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Data: Recently listed crypto companies have seen their average stock price fall by 73% from its peak, with Gemini dropping over 90%.
According to a report by 10x Research, recently listed crypto-related companies have seen their share prices plummet from their post-IPO highs. Gemini (GEMI) has fallen 91%, Amber (AMBR) 89%, BitGo (BTGO) 79%, Circle (CRCL) 78%, Coinbase (COIN) 63%, and Securitize (SECZ) 41%. Data shows that these eight recently listed crypto companies are down an average of 73% from their post-IPO highs. The report points out that post-IPO price crashes have become a common phenomenon for crypto IPOs, and investors need to adopt more systematic strategies to cope with such volatility.
McKinsey research: 76% of employees use AI to assist in their work; generative AI lowers the demand for entry-level positions.
According to a McKinsey study published on July 7th by Odaily Odaily, only 30% of employees used AI to assist in their work in 2023, but this figure is projected to rise to 76% by 2025. The "McKinsey 2025 New Era of Work Survey" shows that 51% of organizations reported that generative AI has reduced their demand for entry-level positions. Between 2023 and 2025, the turnover intention of employees with less than one year of service decreased from 37% to 32%, approaching the 30% level of employees with more than three years of service. The survey shows that AI creators and heavy AI users have the highest sense of job belonging, but they are 7% more likely to leave within the next 3 to 6 months than light AI users and 10% more likely than employees who do not use AI. The survey indicates that the main reasons employees are willing to stay include valuable work, flexible work location, career development and promotion opportunities, trust and support from colleagues, and decent compensation with sufficient recognition.
Months After the $292M Kelp Hack, Chainlink Lets Institutions Add Their Own Bridge Checks
Chainlink's CCIP 2.0 lets banks run their own security checks on cross-chain transfers, five months after a rival's setup lost $292 million to hackers.
Revolut Hackers Demand $3M Monero Ransom, Threaten to Sell Customer Data: Report
The group says it chose whom to target by scanning the blockchain for Revolut accounts holding significant crypto.
Since October of last year, hedge funds have once again concentrated their buying on technology stocks.
According to a chart posted on X by financial analysis website Barchart, based on Odaily of America data, hedge funds' purchases of technology stocks last week reached their highest level since October of last year.
Analysis: The AI investment boom is cooling down, and the market is reassessing the sustainability of chip and data center spending.
According to Odaily Odaily, the AI infrastructure investment boom is cooling down, and the market is beginning to reassess the sustainability of chip and data center spending. As investors re-examine whether AI infrastructure investment can be sustained, "AI deals" covering the semiconductor, memory chip, and data center industry chain are showing signs of cooling. Recently, AI-related chip stocks such as Micron Technology (MU) and SanDisk (SNDK) have been under pressure. Samsung Electronics previously reported record second-quarter results, but revenue fell short of market expectations, causing its stock price to drop nearly 7%, dragging down the entire AI chip sector. Market concerns are growing that the current AI boom, driven by GPUs, high-bandwidth memory (HBM), and data center construction, may face repricing as cloud computing giants (Hyperscalers) may slow their investments in AI infrastructure. Meanwhile, South Korean memory chip giant SK Hynix's stock price has fallen about 25% from its all-time high ahead of its US IPO, which is also attracting some funds away from existing chip stocks. Analysts point out that after SpaceX's massive IPO boosted valuations of AI-related assets, investors are reassessing the growth logic for the next phase of the AI market. If the AI investment fervor cools further, some funds may flow back from the AI industry chain to other risky assets, including crypto assets. (CoinDesk)