US stocks ended the week lower, dragged by persistent weakness in chip stocks and growing AI valuation concerns. The University of Michigan survey showed long-term inflation expectations below forecasts, easing some rate hike fears, but failed to offset the selloff pressure. Two prominent Chinese hedge funds called AI stocks a bubble ready to burst. SoftBank shares fell after reports that OpenAI may delay its IPO to 2027. South Korea's Kospi index triggered a trading halt for the second time this week due to sharp declines in chip stocks. In the US, Bank of America data showed investors withdrew $8.5 billion from US equities, the first outflow in three months. Multiple analysts expressed skepticism about AI investment returns, with one CIO noting that Mag 7 and Bitcoin peaked nine months ago and have not recovered.

US stocks closed lower this week, pressured by persistent weakness in chip stocks and AI valuation concerns spreading from Asia to the US market. The University of Michigan's long-term inflation expectations came in below forecasts, easing some rate hike worries, but failed to offset the selloff. Bank of America data showed investors pulled $8.5 billion from US equities for the first time in three months. Notable hedge funds and analysts warned AI stocks are in a bubble that may burst, while Questar Capital Partners stated that Mag7 and Bitcoin peaked nine months ago and have not yet recovered. Crude oil prices continued to decline as tanker traffic through the Strait of Hormuz remained steady.

彭博社报道，芯片股持续走弱导致美股本周收跌，AI估值泡沫担忧从亚洲蔓延至美股。美国银行数据显示投资者三个月来首次撤资85亿美元，同时Questar Capital指出Mag 7和比特币已在9个月前见顶且尚未恢复。原油价格延续下跌，通胀下行空间有限。

Crypto exchange Kraken is reportedly planning a strategic investment in decentralized lending protocol Aave, signaling the accelerating convergence of CeFi and DeFi. Despite past black swan events that drained liquidity, Aave’s robust architecture, recurring cash flows, and upcoming token buyback program reinforce its long-term value. The move highlights the broader trend of DeFi expanding into value capture and real-world assets (RWA).

比特币价格持续下跌引发散户恐慌抛售，但华尔街机构正反向大举买入加密金融基础设施。Invesco申请代币化基金、Kraken洽购Aave、Circle联手野村证券推进稳定币跨境结算、SBI收购Bitbank构建全栈金融集团。文章指出，这一轮行动由监管与技术周期驱动，而非价格波动，标志着加密基建所有权从加密原住民向传统金融机构系统性转移。

Base released a post-mortem of the two block production outages on June 25 and 26, lasting 116 and 20 minutes respectively. The root cause was a journal state clearance bug in the sequencer's block-building logic. No user funds were at risk. The team has fixed the bug and will enhance fuzz testing, monitoring, and introduce an automated recovery mechanism.

As 2026 arrives, the US is reshaping capital markets through regulatory advances (GENIUS Act, SEC/CFTC joint guidance) and institutional practices (J.P. Morgan, State Street executing real transactions on Solana). Asian institutions face a strategic window to follow suit in phases based on local regulatory maturity.

Base mainnet suffered two block production outages on June 25 and 26, lasting 116 and 20 minutes respectively, with user funds remaining secure throughout. Root cause traced to a sequencer block-building logic bug where stale journal state after failed transactions corrupted gas calculations, producing invalid state blocks. Base has deployed a patch and plans enhanced fuzz testing, stress testing, and automated recovery mechanisms to prevent recurrence.