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Circle and edgeX deepen their cooperation to jointly expand FX and global asset trading markets on the Arc blockchain.

1 hours ago

Circle and decentralized perpetual contract trading platform edgeX jointly announced that on September 16, coinciding with the launch of the Arc mainnet, edgeX will serve as Arc’s flagship perpetual product, offering 24/7 forex trading on the mainnet’s first day. The two parties will collaborate to advance Arc’s on-chain foreign exchange and global asset trading markets. On the mainnet launch day, edgeX will debut a 24/7 tradable USD/JPY perpetual contract, alongside over 150 perpetual contract markets covering U.S. stocks, commodities, and crypto assets. All markets use Arc’s native USDC as margin and settlement asset. Arc is Circle’s Layer 1 blockchain purpose-built for stablecoin finance, featuring a built-in FX engine (StableFX), institutional-grade RFQ (Request for Quote) system, and 24/7 on-chain PvP (peer-to-peer) settlement, with USDC as its native gas token. Backed by Circle Ventures, edgeX will be the exclusive launch partner for Arc’s FX perpetual market. A globally leading centralized perpetual contract exchange, edgeX has recorded over $900 billion in trading volume since its launch, enabling users to trade perpetual contracts for U.S. stocks, commodities, forex, and crypto assets around the clock. Prior to this, Circle and edgeX teams had collaborated on EDGE Chain’s native USDC issuance and CCTP integration. This partnership will combine Circle’s expertise in stablecoin financial infrastructure with edgeX’s on-chain trading experience to expand 24/7 global asset trading use cases. Looking ahead, the two sides plan to gradually add more major forex pairs based on market demand and liquidity, and explore non-U.S. dollar stablecoin margin and on-chain FX spot markets.

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Bitcoin ETFs posted a net inflow of $101 million yesterday, while Ethereum ETFs saw a net outflow of $48.2 million.

According to monitoring by Farside Investors, U.S. spot Bitcoin ETFs saw a net inflow of $101 million yesterday. Of that, BlackRock’s IBIT recorded a net inflow of $115.4 million, while Grayscale’s GBTC posted a net outflow of $56.2 million. U.S. spot Ethereum ETFs overall had a net outflow of $48.2 million. Among them, BlackRock’s ETHA saw a net outflow of $53.4 million, ETHB posted a net inflow of $52.9 million, Fidelity’s FETH had a net outflow of $26.2 million, and ETHE recorded a net outflow of $23.5 million.

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Is Kimi's $50 billion valuation overpriced? Its annual recurring revenue (ARR) exceeds $1.2 billion, matching that of Zhipu AI, and stands at nearly $2.5 billion, approaching MiniMax.

Beating AI Insight News Flash: Moonshot AI, the developer of Kimi Chat, is advancing toward a Hong Kong IPO, with its latest Pre-IPO round targeting a valuation of approximately $50 billion. This valuation may seem high, but when extrapolating from listed peers MiniMax and Zhipu AI, there is a clear revenue threshold Kimi needs to hit. Based on rough market cap calculations as of September 3, MiniMax has a total market cap of around $16 billion, with August annual recurring revenue (ARR) exceeding $800 million, translating to less than 20x ARR. Zhipu AI’s total market cap is roughly $66 billion, with August ARR of $1.6 billion, corresponding to about 41.25x ARR. If Kimi is valued at $50 billion, its valuation multiple will be lower than Zhipu’s as long as its ARR exceeds approximately $1.212 billion; hitting $2.5 billion in ARR would correspond to a 20x multiple, close to MiniMax’s level. Kimi’s last explicit ARR disclosure was $300 million in mid-June. After the K3 model launched in July, President Zhang Yutong stated that the enterprise ARR had seen "multiple-fold growth" and recorded its largest single-day increase in history. Bloomberg also reported that daily sales rose at least sixfold following K3’s release, but the company has not yet disclosed the absolute value of its latest ARR. Therefore, the key to judging whether the $50 billion valuation is reasonable now boils down to one figure: Kimi’s latest ARR after the K3 launch.

1 seconds ago

US SEC Chair Again Urges Congress to Advance the CLARITY Act

U.S. SEC Chair Paul Atkins told Fox News in an interview that he hopes Congress will swiftly advance the CLARITY Act and send it to President Trump for signing. Meanwhile, the SEC is continuing to develop regulatory rules adapted to blockchain and crypto asset markets. The U.S. Senate has set September 15 as the key procedural vote date for the CLARITY Act, which requires 60 votes to move the bill forward to formal consideration. Even if legislative efforts continue to face obstacles, the SEC and CFTC plan to leverage their existing authorities to advance the crypto market regulatory framework.

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Predict.fun announces the launch of 15-minute up/down prediction markets for SPY/USDT and QQQ/USDT.

Prediction market platform Predict.fun has launched a new 15-minute up/down prediction market. Two markets—SPY/USDT and QQQ/USDT—are now live, allowing users to trade by predicting the future 15-minute price direction of the underlying assets. The new offering aims to provide users with a more high-frequency, flexible prediction experience. The market is open for participation now; welcome users to visit Predict.fun to try it out.

1 seconds ago

Bitget has launched USDT-margined CP perpetual contracts.

Per an official announcement, Bitget has launched U-denominated CP perpetual contracts, supporting up to 20x maximum leverage. Contract trading bots will also be rolled out simultaneously. For more details, refer to Bitget’s official platform.

1 seconds ago

Ethereum L2 network Silicon will cease operations, users are advised to withdraw their assets as soon as possible.

Ethereum L2 network Silicon will close its asset deposit channels starting September 2, with its testnet also shutting down simultaneously. User asset withdrawal support will remain available until December 31, 2026; after that, block explorers will be closed and the network will be terminated.

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