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Today · 2026-08-20 · Thu

The United States' top five investment banks are expected to record a four-and-a-half-year increase in their fee revenue in the second quarter

According to Bloomberg, the five major investment banks in the United States are expected to generate $11.1 billion in business fees in the second quarter of 2026, a 27 per cent increase over the same period, up from 2021. SpaceX IPO contributed approximately $500 million in fees to 23 underwriting houses, of which Goldman Sachs and Morgan Stanley each earned about $100 million. In addition, the M&A transaction fees of the five major investment banks are expected to increase by about 30 per cent over the same period, exceeding $4 billion. Financial Times reports that the listing of large technology enterprises such as SpaceX, OpenAI and Anthropic has contributed to the growth of Wall Street's business。

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HIGH-LEVEL AIR TRADER: 21153.24 COPIES OF HYPE SPACE

HYPE, A HIGH-LEVEL AIR TRADER, HAD A REDUCTION OF 21,153.24 SPACE ORDERS, APPROXIMATELY US$ 2,016,606.37. THE CURRENT WAREHOUSE SIZE IS $24,719,129.46, WITH AN AVERAGE PRICE OF $54.08, WITH CURRENT GAINS AND LOSSES OF $4,376,680.43 (-88.53 PER CENT) AND CURRENT CURRENCY VALUE OF $65.71 AND LIQUIDATION VALUE OF $92.92. THE ADDRESS WAS PREVIOUSLY THE LARGEST SPACE AVAILABLE IN THE ENCRYPTION MARKET, WITH A RECENT PREFERENCE FOR A LIST OF HIGH PLACES IN THE UNITED STATES STOCK AREA, WITH A PROFIT OF OVER $48 MILLION FOR SIX MONTHS。

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Korea's stock market has suffered a major setback

OWING TO THE SITUATION IN THE MIDDLE EAST, THE KOREAN STOCK MARKET SUFFERED A MAJOR SETBACK, THE KOREAN EXCHANGE LAUNCHED A MELTING MECHANISM FOR THE KOSPI INDEX AND THE KOSPI INDEX COMPONENT STOCK TRADE WAS SUSPENDED FOR 20 MINUTES. AT 1.28 P.M. (UTC+8), THE KOREAN EXCHANGE TRIGGERED A MARKET-WIDE MELTING MECHANISM, AS THE KOSPI INDEX FELL BY MORE THAN 8 PER CENT OVER THE CLOSING PRICE ON THE PREVIOUS DAY. THIS IS THE SEVENTH TIME THE KOREAN EXCHANGE HAS LAUNCHED A MELTING MECHANISM THIS YEAR。

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SenseNova-Vision, commercial open source, complete visual upgrading

Business soup technology (00020.HK) has been officially launched and is fully open to new SenseNova-Vision, which is an important visual upgrade of the business soup day model system. The core change of Sensenova-Vision lies in the original ability to make vision a universal basic model, fully integrated into a large model system. All classic visual missions, such as target testing, image fragmentation, depth prediction, 3D reconstruction, etc., have achieved originality。

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Co-initiation of a large model security assessment benchmark

The National Research Centre for the Development of Industrial Information Security, building on the technical accumulated and practical experience in the field of large-scale model security assessment, has officially launched a joint initiative to establish a large model security assessment benchmark, and has now begun to call for co-consolidation units to develop a system of artificial intelligence security assessment covering the full dimensions. The benchmark builds a panoramic assessment framework around the security governance needs of the real application of the large model, covering content security, value alignment, robustness, fairness, privacy protection, and genuine and credible six core security dimensions, and forms a systematic whole-chain assessment system。

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Institution: Tuesday inflation data folded Gawash testimony, market closely followed direction signals

ON 13 JULY, INVESTORS WILL FOLLOW UP ON THE SEMI-ANNUAL TESTIMONY GIVEN TO CONGRESS ON TUESDAY AND WEDNESDAY BY THE NEW FEDERAL RESERVE CHAIRMAN, KEVIN WALSH, TO OBTAIN HIS LATEST VIEWS ON INFLATION AND INTEREST RATES, AS WELL AS AN UPDATE ON HIS PROGRESS IN REFORMING THE FEDERAL RESERVE. WALSH MAY HAVE BEEN ASKED BY MEMBERS OF CONGRESS ABOUT HIS EXTENSIVE FED REFORM PLAN. THE FED HAD PREVIOUSLY ANNOUNCED THE APPOINTMENT OF FIVE WORKING GROUPS ESTABLISHED BY WALSH TO ASSESS ALL MATTERS, FROM COMMUNICATION TO BALANCE SHEET SIZE. IAN LINGEN, HEAD OF THE US INTEREST RATE STRATEGY IN BMO CAPITAL MARKET, STATED THAT INVESTORS WOULD FOLLOW THE CASE OF WALSH TO OBTAIN FURTHER DETAILS AND GUIDANCE ON HOW THE PRESIDENT STRUCTURED THE OVERALL STATE OF THE US ECONOMY AND THE FED POLICY. MARKETS ARE NOW IN A LOW STATE OF TRADE AND CONFIDENCE. THIS WAS AT LEAST UNTIL TUESDAY'S INFLATION DATA AND WALSH'S TESTIMONY WERE PUBLISHED. KIM XIAN

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Coinbase premium recovery, showing improved demand from United States investors

According to CryptoQuant, the demand for bitcoin in the United States is showing signs of recovery, with the Coinbase premium having recovered from its negative depth at the beginning of June to 0.062, with the price of bitcoin rebounding from a low level. This recovery suggests that sales pressure on the United States exchange is decreasing and suggests that institutional demand may begin to stabilize。

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Tom Lee: The long-term target price for ETH is $250,000 and is entering ETH 2.0

On 13 July, in a speech delivered at WebX 2026 by the director of Bitmine, Tom Lee, who reiterated the “ETH or currency” view, compared to the “1.0 to 2.0” valuations of Amazon, Inverda and Morgan Chase, it was considered that the Taifah was entering the ETH 2.0 phase, with a long-term target price of $250,000, and that the drivers included the New Foundation era, Age-AI, Financial Settlement Level and ETH as currency. It considered the current market sentiment to be the cure for the “Value of Wealth Terror”. Tom Lee revealed that Bitmine has been a lead investor in support of two separate institutions of the Ether Fountain Foundation: EthLabs, created by the former contribution of the Taifung Foundation, and the independent not-for-profit Etheum Institute, focus on accelerating the “institutional super-cycle” of the Taifung and the promotion of large-scale institutional financial uplinks, respectively. Tom Lee states that Bitmine currently holds 5.74 million ETH (4.8 per cent of the supply of ETH) and that the targets for the future include slowing the pace, gradually increasing to 5 per cent of the supply of ETH, continuing to fund projects and “public goods” with the Taifung Foundation, and investing in financial services and encrypted unicorns, and strengthening the ecology of the Ethera。

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GPT-5.6 SOL is challenged for "mention." OpenAI claims that the reasoning budget adjustment is an experiment

OpenAI responded to GPT-5.6 SOL's question about “mentional” by arguing that the reason for the budget adjustment was simply an experiment. Users found that the internal reasoning budget for the GPT-5.6 SOL tranches fell significantly, from 960 to 128, and suspected that OpenAI had weakened the model in order to save money. Tibo Sottiaux, head of OpenAI Codex, stated that the team had adjusted the reasoning to check the reasons for the fast-consuming subscriptions. The experiment was withdrawn and the official confirmation was not long-term weakening of the model. In addition, OpenAI has completed the optimization of its reasoning, with GPT-5.6 SOL subscriptions receiving approximately 10 per cent more。

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Encryption is preparing for quantum threat encryption

Several encryption companies are preparing defensive measures as quantum computing threats approach encryption. New Google studies suggest that quantum computers may have broken existing encryption technologies earlier than expected. Bitcoin was considered to be particularly vulnerable because its long history generated a large number of visible public keys. In addition, the executive warned that a premature shift to late quantum encryption could also create new vulnerabilities。

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SXT heat rises, 24h barter zooms to 15.2 times the average of nearly seven days

According to In2021, an early release of SXT over the past 24 hours has increased 15.2 times the average of nearly seven days, with a cumulative price increase of 20.2 per cent, now reported US$ 0.008135 and currently ranked in the early launch of In Thermal Search List No. 6. A significant scaling-up of the deal is accompanied by strong prices, which generally reflects increased financial participation and a high level of power. At this stage, the flow of funds, the structure of transactions and the movement of large amounts of funds deserve special attention。

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