Stablecoin payment platform Modern Treasury has applied to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank.

AI crypto investment application Virtuals Protocol announced in a post that its Virtuals App has entered closed beta testing. The official noted that the app is equipped with personal AI, a built-in wallet, and market integration, enabling users to discuss investment ideas, research assets, and execute trades within group chats. The Virtuals App is currently limited to iOS closed beta, requiring an invitation code to access.

According to HTX market data, ETH has just dropped below $2700, currently trading at $2694.72 per coin, with a 1.14% intraday decline.

Flash News from Insight: Beating AI. According to a Semafor report, Meta is laying off a group of employees it hired in June this year from AI security startup Virtue AI, with their collaboration lasting just around four months. Meta spokesperson Andy Stone told Semafor that the staff were let go due to "work style misalignment", noting the partnership did not develop as expected. In June, Dawn Song, UC Berkeley computer professor and founder of Virtue AI, announced she would join Meta’s Superintelligence Labs, alongside Virtue AI co-founders Bo Li, Sanmi Koyejo, and other team members. The recruitment was framed as Meta bringing in an independent team, not acquiring the entire Virtue AI. Virtue AI specializes in AI security testing, red teaming, vulnerability discovery, as well as model runtime protection and governance. Meta’s earlier onboarding of the team was viewed as aligned with its push for AI agent and superintelligence strategies, as well as strengthening AI security and frontier risk governance. Semafor reports that Meta stated the Superintelligence Labs will continue to focus on AI security, alignment, and frontier risks. However, Meta did not disclose specific disagreements between the two parties, nor has it confirmed whether core Virtue AI members like Dawn Song have all left Meta. As of the report’s publication, Virtue AI had not yet responded. The report adds that the rapid shift in this partnership has once again sparked external discussion on the "organizational mismatch" issue when top research teams join large tech firms—referring to potential conflicts between the autonomy, flexibility, and high decision-making efficiency startup teams are accustomed to, and the organizational processes and corporate culture of big tech companies.

Market news: Ray Dalio, founder of Bridgewater Associates, said the U.S. debt crisis could erupt within three years.

According to Bitget's market data, South Korea's KOSPI index fell 1% intraday, with Samsung Electronics down 1.6% and SK Hynix down 2.8%.

Insight: Beating AI Flash News – According to Semafor, Meta is laying off a batch of employees it hired in June this year from AI security startup Virtue AI, with the partnership lasting only about four months. Meta spokesperson Andy Stone told Semafor that the relevant personnel were let go due to "work style misalignment" and the collaboration did not develop as expected. In June this year, Dawn Song, a UC Berkeley computer professor and founder of Virtue AI, announced she would join Meta’s Superintelligence Labs, along with Virtue AI co-founders Bo Li, Sanmi Koyejo and other team members. The hiring was reported as Meta bringing in an independent team rather than acquiring the entire Virtue AI. Virtue AI mainly focuses on AI security testing, red teaming, vulnerability discovery, as well as model runtime protection and governance. Meta’s earlier recruitment of the team was seen as aligned with its advancement of AI agent and superintelligence strategies, and efforts to strengthen AI security and frontier risk governance. Semafor reports that Meta stated the Superintelligence Labs will continue to focus on AI security, alignment and frontier risks. However, Meta did not disclose the specific disagreements between the two sides, nor has it confirmed whether core Virtue AI members like Dawn Song have all left Meta. As of the report’s publication, Virtue AI has not responded. The report notes that the rapid shift in this partnership has once again sparked external discussion on the "organizational mismatch" issue when top research teams enter large tech companies – referring to potential conflicts between the autonomy, flexibility and high decision-making efficiency that startup teams are accustomed to, and the organizational processes and corporate culture of large tech firms.