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Snap’s Q2 revenue exceeded expectations, with its after-hours share price surging as much as 13%.

1 hours ago

Snap reported second-quarter revenue of $1.6 billion, up roughly 19% year-over-year and beating market expectations, driven mainly by World Cup ad spending and stronger activities from key North American clients. According to market data from BIT (bit.com), its after-hours share price surged 13% at one point. CEO Evan Spiegel sidestepped questions about pre-order demand for the Specs smart glasses—priced at $2,195 and set to launch in Los Angeles on September 16. The company’s daily active users (DAUs) rose to 493 million, though user counts in North America and Europe declined.

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NEAR co-founder proposes establishing a sovereign fund, with the long-term goal of reducing inflation.

NEAR co-founder and NEAR Foundation CEO Illia Polosukhin has proposed establishing the NEAR Sovereign Fund, which would draw capital from the protocol’s existing and future treasuries plus current and upcoming protocol revenue. The fund would be managed via governance-set parameters to generate NEAR-denominated returns. Per the proposal, the fund will initially launch with the protocol’s current treasury of approximately 30 million NEAR tokens. Protocol revenue will flow into the fund within governance-defined limits and be converted to NEAR; a portion of returns will fund validator support programs, MPC service providers, and other ecosystem public goods. House of Stake representatives can also participate and share returns via existing delegation mechanisms. If the initial phase proves effective, NEAR will gradually allocate more protocol revenue and a portion of token emissions to the fund, while continuing to reward core validators and stakers and reduce actual inflation. Long-term, the fund could cover all network security and public goods costs, creating conditions for NEAR to transition to a fixed token supply. The proposal is currently a discussion draft, not a binding decision. Polosukhin plans to gather feedback from validators, token holders, and community members over the next two weeks before evaluating whether to proceed with launching the fund.

6 minutes ago

KOSDAQ rose more than 5%, triggering a buy-side circuit breaker, with institutions net buying 354 billion won.

This morning, South Korea’s KOSPI index was weak, while the KOSDAQ index rallied sharply. The Korea Exchange announced that it activated the buy-side circuit breaker (which suspends program trading) on the KOSDAQ market at 10:47:51 Korea Standard Time (09:47 Beijing Time). The KOSDAQ market has triggered the buy-side circuit breaker for three consecutive trading days: on the 31st of last month, yesterday, and today. This marks the 17th activation of the mechanism so far this year, with 12 activations occurring last month alone. Robust institutional buying is driving the index’s gains. On the day, institutional investors net bought 354 billion won on the KOSDAQ market, while individual investors and foreign investors net sold 167 billion won and 183 billion won respectively. Biotech stocks outperformed, with Alteogen surging over 7%; LigaChem Biosciences rose 12.89%, ABL Bio gained 12.25%, HLB climbed 9.55%, Peptron advanced 9.39%, and Sam Chun Dang Pharm increased 6.00%. (Jin10)

6 minutes ago

The user wants me to write a headline for Lookonchain based on this tweet text. Let me extract the key information: - Coldcard hack - 2,055 BTC lost - $130M in losses - 7,700+ victim addresses Constraints: - Max 120 characters - Keep tickers ($BTC), key amounts and names - No quotes, no hashtags, no trailing period - Concise English news headline Let me draft options: 1. "Coldcard hack losses reach 2,055 $BTC ($130M) affecting 7,700 addresses" - 69 chars ✓ 2. "Coldcard hack: 2,055 $BTC ($130M) lost across 7,700 victim addresses" - 69 chars ✓ 3. "2,055 $BTC ($130M) lost in Coldcard hack affecting over 7,700 addresses" - 72 chars ✓ I'll go with a clean, newsworthy headline that captures the magnitude. Coldcard hack losses reach 2,055 $BTC ($130M) affecting 7,700 addresses

This is insane! According to @glxyresearch, the total losses from the #Coldcard hack may have reached 2,055 $BTC($130M). More than 7,700 victim addresses have been affected.

6 minutes ago

A trader has sold BTC call options totaling $173 million in value, betting that Bitcoin will not break through $70,000 before September 25.

According to on-chain analyst Ai Yi (Twitter handle @ai_9684xtpa), a trader has sold a total of 2,709 BTC call options expiring on September 25 with a $70,000 strike price. The notional value of the positions is approximately $173 million, effectively betting that BTC will not rise more than 9.5% over the next 52 days. The trader collected around $3.03 million in option premiums. If BTC’s price does not break above $70,000 at expiration, the trader pockets the entire premium; if the price surges sharply, they may incur corresponding losses.

6 minutes ago

American real estate investment firm Cardone Capital increases its holdings by 350 bitcoins.

Grant Cardone, CEO of U.S. real estate investment firm Cardone Capital, announced on social media that Cardone Capital has added 350 Bitcoins to its holdings, valued at approximately $22.3 million.

6 minutes ago

South Korean exchange: KOSDAQ futures rose over 6%, triggering a five-minute trading halt.

South Korean exchanges said that KOSDAQ futures surged over 6%, triggering a five-minute trading halt.

6 minutes ago

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