Spanish AI firm unveils Quasar 438B, matching the performance of Qwen 2 7B’s low-inference tier to become Europe’s top-ranked AI model.

According to Bitget market data, U.S. Treasury yields have dropped sharply. The yield on the 30-year U.S. Treasury note fell 5 basis points from its intraday high to 5.25%. Dow Jones futures and S&P 500 futures erased their intraday losses to turn positive. International oil prices are currently down 1%, after rising more than 2% earlier in the session.

Oppenheimer has raised SpaceX (SPCX)’s price target from $250 to $280, while maintaining its "Outperform" rating. Analyst Tim Horan noted that SpaceX owns a vertically integrated AI platform, with advantages in data, capital and Nvidia GPU resources, and is rapidly expanding its infrastructure. Horan pointed out that Grok and Cursor have made strong progress recently, with AI usage exceeding expectations. Based on higher AI computing power pricing and potential returns from next-generation Nvidia Rubin chips, Oppenheimer also lifted SpaceX’s long-term revenue projections.

US August ADP employment rose by 38,000, marking the smallest increase since January, coming in below the market forecast of 48,000 and the prior figure of 44,000. (Jinshi)

Garrett Jin, the representative of the "BTC OG insider whale", posted that investors should not short Bitcoin (BTC) during its consolidation phase. According to prior reports, on August 25, Garrett Jin noted that the long consolidation period for BTC has only just begun, and the cryptocurrency needs to achieve full turnover in the current price range to stand a chance of rallying further.

Bitcoin treasury company Capital B (ALCPB) announced it has secured a €7.6 million (approx. $8.8 million) investment from Blockstream CEO Adam Back. The firm issued 13,181,030 shares at €0.58 apiece, with each share carrying four 5-year warrants. The proceeds are earmarked to purchase up to 376 BTC. Capital B currently holds 3,145 BTC, with a total acquisition cost of €284.2 million, translating to an average cost of €90,352 per BTC. Upon completing this acquisition, its holdings will rise to 3,521 BTC, valued at roughly $269.5 million, making it the second-largest Bitcoin treasury among European public companies, trailing only Bitcoin Group SE which holds 3,605 BTC. The transaction is part of a broader €21 million investment plan, in which TOBAM also participated. If all warrants are exercised, the company will issue an additional ~144.9 million shares, raising €135.8 million, bringing total potential financing to €156.8 million; a current shareholder with a 1% stake would see their equity diluted to 0.65% at that stage.

Wintermute said in a statement that over the past two weeks, the crypto market has rebounded, ETF fund flows have turned positive, and stablecoin issuance has stabilized. However, to kick off a full new market cycle, the sector still needs new capital entry points. Historically, venture capital (VC) and ICOs in 2017-2018, stablecoins in 2020-2021, and ETFs plus digital asset treasury firms in 2024-2025 all accelerated bull runs. Real-World Assets (RWA) could emerge as the next major liquidity channel. Data shows stablecoins saw a net issuance of over $120 billion in a single year; ETFs recorded cumulative net inflows of $63 billion, while digital asset treasury firms added over $115 billion to their holdings. By comparison, RWA attracted roughly $16 billion in capital over the past 12 months, just about one-tenth of the peak size of the ETF and treasury firms’ previous cycle. Yet on-chain tokenized asset value has tripled in a year, exceeding $30 billion, and continued expanding even during periods of stablecoin supply contraction. Wintermute noted that RWA funds initially purchased traditional assets such as Apple stocks and U.S. Treasury funds, not crypto assets directly. But once these funds enter on-chain systems, the friction to shift to Bitcoin (BTC), altcoins, and DeFi will drop significantly. As regulatory frameworks gradually clarify, and tokenized Treasuries and funds are accepted as collateral by exchanges and DeFi protocols, RWA could drive a slower-paced, longer-lasting market cycle.