Important News from Last Night and This Morning (September 6 - September 7)

A total capital increase of 360 billion yuan, 8 central financial institutions supplement capital

Eight central financial enterprises, including the Industrial and Commercial Bank of China, Agricultural Bank of China, Export-Import Bank of China, China Export & Credit Insurance Corporation, China Life Insurance Group, China Reinsurance, and others, announced capital increase plans totaling approximately 360 billion yuan to supplement their core tier one capital and enhance their ability to serve the real economy. Among them, ICBC and ABC plan to issue A-shares to the Ministry of Finance, China National Tobacco Corporation, and related subsidiaries, aiming to raise no more than 100 billion yuan and 160 billion yuan, respectively; the Ministry of Finance plans to inject 30 billion yuan and 10 billion yuan into the Export-Import Bank and the Export Credit Insurance Corporation, respectively; China Life plans to issue A-shares to the Ministry of Finance to raise no more than 15 billion yuan, and the Ministry of Finance plans to inject 35 billion yuan and 7 billion yuan into China Life Group and China Re, respectively, and subscribe to 3 billion yuan of domestic shares of China Re in cash.

Offchain co-founder clarifies: Remaining ARB locked supply accounts for only 7.7% of total supply, the rest mainly held by DAO treasury

Steven Goldfeder, co-founder of Offchain Labs, clarified on the X platform that there is a significant misunderstanding in the market regarding the supply structure of ARB tokens, as some data includes tokens held by the DAO in the "locked" category. The unlocking plan for ARB investors and team members is nearing completion and is expected to be fully unlocked by March next year, at which point the remaining locked tokens will account for only about 7.7% of the total ARB supply. Goldfeder added that a large amount of ARB is actually stored in the Arbitrum DAO treasury, which currently holds about 2.84 billion ARB. These tokens are not locked in the traditional sense, but their circulation is entirely determined by votes from ARB holders, and the DAO can only access this portion of assets through governance votes from other token holders.

Pons and Fomo's protocol revenue exceeded Hyperliquid in the past 24 hours

According to DefiLlama data, in terms of protocol revenue, Pons and Fomo earned approximately $1.85 million and $1.77 million in the past 24 hours, respectively, both exceeding Hyperliquid's approximately $866,500. The three ranked 4th, 5th, and 7th in protocol revenue. In the past 7 days, Pons and Fomo earned $7.16 million and $7.06 million, while Hyperliquid earned $13.06 million.

Data: APT, LINEA, CHEEL, and PEAQ tokens will see significant unlocks next week

Token Unlocks data shows that tokens such as APT, LINEA, and CHEEL will see significant unlocks next week, including: Aptos (APT) will unlock approximately 11.31 million tokens at 6 PM Beijing time on September 11, accounting for about 0.65% of the circulating supply, valued at approximately $7 million; Linea (LINEA) will unlock approximately 960 million tokens at 7 PM Beijing time on September 10, accounting for about 3.01% of the circulating supply, valued at approximately $2.6 million; Cheelee (CHEEL) will unlock approximately 6.42 million tokens at 8 AM Beijing time on September 13, accounting for about 0.79% of the circulating supply, valued at approximately $2.3 million; peaq (PEAQ) will unlock approximately 84.84 million tokens at 8 AM Beijing time on September 12, accounting for about 3.41% of the circulating supply, valued at approximately $2.1 million.

AI giants intensively launch new models, causing "model fatigue"

This week, Anthropic, OpenAI, Meta, and Google have released multiple large models and upgraded versions, leading to a phenomenon of "model fatigue" in the market. Anthropic launched Claude Fable 5.1 and Claude Mythos 5.1, Meta released Muse Spark 1.3, Google launched Gemini 3.8 Flash, and OpenAI released GPT-6 Astra, focusing on cybersecurity and computing capabilities. Meanwhile, Nvidia announced the acquisition of the open-source AI platform Hugging Face for $12.9 billion and continues to release open-source models. Due to constraints in computing resources and unclear regulations, enterprises and developers face rising costs and increasing security risks in model selection and evaluation.

WOO X reported withdrawal issues, multiple users' funds stuck in processing

On-chain detective ZachXBT reported that multiple verified WOO X users claimed that their withdrawals have been in pending or processing status for the past three days, with some transactions being canceled. ZachXBT pointed out that WOO X was acquired by FusionX Digital in the fourth quarter of 2025, a company reportedly related to BitMart founder Sheldon Xia. As of the time of publication, WOO X has not issued a statement regarding the withdrawal issues.

Solana co-founder Toly counters Arbitrum co-founder: Single sequencer model incurs higher costs

In response to Arbitrum co-founder Steven Goldfeder's statement that one should not fall into the "narrative trap" of simply comparing on-chain transaction prices, Solana co-founder Toly countered that the current buy-sell spread on Arbitrum is larger, and the fees are also higher. The cost corresponding to the 10% cut from the fees is already higher than the sandwich trading fee rate. If the worse spread is taken into account, the overall cost is estimated to be about 10 times higher. The single sequencer model, which pursues maximizing shareholder interests, will never be able to beat permissionless market competition. Goldfeder previously pointed out that both Arbitrum One and Robinhood Chain actively prevent harmful MEV such as frontrunning, and some chains that promote low fees actually have higher MEV costs, with retail investors potentially bearing additional losses through frontrunning and sandwich trading as "hidden costs".

Harmony plans to shut down its mainnet and migrate ONE to Ethereum, shifting to AI video remix business

Harmony released two proposals to fully shut down its mainnet launched in 2019 and migrate its native token ONE to Ethereum, shifting to an AI video "remix economy" business. The team stated that threats from nation-state attackers and AI agents are the reasons for proposing the network shutdown plan. The migration plan aims to take snapshots of user wallets, staking delegations, validator rewards, smart contracts, and tokens in centralized exchanges at the last block of the network, airdropping new ONE tokens to the same wallet addresses on Ethereum, with holders not needing to actively claim; delegated stakes and unclaimed rewards will be airdropped to their respective governance treasury. The total supply and issuance rate of ONE will remain unchanged, and newly issued tokens are intended for the new business, with feedback from governors being sought. Multi-signature wallets, liquidity pools, and on-chain applications cannot be migrated, and the team urges users to exit all smart contracts by September 10, 2026, and plans to publicly disclose token contracts, snapshot calculations, and airdrop scripts for auditing. Validators can stop running nodes starting at 10 PM Beijing time on September 10. The team plans to compensate for the difference in issuance rewards between the node shutdown and the final block of the network, establishing a one-time compensation pool of $1.372 million to be paid in four quarters to validators and their delegators who timely shut down, sign agreements, retain stakes, and serve as governors of the new project. The new business will open prompts and materials for users to create secondary creations, with AI agents expanding video stories and recruiting operators responsible for video generation, distribution, and content review. Harmony plans to subsidize GPU hardware in the first year and promote video generation demand, with operators needing to stake tokens to earn rewards based on service online time. The team plans to help operators generate up to $1 million in total revenue in the first year, provided they meet staking and online rate requirements; promoters can initially earn a 30% ongoing commission from the $10 monthly subscriptions they recommend. Both proposals are non-binding and may still be adjusted.

KOSPI index in South Korea opens up 3.34%, SK Hynix rises 5.4%

Market data shows that the KOSPI index in South Korea has surpassed 6900 points, rising 3.34% at the opening. Samsung Electronics rose 4.5%, and SK Hynix rose 5.4%.

Liquid Network suffers $320 million Bitcoin theft by "white hat" hackers, sidechain has been suspended

Liquid Network experienced a security incident, with approximately 4000 Bitcoins (currently valued at about $320 million) stolen by "white hat" hackers from its Federation wallet. This theft accounts for about 95% of Liquid's reported Bitcoin reserves, which were approximately 4200 Bitcoins before the incident. The Liquid sidechain has been suspended, and major exchanges have also paused deposits and withdrawals of LBTC. Network technology provider Blockstream is working to contact the responsible parties. According to Liquid, the funds were withdrawn using SideSwap PAK (i.e., Peg-out authorization key). The network stated that this key and other keys were not compromised. Liquid did not explain the fundamental vulnerability that led to this withdrawal. Liquid has notified some cryptocurrency exchanges to pause or are about to pause deposits and withdrawals of LBTC (Liquid's Bitcoin-supported token). Liquid has also temporarily closed bridging nodes to prevent new transactions from being submitted to the network. Other assets issued on Liquid, including USDT, DePix, and RWA, were not affected by this security incident.

ZEC skyrockets to $1200 in three months, largest short whale Garrett Jin incurs a loss of $25.7 million

As the price of ZEC surged from $400 to over $1200 in three months, the largest short holder Garrett Jin faced a loss of $25.7 million, having shorted 32,760 ZEC at the beginning of July at a price of $444. This whale also holds a long position of $107 million in BTC, with a floating profit of $4.42 million, but has paid a funding fee of $2.05 million.

Hyperliquid development team redeems 433,000 HYPE, monthly interest income will be unstaked and transferred out

The Hyperliquid development team, HyperLabs, received 433,000 HYPE (worth $38.14 million) that was applied for redemption 7 days ago, 12 hours ago, and then transferred to 11 addresses 9 hours ago. Now they will unstake and transfer out several hundred thousand HYPE every month, which is basically the monthly interest income: their 241 million HYPE (worth $21.2 billion) generates a daily staking interest of 14,400 HYPE (worth $1.26 million), and the monthly staking interest is exactly the amount transferred out each month.

Jensen Huang congratulates OpenAI on the launch of GPT-6 Astra, declaring the arrival of the AGI era

Nvidia CEO Jensen Huang congratulated the OpenAI team on the X platform, stating that GPT-6 Astra was trained on over 100,000 NVIDIA Grace Blackwell NVLink72 GPUs, taking 4 years from ChatGPT to O1 to Astra. He boldly stated, "The AGI era has arrived." Additionally, Huang mentioned that the next phase will see 400,000 GPUs coming online in succession.

Mainstream Meme coins in the Robinhood ecosystem drop, PONS falls over 15% in 24 hours

According to GMGN data, mainstream Meme coins in the Robinhood ecosystem have generally dropped, including: 1. MEME market cap is currently reported at $89.9 million, with a 6-hour drop of 25.08%; 2. PONS market cap is currently reported at $560 million, with a 24-hour drop of 15.11%; 3. microduck market cap is currently reported at $23.11 million, with a 24-hour drop of 33.94%; 4. CASHCAT market cap is currently reported at $226 million, with a 24-hour drop of 8.3%; 5. AI market cap is currently reported at $195.6 million, with a 24-hour drop of 19.14%; 6. SHROOM market cap is currently reported at $33.4 million, with a 24-hour drop of 23.7%. Meme coin prices are highly volatile, and investors are advised to participate cautiously.

Senator Cynthia Lummis: If the Clarity Act does not pass in this Congress, the next opportunity for market structure legislation may not come until 2030

U.S. Senator Cynthia Lummis stated that if the Clarity Act does not pass in this Congress, the next real opportunity to reintroduce market structure legislation will not come until 2030. Completing this work now could avoid wasting job opportunities, investments, and tax revenues in the coming years.

AI Early Insights

Selected AI news worth paying attention to in the last 24 hours, helping you filter out AI noise.

Grok fully enters Salvador classrooms: AI tutoring pilot launched for over a million students

Summary: Elon Musk's xAI collaborates with the Salvadoran government to deploy Grok as a national AI tutoring system in over 5,000 schools, covering millions of students from kindergarten to high school. This is one of the largest implementations of large language models in public education.

OpenAI releases GPT-6 Astra developer documentation: Outstanding 3D model generation capabilities

Summary: OpenAI released the complete developer documentation for GPT-6 Astra, with Simon Willison providing an immediate interpretation. The new model performs impressively in 3D modeling, capable of generating detailed renderings of gardens, docks, urban landscapes, and even Dyson spheres.

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