What Is JEET

On August 24, ZeroHedge reported insights from Almonty Industries CEO Lewis Black, stating that the global tungsten supply is facing a severe shortage. The demand for tungsten from the AI, semiconductor, and defense industries continues to grow, while China's dominant position in tungsten raw material supply further amplifies global supply chain risks. The U.S. strategic reserve had inquired about tungsten procurement this year, but due to tight spot supply, rising prices, and concerns that large-scale government purchases could disrupt the market, the initiative ultimately did not progress. Industry insiders indicate that the non-Chinese tungsten resources currently available to the West are limited, with a significant amount of supply already locked in. The supply risks in the semiconductor industry are also prominent. Tungsten hexafluoride (WF₆) is a crucial material used in the manufacturing process of advanced memory chips to form micro tungsten interconnects. Japanese companies Kanto Denka and Central Glass previously supplied about a quarter of the world's WF₆, but have ceased production since July 1 due to an inability to obtain the high-purity tungsten powder needed for production. The relevant raw materials mainly come from China, which is tightening tungsten-related exports starting in 2025. Currently, Samsung and SK Hynix are accelerating their search for and certification of new WF₆ suppliers, with the market expecting WF₆ prices to potentially rise by 70% to 90% in the second half of the year. Meanwhile, a Chinese company has announced plans to add 1,000 tons of WF₆ production capacity annually. The tungsten supply tightness is also spreading to the hard alloy and tool industries in Japan and Europe and the U.S. The price of APT (ammonium paratungstate) in the Western market remains above $3,000/ton (mtu WO₃), and some companies are experiencing raw material shortages. Industry experts believe that tungsten demand has low price elasticity in the short to medium term; even if prices rise, downstream manufacturing sectors such as automotive and aerospace will still find it difficult to reduce procurement. The report highlights that tungsten is not only used in defense and semiconductors; approximately 60% of U.S. tungsten demand and about two-thirds of global tungsten demand are for hard alloys, including industrial products like cutting tools and drill bits. As AI, defense, and advanced manufacturing industries expand, the importance of the global tungsten supply chain is further increasing.

On August 24, according to monitoring by Lookonchain, Arthur Hayes repurchased 1.9 million ETHFI at a unit price of $0.62, totaling approximately $1.17 million, four hours ago. Four months ago, Arthur Hayes sold 265,461 ETHFI at a loss for $0.44 each, amounting to approximately $118,000.

On August 24, The New York Times reported on August 23 that the Polish cryptocurrency exchange Zondacrypto is in serious crisis, with its founder Sylwester Suszek missing since 2022 and currently untraceable. The lawyer Przemyslaw Kral, who succeeded him as CEO, also disappeared in April this year and has not been seen publicly for four months. Zondacrypto, originally BitBay, was established in Poland in 2014 and later relocated its registration to Estonia, claiming to have around 1.3 million customers and assets worth hundreds of millions of dollars. In April this year, the Zondacrypto website suddenly shut down, leaving hundreds of thousands of customers unable to withdraw or trade, and the price of its issued ZND token has plummeted by over 99.9%. On June 29, the Estonian Financial Intelligence Unit revoked the operating license of its parent company. Before his disappearance, Kral informed customers that Zondacrypto held approximately 4,500 BTC, valued at over $330 million, but these assets require time to unlock as only the missing former CEO Suszek possesses the relevant private keys. Industry insiders have questioned this claim, noting that the wallet Kral referred to has been inactive for nearly a decade. Suszek went missing in 2022 at a gas station in southern Poland, after sending voice messages and texts to his sister claiming he had been kidnapped and demanding a BTC ransom. The Polish prosecutor subsequently charged his business partner Marian Wszolek with involvement in organized crime, VAT fraud, money laundering, and illegal deprivation of Suszek's personal freedom; Wszolek has also since disappeared. Suszek remains unfound. Reports indicate that Zondacrypto has sponsored several football clubs in Poland, Italy, and Estonia, as well as the Polish Olympic Committee in recent years, but auditors have previously raised doubts about the authenticity of its assets. Customers have been reporting withdrawal delays since December last year, and in April this year, the platform ultimately froze all withdrawals. The Katowice prosecutor's office in Poland has launched an investigation into the establishment and operations of Zondacrypto. Polish politicians and media are also investigating whether the exchange collapsed due to risks in the cryptocurrency market or if it was involved in criminal activities such as money laundering from the start.