Hackers recently compromised the social media accounts of SpaceXAI and Starlink, then used the accounts to launch a token called $SCATMAN before quickly cashing out, according to Techub News. On-chain data cited from Lookonchain shows the attacker minted 10 trillion tokens and sold the entire supply for 59 ETH, worth about $108,000 at the time cited in the report. A related wallet also realized another 14.7 ETH, or roughly $27,000. Combined, the proceeds came to about $135,000. The report described the incident as a classic account-takeover rug pull, in which attackers lean on a well-known brand name to attract buyers, mint a large amount of tokens, and exit quickly. The identity of the hacker remains unclear. The destination of the funds has not been disclosed, and the status of the compromised accounts had not been confirmed at the time of publication.

SK Hynix, the biggest symbol of South Korea’s AI equity boom, came under heavy pressure on July 13 as the Korea Exchange triggered a circuit breaker and the KOSPI’s intraday loss widened to 6%. SK Hynix at one point fell 12%, slipped below KRW 2 million, and marked its lowest level since June 11, leaving the stock down 33% from its June 25 record high. The sell-off followed a dramatic run-up. Over the previous 12 months, the company’s Seoul-listed shares had climbed about 850%, pushing its market capitalization above $1 trillion. The rally was fueled by its dominant HBM position, including more than 56% global market share and roughly 70% of HBM orders for Nvidia’s new AI servers, according to the source text. Pressure built in early July after news that Meta planned to sell AI computing capacity externally, a development investors read as a sign that hyperscale buildouts may have gone too far. A KIS earnings preview added to the weakness on July 13, projecting second-quarter operating profit of KRW 60.4 trillion, up 556% year over year but about 8% below the KRW 65 trillion market consensus. The move has also exposed how leverage amplified volatility in Seoul. Single-stock leveraged ETFs, margin financing, and persistent retail buying against foreign outflows turned a semiconductor pullback into repeated circuit-breaker sessions. At the same time, SK Hynix’s $26.5 billion Nasdaq ADR deal brought fresh attention to dilution, FX conversion flows, and the pricing gap between New York and Seoul.

Foresight said in a brief market commentary that the same fact can be framed in opposite ways depending on where prices are moving. In its wording, the market calls it bullish when prices rise and bearish when prices fall. The source text is short and does not include any supporting data, asset names, examples, or a broader timeline. The note focuses only on how market narratives can shift with price direction, without adding further explanation or attribution beyond the original statement.

Oil prices rose sharply after the latest flare-up between the United States and Iran, with Brent crude and West Texas Intermediate both up more than 4% on Monday to $78.86 and $73.94, respectively, at the time of writing. The move followed a weekend of escalating military exchanges, including a new round of US airstrikes inside Iran and retaliatory missile attacks by Iran targeting US bases in the region. According to Reuters, US Central Command said American forces struck dozens of targets at multiple sites in Iran on Sunday using precision munitions. Iran’s Revolutionary Guard said on Monday it had attacked US military bases in Kuwait and Bahrain. Reports cited in the source also said Iran’s broader weekend missile campaign affected Qatar, Jordan and Oman. The market is also focused on conflicting claims over traffic through the Strait of Hormuz. Iran said the waterway had been closed again after a ship was hit for not following an approved route, while Donald Trump said it remained open to commercial shipping. US officials said 20 ships had been escorted through in the past 24 hours, but Kpler data showed only six vessels transited the strait on Sunday, the lowest level in five weeks. With oil now in focus, traders are watching the July 14 US CPI release for signs of inflation pressure.

AI-related technology stocks traded lower across the board in U.S. premarket trading on July 13, according to market data cited by Bitget. SK Hynix posted the sharpest decline, falling more than 10% before the open. Other chip and equipment names also moved down, with AMD, Intel, and Arm each losing more than 3%, while Lam Research dropped more than 4% and Micron Technology fell more than 6%. The weakness also extended to storage names. Western Digital was down 6.6% in premarket trading, Seagate Technology fell 5.4%, and SanDisk dropped 6.94%. The data was reported by TechFlow.

BlackRock now manages $2.93 billion in tokenized on-chain assets, according to Odaily, with Ethereum accounting for $1.1 billion and ranking ahead of Avalanche, Solana, and BNB Chain. The firm’s main on-chain exposure is concentrated in the BlackRock USD Institutional Digital Liquidity Fund, or BUIDL, which BlackRock and issuance platform Securitize launched in 2024. The fund holds cash, U.S. Treasuries, and repurchase agreements, while investor interests are represented as blockchain-based tokens. BUIDL has since expanded beyond Ethereum to eight networks: Solana, Polygon, Avalanche, Arbitrum, Optimism, Aptos, and BNB Chain. Separately, Bitcoin.com News reported that on May 8 BlackRock filed paperwork with the U.S. Securities and Exchange Commission for two new tokenized money market funds, BSTBL and BRSRV. The planned products are aimed at stablecoin issuers and holders.

Morgan Stanley chief strategist Michael Wilson, a well-known Wall Street bear, said in a new research note that the market narrative in U.S. equities is shifting as earnings growth spreads beyond major technology names to a broader set of stocks. According to Wilson and his team, the median constituent in the S&P 1500 Composite has now posted earnings-per-share growth above 10%, a sign that profit momentum is no longer concentrated in a small group of mega-cap companies. He said the broader advance has been driven mainly by the earnings resilience of midstream businesses. Wilson also pointed to a notable change in market performance: the equal-weighted S&P 500 has started to outperform the market-cap-weighted version for the first time since 2022. In his view, that shows traditional sectors tied more closely to macroeconomic growth are showing stronger defensive qualities and better growth potential even as large technology companies continue to perform well.

Ripple Chief Executive Officer Brad Garlinghouse said the company seriously considered winding down after the U.S. Securities and Exchange Commission sued it in 2020, including a plan to distribute Ripple’s XRP holdings to shareholders and close the business. Speaking at the University of Kansas School of Business, Garlinghouse said he and co-founder Chris Larsen discussed liquidation as they faced what he described as a state apparatus with “infinite power and resources.” He said the company could have allocated its XRP based on share ownership and shut down, which in turn would have ended the case. Ripple chose not to take that route because hundreds of employees would have lost their jobs. Garlinghouse also said he met SEC officials four times between 2017 and 2019 without a lawyer present and was never told that XRP might be viewed as a security. The case went on for four years and cost Ripple $150 million in legal fees, according to Garlinghouse. He pointed to Judge Analisa Torres’ ruling that XRP itself is not a security as a key turning point. The two sides later reached a settlement in May last year, after the Trump administration took office and appointed a new SEC chair viewed as more friendly toward crypto.