Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

According to GMGN market data, the meme token microduck on the Robinhood Chain saw a rapid rally at midday. Its price surged from around $0.013 to a high of approximately $0.0188 in a short period, with its stage gain once exceeding 40% and its peak market cap reaching nearly $19 million. The price then quickly pulled back, currently trading at around $0.0145, with its market cap falling to roughly $14.55 million, a retracement of about 23% from the high.

According to GMGN market data, PONS' market capitalization has briefly rebounded to surpass $350 million, with its current price standing at $0.352.

According to monitoring by Onchain Lens, Fireblocks Custody transferred 30 million USD1 tokens to Binance again over the past 15 hours. Note: USD1 is a stablecoin backed by a Trump-associated project.

Iran's Foreign Ministry announced that Iran's armed forces launched an attack on a U.S. military base in Jordan in retaliation for the U.S. strike on Iran's Larak Island. The ministry emphasized that Iran's armed forces will not hesitate to exercise their inherent right to self-defense and will take appropriate, resolute responses to any military aggression by the enemy. The U.S. strike on parts of Larak Island violated Iran's national sovereignty and territorial integrity, and constituted a clear violation of the UN Charter. It called on the UN Security Council and the UN Secretary-General to fulfill their duties to maintain international peace and security and hold the aggressor accountable. Iran's Foreign Ministry also stated that the U.S. and all parties supporting its military operations bear full responsibility for the consequences of the escalating situation. It further noted that the U.S. base in Jordan was used to launch and support the attack on Larak Island, adding that the U.S.'s new act of aggression, along with the ongoing impacts of its maritime blockade and economic war against Iran, are the full responsibility of the U.S. and all parties involved in planning and executing the relevant actions. Earlier reports showed that Tasnim News Agency cited Iran's military as claiming to have launched dozens of drones at the UAE's Al Minhad Air Base. Separately, Iran's state television reported that the Iranian military carried out a drone attack on the Al Minhad Air Base in the UAE earlier on Monday.

Beating AI Insight News Brief: U.S. venture capital firm Dimension spent a week in China, visiting AI labs, investors, and founders, then wrote a 5-page internal letter to its limited partners (LPs). The firm previously conducted research in Shanghai last year; this trip covered Beijing and Shanghai, with the goal of recalibrating its assessment of China’s AI sector. A key finding highlighted is that China’s open-weight models have entered the production pipelines of U.S. AI companies. For example, Cursor’s Composer 2 was further trained on Kimi K2.5, while legal AI firm Harvey’s Tenet model underwent post-training on Kimi K3. Dimension summarized this cross-Pacific value chain as a "two-way trans-Pacific flow": U.S. labs first train cutting-edge models, Chinese labs absorb these capabilities and release open-weight models, then U.S. application companies further train on the Chinese models to build products sold to U.S. enterprises. However, despite surging usage, revenue has not accrued proportionally to Chinese model firms. Dimension summed this up in one sentence: "China is getting Western workloads, not Western revenue." Open-weight models can be deployed across multiple platforms, with U.S. inference firms like Fireworks, Baseten, and Modal capturing the bulk of service fees. Chinese models drive down costs, ultimately benefiting U.S. cloud providers, inference platforms, and AI application companies as well. Dimension’s final assessment is that it is no longer feasible to simply split China and U.S. AI into two separate systems. Hardware like chips is being decoupled: the U.S. faces constraints from power and grid infrastructure, while China lacks advanced chips. Yet models, data, inference services, and software frameworks continue to flow across borders. Debating "which side is winning the China-U.S. AI race" in simplistic terms no longer reflects the real industrial chain.

This morning session of A-shares saw the three major indexes open lower, rebound in volatile trading, then retreat toward the end of the session. By midday close, the Shanghai Composite Index fell 0.2%, the Shenzhen Component Index dropped 1%, and the ChiNext Index declined 1.29%. The AI corpus sector moved higher amid volatility. The combined turnover of Shanghai and Shenzhen bourses in the morning session was approximately 1.31 trillion yuan, a decrease of around 112.1 billion yuan from the same period of the previous trading day.