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According to SoSoValue data, yesterday (Eastern Time, June 23), the total net outflow of Ethereum spot ETFs was $82.35 million. The Ethereum spot ETF with the highest single-day net inflow yesterday was Fidelity's ETF FETH, which saw a net inflow of $15.69 million, bringing its historical total net inflow to $2.126 billion. The Ethereum spot ETF with the highest single-day net outflow was Blackrock's ETF ETHA, which experienced a net outflow of $86.068 million, with its historical total net inflow currently at $11.164 billion. As of the time of this report, the total net asset value of Ethereum spot ETFs stands at $8.955 billion, with the ETF net asset ratio (market value as a percentage of Ethereum's total market value) reaching 4.46%, and the historical cumulative net inflow has reached $11.028 billion.

[Ethereum Spot ETF Sees $82.35 Million Net Outflow Yesterday, Continuing Four-Day Trend]According to SoSoValue data, yesterday (Eastern Time, June 23), the total net outflow of Ethereum spot ETFs was $82.35 million. The Ethereum spot ETF with the highest single-day net inflow yesterday was Fidelity's ETF FETH, which saw a net inflow of $15.69 million, bringing its historical total net inflow to $2.126 billion. The Ethereum spot ETF with the highest single-day net outflow was Blackrock's ETF ETHA, which experienced a net outflow of $86.068 million, with its historical total net inflow currently at $11.164 billion. As of the time of this report, the total net asset value of Ethereum spot ETFs stands at $8.955 billion, with the ETF net asset ratio (market value as a percentage of Ethereum's total market value) reaching 4.46%, and the historical cumulative net inflow has reached $11.028 billion.

Ethereum Spot ETF Sees $82.35 Million Net Outflow Yesterday, Continuing Four-Day Trend

Possibly due to a mention by Serenity, Tianfu Communication's stock briefly rose over 4.5%, with a current market value reported at 354.8 billion yuan.

[Serenity Calls Tianfu Communication, Stock Rises Over 4.5%]Possibly due to a mention by Serenity, Tianfu Communication's stock briefly rose over 4.5%, with a current market value reported at 354.8 billion yuan.

Serenity Calls Tianfu Communication, Stock Rises Over 4.5%

On June 24, Japanese semiconductor testing equipment giant Advantest (TSE: 6857) announced a partnership with silicon photonics chip company OpenLight to jointly develop high-volume testing solutions for silicon photonic devices. This collaboration comes amid the ongoing expansion of AI and high-performance computing workloads, which are driving data centers to accelerate the adoption of silicon photonics and co-packaged optics (CPO) technology, thereby creating structural bottlenecks in the mass production testing of optoelectronic devices. OpenLight has previously completed a total of $84 million in financing, with the latest A-1 round raising $50 million. Serenity commented that OpenLight's ecosystem is continuously expanding, with its public market partner network being quite comprehensive, covering Jabil (JBL, collaborating with SIVE to advance the scaling of photonic integrated circuits), Marvell (MRVL) and MaxLinear (MXL) providing DSP, Tower Semiconductor (TSEM) handling wafer foundry, and TFC Optical (Tianfu Communication, specializing in optical packaging and assembly). Serenity pointed out that while unqualified investors cannot directly invest in private companies like OpenLight, they can still gain indirect exposure to the growth of the silicon photonics sector by investing in the aforementioned related public companies, given the highly interconnected nature of the optical industry chain. This collaboration will position Advantest in direct competition with Teradyne's Photon 100 in the optoelectronic testing layer, further intensifying the competitive landscape of the semiconductor automatic test equipment duopoly.

[Serenity Mentions Tianfu Communication, Company Stock Rises Over 3.9% Temporarily]On June 24, Japanese semiconductor testing equipment giant Advantest (TSE: 6857) announced a partnership with silicon photonics chip company OpenLight to jointly develop high-volume testing solutions for silicon photonic devices. This collaboration comes amid the ongoing expansion of AI and high-performance computing workloads, which are driving data centers to accelerate the adoption of silicon photonics and co-packaged optics (CPO) technology, thereby creating structural bottlenecks in the mass production testing of optoelectronic devices. OpenLight has previously completed a total of $84 million in financing, with the latest A-1 round raising $50 million. Serenity commented that OpenLight's ecosystem is continuously expanding, with its public market partner network being quite comprehensive, covering Jabil (JBL, collaborating with SIVE to advance the scaling of photonic integrated circuits), Marvell (MRVL) and MaxLinear (MXL) providing DSP, Tower Semiconductor (TSEM) handling wafer foundry, and TFC Optical (Tianfu Communication, specializing in optical packaging and assembly). Serenity pointed out that while unqualified investors cannot directly invest in private companies like OpenLight, they can still gain indirect exposure to the growth of the silicon photonics sector by investing in the aforementioned related public companies, given the highly interconnected nature of the optical industry chain. This collaboration will position Advantest in direct competition with Teradyne's Photon 100 in the optoelectronic testing layer, further intensifying the competitive landscape of the semiconductor automatic test equipment duopoly.

Serenity Mentions Tianfu Communication, Company Stock Rises Over 3.9% Temporarily

On June 24, Pakistan Foreign Ministry spokesperson Tahir Andrabi stated that the technical talks between the United States and Iran will resume on the 30th of this month. (Xinhua News Agency)

[Pakistan Foreign Ministry: Technical Talks Between US and Iran to Resume on 30th of This Month]On June 24, Pakistan Foreign Ministry spokesperson Tahir Andrabi stated that the technical talks between the United States and Iran will resume on the 30th of this month. (Xinhua News Agency)

Pakistan Foreign Ministry: Technical Talks Between US and Iran to Resume on 30th of This Month

On June 24, according to official news, the Smart Allocator mechanism of the decentralized stablecoin USDD has generated a cumulative investment return of $20.016 million for users. Smart Allocator is the profit-sharing mechanism of USDD, which invests in quality projects to obtain returns such as interest and platform rewards, and returns the profits to users. All operations are transparent and publicly visible on the blockchain.

[USDD Smart Allocator Achieves Over $20 Million in Cumulative Investment Returns]On June 24, according to official news, the Smart Allocator mechanism of the decentralized stablecoin USDD has generated a cumulative investment return of $20.016 million for users. Smart Allocator is the profit-sharing mechanism of USDD, which invests in quality projects to obtain returns such as interest and platform rewards, and returns the profits to users. All operations are transparent and publicly visible on the blockchain.

USDD Smart Allocator Achieves Over $20 Million in Cumulative Investment Returns

On June 24, the Wall Street Journal reported that Iranian diplomats have been studying 'The Art of the Deal,' co-authored by Trump and journalist Tony Schwartz in 1987, due to Trump's unconventional style. The book suggests that negotiators make extreme and unpredictable demands to create anxiety and force opponents to concede. Iranian negotiators have told intermediaries that they consulted a team of psychologists to help understand Trump's mindset and predict his public reaction to Iranian proposals. Political analysts and mediators indicate that Trump's high-profile and tough statements have yet to elicit additional concessions from Iran. Mohammad Amiri, an Iran expert at the Wilson Center in Washington, stated, 'Trump is employing strategies from 'The Art of the Deal' to test the other side's resolve through extreme threats. But the Iranians are very aware of his tactics.' A source familiar with the Iranian diplomatic negotiations in Switzerland noted that there are no psychologists on the Iranian negotiating team, and they prefer to avoid speculating on Trump's motivations or decisions from a psychological perspective.

[Iran Studies 'The Art of the Deal' to Decode Trump's Negotiation Tactics]On June 24, the Wall Street Journal reported that Iranian diplomats have been studying 'The Art of the Deal,' co-authored by Trump and journalist Tony Schwartz in 1987, due to Trump's unconventional style. The book suggests that negotiators make extreme and unpredictable demands to create anxiety and force opponents to concede. Iranian negotiators have told intermediaries that they consulted a team of psychologists to help understand Trump's mindset and predict his public reaction to Iranian proposals. Political analysts and mediators indicate that Trump's high-profile and tough statements have yet to elicit additional concessions from Iran. Mohammad Amiri, an Iran expert at the Wilson Center in Washington, stated, 'Trump is employing strategies from 'The Art of the Deal' to test the other side's resolve through extreme threats. But the Iranians are very aware of his tactics.' A source familiar with the Iranian diplomatic negotiations in Switzerland noted that there are no psychologists on the Iranian negotiating team, and they prefer to avoid speculating on Trump's motivations or decisions from a psychological perspective.

Iran Studies 'The Art of the Deal' to Decode Trump's Negotiation Tactics

On June 24, according to Saudi Arabia's Al Arabiya television, Pakistan stated that the technical talks between the United States and Iran will resume next week.

[Pakistan: Technical Talks Between the U.S. and Iran to Resume Next Week]On June 24, according to Saudi Arabia's Al Arabiya television, Pakistan stated that the technical talks between the United States and Iran will resume next week.

Pakistan: Technical Talks Between the U.S. and Iran to Resume Next Week

On June 24, a report by derivatives and quantitative strategist Gordon Schneider published on Smartkarma indicated that the 2x leveraged exchange-traded funds (ETFs) tracking Samsung Electronics and SK Hynix would need to rise approximately 33% to return to the levels seen on June 22, which implies that their stocks must rebound by about 16.5%. The report noted that on Tuesday, both Samsung Electronics and SK Hynix saw their stock prices drop by double digits, leading to a nearly 25% decline in the related ETF prices, with the Samsung 2x leveraged ETF having accumulated a 5.4% loss since its launch on May 27. He stated that the newly launched single-stock 2x leveraged ETFs in South Korea can enhance returns in trending markets, but their value can be quickly eroded during periods of high market volatility, making them most suitable for short-term tactical momentum investing.

[Analyst: Samsung Electronics and SK Hynix Leveraged ETFs Face Reality Check]On June 24, a report by derivatives and quantitative strategist Gordon Schneider published on Smartkarma indicated that the 2x leveraged exchange-traded funds (ETFs) tracking Samsung Electronics and SK Hynix would need to rise approximately 33% to return to the levels seen on June 22, which implies that their stocks must rebound by about 16.5%. The report noted that on Tuesday, both Samsung Electronics and SK Hynix saw their stock prices drop by double digits, leading to a nearly 25% decline in the related ETF prices, with the Samsung 2x leveraged ETF having accumulated a 5.4% loss since its launch on May 27. He stated that the newly launched single-stock 2x leveraged ETFs in South Korea can enhance returns in trending markets, but their value can be quickly eroded during periods of high market volatility, making them most suitable for short-term tactical momentum investing.

Analyst: Samsung Electronics and SK Hynix Leveraged ETFs Face Reality Check

On June 24, the Korean Tax Tribunal recently ruled for a reinvestigation regarding a dispute over gift tax on Bitcoin. The case involves whether Bitcoin transferred through a spouse's overseas exchange account constitutes a gift, drawing significant attention from the cryptocurrency tax community. The facts of the case reveal that taxpayer A transferred 67 Bitcoins stored in a personal hardware cold wallet (Ledger) through spouse B's overseas exchange account due to regulatory restrictions from Korea's Travel Rule, completing the transfer in just 2 to 8 minutes before selling the Bitcoin to purchase property. The tax authorities deemed this action as a gift between spouses and imposed gift tax on A. A appealed, arguing that the Bitcoin was personal property held since before 2014 and submitted a memorandum of understanding with the spouse, which stated that if the Bitcoin appreciated, property would be purchased, and 13 Bitcoins would be gifted to the spouse as compensation. A contended that classifying the transfer as a gift based solely on the brief passage through the spouse's account was a mischaracterization. After review, the Tax Tribunal found that A failed to adequately submit key evidence such as the memorandum of understanding, gift contract, and photos of the hardware wallet during the tax investigation, resulting in procedural flaws. Additionally, the distribution method of the 80 Bitcoins, with 67 transferred to A's account and 13 retained in the spouse's name, was consistent with A's statements. Consequently, the Tribunal ruled that a reinvestigation is necessary regarding the actual ownership of the hardware wallet and the substantive ownership of the digital assets. This case is seen as a landmark in Korea's cryptocurrency tax practices, directly addressing the challenges of asset ownership determination for cold wallet assets and the tax characterization of inter-account transfers.

[Korean Tax Tribunal: Reinvestigation Required for Gift Tax on Bitcoin Transferred via Spouse's Account]On June 24, the Korean Tax Tribunal recently ruled for a reinvestigation regarding a dispute over gift tax on Bitcoin. The case involves whether Bitcoin transferred through a spouse's overseas exchange account constitutes a gift, drawing significant attention from the cryptocurrency tax community. The facts of the case reveal that taxpayer A transferred 67 Bitcoins stored in a personal hardware cold wallet (Ledger) through spouse B's overseas exchange account due to regulatory restrictions from Korea's Travel Rule, completing the transfer in just 2 to 8 minutes before selling the Bitcoin to purchase property. The tax authorities deemed this action as a gift between spouses and imposed gift tax on A. A appealed, arguing that the Bitcoin was personal property held since before 2014 and submitted a memorandum of understanding with the spouse, which stated that if the Bitcoin appreciated, property would be purchased, and 13 Bitcoins would be gifted to the spouse as compensation. A contended that classifying the transfer as a gift based solely on the brief passage through the spouse's account was a mischaracterization. After review, the Tax Tribunal found that A failed to adequately submit key evidence such as the memorandum of understanding, gift contract, and photos of the hardware wallet during the tax investigation, resulting in procedural flaws. Additionally, the distribution method of the 80 Bitcoins, with 67 transferred to A's account and 13 retained in the spouse's name, was consistent with A's statements. Consequently, the Tribunal ruled that a reinvestigation is necessary regarding the actual ownership of the hardware wallet and the substantive ownership of the digital assets. This case is seen as a landmark in Korea's cryptocurrency tax practices, directly addressing the challenges of asset ownership determination for cold wallet assets and the tax characterization of inter-account transfers.

Korean Tax Tribunal: Reinvestigation Required for Gift Tax on Bitcoin Transferred via Spouse's Account

On June 24, the semiconductor and AI independent research institution SemiAnalysis reported that China's largest DRAM manufacturer, Changxin Memory Technologies (CXMT), is advancing towards an IPO on the Science and Technology Innovation Board, which is expected to become one of the largest semiconductor IPOs in China in recent years. The company is projected to achieve a 156% year-on-year revenue growth to approximately $8.6 billion by 2025, and for the first time, it is expected to realize a net profit of around $1 billion. In the first quarter of 2026, revenue is anticipated to further rise to $7.3 billion, marking a year-on-year increase of about 700%. As DRAM prices enter a historic upcycle, CXMT is rapidly narrowing the gap with the three global storage giants. The rise of CXMT can be attributed to three key factors: inheriting the technological assets and patent system of the now-defunct German memory manufacturer Qimonda; attracting a large number of experienced engineers from Micron, Samsung, and the European memory industry; and receiving long-term capital support from the government along with a local industrial supply chain. After nearly a decade of continuous investment, the company has become the fourth largest DRAM manufacturer globally and is gradually establishing its own R&D capabilities. Looking ahead, CXMT is expected to continue expanding its production capacity from 2026 to 2028, with its global DRAM market share projected to increase from 9% in 2025 to 12% in 2027. However, the current profit growth of the company is mainly driven by the surge in DRAM prices rather than a technological advantage. Meanwhile, HBM (High Bandwidth Memory) still faces challenges in yield and capacity, but as the Chinese AI industry rapidly grows its demand for domestic computing power and storage, CXMT may play a more significant strategic role in the future.

[SemiAnalysis: CXMT Rapidly Closing Gap with Global Giants, Poised for Strategic Role]On June 24, the semiconductor and AI independent research institution SemiAnalysis reported that China's largest DRAM manufacturer, Changxin Memory Technologies (CXMT), is advancing towards an IPO on the Science and Technology Innovation Board, which is expected to become one of the largest semiconductor IPOs in China in recent years. The company is projected to achieve a 156% year-on-year revenue growth to approximately $8.6 billion by 2025, and for the first time, it is expected to realize a net profit of around $1 billion. In the first quarter of 2026, revenue is anticipated to further rise to $7.3 billion, marking a year-on-year increase of about 700%. As DRAM prices enter a historic upcycle, CXMT is rapidly narrowing the gap with the three global storage giants. The rise of CXMT can be attributed to three key factors: inheriting the technological assets and patent system of the now-defunct German memory manufacturer Qimonda; attracting a large number of experienced engineers from Micron, Samsung, and the European memory industry; and receiving long-term capital support from the government along with a local industrial supply chain. After nearly a decade of continuous investment, the company has become the fourth largest DRAM manufacturer globally and is gradually establishing its own R&D capabilities. Looking ahead, CXMT is expected to continue expanding its production capacity from 2026 to 2028, with its global DRAM market share projected to increase from 9% in 2025 to 12% in 2027. However, the current profit growth of the company is mainly driven by the surge in DRAM prices rather than a technological advantage. Meanwhile, HBM (High Bandwidth Memory) still faces challenges in yield and capacity, but as the Chinese AI industry rapidly grows its demand for domestic computing power and storage, CXMT may play a more significant strategic role in the future.

SemiAnalysis: CXMT Rapidly Closing Gap with Global Giants, Poised for Strategic Role

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Bank of America Raises Intel (INTC.US) Price Target from $135 to $160

SemiAnalysis: CXMT Rapidly Closing Gap with Global Giants, Poised for Strategic Role

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