Tesla launches Doubao large language model

According to market data from BIT (bit.com), Marvell Technology (MRVL) is up 7.76% in pre-market trading, currently trading at $232.77. In related news, Marvell Technology has issued a warrant to Google, allowing Google to purchase up to 58.97 million Marvell shares at $206.58 per share, equivalent to around 6.7% of Marvell’s outstanding shares. Most of the warrant will vest gradually as Google generates custom chip-related revenue for Marvell through the period ending in fiscal 2033, covering products including AI accelerators, networking products and storage products.

According to market reports, the U.S. Treasury Department has announced an increase in the issuance volume of nominal long-term Treasury bonds.

Renowned crypto KOL Ansem has published a post noting that institutional funds are turning bullish on the crypto market, pointing to examples including billionaire Stanley Druckenmiller’s purchase of HYPE, Robinhood’s launch of its own layer-2 (L2) network, and hedge fund giant Paul Tudor Jones’ increased Bitcoin positions. He also highlighted that the regulatory environment for the crypto industry is improving significantly, while native crypto investors remain broadly strongly bearish and pessimistic. Ansem argues that this mix—of institutional capital turning bullish, an improved regulatory landscape, and extreme pessimism among market participants—constitutes a classic condition for the crypto market to bottom out.

Arthur Hayes posted that FLOP has not yet released its whitepaper, as the team is still communicating with relevant stakeholders to ensure the final plan is sufficiently robust in technical design and tokenomics. The team chose to announce FLOP early to gather more feedback, and simple yet informative charts detailing FLOP’s tokenomics design will be rolled out starting next week. Earlier reports noted that Arthur Hayes announced he would end his retirement to return to lead Flop Labs and launch the FLOP token. He explained that FLOP will serve as "the fuel for AI Agents", with the project eschewing pre-sales and VC involvement, adopting a 100% fair launch model to build the currency for the Agentic Economy. A large-scale airdrop is scheduled for Q4 2026, with the genesis block set to launch in Q1 2027.

Unitree Robotics successfully completed its IPO today. Founder Wang Xingxing, Sequoia Capital’s Shen Nanpeng, and renowned singer Wang Leehom attended the post-IPO celebration banquet. In his speech, Wang Leehom recalled his experience collaborating with Unitree on a humanoid robot stage performance. Wang said that over a year ago, he first visited Unitree hoping the company would design a movable mechanical piano for his concert, but Wang Xingxing replied: "We don’t make pianos, but we make humanoid robots." After that, the Unitree team input thousands of movements into the robots via motion capture and worked to integrate them into the entire concert’s complex choreography. During the final rehearsal, the robots faced an issue where their timing gradually slowed down. Wang noted that Unitree’s engineering team then worked overnight to write new code, synchronized the robots with the lighting system’s timecode, and completed adjustments before the official show, allowing the performance to proceed smoothly. He added that when facing tasks they had never done before, the team repeatedly responded: "We haven’t done this before, but we can definitely do it." Wang also mentioned that the day after the performance, Elon Musk shared the related video and commented "Impressive." At the celebration banquet, Wang Leehom said: "Today, the financial world is also abuzz," and extended his congratulations to Wang Xingxing and the Unitree team.

According to a Wall Street Journal report, Cantor Fitzgerald plans to open its Kalshi prediction markets to roughly 3,000 institutional clients—including family offices and hedge funds—who will be able to trade contracts tied to events such as weather, commodities, and corporate performance. Susquehanna International Group will provide quotes and liquidity for these trades. Cantor will act as a broker, facilitating the purchase and sale of bulk event contracts for clients, and may distribute related positions to other investors via private negotiations. Pascal Bandelier, co-CEO of Cantor, noted that hedge funds have expressed interest in trading event contracts linked to iPhone sales, rather than betting on sales shifts indirectly through Apple’s stock price; family offices, meanwhile, are focused on using contracts tied to weather, crop yields, and oil prices for risk hedging. Joe Grubb, head of business development at Susquehanna Predictions, added that AI supply chain risks and computing power prices could also serve as use cases for the prediction markets. Institutional clients can also propose new market themes based on their needs, and the companies have discussed with investors the types of contracts they aim to launch. Kalshi has been ramping up its efforts to expand its institutional client base in recent months, completing its first bulk transaction this year and partnering with Interactive Brokers. Max Crowley, vice president of business development at Kalshi, stated that institutional demand for hedging against specific event risks is already in place.