Suspected Sonic Labs-Related Address Transfers 11.78 Million S Tokens to Binance, Valued at Approximately $5.55 Million

According to monitoring by Dongcha Beating, the Qwen team today officially launched Qwen-AgentWorld — the first native language world model that sets environment modeling as a training objective from the continued pre-training phase, rather than an after-the-fact adaptation of a general large language model. The model covers seven domains under a unified framework: text-based environments (MCP, Search, Terminal, SWE) and GUI-based environments (Web, OS, Android). Trained on over 10 million real-world interaction trajectories via three stages — CPT → SFT → RL — it enables cross-domain knowledge transfer. Also open-sourced simultaneously is the AgentWorldBench evaluation benchmark, with each test sample paired with observation data collected from real environment executions. Both the model and the benchmark are now available on Hugging Face and ModelScope. In the AgentWorldBench evaluation, Qwen-AgentWorld-397B-A17B achieved the highest overall simulation quality, outperforming GPT-5.4, Claude Opus 4.8, and Gemini 3.1 Pro. The research team also explored two application paths for world modeling in agent training: First, as a decoupled environment simulator, controllable simulated reinforcement learning (RL) can shape agent behavior and significantly outperforms RL trained exclusively in real environments. Second, as a unified agent base model, LWM warm-up training can be transferred to multi-turn agent tasks across seven benchmarks, three of which are not included in the training set at all, and no RL fine-tuning for agent tasks is required. The work preliminarily validates the potential of language world models as stronger foundational models for agents. Click the original link below to join the Dongcha Beating · Feishu AI News channel, which monitors global AI hotspots and news around the clock.

According to the Financial Intelligence Analysis (FIU) under South Korea’s Financial Services Commission (FSC), around 40 unregistered virtual asset service providers have been reported to law enforcement authorities. Under South Korea’s Specific Financial Information Act, platforms operating crypto asset businesses in South Korea must obtain an Information Security Management System (ISMS) certification and complete registration with the FIU; overseas platforms serving South Korean users are also subject to these rules. Unregistered platforms are not covered by regulations such as the Virtual Asset User Protection Act, leaving users at risk of personal data leaks, hacking, fund misappropriation, and operator exit scams, with difficulties in pursuing claims and recovering losses if incidents occur. Additionally, the FIU disclosed various typical violations, including attracting South Korean users via channels like Telegram and KakaoTalk while deliberately omitting Korean language services to evade regulation, and private money exchange institutions providing stablecoin-fiat currency conversion services to groups such as international students and foreign workers. The FIU will continue to partner with relevant agencies to step up crackdowns on illegal crypto asset businesses and expand joint investigations and regular monitoring mechanisms.

Multiple private equity professionals in mainland China revealed that they received notices from their partner securities firms last night, with regulators requiring a halt to new additions to cross-border TRS (Total Return Swap) positions by fund managers. According to public information, TRS is a financial derivative that allows private equity firms to enter into return swap agreements with counterparty securities firms to gain exposure to the returns (or losses) of overseas assets without directly holding those assets (i.e., principal remains onshore). Since the start of this year, driven by strong performance in the global tech sector, many private equity firms have allocated overseas assets via cross-border TRS. Since May, the China Securities Regulatory Commission (CSRC) and seven other government departments jointly issued the "Implementation Plan for the Comprehensive Rectification of Illegal Cross-Border Securities, Futures and Fund Operations", taking tough measures against leading cross-border internet brokerages including Tiger Brokers, Futu Holdings and Longbridge. As the space for mainland Chinese residents to trade stocks cross-border illegally has shrunk, private equity products using cross-border TRS to allocate overseas tech assets have drawn increasing capital attention. Multiple private equity professionals said: "The relevant notice came quite suddenly, and some product strategies may see certain adjustments in the short term. We are currently waiting for further detailed regulations on cross-border TRS quotas."

Multiple private equity industry insiders in mainland China disclosed that they received notices from their partner securities brokers overnight, as regulators have ordered a halt to new additions to cross-border Total Return Swap (TRS) positions managed by private equity firms. TRS, or Total Return Swap, is a financial derivative that allows private equity firms to enter into return swap agreements with counterparty brokers to gain exposure to the returns (or losses) of overseas assets without directly holding those assets—meaning principal does not cross borders. Driven by the strong performance of the global tech sector this year, many private equity firms have been allocating overseas assets via cross-border TRS. Since May, eight Chinese government departments including the China Securities Regulatory Commission (CSRC) have jointly issued the "Implementation Plan for the Comprehensive Rectification of Illegal Cross-Border Securities, Futures and Fund Business Activities", cracking down hard on leading cross-border internet brokers such as Tiger Brokers, Futu Holdings and Longbridge. As space for mainland Chinese residents to conduct illegal cross-border stock trading has shrunk, private equity products using cross-border TRS to allocate overseas tech assets have attracted growing capital interest. Multiple private equity insiders noted: "The notice came rather abruptly, and some product strategies may see certain adjustments in the short term. We are currently awaiting further refined regulations on cross-border TRS quotas."

According to official news, Binance Wallet announced that Binance Alpha will roll out the NES (NES) airdrop event first on June 24. Eligible users can claim the airdrop using Binance Alpha points on the Alpha event page once trading opens. Detailed participation rules and eligibility requirements will be announced at a later date.

U.S. leveraged exchange-traded funds (ETFs) are growing at a record pace, with investor leverage also hitting an all-time high. The 3x long Nasdaq 100 ETF TQQQ now has roughly $40 billion in assets under management (AUM), near its all-time peak. Meanwhile, the 3x long semiconductor ETF SOXL has reached an all-time high of $34 billion in AUM. Since April, SOXL’s AUM has more than tripled, while TQQQ’s AUM has nearly doubled. By comparison, the 2x long Nasdaq 100 ETF QLD added $7 billion in AUM over the same period, an 88% rise, bringing its size close to an all-time high of $15 billion. Driven by these gains, the total AUM of U.S. leveraged ETFs has hit an all-time high of $198 billion, up 55% over the same period.