Federal Reserve Beige Book: Overall Economic Outlook Positive, But Uncertainty Rises

According to Lookonchain monitoring, the mysterious whale address 0x6436 purchased another 308,569 HYPE tokens today, valued at approximately $26 million. As of now, this address has accumulated around 4.05 million HYPE tokens for a total value of about $322 million, and has staked all of its HYPE holdings.

Beating AI News Flash, according to a report from Axios, a Republican-led subcommittee on disaster management of the U.S. Senate is investigating OpenAI’s handling of the July Hugging Face security breach, a move coming as Capitol Hill’s concerns over AI existential risk are rapidly escalating. Earlier, multiple researchers from Anthropic and OpenAI had publicly issued warnings. Missouri Republican Senator Josh Hawley, chair of the Senate Homeland Security and Governmental Affairs Committee’s Subcommittee on Disaster Management, wrote in a letter to OpenAI CEO Sam Altman: "As you know, an increasing number of AI experts in the public domain are warning about AI existential risks." He added: "This week alone, three Anthropic researchers publicly stated that the probability of AI killing all humanity within the next decade exceeds 10%." Hawley noted that the investigation is in response to OpenAI’s recently released internal investigation findings. The Hugging Face breach marks a turning point in AI history, prompting OpenAI to slow the release of its own models and alert the industry to AI-driven cyberattacks.

At the Republican midterm election conference, Trump made a bold promise: if the GOP retains control of the House of Representatives and Senate in the November midterms, he will distribute a $5,000 "Trump Dividend" to every adult U.S. citizen. The plan is estimated to cost over $1 trillion, though Trump did not specify its funding source, and its implementation would require congressional approval. This rare promise underscores the intense midterm election pressure facing Trump and the Republican Party. Trump’s approval rating remains under pressure, voter discontent over living costs and the Iran conflict is rising, and multiple Republican candidates in tight races even skipped the conference; the GOP currently needs to hold onto its narrow majority in the House, while Senate seats are also competitive. In his speech, Trump unusually asked voters to "pretend I’m on the ballot" and acknowledged that the president’s party typically loses congressional seats in midterm elections. He also pledged to devote more time to helping Republican candidates campaign, seeking to reposition himself as the core mobilizing force for the November elections. Meanwhile, the U.S. national debt has surpassed $40 trillion, raising questions about the fiscal viability of the $5,000 dividend plan. The Republican Party has also begun seeking adjustments to the plan, with Senator Ted Cruz suggesting it could be structured as a tax refund with work requirements.

Binance has launched its "Starter Carnival" series of activities, with the first phase rolling out the Button Game. The game’s rules are straightforward: after a user clicks the button, a 60-minute countdown begins immediately. If no other user clicks again during this window, the countdown will reach zero, and the user will earn 30 BNB vouchers. Once another click is registered, the countdown resets to 60:00, and the game proceeds. The activity will only kick off after 50,000 users have registered. Each user starts with 3 click chances, which can be obtained through tasks including deposits, trades, and sharing. If no user manages to reach 00:00 on the countdown, the prize will go to the user whose countdown is closest to 00:00.

Beating AI News: Former Feishu Product Vice President Shi Kaiwen has abandoned his edge-side Agent startup and joined a large language model company as a product partner. It has been less than three months since he announced the startup at the end of June. Shi originally planned to develop an edge-side Agent, with team members from ByteDance and Shanghai Jiao Tong University. A June report also mentioned that Sequoia China and Junqiu Fund participated in the early-stage investment, but the funds have not actually been disbursed. The project had not disclosed specific product details before. Shi joined ByteDance in 2019, long leading Feishu’s product direction and spearheading Feishu’s multi-dimensional spreadsheet feature.

Beating AI News Flash: Anthropic’s latest economic scenario model shows that in the most extreme case, if AI can independently complete the vast majority of knowledge-based jobs and spread rapidly, the U.S. annual GDP growth rate could reach 15%, with the economy doubling roughly every 4.5 years. By 2030, U.S. GDP could hit $44.4 trillion, 32.4% higher than in a scenario without AI. Anthropic emphasized that this is a conditional extreme scenario, not a formal forecast. Earlier, Elon Musk put forward a more radical assessment: he recently stated that combining AI with humanoid robots will drive the global economy to more than double in less than 10 years, and views the mass production of humanoid robots as a key milestone for this shift. The two views share clear logical alignment: Anthropic’s calculation focuses on the economic impact of large-scale automation of knowledge work by AI, while Musk extends AI’s capabilities to the physical world, arguing that after humanoid robots enter mass production, automation will expand from the digital realm to real-world production. However, Anthropic clarified that its current model does not yet include humanoid robots with superhuman capabilities. The firm’s survey of 10,980 U.S. respondents found that their typical expectation only translates to a 10% higher GDP in 2030 than in the no-AI scenario, with only around 10% of respondents offering judgments close to the extreme scenario.