Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

According to an official announcement, Upbit will end trading support for Synthetix (SNX) at 14:00 on September 28. The affected trading pair is SNX/BTC. Users must complete withdrawals by October 28; related assets will not be processed after the deadline.

According to Bitget's market data, spot silver has broken through the $70 per ounce threshold, currently trading at $70.2, with an intraday gain of 1.4%.

French Bitcoin reserve-listed firm Capital B (The Blockchain Group) announced the completion of a private placement round, issuing roughly 36.22 million warrant-linked shares (ABSA) to global institutional investors at €0.58 per share, generating gross proceeds of around €21 million, with net proceeds of approximately €19.9 million after related expenses. The round’s strategic investors include Bitcoin early developer Adam Back and asset management firm TOBAM, while Maxim Group acts as the exclusive placement agent. Capital B stated the funds will be used to advance its Bitcoin treasury strategy, with plans to acquire an additional ~270 BTC. Upon deal completion, the company’s Bitcoin holdings are projected to rise to around 3,415 BTC.

According to Bitget market data, South Korea’s KOSPI index closed down 123.48 points, or 1.79%, at 6788.89 points on Friday, August 28. SK Hynix fell 4.45%, and Samsung Electronics dropped 3.38%.

Morgan Stanley has adjusted ratings for multiple European industries, upgrading the rating of the European aerospace sector from "Equal Weight" to "Overweight".

Beating AI News: Tencent has published results from a blind engineering test for its Hy4 model. 163 internal Tencent experts evaluated different models across 203 real-world engineering tasks, with Hy4 posting an average score of 2.99/4, outperforming GLM-5.3 (2.92/4) and Kimi K3 (2.94/4). Specifically, Hy4’s win rate against GLM-5.3 stands at 46.8%, with a 12.8% draw rate and 40.4% loss rate; versus Kimi K3, its win rate is 51.2%, draw rate 7.9%, loss rate 40.9%. The test tasks are actual internal Tencent engineering projects, not traditional fixed benchmarks. However, Hy4 does not lead across all public benchmarks. Per Tencent’s released evaluation data, it has mixed performance against models like GLM-5.3 and Kimi K3, and still lags behind GLM-5.3 in code and cybersecurity tests including DeepSWE and CyberGym. Price is Hy4’s most prominent advantage: it costs 6 yuan per million input tokens and 18 yuan per million output tokens—25% cheaper than GLM-5.3 for input and roughly 36% cheaper for output; compared to Kimi K3, it is 70% cheaper for input and 82% cheaper for output. Its cache hit cost is just 0.3 yuan, 85% lower than GLM-5.3 and Kimi K3’s 2 yuan.