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Storj Labs has filed for Chapter 11 bankruptcy protection after raising about $35 million through venture funding, grants and its 2017 STORJ token sale.
Summary
Storj filed Chapter 11 to restructure legacy debt while maintaining its decentralized cloud storage services. The company plans to propose shared ownership for management, investors, community members, and STORJ holders. STORJ fell after the filing, while token utility and network operations remained unchanged, Storj said. The company filed the case on July 26 in the U.S. Bankruptcy Court for the Northern District of West Virginia under case number 5:26-bk-00512.
According to Storj’s official restructuring announcement, the filing aims to address older financial obligations while allowing the decentralized cloud storage company to continue operating. Storj said customer services, its network and its main business would continue during the court process, subject to bankruptcy rules and court approval.
Storj seeks to address legacy debt Storj described the Chapter 11 case as a restructuring rather than a shutdown. The company said it plans to continue normal operations while it works through debts linked to an earlier stage of the business. However, the announcement did not provide a full list of assets, liabilities or creditors.
Kaloyan Raev, Storj’s director of software engineering, said the business was “strong and right-sized” but remained held back by “legacy obligations from an earlier chapter.” The statement reflects the company’s position, but the bankruptcy court will still review its finances, creditor claims and any proposed reorganization plan.
Storj also said it has narrowed its focus to its core cloud business. It is disposing of earlier acquisitions and non-essential operations as part of that process. Inveniam supports the restructuring and said the company should return its attention to distributed storage, compute and file-access services.
Inveniam announced an agreement to acquire Storj in October 2025. The companies said Storj would remain a separate legal entity and operate as an Inveniam subsidiary. They also said existing customer, supplier and community relationships would remain in place.
Services expected to continue during Chapter 11 Storj said it “does not anticipate any interruptions” to customer services during the bankruptcy process. That wording expresses an expectation rather than a guarantee. The company must continue meeting its obligations under bankruptcy law, and some business decisions may require approval from the court.
The Storj network uses independent storage providers to supply unused storage capacity. Customers can access distributed cloud storage through tools designed to work with common business systems. The STORJ token supports payments across parts of the network, including compensation for node operators who provide storage and bandwidth.
The company’s official website continued to advertise cloud storage, file access and compute products after the filing. Storj has not announced changes to the token’s network role. Still, the bankruptcy concerns Storj Labs as a company, and the court process may shape its ownership, finances and business structure.
Before the filing, Storj had also adjusted parts of its cloud storage business. The company announced new storage and egress prices that took effect on July 1, 2026, while maintaining separate terms for some customers using older plans.
Token holders may join ownership proposal Storj said management, community members, STORJ holders, current investors and possible new investors could share ownership of the reorganized company. The announcement described this as a plan, not a completed arrangement. It did not state how many token holders could qualify or how ownership would be allocated.
Any ownership proposal must appear in a formal Chapter 11 plan and receive the required creditor support and court approval. Storj has not disclosed conversion terms, eligibility rules, valuation details or a timetable. Therefore, holding STORJ does not currently give a confirmed right to shares in the reorganized business.
The proposed structure differs from the court-supervised asset-sale approach used by some other crypto companies. As crypto.news reported, Poolin entered Chapter 11 while pursuing a sale of its Texas bitcoin mining assets. The mining company reported about $173.1 million in obligations before filing.
Similarly, Movement Labs filed for Chapter 11 in July with liabilities that could reach $10 million. Meanwhile, a separate developer said work on the Movement blockchain would continue despite the original company’s bankruptcy case.
Storj raised about $35 million before filing Storj completed a $30 million STORJ token sale in May 2017. The sale reached its target in seven days, although the company had initially scheduled it to remain open until June 19. Participants received STORJ tokens that they could use within the storage ecosystem.
The company also raised traditional funding before and around the token sale. Storj announced a$3 million seed round in February 2017 to support development of its distributed cloud storage platform. The round included investors linked to Qualcomm Ventures and Techstars.
CB Insights funding data places Storj’s total equity funding at about $5.05 million across six rounds. Combined with the token sale, the publicly reported amount reaches roughly $35 million.
Inveniam’s October 2025 acquisition announcement said Storj would retain its existing services, leadership and community relationships. It also said the STORJ token would remain part of the company’s decentralized infrastructure.
The bankruptcy filing came about nine months after that acquisition announcement. Storj has not yet released a full reorganization plan, detailed creditor schedule or final ownership terms. Future court filings should provide more information about its debts, available financing, asset sales and the proposed role for token holders.
Merkeziyetsiz bulut depolama ve bilgi işlem hizmetleri sunan Storj Labs, geçmiş dönemlerden kalan mali yükümlülüklerini yeniden yapılandırmak amacıyla ABD’de Chapter 11 iflas korumasına başvurdu. Şirket, bu sürecin faaliyetlerini sonlandırmak için değil, finansal yapısını güçlendirmek amacıyla başlatıldığını vurgularken, STORJ token sahiplerini ilgilendiren yeni bir ortaklık modeli üzerinde de çalışıldığını açıkladı.
Storj Labs Chapter 11 Korumasına Başvurdu Storj Labs, 26 Temmuz 2026 tarihinde Batı Virginia Kuzey Bölgesi ABD İflas Mahkemesi’ne gönüllü yeniden yapılandırma başvurusu yaptığını duyurdu. Şirket, sürecin 5:26-bk-00512 numaralı dosya kapsamında yürütüleceğini belirtti. Mahkeme kayıtlarına göre Storj Labs’ın varlıklarının ve yükümlülüklerinin 1 milyon dolar ile 10 milyon dolar arasında olduğu tahmin edilirken, şirketin 1 ila 49 arasında alacaklıya sahip olduğu bildirildi. İflas koruması haberinin ardından STORJ token üzerinde de satış baskısı görüldü.
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Storj yönetimi, Chapter 11 başvurusunun operasyonların duracağı anlamına gelmediğinin altını çizdi. Yapılan açıklamaya göre merkeziyetsiz depolama ağı, müşterilere sunulan hizmetler ve şirket ekibinin çalışmaları normal şekilde devam edecek. Şirket, yeniden yapılandırma sürecinin mevcut iş modelinden önce oluşan tarihi mali yükümlülükleri çözmeyi hedeflediğini belirtti. Ana hissedar Inveniam’ın finansal desteğinin sürdüğü ve operasyonların kontrollü şekilde devam ettiği ifade edildi.
Storj’dan Açıklama Şirket tarafından yapılan açıklamada şu ifadelere yer verildi:
“Bugün Storj, mevcut stratejimizden önce oluşan geçmiş yükümlülükleri çözmek amacıyla hızlandırılmış ve mahkeme gözetiminde yürütülecek gönüllü bir mali yeniden yapılandırma süreci başlattı. İşletme ve ağ normal şekilde çalışmaya devam ediyor.”
Ayrıca çalışan maaşları ile yeniden yapılandırma sürecinden sonra oluşacak ticari yükümlülüklerin, mahkemenin gerekli onayları doğrultusunda karşılanmasının planlandığı belirtildi.
Şirketin dikkat çeken açıklamalarından biri de STORJ token sahiplerini ilgilendiren yeni mülkiyet modeli oldu. Storj yönetimi, yeniden yapılandırma sonrasında şirketin sahiplik yapısına yönetim ekibi, yatırımcılar, merkeziyetsiz ağ topluluğu ve STORJ token sahiplerinin de dahil olabileceği bir model üzerinde çalışıldığını açıkladı. Ancak şirket, token sahiplerine sağlanabilecek olası hakların henüz kesinleşmediğini vurguladı. Katılım şartları, dağıtım mekanizması ve diğer detayların hazırlanacak yeniden yapılandırma planı kapsamında mahkemenin onayına sunulacağı ifade edildi. Öte yandan Storj, Chapter 11 sürecinin STORJ tokeninin ağ içindeki kullanım alanlarını değiştirmeyeceğini ve yeniden yapılandırma tamamlanana kadar token fiyatına ilişkin herhangi bir değerlendirme yapılmayacağını da bildirdi.
Değerlendirme Storj Labs’ın Chapter 11 korumasına başvurması, şirketin faaliyetlerini sonlandıracağı anlamına gelmiyor. Yönetim, finansal yapıyı güçlendirmeyi ve geçmişten kalan yükümlülükleri yeniden yapılandırmayı hedefliyor. Sürecin en dikkat çeken başlıklarından biri ise STORJ token sahiplerini kapsayabilecek yeni ortaklık modeli oldu. Yeniden yapılandırmanın nasıl sonuçlanacağı ve mahkemenin vereceği kararlar, hem şirketin geleceği hem de STORJ ekosistemi açısından yakından takip edilecek.
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Key Takeaways On July 26, Storj Labs submitted a Chapter 11 bankruptcy petition in West Virginia’s federal bankruptcy court Prior to filing, the decentralized storage company secured approximately $35 million through venture capital and a 2017 token offering The company intends to maintain uninterrupted network operations and customer support throughout the reorganization A proposed equity conversion mechanism for STORJ token holders is under development Two additional cryptocurrency firms entered Chapter 11 proceedings during July 2026 On July 26, 2026, Storj Labs initiated Chapter 11 bankruptcy proceedings in the US Bankruptcy Court for the Northern District of West Virginia. The filing appears under case number 5:26-bk-00512.
Storj Labs Files for Chapter 11 Bankruptcy After Raising Approximately $35 Million
Storj Labs, the company behind decentralized cloud storage network Storj, has voluntarily filed for Chapter 11 bankruptcy protection to address legacy debt while continuing operations.
The… pic.twitter.com/UkF8qiMkB6
— Wu Blockchain (@WuBlockchain) July 27, 2026
According to the company’s statements, the financial difficulties trace back to legacy liabilities connected to previous business operations. Kaloyan Raev, serving as director of software engineering at Storj, characterized the current business as operationally sound and appropriately sized, but burdened by historical financial obligations.
Prior to this bankruptcy petition, Storj Labs successfully raised approximately $35 million in capital. This figure encompasses a $30 million STORJ token offering that concluded in May 2017, a $3 million seed investment round disclosed in February 2017, and roughly $5 million in additional equity financing distributed across six separate funding rounds.
The bankruptcy filing follows approximately nine months after Inveniam, a data infrastructure firm, revealed its planned acquisition of Storj Labs in October 2025. Inveniam has indicated its commitment to backing the company throughout the Chapter 11 restructuring proceedings.
Service Continuity Maintained Throughout Bankruptcy Process According to Storj Labs, customers should not anticipate any service disruptions during the Chapter 11 reorganization. The decentralized network functions through independent storage node operators who receive STORJ token compensation for contributing storage capacity and bandwidth resources.
The company emphasized that the STORJ token maintains its functional purpose within the network ecosystem without changes. At the time of filing, CoinGecko data showed STORJ tokens trading near $0.072, with the announcement generating minimal immediate price volatility.
Storj Price As part of the restructuring strategy, Storj Labs is streamlining its business operations. The company plans to divest previous acquisitions and non-core business units.
Equity Participation Proposed for Token Community Management at Storj Labs has announced intentions to develop a framework enabling STORJ token holders to acquire equity stakes in the post-reorganization entity. The proposed ownership structure may include participation from existing management, current investors, community stakeholders, and potentially new capital partners.
Details regarding eligibility criteria, potential token snapshot requirements, lockup provisions, or the percentage of equity allocated remain undisclosed. Any restructuring plan requires approval from creditors and final authorization from the bankruptcy court.
This restructuring strategy contrasts with other recent cryptocurrency bankruptcy cases. Bitcoin mining operation Poolin, which similarly filed Chapter 11 in July, is proceeding with a court-supervised liquidation of its Texas-based mining facilities. Movement Labs submitted a Subchapter V filing in July, reporting potential liabilities as high as $10 million.
Storj Labs has yet to release a comprehensive reorganization blueprint, complete creditor listing, or finalized ownership terms. Additional court documents expected in coming weeks should illuminate the company’s total debt obligations and the specific framework for tokenholder participation.
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The Pound to US Dollar (GBP/USD) exchange rate fell to a two-week low last week as surging energy prices and escalating tensions in the Middle East boosted demand for the safe-haven US Dollar while Sterling came under pressure.
At the time of writing, GBP/USD was trading around $1.3317, down approximately 1% over the week.
Latest — Exchange Rates:
Pound to Dollar (GBP/USD): 1.335557 (+0.23%)
Euro to Dollar (EUR/USD): 1.139973 (+0.25%)
Dollar to Yen (USD/JPY): 163.59142 (-0.16%)
DAILY RECAP:
The US Dollar (USD) strengthened against most major currencies last week as tensions in the Middle East continued to escalate.
Demand for the safe-haven currency was initially restrained as global risk appetite remained surprisingly resilient through the first half of the week.
However, the US Dollar gathered momentum later in the session as investors sought defensive assets after global oil prices climbed above US$100 a barrel following Yemen’s Houthi rebels expanding the conflict from the Gulf into the Red Sea.
Toward the end of the week, US President Donald Trump also unsettled markets after announcing new "forced labour" tariffs on more than 80 countries, adding another layer of uncertainty for investors.
Meanwhile, the Pound (GBP) came under sustained pressure as rising UK government borrowing costs unsettled financial markets.
Although soaring global energy prices contributed to higher gilt yields, investors also focused on Prime Minister Andy Burnham's first wave of cost-of-living measures.
The government's tax relief plans prompted fresh questions over how the proposals would be funded while remaining within Labour's fiscal rules.
A busy run of UK economic data failed to change the broader narrative. Strong employment figures and better-than-expected retail sales offered some support, but softer inflation weakened expectations for another Bank of England (BoE) interest rate hike in the near term.
Near-Term GBP/USD Forecast: Fed and BoE Rate Decisions in the Spotlight Looking ahead, attention will centre on this week's interest rate decisions from both the Federal Reserve and the Bank of England.
The Federal Reserve is expected to leave rates unchanged, but investors will closely examine policymakers' guidance for any indication that another interest rate hike could still be delivered before the end of the summer.
The latest US GDP figures later in the week may also influence the US Dollar if second-quarter growth accelerates as expected.
Meanwhile, markets also expect the Bank of England to keep interest rates on hold, leaving the focus on its guidance and whether policymakers emphasise the growing economic challenges facing the UK while maintaining a cautious tone.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
GBP/CAD could recover towards 1.8900 this week, although the Bank of England decision, UK fiscal concerns and volatile oil prices will determine whether the rebound can hold. The Pound to Canadian Dollar exchange rate (GBP/CAD) opened the new week near CA$1.8820, having recovered from last week’s three-week low around CA$1.8740.
GBP/CAD nevertheless ended the previous week approximately 0.4% lower, as UK fiscal concerns weighed on Pound Sterling while rising oil prices supported the commodity-linked Canadian Dollar.
Latest — Exchange Rates:
Pound to Canadian Dollar (GBP/CAD): 1.8819 (+0.20%)
Euro to Canadian Dollar (EUR/CAD): 1.608296 (+0.35%)
Dollar to Canadian Dollar (USD/CAD): 1.4096 (+0.01%)
Image: GBP/CAD Technical Outlook Ahead of the Bank of England Decision Near-term momentum has improved after GBP/CAD moved back above the 1.8800 area.
The 15-minute chart shows the pair holding above its short-term moving average and session VWAP, while the relative strength index remains positive without signalling an extreme overbought position.
Initial resistance is located around 1.8830. A sustained break above this level could open the way towards 1.8870 and then the psychologically important 1.8900 area.
On the downside, 1.8800 is the first support to watch. A break beneath 1.8780 would weaken the recovery and expose last week’s low near 1.8740.
Near-Term GBP/CAD Forecast: Bank of England Holds the Key Thursday’s Bank of England decision will provide the week’s main test for Sterling.
The Bank is widely expected to leave interest rates unchanged at 3.75%, meaning the vote split, updated forecasts and guidance on future tightening will be more important than the decision itself.
At the previous meeting, two Monetary Policy Committee members voted for an immediate increase to 4.00%.
Further concern about the inflationary impact of elevated energy prices could therefore reinforce expectations that the Bank may raise rates later this year.
A relatively hawkish decision, particularly one that keeps a September increase under consideration, would support a GBP/CAD move through 1.8830 and towards 1.8900.
However, Pound Sterling could retreat if the Bank emphasises weaker growth, softer headline inflation or the risk that higher energy costs will damage demand rather than create persistent domestic inflation.
UK political and fiscal developments will remain an additional risk.
The Pound struggled last week after Prime Minister Andy Burnham appointed John Healey as Chancellor and investors questioned how the government’s proposed tax reductions would be funded.
This political uncertainty overshadowed stronger-than-expected UK retail sales and business activity figures, preventing Sterling from making a sustained recovery.
Oil Prices and Canadian GDP Could Support the Loonie For the Canadian Dollar, oil prices are likely to remain at least as important as domestic data.
Crude prices surged last week following attacks on Saudi tankers and infrastructure around the Red Sea, but fell sharply on Monday as a pause in US-Iran attacks encouraged hopes of renewed diplomacy.
Shipping disruption through the Bab el-Mandeb Strait means the risk premium has not disappeared, leaving CAD sensitive to further geopolitical headlines.
A renewed rise in Brent crude would probably favour the Canadian Dollar and could push GBP/CAD back towards 1.8780.
Conversely, a continued oil-price correction would remove an important source of CAD support.
Friday’s Canadian GDP report will provide the main domestic event.
Statistics Canada will publish May’s GDP figures alongside an advance estimate for June, following April’s 0.5% expansion.
Stronger growth would reinforce the downside risk for GBP/CAD.
Nevertheless, the central forecast is for the pair to remain supported above 1.8780, with a hawkish Bank of England outcome potentially driving a recovery towards 1.8870–1.8900.
EUR/USD enters the final week of July at 1.1369. Friday’s modest decline in energy prices reduced expectations that the Federal Reserve could raise rates as early as its upcoming meeting, scheduled for Tuesday and Wednesday.
At the same time, the main currency pair remains very close to the monthly low recorded in late June. Markets continue to price in at least one Fed rate hike before the end of the year.
Inflation risks have risen following a renewed escalation in the US–Iran conflict. Restrictions on the movement of energy tankers in the Persian Gulf and the Red Sea have pushed oil and fuel prices higher.
Additional support for the dollar is coming from strong US economic data. S&P PMIs showed the fastest pace of private business activity growth this year. Meanwhile, the number of initial jobless claims fell at the fastest pace in nearly six decades, confirming the resilience of the labour market.
Technical Analysis
On the H4 chart of EUR/USD, the market has formed a consolidation range around the 1.1389 level, currently extending between 1.1336 and 1.1413. This range is nearing completion. An upside breakout would suggest a corrective move towards 1.1420, followed by a decline to 1.1313. A direct downside breakout would open the way for a move to 1.1313. The MACD indicator supports this scenario, with its signal line below zero and pointing firmly downwards, reflecting continued bearish momentum.
On the H1 chart, the market has completed an upward move to the 1.1414 level. A consolidation range is currently forming below this level. Today, a move lower to 1.1390 is expected, followed by a move higher to 1.1420, and then a decline to 1.1370, with scope for the trend to extend to 1.1313. The Stochastic oscillator confirms this scenario, with its signal line below 80 and pointing downwards towards 20, indicating increasing short-term downside pressure.
Conclusion EUR/USD remains under pressure as it approaches the final week of July, hovering near monthly lows. The modest retreat in energy prices at the end of last week briefly reduced expectations of an immediate Fed rate hike, but markets continue to price in at least one increase before the end of the year. Renewed US–Iran tensions and supply disruptions in the Persian Gulf and the Red Sea have pushed oil prices higher, reinforcing inflation risks. Strong US economic data – including robust PMI readings and a sharp decline in jobless claims – continue to support the dollar. Technically, the pair may see a temporary corrective move towards 1.1420, but the broader bearish structure remains intact, with downside potential towards 1.1313. The Federal Reserve meeting this week will be the key catalyst.
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South Korea (Photo by Daniel Bernard on Unsplash)Summary
POSCO International is putting live trade receivables on the Injective blockchain in a pilot with LG CNS, aiming to speed up payments between its global subsidiaries.By placing receivables on a shared blockchain ledger, the companies aim to create a single, transferable record that embeds compliance rules and reduces reconciliation times for buyers, sellers and banks.The initiative, which POSCO plans to move into live production after the pilot, underscores South Korea’s growing corporate adoption of blockchain in areas such as trade finance, stablecoin-based treasury transfers and asset tokenization.POSCO International, South Korea's largest trading company, has begun tokenizing trade receivables on blockchain in a test that could speed up commercial payments between its global subsidiaries.
The company, which generated $22.2 billion in revenue last year from businesses spanning steel, energy and battery materials, is working with LG CNS, the technology arm of LG Group, to issue, transfer and settle receivables on layer-1 blockchain Injective INJ$4.9323, the firms told CoinDesk in a press briefing.
The pilot is using receivables generated by real trade between POSCO's overseas operations and their counterparties rather than simulated transactions.
Trade receivables represent money owed to a company after goods have been shipped but before payment is received. Today, those claims are typically tracked separately by buyers, sellers and banks, with reconciliation often taking days before cash can be released.
The companies said putting receivables on a shared blockchain ledger creates a single record that can be transferred and settled while carrying compliance rules with the asset itself.
"This PoC is significant in that it validated the applicability of AI and blockchain technology based on real trade data and processes," a POSCO International spokesperson said. The firm said it plans to expand the initiative into live production after completing the pilot later this year.
Tokenization expands beyond funds and stocksMuch of the industry's recent attention has centered on tokenizing funds and equities. Asset managers including BlackRock, Franklin Templeton, Apollo, Fidelity, Janus Henderson and Mubadala Capital have all brought funds onchain, betting blockchain infrastructure can streamline issuance, settlement and collateral management. The market for tokenized assets has grown rapidly in the past years to the current size of $35 billion, while Citi estimates the market could reach $5.5 trillion by 2030.
Trade finance is as another promising use case. Receivables represent real commercial obligations between businesses, allowing companies to move working capital more efficiently on blockchain rails while giving banks and financing partners a shared view of the asset.
South Korea has become one of the more active markets for corporate blockchain adoption. Earlier this month, carmaker Hyundai has begun using stablecoins for internal treasury transfers between its U.S. and Mexico operations, while stablecoin issuer Circle recently partnered with Kakao Group and Toss Bank to explore stablecoin payment infrastructure.
With the test on Injective, POSCO and LG CNS are extending that push into global trade finance. LG CNS has previously worked on the Bank of Korea's central bank digital currency pilot and operates tokenization platforms for KOSCOM and Mirae Asset Securities.
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Crypto Flows, Share and the Selective Rotation
Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Jul 22, 2026
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
POSCO International, the South Korean trading giant that pulled in $22.2 billion in revenue last year, is putting actual trade receivables on a blockchain. Not simulated ones. Not hypothetical test data. Real commercial invoices from real global subsidiaries, tokenized on the Injective network through a partnership with LG CNS.
The pilot was announced during a joint press briefing by POSCO and LG CNS, with both companies confirming a timeline to advance the solution to live production in 2026.
What the pilot actually does POSCO’s pilot aims to create a unified, transferable onchain record for each receivable, carrying its own compliance data, ownership history, and settlement instructions. Instead of emailing PDFs and reconciling spreadsheets across time zones, everyone looks at the same shared ledger.
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The goal is to reduce what are currently multi-day reconciliation cycles between counterparties and banking institutions. For a company operating at POSCO International’s scale, across dozens of global subsidiaries, even shaving a day or two off settlement times translates to meaningful improvements in working capital management.
LG CNS has led key phases of Korea’s wholesale central bank digital currency trials and built tokenized deposit platforms for the Bank of Korea involving seven major banks.
Why Injective, and why it matters for crypto Injective is a Layer 1 network purpose-built for financial applications. Enterprises are increasingly comfortable with shared, interoperable ledgers rather than permissioned chains like Hyperledger and R3 Corda.
This also fits a broader pattern emerging in South Korea specifically. Hyundai has already implemented stablecoins for internal treasury operations. The Bank of Korea has been actively exploring CBDC infrastructure.
The $35 billion question The total market value of tokenized real-world assets currently sits at approximately $35 billion. Citi has estimated that tokenized assets could grow to $5.5 trillion by 2030, roughly a 157x increase in about five years.
What investors should watch is whether this pilot attracts additional enterprise participants to the Injective ecosystem, whether LG CNS expands its blockchain infrastructure offerings beyond South Korea, and whether the Bank of Korea’s CBDC work eventually converges with these private-sector tokenization efforts.
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POSCO International is testing blockchain-based trade finance with LG CNS and Injective.
Summary
POSCO is testing tokenized receivables created from real trades between overseas subsidiaries and commercial counterparties. LG CNS and Injective support issuance, transfer, compliance controls and settlement on one shared ledger. POSCO plans production use after testing, but has not disclosed performance data or transaction values. The South Korean trading company has placed receivables from real commercial transactions into a proof-of-concept system that can issue, transfer and settle the claims onchain.
The trial uses trade data from POSCO International’s overseas subsidiaries and their counterparties, rather than simulated invoices. The companies aim to create one shared record for buyers, sellers and financing partners while keeping compliance rules linked to each digital claim.
POSCO tests real commercial receivables on Injective
Trade receivables are amounts that customers owe after a company delivers goods or services. Businesses often record the same invoice across separate systems. Each party must check documents and payment status before settlement.
CoinDesk reported that the pilot covers live trade between POSCO units and outside counterparties. The partners are using Injective, a layer-1 blockchain built for financial applications, to test the issuance, transfer and settlement of the claims. A Korean business report said the project also tests AI-based trade-document processing.
POSCO International recorded 32.37 trillion won in 2025 sales, according to its. Its operations cover steel, energy and battery materials. However, the companies have not disclosed the total value or number of receivables entered into the system.
A POSCO spokesperson said the proof of concept “validated the applicability of AI and blockchain technology based on real trade data and processes.” However, the companies have not published figures on processing speed, costs, error rates or settlement savings. POSCO plans to consider live production after the test phase later this year.
Shared ledger targets slow reconciliation work
The project aims to replace separate invoice records with a common ledger. Approved participants can view the same transaction status and ownership history. The system can also carry conditions that control who may receive or transfer a tokenized receivable.
This structure could reduce repeated checks when a shipment, invoice or payment moves between countries. It may also give banks and financing firms a clearer record when they assess a receivable for early payment. However, the pilot does not remove legal agreements, identity checks, accounting rules or local trade requirements.
Tokenization turns a financial or commercial claim into a digital record on a blockchain. In this case, the token represents money owed to POSCO International or one of its subsidiaries. It does not represent POSCO shares or give a holder ownership in the company.
The project has not announced an open market for the receivables or said whether outside investors will buy them. The current test focuses on business processes, transfers and settlement between approved parties rather than public trading.
LG CNS brings experience from Korean finance projects LG CNS serves as the technology partner. The LG Group company has built blockchain systems for financial institutions. It also took part in the Bank of Korea’s central bank digital currency work and operates tokenization platforms for Koscom and Mirae Asset Securities. (
Injective supplies the blockchain layer used to record and move the receivables. The partners have not disclosed how they divide data between onchain records and private company systems. They also have not explained what access controls protect sensitive commercial information.
POSCO International has already tested blockchain in corporate funding. In April, it announced South Korea’s first foreign-currency digital bond issued by a non-financial company. The company said blockchain reduced the bond’s settlement period from five days to three.
The receivables pilot moves that work into daily trade finance. Bonds raise funds from investors, while receivables arise from normal sales. Both projects use digital records to shorten processing and provide a shared view of ownership and settlement.
South Korean companies expand corporate blockchain tests The POSCO project follows other corporate blockchain trials in South Korea. As crypto.news previously reported, Hyundai Motor’s U.S. and Mexican operations completed a $20,000 treasury payment using USDT on Avalanche. The companies said the transfer took about seven minutes.
Meanwhile, Circle signed agreements with Kakao Group and Toss to study stablecoin payments, remittances and merchant settlement in South Korea. Separately, Mirae Asset placed tokenization, security tokens and stablecoins within the strategy for its newly renamed Digital X business.
POSCO’s pilot differs because it places a business claim onchain rather than sending a stablecoin payment. The receivable can carry ownership information and compliance conditions before payment occurs. A stablecoin may later serve as the settlement asset, but the companies have not announced that step.
The partners have not released technical documents, contract addresses or a production date. They also have not named participating banks or counterparties. POSCO is expected to decide whether to apply the system across more subsidiaries after completing the testing process.
US Dollar News: Fed and ECB Outlook Shape FX Markets The U.S. dollar, euro and British pound enter a pivotal week as investors prepare for the Federal Reserve’s July 29 to 30 meeting and the ECB’s decision last week while new data comes through. Most analysts expect that the Fed will leave rates where they are, although the market will be watching out for clues from Chair Jerome Powell given that the latest US data has confirmed the strength of the economy.
June retail sales were up by 0.2% on the month, while the control group increased by 0.4%, and initial claims for unemployment benefits dropped to 208,000, a three-month low, underlining the strength of the consumer and the labour market. This week brings out the second-quarter GDP, the PCE inflation print for June and July non-farm payrolls which could alter thinking around the second half of the year.
The ECB decided to keep its deposit rate at 2.25% as it sees inflation edging toward its 2% target while remaining data-dependent. ECB President Christine Lagarde said growth remains weak, with members continuing to assess the impact of the economic effect of trade and higher energy costs on the economic environment.
Sterling remains supported by expectations that the Bank of England will proceed cautiously after it kept Bank Rate at 3.75%, and it sees the UK policymakers juggle between curbing inflation and a steady wage-growth and a cooling labour market. UK mortgage approvals, consumer credit and business surveys are released this week as they provide evidence for the economy ahead of the next Bank of England meeting.
Dollar Index (DXY) Technical Analysis: Uptrend Holds Above Key Support Dollar Index Price Chart – Source: Tradingview The U.S. Dollar Index is maintaining a healthy uptrend after bouncing off support in the 100.50 zone along the uptrend line. Currently, the index trades at 101.28, keeping the 50-day EMA (101.12) and 100-day EMA (101.01) beneath the index level. The RSI is sitting at 53.
Resistance sits at 101.65, with further levels at 102.06 and 102.42. Support is found initially at 101.06, then at 100.50 and 99.92.
The index is trading above the 101.06 support line; if the index stays above this, bulls are in control. If the index moves above 101.65, it strengthens the bullish view and raises the prospect of a move to 102.06. If the index dips below the 100.50 support, it reduces bullish momentum and opens the prospect of a move to 99.92.
GBP/USD Technical Analysis: Recovery Faces Strong Resistance Zone GBP/USD Price Chart – Source: Tradingview GBP/USD is showing signs of stabilisation after moving down for quite some time. The pair is currently trading at $1.3333. It is attempting to stabilise just below a major resistance area. The 50-day EMA (1.3378) and 100-day EMA (1.3377) are both above it.
Support is initially found at 1.3305, then at 1.3218. Resistance is initially found at 1.3356, then at 1.3400 and 1.3430.
The index has not been able to recover the $1.3356 level; it remains under the overall pressure of sellers. If the index moves down through 1.3305, it could extend the losses towards 1.3218. However, if the pair closes above 1.3356, the downtrend weakens and the prospects for a rise to 1.3400 increase.
EUR/USD Technical Analysis: Bears Defend Key Triangle Resistance EUR/USD Price Chart – Source: Tradingview EUR/USD remains bearish after testing the top boundary of the triangle and the two moving average lines without being able to move past them. At present, the index is trading at 1.1395; the 50-day EMA (1.1408) and 100-day EMA (1.1420) are above it and the RSI is at 48.
Support is found initially at 1.1364, then at 1.1325. Resistance is initially found at 1.1410, then at 1.1443 and 1.1481.
The short-term bias remains bearish while EUR/USD trades below 1.1410. A fall below the 1.1364 level opens the prospect of a move to 1.1325. A move above the 1.1410 resistance line improves the outlook and increases the possibility of a move to 1.1443.
ING’s Francesco Pesole notes that EUR/USD has rebounded above 1.140 on lower Oil prices but argues the move looks optimistic without a clear de-escalation in geopolitical tensions. Pesole stresses that elevated European gas prices are hurting the Euro’s terms of trade, while upcoming Eurozone data are unlikely to deliver enough domestic support to offset Dollar-safe-haven and Fed-related pressures.
Gas prices and geopolitics weigh on euro"EUR/USD has bounced back above 1.140 as oil prices dropped sharply today. Still, that move looks somewhat optimistic given the absence of a clear de-escalation path. Any renewed military strikes could quickly send Brent back to $100/bbl and EUR/USD below 1.1380."
"Gas prices are another reason we remain cautious on EUR/USD unless tensions ease quickly. Even after today's decline, TTF is trading at €58/MWh, more than 30% above levels at the start of July and close to the March highs."
"So while Brent is nowhere near its peaks, gas is. Given its importance in eurozone energy imports, the euro's terms of trade – statistically the most important medium-term driver of EUR valuation – are also hovering near March lows and at levels comparable to 2023."
"Potential precautionary USD buying ahead of the FOMC may also weigh on the pair into Wednesday."
"On Friday, eurozone CPI is expected to rise above 3.0%, but with core inflation still near 2.5%, we do not think that will trigger aggressive hawkish repricing. Markets price 42bp from the European Central Bank by year-end, but that outlook should remain highly sensitive to ongoing oil volatility."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
EUR/USD enters the final week of July at 1.1369. Friday's modest decline in energy prices reduced expectations that the Federal Reserve could raise rates as early as its upcoming meeting, scheduled for Tuesday and Wednesday.
At the same time, the main currency pair remains very close to the monthly low recorded in late June. Markets continue to price in at least one Fed rate hike before the end of the year.
Inflation risks have risen following a renewed escalation in the US–Iran conflict. Restrictions on the movement of energy tankers in the Persian Gulf and the Red Sea have pushed oil and fuel prices higher.
Additional support for the dollar is coming from strong US economic data. S&P PMIs showed the fastest pace of private business activity growth this year. Meanwhile, the number of initial jobless claims fell at the fastest pace in nearly six decades, confirming the resilience of the labour market.
Technical analysis
On the H4 chart of EUR/USD, the market has formed a consolidation range around the 1.1389 level, currently extending between 1.1336 and 1.1413. This range is nearing completion. An upside breakout would suggest a corrective move towards 1.1420, followed by a decline to 1.1313. A direct downside breakout would open the way for a move to 1.1313. The MACD indicator supports this scenario, with its signal line below zero and pointing firmly downwards, reflecting continued bearish momentum.
On the H1 chart, the market has completed an upward move to the 1.1414 level. A consolidation range is currently forming below this level. Today, a move lower to 1.1390 is expected, followed by a move higher to 1.1420, and then a decline to 1.1370, with scope for the trend to extend to 1.1313. The Stochastic oscillator confirms this scenario, with its signal line below 80 and pointing downwards towards 20, indicating increasing short-term downside pressure.
ConclusionEUR/USD remains under pressure as it approaches the final week of July, hovering near monthly lows. The modest retreat in energy prices at the end of last week briefly reduced expectations of an immediate Fed rate hike, but markets continue to price in at least one increase before the end of the year. Renewed US–Iran tensions and supply disruptions in the Persian Gulf and the Red Sea have pushed oil prices higher, reinforcing inflation risks. Strong US economic data – including robust PMI readings and a sharp decline in jobless claims – continue to support the dollar. Technically, the pair may see a temporary corrective move towards 1.1420, but the broader bearish structure remains intact, with downside potential towards 1.1313. The Federal Reserve meeting this week will be the key catalyst.
Internetový módní gigant Shein se v prvním fiskálním čtvrtletí propadl do ztráty, když jeho dosavadní obchodní model zasáhlo zpřísnění dovozních pravidel ve Spojených státech. Konec výjimky umožňující bezcelní dovoz levných zásilek vedl k poklesu tržeb na klíčovém americkém trhu a přiměl společnost zvažovat zvýšení cen. Negativní dopad měly také vyšší logistické náklady a narušení dodavatelských řetězců v souvislosti s konfliktem na Blízkém východě. Výsledky přicházejí v citlivé době, kdy se Shein připravuje na vstup na hongkongskou burzu a snaží se přesvědčit investory o dlouhodobé udržitelnosti svého růstového příběhu.
Internetový prodejce levné módy Shein se v prvním čtvrtletí fiskálního roku propadl do ztráty. Mohly za to slabší tržby poté, co americký prezident Donald Trump zrušil osvobození malých balíčků od dovozního cla. Ztráta za duben až červen činila 99 milionů USD (2,1 miliardy Kč) ve srovnání s čistým ziskem 395 milionů USD ve stejném období předchozího roku. Společnost výsledky hospodaření zveřejnila v rámci příprav vstupu na burzu v Hongkongu, napsal server BBC.
Firma byla založena v roce 2012 v Číně, v současnosti ale sídlí v Singapuru. Své impérium vybudovala díky velmi levnému oblečení, široké nabídce produktů a také díky dravému marketingu.
Firma uvedla, že v reakci na zvýšená cla a daně zvažuje řadu možností, včetně zvýšení cen na americkém trhu, aby kompenzovala část zvýšených nákladů. Varovala také, že válka v Íránu negativně ovlivnila poptávku, zvýšila náklady a způsobila zpoždění dodávek na některých trzích.
Údaje za fiskální první čtvrtletí částečně odrážejí i účetní ztrátu 328 milionů USD kvůli změně účetního zacházení se speciálními investorskými akciemi. Tyto akcie je možné později převést na kmenové akcie a jejich hodnota se může před uvedením na burzu změnit.
Ze zprávy také vyplývá, že ve fiskálním roce do konce března 2026 měla firma 281 milionů aktivních zákazníků, což bylo o 16 procent více než o rok dříve. Tito zákazníci zadali více než jednu miliardu objednávek. Čistý zisk za loňský rok klesl o 38,7 procenta na 2,06 miliardy USD. Tržby stouply o osm procent na 41,85 miliardy USD, v roce 2024 však vzrostly až o 20,7 procenta.
Čínská komise pro regulaci cenných papírů (CSRC) na počátku července dala firmě Shein souhlas k prodeji akcií v Hongkongu. Nabídka se má uskutečnit v nadcházejících měsících. Dřívější pokusy o uvedení akcií firmy na burzách v New Yorku a Londýně selhaly. Firma zatím neuvedla, kolik akcií plánuje nabídnout, jejich předběžnou cenu, očekávaný výnos ani harmonogram jejich uvedení na trh. Agentura Reuters s odvoláním na zdroje tento měsíc uvedla, že hodnota firmy by se mohla pohybovat v rozmezí 40 miliard až 50 miliard USD.
Údaje ukazují dopad rozhodnutí prezidenta Trumpa, kterým USA ukončily globální výjimku z cel pro levné zásilky. Opatření vstoupilo v platnost 29. srpna 2025 a rozšířilo dřívější omezení zaměřené pouze na zboží z Číny a Hongkongu na zásilky z celého světa. Takzvaná výjimka de minimis umožňovala dovoz zboží v hodnotě do 800 USD bez placení cel a využívali ji zejména američtí zákazníci nakupující levné výrobky přes internetové platformy, jako jsou Shein nebo Temu. Podle Bílého domu byl systém zneužíván k obcházení celních pravidel a k pašování nelegálních látek, včetně syntetických opioidů, do USA.
Tržby firmy v USA v prvním čtvrtletí klesly o 14,3 procenta na 2,04 miliardy USD. USA měly na celkových tržbách podíl 22,5 procenta.
Evropská unie tento měsíc zavedla poplatek tři eura na levné zásilky z internetového obchodu dovážené ze zemí mimo EU. Opatření má podle EU pomoci omezit nekalou konkurenci, kterou podle Bruselu představuje zejména příliv levného zboží z Číny. Evropa se na celkových tržbách Sheinu podílí zhruba třetinou.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of VST either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
LONDON--(BUSINESS WIRE)--The latest credit card data analysis by global analytics software leader FICO (NYSE: FICO) highlights a typical decline in spending and increase in payment rates following the Easter period. However, year-on-year analysis shows delinquency rates for accounts with three missed payments have increased 17.1%. With seasonal spending expected to increase over the summer months, in part due to rising fuel prices, FICO urges heightened monitoring of late payments and pre-delin.
The British Pound (GBP) is up 0.15% to near 1.3345 against the US Dollar (USD) during the European trading session on Monday. The GBP/USD pair gains as the US Dollar faces selling pressure due to renewed hopes of a United States (US)-Iran diplomatic solution, following the pause in military aggression in the Middle East.
Over the weekend, the US military confirmed that further attacks on Iran would be unnecessary as the target list has been exhausted.
In the European trade, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.25% lower to near 101.20.
Meanwhile, US ambassador to the United Nations (UN) Mike Waltz also said in an interview with Fox News that President Donald Trump wants to give negotiations a “little bit of room”, while forces remained locked and loaded, The Guardian reported.
This week, investors will pay close attention to monetary policy announcements by both the Federal Reserve (Fed) and the Bank of England (BoE) on Wednesday and Thursday, respectively. Both central banks are expected to leave interest rates unchanged.
GBP/USD technical analysis
GBP/USD trades higher at around 1.3344, but is still close to the 20-day Exponential Moving Average (EMA), which is at 1.3370, indicating a neutral near-term outlook. The formation of a Volatility Contraction Pattern (VCP) also suggests that the overall trend is neutral.
The Relative Strength Index (14) near 47.00 reflects lackluster momentum rather than a decisive directional push.
On the topside, immediate resistance is located at the descending trend-line zone referenced near 1.3467, followed by the July 15 high at 1.3558. On the downside, last week's low at 1.3300 is the key support level, with June's low at 1.3140 remaining a major cushion. A breakdown below 1.3140 would expose the pair to the psychological level at 1.3000.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Economic Indicator BoE Interest Rate Decision The Bank of England (BoE) announces its interest rate decision at the end of its eight scheduled meetings per year. If the BoE is hawkish about the inflationary outlook of the economy and raises interest rates it is usually bullish for the Pound Sterling (GBP). Likewise, if the BoE adopts a dovish view on the UK economy and keeps interest rates unchanged, or cuts them, it is seen as bearish for GBP.
Gold – Chart Gold has rebounded strongly from the rising trendline and reclaimed both the 50-EMA ($4,072) and 100-EMA ($4,066), signalling improving short-term momentum. The current Gold price sits at $4,103. The RSI is well above 60 levels, showing the momentum is positive but not yet overbought.
The trendline resistance for the entire move has been a challenge for the bulls for several times this month. The initial resistance zone starts at $4,139 and follows up at $4,200, then $4,246 levels. On the downside, the first support level is at $4,067, followed at $3,998.
The break above $4,139 zone will keep up the bullish breakout and target up at $4,200 levels. However, the failure below the descending trend line can push the prices back towards the $4,067-$3,998 support zone, before buyers try to bounce again.
TL;DR:Will the Fed and BoJ jointly surprise markets this week? USD/JPY, already at a 40-year high above 163, faces amplified two-way risk from their combined policy signals.
Why This Week Matters More Than a Typical Central Bank Cycle Three major central bank decisions are packed into little more than 60 hours: the Federal Reserve announces policy Wednesday, the Bank of England follows Thursday, and the Bank of Japan concludes its meeting Friday. Markets are unlikely to distribute their attention evenly across all three. The Fed and BoJ have the greatest potential to reshape rate expectations, and the interaction between the two could make USD/JPY the week’s most sensitive pair.
With the pair already trading at a 40-year high, even modest surprises from either central bank could trigger an outsized reaction. That asymmetry — high positioning risk meeting high event risk — is what separates this week from routine policy meetings.
The Fed: A Unanimous Hold, But a Contested Path Ahead The Fed is universally expected to leave the federal funds target range unchanged at 3.50–3.75% on Wednesday. Reuters’ July 21 survey showed all 104 economists expecting no policy change, while futures markets assign only around a one-third probability of an immediate hike.
Yet that headline consensus masks a more important debate over the path ahead. Futures continue to price:
Roughly a 75% probability of a September hike Better than even odds of two increases before year-end That pricing is considerably more aggressive than economists’ consensus for rates to hold steady through December — a disconnect that leaves Treasury yields particularly sensitive to any signal that policymakers are growing less comfortable waiting.
What to Watch: The Voting Breakdown and Warsh’s Tone The meeting’s most important signal may not be the rate decision itself but the voting breakdown. Minutes from the previous FOMC meeting revealed several policymakers were already prepared to support an immediate rate increase before ultimately agreeing to wait for more evidence. Any rise in dissenting votes favoring tightening would give investors a concrete measure of how quickly sentiment inside the Committee is shifting.
Markets will also need to adjust to Chair Kevin Warsh’s communication style. Unlike predecessor Jerome Powell, Warsh has consistently rejected detailed forward guidance. Investors are likely to focus instead on how he characterizes labor market resilience, whether he places greater weight on inflation risk from higher oil prices, and whether he pushes back on the market’s aggressive tightening expectations.
The BoJ: A Quiet Hold With a Loud Subtext Attention then shifts to Tokyo, where the BoJ is also widely expected to leave its policy rate unchanged at 1.00%. The real focus is the quarterly Outlook Report and Governor Kazuo Ueda’s assessment of whether inflation and growth data justify a faster normalization cycle.
Reuters’ latest survey found an overwhelming majority expecting no move this week but anticipating another hike before year-end, with October and December emerging as the most likely windows. Bloomberg has separately reported that some BoJ officials are becoming more receptive to accelerating the pace of tightening if persistent yen weakness keeps feeding domestic inflation.
Even without immediate action Friday, upward revisions to inflation forecasts or stronger confidence in the outlook would reinforce expectations the Bank could move sooner than markets currently anticipate.
Why USD/JPY Carries Unusually High Event Risk That combination gives USD/JPY unusually high event risk from both directions:
On the US side, the key question is whether the Fed signals an approaching rate hike On the Japanese side, investors are watching for stronger evidence that policy normalization is gathering pace A hawkish outcome from either central bank would normally move the exchange rate on its own. If both occur in the same week, the resulting repricing could be considerably larger than either event in isolation.
Positioning further amplifies that risk. USD/JPY has already climbed above 163 — its highest level in four decades — despite repeated verbal intervention from Japanese officials. Earlier currency intervention totaling JPY 11.73 trillion only stabilized the exchange rate for roughly six weeks before the broader yen selloff resumed.
ActionForex analysis suggests that experience has made markets increasingly reluctant to challenge the underlying interest-rate differential unless accompanied by a genuine shift in monetary policy — meaning this week’s decisions may prove far more influential than official rhetoric alone.
ActionForex’s Technical View on USD/JPY Technically, USD/JPY appears to have formed a temporary top at 163.97 following today’s retreat. Any correction should stay relatively shallow and brief as long as the 55 4H EMA, currently at 162.93, continues to hold.
A decisive break above 163.97 would resume the broader uptrend from 155.01 and target 138.2% projection of the 152.25-160.71 advance measured from 155.01 at 166.07.
On the downside, sustained trading below the 55 4H EMA would suggest the rally from 155.01 has entered a corrective phase. That would shift focus toward the 160.46 support cluster, which includes the 38.2% retracement of 155.01 to 163.97.
Key Takeaways The Fed is expected to hold rates at 3.50–3.75%, but futures price a 75% chance of a September hike — well ahead of economist consensus The voting breakdown and Chair Warsh’s tone on inflation and labor resilience matter more than the headline decision The BoJ is expected to hold at 1.00%, but the Outlook Report and Ueda’s language on inflation could signal an accelerated tightening timeline USD/JPY, at a 40-year high above 163, faces amplified two-sided risk if both the Fed and BoJ surprise hawkishly in the same week 163.97 is the key upside pivot; a break above targets 166.07, while a failure to hold the 55 4H EMA (162.93) opens the 160.46 support zone
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.
Skupina Colt CZ oznámila, že na základě implementačního ujednání k mezivládní dohodě o spolupráci v oblasti obrany mezi Českou republikou a Černou Horou dodá černohorským ozbrojeným složkám produkty společností Česká zbrojovka, Sellier & Bellot a 4M Systems.
Zakázka se zaměřuje především na dodávky útočných pušek CZ BREN 3, pistolí, samopalů, odstřelovacích pušek, souvisejícího vybavení a různých druhů malorážové munice.
„Jsme rádi, že se můžeme stát partnerem další členské země NATO při modernizaci jejích ozbrojených sil. Zároveň nás těší, že puška CZ BREN 3 bude nově zavedena do výzbroje členského státu Aliance. Vnímáme to jako potvrzení důvěry v kvalitu našich výrobků i v český obranný průmysl,“ uvedl generální ředitel Colt CZ Group Radek Musil.
Akcie Colt CZ Akcie Colt CZ (BAACZGCE) dnes na pražské burze rostou o 0,23 % na 884 Kč, na RM-SYSTÉMu pak posilují o 0,46 % na 882 Kč.
Nový týden nabídne celou řadu kvartálních výsledků. Ze společností obchodujících se na pražské burze bude reportovat Komerční banka, Erste a CTP. Ze zahraničních titulů bude pozornost upřena především na technologické giganty Microsoft, Metu, Amazon a Apple.
Přehled vybraných společností reportujících své výsledky v tomto týdnu (zdroj: síť X - Earnings Whispers)
Pondělí (27. 7.) Německo (před trhem): Hochtief
Eurozóna (po trhu): LVMH
Úterý (28. 7.) USA (před trhem): Coca-Cola, Boeing, UPS, Sherwin-Williams, American Tower Corp, PayPal
USA (po trhu): Mondelez International, Visa
Eurozóna (před trhem): Safran, Air Liquide, EssilorLuxottica
Německo (před trhem): Mercedes-Benz, TeamViewer
Středa (29. 7.) USA (před trhem): Procter&Gamble, SoFi
USA (po trhu): Meta Platforms, Microsoft, Qualcomm, Starbucks, Lam Research, General Dynamics
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, /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of GoDaddy Inc. (NYSE: GDDY) resulting from allegations that GoDaddy may have issued materially misleading business information to the investing public.
So What: If you purchased GoDaddy securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/cases/godaddy-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
What is this about: Rosen Law Firm is investigating potential civil securities claims.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. The Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
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[email protected]
www.rosenlegal.com
Německé akcie měřené indexem DAX otevírají týden pozitivně.
U Airbusu investoři sledují návrh amerického úřadu FAA na zpřísnění požadavků pro letouny A220-100 a A220-300. Regulátor chce nahradit směrnici z roku 2024 a požaduje aktualizaci programů údržby a kontrol kvůli riziku snížení strukturální integrity a ovladatelnosti letounů. Návrh se má týkat 184 strojů registrovaných v USA, přičemž FAA odhaduje náklady na 7 650 USD na jednoho provozovatele. Akcie Airbusu přidávají 1,32 %.
SAP (+3,2 %) zahájila další část programu zpětného odkupu akcií v objemu až 2,6 mld. EUR. Odkup potrvá do 27. ledna 2027 a je součástí programu v celkové hodnotě až 10 mld. EUR, který má skončit na konci roku 2027.
Index DAX +1,34 % na 25434,56 b. Nejsilnější akcie Změna Nejslabší akcie Změna SAP (SAP) +3,2 % RWE (RWE) -1,1 % Zalando (ZAL) +2,7 % HOCHTIEF AG (HOT) -1,1 % MTU Aero Engines (MTX) +2,5 % E.ON (EOAN) -0,9 % Vonovia (VNA) +2,3 % BASF (BAS) -0,3 % Volkswagen (VOW3) +2,3 % Deutsche Boerse (DB1) +0,2 %
Zdroj: Bloomberg
Marek Krejčiřík
Fio banka, a.s.
Prohlášení
Související odkazy Frankfurtská burza se obchoduje v zelených hodnotách Společnost SAP za 2Q reportovala růst výnosů z cloudu nad očekávání Frankfurt uzavřel první polovinu roku v zelených číslech Frankfurtská burza otevírá čtvrteční obchodování mírným růstem Německé akcie ve čtvrtek vzrostly
[Updated July 27, 2026, 2:16 UTC: Revised to reflect clarifications from a Garden Finance spokesperson.]
Garden Finance said an independent solver’s off-chain database was compromised in an incident that prompted the cross-chain bridge and atomic swap protocol to temporarily take its app offline.
On Sunday, Blockaid said an attacker drained about $450,000 in USDT from Garden’s hash time-locked contracts (HTLC) on Ethereum, Base, Arbitrum and BNB Smart Chain. HTLCs are time-bound escrow contracts that Garden uses to facilitate atomic swaps between Bitcoin and assets on other networks. Blockaid described the exploit as ongoing and published addresses linked to the attacker and affected contracts.
However, a Garden Finance spokesperson told Cointelegraph that neither the protocol nor its HTLC smart contracts had been compromised. The company said the attacker breached the off-chain database of an independent solver and inserted fraudulent transaction records, causing the solver to release funds for swaps that had not been funded by the counterparty.
Garden said no user funds were lost or placed at risk and that the incident affected only solver-owned assets. The company is still confirming the total amount, assets and networks involved. It said services were paused as a precaution while the affected infrastructure was isolated and reviewed.
Blockaid acknowledged Cointelegraph’s request for comments.
Garden works with security firms to trace fundsGarden said it is working with zeroShadow, Quantstamp and Blockaid to trace and recover the funds. The protocol expects to restore services shortly, subject to completing security checks, but did not give a specific timeline.
“Garden’s protocol and HTLC smart contracts were not compromised, and no user funds were lost or at risk,” the company told Cointelegraph, adding that the incident was isolated to the off-chain infrastructure of one solver in its network of independent solvers.
The company also pointed to its recent SOC 2 Type II attestation as evidence of its investment in security and operational controls. Garden told Cointelegraph that its immediate priorities are securing the affected systems, tracing the solver’s funds and ensuring services resume only after the relevant reviews are completed.
The incident follows an October 2025 breach in which an attacker stole about $11.4 million after compromising the operating environment of one of Garden’s solvers. Garden said that incident also did not affect its protocol contracts or put user funds at risk.
Magazine: Inside the ‘fake police raid’ that forced a $1M Bitcoin transfer
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Last October, Rigetti Computing (RGTI -4.71%) was priced near $56. Today it's around $14.
Is there more pain ahead for shareholders, or are the hard times over? Let's game out three scenarios to get a better idea about what's coming next for Rigetti's stock.
Image source: Getty Images.
The base case is a milestone-by-milestone grind forward The most likely outcome for Rigetti over the next 18 months or so is that it will follow the same script as in recent quarters.
That means it'll likely be delivering its milestones mostly on time with occasional slippage, and getting federal money tied to its research and development (R&D) checkpoints, and that its revenue will continue to be minuscule next to its spending. Three numbers tell the whole story about what to expect: In the first quarter, it brought in just $4.4 million of revenue, while spending $19.9 million on R&D, and with $569 million of cash and short-term investments on hand.
One significant catalyst on the map is the plan to deliver a U.K.-based 1,000+ qubit system in three to four years, but there could also be a few other major catalysts in the meantime.
Today's Change
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For instance, Rigetti and the U.S. Department of Commerce signed a letter of intent in May that could deliver up to $100 million of government funding over the coming three years, with the government also planning to take an equity stake. The bigger point is that Rigetti currently has plenty of federal validation, cash, and, in all probability, upcoming dilution of its shares -- all of which is very familiar territory across quantum computing stocks.
The other possibilities diverge sharply In a bullish scenario, Rigetti's next qubit milestone is met as planned, and the $8.4 million contract with India's Centre for Development of Advanced Computing is delivered in the second half of 2026. Its cloud service on Azure grows into a durable stream of recurring revenue rather than being essentially a bill for a tech demo or pilot program. That'd mean the company would generate a handful of positive headlines while demonstrating real technical competence that actual customers find useful. The stock might take a while to respond to the progress, but eventually, it will rise.
The bear case is an inversion of the bull case, but it's moderately less likely than the base or bull cases.
It calls for the next milestone payments not being reached, or being reached very late -- like the delay with the launch of its flagship 108-qubit machine -- while government money is allocated elsewhere, all amid a languishing stock price that gets pummeled by new share issuance to shore up cash reserves.
This is all to say that Rigetti's stock probably isn't going to be one with a strong financial fundamentals narrative anytime soon. So keep an eye on its progress toward catalysts and with securing new funding and collaborations, as those will be the main drivers for the stock for at least the next couple of years.
On 21 July, Stats NZ reported an acceleration in inflation: the Consumer Price Index rose 1.5% in the second quarter, while the annual inflation rate climbed to 4.1%, its highest level in more than two years and slightly above analysts’ consensus forecast of 4.0%. The increase was driven primarily by higher fuel prices amid tensions in the Middle East. The data was released after the Reserve Bank of New Zealand raised the official cash rate to 2.50% on 8 July, reinforcing expectations of further monetary tightening in September. However, the impact proved short-lived, as escalating tensions between the US and Iran boosted demand for the US dollar as a safe-haven asset, causing the New Zealand dollar to surrender part of its recent gains during the second half of the week.
Technical Outlook
On the four-hour chart, NZD/USD has been developing a short-term uptrend since 26 June, with a trendline forming as the pair advanced towards 0.5870, where resistance emerged. The pair subsequently broke below the trendline, fell beneath the lower boundary of the current market profile and declined to the 0.5765 area, where the green support level is now located. Following a rebound from this zone, the pair moved on to test the lower boundary of the market profile at 0.5810. If this level holds and the price turns lower, the green support at 0.5765 could provide support. Should the pair continue to rise, attention may return to the POC area at 0.5840.
It is worth noting the close proximity of the upper boundary of the market profile at 0.5860 and the red resistance zone at 0.5870, making this a potentially strong resistance area. The RSI + MAs indicator currently reads 46, 37 and 46. It is also worth noting that the slower moving average has yet to leave the neutral zone, while the RSI briefly entered oversold territory before returning to neutral, casting doubt on the strength of the current breakout.
Summary The pair’s near-term direction will likely depend on whether sellers can defend the lower boundary of the market profile. From a fundamental perspective, interest in the pair will hinge on whether the support provided by the stronger US dollar amid tensions in the Middle East proves more durable than the positive impact of New Zealand’s unexpectedly strong inflation data.
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Obchodní války Donalda Trumpa začínají připomínat „telenovelu“, ve které se nepozorný divák dokáže lehce ztratit. Loni v červenci, na Trumpově golfovém hřišti ve skotském Turnberry, sice oznámili americký prezident a šéfka Evropské komise obchodní dohodu. Rok poté je však vidět, že „obchodní příměří“ platí a platit bude pouze do té doby, dokud bude Washingtonu vyhovovat.
Co tedy konkrétně ukázal uplynulý týden? Na první pohled přinesl dobrou zprávu v tom, že základní clo na vývoz z Evropy do USA zůstalo na 10 % (což je nižší úroveň, než má řada jiných zemí včetně Japonska, Švýcarska nebo Koreje). Na druhou stranu ovšem ukázal tvrdý návrat do reality ve chvíli, kdy Donald Trump „vstřebal“ čerstvě uvalenou pokutu na Google a začal vyhrožovat Evropské unii novým šetřením.
Nad tím nelze jednoduše mávnout rukou. Evropu by mohlo bolet otevření otázky některého z pro ni citlivých sektorových cel – například cla na automotive na 15 % nejsou „vytesána do kamene“ a fungují jen díky aktuální ochotě USA respektovat obchodní příměří (velká část světa čelí clům 25 %). Stejně tak originální léky z Evropy budou zatíženy díky příměří pouze 15% sazbou namísto možných až 100 % – generika jsou z cla vyňata. Navíc je Evropa spolu s řadou jiných zemí součástí dalšího Trumpova šetření podle článku 301 o „nadkapacitě ve výrobě“. Na jeho základě – jak minulý týden ukázalo šetření o nucené práci – se celní zátěž reálně navyšovat dá.
Je také zřejmé, že Donald Trump nadále hodlá celní nástroje používat i k prosazování mimo-obchodních cílů – včetně obrany amerických technologických gigantů. Ty americká administrativa bere jako nástroj k prosazování technologické dominance vůči hlavnímu strategickému rivalovi – Číně. Donalda Trumpa proto rozčilují jak evropské pokusy o vybudování nezávislé AI infrastruktury, tak především vynucování digitálních pravidel a pravidel hospodářské soutěže, které často dopadají na hlavy amerických technologických šampionů.
Uplynulý týden tak spíše než uklidnění přinesl (tak, jak to u správných telenovel bývá) zárodek nového dramatu. Unie sice na první pohled dostala lepší základní celní sazbu, než čekala, Donald Trump však s Evropou v řadě věcí spokojen není a cla přes veškeré peripetie s Nejvyšším soudem zůstávají důležitým nástrojem prosazování jeho zájmů.
TRHY Koruna
Pokles cen ropy a slabší dolar se budou koruně na začátku tohoto týdne líbit. V dalším průběhu budeme na domácí půdě zvědaví primárně na výsledek domácího HDP za Q2 – očekáváme zrychlení dynamiky na 0,6 % q/q (lehce nad odhadem trhu) tažené zejména domácí poptávkou (i když zahraniční by již neměla přispívat tak negativně jako v Q1). Současně mohou investoři bedlivěji sledovat jakékoli výroky centrálních bankéřů před blížícím se zasedáním ČNB. Zatím mluvil radní Jan Kubíček, který platí za jeden z jestřábích hlasů v bankovní radě – i když nevylučuje ještě jeden růst sazeb, zatím s ním nespěchá. Podle nás bude vše záviset na inflačním výhledu na příští rok, který se při stávajících cenách zemního plynu může dál zhoršovat.
Eurodolar
USA v pátek zastavily vojenské útoky na Írán a daly tak prostor diplomacii, což má za následek nižší ceny ropy a pozitivní povíkendový impulz pro eurodolar.
Zprávy z Perského zálivu (včetně těch z Rudého moře) budou udržovat ropu i eurodolar v napětí, ale jinak by hlavní slovo měla mít tento týden data a centrální banky. Dnes ještě sice nepůjde o top makro zprávy, ale i tak mohou být německé Ifo i americké durables zajímavé.
According to Bitget market data, the Euro Stoxx 50 index rose 0.9%, Germany’s DAX index gained 1.3%, the UK’s FTSE 100 index rose 0.7%, Italy’s FTSE MIB index climbed 0.6%, and Spain’s IBEX 35 index advanced 1%.
8 minutes ago
Changxin Technology closes up 465.82% on its first day of listing.
China's A-share market closed with gains: The ChiNext Index rose over 3%, the Shenzhen Component Index and the Beijing Stock Exchange 50 Index both climbed more than 2%, while the Shanghai Composite Index increased by 1.15%. Newly listed N-Changxin closed up 465.8% on its debut, setting multiple A-share records, with a total market capitalization of 3.28 trillion yuan.
8 minutes ago
Storj’s token price has seen a continuous gradual decline, dropping 15% in the past 24 hours following its bankruptcy announcement.
According to HTX market data, Storj’s token price has been in a sustained downtrend after the project’s bankruptcy announcement, falling 15% in 24 hours. BlockBeats previously reported that Storj Labs, the parent company of decentralized cloud storage project Storj, has filed for voluntary Chapter 11 bankruptcy protection under U.S. bankruptcy code to resolve historical debts and continue operations.
8 minutes ago
Japan and South Korea's stock markets closed higher across the board.
According to Bitget market data, Japan’s Nikkei 225 index closed up 0.5% at 64,931.19 points. Japan’s TOPIX index rose 1.4% to end at 4,066.07 points. South Korea’s KOSPI index closed up 0.97% at 6,755.74 points.
8 minutes ago
Hyperliquid’s testnet has launched the ‘Stars’ feature, supporting whitelisted trading for HIP-3 DEX addresses.
Hyperliquid’s testnet recently rolled out a new feature dubbed "Stars". This feature introduces an optional transaction address whitelist mechanism for the HIP-3 DEX, enabling deployers to restrict opening or adding positions exclusively to whitelisted addresses. Currently, the testnet whitelist has a cap of 10,000 addresses; unauthorized addresses can still deposit funds into accounts and submit only position reduction orders to close or cut existing positions. Community analysts believe this feature is set to expand the HIP-3 DEX’s use cases. For instance, tokenized stocks, real-world assets (RWAs), institutional indices, and other regulated products can use the address whitelist to open trading only to users who have completed KYC or meet eligibility requirements. New markets can also be tested first with market makers, partners, or community members, reducing risks of spam trading, wash trading, or malicious manipulation in early market stages. The design allowing non-whitelisted users to continue reducing positions also prevents users from being unable to exit holdings due to permission limits. Notably, the "Stars" feature does not change Hyperliquid’s base layer permissionless nature—it adds an optional access control function that developers can enable or disable as needed. This means scenarios like DAOs, trading clubs, private funds, or partner-exclusive markets can build closed trading markets with access mechanisms while retaining Hyperliquid’s advantages in matching engines and settlement layers. The feature remains in the testnet phase, and the official has not announced its specific use cases. Future applications will need to be confirmed after the mainnet launch and further developer documentation is released.
8 minutes ago
WTI crude oil falls below $83 per barrel, down nearly 7% on the day.
According to Bitget market data, WTI crude oil has fallen below $83 per barrel, down nearly 7% on the day. Brent crude is currently down 6.6% at $86.99 per barrel.
Data: Tokens like SUI, EIGEN, and FF to see major unlocks next week, with SUI unlocking nearly $10 million
Token Unlocks data shows that tokens such as SUI, EIGEN, and FF will undergo large unlocks next week, including: Sui (SUI) will unlock approximately 13.72 million tokens on August 1 at 8:00 AM Beijing time, representing about 0.34% of the circulating supply and worth around $9.9 million; EigenCloud (EIGEN) will unlock about 36.82 million tokens on August 1 at 12:00 PM Beijing time, representing about 5.79% of the circulating supply and worth roughly $7.6 million; Falcon Finance (FF) will unlock about 102 million tokens on July 29 at 9:00 PM Beijing time, representing about 3.53% of the circulating supply and worth roughly $6.2 million; Kamino (KMNO) will unlock about 229 million tokens on July 30 at 8:00 PM Beijing time, representing about 2.97% of the circulating supply and worth around $4.1 million; Ethena (ENA) will unlock approximately 40.63 million tokens on August 2 at 3:00 PM Beijing time, representing about 0.47% of the circulating supply and worth around $3.5 million.
At least 29 crypto exchange apps blocked from new installs on Google Play in South Korea
In addition to OKX and Bybit, at least 29 other overseas crypto derivatives exchange apps can no longer be newly installed from the Google Play Store in South Korea, including MEXC, KuCoin, BingX, Gemini, BTCC, Phemex, Bitmex and others. Reports indicate that when searching for these apps on the Play Store, they appear as unavailable or display prompts such as "not available in your region." Of these 29, 14 had previously been identified by South Korea's FIU as unregistered VASPs and reported to law enforcement, while another 15 had not been reported but were still blocked by the Play Store. Since January this year, Google has, per its own policies, suspended regional support for apps of virtual asset service providers not registered with the FIU. The Play Store removal does not affect access to or installation of these exchanges via web or Apple's App Store.
U.S. CFTC warns prediction markets against using template contracts for certification, issues guidance on self-certification of event contracts
The Market Regulation Division of the U.S. Commodity Futures Trading Commission (CFTC) issued new guidance, calling out prediction market-related platforms such as Kalshi, Coinbase, Polymarket, and Crypto.com for overly relying on "template-style" batch filings when self-certifying event contracts. The CFTC explicitly requires that institutions may not submit generic template certifications and must provide specific terms, settlement methods, data sources, and compliance analysis for each category of event contract; only closely related event contracts may be submitted together as a single "class." The CFTC stated that current simplified filing practices undermine its ability to assess whether various event contracts comply with core regulatory principles. Meanwhile, the CFTC on the same day agreed to extend the "dormant" registration status of Kraken Derivatives Exchange, allowing it the possibility of resuming operations in the future following its acquisition of Bitnomial.
WEMIX contract suspected of security issue, project team says investigation underway
The project team says it has identified a potential security issue involving a WEMIX contract and is currently investigating. WEMIX stated that further explanation and response measures will be announced after details are confirmed, and reminded users to temporarily only refer to official channels for updated information.
Days before BitMart's closure announcement, on-chain reserves dropped from about $12 million to roughly $2.3 million
According to DefiLlama CEX transparency data, in the days before crypto exchange BitMart announced its closure, its on-chain public asset reserves dropped sharply, from approximately $12 million on the 12th of this month to about $2.31 million on the 26th. Currently, its on-chain assets are only $1.89 million: approximately $815,000 on Ethereum, $660,000 on Solana, $362,000 on BSC, $37,000 on Starknet, and only about $17,000 on Bitcoin.
Changxin Technology lists today, maximum single-lot profit exceeds ¥20,000
Changxin Technology will officially land on the STAR Market with an issue price of ¥8.66 per share. Based on an average IPO pop of 278.01% for all new stocks, the single-lot profit for Changxin Technology would be around ¥12,000; based on the average 466.67% pop for STAR Market IPOs, the single-lot profit would be about ¥20,200. Institutions noted that the new stock sector recently saw a phased intraday rebound, with panic sentiment easing. Reviewing current new stock cycle indicators, pricing and sentiment metrics have basically pulled back to neutral or slightly below-neutral levels for the year, and the rapid release of peak risk may be coming to an end; the new stock sector may potentially enter a volatile consolidation trend with a relative equilibrium between longs and shorts. However, it should be noted that the new stock sector may need more time to regain strength, requiring cycle indicators to continue converging and stabilizing on the one hand, and for the divergence between bulls and bears to gradually narrow on the other.
WEMIX contract ownership breached, over 5.22 million WEMIX minted, funds bridged to Ethereum and BSC
South Korean blockchain gaming platform WEMIX provided an update on the abnormal transactions and response measures. Investigation results show that contract ownership related to WEMIX was breached, and the attacker minted approximately 5,225,525 WEMIX$ without authorization, which were subsequently swapped for about 30,736 WEMIX and 724,198.27 USDC.e. The stolen USDC.e was transferred via bridges to Ethereum and BSC, exchanged for assets such as ETH and USDT, and partially deposited into centralized exchanges. The attacker's wallet and fund flows have been traced, and requests for freezing are being made to exchanges and stablecoin issuers. The exact cause is still under investigation, with the team and external experts conducting a comprehensive review while also inspecting related and similar contracts. Market data shows the WEMIX token price is down 16.65% over the last 24 hours.
Storj parent Storj Labs files for financial restructuring; operations, services and network to run as usual
Cloud storage platform Storj's parent company Storj Labs has filed a petition under Chapter 11 of the U.S. Bankruptcy Code, aiming to resolve certain legacy debts. Business will continue as usual during the restructuring without any service interruption to its customers, and the plan is for the restructured company to be co-owned by management, the token community, and investors.
Changxin Technology stock surges over 419%, hitting a high of ¥49.88
Market quotes show Changxin Technology stock opened at ¥49.50 and now trades at ¥47.76, representing an increase of roughly 419.63% over the issue price of ¥8.66 per share. The stock reached a high of ¥49.88, bringing its total market cap to ¥3.18 trillion.
BitMart withdrawals remain open but only 58 wallets withdrew in past day; no withdrawal requests for nearly 8 hours
BitMart has announced its closure, but the withdrawal function remains open. Over the past 24 hours, only 58 wallets made withdrawals, for a total amount of about $805,000. In the past 8 hours, BitMart processed no withdrawal requests.
Midjourney acquires social astrology app Co-Star, completing its first acquisition
AI image generation company Midjourney has acquired social astrology app Co-Star, with specific deal terms not disclosed. This is Midjourney’s first acquisition since its founding. Co-Star currently has about 4.3 million monthly active users, with its main function helping users generate personal astrological birth charts that can be shared with friends in the app. The app combines artificial intelligence with a human team to provide users with horoscopes, compatibility analysis, and other astrological advice. All 24 employees of the Co-Star team have joined Midjourney, and founder Banu Guler now serves as Midjourney’s Chief Design Officer, while rebuilding a cross-functional design, product, and front-end team. The Co-Star app will continue to operate under Banu.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
WEMIX says attacker moved about $724,000 after contract breach WEMIX suspended bridges, liquidity-pool trading and several services after an attacker compromised a WEMIX$-linked contract and moved 724,198 USDC.e.
Layer-1 blockchain network WEMIX said an attacker moved about 724,000 in USDC.e tokens after compromising ownership of a contract linked to its WEMIX$ stablecoin and issuing tokens without authorization.
The abnormal transactions occurred on Sunday at 9:17 UTC, according to a preliminary incident update from WEMIX. The attacker issued about 5.23 million WEMIX$, which was converted into 30,736 WEMIX and 724,198.27 USDC.e. The USDC.e was then bridged to Ethereum and BNB Smart Chain before being exchanged for assets including Ether and Tether’s USDT and distributed across multiple addresses.
WEMIX said some of the funds were deposited into centralized exchanges. The company identified the attacker’s wallets and requested asset freezes and assistance from exchanges and stablecoin issuers, adding that some exchanges had already frozen addresses linked to the incident.
The company temporarily suspended all bridges connected to its layer-1 network, WEMIX3.0, including Chainlink CCIP and the PLAY Bridge. It also suspended trading in affected liquidity pools, withdrew foundation-provided liquidity, and paused services including the WEMIX$ Module and PNIX decentralized exchange.
WEMIX said the cause and full impact remain under investigation and warned that the preliminary figures could change.
Cointelegraph contacted WEMIX for additional information but did not receive an immediate response.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
WEMIX, the blockchain gaming platform built by South Korean publisher Wemade, has shut down its bridges and decentralized exchange trading after an attacker drained roughly $724,000 in USDC.e tokens through a linked contract exploit.
The platform suffered a separate, much larger breach back in February 2025 that cost it over 8.65 million WEMIX tokens, worth approximately $6.2 million at the time.
What happened this time The latest incident targeted a contract linked to WEMIX’s infrastructure, allowing the attacker to move about $724K in USDC.e tokens before the team could intervene. In response, WEMIX suspended both its bridge services and DEX trading, effectively freezing cross-chain movement and on-platform swaps.
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WEMIX had been in the process of transitioning from its native WEMIX$ stablecoin to USDC.e on its WEMIX3.0 network, a migration that kicked off around March to April 2026. That transition involved significant liquidity adjustments, which may have introduced new attack surfaces.
A pattern of security problems The February 2025 breach saw attackers compromise the Play Bridge Vault, making off with over 8.65 million WEMIX tokens valued at around $6.2 million. That incident prompted a temporary service halt, a token buyback plan to stabilize the market, and a collaboration with blockchain security firm Theori to conduct a forensic analysis.
At the time, WEMIX CEO Kim Seok-Hwan oversaw the response. The platform eventually resumed operations, but the incident left a mark on investor confidence in the WEMIX ecosystem.
The stablecoin transition adds complexity The move from WEMIX$ to USDC.e was supposed to simplify the platform’s stablecoin infrastructure. Liquidity migrations require rewriting or redeploying contracts, adjusting permissions, and reconfiguring how funds flow between wallets and pools. The latest exploit suggests at least one of those points was not adequately secured.
What this means for investors For anyone holding WEMIX tokens or using the platform’s DeFi services, the immediate concern is straightforward: when do bridges and trading resume, and will there be further losses discovered during the investigation? Neither question has a clear answer yet.
The key metric to watch is how long the suspension lasts. In the 2025 incident, WEMIX resumed operations relatively quickly and backed it up with a buyback program to restore confidence.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Storj Labs has voluntarily filed for Chapter 11 bankruptcy in the United States, seeking to resolve legacy financial obligations while continuing its operations.
The company filed the case on July 26 in the U.S. Bankruptcy Court for the Northern District of West Virginia. Storj said it expects to continue operating normally and does not anticipate interruptions to customer services during the restructuring process.
The filing follows approximately $35 million in fundraising and comes as Storj focuses on its core decentralized cloud storage business. The company is also reviewing previous acquisitions and non-essential operations to streamline its business.
Storj executives described the filing as a restructuring effort rather than a shutdown. Kaloyan Raev, Director of Software Engineering, said the underlying business remains strong but has been weighed down by legacy obligations.
“This process lets us resolve them in an orderly way and come out the other side with a clean foundation.” Raev Said.
The company said its restructuring could eventually allow management, the decentralized community, token holders, and potential investors to share ownership of the reorganized business. Following the news, Storj Price dropped to 9.7% currently trading at $0.066.
WEMIX Stablecoin Hit by $6.25M Smart Contract ExploitSeparately, Wemade’s blockchain platform WEMIX has confirmed a security breach involving its WEMIX stablecoin.
The incident reportedly occurred around 6:18 p.m. on July 26, after the owner authority of a smart contract linked to WEMIX was compromised. The breach allegedly allowed approximately $6.25 million worth of abnormal WEMIX tokens to be issued and moved on-chain.
WEMIX said it has identified addresses believed to be connected to the attack and is tracing the movement of the assets.
Investigation and Response ContinueThe company is working with major cryptocurrency exchanges and blockchain security firms to monitor the movement of the stolen funds. It may also cooperate with law enforcement agencies if necessary.
WEMIX said it will release further details and response measures as the investigation progresses. Users have been urged to rely only on official announcements and avoid unverified information or speculation surrounding the exploit.
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WEMIX confirmed that an attacker took control of owner privileges linked to its WEMIX$ stablecoin contract on July 26.
Summary
Compromised owner privileges allowed an attacker to mint approximately 5.23 million new WEMIX$ without authorization. WEMIX suspended bridges, liquidity pools and related services while exchanges traced and froze suspect funds. The incident follows WEMIX’s 2025 bridge hack and comes during its transition toward USDC.e services. The access allowed the attacker to create tokens without approval and move assets through several blockchain networks. An early Korean report valued the abnormal issuance and transfers at about $6.25 million. A later WEMIX update gave a more detailed figure of roughly 5.23 million WEMIX$ minted.
JUST IN: WEMIX suspends bridge services and wemix-token:native trading after an attacker exploited a linked smart contract, stealing approximately $724,000. The network has frozen affected funds and paused key services while the investigation continues. pic.twitter.com/2KUPwTgOd3
— EyeWhales (@EyeWhales) July 27, 2026 The company said the incident began at about 9:17 UTC, or 6:17 p.m. in South Korea. WEMIX identified suspected attacker wallets and asked exchanges and stablecoin issuers to help freeze the assets. It also started tracing the transactions with blockchain security companies. The cause of the owner-privilege compromise remains under investigation, and WEMIX warned that its initial figures may change.
Attacker converts minted WEMIX$ into other assets According to WEMIX’s official incident update, the attacker issued about 5,225,525 WEMIX$ without permission. The attacker then converted the tokens into 30,736 WEMIX and 724,198.27 USDC.e. This official breakdown differs from the first $6.25 million estimate, which covered the wider abnormal issuance and movement reported on-chain.
The attacker bridged USDC.e to Ethereum and BNB Smart Chain before swapping parts of the funds into assets including ETH and USDT. Some assets also reached centralised exchanges. WEMIX said several exchanges had frozen linked addresses after receiving requests for help. However, the company has not named those exchanges or stated how much money remains frozen, recoverable or under attacker control.
The company has not said whether ordinary user balances were directly affected. It also has not published a full list of compromised contracts, transaction hashes or recovery amounts. Those details matter because the nominal value of tokens created does not equal the amount successfully converted and removed. WEMIX said its review now continues across several networks.
WEMIX suspends bridges and affected services WEMIX temporarily stopped all bridges connected to the WEMIX3.0 network. The suspension covered Chainlink CCIP and the PLAY Bridge. The company also paused trading in affected liquidity pools, removed foundation-provided liquidity and stopped the WEMIX$ Module and PNIX decentralised exchange. These steps aimed to block additional transfers while the team reviewed contract permissions and related systems.
In its first notice, WEMIX said it had confirmed abnormal transactions and was “currently analysing the cause of the incident and taking emergency measures.” The company said it would publish more findings as investigators confirm them. It also asked users to rely on official channels instead of unverified posts. WEMIX may contact law enforcement agencies if tracing work identifies evidence that requires formal action.
Stablecoin loses peg during planned USDC.e transition WEMIX$ was designed to track the U.S. dollar on the WEMIX3.0 network. CoinGecko data showed the stablecoin falling close to its recorded low after the breach, with a weekly decline of about 98.9%. The price move followed the unauthorised minting and rapid conversion of newly created tokens, although the final financial loss remains separate from the amount minted.
The incident came while WEMIX was already replacing WEMIX$ with USDC.e across its gaming and financial services. In March, the company announced that WEMIX PLAY would change its base currency from WEMIX$ to USDC.e. It scheduled the main service transition for April and began closing or reorganising older WEMIX$ pools. The breached contract therefore belonged to a stablecoin system already moving toward reduced use.
New breach follows the 2025 Play Bridge hack The latest event follows a separate WEMIX security breach in February 2025. As crypto.news previously reported, attackers removed about 8.6 million WEMIX tokens, then worth roughly $6.04 million, from the Play Bridge Vault. WEMIX shut the affected server and reported the case to the Seoul Metropolitan Police Agency’s cyber investigation unit.
That earlier incident also led to criticism because WEMIX disclosed it several days after discovering the breach. South Korea’s major exchanges later delisted WEMIX in June 2025. As related crypto.news coverage noted, Upbit, Bithumb, Coinone, Korbit and Gopax coordinated the action through the Digital Asset Exchange Alliance. The new contract breach occurred as the project approached the period when a future domestic relisting application could become possible.
WEMIX has not released a final attack report, named the source of the stolen owner credentials or confirmed the total unrecovered loss. Its latest response focuses on wallet tracing, service suspensions, asset-freeze requests and contract analysis. Further notices are expected to clarify whether the attacker exploited code, obtained a private key or accessed an internal account with contract-control rights.
Something interesting is happening with Meta Platforms (META -1.80%) and two companies with which it has relationships -- CoreWeave (CRWV -11.58%) and Nebius Group (NBIS -15.02%).
On the one hand, Meta recently signed a $21 billion expanded deal for artificial intelligence (AI) infrastructure, giving Meta increased capacity to develop AI programs. Factoring in a previous $14 billion deal, Meta now has $35 billion in commitments to CoreWeave.
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And similar things are happening with Nebius. Meta signed a long-term deal for AI infrastructure with the neocloud provider in March, valued at up to $27 billion over five years.
But now Meta seems to be shifting gears -- Bloomberg reports that it is now building a cloud business of its own to sell excess AI computing capacity. The report comes after CEO Mark Zuckerberg indicated Meta might consider selling overbuilt computing capacity to other companies at a premium.
Image source: The Motley Fool.
And The New York Times reports that Meta is currently in talks with Anthropic, the start-up behind the Claude large language model, to lease as much as $10 billion in computing power to Anthropic over two years.
So is Meta Platforms a valued customer or a potential competitor to CoreWeave and Nebius? That's the question that should be keeping investors up at night.
While Meta Platforms is a prominent name in the stock market -- the operator of Facebook, Instagram, and other social media platforms -- CoreWeave and Nebius may not be. Both companies are considered "neocloud" companies, which means they build high-performance data centers powered by Nvidia graphics processing units and then rent the computing power to customers who build, train, and operate AI-powered programs.
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CoreWeave is the bigger of the two, operating 43 data centers at the end of March with 850 megawatts of active power and 3.1 gigawatts of contracted power. CoreWeave reported $2.07 billion in revenue in the first quarter, up from $982 million a year ago, with a net loss of $740 million.
Nebius is smaller, with 11 data centers, and only five of them are currently operational. But the company reports contracted capacity exceeding 3.5 GW, and its revenue increased from $50.9 million in the first quarter of 2025 to $399 million in Q1 2026. It posted a net loss for the quarter of $100.3 million.
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Meta's shifting strategy Meta Platforms and its CEO, Mark Zuckerberg, will certainly face a lot of questions about Meta's strategy when it reports quarterly earnings on July 29. But the company has shown a willingness to take big risks.
Remember, this is the company that in 2021 changed its name from Facebook to Meta Platforms to emphasize its shift to building out the metaverse -- a virtual reality where people would presumably work, have meetings, and socialize. But that bet failed, and after investing $80 billion, Meta has started laying off some employees in its Reality Labs division.
Whether it's positioning itself to compete with CoreWeave and Nebius or considering taking on big cloud computing companies such as Alphabet, Microsoft, and Amazon, Meta is determined to be a player in AI. As it shifts its attention away from the metaverse, Meta will have plenty of resources and willingness to spend aggressively.
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Old-school whiteboard interviews are a big part of this startup's hiring. Aaron Epstein/PEACOCK via Getty Images Mercor's interview process is less vibe coding, more whiteboarding.
On an episode of the "20VC" podcast released on Saturday, Mercor's head of product, Osvald Nitski, said that the AI training company has moved away from take-home assignments that can be completed with AI.
"We'll do one round where we find out if the person is familiar with AI tools," he said. "We care a lot about being able to set up good experiments and understanding statistics, having good judgment, and then systems design as well," he said, referring to what is asked in whiteboarding sessions.
Whiteboard interviews, where candidates draw and explain their thinking process, became an industry gold standard in the 2010s and are part of standard technical interviews at companies like Google, Meta, and Microsoft.
On the podcast, Nitski, who joined the $10 billion startup last year, said that AI makes it very easy to "offload" a lot of decision-making.
"We want to make sure that people still have the ability to have good judgment and know what they're doing and not just, like, regurgitate what comes out of Claude," he said.
While Mercor uses AI to screen candidates for its talent marketplace, its full-time job interview process contradicts what most of Silicon Valley is increasingly adopting.
For one, work trials and take-home assessments, which Nitski said Mercor has moved away from, are quickly replacing traditional interviews, such as culture-fit screenings and whiteboarding sessions. AI coding startups like Lovable, Cursor, and Kilo say work experiments are a one-shot way to gauge whether someone has the technical and soft skills they want to see.
Mercor's low-AI interview strategy is also unique compared to peers.
Over the last few months, Business Insider reported that Big Tech companies such as Google, Microsoft-owned LinkedIn, and Cisco are changing their interview to allow candidates to use AI. Some tech startups are giving candidates full access to AI tools and coding assistants.
Emily Cohen, who heads people and operations at AI coding startup Cognition, said the company has changed its interview process to account for AI and vibe coding.
"I guess this is like asking a kid to take a math test without a calculator," she said about not allowing AI use in interviews. "For the bulk of building something similar to what you would do on the role, you can and should use AI tools."
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In the early days of artificial intelligence (AI), Advanced Micro Devices (AMD -3.54%) looked like it would be nothing more than an afterthought to the dominant Nvidia. However, AMD CEO Lisa Su has managed to position the company to be a big AI winner in the coming years.
This started with the bold move of striking a deal with OpenAI, where Su was willing to give the frontier AI model company an up to 10% stake in AMD. In exchange, OpenAI committed to buying 10 gigawatts of AMD's graphics processing units (GPUs) to run inference for its models. It was a deal worth in excess of $100 billion, but more importantly, the size of the commitment would require OpenAI to incorporate its ROCm software platform into its systems. Meta Platforms would sign a similar deal shortly afterward.
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At the same time, Su bet that AMD's innovative chiplet design, which is devised to function as part of a larger interconnected system and could be packaged with more memory, would become ideal for inference, a market expected to grow larger than training. She also went out and acquired ZT Systems so the company could start selling complete rack systems.
Fast-forward to today, and AMD recently signed up two new large GPU partners, Anthropic and Microsoft, for its next-generation GPUs. However, AMD no longer had to include equity stakes as part of these arrangements and will instead invest up to $5 billion in Anthropic.
As part of the deal, the maker of the Claude large language model (LLM) will deploy 2 gigawatts of AMD's MI450 GPUs housed within its Helios rack-scale solutions. The Helios racks also include the company's server central processing units (CPUs), networking gear, and ROCm software. The first delivery is expected in the first half of next year. Microsoft will also begin to use the Helios system within its data centers for inference, although terms were not disclosed.
AMD CEO Lisa Su at an event. Image source: Getty Images.
In addition to GPUs, Su has also positioned AMD as a leader in the server CPU market. With the rise of agentic AI, the ratio of GPUs to CPUs is expected to shrink drastically, with projections that it will go from 8:1 for training to 1:1 for agentic AI. At the same time, AMD is making high-core CPUs designed specifically for agentic AI and inference that will come at higher prices. It recently upped its industry CPU forecast, predicting this will become a $220 billion market in the next few years, with a goal of taking 50% market share.
Between its GPU and CPU opportunities, Su has positioned AMD for massive growth in the coming years, making it a top AI stock to buy.
Geoffrey Seiler has positions in Advanced Micro Devices and Meta Platforms. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Čínský výrobce paměťových čipů CXMT zažil jeden z nejvýraznějších burzovních debutů posledních let, když jeho akcie během prvního obchodního dne vzrostly o více než 500 %. Firma se díky tomu podle tržní kapitalizace stala největší veřejně obchodovanou společností v Číně a symbolem snahy Pekingu vybudovat soběstačný polovodičový průmysl navzdory americkým technologickým omezením.
Akcie čínského výrobce čipů CXMT při debutu na akciové burze stouply o více než 500 procent. Firma se tak stala největším čínskou společností podle tržní kapitalizace. Vstup CXMT na burzu je největší primární nabídkou akcií v Asii v letošním roce, napsala agentura Reuters.
Cena akcie CXMT v polovině obchodování na čínské burze vyskočila až na 54,65 jüanů (171 Kč). Zahajovací cena přitom činila 8,66 jüanů. Tento růst zvýšil tržní kapitalizaci CXMT na 3,65 bilionu jüanů (11,4 bilionu Kč).
Společnost CXMT se v důsledku amerických omezení vývozu pokročilých technologií stala jedním z hlavních pilířů čínské strategie na vybudování soběstačného polovodičového průmyslu. Její rozvoj má Číně pomoci dohnat technologický náskok zahraničních konkurentů, především v oblasti umělé inteligence (AI).
Firma díky svému raketovému debutu předstihla v tržní kapitalizaci dosavadní čínskou jedničku, Industrial and Commercial Bank of China (ICBC). Růst akcií v první den obchodování také s přehledem předčil více než dvojnásobný nárůst společnosti China Resources New Energy po jejím debutu na začátku tohoto měsíce. Tržní kapitalizace CXMT je nyní téměř poloviční ve srovnání s americkým konkurentem Micron.
Silný vstup akcií CXMT na burzu ukázal, jak vysokou hodnotu jsou investoři ochotni přisuzovat přednímu čínskému výrobci čipů i navzdory nedávným výkyvům na trhu vyvolaným výprodejem akcií firem zaměřených na AI. Zájem o titul dnes způsobil pokles akcií dalších čínských výrobců čipů a polovodičových společností, protože správci fondů přesouvali část investic právě do akcií CXMT. Jejich prudký růst ale zároveň vyvolal obavy z možné cenové bubliny. Posilující postavení firmy na čínském trhu jí navíc umožnilo zvýšit ceny pro technologické zákazníky, mezi které patří například Huawei.
Akcie firem spojených s AI, včetně výrobců čipů, letos patří k hlavním tahounům růstu světových akciových trhů. V posledních týdnech ale mezi investory sílí obavy, že jejich ocenění je příliš vysoké a že rozsáhlé investice do AI se nepromítnou do růstu zisků dostatečně rychle. Podle některých analytiků prudký růst akcií CXMT nese známky spekulativní horečky a není jisté, zda je dlouhodobě udržitelný. Opatrnější nálada se dnes projevila i na dalších asijských technologických burzách, kde akcie převážně oslabovaly.
Společnost CXMT, původně známá jako ChangXin Memory Technologies, při primární veřejné nabídce akcií získala 57,92 miliardy jüanů, což z ní dělá největší emisi akcií v oblasti polovodičů v pevninské Číně. Překonala tak dosavadní maximum společnosti SMIC z roku 2020. Celkový výnos z emise by se navíc mohl ještě zvýšit, pokud bude plně využita opce na prodej dodatečných akcií.
V době vstupu na burzu se však volně obchoduje jen malá část akcií společnosti, zhruba 6,73 procenta, protože většina zůstává zablokována u stávajících akcionářů. Omezená nabídka akcií na trhu tak může přispívat k výraznějším cenovým výkyvům. Firma očekává, že za první pololetí vykáže více než sedminásobný růst tržeb na 110 miliard až 120 miliard jüanů a po loňské ztrátě se vrátí k zisku, který má činit 66 miliard až 75 miliard jüanů.
Po 13 dnech po sobě jdoucích útoků, jejichž cílem bylo omezit schopnost Íránu útočit na komerční lodní dopravu, USA pozastavily útoky proti Íránu. Teherán následně zastavil odvetné akce a vedl jednání s Ománem o Hormuzském průlivu. Zmírnění napětí vedlo k propadu cen ropy, Brent se obchoduje lehce pod 91 USD (-6 %). Asijské indexy tak začaly nový týden růstově (+0,8 %) a futures kontrakty pro zámoří nyní posilují podobně. Evropa by tedy měla zahájit pondělní obchodování v kladných úrovních kolem +1 %. V Asii vynikal při svém debutu po IPO čínský výrobce čipů CXMT (+535 %). V průběhu týdne budou investoři sledovat středeční zasedání FEDu, zdali zvýší úrokové sazby po nedávném nárůstu cen ropy. Z výsledků bude zajímavý např. Microsoft. Praha v pátek rostla (PX +0,7 %), z výsledků Moneta (+1,9 %) profitovala zřejmě i KB (+1,7 %). Domácí trh by dnes mohl otvírat s pozitivním sentimentem růstově i dnes.
Nvidia’s expanded partnership with SK Hynix has given investors a reason to look for a breakout, although the agreement has not yet produced a measurable market reaction.
NVDA closed Friday at $206.84, down 0.92%, before details of the SK Group initiative were absorbed.
Nvidia already dominates AI accelerators, but its processors cannot be delivered as complete systems without enough high-bandwidth memory.
By securing and jointly developing HBM with SK Hynix, Nvidia is addressing a component that could increasingly determine how many AI factories it can build and ship.
Nvidia and SK Hynix agreed to establish a long-term partnership covering supplies, joint development and optimisation of next-generation AI memory, including HBM.
The arrangement is designed to align memory technology with Nvidia’s computing platforms.
That matters because memory is becoming one of the tightest constraints in the AI supply chain.
Morgan Stanley analyst Joseph Moore described the market as unlike a conventional semiconductor cycle, arguing that memory was becoming “increasingly THE bottleneck” for AI and agentic-computing systems.
Moore also identified Nvidia and Broadcom as among the strongest-value computing names.
His argument supports the investment case behind the SK Hynix agreement: if Nvidia secures more advanced memory while demand remains above supply, it could ship more complete systems and reduce a major execution risk.
The deal does not eliminate shortages immediately.
HBM capacity remains limited, qualification requirements are demanding and Nvidia, hyperscalers and rival accelerator developers are competing for the same advanced supply.
The partnership also links Nvidia to a potentially important customer.
SK Telecom plans to develop an AI factory of up to 2 gigawatts using Nvidia’s DSX architecture and Vera Rubin accelerated-computing systems powered by SK Hynix HBM4.
The first facility is planned to begin operating in 2027.
That creates a strategic loop as SK Hynix supplies and co-develops the memory, Nvidia provides the computing systems, networking, software and data-centre architecture, and SK Telecom becomes an infrastructure customer serving South Korea and the wider Asia-Pacific region.
The deployment could become a valuable reference site for Vera Rubin as Nvidia faces competition from hyperscalers’ custom processors and specialist AI-chip companies.
It also reinforces Nvidia’s shift from selling individual GPUs towards supplying complete AI factories.
However, the companies signed letters of intent for a programme described as exceeding $500 billion.
They did not disclose Nvidia’s expected revenue, system volumes, memory prices or binding purchase commitments.
Also read: Why are Nvidia-backed CoreWeave, Nebius, and IREN stocks plunging?
Execution remains the central risk. KeyBanc analyst John Vinh said the Vera Rubin ramp appeared slightly delayed because of thermal-lid issues and SK Hynix’s HBM4 qualification.
He nevertheless viewed the financial risk as manageable because additional Blackwell shipments could offset slower Rubin deliveries.
Vinh retained an Outperform rating and raised his Nvidia price target to $330 from $310.
His view captures the stock’s tension: the partnership addresses the correct bottleneck, but Nvidia must still qualify HBM4, solve system-level challenges and scale Rubin on schedule.
Investors must also see continued capital spending from Microsoft, Amazon, Alphabet and Meta.
Barron’s recently argued that renewed Big Tech spending commitments were needed to drive sustained gains above $200.
Nvidia, Apple, Alphabet, Amazon, Microsoft, Meta and Tesla logo displayed on a phone screen and an illustrative stock graph displayed on a laptop screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on February 19, 2026. (Photo by Jakub Porzycki/NurPhoto via Getty Images)
NurPhoto via Getty Images
Led by sharp declines last Thursday in the stock prices of Alphabet and Tesla, the Magnificent Seven lost approximately $890 billion in market value. The Wall Street Journal reported that these declines stemmed from a shift in investor perspective, from a focus on earnings to a focus on free cash flow. Free cash flows for Alphabet and Tesla are now negative, in large part due to these companies’ massive capital expenditures.
Investors need to put into perspective how stock market declines, free cash flow patterns, and capex fit together, both conceptually and historically. The big picture involves market cycle dynamics, with turning points and tipping points. The events of last week look like very much a turning point; and looming ahead is a potential major tipping point.
My goal for this post is to connect the dots between stock market declines, free cash flows, and capex. To do so, I describe highlights from last week’s Wall Street Journal coverage, which I then relate my prior posts on these topics.
What The Wall Street Journal ReportedThe Wall Street Journal reported that on Thursday, July 23, Alphabet’s stock declined by 7% and Tesla’s stock declined by 15%. These declines, both record-setting one day drops for these respective companies, spread to other major technology stocks. According to the article, the main driver of the declines was “free cash flow—which turned negative at both.” In this respect, investors had “dialed in to the implications of ramped-up capital spending.”
The Journal explains that free cash flow is essentially “the money companies have remaining from cash receipts” during the reporting period “after incurring cash expenses and making big-ticket investments.” In particular, the Journal states that free cash flow is “how much cash is available for things that investors like, including dividends and share repurchases.”
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The Journal also explains that free cash flow is different from net earnings, in that the latter “spreads the cost of major investments over several years through depreciation and amortization.” Typically, investors pay more attention to earnings than to free cash flow. However, apparently last week was different.
Right and Wrong Ways To Measure Free Cash FlowThe shift in focus by investors from earnings to free cash flow marks a turning point in market perceptions. While this might be the case, there is little if any evidence that investors actually have a good understanding of free cash flow. In this regard, The Wall Street Journal article does, at best, a mediocre job of explaining the concept; and as I have discussed in a previous post, many analysts use the wrong formula to compute free cash flow.
The correct way to describe free cash flow is simply this: It is the cash flow a company generates during a period of time that is available to be paid to the company’s shareholders and debtholders.
There are two formulas that can be use to compute free cash flow correctly, both based on a company’s statement of cash flows. The first way is to compute the sum of the company’s interest paid, the negative of its cash flow from financing, and the change in its cash holdings. This formula relates directly to the cash generation that is available to be paid to the company’s shareholders and debtholders.
The second formula for correctly computing cash flow is the sum of the company’s cash flow from operations, interest paid, cash flow from investment (typically negative), and an exchange rate adjustment variable. This formula corresponds to what The Wall Street Journal article describes as “money companies have remaining …” When computed correctly, the two formulas give the same number.
The description I provide above for free cash flow is different from the description that appears in The Wall Street Journal article, which only mentions “big-ticket investments,” that being just a part of cash flow from investment. Similarly, many analysts only use capex in their free cash flow formula, that being just a part of cash flow from investment. These incorrect formulas tend to produce values for free cash flow that are too high.
This last point can be critical. In a previous post about Tesla, I presented a chart contrasting the values computed by analysts with the values correctly computed. Precision is important: Tesla’s free cash flows did not turn negative only recently. They have been negative since 2023.
I would also point out that there is a day-of-the-week effect in the stock market that gets very little attention. One aspect of this effect is that quant firms are net sellers in the overnight market, from the Wednesday close through the Thursday open. The sharp stock price declines described above occurred on a Thursday.
Connecting The Dots From Free Cash Flow To ValuationThe Wall Street Journal article entirely omits a discussion about the precise relationship between free cash flow and valuation, which is as follows: The fundamental value of a company is the sum of the present value of its forecasted free cash flows discounted at the company’s cost of capital, and the company’s cash holdings.
Putting two plus two together: overestimating free cash flows leads to overestimating the company’s fundamental value. In my post from February 2025, I argued that the capex surge by hyperscalers was taking place in a highly overvalued market because the market was significantly overestimating future free cash flows. The post made this argument for Amazon, which had the largest capex; however, I had been making this point generally for quite some time, including for Alphabet and Tesla.
From Turning Point To Tipping PointIn one of my June posts, I discussed the hype around SpaceX’s IPO, and why this hype was contributing to financial fragility and economic instability. Extreme instability corresponds to a financial crisis, with the tipping point being the event which takes the economy from pre-crisis mode to a full fledged crisis.
Financial crises are often called ‘Minsky moments’ after the economist Hyman Minsky who developed the Financial Instability Hypothesis. Minsky’s work emphasized that in the leadup to a crisis, borrowers do two specific things. First , they take on too much debt. Second, they use that debt to finance projects which do not generate enough cash to cover future interest obligations and repayment of principal.
Companies with negative free cash flow are only able to cover the interest and principal on their debt by additional borrowing or by issuing new equity. In other words, cash is flowing from investors to the company, not the other way around.
In a financial crisis, investors become unwilling to support companies not able to cover interest and principal, with the result being a cascade of defaults and runs on financial institutions.
Typically, interest rate hikes by the Federal Reserve, often done to combat inflation, generate the tipping point. However, interest rate hikes are not a necessary condition. A loss of faith by investors can instead tip the financial system into crisis.
A major concern with the massive AI-capex which has occurred during the last two years is that much of it is debt financed. As the real cost of generative AI-tokens is becoming clear, lower priced Chinese competitors are emerging, and AI customers are beginning to economize on their use of AI. As a result, investors are becoming increasingly alarmed about whether U.S. AI firms will be able to cover their debt obligations. As I discussed in a previous post, AI-capex has been the main, and perhaps only driver of U.S. economic growth. If more companies announce negative free cash flows, that increase in magnitude, the financial system and overall economy will move closer to the tipping point.
On Deck Later This Week: Meta and AmazonLater this week, Meta and Amazon will announce their financial results for Q2 2026. Many eyes will be on their free cash flow numbers. To stay free cash flow positive, Meta’s operating cash flow will need to expand by more than 50% year-over-year. The situation at Amazon is similar. Indeed, in Q1 2026, Amazon’s free cash fell dramatically to $1.2 billion, as compared to $25.9 billion in the prior year’s Q1.
The data this week will serve to signal just how close the U.S. financial system is to the tipping point.
