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Larry Fink, CEO of the world's largest asset management company BlackRock, stated that he is optimistic about the market in the next 12 months, as the technological revolution will drive improvements in the profit margins of more companies. He noted that BlackRock's profit margin has increased by 260 basis points over the past 12 months, and the company has added $1 trillion in assets without increasing its workforce.Larry Fink mentioned that the current market leverage levels are lower than those in 2008 and 2009, and the implied leverage is not high when measured against the current capital market size. He also indicated that certain assets, financial products, or international markets may still carry concentration risks. Larry Fink expressed that he had previously been concerned about leverage in the Bitcoin and cryptocurrency markets, as there had been too many leveraged participants in the market. He believes that after the leverage has been cleared, Bitcoin and the cryptocurrency market are more stable at current levels.

According to Hürriyet Daily News, Turkish prosecutors have filed charges against a massive money laundering network involving the "Grand Bazaar," with the amount in question nearing 40 billion Turkish lira (approximately 850 million USD). The indictment lists 504 suspects who are accused of using shell companies, bank accounts, currency exchange offices, POS terminals, and cryptocurrency transactions to conceal illegal proceeds. The suspects are also accused of converting the illicit funds into cryptocurrency and transferring them abroad, as well as luring victims into fraudulent investment schemes with promises of high returns. Prosecutors are seeking a maximum sentence of 34.5 years in prison for the alleged mastermind Türker Ak and a maximum of 31 years for the alleged network manager Murat Dönmezoğlu.

According to Jinshi reports, the tensions between the U.S. and Iran escalated sharply this week, with mutual attacks leading to the collapse of a fragile ceasefire agreement that had lasted for about three weeks. The inflationary pressure driven by rising oil prices has reignited expectations for the Federal Reserve to tighten its policies. During the same period, U.S. stocks largely ignored geopolitical uncertainties, with the "AI trading" frenzy regaining momentum, as the S&P 500 index approached an all-time high, and both it and the Nasdaq recorded a consecutive weekly gain. SK Hynix's ADR surged 13% on its first day, with a fundraising amount of $26.5 billion, making it the highest fundraising foreign company IPO in U.S. stock market history.In the coming week, the U.S.-Iran situation, U.S. CPI and other economic data, and speeches from Federal Reserve officials will capture Wall Street's attention. There is particular anticipation for whether Federal Reserve Chairman Waller can provide more clues about the interest rate outlook under questioning in Congress, although his determination to cancel forward guidance leaves little room for optimism. The macro data events for next week are as follows:MondayFederal Reserve Governor Waller speaksTuesdayU.S. ADP employment change for the week ending June 27U.S. June CPI and core CPIFederal Reserve Chairman Waller attends the House Financial Services Committee "Federal Reserve Semiannual Monetary Policy Report" hearingWednesday2027 FOMC voter and Chicago Fed President Goolsbee participates in a fireside chatU.S. June PPI and core PPIFOMC permanent voter and New York Fed President Williams speaksFederal Reserve Chairman Waller attends the Senate Banking, Housing, and Urban Affairs Committee "Federal Reserve Semiannual Monetary Policy Report" hearingFederal Reserve releases the Beige Book on economic conditionsThursdayU.S. initial jobless claims for the week ending July 11, U.S. June retail sales month-on-month, U.S. July Philadelphia Fed manufacturing index2026 FOMC voter and Dallas Fed President Logan speaksFederal Reserve Vice Chairman Jefferson speaks on the economy and monetary policy

According to Decrypt, the U.S. Department of Justice announced that Rossen Iossifov, the founder of the Bulgarian cryptocurrency exchange RG Coins, has been indicted for allegedly transferring approximately $290,000 in cryptocurrency assets that had been ordered to be forfeited by the court during his imprisonment.Prosecutors stated that in January 2024, while serving his sentence in federal prison, he conspired to transfer the assets involved through multiple cryptocurrency exchanges and mixing services to evade government seizure.Iossifov was previously sentenced to 111 months in prison in 2021 for participating in money laundering of nearly $5 million and assisting a Romanian cyber fraud gang in handling the proceeds, and he was ordered to pay restitution of over $2.6 million and forfeit related cryptocurrency assets. If the new charges are upheld, he could face an additional 25 years in prison.

According to Protos, prosecutors in Wisconsin and New York have expressed dissatisfaction with the stablecoin issuer Circle, citing that Circle has repeatedly hindered law enforcement's attempts to recover stolen funds. Law enforcement agencies in various locations have sought Circle's cooperation to help victims of fraud and hacking incidents recover losses by destroying and reissuing USDC tokens, but Circle has refused these requests based on policy positions.Circle believes that modifying the blockchain ledger to reverse transactions would undermine the fundamental attributes of the USDC stablecoin and set a dangerous precedent for the entire cryptocurrency industry. This position highlights the deep-seated conflict between the immutability of blockchain and law enforcement needs. Prosecutors argue that Circle, as a regulated stablecoin issuer, should bear more social responsibility, while Circle insists on upholding the core principles of blockchain technology, making it difficult for both sides to bridge their differences on this issue in the short term.

According to a report by the International Consortium of Investigative Journalists (ICIJ), the stablecoin issuer Circle has been criminally charged by the Wisconsin state prosecutor for refusing to comply with a court order to assist in recovering funds for fraud victims.A victim in Wisconsin was defrauded of approximately 381,000 USDC, and the court issued a warrant last December requiring Circle to transfer frozen assets to law enforcement wallets, but Circle refused to comply, citing "technical inability to destroy and reissue tokens."The New York state prosecutor had previously sent a letter to the U.S. Senate, accusing Circle of repeatedly refusing asset freeze requests without a warrant and questioning its motives—Circle currently holds at least 119 million frozen USDC, which can continuously earn interest.In response, Circle denied the allegations, stating that the Wisconsin court lacks jurisdiction, and indicated that it has reached a preliminary agreement with federal prosecutors regarding a compensation mechanism for victims. Cryptocurrency tracking experts pointed out that Circle could fully implement token destruction and reissuance by updating its code, casting doubt on its claim of technical incapacity.

According to the official report, the Dutch Public Prosecution Service (OM) has applied to the Rotterdam court to declare the cryptocurrency trading platform Knaken Cryptohandel B.V. and its subsidiary Stichting Knaken Payments bankrupt.OM stated that the Dutch Authority for the Financial Markets (AFM) had previously warned that the platform was illegally providing exchange and custody services for crypto assets without the necessary licenses. Although the platform claims to have ceased operations and is undergoing liquidation, it has currently completely stopped making payments to customers. OM is concerned that its liquidation process lacks order and may harm investors' interests, thus applying for bankruptcy, aiming to appoint a liquidator to take over and safeguard creditors' funds.In addition, based on the report from AFM, the Dutch Financial Intelligence and Investigation Service (FIOD) has launched a parallel investigation into the alleged criminal activities of the platform. Law enforcement executed multiple searches on June 29, seizing relevant digital storage devices and freezing some of the company's assets, with no arrests made so far.

According to Decrypt, the Dutch Public Prosecution Service has applied to the Rotterdam court to declare the cryptocurrency platform Knaken and its affiliated payment institution Stichting Knaken Payments bankrupt, stating that this move is in the "public interest."Knaken has ceased operations since early June, leaving approximately 30,000 users unable to withdraw funds from the platform. The prosecution stated that the platform did not obtain the license required by the EU's Markets in Crypto-Assets Regulation (MiCA) from the Dutch Authority for the Financial Markets (AFM), and the liquidation process lacks orderly management, having stopped payments to customers and allegedly advised users not to file compensation claims.Meanwhile, the Dutch Financial Intelligence and Investigation Service (FIOD) has launched a criminal investigation and searched relevant locations on Monday, seizing laptops, mobile phones, and some company assets, with no arrests made so far. If the court approves the bankruptcy application, the court-appointed bankruptcy administrator will take over the company's assets and be responsible for determining the repayment arrangements for customers and other creditors.

According to Jiemian News, on June 30, SK Hynix officially submitted its F-1 prospectus to the U.S. Securities and Exchange Commission (SEC), initiating its initial public offering (IPO) process in the United States.It is reported that SK Hynix plans to issue American Depositary Shares (ADS) and apply for listing on the Nasdaq Global Select Market, with the stock trading code "SKHY". The prospectus shows that the specific issuance scale, issuance price, and the ratio of ADS to common stock have not yet been disclosed, and the relevant core terms will be determined based on the stock price of the Korean KOSPI market and the overall market environment. After completing the listing in the U.S., SK Hynix will continue to maintain its listing status in the Korean market.

According to Techfundingnews, the medical AI startup Prosper AI announced the completion of a $30 million Series A funding round, led by Andreessen Horowitz (a16z), with participation from Base10 Partners, Emergence Capital, Y Combinator, and others. After this round of financing, the company has raised a total of approximately $36.6 million.Prosper AI focuses on covering the entire patient visit process through AI voice agents, including appointment scheduling, insurance verification, communication with insurance companies, and billing processing. It has currently served over 150,000 medical institutions. The company stated that the U.S. healthcare system wastes over $450 billion annually due to administrative processes, and its AI system can handle key processes from appointment to payment on a single platform, reducing the costs for medical institutions associated with switching between different systems.It was reported that Prosper AI's revenue has grown approximately five times since the last funding round in September of last year, and it has established partnerships with large healthcare IT platforms such as Athenahealth and ImagineSoftware. Investor a16z noted that healthcare institutions are shifting from "point automation tools" to "end-to-end process automation," and Prosper's goal is to eliminate all administrative friction between patient care and payment.

According to CryptoSlate, the Independent Community Bankers of America (ICBA) sent a letter to the Federal Reserve Bank of Kansas City, requesting a reassessment of Kraken Financial's compliance before the renewal of its one-year limited-purpose account, and to consider additional measures such as restrictions, suspension, non-renewal, or termination.

The WeChat public account of the Chinese prosecutor published an article titled "Research on Foreign-Related Cases | Key Points for Cross-Border Electronic Evidence Collection in Virtual Currency Money Laundering Crimes," which pointed out that when handling virtual currency money laundering cases, one should use the virtual currency wallet address as a breakthrough point, apply blockchain technology to analyze on-chain data characteristics and the flow of funds, and identify money laundering activities conducted through virtual currencies to achieve precise strikes.The article proposed that the evidence collection model should be built around two core proof elements: identity relevance and transaction relevance, establishing a "domestic evidence collection as the basis, cross-border evidence collection as a supplement" approach, and standardizing the applicable boundaries of unilateral evidence collection and bilateral judicial assistance to enhance the efficiency of cross-border evidence collection.For third-party entities such as exchanges, wallet service providers, and payment channels, the article suggested establishing "elemental" retrieval standards, focusing on obtaining KYC information and change records, login logs, device and IP information, two-factor authentication records, deposit and withdrawal records, on-chain addresses, transaction hashes, as well as risk control and freezing records, to establish the relationship of "address---account---natural person."

According to Jinshi reports, the minutes of the Bank of Japan meeting show that some members indicated that if the inflation risks far exceed the downside risks to economic growth, the Bank of Japan may discuss the pros and cons of raising interest rates.

Coinbase announced an investment in ProShares' GENIUS Money Market ETF (ticker IQMM) to advance stablecoin cash management. This product is one of the first money market ETFs designed under the GENIUS Act that can be used for stablecoin reserves. IQMM primarily holds U.S. Treasury securities and cash equivalents with maturities of no more than 93 days, aiming to meet the reserve requirements of Article 4 of the GENIUS Act regarding "high-quality, high-liquidity assets backed 1:1."

According to Cointelegraph, Federal Reserve Governor Christopher Waller and Bank of England policymaker Megan Greene expressed starkly different views on the prospects of stablecoins at the Dubrovnik Economic Conference. Waller stated that the growth in the use of dollar-backed stablecoins could enhance the global influence of U.S. monetary policy, describing stablecoins merely as payment tools, "neither evil nor dangerous," and only bringing competition to the payment sector.Greene, on the other hand, held an opposing view, believing that tokenized deposits could replace stablecoins within a few years, stating, "In five years, we might wonder why we were talking about stablecoins." Greene compared central bank digital currencies to "turtles," stablecoins to "rabbits," and tokenized deposits to "rhinos," predicting that the rhino would ultimately prevail.

Well-known investor Duan Yongping recently expressed his continued optimism about Pop Mart's future overseas growth potential during discussions with investors. He believes that Pop Mart has high requirements for store location selection, and since quality commercial location resources are scarce, the construction of a global store network will take a long time. With the advancement of the internationalization strategy, the company still has significant store expansion space in overseas markets over the next 5 to 10 years.Recently, Duan Yongping's increased stake in Pop Mart through H&H International Investment has attracted market attention. Public information shows that on May 25, he purchased approximately 9.8232 million shares at about HKD 150 per share, raising his shareholding ratio to 5.69%, making him the company's second-largest shareholder, with a holding market value exceeding HKD 11.7 billion.Driven by market sentiment, Pop Mart's stock price has continued to strengthen recently. Data shows that the company's stock price rose by 8.98% yesterday, and based on the size of his holdings, Duan Yongping's paper profit for the day was nearly HKD 1 billion.It is noteworthy that Duan Yongping's investment attitude towards Pop Mart has undergone a significant change. He had previously publicly stated that he "did not understand" the related business, but as the company's business model gradually matures, he has begun to significantly increase his holdings and is optimistic about the company's long-term development.After becoming the second-largest shareholder, Duan Yongping publicly praised Pop Mart's founder Wang Ning, believing that he has reached a very high level in understanding products and grasping user needs, and stated that he has become a supporter of Wang Ning. He also pointed out that Pop Mart has validated the sustainability of its business model and established strong competitive barriers, possessing long-term investment value.Public information shows that Duan Yongping has further increased his allocation ratio to Pop Mart this year and adjusted some of his holdings in traditional energy sectors to this company, expressing his optimism about its long-term growth prospects.

According to CNBC, SpaceX officially submitted its IPO prospectus last week, but its CEO Musk recently posted on social media, revealing significant discrepancies between the details of the company's agreement with Anthropic for computing power rental and the content of the prospectus.The prospectus shows that the cooperation between the two parties will last until 2029, with a monthly rent of $125 million; however, Musk stated that the agreement is only a short-term lease of 180 days, and both parties can terminate the cooperation with 90 days' notice.This discrepancy makes it difficult for investors to assess the company's valuation, and industry experts have raised questions about the regulatory compliance of the information disclosure. Additionally, analysts pointed out that the prospectus is missing several key data points.SpaceX is expected to go public on June 12, with the company's valuation currently exceeding $1 trillion, and it continues to operate at a loss.

France's top market regulator warns cryptocurrency companies that if they do not obtain an EU operating license by the end of June, they may be blacklisted and prosecuted.According to the EU cryptocurrency regulation (MiCA), cryptocurrency companies must obtain a license by June 30 to continue operating in the EU. European regulators have previously warned that unlicensed companies need to develop an "orderly exit plan."