The Nasdaq notched its largest decline since June, as US stock markets reassess the sustainability of the AI boom.

Beating AI Insight News: According to CNBC, artificial intelligence giant OpenAI is nearing the completion of a new funding round, paving the way for a potential initial public offering (IPO). Per people familiar with the matter, OpenAI is seeking to raise up to $30 billion at a pre-money valuation of $1.25 trillion. UAE-based investors are co-leading the round with investment firm Coatue, the sources said. OpenAI told investors on Thursday that it plans to finalize the signing of relevant agreements by the end of next week. However, the final size of the funding round is still being determined. OpenAI is positioning this round as an "opportunistic bridge financing" ahead of a potential IPO, per insiders. OpenAI Chief Financial Officer Sarah Friar previously told employees that the company could go public in 2027. Meanwhile, another source revealed that OpenAI is also negotiating a commercial agreement to secure more computing power resources from the UAE. (Source: Golden Ten Data APP)

According to Coinglass data, if Bitcoin falls below $80,000, the total long liquidation intensity on major centralized exchanges (CEXs) will reach $692 million. Conversely, if Bitcoin breaks through $83,000, the total short liquidation intensity on major CEXs will hit $1.025 billion. BlockBeats Note: Liquidation charts do not display the exact number of pending liquidations or the exact value of liquidated contracts. The bars on these charts actually represent the relative importance (intensity) of each liquidation cluster compared to adjacent clusters. Therefore, the liquidation chart shows the degree of impact when the underlying asset’s price reaches a specific level. A higher "liquidation bar" indicates that once the price hits that level, it will trigger a stronger reaction due to liquidity waves.

According to HTX market data, Bitcoin fell below $81,000, with a 4.3% decline in the past 24 hours.

Meme coin launch platform Pump.fun announced the launch of its EVM limit order functionality, claiming it is the first social trading application to offer take-profit and stop-loss features. The feature currently covers Robinhood, BNB Chain, Base, HyperEVM, Arc, and Ink, with more chains set to be integrated gradually.

a16z General Partner Chris Dixon has officially published an announcement renaming a16z crypto to a16z Frontier, expanding its investment scope from crypto startups to a broader set of frontier technology startups—those building new technologies, opening up new markets, and taking years to mature. Dixon emphasized this is a scope expansion, not a pivot; the team will continue investing in crypto and related businesses while advocating for reasonable crypto regulation. Dixon noted that as blockchain gains wider adoption, Wall Street and fintech firms have regularly launched on-chain products, making the "crypto company" label less significant. Companies should be defined by their core business activities, not the technology they employ. His remarks also touch on the ongoing AI wave: beyond using AI to speed up and enhance existing work, focus is on native new use cases emerging from AI, full-stack startups integrating hardware, software and services, and new networks connecting humans and intelligent agents. Dixon believes blockchain will still play a critical role in this space, serving as a fast, low-cost, global, programmable financial infrastructure for the internet. Stablecoins are becoming a standard tool for fintech firms and institutions, and can also support machine-to-machine transactions and the cold start of new networks. He will lead the fund alongside firm founders Marc Andreessen and Ben Horowitz, as well as general partners Eddy Lazzarin and Guy Wuollet. The operating team will continue supporting current and future portfolio companies in areas including regulation, market entry, talent, marketing and technology R&D.

New York State Department of Financial Services (NYDFS) has issued alerts regarding two critical PHP vulnerabilities, urging regulated entities to promptly identify and remediate the vulnerabilities that are already being exploited.