Preview: US Treasury Secretary Scott Bessent will unveil details on Iran sanctions at 2:00 tomorrow, which may trigger market volatility.

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.

As Bitcoin prices surged, spot Bitcoin ETFs posted their strongest weekly net inflow in 10 months last week. Data indicates the 13 U.S.-listed funds attracted a net $1.92 billion, the highest such figure since October last year. The inflow came amid Bitcoin’s roughly 23% price jump last week, marking its largest weekly gain in over three years.