Wall Street turns to AI to slash legal fees: Beyond saving man-hours, firms are also lowering their fee quotes.

Wintermute stated in a report that Warsh’s speech at the Jackson Hole Annual Meeting has pushed market expectations for a September interest rate hike to 61.9%. The September 15-16 FOMC meeting will serve as a key catalyst for risk assets, including the crypto market. In August’s cross-asset performance: 20+ year US Treasuries rose 1.01%, the S&P 500 gained 0.47%, Nasdaq advanced 0.42%, BTC climbed 0.10%, ETH dropped 0.86%, while gold and Brent crude oil rose 3.42% and 4.31% respectively. Over the past week, BTC has consolidated its prior 23% rally, briefly breaking above $81,000 before falling back below $78,000 after Warsh’s speech, ending the week up 0.10%. Wintermute noted that despite the Fed’s hawkish remarks, a pullback in chip stocks, and month-end factors, BTC has not reversed its earlier breakout, with overall performance remaining relatively positive. However, $82,000 has repeatedly acted as a resistance zone. Current underallocation to BTC by some investors remains an important support for its price. BTC’s key current levels are $75,000 (support) and $82,000 (resistance); if it closes below $72,000 on a weekly basis, there will be no clear support below that level. In the short term, a healthier move would see BTC retest the $75,000 level, complete deleveraging, before attempting to break higher. Wintermute added that the first two weeks of September will significantly impact market direction. The non-farm payrolls data due September 4 could notably shift interest rate expectations ahead of the FOMC meeting. Two key signals will be watched for any change in its outlook: weekly net outflows from BTC ETFs, or a weekly close of BTC below $72,000.

Dongcha Beating AI News Flash, September 1 – Nubia’s NaviX Ultra has officially obtained a network access license from China’s Ministry of Industry and Information Technology (MIIT), completing the full compliance process from large model filing to terminal network access. This marks the world’s first AI agent smartphone advancing from concept verification to large-scale commercialization. The device will be equipped with the Doubao Mobile Assistant, positioned as a mass-produced flagship, and is scheduled to launch and go on sale in September.

According to GMGN market data, a new meme token named Fable on Robinhood Chain briefly saw its market cap surge past $10 million, hitting a high of $12.77 million before trading at $9.04 million as of press time, with a 24-hour trading volume of $9.6 million. Fable (also referred to as i am fable) is an experimental meme token on Robinhood Chain. Creator Kevin Ngo had Claude Fable 5 build its own personal website; after integrating a crypto wallet, the AI agent independently issued the token.

According to GMGN market data, the newly launched Meme token "fable" on Robinhood Chain suffered a flash crash, plunging more than 90% in just two minutes. The token’s current market capitalization stands at $1.54 million, having hit a low of $760,000, with a 24-hour trading volume of $11.7 million.

According to an official announcement, Bitget has launched U.S. dollar-margined MARSCOIN perpetual contracts, offering up to 20x leverage, with contract trading bots launching concurrently.

Insight Beating AI Flash News: OpenAI has hired three new team members for its Codex and ChatGPT divisions in a single day. Nan Yu, product lead at Linear, announced he is joining OpenAI after four years at Linear. Shortly after, Manas Bam and Samarth Patel, co-founders of Kairos Computer, also announced their joining, with all three assigned to work on Codex and ChatGPT. Kairos builds personal agents capable of direct computer operation: it provides agents with a cloud PC, allowing them to log into websites, operate browsers and software, and complete cross-application tasks independently. The two co-founders stated that when they founded Kairos, their goal was to create “personal AGI for everyone”, and they are now joining OpenAI to continue this work.