A certain crypto whale has accumulated a total of 14,783 ETH since yesterday, with a total value of $39.9 million.

U.S. Securities and Exchange Commission (SEC) Crypto Working Group Chief Counsel Taylor Lindman stated that the first tokenized stock trading platforms based on the SEC’s "innovation exemption" could begin preparations and submit relevant notifications as early as the fourth quarter of 2026. In an interview with *Crypto In America*, Lindman noted that relevant companies are expected to release operational plan notices in the coming months, with the first applications possibly emerging "sometime next quarter". Last week, the SEC introduced a 5-year conditional exemption allowing eligible platforms to trade tokenized U.S. stocks on public blockchains via automated market makers (AMMs) and liquidity pools. Lindman added that these platforms are closer to "on-chain finance" than pure decentralized finance (DeFi), as they still require clear operating entities to bear compliance responsibilities. SEC Commissioner Hester Peirce said current caps on the number of tradable stocks and trading volumes are sufficient to support commercial operations rather than just technical testing; if the limits become a growth barrier in the future, the SEC can adjust them. Furthermore, the exemption requires platforms to provide relevant listed companies with a 30-day objection period before offering tokenized versions of their stocks issued by third parties. Peirce expressed her expectation that issuers as a whole will maintain strong interest in the tokenized stock market.

According to HTX market data, AVAX has recently rallied strongly alongside Bitcoin, surging from roughly $7.5 to above $11 over the past week, marking a 50% cumulative gain, hitting an 8-month high, with trading volume expanding in tandem. On the news front, Avalanche is set to roll out the Helicon mainnet upgrade on September 22, which will slash the minimum staking lock-up period from 14 days to 48 hours, introduce auto-renewing staking, and raise validator uptime requirements—measures expected to enhance capital flexibility and staking efficiency. Meanwhile, the market continues to price in its institutional tokenization narrative: ICE and Ava Labs are collaborating on 24/7 trading infrastructure for tokenized U.S. stocks, ETFs and other assets; New York Life Investment Management plans to launch a tokenized U.S. high-yield corporate bond fund on Avalanche via Centrifuge. Institutional moves from Paxos, Aave and Janus Henderson have further boosted market expectations for the Avalanche ecosystem’s compliance and real-world asset (RWA) applications.

According to monitoring by crypto analytics account AI Auntie, a mysterious entity has been purchasing ETH for five consecutive days since September 18, building a cumulative position of approximately 21,520 ETH worth around $55.8 million. The entity started buying ETH in batches at roughly $2,450, with its latest purchase price reaching $2,762, and its current average position price stands at about $2,593. Calculated at current prices, this ETH holding has generated an unrealized profit of approximately $3.25 million.

Beating AI News Flash: According to market sources, Alibaba plans to train an AI model with 5 trillion to 10 trillion parameters. Alibaba CEO Wu Yongming stated at the Yunqi Conference that current customer demand for AI is extremely strong, and the company will fully invest in AI infrastructure construction, targeting to operate a global data center scale exceeding 20GW for Alibaba Cloud by 2032. On the same day, Pingtouge launched its most powerful domestically produced AI chip, the Zhenwu V900, whose computing power is three times that of the Zhenwu M890. It is reported that Pingtouge’s annual shipments of AI chips will rise significantly.

According to TradingBeats’ monitoring, an address starting with 0xf517 on Hyperliquid added a $25 million regular limit sell order for BTC at $89,444 this morning, intending to sell 279.50 BTC. It also kept a $6.25 million take-profit order at $88,777, with total non-position-reduction sell orders above this level totaling roughly $30.5 million. As of press time, the address still holds the long position, with an average entry price of ~$81,273.5, position value of ~$6.034 million, and unrealized profit of ~$312,000. No BTC trades have been executed today so far. If the position and orders remain unchanged and filled, the address will flip from long to short, opening a maximum short position of ~341.38 BTC. Meanwhile, the address still holds regular buy orders worth ~$47.196 million in the $67,777–$78,777 range, including a ~$20 million order at the $78,777 level.

Beating AI News: Tencent’s Hunyuan launches Hy Image3.5 preview. Compared to Hy Image3.0, the new version raises the reference image limit from 3 to 20, supports multi-round continuous editing, and can directly generate up to 4096×4096 4K images. Hy Image3.5 preview is now live on design agent Miora, with limited-time free access running from September 22 to October 7. Miora states that the new version’s overall capabilities are approximately 30% higher than its predecessor.