Odaily News: South Korea's stock market trading value has fallen to its lowest level this year, with investor enthusiasm waning, suggesting that this AI-heavy market may struggle to return to its previous highs. The average daily trading value of South Korea's KOSPI index fell to 20.6 trillion won ($15 billion) in September, the lowest in 2026 and less than half of the peak months of May and June.
Earlier this year, retail buying frenzy driven by AI enthusiasm pushed South Korean stocks to new highs, followed by a 22% sell-off in July amid doubts about returns. The benchmark index has since rebounded but has failed to sustain its position above the key 7,000 level. Analyst Jason Minsang Kam said: "Volatility should decline further, chip cycle concerns should dissipate, and the index is expected to trade in a range." (Jinshi)
Zhipu stated in a conference call with analysts and investors that it has signed revenue-sharing agreements with several leading domestic and international cloud service providers, and the related revenue will start to be recognized from October.The cooperation model involves providing services for the GLM series of open-source models in the form of hosted APIs on overseas cloud platforms. Currently, the company's total business ARR has reached 1.8 billion USD, and the year-end ARR guidance has been raised from 2.4 billion USD to 3 billion USD.
The enterprise-level self-improvement software development company Factory announced the completion of a $200 million financing round, with a valuation reaching $5 billion; the company's total financing has exceeded $400 million, more than doubling its valuation from $1.5 billion in April this year.This round of funding will be used to accelerate research and development, product expansion, and global market development. Factory stated that institutions such as Blackstone, Khosla Ventures, Sequoia Capital, Insight Partners, Evantic Capital, Sound Ventures, New Enterprise Associates (NEA), Mantis VC, and Clearlake, as well as individuals like Nico Rosberg, Brad Gerstner, and Marc Benioff, support its development. Factory claims that hundreds of thousands of developers are using its products, including teams from NVIDIA, Blackstone, Royal Bank of Canada (RBC), Palo Alto Networks, and Adobe.
The 10-year U.S. Treasury yield has reached a new high since 2007, and industry insiders are concerned about the impact of maintaining rates above 5% for the long term. Jack Ablin, Chief Investment Officer of Cresset Capital, stated that the real issues will emerge in 12 to 18 months, when companies and borrowers will need to refinance at the new rates.
Odaily News: Zhipu (02513.HK) stated during a conference call with analysts and investors that it has signed revenue-sharing agreements with several leading cloud service providers both domestically and internationally, with related revenue to be recognized starting in October. The cooperation model involves GLM series open-source models being offered as managed APIs on overseas cloud platforms. The company's current all-business ARR has reached $1.8 billion, and its year-end ARR guidance has been raised from $2.4 billion to $3 billion. (Jinshi)
Etherscan announced that it has never launched, issued, sponsored, or endorsed any tokens related to "Robinscan," and these tokens are not associated with Etherscan.The only official block explorer developed for Robinhood Chain is robin.etherscan.io. Any website, token, or project using a similar brand, interface, or design should not be considered associated with or endorsed by Etherscan, and users are reminded to rely solely on Etherscan's official domain and channels.
According to the Bloomberg Billionaires Index, ByteDance founder Zhang Yiming has become the richest person in Asia for the first time with a net worth of over $105 billion, surpassing Indian billionaire Gautam Adani.At 43 years old, Zhang Yiming's wealth has increased eightfold from $13 billion when Bloomberg began tracking in March 2019. He previously faced a regulatory battle that nearly led to TikTok being banned in the United States.
Odaily News: In the procedural vote on the CLARITY Act this morning, Republican Senator Thom Tillis initially voted YES, but after the situation became clear and it was determined that the Cloture Motion had failed, he changed his vote to NO.
According to Senate rules, only senators who vote with the winning side (the majority) are eligible to file a Motion to Reconsider a failed cloture motion. By switching his vote from YES to NO, Tillis can formally file a motion to reconsider. This preserves a pathway for the Senate to hold another cloture vote on the CLARITY Act without having to restart the entire legislative process from scratch. If Tillis had stuck with his YES vote, he himself could not have filed this motion, but after the vote switch, Republicans now have the opportunity to initiate another cloture vote at the Senate level.
Zhiyu (02513.HK) stated in a conference call with analysts and investors that the company has just completed a refinancing of $5 billion with a "small equity, large debt" structure, which was driven by the demand for computing power expansion.After the release of GLM-5 in February, the demand for model calls surged tenfold, and nearly all of the company's computing power reserves were depleted within the week of the release, forcing the suspension of the main product, Coding plan. In response, Zhiyu actively addressed the situation, completing a $4 billion refinancing in July, and finally made a large-scale layout for computing power expansion; after refinancing another $5 billion on September 11, it firmly continued to expand its computing power layout.After this expansion, Zhiyu's computing power has taken shape and is now able to support the company's rapid business growth and the continuous research and development of larger-scale models.
Odaily News: According to Pump.fun data, Chinese-speaking KOL 0xSun's account is still down over $82,000, with the largest single-token loss on the meme coin FLYBRAIN, where $49,800 was invested and unrealized losses reached $41,000.
Earlier reports indicated that in early August, 0xSun announced a partnership with Pump.fun, joining the platform to open a trading account and restart meme coin trading.
Odaily News: Zhipu (02513.HK) stated during a conference call with analysts and investors that the company has just completed a $5 billion refinancing through a "small equity, large debt" structure, driven by the need to expand computing power. After the release of GLM-5 in February, Zhipu saw demand for model calls surge 10-fold, and its computing power reserves were nearly exhausted within the week of the launch, forcing it to suspend sales of its flagship product, Coding plan.
In response, Zhipu took active measures, completing a $4 billion refinancing in July and finally making large-scale arrangements for computing power expansion; after raising another $5 billion on September 11, it once again firmly expanded its computing power layout. Following this expansion, Zhipu's computing power has reached an initial scale and is now able to support the company's rapid business growth and continued R&D of larger models. (Jinshi)
Odaily News: At dawn Beijing time on Thursday, the Federal Reserve is set to announce its interest rate decision, drawing intense global market attention. On Tuesday US Eastern Time, UBS analysts said there is no need for excessive panic over the anticipated rate hike, as historical data shows that after a rate hike cycle officially begins, the stock market tends to show strong resilience. UBS maintained its S&P 500 targets unchanged: a year-end target of 8,100 points and a mid-2027 target of 8,400 points.
The UBS strategy team led by David Lefkowitz reviewed 16 Fed rate hike cycles since 1954: the S&P 500 posted an average gain of 10.8% in the 12 months after the first rate hike. They also reached a key historical conclusion: within one year after a rate hike cycle begins, the US stock market has never entered a bear market.
The document shows that VietJet Air is about to reach an agreement to lease 22 aircraft and has signed a contract with SpaceX for in-flight internet services.
According to GMGN data, the top 5 tokens with net inflow of smart money in the past 24 hours are as follows:PUMP (pump....Dfn): Net inflow of $7,000, with a 24-hour increase of -3.2%, currently priced at $0.0036.baton (Hg5J....ump): Net inflow of $5,000, with a 24-hour increase of -53.6%, currently priced at $0.0037.PAID (98kf....ump): Net inflow of $4,000, with a 24-hour increase of 351893.4%, currently priced at $0.0099.GLDx (Xsv9....3re): Net inflow of $4,000, with a 24-hour increase of 0.9%, currently priced at $397.8939.GSI (3YqF....NEa): Net inflow of $4,000, with a 24-hour increase of 37.9%, currently priced at $0.0001.
Odaily News: Block CEO Jack Dorsey said he supports scrutiny, independent evaluation, and planning for frontier AI, but opposes industry-wide development restrictions negotiated between governments and leading AI companies.
He advocates for an open-release approach that allows outsiders to reproduce results, identify problems, and develop alternatives, and for providing models, computing power, and public infrastructure support to independent researchers and safety researchers.
Block is developing open-source AI tools and offers Bitcoin-related services across products including Square and Cash App. The company has also launched the open-source AI agent goose and is developing Bitcoin mining hardware Proto and hardware wallet Bitkey. (Bitcoin.com News)
Odaily News: According to Lookonchain monitoring, Bonk Guy's (Unipcs) portfolio has decreased by $12.6 million over the past 10 days, but he still has not sold PONS, USELESS, or MarsCoin.
According to Catcher Predict monitoring, in the Polymarket event "St. Paul Open: You Xiaodi vs. Alina Charaeva," the sub-market "St. Paul Open: You Xiaodi vs. Alina Charaeva Spread +/-3.5" option for "Alina Charaeva" has experienced a dramatic fluctuation in winning probability, dropping from 50% an hour ago to the current 25.5% (a fluctuation of 24.5%). Please note the impact of related breaking news.
Odaily News: Approximately 2.4 million ZEC participated in the privacy-focused vote on Zcash's next major network upgrade, NU7, representing about two-thirds of the tokens eligible to vote.
Voters supported shortening block times to 25 seconds, retaining the Bitcoin-style halving schedule, and launching NU7 as soon as possible; they also supported delaying the reissuance of fees collected by the network sustainability mechanism until February 2031 and disabling transactions related to the deprecated Sprout privacy system. (CoinDesk)
Zcash holders voted overwhelmingly to support speeding up transaction times while retaining the Bitcoin-like halving mechanism. This governance vote was for Zcash's next major network upgrade, NU7, with nearly 2.4 million ZEC participating in the vote, accounting for about two-thirds of the approximately 3.6 million eligible ZEC at the time of the snapshot. The results were calculated based on ZEC weight, with each eligible ZEC representing one vote.Among them, 99.9% of participating ZEC supported reducing the block time from 75 seconds to 25 seconds, 98.9% supported retaining the Bitcoin-like halving mechanism, 96.6% supported postponing the fee reissuance of the Network Sustainability Mechanism (NSM) until February 20231, and 99.3% supported launching NU7 as soon as possible, giving up any unrealized features before the deadline of September 30.This vote was limited to holders of ZEC in Zcash's latest privacy transaction pool, Ironwood. The ballots were encrypted and split into 16 parts for counting, making it impossible for validators to reconstruct the specific holders' votes and balances. Previously, a sentiment survey in February for NU7 only attracted 7.25% of circulating ZEC to participate. The voting results themselves will not directly change the network; the relevant features still need to be implemented, tested, and included in the final upgrade.
In the preview of the press conference with Waller, the market is focused on whether he can clearly explain the policy decisions and avoid the communication mishap from July. Analysts at French Foreign Trade Bank expect Waller to explain the interest rate hike as a necessary measure to control inflation.If the Federal Reserve raises interest rates as scheduled, the market will pay attention to Waller's views on inflationary pressures. Reuters points out that Waller needs to respond to Trump's demands for interest rate cuts in a sensitive political environment and emphasize the independence of the Federal Reserve.
