On June 24, The New York Times reported that Zuckerberg has instructed Meta to develop a prediction market application. The internal name for the application is 'Arena', which is similar to Polymarket or Kalshi.
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Zuckerberg Directs Meta to Develop Prediction Market Application
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U.S. Senate Passes Resolution Aiming to Limit Trump's War Powers Against Iran
On June 24, the U.S. Senate passed a resolution regarding war powers related to Iran, with 50 votes in favor and 48 against, following a similar approval by the House of Representatives. This marks the first time such a resolution has been approved by both chambers of Congress. The resolution calls for the president to end military actions against Iran without a declaration of war or authorization of force from Congress. However, since this resolution is a joint resolution of Congress, it is not legally binding and does not require the president's signature, thus serving mainly a symbolic purpose. -
AI Smart Terminals Experience Full Explosion
On June 23, according to CCTV Finance, at the fourth Chain Expo, the original "Digital Technology Chain" was upgraded to the "Smart Technology Chain." This change in wording reflects that artificial intelligence is becoming the main character in the industrial chain. A newly established AI zone at the event gathered leading AI companies from both domestic and international markets, showcasing the entire chain from data and computing power to applications. Various AI products were on display, including AI glasses, smart cars with digital chassis, and humanoid robots that can play soccer. CCTV Finance reporters observed that the integration of artificial intelligence into the physical world is transitioning from mobile phones and computers to various new smart terminals. This year, the application of AI agents has also experienced a full explosion. Qian Kun, Senior Vice President of Qualcomm, stated that the empowerment of AI agents is leading to a significant upgrade cycle for existing terminal devices. China's industrial chain is very complete, and through continuous collaboration with Chinese partners, their products can quickly reach the market and gain global acceptance. Liu Xiangwen, Vice President of Alibaba Cloud Intelligence Group, noted that AI has evolved from mere chatting to becoming a productive force. The development of all stacks, whether GPU cloud or CPU, is progressing rapidly, and there is still greater potential ahead. -
U.S. Stock Indices Experience Short-Term Rally
On June 23, the Dow Jones Industrial Average rose by 0.07%; the S&P 500 index narrowed its decline to 0.77%, having previously fallen over 1.5%; the Nasdaq Composite index also reduced its drop to 1.17%, after having been down more than 2.3% at one point. -
Vitalik: Ethereum Foundation Budget Cut by 40%, Shifting to Long-term Fund Model
On June 23, Vitalik Buterin revealed that the Ethereum Foundation (EF) will reduce its budget by approximately 40% this year. According to its previously announced financial management plan, EF is transitioning from a model where it spends about 15% of its remaining funds annually to a model where it will spend about 5% annually after 2030, moving towards a long-term donation-oriented organization. To this end, EF will adjust its multi-client model, relying more on AI-assisted formal verification. The PSE privacy and scalability exploration team will shift from 'exploration' to a focus on building around zero-knowledge proofs. The scale and losses of Devcon events will be reduced, and large projects beyond Ethereum itself will also decrease. EF's institutional work will focus on smaller-scale, replicable CROPS-friendly deployment cases. -
Huo Qigang: In the AI Era, Our Own Judgment is Key
On June 23, according to CCTV Finance, Huo Qigang stated that over the past year, the topic of AI has been overwhelming, shifting from 'not using AI' to 'having to use AI,' making him acutely aware that 'not participating will lead to elimination.' As a father, Huo Qigang candidly expressed the dilemma of whether parents should 'control' or 'assist' when their children use AI. He mentioned that he has already begun to assist with AI in his work, but emphasized that using AI does not mean bypassing the thinking process; one must rely on their own experience, thought, and logical judgment, and cannot simply replicate AI outputs. -
NVIDIA's Market Value Falls Below $500 Billion
On June 23, NVIDIA (NVDA.O) saw its market value drop below $500 billion, with a latest decline of 2.6%. -
U.S. Manufacturing Activity Surges Beyond Expectations, But Factory Employment Falls to Six-Year Low
Driven by companies placing orders in advance to prevent shortages and price increases, U.S. manufacturing activity expanded again in June. However, factory employment fell to a six-year low, primarily due to rising operational costs influenced by conflicts in the Middle East. The preliminary S&P Global Manufacturing PMI for June rose to 55.7 from 55.1 in May, marking the highest level since May 2022, while economists surveyed by Reuters had previously expected the index to drop to 54.8. The increase in the manufacturing PMI, combined with a rise in the services PMI from 50.7 in May to 51.3, contributed to a composite PMI output index increase from 51.5 last month to 52.2. The rebound in the services PMI is partially attributed to the World Cup events jointly hosted by the U.S., Canada, and Mexico. -
Microsoft Completes Data Center Construction in Wisconsin
Microsoft (MSFT.O) announced the completion of its first data center construction in Mount Pleasant, Wisconsin, USA. -
Goldman Sachs: Brazilian Central Bank Expected to Alternate Between Rate Cuts and Holding Steady
On June 23, Goldman Sachs' Alberto Ramos stated that the Brazilian Central Bank may alternate between pausing rate cuts and lowering its benchmark Selic rate. Last week, the Brazilian Central Bank reduced the Selic rate from 14.5% to 14.25%, and its next steps remain unclear. Amid sticky inflation and risks of economic slowdown, the meeting minutes provided some insight into the central bank's thinking. Ramos noted that intermittent rate cuts 'will lead to milder output fluctuations, with inflation converging to target levels by the first quarter of 2028.' He added, 'Overall, in the short-term trade-off between growth and inflation, Copom is more inclined to protect economic activity rather than adopt a more aggressive inflation-focused strategy.' -
U.S. Treasury Department: U.S. Issues Sanctions Related to Cuba
U.S. Treasury Department: The United States has issued sanctions related to Cuba.
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