Arete Capital Partner: Bitcoin has faced difficulty in reaching a new high this year, but is expected to surpass $150,000 in the second half of next year

According to Bitget market data, the Hong Kong-listed AI application sector has widened its losses. MINIMAX-W (00100.HK) fell over 10%, Zhipu AI (02513.HK) dropped nearly 6%, with RoboSense (02498.HK), Inceptio Technology (02431.HK) and others declining in tandem.

Binance Alpha will be the first platform to list KiiChain (KII) today. After trading opens, eligible users can claim the airdrop using Binance Alpha points on the Alpha event page. More details will be announced soon.

According to official announcements, OKX has upgraded its TradFi market information features on its mobile app and web platform, adding a "Company" database and "News" module to relevant asset market pages. The "Company" database is tailored for tokenized stock assets, enabling users to view details such as company overviews, financial data, shareholder information, and dividend distributions. The "News" module covers selected tokenized stocks and commodities like crude oil, aggregating related news, in-depth reports, corporate events, and analyst insights. Additionally, over 20 key metrics—including price-to-earnings ratio, price-to-book ratio, market capitalization, earnings per share, and dividend yield—have been added to tokenized stock market pages, helping users access the asset’s fundamentals and latest news alongside market data.

The effectiveness of Japanese authorities’ foreign exchange market intervention to prop up the yen is coming under growing challenge. Market data indicates that carry traders are capitalizing on every yen rebound to re-establish short positions, forming a cycle of “intervention lifts the yen — traders sell on the rise”. Earlier, the joint U.S.-Japan intervention briefly pushed the yen higher, but less than two weeks later, USD/JPY once again neared 160. For carry traders, official intervention instead provides a more favorable yen selling price. This trading logic hinges primarily on interest rate spread advantages: investors borrow low-yield yen to allocate to high-yield assets; as long as the yen does not sustain appreciation, the interest rate differential can offset part of the exchange rate risk. As of August 4, hedge funds’ yen short positions have shrunk by roughly half, yet some institutions are re-establishing carry trades funded by the yen. Market data shows USD/JPY has rebounded from near 157 to 159.43. Some traders argue that without a significant decline in the U.S. dollar and U.S. yields, carry trades could push USD/JPY to retest 162. Japanese authorities were previously reported to have deployed tens of billions of dollars to support the yen at the end of July, with a single-day intervention hitting around $53 billion — a historical record. But the massive intervention still failed to prevent the yen from approaching 160 again, reflecting that the market’s focus on the U.S.-Japan interest rate differential and Japan’s fiscal pressure remains dominant. Currently, the market is closely watching the Bank of Japan’s (BOJ) next policy move. Traders are betting the BOJ may raise rates by 25 basis points in September or October, but analysts note that as long as Japan’s interest rates stay significantly lower than those of major economies like the U.S., yen-funded carry trades are likely to persist.

Cardano ecosystem wallet project SecondFi has announced the launch of a wallet migration tool and unveiled a recovery plan for assets affected by the June 2026 incident. SecondFi stated that as the project will cease operations, users need to migrate remaining assets still held in SecondFi wallets. The migration tool is scheduled to go live on August 13, supporting eligible ADA, Cardano-native tokens, and NFTs to be transferred to new Cardano wallets created by users’ chosen service providers. The tool currently only supports Cardano network assets; non-Cardano assets must be transferred separately via their respective networks and wallet processes. SecondFi noted that the migration tool has passed an independent security assessment by security firm Bitdefender, and users should read the official usage instructions and security tips before proceeding. Additionally, for assets affected by the June 2026 security incident, SecondFi plans to launch a recovery portal by September 10. Users can verify wallet ownership via zero-knowledge proof (ZK Proof) and submit claims for affected assets. SecondFi reminds users to only use links from official channels, including @secondfiapp, @secondfi_jp, and the official support website, to avoid phishing sites and impersonation accounts that have emerged recently.

Zhipu (02513.HK) announced today the launch of GLM-5.3. The model uses the same base architecture as GLM-5.2, with all performance improvements coming from post-training optimizations. Compared to GLM-5.2, GLM-5.3 performs better in complex coding and long-horizon tasks. Boasting enhanced coding capabilities, it is currently the most powerful open-weight model. In internal Z.ai code benchmark tests, its performance is 50% higher than that of GLM-5.2. Additionally, when scaled for post-training deployment, its network capability development has exceeded expectations. On the CyberGym platform, GLM-5.3 leads in vulnerability detection, with the most significant improvement seen in the latter part of exploitation chains—its performance in exploitation benchmarks is over twice that of GLM-5.2. The model weights will be released two weeks after this announcement, following the completion of security evaluations and reinforcement work.