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On June 11, the World Bank stated on Thursday that if the Middle East conflict leads to a prolonged reduction in energy supply and a significant drop in stock prices, the global economic growth rate this year could be less than half of that expected for 2025. In a semiannual report on global outlook, the World Bank indicated that assuming the transport of oil, gas, and other raw materials through the Strait of Hormuz returns to normal starting in August, it expects this year's economic growth to slow to 2.5%, down from 2.9% last year. This forecast is a slight downgrade from the 2.6% growth expectation in January, but if excluding the economic contraction during the pandemic and the output decline during the 2009 global financial crisis, it would be the weakest year since 1991. However, the World Bank warned that the longer the conflict lasts, the greater the economic slowdown will be. Indermit Gill, the World Bank's chief economist, stated: 'Escalation of hostilities or prolonged disruptions in commodity supply could further drive up commodity prices, exacerbate inflationary pressures and food insecurity, trigger financial stress, and pull down economic growth.' If shipping disruptions are resolved quickly, the World Bank expects the U.S. economy to grow by 2.2% this year, unchanged from the January forecast. However, it noted that about two-thirds of the global economy would face a slowdown due to the conflict, with developing countries suffering the most severe setbacks, and the poorest households being hit the hardest.

[World Bank Warns: Continued Middle East War Could Halve Global Economic Growth by 2025]On June 11, the World Bank stated on Thursday that if the Middle East conflict leads to a prolonged reduction in energy supply and a significant drop in stock prices, the global economic growth rate this year could be less than half of that expected for 2025. In a semiannual report on global outlook, the World Bank indicated that assuming the transport of oil, gas, and other raw materials through the Strait of Hormuz returns to normal starting in August, it expects this year's economic growth to slow to 2.5%, down from 2.9% last year. This forecast is a slight downgrade from the 2.6% growth expectation in January, but if excluding the economic contraction during the pandemic and the output decline during the 2009 global financial crisis, it would be the weakest year since 1991. However, the World Bank warned that the longer the conflict lasts, the greater the economic slowdown will be. Indermit Gill, the World Bank's chief economist, stated: 'Escalation of hostilities or prolonged disruptions in commodity supply could further drive up commodity prices, exacerbate inflationary pressures and food insecurity, trigger financial stress, and pull down economic growth.' If shipping disruptions are resolved quickly, the World Bank expects the U.S. economy to grow by 2.2% this year, unchanged from the January forecast. However, it noted that about two-thirds of the global economy would face a slowdown due to the conflict, with developing countries suffering the most severe setbacks, and the poorest households being hit the hardest.

World Bank Warns: Continued Middle East War Could Halve Global Economic Growth by 2025

On June 11, Oracle opened lower and continued to decline, falling nearly 13%, marking its largest drop since December last year. The company's quarterly capital expenditures exceeded expectations, raising investor concerns about the profitability of its AI infrastructure business.

[Oracle Falls Nearly 13%, Largest Drop Since December Last Year]On June 11, Oracle opened lower and continued to decline, falling nearly 13%, marking its largest drop since December last year. The company's quarterly capital expenditures exceeded expectations, raising investor concerns about the profitability of its AI infrastructure business.

Oracle Falls Nearly 13%, Largest Drop Since December Last Year

On June 11, the three major U.S. stock indices opened higher, with the Nasdaq rising by 0.56%, the S&P 500 increasing by 0.28%, and the Dow Jones up by 0.11%. The Nasdaq Golden Dragon China Index fell over 1%, with Chinese stocks like Li Auto down 1.10%, Bilibili down 1.55%, Pinduoduo down 2.00%, Trip.com down 2.20%, JD.com down 2.28%, Alibaba down 2.81%, and XPeng down 3.10%. Most stocks in the memory chip and optical communication sectors rose, with Intel up about 6%, Marvell Technology rising over 3%, and ARM, SanDisk, Micron Technology, and Western Digital all increasing by over 1%. Oracle fell over 10% after the company reported quarterly capital expenditures that exceeded expectations, raising investor concerns about the profitability of its AI infrastructure business.

[U.S. Stocks Open Higher, Chip Stocks Strengthen, Chinese Stocks Under Pressure]On June 11, the three major U.S. stock indices opened higher, with the Nasdaq rising by 0.56%, the S&P 500 increasing by 0.28%, and the Dow Jones up by 0.11%. The Nasdaq Golden Dragon China Index fell over 1%, with Chinese stocks like Li Auto down 1.10%, Bilibili down 1.55%, Pinduoduo down 2.00%, Trip.com down 2.20%, JD.com down 2.28%, Alibaba down 2.81%, and XPeng down 3.10%. Most stocks in the memory chip and optical communication sectors rose, with Intel up about 6%, Marvell Technology rising over 3%, and ARM, SanDisk, Micron Technology, and Western Digital all increasing by over 1%. Oracle fell over 10% after the company reported quarterly capital expenditures that exceeded expectations, raising investor concerns about the profitability of its AI infrastructure business.

U.S. Stocks Open Higher, Chip Stocks Strengthen, Chinese Stocks Under Pressure

On June 11, ECB President Lagarde stated: Today's decision is not an aggressive move. The 25 basis point interest rate hike is a signal and is necessary.

[ECB President Lagarde: Today's Decision is Not an Aggressive Move]On June 11, ECB President Lagarde stated: Today's decision is not an aggressive move. The 25 basis point interest rate hike is a signal and is necessary.

ECB President Lagarde: Today's Decision is Not an Aggressive Move

On June 11, Benjamin Habbel, the Chief Business Officer of stablecoin giant Tether, has left the company after just nine months, during which he was responsible for driving the expansion of the company's business and its investment portfolio. In an email, Habbel stated that he will return to his co-founded private equity firm, Limestone Capital, as a managing partner.

[Tether's Chief Business Officer Benjamin Habbel Has Departed]On June 11, Benjamin Habbel, the Chief Business Officer of stablecoin giant Tether, has left the company after just nine months, during which he was responsible for driving the expansion of the company's business and its investment portfolio. In an email, Habbel stated that he will return to his co-founded private equity firm, Limestone Capital, as a managing partner.

Tether's Chief Business Officer Benjamin Habbel Has Departed

On June 11, Wedbush stated in a report that Oracle is taking the right steps to meet the surging demand for AI. Despite the company's stock price dropping 9% in pre-market trading following the announcement of its fourth-quarter results, Wedbush analysts noted that prepayments from Oracle's AI contracts and hardware provided by customers have acted as a buffer. The analysts indicated that these factors have reduced the amount of funding Oracle needs to raise and kept the financing requirements for fiscal year 2027 manageable in relation to the scale of AI demand. Oracle announced on Wednesday that it expects to raise $40 billion in debt and equity financing this year, which includes a previously announced $20 billion equity offering.

[Wedbush: Oracle's Spending is Essential to Meet AI Demand]On June 11, Wedbush stated in a report that Oracle is taking the right steps to meet the surging demand for AI. Despite the company's stock price dropping 9% in pre-market trading following the announcement of its fourth-quarter results, Wedbush analysts noted that prepayments from Oracle's AI contracts and hardware provided by customers have acted as a buffer. The analysts indicated that these factors have reduced the amount of funding Oracle needs to raise and kept the financing requirements for fiscal year 2027 manageable in relation to the scale of AI demand. Oracle announced on Wednesday that it expects to raise $40 billion in debt and equity financing this year, which includes a previously announced $20 billion equity offering.

Wedbush: Oracle's Spending is Essential to Meet AI Demand

On June 11, supply chain sources revealed that TSMC plans to moderately increase its foundry prices in the second half of the year due to rising upstream costs. The most sought-after 3nm process is expected to see a price increase of 15%. Chip manufacturers noted that the queue of customers has not significantly eased, and despite TSMC's continued ramp-up of wafer production capacity, which is projected to reach 160,000 to 175,000 wafers per month in the second quarter, the growth rate of AI demand still far exceeds market expectations.

[TSMC Increases 3nm Monthly Capacity to 175,000 Wafers but Still Cannot Meet AI Chip Demand; Price Hike Considered Up to 15%]On June 11, supply chain sources revealed that TSMC plans to moderately increase its foundry prices in the second half of the year due to rising upstream costs. The most sought-after 3nm process is expected to see a price increase of 15%. Chip manufacturers noted that the queue of customers has not significantly eased, and despite TSMC's continued ramp-up of wafer production capacity, which is projected to reach 160,000 to 175,000 wafers per month in the second quarter, the growth rate of AI demand still far exceeds market expectations.

TSMC Increases 3nm Monthly Capacity to 175,000 Wafers but Still Cannot Meet AI Chip Demand; Price Hike Considered Up to 15%

On June 11, Ondo Finance announced the hiring of John Hoffman, the former head of Invesco ETF, to lead its tokenized portfolio product business. John Hoffman joins the company as Managing Director and Head of Portfolio, having previously served as the Director of Distribution and Partnerships at Grayscale Investments. His focus will be on building and distributing tokenized portfolios, including those co-developed with asset management firms and strategies built around Ondo's existing products.

[Ondo Hires Former Invesco ETF Head to Lead Tokenized Portfolio Product Business]On June 11, Ondo Finance announced the hiring of John Hoffman, the former head of Invesco ETF, to lead its tokenized portfolio product business. John Hoffman joins the company as Managing Director and Head of Portfolio, having previously served as the Director of Distribution and Partnerships at Grayscale Investments. His focus will be on building and distributing tokenized portfolios, including those co-developed with asset management firms and strategies built around Ondo's existing products.

Ondo Hires Former Invesco ETF Head to Lead Tokenized Portfolio Product Business

On June 11, driven by ongoing inflationary pressures from the Iran conflict, US producer prices rose at the fastest rate in over three years in May. Data released by the US Bureau of Labor Statistics on Thursday showed that the Producer Price Index (PPI) increased by 6.5% year-on-year, marking the largest increase since November 2022, and rose by 1.1% month-on-month. The core PPI, excluding food and energy, rose by 4.9% year-on-year. The report highlights the escalating economic damage caused by energy price shocks resulting from the closure of the Strait of Hormuz. With the conflict unlikely to be resolved in the short term, businesses are passing on higher energy and transportation costs, leading to increased prices for other goods and services. Coupled with earlier data showing that consumer prices rose at the fastest rate in three years in May, Thursday's PPI report may further strengthen market expectations for the Federal Reserve to raise interest rates in 2026. As the labor market appears to regain momentum, the Federal Reserve is shifting its focus towards curbing inflation.

[US Producer Prices Surge in May, Highest Increase in Over Three Years]On June 11, driven by ongoing inflationary pressures from the Iran conflict, US producer prices rose at the fastest rate in over three years in May. Data released by the US Bureau of Labor Statistics on Thursday showed that the Producer Price Index (PPI) increased by 6.5% year-on-year, marking the largest increase since November 2022, and rose by 1.1% month-on-month. The core PPI, excluding food and energy, rose by 4.9% year-on-year. The report highlights the escalating economic damage caused by energy price shocks resulting from the closure of the Strait of Hormuz. With the conflict unlikely to be resolved in the short term, businesses are passing on higher energy and transportation costs, leading to increased prices for other goods and services. Coupled with earlier data showing that consumer prices rose at the fastest rate in three years in May, Thursday's PPI report may further strengthen market expectations for the Federal Reserve to raise interest rates in 2026. As the labor market appears to regain momentum, the Federal Reserve is shifting its focus towards curbing inflation.

US Producer Prices Surge in May, Highest Increase in Over Three Years

Singapore’s Temasek Holdings, one of the world’s top 10 sovereign wealth funds, said it doesn’t currently own Bitcoin, but it is active in blockchain investments and looking at emerging opportunities in the industry.
Temasek doesn’t comment on direct investing activities but as of “today, Temasek does not own Bitcoin,” said Pradyumna Agrawal, the fund’s managing director for blockchain investment, in an interview with Forkast’s Editor-in-Chief Angie Lau.

Detail

【Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets】Singapore’s Temasek Holdings, one of the world’s top 10 sovereign wealth funds, said it doesn’t currently own Bitcoin, but it is active in blockchain investments and looking at emerging opportunities in the industry.
Temasek doesn’t comment on direct investing activities but as of “today, Temasek does not own Bitcoin,” said Pradyumna Agrawal, the fund’s managing director for blockchain investment, in an interview with Forkast’s Editor-in-Chief Angie Lau.

Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets

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BTC breaks through 62000 USDT

Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets

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