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On June 1, the State Council of China issued the 'Regulations on Foreign Investment', which will take effect on July 1, 2026. China supports investors in conducting foreign investment activities based on market principles and actively participating in international cooperation and competition. Investors have the autonomy to make decisions regarding foreign investments, bear risks, and assume profits and losses. When conducting foreign investments and related activities, investors must comply with laws and regulations, international practices, respect local customs and cultural traditions, adhere to business ethics, act with honesty and integrity, engage in fair competition, fulfill social responsibilities, maintain the national image, and must not disrupt market competition order, harm the ecological environment, infringe upon the legitimate rights and interests of workers, jeopardize national security, or harm national interests and public social interests.

[Regulations on Foreign Investment Issued by the State Council of China]On June 1, the State Council of China issued the 'Regulations on Foreign Investment', which will take effect on July 1, 2026. China supports investors in conducting foreign investment activities based on market principles and actively participating in international cooperation and competition. Investors have the autonomy to make decisions regarding foreign investments, bear risks, and assume profits and losses. When conducting foreign investments and related activities, investors must comply with laws and regulations, international practices, respect local customs and cultural traditions, adhere to business ethics, act with honesty and integrity, engage in fair competition, fulfill social responsibilities, maintain the national image, and must not disrupt market competition order, harm the ecological environment, infringe upon the legitimate rights and interests of workers, jeopardize national security, or harm national interests and public social interests.

Regulations on Foreign Investment Issued by the State Council of China

On June 1, DeFi protocol Fluid tweeted that it has identified and controlled a vulnerability in its off-chain Merkle reward distribution infrastructure. The official core protocol and smart contracts remain unaffected, and user funds are not at risk. The affected contracts do not belong to the core protocol infrastructure and are used solely for reward distribution, with a minimal contract balance. The team is currently investigating the incident and will release a detailed post-incident report as soon as possible.

[Fluid Identifies and Controls Vulnerability in Off-Chain Merkle Reward Distribution Infrastructure]On June 1, DeFi protocol Fluid tweeted that it has identified and controlled a vulnerability in its off-chain Merkle reward distribution infrastructure. The official core protocol and smart contracts remain unaffected, and user funds are not at risk. The affected contracts do not belong to the core protocol infrastructure and are used solely for reward distribution, with a minimal contract balance. The team is currently investigating the incident and will release a detailed post-incident report as soon as possible.

Fluid Identifies and Controls Vulnerability in Off-Chain Merkle Reward Distribution Infrastructure

On June 1, the State Council of China released the 'Regulations on Foreign Investment', which will take effect on July 1, 2026. China supports investors in conducting foreign investment activities based on market principles and actively participating in international cooperation and competition. Investors have the autonomy to make decisions regarding foreign investments, bear risks, and assume profits and losses in accordance with the law. When engaging in foreign investment and related activities, investors must comply with laws and regulations, international practices, respect local customs and cultural traditions, adhere to business ethics, act with honesty and integrity, compete fairly, fulfill social responsibilities, maintain the national image, and must not disrupt market competition order, harm the ecological environment, infringe upon the legitimate rights and interests of workers, jeopardize national security, or damage national interests and public welfare.

[China's State Council Issues Regulations on Foreign Investment]On June 1, the State Council of China released the 'Regulations on Foreign Investment', which will take effect on July 1, 2026. China supports investors in conducting foreign investment activities based on market principles and actively participating in international cooperation and competition. Investors have the autonomy to make decisions regarding foreign investments, bear risks, and assume profits and losses in accordance with the law. When engaging in foreign investment and related activities, investors must comply with laws and regulations, international practices, respect local customs and cultural traditions, adhere to business ethics, act with honesty and integrity, compete fairly, fulfill social responsibilities, maintain the national image, and must not disrupt market competition order, harm the ecological environment, infringe upon the legitimate rights and interests of workers, jeopardize national security, or damage national interests and public welfare.

China's State Council Issues Regulations on Foreign Investment

On June 1, Goldman Sachs released an in-depth report on the global semiconductor memory industry, officially raising the target prices for SK Hynix, Samsung Electronics, and Kioxia significantly. The target price for SK Hynix has been raised to the range of 3.3 to 3.5 million KRW (implying about a 53% upside), while Samsung Electronics' target price has been adjusted to 480,000 KRW (implying about a 60% upside). Kioxia's rating has been upgraded to 'Buy', with a 12-month target price set at 93,000 JPY. The core logic behind this adjustment is the historic shift in the valuation framework of the memory industry—Goldman Sachs believes that sustained AI-driven demand, supply constraints, and the proliferation of long-term supply agreements (LTAs) are driving the memory industry from a highly cyclical commodity sector to a more predictable profit AI infrastructure sector. The industry benchmark has officially shifted from price-to-book (P/B) to price-to-earnings (P/E), currently anchored at approximately 9 times P/E. The report also significantly revised the supply-demand gap forecast, predicting that shortages in the three major categories of DRAM, NAND, and HBM will continue until 2028, with the HBM shortage being the most critical, as the market size for 2027 has been revised upward by 54% to $11.6 billion. Previously, Morgan Stanley and JPMorgan had pointed out that the large-scale implementation of LTAs is transforming the cyclical business of memory giants into technology infrastructure with stable cash flow attributes. Currently, the forward P/E of only 7.3 times presents a valuation discount of 50%-80% compared to TSMC, facing a historic opportunity for narrowing. However, Goldman Sachs also warns that the only solid evidence to support the new valuation framework is the real cash prepayments and legally locked deferred revenue obligations on the balance sheet; otherwise, the narrative across cycles may still risk repeating the fate of forward agreements becoming worthless as seen in 2017.

[Goldman Sachs Raises Target Prices for SK Hynix, Samsung Electronics, and Kioxia]On June 1, Goldman Sachs released an in-depth report on the global semiconductor memory industry, officially raising the target prices for SK Hynix, Samsung Electronics, and Kioxia significantly. The target price for SK Hynix has been raised to the range of 3.3 to 3.5 million KRW (implying about a 53% upside), while Samsung Electronics' target price has been adjusted to 480,000 KRW (implying about a 60% upside). Kioxia's rating has been upgraded to 'Buy', with a 12-month target price set at 93,000 JPY. The core logic behind this adjustment is the historic shift in the valuation framework of the memory industry—Goldman Sachs believes that sustained AI-driven demand, supply constraints, and the proliferation of long-term supply agreements (LTAs) are driving the memory industry from a highly cyclical commodity sector to a more predictable profit AI infrastructure sector. The industry benchmark has officially shifted from price-to-book (P/B) to price-to-earnings (P/E), currently anchored at approximately 9 times P/E. The report also significantly revised the supply-demand gap forecast, predicting that shortages in the three major categories of DRAM, NAND, and HBM will continue until 2028, with the HBM shortage being the most critical, as the market size for 2027 has been revised upward by 54% to $11.6 billion. Previously, Morgan Stanley and JPMorgan had pointed out that the large-scale implementation of LTAs is transforming the cyclical business of memory giants into technology infrastructure with stable cash flow attributes. Currently, the forward P/E of only 7.3 times presents a valuation discount of 50%-80% compared to TSMC, facing a historic opportunity for narrowing. However, Goldman Sachs also warns that the only solid evidence to support the new valuation framework is the real cash prepayments and legally locked deferred revenue obligations on the balance sheet; otherwise, the narrative across cycles may still risk repeating the fate of forward agreements becoming worthless as seen in 2017.

Goldman Sachs Raises Target Prices for SK Hynix, Samsung Electronics, and Kioxia

HTX data monitoring shows that UNI has fallen below 3 USDT, currently reported at 2.99 USDT, with a 24H decline of 1.90%.

【UNI falls below 3 USDT】HTX data monitoring shows that UNI has fallen below 3 USDT, currently reported at 2.99 USDT, with a 24H decline of 1.90%.

UNI falls below 3 USDT

According to monitoring by Dongcha Beating, MINIMAX-W (00100.HK) has officially launched the MiniMax M3 model, achieving cutting-edge capabilities in specialized tasks such as programming and agents. Utilizing the new attention architecture MSA (MiniMax Sparse Attention), it supports up to 1M ultra-long context. The MiniMax M3 is also a native multimodal model, supporting image and video input, and can operate a computer desktop. --------------------------------- Click the link below to join Dongcha Beating's Feishu AI news channel for 24/7 monitoring of global AI hotspots and news.

[MiniMax Officially Launches MiniMax M3 Model, Achieving Cutting-Edge Capabilities in Programming and Agent Tasks]According to monitoring by Dongcha Beating, MINIMAX-W (00100.HK) has officially launched the MiniMax M3 model, achieving cutting-edge capabilities in specialized tasks such as programming and agents. Utilizing the new attention architecture MSA (MiniMax Sparse Attention), it supports up to 1M ultra-long context. The MiniMax M3 is also a native multimodal model, supporting image and video input, and can operate a computer desktop. --------------------------------- Click the link below to join Dongcha Beating's Feishu AI news channel for 24/7 monitoring of global AI hotspots and news.

MiniMax Officially Launches MiniMax M3 Model, Achieving Cutting-Edge Capabilities in Programming and Agent Tasks

On June 1, data from Coinglass revealed that since 2016, Ethereum has experienced 10 'June' market trends, with 3 instances of gains and 7 instances of losses. The highest increase occurred in June 2017, with a monthly gain of 26.19%; the largest decrease was in June 2022, with a monthly drop of 44.79%. From 2016 to the present, Ethereum's average return for 'June' is -6.22%, only better than September's -6.35%, making it the second worst-performing month of the year. The median return rate is -2.42%.

[Ethereum's Historical June Returns: 3 Gains and 7 Losses Since 2016, Average Return -6.22%]On June 1, data from Coinglass revealed that since 2016, Ethereum has experienced 10 'June' market trends, with 3 instances of gains and 7 instances of losses. The highest increase occurred in June 2017, with a monthly gain of 26.19%; the largest decrease was in June 2022, with a monthly drop of 44.79%. From 2016 to the present, Ethereum's average return for 'June' is -6.22%, only better than September's -6.35%, making it the second worst-performing month of the year. The median return rate is -2.42%.

Ethereum's Historical June Returns: 3 Gains and 7 Losses Since 2016, Average Return -6.22%

HTX data monitoring shows that ETH has fallen below 2000 USDT, currently reported at 1998.91 USDT, with a 24H decline of 1.50%.

【ETH drops below 2000 USDT】HTX data monitoring shows that ETH has fallen below 2000 USDT, currently reported at 1998.91 USDT, with a 24H decline of 1.50%.

ETH drops below 2000 USDT

On June 1, Solana developer cavemanloverboy released the proposed proposal SIMD 547, which aims to improve the SOL token economic model through a resource consumption base fee burn mechanism. The proposal suggests charging a base fee of 0.1 lamport per cost unit for each transaction and fully burning it. Currently, the daily base fee burn amount on the network is only about 648 SOL, which is negligible compared to the inflation rate of approximately 60,000 SOL per day. According to community test data, if this mechanism is implemented, the estimated daily burn amount would be around 1,500–1,800 SOL, impacting market maker fees by about 3–5%, while the effect on ordinary users' transaction costs would be relatively significant, with some scenarios seeing increases of over 600%. The proposal clearly states that this mechanism can only be activated after the Alpenglow consensus upgrade is implemented and is currently still in the community discussion phase.

[Solana's New Proposal: Introduction of Base Fee for Transaction Resource Consumption with Full Burn, Estimated Daily Burn of 1,500–1,800 SOL]On June 1, Solana developer cavemanloverboy released the proposed proposal SIMD 547, which aims to improve the SOL token economic model through a resource consumption base fee burn mechanism. The proposal suggests charging a base fee of 0.1 lamport per cost unit for each transaction and fully burning it. Currently, the daily base fee burn amount on the network is only about 648 SOL, which is negligible compared to the inflation rate of approximately 60,000 SOL per day. According to community test data, if this mechanism is implemented, the estimated daily burn amount would be around 1,500–1,800 SOL, impacting market maker fees by about 3–5%, while the effect on ordinary users' transaction costs would be relatively significant, with some scenarios seeing increases of over 600%. The proposal clearly states that this mechanism can only be activated after the Alpenglow consensus upgrade is implemented and is currently still in the community discussion phase.

Solana's New Proposal: Introduction of Base Fee for Transaction Resource Consumption with Full Burn, Estimated Daily Burn of 1,500–1,800 SOL

Cardano has overtaken WAX to become the 5th highest blockchain in terms of NFT sales, according to cryptoslam data. To date, Cardano's cumulative on-chain NFT sales have reached $444,991,061 with 3,587,174 on-chain transactions, while WAX's cumulative on-chain NFT sales are $423,883,790 with 21,281,722 transactions. The current highest cumulative sales of NFT on the ethereum chain is approximately US$30,568,600,088.

Detail

【Cardano Becomes 5th Highest Blockchain in NFT Sales 】Cardano has overtaken WAX to become the 5th highest blockchain in terms of NFT sales, according to cryptoslam data. To date, Cardano's cumulative on-chain NFT sales have reached $444,991,061 with 3,587,174 on-chain transactions, while WAX's cumulative on-chain NFT sales are $423,883,790 with 21,281,722 transactions. The current highest cumulative sales of NFT on the ethereum chain is approximately US$30,568,600,088.

Cardano Becomes 5th Highest Blockchain in NFT Sales 

Microsoft to Discontinue Using Claude: Too Expensive, or a Calculated Move?

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US Spot Bitcoin ETFs Near Yearly Outflow Territory

New York Lawsuit Takes Aim At 3.79 Million Dormant Bitcoin

Galxe: How a Quest Platform Evolved into Web3's Growth Infrastructure

DeFi Has Reached Its Most Dangerous Moment: The Real Vulnerabilities Are Not in the Code

Investors Frantically Snap Up AI Firms with 'No Profits': A High-Stakes Gamble on 'the Right to Define the Future'

The 'Stock Call King' Serenity: 3840% Annual Return, Beating Institutions to the Punch

IOSG: DeFi at Its Most Critical Moment, The Real Vulnerability Lies Not in the Code

Retail Investors' 'Lead Brother' Serenity vs. Newly Minted Stock God Leopold: How Are the Two Top Hunters Mining AI's 'Physical Limits'?

Article

Maji Increases Ethereum Long Positions, Holding Value Reaches $10.36 Million, Less Than 2% from Liquidation Price

Cardano Becomes 5th Highest Blockchain in NFT Sales

Descargo de responsabilidad：El contenido anterior no representa las posiciones de HTX.，HTX no ofrece ninguna recomendación de trading.。

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