Bitget's 2026 King's Cup Global Invitational (KCGI) currently has over 20,000 participants.

According to monitoring by TradingBeats (formerly Hyperinsight), a trader nicknamed "US Stock Winner"—previously focused on US stock trading—sold all 295,300 HYPE long positions last night, at an average execution price of approximately $82.47, generating a turnover of around $24.353 million and a gross profit of roughly $277,000. The 24 non-position-reduction sell orders placed earlier remain uncanceled, with prices ranging from $99.03 to $110.74, totaling 327,300 units and a nominal value of about $34.188 million.

XRP treasury firm Evernorth Holdings announced that its S-4 registration statement filed with the U.S. Securities and Exchange Commission (SEC) has taken effect, advancing plans to list on Nasdaq via a merger with special purpose acquisition company (SPAC) Armada Acquisition Corp. II. The registration’s effectiveness does not signify the merger is finalized; the transaction still requires shareholder approval. Evernorth intends to operate as a regulated digital asset treasury firm, providing public market investors with exposure to XRP, and will allocate capital to XRP-related infrastructure and treasury strategies to increase the amount of XRP per share. The company expects the merger to close by the end of this third quarter or early fourth quarter, with the combined entity set to trade under the ticker symbol “XRPN” post-transaction. The S-4 filing covers up to 34,499,992 Class A common shares of Evernorth and 11,499,992 related warrants. Evernorth’s investors include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR, among others.

Morgan Stanley’s chief U.S. economist Michael Gapen and global head of macro strategy Matthew Hornbach expect that Federal Reserve official Christopher Waller’s speech at the Jackson Hole Economic Symposium will likely not provide much short-term interest rate guidance. Waller has repeatedly advocated for the Federal Reserve to reduce communication and forward guidance, so he is unlikely to focus on topics including the September meeting’s policy decision, December interest rate levels, the number of rate hikes or cuts this year, or short-term balance sheet policies. Morgan Stanley argues Waller may use the speech to elaborate on longer-term policy directions, covering areas such as the Fed’s balance sheet, inflation framework, communication approaches, AI and productivity, and the quality of U.S. economic data—issues tied to multiple working groups Waller has previously set up. The firm projects the speech will not prioritize previewing the September interest rate decision, but rather serve as Waller’s first relatively systematic explanation of the direction he wants to steer the Federal Reserve toward.

Insight Beating AI Flash News: Over 100 companies including OpenAI, Anthropic, Google, Microsoft, and AWS have jointly issued an open letter calling for urgent enhancement of cyber defense. Cloudflare, CrowdStrike, Cisco, Visa, and Oracle are also among the signatories. The companies warn that in the coming months, AI will drive a rise in cyberattacks that are more numerous and harder to defend against, with particularly high risks for systems such as hospitals, water treatment plants, and internet infrastructure. Previously, attackers had to spend time identifying vulnerabilities and developing attack tools; now, much of this work can be handled by AI, lowering the barrier to launching cyberattacks. The open letter puts forward several specific recommendations: enterprises should patch high-severity vulnerabilities promptly; security firms should share attack intelligence more widely; governments should provide additional funding and technical support to critical facilities like hospitals and water utilities; and AI companies including OpenAI and Anthropic should open their models, tools, and training resources to defenders, allowing security personnel to use AI to find and fix vulnerabilities.

According to on-chain analyst Yu Jin’s monitoring, an address suspected to belong to crypto firm a16z spent 36 million USDC to acquire 441,000 HYPE over two days, depositing all of it into staking at an average purchase price of $81.6. The buying activity remains ongoing: the address just transferred another 12 million USDC to Hyperliquid to purchase additional HYPE. To date, the firm’s staked HYPE holdings total 4.826 million tokens, valued at approximately $404 million, with an average entry price of around $66.1 and an unrealized profit of roughly $84.9 million.

According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) this month unveiled a proposed rule that would reopen public token sales to U.S. investors, allowing crypto startups to raise up to $5 million, and larger projects up to $75 million annually, without completing a full SEC registration process. Unlike the 2017 ICO boom, the new framework will require issuers to disclose information and may result in higher compliance costs; rules for secondary market trading of tokens post-issuance also remain complex. The proposal would also allow investment contracts attached to tokens to terminate once issuers complete or permanently cease the promised management services for investors, rather than remaining tied to tokens indefinitely. However, market demand has shifted. Speculative capital is now more concentrated in Bitcoin and a handful of major tokens, perpetual contracts, prediction markets, and AI-related stocks; the volume of token financings backed by crypto venture capital has dropped significantly, with some large VC firms expanding their investment scope to AI, robotics, and other frontier technologies. By comparison, ICOs raised roughly $3 billion in a single month at their peak in January 2018. Tom Schmidt, general partner at Dragonfly, said the proposal is “clearly better than nothing,” but the more pressing issue now is regulatory matters that the stalled CLARITY Act in Congress was meant to address, rather than financing. Carlos Guzman, a research analyst at GSR, noted that 2026’s ICO landscape is very different from 2018’s, and the era of attracting funding solely through whitepapers and visions is over.