Bitcoin traded just under $80,000 in Asian hours Friday after a nearly 2% gain over 24 hours and an overnight run to $81,280, with traders squaring up before Fed Chair Kevin Warsh's first Jackson Hole keynote.Solana ripped more than 4% to nearly $101 and 20% over seven days. Ether added just over 1% to roughly $2,492, XRP nearly 2% to about $1.43, and BNB more than 1% to nearly $714. Tron gained less than 1% at roughly 34 cents and Dogecoin sat flat near 9 cents. HYPE was the only major in the red, shedding under 1% to about $82.Warsh's First Jackson Hole Keynote Is the First Real Rate SignalJackson Hole is the Kansas City Fed's annual symposium in Wyoming, where the chair's speech has a history of moving markets. Warsh has so far given traders little on where he wants rates, making this the first substantive read before the September 16 FOMC meeting.That reticence is itself part of the setup. MUFG's Derek Halpenny expects Warsh to continue offering limited forward guidance and has warned the long end could face pressure absent credible fiscal consolidation measures. Fidelity's Jurrien Timmer has separately identified reduced Fed transparency as a driver of the term premium surge — less transparency means more uncertainty, and more uncertainty means higher risk premia. A chair who says little may be a bond-market event in its own right.The keynote is scheduled for 7:30 p.m. India time.Spot ETF Inflows Reach $2.8 Billion Across Eight SessionsUS spot products have absorbed $2.8 billion across eight consecutive sessions — the longest inflow streak since April. August flows have cleared $3 billion, making it the strongest month of 2026 with one trading day left.August needs one more session to pass October 2025 as the biggest inflow month since the funds launched. Another day of net buying through the keynote would get it there, and would show the bid holding against a chair who has not ruled out a hike.The comparison matters because October 2025 was the peak of the prior cycle's institutional enthusiasm, with Bitcoin trading just below its $126,000 record. Matching that flow level from $80,000 is a different behavioral signature — buying into a recovery rather than chasing a top.Iran-Oman Hormuz Agreement Pulls Brent Below $90Oil did the heavy lifting on the macro side. Brent eased to just under $90 a barrel and is down more than 5% on the week after Iran and Oman agreed terms on administering the Strait of Hormuz.That removes an energy-driven inflation shock from the table precisely as the Fed decides whether it is finished hiking. The Oman framework is the resolution the market had been pricing as a possibility since mid-August, when Tehran first signalled a separate arrangement conditional on the US lifting its naval blockade. Prior de-escalation signals throughout the conflict were bilateral statements that reversed within days; a third-party administration agreement is structurally different.The context makes the move consequential. Hormuz shipping had fallen to near zero — five vessels on one Saturday and none the following Sunday, against 31 the prior weekend — through a strait that normally carries a fifth of the world's oil. Brent had reached $94 after the 60-day ceasefire lapsed without a deal.The 10-year Treasury yield held at 4.67%, seven basis points lower on the week. The two-year sat at 4.23%, the dollar index hovered just above 99 and gold slipped to $4,587 an ounce.Nvidia's Guidance Adds $442 Billion in Market ValueNvidia's guidance — $96.2 billion in quarterly revenue and a third-quarter forecast above $105 billion — drove a 9% surge that added $442 billion in market value and lifted the Nasdaq 1.3%.The Wall Street Journal reported Nvidia had paused some deals in a new financing initiative that offered credit support to AI cloud providers in exchange for a share of revenue, citing people familiar with the matter. That detail cuts against the demand narrative in a specific way: vendor financing expands the addressable market by enabling purchases that would not otherwise clear, and pausing it suggests either caution about counterparty quality or a decision that the support is no longer needed.For the neocloud cohort — miners that pivoted to AI compute — that financing structure is directly relevant. IREN holds $2.8 billion in contracts across Microsoft, Nvidia, Perplexity and Figure AI.Ethena Leads the Top 100 on a Buyback Governance VoteEthena's ENA led the top 100, up 6% on the day and 45% on the week after a governance vote to route protocol revenue into buybacks and restructure venture unlocks.The weekly picture is broader than the daily one: Ether and XRP are both up close to 11%, Dogecoin 16% and HYPE 12%.The Divergence Between Hike Pricing and Bitcoin's GainFutures price a 35% chance of a rate increase in September and fully price a move by December — a hawkish setup that has not stopped Bitcoin from adding 9% in a week.That divergence is the position risk into the keynote. Bitcoin has rallied through rising hike expectations, which means a hawkish Warsh does not deliver new information so much as confirm what is already priced — but it would remove the ambiguity that has let the rally run.LMAX Group market strategist Joel Kruger sees limited downside from here. "Setbacks should now be limited, with the May high just below $83,000," he said.The Bitfinex analyst team framed the current price action structurally. "We now have a squeeze that has run into a defined population of sellers," the team wrote this week, pointing to spot demand absorbing overhead supply between $77,100 and $80,000.That description matches the Glassnode data. Nearly 8% of Bitcoin's supply was acquired between $80,000 and $82,000, the largest concentration at any comparable range, with roughly 5% at $80,000 alone. The average cost basis of US spot ETF deposits sits in the same band, and the 50-week moving average is at $81,081 — where Bitcoin was rejected earlier in the week at an $81,265 high.Absorbing that supply requires sustained spot demand rather than short covering, which is why the ETF streak matters more here than any single technical level.

一场姗姗来迟的革新，还是聊胜于无的姿态？SEC 代币融资新规解读。

JFIN released its unaudited financial report for the second quarter of 2026 on the evening of August 28, 2026. According to Sina Finance, the company said it continued to adjust its business structure, optimize customer acquisition, risk control, and operations, and expand its cash and cash equivalents to 504 million yuan at the end of the quarter. According to Sina Finance, JFIN said second-quarter facilitated transaction volume was about 9.5 billion yuan and revenue was about 737 million yuan, meeting its earlier performance guidance. Average loan size was 6,663 yuan, repeat borrowing accounted for 73.1%, and the 90-day-plus delinquency rate was 2.21% at the end of the quarter. The company said it reduced risk exposure in the second quarter to address tighter industry liquidity and improved collection efficiency, with the 30-day recovery rate rising quarter on quarter. It also said its self-developed Fuxi platform had completed infrastructure, risk-control, and core skill accumulation, while its credit modeling workflow had been scaled up and shortened from three to five days to hourly levels. Chairman Yan Dinggui said the company is expanding beyond a pure loan-matching platform toward a diversified platform centered on compliance, technology enablement, and ecosystem collaboration. He added that JFIN is continuing to increase strategic investment in artificial intelligence and overseas business.

Bitcoin's rally from roughly $62,000 to near $80,000 ran through one of the year's largest options expiries on Friday, clearing about 81,700 contracts worth $6.4 billion on Deribit at 08:00 UTC.Much of that positioning was built before Bitcoin surged more than 20% in a week.Max Pain at $68,000 Sat Roughly $12,000 Below SettlementBy Thursday, the rally had pushed Bitcoin directly into large concentrations of bets at $75,000 and $80,000, while the expiry's max pain level — where the largest number of options would expire worthless — sat much lower, around $68,000-$70,000.Max pain is a reference point for where the aggregate book had the least value at settlement, not a price magnet. A gap of roughly $12,000 between max pain and spot means the distribution of open interest was badly positioned for what actually happened. Calls at $75,000 and $80,000 that were far out of the money when written finished in or near the money.That gap is a measure of how unanticipated the move was. Positioning built during a six-week range between $61,500 and $66,900, with implied volatility at 2026 lows and BVIV around 35.59%, priced a narrow distribution of outcomes. The break through $66,600, $70,000, $75,385 and $81,265 in a single week fell well outside it.Post-Expiry Open Interest Is the More Useful SignalFriday's settlement removes those expiring positions from the market. That makes the next distribution of open interest more informative than the one traders were watching before the rally — it shows where bets are being placed after the move toward $80,000 rather than before it.The pre-expiry book was a record of expectations formed in a range that no longer exists. What rebuilds now reflects a market pricing Bitcoin from $80,000 with the 50-week moving average at $81,081 directly overhead and Glassnode data showing nearly 8% of supply concentrated between $80,000 and $82,000.Early indications point toward defined-risk upside structures rather than outright directional bets. Deribit's Jean-David Pequignot said call spreads "remain an appealing mechanism for upside exposure into September," noting that puts remain relatively expensive, which makes calls the cheaper wing of the skew to buy. 10x Research founder Markus Thielen has favored selling $90,000 September calls against spot, or a September 85/95 call spread.Implied Volatility Rose Through the Rally Rather Than FallingThe rebuilt book faces materially different pricing than the expired one. BVIV climbed to 47% from 36% a week earlier — an unusual move higher during a price rally, since implied volatility typically spikes on selloffs.The rise reflects a widened distribution of outcomes rather than fear. While Bitcoin sat range-bound, options markets could price a narrow band of likely results. Once the range broke, the plausible range of future prices expanded in both directions, and sellers require more premium to underwrite that.For anyone rebuilding positions after Friday's expiry, options are simply more expensive than they were when the expired book was written. Structuring as spreads rather than outright purchases is how traders reduce that cost.The Backdrop Into SeptemberThe expiry clears with a dense catalyst calendar immediately ahead. Fed Chair Kevin Warsh delivered his first Jackson Hole keynote Friday, three weeks before the September 15-16 rate decision, with shorter-dated Treasuries having fallen overnight as traders added to rate-increase bets.September has historically been a mildly bearish month for Bitcoin, averaging a negative 3% return since 2013 according to Coinglass data. That seasonality, combined with expensive options and the supply wall at $80,000-$82,000, is why both Deribit and 10x Research have pointed toward capped-risk structures rather than outright long exposure for the next leg.

US parents and teens told BBC reported that Meta’s new restrictions on Instagram, Facebook and WhatsApp are welcome but unlikely to solve the harms they see from social media. The changes, announced this week as part of an $18bn (£13.25bn) settlement with US states, include a two-hour daily time limit, hidden like counts, no autoplay on videos, muted push notifications during school hours and a ban on extreme make-up filters. Meta also said it would change age verification and parental controls and appoint an independent auditor to check the measures are implemented and maintained. The settlement, announced on Wednesday in the middle of a trial, did not include any admission of fault. It followed a lawsuit filed in 2023 by 29 US states alleging Meta deliberately designed its platforms to be addictive and lied about risks, and accused it of violating a federal law on collecting children's personal information. The settlement covers 48 states, plus the District of Columbia and three US territories.

U.S. District Judge Rita Lin issued a 59-page ruling granting Anthropic partial summary judgment in its lawsuit against the Trump administration. According to ChainCatcher, Lin found that the government unlawfully retaliated against Anthropic after it publicly رفضed to let the military use Claude for mass surveillance of U.S. citizens and lethal autonomous warfare tasks, violating the First Amendment, due process, and the Administrative Procedure Act. Lin also vacated the related designation and Defense Secretary Hegseth's restriction order, and she issued a permanent injunction. The dispute began after the Pentagon asked Anthropic to remove all usage limits and accept a clause allowing all lawful uses, while Anthropic kept its final two red lines. On February 27, 2025, U.S. President Donald Trump ordered all federal agencies to stop using the company's technology, and Hegseth later barred any military contractor from doing business with it. The government dropped key arguments during the case and acknowledged that Anthropic had no backdoor access to deployed models and that Claude's risk was no higher than other black-box systems. Lin said national security is not a blank check for punishment and noted that the government had been operating under a preliminary injunction since March without identifying any harm. Anthropic did not win on all claims, as the court rejected its argument that Trump's directive exceeded presidential authority. The company told the court that if the measures continued, defense-related revenue could fall by 50% to 100%, and overall 2026 revenue could lose billions of dollars.

According to Jin10, India's industrial output rose 6.7% year over year in July, above market expectations of 6.0%.

Peru’s military and soldiers confronted wildcat miners in the Amazon rainforest, with six miners fleeing by boat after warning shots were fired and another jumping into the water, according to Bloomberg. The miners left behind a makeshift camp that was later set on fire.

Alibaba Group Holding Ltd. and Moonshot are betting on free AI models now and fees later as China’s AI offerings remain inexpensive, according to Bloomberg. The companies have a new plan to raise revenue from their models.

CXMT Corp. said first-half revenue rose almost 10-fold and profit surged as demand for AI hardware increased, according to Bloomberg. The memory chipmaker has become China’s most valuable business.

Shinhan Financial Group has partnered with Visa to test stablecoin infrastructure, card settlements, AI-powered payments and B2B services in South Korea.

一家公司怎么可能在两年内，同时干掉微软、对抗 Anthropic，中间还完成了一次可能是创业史上最复杂的并购，然后还把自己的产品形态彻底颠覆了三次？

即便杰克逊霍尔年会主题给了加密话题“上桌”的机会，沃什本人是否愿意展开具体论述，仍存在相当大的不确定性。

存储,人工智能,内存不够 闪存来凑：AI 推理的底层逻辑正在重写 金色财经,每个人都被"内存不够"教育过。

SoftBank is seeking a $10 billion loan to help fund its huge OpenAI investment and partly repay a $40 billion bridge loan. The new financing adds to SoftBank’s plans for up to $20 billion in bonds and a $6.3 billion retail bond sale as it prepares to invest nearly $65 billion in OpenAI.

任何用人类的日历时间去衡量合成速度的人，都无异于用沙漏去测量光速。

Android 17 will hide website domains from network operators with Encrypted Client Hello, while also adding stronger app, certificate and data privacy controls. The update makes Android more secure by limiting what apps and networks can see, although ECH only works with websites and apps that support it.

比特币单周 23% 的涨幅，是 2023 年 3 月以来的最大周度涨幅。

Bitcoin Asia 2026 在香港会议展览中心继续进行，第二天下午活动中举行主题为“机构投资者如何利用比特币持仓创造收益”的圆桌讨论。