South Korea's KOSPI Index falls 2.4% at the opening of trading.

Arthur Hayes said in an interview that he expects Bitcoin will soon experience a parabolic rally, with BTC’s price surging rapidly to hundreds of thousands of dollars. "Now is the time to hold BTC—buy the dip before it’s too late," he noted.

According to Yonhap News Agency, the union of SK Hynix has rejected the preliminary salary agreement struck with the company’s management. The preliminary deal was voted down by 50.08% of opposing votes. Prior to submitting the agreement to a membership ballot, the union leadership and management had already finalized the preliminary deal.

According to Bloomberg, Lambda is an AI cloud computing service provider backed by NVIDIA. Sources familiar with the matter revealed that the company is in talks for a funding round of up to $3 billion, which could pave the way for its IPO next year. As one of the "neocloud" firms offering chip and other AI infrastructure leasing services, Lambda has discussed a fundraising at a valuation of up to around $12 billion or higher. Since the relevant discussions remain unpublicized, the sources requested anonymity. The sources added that the funding negotiations are still ongoing and the deal terms have not been finalized.

Cosmos Labs said an ongoing security incident has affected users of the Cosmos EVM module. The lab’s security and engineering team has been actively addressing the incident. Cosmos Labs has advised Cosmos EVM chains it is in contact with to instruct their validators to suspend chain operations. A full incident report will be published once the situation is resolved.

According to Bitget market data, South Korea's KOSPI index plunged 4.00% intraday, Samsung Electronics fell 4%, and SK Hynix dropped 6%.

According to The New York Times, the U.S. Securities and Exchange Commission (SEC) is investigating the near-collapse of AI hedge fund Situational Awareness, and has issued subpoenas to major Wall Street banks that participated in the fund’s trading and provided leverage capital. People familiar with the matter told the outlet that the SEC is demanding the banks provide details on the fund’s trading timelines, its communications with lenders regarding borrowed funds, and preserve all documents related to the fund. Founded by former OpenAI researcher Leopold Ashenbrenner, Situational Awareness once generated robust returns amid the AI boom. At its peak, the fund managed over $30 billion in assets and borrowed tens of billions of dollars to amplify its investments. But late last month, as shares of leading AI firms declined and the traditional tech stocks it had shorted rose, the fund’s losses widened rapidly, forcing it into a "fire sale" of positions and selling most of its stock portfolio to Citadel at a discount. The SEC noted that the investigation is still in its early stages and does not guarantee penalties will be imposed. No violations have been alleged against Situational Awareness. The fund said it will "fully cooperate with any regulatory requirements".