Blockonomi

TLDR:
BitGo Bank & Trust now offers qualified custody for USDM1, the first onchain sovereign bond
USDM1 is backed 1:1 by US Treasuries and issued natively onchain by the Marshall Islands
Go Network enables off-exchange settlement with T+0 timing across Stellar, Ethereum, and Solana
Marshall Islands uses USDM1 to fund a 20-year Universal Basic Income program nationwide
BitGo Bank & Trust will provide institutional-grade qualified custody and off-exchange settlement for USDM1, the first natively issued onchain sovereign bond. The Marshall Islands issued this dollar-denominated instrument, which is backed 1:1 by US Treasuries.
Institutional clients can hold USDM1 in regulated cold storage and use it for collateral and settlement through BitGo’s Go Network. The service spans Stellar, Ethereum and Solana networks.
Custody Framework And Settlement Access
BitGo Bank & Trust operates as an OCC-regulated digital asset trust bank under BitGo Holdings, Inc. The bank now supports USDM1 within its qualified custody platform for institutional clients.
Segregated accounts, offline key management and institutional controls form the foundation of this custody structure. These features apply across all three supported blockchain networks.
BitGo announced the news in a post on X, describing USDM1 as the first natively issued onchain secured sovereign bond.
Today we're announcing institutional-grade qualified custody and off-exchange settlement for USDM1, the world's first natively issued onchain secured sovereign bond.
Institutional clients can hold this dollar-denominated sovereign bond in regulated custody on BitGo and use it…
— BitGo (@BitGo) July 17, 2026
The company stated that institutional clients can hold this dollar-denominated sovereign bond in regulated custody on BitGo and use it for collateral and settlement through BitGo’s Go Network. The post confirmed availability across the three supported networks.
Through the Go Network Off-Exchange Settlement solution, eligible clients can deploy USDM1 to connected trading venues.
This access operates continuously, with settlement completed on the same day trades occur. Assets do not need to move onto an exchange for this process to function.
This structure aims to reduce exposure during the trading day and lower settlement risk for institutions. It also targets a reduction in pre-funding requirements across trading and financing operations.
BitGo positions this setup as a way to improve capital efficiency for institutional clients working with digital assets.
Sovereign Bond Structure And Broader Application
USDM1 was issued by the Republic of the Marshall Islands as a secured sovereign bond. The instrument follows a structure similar to a fully collateralized Brady bond under New York law. It is designed to accrue value daily, with minting and redemption tied to live signed price quotes.
Mike Belshe, CEO and co-founder of BitGo, addressed the announcement directly. He said USDM1 is “a different kind of asset – sovereign collateral with Treasury backing, built to fit how institutions already operate.” He added that custody access allows institutions to use the asset within infrastructure they already rely on.
Hon. David Paul, the Marshall Islands’ Minister of Finance, Banking and Postal Services, also commented on the partnership.
He noted that the government “truly appreciates BitGo’s partnership and is proud to see this infrastructure put to work built on trusted legal frameworks.”
He described USDM1 as anchored in the full faith and credit of the Marshall Islands government, secured by underlying US Treasury collateral.
Beyond institutional finance, the Marshall Islands has deployed USDM1 in a nationwide Universal Basic Income program.
The program distributes funds quarterly across more than 1,200 islands over a 20-year period. Financial institutions have also begun using USDM1 as a treasury instrument in daily operations.
The post BitGo To Offer Institutional Custody for USDM1 Sovereign Bond appeared first on Blockonomi.

Established digital platform AlienWP extends its coverage into the iGaming sector, launching dedicated casino news, regulatory updates, and review content while simultaneously building Alien Wise Play player resource
AlienWP, which launched as a digital resources platform in 2013, has revealed plans to enter the online casino and iGaming news space. The site will begin publishing consistent coverage of industry developments, casino evaluations, regulatory frameworks, promotional offers, and player safety initiatives, complementing its original digital content focus.
Main Announcement
This strategic shift positions AlienWP as a contributor within the iGaming media landscape, delivering readers timely updates on casino operations, legal frameworks, regulatory authorities, and promotional structures. According to the company, the objective is to deliver clear, fact-based information to players without resorting to sensationalism or marketing-driven narratives.
The company characterizes this move as a logical extension of its existing mission as a digital information hub, responding to growing demand from its audience for unbiased, accurate casino sector coverage.
Supporting Details
In parallel with its editorial content, AlienWP is building Alien Wise Play, an online tool created to enable players to evaluate casino operators, bookmark preferred platforms, monitor promotional offers, and access regulatory details. The service does not function as a gambling operator, handle financial transactions, or provide wagering recommendations.
Alien Wise Play generates revenue through affiliate arrangements, though AlienWP positions it as a player-focused resource rather than a conventional affiliate site. The organization emphasizes that openness, player safety, and gambling responsibility form the foundation of the platform’s design philosophy.
A key component of Alien Wise Play is the Wise Play Score, a proprietary assessment framework that judges casino sites on regulatory compliance, trustworthiness, payment integrity, operational transparency, customer service quality, and player safeguards. AlienWP has indicated that upcoming iterations will incorporate aggregated user input and AI-powered evaluation tools, while maintaining editorial autonomy.
Additional details about the platform can be found at Alien Wise Play.
Spokesperson Quote
Oliver Dale, representing AlienWP, commented: “This move enables us to provide players with credible, unbiased casino industry coverage and evaluations in a centralized location. Simultaneously, we’re developing Alien Wise Play as a tool for players to assess casino operators and navigate licensing requirements more effectively, with player protection integrated into the foundation of the platform.”
Future Plans
AlienWP intends to expand its iGaming and casino news reporting throughout the upcoming months, as development work advances on both Alien Wise Play and the Wise Play Score system. This encompasses planned enhancements for user feedback integration and AI-driven analytical capabilities, with editorial independence maintained as a core principle.
About AlienWP
Established in 2013, AlienWP operates as an iGaming news and casino information resource delivering coverage of online casino developments, operator reviews, regulatory frameworks, promotional offers, responsible gaming practices, and sector trends. The organization is concurrently developing Alien Wise Play, a player-oriented comparison dashboard enabling users to evaluate casino sites, monitor bonuses, and navigate licensing and security information. Additional information can be accessed at alienwp.com.
Media Contact
Oliver Dale
AlienWP
Website: https://alienwp.com
The post AlienWP Ventures Into iGaming Coverage With New Casino News Platform appeared first on Blockonomi.

TLDR:
The FTX repayment will distribute approximately $900 million on July 31 to eligible creditors meeting all verification requirements.
Dotcom and United States customer claims will reach cumulative recoveries of 105% under the fifth bankruptcy distribution.
General unsecured and digital asset loan claims will reach 103%, while Convenience Claims will receive cumulative recoveries of 120%.
Preferred equity holders will separately receive $18 million, raising total payments from their remission trust to $95 million.
FTX will begin its fifth creditor distribution on July 31, paying approximately $900 million under its confirmed restructuring plan. The FTX repayment covers eligible Convenience and Non-Convenience claim holders who met the June 16 record date requirements.
Recipients should receive their money through BitGo, Kraken or Payoneer within one to three business days. FTX confirmed that claimants must complete identity checks, tax documentation, and provider onboarding before receiving payments.
The latest bankruptcy distribution continues a repayment process that began after FTX’s Chapter 11 reorganization became effective. Several claim classes will now receive cumulative distributions exceeding their allowed bankruptcy values.
FTX announced it will begin its Fifth Distribution of ~$900 million on 7/31/26 to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes that have completed the pre-distribution requirements.
— FTX (@FTX_Official) July 17, 2026
However, those values remain based on cryptocurrency prices around FTX’s November 2022 collapse. Creditors therefore receive additional cash above approved claims, but not the full gains produced by the later cryptocurrency recovery.
FTX Repayment Raises Recoveries Across Creditor Classes
Allowed Dotcom Customer Entitlement Claims will receive an additional distribution equal to 9% of approved claim values. This payment raises their cumulative recovery to 105%.
United States Customer Entitlement Claims will receive another 5%, also increasing their total recovery to 105%. General Unsecured Claims and Digital Asset Loan Claims will each receive an additional 3%.
Those two groups will reach cumulative distributions of 103% following the FTX repayment. Convenience Claims will receive cumulative recoveries of 120%, according to the official payment schedule.
Actual percentages may vary slightly because of rounding and individual claim calculations. FTX plans to file detailed distribution figures with the bankruptcy court after the July 31 payment date.
Eligible FTX creditors previously selected a distribution provider through the customer claims portal. Their choices include BitGo, Kraken and Payoneer, depending on their location and account eligibility.
Selecting a provider directs FTX to send the cash payment directly to that company. Creditors must then contact their selected provider regarding account access or the availability of transferred funds.
Future payments will only cover claims recorded as allowed before the relevant record date. Transferred claims must also appear on the official register after the required objection period expires.
FTX Repayment Includes Preferred Shareholder Payment
FTX will make a separate $18 million payment to eligible preferred equity holders on July 31. That payment will come from the Preferred Shareholder Remission Fund Trust.
The second preferred payment will raise total distributions from the trust to $95 million. Eligible holders must have qualified by the June 16 preferred record date.
Institutions receiving preferred payments must onboard with BitGo. Individual preferred shareholders must use Payoneer and complete the required consent documents.
Additional requirements include ownership certification, identity verification, and completed tax forms. FTX began contacting possible preferred equity holders in January 2026.
The FTX repayment announcement follows a fourth distribution of approximately $2.2 billion completed during March. The estate has continued releasing funds as claims become allowed and reserves are adjusted
FTX previously proposed reducing its disputed claims reserve by about $600 million, from $2.4 billion to $1.8 billion. The planned reduction could release additional cash for approved claims under the bankruptcy distribution process.
The estate also repeated its warning about fraudulent emails and imitation claims websites. FTX said it will never request customers to connect cryptocurrency wallets when processing payments.
The post FTX Repayment Sets $900 Million Creditor Payout for July 31 appeared first on Blockonomi.

TLDR:
The CLARITY Act revised text is now expected next week after a White House meeting failed to resolve the disputed ethics provisions.
Polymarket approval odds briefly fell to a record 31% before recovering to 35%, compared with a 73% probability during May.
Senate Democrats want stronger conflict-of-interest rules before providing the bipartisan votes needed to move the legislation forward.
The New York House hearing supports the case for crypto regulation but does not advance the bill or alter its Senate voting timetable.
The CLARITY Act has suffered a fresh setback after lawmakers failed to release revised Senate text following a White House meeting. Industry sources now expect the document next week, extending uncertainty around the crypto market structure bill. Polymarket briefly priced the legislation’s 2026 approval odds near 31% before they recovered to 35% on Friday.
The sharp fall from 73% in May reflects doubt that negotiators can settle the ethics dispute and secure enough Democratic votes. A House field hearing in New York may support the policy case, but it does not change the Senate timetable or advance the bill directly.
CLARITY Act Text Delay Deepens the Senate Ethics Standoff
President Donald Trump met Republican senators on Thursday to discuss the ethics provisions holding up the legislation. The meeting did not produce the promised updated draft. Journalist Eleanor Terrett reported that industry leaders now expect the text to slip into next week.
The @FinancialCmte will hold a field hearing at 10 AM ET in New York examining how the Clarity Act could unlock innovation. The hearing is informational and does not affect the Senate’s consideration of the bill.
Meanwhile, updated legislative text remains elusive following… pic.twitter.com/crMgbG1TVd
— Eleanor Terrett (@EleanorTerrett) July 17, 2026
The delay matters as Senate leaders have little time to build a bipartisan coalition before the August recess. The measure needs 60 votes to advance. That requirement leaves the bill dependent on Democratic senators seeking stronger conflict-of-interest rules.
Senator Ruben Gallego has described the Republican ethics language as too weak. Democrats want tighter restrictions covering the president, vice president, senior officials and members of Congress with crypto interests. Trump’s 2025 financial disclosure, which reported more than $1 billion in crypto-related gains, has intensified the dispute.
Senator Cory Booker has kept negotiations open but says the legislation requires a bipartisan pathway. Releasing text without Democratic support could harden opposition before negotiators settle the most contested language.
The legislation previously carried bipartisan momentum. The Senate Banking Committee advanced H.R. 3633 by a 15-9 vote on May 14. It was reported to the Senate on June 1 and placed on the legislative calendar as Calendar No. 423. No floor vote has been scheduled.
Approval Odds Fall as the Hearing Offers No Senate Fix
The House Financial Services Committee held its New York field hearing at 10 a.m. ET on Friday. The session examined how the CLARITY Act could support digital asset innovation and establish clearer federal oversight.
Witnesses included representatives from Nova Labs, Bullish, WisdomTree and Coin Center. Their testimony covered digital commodity rules, market infrastructure, consumer safeguards and protections for software developers. However, the hearing carried no authority over the Senate process.
Prediction markets reacted to the weaker timeline. Polymarket’s contract for the CLARITY Act becoming law in 2026 traded near 31% during Friday’s session. It later showed 35%, compared with 73% on May 11 and about 47% in early June.
The market requires H.R. 3633 to pass both chambers and receive the president’s signature by December 31, 2026. A Senate vote alone would not settle the contract. Lawmakers would still need to resolve differences between the Senate amendment and the House-approved version.
The CLARITY Act would create a federal framework for digital commodities and define oversight roles for the Securities and Exchange Commission and Commodity Futures Trading Commission. Its rules could affect token issuers, exchanges, brokers, custodians, and non-custodial developers.
The delayed draft leaves compliance teams without final language on registration, disclosures, custody, developer liability, and ethics restrictions. Those details will determine whether Democrats rejoin the coalition that moved the legislation through committee in May.
The post CLARITY Act Approval Odds Hit Low as Senate Text Faces Delay appeared first on Blockonomi.

Key Takeaways
TSMC delivered exceptional AI-powered results, yet shares declined as sky-high investor expectations went unmet
Semiconductor selloff extended across Nvidia, AMD, Broadcom, ASML, Micron and Arm Holdings
Netflix shares fell following disappointing forward guidance for the upcoming quarter
SpaceX stock continued its decline below IPO levels amid launch postponements and lock-up period concerns
Crude oil surged past $81 per barrel, reigniting inflation fears across financial markets
TSMC’s Exceptional Performance Falls Flat With Investors
Taiwan Semiconductor Manufacturing unveiled blockbuster quarterly earnings and revenue figures, propelled by surging demand for artificial intelligence processors from major clients like Nvidia, Apple, AMD and Broadcom. Management also announced an increase in capital expenditure projections through 2027.
Yet the positive financial data couldn’t lift the stock. Market participants have elevated expectations for AI-related companies to such heights that even outstanding quarterly reports fail to satisfy investor appetite for growth.
Semiconductor Sector Faces Broad Weakness
The downturn in Taiwan Semiconductor Manufacturing rapidly cascaded throughout the wider semiconductor industry. Leading chipmakers including Nvidia, AMD, Broadcom, ASML, Micron and Arm Holdings all experienced declines during the trading session.
Market experts emphasize that the selloff doesn’t signal deteriorating AI demand fundamentals. Instead, many believe investors are securing gains following substantial valuation increases, while questioning whether present prices have already priced in anticipated future expansion.
Major cloud service providers and technology corporations continue allocating billions toward data center infrastructure and computing equipment. The critical question facing market participants is whether this correction represents a temporary consolidation or signals the beginning of an extended downturn.
Netflix Tumbles on Disappointing Forward Outlook
Netflix delivered quarterly figures that aligned with analyst projections but lacked the wow factor investors sought. The primary concern centered on forward-looking projections. Company executives indicated a more conservative outlook for the next quarter and announced plans to reduce transparency around certain user activity metrics.
Subscription additions remained robust and the advertising-supported membership tier showed continued momentum. Expenditures in live sporting events and entertainment programming are also increasing. However, these positives couldn’t counterbalance management’s cautious forward-looking commentary.
The decline in Netflix valuation served as another illustration that forward guidance carries equal weight to actual results during the current earnings reporting period.
SpaceX Shares Continue Post-IPO Descent
SpaceX equity continued its downward trajectory beneath the company’s initial public offering valuation. Postponed Starship launch schedules, impending insider share lock-up expirations and widespread weakness in growth-oriented equities have all contributed to negative sentiment.
Industry analysts maintain their view of SpaceX as among the most valuable aerospace enterprises globally, supported by its satellite operations and government service agreements. However, market participants appear to be adopting a wait-and-see approach, demanding concrete financial performance before reestablishing positions.
Crude Oil Breaks Through $81 as Markets React
Crude oil prices climbed beyond $81 per barrel following escalating geopolitical tensions across the Middle East that heightened supply disruption fears. Elevated energy expenses create headwinds for consumer spending and complicate central bank efforts to maintain price stability.
This price movement follows closely behind encouraging US inflation statistics that had previously boosted market optimism. Should oil prices maintain their upward trajectory, market participants may need to recalibrate Federal Reserve interest rate reduction expectations for the latter portion of the year.
The post Market Turbulence: AI Chip Stocks Plunge Despite TSMC’s Record Earnings, Netflix Guidance Disappoints appeared first on Blockonomi.

Key Takeaways
SPCX shares declined approximately 4.8% Friday, dropping beneath $125 — now trading below its initial public offering price
The 13th Starship test flight was canceled after two Raptor engines experienced ignition failures
Elon Musk announced engine replacements are planned, with a rescheduled launch expected in the coming days
Market capitalization has declined by more than $1 trillion from its June high of $2.64 trillion
Industry experts emphasize the importance of a successful Flight 13 before SpaceX’s inaugural earnings report in August
Shares of SpaceX tumbled nearly 4.8% during Friday’s trading session, reaching a new post-listing low beneath the $125 threshold. The stock now trades approximately $10 under its debut price from the previous month, officially marking it as a broken initial public offering.
The decline came after the company postponed Starship’s thirteenth test mission, which was called off moments before scheduled liftoff from its Texas facility on Thursday evening.
A pair of Raptor engines mounted on the Super Heavy booster experienced ignition failures, activating an automated safety abort sequence. CEO Elon Musk addressed the situation via social media, indicating that replacement engines would be installed.
“To be confident of a good flight, 2 Raptors will be removed and replaced,” Musk shared online. “Most probable launch timing is early next week.”
This canceled launch represents SpaceX’s first significant challenge since completing its June public offering. The aerospace manufacturer’s valuation has plummeted from its June 16 zenith of $2.64 trillion to approximately $1.65 trillion at Friday’s market opening — representing nearly $1 trillion in erased value.
Notably, the twelfth Starship test mission conducted in May similarly encountered propulsion complications and prompted a Federal Aviation Administration review. Propulsion system dependability continues to emerge as a recurring challenge.
The Strategic Importance of Starship
Starship represents a cornerstone of multiple critical objectives for SpaceX’s future operations. The vehicle stands as the only rocket presently designed to transport Musk’s advanced V2 Mobile and V3 Starlink satellites into orbital deployment.
Additionally, NASA has designated Starship as the lunar landing system for transporting astronauts back to the moon’s surface through the Artemis program’s Human Landing System initiative.
Market Analyst Perspectives
Myles Walton from Wolfe Research indicated that a successful thirteenth flight would strengthen investor sentiment before SpaceX conducts its maiden earnings presentation, anticipated in early August.
Walton also highlighted upcoming liquidity concerns. Approximately 1.2 billion additional shares are projected to become tradeable in August.
“Getting a clean Flight 13 will be important to have into that potential supply influx, particularly given the persistent stock fade in recent weeks,” Walton stated.
The equity has experienced consistent pressure since reaching its post-IPO peak, sliding beneath its offering price earlier in the week before Friday’s session amplified those declines.
Despite the negative price action, certain market observers suggest the selloff may be excessive. A brief postponement to swap out engines represents standard procedure in aerospace development — and potentially demonstrates prudent safety protocols rather than launching with malfunctioning components.
Shares were changing hands around $124.80 during midday Friday trading, within a 52-week trading range spanning $122.14 to $225.64.
The post SpaceX (SPCX) Stock Plunges Below IPO Price After Starship Engine Failure appeared first on Blockonomi.

Key Takeaways
Tesla’s Q2 2026 earnings announcement scheduled for Wednesday, July 22, following market closure
Options market indicates potential volatility of approximately 7% post-earnings
Wall Street consensus projects Q2 revenue at ~$26.54B (18% year-over-year growth) with EPS of $0.55
Morgan Stanley increased price target to $417, emphasizing long-term AI initiatives over quarterly metrics
TSLA shares have declined over 13% year-to-date, maintaining a consensus Hold with average price target near $405–$408
As Tesla approaches Wednesday’s quarterly earnings announcement, the electric vehicle manufacturer faces heightened uncertainty — and market volatility indicators reflect it.
Options traders are forecasting potential price movement of approximately 7% in either direction by week’s end following the Q2 disclosure. This positions the stock in a potential range from roughly $365 on the lower end to $416 on the upper end based on Thursday’s closing price. Year-to-date, TSLA shares have shed more than 13%.
With shares hovering around the $380 mark, these projected movements represent significant value shifts that market participants are monitoring intently.
Analyst consensus calls for Q2 revenue approaching $26.54 billion, representing an 18% increase compared to the prior-year period. Adjusted earnings per share are anticipated at $0.55, reflecting a 15-cent improvement over last year’s corresponding quarter. Alternative projections from TipRanks suggest EPS of $0.52 on revenue of $25.99 billion.
Earlier in July, Tesla exceeded delivery projections, signaling momentum improvement during the initial half of 2026 following two consecutive years of sales declines. This performance provides encouraging context ahead of the earnings release.
However, the quarterly figures themselves aren’t generating the primary discussion.
The Real Focus for Investors
Morgan Stanley upgraded its Tesla price objective to $417 from $415 recently. Their analysts characterized Q2 performance as potentially strong, yet emphasized that the “key investor debate remains unchanged: can Robotaxi and Optimus progress quickly enough to justify an accelerating AI investment cycle?”
Put simply, the quarterly performance may be secondary. Developments regarding Tesla’s self-driving vehicle initiatives and its Optimus humanoid robot platform are anticipated to influence market response more significantly than traditional financial metrics.
Tesla has been strategically rebranding itself as an artificial intelligence and robotics enterprise rather than exclusively an electric vehicle manufacturer. Any substantive advancement — or absence thereof — on these strategic fronts will probably establish market sentiment trajectory through the remainder of 2026.
Ownership Structure
Regarding ownership composition, Elon Musk maintains the dominant individual position at 29.91%. Vanguard represents the next significant holder with 5.97%. Public corporations and retail investors together control 33.42% of TSLA, establishing retail sentiment as a meaningful element in stock movement surrounding major announcements.
Exchange-traded fund holdings are substantial as well — the Vanguard Total Stock Market ETF maintains 2.38% exposure while the Vanguard S&P 500 ETF holds 1.95%.
Wall Street opinion remains divided. TipRanks data reveals 10 Buy ratings, 16 Hold ratings, and 3 Sell ratings issued over the past three months. The mean price target stands at $405.42, suggesting approximately 6.75% appreciation potential from present levels.
Visible Alpha monitors 11 analysts — six neutral, four buy recommendations, one sell — with price targets spanning from $130 to $600.
That substantial $470 spread between the floor and ceiling price targets underscores just how polarizing this equity remains among professional analysts.
Tesla is scheduled to publish its Q2 2026 financial results on Wednesday, July 22, following the market close.
The post Tesla (TSLA) Earnings Preview: 7% Swing Expected as Wall Street Eyes Robotaxi Updates appeared first on Blockonomi.

Key Highlights
Q1 2026 revenues reached $193.4M, representing a 94% increase year-over-year
Major multiyear agreement with OpenAI valued above $20B includes deployment of 750MW inference infrastructure
Strategic AWS collaboration expands Cerebras inference access to Amazon cloud users
2026 core revenue projections stand at $855M–$865M, indicating approximately 69% annual expansion
Gross profit margins between 38%–41% remain below Nvidia’s mid-70% range, with ongoing operational losses
When Cerebras Systems debuted on public markets, it captured significant attention as a high-profile AI semiconductor offering. Following an initial surge, shares have retreated, leaving market participants to debate whether the current valuation presents an attractive entry point or signals deeper concerns.
Let’s examine what the financial data reveals.
For the first quarter of fiscal 2026, Cerebras delivered $193.4 million in total revenue, marking a substantial 94% expansion compared to the prior-year quarter. Equipment sales climbed 59% to reach $110.6 million, while cloud-based and service offerings demonstrated even more impressive momentum, surging 178% to $82.8 million.
The accelerating cloud segment deserves attention. Subscription-based compute revenue offers better economics than traditional hardware transactions, and its rapid expansion indicates customers are increasingly committed to the platform ecosystem.
For the complete fiscal year, leadership projects core revenues landing between $855 million and $865 million, translating to roughly 69% growth at the midpoint. This represents robust expansion for a newly public enterprise navigating competitive AI infrastructure markets.
Strategic Partnership with OpenAI
The most significant development centers on a long-term arrangement with OpenAI exceeding $20 billion in value. This collaboration calls for OpenAI to implement 750 megawatts of Cerebras-powered inference infrastructure across multiple years.
This represents substantial validation from an industry-leading artificial intelligence organization.
Additionally, Cerebras has formed an alliance with Amazon to deliver its inference capabilities via AWS infrastructure. This strategic distribution approach provides access to countless startups and established companies without requiring individual customer acquisition efforts.
The counterbalance to these achievements involves customer concentration risk. Much of the company’s immediate trajectory hinges on a limited number of major clients executing extremely large-scale commitments.
Profitability Challenges Persist
Cerebras continues operating in the red. The organization reported a $14 million GAAP net loss during Q1 2026 and anticipates adjusted operating margins ranging from negative 28% to negative 32% across the full year.
Projected adjusted gross margins fall between 38%–41% for 2026. This trails significantly behind Nvidia’s mid-70% margins and AMD’s mid-50% performance. Wafer-scale processor technology presents substantial manufacturing complexity, while establishing data center capacity requires considerable capital investment.
The company secured billions through its public offering and subsequent funding rounds, providing sufficient resources for near-term execution. However, stakeholders should anticipate continued losses throughout the scaling phase.
Analyst sentiment leans cautiously positive. MarketBeat data reflects a Moderate Buy consensus among 12 analysts, comprising one Strong Buy recommendation, nine Buy ratings, and two Hold positions. The mean 12-month price objective stands at $299.30, with individual targets spanning from $273 to $340.
Given the company’s recent public debut, analyst projections will likely evolve as additional quarterly reports become available.
The latest financial update shows Q1 2026 revenue of $193.4 million exceeding expectations, with management reaffirming full-year guidance of $855M–$865M.
The post Is Cerebras Systems (CBRS) Stock a Buy Following Its IPO Pullback? appeared first on Blockonomi.

Key Highlights
Apple reclaimed the title of world’s most valuable company on Friday, reaching a market capitalization of approximately $4.88 trillion compared to Nvidia’s $4.86 trillion
Nvidia’s shares declined roughly 3.5% to approximately $203.75, concluding a 265-day reign as the highest-valued company
Semiconductor stocks have suffered significant losses, with the PHLX Semiconductor Index plunging 22% in the last month while Nvidia decreased 3.4%
Apple’s stock performance has exceeded the “Magnificent 7” cohort this year, driven by evolving investor perspectives on its artificial intelligence approach
Chinese company Moonshot AI announced its Kimi K3 model surpasses certain American AI systems, though hardware specifications remain undisclosed
For the first time since April 2025, Apple reclaimed its position as the globe’s most valuable publicly traded company on Friday, surpassing Nvidia. The iPhone manufacturer’s market capitalization reached approximately $4.88 trillion, narrowly exceeding Nvidia’s $4.86 trillion following a roughly 3.5% decline in the chip giant’s stock price to $203.75 during early trading hours.
This development brings to a close Nvidia’s 265-trading-day tenure at the summit of market capitalization rankings, which began on June 26, 2025, when it displaced Microsoft from the top position.
Despite the recent downturn, Wall Street analysts maintain an average price projection of approximately $314 for Nvidia stock, substantially higher than current trading levels. The semiconductor company was recently highlighted by Barron’s as a favorable investment when trading near $226.
JUST IN: Apple overtakes Nvidia as world's most valuable company pic.twitter.com/oOLMdOZXkX
— Hedgeye (@Hedgeye) July 17, 2026
The semiconductor sector has experienced widespread turbulence. The PHLX Semiconductor Index registered a 2.2% drop on Friday and has plummeted 22% throughout the previous month. Within this context, Nvidia’s 3.4% month-over-month decline appears comparatively moderate.
Apple’s ascension signals an evolving investor perspective on artificial intelligence. Previously, markets favored companies making substantial investments in AI infrastructure—with Nvidia emerging as the primary beneficiary. Currently, investors are gravitating toward firms positioned to leverage AI advantages without equivalent capital expenditure exposure.
The Transformation in Apple’s Market Perception
“Apple was initially perceived as trailing in the AI competition due to its limited model development spending, but investor sentiment has undergone a reversal,” explained Toni Meadows, head of investment at BRI Wealth Management. “Apple faces reduced capital expenditure pressure and enjoys superior positioning to capitalize on AI through its services division, ecosystem retention, and device refresh cycles.”
Last month, Apple introduced a substantially revised Siri platform following extended delays, framing the enhanced virtual assistant as its competitive response in the AI landscape. Industry analysts suggest Apple possesses an underutilized competitive edge through proprietary user data residing on hundreds of millions of iPhones—information that could dramatically enhance Siri’s capabilities if Apple successfully leverages it while honoring privacy principles.
Additionally, CEO Tim Cook is scheduled to transfer leadership responsibilities to hardware specialist John Ternus this September, introducing an executive succession element into the equation.
Nvidia’s Future Trajectory
Nvidia remains firmly in contention. Its processors continue powering the overwhelming majority of generative AI infrastructure, and the company could recapture the leading position if investor confidence in AI expenditures rebounds.
The forthcoming earnings reporting period will prove critical. Major technology corporations must demonstrate sustained or increased AI hardware investment—and preferably validate that Nvidia’s next-generation Vera Rubin processors are shipping at scale.
An additional consideration: China’s Moonshot AI announced Friday that its Kimi K3 model delivers superior performance versus certain American AI platforms. The company declined to specify training hardware. Should alternative chipsets prove responsible—potentially Huawei technology—this could challenge prevailing assumptions about Nvidia’s AI training supremacy.
Meanwhile, memory semiconductor manufacturers including Micron have experienced appreciation this year, with Micron surpassing $1 trillion market capitalization in May. South Korea’s SK Hynix commenced Nasdaq trading earlier this month, expanding available AI-focused semiconductor investment opportunities.
As of Friday’s close, Apple occupies the premier position—though the landscape remains dynamic.
The post Apple (AAPL) Reclaims Crown as World’s Most Valuable Company, Surpassing Nvidia (NVDA) appeared first on Blockonomi.

Key Takeaways
Alphabet shares retreated approximately 4% following news that Gemini 3.5 Pro’s launch was postponed after underwhelming internal performance metrics
First quarter FY2026 earnings per share reached $5.11 versus analyst expectations of $2.63 — exceeding forecasts by 94% — while revenues climbed 21.8% to $109.90B
Wedbush launched coverage with an industry-leading $671 price objective, characterizing the decline as a strategic entry point
BMO Capital analyst Brian Pitz upgraded his price objective to $455 from $435, maintaining his Buy recommendation
Among 64 Wall Street analysts tracking GOOGL, 57 recommend Buy or Strong Buy, with no Sell ratings issued
Alphabet (GOOGL) shares finished Friday’s session at $354.46, retreating approximately 4.44% from the opening price near $373. The catalyst: emerging reports indicating Google’s Gemini 3.5 Pro artificial intelligence model experienced delays after underperforming against internal quality standards.
The downturn occurred despite Alphabet delivering one of its most impressive quarterly performances in recent memory. First quarter FY2026 earnings per share registered at $5.11, nearly doubling the Wall Street consensus of $2.63 — representing a remarkable 94% earnings surprise. Total revenue reached $109.90 billion, marking a 21.8% year-over-year increase.
Google Cloud emerged as the quarter’s star performer, surging 63% to $20.03 billion while its project backlog nearly doubled sequentially. The current backlog now totals $460 billion.
Concerns around AI talent retention amplified selling pressure. Gemini co-leader Noam Shazeer recently moved back to OpenAI after a short stint at Google following the Character.ai transaction. Nobel Prize winner John Jumper also left DeepMind to join Anthropic. These high-profile departures sparked worries about Google’s competitive position in artificial intelligence development.
Despite market reaction, Wall Street analysts maintained their confidence.
Wedbush Issues Most Aggressive Street Target
Wedbush analyst Ygal Arounian launched coverage Thursday with a Buy recommendation and a $671 price objective — marking the highest target among major firms. Arounian characterized the postponement as a “temporary blip” and positioned the market reaction as an attractive buying opportunity.
Reaching $671 would translate to nearly 90% appreciation from present trading levels.
BMO Capital’s top-rated analyst Brian Pitz maintained his conviction as well. He kept his Buy stance while increasing his price objective to $455 from $435, referencing upgraded Google Cloud projections for Q4 and full-year FY2027, up 2% and 13% respectively. Pitz highlighted expanding infrastructure capacity and sustained cloud adoption as drivers behind his revised outlook.
The average analyst price target stands at $437.79, suggesting approximately 26% upside potential from Friday’s closing level. One optimistic forecast of $515 indicates possible gains of 45%.
Market-Wide Tech Sector Pressure and Berkshire’s Entry
Friday’s weakness extended beyond Alphabet alone. Technology stocks broadly retreated, with AI-focused companies experiencing the sharpest declines. META decreased 3.19%, MSFT fell 2.14%, and NVDA declined 1.17%. GOOGL’s more pronounced drop suggests the Gemini news provided additional downward momentum.
Warren Buffett, now operating alongside successor Greg Abel, disclosed that Berkshire Hathaway established an Alphabet position via a $10 billion private placement. Buffett identified artificial intelligence infrastructure spending as a primary risk factor — Alphabet’s capital expenditures reduced free cash flow by 46.63% year-over-year in Q1.
Friday’s trading volume registered 10.79 million shares, significantly below the three-month daily average of 34.05 million.
Despite the session’s decline, GOOGL maintains an 11.11% gain year-to-date and has appreciated 91.54% over the trailing twelve months.
Among 64 analysts covering the stock: 14 rate Strong Buy, 43 rate Buy, 7 rate Hold, with zero Sell recommendations.
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Key Highlights
LASE stock plummets 21.43% following $2.5M capital raise via warrant exercise.
Company obtains $2.5 million to bolster working capital and operational funding.
Issuance of new Series A-7 and A-8 warrants creates additional financing flexibility.
Transaction scheduled to finalize on July 20, 2026.
Laser Photonics maintains focus on industrial and defense laser technology sectors.
Shares of Laser Photonics Corporation (LASE) experienced a significant downturn, declining 21.43% to close at $0.9114 following intense selling pressure throughout the trading day. The stock showed minimal recovery and finished near its session lows. This sharp decline followed the company’s disclosure of warrant exercise agreements projected to generate roughly $2.5 million in gross capital.
Laser Photonics Corporation, LASE
Company secures immediate capital through warrant conversion
Laser Photonics finalized binding agreements for the prompt exercise of existing warrants representing 2,528,572 shares of common stock. These warrants were initially distributed in April 2026 with a strike price of $0.975 per share. The transaction is projected to yield approximately $2.5 million in gross capital, prior to deducting placement fees and transaction costs.
The shares being distributed through these exercised warrants are already registered via an active Form S-1 registration statement. H.C. Wainwright & Co. acts as the sole placement agent for this capital raise. The deal is anticipated to reach completion on July 20, 2026, pending standard closing requirements.
The company intends to allocate the net funds toward working capital requirements and general operational needs. Consequently, this infusion strengthens the company’s financial position and provides enhanced liquidity. The financing disclosure coincided with substantial downward pressure on the company’s stock price during trading.
Additional warrant issuance creates future funding pathways
The company plans to distribute new unregistered Series A-7 warrants for up to 800,000 shares of common stock. Additionally, it will issue Series A-8 warrants for up to 4,257,144 shares of common stock. Both warrant categories feature an exercise price of $0.975 per share and become immediately exercisable upon distribution.
The Series A-7 warrants are set to expire five years following the effectiveness of the resale registration statement. Meanwhile, the Series A-8 warrants will expire twenty-four months after that registration becomes effective. This dual-structure approach provides warrant holders with varying timeframes for exercise while maintaining consistent pricing.
These newly issued warrants were distributed via private placement utilizing applicable Securities Act exemptions. The securities have not been registered under the Securities Act of 1933. The company has committed to filing a resale registration statement to cover shares that may be issued upon subsequent warrant exercises.
Core business centered on laser technology for industrial and defense markets
Laser Photonics specializes in developing advanced laser systems designed for industrial and defense purposes across diverse market segments. The company’s technology facilitates cleaning operations, surface treatment, and precise material processing in challenging operational settings. Furthermore, the organization caters to clients in defense, aerospace, energy, maritime, automotive, and advanced manufacturing industries.
The company actively pursues expansion of its technology offerings through research and development, strategic acquisitions, and collaborative partnerships. These initiatives focus on applications demanding enhanced performance, superior operational efficiency, and environmental sustainability. Consequently, Laser Photonics continues to pursue expanded commercial penetration across numerous industrial verticals.
Despite these ongoing business development efforts, the financing disclosure triggered a substantial selloff in the company’s shares. The stock closed at $0.9114 following a 21.43% decline during the session. While the warrant exercise delivers immediate operating capital, it also introduces additional warrant securities that could potentially dilute existing shareholders if exercised in the future.
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Key Takeaways
HOOD shares declined approximately 5% Friday without specific company news catalyzing the selloff
ARK Invest divested more than $7 million in HOOD holdings through two distinct transactions
The Nasdaq index declined over 1%, creating headwinds for high-beta fintech stocks
Goldman Sachs elevated its price target to $137; Piper Sandler maintains a Buy rating at $135
Q2 2026 results scheduled for July 29, with consensus forecasts of $0.41 EPS and $1.21B revenue
Robinhood Markets (HOOD) shares declined approximately 5% during Friday’s trading session, settling around $100.82, without any quarterly report or significant company-specific catalyst triggering the decline.
The decline appears to reflect portfolio rebalancing rather than a fundamental deterioration in the company’s outlook.
The most significant identifiable catalyst came from ARK Invest, which reduced its HOOD exposure through multiple transactions. ARK divested roughly $3.2 million in HOOD shares in one trade and separately offloaded 33,466 shares from its ARKK ETF worth approximately $3.9 million.
ARK regularly rebalances positions to maintain individual holdings below 10% of fund assets. However, continued selling from a prominent institutional investor typically pressures sentiment irrespective of the underlying rationale.
Broader market dynamics compounded the pressure. The Nasdaq declined more than 1% during the session, creating unfavorable conditions for high-beta fintech equities. The S&P 500 also registered modest losses, signaling a cautious market tone.
HOOD had been trading 17.6% above its 20-day moving average and more than 30% above its 50-day moving average prior to Friday’s selloff. Such extended positioning often precedes sharper corrections when buying momentum dissipates.
Analyst Price Targets Stay Elevated
Notwithstanding Friday’s weakness, Wall Street’s outlook on HOOD remains constructive. Goldman Sachs reaffirmed its Buy rating this week while increasing its price objective to $137. Piper Sandler’s Patrick Moley similarly maintained a Buy stance with a $135 target.
The average price target among 27 analysts stands at $119.41, representing meaningful upside from current trading levels.
Asset-Backed Securities and Credit Card Expansion
In separate developments, Bloomberg reported this week that Robinhood intends to issue at least $400 million in asset-backed securities, with the possibility of reaching $500 million. The instruments would be collateralized by consumer credit card receivables.
Robinhood introduced a $695 platinum-plated card in March, building on its zero-fee Gold Card launched two years earlier. The ABS offering represents part of a strategic diversification beyond traditional brokerage operations.
From a technical perspective, HOOD is currently hovering near its 200-day moving average at $101.73. The stock traded below this threshold on an intraday basis, which technical analysts suggest could dampen near-term bullish sentiment.
Critical support resides at $93. Overhead resistance is positioned at $112.50.
Q2 2026 earnings are slated for release on July 29. Analysts are projecting earnings per share of $0.41 and quarterly revenue of $1.21 billion.
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Key Takeaways
Synopsys shares declined as much as 11.7% Friday during a widespread selloff across semiconductor stocks
Major indices tumbled with the Nasdaq falling 2.22% and the S&P 500 declining 0.96%
The company announced it will phase out legacy process control software products to concentrate on high-margin AI-focused design solutions
Benchmark’s new Buy rating with a $570 price target announced Thursday failed to prevent Friday’s steep decline
Technical indicators show RSI at 22.49, indicating deeply oversold conditions as SNPS trades significantly below key moving averages
Shares of Synopsys (SNPS) plummeted as much as 11.7% during Friday’s trading session, settling around 5.62% lower at $393.60 as of publication time, swept up in a sweeping selloff across semiconductor stocks despite the absence of negative company-specific catalysts.
Broader market conditions weighed heavily on equities, with the Nasdaq Composite sliding 2.22% and the S&P 500 dropping 0.96%. Market participants moved away from heavily concentrated AI and technology positions as risk sentiment deteriorated.
Adding to investor concerns, a Reuters article published July 7 revealed that Synopsys had informed over a dozen major semiconductor manufacturers—including Samsung Electronics, SK Hynix, Kioxia Holdings, and Qorvo—about its decision to discontinue a portfolio of manufacturing process control software products, according to six informed sources.
These software solutions provide monitoring capabilities and anomaly detection during semiconductor manufacturing processes. Synopsys acknowledged the decision to sunset certain legacy product lines, explaining the move will enable resource reallocation toward more profitable offerings, particularly AI-driven design tools.
The strategic pivot represents a calculated business decision rather than a sign of financial distress. The company’s “end of life” roadmap ensures continued support for existing maintenance commitments, with only future development of discontinued products being halted.
Positive Analyst Initiation Fails to Stem Selling Pressure
Notwithstanding the challenging market environment, Wall Street analysts maintained an optimistic outlook. Benchmark launched coverage on Synopsys Thursday with a Buy recommendation and established a $570 price target—suggesting substantial appreciation potential from present levels.
However, during risk-averse trading sessions, even favorable analyst ratings struggle to influence market direction. Investors broadly reduced positions across AI-concentrated stocks, with SNPS caught in the downdraft.
For the year-to-date period, SNPS has declined 11.22%, lagging behind the wider technology sector as summer approaches.
The electronic design automation provider carries a market capitalization of $81.43 billion. Typical daily trading volume approximates 1.88 million shares, while current technical sentiment indicators flash a Sell signal.
Technical Analysis Signals Severely Oversold Conditions
The price chart presents a concerning technical picture. SNPS currently trades 13.2% beneath its 20-day simple moving average, 18.7% under its 50-day SMA, and approximately 15% below both its 100-day and 200-day SMAs.
The Relative Strength Index registers 22.49—firmly in oversold territory following a precipitous July decline.
Immediate resistance emerges near $442, aligning with the 20-day SMA at $441.30—a threshold where prior recovery attempts have faltered. Regarding downside levels, $379.50 represents the nearest support zone to monitor, positioned just above the 52-week low boundary of $376.18.
Elevated semiconductor production costs stemming from TSMC’s revised capital expenditure forecasts, combined with persistent Middle East geopolitical uncertainties, compounded selling pressure during the session.
SNPS concluded Friday’s trading with RSI at 22.49 and the stock hovering near its 52-week lows.
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Key Highlights
CDNS shares declined approximately 10.1% during Friday’s session, starting at $334.56 and settling near $327.25 after Thursday’s close of $364.65
Benchmark analysts initiated coverage with a “Strong Buy” recommendation and established a $450 price objective earlier in the week
First quarter earnings per share reached $1.96, exceeding analyst expectations of $1.91; quarterly revenue hit $1.47B, marking an 18.6% year-over-year increase
Full-year 2026 EPS forecast established at $7.85–$7.95 range; second quarter 2026 projected between $2.02–$2.08
Company insiders divested more than 157,000 shares valued above $60M during the previous quarter, with CEO Anirudh Devgan among the sellers
Shares of Cadence Design Systems (CDNS) experienced a significant downturn on Friday, declining approximately 10.1% to conclude trading near $327.25 following the previous day’s closing price of $364.65. The opening bell saw shares priced at $334.56 with trading volume exceeding 547,000 shares.
The substantial price decline occurred mere days following Benchmark’s initiation of coverage with a “Strong Buy” designation and a $450 price objective on Wednesday — representing the most optimistic target among current analyst coverage.
The broader analyst community maintains an optimistic outlook on CDNS. The stock holds a “Moderate Buy” consensus rating with an average price objective of $393.65, derived from 17 analyst assessments — including one Strong Buy, thirteen Buy ratings, and three Hold recommendations.
Additional recent analyst actions feature Wells Fargo elevating its price target from $400 to $425 while maintaining an “Overweight” stance in May, KeyCorp adjusting its target upward from $405 to $425, and Berenberg Bank establishing a $440 objective. Stifel similarly increased its target from $395 to $432.
Notwithstanding Friday’s selloff, shares continue trading above the 200-day moving average of $328.56, although they’ve dipped beneath the 50-day moving average of $376.74.
First Quarter Results Exceed Projections, Forward Outlook Maintained
Cadence delivered first quarter earnings per share of $1.96, surpassing the consensus estimate of $1.91 by $0.05. Quarterly revenue totaled $1.47 billion, marginally exceeding the $1.46 billion projection, representing an 18.6% increase compared to the prior year period.
Management provided fiscal year 2026 EPS guidance ranging from $7.85 to $7.95, with second quarter 2026 EPS anticipated between $2.02 and $2.08. The analyst community’s average full-year EPS forecast stands at $6.23.
The company reported a net margin of 21.18% alongside a return on equity of 28.44% for the quarter.
Notable Insider Divestment Activity
Insider transactions have garnered attention recently. Chief Executive Officer Anirudh Devgan divested 25,005 shares on June 2nd at an average transaction price of $415.00, generating proceeds of $10.38 million. This sale represented an 8.98% decrease in his ownership stake.
Board member Ita Brennan sold 180 shares on June 10th at $387.45 per share, while Vice President Paul Cunningham divested 2,000 shares on June 15th at $391.00 each.
Cumulatively, company insiders sold 157,057 shares valued in excess of $60.27 million over the past 90-day period. All divestment transactions were conducted pursuant to pre-established Rule 10b5-1 trading arrangements. Current insider ownership represents just 0.49% of outstanding shares.
Institutional stakeholders control 84.85% of CDNS shares. Recent institutional purchasers include Handelsbanken Fonder AB, which expanded its position by 30.9% during Q2, acquiring 41,693 additional shares valued at approximately $66.3 million.
The equity trades within a 52-week range spanning $262.75 to $416.69 and commands a market capitalization of roughly $90.39 billion at Friday’s reduced valuation levels. The price-to-earnings ratio currently stands at 76.44.
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Quick Summary
Federal court in Argentina freezes 25 cryptocurrency wallets connected to $LIBRA investigation.
Exchanges ordered to provide KYC documentation for wallets involved in $LIBRA transactions.
Law enforcement tracked $LIBRA assets across Tron network and multiple platforms.
Investigation includes wallets associated with Binance, Bybit, OKX, and Bitfinex.
Authorities expand investigation after following millions in cryptocurrency transfers.
A federal court in Argentina has mandated the identification of individuals controlling 25 cryptocurrency wallets in connection with the ongoing $LIBRA investigation. The judicial order also requires cryptocurrency exchanges to submit customer documentation and freezes all assets associated with the specified wallets. The investigation has widened significantly as law enforcement traced millions of dollars moving through various blockchain networks.
Court mandates wallet holder identification and freezes digital assets
Judge Marcelo Martínez de Giorgi of the Federal Court issued the recent order following analysis of a cybercrime investigation report compiled by Argentina’s Federal Police. The document detailed cryptocurrency transfers associated with the $LIBRA token beginning in May. Law enforcement officials traced transactions through numerous blockchain networks to pinpoint individuals responsible for the fund movements.
Cryptocurrency exchanges must now submit customer identification data, Know Your Customer documentation, IP address logs, complete transaction records, and associated account details. Law enforcement also demanded any supplementary documentation that might reveal the identities of persons linked to the monitored transactions. The Argentine investigation has thus pivoted toward evidence gathering from centralized cryptocurrency trading platforms.
The judicial order specifies 25 digital wallets suspected of processing funds retained by project founders following the disastrous February 2025 token launch. The judge additionally mandated asset freezes on all wallets under investigation. Nevertheless, officials have not disclosed whether the targeted wallets currently hold the tracked cryptocurrency.
Law enforcement maps cryptocurrency flows through trading platforms
The Federal Police report detailed activities involving eight digital wallets designated as belonging to the Libra Team. Investigators established connections between these wallets and the token’s genesis along with subsequent fund transfers after the market crash. Evidence revealed four wallets channeling assets into a single consolidated wallet designated as 61yk.
Law enforcement discovered that wallet 61yk had been immobilized for nearly six months pursuant to an order issued by the U.S. District Court. This restriction stemmed from unrelated legal proceedings involving token creator Hayden Davis. Once the freeze lifted, investigators documented fresh transfers originating from the wallet across several blockchain ecosystems.
According to the investigative report, cryptocurrency moved using a technique resembling digital smurfing that fragments large balances into numerous smaller transactions. Law enforcement monitored a transfer of 498,539 USDT routed through a cross-chain bridge protocol onto the Tron blockchain. The destination wallet subsequently divided this sum into 17 distinct transactions distributed across various endpoints.
Expanded investigation provides context to $LIBRA controversy
During the most recent blockchain analysis, investigators documented no fewer than ten transactions processed through Binance. They also identified eight wallets with Bybit connections, two linked to OKX, and two associated with Bitfinex. Since centralized cryptocurrency platforms typically mandate identity verification, the Argentine court anticipates these records will substantially advance the investigation.
Cryptocurrency analyst Fernando Molina had previously monitored fund movements associated with the project. His research calculated approximately $8.2 million remained dormant before reactivating in May. These wallets have subsequently become central to the expanding Argentine judicial inquiry.
The $LIBRA token attracted widespread attention after Argentine President Javier Milei endorsed the project through social media posts prior to its dramatic collapse. Officials have maintained scrutiny of financial flows tied to the token since that incident. Separately, reports suggest the remaining cryptocurrency is administered through a trust structure established by Hayden Davis intended to fund grant applications from Argentine businesses as part of efforts to resurrect the project.

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Key Takeaways
Michael Burry identifies Hong Kong as an attractive market for finding undervalued stocks
The Hang Seng Index has declined approximately 5% year-to-date as AI-focused markets rally globally
Major tech names show steep losses: Alibaba down 25%, Tencent down 26%, Baidu down 14%, NetEase down 11%
Scion Asset Management has recently expanded its position in JD.com
By comparison, South Korea’s market has surged 58% and semiconductor ETFs have climbed 76% in 2026
Michael Burry, the legendary investor who famously forecast the 2008 financial crisis, has identified a new investment thesis: Hong Kong’s battered technology sector.
Michael Burry said he thinks its worth trying to go "bargain hunting" in Hong Kong’s stock market after it lagged peers during the global AI rally this year
“It is a particularly good time to look to Hong Kong for cheap stocks that should do well as the shine comes off Korea,…
— Evan (@StockMKTNewz) July 17, 2026
In a recent post on X, Burry stated that “it is a particularly good time to look to Hong Kong for cheap stocks.” He suggested these equities “should do well as the shine comes off Korea, Japan & the Soxx.”
This perspective emerged shortly after Burry cautioned investors that “the end is nigh” for the artificial intelligence trading boom.
The Divergence Between Hong Kong and Global Markets
The Hang Seng Index has recorded a decline of roughly 4.9% since the beginning of the year. Tepid consumer demand and decelerating expansion in China’s online retail industry have pressured valuations.
This performance creates a striking divergence from international markets benefiting from artificial intelligence enthusiasm. South Korea’s primary stock index has climbed 58% year-to-date, propelled by strong performance from Samsung Electronics and SK Hynix.
Japan’s Nikkei 225 has posted gains of approximately 24% since January 2026. The iShares Semiconductor ETF has rocketed higher by roughly 76%.
Conversely, prominent Hong Kong-traded technology companies have experienced significant declines.
Alibaba’s stock price has decreased about 25% this year. Tencent shares have dropped 26%, Baidu has declined 14%, and NetEase has shed approximately 11%.
Scion Asset Management Adds to JD.com Holdings
Burry has backed his thesis with action. This month, Scion Asset Management expanded its holdings in JD.com, a major Chinese e-commerce platform with Hong Kong listings.
JD.com shares have similarly faced downward pressure alongside comparable companies in the sector.
Burry’s investment thesis centers on the valuation disconnect created between artificial intelligence market leaders and Hong Kong technology firms. As capital flooded into semiconductor and AI-related equities, numerous Chinese tech enterprises found themselves trading at depressed multiples.
His perspective finds support from other institutional voices. Morgan Stanley recently advised clients to build positions in Hong Kong equities, pointing to anticipated improvements in corporate profitability.
Additional significant constituents of the Hang Seng’s technology segment include Lenovo, which has similarly lagged behind global AI-beneficiary stocks throughout 2026.
Burry’s investment case rests on the premise that capital allocation will eventually shift from elevated AI market valuations toward more attractively priced, neglected opportunities.
Whether such sector rotation materializes remains uncertain, though the valuation disparity between Hong Kong tech companies and AI-linked equities is substantial and well-established.
As of July 17, 2026, the Hang Seng’s technology leaders remain significantly discounted relative to their international competitors.
The post Michael Burry Targets Hong Kong Tech Giants After Historic Market Divergence appeared first on Blockonomi.

Key Takeaways
Amazon Web Services senior vice president Dave Brown is departing after almost 19 years to join Meta Platforms within weeks.
Brown’s new role involves reporting to infrastructure chief Santosh Janardhan with emphasis on expanding data center operations.
Mark Zuckerberg indicated at May’s shareholder gathering that cloud computing services remain under serious consideration.
Meta has allocated between $125 billion and $145 billion for capital spending this year, predominantly for artificial intelligence data centers.
This recruitment aligns with Meta’s expansive “Meta Compute” strategy, aiming for hundreds of gigawatts in computing power.
Shares of Meta Platforms (META) declined 5.40% following reports that the social media giant has successfully recruited another top-tier infrastructure executive from Amazon’s ranks.
Dave Brown, who serves as senior vice president at Amazon Web Services (AWS) and holds membership on Amazon’s prestigious S-team, will depart the e-commerce giant at July’s end after spending nearly two decades with the organization. His transition to Meta is expected in the upcoming weeks.
Reporting directly to Santosh Janardhan, Meta’s infrastructure leader, Brown will concentrate on accelerating the company’s data center construction initiatives. AWS head Matt Garman announced Brown’s exit through an internal communication Wednesday, though he stopped short of identifying the executive’s future employer.
Meta has chosen not to provide official comment.
This strategic appointment arrives as Meta escalates its cloud computing aspirations. During the corporation’s May annual shareholder assembly, CEO Mark Zuckerberg declared that establishing a cloud services division remains “definitely on the table.”
Zuckerberg revealed that enterprises were contacting Meta “almost every week” expressing interest in accessing its artificial intelligence models or paying premium rates for unused computing resources.
“We haven’t pursued that yet because we believe we have internal use for the compute, but clearly if we reach a point where we determine we have excess capacity, then that becomes a viable option for us,” Zuckerberg explained.
Understanding Meta Compute: The Strategic Vision Driving Recruitment
This past January saw Zuckerberg unveil an executive-level program dubbed Meta Compute, designed to construct hundreds of gigawatts of computational capability over the long term.
Janardhan leads this initiative alongside Daniel Gross, who came aboard Meta in 2025. Dina Powell McCormick, appointed as president and vice chairman in January, concentrates on establishing governmental partnerships to develop data centers internationally.
Meta has additionally brought on board two former OpenAI infrastructure leaders as components of this identical push.
Brown represents the most recent addition to a series of prominent infrastructure appointments as Meta seeks to fast-track AI advancement and secure computational capacity on a massive scale.
Massive Financial Commitment Backs Infrastructure Plans
Meta has pledged to allocate between $125 billion and $145 billion toward capital expenditures throughout 2025, with substantial portions earmarked for AI-focused data centers.
This spending magnitude positions Meta alongside Amazon and Microsoft as among the world’s largest investors in artificial intelligence infrastructure.
For perspective, AWS produced $37.6 billion in quarterly revenue during Q1 2026, representing 28% year-over-year growth — the very division Brown is departing.
Brown’s nearly twenty-year career at AWS encompassed supervision of critical operational areas within the cloud division, establishing him as among the technology sector’s most seasoned infrastructure leaders.
Earlier this month, Meta was reportedly developing a cloud services business designed to monetize surplus computing capacity — a strategic move directly targeting the enterprise cloud marketplace that AWS presently commands.
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Key Takeaways
Chief Legal Officer Mark Brazeal offloaded 50,000 shares worth approximately $19.5 million on July 8 and 10.
The transactions followed Apple’s announcement of a $30 billion long-term partnership with Broadcom for custom chip development.
Shares have declined over 20% from recent highs, trading near levels last seen in November 2025.
Erste Group downgraded the stock to Hold, pointing to a stretched valuation around 65x earnings.
Morgan Stanley maintains its optimistic outlook, positioning Broadcom as a “core AI winner” while dismissing concerns about MediaTek rivalry.
A top executive at Broadcom (AVGO) recently liquidated nearly $20 million in company shares, coinciding with a temporary rally sparked by a significant Apple partnership announcement.
Mark Brazeal, the company’s chief legal officer, executed two separate transactions on July 8 and 10, divesting 50,000 shares at prices between $379.06 and $401.47 each. The combined value of these sales reached roughly $19.5 million. Following these dispositions, Brazeal’s direct holdings stand at 194,989 shares, predominantly consisting of restricted stock units (RSUs). With 123,750 RSUs in his portfolio, full vesting would yield approximately $46.3 million at Thursday’s closing price of $374.45.
The transaction timing drew attention. AVGO shares had slipped below $360 early in July, reaching a monthly trough. Then Apple revealed on July 8 a multiyear $30 billion expansion of its collaboration with Broadcom focused on custom silicon development — marking the tech giant’s most substantial commitment under its American Manufacturing Program. Shares surged in response. Brazeal capitalized on this momentum.
The partnership will support expansion efforts at Broadcom’s Colorado manufacturing facility and is projected to yield over 15 billion domestically-produced chips.
Valuation Headwinds Emerge
Despite positive news from the Apple partnership, AVGO has found it difficult to sustain momentum. Shares have retreated more than 20% from their recent record and currently trade at approximately the same levels as November 2025 — this despite the company’s continued strong financial performance.
This underwhelming price action led Erste Group to revise its rating from Buy to Hold in recent days. The rationale was clear: trading at roughly 65 times earnings, the stock already incorporates considerable optimism. For context, Nvidia commands approximately 32 times earnings.
While Erste Group recognized that Broadcom’s profit margins should remain robust, analysts concluded that upside potential is constrained at present valuations. When expectations are elevated, even solid results may fail to drive meaningful appreciation.
Additional concerns center on competitive pressure from Taiwan-based MediaTek, which could potentially encroach on Broadcom’s relationships with major cloud infrastructure customers.
Morgan Stanley Holds the Line
Not all analysts are retreating. Morgan Stanley reaffirmed its positive outlook, characterizing Broadcom as a “core AI winner.” The firm dismissed MediaTek threat narratives, projecting that Broadcom will maintain its dominant supplier status with clients including Alphabet’s Google.
Morgan Stanley attributed recent share weakness partially to investor rotation toward what it termed “growthier” AI semiconductor stocks, rather than any fundamental weakening in Broadcom’s business model.
Broadcom’s AI-related revenue is expanding at a faster pace than overall revenue. The company has secured strategic partnerships with Apple, Alphabet, and Amazon, establishing a commanding position in the custom silicon segment where Nvidia does not directly compete.
Wall Street consensus rates Broadcom as a Moderate Buy, with an average price target of $493.24 — substantially above current trading levels.
As of July 17, Erste Group’s downgrade represents the most recent analyst action on the stock.
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Key Takeaways
Q2 adjusted EPS reached $6.38, significantly exceeding the analyst consensus of $4.91
Quarterly revenue totaled $112 billion, surpassing Wall Street’s $110.8 billion projection
Medical-cost ratio improved to 86.7% from 89.4% in the prior-year quarter
Company increased full-year adjusted EPS forecast to $19.50–$20.00 from previous low of $18.25
Baird shifted rating from Sell to Hold, boosting price target from $287 to $453
UnitedHealth (UNH) shares experienced a powerful rally, climbing approximately 8% on Thursday following the release of second-quarter results that significantly exceeded analyst projections. The healthcare giant reported adjusted earnings of $6.38 per share, dramatically outpacing the Street’s $4.91 estimate. Quarterly revenue reached $112 billion, comfortably above the anticipated $110.8 billion.
The shares had already gained roughly 27% year-to-date before the earnings announcement. This latest report delivered exactly what Wall Street was seeking: consecutive quarters demonstrating effective medical cost management.
Investors focused primarily on the medical-cost ratio, which registered 86.7%—a meaningful decline from last year’s 89.4% and considerably better than the Street’s 88.4% forecast. This lower ratio indicates the insurer retained a larger portion of collected premiums.
Executives attributed the enhanced performance to “product design changes, improved medical management, and better aligned pricing” initiatives.
The company also upgraded its full-year adjusted EPS projection to $19.50–$20.00, representing a substantial increase from the prior minimum of $18.25. Consensus estimates had called for $18.49.
Broader Industry Momentum
The positive sentiment extended beyond UnitedHealth. Humana (HUM) and CVS Health—parent of Aetna—both gained approximately 1% in early trading. These companies share exposure to Medicare Advantage programs, which have faced margin pressure from rising medical expenses.
UnitedHealth has strategically reduced its Medicare Advantage footprint to safeguard profitability. The insurer now anticipates full-year MA enrollment will decline by approximately 1.1 million members.
Tim Noel, CEO of UnitedHealthcare, explained during the earnings call that Medicare cost trends remain “well above historical levels, but below our expectations so far in 2026.” He attributed this to benefit restructuring and enhanced care management approaches.
Raymond James analyst John Ransom characterized the results as “a strong 2Q” that was “widely expected” and noted it “should be good enough to keep the rally going.”
Wells Fargo’s Stephen Baxter observed that “UNH’s momentum exiting 2Q26 appears quite strong.”
Analyst Upgrade Reflects Near-Term Optimism
On Friday, UNH continued its ascent with another 3% gain after Baird analyst Michael Ha raised his rating to Hold from Sell, simultaneously increasing his price objective to $453 from $287. Ha cited strengthening conviction in near-term MA margin expansion and moderating healthcare expense trends.
His examination of sector data indicates MA utilization has softened in recent periods, reflecting “flatter provider coding intensity growth.” Should this pattern persist, MA margins could strengthen heading into 2027.
Despite the upgrade, Ha maintains reservations about Optum Health’s capacity to achieve its long-range 6%–8% margin objective, particularly given potential challenges from anticipated MA risk model adjustments in early 2027.
He also highlighted concerns surrounding Optum Insight, pointing to margin inconsistency, limited backlog transparency, and uncertainty regarding customer retention rates.
The Street maintains a Strong Buy consensus rating on UNH, supported by 19 Buy recommendations and four Hold ratings. The average analyst price target stands at $450.91, suggesting roughly 4% potential upside from present levels.
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Key Highlights
Databricks completed a term sheet agreement for a $3 billion strategic investment led by Coatue
The funding values the company at $188 billion, representing a 40% increase from its $134 billion valuation in February 2026
The valuation exceeds Databricks’ initial $175 billion target for the round
Proceeds will fund development of Unity AI Gateway, Genie, and Lakebase
The company’s AI-focused products generated a $1.7 billion annualized revenue run rate as of June, rising from $1 billion in September
Databricks has finalized terms for a massive $3 billion investment round, catapulting its valuation to $188 billion. The figure represents a substantial 40% increase over the $134 billion valuation established just five months earlier in February 2026.
We're raising funding at $188 billion valuation to double down on our AI strategy focused on three priorities:
1️⃣ Unity AI Gateway – our multi-AI governance solution that helps control costs.
2️⃣ Genie – our AI coworkers that actually understand your business data.
3️⃣ Lakebase -… pic.twitter.com/2naiM60pXC
— Ali Ghodsi (@alighodsi) July 17, 2026
Coatue, which already holds a stake in the company, is spearheading the investment, with participation from both new and existing backers. The transaction is anticipated to reach completion during the summer months.
The fundraising effort stands out because Databricks initially pursued a valuation of $175 billion. The company managed to exceed this benchmark before finalizing the deal terms.
Databricks’ previous significant capital infusion came through a Series L financing round worth approximately $5 billion, which established the $134 billion valuation. This latest investment elevates the company into an exclusive tier of highly valued private technology enterprises.
Strategic Investment Priorities
Databricks has identified three primary initiatives for deploying the newly raised capital.
The first priority is Unity AI Gateway, a comprehensive multi-AI governance platform designed to help enterprise clients regulate and oversee their AI model usage and associated expenditures.
The second focus area is Genie, an AI assistant product that extracts insights and executes tasks using a company’s proprietary business intelligence. It functions as an advanced internal search capability with actionable intelligence.
The third initiative is Lakebase, a serverless PostgreSQL database engineered specifically to power AI agents and AI-driven software applications.
CEO Ali Ghodsi articulated the shift clearly: businesses have moved beyond AI experimentation and now demand measurable financial returns. “They don’t want to burn expensive tokens on the smartest model for every task — they want the best outcome per dollar,” he stated.
Strong Revenue Performance Fuels Investor Interest
The substantial fundraise follows impressive financial performance metrics.
According to Ghodsi, revenue from AI-specific products reached an annualized run rate of $1.7 billion in June 2026, representing significant growth from the $1 billion figure recorded in September 2025. The acceleration occurred over a nine-month period.
The company’s total annual recurring revenue reached $5.4 billion by February 2026.
These performance metrics provide investors with tangible evidence of growth. The investment represents more than speculative positioning — it’s backed by demonstrable revenue acceleration.
Databricks faces competition from Snowflake in the enterprise data infrastructure and artificial intelligence market, and the valuation differential between the two companies in private markets continues to expand.
The company also indicated that a portion of the fresh capital will support strategic AI acquisitions and expanded artificial intelligence research initiatives, suggesting additional strategic actions may be forthcoming.
Databricks continues to operate as a private entity and has not disclosed any timeline regarding an initial public offering, despite persistent market speculation. The company has declined to comment on potential plans or timing for a public market debut.
The $3 billion financing round is scheduled to officially close later during the summer months.
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