoid running unverified applications, and watch for unusual installation requests or system password prompts.

Spot silver rises 1.75% intraday
On July 29, according to Bitget market data, spot silver was up by $1 intraday. It was trading at $58.10 per ounce, up 1.75%.

SpaceX has fallen behind about 80% of Nasdaq’s large IPOs
On July 29, 1) SpaceX is currently down about 50% from its June 16 peak. Previously, its share price had risen about 50% above its IPO offer price. Data from Vanda Research shows that since July began, retail investors have net bought about $315 million worth of SpaceX stock—far more than the capital invested in any other single stock over the same period.
2) Compared over the same number of trading days after listing, SpaceX’s performance is now trailing about 80% of Nasdaq large-cap IPOs. Just a few weeks ago, SpaceX was beating about 80% of similar IPOs, and was among the strongest-performing stocks in terms of post-listing gains. After investor enthusiasm began to fade, trading driven by market sentiment and momentum quickly reversed.
3) The first batch of SpaceX shares is expected to be released starting August 6, 2026, in monthly batches, until all shares are fully unlocked by December. (Jin Shi)

BTC breaks through $64,000
Market update shows BTC has broken through $64,000. It is now trading at $64,003.81. The 24-hour gain is 0.82%. Market volatility is high—please manage risk accordingly.

Korean retail traders get liquidated for 1.7 trillion won; institutions want to wait for sentiment to cool before acting
On Wednesday, July 29, Korean retail investors were forced to liquidate positions totaling about 1.7 trillion won (around US$1.2 billion). The Korea KOSPI index fell by more than 12% at one point, and SK Hynix dropped by over 17%, setting a record for the largest single-day decline. “There have been a lot of forced liquidation situations today,” said Jung In Yun, Global CEO of Fibonacci Asset Management. “We need to wait until the selling sentiment of retail investors calms down before we take action.”

ETH breaks below $1,900.00, currently at $1,897.88
ETH breaks below $1,900.00, currently trading at $1,897.88. Market is volatile; Cointime reminds investors to manage risk and control exposure.

“The Fed’s megaphone”: Nick Timiraos says uncertainty over the Fed’s July rate decision is increasing sharply—whether it hikes or not will send major signals
On July 29, Nick Timiraos of “The Fed’s megaphone” analyzed that ahead of the Fed’s July rate decision, market expectations for policy are showing an unusually clear split. Current futures markets indicate the probability of a July rate hike is about one-third. The analysis suggests that if the Fed ultimately hikes rates, it is more likely to reflect newly appointed Chair Kevin Wosh’s personal policy judgment rather than policy signals previously conveyed by other officials. If rates are kept unchanged, the market will focus on whether there are dissenting votes in favor of a hike to gauge the hawkish influence within the committee. If there is an unexpected hike, it could mean the Fed’s policy stance has undergone a major shift, and it would send the market a signal that Wosh prioritizes rebuilding the Fed’s anti-inflation credibility. The analysis notes that regardless of the outcome of this meeting, Wosh’s post-meeting remarks will become the key factor affecting market expectations. Investors will also pay close attention to whether the September meeting will further adjust policy, which will still depend on inflation data over the coming months.

The Korean KOSPI index breaks below 5,700 points, hitting a new low since April 7. SK hynix is down about 53% from its June high.
On July 29, according to Bitget market data, the South Korean KOSPI index continued to fall and broke below 5,700 points, setting a new low since April 7. It was down more than 5% during the day. SK hynix fell more than 9%, with its total market value dropping below 1,000 trillion won, down about 53% from its June high. Samsung Electronics fell 4.1%.

The Korean Exchange triggers a KOSPI index sidecar mechanism, pausing algorithmic trading for 5 minutes
On July 29, the Korean Exchange triggered the KOSPI index sidecar mechanism, pausing algorithmic trading for 5 minutes. The sidecar mechanism is mainly used to deal with sharp fluctuations over a short period; it only restricts algorithmic trading, while manual trading can continue normally. Unlike the Circuit Breaker mechanism, the sidecar mechanism does not suspend trading across the entire market. It is more like a “speed bump” during periods of market volatility. By contrast, the Circuit Breaker mechanism is typically used for extreme market conditions—once triggered, it suspends trading in the whole market to prevent panic-driven volatility from worsening further.

AI startup Dwelly raises $170 million, lays out a strategy to consolidate the real estate industry
On July 28, Bloomberg reported that UK startup Dwelly completed a $170 million funding round to acquire more real estate companies and introduce artificial intelligence technology into its business operations. On Tuesday, Dwelly said the round was led by EQT Growth and General Catalyst, including $95 million in equity funding and a $75 million debt funding facility provided by Trinity Capital. The company did not disclose its valuation following the funding.

Citrini Viewpoint: Nvidia’s moat remains deep; HBM4 cost doubles, lifting Rubin’s pricing, with high margins and strong pricing power still intact
On July 28, Citrini analyst Jukan cited a report from Fubon Securities titled “2027 Semiconductor Outlook,” stating that even though HBM4 costs will jump significantly from HBM3e’s USD 17–18/GB to USD 31–32/GB in 2026—pushing the price of Nvidia’s Rubin GPUs to about USD 78,000 to USD 80,000—Nvidia can still maintain a high gross margin of 75% to 80%, with its pricing power and cost-transmission capability remaining unchanged. The report also noted that the HBM cost for customized ASICs could be even higher, reaching USD 35–36/GB, implying that HBM costs in 2027 will double. The Fubon Securities report remains optimistic about AI market demand, believing that although the market is currently concerned about AI inflation, Token costs are still a more important driver of cloud providers’ capital expenditures. At the architectural level, Nvidia’s new server rack plan will still use the same number of compute chips, with cabling used for Scale-up within racks and NPO/CPO used for Scale-out between racks. In addition, Google plans to deploy 12 million to 15 million TPU chips by 2028, with capacity consumption rising by more than double compared with 2027. Intel’s EMIB capacity is expected to increase to 24,000–25,000 wafers per month by the end of 2027, while TSMC will slow its SoIC expansion to prioritize expanding CoWoS capacity. The core conclusion is: even if the cost structure changes, Nvidia’s pricing power, gross margins, and demand support within the AI compute ecosystem continue to form an extremely hard-to-dislodge competitive barrier.

In the pre-market U.S. session, the storage sector declined; Micron and SanDisk fell by more than 4%, while DRAM dropped 6.92%
On July 28, according to BIT (bit.com) market data, the storage sector in the U.S. pre-market fell. Specifically: Seagate Technology (STX) dropped 4.11%; Western Digital (WDC) fell 4.9%; SanDisk (SNDK) declined 4.1%; Micron Technology (MU) dropped 4.9%; and the Roundhill Memory ETF (DRAM) fell 6.92%.

RWA’s strongest encryption narrative of July: on-chain scale hits a new high of $32.2 billion
On July 28, CryptoRank data showed that the median return of RWA tokens in July reached 10%, ranking first among major crypto narratives. On July 24, the total on-chain RWA scale rose to $32.2 billion, up 12.3% from the beginning of the month, surpassing the record high set in April this year.