Ministry of Commerce of China: China and the United States are currently soliciting opinions on tariff reduction arrangements and will promote their implementation as soon as possible.

According to Bloomberg, people with knowledge of the matter have disclosed that Galaxy Digital Inc. plans to launch its inaugural high-yield bond offering worth approximately $3.5 billion to fund data center projects tied to CoreWeave Inc. This development signals that financing for artificial intelligence infrastructure is further pushing the U.S. credit market into higher-risk segments. The sources noted Galaxy Digital is marketing the bond to investors at a yield of roughly 9%. Morgan Stanley and Goldman Sachs are acting as underwriters for the issuance, with pricing expected to be finalized on Thursday. Since the relevant details have not yet been made public, the sources spoke on condition of anonymity.

According to market data from BIT (bit.com), Tesla (TSLA.O) fell nearly 5% in pre-market trading as its quarterly profit missed expectations and free cash flow turned negative for the first time in over two years.

According to market data from BIT (bit.com), Alphabet (GOOG.O) dropped over 3% in pre-market trading after the company announced its Q2 results and raised its fiscal year capital expenditure forecast.

According to a report from Securities Times, Meng Huating, Director of the Foreign Investment Administration Department of China's Ministry of Commerce, stated at a press conference that in the second half of the year, China will continue to focus on the goal of stabilizing and improving the quality of foreign capital utilization, further shaping new advantages for attracting foreign investment, and advancing key tasks including expanding new increments, stabilizing existing stock, and enhancing quality. Regarding expanding new increments, China will continue to pursue high-level opening-up, steadily and orderly deepen opening-up pilot programs in sectors such as value-added telecommunications, biotechnology, wholly foreign-owned hospitals, and vocational skill training institutions, support Beijing in upgrading its national comprehensive service industry demonstration zone, and accelerate the revision and release of regulations on foreign investors' mergers and acquisitions of domestic enterprises.

US Secretary of State Rubio said Iran does not appear ready to strike a deal, and will pay a cost that grows each night until it comes to its senses. He also expressed hope that the Houthi forces will cease their attacks, noting that the Houthis have been misled by Iran. (Jinshi)

According to Techinasia, Hassan Ahmed, Coinbase’s Singapore head, stated that the company plans to increase its Singapore headcount from around 150 currently to roughly 200 by the end of 2026. Future hiring will focus on roles in engineering, customer service, customer relationship management, and institutional sales. On the same day, Coinbase officially launched its new Singapore office at One Raffles Quay. Ahmed noted that Singapore is “one of the world’s most trusted financial centers and also one of Coinbase’s fastest-growing international markets.” He added: “The new office reflects our long-term confidence in Singapore as a hub for innovation, talent, and responsible growth strategy in the Asia-Pacific region. It will also help us collaborate more closely with local regulators, continue investing in talent, and further expand our partnerships.”