PANews

Alibaba completed the placement of HK$80 billion in new shares, with 100% of the net proceeds to be used to invest in full-stack AI capabilities and infrastructure. The placement was nearly 3 times oversubscribed, with sovereign wealth funds and long-term funds accounting for more than 40% of subscriptions, demonstrating global long-term capital’s vote of confidence in the placement. CICC, HSBC, Morgan Stanley, and UBS acted as joint coordinators and joint bookrunners, while Barclays, Citi, and JPMorgan acted as joint bookrunners.

作者：Joe Zhou，Foresight News
Author: Joe Zhou, Foresight News
沉寂了几乎一整年的加密货币市场，上周突然炸了。
The cryptocurrency market, which had been quiet for almost an entire year, suddenly exploded last week.
比特币从周初的 62800 美元附近暴力拉升，8 月 21 日盘中最高触及 79500 美元，单周最大涨幅超过 26%，创下 2023 年 3 月以来的最大单周涨幅纪录。市场上关于「牛回了」的声音不绝于耳。
Bitcoin surged violently from around $62,800 at the start of the week, reaching an intraday high of $79,500 on August 21. Its maximum weekly gain exceeded 26%, marking the largest single-week increase since March 2023. Voices proclaiming that “the bull is back” were everywhere in the market.
信号不会只响一次，但真正的考验在于——我们能否准确识别它的性质。更值得追问的是：这次反弹中，哪些资产涨得有理，哪些只是随波逐流？答案里藏着下一阶段的密码。
A signal does not sound only once, but the real test is whether we can accurately identify its nature. More importantly, which assets rose for good reason in this rebound, and which merely followed the trend? The answer contains the key to the next phase.
这次牛回，再次验证了哪些市场规律？
Which market principles has this return of the bull market reaffirmed?
每一次极端行情，都不是偶然的噪音，而是市场结构的一次压力测试。这次反弹，再次印证了。
Every period of extreme market conditions is not accidental noise, but a stress test of market structure. This rebound once again confirmed that.

PANews, August 24 — Tronscan data shows that the total number of accounts on the TRON network has officially surpassed 400 million.

A UK court shut down crypto company Key Coin Assets, which is under investigation after 9 investors reported losses of over £300k to Action Fraud. The FCA added it to its unauthorized firms list in September 2024. The company had no evidence of genuine trading, claimed returns of 40%-100%, and promoted “0 fees, 0 risk,” displaying characteristics of a Ponzi scheme. Most funds were transferred to directors’ personal accounts within hours of receipt, making them difficult to trace, and the company lacked complete accounting records. The company repeatedly changed its registered address, falsely reported its assets, and used unauthorized fake customer reviews.

PANews, August 24 — According to Caixin, Barclays’ rate strategists said in a report that Federal Reserve Chair Warsh may advocate reducing the Fed’s use of forward guidance, as he believes forward guidance was one source of past policy mistakes; Warsh is also expected to emphasize the long-term drivers of the economy, particularly productivity trends and their impact on potential growth; Warsh is unlikely to provide near-term policy guidance, but the market will seek more information on how the FOMC plans to bring inflation back to its 2% target.

Former Hack VC partner Hsin-Ju Chuang alleged on X that she was required to work at high intensity despite suffering from Graves’ disease and severe insomnia, including participating in events such as Hack Summit and Korea Blockchain Week; she said she was threatened with being “blacklisted from the industry” if she quit; prolonged high-pressure work led to a deterioration in her mental health and suicidal thoughts; her COBRA health insurance coverage remained unresolved for nearly four months after she left; and she refused to settle under confidentiality terms, saying she would publish all the evidence on August 26. She was an early member of Solana and later became a full-time partner and platform lead at Hack VC.

PANews, August 24 — According to Jin10, Moonshot AI’s Kimi posted that its first-generation trillion-parameter multimodal model, KimiK2.5, will end its service at the end of this month.

GTA 6 is nearing release, with record-breaking preorders and rumored costs as high as $2B. Cyberleek manipulated the hype with a Web3 marketing strategy of “mint first, leak later,” using GTA6 gameplay footage and watermarks to drive discussion while launching a token economy; clues point to its Indian branch being hacked. Netflix announced a six-hour exclusive premiere, but the wave of leaks has diluted its impact, while YouTube profited from it instead.

PANews August 24 news: According to Lookonchain monitoring, an address shorted Bitcoin and Ethereum 14 times over the past 5 days, losing money each time, with cumulative losses of $4.56 million. Now, the address has opened its 15th short position: a 300 BTC short with 40x leverage, worth $23.13 million.

From Monday to Friday mornings, PANews focuses on macroeconomics, U.S. stocks, AI, precious metals, crude oil and other areas, reviewing the market with data and seizing opportunities through trends.
Two fronts are tightening at the same time, with the market testing the edge of “buy the expectation, sell the fact”
On Friday, the preliminary U.S. composite PMI for August rose more than expected to a more than four-year high. Strong expansion in the services sector offset manufacturing weakness, driving all three major indexes higher. The Dow Jones Industrial Average rose 0.98%, its largest single-day gain since May; the S&P 500 rose 0.43%, and the Nasdaq rose 0.44%. However, on a weekly basis, the rebound was still insufficient to change the trend. The S&P 500 fell 1.43% for the week, the Nasdaq fell 2.05%, and the Dow fell 0.85%, ending the Nasdaq’s three-week winning streak.
What is truly worth watching is the bond market. During early Asian trading on August 24, the 10-year U.S. Treasury yield was around 4.71%, while the 30-year yield was around 5.2.

本期看点
AI and robotics primary markets continued to maintain strong momentum last week, with capital mainly flowing into AI chips, data centers, computing infrastructure, and high-growth AI applications.
AI chip company Etched completed a $700 million financing round at a valuation of $21 billion; DataVita, Groq, Starcloud, and Muon Space each secured hundreds of millions of dollars in financing. Meanwhile, AI application companies including Higgsfield, Wispr, and Rillet also raised substantial amounts, with AI video platform Higgsfield raising $400 million and seeing its valuation rise to $5.4 billion.
The robotics and Physical AI sectors were equally active. SoftBank invested in construction robotics company Gravis

PANews, August 24 — According to a report by Cailian Press, Nvidia is discussing investing in AI startup Perplexity at a valuation exceeding $30 billion and is considering entering into a technology licensing agreement.

According to SoSoValue, XRP spot ETFs recorded approximately $39.78 million in net inflows last week (August 17–21), with Bitwise XRP ranking first at $30.2177 million and historical net inflows reaching $543 million; followed by Franklin Templeton XRPZ, with net inflows of $7.6223 million and historical net inflows of $434 million. As of press time, total net assets stood at $1.33 billion, the net asset ratio was 1.54%, and cumulative net inflows reached $1.55 billion.

According to SoSoValue, last week (8/17–21), the HYPE spot ETF recorded a net inflow of $3.8884 million, HYPG a net inflow of $2.5659 million, BHYP $2.4480 million, and THYP a net outflow of $1.1255 million. HYPG and BHYP’s historical net inflows were $130 million and $114 million, respectively, while THYP’s historical net inflow was $48.65 million. As of press time, HYPE had total assets of $360 million, a net asset ratio of 2.14%, and cumulative net inflows of $287 million.

According to SoSoValue, last week (8/17–8/21), SOL spot ETFs recorded net inflows of $28.3404 million. BSOL saw weekly inflows of $22.5098 million, bringing cumulative inflows to $923 million; GSOL saw weekly inflows of $4.0205 million, bringing cumulative inflows to $112 million; and QSOL recorded net outflows of $414.7k, with cumulative net outflows reaching $3.13 million. As of press time, SOL spot ETFs had total assets of $1.12 billion, a net asset ratio of 2.09%, and historical cumulative net inflows of $1.19 billion.

Ourbit SuperCEX announced it has become a platinum sponsor of FUTUREMODE 2026, Taiwan’s largest technology and culture festival. The event will be held at Taipei Expo Park from September 4–6 and is expected to attract numerous developers and industry professionals. The move aims to strengthen connections with builders, innovators, and communities and promote the development of Asia’s technology ecosystem; the platform previously served as a naming sponsor of Taipei Blockchain Week. Positioned around “Trade Everything,” Ourbit offers 24/7 trading of multiple asset types, zero spot trading fees, and a single account covering all categories.

PANews reported on August 24 that, according to monitoring by Onchain Lens, institutional-grade crypto custodian Ceffu withdrew 120 million USDC from Ethena’s Coinbase Prime Custody wallet through 6 transactions over the past day.

Term Labs updated that this governance attack only affected the governance mechanism of Term Vaults and was unrelated to the underlying protocol and lending markets. All Meta Vaults have been closed and DAO governance privileges revoked to prevent further inflows of funds. The closure is irreversible, and new deposits will be permanently blocked. Withdrawals remain open, and Term Labs is working with external security teams on remediation and recovery; if a funding shortfall is confirmed, response options will be explored. Please rely only on official information and beware of impersonation. The losses were previously estimated at approximately $8.5 million.

PANews, August 24 — Lookonchain monitoring shows that the largest short positions on-chain are currently held by market makers’ hedging accounts, while whales appear to have been liquidated during this price surge. Abraxas Capital, Fasanara Capital, and Wintertermute collectively hold short positions of 138,569 ETH (worth $338 million) and 3,425 BTC (worth $265 million).