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According to Odaily, the decentralized privacy protocol Hinkal Protocol has announced that it has detected abnormal activity involving USDC on the Ethereum network within its system. Currently, this issue only affects the Ethereum blockchain, while other chains remain unaffected. As a precautionary measure, the affected smart contracts have been paused, and a comprehensive investigation and analysis of related on-chain transactions and activities is underway. The investigation is still ongoing, and further updates will be provided once the information has been verified. Earlier reports stated that suspicious USDC transactions on Hinkal led to a loss of 800 thousand US dollars.

BlockBeats News, July 3rd. According to JPMorgan's report "Fund Flows and Liquidity: The Demand for AI Rotation," since September last year, semiconductor stocks, namely AI chip and storage manufacturers, have continued to outperform and maintain a significant lead over hyperscale cloud service providers. This performance gap, in the long run, appears somewhat unsustainable. The report suggests that due to semiconductors being inherently part of a broader AI trade, the current differentiation has raised concerns in the market about its sustainability. JPMorgan stated that this gap could narrow in two ways. The optimistic scenario is that as hyperscale cloud service providers, AI model providers, and users improve in commercialization, revenue, and profitability, their performance begins to catch up and gain a larger share in overall AI value-added. The pessimistic scenario is that if semiconductors continue to outperform at the expense of pressure on clients such as hyperscale cloud service providers, AI model providers, or end-users, it may dampen their willingness to spend capital and eventually create resistance to semiconductor product demand. The report points out that JPMorgan's internal view leans more towards the optimistic scenario. However, analysts' consensus expectations indicate that the capital expenditure growth rate of hyperscale cloud service providers will significantly slow down starting from next year, which, if this expectation holds, aligns more with the pessimistic scenario. The report states that the capital expenditure growth rate of hyperscale cloud service providers is expected to reach 100% in 2026, but could drop to 22% in 2027 and further decline to 7% in 2028. If this deceleration path is confirmed, semiconductor trades may face considerable pressure, leading to a more significant and sustained correction in AI trades in the stock and bond markets. JPMorgan also mentioned that the future AI computing power price will be key to whether hyperscale cloud service providers can commercialize AI capital expenditure. The higher the computing power price, the more capable cloud service providers are of maintaining or increasing profit margins. Additionally, the report stated that the U.S. money supply is expected to rise from $16 trillion in 2025 to $18 trillion in 2026, providing support for U.S. financial assets, especially U.S. stocks.

Foresight News reports that blockchain game Axie Infinity tweeted it will migrate Land Item to a new smart contract supporting REP-15, preparing for its integration with Terrariums. During the migration, Land Item will remain ERC-721 standard, listed items will be delisted, active items will be locked throughout the migration process, and after migration is complete, items of the same ID will be minted in equal quantities and returned to users' wallets. The migration will start on July 7th at 15:00 (UTC+8) and will continue until completion. During this period, all Land Item-related transactions will be suspended, and will resume normal trading and usage once the migration is done. Users do not need to take any action, and a further announcement will be made after completion.