Citigroup Research stated in its US Economic Weekly report released on July 2nd that non farm payroll employment in the United States increased by 57000 in June, with a total downward revision of 74000 in the first two months. The average monthly non farm payroll growth in the past three months has dropped to about 111000, lower than the level of 180000 before the revision, and the reason for interest rate hikes has disappeared. Citigroup expects the Federal Reserve to cut interest rates by 25 basis points for the first time at its meeting on October 28, and another 25 basis points in December, bringing the federal funds rate range to 3.0% to 3.25% by the end of the year. AI interpretation: The significant slowdown in non farm employment growth and the significant downward revision of the previous value directly reveal the intensification of the supply-demand imbalance in the labor market. The decline in employment momentum has completely blocked the space for further interest rate hikes by the Federal Reserve. This data reinforces the reality of economic cooling, forcing the focus of monetary policy to shift from anti inflation to anti recession. The market has solid macro fundamental support for early pricing at the time of interest rate cuts.

Garrett Jin's analysis indicates that funds in the AI industry chain are flowing from storage chips to core cloud computing giants such as Google, Microsoft, and Amazon. Micron's stock price fell back after encountering resistance at around $1250, while SK Hynix and Samsung Electronics weakened. In the past two months, foreign investment has withdrawn more than $65 billion from the South Korean stock market.

[Myanmar Scam Parks Utilize AI and Cryptocurrency, Starlink Provides Network Support] According to Red Star News, scam parks in Myanmar are using OpenAI's ChatGPT and Google's Gemini to generate scripts and perform identity disguises, facilitating fund transfers through cryptocurrency. Starlink has become the primary network service provider for these parks, with U.S. ISP providers handling nearly one-fifth of the parks' traffic. OpenAI stated that its risk control system blocks approximately 100,000 suspicious accounts per month, while Google reported that its AI models have implemented safety measures to restrict illegal use.

Some of the many battles with state gaming regulators aren't going well for the industry at the moment, but it isn't without its would-be government protectors.

According to on chain analyst Yu Jin's monitoring, the Ethereum Foundation has distributed 2469 stETH worth $4.34 million to Argot for its fourth year of funding. Last July, the Ethereum Foundation provided 7000 ETH grants to Argot, and Argot sold 4826.6 ETH at an average price of $3194, exchanging it for 15.417 million USDC. In July next year, the Ethereum Foundation will distribute 2469 stETH as its fifth year funding to Argot.