Trump Media & Technology Group (TMTG), the Nasdaq-listed company trading under DJT, reported a net loss of $238.1 million for the second quarter, with revenue of just $1.7 million. According to the company’s filing and a CoinDesk report cited in the source material, the business recorded $360.6 million in losses tied to falling crypto asset prices in the first half of the year. Most of the quarterly loss was non-cash. Unrealized losses on digital assets, digital assets posted as collateral, and equity securities totaled $190.4 million. As of June 30, TMTG held 9,477.16 BTC with a fair value of about $557.1 million. The report also notes that Donald Trump, through a revocable trust, owns more than 40% of the company and remains its largest shareholder. The filing adds another entry to TMTG’s growing exposure to bitcoin and other crypto-related assets, after the company previously moved $165 million in bitcoin to Crypto.com and later said it would end that partnership and shift its business focus to fusion energy.

Crypto.com and Trump Media & Technology Group Corp (NASDAQ: DJT) have scrapped their earlier plan to build a direct prediction market integration on Truth Social, opting instead for a marketing partnership that pushes Crypto.com's prediction market products to Truth Social users. TMTG interim CEO Kevin McGurn said the company's priorities are raising Truth Social revenue, expanding its global media business, and completing the merger with TAE. He called the marketing agreement a better fit with those goals. Crypto.com, meanwhile, is broadening its product line beyond digital assets. It recently hired former OKX executive Iskandar Vanblarcum to lead its prediction market division. The shift was reported by FX News Group and relayed by ChainCatcher. The revised deal keeps both companies involved in prediction markets without embedding the feature directly into Truth Social, a notable step as Crypto.com pushes deeper into non-crypto offerings and Trump Media seeks new revenue streams ahead of its planned merger with TAE.

A weaker-than-expected U.S. July nonfarm payrolls report reset rate expectations and helped drive a broad risk rally, while traders also turned their attention to the next inflation print. Payrolls fell by 23,000 versus expectations for an 80,000 gain, and prior months were revised lower by a combined 103,000. After the release, the market cut the implied probability of a September Federal Reserve rate hike from about 55% to 40%, while the Dow Jones Industrial Average, Nasdaq and S&P 500 all rose, with the S&P 500 closing at another record. At the same time, geopolitical tension tied to U.S.-Iran talks and shipping routes in the Strait of Hormuz added a fresh premium to crude. Brent briefly rose more than 2% above $84 and WTI traded near $78. Gold extended its rally, rising 2.3% on Friday, topping $4,300 and briefly moving above $4,370, while global gold ETF holdings increased by 24 tonnes since July 20. Inside the AI complex, leadership shifted again. Optical names such as Coherent, AAOI, Credo and Lumentum outperformed, while memory and storage names including Seagate, Western Digital, SanDisk, SK Hynix and Micron lagged. Goldman Sachs trader Peter Callahan described the move as a structural revaluation within AI infrastructure, with optical hardware, software and network demand gaining traction as investors reassess where AI spending is showing up first.

At a media briefing for Taipei’s "Trendy Taipei 2026" tech event on Aug. 4, Asian FinTech Alliance (AFA) chair and honorary chair of the Taiwan FinTech Association Tsai Yu-ling said she had specifically checked with Taiwan’s Financial Supervisory Commission and was told that virtual asset service providers, or VASPs, will be classified as "financial institutions" under the new licensing framework rather than "quasi-financial institutions." Tsai said the change reflects how crypto assets, which were not legally defined assets last year, have now become legal and compliant assets after the passage of the dedicated law, and can be regarded as financial assets with FSC approval. She also pointed to the next issue for the market: how traditional financial institutions will work with VASP operators now that the law allows financial institutions to run such business lines concurrently. The event also outlined the first AFA Awards, which drew 88 nominations from 16 economies. Nine international judges are set to travel to Taipei for the Sept. 1 final and awards ceremony, where the Top 10 companies will pitch live and winners will be selected on site. FinTechOn 2026 and the second AFA Summit will follow on Sept. 2-3, with speakers including GBBC CEO Sandra Ro, Peter Kerstens, an Abu Dhabi regulator representative, and a JPMorgan managing director overseeing Asia-Pacific product for securities services.

Active equity mutual funds that shifted heavily into technology in the second quarter came under sharp pressure during July’s sell-off in A-share tech stocks. According to CITIC Securities estimates cited in the report, active public funds’ allocation to the electronics sector reached a record 42.64% by the end of the second quarter. Wind data showed that 67 active equity funds sharply raised their TMT exposure, with average weighting climbing from 6.75% in the first quarter to 54.99% by the end of the second. The reversal hit funds that rotated out of consumer, liquor, healthcare, dividend and other traditional holdings and into AI, semiconductors and computing-power names near the June highs. Funds managed by well-known stock pickers including Zhang Kun, Liu Yanchun, Ke Haidong and Zhu Shaoxing were cited as examples of the broader repositioning. In July, the ChiNext Index fell 25.29%, the STAR 50 Index dropped 28.06%, and the STAR Composite Index lost more than 30% by July 30. The report also highlighted newly launched funds that built positions during the June peak and then saw net asset values slide below CNY 0.6. It cited Guotai Haitong New Energy Ruixuan Mixed Initiated A and Rongtong New Materials A as examples. The article was originally published by the Economic Observer, written by Hong Xiaotang and Zhang Pengrui.

A string of headline-making events in 2026 has put a sharp spotlight on a generational shift among Chinese entrepreneurs. Memory chipmaker CXMT debuted on Shanghai’s STAR Market on July 27 with a valuation above 3.28 trillion yuan, later crossing 4 trillion yuan in early trading on July 31, while founder Zhu Yiming’s stake was valued at more than 90 billion yuan. In the same month, Unitree founder Wang Xingxing appeared on the cover of Time under the headline “The Robot Era Is Here,” alongside the company’s 2.7-meter mass-produced manned mech GD01. The article ties those developments to a broader reordering of wealth creation in China. Cambrian became the first STAR Market company to top a 1 trillion yuan market capitalization in June, DeepSeek founder Liang Wenfeng was described as the world’s richest AI large-model founder with a $36 billion fortune after the company’s first financing round, and ByteDance founder Zhang Yiming retained the top spot on the New Fortune rich list with 543.9 billion yuan. The core argument is that China’s entrepreneurial center of gravity is moving away from internet-era business models and toward technology-led ventures built around AI models, semiconductors, embodied intelligence and robotics. The piece frames the shift not simply as a rotation in wealth rankings, but as a change in the country’s industrial agenda and in the type of founders rising to the top.

Goldman Sachs argues that July’s action in U.S. equities looked less like an index-level breakdown and more like a position-level purge. The S&P 500 stayed relatively stable, holding within a 3.5% range for the month and remaining less than 2% below its high, while equal-weight, low-volatility, and ex-AI versions of the benchmark all reached record highs during the week. Under the surface, though, the unwind was severe. Goldman’s flagship momentum basket saw daily swings near 10%, its TMT momentum basket moved from a 145% year-to-date gain on June 22 into its worst drawdown on record before rebounding 17% in a single day, and the firm’s prime brokerage business logged its largest gross exposure reduction since late 2022. Goldman also pointed to a sharp contraction in Korea equity leveraged ETF assets, from $53 billion at the June peak to $15 billion now. The bank said U.S. stocks still have support from solid economic data, strong earnings growth, the prospect of more constructive fund flows, and nearly $1 trillion in AI capital spending moving through the system. Even so, risk-reward has become less attractive, long-end Treasury moves remain a problem for duration-heavy growth stocks, and the next phase of the bull market may be far less forgiving for leverage and crowded positioning.

A PANews commentary argues that the line between crypto trading and equity speculation has been fading, with July’s sharp selloff in South Korean tech stocks offering the clearest example. On July 13, 2026, the KOSPI fell 8.95% in a single session, SK hynix dropped 15.37%, and Samsung Electronics lost more than 10%. More than 1.2 million leveraged accounts reportedly received margin calls, while brokers liquidated between 320,000 and 460,000 accounts. The article says the shift did not begin with the selloff itself. From the second half of 2025 into early 2026, a number of crypto traders and KOLs moved into equities, especially U.S. and Asian AI-related names, bringing with them a playbook built on narratives, leverage, and rapid sentiment shifts driven by social media. In that environment, storage and semiconductor stocks became crowded trades, while leveraged single-stock ETFs turned into a preferred vehicle for retail speculation. The piece also contrasts bitcoin’s drawdowns and volatility with those of several major tech names, arguing that some equities have recently been moving even faster than crypto. It frames the change as a shift in market structure and trading behavior rather than a claim that stocks and digital assets are fundamentally the same.