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Svmuu News: U.S. investment firm Bain Capital, through the sale of a majority stake in Japanese memory chip maker Kioxia, is expected to generate approximately 2.5 trillion yen (about 22 trillion won) in investment returns, setting one of the highest return records in Japan’s private equity (PE) sector.
With Bain Capital’s exit, Toshiba has once again become Kioxia’s largest shareholder, holding approximately 15%; SK Hynix has become the de facto second-largest shareholder through convertible bonds held by a special purpose company (SPC), representing approximately 14% of the shares. However, since SK Hynix has not yet converted the convertible bonds into shares, it currently does not hold formal shareholder voting rights; the conversion can only be completed after passing antitrust reviews in various countries.
SK Hynix previously invested approximately 395 billion yen in the relevant SPC in the form of convertible bonds and has committed not to hold more than 15% of Kioxia’s voting rights until 2028. The market is watching closely as, amid intensifying global competition in the memory chip sector, Kioxia’s complex equity structure and potential changes in SK Hynix’s shareholding are set to become key variables in Japan’s strategic semiconductor industry landscape. (Daum)

Svmuu News: In response to the successive closures of BitMEX and BitMart, crypto researcher Haotian posted on X, stating: “ Two exchanges have run into trouble one after another, and I see quite a few people gloating, thinking that some exchanges need to ‘blow up’ to fuel the next bull market. Well, while there are certainly some indicators pointing to a shift from bear to bull market, the logic behind this shakeout may be different from what most people think:
1) Amid the overall trend toward compliance, competition among CEXs is far more cutthroat than imagined. Licensing, proof of reserves, KYC/AML/KYT, segregation of client assets, and other compliance issues have become the prerequisites for an exchange’s survival.
This has significantly reduced the likelihood of CEX “collapses,” and the zero-sum game logic of the past—where “one whale’s fall spurs the rise of many”—has vanished entirely. Therefore, rather than being sudden collapses, these are proactive shutdowns in the face of immense competitive pressure—a result of healthy market competition;
2) CEX competition in the tokenization of U.S. stocks sector is, in fact, a strategic move by exchanges to actively expand their channel business. It also signals that the traditional platform business model—which relied primarily on listing fees and trading commissions—is no longer viable. Instead, the introduction of tokenized U.S. stocks, ETFs, pre-IPO assets—requires the urgent development of entirely new revenue streams and growth opportunities.
However, the replacement of crypto-native assets by traditional TradFi assets inherently means that CEXs are losing their pricing and settlement power. While relying on Perps may seem to sustain trading volume and revenue in the short term, in the long run, the “cost” of the pricing hub being reduced to a mere channel and gateway will inevitably have to be faced; Therefore, the fiercer the competition in tokenized U.S. stocks becomes, the greater the survival pressure on CEXs. As you can see, those unqualified to compete are essentially doomed;
3) Right now, CEXs—especially small and medium-sized exchanges—must find a unique positioning to survive. Just as small exchanges in the previous cycle relied on IEOs and other high-quality on-chain assets to attract traffic and users, there now seems to be only one viable path: either focus deeply on regional licenses and localized services, exploit regulatory loopholes, focus on a specific product niche—such as TradFi assets, Perps, or RWAFi—or fully embrace crypto-native innovation narratives, including DeFi, the Agentic Economy, and MEMEs, to weather the cycle by leveraging the power of crypto-native communities. Either way, continuing with homogenized cutthroat competition will only accelerate the wave of eliminations—though, that said, weeding out some of the less competitive players isn’t necessarily a bad thing.”

According to PPP’s prediction market tracking, the probability of the 76ers winning the 2027 NBA Championship on Polymarket has risen to 14%, up 7% from the previous week; the Thunder’s probability of winning the 2027 NBA Championship is currently reported at 22%, while the San Antonio Spurs’ odds stand at 20%.
NBA superstar LeBron James made a major decision this week regarding his 24th professional season, officially parting ways with the Los Angeles Lakers to join the Philadelphia 76ers on a veteran minimum contract, and is expected to form a star-studded starting lineup next season featuring Maxey, Echikum, Brown, James, and Embiid. Pennsylvania Governor Josh Shapiro has announced that July 24, 2026, will be designated as “LeBron James Day” to celebrate his arrival.
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Svmuu News: KB Kookmin Bank announced that it will launch a cross-border corporate payment service in August based on Kinexys, the blockchain payment network operated byJPMorgan Chase. This makes it the first financial institution in South Korea to apply this network to settlements for import and export companies.It is reported that the service will initially support U.S. dollar (USD) remittances, covering 10 countries including the United States, Saudi Arabia, Qatar, and the United Arab Emirates, and is expected to reduce payment processing times across time zones to regions such as the United States and the Middle East. (Dailyenews)

Svmuu News: Huang Renxun posted his first tweet on X (formerly Twitter), attaching a joint open letter titled “Open Weights and U.S. Leadership in AI.” However, as of now, the three major closed-source cutting-edge AI labs in the U.S.—OpenAI,Anthropic, and Google have not signed the joint open letter. The more than 20 companies that have co-signed include NVIDIA, Meta, Microsoft, Palantir, CrowdStrike, IBM, ServiceNow, Hugging Face, Mistral AI, a16z, Y Combinator, and Perplexity, among others.
According to reports, the open letter argues that “AI distillation” technology should not be restricted and states that the standard for measuring U.S. leadership in AI is not the power of a single cutting-edge model, but rather the ability to build a robust and open ecosystem that permeates all industries. Open weighted models are the cornerstone of this ecosystem.

Svmuu News: The NFT platform Forma has announced that it will cease operations of the Forma blockchain, stating that continuing to maintain the network is no longer sustainable.Forma stated that it will migrate the Modularium platform and Forma NFTs to the Ethereum mainnet to ensure the long-term preservation of related works and trading markets. Once the migration is complete, users’ NFTs will remain accessible and tradable on Ethereum ecosystem marketplaces such as OpenSea, and Modularium will continue to operate as a showcase platform for these NFT collections.Forma also urges users to withdraw their on-chain funds via the Forma Bridge as soon as possible. Any unwithdrawn assets will be manually migrated by the team to a new EVM-compatible chain at a later date. The team emphasizes that both user funds and NFT assets are secure and will announce a specific migration timeline and process in the near future.

Svmuu News: Nenter Chow, Global CEO of BitMart, posted on X stating that he was informed on July 24 that his position as Global CEO would be terminated and that he would immediately begin the resignation process.
Nenter Chow stated that, as of July 24, he has no longer been involved in BitMart’s management or decision-making, nor has he participated in any discussions or decisions regarding the suspension of the trading platform’s operations. He noted that he only learned of this decision after BitMart’s official announcement was made public.
Nenter Chow said his top priority at present is the security of BitMart users’ assets and the placement of employees, and he reminded users to refer only to BitMart’s official channels when handling account-related matters.

Svmuu News: Bruce, the founder of MSX.COM, posted on X, stating, “ If I were to acquire Bitmart, the first thing I’d do is complete the transfer of ownership, and the second would be to make everything free—reducing all spot and futures trading fees to 0. I think crypto exchange fees are too high; didn’t Robinhood do something like that back in the day?”
Previously, Bitmart announced it would cease operations and halt all trading services on August 26. MSX.COM founder Bruce subsequently posted expressing his intention to acquire the exchange.

Svmuu News: Following the announcement of Bitmart’s shutdown, DI (@Start16Start)—a former Bitmart employee and current WEEX employee—posted on X, stating: “As someone who was once on the inside, I’m not surprised to see Bitmart shut down. From using unattainable KPIs for employees in the CIS region to cut our salaries, to the chaotic internal culture throughout the company. They constantly deceived employees, traders, and KOLs, refusing to pay the salaries and bonuses they were owed, and instead chose to build an unsustainable system. This endless deception is precisely why I chose to leave and why I urged my key partners to stay as far away from that mess as possible.
This week, I attended a conference in Hong Kong and was listening to their CEO speak. Right up until the very last moment, they were still trying to squeeze every last penny out of people before shutting down all operations. What a disgrace!”