Three months after stepping down as CEO of DingTalk, reports say Chen Hang, who goes by the nickname Wu Zhao, has joined Qianwen Office.

Crypto-friendly bank Silvergate’s former CEO Alan Lane published an article reviewing the bank’s liquidation process, stating that Silvergate faced customer withdrawals equivalent to 70% of its demand deposits over several weeks in the fourth quarter of 2022, a scale of bank run that no U.S. bank had successfully weathered before. Lane noted that Silvergate had already conducted balance sheet and liquidity management tailored to the crypto industry’s high volatility at the time. Though forced to sell some highly liquid assets at a loss to repay secured loans, the bank still held sufficient capital and liquidity and remained solvent throughout. The 2022 crypto industry crisis led multiple funds and trading platforms to file for bankruptcy, prompting Silvergate’s clients to sharply reduce their dollar deposits and trigger a bank run. Subsequently, the Biden administration and multiple federal agencies launched investigations into Silvergate, and implemented regulatory policies restricting banks from providing services to the crypto sector. Lane argued that external criticism of Silvergate focused mainly on three areas: over-reliance on the crypto sector, interest rate risk, and regulatory compliance. He emphasized that business concentration does not equate to a lack of risk management, noting Silvergate had made specific plans for industry-specific risks. Additionally, the bank always held high-quality liquid assets to cope with deposit fluctuations, and claimed no regulatory body had found its anti-money laundering controls to be ineffective. After nine years of serving the crypto industry, Silvergate did not collapse due to insolvency or liquidity exhaustion, but voluntarily chose to cease operations under pressure. On March 8, 2023, Silvergate announced an orderly liquidation and cessation of operations.

Binance Alpha has listed 4Stock and Robinhood's on-chain meme coin MEME.

According to GMGN market data, 4Stock surged over 20% in a short period, currently trading at $0.055. MEME rose more than 7% in five minutes, now priced at $0.0923. Earlier reports noted that Binance Alpha has listed 4Stock and MEME.

Beating AI Express: OpenAI CFO Sarah Friar said GPT-5.6 Luna saw a 10x surge in usage after an 80% price cut at the end of July. Luna’s current API pricing is $0.20 per million input tokens and $1.20 per million output tokens. By mid-August, Luna’s token usage on OpenRouter had exceeded twice the combined usage of Anthropic’s Opus 5 and Sonnet 5. The growth wasn’t solely due to OpenAI’s official price cut: the company also offered an extra 50% discount on Luna and Terra via OpenRouter at the time, pushing Luna’s effective price to roughly one-tenth of its original level. Anthropic has started cutting usage costs. Its newly launched Fable 5.1 didn’t lower base input and output prices, but slashed cache read fees by 75%. Anthropic estimates average workload bills will drop around 25%, while tasks heavily using agents could see cuts of up to 45%. The price war comes as Anthropic prepares for its IPO. The company’s annualized revenue run rate surpassed $65 billion at the end of July, with its prospectus expected to be released this month. As model capabilities grow increasingly similar, if developers start switching models more frequently based on price, whether Anthropic can still charge premiums for its high-end models will be a key metric investors must reassess.

Aave has officially launched its official MCP server, allowing AI agents to access real-time protocol data for Aave V3 and V4 and prepare transactions. The server supports integration with MCP-compatible tools including ChatGPT and Claude, while users retain full control over transaction signing permissions.

According to market data from BIT (bit.com), US pre-market crypto-related stocks showed mixed performance. Specifically, CRCL rose 0.87%, MSTR gained 2.01%, HOOD advanced 1.09%, BMNR climbed 1.29%, BNC fell 3.79%, and RIOT dipped 0.15%.