Zhipu AI’s two weeks of safety safeguards failed: GLM-5.3, only three days after being open-sourced, was jailbroken to bypass its refusal to answer queries.

The A-share market fluctuated and adjusted throughout the trading day, with all three major indexes closing lower. By the close, the Shanghai Composite Index fell 0.16%, the Shenzhen Component Index dropped 1.02%, and the ChiNext Index declined 1.32%. Agricultural stocks bucked the trend to rally, while computing power hardware stocks including PCB saw declines. Today’s trading volume stood at 2.05 trillion yuan.

The Cronos network has resumed operations and restarted block production. The network was temporarily suspended earlier to protect users from vulnerabilities in the Tectonic protocol, and a full post-mortem analysis report will be released soon.

Yilihua, founder of Liquid Capital, stated in a social media post that the core of investing has never been spreading capital evenly across multiple assets, but rather focusing on a small number of star enterprises capable of generating excess returns. Duan Yongping’s first investment move after transitioning from entrepreneurship came in 2002, when he used $2 million to buy undervalued NetEase shares trading below $1. Holding the stock for 8 years, he earned over 100 times his initial investment, netting more than $260 million—cementing his status as a legendary investor and launching his iconic investment career. Every technological revolution brings abundant opportunities for excess returns. In the early days of the crypto industry a decade ago, holding Bitcoin or investing in high-quality projects yielded numerous 100x return cases. The AI industry is now in the same early explosive phase, with a large number of promising targets waiting to be discovered in both Chinese and U.S. markets. The core goal of AI investment today is to capture the most explosive star enterprises in this AI wave.

Per official news, X Money announced that its X platform has rolled out X Money to all U.S. users with Premium and Premium+ subscriptions. Eligible users can access the Money tab via the sidebar to start using X Money.

CryptoQuant analyst Axel Adler Jr. noted that between August 18 and 28, Bitcoin Long-Term Holder (LTH) 30-day cumulative distribution rose from 174,500 BTC to 281,900 BTC, a 61.5% increase, hitting its highest level since 2026 on August 28. The metric accelerated sharply during Bitcoin’s rapid rebound following a short squeeze, signaling long-term holders are taking profits amid the price recovery. Meanwhile, LTH MVRV rose from 1.31 on August 18 to 1.64 on August 27, and remained at 1.60 as of August 31, meaning the market value of Bitcoin held by long-term holders is roughly 60% above their average realized value. This indicates that despite rising distribution activity, long-term holders still hold substantial unrealized profits. Adler argues that the price rebound after the short squeeze has simultaneously lifted long-term holders’ profit levels and the pace of token distribution, creating conditions for further profit-taking. If Bitcoin prices hold steady, long-term holders may continue releasing supply, adding extra selling pressure to the market. The current market crux is whether long-term holders will sustain high-level distribution and whether new buying demand can absorb this additional supply; otherwise, the market may face renewed price pressure.

According to Bitget market data, South Korea’s KOSPI index closed up 15.78 points on Tuesday, September 1, with a 0.23% gain, ending at 6835.8 points. SK Hynix rose 1.13%, and Samsung Electronics increased by 0.38%.