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During the promotion of the GENIUS Act by former White House crypto advisor Bo Hines, the consulting firm Nxum, which he co-founded and holds shares in, established a business relationship with Tether. Tether paid over 6 million dollars to Nxum, with the related funds distributed among three partners.Although Hines has exited the daily operations of Nxum, he continued to discuss the act with partners via Signal during his tenure. After the GENIUS Act was signed into law in July 2025, Hines left in August and was appointed CEO of Tether's U.S. stablecoin business in September, raising questions about potential conflicts of interest.

Goldman Sachs Chief China Equity Strategist Liu Jinjun and his team released a report stating that since the "DeepSeek Moment" at the beginning of 2025, Chinese AI-related listed companies have created a market value of nearly $5 trillion through stock price increases and IPOs. Currently, AI stocks account for 42% of the total market capitalization in the A-shares and Hong Kong stock markets, and 57% of the total trading volume.The report also mentioned that China has always been a key exporter in the global AI supply chain, holding about 50% of the global market share in certain AI power and infrastructure sectors. With the advancement of domestic AI technology, China has gradually established an internal circulation AI value chain that encompasses advanced semiconductors, open-weight large language models, and application layers.

An important ruling has been made by a UK court regarding the cross-border asset recovery dispute involving over 61,000 Bitcoins related to the illegal fundraising case of Tianjin Blue Sky Ge Rui in China. On October 12, local time, a judgment obtained by Caixin from the High Court of England and Wales indicated that the UK High Court determined that the property rights claims made by Chinese investors regarding the Bitcoins in question should be judged according to Chinese law rather than UK law.This means that approximately 16,000 Chinese victims who have participated in the UK recovery process may not be able to share in the substantial appreciation gains brought about by the soaring Bitcoin prices under UK law, and can at most recover their principal and interest.

According to foreign media reports, at a forum held by DBS Bank on Monday, Jensen Huang stated that the performance of Chinese AI models (including DeepSeek, Kimi, and GLM) has already been outstanding.Jensen Huang claimed that he is a staunch supporter of open source, stating that open source is the best way to drive efficiency improvements, and the market will determine which models are most suitable for different application scenarios. He also mentioned that quantum computing may enter mainstream applications within the next 3 to 5 years, and software will play an important role in promoting the efficient use of related infrastructure.

According to Nikkei Asia, chip design software leader Synopsys is seeking to collaborate with Chinese large language model developers, planning to use the AI version of its tools to help Chinese companies develop chips faster, and stated that it will carry out related work within the scope of tightening artificial intelligence and semiconductor export controls in Washington.The report states that Synopsys expects a revenue of $11.15 billion for the fiscal year 2027, with collaborations with OpenAI and Amazon driving its artificial intelligence business. Synopsys is headquartered in Palo Alto, California, and is a global leader in chip design software.

A luxury villa near Pattaya, Thailand, was the scene of an armed robbery, where three armed individuals broke into a gated community, took control of a Chinese national with Turkish citizenship, and forced him to open a safe and hand over cash and three luxury watches. The attackers also threatened the victim at gunpoint to transfer $820,000 worth of cryptocurrency into one of their wallets, which was then immediately sold.After escaping, the victim reported the incident to the police, who have yet to confirm the nationalities of the three suspects. The police's second district has launched an investigation and identified the vehicle used in the crime through surveillance; the vehicle was later abandoned in a remote area. The police are tracking the sold digital assets to identify the related accounts and recover the funds. Chainalysis estimates that such violent robberies have stolen over $30 million in cryptocurrency in the first half of 2026.

According to Gate market data, most popular Chinese concept stocks have declined, with Futu Holdings down over 7%, Tiger Brokers down nearly 4%, Baidu and TSMC down over 2%, and Alibaba down nearly 2%.

According to The Block, cryptocurrency mining company Fortitude has secured a priority procurement quota for Bitmain's next-generation Zcash mining machines, with both parties reaching a non-binding commitment that could potentially amount to up to $100 million.Under the agreement, the relevant mining machines are expected to begin delivery in the second quarter of 2027, with the specific timing still dependent on final product specifications and pricing arrangements. It is reported that this collaboration will help Fortitude to strategically position itself for the new generation of Zcash mining equipment and further expand its infrastructure capabilities in the privacy coin mining sector.

According to the South China Morning Post, former U.S. officials stated that Chinese semiconductor factories have stockpiled hundreds of immersion lithography machines worth billions of dollars in recent years and urged Washington and its allies to stop further exports. The Centre for Technology & Statecraft, established in August 2026, released a report in late September estimating that by early 2026, Chinese wafer fabs had acquired approximately 343 immersion deep ultraviolet lithography systems. The report was co-authored by former U.S. export control official Nicholas Brown and former White House and Department of Commerce technology policy advisor Saif Khan.The report estimates that about 270 of these are ASML Twinscan NXT:1980i. The authors claim that although these devices lag behind extreme ultraviolet lithography machines, they can be modified for the production of 7-nanometer logic chips and advanced memory required for artificial intelligence processors (including Huawei's Ascend series). Chinese wafer fabs spent over $13 billion in 2024 to purchase about 90 NXT:1980i units, and acquired another 89 units in 2025. ASML disclosed that, by destination, China accounted for 41% of its net system sales in 2024, 33% in 2025, dropping to 19% in the first quarter of 2026 and 14% in the second quarter.Since September 2023, the Netherlands has required export licenses for the NXT:2000i and more advanced immersion deep ultraviolet equipment, effectively banning these models from being shipped to China; a year later, the licensing requirements were extended to the NXT:1980i, but this model can still be approved for shipment on a case-by-case basis.

According to Catcher Predict monitoring, in the predicted market Polymarket for the event "LoL: Chinese Taipei vs. South Korea (BO5) - Asian Games Playoffs," the "Yes" option for the sub-market "Both teams kill a dragon" has experienced a drastic fluctuation in winning probability, soaring from 50% an hour ago to the current 90.5% (a fluctuation of 40.5%). Please note the impact of related breaking news.

According to the Star newspaper, police in the central region of Perak, in collaboration with the National Energy Company (TNB), launched an operation in Seri Iskandar to dismantle an illegal cryptocurrency mining site and arrested two local men.The individuals involved are suspected of illegally connecting wires to power Bitcoin mining machines. Police seized 30 Bitcoin mining machines, routers, desktop switches, and a roll of wire at the scene. The case is being investigated under Section 427 of the Penal Code and Section 37(1) of the Electricity Supply Act 1990.Police emphasized that stealing electricity for mining is not only illegal but can also cause significant losses to the power company and pose a fire risk.

According to GMGN market data, the BSC ecosystem Meme coin "Chinese Can Fly" once surpassed a market value of 9 million USD, with a daily increase of over 13 times, currently reported at 8.1 million USD.Please note that the prices of Meme coins are highly volatile and can be easily influenced by market sentiment and trending events; please be aware of trading risks.

According to Caixin, poker master and seasoned cryptocurrency investor Hu Zheweng made significant bets during the three waves of cryptocurrency frenzy involving ICOs, algorithmic stablecoins, and AI tokens, but faced consecutive failures. Hu Zheweng claimed to have invested in the blockchain project Stratis, achieving a return of "over 1000 times."According to disclosed information, Hu Zheweng invested approximately 80 million USD in algorithmic stablecoin TerraUSD (UST) and its sister token LUNA from May 2021 to May 2022, with the peak market value of his holdings exceeding 800 million USD, but the price of LUNA subsequently nearly dropped to zero.In addition, Hu Zheweng has filed a lawsuit in Chicago, USA against the globally renowned quantitative trading firm Jump Trading and its related companies and executives in the cryptocurrency business, seeking at least 500 million USD in damages. After experiencing Stox and Terra, Hu Zheweng has not left the cryptocurrency market; last January, he bet on a new project by a Chinese computer professor Zhang Yongfeng. Zhang Yongfeng entered the Computer Science Department of Tsinghua University in 2007 and is currently a tenured associate professor in the Computer Science Department at Rutgers University in the USA. He has been sued by Hu Zheweng on multiple charges including "securities fraud." It is reported that the tokens issued by the organization founded by Zhang Yongfeng, in which Hu Zheweng invested millions of dollars, have fallen over 99.6% from their peak in 2025.

According to Caixin, on-chain perpetual contract platforms represented by Hyperliquid have quietly risen overseas for some time. The platform was founded by a former Wall Street high-frequency trading engineer, without external VC funding, relying on its self-developed dedicated L1 public chain and a full on-chain order book to stand out in the DEX track.The trigger that attracted the attention of the domestic market and regulatory authorities was the launch of popular perpetual contracts involving Chinese assets, combined with offshore derivatives such as oil contracts under the previous Iranian geopolitical conflict. While pricing diverse assets, the platform also challenges global financial regulation. Against the backdrop of the stalled progress of the Clarity Act in the United States, such offshore unlicensed derivative agreements continue to develop.

In episode 166 of the BidClub podcast, chip designer Bubble boi stated that high-bandwidth flash is technically attractive but lacks decisive data center use cases. The information he provided indicated that the main customers he heard about are Chinese clients who find it difficult to obtain or produce high-end HBM.Bubble boi mentioned that HBF and high-end AI flash have a latency of about 5 microseconds, lower bandwidth than HBM, a lower cost per bit, but the total cost may be comparable. He believes the clearest customers are entities unable to obtain HBM, which aligns with the Chinese demand he heard from two to three people, as they cannot adequately manufacture accelerators or are willing to accept non-leading specification products.

U.S. Treasury Secretary Scott Bessenet told reporters after several hours of talks in New York with Chinese Vice Premier He Lifeng and other officials that the discussions were "very successful," covering topics such as artificial intelligence, trade, and investment. The talks took place on September 20 at JPMorgan Chase headquarters, occurring ahead of the summit this week between U.S. President Donald Trump and Chinese President Xi Jinping.Bessenet stated that both sides agreed to establish a dialogue on artificial intelligence, aimed at reaching a common understanding of goals and threats, and plan to meet again. Li Chenggang, China's representative for international trade negotiations at the Ministry of Commerce, said the atmosphere of the talks was good, and the working group would continue discussions on Monday.

Paraguayan authorities shut down two illegal cryptocurrency mining facilities in Upper Paraná province within a week, seizing a total of 35 mining machines. One mining site, which was discovered on September 17, illegally drew electricity through a line without an installed meter, resulting in the confiscation of 10 ASIC mining machines, with related costs and fines totaling approximately $30,000.Another operation on September 12 seized 25 mining machines. The Paraguayan House of Representatives has passed a resolution requiring the National Electricity Administration to submit a report on the electricity consumption, electricity prices, and regulatory situation of the cryptocurrency mining industry.

Sources familiar with the negotiation situation revealed that the U.S. government is pressuring Mexican officials to accept new regulations on AI hardware exports to close loopholes that allow Chinese companies and other foreign enterprises to evade tariffs. According to this proposal, the number of components in AI hardware sourced from outside North America during the production process will be limited.AI hardware includes a range of products such as chips and servers, and this year it has surpassed automobiles to quickly become Mexico's top export to the U.S. AI hardware has become Mexico's largest export product to the United States.