Bonk Guy’s assets have shrunk by $5 million in the past 24 hours, and he has issued another bullish call for USELESS, urging investors to seize the "bottom-fishing opportunity".

U.S. Senator Cynthia Lummis has stated that the recent lawsuit against Tether over its freezing of $42.4 million in USDT underscores regulatory gaps in the crypto industry’s efforts to combat illicit financial activities. She noted that stablecoin issuers and trading platforms currently face the risk of civil lawsuits if they freeze assets suspected of being tied to illegal activity. Lummis explained that Section 305 of the Clear Digital Asset Market Structure Act would grant stablecoin issuers and trading platforms the necessary authority to promptly freeze stablecoins suspected of involvement in illicit activities, while protecting them from resulting civil liability. She argued that this provision would help the crypto industry more effectively stop illicit fund flows and resolve the legal risks that issuers and platforms currently encounter when implementing compliance measures.

Coinbase has announced a partnership with fintech firm Moov to deliver stablecoin infrastructure for small and community banks, enabling over 1,000 banks to receive, settle, and execute real-time stablecoin fund transfers via their existing technology systems. The company stated that the collaboration aims to allow banks to integrate stablecoin-related services on top of their current tech architecture, noting that this reflects the development direction of regulated stablecoin infrastructure.

US initial jobless claims for the week ending September 5 totaled 206,000, against a forecast of 205,000, while the prior week's reading was revised from 206,000 to 207,000. (Jinshi)

According to official announcements, Spark will shut down its SparkLend lending protocol on Gnosis Chain on September 14. After the service termination, all outstanding loans may face liquidation, and users are advised to repay their debts and withdraw collateral before the deadline.

Beating AI Express: Tencent Hunyuan has open-sourced AuK, a 1.5-billion-parameter speech generation and editing model, which the official dubs the "audio version of Nano Banana". The model integrates functions including voice cloning, word editing, emotion switching, accent removal, speed and pitch adjustment, noise reduction, and multi-person/music separation, all controllable via natural language. AuK can directly modify existing recordings: it only adjusts incorrect words without re-recording the entire segment, alters emotion/timbre/accent while keeping content unchanged, edits lyrics, removes laughter/coughs, and converts normal speech to whispers. Notably, its voice cloning does not require a reference transcript—only a sample audio and new text are needed. In official tests, AuK leads in multiple speech generation and general speech editing benchmarks, scoring 49.73 on SpeechEditBench, while second-place Ming-UniAudio scores 28.70. The fast variant AuK-Flash, after distillation, needs just 4 inference steps and runs ~4.5x faster. However, the paper notes AuK cannot yet reliably understand all arbitrary natural language inputs, still relying on a Prompt Enhancer to identify tasks, organize parameters and rewrite instructions. Code and model weights are now public under the MIT license.

Beating AI News Flash: Moonshot AI is considering a dual listing on the Hong Kong Stock Exchange (HKEX) and the Shanghai Stock Exchange’s STAR Market. The company has confidentially filed an IPO application with HKEX, and is now signaling to investors that it may list on the STAR Market after its Hong Kong debut. The STAR Market plan remains in the exploratory stage and has not been finalized by the firm. For its Hong Kong listing, Moonshot AI aims to raise around $30 billion, with a potential earliest launch in Q1 2027. The company is currently advancing its final pre-IPO financing round, with a valuation of approximately $50 billion. Moonshot AI’s consideration of a STAR Market listing is partly due to recent weak share performance of AI firms listed in Hong Kong, plus the large number of companies waiting to list on HKEX. A dual listing would add an extra financing channel and expand its investor reach. The STAR Market relaxed its fifth set of listing rules specifically for large language model (LLM) companies in June this year, allowing firms that have not yet achieved a certain revenue scale to apply. One key requirement is that the company must have at least one LLM product launched and realize large-scale commercial application.