sweep

After the Democratic Party won the midterm elections, U.S. stocks surged significantly on Wednesday, but as investors continued to pull out of tech stocks for the second consecutive trading day, the Nasdaq Composite Index plummeted on Thursday. The tech-heavy Nasdaq fell by 3.3%, and the S&P 500 Index dropped by 1.9%. The Dow Jones Industrial Average decreased by 489 points, a decline of 0.9%. Although stocks like Chevron and Johnson & Johnson rose, it was not enough to offset the drag on the Dow from the tech stock sell-off. AI-related stocks, especially those in the chip industry and data centers, fell for the second day in a row.According to Gate market data, AMD (AMD.O) fell by 12%, Micron Technology (MU.O) dropped by 9%, SK Hynix (SKHY.O) decreased by 8.8%, and Nvidia (NVDA.O) fell by 5%. The Philadelphia Semiconductor Index plummeted by 8%, reaching a new low since April 20. The Nasdaq Composite Index has dropped more than 10% from its closing record high set on October 6.Investors are concerned that the Democratic Party controlling both houses of Congress and winning key gubernatorial elections may lead to more regulation of AI infrastructure development across the United States.Jordan Watson, portfolio manager at Tandem Investment Advisors, stated that the stock market surge and the trend of funds pulling out of AI stocks may only be a temporary phenomenon. However, as investors digest the election results and their potential policy impacts, the market may face more volatility.

JPMorgan conducted a scenario analysis on four potential congressional power combinations following the U.S. midterm elections. Among them, the probability of the Democratic Party winning control of both the House and Senate is the highest at 66%; the Republican Party's chance of retaining both chambers is only 7%, but this corresponds to the largest expected increase in the S&P 500 index among the four scenarios. In the scenario where the Democratic Party controls both chambers, the S&P 500 index could drop by 0.25% or rise by 0.5%. Concerns about stricter AI regulations and restrictions on data center construction may trigger a sell-off in AI concept stocks.JPMorgan believes that even if legislation restricting the development of the AI industry is passed by Congress, it would be difficult to gather enough votes to override Trump's presidential veto. Therefore, it suggests that traders consider buying during pullbacks in tech stocks. Fiscal deficit spending may decrease, and long-term U.S. Treasury yields could face downward pressure. Some corporate executives associated with Trump's political donations may face greater risks of congressional investigations. The probability of the Democratic Party controlling the House and the Republican Party controlling the Senate is 26%, with the S&P 500 index expected to rise by 0.5% to 1%. The market may welcome the legislative stalemate brought about by the distribution of power, leading to a potential decline in long-term U.S. Treasury yields, although some companies and their leaders may still face congressional inquiries.In the scenario where the Republican Party retains both chambers, the S&P 500 index is expected to rise by 1% to 1.25%. The market would not have to immediately face new congressional regulatory risks, and the additional policy pressures on tech companies would also be relatively limited; however, fiscal deficit spending may further increase, pushing long-term U.S. Treasury yields higher, and Trump may continue military actions against Iran. The probability of the Republican Party controlling the House and the Democratic Party controlling the Senate is 1%, with the S&P 500 index expected to rise by 0.25% to 0.75%. A split Congress could lead to more intense budget battles, potentially resulting in a federal government shutdown, and the Democratic Party could still conduct congressional investigations after gaining control of the Senate.

The long-established financial media in Hong Kong, "Hong Kong Economic Journal," published a column article citing statistics from RootData, indicating that in the first seven months of 2026, over 100 cryptocurrency projects have announced shutdowns, bankruptcies, or indefinite service suspensions. The article states that the actual number of closures may be higher, as many projects have not officially announced their status but are "slowly disappearing."The article further states that this wave of closures is not limited to a single sub-sector but is widely affecting various projects, including exchanges, wallets, DeFi, DAO tools, Layer 2, and infrastructure, showing a trend of spreading across the entire sector.

In less than two weeks since its listing, Zhongji Xuchuang H shares have become the most net purchased Hong Kong stock by South Korean investors in nearly a month. Data from SEIBro under the Korea Securities Depository (KSD) shows that South Korean investors' buying settlement amount for Zhongji Xuchuang H shares was $45.067 million, while the selling settlement amount was $1.6729 million, resulting in a net buying settlement amount of $43.3942 million, equivalent to about 340 million Hong Kong dollars, ranking first among South Korean investors' net purchases of Hong Kong stocks during the same period.Zhongji Xuchuang H shares were listed for trading on July 30, and in just 7 trading days, its net buying settlement amount was nearly 4 times that of the second place on the list.

According to Jinshi News, the U.S. Central Command has warned that it will conduct military operations near the Strait of Hormuz and will strike vessels involved in or supporting the laying of mines in the name of self-defense. The U.S. military stated that Iran is still attempting to obstruct mine-clearing operations and safe navigation in the Strait of Hormuz, and any vessels found to be participating in mine-laying activities could become targets. As of May 29, the U.S. military has forced 115 commercial vessels to change their course.

State Street has partnered with Galaxy to launch the on-chain liquidity fund SWEEP, allowing investors to "one-click transfer" stablecoins into yield-bearing tokenized assets, achieving 24/7 on-chain cash management.The fund will initially be deployed on Solana, with plans to expand to Stellar and Ethereum in the future, and integrate infrastructure such as Chainlink. SWEEP is aimed at qualified investors and is positioned similarly to BlackRock's BUIDL and other products, providing bond-like yields through an on-chain structure, representing the latest exploration of the integration of traditional asset management and blockchain.

According to CoinDesk, Galaxy Digital and State Street have jointly launched the tokenized fund "State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP)," which migrates cash management and yield products to the blockchain network, achieving 24/7 on-chain liquidity management.This product allows institutional investors to allocate stablecoins into the fund, maintaining redemption capabilities while earning yields, breaking through the trading hour restrictions of traditional money market funds. The fund is initially built on Solana and plans to expand to Ethereum and Stellar. Galaxy is responsible for the tokenization infrastructure, Anchorage Digital provides custody services, and State Street manages the underlying traditional securities assets.This launch continues the trend of institutional exploration of on-chain cash management. Previously, BlackRock's BUIDL fund validated institutional demand for tokenized U.S. Treasury products, driving continuous capital inflow into on-chain fixed income assets. Currently, State Street manages over $5 trillion in assets, and this move is seen as an important step towards fully tokenizing traditional financial products, while also marking the gradual extension of on-chain financial infrastructure into the institutional cash management sector.

According to Jin Shi reports, Trump stated that the fake news media has completely lost its credibility. They always claim that Iran is winning, but in fact, everyone knows that Iran is losing, and losing badly!Iran's navy is gone, the air force is gone, the air defense system is virtually non-existent, and the radar has been paralyzed. The factories for missiles and drones (along with the missiles and drones themselves) have also been largely destroyed. And most importantly, their long-standing leaders are no longer in power! The only thing Iran can still use to intimidate is the threat of ships hitting their mines.By the way, their 28 mine-laying boats are now all lying at the bottom of the sea. We have now begun to clear the Strait of Hormuz, which is a great help to countries around the world (including Japan, South Korea, France, Germany, and many others).Incredibly, these countries themselves do not have the courage or willingness to do this. Interestingly, oil tankers from many countries are now heading to the United States to load oil.

According to Cointelegraph, the latest data shows that the impact of the winter storm in January on Bitcoin mining operations in the United States has become more pronounced.Data indicates that during the storm, the daily output of publicly listed mining companies significantly decreased. The storm swept across much of the continental United States, forcing miners to scale back operations due to grid pressure, snow accumulation, icing, and extreme cold weather, highlighting the close relationship between mining activities and the state of the energy market.Data shared by CryptoQuant's research director Julio Moreno shows that in the weeks leading up to the storm, the daily output of publicly listed mining companies tracked by CryptoQuant typically ranged between 70 to 90 Bitcoins, while at the height of the storm, this number dropped to about 30 to 40 Bitcoins per day.

Ondo Finance, in collaboration with State Street Investment Management and Galaxy Asset Management, has announced the SWEEP program, a new private tokenized liquidity fund aimed at bringing traditional cash management on-chain.Ondo's flagship tokenized fund, OUSG, plans to serve as the primary anchor investor in SWEEP, utilizing the fund to further diversify its reserves and enhance the opportunities for OUSG investors to access 24/7 liquidity. The SWEEP program is set to launch on the Solana network in early 2026. OUSG holds a diversified portfolio of institutional tokenized U.S. Treasury funds, aggregating the 24/7 stablecoin liquidity provided by many of these funds, and offering this liquidity to OUSG holders as well as to holders of these third-party funds through Ondo Nexus.

According to CoinDesk, State Street and Galaxy Asset Management plan to launch a tokenized liquidity fund in early 2026, which will use stablecoins to facilitate around-the-clock investor capital flow, thereby expanding the application of public chains in institutional cash management.The fund, named "State Street Galaxy Onchain Liquidity Sweep Fund" (SWEEP), will accept subscriptions and redemptions in the PayPal-issued stablecoin PYUSD as long as the fund has available assets to process related requests. Only qualified purchasers who meet established thresholds will be able to invest in the fund. Ondo Finance has committed approximately $200 million as seed capital for this product.The two companies expect that the SWEEP fund will be issued on the Solana blockchain at launch, with plans to add Stellar and Ethereum blockchains later. Galaxy Asset Management aims to leverage Chainlink's tools for cross-chain data and asset transfers.

ChainCatcher news, liquidity strategic investment company Unicorn Verse announces the acquisition of Sweepy. Sweepy will officially be renamed UnicornX. UnicornX aims to become an on-chain trading ecosystem, committed to leading industry development through innovation.