Headline
▌Kimi Secretly Submits IPO Application to Hong Kong Stock Exchange, Officially Launching its IPO
On September 2nd, media outlets learned that Kimi, the company behind the company's IPO, confidentially submitted its A1 form to the Hong Kong Stock Exchange this week, officially launching its Hong Kong IPO process. The A1 form is one of the formal application forms submitted by companies applying for listing on the Hong Kong Stock Exchange. Kimi responded to the news by saying, "We will not comment on market rumors, and there is currently no information to disclose." It is also understood that Kimi is currently pursuing a new round of financing at a pre-money valuation of $50 billion. This is very likely Kimi's last round of financing before its IPO.
(LatePost) ▌US Commerce Secretary Says Interest Rates Will Fall Within Six Months ▌US Commerce Secretary Lutnick said that interest rates will stabilize and begin to decline within the next six months. (Watcher.Guru) Market Data As of press time, according to CoinGecko data: BTC price is $77,119.49, a 24-hour change of -0.2%; ETH price is $2,383.69, a 24-hour change of -1.5%; BNB price is $686.69, a 24-hour change of +0.8%. SOL price is $99.85, a 24-hour change of -0.1%; DOGE price is $0.08133, a 24-hour change of -0.5%; XRP price is $1.35, a 24-hour change of -0.3%; ZEC price is $811.83, a 24-hour change of -1.6%. The price of TRX is $0.3249, a 24-hour change of +0.5%; the price of WLFI is $0.05594, a 24-hour change of -1.2%; and the price of HYPE is $81.66, a 24-hour change of -1.3%.
Policy
▌Bessenter: Digital Asset Stakeholders May Be Targeted by Sanctions
US Treasury Secretary Bessenter stated that the US is communicating with stakeholders supporting Iran, warning airlines, shipping companies, and digital asset stakeholders that they may become targets of a new round of sanctions. The US will systematically eliminate bad actors related to the Iran issue and advises all parties to stay away from related transactions and cooperation on the issues of Iran and Russia, and not to provide support to the aforementioned regimes.
▌Trump: Ready to Strike Iran Again, We Have Complete Control of the Strait
On September 3, local time, US President Trump met with US tourism industry executives at the White House on Wednesday, during which he again discussed the Iran issue. Trump stated, "The Iranian regime is collapsing, and a new round of strikes against Iran will not last long. We are prepared to strike Iran again. We have complete control of the Strait of Hormuz, exporting millions of barrels of oil from here every day. I hope domestic retail gasoline prices will come down."
▌Trump Proposes Renaming the Strait of Hormuz to "Trump Strait"
On September 2, US President Trump: Now that we, the United States, have control of it, shouldn't we rename the Strait of Hormuz to "Trump Strait"? Like the United States itself, this name will be more "hot" than ever before!
Blockchain and AI Applications
▌Nvidia CEO Jensen Huang Urges G20 to Accelerate AI Applications to Boost Economic Growth
On September 2nd, at a technology event in North Carolina, USA, Nvidia CEO Jensen Huang called on G20 members to accelerate the application of artificial intelligence to drive economic growth and urged major economies around the world to expand data centers and other infrastructure to support this emerging technology. Huang stated, "Every country needs to build infrastructure to support its economy." He likened the technology to water, electricity, and other utilities. He said, "It's a great equalizer." In his speech, Huang stated that for a country, the "worst outcome" is "falling behind." He warned that this could happen if the public and policymakers allow concerns about AI to dominate discussions about the technology.
▌Kimi API Now Natively Supports Codex and Claude Code
The Dark Side of the Moon announced that, to meet the needs of users accessing the Kimi API in Codex and Claude Code, the Kimi API now supports OpenAI's Responses API format; it also supports Anthropic's Messages API format. Users of Codex or Claude Code can directly connect to models such as kimi-k3, kimi-k2.7-code-highspeed, kimi-k2.7-code, and kimi-k2.6 through a custom model provider without needing to convert the format or use a local proxy.
▌Kimi API Now Natively Supports Codex and Claude Code
The Dark Side of the Moon announced that, to meet the needs of users accessing the Kimi API in Codex and Claude Code, the Kimi API now supports OpenAI's Responses API format; it also supports Anthropic's Messages API format. Users of Codex or Claude Code can directly connect to models such as kimi-k3, kimi-k2.7-code-highspeed, kimi-k2.7-code, and kimi-k2.6 through a custom model provider.
▌Physics AI Company Lyte Raises $165 Million in Series C Funding, Led by Maverick Silicon
On September 2nd, according to Bloomberg, physics AI company Lyte announced the completion of a $165 million Series C funding round, led by Maverick Silicon, with participation from Fidelity Management & Research, Atreides Management, Key1 Capital, and Ora Global. The post-money valuation reached $1.6 billion. Founded in 2021 by former Apple and PrimeSense engineers, Lyte focuses on providing robots with a complete perception technology stack, from custom chips and multimodal sensors to spatial software. To date, the company has raised a total of $272 million. This round of funding will be used to expand the production scale of perception chips and its LyteVision platform, and to advance AI perception capabilities and the commercial deployment of robots.
▌Upwind Security Raises $300 Million, Valuation Reaches $3.8 Billion
According to Bloomberg, AI and cloud security startup Upwind Security has raised $300 million in a new funding round, led by Bessemer Venture Partners, valuing the company at $3.8 billion post-money. The new funds will be used to expand the AI security capabilities of its core cloud security platform.
Cryptocurrency
▌CZ: Some Hot Money is Flowing Back from AI to the Crypto Market, the Financial Industry Won't Disappear
On September 3, Binance founder CZ stated that some "hot money" is flowing back from the AI field to the crypto market. The financial industry won't disappear; both individuals and AI will still need funding in the future.
▌Wintermute: RWA May Become a New Liquidity Channel for the Next Crypto Bull Market
On September 2nd, Windtermute published an article stating that the crypto market has rebounded in the past two weeks, with ETF inflows turning positive and stablecoin issuance stabilizing. However, to start a complete new cycle, the market still needs new sources of funding. Historically, VC and ICOs in 2017-2018, stablecoins in 2020-2021, and ETFs and digital asset treasury companies in 2024-2025 have all accelerated bull market processes. RWA may become the next important liquidity channel. Data shows that stablecoins saw a net issuance of over $120 billion in one year; ETFs saw a cumulative net inflow of $63 billion, and digital asset treasury companies saw a cumulative increase in holdings of over $115 billion. In comparison, RWA has attracted approximately $16 billion in funds over the past 12 months, only about one-tenth of the peak of ETFs and treasury companies in the previous cycle.
▌DayDayCook Adds 516 Bitcoins, Total Holdings Reach 2899
US-listed company DayDayCook added 516 Bitcoins, bringing its total holdings to 2899, worth $223 million. The company launched its Bitcoin reserve strategy in March 2025. (Bitcoin Archive)
▌Axel Adler Jr: Bitcoin Market Sentiment and Price Momentum Diverge, Correction Risk Rising
CryptoQuant analyst Axel Adler Jr stated that the Bitcoin sentiment index is in the extreme greed zone, but the price has fallen from $78,700 on August 24th, indicating that the rising market sentiment lacks price momentum support.
The current high sentiment index is driven by the fear and greed index, with a Z-score of +2.19σ, indicating only mild optimism among participants. This combination of extreme optimism and a lack of sustained price increases makes the market more sensitive to weakening demand. If high sentiment persists without corresponding demand and price increases, the market faces the risk of a correction.
▌Whale address VBVIT shorts BTC, ETH, and US stocks, with short positions reaching $137 million
Whale address VBVIT has heavily shorted BTC, ETH, and US stocks, with total short positions of approximately $137 million and unrealized profits of approximately $2.6218 million.
This address holds short positions in 839.45 BTC worth $64.3196 million, 11,851.47 ETH worth $28.1247 million, and 522.16 xyz:XYZ100 worth $15.0916 million. This address is currently the largest short seller on Hyperliquid for 14 US stock instruments.
▌Robinhood Chain's revenue reached $8.26 million in the past week, ranking first in the Ethereum ecosystem
According to growthepie data, the top five Ethereum ecosystem chains in terms of revenue over the past 7 days are: Robinhood Chain $8.26 million, Ethereum mainnet $2.48 million, Base Chain $840,000, and Polygon PoS $540,000. Robinhood Chain's revenue increased by 1653% week-over-week, ranking first among all chains in the Ethereum ecosystem.
▌Binance Alpha lists FLORD and PONS
On September 2nd, Binance Alpha listed FLORD and PONS.
▌Saudi Oil Exports Plunge, Increased Risk of Tanker Attacks in the Strait of Hormuz and Red Sea
On September 2nd, Saudi Arabia's observable crude oil exports plummeted to their lowest level in at least nine years last month due to escalating tensions in the Middle East. Tanker tracking data compiled by Vortexa, Kpler, and others showed that Saudi Arabia's observable crude oil exports in August were approximately 3 million barrels per day, the lowest level since records began in early 2017. This data is consistent with the assessments of crude oil traders and a person familiar with Saudi oil operations. Attacks on Saudi ships in the Red Sea by Yemen's Houthi rebels threaten shipping routes that Saudi Arabia has long used to avoid the Strait of Hormuz. The ongoing attacks have panicked Saudi Arabia's customers, some of whom are now unwilling to use Saudi Arabia's Red Sea ports.
▌Bessenter: We will reinstate tariffs
On September 3, U.S. Treasury Secretary Bessenter stated: We will reinstate tariffs.
▌The probability of the Fed keeping interest rates unchanged in September is 37.7%
On September 3, according to CME's "FedWatch": the probability of the Fed keeping interest rates unchanged by September is 37.7%, and the probability of a cumulative 25 basis point rate hike is 62.3%. The probability of the Fed keeping interest rates unchanged by October is 27.2%, the probability of a cumulative 25 basis point rate hike is 55.5%, and the probability of a cumulative 50 basis point rate hike is 17.2%.
Golden Encyclopedia
▌Can Bitcoin Still Be Called "Digital Gold" During Geopolitical Crises?
Every geopolitical crisis causes gold prices to rise while Bitcoin prices plummet. After six tests, the claim of "digital gold" has never been supported by data. Countries hoard gold but exclude Bitcoin from their reserves. For investors, Bitcoin exhibits asymmetry: it falls with stocks but does not rise with them. Three structural asymmetries prevent Bitcoin from achieving safe-haven status: an oversupply of derivatives (market structure), the dominance of leveraged traders (participant composition), and a lack of repeatable behavioral records (behavioral accumulation).
Bitcoin is not a safe-haven asset, but it is a "crisis-useful asset," which can indeed function when borders are closed and banks fail. If these three asymmetries are reduced, Bitcoin may no longer be a replica of gold but rather a completely new "next-generation gold."
Generational shifts and the widespread application of algorithms are key factors that could accelerate this process.
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