Alliance Co-Founder: Competition Between Pump and Fomo Could Drive On-Chain Finance to the Mass Market

Morgan Stanley says growing access to computing power and fresh financing are supporting Zhipu AI’s stronger growth, lifting its target price for the firm by nearly 72% to HK$1,700. The bank’s report notes that China’s large language model (LLM) sector is building a healthier commercialization environment, a view that differs from the market’s widespread belief that China’s open-weight large models will lead to product homogenization and price wars.

Morgan Stanley maintains a constructive outlook on MiniMax, noting that the upcoming M3 upgrade version and M3 Pro will serve as key catalysts. However, the firm believes more of its growth will materialize in the later stage, and has cut its price target to HK$900.

South Korean exchanges have activated the SIDECAR mechanism, suspending KOSDAQ's programmatic buy orders.

Unitree kicked off its IPO subscription today. The latest pre-IPO perpetual contract for Unitree on Trade.xyz is quoted at $86.4, equivalent to approximately RMB 582.99. Based on the post-IPO total share count of around 404 million, the corresponding market cap is roughly $34.9 billion, or RMB 235.5 billion. Unitree’s IPO offering price is RMB 150.8 per share, with the pre-market contract price standing at about 3.86 times the offering price. The STAR Market IPO plans to issue 40.4464 million shares, accounting for 10% of the post-IPO total share count; one lot equals 500 shares, with a single lot subscription payment of approximately RMB 75,400. Calculated at Trade.xyz’s latest price, 500 shares are worth around RMB 291,400. After deducting the RMB 75,400 subscription payment, the potential profit per lot is roughly RMB 216,000, translating to a potential return of around 286% on the subscription amount. Additionally, as of press time, Unitree’s 24-hour trading volume on Trade.xyz stands at $1.62 million, with open interest reaching $7.72 million. Trading activity still has room to rise, and there remains uncertainty regarding future pricing.

This whale sold another 1,019 $BTC($66.4M) 7 hours ago. Over the past 3 weeks, this whale has sold a total of 7,513 $BTC($486.9M).

According to monitoring by Specter, wallets linked to crypto processing platform Coinsbuy were hacked on Ethereum and TRON, leading to the theft of over $7.9 million. The attackers subsequently laundered the stolen funds into Monero (XMR) via cryptocurrency exchanges. Coinsbuy stated that with support from ChangeNOW, it has successfully frozen six-figure amounts of the misappropriated funds. Following the incident, Coinsbuy temporarily suspended its deposit and withdrawal services, which have now been restored. Coinsbuy is a crypto processing platform primarily serving business users such as enterprises, merchants, and exchanges.