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July 14, according to Reuters, AI startup Reflection said on Tuesday that it has signed an agreement with Nebius (NBIS.O) worth over $1 billion to secure computing resources, including support from Nvidia's latest generation chips. The agreement extends the computing partnership Reflection reached with SpaceX in June. Reflection expects to pay SpaceX approximately $150 million per month by 2029 for computing power. Click the original link below to join the Beating · Feishu AI news channel, monitoring global AI hotspots and news 24/7.

[AI Startup Reflection Signs Over $1 Billion Computing Power Lease Agreement with Nebius]July 14, according to Reuters, AI startup Reflection said on Tuesday that it has signed an agreement with Nebius (NBIS.O) worth over $1 billion to secure computing resources, including support from Nvidia's latest generation chips. The agreement extends the computing partnership Reflection reached with SpaceX in June. Reflection expects to pay SpaceX approximately $150 million per month by 2029 for computing power. Click the original link below to join the Beating · Feishu AI news channel, monitoring global AI hotspots and news 24/7.

AI Startup Reflection Signs Over $1 Billion Computing Power Lease Agreement with Nebius

On July 14, Changxin Technology (688825.SH) announced that the company's initial public offering of shares will be listed on the STAR Market, with the issuance price set at 8.66 yuan per share. Investors are required to subscribe online and offline at this price on July 16, 2026 (T-day), without needing to pay subscription funds at the time of subscription. The offline subscription period is from 9:30 to 15:00, and the online subscription period is from 9:30 to 11:30 and 13:00 to 15:00. The initial number of shares issued is 668,808.8608 million shares, accounting for approximately 10.00% of the total share capital after issuance, and CICC is granted an over-allotment option of no more than 15.00% of the initial shares. The price-to-earnings ratio corresponding to the issuance price, based on the lower of diluted earnings per share after deducting non-recurring gains and losses for 2025, is 308.92 times (without exercising the over-allotment option), which is higher than the industry average P/E ratio of 76.32 times and the average P/E ratio of comparable companies of 134.62 times. The total estimated funds raised are approximately 57.919 billion yuan (before exercising the over-allotment option), and after deducting issuance expenses, the net amount is approximately 57.638 billion yuan.

[Changxin Technology: IPO Price Set at 8.66 Yuan/Share, Online and Offline Subscription on July 16]On July 14, Changxin Technology (688825.SH) announced that the company's initial public offering of shares will be listed on the STAR Market, with the issuance price set at 8.66 yuan per share. Investors are required to subscribe online and offline at this price on July 16, 2026 (T-day), without needing to pay subscription funds at the time of subscription. The offline subscription period is from 9:30 to 15:00, and the online subscription period is from 9:30 to 11:30 and 13:00 to 15:00. The initial number of shares issued is 668,808.8608 million shares, accounting for approximately 10.00% of the total share capital after issuance, and CICC is granted an over-allotment option of no more than 15.00% of the initial shares. The price-to-earnings ratio corresponding to the issuance price, based on the lower of diluted earnings per share after deducting non-recurring gains and losses for 2025, is 308.92 times (without exercising the over-allotment option), which is higher than the industry average P/E ratio of 76.32 times and the average P/E ratio of comparable companies of 134.62 times. The total estimated funds raised are approximately 57.919 billion yuan (before exercising the over-allotment option), and after deducting issuance expenses, the net amount is approximately 57.638 billion yuan.

Changxin Technology: IPO Price Set at 8.66 Yuan/Share, Online and Offline Subscription on July 16

July 14, according to GlobeNewswire, EthSystems announced its official establishment. The company was founded by the original team of the Ethereum Foundation's 'Institutional Privacy Working Group' and has received support from Bitmine, Sharplink, Joe Lubin, and others. EthSystems primarily develops Ethereum-based privacy and compliance technologies for regulated entities such as banks and asset management institutions, aiming to support institutions in conducting on-chain financial activities without disclosing sensitive information such as transaction details and customer identities. The company stated that it has completed one year of open-source research and development ahead of schedule and has established cooperative relationships with multiple central banks, regulatory agencies, and primary financial institutions.

[Ethereum Engineering and Research Company EthSystems Officially Launched]July 14, according to GlobeNewswire, EthSystems announced its official establishment. The company was founded by the original team of the Ethereum Foundation's 'Institutional Privacy Working Group' and has received support from Bitmine, Sharplink, Joe Lubin, and others. EthSystems primarily develops Ethereum-based privacy and compliance technologies for regulated entities such as banks and asset management institutions, aiming to support institutions in conducting on-chain financial activities without disclosing sensitive information such as transaction details and customer identities. The company stated that it has completed one year of open-source research and development ahead of schedule and has established cooperative relationships with multiple central banks, regulatory agencies, and primary financial institutions.

Ethereum Engineering and Research Company EthSystems Officially Launched

On July 14, Federal Reserve Chairman Walsh expressed optimism about the overall economic situation. He believes that the labor market is generally stable, with almost no layoffs and nominal wage growth. The Fed chairman is more cautious about the boom in the artificial intelligence sector. He said that while AI has driven an increase in corporate investment, it has also brought uncertainty to the economy. 'We are not yet clear about the extent to which the economy can benefit from the development of artificial intelligence,' he said. 'New opportunities emerging in the economic field also pose new challenges for policymakers. The Fed is closely monitoring the impact of these changes on inflation and the labor market.'

[Walsh: Optimistic about Economy, Cautious on AI Boom]On July 14, Federal Reserve Chairman Walsh expressed optimism about the overall economic situation. He believes that the labor market is generally stable, with almost no layoffs and nominal wage growth. The Fed chairman is more cautious about the boom in the artificial intelligence sector. He said that while AI has driven an increase in corporate investment, it has also brought uncertainty to the economy. 'We are not yet clear about the extent to which the economy can benefit from the development of artificial intelligence,' he said. 'New opportunities emerging in the economic field also pose new challenges for policymakers. The Fed is closely monitoring the impact of these changes on inflation and the labor market.'

Walsh: Optimistic about Economy, Cautious on AI Boom

Market data shows BTC has broken through $64,000, currently at $64,016. The 24-hour increase is 2.51%. Market volatility is high, please manage risks accordingly.

[BTC Breaks Through $64,000]Market data shows BTC has broken through $64,000, currently at $64,016. The 24-hour increase is 2.51%. Market volatility is high, please manage risks accordingly.

BTC Breaks Through $64,000

July 14, according to official news, Tether today announced it has led a $7 million Series A funding round in Pact Labs, with participation from Blockchange Ventures and Lasagna. This investment will support the development of Pact Labs, positioning it as a core infrastructure provider for USAT in areas such as payroll, salary advance, credit, and everyday payments.

[Tether Leads $7M Series A Funding in Pact Labs to Expand Stablecoin USAT Service Areas]July 14, according to official news, Tether today announced it has led a $7 million Series A funding round in Pact Labs, with participation from Blockchange Ventures and Lasagna. This investment will support the development of Pact Labs, positioning it as a core infrastructure provider for USAT in areas such as payroll, salary advance, credit, and everyday payments.

Tether Leads $7M Series A Funding in Pact Labs to Expand Stablecoin USAT Service Areas

1. US June unadjusted CPI annual rate 3.5%, expected 3.8%. Traders push back Fed rate hike bets to October.
2. Federal Reserve Chairman Walsh said the Fed has 'zero tolerance' for persistent high inflation and is cautious about the AI boom.
3. IBM (IBM.N) falls over 20% pre-market, company's preliminary Q2 revenue at $17.2 billion, expected $17.86 billion.
4. Goldman Sachs (GS.N) gains over 2% pre-market, Q2 stock sales and trading revenue at $7.42 billion, expected $5.02 billion.
5. KeyBanc raises target prices for multiple AI chip stocks, Arm target up to $430, Micron (MU) target up to $1750.
6. New York to temporarily ban construction of large new data centers.
7. SK Hynix accelerates mass production of HBM4 for Nvidia.
8. Nvidia establishes new customer 'white list' in Asia. After a new round of review, the number of customers approved to buy AI chips in Singapore, Malaysia, and Japan drops by more than half.
9. Trump plans to strengthen control of Strait of Hormuz, US strategic petroleum reserve falls to lowest since 1983.

[US Stock Pre-market News: CPI Below Expectations, IBM Revenue Misses, Shares Plunge]1. US June unadjusted CPI annual rate 3.5%, expected 3.8%. Traders push back Fed rate hike bets to October.
2. Federal Reserve Chairman Walsh said the Fed has 'zero tolerance' for persistent high inflation and is cautious about the AI boom.
3. IBM (IBM.N) falls over 20% pre-market, company's preliminary Q2 revenue at $17.2 billion, expected $17.86 billion.
4. Goldman Sachs (GS.N) gains over 2% pre-market, Q2 stock sales and trading revenue at $7.42 billion, expected $5.02 billion.
5. KeyBanc raises target prices for multiple AI chip stocks, Arm target up to $430, Micron (MU) target up to $1750.
6. New York to temporarily ban construction of large new data centers.
7. SK Hynix accelerates mass production of HBM4 for Nvidia.
8. Nvidia establishes new customer 'white list' in Asia. After a new round of review, the number of customers approved to buy AI chips in Singapore, Malaysia, and Japan drops by more than half.
9. Trump plans to strengthen control of Strait of Hormuz, US strategic petroleum reserve falls to lowest since 1983.

US Stock Pre-market News: CPI Below Expectations, IBM Revenue Misses, Shares Plunge

On July 14, traders delayed their Fed rate hike bets to October.

[Traders Delay Fed Rate Hike Bets to October]On July 14, traders delayed their Fed rate hike bets to October.

Traders Delay Fed Rate Hike Bets to October

HTX data monitoring shows that XRP has broken through 1.1 USDT, currently reported at 1.101 USDT, with a 24H increase of 2.76%.

【XRP breaks through 1.1 USDT】HTX data monitoring shows that XRP has broken through 1.1 USDT, currently reported at 1.101 USDT, with a 24H increase of 2.76%.

XRP breaks through 1.1 USDT

Charles Edwards, the founder of Capriole Investments tweet that the Bitcoin miner capitulation has officially ended today, making it the 3rd longest capitulation in history at 71 days. This capitulation zone was longer than 2021, and just two days shorter than 2018's where price touched $3.1K. He said that historically, Bitcoin's miner capitulations have captured major price lows and been great buy-signals. Miner capitulations that occur late cycle (at least 2 years after halving) and after cycle tops have been the most profitable long-term signals (eg. 2012, 2015, 2018).

Detail

【Capriole Investments founder: Hash Ribbon data show that bitcoin miner capitulation has ended】Charles Edwards, the founder of Capriole Investments tweet that the Bitcoin miner capitulation has officially ended today, making it the 3rd longest capitulation in history at 71 days. This capitulation zone was longer than 2021, and just two days shorter than 2018's where price touched $3.1K. He said that historically, Bitcoin's miner capitulations have captured major price lows and been great buy-signals. Miner capitulations that occur late cycle (at least 2 years after halving) and after cycle tops have been the most profitable long-term signals (eg. 2012, 2015, 2018).

Capriole Investments founder: Hash Ribbon data show that bitcoin miner capitulation has ended

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Capriole Investments founder: Hash Ribbon data show that bitcoin miner capitulation has ended

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