Dingdian Finance is set to announce the launch of the Hong Kong dollar stablecoin 'HKDAP'.

According to a report by Shanghai Securities News, Alibaba has finalized the pricing of its new share placement worth HK$80 billion (approximately US$10.2 billion). All net proceeds from the placement will be allocated to investments in full-stack AI capabilities and the enhancement of AI infrastructure. A source close to the transaction revealed that the offering was nearly three times oversubscribed, attracting over HK$200 billion in subscriptions. Sovereign wealth funds and long-term investors ultimately accounted for more than 40% of total subscriptions, indicating strong demand and high order quality. Alibaba’s clear return path for its AI investment has earned the trust of global long-term capital, with major sovereign funds from regions including the Middle East, Europe, and Asia actively participating in the subscription.

According to Bitget market data, South Korea’s KOSPI index closed down 215.99 points, or 3.12%, at 6696.96 points on Monday, August 24. Japan’s Nikkei 225 index fell 488.27 points, a 0.74% decline, to 65528.09 points in the same session.

Alibaba announced Sunday that it plans to conduct a new share placement in Hong Kong. The company said the total size of the offering is HK$80 billion (US$10.2 billion), which will be the largest primary follow-on offering in the history of Hong Kong-listed firms. Following the news, Alibaba’s Hong Kong-listed shares opened lower and trended downward today, with the intraday maximum drop exceeding 10% and the current decline narrowing to 9% per Bitget market data. The Hang Seng Index was dragged down by the stock, falling 1.9% on the day, while the Hang Seng Tech Index dropped 3.58%. Separately, "Big Short" investor Michael Burry updated his views on Alibaba on X, revealing he had switched his Alibaba position to JD.com a few months ago. "Issuing stocks is now Alibaba's new normal. I won't consider it again unless the stock falls by half from here."

The total number of accounts on #TRON has officially surpassed 400,000,000!

Upbit has placed The Sandbox (SAND) on its trading alert list, and deposit and withdrawal services for the token are currently suspended. On August 22, The Sandbox confirmed a cross-chain bridge vulnerability affecting the Base and BSC networks, with the project’s official team suspending cross-chain functions.

According to reports from authoritative outlets including Reuters, U.S. Treasury Secretary Scott Bessent will unveil details of new sanctions on Iran at 2 p.m. Eastern Time, equivalent to 2 a.m. Beijing time tomorrow. The crypto market has been rallying for several consecutive days ahead of these Iran sanctions, so if the details exceed market expectations, significant volatility is likely to hit both the stock market and crypto assets. Earlier, Bessent wrote in the Financial Times that the U.S. is entering a decisive phase, with an economic "D-Day" for Iran approaching at dawn—what he termed the largest financial offensive ever launched against an adversary. When elaborating on the related sanctions measures, Bessent specifically added that "no further 'large-scale' military operations are expected."