Odaily reported that U.S. strategic petroleum reserve crude oil inventories fell by approximately 5.1 million barrels last week to 311.4 million barrels, the lowest level since 1983. (Jin10)
Odaily Planet Daily News The U.S. Securities and Exchange Commission (SEC) announced it has filed a lawsuit against Florida resident Zan Shaikh and his company, Bright Vision Distribution LLC (operating as Mining Automatic), accusing them of defrauding investors through a fraudulent crypto asset mining investment scheme involving approximately $22 million in raised funds.
The SEC stated that between June 2023 and May 2025, Shaikh and Mining Automatic promised investors fixed monthly returns from participating in a crypto asset mining business, but the mining operations were actually incapable of generating the promised returns.
According to the SEC's complaint, Shaikh and Mining Automatic allegedly made false statements regarding their own crypto mining experience, operational capabilities, the use of investor funds, and the status of the mining business. They also cited an inability to pay investor returns as an excuse for delayed payments.
Odaily reported that the spread between 10-year and 2-year US Treasury yields will narrow further in the coming months. Capital Economics stated that escalating tensions in the Strait of Hormuz could lead to a complete inversion of the yield curve. "One reason for this divergence is that short-term real rate expectations have risen more than long-term real rate expectations, likely in response to strong economic data." Capital Economics also expects the 2-year and 10-year Treasury yield curve to flatten further as investors price in expectations of additional rate hikes. "We forecast the Fed will raise interest rates by 75 basis points over the next year, compared to the 40 basis points currently reflected by the market," they stated. (Jin10)
Odaily reports that Vanguard Group, a 12 trillion dollar asset management giant, disclosed that its Mid-Cap Value ETF VOE increased its holdings of Strategy (MSTR), a Bitcoin treasury company, by 83,093 shares worth $8.16 million. VOE now holds a total of 2.12 million shares, valued at $209 million. Vanguard Group is the world's second-largest asset management company. (BitcoinTreasuries)
Odaily reported that SpaceXAI announced it is bringing Grok to Microsoft Excel, with Grok now available for Word and PowerPoint. It is reported that Grok for Excel is a free Microsoft 365 add-in. (Jinshi)
Odaily News: US President Trump posted on social media, thanking Speaker Mike Johnson, House Budget Committee Chairman Jody Arrington, and the members of the Budget Committee for their efforts in incorporating as much of the "Save America Act" as possible into the budget, while providing assistance to our great farmers and funding for our military. I am asking all House Republicans to vote “yes” on the budget resolution this week. This is a crucial first step toward passing the budget. House Republicans must stand united and fight for the "Save America Act."
Odaily Planet Daily News: According to market sources, the head of the AI safety agency under the Trump administration has resigned. (Axios)
Odaily reported that CZ stated on the X platform that AI and Bitcoin serve different functions. AI drives productivity improvements, while Bitcoin is used to combat inflation and protect wealth. CZ stated that AI cannot protect users from the effects of inflation, but Bitcoin can. The market often views AI and Bitcoin as two popular investment themes, but their nature is fundamentally different. AI is a technology that enhances corporate efficiency and economic productivity, whereas Bitcoin is a digital asset with a fixed supply.
CZ pointed out that the AI industry is developing, with global companies continuously investing billions of dollars in infrastructure such as AI software, data centers, and chips, driving transformation across sectors like healthcare, finance, and manufacturing. However, AI companies can issue more shares to raise funds for expansion, and their investment value still depends on business performance and market competition. In contrast, Bitcoin's total supply is fixed at 21 million coins, meaning holders possess a scarce asset that cannot be diluted. CZ believes that this characteristic gives Bitcoin long-term value storage attributes, providing protection when the purchasing power of fiat currency declines due to inflation.
CZ has previously stated that the AI boom might attract some capital that would otherwise flow into the Bitcoin market. As AI companies like OpenAI and Anthropic gain more capital attention, some investors may sell other assets to allocate towards AI-related investments. However, CZ believes that AI and Bitcoin are not in competition; they should be viewed as complementary assets: AI drives technological progress and production efficiency, while Bitcoin offers a store of value unaffected by supply expansion. (News.bitcoin)
Odaily reports that Infinity, an AI inference infrastructure startup, has announced the completion of a $15 million funding round, valuing the company at $100 million. Investors in this round include Touring Capital, Principal VC, as well as researchers from organizations such as OpenAI and Anthropic. The company is developing a universal reasoning library that enables different AI chips to automatically reproduce cutting-edge AI research outcomes, and enhances hardware performance through software optimization. (TechCrunch)
