Crypto Morning Brief: US Non-farm Payrolls Below Expectations, Unitree Robotics STAR Market IPO Registration Application Approved
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Crypto Morning Brief: US Non-farm Payrolls Below Expectations, Unitree Robotics STAR Market IPO Registration Application Approved
Metaplanet further increased its Bitcoin holdings by 2,823 BTC, bringing total holdings to 43,000 BTC.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
US Non-Farm Payrolls Miss Expectations, Prompting Market to Lower Fed Rate Hike Expectations
The US economy added 57,000 non-farm jobs in June, below Wall Street expectations. Following three consecutive months of employment growth exceeding expectations, the slowdown in June job growth prompted the market to lower expectations for Federal Reserve rate hikes. Data released by the US Bureau of Labor Statistics on Thursday showed that June job additions dropped significantly from the revised 129,000 in May, also lower than the 115,000 predicted by economists surveyed by Bloomberg.
This report marks a significant cooling in the labor market after three consecutive months of better-than-expected employment growth. Although job growth has declined, it remains far above the target of an average 10,000 new jobs per year in 2025. The unemployment rate dipped slightly from 4.3% in May to 4.2%. Due to investors lowering expectations for Federal Reserve rate hikes, the US dollar softened. Futures traders currently expect the Fed to raise rates in December. Previously, the market expected the Fed to raise rates in October.
Standard Chartered and Circle Launch Institutional-Grade USDC Minting and Redemption Services
Standard Chartered announced a partnership with Circle to launch USDC minting and redemption access capabilities for institutional clients, becoming the first Global Systemically Important Bank to offer such integrated services. Eligible institutional clients can use USDC through a single account opening and service process without needing to open a Circle account directly. The service will initially be provided through Standard Chartered's operations in the Dubai International Financial Centre, supporting scenarios such as on-chain settlement, fund management, and liquidity management, with plans to expand to more markets following regulatory approval.
Unitree Robotics STAR Market IPO Registration Application Approved
According to an official announcement, the China Securities Regulatory Commission approved the registration for Unitree Robotics Technology Co., Ltd.'s initial public offering (IPO). According to the approval, the company will strictly implement the issuance in accordance with the prospectus and issuance underwriting plan submitted to the Shanghai Stock Exchange. The approval is valid for 12 months from the date of registration consent; if major events occur between the effectiveness of the registration and the completion of this issuance, the company must report to the Shanghai Stock Exchange in a timely manner and handle them in accordance with regulations.
Anthropic Negotiates Custom AI Chips with Samsung and Advances Early Development of In-House Chips
According to The Information, three sources revealed that Anthropic has initiated early development work on its own AI chips and is negotiating with Samsung Electronics regarding potential foundry cooperation. This move follows the approach of competitor OpenAI, aiming to further control the costly computing infrastructure supporting its AI model operations. Google and Amazon Web Services have successfully developed their own chips after years of investment; Meta and Microsoft have also launched in-house chips; OpenAI collaborated with Broadcom to design its own chips in 2024 and released the first product of their collaboration, Jalapeño, last month.
Insiders stated that Anthropic is currently still at the stage of determining chip positioning, what functions need to be implemented, what performance level to achieve, and how to integrate into servers or server clusters. The company has engaged in discussions with multiple chip design companies but has not yet entered the detailed design, testing, and manufacturing stages. Insiders indicated that Anthropic is considering adopting Samsung's 2-nanometer manufacturing process and advanced packaging technology.
Microsoft Establishes New 6,000-Person Department to Assist Enterprises in Advancing AI Deployment
According to Bloomberg, Microsoft announced the formation of a new organization consisting of 6,000 employees, specifically to help enterprises carry out AI technology implementation and strategic deployment. The department will integrate engineering, corporate training, management, and industry expertise to provide customers with more systematic AI application support.
SK Hynix Market Cap Evaporates $160 Billion in Single Day, Ranking Surpassed by Bitcoin
SK Hynix lost $160 billion in market cap in a single day (approximately 1 trillion RMB), with total market cap falling below the $1 trillion threshold, while Bitcoin saw a slight rebound today. According to 8MarketCap data, Bitcoin's market cap has currently returned to above $1.2 trillion, with a 24-hour increase of 2.41%, rising to the 16th position in global asset market cap ranking, surpassing storage giants such as Samsung, Micron, and SK Hynix.
US Government Plans to Introduce AI Model Regulatory Standards
According to the Financial Times, the US government is consulting with multiple AI enterprises and plans to launch voluntary industry standards for frontier AI model releases as early as next week, focusing on regulating model performance benchmarks, release timing, and domestic and international access permissions, to reduce the risk of advanced technology being misused by other countries.
Affected by tightening regulations, enterprises such as OpenAI, Anthropic, and Google have adjusted related businesses. Among them, OpenAI delayed the full release of GPT-5.6 as required, opening it only to a few partners who passed qualification audits; two models previously affected by export restrictions at Anthropic were deregulated this week; Google is also maintaining close communication with the government while advancing the new generation code model. The report also pointed out that OpenAI and Anthropic are currently preparing for initial public offerings.
Yi He: Binance Officially Enters Philippines Market
Binance Co-founder Yi He posted an announcement stating that Binance has officially entered the Philippines market. At the same time, she shared documents indicating that the Securities and Exchange Commission of the Philippines has finally approved BlockShoals Technologies to launch financial product and service testing under its regulatory "Strategic Sandbox" framework. Previously, BlockShoals had completed the remaining compliance matters required by the regulatory agency, and its sandbox application received preliminary approval on November 12, 2025.
According to the disclosure, BlockShoals will operate under a crypto asset intermediary model, enabling Philippines users to access some products and services provided by its global crypto asset service provider partners. In the initial testing phase, the company will first complete system integration with local virtual asset service provider partners within 90 days. After integration is complete, BlockShoals will proceed with implementation according to the approved testing plan, including conducting user access through its global crypto asset service provider partner Binance, with relevant processes subject to applicable safeguards and regulatory supervision.
Robinhood Launches Commodities and ETF Perpetual Futures in Europe, Supporting Up to 10x Leverage
According to Bloomberg, Robinhood Markets Inc. announced the launch of perpetual futures products linked to commodities, ETFs, and currencies in Europe. Eligible European users can trade perpetual contracts (no expiration date) for assets such as gold, silver, crude oil, and EUR/USD exchange rates, supporting up to 10x leverage.
Metaplanet Increases Bitcoin Holdings by 2,823 BTC Again, Total Holdings Rise to 43,000 BTC
According to an announcement published on Metaplanet Inc.'s official X account, Japanese listed Bitcoin treasury company Metaplanet (Tokyo Stock Exchange Code: 3350) announced the purchase of an additional 2,823 BTC, bringing the cumulative total Bitcoin holdings to 43,000 BTC.
Today's Market Conditions
Recommended Reading
Two Years of Mining for $5? $Grass Phase 2 Rewards Switched to USDC, 170 Million Token Airdrop Gone Without a Trace
https://www.techflowpost.com/article/32326
Remember Grass, which allowed users to earn rewards by contributing bandwidth?
Grass Foundation officially launched the Stage 2 Rewards Checker tool on July 1 (Rewards Checker), users can view the USDC reward amount corresponding to bandwidth contributions during the period from October 14, 2024 to June 8, 2026 (Stage 2 Epoch 1-19) via the Dashboard.
The team's previous official stance was that the project was close to profitability by the end of last year, and this move aims to directly compensate contributors from real network income rather than continuing to rely on token incentives, marking an important step in Grass's transition from "subsidy-driven growth" to a "self-sustaining economy."
However, after the checker went live, the comment section of related tweets on the X platform was quickly flooded with massive user feedback. Many participants who ran nodes for a long time shared allocation screenshots, expressing disappointment that returns were far below expectations, with some voices even questioning the project's fairness.
Morgan Stanley Research Report Interpretation: North American Semiconductor Supply is Tightening, but Large-Scale Restocking Has Not Yet Begun
https://www.techflowpost.com/article/32327
Morgan Stanley's semiconductor inventory tracking report released on July 1 clarified the current state of the North American semiconductor supply chain: Q1 2026 inventory increased by only 9 days quarter-over-quarter, whereas a normal Q1 sees an increase of 19 days. Distributors are actively destocking, chip manufacturers are restraining expansion, customers are overall stable, and supply is indeed tightening.
But large-scale restocking has not yet arrived. Inventory across the entire chain remains 33 days higher than the historical median. Counting from the inventory peak in 2023, the industry spent nearly two years pressing inventory down from over 100 days, but could not press down these last 33 days.
The core judgment of the report points to a divergent situation. The industry as a whole has not yet reached the time for restocking, but the supply and demand relationships in three segments—analog chips, computing power networks, and memory chips—have tightened first. Morgan Stanley provided a clear list of targets: ADI, NXP, NVDA, AVGO, CRDO, MU, SNDK, plus equipment side MKSI, KLAC, LRCX, ONTO.
Robinhood's Self-Built Public Chain Launches Mainnet, "Brokerage" Officially Transforms into DeFi Gateway, HOOD Rises Over 8% in Single Day
https://www.techflowpost.com/article/32320
At the "The World is Flat" conference in London on July 1, Robinhood launched its self-built Ethereum Layer 2 network Robinhood Chain on mainnet, simultaneously rolling out a full product line including tokenized stocks, Morpho-driven 7% stablecoin lending, Lighter perpetual futures, and AI agent trading, and announced entry into Canada, securing a Singapore license, and preparing UK crypto business. This brokerage is no longer satisfied with being a retail stock App, but aims to stuff stocks, tokens, derivatives, prediction markets, and AI agents into the same gateway. On the day the news was announced, HOOD rose about 8.35% intraday, trading near $108.65.
Robinhood held a press conference at the Old Royal Naval College in Greenwich, London, where CEO Vlad Tenev called it "the most grand global expansion and product vision to date." A complete stack from underlying public chain to upper-layer applications was thrown out on stage: own chain, own stablecoin, tokenized stocks, DeFi lending, AI trading, multi-continent distribution.
According to multiple media reports including The Block, Forbes, and The Defiant, the core of this press conference was Robinhood Chain officially moving from testnet to production environment. Around this chain, Robinhood strung together previously scattered crypto moves into a closed loop in one go.
Venice AI Completes $65 Million Financing at $1 Billion Valuation, Founder Says "No Token Sales", Will $VVV Welcome New Catalyst?
https://www.techflowpost.com/article/32319
Privacy AI platform Venice completed its first round of external financing of $65 million, valuing at $1 billion to become a unicorn, led by Dragonfly with Coinbase Ventures participating. For VVV holders, the real highlight is not this money, but the equity + token hybrid structure of this round: Founder Erik Voorhees emphasized that the team sold not a single token, will continue to buy back and burn, and reduce issuance; but investors hold warrants to buy 5 million VVV within 8 years, exercising starts after one year, with about 6,000 new tokens entering the market daily. After the news was announced, VVV rose in response, and the market interpreted it as positive.
Don't Misinterpret Meta Selling Computing Power as Industry-Wide AI Computing Power Surplus
https://www.techflowpost.com/article/32314
One piece of news from Meta crashed the entire AI hardware sector. Market rumors spread that Meta is considering renting out GPU computing power externally, triggering concerns about AI computing power surplus.
Sectors such as optical modules, HBM, semiconductor equipment, and Neocloud fell collectively.
But just a few months ago, Meta just raised full-year capital expenditure and continued to purchase AI computing power heavily.
Does renting out computing power mean AI demand has peaked, or is it just about improving GPU utilization?
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