AB Kuai Dong

I am very glad to meet CZ in Tokyo. This is his return to Japan after 7 years, and during this time, the entire industry has undergone tremendous changes.

At this event, I asked CZ a question: How do you view the on-chain of everything and the tokenization of stocks?

He replied: There have not yet been large-scale coin-stock products on the market. The possible reason is that each country and region has different policies, making it difficult for coin-stock investors to receive dividends and easily redeem stocks. There are also price differences during trading. However, projects on the chain are usually global in nature, which was a significant pain point back then.

Restrict areas or try to solve it?

But he reiterated that the trend of RWA cannot be stopped. $BNB

Due to the large amount of computing resources, companies have shifted to cheaper Chinese models.

The price of AI tokens has seen a historic crash. From OpenAI to Gemini, every vendor has been forced to join this price war.

After SpaceX released its financial report, the stock fell from $128 to $114, wiping out all of last night's gains.

Although revenue for Starlink, Star Shield, and the Big Rocket business came in above expectations, AI-related capital expenditures have continued to expand, and the company also admitted that capital spending will continue over the next two quarters.

But their financial reporting is just too good—it’s almost like a movie.

It’s fully blown up. Apple has officially gone to the federal court to file for a preliminary injunction, seeking to bar two former employees and the OpenAI company from using and disclosing Apple’s business secrets that were allegedly obtained unlawfully.

Previously, in addition to suing OpenAI, Apple also sued its former senior vice president, Tang Dan; a former Apple engineer, Liu Chang; and an Apple employee currently on the job, Peng Yuting.

The allegations claim that, through a range of methods, they obtained Apple’s internal confidential information and then provided it to OpenAI, to help OpenAI move into the consumer hardware market.

Some of these people even went directly to work for OpenAI.

The hearing is scheduled for October 1 this year. Both sides are expected to present more evidence and details beforehand.

Just earlier, DeepSeek boss Liang Wenfeng’s social account from his early days at 26 years old—every tweet and image shows as deleted.

But we can still see him through the friends who mutually followed him back then. Many of them are guys involved in trading, and one of them even follows Bitcoin.

Reconsider adding $36 billion in debt financing! Bloomberg reports that Anthropic, to train Claude, needs to lease a large number of Google AI chips and build data centers. Currently, Blackstone is helping it borrow at least $36 billion from investors.

Earlier, Blackstone and Apollo had already arranged a $35 billion debt financing for Anthropic. It’s expected that the two rounds combined could exceed $70 billion.

Golden range-bound movement: behind the $4,000 (gold) level, Chinese institutional investors are buying gold heavily on dips, recording continuous 14 trading days of net inflows.

Meanwhile, in order to avoid next year’s U.S. refined copper tariffs—and to bet on long-term construction demand generated by AI—large amounts of copper are being shipped to the United States. Just this year, the amount of copper metal that arrived in the U.S. in July alone reaches as much as 200,000 tons.

The guy who allegedly became the first person to use AI-generated fake news to hype up futures trading—this 29-year-old is incredibly impressive. The China Securities Regulatory Commission has issued a penalty decision, pointing to a netizen influencer who used AI to mass-produce 17 fake articles, spreading rumors that a caustic soda producer had stopped production due to an accident.

After the articles went viral, he bought caustic soda futures, earning RMB 85,000. The CSRC has now decided to confiscate the proceeds and impose a fine of 400,000 yuan.

The female protagonist who was spread rumors yesterday about having a relationship with Alibaba Chairman Joe Tsai has, after denying it last night, published a new statement today. She said she has reported the matter to the police and is collecting posts to protect her rights.

She said she has a boyfriend who is 4 years older than her, and that she has never been married.

As the company’s valuation reaches $96.5 billion, the plan is to push toward going public.

The CEO behind Claude, Anthropic, has previously expressed concerns—worrying that new talent joining the company might be in it for the money rather than for alignment with the company’s mission.

I looked over the timeline. DeepSeek’s boss, Liang Wenfeng, was still updating his social media accounts. The time he went to Tibet—was a low point or a period of exploration in his life.

At that time, he was renting a place in Chengdu. He built a self-developed quantitative strategy and a simple server cluster, then used 80,000 RMB in principal to trade on the secondary market. It wasn’t until a few years later that he got results, founded a company, and the origin of “Fangfang Quant” (幻方量化) came into being.

A netizen dug up the social media account operated by DeepSeek’s boss, Liang Wenfeng, in 2011. Back then he was 26, had only recently gotten into quantitative trading, and was still a guy who really liked photography, geography, and writing poetry.

Babylon, the Bitcoin public chain, has launched its public testnet. The first use case is a native Bitcoin collateralized lending collaboration with the lending platform Aave v4.

Participants do not need to wrap or bridge. They can use native Bitcoin as collateral to borrow dollar stablecoins such as USDC and USDT on Ethereum.

Currently, you can experience the full process via the testnet and submit your feedback in the feedback form.

From today’s perspective, this public testnet effectively provides a cross-chain callable collateral layer for native Bitcoin, enabling it to move into applications such as stablecoins, credit cards, derivatives, and insurance in the future.

What it truly addresses is not whether Bitcoin can be borrowed, but whether Bitcoin can participate in on-chain finance while minimizing sacrifices to its native characteristics and control.

Babylon says this solution combines four features: native Bitcoin collateral, DeFi borrowing interest rates, self-custody, and no need for trusted intermediaries.

And $BABY is Babylon Network’s native token.#Baby

Zhipu GLM 5.3 suspected early run: Within the first hour, many people managed to access the GLM 5.3 documentation page, and Microsoft Bing’s search page also indexed the new GLM 5.3.

At present, the relevant pages have been urgently updated.

Are we at the third step? A representative from South Korea’s second-largest political party files criminal charges with the Supreme Prosecutors’ Office, saying that they believe the Director of the Korean Policy Office, Kim Yong-bum, who allegedly instructed regulators to urgently approve the listing of individual-stock leveraged ETFs, is suspected of abusing his power, coercing others, and obstructing official duties.

The charges claim that, under his guidance and requests, these leveraged products were rushed and approved for listing, causing losses for many investors.

Musk shared a comparison image of how he used to work on AI versus how he works on AI now, mocking the current atmosphere in the AI industry. In the past, people had to tackle all kinds of deep mathematics and statistical proofs, with great emphasis on theories and processes.

But now, all it takes is to keep feeding data, piling up GPUs, making the model bigger—then as long as it works. If it doesn’t, it might still become the strongest model out there, and then you keep using the same approach to build an even bigger one.

So tragic—Bloomberg interviewed several Korean individual investors, including a 40-year-old man who mortgaged his own apartment, borrowed 50 million won to trade stocks, and after recording losses he publicly criticized the fact that the government approved these leveraged ETFs, which is essentially pouring gasoline on the fire and turning the stock market into a casino.

And another 40-year-old man—since everyone is trading stocks—decided to join in after the May peak this year, but in the end he announced that he’s done playing and won’t trade anymore.

Did everyone actually swarm to South Korea? South Korean government data released last week showed that as of 2025, foreign residents in South Korea account for 4.1% of the population, officially surpassing 2.1 million people, nearly half of whom are Chinese nationals.

As South Korea still maintains relatively low-threshold policies for obtaining a green card by depositing money, for ethnic Koreans from North Korea to apply for visas, and for the points-based system that allows a green card after three years, foreign residents are rising rapidly.