Weekly丨Korean stock market volatility outpaces Bitcoin, CLARITY Act showdown, BitMEX announces closure leading to a 95% plunge in BMEX

PANews Editor’s Note: PANews has curated the best high-quality content from the past week to help everyone use the weekend to fill in gaps—click the title to read.

Products born under the AI craze

An attack without hackers: AI “cheated” to hack Hugging Face

OpenAI’s AI model “stole answers” to score high in safety tests, infiltrating Hugging Face infrastructure, revealing a new paradigm of autonomous AI attacks.

Is AI starting to launch autonomous attacks on the AI ecosystem? The Hugging Face incident reveals new challenges for agent security

AI Agent-driven security incidents left over 17,000 logs, and traditional cybersecurity defense systems face entirely new challenges in the age of agents.

Kimi K3 released a week of everyone’s stories: consensus, divergence, and the bigger trend

10 developers tested Kimi K3 in practice: strengths in visual coding and frontend capabilities, but gaps remain in response speed and instruction-following—competition among domestic large models is heating up.

How electricity, talent, and capital left by the crypto cycle systematically nourished the AI industry?

Bitcoin mining firms pivot to AI data centers; companies like CoreWeave completed a spectacular turnaround—Crypto infrastructure is systematically empowering the AI industry.

AI has no pricing power in the model: the enemy of model companies is not another stronger LLM

The business model of pure-play model companies is fragile—true pricing power is not in model performance, but at the “cashier”—the distribution layer is the key to value capture.

Macro insights

From an “AI bull market” to “leverage-driven turbulence”: why South Korea’s stock market is crazier than Bitcoin

The AI boom put Samsung and SK hynix in the spotlight. South Korea’s KOSPI volatility briefly exceeded Bitcoin—an in-depth look at how AI chips and leveraged ETFs amplify market swings.

S&P Dow Jones partners with Pantera to launch a crypto index; Bitcoin is left out for being “not profitable”

The new index filters based on protocol revenue, including 18 tokens such as ETH, BNB, and SOL, while excluding Bitcoin and meme coins—sparking heated market discussion.

Former CFTC chair, Circle CEO Tarbert: advising you to be a long-term person, while cashing out $30 million

Tarbert switches between identities across regulation and financial enterprises, realizing gains at the right time—while the investors who believe in his public narrative bear the long-term risks.

IOSG: A panoramic analysis of Robinhood’s self-built L2—from meme cold start to RWA rollout

Robinhood launches its own L2 chain, moving from tenant to landlord; tokenized stocks, meme coins, and AI agents take off together—can the RWA ecosystem break out of its niche?

Institutional players and celebrities’ ideas

Liang Wenfeng’s four-hour investor meeting transcript

DeepSeek founder Liang Wenfeng: 52 remarks revealed—open-sourcing to share benefits, focusing on AGI, not pursuing user growth; the AI gap between China and the U.S. lies in resources, not talent.

Investment titan Bill Ackman: sells Alphabet to add to Microsoft, betting on AI infrastructure

Bill Ackman exits Alphabet and shifts to Microsoft, bullish on AI infrastructure, while criticizing day trading options as gambling—saying Bitcoin and gold are speculation.

Bitwise’s scenario for the next bull run: a full integration of on-chain finance; Hyperliquid and Robinhood are key barometers

Bitwise believes the real bull market will be driven by usefulness and returns. As on-chain finance integration accelerates, Hyperliquid and Robinhood will become key indicators to watch.

a16z partner: it’s time for the “CLARITY Act”

The GENIUS Act will cause the stablecoin market to surge by 50% in half a year, attracting $13 billion in investment. Can the CLARITY Act fill the regulatory gap for blockchain networks and determine the future of the U.S. financial infrastructure?

Michael Saylor: 110 reasons to oppose BIP-110

BIP 110 sparked intense controversy in the Bitcoin community. Michael Saylor lists 110 reasons to oppose the proposal, arguing that it harms neutrality and the consensus mechanism.

Seizing early opportunities

15 Launchpads compete in the Robinhood Chain launchpad battle; Pons narrowly rallies to top NOXA

Robinhood Chain attracted 15 Launchpads over three weeks. The meme launchpad battle heats up, with multiple metrics surpassing Solana—on-chain traffic competition grows increasingly fierce.

Numbers and insights: prediction market winner personas at the World Cup—behind $470M bet, someone makes $8.25 million across two games

Polymarket large capital moved from losses to profits; hit rate rose to 62.97%, but profits are concentrated in a small number of heavily-weighted accounts—survivorship bias is evident.

Solana Q2 report: tokenized asset trading volume doubles; non-speculative demand rises significantly

Solana Q2 tokenized asset trading volume doubled to $5.8 billion, a new high. But meme coin demand cooled, causing REV to plunge 43%—the foundation of demand is shifting toward settlement.

Daily transaction value surges into the global top ranks; a roundup of Robinhood Chain’s seven hottest NFTs

Robinhood Chain’s NFT ecosystem is heating up. Multiple projects entered the global top 10 by trading volume, with cumulative trades exceeding 1,500 ETH—exploring diverse玩法.

All about Web3

Circle shares plunge 76%; Hong Kong dollar stablecoins to launch within two weeks

The stablecoin track is moving from “who gets the license first” to “who can turn the license into real capital flows.” Hong Kong dollar stablecoins are set to launch.

Russia’s crypto regulatory shift: the doors open for compliance markets; everyday investors face “walls” again

Russia passed the “Digital Currency and Digital Rights” law to establish a framework for legal crypto trading markets. But compliance channels are layered with barriers—this is not a free market.

Movement Labs files for bankruptcy: how a “toxic contract”—known to everyone—got signed?

Movement Labs filed for bankruptcy. On the books it has less than $500k in assets, $10 million in liabilities, the MOVE token plummeted 99%, and the former founder is the biggest creditor.

BitMEX shuts down: a major crypto derivatives exchange bows out and ends an era

Legacy crypto derivatives exchange BitMEX announced it will close, immediately stop new user registrations, and end 11 years of trading operations—an era comes to an end.

Key news

• AMD CEO: the computing market is expected to reach a scale of $2 trillion by 2030
• An address keeps sending Bitcoin to Satoshi Nakamoto’s address; over $5,000 in two days
• Google’s future spending commitment rises to $811 billion, jumping nearly $500 billion within three months
• Sources: Anthropic, after considering an IPO, asks employees to sell stock according to pre-set trading plans
• Uniswap v4 launches permissioned asset pools
• BitMEX’s shutdown sparks BMEX to crash 95%; Bubblemaps says 75% of token allocations were never circulated on-chain
• AI programming company Cognition acquires Poke developer Interaction
• A single whale profits while long positions float at a loss of $1.8 million due to SpaceX’s share price drop
• AI chip startup Etched completes a $300 million Series C, with post-investment valuation reaching $10.3 billion
• Bithumb introduces video verification mechanisms for elderly users
• The American-Spanish Chamber of Commerce sends a letter to the Senate, saying the “Clarity Act” may accelerate deposit outflows
• Tom Lee: the AI “wealth terror valley” is approaching; in the future, AI agents’ created income may exceed individuals
• The U.S. SEC will hold a roundtable on September 17 to discuss shifting the stock market to 24-hour trading
• “Set 10 big targets first”: the whale closes BTC short positions to profit $2.26 million, then opens a $131 million long position
• Specter: a PancakeSwap LP was attacked due to a malicious EIP-7702 signature, with losses of about $2.96 million
• UK HM Revenue & Customs recovers over £8 million in crypto tax evasion over three years
• MoonPay launches an AI shopping wallet Paybox built on the x402 protocol
• Canton Strategic sells its Gravitas to focus on digitizing financial markets
• SemiAnalysis: ASML raises its guidance for FY2026 twice; an upcycle in semiconductor equipment may be further reinforced
• Time magazine cover focuses on Unitree Technology: Chinese humanoid robot companies leading the global wave