唐华斑竹

Jia Yueting and his Faraday Future are staging yet another new drama.
At the end of July, he just merged scattered shares to push up the stock price. In less than ten days, he turned around and quietly issued more than half as new shares behind the scenes.
What does this mean? Overnight, the value of every small shareholder’s holdings was diluted by one-third.
Most importantly, at the time, this information was kept airtight.
In the market, “good news” spread first. The stock price suddenly surged with a 22% green giant candle. Tens of millions of dollars rushed in like crazy. Everyone speculated whether a major piece of good news was about to arrive.
No one knew that the frenzied trading volumes were actually those “newly minted” shares, already switching hands at high levels.
By the time the interim report was released, the truth finally came to light.
A bucket of cold water was poured straight over everyone’s heads. On August 14, the stock price collapsed instantly, down 16%.
But a strange scene unfolded.
The stock price crashed, yet the company’s market value still went up. Why? Because the total number of shares had increased. Like a bowl of porridge—the porridge is still the same porridge, but an extra one-third of sand was forced into it.
The whole operation, from the share consolidation to the quiet issuance, and then selling at high levels by exploiting the information gap, was done in one smooth sequence. It left the market with almost no time to react.
This isn’t “selling a dream” anymore. It’s as if the flour on shareholders’ tables was simply taken away.
So is this truly a necessary measure for the company to survive, or a precise harvest of the last people still willing to trust it? $FF

Cryptocurrency has been abandoned by capital
Glassnode: Funds are flowing to stocks and AI and other assets, BTC is not getting attention
Glassnode said in a post on the X platform that while the stock market continues to set new highs, consumer confidence has recently fallen to a historical low. Weak sentiment is driving money from cash into assets such as stocks, AI, and commodities. By contrast, BTC has clearly been overlooked in this round of fund rotation. $BTC

CZ: Hidden tokens are a valuable wallet feature; Trust Wallet may optimize the entry point
CZ said in a post on the X platform that his previous judgment was wrong. Many users report that hidden tokens are a very useful wallet feature. Trust Wallet already has this feature, but the operation entry is rather well-hidden—you need to tap through it 5 times to find it. CZ expects that the Trust Wallet team may optimize this feature soon.

Previously, when CZ responded about destroying Meme coins, he said that when testing @TrustWallet, he found too many meme coins in the wallet—so many that even BNB was hard to find, so he tried to destroy some tokens. As a result, even this action sparked a lot of discussion in the community.$AAPLB

I don’t know whether this superhero needs a remote control.
Unitree Technology releases “Superman,” breaking the limits of all humankind
Unitree Technology released a 30-second video of “Superman.” This humanoid robot can jump 2 meters in place and reach a maximum speed of 12.66 m/s (0.85-meter leg length), surpassing the world’s human records for standing jumps and running speed. Unitree Technology says the entire new system was developed in just over three months, and there will be significant room for improvement in the coming months. $NVDAB

In front there’s Trezor, and behind there’s Safepal—what happened to hardware wallets? Why don’t I recommend hardware wallets for small retail investors, but instead prefer keeping funds on the largest exchanges?

Now it seems hardware wallets also have quite a few fatal drawbacks:

1. You forget your password—if you exceed the allowed number of attempts, you’ll be permanently locked or even formatted

Online I saw someone say that when a person enters the wrong password on a few Ledger hardware wallets more than three times, the device is reset; the private keys in the hardware wallet have already been wiped, so there’s no way to recover them anymore.

Basically all hardware wallets will clear the private key once the number of password entry attempts exceeds a certain critical value. Ledger is 3 times, Trezor is 16 times, and other hardware wallets have their own thresholds. Remember: after Ledger’s first incorrect password entry, don’t try again. Only attempt again if you’re absolutely certain; Trezor can be tried a few more times.

iPhone is the same—after too many wrong password attempts, it gets permanently locked, which makes large amounts of ETH and BTC on the phone unusable. We’ve seen many such cases, and the BTC and ETH amounts involved were very frightening.

I hope everyone won’t make the same mistake again!

2. Losing the hardware wallet

Everyone has lost a phone; what’s more, it’s just like a USB drive that hasn’t been used for a long time.

3. Damage or a faulty upgrade causing it to become a “brick”

Even iPhones can become “bricked,” and it’s even more common if the phone falls into water. Going out and having a house fire, or getting the device flooded—anything can happen.

4. Hacking or theft

In the past, people thought offline cold wallets were absolutely impossible to be stolen. But now it’s not that surprising anymore.

So, it’s true that hardware wallets have a high security level. But I think they’re more suitable for big players or institutions that have security assurance and maintenance teams. For ordinary individuals, I think it’s still better to keep funds on a major exchange. Even if there’s a theft, at least you can complain to customer service and pressure the exchange to compensate—if they don’t, you can ask KOLs to post and create pressure until they do. But if you keep it in your own hardware wallet, once it’s lost, it’s lost—you really have no way to do anything. $SOL

Bitcoin has been sidelined
Consumer confidence hits its lowest level in history, while the stock market reaches a record high—Bitcoin has not participated in the capital rotation
According to Glassnode analysis, consumer confidence has fallen to its lowest level ever. Despite the stock market being at historical highs, Bitcoin has not participated in the rotation of capital; funds have shifted to stocks, AI, and commodities. $BNB

Binance will adjust the minimum price movement for BEATUSDT and other five perpetual contracts
According to the official announcement, Binance Futures will adjust the tick size (minimum price movement) of USDⓈ-M perpetual contracts such as BEATUSDT, MOVRUSDT, LABUSDT, and OPUSDT on 2026-08-18 at 14:30 (Beijing Time). Specifically, BEATUSDT and MOVRUSDT will be adjusted from 0.001 to 0.0001, while LABUSDT and OPUSDT will be adjusted from 0.0001 to 0.00001. The adjustment does not affect existing orders. $BEAT

Binance will distribute dividends for Applied Materials (AMAT) and Microsoft (MSFT) via bStocks
According to the official announcement, Binance will distribute dividends for Applied Materials (AMAT) and Microsoft (MSFT) to users who hold AMATB or MSFTB balances through bStocks. After deducting applicable withholding tax, fees, costs, and other expenses, the net cash dividends will be reinvested as additional units or fractional shares of the same underlying securities.

On the snapshot time 2026-08-20 08:00 (UTC+8), users holding AMATB or MSFTB will receive the dividends in the form of AMATB or MSFTB bStocks tokenized stock. $MSFTB

Meme coin “Bull comes” market cap has broken through 46 million USD, but it has nothing to do with most people at all. The crypto market is getting more and more bearish—it's been a few years already. Aside from occasionally talking about memes, there’s basically nothing good to discuss in the crypto space.

But when it comes to playing memes, the most important thing isn’t betting right—it’s being able to afford the risk and being able to take the loss. Most people can’t afford to lose, so it’s still better not to obsess over the next CA. Instead, be more practical: think about how to keep from losing money, and how to consistently earn 100U every day with the lowest risk possible. Maybe that’s more valuable for life.

If you can make 100U every day, that’s roughly 700 RMB. After a month, that’s over 20,000 RMB in income—basically equivalent to a pretty decent job. You can maintain a modest middle-class household, and it’s also easier to explain to your family. That’s 240,000 RMB in income per year, which is still very good. $BNB

Finally I understand why many units value the first educational background so highly!
For example:
1. Jia Qianqian’s first education was a junior college; in the end, a doctorate was almost within reach, and the PhD supervisor was his father.
2. Han Hong’s first education was primary school (she dropped out in the second year of junior high). In the end, she obtained a graduate degree from the PLA Arts College, and her supervisor was Li Shuangjiang. $SOL

23-hour trading! US stocks become a “global unified gambling hall”

The United States has once again made history. The U.S. has finalized new trading rules. Starting now, Nasdaq will trade for 23 hours every day. Aside from one hour each day for system maintenance, all the rest of the time is for trading. The market will operate 5 days per week—from Sunday night at 9:00 p.m. to Friday night at 8:00 p.m. You can trade to your heart’s content.

The new rules take effect on December 6. That means by the end of this year, we won’t have to stay up late watching U.S. stocks. Going forward, during the day we’ll trade U.S. stocks in the East, and at night in the West—money truly never sleeps.

Why is the U.S. doing round-the-clock trading at this moment? The most direct reason is simple: they’re eyeing our money.

With A-shares seeing daily trading volumes of two to three trillion yuan, and Hong Kong, Japan/Korea, and even India all reaching unprecedented levels of activity—so much money is moving. But U.S. stocks aren’t open for trading. The U.S. must be losing sleep, thinking: what a waste! They’re saying, no matter what, they have to get a piece of the pie.

The U.S. SEC estimates that extending trading hours would boost the average daily trading volume of U.S. stocks by 20%, attracting an additional inflow of foreign capital at the scale of one trillion dollars. Put plainly: “I’m looking at your money. I want to pull all your money into my venue and turn your existing funds into my incremental funds.”

The U.S. isn’t doing charity. If they open the market so global capital can all go over and make money, it’s not that simple. U.S. stocks’ total market value makes up two-thirds of the world’s total market value, and foreign investors hold U.S. stocks worth $1.7 trillion. It’s like in U.S. history: immigrants created the prosperity of the United States. And now, capital migration is also creating the prosperity of U.S. stocks. Nasdaq has risen for four consecutive years. The “seven tech giants”—just these seven companies—have a combined market value of about $2.2 trillion, which is more than all A-share companies combined.

With companies of this scale, sustaining the upward trend requires huge amounts of incremental capital. And after U.S. stocks open all day, the very first job of the incremental capital is to absorb the liquidity of tech stocks. On the surface, the U.S. is making it convenient for global investors. In reality, it’s about siphoning liquidity from other markets—adding fuel to the fire for artificial intelligence. $SOL

Prices don’t go up—constant nonsense upgrades all day.
Ethereum’s next upgrade “Hegotá” is entering the planning phase, with 66 EIPs vying for the 2027 hard fork
Ethereum developer Toni Wahrstätter posted on X that Ethereum’s core developers are planning the next annual upgrade, “Hegotá.” At present, 66 Ethereum improvement proposals (EIPs) have entered the candidate list. Several upcoming core developer meetings will screen these proposals, ultimately determining the upgrade content that can be completed and implemented, with devnet testing, testnet deployment, and the potential to go live in 2027. Proposals that are not included in Hegotá will be pushed to the next hard fork. Therefore, the current selection process has a major impact on Ethereum’s future development direction.

So far, FOCIL (Fork-Choice Enforced Inclusion Lists) has been confirmed as one of the key upgrade items for Hegotá. Developers believe that, when combined with framework transactions (EIP-8141), key-based Nonce (EIP-8250), and root references (EIP-8272), it will help build native privacy capabilities—allowing privacy applications to run without relying on third-party intermediaries.

In addition, improving scalability is also an important focus for Hegotá. Developers suggest that by repricing data resources (EIP-8131, EIP-8279) and increasing state growth costs (EIP-8368), Ethereum can prepare for a future further increase of the Gas limit to 600 million. Although these improvements are not as immediately intuitive as the privacy features, they are considered critical work for pushing Ethereum’s scaling in the near term.

Other candidate upgrades include shorter block times (EIP-8198), adjustments to the issuance mechanism (EIP-8363), anti-correlated penalty mechanisms (EIP-7716), EVM optimizations and simplifications, as well as early discussions of EIPs related to zkEVM and post-quantum cryptography.

It is reported that Hegotá cannot include all features expected by the community. The core team will need to make trade-offs between the “future vision” and “near-term deliverable upgrades.” As a result, most candidate EIPs may ultimately not make it into this upgrade.

Currently, 256 days have passed since the start of the ongoing Glamsterdam upgrade. The goal is to complete deployment by the end of this year. Hegotá is planned to go live in 2027. In the coming months, core developers and the community will hold discussions around the priority of various EIPs.$ETH

SK Hynix leverage ETF traps at high levels are hard to get back to even: losses exceed 76% on average; breakeven requires a rise of over 300%
Although SK Hynix and Samsung Electronics’ share prices have recently rebounded, investors who bought near the late-June peak are still facing major losses. According to data from the Korean Exchange, for investors who bought at the June 25 peak, the declines for seven SK Hynix leveraged ETFs ranged from -75.98% to -76.75%, with an average loss of 76.51%. For Samsung Electronics, the seven single-stock leveraged ETFs’ day-of cumulative returns ranged from -51.64% to -52.76%, with an average loss of 52.25%. If investors had put in 1 million won each at the time, the SK Hynix leveraged ETFs would now be worth only about 235,000 won; while Samsung Electronics leveraged ETFs would be worth only about 478,000 won.

Because leveraged ETFs have nonlinear return characteristics, getting back to the original principal after losses is far more difficult than the drop alone suggests. Data shows that Samsung Electronics leveraged ETFs need to rise by about 109.4% to recover the principal, while SK Hynix leveraged ETFs need to rise by about 325.7%. In other words, a 50% loss requires a 100% gain to breakeven, while a 75% loss requires a 300% gain.

Analysts note that single-stock leveraged ETFs typically track 2 times the underlying asset’s daily return, not simply the corresponding stock price increase. Since the leverage ratio is recalculated every day, ongoing volatility creates “volatility drag,” meaning that even if the underlying share price returns to a prior level, ETF investors may not necessarily be able to fully recover their principal. $SOL

The era of unlicensed crypto platforms growing wildly has ended. It’s likely that a large number of exchanges will go under again. After the EU MiCA regulations fully take effect on July 1, more than 1,700 unlicensed crypto platforms have been ordered to stop providing services and to redirect users to licensed platforms. Currently, only 323 companies hold valid licenses. About 10 million users need to migrate their assets.

If you’ve only got small amounts of money, move your funds to the top platforms or on-chain as soon as possible. Before you transfer, remember to check the big platforms’ announcements. Yesterday I saw that Binance already issued an announcement saying it will stop processing transactions involving 16 crypto platforms. The restrictions will take effect in three batches on August 7, August 13, and August 23. Users may not directly or indirectly send or receive assets with the relevant entities after the corresponding dates. If your current exchange is on the shutdown list, don’t transfer around randomly—be careful that your funds might get frozen after you move them, which would be a real headache.

One more reminder: many scammers are taking advantage of this to impersonate regulators and licensed exchanges, sending fake migration notices to trick users into transferring their assets to forged platforms. The French financial markets regulator (AMF) said that scammers disguised themselves as its employees to obtain funds by charging “management fees.” The European Securities and Markets Authority (ESMA) confirmed that its identity and markings were being misused. The Dutch financial markets regulator (AFM) warned that the migration of unlicensed exchanges itself has become an attack vector. It recommends that users verify service providers through ESMA’s official register and be wary of any behavior where someone proactively contacts you and asks you to transfer funds.$SOL

The era of unlicensed exchanges growing wildly is over—more exchanges are likely to go under again. If you have all your money in a small exchange, move it to Binance as soon as possible.
After the EU’s MiCA comes into effect on July 1, more than 1,700 unlicensed crypto platforms have been ordered to stop operating and to direct users to licensed platforms; currently, only 323 companies hold valid authorization. About 10 million users need to migrate their assets. Scammers take advantage by posing as regulators and licensed exchanges to send fake migration notices, luring users into transferring their assets to forged platforms. The French Financial Markets Regulator says the scammers disguise themselves as its employees and骗取 funds under the guise of charging “management fees”; the European Securities and Markets Authority confirms that their identity and logos were abused. The Dutch Financial Markets Regulator warns that the very act of migrating from unlicensed exchanges has become an attack vector. It advises users to verify service providers via the official register of the European Securities and Markets Authority, and to be wary of any actions that involve being contacted proactively and asked to transfer money. (CoinDesk) $BNB

Now the most worrying thing about hardware wallets is this. For small retail investors, it’s better to keep your coins on Binance—at least if you lose them, you can argue with customer support.
CZ released a SafePal security incident alert: beware of phishing attacks, YZi Labs is one of its minority shareholders
CZ posted on X a SafePal security incident reminder, urging the community to be on guard against phishing attacks, while also disclosing that SafePal is one of the investment portfolio companies of YZi Labs (formerly Binance Labs). YZi Labs is currently also a minority shareholder of SafePal. $BNB

Honestly, it’s still safer to use Binance.
About 1,700 BTC was stolen by the top 10 Coldcard attack groups. The largest group stole over 1,080 BTC.
According to monitoring by Bitcoin News, Galaxy Research’s analysis identified that the various groups carrying out attacks used seeds on COLDCARD devices with weaker security. The groups have different characteristics. Just the 10 largest groups collectively transferred about 1,700 BTC, with the largest group transferring over 1,080 BTC. Researchers distinguished between the attackers based on patterns such as fee strategies, transaction times, aggregation methods, and where the stolen bitcoins were sent. Multiple of the largest groups are still suspected of holding nearly all of the stolen BTC. Victims of COLDCARD attacks can contact @intangiblecoins to help collect evidence and reach out to the relevant authorities. $SOL