Zondacrypto boss seeks leniency for testimony on political ties: Report
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Polish Olympic Committee president Radosław Piesiewicz faces charges as prosecutors investigate his ties to collapsed cryptocurrency exchange Zondacrypto.
The UK is considering tightening rules on political donations, potentially restricting contributions from crypto billionaires to the Reform Britain party.
BlockBeats reported on July 6th that the UK government announced a new round of political donation reforms, proposing to extend the £100,000 cap on overseas donations to the first year after the donor becomes a UK resident, and to raise the scrutiny standards for corporate political donations, in order to further restrict the inflow of foreign funds into UK politics. The new regulations build on the ban on cryptocurrency political donations implemented in March of this year and are expected to be submitted to Parliament for final review next week. Analysts believe the new regulations may affect the political donation capabilities of key crypto industry supporters of the Reform Party (Reform UK). Christopher Harborne, an investor holding approximately 12% of Tether's shares, has donated approximately £12 million to the Reform Party and is registered to vote in the UK; BitMEX co-founder Ben Delo has donated approximately £4 million and has stated his intention to return to the UK to settle, at which point his political donations within a year of his return may be subject to the £100,000 cap. The report states that none of the donations were in cryptocurrency, and the Reform Party stated that all donations complied with current regulations. Meanwhile, party leader Nigel Farage is also facing further investigation for allegedly failing to declare non-cash support from supporter George Cottrell.
The "2026 China Embossed Intelligence Industry Development Report" was released.
According to Mars Finance, the 2026 Shanghai International Embossed Intelligence Industry Expo (CIEI 2026), China's first professional industry exhibition focusing entirely on embodied intelligence, is currently being held at the National Exhibition and Convention Center (Shanghai). The "2026 China Embossed Intelligence Industry Development Report" was released during the expo. The report shows that the current global embodied intelligence industry landscape presents a competitive situation of "dual-core drive by China and the US, and catch-up by Europe, Japan, and South Korea." The US maintains its lead at the "brain" level of embodied intelligence due to its absolute advantages in AI basic research, large-scale model training, and venture capital. China demonstrates unique competitive advantages in the global embodied intelligence industry. On the one hand, China possesses the world's most complete robot hardware supply chain, covering all aspects of the industry chain, including motors, reducers, lead screws, sensors, and controllers, with costs only 40-60% of those in Europe and the US. On the other hand, China's rich manufacturing and service industry application scenarios provide massive training data and implementation opportunities for embodied intelligence. Simultaneously, national policies continue to strengthen, forming a systematic industry support system from the central to local levels. (Shangguan News)
Warsh on the Supreme Court's ruling on the Federal Reserve: "We don't need to worry about political factors."
PANews reported on July 1 that Federal Reserve Chairman Warsh gave his initial response to the Supreme Court's ruling this week that blocked President Trump's dismissal of Federal Reserve Governor Cook: "The Federal Reserve operated independently and followed its statutory duties until the Supreme Court's ruling. Following the Supreme Court's ruling, the Federal Reserve will continue to do so… I trust the federal judges appointed under Article III of the Constitution and I firmly believe in the rule of law. We will follow the Supreme Court's ruling, but from the perspective of day-to-day operations, this ruling reaffirms our position: we are doing everything in our power to perform our duties impartially, just as a referee would judge a ball. We take our reform goals seriously and will deliver on the important commitments Congress has given us—namely, achieving price stability within the framework of our 'dual mandate'; as long as we do this, we need not worry about political interference or judicial intervention. We can focus on the task at hand."
Castle Securities: The AI market is facing greater risks, including weakening demand and declining returns.
PANews reported on June 29 that Citadel Securities stated that the AI market is facing greater risks, including weakening demand, declining returns, and increased political and regulatory scrutiny.
CITIC Securities: While the growth logic for AI computing power remains unchanged, volatility has increased; caution is advised when chasing high prices.
According to a research report by CITIC Securities, the following factors will determine the market trend in the third quarter: On the fundamental side, AI computing power remains highly active, with interim results and overseas financial reports worth noting. Meanwhile, given the pressure on the macroeconomy since April, the Politburo meeting in July will likely implement measures to boost the economy. Regarding liquidity, external disturbances are increasing, while the domestic market remains neutral. In terms of risk appetite, geopolitical events and the listing of industry giants will cause short-term market volatility. Considering the interconnectedness of global technology stocks, major overseas computing power sectors such as Japan, South Korea, and the US also need continuous monitoring. In terms of sector allocation, while the growth logic of AI computing power remains unchanged, volatility has increased. It is recommended to be cautious about chasing highs and to buy on dips. Lithium batteries are expected to enter their peak season, and energy storage demand continues to recover, presenting a valuation repair opportunity for new energy. Dividend stocks are expected to rebound after overselling, offering relatively high value for investment. Key sectors to watch include: banking, coal, utilities, AI, optical modules, storage, chips, industrial metals, and lithium battery materials (VC). (Cailian Press)