Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

A-share listed company Yushu opened lower, currently down 15.01%, with a market capitalization of RMB 298.09 billion, after closing up 460% yesterday.

BitMEX co-founder Arthur Hayes has published a lengthy article titled *The Book of Genesis*, introducing the vision for Flop Labs and Flop Network, two initiatives he backs, while exploring the development direction of the AI agent economy and decentralized computing power markets. Hayes argues that as AI agents grow in scale, future AI will need the ability to autonomously acquire computing power, store memories, and participate in economic activities. However, the current AI computing power market relies heavily on centralized platforms, lacking a unified global market priced by actual computing resources (FLOPs, floating-point operations per second). He proposes that Flop Network will build a blockchain-based decentralized computing network, using the "Proof of Useful Inference (PoUI)" mechanism, allowing computing resource providers to earn the native token $FLOP by contributing their computing power. Hayes states that the FLOP token represents direct equity in the network’s computing resources, and will serve as the base currency for AI agents to access computing resources, store memories, and conduct transactions. He believes that if the AI agent economy continues to grow, Flop Network could become a critical infrastructure linking AI and the crypto economy. Additionally, Hayes says Flop Network will avoid the large-scale pre-sale model of traditional projects, planning to airdrop approximately 20% of its total token supply to testnet participants to advance a community-first development model. The project is still in the construction phase, with more technical details to be announced later.

Renowned investor Duan Yongping took to Xueqiu to post an article with an attached image disclosing his holdings related to Micron Technology (MU). He stated that those purchasing short-term options are likely gambling, while sellers are probably acting as insurers or running a casino, highlighting the need to control odds via rules; selling put options depends on understanding the underlying business (i.e., probability or win rate). He emphasized that one should not expect to win every trade, and must never engage with anything they do not understand. The image shows his recent trading activity includes: multiple positions in Micron’s August-expiring $870 put options that expired worthless; on August 11, he sold 100 August 26-expiring $870 call options at $37.55 each, collecting a premium of roughly $375,500; on August 10, as his put options were exercised, he was allocated 10,000 Micron shares at a cost of $870 per share, totaling $8.7 million.

South Korea’s KOSPI index extended its intraday rally to 5%. South Korean exchanges have activated the sidecar mechanism, suspending programmatic buying for the Korea Composite Stock Price Index (KOSPI).

What a coincidence! 13 hours ago, a whale created a new wallet (0xedcd), deposited 20M $USDC into Hyperliquid, and opened a 4x long on 20,000 $ETH($45.38M). Shortly after he opened the position, $ETH started surging. He is now sitting on an unrealized profit of $6.66M.

US President Donald Trump said the influence of artificial intelligence (AI) could "surpass the internet and everything humanity has ever seen," calling for strengthened regulation while avoiding restrictions on the AI industry. Trump noted that the U.S. is currently a global leader in AI, and the government should promote AI infrastructure development, including accelerating the construction of data centers and supporting power facilities. He added that AI companies are building new power generation facilities to supply electricity to data centers, rather than relying on outdated power grids. Trump also urged state governments and local officials to support AI data center projects, arguing that these initiatives will generate significant jobs, tax revenue, and investment. However, he acknowledged that the AI industry faces public image challenges, with some regions opposing data centers over their high power consumption, water usage, and environmental impacts.