NoOnes Announces Bankruptcy, to Gradually Exit Operations Amid Sanctions

Nasdaq-listed Chinese insurance technology firm Zhibao Technology (stock code: ZBAO) has completed its previously announced Private Investment in Public Equity (PIPE) financing, with investors subscribing to the company’s newly issued shares and warrants using 2,380 Bitcoin. At the agreed reference price of $65,000 per BTC, the transaction is valued at approximately $154.7 million. According to a 6-K filing submitted by Zhibao to the U.S. Securities and Exchange Commission (SEC), investors transferred all 2,380 BTC to the company’s designated wallet at closing. In exchange, the company issued 442 million PIPE units, each priced at $0.35, comprising 1 Class A ordinary share and 1 warrant. The warrant has an exercise price of $0.35 and a two-year term. Zhibao stated it will hold Bitcoin as reserve assets, using them to support daily operations, business expansion, research and development, and AI-related applications. Following the transaction, Zhibao’s Bitcoin holdings rank 33rd among global public companies.

Hong Kong police recently disclosed a cryptocurrency investment scam targeting elderly individuals. In June this year, an over-80-year-old retired man clicked on a fake link in an online pop-up ad, downloading a counterfeit app posing as the crypto platform Trust Wallet. Scammers then impersonated platform customer service representatives, luring him to invest with promises of "high returns and big profits". The victim withdrew cash from his bank as instructed, then converted it into cryptocurrency via a crypto exchange. Over the next month and a half, he transferred multiple batches of ETH totaling over HK$5 million to the scammers’ designated wallets. He only realized he had been scammed when he could no longer withdraw funds from the fake app and the customer service contact went missing. Hong Kong police reminded family members to monitor the internet habits and financial situations of elderly people, proactively share anti-fraud information, and be alert to investment scams conducted through fake apps and high-yield promises.

According to market data from BIT (bit.com), the U.S. stock optical communication sector has deepened its declines, with the following assets posting losses: Roundhill Optical Module ETF (LYTE) fell 8.27%; Pure Photonics ETF (FOTO) dropped 10.07%; Optoelectronics (AAOI) declined 11.77%; Corning (GLW) fell 7.72%; Coherent (COHR) dropped 11.76%; Marvell Technology (MRVL) declined 7.65%; Lumentum Holdings (LITE) fell 9.05%; and Ciena Corporation (CIEN) dropped 9.94%.

According to MaxForAI, the AI project J-Space Cognition Suite, which went viral on X today, has faced community skepticism over its claimed DeepSeek V4 test results, which critics say cannot be reproduced. The project previously asserted that V4 Flash paired with J-Space could match GLM-5.3, while V4 Pro outperforms Fable 5 on multiple agent benchmarks, delivering a 2.53x speed boost and 2.21x improvement in token efficiency. GitHub user GoForceX ran a high-concurrency retest using the 87-question subset of Terminal Bench 2.1, confirming J-Space modules were loaded. The results showed that adding J-Space actually led to a slight drop in benchmark scores, alongside higher token usage and costs — the opposite of the project’s stated gains in performance, speed, and token efficiency. The community has since demanded the project disclose full evaluation configurations, per-question results, operation logs, original time and token consumption data. To date, the project has only published aggregated results and has not provided complete original experimental records to verify these metrics. Notably, the project’s author previously admitted the related data was “indeed exaggerated,” noting actual improvements are roughly between 1.6x and 3x. As of press time, the author has not issued an official response to the community’s queries, and some related skeptical GitHub Issues have been deleted.

According to Al Jazeera, citing a U.S. official, Trump has instructed his team not to negotiate with Iran until Iran is ready to sign an agreement. The official said that the U.S. and Iran had held positive discussions earlier, but Trump ultimately decided to pause the negotiations and wait for Iran to be prepared to sign the deal. Earlier, Trump had stated that no U.S.-Iran negotiations were scheduled.

Ripple has closed a private placement of senior unsecured notes upsized to $275 million. The notes are issued by its non-bank prime brokerage arm, Ripple Prime, with proceeds earmarked for working capital and expansion of Ripple’s U.S. business. The offering secured an investment-grade BBB rating from KBRA, and Ripple Prime plans to further expand its multi-asset clearing, financing, and prime brokerage services.