Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

According to Arkham’s monitoring, Bitwise clients have been net buying Solana (SOL) for five consecutive days, with the latest purchase totaling around $25 million. Data shows that since the launch of Bitwise’s BSOL ETF, its clients’ cumulative net purchases of SOL have reached approximately $948 million. If the current buying momentum continues, Bitwise clients’ weekly cumulative net purchases are on track to exceed $1 billion.

The US Blockchain Association is urging U.S. federal regulators to limit Know Your Customer (KYC) requirements to stablecoin issuers and their direct customers when implementing the stablecoin regulatory framework under the GENIUS Act, and refrain from extending KYC obligations to downstream peer-to-peer (P2P) wallet transfers. In a comment letter submitted on August 21, the association stated that issuers should not be required to conduct identity verification for P2P stablecoin transactions they did not participate in, facilitate, or approve, warning that such mandates would be "nearly unenforceable" and could even "kill the industry". The association also recommended that regulators allow issuers to use modern technologies like digital identity and zero-knowledge proofs for customer identity checks, and grant issuers adequate liability protection when they reasonably rely on regulated financial institutions to fulfill KYC duties. Furthermore, the association called on regulators to align the implementation timelines of the GENIUS Act with FinCEN’s anti-money laundering (AML) rules and OFAC sanctions regulations, to avoid forcing stablecoin issuers to repeatedly upgrade their compliance systems amid phased rollouts of regulatory requirements.

Citrini analyst Jukan published an analysis stating that OpenAI’s "Jalape?o" AI chip may not scale to the level of NVIDIA’s Rubin platform. Jukan argued that if OpenAI’s HBM4 high-bandwidth memory relies entirely on Samsung for supply, its capacity scaling will hit a certain ceiling. To further expand the deployment of "Jalape?o", OpenAI may need to lower requirements for HBM4 specifications such as transfer speed, so that it can adopt HBM4 products from other suppliers simultaneously, thereby easing supply chain constraints. Earlier today, BlockBeats reported that OpenAI unveiled the latest test results of its self-developed AI inference chip Jalape?o (literally: jalape?o pepper), which beat NVIDIA’s GB200 and GB300 superchips in the InferenceX benchmark. On models including GPT-OSS 120B, DeepSeek R1, and Kimi K2.5 1T, the chip delivers 1.5 to 1.9 times the AI workload per watt of competing products, with end-to-end latency reduced by 1.7 to 3.6 times.

Crypto analyst CW stated in a post that Bitcoin will need to meet three conditions to kick off a full-scale rally: Hyperliquid whales turning bullish, Bitfinex whales completing their BTC long position accumulation, and the elimination of negative Korea Kimchi Premium and Coinbase Premium. So far, Bitfinex whales have finished building their BTC long positions, while both the negative Kimchi Premium and negative Coinbase Premium have disappeared—meaning two of the three conditions are already satisfied. The market’s core focus moving forward will be whether Hyperliquid whales shift to a bullish stance; once this signal emerges, it could act as a catalyst for Bitcoin to start a new upward trend. It’s worth noting that the above assessment primarily reflects the analyst’s personal views, and related premiums and whale position changes are generally only used as reference indicators for market sentiment and capital flows.

Alibaba recently raised roughly $10.2 billion via a discounted placement of about 710 million new shares, earmarking the funds to step up investment in AI chips, computing power infrastructure, and large language model development. The move diluted existing shareholders’ stakes by approximately 3.6% and put pressure on the company’s stock price. However, amid market skepticism over the share dilution and AI-related capital expenditure burdens, Alibaba insiders have opted to boost their holdings against the trend. Reports note that after Chairman Joseph Tsai and CEO Daniel Zhang bought company shares, founder Jack Ma spent more than HK$600 million (around $77 million) to increase his Alibaba stake, signaling the management’s confidence in its AI strategy. Alibaba previously committed to investing 380 billion yuan over the next three years to build AI and cloud computing infrastructure. While large-scale capital expenditure is weighing on profits and free cash flow in the short term, demand for its AI cloud and computing services remains robust. The core focus for the market going forward is whether the massive AI investment will translate into sustained revenue growth, profit improvements, and free cash flow returns.

According to Coinglass data, the global crypto market recorded $566 million in liquidations over the past 24 hours, including $235 million in long-position liquidations and $331 million in short-position liquidations. A total of 83,754 traders were liquidated worldwide, with the largest single liquidation order occurring on Bitget’s BTCUSDT_UMCBL contract, valued at $103 million.