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On July 27, according to an 8-K filing submitted by Strategy to the U.S. SEC, the company did not purchase any Bitcoin from July 20 to 26, 2026, maintaining a holding of 843,775 coins with a total holding cost of approximately $63.69 billion, at an average price of about $75,476. During the same period, the company sold 5.4292 million shares of MSTR common stock through its ATM plan, raising approximately $544.5 million; additionally, it repurchased 288,930 shares of STRC preferred stock for $25 million, leaving a remaining balance of about $975 million for the preferred stock repurchase plan. As of July 26, the company's dollar reserve balance was $3.75 billion, an increase of about $525 million from the previous week, sufficient to cover approximately 2.1 years of preferred stock dividend expenses.

[Strategy Plans to Raise $544.5 Million via ATM and Repurchase $25 Million in STRC Preferred Stock]On July 27, according to an 8-K filing submitted by Strategy to the U.S. SEC, the company did not purchase any Bitcoin from July 20 to 26, 2026, maintaining a holding of 843,775 coins with a total holding cost of approximately $63.69 billion, at an average price of about $75,476. During the same period, the company sold 5.4292 million shares of MSTR common stock through its ATM plan, raising approximately $544.5 million; additionally, it repurchased 288,930 shares of STRC preferred stock for $25 million, leaving a remaining balance of about $975 million for the preferred stock repurchase plan. As of July 26, the company's dollar reserve balance was $3.75 billion, an increase of about $525 million from the previous week, sufficient to cover approximately 2.1 years of preferred stock dividend expenses.

Strategy Plans to Raise $544.5 Million via ATM and Repurchase $25 Million in STRC Preferred Stock

On July 27, Strategy did not increase its Bitcoin holdings last week, and its dollar reserves rose to $3.75 billion, an increase of $525 million.

[Strategy Did Not Increase Bitcoin Holdings Last Week]On July 27, Strategy did not increase its Bitcoin holdings last week, and its dollar reserves rose to $3.75 billion, an increase of $525 million.

Strategy Did Not Increase Bitcoin Holdings Last Week

On July 27, Longxin Technology debuted on the STAR Market, closing its first day up 465.82% at 49 yuan per share, with an intraday peak increase of 535.45%. Based on the issue price of 8.66 yuan per share, a single subscription (500 shares) yields an unrealized profit of approximately 20,200 yuan. Offline allocation data shows that a total of 100 public fund managers with 5,507 products and 112 private funds with 2,458 products were allocated shares of Longxin Technology, receiving approximately 1.251 billion shares and 161 million shares, respectively. Public institutions were allocated a total of about 10.829 billion yuan, with 69 institutions receiving over 10 million yuan and 18 entering the 'billion club'. E Fund topped the allocation scale, with an unrealized profit exceeding 6.8 billion yuan on the first day; Southern Fund and ICBC Credit Suisse Fund ranked second and third, respectively. In the private fund sector, the total allocation amounted to about 1.397 billion yuan, with 25 private funds receiving over 10 million yuan each. Jiukun Investment, Ningbo Huanfang Quantitative, Yanfu Investment, and Century Frontier each received over 100 million yuan. Among them, Jiukun Investment had an unrealized profit exceeding 600 million yuan on the first day. Many institutions remain optimistic about the AI industry chain. Guotai Fund believes that Longxin Technology's listing is expected to accelerate capital expenditures, driving growth in semiconductor equipment and material demand, while the expansion of AI computing power and domestic substitution remain long-term driving forces for the industry. Xuan Yuan Investment, Chongyang Investment, and other institutions also expressed continued optimism for the AI industry chain and technology companies with core competitiveness in the medium to long term.

[Longxin Technology's IPO Generates Huge Profits for Public and Private Funds, E Fund Gains Over 6.8 Billion Yuan]On July 27, Longxin Technology debuted on the STAR Market, closing its first day up 465.82% at 49 yuan per share, with an intraday peak increase of 535.45%. Based on the issue price of 8.66 yuan per share, a single subscription (500 shares) yields an unrealized profit of approximately 20,200 yuan. Offline allocation data shows that a total of 100 public fund managers with 5,507 products and 112 private funds with 2,458 products were allocated shares of Longxin Technology, receiving approximately 1.251 billion shares and 161 million shares, respectively. Public institutions were allocated a total of about 10.829 billion yuan, with 69 institutions receiving over 10 million yuan and 18 entering the 'billion club'. E Fund topped the allocation scale, with an unrealized profit exceeding 6.8 billion yuan on the first day; Southern Fund and ICBC Credit Suisse Fund ranked second and third, respectively. In the private fund sector, the total allocation amounted to about 1.397 billion yuan, with 25 private funds receiving over 10 million yuan each. Jiukun Investment, Ningbo Huanfang Quantitative, Yanfu Investment, and Century Frontier each received over 100 million yuan. Among them, Jiukun Investment had an unrealized profit exceeding 600 million yuan on the first day. Many institutions remain optimistic about the AI industry chain. Guotai Fund believes that Longxin Technology's listing is expected to accelerate capital expenditures, driving growth in semiconductor equipment and material demand, while the expansion of AI computing power and domestic substitution remain long-term driving forces for the industry. Xuan Yuan Investment, Chongyang Investment, and other institutions also expressed continued optimism for the AI industry chain and technology companies with core competitiveness in the medium to long term.

Longxin Technology's IPO Generates Huge Profits for Public and Private Funds, E Fund Gains Over 6.8 Billion Yuan

On July 27, U.S. President Trump's push for interest rate cuts faced another challenge. Wall Street analysts widely expect that the Federal Open Market Committee (FOMC) meeting this week may keep interest rates unchanged, with even a possibility of a rate hike, as Trump's Middle East policy becomes a significant factor influencing rate decisions. The FOMC will meet on Tuesday and Wednesday to assess progress in the labor market and inflation targets. Currently, the U.S. inflation rate is around 3.5%, having decreased from May to June, but still significantly above the Fed's 2% target. Reports indicate that rising energy prices are one of the key drivers of inflation, with fuel prices up 15.7% compared to the same period last year. Despite a 4.9% decline during May to June, energy prices remain high due to ongoing conflicts in the Middle East affecting global oil supply. Wall Street believes that the Trump administration's military and diplomatic actions in the region are limiting the Fed's ability to cut rates. With no formal ceasefire agreement between the U.S. and Iran, uncertainties over control of the Strait of Hormuz persist, making it difficult for oil prices and inflation risks to fully subside. Aditya Bhave, Chief U.S. Economist at Bank of America, noted that the market has currently priced in a rate hike of about 10 basis points in July. Fed Chairman Kevin Walsh faces a tough choice: if he does not raise rates, it could impact the Fed's credibility in fighting inflation; if he does raise rates, it may conflict with his previous policy framework that favored observing supply shocks. Bank of America expects the Fed to maintain rates in July but still anticipates rate hikes of 25 basis points in September, October, and December. The market is also watching the policy independence under Walsh's leadership. Analysts believe that if the Fed avoids necessary rate hikes due to political pressure, it could similarly damage its credibility. According to data from the CME FedWatch tool, about 68.5% of rate traders expect the Fed to maintain rates this week, while the remaining market participants anticipate a 25 basis point hike to a range of 3.75%-4%.

[Trump's Rate Cut Plan Faces New Setback: Fed Likely to Maintain High Rates This Week, May Even Consider Rate Hike]On July 27, U.S. President Trump's push for interest rate cuts faced another challenge. Wall Street analysts widely expect that the Federal Open Market Committee (FOMC) meeting this week may keep interest rates unchanged, with even a possibility of a rate hike, as Trump's Middle East policy becomes a significant factor influencing rate decisions. The FOMC will meet on Tuesday and Wednesday to assess progress in the labor market and inflation targets. Currently, the U.S. inflation rate is around 3.5%, having decreased from May to June, but still significantly above the Fed's 2% target. Reports indicate that rising energy prices are one of the key drivers of inflation, with fuel prices up 15.7% compared to the same period last year. Despite a 4.9% decline during May to June, energy prices remain high due to ongoing conflicts in the Middle East affecting global oil supply. Wall Street believes that the Trump administration's military and diplomatic actions in the region are limiting the Fed's ability to cut rates. With no formal ceasefire agreement between the U.S. and Iran, uncertainties over control of the Strait of Hormuz persist, making it difficult for oil prices and inflation risks to fully subside. Aditya Bhave, Chief U.S. Economist at Bank of America, noted that the market has currently priced in a rate hike of about 10 basis points in July. Fed Chairman Kevin Walsh faces a tough choice: if he does not raise rates, it could impact the Fed's credibility in fighting inflation; if he does raise rates, it may conflict with his previous policy framework that favored observing supply shocks. Bank of America expects the Fed to maintain rates in July but still anticipates rate hikes of 25 basis points in September, October, and December. The market is also watching the policy independence under Walsh's leadership. Analysts believe that if the Fed avoids necessary rate hikes due to political pressure, it could similarly damage its credibility. According to data from the CME FedWatch tool, about 68.5% of rate traders expect the Fed to maintain rates this week, while the remaining market participants anticipate a 25 basis point hike to a range of 3.75%-4%.

Trump's Rate Cut Plan Faces New Setback: Fed Likely to Maintain High Rates This Week, May Even Consider Rate Hike

On July 27, as artificial intelligence rapidly drives wealth growth, the United States is engaged in a policy discussion on "how AI profits should be distributed." Several economists, tech researchers, and policymakers have proposed various solutions, including an AI sovereign wealth fund, public ownership, profit-sharing for data contributors, and reduced working hours. U.S. Senator Bernie Sanders previously suggested that the public should hold half of the shares in the AI industry. Although this proposal is unlikely to be translated into policy in the short term, it reflects a core issue: if AI creates trillions of dollars in new economic value in the future, should the general public share in those profits? Currently, the wealth generated by artificial intelligence is rapidly reflected in the increased market value of tech companies, but many American workers feel that while businesses reap enormous profits, communities and the public bear the costs of building data centers and energy consumption. Recent polls show that only 27% of Americans support the construction of data centers nearby, while 63% oppose it. Various paths have been proposed regarding AI profit distribution. Among them, Jaron Lanier, a scientist at Microsoft Research, has proposed a "Data Dignity" model, arguing that paying contributors of training data for AI can allow individuals to earn from providing data and content. Some researchers suggest establishing a mechanism similar to music copyright sharing, where AI companies would allocate part of their profits to a shared pool based on the impact of data contributions on model performance. However, opponents argue that AI models rely on millions or even billions of data sources, making it extremely difficult to accurately assess the value of individual data. Another proposal is to establish a public participatory AI governance mechanism. The RadicalxChange Foundation believes that a new legal rights system could empower public organizations to acquire shares, compensation, and governance rights in front of AI companies. Currently, how AI wealth is distributed has become one of the topics in U.S. tech policy and future elections. As the scale of the AI industry continues to expand, the debate over "who owns the value created by AI" is likely to intensify.

[Who Benefits After AI Creates Trillions in Value? Debate on AI Wealth Distribution in the U.S.]On July 27, as artificial intelligence rapidly drives wealth growth, the United States is engaged in a policy discussion on "how AI profits should be distributed." Several economists, tech researchers, and policymakers have proposed various solutions, including an AI sovereign wealth fund, public ownership, profit-sharing for data contributors, and reduced working hours. U.S. Senator Bernie Sanders previously suggested that the public should hold half of the shares in the AI industry. Although this proposal is unlikely to be translated into policy in the short term, it reflects a core issue: if AI creates trillions of dollars in new economic value in the future, should the general public share in those profits? Currently, the wealth generated by artificial intelligence is rapidly reflected in the increased market value of tech companies, but many American workers feel that while businesses reap enormous profits, communities and the public bear the costs of building data centers and energy consumption. Recent polls show that only 27% of Americans support the construction of data centers nearby, while 63% oppose it. Various paths have been proposed regarding AI profit distribution. Among them, Jaron Lanier, a scientist at Microsoft Research, has proposed a "Data Dignity" model, arguing that paying contributors of training data for AI can allow individuals to earn from providing data and content. Some researchers suggest establishing a mechanism similar to music copyright sharing, where AI companies would allocate part of their profits to a shared pool based on the impact of data contributions on model performance. However, opponents argue that AI models rely on millions or even billions of data sources, making it extremely difficult to accurately assess the value of individual data. Another proposal is to establish a public participatory AI governance mechanism. The RadicalxChange Foundation believes that a new legal rights system could empower public organizations to acquire shares, compensation, and governance rights in front of AI companies. Currently, how AI wealth is distributed has become one of the topics in U.S. tech policy and future elections. As the scale of the AI industry continues to expand, the debate over "who owns the value created by AI" is likely to intensify.

Who Benefits After AI Creates Trillions in Value? Debate on AI Wealth Distribution in the U.S.

On July 27, General Brad Cooper, commander of U.S. Central Command, stated that the current military actions against Iran have reached their "effectiveness limit" and recommended halting bombings of Iranian targets around the Strait of Hormuz. Reports indicate that Cooper's assessment influenced President Trump's decision to pause military actions. Since last Friday, the U.S. has not launched new attacks, and Iran has also suspended military operations against targets in the Gulf region. It is reported that the U.S. military had been conducting strikes against Iran for nearly two weeks, significantly weakening Iran's military deployments around the Strait of Hormuz. Meanwhile, Chairman of the Joint Chiefs of Staff Mark Milley noted that the U.S. missile interception stockpile is declining, which may affect the U.S.'s ability to protect its own and allied positions. U.S. Ambassador to the United Nations Mike Pompeo stated that the ceasefire aims to "create space for diplomacy." He mentioned that Trump had previously attempted diplomatic avenues and is now hoping to provide another opportunity for negotiations. Additionally, CBS reported that Iranian officials are negotiating with Oman to restore the ceasefire agreement and have made progress on reopening the Strait of Hormuz. Concurrently, the U.S. and the U.K. plan to hold a high-level meeting to discuss forming an international coalition to ensure the safety of shipping in the Strait of Hormuz. Axios reported that the meeting is expected to take place in London, with U.S. Defense Secretary Mark Esper and other officials like Mark Milley likely to attend. However, some countries have stated that they will only consider joining the escort coalition after hostilities in the Strait of Hormuz cease. The Trump administration now faces a critical choice between continuing military escalation, maintaining the ceasefire, or pursuing a diplomatic resolution.

[US Military Halts Strikes on Iran: Top General Says Actions Have Reached Effectiveness Limit, Trump Faces Escalation or Diplomatic Choice]On July 27, General Brad Cooper, commander of U.S. Central Command, stated that the current military actions against Iran have reached their "effectiveness limit" and recommended halting bombings of Iranian targets around the Strait of Hormuz. Reports indicate that Cooper's assessment influenced President Trump's decision to pause military actions. Since last Friday, the U.S. has not launched new attacks, and Iran has also suspended military operations against targets in the Gulf region. It is reported that the U.S. military had been conducting strikes against Iran for nearly two weeks, significantly weakening Iran's military deployments around the Strait of Hormuz. Meanwhile, Chairman of the Joint Chiefs of Staff Mark Milley noted that the U.S. missile interception stockpile is declining, which may affect the U.S.'s ability to protect its own and allied positions. U.S. Ambassador to the United Nations Mike Pompeo stated that the ceasefire aims to "create space for diplomacy." He mentioned that Trump had previously attempted diplomatic avenues and is now hoping to provide another opportunity for negotiations. Additionally, CBS reported that Iranian officials are negotiating with Oman to restore the ceasefire agreement and have made progress on reopening the Strait of Hormuz. Concurrently, the U.S. and the U.K. plan to hold a high-level meeting to discuss forming an international coalition to ensure the safety of shipping in the Strait of Hormuz. Axios reported that the meeting is expected to take place in London, with U.S. Defense Secretary Mark Esper and other officials like Mark Milley likely to attend. However, some countries have stated that they will only consider joining the escort coalition after hostilities in the Strait of Hormuz cease. The Trump administration now faces a critical choice between continuing military escalation, maintaining the ceasefire, or pursuing a diplomatic resolution.

US Military Halts Strikes on Iran: Top General Says Actions Have Reached Effectiveness Limit, Trump Faces Escalation or Diplomatic Choice

Changxin Technology officially debuted on the STAR Market today, creating a wealth myth that has brought over 1 trillion yuan in unrealized gains to Hefei's state-owned assets (corresponding to a market value of over 1.21 trillion yuan for equity). Seven company executives have reached a net worth of over 1 billion yuan, including Chairman Zhu Yiming and core technical staff member Cao Kanyu, whose stock holdings exceed 10 billion yuan. Executive Vice President Zhu Wenju is valued at 2.915 billion yuan, Co-President Zhang Yu at 2.765 billion yuan, Senior Vice President and CFO Huang Danyang at 1.983 billion yuan, Senior Vice President and core technical staff member Li Hongwen at 1.523 billion yuan, and Vice President and Board Secretary Yuan Yuan at 1.107 billion yuan. On the employee stock ownership front, over 6,700 individuals have benefited, with at least 237 millionaires emerging. However, all shareholders' stock values are calculated based on the opening price of 49.50 yuan and a total post-issue share capital of 66.881 billion shares, representing only unrealized gains. The stock price continues to fluctuate, and paper profits do not guarantee actual realizable gains.

[Changxin Technology Goes Public: Seven Executives Worth Over 1 Billion, Hefei State-Owned Assets Gain Over 1 Trillion]Changxin Technology officially debuted on the STAR Market today, creating a wealth myth that has brought over 1 trillion yuan in unrealized gains to Hefei's state-owned assets (corresponding to a market value of over 1.21 trillion yuan for equity). Seven company executives have reached a net worth of over 1 billion yuan, including Chairman Zhu Yiming and core technical staff member Cao Kanyu, whose stock holdings exceed 10 billion yuan. Executive Vice President Zhu Wenju is valued at 2.915 billion yuan, Co-President Zhang Yu at 2.765 billion yuan, Senior Vice President and CFO Huang Danyang at 1.983 billion yuan, Senior Vice President and core technical staff member Li Hongwen at 1.523 billion yuan, and Vice President and Board Secretary Yuan Yuan at 1.107 billion yuan. On the employee stock ownership front, over 6,700 individuals have benefited, with at least 237 millionaires emerging. However, all shareholders' stock values are calculated based on the opening price of 49.50 yuan and a total post-issue share capital of 66.881 billion shares, representing only unrealized gains. The stock price continues to fluctuate, and paper profits do not guarantee actual realizable gains.

Changxin Technology Goes Public: Seven Executives Worth Over 1 Billion, Hefei State-Owned Assets Gain Over 1 Trillion

On July 27, according to the Bloomberg Billionaires Index, after Changxin Technology went public, CEO Zhu Yiming's net worth surged nearly 300% to $13.9 billion. In the company's IPO prospectus in May, Zhu promised to transfer 767.9 million shares for an employee incentive plan. Following a 466% increase in stock price on the first day of trading, the value of these shares has reached $5.6 billion. This means that 40% of Zhu Yiming's wealth will be distributed as bonuses to employees. Additionally, Zhu has committed not to reduce his shareholding for ten years. However, the bonus plan has specific conditions, including a three-year vesting period, a ten-year distribution period, and an unclear scope of beneficiaries. The company had a total of 19,298 employees as of the end of 2025.

[After IPO, CEO Zhu Yiming Promises $5.6 Billion in Employee Bonuses]On July 27, according to the Bloomberg Billionaires Index, after Changxin Technology went public, CEO Zhu Yiming's net worth surged nearly 300% to $13.9 billion. In the company's IPO prospectus in May, Zhu promised to transfer 767.9 million shares for an employee incentive plan. Following a 466% increase in stock price on the first day of trading, the value of these shares has reached $5.6 billion. This means that 40% of Zhu Yiming's wealth will be distributed as bonuses to employees. Additionally, Zhu has committed not to reduce his shareholding for ten years. However, the bonus plan has specific conditions, including a three-year vesting period, a ten-year distribution period, and an unclear scope of beneficiaries. The company had a total of 19,298 employees as of the end of 2025.

After IPO, CEO Zhu Yiming Promises $5.6 Billion in Employee Bonuses

On July 27, Iranian media reported that the Iranian military warned that any future acts of aggression would be met with a stronger retaliation.

[Iranian Military Warns of Stronger Retaliation to Future Aggression]On July 27, Iranian media reported that the Iranian military warned that any future acts of aggression would be met with a stronger retaliation.

Iranian Military Warns of Stronger Retaliation to Future Aggression

JPMorgan Chase strategists said the Fed may raise interest rates for the last time in September, and the stock market may continue to rise in the second half of the year.
Strategists led by Mislav Matejka said the Fed is expected to raise interest rates sharply in September, but after that, there will be no more hawkish moves from the Fed to surprise the market.
They expect the balance between economic growth and monetary policy to improve and "help the broader market continue to recover". They expect rate-sensitive growth stocks to continue to outperform value stocks even as investors remain concerned that the Fed may remain hawkish.

Detail

【JPMorgan sees Fed's last big rate hike in September】JPMorgan Chase strategists said the Fed may raise interest rates for the last time in September, and the stock market may continue to rise in the second half of the year.
Strategists led by Mislav Matejka said the Fed is expected to raise interest rates sharply in September, but after that, there will be no more hawkish moves from the Fed to surprise the market.
They expect the balance between economic growth and monetary policy to improve and "help the broader market continue to recover". They expect rate-sensitive growth stocks to continue to outperform value stocks even as investors remain concerned that the Fed may remain hawkish.

JPMorgan sees Fed's last big rate hike in September

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JPMorgan sees Fed's last big rate hike in September

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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