BBX News: Last weekend, global listed companies released the most polarized ledger reality in asset allocation between encryption and AI computing power assets. There is no excess macro sentiment, and the market is forcefully delineating the watershed between winners and losers through massive cash flow contracts and cold secondary market breakout data ——Discounted computing power and energy: TeraWulf Inc. (NASDAQ: $WULF) has successfully transformed the "high energy consumption of mining enterprises" into an "AI deterministic leasing model" through a 401MW power infrastructure deadlock Anthropic long-term contract. ——Crypto IPO squeezed foam: BitGo (NYSE: $BTGO) and Bullish (NYSE: $BLSH) fell precipitously, tearing apart the underpants of Crypto Unicorn that lacked liquidity support in the downturn market. Kraken's parent company has suspended its promotion, and the three major giants have postponed their listing, marking that the compliant financing channel for the transition from the primary market to the secondary market in cryptocurrency has entered a frozen period. The market shows a clear dual evolution trend of "high barrier computing power asset premium explosion" and "traditional encryption native IPO target foam accelerated clearing". Source: bbx.com

The scale of tokenized assets on the BlackRock chain reached $2.93 billion, with Ethereum accounting for $1.1 billion, and the remaining assets distributed across Avalanche, Solana, and BNB Chain. （Cointelegraph）

The People's Bank of China launched a 7-day reverse repurchase operation worth 224 billion yuan today, with a bid volume of 224 billion yuan and a median amount of 224 billion yuan, and an operating interest rate of 1.40%.

[Qian Zhiming's 60,000 Bitcoin Case Completes Hearing, Substantive Trial Expected After October This Year] According to Caixin, the hearing for Qian Zhiming's 60,000 Bitcoin case was held from July 7 to July 9, 2026. The case is expected to enter the evidence and substantive trial phase after October this year. The court will focus on the flow of RMB investment funds, the paths of fund transfers and exchanges, the connection between the funds and the Bitcoin seized in the UK, the losses and compensation of various applicants, and the property relationship between individual investors, Lantian Gerui Company, and the Bitcoin involved in the case.

JPMorgan Chase has raised its target price for Zhipu (02513. HK) from HKD 2000 to HKD 2400, after previously raising it from HKD 1800 to HKD 2000 last Tuesday. Morgan Stanley analyst Olivia Xu pointed out that the funds from Zhipu's $400000 stock placement will alleviate the bottleneck of computing power supply. JPMorgan Chase has also lowered the target price of MiniMax (00100. HK) from HKD 300 to HKD 240 due to the equity dilution effect caused by the placement.