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Svmuu News: According to The Wall Street Journal, sources revealed that SpaceX (SPCX.O) has developed a prototype device resembling a smartphone, designed to transform the way people interact with artificial intelligence. SpaceX demonstrated the prototype to select investors ahead of its IPO. Musk subsequently denied the report. (Jin Shi)

Svmuu News: Citrini analyst jukan posted on X, stating that according to supply chain sources, it is virtually confirmed that MediaTek has secured a second ASIC client in addition to Google. Barring any unforeseen circumstances, this client is expected to be Meta, as previously rumored. As is customary, MediaTek does not publicly comment on individual products, client information, or market rumors. Qualcomm currently appears to hold key major clients such as Meta, Microsoft, and ByteDance, but industry observers believe that MediaTek, by continuing to deepen its collaboration with Google and having the opportunity to secure a second client, is not at a disadvantage. Semiconductor supply chain sources say that, judging by the order outlook and generational transition pace of major cloud service providers for AI data centers and ASIC products, Google remains the major client with the strongest momentum and most proactive stance. MediaTek not only has two products codenamed “Zebrafish” and “Humufish,” but according to market intelligence and industry insiders familiar with ASICs, its participation in the v9-generation “Triggerfish” is virtually confirmed. This means that from late 2026 through 2028—and potentially extending into 2029—MediaTek can expect a steady revenue contribution from TPU mass production. Compared to Qualcomm’s 2029 cloud AI revenue target of $15 billion, it is only a matter of time before MediaTek—which holds multiple TPU ASIC orders—reaches the $10 billion level. The industry is also watching to see if MediaTek can successfully secure a second major cloud service provider as a key client. Based on earlier market reports and recent supply chain confirmations, MediaTek is still actively collaborating with Meta on ASIC products, with the partnership likely centered on AI acceleration chips. Meta has recently entered into partnerships with both Arm and Qualcomm, but these collaborations are focused on CPUs; there is still no concrete news regarding cooperation on in-house AI acceleration chips. Sources in the IC design industry note that Meta’s recent cloud AI development strategy has indeed been somewhat chaotic and unclear, with internal chip development plans undergoing repeated adjustments. In the CPU sector alone, the company has sought multiple partners and adopted various approaches. Regarding AI acceleration chips, although Meta has previously officially announced a partnership with Broadcom, supply chain sources indicate that this has not interrupted the ongoing collaboration between MediaTek and Meta. IC design industry sources also emphasized that MediaTek’s and Qualcomm’s cloud AI development roadmaps remain distinctly different: MediaTek is concentrating all its resources on its ASIC business, while Qualcomm plans to pursue both customization and standardization simultaneously, covering both AI accelerator chips and CPU products.

Svmuu News: Major South Korean banks are expanding their foreign exchange trading teams and strengthening their presence in Seoul and London in preparation for the upcoming launch of the near-24-hour won foreign exchange market. Woori Bank has assigned eight additional staff members to its London office, covering positions in foreign exchange, derivatives, and bond trading. Hana Bank has added traders in Seoul and implemented a three-shift rotation system to ensure round-the-clock coverage. Shinhan Bank and KB Kookmin Bank are also expanding their staff and upgrading their systems. The won’s near-24-hour foreign exchange trading system is set to launch on July 6.

Svmuu News: Ansgar Dietrichs, a former Ethereum Foundation researcher and member of Ethlabs, stated on Laura Shin’s “Unchained” podcast that ETH still lacks a clear value narrative after failing to break through the $5,000 mark for five years.Ethlabs was founded on June 22 by five former Ethereum Foundation researchers and is backed by Bitmine, Sharplink, and ConsenSys founder Joe Lubin.
On-chain analytics firm Cryptoquant reported that over 32% of the ETH supply—approximately 39.5 million ETH—is currently staked, while exchange balances continue to decline.The company also noted that Ethereum’s daily active addresses and smart contract activity have reached record highs, yet the price of ETH has fallen by more than 50% from its peak this cycle.

Svmuu News: BitcoinTreasuries.NET posted on X, citing Bloomberg, that due to Bitcoin’s decline, investors are no longer willing to pay the high premiums they once did for Strategy MSTR. The premium on Strategy MSTR relative to its holdings, which had reached 200%, has now fallen below 1, indicating that the trade is unraveling.

Svmuu News: Bitcoin News posted on X stating that the paper titled “A Mechanistic Derivation of the Bitcoin Price Power Law: Network Adoption Dynamics and Generalized Metcalfe Scaling,” authored by @Giovann35084111 and @moneyordebt, has been officially published in Elsevier’s *Nonlinear Science*. The paper argues that Bitcoin’s long-term price power law can be derived from network adoption dynamics and generalized Metcalfe scaling, providing a theoretical foundation for one of Bitcoin’s most controversial valuation models.

Svmuu News: Bloomberg ETF analyst Eric Balchunas posted on X that the U.S. Treasury Department will use SPYM as the default fund for investments in the Trump Account, and that the inflow of U.S. government funds may expand in the coming years, with several other ETFs from the three major ETF issuers also becoming available as options.

Svmuu News: On July 1, 2026, STBL launched USST, an institutional-grade stablecoin on the Stellar network. The stablecoin is backed by real-world assets, with tokenized government bonds (USDY) serving as the initial minting collateral.
USST is built on STBL’s Stablecoin 2.0 infrastructure, which allows market participants to deposit eligible real-world assets—such as tokenized government bonds or money market funds—to mint USST, and supports settlement, collateral liquidity, and cross-border payments.
STBL plans to add Franklin Templeton’s BENJI as a second collateral option, but has not yet set a launch date for the BENJI collateral integration, nor has it disclosed the initial minting volume of USST on the Stellar network.

Svmuu News: SoftBank Group has resumed negotiations with a syndicate of lenders regarding a $10 billion loan secured by its stake in OpenAI. In response to lenders’ concerns about the difficulty of valuing privately held companies, SoftBank Group has proposed providing a guarantee for the loan repayment; if the value of the OpenAI shares used as collateral declines, the banks would be able to seek recourse from SoftBank Group. The lending syndicate is expected to include Goldman Sachs, JPMorgan Chase, and Mizuho Group.

Svmuu News: Erik Voorhees, founder of Venice AI, announced on Wednesday that the company has completed its first round of external funding, raising $65 million and reaching a valuation of $1 billion. The round was led by Dragonfly, with participation from North Island Ventures, Coinbase Ventures, Archetype, Liquid2 Ventures, and Morgan Creek.

Launched in May 2024, Venice AI is a privacy-focused alternative to AI chatbots, designed to avoid storing user conversations on centralized corporate servers. Voorhees stated that Venice AI has surpassed 3 million users and became profitable in the first quarter.

Voorhees said the new funding will be used to expand the Venice platform, which provides access to major open-source and proprietary AI models through a single interface and API.The annual supply of Venice AI’s native token, VVV, was reduced to 3 million on Wednesday to reward token holders who support the network by staking VVV.

Svmuu News: British investment advisor Farside Investors stated that Strategy’s STRC priority product poses structural risks related to its adjustable coupon and price stabilization mechanisms.The STRC is primarily issued at approximately $100, and the mechanism is designed to increase dividends when the price falls below $100 and decrease dividends when the price rises above $100, in order to guide the market price back to that level.
Farside Investors noted that if investor concerns about Strategy’s credit risk rise, the price of STRC could fall, and increasing dividends to prop up the price would add to cash pressure and further undermine investors’ certainty regarding the security’s valuation. STRC recently traded at around $75 before rebounding to $86.
Strategy has launched the Digital Credit Capital Framework, which includes plans to build a U.S. dollar reserve, raise the STRC dividend to 12%, repurchase senior securities at a discount, and authorize the sale of “Bitcoin” to help fund dividends and the reserve.