News Center

Odaily News: The official website of the President of Ukraine has published a presidential decree announcing that Ukrainian President Volodymyr Zelensky has awarded the "Order of Liberty" to American billionaire Elon Musk. Market analysts generally believe that Zelensky is "seeking a favor from Musk" as he bestows this honor. The Ukrainian government is reportedly seeking authorization to expand its military's use of SpaceX's "Starlink" satellite internet communications. Ukraine is currently seeking Musk's approval to use Starlink satellites over the deep territory of Russia to strike targets within Russian borders.

Odaily News: The U.S. PCE price index has been released, which is the Fed's preferred inflation gauge. The annual PCE inflation rate is 3.7%, unchanged from June. Excluding the volatile food and energy categories, the core PCE inflation rate is 3.3% annually, also unchanged from June. Since this report incorporates other inflation data previously released, PCE figures typically align closely with investor expectations. However, as the Fed grapples with inflation, this report further clarifies the inflation situation, and Fed Chair Waller will deliver a key speech on Friday.

The U.S. CPI data brought good news in July: core CPI fell to a relatively moderate 2.5%. But the PCE inflation rate weights different spending categories differently, so its performance has been notably stronger. Currently, there remain many uncertainties about how Waller views the inflation challenge he has inherited. He has not yet added his economic projections to the quarterly "dot plot," which summarizes Fed officials' forecasts for the economy and interest rates; nor has he indicated whether he might support rate hikes at upcoming meetings, an issue that has already caused divisions among Fed officials. (Jin Shi)

Odaily News: Nick Timiraos, known as the "Fed whisperer," said on X that core PCE rose 0.25% month-over-month in July, translating to an annualized rate of 2.99%. This increase is roughly in line with July 2025, pushing the year-over-year core PCE rate to 3.34% (compared to 2.86% in July 2025). On an annualized basis, the 3-month annualized rate of core PCE is 3.0%, and the 6-month annualized rate is 3.5%.

Odaily News: U.S. annual inflation unexpectedly held steady in July, marking the 65th consecutive month it has remained significantly above the Federal Reserve's 2% target. The stall in the recent decline from elevated inflation levels, influenced by the Iran war, may intensify the internal debate at the Fed over whether to raise rates or hold them steady.

Data released by the Bureau of Economic Analysis on Wednesday showed that the PCE price index, the Fed's preferred inflation gauge, rose 3.7% year over year in July, unchanged from June and above the 3.6% expected by analysts. With trade talks between the U.S. and its second-largest trading partner, Canada, breaking down on Friday, a new wave of tariff-induced inflation pressures may be on the horizon.

On a month-over-month basis, the PCE price index rose 0.2% in July, also exceeding economists' expectations. In June, the index had fallen 0.1% month over month, the lowest level since April 2020. The Bureau of Economic Analysis also updated second-quarter economic growth data, keeping the annualized growth rate of real gross domestic product (GDP) at 1.5% for the second quarter. (Jin Shi)

Odaily News: Market pricing shows a slight increase in expectations for a Federal Reserve rate hike next month, following the release of U.S. government data indicating that the inflation gauge closely watched by the Fed rose 3.7% year-over-year in July, slightly above economists' expectations. Interest rate futures data show that after the data release, the market priced in approximately a 42% probability of a Fed rate hike in September, up from about 36% before the data release.

Odaily News: Alibaba's Qwen team has released the Qwen3.8-Flash model, described as a multimodal MoE model and an early preview of the Qwen4 architecture. The production version of Qwen3.8-Flash will soon be available via the Qwen Cloud API, priced at just $0.16 per million input tokens and $0.47 per million output tokens. The model has 125 billion parameters plus 51 billion N-gram embedding parameters, but only activates 6 billion parameters per token, achieving extremely high cost-effectiveness. (Jin Shi)

Odaily News: Craig Salm, Chief Legal Officer of digital asset management company Grayscale Investments, stated that the company's Zcash investment product has been upgraded to the world's first Zcash Exchange-Traded Product (ETP), marking the entry of privacy-focused crypto assets into broader compliant investment channels. Following the launch of this Zcash ETP, investors can gain exposure to ZEC through SEC-registered traditional financial products. Grayscale stated that this signifies that the Zcash ecosystem, after nearly a decade of development, is entering a new institutional phase.

Salm recalled that Grayscale launched the Zcash Investment Trust in 2018, when the ZEC trust product was just one of four products offered by the company. After years of regulatory communication, the product was recently converted into the Zcash ETP, with the ticker symbol ZCSH. The process of bringing the Zcash product to the public market was not easy. Due to ZEC's privacy features, the company underwent additional regulatory scrutiny when it launched its first publicly quoted Zcash fund in 2021, but ultimately completed the product rollout.

Data shows that the adoption rate of Zcash's private transaction features has been steadily increasing recently. In February 2026, the proportion of ZEC shielded transactions reached an all-time high of 59.3%, and after the latest Ironwood upgrade, it has again approached this level. Currently, there are approximately 4.4 million ZEC in the shielded pool, accounting for about 26% of the circulating supply.

Odaily News: MiniMax disclosed at its 2026 interim results meeting on the evening of Aug. 26 that its annual recurring revenue (ARR) exceeded $800 million in August, with second-quarter revenue growing 81.8% quarter-over-quarter. Token consumption in July reached 20 times the level in January, and B-end business contributed over 80% of total ARR.

MiniMax stated that in terms of computing power, it is one of the first two independent large model companies in China to establish a large-scale, long-term stable infrastructure system. The infrastructure can independently support the largest training tasks, with an Effective Training Time Ratio (ETTR) reaching 97%.

Odaily News: The annualized quarterly rate of real GDP for the second quarter in the United States was revised to 1.5%, consistent with the initial estimate and in line with market expectations. The annual rate of the core PCE price index for July in the United States was 3.3%, unchanged from the previous month and in line with market expectations. (Jin Shi)

Odaily News: The U.S. real GDP annualized quarterly rate for the second quarter was revised to 1.5%, in line with the expected 1.50%, and unchanged from the previous 1.50%. (Jin Shi)

Odaily News: The U.S. core PCE price index rose 0.2% in July, in line with the expected 0.20%, and compared with the previous 0.10%. (Jin Shi)