News linked to both this project and an event.
According to TechFlow Research, JPMorgan Chase's August 17 research report pointed out that chip manufacturers' capital expenditures continue to be raised, and equipment vendors' WFE outlooks are revised upward in tandem. TSMC raised its 2026 capital expenditure to $60 billion to $64 billion (+52%), Intel raised it to $20 billion (+11%), and SK Hynix plans 40 trillion Korean won (+45%). Tokyo Electron raised its 2026 WFE outlook to over $150 billion and over $190 billion in 2027, with gross margin expected to reach 50% by early fiscal 2027. Screen Holdings expects 2026 WFE growth to exceed 20% (at least $140 billion). AXT is shifting InP substrate capacity to 6-inch, having received requests for five-year contracts from customers and significant prepayments, with prices expected to rise from 2026 to 2027. Storage LTA coverage is accelerating; Samsung plans to bring 60% to 70% of capacity under LTA, SK Hynix has signed 10 contracts, and SanDisk has signed 8 contracts. The research report concludes that signals from four directions all point to the semiconductor equipment and materials cycle shifting from volume expansion to a dual drive of volume and price. Japanese semiconductor and technology material companies are expected to become major beneficiaries.
According to CoinDesk, Mitsubishi UFJ Financial Group (MUFG) announced plans to utilize the Canton network to conduct a proof of concept for on-chain trading of Japanese Government Bonds (JGB) to achieve real-time 24/7 settlement, replacing the traditional settlement process requiring 1 to 3 days. MUFG stated that this move aims to enhance the operational and capital efficiency of repo transactions, noting that European and American financial institutions have already expanded proof of concept projects in this field, with JPMorgan Chase's Kinexys network having supported blockchain-based intraday US Treasury repo operations since 2020. MUFG pointed out that Japanese Government Bonds are widely used as collateral for repo transactions by domestic and international market participants due to their high credit ratings and liquidity, and the trend towards on-chain adoption is accelerating. Additionally, MUFG has previously partnered with Sumitomo Mitsui Financial Group (SMBC) and Mizuho Financial Group to explore the joint issuance of stablecoins by March 2027; this JGB on-chain settlement test is a significant component of its blockchain strategic layout.
Odaily News: Standard Chartered initiated coverage on Monday of blockchain oracle project Chainlink, projecting LINK to reach $200 by the end of 2030 — roughly 25 times its current price of around $8. The bank's phased targets are $13 by the end of this year, followed by $41, $82, and $133. Standard Chartered estimates that the on-chain tokenized asset market will reach $4 trillion by the end of 2028, with DeFi-deployed assets hitting $2.7 trillion by 2030 — a 37-fold increase from current levels. The bank expects Chainlink fees to grow approximately 25-fold over the same period, assuming token prices track fee growth. Chainlink secures over $110 billion in total value, covering approximately 70% of the value that global DeFi relies on from oracles, with a share exceeding 80% on Ethereum; Aave V3 accounts for 44% of that. Swift, DTCC, Euroclear, JPMorgan, Mastercard, UBS, Fidelity, and S&P Global are all listed as institutions using its services. Chainlink still lags behind LayerZero in cross-chain interoperability. Following the $292 million attack in April, over $7 billion in token value has migrated to Chainlink CCIP, with second-quarter transaction volume reaching $4.9 billion — up 353% year-over-year. Risks include slowing institutional tokenization, pilots not converting to production processes, and technical failures impacting confidence. (Decrypt)
Odaily News: Major U.S. financial institutions continue to advance on-chain operations. JPMorgan is tokenizing ETF holdings through a production pilot with the Depository Trust & Clearing Corporation (DTCC), with over 50 companies including BlackRock and Goldman Sachs already connected to the same infrastructure for tokenizing equities and U.S. Treasuries. BlackRock's CEO stated that tokenization is a way to "update the plumbing of the financial system." Bullish Exchange's Head of Clearing and Group Risk, Randi Abernethy, testified before the U.S. House Financial Services Subcommittee regarding the CLARITY Act in July 2026.
According to TechFlow Research, JPMorgan's August 6 research report cites LightCounting's latest forecast that the data communication market CAGR from 2025 to 2030 will reach 28%, with the scale increasing from $20 billion to over $70 billion. 1.6T products are the largest growth driver, with a CAGR of about 120%, contributing about $40 billion by 2030. After the NPO/CPO market is included in the addressable market calculation, it will exceed $18 billion by 2030, accounting for more than 25% share of the data center communication market. The telecom and data center interconnect market CAGR is 18%, reaching $9 billion by 2030. In terms of short-term financial reports, JPMorgan believes COHR has the highest earnings certainty, with revenue and profit margins expected to continue improving; market concerns over LITE are excessive, with valuation corresponding to only 22x 2028 EPS, leaving room to exceed expectations; FN needs September quarterly guidance to boost confidence. In terms of customer landscape, Google is expected to become the largest optical component purchaser by 2030, and Meta will lead NPO/CPO deployment. For Nvidia, short-term share rebounds to 25% due to 1.6T, but long-term share is expected to drop from 18% to 12%.
Hong Kong-licensed cryptocurrency exchange HashKey Exchange has received approval from JPMorgan to open client fund accounts. HashKey Holdings stated that the account will support client fund segregation and settlement through JPMorgan's banking infrastructure. HashKey Exchange activated a client fund account with Singapore's DBS Bank on June 30, supporting fiat currency deposits, withdrawals, and settlement services. HashKey Holdings merged the previously independent HashKey Exchange and HashKey Global applications into a single entry point one week ago. HashKey Holdings was listed in Hong Kong in December last year, having raised $206 million through an oversubscribed initial public offering.
Bybit today added 6 US stock perpetual contracts: UnitedHealth Group (UNHUSDT), General Electric (GEUSDT), JPMorgan Chase (JPMUSDT), Gilead Sciences (GILDUSDT), Amgen (AMGNUSDT), and Regeneron Pharmaceuticals (REGNUSDT), supporting up to 25x leverage.
According to The Block, the JPMorgan analyst team (led by Managing Director Nikolaos Panigirtzoglou) released a report on July 30 stating that the probability of the "Clarity Act" (Crypto Market Structure Act) passing in the US Senate within the year has dropped to a historic low. The Kalshi prediction market shows a passing probability of only 37%, while Polymarket is even lower at 26%. Analysts pointed out that disagreements on core issues such as ethical provisions, enforcement standards, stablecoin yields, decentralized finance, and illicit finance remain unresolved. Voting is expected to be difficult to complete before the Senate summer recess, and may be postponed until after senators return in mid-September.
According to CoinDesk, Project Agorá, led by the Bank for International Settlements (BIS), recently completed a cross-border payment test with real funds. Participants included 28 commercial banks such as JPMorgan Chase, Citigroup, UBS, Deutsche Bank, and Standard Chartered, as well as five central banks. The test processed approximately $1 million (about 800,000 Swiss francs) in real transactions, covering six currencies: the US dollar, euro, pound sterling, Japanese yen, Swiss franc, and South Korean won. The test utilized tokenized central bank reserves and commercial bank deposits, settling funds on a shared ledger with an average settlement time of about 80 seconds. Unlike traditional cross-border payments that require intermediation by multiple correspondent banks, the platform achieved shared single ownership records and supports synchronized settlement of bilateral foreign exchange, effectively reducing principal risk. The BIS stated that the platform can operate in parallel with existing payment systems, rather than replacing them.
During the 11th year of Ethereum, the Ethereum Foundation underwent organizational restructuring, including leadership departures, layoffs, the introduction of a new CROPS mandate, and the spin-off of EthLabs, Ethereum Systems, and Ethereum Institutional as independent entities. The Ethereum Foundation seeks to further decentralize its role within the ecosystem. Concurrently, Ethereum continued to advance its technology and institutional adoption, launching the Fusaka upgrade and attracting participation from Wall Street institutions such as BlackRock and JPMorgan; cumulative inflows into US spot Ethereum ETFs have exceeded $11.23 billion.
South Korean bank KB Kookmin Bank will launch a blockchain-based corporate cross-border payment service next month, integrating J.P. Morgan’s Kinexys blockchain payment network. This makes it the first financial institution in South Korea to utilize the Kinexys network for corporate import and export settlement services.According to reports, the service will be offered through KB Kookmin Bank's domestic branches in South Korea and its Singapore branch. Initially, it will prioritize supporting USD cross-border remittances, covering 10 countries including South Korea, the United States, Singapore, Saudi Arabia, India, Thailand, Qatar, the United Arab Emirates, Bahrain, and South Africa. Kinexys is J.P. Morgan's blockchain business platform, providing institutional clients with programmable payments, asset tokenization, and near real-time settlement services. (The Block)
据 Decrypt 报道，高盛董事长兼 CEO 大卫·所罗门公开表态支持加密货币市场结构法案（Clarity Act），称其有助于"建立公平竞争环境、提升市场稳定性并推动创新"。此举与摩根大通 CEO 杰米·戴蒙及多家银行业协会的立场明显相左——后者强烈反对法案中允许稳定币提供收益的条款，认为此举将吸走传统银行存款。 目前，参议院共和党人正在流传最新法案草案，新增了限制总统及其家人参与加密业务的伦理条款，但该限制将于 2029 年到期且不适用于特朗普之子，遭民主党批评力度不足。法案能否在八月休会前完成参议院投票，前景仍不明朗。
Goldman Sachs Group CEO David Solomon stated that while the CLARITY Act is not perfect, he supports its advancement, believing it will establish a clearer and fairer regulatory framework for the digital asset market, enhance market stability, and promote innovation.Solomon said the most significant implication of the CLARITY Act is "creating a level playing field, allowing the market to develop healthily." This stance contrasts sharply with that of some banking executives, such as JPMorgan CEO Jamie Dimon. They argue that the bill, by allowing crypto companies to offer stablecoin products similar to interest-bearing deposits without assuming the same regulatory requirements as banks, could weaken the competitiveness of traditional banks.Currently, Republican senators in the U.S. have released a revised text of the CLARITY Act, which could be submitted to the Senate for a vote as early as next week. The bill aims to clarify the division of responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating digital assets, and will continue negotiations on terms related to stablecoin issuance, consumer protection, and yield-bearing stablecoins. (CoinDesk)
According to Reuters, the PayPal board believes the $53 billion acquisition offer ($60.50 per share) jointly proposed by Stripe and private equity firm Advent International undervalues the company, and has concerns regarding regulatory approval risks and financing certainty; it has not yet formally responded to the proposal. The PayPal board believes that if management successfully executes the existing transformation strategy, the company's future potential value will far exceed the current offer. Meanwhile, the acquirers have obtained approximately $50 billion in financing support from JPMorgan Chase and Morgan Stanley, with Stripe and Advent contributing a combined $17 billion in equity. Reportedly, if the parties encounter antitrust hurdles, they may consider divesting assets such as PayPal's Braintree to Advent. Despite differences, Stripe and Advent are still regarded as the most serious potential buyers at present, and negotiations are expected to continue for some time. PayPal will release its quarterly earnings report on July 28, and the market will closely monitor the growth of its core checkout business.
the UK government is accelerating the tokenization of its financial markets. 54 financial institutions, including BlackRock, Goldman Sachs, JPMorgan Chase, HSBC, and UBS, have joined the Wholesale Digital Markets Working Group supported by HM Treasury.Backed by the City of London Corporation, the working group will explore real-world tokenization use cases in the UK financial markets over the next year, with an initial focus on tokenised repurchase agreements (tokenised repo).Chris Woolard, the HM Treasury’s lead on wholesale digital markets, stated in a report that the tokenized financial market represents a "network race" and that the UK must move at the fastest possible pace, or risk missing the opportunity to participate in the global digital financial infrastructure buildout. (CoinDesk)
amid growing insider trading concerns surrounding prediction markets, Goldman Sachs has prohibited its employees from trading prediction market contracts related to the bank's own events, elections, financial markets, macroeconomic data, and geopolitics. Financial institutions such as Morgan Stanley, JPMorgan Chase, and Bank of America are also formulating or updating relevant policies. Bank of America, in particular, has begun clarifying prohibited practices in prediction market trading to its employees.Previously, the U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice accused a Google employee of using non-public information to trade "Search of the Year" related contracts on Polymarket, profiting approximately $1.2 million. Legal experts note that the CFTC still lacks well-established case law in enforcing insider trading rules for prediction markets, and the wide variety of prediction market contracts further complicates regulatory oversight.Currently, Kalshi and Polymarket have respectively launched employment verification tools and collaborated with Chainalysis and Palantir to monitor suspicious trading activities. (CNBC)
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
Odaily Planet Daily reported that the U.S. Bureau of Economic Analysis (BEA) recently announced adjustments to some calculation methods for the Personal Consumption Expenditures Price Index (PCE). The relevant changes are expected to be reflected in the data revision scheduled for release on September 30, 2026. Market estimates broadly indicate that this adjustment will likely lower the core PCE inflation rate by approximately 0.2 percentage points. Current data shows that over the 12 months ending May 2026, core PCE inflation stood at 3.4%, remaining above the Federal Reserve's 2% target since March 2021. The BEA's primary adjustments this time focus on three specific sectors: portfolio management and investment advisory services, computer software and accessories, and legal services, modifying their respective price calculation methods.Former Federal Reserve Governor Miran stated in a speech last December that "some of what should have been recorded as an increase in the quantity of service consumption has instead been recorded as a price increase." In May of this year, Miran, along with Fed economists Alessandro Barbarino and Anthony M. Diercks, published a paper analyzing the shortcomings of existing statistical methods, including issues with the measurement of products like portable storage devices and video games. JPMorgan economist Abiel Reinhart remarked, "‘Grand Theft Auto 6’ might also have a chance to influence the U.S. Treasury yield curve."
According to Bloomberg, JPMorgan released a research report stating that the financing model reform of Michael Saylor's Strategy Inc. has changed Bitcoin market dynamics—the company selectively sells Bitcoin to pay preferred stock dividends and manage its balance sheet, transforming it from one of the largest buyers in the Bitcoin market to a potential seller, introducing "avoidable" two-way flow risk to the market. JPMorgan believes that Strategy needs to hold liquidity reserves sufficient to cover dividend payments for the next two to three years to eliminate market concerns about the forced liquidation of its Bitcoin holdings.
According to The Block, tokenization leader Securitize (stock ticker: SECZ) officially listed on the New York Stock Exchange on July 2 local time, with an opening price of $12.45, an intraday high of $13.70, and a closing price of $12.30. Meanwhile, Securitize simultaneously launched tokenized stocks on the Solana and Avalanche chains, becoming the first company to achieve "traditional market + on-chain" dual-track issuance on the first day of listing, supporting 24/7 trading. Securitize President Brett Redfearn stated that the company is actively negotiating with the capital markets departments of major investment banks such as JPMorgan Chase, and plans to distribute IPO shares in tokenized form to crypto wallets such as MetaMask and OKX within the next 3 to 6 months.