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Arthur Hayes: Rising Dollar Liquidity Will Drive Bitcoin and Crypto Higher
Odaily Planet Daily Report: Arthur Hayes stated on the X platform that his article "Yen-quake" will introduce how Buffalo Bill Bessent plans to manipulate the dollar-yen exchange rate and restart the money printing press. Arthur Hayes said that over the past decade, the continued weakening of the yen has driven gains in global asset markets, but this situation will eventually come to an end. The yen is the lowest-valued currency globally and is also a point of contention among the United States, China, and Japanese everyday voters. There are three ways to resolve the yen issue, but the U.S. Treasury and Japanese politicians tend to favor only one of them. He will explain the operating mechanisms of each yen appreciation method and why the final option is the preferred approach; he will then discuss how to execute the third option at the political level. He stated that as dollar liquidity rises significantly, Bitcoin and cryptocurrencies will rally. The three options include: 1. The Bank of Japan sharply raises interest rates, causing the dollar-yen interest rate differential to disappear, at least on the short end. 2. The government persuades domestic institutions and public bodies such as GPIF to change their investment mandates, selling overseas assets and buying local assets. 3. Preferred option: The Japanese Ministry of Finance conducts repurchase transactions of its U.S. Treasury holdings with the Federal Reserve in exchange for dollars; it then sells dollars and buys yen in the foreign exchange market. Arthur Hayes said that before getting into the details, speculators should consider why yen appreciation is being discussed now. Over the past few decades, many have claimed that the yen was about to appreciate and trigger a global unwinding of carry trades. Two weeks ago, monetary policy officials from the United States and Japan conducted a joint exchange rate manipulation operation, though they euphemistically called it intervention. U.S. Treasury Secretary Buffalo Bill Bessent indicated a desire to raise the counterparty limit for the FIMA repo facility, enabling Japan's Ministry of Finance to use its massive asset reserves to defend the yen. Japan's Ministry of Finance also stated it is working closely with the United States to push the dollar-yen exchange rate lower. Relevant officials are signaling to the market their support for a shift in global currency relations, so the market must pay attention to this.
SK Hynix Considers Selling Stake in Chongqing Plant to Support Large-Scale Domestic Investment in South Korea
SK Hynix is exploring options such as introducing external investors or selling a partial stake for its Chongqing plant in China, with the facility valued at approximately $3 billion. The plant is an important semiconductor back-end process base for SK Hynix in China. Relevant discussions are currently still in the early stages, and the transaction may not ultimately be finalized.
Data center operator Switch launches $2 billion private financing, a16z leads the investment
According to Bloomberg, data center operator Switch has officially launched a $2 billion private financing round led by a16z. Sources familiar with the matter revealed that Switch's enterprise valuation (including debt) following this financing could approach $50 billion, with an equity value of approximately $19 billion (excluding new investment). a16z is set to invest approximately $400 million. Additionally, Goldman Sachs Group and JPMorgan Chase are assisting in facilitating this financing round, which may prepare Switch for an initial public offering (IPO) as early as next year. Relevant negotiations are currently ongoing, and the financing size, valuation, and timing remain subject to adjustment. Headquartered in Las Vegas, Switch was founded in 2000 and currently operates data centers in Nevada, Michigan, Georgia, and Texas. Its majority equity is held by DigitalBridge, which previously privatized Switch in a transaction valued at approximately $11 billion (including debt) in 2022 alongside investors such as IFM Investors.
Ventuals Announces Business Shutdown to Integrate into Hyperliquid Ecosystem; Relevant Markets Begin Settlement
Ventuals today announced it will gradually shut down its operations and integrate into the Hyperliquid ecosystem team, marking the official conclusion of its 24/7 private market experiments. The platform, which focuses on trading pre-IPO private tech companies, had raised over 500,000 HYPE tokens and achieved a total trading volume of approximately $650 million.The platform's existing HIP-3 markets are now entering the settlement phase. Pre-IPO markets such as OpenAI and Anthropic are settling based on a 24-hour weighted average price, with corresponding prices of $1,341.80 and $1,618.90 respectively. Commodity and index markets including MAG7, semiconductors, and energy will be suspended in batches starting June 18, with open positions being auto-liquidated.vHYPE holders can redeem their staked assets at a 1:1 ratio and claim corresponding rewards. Withdrawal services will be initiated in batches starting June 19, with processing times ranging from 7 to 72 hours. The project has terminated its points and promotional activities and has clearly stated that no tokens will be issued. Officials require all users to complete fund withdrawals and wallet export operations by September 15.
Clarity Act's passage probability for the year edges up to 22%, market remains pessimistic
Odaily News: At a meeting held at the White House yesterday with executives from the crypto industry and financial institutions, Trump urged Congress to pass a "fair version" of the Clarity Act (a crypto market structure bill) to establish a clearer regulatory framework for digital assets. Relevant data shows that the probability of the bill passing within the year has risen from 18% previously to 22%.
Visa Seeks New Stablecoin Settlement Partner to Replace BVNK Acquired by Mastercard
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
Prediction markets price roughly 74% probability the Fed holds rates steady in September
Odaily News According to reports, multiple prediction markets are converging on pricing for the Fed's September meeting outcome: approximately 74% probability of holding rates steady, about 25% probability of a 25 basis point rate hike, and nearly 1% probability of a rate cut. Relevant Polymarket contracts have seen trading volume of $33.9 million; Kalshi, a prediction exchange regulated by the US Commodity Futures Trading Commission (CFTC), shows a 73.5% probability of holding rates steady, with related wagers nearing $10 million. Myriad, a prediction platform operated by Dastan, indicates approximately 71% probability for this option. The Fed's July meeting voted 9 to 3 to hold rates at 3.50% to 3.75%, with 3 committee members supporting a rate hike. The FOMC is scheduled to meet from September 15 to 16, with the statement planned for release on September 16; a survey shows nearly 70% of economists expect rates to remain unchanged for the remainder of 2026. (Decrypt)
Australian Teen Social Media Ban Report Suspected of Containing AI Hallucinated Citations, Author Admits Using ChatGPT
According to The Guardian, the core report supporting Australia's teenage social media ban has been identified as containing multiple AI hallucination errors. The report was commissioned by the UK agency Age Check Certification Scheme (ACCS) at a cost of $3.48 million to test age verification technology. The Guardian's analysis revealed at least six errors in academic citations within the report, including links to non-existent papers and DOIs pointing to the wrong articles. ACCS initially denied using AI, then admitted to using ChatGPT to rewrite some paragraphs, but insisted that all citations were manually verified. Relevant Australian government departments have now intervened in the investigation, and experts warn that false citations could lead to incorrect decisions and damage public trust in government agencies.
Arthur Hayes: Rising Dollar Liquidity Will Drive Bitcoin and Crypto Higher
Odaily Planet Daily Report: Arthur Hayes stated on the X platform that his article "Yen-quake" will introduce how Buffalo Bill Bessent plans to manipulate the dollar-yen exchange rate and restart the money printing press. Arthur Hayes said that over the past decade, the continued weakening of the yen has driven gains in global asset markets, but this situation will eventually come to an end. The yen is the lowest-valued currency globally and is also a point of contention among the United States, China, and Japanese everyday voters. There are three ways to resolve the yen issue, but the U.S. Treasury and Japanese politicians tend to favor only one of them. He will explain the operating mechanisms of each yen appreciation method and why the final option is the preferred approach; he will then discuss how to execute the third option at the political level. He stated that as dollar liquidity rises significantly, Bitcoin and cryptocurrencies will rally. The three options include: 1. The Bank of Japan sharply raises interest rates, causing the dollar-yen interest rate differential to disappear, at least on the short end. 2. The government persuades domestic institutions and public bodies such as GPIF to change their investment mandates, selling overseas assets and buying local assets. 3. Preferred option: The Japanese Ministry of Finance conducts repurchase transactions of its U.S. Treasury holdings with the Federal Reserve in exchange for dollars; it then sells dollars and buys yen in the foreign exchange market. Arthur Hayes said that before getting into the details, speculators should consider why yen appreciation is being discussed now. Over the past few decades, many have claimed that the yen was about to appreciate and trigger a global unwinding of carry trades. Two weeks ago, monetary policy officials from the United States and Japan conducted a joint exchange rate manipulation operation, though they euphemistically called it intervention. U.S. Treasury Secretary Buffalo Bill Bessent indicated a desire to raise the counterparty limit for the FIMA repo facility, enabling Japan's Ministry of Finance to use its massive asset reserves to defend the yen. Japan's Ministry of Finance also stated it is working closely with the United States to push the dollar-yen exchange rate lower. Relevant officials are signaling to the market their support for a shift in global currency relations, so the market must pay attention to this.
Approximately $30 million stolen in the first 10 minutes, Coldcard vulnerability attacker prioritized highest-value wallets first
Odaily News, according to Bitcoin News monitoring, Chainalysis analysis of the Coldcard exploit involving over $38 million shows that the attacker deliberately targeted the highest-value wallets first, including one holding $1.8 million, indicating that victims had already been profiled before asset transfers began. Approximately $30 million was stolen in the initial 10 minutes, followed by around 500 wallets being drained within 25 minutes. Block's Clay Garrett stated that investigators also confirmed the attacker used a paid account with a well-known blockchain service provider to query victim addresses during the operation. The provider's internal logs match the request timestamps and sequence, but Block stated that no evidence was found suggesting the company knowingly assisted in the theft. Relevant information has been shared with authorities.
Binance will delist ICX, SCRT, and STORJ on September 3.
According to the official announcement, Binance has decided to stop trading and delist all spot trading pairs for ICON (ICX), Secret (SCRT), and Storj (STORJ) on September 3, 2026, at 03:00 (UTC). Relevant trading bot services will be terminated simultaneously, and contracts will be automatically settled on August 26 at 09:00 (UTC). For deposits and withdrawals, deposits will stop after September 4 at 03:00 (UTC), and withdrawals will end on November 3 at 03:00 (UTC).
Eric Balchunas: SPYM's Expense Ratio is 2 Basis Points, VOO Did Not Appear on the Relevant List
Bloomberg ETF analyst Eric Balchunas posted on platform X, expressing some surprise that VOO did not appear on the list. He noted that "SPYM & Chill" doesn't have the same ring to it, but he will make do. SPYM's expense ratio is 2 basis points; even the government is focused on costs.
Ventuals Announces Business Shutdown to Integrate into Hyperliquid Ecosystem; Relevant Markets Begin Settlement
Ventuals today announced it will gradually shut down its operations and integrate into the Hyperliquid ecosystem team, marking the official conclusion of its 24/7 private market experiments. The platform, which focuses on trading pre-IPO private tech companies, had raised over 500,000 HYPE tokens and achieved a total trading volume of approximately $650 million.The platform's existing HIP-3 markets are now entering the settlement phase. Pre-IPO markets such as OpenAI and Anthropic are settling based on a 24-hour weighted average price, with corresponding prices of $1,341.80 and $1,618.90 respectively. Commodity and index markets including MAG7, semiconductors, and energy will be suspended in batches starting June 18, with open positions being auto-liquidated.vHYPE holders can redeem their staked assets at a 1:1 ratio and claim corresponding rewards. Withdrawal services will be initiated in batches starting June 19, with processing times ranging from 7 to 72 hours. The project has terminated its points and promotional activities and has clearly stated that no tokens will be issued. Officials require all users to complete fund withdrawals and wallet export operations by September 15.
Trading Protocol’s treasury attacked, suffering losses of approximately $398,000
According to on-chain analyst PeckShield (@PeckShieldAlert), the YieldCore-3rd-deal treasury under Trading Protocol was attacked, resulting in losses of approximately $398,000. The attack exploited a vulnerability in the contract—specifically, a missing caller permission check—which allowed the attacker to bypass the authorization mechanism and withdraw all funds from the treasury. Relevant on-chain transaction records have now been disclosed.
Approximately $30 million stolen in the first 10 minutes, Coldcard vulnerability attacker prioritized highest-value wallets first
Odaily News, according to Bitcoin News monitoring, Chainalysis analysis of the Coldcard exploit involving over $38 million shows that the attacker deliberately targeted the highest-value wallets first, including one holding $1.8 million, indicating that victims had already been profiled before asset transfers began. Approximately $30 million was stolen in the initial 10 minutes, followed by around 500 wallets being drained within 25 minutes. Block's Clay Garrett stated that investigators also confirmed the attacker used a paid account with a well-known blockchain service provider to query victim addresses during the operation. The provider's internal logs match the request timestamps and sequence, but Block stated that no evidence was found suggesting the company knowingly assisted in the theft. Relevant information has been shared with authorities.
PancakeSwap's OLPC/LABUBU trading pool was attacked, with approximately $1.1 million in assets stolen
according to PeckShield monitoring, the OLPC/LABUBU liquidity pool on BNB Chain's PancakeSwap was attacked. The attacker stole approximately $1.1 million worth of assets. After the incident, the attacker cross-chain transferred the stolen funds to Ethereum and subsequently deposited 633.4 ETH into the mixing protocol Tornado Cash. Additionally, the attacker sent 0.0221 BNB and 0.0411 ETH to a deprecated address. Relevant attack details and fund flows are still under continuous tracking.
Trading Protocol’s treasury attacked, suffering losses of approximately $398,000
According to on-chain analyst PeckShield (@PeckShieldAlert), the YieldCore-3rd-deal treasury under Trading Protocol was attacked, resulting in losses of approximately $398,000. The attack exploited a vulnerability in the contract—specifically, a missing caller permission check—which allowed the attacker to bypass the authorization mechanism and withdraw all funds from the treasury. Relevant on-chain transaction records have now been disclosed.
Clarity Act's passage probability for the year edges up to 22%, market remains pessimistic
Odaily News: At a meeting held at the White House yesterday with executives from the crypto industry and financial institutions, Trump urged Congress to pass a "fair version" of the Clarity Act (a crypto market structure bill) to establish a clearer regulatory framework for digital assets. Relevant data shows that the probability of the bill passing within the year has risen from 18% previously to 22%.
Visa Seeks New Stablecoin Settlement Partner to Replace BVNK Acquired by Mastercard
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
Prediction markets price roughly 74% probability the Fed holds rates steady in September
Odaily News According to reports, multiple prediction markets are converging on pricing for the Fed's September meeting outcome: approximately 74% probability of holding rates steady, about 25% probability of a 25 basis point rate hike, and nearly 1% probability of a rate cut. Relevant Polymarket contracts have seen trading volume of $33.9 million; Kalshi, a prediction exchange regulated by the US Commodity Futures Trading Commission (CFTC), shows a 73.5% probability of holding rates steady, with related wagers nearing $10 million. Myriad, a prediction platform operated by Dastan, indicates approximately 71% probability for this option. The Fed's July meeting voted 9 to 3 to hold rates at 3.50% to 3.75%, with 3 committee members supporting a rate hike. The FOMC is scheduled to meet from September 15 to 16, with the statement planned for release on September 16; a survey shows nearly 70% of economists expect rates to remain unchanged for the remainder of 2026. (Decrypt)
Australian Teen Social Media Ban Report Suspected of Containing AI Hallucinated Citations, Author Admits Using ChatGPT
According to The Guardian, the core report supporting Australia's teenage social media ban has been identified as containing multiple AI hallucination errors. The report was commissioned by the UK agency Age Check Certification Scheme (ACCS) at a cost of $3.48 million to test age verification technology. The Guardian's analysis revealed at least six errors in academic citations within the report, including links to non-existent papers and DOIs pointing to the wrong articles. ACCS initially denied using AI, then admitted to using ChatGPT to rewrite some paragraphs, but insisted that all citations were manually verified. Relevant Australian government departments have now intervened in the investigation, and experts warn that false citations could lead to incorrect decisions and damage public trust in government agencies.
Arthur Hayes: Rising Dollar Liquidity Will Drive Bitcoin and Crypto Higher
Odaily Planet Daily Report: Arthur Hayes stated on the X platform that his article "Yen-quake" will introduce how Buffalo Bill Bessent plans to manipulate the dollar-yen exchange rate and restart the money printing press. Arthur Hayes said that over the past decade, the continued weakening of the yen has driven gains in global asset markets, but this situation will eventually come to an end. The yen is the lowest-valued currency globally and is also a point of contention among the United States, China, and Japanese everyday voters. There are three ways to resolve the yen issue, but the U.S. Treasury and Japanese politicians tend to favor only one of them. He will explain the operating mechanisms of each yen appreciation method and why the final option is the preferred approach; he will then discuss how to execute the third option at the political level. He stated that as dollar liquidity rises significantly, Bitcoin and cryptocurrencies will rally. The three options include: 1. The Bank of Japan sharply raises interest rates, causing the dollar-yen interest rate differential to disappear, at least on the short end. 2. The government persuades domestic institutions and public bodies such as GPIF to change their investment mandates, selling overseas assets and buying local assets. 3. Preferred option: The Japanese Ministry of Finance conducts repurchase transactions of its U.S. Treasury holdings with the Federal Reserve in exchange for dollars; it then sells dollars and buys yen in the foreign exchange market. Arthur Hayes said that before getting into the details, speculators should consider why yen appreciation is being discussed now. Over the past few decades, many have claimed that the yen was about to appreciate and trigger a global unwinding of carry trades. Two weeks ago, monetary policy officials from the United States and Japan conducted a joint exchange rate manipulation operation, though they euphemistically called it intervention. U.S. Treasury Secretary Buffalo Bill Bessent indicated a desire to raise the counterparty limit for the FIMA repo facility, enabling Japan's Ministry of Finance to use its massive asset reserves to defend the yen. Japan's Ministry of Finance also stated it is working closely with the United States to push the dollar-yen exchange rate lower. Relevant officials are signaling to the market their support for a shift in global currency relations, so the market must pay attention to this.
BIP-110 Supporters Propose Replacing PoW Algorithm; Minority Chain Stalls After Mining Only 2 Blocks
Odaily News: After forking at block height 961632, the BIP-110 minority chain has only mined two blocks, 961632 and 961633, and has since stalled due to inheriting Bitcoin's difficulty of approximately 127.48 trillion while receiving extremely low SHA-256d hash power. Pre-fork miner support was approximately 0% to 2.6%. BIP-110 supporters are discussing replacing the proof-of-work algorithm to break free from reliance on Bitcoin miners and SHA-256d hash power. Luke Dashjr has proposed selecting the final algorithm from a shortlist of candidates through a deterministic random process, with options under discussion including RandomX, KT256, BLAKE3, Scrypt, as well as CPU and GPU mining. No PoW changes have been enabled or approved yet, no algorithm has been selected or activation height announced, and Bitcoin Knots has not committed to adjusting the PoW. Relevant experimental code has been ported to the recent Bitcoin Knots codebase, but the BIP-110 minority chain has still not resumed block production.
Related news
Clarity Act's passage probability for the year edges up to 22%, market remains pessimistic
Odaily News: At a meeting held at the White House yesterday with executives from the crypto industry and financial institutions, Trump urged Congress to pass a "fair version" of the Clarity Act (a crypto market structure bill) to establish a clearer regulatory framework for digital assets. Relevant data shows that the probability of the bill passing within the year has risen from 18% previously to 22%.
Binance will delist ICX, SCRT, and STORJ on September 3.
According to the official announcement, Binance has decided to stop trading and delist all spot trading pairs for ICON (ICX), Secret (SCRT), and Storj (STORJ) on September 3, 2026, at 03:00 (UTC). Relevant trading bot services will be terminated simultaneously, and contracts will be automatically settled on August 26 at 09:00 (UTC). For deposits and withdrawals, deposits will stop after September 4 at 03:00 (UTC), and withdrawals will end on November 3 at 03:00 (UTC).
Visa Seeks New Stablecoin Settlement Partner to Replace BVNK Acquired by Mastercard
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
Prediction markets price roughly 74% probability the Fed holds rates steady in September
Odaily News According to reports, multiple prediction markets are converging on pricing for the Fed's September meeting outcome: approximately 74% probability of holding rates steady, about 25% probability of a 25 basis point rate hike, and nearly 1% probability of a rate cut. Relevant Polymarket contracts have seen trading volume of $33.9 million; Kalshi, a prediction exchange regulated by the US Commodity Futures Trading Commission (CFTC), shows a 73.5% probability of holding rates steady, with related wagers nearing $10 million. Myriad, a prediction platform operated by Dastan, indicates approximately 71% probability for this option. The Fed's July meeting voted 9 to 3 to hold rates at 3.50% to 3.75%, with 3 committee members supporting a rate hike. The FOMC is scheduled to meet from September 15 to 16, with the statement planned for release on September 16; a survey shows nearly 70% of economists expect rates to remain unchanged for the remainder of 2026. (Decrypt)
Australian Teen Social Media Ban Report Suspected of Containing AI Hallucinated Citations, Author Admits Using ChatGPT
According to The Guardian, the core report supporting Australia's teenage social media ban has been identified as containing multiple AI hallucination errors. The report was commissioned by the UK agency Age Check Certification Scheme (ACCS) at a cost of $3.48 million to test age verification technology. The Guardian's analysis revealed at least six errors in academic citations within the report, including links to non-existent papers and DOIs pointing to the wrong articles. ACCS initially denied using AI, then admitted to using ChatGPT to rewrite some paragraphs, but insisted that all citations were manually verified. Relevant Australian government departments have now intervened in the investigation, and experts warn that false citations could lead to incorrect decisions and damage public trust in government agencies.
Arthur Hayes: Rising Dollar Liquidity Will Drive Bitcoin and Crypto Higher
Odaily Planet Daily Report: Arthur Hayes stated on the X platform that his article "Yen-quake" will introduce how Buffalo Bill Bessent plans to manipulate the dollar-yen exchange rate and restart the money printing press. Arthur Hayes said that over the past decade, the continued weakening of the yen has driven gains in global asset markets, but this situation will eventually come to an end. The yen is the lowest-valued currency globally and is also a point of contention among the United States, China, and Japanese everyday voters. There are three ways to resolve the yen issue, but the U.S. Treasury and Japanese politicians tend to favor only one of them. He will explain the operating mechanisms of each yen appreciation method and why the final option is the preferred approach; he will then discuss how to execute the third option at the political level. He stated that as dollar liquidity rises significantly, Bitcoin and cryptocurrencies will rally. The three options include: 1. The Bank of Japan sharply raises interest rates, causing the dollar-yen interest rate differential to disappear, at least on the short end. 2. The government persuades domestic institutions and public bodies such as GPIF to change their investment mandates, selling overseas assets and buying local assets. 3. Preferred option: The Japanese Ministry of Finance conducts repurchase transactions of its U.S. Treasury holdings with the Federal Reserve in exchange for dollars; it then sells dollars and buys yen in the foreign exchange market. Arthur Hayes said that before getting into the details, speculators should consider why yen appreciation is being discussed now. Over the past few decades, many have claimed that the yen was about to appreciate and trigger a global unwinding of carry trades. Two weeks ago, monetary policy officials from the United States and Japan conducted a joint exchange rate manipulation operation, though they euphemistically called it intervention. U.S. Treasury Secretary Buffalo Bill Bessent indicated a desire to raise the counterparty limit for the FIMA repo facility, enabling Japan's Ministry of Finance to use its massive asset reserves to defend the yen. Japan's Ministry of Finance also stated it is working closely with the United States to push the dollar-yen exchange rate lower. Relevant officials are signaling to the market their support for a shift in global currency relations, so the market must pay attention to this.