📰 Top Headlines
• South Korea’s Financial Intelligence Unit announced that it will block the websites of 27 unregistered crypto trading platforms. Domains of overseas platforms will be restricted, while domestic platforms face service termination. Regulatory coverage is expanding from apps, as before, to websites.
• Sberbank, Russia’s largest bank, has been approved to offer crypto trading and custody services, officially entering the regulated framework. The list of crypto trading service providers has expanded to nine institutions.
• S&P completed its first on-chain derivatives swap transaction on the Canton blockchain, with Marex and DRW as participants—another step forward in bringing traditional financial infrastructure on-chain.

📊 Market Data
• The BlockBeats Market Pulse Index shows that multiple indicators, including Bitcoin and Ethereum liquidity, remain at Hold. The altcoin resilience index is cautious, near-term directional catalysts are weak, and sentiment is neutral.
• A BlackRock ETF wallet transferred approximately $203 million in BTC and ETH to Coinbase Prime, including 860 BTC and 52,500 ETH, in what appears to be a potential position adjustment.
• U.S.-listed crypto stocks were mixed in premarket trading: COIN rose 0.86%, MSTR gained 1.23%, and GEMI rose more than 2%, as market sentiment improved slightly.

🤖 AI Hot Topics
• Moonshot AI (Kimi)’s Hong Kong IPO underwriting roster has shifted again, with Bank of America withdrawing as a potential underwriter. Goldman Sachs is now the sole U.S. sponsor. The company’s valuation has risen to around $50 billion, and it could list as early as Q1 2027.
• OpenCode 2.0, an open-source AI coding tool, has launched. Code Mode can convert MCP and OpenAPI into functions, allowing agents to orchestrate multiple tools. Sub-agents and Shell support parallel background execution.