Forked Coin Frenzy or "Flash in the Pan": Cryptocurrency Market Cap Drops Below $4 Trillion

On September 10th, the Decentralized AI Network Allora Network declared that its mainnet is about to be launched. At this moment, the network's initial AI prediction data stream will be migrated from the testnet to the mainnet. After the mainnet is launched, the ALLO token will support transactions, inference access, staking, and rewards on the Allora Network. ALLO will be accessible on the EVM chain, and users will also be able to cross-chain their assets to the Allora chain. In June of the previous year, Allora Labs (formerly known as Upshot, which focuses on NFT valuation) announced that it had completed a $3 million strategic round of financing, with the participation of Archetype, Delphi Ventures, CMS Holdings, ID Theory, and DCF God.

On September 10th, Matrixport's leading RWA tokenization platform, Matrixdock, announced a joint research report in collaboration with the Hong Kong University of Science and Technology (HKUST) FinTech Research Institute. This marked the official launch of a collaborative and in-depth study on a gold tokenization product. The academic report released this time is titled "Gold Token in the New Financial Paradigm: Reconstructing the Underlying Asset of the Global Value Network." It was co-written by Tang Bo, Director of the HKUST FinTech Research Institute, and Eva Meng, Head of Matrixdock. Starting from the efficiency development challenges faced by the new financial system, the two delved deeply into how gold tokens have become a key asset module in the new financial system. The report straightforwardly introduced the on-chain value and structural advantages of gold tokens, payment and transaction scenarios, liquidity performance, as well as diverse real-world application scenarios. I

September 10th, Songshu declared in the community that they have not made any sales and still possess Swarms. "I have been a supporter of Swarms from its initial launch until now. Even when the market value reached as high as $30 million, I continuously invested in the Swarms ecosystem, with a focus on the development of AI." Songshu stated that as a community supporter, they participated in establishing a foundation holding Swarms and invested in some AI-related ecosystem projects. They also took part in investing in the ssi platform. Regarding Kye's accusations, Songshu responded by stating that they are completely unfounded. "Kye has created new projects multiple times and has attempted to charge new platform fees by relying on the name of the founder."

On September 10th, based on market intelligence, Yunfeng Financial surged today, with an intra-day increase of more than 31%, and is currently trading at HK$5.57. Yesterday evening, Yunfeng Financial Group Limited (stock code: 376.HK) announced that its wholly-owned securities subsidiary, Yunfeng Securities Limited, has officially received approval from the Securities and Futures Commission of Hong Kong (SFC). The existing securities trading license (Type 1 license) will be upgraded to be able to provide virtual asset trading services. According to publicly available information, Jack Ma, the founder of Alibaba, indirectly holds approximately 11.15% of Yunfeng Financial through Yunfeng Fund.

September 10th. The staking service provider Kiln announced that following the hack of SwissBorg, which led to the loss of approximately $41 million worth of SOL, all Ethereum validator nodes will commence an orderly shutdown starting from September 10, 2025. The process is anticipated to be completed within 10 to 42 days, with an additional 9 days for withdrawals. This is a precautionary measure taken to ensure asset security. The Kiln team stated that rewards will still be received during the shutdown period, no other indications of fund loss have been detected, some services are temporarily suspended, and infrastructure is being enhanced. A detailed report will be provided later. The team emphasized that the validator node shutdown is a responsible action to safeguard the security of stakers. They are closely monitoring the entire process to ensure the security and reliability of the service. In yesterday's news, the SwissBorg CEO issued a public statement indicating that they are

On September 10th, the subsidiary Nakamoto of Nasdaq-listed healthcare company KindlyMD announced that it has pledged to invest a maximum of $30 million in Metaplanet's global stock offering. This marks its largest investment to date and its first investment in an Asian public company that adopts a Bitcoin treasury strategy. Metaplanet stated on Tuesday that it intends to issue 3.85 billion new shares to raise approximately $1.4 billion in order to support its Bitcoin accumulation strategy. On August 27th, Nasdaq-listed KindlyMD announced its plan to issue $5 billion in stock to expand its Bitcoin treasury operations.