US SEC Submits Crypto Asset Custody Rules Proposal to White House for Review

Pump.fun has announced that its application now supports HyperEVM. Users can trade any HyperEVM tokens directly with USDC, earn Callout rewards, and execute transactions at nearly zero fees.

On-chain analytics platform Bubblemaps published a report stating that Cosmos Labs previously disclosed a security vulnerability in its shared Cosmos EVM software, which has affected multiple blockchains using this module, including Nesa. The main attacker address 0x9AE7 first purchased approximately $250,000 worth of NES and bridged it to Nesa Chain, then exploited the balance vulnerability to inflate its holdings by 200 times, before bridging back around $50 million worth of NES to Ethereum. The wallet was initially funded with Monero-related funds; afterward, the attacker dispersed the tokens to multiple addresses, swapped NES for ETH via decentralized exchanges (DEXs), and deposited the proceeds into centralized exchanges. Due to the rapid withdrawal of liquidity from liquidity pools, most of the attacker’s trades experienced severe slippage. Bubblemaps noted that the attacker spent a total of roughly $255,000, ultimately receiving approximately $315,000 from the sale, resulting in a net profit of only about $60,000. NES’s price plummeted by 90% at one point, but has since recovered significantly, likely driven by arbitrage opportunities from price discrepancies between DEXs and centralized exchanges post-attack. Another Cosmos EVM project suffered an attack of around $1.4 million during the same period, but with distinct funding sources and operational methods, possibly carried out by a separate attacker.

Bloomberg ETF analyst Eric Balchunas has flagged another sign that anti-currency depreciation trades are replacing the AI frenzy in the market. Gold ETF GLD and BlackRock’s spot Bitcoin ETF IBIT have re-entered the top 10 ETF trading volume rankings, while semiconductor ETFs — which topped the charts all summer — have fallen in the standings. Balchunas noted that semiconductor ETFs’ trading activity remains above the normal level corresponding to their asset size, but has cooled significantly compared to earlier.

Beating AI News Flash: Recently, ChatGPT paid users have noticed that despite selecting the GPT-5.6 Sol Thinking or Pro models, their responses have suddenly become faster but lower in quality. Some users who captured network requests found that while the frontend requests GPT-5.6, the server actually returns responses from gpt-5-5-mini. Adam Fry, OpenAI’s ChatGPT product lead, has confirmed this is a routing bug. Approximately 3% of Pro and Thinking model requests were incorrectly routed to GPT-5.5-mini, and the issue has now been fixed.

According to market data from BIT (bit.com), Meta Platforms (META) has turned negative, after earlier gaining more than 3%.

Beating AI Express (from Dongcha Insight): Tencent WeChat’s Computer Vision team has open-sourced WeMM-Embedding, releasing three multimodal embedding models in one go: 2B, 4B, and 9B parameters. Built on Qwen3.5, these models can convert text, images, videos, and visual documents into unified vectors for applications including search, recommendation, and content matching. All models are open-sourced under the Apache 2.0 license. Notably, Alibaba’s Qwen has not yet launched its own Qwen3.5-Embedding; its official existing offerings remain Qwen3-Embedding and Qwen3-VL-Embedding, while Tencent has taken the lead in developing a new generation of embeddings based on Qwen3.5. The performance is quite impressive: WeMM-Embedding 2B scores 77.9 on MMEB-v2, slightly outperforming Qwen3-VL-Embedding 8B’s 77.8 points, while the 9B version further reaches 80.6 points. Both models support cross-modal retrieval such as text-to-video search and image-to-text search, but WeMM, built on the Qwen3.5 base, achieves higher performance with a smaller model size. These models have already been deployed for internal use within WeChat. Tencent confirmed that they are currently used in WeChat Official Accounts, Video Channels, e-commerce recommendations, and WeChat Search, with the search scope extending to Moments.