DoubleZero Co-founder Responds to Solana-Related FUD

Insight Beating AI Flash News: ByteDance’s CapCut (the international version of Jianying) announced it will integrate video generation and editing tools with ChatGPT, with a public beta set to launch in November this year across mobile, desktop, and web platforms. In an official demo, users upload five football videos directly to ChatGPT and request a 12-second highlight reel. ChatGPT then plans a 9:16 vertical aspect ratio, fast-paced transitions, and visual style, before calling CapCut to generate a draft video. The editing timeline appears alongside the chat interface, and users can further request additions like "GOAL!" subtitles. Once complete, users can also switch to CapCut’s web editor for fine-tuning, sharing, and publishing. Notably, CapCut already integrated ChatGPT back in 2023. At that time, users only needed to describe the video theme; the plugin would automatically generate scripts, voiceovers, subtitles, and stitch together footage, but they had to switch to CapCut to edit the final product.

According to official announcements, Upbit has confirmed that Inicia (INIT) has experienced an unexplained or unresolved security incident such as a hack in its virtual assets, virtual asset wallets controlled by the issuer or operator, or distributed ledgers used for the issuance, transmission, and storage of virtual assets. Given the potential harm to users and to protect investors, Upbit has designated Inicia (INIT) as a "Transaction Attention Project". Deposits and withdrawals for INIT have been suspended. When services resume in the future, only withdrawal services will be restored first; the resumption of deposit services will be announced separately in line with the procedures following the designation as a Transaction Attention Project.

According to on-chain analyst Yu Jin Monitoring, a long-time Ethereum whale has begun transferring its long-held ETH. Over the past two hours, 5,000 ETH were moved out, with 1,500 tokens (valued at approximately $3.45 million) deposited into a centralized exchange (CEX). The whale purchased 100,000 ETH in 2015 at $0.311 per token, totaling around $31,100 in costs. In 2016, it sold 50,000 of these ETH at $5.47 each, generating roughly $273,500 in proceeds and a profit of about $258,000. The remaining 50,000 ETH were held long-term, with transfers only commencing recently.

According to HTX market data, Bitcoin has rebounded above $80,000, currently trading at $80,072.

Elon Musk responded to investor Chamath Palihapitiya on social media, stating that SpaceX has completed approximately $40 billion in debt financing to purchase graphics processing units (GPUs). He also predicted that more than 200 so-called "neoclouds" — new AI cloud service providers — will face widespread failures and consolidation due to tightening credit markets. Palihapitiya noted that neoclouds are disorganized and undercapitalized, while hyperscale cloud vendors suffer from severe bureaucratic decision-making. He warned that construction delays could lead to massive "stranded computing capacity" by 2027, with hardware purchased but generating returns below the cost of capital stuck in unfinished data centers. Musk echoed those remarks, adding that debt markets have "almost completely cut off financing for companies that lack significant revenue streams independent of AI data centers." This means more than 200 neoclouds will face widespread failures and consolidation; a few will survive, but not many. Additionally, Musk made clear that SpaceX will not acquire any neoclouds, calling such moves "pointless."

Cross-chain automated trading tool Bloom Trading has suffered a mass user theft incident, with approximately $954,000 in funds transferred to suspected hacker addresses. Hackers stole 9,408 SOL tokens from 49 victims via one compromised wallet, and the total stolen amount is likely far higher. The single largest individual theft reached 1,636 SOL, equivalent to around $166,000. The platform advises users to immediately disconnect and move their funds to new wallets. In response, Bloom Trading’s official team is currently investigating the issue, confirming other wallets remain secure. Out of an abundance of caution, the platform will temporarily suspend some services and is working to resume operations as soon as possible.