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On June 22, Taiko.eth announced the latest developments regarding the security incident on platform X, stating that the risk of vulnerability attacks has been controlled. We have suspended the Ethereum Layer 1 cross-chain bridge and the ERC20 token vault, and all withdrawal functions through these two channels have been completely closed. The attacker exploited a vulnerability in the cross-chain bridge's message proof verification mechanism to launch the attack. In the absence of any real transaction events on the source chain, the Ethereum Layer 1 mainnet still recognized the forged message credentials, allowing the attacker to initiate fraudulent withdrawals and steal assets from the cross-chain bridge and token vault. Based on current estimates, the total losses from the theft could be as high as $1.7 million before we shut down the relevant contracts.

[Taiko.eth: Vulnerability Attack Risk Controlled, L1 Cross-Chain Bridge and ERC20 Vault Suspended]On June 22, Taiko.eth announced the latest developments regarding the security incident on platform X, stating that the risk of vulnerability attacks has been controlled. We have suspended the Ethereum Layer 1 cross-chain bridge and the ERC20 token vault, and all withdrawal functions through these two channels have been completely closed. The attacker exploited a vulnerability in the cross-chain bridge's message proof verification mechanism to launch the attack. In the absence of any real transaction events on the source chain, the Ethereum Layer 1 mainnet still recognized the forged message credentials, allowing the attacker to initiate fraudulent withdrawals and steal assets from the cross-chain bridge and token vault. Based on current estimates, the total losses from the theft could be as high as $1.7 million before we shut down the relevant contracts.

Taiko.eth: Vulnerability Attack Risk Controlled, L1 Cross-Chain Bridge and ERC20 Vault Suspended

On June 22, the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Finance issued the "Action Plan for Stabilizing and Promoting the Use of Foreign Investment," which mentioned the gradual enhancement of the openness level of the financial industry. Under the premise of improving regulatory cooperation and risk prevention, support more foreign-funded institutions to utilize risk management tools, including treasury bond futures, to strengthen financial risk management. Support foreign-funded institutions to legally carry out fund investment advisory services. Optimize cross-border business management and provide facilitation quotas for cross-border financing to key foreign-funded enterprises. Guide domestic banks to offer "customer-agent" international settlement document services for large foreign-funded enterprises. Optimize pre-communication services for listing applications at exchanges and support qualified key foreign-funded enterprises to raise funds through domestic listings.

[Three Departments: Gradually Enhance the Level of Financial Industry Openness]On June 22, the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Finance issued the "Action Plan for Stabilizing and Promoting the Use of Foreign Investment," which mentioned the gradual enhancement of the openness level of the financial industry. Under the premise of improving regulatory cooperation and risk prevention, support more foreign-funded institutions to utilize risk management tools, including treasury bond futures, to strengthen financial risk management. Support foreign-funded institutions to legally carry out fund investment advisory services. Optimize cross-border business management and provide facilitation quotas for cross-border financing to key foreign-funded enterprises. Guide domestic banks to offer "customer-agent" international settlement document services for large foreign-funded enterprises. Optimize pre-communication services for listing applications at exchanges and support qualified key foreign-funded enterprises to raise funds through domestic listings.

Three Departments: Gradually Enhance the Level of Financial Industry Openness

On June 22, The Wall Street Journal cited informed sources stating that Chinese robotics company Coowa Technology, backed by Japan's SoftBank Group, is preparing to go public in Hong Kong and plans to submit its initial public offering (IPO) application within the next two to three months. According to the sources, Coowa Technology raised over $600 million in its latest funding round, with a valuation exceeding $3 billion (approximately HKD 23.4 billion).

[Coowa Technology Plans to Apply for Hong Kong IPO with Valuation Over $3 Billion]On June 22, The Wall Street Journal cited informed sources stating that Chinese robotics company Coowa Technology, backed by Japan's SoftBank Group, is preparing to go public in Hong Kong and plans to submit its initial public offering (IPO) application within the next two to three months. According to the sources, Coowa Technology raised over $600 million in its latest funding round, with a valuation exceeding $3 billion (approximately HKD 23.4 billion).

Coowa Technology Plans to Apply for Hong Kong IPO with Valuation Over $3 Billion

On June 22, Bernstein analysts stated in a report that conventional DRAM prices, after experiencing an approximately 4.5-fold increase from Q3 2025 to Q2 2026, may continue to rise in 2027. As a result, the current average selling price per bit of conventional DRAM is now comparable to, or even higher than, high bandwidth memory (HBM). Bernstein noted that considering the higher bit density and yield, the revenue per wafer capacity for conventional DRAM this year could be twice that of HBM, with significantly higher profit margins. The firm estimates that HBM prices would need to increase by about three times to catch up with conventional DRAM in terms of revenue per wafer capacity. However, memory chip manufacturers may not aggressively raise HBM prices, as they understand that excessively high HBM costs could hinder the development of the entire AI ecosystem and ultimately suppress storage demand.

[Bernstein: Conventional DRAM Prices May Continue to Rise in 2027, HBM Faces Profit Catch-Up Pressure]On June 22, Bernstein analysts stated in a report that conventional DRAM prices, after experiencing an approximately 4.5-fold increase from Q3 2025 to Q2 2026, may continue to rise in 2027. As a result, the current average selling price per bit of conventional DRAM is now comparable to, or even higher than, high bandwidth memory (HBM). Bernstein noted that considering the higher bit density and yield, the revenue per wafer capacity for conventional DRAM this year could be twice that of HBM, with significantly higher profit margins. The firm estimates that HBM prices would need to increase by about three times to catch up with conventional DRAM in terms of revenue per wafer capacity. However, memory chip manufacturers may not aggressively raise HBM prices, as they understand that excessively high HBM costs could hinder the development of the entire AI ecosystem and ultimately suppress storage demand.

Bernstein: Conventional DRAM Prices May Continue to Rise in 2027, HBM Faces Profit Catch-Up Pressure

On June 22, the CEO of the Korea Exchange stated that the so-called 'Korean discount' issue has been largely resolved. To boost investor confidence in the stock market, approximately 300 out of about 2,700 listed companies will face delisting before next year. Efforts are underway to launch leveraged ETFs related to Korean chip manufacturers' stocks overseas, such as in Hong Kong and London.

[Korea Exchange CEO: The So-Called 'Korean Discount' Issue Has Been Largely Resolved]On June 22, the CEO of the Korea Exchange stated that the so-called 'Korean discount' issue has been largely resolved. To boost investor confidence in the stock market, approximately 300 out of about 2,700 listed companies will face delisting before next year. Efforts are underway to launch leveraged ETFs related to Korean chip manufacturers' stocks overseas, such as in Hong Kong and London.

Korea Exchange CEO: The So-Called 'Korean Discount' Issue Has Been Largely Resolved

On June 22, benefiting from the continued prosperity of the semiconductor industry, South Korea's export growth in early June remained robust. According to data released by South Korean customs on Monday, after adjusting for working day differences, exports in the first 20 days of June increased by 49.7% year-on-year, compared to a 52.6% increase in May; unadjusted, exports grew by 60.4%, imports rose by 23.2%, and the trade surplus reached $17.5 billion. Among these, chip exports led the way again with a year-on-year increase of 188.4%; exports of computer-related products surged by 293.3%; and petroleum product exports benefited from rising energy prices. The data indicates that external demand remains strong, driven by rapid growth in investments related to artificial intelligence and data centers; it also further demonstrates that semiconductors continue to be a major driver of South Korea's economic growth, helping to offset weaknesses in other economic sectors. Policymakers are assessing the long-term impacts of the semiconductor industry's prosperity, which not only supports economic growth but also boosts tax revenues and elevates asset prices.

[AI Chip Demand Drives Strong Export Growth in South Korea in Early June]On June 22, benefiting from the continued prosperity of the semiconductor industry, South Korea's export growth in early June remained robust. According to data released by South Korean customs on Monday, after adjusting for working day differences, exports in the first 20 days of June increased by 49.7% year-on-year, compared to a 52.6% increase in May; unadjusted, exports grew by 60.4%, imports rose by 23.2%, and the trade surplus reached $17.5 billion. Among these, chip exports led the way again with a year-on-year increase of 188.4%; exports of computer-related products surged by 293.3%; and petroleum product exports benefited from rising energy prices. The data indicates that external demand remains strong, driven by rapid growth in investments related to artificial intelligence and data centers; it also further demonstrates that semiconductors continue to be a major driver of South Korea's economic growth, helping to offset weaknesses in other economic sectors. Policymakers are assessing the long-term impacts of the semiconductor industry's prosperity, which not only supports economic growth but also boosts tax revenues and elevates asset prices.

AI Chip Demand Drives Strong Export Growth in South Korea in Early June

On June 22, the Shanghai Composite Index rose over 1% in the afternoon, the Shenzhen Component Index increased by 1.1%, and the ChiNext Index climbed by 1.5%. The sectors of cultivated diamonds, fluorochemicals, and minor metals saw the largest gains. (Jin10)

[A-shares' Three Major Indices Rise Over 1% in Afternoon Trading]On June 22, the Shanghai Composite Index rose over 1% in the afternoon, the Shenzhen Component Index increased by 1.1%, and the ChiNext Index climbed by 1.5%. The sectors of cultivated diamonds, fluorochemicals, and minor metals saw the largest gains. (Jin10)

A-shares' Three Major Indices Rise Over 1% in Afternoon Trading

On June 22, according to an official announcement, Huobi HTX has launched the MINIMAX/USDT perpetual contract with a maximum leverage of 10 times. Additionally, from June 22, 15:00 to June 29, 15:00 (UTC+8), Huobi HTX is hosting a MINIMAX contract trading party with a total prize pool of up to $20,000. During the event, users who sign up and participate in MINIMAX/USDT contract trading with a cumulative effective trading volume of ≥1,000 USDT will be eligible to share the prize pool based on their trading volume rankings. New users trading the MINIMAX/USDT contract will also receive exclusive benefits.

[Huobi HTX Launches MINIMAX Perpetual Contract and Trading Party]On June 22, according to an official announcement, Huobi HTX has launched the MINIMAX/USDT perpetual contract with a maximum leverage of 10 times. Additionally, from June 22, 15:00 to June 29, 15:00 (UTC+8), Huobi HTX is hosting a MINIMAX contract trading party with a total prize pool of up to $20,000. During the event, users who sign up and participate in MINIMAX/USDT contract trading with a cumulative effective trading volume of ≥1,000 USDT will be eligible to share the prize pool based on their trading volume rankings. New users trading the MINIMAX/USDT contract will also receive exclusive benefits.

Huobi HTX Launches MINIMAX Perpetual Contract and Trading Party

On June 22, the Japan National Corporate Pension Fund, which includes around 1,200 small and medium-sized enterprises and is based in Okayama City, announced plans to begin investing in cryptocurrency in the fiscal year 2026. While there have been some cases of Japanese companies investing in crypto assets, direct participation by domestic pension funds in crypto investments remains relatively rare. The fund plans to allocate approximately 1% of its total assets to cryptocurrency, investing indirectly through passively managed funds containing various crypto assets, overseen by large hedge funds. In terms of asset allocation, the structure for fiscal year 2025 is: 80% in yen, 15% in US dollars, and 5% in other currencies. For fiscal year 2026, the plan is to adjust this to 70% in yen, adding 10% in developed country currencies, and allocating the remaining 5% to emerging market currencies, gold, and crypto assets. The main purpose of this adjustment is to diversify currency risk. The fund's executive director, Ai Kiku, stated that the status of the US dollar as the global benchmark currency may be weakening, leading to the decision to reduce dollar holdings. He also noted that the correlation between Bitcoin and the US dollar index is nearly zero, making it a tool for hedging against currency depreciation risk and enhancing the portfolio's ability to withstand inflation.

[Japan's National Corporate Pension Fund Plans to Invest in Cryptocurrency to Diversify Currency Risk]On June 22, the Japan National Corporate Pension Fund, which includes around 1,200 small and medium-sized enterprises and is based in Okayama City, announced plans to begin investing in cryptocurrency in the fiscal year 2026. While there have been some cases of Japanese companies investing in crypto assets, direct participation by domestic pension funds in crypto investments remains relatively rare. The fund plans to allocate approximately 1% of its total assets to cryptocurrency, investing indirectly through passively managed funds containing various crypto assets, overseen by large hedge funds. In terms of asset allocation, the structure for fiscal year 2025 is: 80% in yen, 15% in US dollars, and 5% in other currencies. For fiscal year 2026, the plan is to adjust this to 70% in yen, adding 10% in developed country currencies, and allocating the remaining 5% to emerging market currencies, gold, and crypto assets. The main purpose of this adjustment is to diversify currency risk. The fund's executive director, Ai Kiku, stated that the status of the US dollar as the global benchmark currency may be weakening, leading to the decision to reduce dollar holdings. He also noted that the correlation between Bitcoin and the US dollar index is nearly zero, making it a tool for hedging against currency depreciation risk and enhancing the portfolio's ability to withstand inflation.

Japan's National Corporate Pension Fund Plans to Invest in Cryptocurrency to Diversify Currency Risk

On June 21, according to Saudi media outlets Hadath and Al Arabiya, the United States, Iran, and Pakistan have begun bilateral and trilateral contacts. The Iranian side stated that the first round of official negotiations will take place at 11:30 GMT (19:30 Beijing Time).

[First Round of Official Meeting in Switzerland to be Held at 19:30 Beijing Time]On June 21, according to Saudi media outlets Hadath and Al Arabiya, the United States, Iran, and Pakistan have begun bilateral and trilateral contacts. The Iranian side stated that the first round of official negotiations will take place at 11:30 GMT (19:30 Beijing Time).

First Round of Official Meeting in Switzerland to be Held at 19:30 Beijing Time

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Article

Negotiation Representatives from the U.S., Iran, and Pakistan Arrive in Switzerland for Technical Talks

First Round of Official Meeting in Switzerland to be Held at 19:30 Beijing Time

Clause de non-responsabilité：Le contenu ci-dessus ne représente pas les positions de HTX.，HTX ne fournit pas de recommandations de trading.。

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