hang

Changxin Technology (688825.SH) announced that the company will conduct its initial public offering and list on the Sci-Tech Innovation Board, with an issue price of 8.66 yuan per share. Investors are requested to subscribe online and offline at this price on July 16, 2026 (T day), with no need to pay subscription funds at the time of application.Among them, the offline subscription time is from 9:30 to 15:00, and the online subscription time is from 9:30 to 11:30 and 13:00 to 15:00. The total number of initial shares issued is 66,880,886.08 shares, accounting for approximately 10.00% of the total share capital after issuance, and granting CICC an over-allotment option not exceeding 15.00% of the initial shares issued.The price corresponds to a diluted price-to-earnings ratio of 308.92 times for 2025, based on the lower of pre- and post-deduction earnings (without exercising the over-allotment option), which is higher than the industry average price-to-earnings ratio of 76.32 times and the average price-to-earnings ratio of comparable companies of 134.62 times. The total amount of funds raised is expected to be approximately 57.919 billion yuan (before the exercise of the over-allotment option), with a net amount of approximately 57.638 billion yuan after deducting issuance expenses.

According to monitoring by Catcher Predict, in the event of the "Federal Reserve's July decision" on the prediction market Polymarket, the winning probability of the sub-market "No Change" option has experienced a sharp fluctuation, soaring from 61.5% an hour ago to the current 90.5% (a fluctuation of 29%). Please note the impact of related breaking news.

According to Jinshi reports, CME's "FedWatch" shows that the probability of the Federal Reserve keeping interest rates unchanged until July is 63.1%, while the probability of a cumulative increase of 25 basis points is 36.9%. By September, the probability of keeping interest rates unchanged is 28.3%, the probability of a cumulative increase of 25 basis points is 51.4%, and the probability of a cumulative increase of 50 basis points is 20.4%.

Z.AI Co., Ltd. announced on the Hong Kong Stock Exchange that its English name has been changed from Knowledge Atlas Technology Joint Stock Company Limited to Z.AI Co., Ltd.The company's Chinese name "北京智谱华章科技股份有限公司" will remain unchanged.

According to the latest ranking of stock derivatives exchanges released by RootData, Binance, Bitget, and OKX are in the top three. This list is based on comprehensive scoring of exchanges supporting stock derivatives trading, considering dimensions such as trading volume, open interest, spreads, depth, trading costs, and data collectability, among others:Binance scored 91.4, supports 130 contracts, with a position size of approximately $2.49 billion, a 24h trading volume of approximately $19.908 billion, and a funding rate of +0.004%.Bitget scored 90.4, supports 232 contracts, with a position size of approximately $826 million, a 24h trading volume of approximately $2.363 billion, and a funding rate of +0.0022%. OKX scored 90.3, supports 124 contracts, with a position size of approximately $480 million, a 24h trading volume of approximately $3.516 billion, and a funding rate of +0.001%.Compared to last week's ranking, Bitget and OKX have swapped places, with Bitget rising to second place and OKX dropping to third place.

Airbnb CEO Brian Chesky posted on X that he has been quietly observing the tokenization of real-world assets, stating that most of it is noise, but real things are happening beneath the noise, and he shared his observations in a long tweet. The post quoted user @StarPlatinum_ regarding comments on the Robinhood Chain, which pointed out that the long-term focus of Robinhood Chain is on the RWA track, and cited Robinhood CEO Vlad Tenev's statement from a week ago referring to meme coins as having no underlying utility assets.

According to CoinDesk, Binance.US CEO Stephen Gregory stated that the exchange is in a rebuilding phase after two years of regulatory setbacks, aiming to reclaim 20% of the U.S. cryptocurrency market share. Binance.US plans to attract customers back with ultra-low fees, new regulated products, and deeper liquidity.Over the past two years, Binance.US has been affected by multiple regulatory lawsuits and enforcement actions, leading to a significant decline in its market share in the U.S. The exchange was previously one of the largest cryptocurrency trading platforms in the U.S., once holding about 20% of the U.S. market share at its peak in 2022. The current management of Binance.US stated that the company will focus on compliant operations and launch a new product line that meets U.S. regulatory requirements to rebuild user trust. Binance.US is the independent operating entity of the Binance Group in the U.S., completely separate from the global Binance platform in terms of operations and legal entities.

According to Jinshi reports, CME's "FedWatch" shows that the probability of the Federal Reserve keeping interest rates unchanged in July is 58.3%, while the probability of a cumulative increase of 25 basis points is 41.7%. By September, the probability of keeping interest rates unchanged is 24.9%, the probability of a cumulative increase of 25 basis points is 51.2%, and the probability of a cumulative increase of 50 basis points is 23.9%.

According to the monitoring by the head of Galaxy Research, these token transfers consist of tokens confiscated from Ryan Farace ("xanaxman") and the closed cryptocurrency exchange BTC-e.

According to The Block, the Benchmark Report released by Borderless.xyz for Q2 2026 shows that the delivery quotes for stablecoin cross-border payments in each month of the second quarter were all below the interbank foreign exchange rate midpoint. Data covering 108 countries and 260 payment corridors indicates that the median "parity spread" for the quarter was -3.2 basis points, further widening to -5.9 basis points in June, marking the deepest negative value of the year.The report also shows that the typical delivery cost for a $10,000 cross-border payment in the second quarter was approximately $27, and it has remained around this level for five consecutive months. If companies only connect to a single service provider in the long term, they will pay an average of about $2,330 more compared to the optimal quote for every $1 million payment scale, known as the "routing tax."Regionally, the African market showed the most significant fluctuations, with the price point spread widening by 166 basis points to 512.8 basis points; Latin America compressed to 89.0 basis points, while Asia remained relatively stable at 6.1 basis points. In specific corridors, Malawi experienced a one-day repricing of 5.8% on April 9, with the typical spread jumping from about 296 basis points to 1975 basis points.

According to the latest disclosure from the U.S. Office of Government Ethics (OGE), Trump earned over $1.4 billion last year through his family-led cryptocurrency projects (including World Liberty Financial and Trump Meme Coin).According to an analysis by Reuters, by the end of 2025, the value of the traditional stock and bond portfolio held by Trump is expected to increase to between $703 million and $2.6 billion, a significant rise from the $225 million to $608 million range at the end of 2024.The report states that the proceeds from his cryptocurrency projects were subsequently allocated to traditional financial assets. In addition, data shows that as of April this year, retail investors participating in the four cryptocurrency projects supported by Trump have incurred cumulative losses of about $2.3 billion. The White House responded that Trump's related assets are managed by an independent third-party institution with full authority.

According to reports from Jiemian News, the prospectus shows that Changxin Technology has implemented a rare employee stock incentive plan in the semiconductor industry before its listing. The company launched two phases of employee stock ownership plans over four years, granting shares to a total of 6,760 individuals, accounting for 35% of the total number of employees, with a higher proportion of R&D and highly educated personnel. Chairman Zhu Yiming publicly promised to distribute the granted 768 million shares to current employees free of charge within ten years after the company has been listed for 36 months, and he personally committed not to reduce his holdings within ten years after the listing. This initiative aims to retain core talent and stimulate team motivation through a long-term interest-binding mechanism during the lengthy technology catch-up cycle.In terms of performance, benefiting from the AI-driven super cycle in the storage industry, Changxin Technology has achieved a strong turnaround and significant growth. The company expects to achieve revenue of 110 billion to 120 billion yuan in the first half of 2026, a year-on-year increase of more than six times; the net profit attributable to the parent company is expected to reach 50 billion to 57 billion yuan.Previous news: According to the official website of the Shanghai Stock Exchange, Chinese storage giant Changxin Technology disclosed its intention to list on the Sci-Tech Innovation Board and the "Issuance Arrangement and Preliminary Inquiry Announcement" on July 9, officially starting the IPO issuance process on the Sci-Tech Innovation Board. The announcement disclosed that the offline subscription date and online subscription date for the company's new shares are both set for July 16, 2026. The stock code for Changxin Technology/offline subscription code is "688825," and the online subscription code is "787825." This public offering plans to issue approximately 6.688 billion shares (before the exercise of the over-allotment option), while the issuer grants CICC an over-allotment option not exceeding 15.00% of the initial number of shares issued; if fully exercised, the total number of shares issued will increase to approximately 7.691 billion shares.

Bitget CEO Gracy Chen posted on the X platform, pointing out that the situation in the Middle East changed dramatically this weekend. As the traditional U.S. stock market closed and global traders sought outlets, Bitget's U.S. stock tokens (rToken) served as RWA assets supporting 24/7 trading, absorbing the overflow of trading demand. Data shows that the trading volume of rToken reached ten times that of the previous week, with an increase of about 2.2 times compared to the average of weekends in June; among them, rNVDA, rMU, and rGOOGL ranked in the top three for trading volume, and the weekend trading activity of VIP users on the platform was stronger than the average user.Gracy Chen emphasized that although the absolute trading volume of U.S. stock tokens over the weekend is still in its early stages, the moments of market volatility have highlighted the importance of 24/7 trading.

According to on-chain analyst Yu Jin's monitoring, the ETH/BTC exchange rate has recently rebounded from 0.02524 to 0.02855. A certain whale specializing in ETH/BTC exchange trading exchanged 13,708 ETH for 393.4 BTC half an hour ago, worth 25 million USD, shorting the ETH/BTC exchange rate, with a transaction rate of 0.02855.This whale is a coin-based trader; if the exchange rate falls, they can exchange back for more ETH. Over the past six months, through multiple exchange rate trades, they have increased their coin-based holdings by 6,475 ETH, worth 11.78 million USD.

According to CoinDesk, the stablecoin market experienced its largest correction in recent years in June, with a total market value decrease of $7.7 billion, marking the largest monthly decline since the Terra-Luna collapse in May 2022.Since the peak in May, the stablecoin market has shrunk by approximately $10 billion, with two major stablecoin issuers being the main driving factors behind this round of correction: the market value of USDT issued by Tether has dropped from about $190 billion in May to $184 billion, a decrease of about $6 billion; USDC issued by Circle has fallen from a high of nearly $80 billion in March 2026 to about $73 billion, shrinking by about $7 billion.However, compared to the cumulative decline of over 26% in the stablecoin market during the crypto winter of 2022, this round of adjustment is still relatively mild. Wall Street institutions remain optimistic about the long-term prospects of stablecoins, with Citigroup previously estimating that the global stablecoin market could reach $1.9 trillion under a baseline scenario by 2030, and could rise to $4 trillion under an optimistic scenario.

According to Digital Asset, the weekly trading volume of the top 5 cryptocurrency exchanges in South Korea has declined for 5 consecutive weeks. From July 3 to 10, the total weekly trading volume of the 5 exchanges was approximately 9.9676 trillion won, a decrease of 25.75% from the previous week's approximately 13.4 trillion won, marking the first time in nearly 2 years and 9 months that it has fallen below 10 trillion won since recording about 9.6 trillion won in the last week of September 2023.The report pointed out that the weekly trading volume of the top 5 exchanges has continued to weaken since June, with figures of 17.7 trillion won, 15.4 trillion won, 14.6 trillion won, and 13.4 trillion won respectively. Compared to the trading volume in the first week of June, the cumulative decline over the past month is approximately 43.5%.In terms of market share among exchanges, Upbit continues to rank first with 63.02%, but this is a decrease of 3.95 percentage points from the previous week; Bithumb rose to 29.51%, an increase of 2.38 percentage points; Coinone rose to 6.66%, an increase of 1.46 percentage points; Korbit and Gopax are at 0.78% and 0.03%, respectively.

According to official news, some users of the Phantom wallet are currently experiencing performance issues when using transfer and exchange functions. The team is investigating and addressing the issue and will provide timely updates on the progress.

Binance's official announcement shows that the total scale of stablecoins held by cryptocurrency exchanges has reached $93 billion, of which Binance holds approximately $53 billion, accounting for 57% of the market share, which is $42 billion higher than the stablecoin reserves of the second-ranked exchange platform.In addition, since the beginning of 2025, the stablecoin reserves of exchanges have cumulatively increased by 61%, adding approximately $35 billion, while Binance's market share has also risen from 54% to 57% during the same period.