Zhipu AI kicks off a roughly $5 billion financing round, with $2 billion in new share placements and concurrent issuance of $3 billion in convertible bonds.

According to GMGN data, the market capitalization of Solana-based meme coin Raydium Cat (RAYCAT) has exceeded $15 million, hitting an all-time high. The token is currently trading at $14.5 million, with a 24-hour gain of 350% and a trading volume of $3.4 million over the same period. Just dozens of minutes ago, the official Fomo platform announced that Raycat has been listed and verified on its platform. RAYCAT launched on the StonkFun platform, directly paired with RAY. Each transaction incurs a 3% tax, which is proportionally distributed as RAY rewards to all holders. Additionally, StonkFun’s ecosystem flywheel continues to use platform revenue to repurchase and burn the token. In short, holding RAYCAT automatically grants holders RAY, the native token of Raydium. BlockBeats reminds users that most meme coins lack practical use cases, are highly volatile, and caution is required for investments.

Prominent trader Bonk Guy has responded to criticism from the STONK community over his purchase of EMBER, calling the backlash "extremely exaggerated." Some community members argued his buy of another token launch platform token amounted to an attempt to challenge STONK’s industry standing. Notably, STONK’s second-largest holder previously acquired EMBER at a $2.8 million market cap and held a bullish stance for days without facing pushback, while Bonk Guy — who bought EMBER at roughly six times that holder’s entry valuation — was labeled a "villain," a clear case of double standards. Bonk Guy emphasized he remains bullish on STONK, explaining he has long focused on low-market-cap projects due to their higher risk-reward ratios, rarely buying large-cap tokens even when optimistic about their future performance. He added his EMBER purchase had no "PvP" (player-versus-player competition) intent, stating STONK and EMBER can absolutely succeed simultaneously, and the view that "only one winner can exist in a sector" runs counter to the core of the crypto industry. Per GMGN market data, EMBER — the platform token of Solana-based Ember Curve — surpassed $40 million in market cap today. Ember Curve is a new token launch platform built on Meteora. Bonk Guy noted EMBER is his first Solana ecosystem token buy in a long time, calling it one of the token launch platforms with the strongest fundamentals currently, backed by Meteora with robust resources and endorsements. He predicted EMBER’s market cap will exceed $100 million. For context, STONK is the platform token of Solana token launch platform StonkFun.

According to market data from BIT (bit.com), the three major U.S. stock index futures extended their rally: Dow Jones Index futures rose 1.11%, S&P 500 Index futures gained 1.09%, and Nasdaq 100 Index futures increased 1.23%.

Gasoline prices rebounding after two consecutive months of declines, U.S. consumer prices accelerated in August, boosting financial market expectations that the Federal Reserve may raise interest rates next week. The U.S. Bureau of Labor Statistics said Friday that the Consumer Price Index (CPI) rose 0.4% month-on-month in August, following a 0.1% increase in July. Consumer inflation rose 3.4% in the 12 months ending August, matching the July gain. August’s seasonally adjusted core CPI rose 0.3% month-on-month, exceeding the market forecast of 0.2%. Data released Thursday showed the Producer Price Index (PPI) rose in August, with several key components posting strong gains—components that feed into calculations for Personal Consumption Expenditures (PCE) inflation. Combined with last week’s strong August jobs report, this has further lifted market expectations for a rate hike next week. Following the release of August’s CPI data, markets are pricing in roughly a 90% probability that the Fed will raise rates next week. Some economists argue that price pressures will persist due to import tariffs—most recently those imposed on Canada, one of the U.S.’s largest trading partners. Discontent over rising prices, particularly gasoline and food costs, has led to a sharp drop in Trump’s approval rating and could cost his Republican Party control of Congress in the November midterm elections. Fed Chair Walsh said last month that if policymakers fail to gain sufficient confidence that inflation is moving back toward the 2% target, the Fed still “has work to do.”

Although U.S. August CPI rose at a faster pace, lifting rate hike expectations, with a roughly 90% probability of a Federal Reserve rate hike priced in for next week, and markets fully anticipating two additional Fed hikes by year-end, global markets still performed strongly after the widely expected move. In the crypto space, per HTX market data, Bitcoin briefly plunged to $76,046 in a short-term flash dip, and has since rebounded to $78,000. Ethereum broke above $2,500. In U.S. equities, per BIT (bit.com) market data, pre-market Dow Jones futures rose 0.8%, Nasdaq futures gained 0.82%, and S&P 500 futures advanced 0.73%. Per Bitget market data, spot gold has rebounded more than $70 from its post-CPI low, breaking above $4,360 per ounce, after earlier touching a low of around $4,290 per ounce.

According to HTX market data, Bitcoin has surged past $78,000, with a 1.14% gain over the past 24 hours.