financing

According to Bloomberg, SK Hynix is expected to issue American Depositary Receipts on Nasdaq on July 10. This listing plan aims to raise nearly $30 billion and is expected to become one of the largest ADR issuances in history. The market generally believes that this move will significantly expand its global investor base and may drive a revaluation.Several asset management companies expect that if its valuation aligns with Micron, there is a 30% upside potential for the stock price in the coming year. A fund manager pointed out that SK Hynix should at least trade at a valuation level comparable to Micron, as demand for memory chips may continue to exceed supply in the coming years. This listing occurs during a rare boom period in the memory chip industry. The stock prices of Micron, SK Hynix, and Samsung Electronics have all risen over 200% this year, marking the best annual performance in decades. The demand for HBM from AI servers is widely seen as a driving force behind a structural "memory supercycle."

AI company Mirendil announced the completion of a $200 million seed round financing, led by a16z and Kleiner Perkins, with participation from institutions like NVIDIA.The founding team consists of 20 researchers and engineers from leading institutions such as Anthropic, xAI, Google DeepMind, and OpenAI. a16z stated that Mirendil is building a system that can assist anyone in AI research and development, training models with expertise in cutting-edge AI research fields, and creating products around it to form a self-sustaining system that can autonomously address engineering problems and continuously advance without human intervention.

The predictive market analysis platform Polysights announced the completion of a $1.5 million financing round, with investors including YZi Labs S3, Maven 11 Capital, Varys Capital, Contribution Capital, and Edge Ventures.Polysights is building an automated and intelligent infrastructure for predictive markets. According to reports, Polysights is based on artificial intelligence technology and is aimed at individual traders and various institutions, enabling wallet-associated cluster screening, market anomaly detection, and the ability to analyze various trading strategies in predictive markets.

According to the Financial Times, the prediction market platform Kalshi is in talks with investors for a new round of financing, aiming for a valuation of approximately $40 billion, which could be completed as early as the third quarter of this year. Previously, Kalshi just completed a $1 billion financing last month, reaching a valuation of $22 billion, with investors including Coatue, Sequoia Capital, Andreessen Horowitz, and Morgan Stanley.Data shows that Kalshi's trading volume exceeded $17 billion last month, a significant increase from less than $5 billion a year ago, with about 65% of the trading volume coming from sports event-related prediction contracts.

On-chain yield infrastructure startup Ground announced the completion of a $3.6 million Pre-seed financing round, led by Bain Capital Crypto and ParaFi, with participation from Nascent, Robot Ventures, Chapter One, Consonant Ventures, and others.It is reported that Ground primarily provides APIs for fintech companies and asset management institutions, enabling them to integrate on-chain yield products into existing applications without the need to build blockchain integration themselves. Its target customers include fintech platforms, digital banks, wealth management institutions, exchanges, and asset management companies for building yield, savings, and investment products.

Blockchain data infrastructure startup Cambrian has completed a $6 million seed round financing, led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, Paper Ventures, Nomad Capital, and others.Cambrian also previously secured $5.9 million in pre-seed financing led by a16z Crypto Startup Accelerator, bringing the total funding to $11.9 million. It is reported that Cambrian was established in 2024 and currently provides APIs for institutions and AI Agents, covering real-time and historical on-chain data such as yield, risk, lending rates, trading activity, liquidity positions, and market sentiment, helping users allocate capital on-chain.The company plans to expand its existing APIs into a verifiable blockchain data oracle network, serving institutional financial clients, AI Agent builders, and protocols that need reliable data to control the flow of funds. Unlike traditional oracles that mainly provide price data, Cambrian aims to aggregate lending protocol data, DEX liquidity, social sentiment, developer activity, and historical market data.According to Cambrian, its platform has processed millions of API calls, currently indexing approximately $4.5 billion TVL across four major lending protocols, tracking 1,789 vaults under 895 curators, and monitoring over 320,000 DEX liquidity pools on Base and Solana. The company also plans to expand trading data support, adding Hyperliquid and richer perpetual contract data.

According to official news, the computing power market infrastructure company Ornn announced the completion of a $33 million seed round financing, led by a16z Crypto, with participation from Galaxy Ventures, Nordstar, and SV Angel, while Vine Ventures, Crucible Capital, Link Ventures, and Box Group continue to support.Ornn stated that a mature commodity market first requires reliable pricing data, which leads to price discovery, and price discovery then supports risk transfer, which in turn enables more efficient capacity allocation. The OCPI it launched is a transaction-based computing power index aimed at providing a unified and trustworthy price benchmark for settlement in the computing power market. Partners like ICE can promote risk transfer by directly referencing OCPI's futures and options contracts.Additionally, Ornn announced the launch of Ornn Compute, a physical capacity layer for the computing power market that can aggregate dedicated GPU capacity from multiple neoclouds onto a single platform, providing a unified access process, a secondary transfer market, and on-demand subleasing capabilities. Operators can obtain diversified demand from multiple tenants through a single underwriting contract, while buyers can view the sites, hardware configurations, and terms of the reserved clusters. This platform will make dedicated GPU capacity a liquid asset and allow previously idle capacity to be utilized.

According to Axios, the sports prediction market Onyx Odds has completed a $20 million financing round, led by Payward, the parent company of Kraken, with a post-financing valuation of $220 million.The company's CEO Leul Dadi stated that they are planning to expand into other trading products.

South Korean memory chip giant SK Hynix plans to raise up to 45 trillion won (approximately 29 billion USD) by issuing American Depositary Receipts (ADRs) in New York, with the related transaction set to start in July. If successful, this financing scale will surpass Alibaba's 25 billion USD IPO in 2014, becoming one of the largest overseas equity financing projects in the history of South Korean companies, and approaching historical records in the global capital market.According to the plan, SK Hynix will first issue shares in South Korea, then deposit the relevant shares into a South Korean securities depository as the underlying securities for the ADRs. South Korean regulators are expected to complete the review by July 3. The raised funds will primarily be used for the construction of the Yongin semiconductor cluster in South Korea and a factory in Indiana, USA, as well as the purchase of EUV extreme ultraviolet lithography equipment to support the expansion of advanced storage capacity related to AI. Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America have been selected as the lead underwriters.SK Hynix's confidence in this U.S. financing stems from its strong position in the AI industry chain. As a leading company in the global high bandwidth memory (HBM) sector, the company is a core supplier of AI accelerator chips for NVIDIA. Driven by AI demand, its stock price has increased by over 300% this year. CEO Lee Seok-hee stated that the company hopes to leverage the U.S. capital market to enhance its global influence and achieve a valuation level comparable to other AI hardware companies.

According to official news, the decentralized all-asset trading platform Vanta has completed a multi-million dollar seed round financing. This round of financing was led by the top TradFi platform Vantage and supported by several strategic investors, including the Co-Founder of Orderly. Vanta was founded by a core executive team from Binance, OKX, and Bitget, aiming to build an on-chain trading platform covering multiple asset classes such as crypto assets, stocks, commodities, indices, and foreign exchange.In terms of products, Vanta has launched Smart Trading and AI trading assistance features to enhance the on-chain trading experience. Currently, its public beta has started, and users participating in trading and activities during the public beta can earn double points rewards.

According to official news, the Web3 smart data analysis platform AiTraceRoot has completed a strategic financing of $3.5 million, with participation from Castrum Capital, Becker Ventures, Coinvestor, and Gemhead Capital. The funds raised will be used for product research and development, security upgrades, large-scale data model training, and collaborative development within the BNB Chain ecosystem. AiTraceRoot is a smart data analysis support platform aimed at the Web3 field, dedicated to providing intelligent data analysis services for global Web3 users.

According to Fortune, New York blockchain data analytics company Allium announced the completion of a $40,000,000 Series B financing round, led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures.Allium focuses on cleaning and integrating complex on-chain data, providing services to institutional clients such as Visa, the Federal Reserve, Coinbase, and a16z's crypto division.

BIT (formerly Matrixport) announced the official launch of its U.S. stock margin trading feature, which will be open for public testing starting June 26. BIT is the first platform in the cryptocurrency industry to offer margin trading functionality. Users can now submit margin loan applications through the official website or app. BIT will review applications based on account status and risk management requirements, gradually increasing the margin limits. Additionally, features such as securities lending are also in preparation and will be gradually opened based on regulatory requirements and product progress.During the public testing period, BIT will simultaneously launch the "First Margin Loan · Limited Time Interest-Free" and "Interest Cashback Gift" promotions: Users who use margin trading for the first time during the promotional period will enjoy 30 days of 0% interest on their first loan, allowing users to experience the efficiency of leveraged funds without interest. Elio Cui, head of brokerage services, stated: "BIT is the first to provide margin trading functionality, enhancing the customer journey from account opening, trading to fund leverage. This allows BIT customers to improve investment efficiency and strategically position themselves in the world's most wealth-generating assets without relying on bank cards or leaving the digital asset ecosystem."BIT also reminds users that while margin trading enhances the efficiency of fund usage, it also comes with corresponding risks. Users should fully understand margin rules and risk control mechanisms and participate cautiously based on their own risk tolerance.

According to an official tweet from Sovra, Sovra has completed a $2 million Pre-seed funding round, led by Pharsalus Capital. Sovra is a self-custodied fintech platform primarily targeting the Middle East and North Africa, providing users with USDC-based global digital dollar accounts. The platform enables users to hold, send, use, and earn digital dollar yields while maintaining control over their funds without relying on traditional banks or custodians.

According to The Block, the on-chain trading platform TurboFlow, which provides prediction markets and perpetual contracts, has completed a $6 million seed round of financing, led by Pantera Capital, with participation from Susquehanna Crypto and Digital Currency Group.This round of financing was completed in March and is structured as a Simple Agreement for Future Equity with token warrants. TurboFlow is headquartered in Hong Kong and aims to become the "Kalshi of the Asia-Pacific region." TurboFlow intends to fill the gap of prediction markets in Asia through localization and regional presence. The platform has been operating a beta version for over six months, with more than 15,000 registered users and a cumulative trading volume exceeding $19 billion. TurboFlow currently has over 30 employees, with the core team based in Hong Kong, and plans to maintain a lean operation. In terms of regulation, founder Tony He stated that the company is actively establishing a compliance framework.

According to Techstartups, AI infrastructure startup Upscale AI announced the completion of a new round of financing totaling $190 million, with investors including NVIDIA and Salesforce Ventures. After this round of financing, the company's valuation reached $2 billion.This round of financing is part of its Series A extension, bringing Upscale AI's total financing to $500 million, led by Premji Invest, with new investors such as Temasek and Seligman Ventures participating, while existing shareholders including Maverick Silicon, Mayfield, Prosperity7 Ventures, StepStone Group, and Tiger Global continue to invest.Upscale AI focuses on building network infrastructure for large-scale AI clusters, attempting to solve the "computing power interconnection bottleneck" problem in AI training and inference. The company is developing a full-stack AI network architecture covering chips, systems, and software, aiming to create an open standard network interconnection solution suitable for large-scale AI workloads.The company stated that as the scale of AI clusters continues to expand, network performance is becoming a key limiting factor affecting GPU utilization and training efficiency. Inefficient interconnection can directly lead to wasted computing power and increased training costs. Currently, Upscale AI has begun collaborations with several hyperscale cloud providers and "new cloud" infrastructure providers for evaluation and deployment, but has not disclosed specific client information.Analysts point out that investment in AI infrastructure is spreading from the model layer to the underlying hardware and network layers, with network interconnection becoming one of the most关注的 key infrastructure tracks following GPUs.

According to Jinshi News, sources revealed that SpaceX may issue senior unsecured bonds denominated in dollars with maturities ranging from 5 to 30 years.

Micron Technology and Anthropic announced a new agreement, covering collaboration in memory and storage AI architecture design, supply and demand coordination, Micron's internal adoption of Claude, and Micron's strategic investment in Anthropic's Series H financing.

According to official news, the "social wallet" project ANT.Fun announced the completion of approximately $5 million in strategic financing through the AntFun token, with investors including several Web3 institutions such as MH Ventures, Zerra Venture, Zuala Capital, X21 Digital, and Becker Ventures.The project is building a mobile application on the Solana public chain that integrates "social + Alpha trading," supporting voice discussions, opportunity discovery, and one-click trading. The team claims that its protocol has consistently ranked among the top ten in Solana's revenue, and will accelerate the development of social financial infrastructure, cross-community functions, and an artificial intelligence Alpha strategy discovery engine.