SHELL Buyback Address has once again withdrawn 1 million tokens from Binance, and the buyback progress has reached 81.2%.

According to TradingBeats monitoring, SKHX on Hyperliquid has dropped nearly 15% in the past 24 hours, currently trading at $939.46, down roughly 12.88% from its level when last night’s CPI data was released. Amid the sharp plunge, large long positions have been liquidated one after another, incurring losses. Since last night to this morning, three verified whales have closed a total of approximately $3.881 million worth of SKHX long positions, with combined losses of around $887,000 via both stop-loss orders and forced liquidations. One whale liquidated roughly $1.493 million in long positions, taking a loss of about $347,000 (address: 0xcb13); another long trader reduced positions via voluntary loss, but their remaining positions were eventually forced liquidated, with total losses of around $261,000 in this round (address: 0x5fc2). The third whale’s approximately $1.008 million in long positions was also liquidated in batches, adding another loss of roughly $279,000 (address: 0x3b5b). All three accounts currently hold no SKHX positions. However, after the plunge pushed funding rates into negative territory, bargain-hunting funds have since flowed back. SKHX’s hourly funding rate reversed rapidly: from -0.08399% at 08:00 to +0.03080% at 09:00, and further rising to +0.03550% at 10:00, flipping the long-short pricing dynamic for the contract. Long liquidation risks remain unresolved. Liquidation distribution data shows that around $5.09 million in potential long liquidation exposure is clustered near the $888 level for SKHX, roughly 5.5% below the current price. If the price continues to drop, this area will be a key watch point for the next round of leveraged long positions being forced out.

Vitalik Buterin posted on social media to congratulate the Airbender team, stating that the speed race has come to a complete end, and the top priority for zkEVMs should fully shift to security. He noted that this requires formal verification of the following: the equivalence between arithmeticization and Ethereum specifications, a hard upper limit on the ratio of proof cost to block gas limit, and proof of the system’s own security.

Rumors are circulating in the market that 98-year-old Li Ka-shing has passed away. An insider from Cheung Kong Holdings (01113.HK) responded, saying: "This is completely untrue."

Beating AI News Flash: Ant Group’s Ling large model has announced the open-source release of Ling-3.1-flash. Positioned as "truly usable", the model features upgraded capabilities for real-world tasks, enabling faster conversion of ambiguous business requirements into actionable results. The open-source model’s weights are available for download on Hugging Face and ModelScope. Ling-3.1-flash inherits the mixed linear architecture of Ling-3.0-flash, boasting approximately 560B total parameters, with around 25B parameters activated per token, and supporting up to a 1M-token context window. The model delivers high-quality performance across complex workflows including office work, healthcare, software engineering, and terminal operations. When handling scattered data, it can assist in organizing reports and presentation materials; for fragmented symptoms, it helps sort out medical histories and consultation issues; for legacy code, it can understand existing implementations, write new features, and revise them based on test outcomes. In the office task evaluation GDPVal-AA V2.1, Ling-3.1-flash scored 1673 ELO points. In the HealthBench Professional medical scenario benchmark, it achieved a score of 65.35. It also demonstrated strong proficiency in complex engineering tasks in the software engineering benchmark FrontierSWE and terminal operation benchmark Terminal-Bench 4.0.

DeepSeek has encountered another service outage today. Its official status page shows the outage started at 08:11, affecting the web-based chat service, V4 Pro and V4.1 Flash APIs. The company announced at 09:08 that it had pinpointed the root cause and was implementing repairs. However, as of 11:53, the outage had persisted for over three and a half hours with no resolution yet.

Beating AI Express: 17-year-old AI researcher Nathan Chen (Chen Guangyu) announced he has recently left the Kimi team of Moonshot AI. He joined in November 2025 at just 16 years old, with his tenure lasting less than a year. Chen stated that the past year has been the best experience of his life to date, but he did not disclose the reason for his departure or his next career move. Chen gained prominence for Kimi’s Attention Residuals paper—research publicly praised by Elon Musk—for which he, Zhang Yu, and Su Jianlin served as co-first authors. Su Jianlin first proposed replacing traditional residual connections with attention mechanisms and validated the preliminary effects. Chen and Zhang later joined the study, co-developing Block AttnRes, a design that reduces memory usage and communication overhead, enabling the architecture to be applied to large-scale model training, and was subsequently adopted in Kimi K3. In his departure post, Chen also reviewed other work he contributed to: he and Zhang optimized the GPU compute kernel for Kimi Delta Attention, researched model training optimizers, and helped create the demo cases for K3’s launch. He thanked the team for offering him the opportunity when he was only 16, adding that he plans to continue exploring more directions in the future.