Circle issues an additional 250 million USDC on the Solana network.

Chainlink announced the launch of Project Pangea in collaboration with FairSquareLab, UniKA, and euro stablecoin alliance Qivalis, an initiative aimed at exploring stablecoin-based real-time cross-border foreign exchange settlement models. Project Pangea will leverage Chainlink’s data, interoperability, and orchestration standards, along with FairSquareLab’s on-chain foreign exchange settlement technology, to enable direct atomic transactions between euro, South Korean won, and other compliant fiat-pegged digital assets, while driving the foreign exchange market’s transition from the traditional T+2 settlement model to T+0 real-time settlement. UniKA’s steering committee comprises Shinhan Bank, JB Bank, Kbank, FairSquareLab, and OBDIA, with more than a dozen South Korean commercial banks participating; Qivalis is supported by 37 leading European banks. Collectively, the involved institutions represent over $10 trillion in assets under management.

According to GMGN monitoring, the market cap of BSC-based meme coin MAME (Mame Inu) surged past $10 million this morning to hit a new high, currently standing at $9.6 million with a 38% 24-hour gain and around $770,000 in trading volume over the same period. MAME is developed by the team behind KOMA (Koma Inu), which previously reached a $200 million peak market cap, and has recently managed the BabyDoge community and multiple other projects. The coin launched with much hype after days of community preheating, using a whitelist subscription model, and spiked above $7 million at opening on the evening of the 22nd. BlockBeats Note: Meme coin trading is highly volatile, largely driven by market sentiment and concept hype, with no inherent value or practical use cases. Investors should exercise caution.

According to Bitget market data, Hong Kong-listed Zhipu (02513.HK) surged over 16% intraday, and is now up 13.73% at HKD 2,472 per share. Some analysts view the recent slump in global AI stocks as Zhipu's "DeepSeek moment" — a repeat of the sharp sell-off in AI stocks triggered by DeepSeek's launch in early 2025, driven by concerns that the strength of Chinese open-source models has sparked doubts about U.S. AI dominance. Investment bank Jefferies said in a report that Zhipu's GLM-5.2 has ranked among the top three global large language models (LLMs). Nathan Lambert, senior research scientist at the Allen Institute for AI and author of Interconnects, called it a "step change" for open-source agent models, drawing parallels between the market reaction and the shock triggered by DeepSeek R1 in early 2025. The tech community’s discussion was quickly picked up by mainstream market media. Barron’s framed Tuesday’s tech stock sell-off as a return of concerns over "cheap Chinese AI," agreeing that the slump mirrored the DeepSeek shock in January. Will Denyer, an analyst at Gavekal Research, was quoted as saying that GLM-5.2 is one of the most impressive challenges China has posed to U.S. AI dominance to date. For investors, the question is not just that Chinese models are growing stronger — but whether the hundreds of billions of dollars in data center spending by U.S. big tech firms can still justify their current valuations, given that cheaper open-source models are now sufficiently capable.

Bitget has completed an upgrade to its ADL (Auto-Deleveraging) execution price mechanism. Post the upgrade, when an insurance fund account triggers ADL and matches with counterparty positions, the execution price will use the then-current Mark Price, bringing ADL execution prices closer to actual market levels. This allows users to more accurately assess the potential impact of ADL on their positions and strategies, supporting better risk management and strategy planning.

CoinUp stated that recent tweets by Binance co-founder He Yi on X regarding personal disputes involving Zhu Pan have drawn market attention to the platform. In response, CoinUp has repeatedly clarified that Zhu Pan is not a member of CoinUp, but rather the project party of a project listed on the platform. CoinUp’s core business, risk control system, product services, and daily operations are fully managed by its independent team, and any claims directly linking his personal actions to the CoinUp platform are inaccurate interpretations. CoinUp also noted that improper interpretations made by some netizens and social media accounts based on false information have caused serious negative impacts on the platform’s reputation. In response to false allegations such as “runaway” and “fraud”, CoinUp firmly denies these claims, reserves the right to pursue relevant responsibilities in accordance with the law, and calls on all users and industry peers to base their actions on facts, refrain from spreading rumors, and not believe unsubstantiated claims. CoinUp emphasized that the platform’s current deposit, withdrawal, and trading functions are all operating normally. Its wallet system, account infrastructure, and asset custody are running safely and stably, with user assets and data remaining intact. The recent sharp short-term fluctuations in CPX/USDT are mainly due to concentrated selling pressure from the market side; the platform has launched a comprehensive investigation and will continue to update relevant progress. CoinUp stated that since its establishment, it has always prioritized user asset security and compliant platform operations. The platform will continue to engage with the market and users with a transparent and responsible attitude, noting that any individual actions should not be improperly linked to the platform itself. CoinUp also thanked all users for their continuous trust and support.

According to Hyperinsight monitoring, ahead of Micron Technology (MU)’s earnings report, trading activity on Hyperliquid’s MU contract has surged significantly. The 24-hour trading volume is approximately $459 million, while open interest stands at $195 million. The contract price hit around $1,030 in the early hours of today before rebounding, and is now trading at $1,091. Between last night and this morning, two major on-chain short whales successively opened MU short positions, with a combined size of $8.3 million at an average entry price of around $1,071. They are currently facing small floating losses, and their latest liquidation line is at $1,470. The two addresses collectively hold $55.5 million in total US stock short positions, one of which belongs to well-known trader CBB. The addresses are: 0xda3768e9299e1fd81708ec030dac5ea37125f7b5; 0x49e96e255ba418d08e66c35b588e2f2f3766e1d0