Meta Platforms said its latest in-house AI chips will start running in data centers next year, with another model due by the end of 2027, according to Bloomberg. The company touted the cost-saving benefits of the new processor.

YZi Labs shared its full thesis for EASY Residency S5. YZi Labs posted on X. The post directed readers to @jermywkh and included a prompt to read the full thesis for the program.

Bitcoin treasury company Strategy's market capitalisation has surpassed that of US automaker Ford, making it the 200th largest publicly listed company in the United States, according to BitcoinTreasuries.NET.The company holds 845,050 BTC, unchanged after making no purchases or sales last week.The Underlying Position Is Barely ProfitableThe milestone arrives at an awkward moment for the holdings that justify it.At roughly $76,000 per Bitcoin, Strategy's stack is worth approximately $64.2 billion. Its cost basis of $75,385 puts the acquisition value near $63.7 billion.That leaves the position up roughly 0.8% — around $520 million on a $63.7 billion outlay.A company can be the 200th largest in the US while its core asset sits fractionally above water, because market capitalisation reflects what investors will pay for the structure rather than the mark on the holdings. But the gap is worth stating plainly, because the ranking invites an assumption of accumulated gains that the cost basis does not support.Bitcoin cleared that cost basis in late August during the run from $62,000 to $82,284. It has been oscillating around it since.The Comparison Is to a Company That Makes ThingsFord operates factories, employs a large workforce, generates revenue from vehicle sales and services, and carries the associated capital intensity and cyclical exposure.Strategy holds Bitcoin and issues securities to buy more of it.Comparing the two by market capitalisation is arithmetically valid and analytically odd. One valuation rests on discounted future cash flows from an operating business; the other rests on an asset price plus whatever premium investors assign to the vehicle holding it.That premium is the whole question for Strategy shareholders, and it is not a question Ford's valuation involves at all.Strategy Is Buying Back Preferred Rather Than BitcoinThe capital allocation tells a different story from the milestone.The company repurchased 1.4 million shares of its STRC preferred for $139.3 million using cash on hand, while making no Bitcoin purchases. STRC trades at $98.64, modestly below its $100 par value.Total STRC buybacks have now reached roughly $635.2 million, with the authorisation doubled to $2 billion from $1 billion.A treasury company spending cash to repurchase its own preferred rather than acquiring the asset it exists to hold is making a specific judgment: that the discount on its securities offers better value than the asset at current prices.That is defensible capital allocation. It is also a different activity from what the market capitalisation ranking implies the company is doing.Strive Is Running the Opposite PlaybookThe contrast with the other Bitcoin treasury issuer is now several weeks old.Strive acquired 469 Bitcoin last week, bringing holdings to 25,000 BTC, funded by selling its SATA preferred stock — which continues to trade right around its $100 par value.SATA at par lets Strive keep issuing to buy Bitcoin. STRC below par gives Strategy reason to buy back instead.Same instrument type, opposite direction, determined entirely by where the security trades relative to its stated value. The mechanism connecting preferred pricing to Bitcoin accumulation runs through both companies in reverse.The Ranking Moves With Three VariablesThe 200th-largest position is not a fixed achievement.It shifts with Bitcoin's price, with the premium investors assign to Strategy's structure, and with the valuations of every company ranked near it. Ford's own market capitalisation moves independently.Bitcoin fell to around $76,000 Tuesday, losing the 50-week exponential moving average at $77,430 it reclaimed Monday and breaking below the $77,100 level Bitfinex analysts had identified as the floor of a spot absorption zone.MSTR was flat pre-market Monday.The Fed decides Wednesday at 2:00 p.m. ET, with markets pricing roughly 94% odds of a 25 basis point increase and the 10-year Treasury yield at 5.04%, its highest since July 2007.

Tokenization has brought stocks, treasuries, and private markets on-chain, and the next opportunity may be the products built on top of them. YZi Labs posted on X. The post said potential areas include lending, unified margin, derivatives, prediction markets, and new consumer experiences. It also said @jermywkh, Investment Director at @yzilabs, shared where the firm believes the next opportunities are emerging. The post added that early-stage founders building in the space can apply to @EASYResidency S5 by September 21.

An anonymous whale address beginning with 0x9d briefly opened a small short position earlier in the morning before closing it and reversing to a long position later in the evening. According to BlockBeats On-chain Detection, the address is now holding a 30x leveraged long position of 248.56 BTC. The position is valued at about $18.96 million. The Senate schedule places the procedural vote on the CLARITY Act at about 2:15 p.m. Eastern Time on September 15, which is 2:15 a.m. on September 16 in Beijing time. The vote is a cloture vote on the motion to proceed, requiring 60 votes to advance to the next legislative stage. It is not the final vote on the CLARITY Act and does not mean the bill has taken effect.

A 330-satoshi deposit allowed an attacker to create about 46.1 billion syBTC tokens on Symbiosis. According to NS3.AI, the deposit was worth about 25 cents. Symbiosis estimated losses at 9.97 BTC and took the bridge offline for a rewrite and independent audit.

OpenAI supports the bipartisan FRONTIER Act introduced in the U.S. House of Representatives, which would require leading artificial intelligence companies to use external evaluators to help ensure model safety. According to ChainCatcher, OpenAI Global Affairs Chief Chris Lehane said the company backs key provisions of the bill and met with lawmakers on Capitol Hill to discuss arrangements for independent verification organizations.

Rome-based Physical AI cybersecurity company Exein has completed a new 234 million euro funding round and reached a 1.4 billion euro valuation. According to ChainCatcher, the company said the round was led by Headline, with participation from Sofina, Goldman Sachs, the European Investment Bank Group, KfW Capital and T.Capital. J.P. Morgan also expanded its revolving credit facility alongside the financing round.

Bitcoin fell to around $76,000, down roughly 4.4% from the $79,530 it touched overnight and 7.6% below the month's $82,284 high.The US 10-year Treasury yield reached 5.04%, its highest since July 2007. It briefly topped 5% in October 2023 but failed to hold and pulled back quickly.QCP Capital described the setup before last week's CPI print: "This is the worst mix for Bitcoin: a competing 5% risk-free rate without the nominal-growth impulse that usually accompanies yield moves."That 5% is no longer hypothetical.Monday's Technical Reclaim Has FailedBitcoin reclaimed its 50-week exponential moving average at $77,430 on Monday after initially closing the weekly candle below it, a level flagged as a key support target for a bull-market comeback.At $76,000, that reclaim has been lost within two sessions.The break also takes price below the $77,100 floor of the zone Bitfinex analysts identified as where spot demand had been absorbing overhead supply between $77,100 and $80,000.A level reclaimed and then lost carries the opposite implication of one that breaks and recovers. Friday's dip to $76,046 was bought within the session; this one has not been, and Bitcoin now sits at roughly the same level without the immediate rebound that followed it.Above price, the 50-week simple moving average sits at $81,081 and remains uncleared, with nearly 8% of total supply acquired between $80,000 and $82,000 per Glassnode — the largest concentration at any comparable range.The Fiscal Composition Is the Remaining Bull CaseThe argument for why Bitcoin should hold rests on why yields are rising rather than how far.This ascent is fuelled primarily by fiscal sustainability concerns rather than robust economic expansion. Higher yields driven by growth compress the appeal of non-yielding assets while the growth supports risk. Fiscal-driven yields carry no such offset, and signal investors demanding more compensation to hold government paper at all.On that reading, the move should not penalise gold and Bitcoin the way a growth-driven rate spike would. Bitcoin's 90-day correlation with the 10-year sits at −0.17 against gold's −0.41.Tuesday tests that argument directly. Bitcoin is falling anyway.Mischler Financial's Tom di Galoma listed the drivers as rate expectations, corporate and government debt supply, growth prospects and the long-term fiscal path. "Our budget, deficit, and overall debt structure continue to expand," he said. National debt approached $40 trillion in August, and the 10-year has surged 80 basis points this year with 25 in September alone.Thin Leverage Cuts Both WaysThe positioning explains the size of the swings rather than their direction.ARP Digital partner Yusuf Fakhro noted funding rates drifting toward zero, futures premiums below 5% and open interest stalled.Thin leverage means no pile of forced sellers waiting to be liquidated. It also means nothing anchors price, so each headline pushes Bitcoin further than it should.Last week showed it. Bitcoin ripped 5% to $81,000 Thursday on softer Fed signals, then gave the entire move back within hours when strong payrolls revived hike expectations. Monday's move to $79,427 and Tuesday's slide to $76,000 is the same pattern compressed.The overnight pullback was marked by taker selling in futures, according to Marex, with open interest hovering below 680,000 BTC. Santiment data shows BTC-denominated open contracts fell 13.5% between September 3 and 11 against a 5% price decline, leaving positioning roughly 20% below pre-rally levels.Puts Have Turned Pricier Than CallsBitcoin put options are once again slightly more expensive than calls.Laevitas noted seven-day 25-delta skew moved from +2.16v to −1.05v, a 3.21v shift week-over-week, with 30-day going from +1.33v to −1.39v.The seven-day tenor is where it is most pronounced, capturing the Senate's Clarity Act vote, Wednesday's Fed decision and Friday's Bank of Japan meeting.Bitcoin's 30-day implied volatility index and ether's equivalent have both ticked higher but remain well below February and June highs — measured hedging rather than a scramble.Ether and Solana carry mildly negative funding, implying a slight short bias that could fuel a squeeze on a favourable catalyst.The BOJ Decision Is the One Crypto Should WatchThree central banks decide within three days, and the least-covered carries the most direct transmission.Markets price a 94% chance of a 25 basis point Fed hike Wednesday, lifting the target range to 3.75%-4.00%. The Bank of England follows Thursday with its benchmark at 3.75%. The Bank of Japan is expected to raise to 1.25% Friday.Those follow last week's ECB increase to a 2.65% main refinancing rate.The yen has long funded positions in US stocks and Treasuries through the carry trade, and a rate increase raises that funding cost directly. Japan's 10-year touched 3% this month for the first time in three decades.Carry unwinds produce mechanical selling of dollar assets regardless of any view on those assets — the one channel Bitcoin's low rate sensitivity does not insulate it from, because forced liquidation does not respect correlation coefficients.US Demand Is Sitting on Its HandsCMC head of research Alice Liu identified the geographic split."BTC open interest is down about 3.5% over seven days alongside price, and the Coinbase premium has turned slightly negative, which tells you US spot demand is sitting on its hands," she said.Bitcoin trading at a discount on Coinbase relative to offshore venues is the clearest expression of that.Liu noted spot Bitcoin ETFs saw around $300 million of net outflows over five sessions before a $160 million inflow Monday. Bitcoin exchange-traded products took in nearly 14,000 BTC over a recent week, including 10,700 BTC on September 3 — the strongest single day since April 2025.The demand has not disappeared. It has paused.XRP and Zcash Held While the Rest SlippedEther continues trading choppily between $2,350 and $2,550, with occasional spikes to $2,600, following a steep August rally.XRP was the standout, up more than 2% to $1.41, with Zcash adding nearly 3% to about $1,149. Ether, BNB, Tron, Hyperliquid's HYPE and Dogecoin all slipped by less than 1%, and Solana was flat just above $101.Over seven days Dogecoin is down 7%, HYPE 5% and BNB 3%.Tanker Rates Passed $1 Million a DayThe inflation input driving the rate repricing produced a figure worth isolating.The cost of hiring an oil tanker for the benchmark Middle East to Far East route topped $1 million per day for the first time ever, per Bloomberg's Javier Blas. A year ago it was under $100,000.That tenfold increase is not priced into the barrel. It sits on top of it and passes through to every refined product moved by sea from the region.Saudi Arabia closed the East-West pipeline running to the Red Sea port of Yanbu, which exists specifically to bypass the Strait of Hormuz. With Hormuz disrupted, the bypass shut and Bab El-Mandeb now under threat, Saudi production fell to 6.238 million barrels per day — the lowest since 1990. Brent traded above $107.An export bottleneck unwinds only when a route reopens, which is why this feeds the inflation case in a way monetary policy cannot reach.The Fed decides Wednesday at 2:00 p.m. ET with updated projections and a Warsh press conference.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on AI, DeFi, DAO, NFT, and the metaverse.

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Robinhood's on-chain stock DEX traded over $3 billion in 63 days, prompting the chairman of AMC to question whether the company's permission was required.

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Dario Amodei has admitted for the first time that the industry has long concealed AI risks and proposed a three-step rate-limiting framework, which has drawn fierce backlash from the open-source camp.

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Saifedean Ammous, author of "Bitcoin Standard," argues that Bitcoin's electricity consumption may have peaked and may never again consume as much electricity as it did in 2024-2025.