The U.S. Treasury Department released the investment portfolio of the "Trump Account," which primarily invests in broad-based S&P 500 ETFs.
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The U.S. Treasury Department issued a revised general license concerning Iran, lifting sanctions against the country.
According to ChainCatcher, citing Jinshi, the U.S. Treasury Department has released a revised general license concerning Iran, indicating that the U.S. is lifting sanctions against Iran.
Trump: Early investment is key; the stock market will "skyrocket."
According to BlockBeats, on July 6th, Trump stated that thanks to Trump Accounts, newborns today will have a significant financial advantage by age 18. During today's account launch ceremony, he strongly advocated that early investment is a path to long-term wealth creation, pointing to the recent gains in the Dow Jones, Nasdaq, and S&P 500 indices. "I think the market is going to skyrocket," he said, encouraging families to continue investing rather than cashing out. (Jinshi)
Goldman Sachs released a report on China's AI computing power, predicting that domestically produced chips will account for over 50% of the market share by 2026.
According to a Goldman Sachs report, "China AI Computing Power," published by P Equity Research, China is accelerating the construction of its nationwide computing network. Related infrastructure projects are expected to attract 7 trillion yuan in investment by 2026, with data center investment reaching approximately 2 trillion yuan over the next five years. Currently, capital and technology are shifting massively to computing hubs in western China, while data centers in first-tier cities are transforming to focus on ultra-low latency computing, edge nodes, and AI inference. Although gigawatt (GW) clusters containing more than 100,000 chips are still scarce in China, in typical GW-level computing parks, workloads already consist primarily of inference (accounting for over half), along with training and full-stack R&D. The report predicts that by 2026, the market share of domestically produced AI accelerator chips is expected to exceed 50%. Huawei and Alibaba's Pingtouge lead the domestic camp with 20% and 7% market share respectively, but Nvidia currently maintains its overall market dominance with a 55% share. In terms of cost and performance, domestically produced chips have 40% to 50% lower capital expenditure per unit of IT power consumption compared to imported chips. However, due to the performance gap, their capital expenditure per unit of computing power is 2 to 4 times that of imported chips, and the computing power generated per unit of power consumption is only 10% to 30% of that of imported chips. In addition, the daily token output of Huawei's 910B/910C servers is about one-sixth to one-third of that of NVIDIA's H800, resulting in API profit margins based on this hardware lagging significantly behind those of competitors using NVIDIA hardware.
Ireland excludes crypto from new tax-advantaged investment accounts
Ireland’s planned investment accounts will offer tax benefits for stocks, bonds and ETFs, while excluding crypto and derivatives as higher-risk products.
South Korean beauty and retail stocks led the market gains, and Gate.com continues to expand its investment portfolio in South Korean stocks.
According to ChainCatcher, Gate's market data shows that the South Korean stock market was active today. Manyo Factory, a cosmetics stock, reached $11.60, up 18.43%; Heung Koo Petroleum reached $6.88, up 14.72%; and IT'S HANBUL reached $7.25, up 13.51%, with several popular South Korean stocks leading the market gains. Gate has established a 24/7 trading service system covering the three core markets of US, Hong Kong, and South Korea, supporting over 10,000 US stocks and ETFs, over 1,500 Hong Kong stocks, and over 1,000 South Korean stocks, totaling over 12,500 stocks and ETFs globally. Users can participate in global stock investment through their Gate unified account using USDT, supporting fractional share transactions starting from as low as 0.01 shares, and enjoying stock dividend rights. The platform also supports cross-brokerage transfers for US and Hong Kong stocks, as well as corporate actions such as stock splits and consolidations, further optimizing the stock investment service experience.
Bloomberg: Trump's strategic Bitcoin reserve plan faces legal and jurisdictional obstacles.
According to Odaily, the strategic Bitcoin reserve program promoted by US President Trump is facing legal and jurisdictional issues, with the core controversy being whether the US Treasury Department has the legal right to manage the reserve. Early in his presidency, Trump proposed establishing a strategic Bitcoin reserve, primarily funded by the U.S. government's criminal or civil seizures of existing Bitcoin holdings, and a separate digital asset inventory. Related executive orders also required the Treasury and Commerce Departments to develop a "budget-neutral" Bitcoin acquisition strategy, meaning it should not increase taxpayer costs. However, sources say the debate surrounding the reserve has now shifted to whether it should be placed under the Commerce Department, rather than the Treasury Department. Another point of contention is whether the U.S. government can hold BTC "indefinitely," given its price volatility. White House spokeswoman Liz Huston said the Trump administration is still evaluating the optimal structure for its strategic Bitcoin reserve and U.S. digital asset inventory to deliver on its vision of making the U.S. a global hub for cryptocurrency and cutting-edge technology. (The Block)