Coinbase Research: Bitcoin Breaks Key Support, Market Possibly in Early Stage of Long-term Downtrend

Beating AI Express News: Open-source project CodexHost has transformed Codex Desktop into a multi-agent workspace. It currently supports Codex, Claude Code, Pi, Oh My Pi, Grok Build, and DeepSeek Harness, allowing users to create and manage sessions for different agents within a single window. Codex Desktop is solely responsible for the unified interface, while each agent runs on its own harness—for example, Claude Code continues to use Agent SDK/CLI, and Pi retains its own RPC. CodexHost integrates these agents into Codex, preserving native capabilities such as tool calls, code diffs, approvals, and queries. Different agents can also assign tasks to each other: when Codex is writing code, users can separately launch Claude Code for code review, enabling parallel work between the two, after which Codex processes the results. This means multiple coding agents can be scheduled simultaneously within one Codex window. Installing CodexHost does not modify the official Codex or replace Codex CLI. Directly opening Codex Desktop or running Codex CLI in daily use bypasses CodexHost, which only takes effect when launched via CodexHost.

Dongcha Beating AI Newsflash: Zhipu (02513.HK) announced that it generated revenue of RMB 954 million in the first half of 2026, a year-on-year increase of 399.7%, while its adjusted net loss for the period stood at RMB 1.964 billion. Among the total revenue, the open platform and API business contributed approximately RMB 825 million (around USD 123 million), surging 2735.7% year-on-year.

According to DefiLlama data, Robinhood Chain’s 24-hour DEX trading volume hit ~$1.33 billion, marking four consecutive days of new all-time highs for daily volume. Its 7-day trading volume stood at ~$6.16 billion, with a week-over-week growth of roughly 79%. The $1.33 billion daily volume outpaced concurrent figures from Ethereum Mainnet ($993 million), BNB Chain ($962 million), and Base ($881 million), ranking second only to Solana ($1.86 billion). Notably, Robinhood Chain’s DeFi TVL is just $725 million—roughly 13% of Solana, Base, and BSC’s respective TVLs, and around 1.5% of Ethereum’s. However, driven by high meme coin trading activity, Robinhood Chain generated $1.07 million in chain fees over the past 24 hours, equal to the combined fees of Ethereum ($362,000) and Solana ($677,000) in the same period, making it the highest-fee chain across the network (excluding application layers). According to DefiLlama’s retained revenue calculations based on on-chain economic models, Robinhood Chain’s 24-hour revenue reached $963,000, far exceeding Ethereum ($70,000), Solana ($84,000), BSC ($44,000), and Base ($93,000)—three times the combined revenue of these other major public chains. This does not mean Robinhood’s overall ecosystem revenue has surpassed Solana or Ethereum, as DefiLlama’s on-chain revenue metric only measures network-level income. Robinhood Chain’s outlier revenue is essentially a result of the meme coin trading boom combined with its L2 sequencer economic model. Unlike Ethereum, Solana, BSC, and other chains, Robinhood Chain retains most user gas fees after covering Ethereum data costs and Arbitrum royalty splits, so network-level revenue is rapidly amplified when high-frequency meme coin trading surges.

According to market data from BIT (bit.com), U.S. pre-market crypto-related stocks rose broadly, with specific gains: CRCL up 0.68%, MSTR up 2.01%, COIN up 1.31%, BMNR up 0.92%, SBET up 0.61%, and PURR up 5.93%.

Serenity posted on social media that if Celestial (which has since been acquired by Marvell) had remained an independent company and listed in the U.S. market at the time, its valuation could have reached $6 billion to $10 billion. Serenity noted that Celestial had previously projected its revenue would hit $5 billion in 2028 (annualized based on the fourth quarter) and climb to $10 billion in 2029, adding that the firm is a core participant in co-packaged optics (CPO) projects for hyperscale cloud providers. By comparison, Celestial’s revenue in the second quarter of 2026 was nearly zero. Marvell has stated that the unit’s revenue and profit contribution post-acquisition was “not material”, with a quarterly loss of roughly $12.5 million, translating to an annualized loss of about $50 million. Serenity argued that judging Celestial solely by its current quarter price-to-sales (P/S) ratio and $12.5 million quarterly loss could label it a “worthless meme stock”; however, factoring in its qualification cycle and potential hyperscale cloud CPO project opportunities in 2028, its fair valuation should range from $6 billion to $10 billion. Serenity further pointed out that how to evaluate hard tech companies still in the early stages of customer qualification and commercialization highlights a core divergence between U.S. and European markets and cultures. It holds that for such firms, future revenue potential from large-scale commercialization and progress in customer qualification are far more worthy of attention than current quarterly revenue and losses.

Beating AI News: Anthropic is sending security alerts to select Claude users after the company discovered hackers stealing Claude login sessions from malware-infected devices to access accounts and deplete user quotas. Users on Reddit have already shared screenshots of the alert emails they received. Unlike stolen passwords, the compromised assets are already-authenticated browser sessions, which let attackers impersonate users directly without re-entering passwords or completing two-factor authentication (2FA). One affected user noted they logged in via Google and had 2FA enabled, yet their browser cookies and session IDs were still stolen together. Anthropic named several information-stealing trojans in the email, including Windows-based Vidar, LummaC2, StealC, RedLine, Acreed, and Mac-based Atomic Stealer (AMOS). These are all malware designed to steal browser cookies, passwords, and other data, not security flaws in Claude itself. The user added they had previously downloaded pirated software, which likely led to the infection. Anthropic said it has terminated detected suspicious login sessions, removed saved payment methods from affected accounts, and resolved related unauthorized charges. The company also emphasized that changing passwords alone will not fix the issue—if malware on the device is not removed, newly generated login sessions may still be stolen.