Year-to-date, the number of days the 30-year U.S. Treasury yield has closed above 5% is the highest since 2006.

According to monitoring by Scam Sniffer, two crypto wallets lost approximately $187,000 due to unrevoked authorizations in 2024. One loss involved $124,000 worth of SYN, with the authorization signed in February 2024; the funds arrived on August 30 and were transferred out roughly 25 hours later. The other loss was 62,489 USDC, whose authorization was signed in July 2024, with the funds arriving on August 27 and transferred out about four days later.

Goldman Sachs believes discussions around AI capital expenditure (capex) are far from over. As large tech firms continue to compete for computing power, land, electricity, and data center resources, the supply-demand imbalance in AI infrastructure is likely to persist through the first half of 2028, meaning investors will continue to see higher capex guidance in the coming years. Eric Sheridan, head of TMT research at Goldman Sachs, noted there remains a significant gap between current AI computing power demand and available supply, with storage prices, chip costs, and data center construction expenses all rising. Pressure points across the AI industrial chain have expanded beyond a mere GPU shortage to include memory, land, electricity, data center enclosures, and delivery lead times.

Beating AI News: Tencent’s Hunyuan team reportedly took a full week of collective leave after releasing the Hy4 preview. The team’s workspace, which had long been consistently occupied, was nearly empty this week, with the leave linked to the launch of Hunyuan’s latest version. On August 28, Tencent open-sourced the Hy4 preview — Hunyuan’s largest open-source model version to date, boasting 770 billion total parameters, 49 billion activated parameters, and a context length exceeding 1 million tokens. Before the Hy4 preview launch, the team had worked at high intensity for several consecutive months. Following the version’s release and internal approval, the company scheduled the team for a phased rest period. Against the backdrop of accelerating competition in the large language model (LLM) space, long-term high-intensity R&D by model teams has become an industry norm. Many teams immediately move on to the next round of development after launching a model, making this arrangement of taking concentrated rest after completing a milestone relatively rare.

Pons officials announced that in the past 24 hours, user-paid fees on its platform have ranked first among all on-chain launchpads, with daily trading volume surpassing $500 million over the same period. According to GMGN market data, as of press time, Pons’ fully diluted valuation (FDV) stands at $412 million, with 29.3% of its tokens already burned.

Bitmine Chairman Tom Lee told CNBC in an interview yesterday that if the Federal Reserve holds interest rates steady in September, the stock market could see a "very strong" rally, making the Sept. 15 Fed meeting a potential turning point. Lee noted that against the backdrop of inflationary pressures and energy supply issues in 2026, the market has already priced in some rate hike expectations, and September's seasonal weakness paired with prevailing concerns might instead trigger an upside surprise. He also expressed bullishness on cryptocurrencies, stating that Bitcoin's recent rally is a "phase one" advance, institutional allocations to crypto will strengthen in the fourth quarter, and "the asset with the strongest FOMO effect between September and year-end will be cryptocurrency, especially ETH."

SHEIN officially listed on the Hong Kong Stock Exchange today, with the stock abbreviation SHEIN-W and code 00625. The company’s IPO was priced at HK$48.56 per share, raising approximately HK$13.6 billion, for a listed valuation of around US$26 billion. On its first trading day, SHEIN opened flat at the IPO price before declining rapidly, hitting an intraday low of roughly HK$43.72, a drop of about 10%. Notably, the SHEIN Pre-IPO market on Trade.xyz, part of the Hyperliquid ecosystem, has once again demonstrated strong price discovery capabilities. The SHEIN trading pair on Trade.xyz plunged 15% yesterday, pricing in SHEIN’s potential IPO underperformance in advance. As of press time, the xyz:SHEIN contract trades at approximately US$5.69, equivalent to around HK$44.6 under the Hong Kong dollar’s peg to the US dollar, which is largely in line with SHEIN’s intraday price range of around HK$44 on its Hong Kong debut.