Answer Box: Cryptocurrency markets showed mixed performance on July 15, with ETH and ZEC leading gains while XEC and ALLO dropped sharply. In traditional markets, SK Hynix shares surged 22% to an all-time high, while IBM crashed 25% in its worst day since 1987. Federal Reserve Chair Warsh cautioned that the latest CPI decline does not mean the inflation fight is over, and geopolitical tensions with Iran escalated.
Crypto Market: Mixed Moves and Meme Coin Activity
Major cryptocurrencies traded divergently over the past 24 hours. ETH rose 6.75%, SOL gained 4%, and ZEC jumped 12.75%, while XEC fell 14.91% and ALLO dropped 21.28%. BTC added 4.44%, and XRP climbed 4.37%. Among the top gainers on OKX, KAITO led with a 19.75% increase, followed by LIT at 13.54% and VELO at 12.34%.
On-chain meme coins continued to attract attention, with the top five by volume being SJM, BWO, WSB, SMELL, and GRBG, according to GMGN data. The sector remains a hotbed of speculative activity, though traders should exercise caution given the high volatility.
SK Hynix Soars, IBM Suffers Historic Drop
SK Hynix shares climbed 22% to $185.9, hitting an all-time high and pushing its market cap to $1.36 trillion, according to MSX.COM. The chipmaker's strong performance reflects sustained demand for memory chips used in AI and data centers.
In stark contrast, IBM plunged 25% after reporting preliminary second-quarter sales that missed expectations. The company attributed the shortfall to customers shifting spending toward chips and servers, marking its worst single-day decline since 1987.
Fed Chair Warsh: Inflation Fight Not Over
Federal Reserve Chair Kevin Warsh told the House Financial Services Committee that the June CPI report—which showed annual inflation easing from 4.2% to 3.5%—does not mean the central bank's job is done. He reiterated the 2% inflation target and said the Fed will review its 2020 policy framework, calling it a mistake. Warsh also noted that AI could disrupt employment in the short term but create new jobs. Some economists warned that rising U.S.-Iran military tensions could reverse the disinflation trend.
Geopolitical Risks and Security Incident
Iran's Supreme Leader military adviser Yahya Rahim Safavi stated that the U.S. has entered a "formal state of war" with Iran, according to CCTV International. The comment heightened concerns about stability in the Strait of Hormuz, a critical oil shipping lane. Former President Donald Trump said he dislikes the idea of charging tolls for passage through the strait, noting that Gulf countries prefer to invest in the U.S. instead.
Separately, the official X account of Noxa Fi was reportedly hacked. Onchain Lens warned users not to connect wallets or sign transactions, as some who interacted with malicious posts lost funds. The project said it is investigating.
Funding Roundup: Stablecoins and AI Attract Capital
Stablecoin payment infrastructure Velocity raised $38 million in Series A funding led by Dragonfly, with participation from Coinbase, Capital One Ventures, and Wintermute. The company, founded in 2025, serves businesses and financial institutions in the U.S., parts of Europe, and Australia, with plans to expand into Africa and Latin America.
Stablecoin cross-border banking platform Flex secured $70 million in Series B1 funding led by Halo Fund. The funds will support Flex Global, which helps mid-sized companies use stablecoins for global payments. According to Forbes, annual stablecoin payment volume has reached approximately $390 billion, with business-to-business transactions growing 733% year-over-year.
Open-source AI company Nous Research closed at least $75 million in funding at a $1.5 billion valuation, led by Robot Ventures with Union Square Ventures participating. Its Hermes AI agent has 214,000 GitHub stars and nearly 40,000 forks, supporting local deployment and autonomous tasks like web search and code generation.
AI drone company Brinc, backed by OpenAI's Sam Altman, raised $125 million in a round led by Motorola Solutions, with Index Ventures and Dylan Field also investing. The company focuses on using AI drones for public safety, replacing some high-risk human response tasks.