Jiang Zhuoer: Completed full liquidation of Ethereum spot holdings, projects Ethereum’s rebound will cap at $2,000.

RWA perpetual contract trading platform Ostium on Arbitrum has been hacked, with estimated losses of $18 million, roughly 35% of its over $34 million treasury. The attacker is alleged to have compromised the oracle signer’s private key, used the registered PriceUpkeep relay to submit favorable future prices, and executed a loop of opening and closing positions to drain the treasury. Ostium’s official team has not yet responded.

According to monitoring by Onchain Lens, a U.S. government address has emptied another wallet holding crypto assets seized from Alameda Research and FTX, transferring 4,820 ETH to Coinbase Prime, valued at $9.28 million; 54.89 billion SHIB, 631,740 POWR, and 1.06 million AERGO to three new wallets, worth $235,600, $27,900, and $22,100 respectively. The wallet now holds $0 in assets.

According to BIT (bit.com) market data, during Wednesday’s U.S. trading session, Apple’s stock rose nearly 3% to hit a high of $325.4, notching another all-time record. The key driver behind the rally is Apple Intelligence’s successful completion of domestic generative AI filing in China, along with confirmation of its integration with Alibaba’s Qianwen large model. Alibaba’s U.S.-listed shares also gained over 6.6%, while Baidu’s U.S. stock climbed more than 3.3%, as market expectations for integration in China’s AI ecosystem heat up. In related background news, China’s Cyberspace Administration of China (CAC) today released filing details for seven on-device generative AI services for mobile phones, including Apple Intelligence, Huawei’s Xiaoyi large model, OPPO AndesGPT, vivo’s Blue Heart on-device large model, Xiaomi HyperAI, Samsung Galaxy AI, and nubia’s Doubao large model. This marks the first time on-device AI model services for mobile phones have completed official filing; prior filings by tech firms were primarily focused on cloud-based large models. Alibaba’s Qianwen will be integrated into Apple Intelligence to power text and image understanding, content generation, and other services for Chinese users of iOS, iPadOS, macOS, and visionOS, enabling direct access without app switching. Baidu’s AI capabilities will also be integrated into Apple Intelligence, marking Apple’s official launch of localized AI deployment in the Chinese market.

Fed Chair Waller said he expects artificial intelligence (AI) to push up observable price levels over the next 12 months, noting that whether AI will drive inflation depends on the Federal Reserve. He believes AI is a long-term job creator and could bring disruptive impacts. On AI’s short-term effects, Waller stated there is no guarantee it will not cause job disruptions, nor can he offer reassurance on employment. "The price spikes triggered by AI are real, and I don’t want to downplay this," he emphasized.

Federal Reserve Chair Waller attended the hearing of the U.S. Senate Committee on Banking, Housing, and Urban Affairs for the Federal Reserve’s Semi-Annual Monetary Policy Report. During the hearing, he stated that he has gone beyond the requirements of the ethics agreement, having sold or is in the process of fully liquidating assets he held prior to taking office as Fed Chair, and has converted his investments into cash equivalents and short-term U.S. Treasury securities.

According to monitoring by Beating, Apple is seeking to acquire an artificial intelligence chip company. The tech giant’s self-developed M2 Ultra chip has proven insufficient to run advanced AI workloads, forcing it to rely on NVIDIA. The future version of Apple’s AI server chip, codenamed "Baltra", was originally scheduled to ship this year but has been delayed.