BitMart account demands founder explain funds status, Xia calls claims ‘fabricated’
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Survey: $29 trillion in sovereign funds shift to energy and physical assets; 60% of central banks worry that US Treasury bonds are eroding the dollar's status.
According to Mars Finance, a recent Invesco survey released on June 29th shows that sovereign investors, covering 90 sovereign wealth funds and 54 central banks, managing a total of $29 trillion in assets, are systematically restructuring their portfolios, shifting their focus to energy and physical assets. Approximately 80% of surveyed institutions believe that energy security and energy transition infrastructure are the top priorities for enhancing portfolio resilience, with infrastructure assets now accounting for 9% of their portfolios. The high energy consumption of AI has further boosted the attractiveness of energy assets. Regarding the dollar's credit crisis, 61% of surveyed central banks believe that US debt levels are weakening the dollar's long-term reserve status, a significant jump from 20% in 2024; 29% expect the dollar's reserve currency status to weaken within five years, up from 12% in 2022. Some institutions have begun to reduce their reliance on US custodians and clearing systems; one European Central Bank has completed the replacement of its US custodian, while a Latin American central bank has admitted to establishing non-US custodian relationships for "extreme situations." Furthermore, about one-third of surveyed institutions plan to increase their gold reserves. Invesco's research director pointed out that "resilience is turning from a bonus into a necessity."
Atreides founder: DRAM remains the most significant bottleneck for AI, and will account for 30%-40% of data center capital expenditure by 2027.
Odaily Odaily reports that Gavin Baker, founder and chief investment officer of Atreides Management, discussed the "bottleneck" problem in the AI race during the latest episode of the All In podcast. Gavin stated that DRAM remains the most critical bottleneck. There is a group of people on social media who are very concerned about the bottleneck issue. They search on Claude and find some unknown Japanese materials companies, but the truly important bottleneck is only DRAM, because memory capacity and bandwidth are the foundation of the performance of all AI models. The development of companies like Changxin Memory may become an alternative solution for Apple to solve the high cost problem. They will meet the market demand for consumer-grade DRAM to some extent, but for the DRAM required for AI servers, only three companies can produce it (SK Hynix, Samsung, and Micron)... In 2027, DRAM may account for 30% to 40% of all hyperscale data center capital expenditures.
The founder of DefiLlama will launch a new off-chain proof/verification service, which plans to audit data such as bank account balances.
According to Mars Finance, DefiLlama founder 0xngmi announced the launch of a new off-chain proof/verification service. This service will be used to verify and audit off-chain data, including information such as bank account balances, to help the project conduct credible verification of real-world assets and other off-chain data.
Binance experienced a net outflow of over $400 million in one week, with funds accelerating their exodus after Greece withdrew its MiCA license application.
According to a report by Cointelegraph, Binance recorded a net outflow of over $400 million this week after the exchange announced its withdrawal of its MiCA license application in Greece. According to DefiLlama data, this week's net outflow represents 0.3% of Binance's tracked assets ($133.3 billion). Specifically, Wednesday (the day the withdrawal was announced) saw a net outflow of $1.96 billion, followed by outflows of $2.52 billion and $1.46 billion in the following two days. Currently, the EU is in the final stage of the MiCA transition period; from July 1st, platforms without MiCA authorization will no longer be able to provide services to EU users. Binance has begun notifying some EU users to transfer their funds to self-custodied wallets or other exchanges. Binance co-founder He Yi stated that although the European market only accounts for about 1% of its spot trading volume, the company still values this market and will continue to pursue its MiCA license application.
Private equity performance diverges: those who bet on AI and tech stocks made huge profits, while Yunzhou Capital, Banxia Investment, and others saw their assets shrink.
PANews reported on June 27th, citing Caixin, that amidst the A-share "tech bull market," funds are rapidly concentrating on the AI industry chain, leading to a significant divergence within the private equity sector. Some institutions heavily invested in AI and computing power are outperforming, while discretionary private equity firms that failed to keep pace are facing net asset value declines and shrinking assets under management. Data shows that Yunzhou Capital, once a discretionary private equity firm with assets exceeding 10 billion yuan, has seen its assets under management drop below 5 billion yuan. Previously, established firms like Banxia Investment and Tongben Investment, also managing over 10 billion yuan, have experienced similar declines. Li Bei, founder of Banxia Investment, responded to the fund's drawdown by stating that she is unwilling to blindly embrace AI, believing that the conditions for an AI bubble burst have already appeared. Industry insiders believe that whether or not a firm has timed its investments in the AI industry chain has become a watershed moment for discretionary private equity performance.
Song Xiaodong, former founder of Oasis Labs, joins Meta Super Intelligence Lab as Vice President of AI Research.
PANews reported on June 26 that Dawn Song, former founder of Oasis Labs and co-founder of Virtue AI, announced on the X platform that she will be joining Meta Super Intelligence Lab (MSL) as Vice President of AI Research. Several members of the Virtue AI team will also be joining, responsible for advancing the security and assurance of cutting-edge AI models and agent AI systems. It is understood that Dawn Song co-founded the AI security startup Virtue AI in 2024. Furthermore, according to Axios, Virtue AI co-founders Bo Li and Sanmi Koyejo will also be joining Meta Super Intelligence Lab.