TL;DR

BlackRock halts Ukraine fund; Robinhood tokenizes EU stocks; Foxconn posts record AI-driven revenue.

Highlights

• • BlackRock suspended its $15B Ukraine recovery fund due to waning investor interest and U.S. policy uncertainty post-Trump election 1.
• Robinhood launched 213 tokenized stocks and ETFs on Arbitrum for EU users, enabling 24/7 blockchain trading; Galaxy Digital warns of disruption to NYSE revenue 2.
• Foxconn reported record Q2 revenue (up 15.8% YoY) on strong AI server and iPhone demand; warns on geopolitical and currency risks 5.
• South Korea approved a $23.3B supplementary budget focused on consumption, EV subsidies, and childcare to offset U.S. tariff headwinds 8.
• Trump signed tariff ultimatum letters for 12 nations (up to 70% rates), with new levies possible August 1 10.
• Japan and U.S. are in urgent talks to avert a 24% reciprocal tariff as July 9 deadline nears 11.
• EU plans emergency stockpiles of critical minerals and strategic goods amid rising geopolitical and climate risks 9.
• Tom Lee expects Goldman Sachs and JPMorgan to buy ether to anchor future bank-issued stablecoins, signaling institutional blockchain adoption 13.
• Gene therapy restored hearing in children and adults by flipping a Vitamin A genetic switch; first infant treated, patent pending 4.
• SpaceX deployed Starlink Minis to all Kerr County, Texas, first responder vehicles to restore communications during catastrophic flooding 3.
• Turkey opened an antitrust probe into Spotify over alleged market distortion and “provocative” playlists 6.
• Merlin opened a $550M Legoland Resort in Shanghai, expanding into China’s family-entertainment sector 15.

Commentary

BlackRock ’s suspension of the Ukraine recovery fund is a clear signal that cross-border capital formation in high-risk regions is highly sensitive to U.S. political shifts 1. The lack of U.S. government backing, combined with post-election uncertainty, has effectively stalled institutional investor appetite. This will likely delay or reduce near-term private capital flows into Ukraine’s reconstruction, narrowing opportunities for VCs in infrastructure and related sectors dependent on Western alignment 1.

Robinhood ’s launch of tokenized equities and ETFs on Arbitrum for EU users is a significant infrastructure development, with potential to divert trading volume from traditional exchanges 2. The move, coupled with Galaxy Digital’s warning about NYSE disruption and Tom Lee’s expectation of major banks acquiring ether for stablecoin issuance, highlights accelerating institutional interest in blockchain-based financial infrastructure 213. VCs should monitor regulatory responses and opportunities in compliance, custody, and digital asset infrastructure as traditional and decentralized finance converge.

Foxconn ’s record quarter, driven by AI server demand, reinforces continued momentum in AI hardware and supply chain digitization, though the company’s caution on geopolitical and currency risks is relevant given the escalation of U.S. tariffs 510. South Korea’s supplementary budget and the EU’s strategic stockpiling point to increasing government intervention in industrial policy, critical minerals, and EVs—areas where VC-backed startups may benefit from new demand but also face more protectionist environments 89.

Elsewhere, gene therapy’s progress in restoring hearing 4, SpaceX ’s rapid Starlink deployment in disaster response 3, and Merlin’s Legoland expansion in China each reflect sector-specific innovation and growth 15. However, regulatory risk remains salient, as seen in Turkey’s antitrust probe into Spotify 6. VCs should continue to price in higher compliance and geopolitical risk, especially for consumer tech and cross-border business models.