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Martin Carrica posted on X that after four years of working on regulated stablecoin-related projects with the stablecoin issuer Mountain Protocol and the licensed crypto institution Anchorage, he will join Coinbase as the head of stablecoins, responsible for expanding the distribution and influence of stablecoins.Martin Carrica stated: Stablecoins are the most transformative financial product, and although they have achieved significant success, their current scale is still relatively small. He will focus on promoting the scalable development of this technology.

User choblin29 posted that Boris Power, the head of application research at OpenAI, stated that the company has 80% to 90% of its research focused on GPT-7, GPT-8, and subsequent models. Power believes that improvements within the same generation of models are viewed internally as very short-term investments that can be used to accelerate current learning, but not as a long-term strategy.According to the post compiled, the relevant path is to first build large cutting-edge models, then use them as teacher models to distill into smaller, cheaper models. Power mentioned that GPT-6 Astra could be distilled into models like Luna and believes that a better way to build small specialized models might be to first train a more capable general model. He also stated that the current biggest issue is not model performance; most users still do not understand the work that existing AI is already capable of completing.

On September 24, the trending topic "Doubao employees lament that Doubao has become a marginal product" topped Weibo's hot search. Previously, media reported that the Doubao General Session team had undergone personnel reductions. Following the dissemination of related content, statements such as "Doubao layoffs" and "half of the dialogue team cut" appeared online, with some claiming that internal employees lamented that Doubao was being marginalized.In response to the above statements, Doubao's public relations head Liu Xing posted a response stating: Some media reported that the Doubao Session team underwent organizational adjustments, and some self-media interpreted it as Doubao layoffs and cutting half of the Doubao dialogue team, which is inaccurate information; in fact, it is merely an organizational adjustment of responsibilities.According to Liu Xing, part of the functions of the Doubao General Session team has been split into the Doubao trading and Doubao work teams, with relevant personnel being transferred accordingly. Many employees are still engaged in dialogue experience-related work, such as optimizing the trading dialogue experience on the trading side. The team has fewer than 50 people, and the adjustment of responsibilities involves 11 individuals, of which 3 have left. He emphasized that statements in some self-media reports, such as "Doubao layoffs affecting 200 million users" and "half of the dialogue team cut," are inaccurate.

The President of the New York Federal Reserve, John Williams, stated that the process of transitioning U.S. Treasury securities and their repurchase agreements to centralized clearing has advanced ahead of schedule.The industry has expanded its clearing infrastructure, with trading activities shifting from non-cleared markets to cleared markets. The Federal Reserve's framework for maintaining ample bank reserves has proven effective and is committed to maintaining its resilience.

Alibaba has appointed Liu Dayiheng as the head of the Qwen large language model. The official website of the Yunqi Conference has also updated his title to "Head of the Qwen LLM Project."Liu Dayiheng joined Alibaba in 2021 and has since been a core member of the Qwen research and development team. In March of this year, Qwen's technical head Lin Junyang left to start his own business; in June, Zhou Jingren, who was responsible for AI model development, stepped down from related management positions and transitioned to Alibaba's Chief Scientist. After a series of adjustments within six months, the head of the Qwen large language model line is now officially confirmed.Liu Dayiheng has also been placed in a core position at this year's Yunqi Conference. On the conference's official website, he ranks after Alibaba Chairman Cai Chongxin and CEO Wu Yongming among the speakers, and he will deliver a speech titled "Qwen: Moving Towards Real-World Intelligent Agents" at the main forum.

Mustafa Suleyman, head of AI at Microsoft, stated in a CNN program that concerns about China's progress in the AI field should not be used as a reason to oppose setting safeguards for this rapidly developing technology. He said, "I believe we should not use China as a shield to avoid advancing our own AI safety work."This statement contrasts with President Trump's call for essentially unrestricted development of AI. The Microsoft AI team released a declaration last Tuesday, aiming to ensure that humanity always maintains control over the AI systems developed by the company. Suleyman pointed out that regulation should not be seen as a bad thing, but rather as a means to establish common norms and standards to enhance safety; regulation does not necessarily slow us down. The report was published on September 21, Beijing time, according to Bloomberg.

According to Bitcoin Magazine, Blue Macellari, the head of digital assets at asset management giant T. Rowe Price, stated in an interview with Bitcoin Magazine that Bitcoin has now become the central topic of discussion regarding currency devaluation. She pointed out that bond vigilantes are making a comeback, U.S. Treasury financing is shifting from foreign buyers to domestic buyers, and the debt situations in Japan and Italy are not comparable to the U.S. buyer base.Macellari has 20 years of experience in emerging market sovereign debt and distressed debt investment, and later was responsible for establishing T. Rowe Price's digital asset business. In the interview, she reviewed the evolution of internal discussions on digital assets within the institution, the considerations for launching actively managed multi-token ETFs, and discussed the trends of asset management tokenization and automation, as well as the liquidity fragmentation risks brought by 24/7 trading.Additionally, Macellari assessed whether the demand for stablecoins under the GENIUS Act represents a substantive change or is merely wishful thinking, and she believes that devaluation trading has indeed driven institutional allocation to Bitcoin. She also stated that volatility can serve as a portfolio tool, and there are significant generational differences in Bitcoin allocation.

According to The Block, Grayscale's research director Zach Pandl stated that the approximately $58,000 low reached around June 30 remains his assessment of the bottom of the current bear market phase, and Grayscale is currently advising clients to allocate Bitcoin.Pandl mentioned in an interview with The Block during the Avalanche summit in New York that they have maintained the view that $58,000 is the bottom of this bear market phase for the past few months. This assessment echoes the comments made by Coinbase CEO Brian Armstrong, who stated on September 10 that Bitcoin has bottomed out in the current cycle and expects a sustained upward trend for the next two years.Pandl stated that Grayscale uses a three-part framework to assess whether clients should allocate Bitcoin, including long-term structural trends, market cycle phases, and macro context. He believes that all three conditions are currently met, thus giving clients the "green light" to allocate Bitcoin. As of Thursday morning, Bitcoin was above $76,000, up 0.8% in 24 hours, but still down about 39% from its historical high of approximately $126,000.Pandl also compared Bitcoin with Zcash, noting that Grayscale has offered investment products for Zcash for about nine years. He believes that Zcash occupies an "underutilized and unexplored design space," rather than directly competing with Bitcoin, and pointed out that as artificial intelligence becomes more powerful, privacy issues are receiving more attention, with Zcash providing investors a way to express their views on personal and financial privacy.

Huawei's rotating chairman Wang Tao stated at the Huawei Connect Conference 2026 that the Ascend 960 chip is ready ahead of schedule, achieving a doubling of performance. Among them, the Ascend 960DT will be released in Q1 2027, three quarters earlier than originally planned; the Ascend 960PR will be released in Q3 2027, one quarter earlier than originally planned.Wang Tao mentioned that they will adhere to an annual evolution pace, with the Ascend 970 planned for release in 2028 and the Ascend 980 planned for release in 2029.

Rome-based Physical AI cybersecurity company Exein announced the completion of a new funding round of 234 million euros (approximately 270 million dollars), with a valuation of 1.4 billion euros (approximately 1.7 billion dollars), making it the highest-valued cybersecurity startup in Europe.This funding round was led by Headline, with participation from Sofina, Goldman Sachs, the European Investment Bank Group, KfW Capital, and T.Capital, while J.P. Morgan simultaneously expanded its revolving credit facility.

Renowned trader Killa posted about the potential impact of the upcoming FOMC meeting on the cryptocurrency market this week. He stated that many people are very focused on macroeconomics, policies, and economic data to predict the next moves of assets, but Killa believes that "most macro narratives are just distractions." Killa noted that BTC often starts moving before the reasons become clear. By the time the macro environment shifts and the herd realizes it, Bitcoin has usually already completed its move. Correlation is often lagging. The market does not move because most people understand it. Most people understand it because the market has already moved.As a quantitative trader focused on BTC, Killa predicted the peak of this bull market in May 2025 and has over 200,000 followers on platform X. In mid-April, he shorted Bitcoin at $74,688 and switched to long during the market-wide decline on June 5.

Eurozone government bond yields remain high ahead of the European Central Bank's policy decision, with analysts expecting the central bank to raise interest rates by 25 basis points. The yield on Germany's 10-year government bonds rose to 3.44%, having previously reached 3.4514%, the highest since 2011. The market expects the European Central Bank's deposit rate to be 2.74% by December, up from the current 2.25%.

The second episode of the Gate Stocks series is now online. Lucas Sum, the head of stock market development at Gate, shared insights on why cryptocurrency exchanges are starting to venture into the stock market and analyzed the differences between Gate and traditional brokers in terms of trading experience and asset allocation methods. Lucas Sum stated that more and more digital asset users are beginning to pay attention to stock opportunities from global companies such as NVIDIA, Apple, and Tencent. Gate integrates stocks and crypto assets into the same account, allowing users to manage different types of investment assets using the same USDT balance.In terms of trading experience, Gate Stocks supports fund transfers using USDT, enabling users to participate in stock trading without waiting for traditional bank fund settlements. In addition to regular trading hours for U.S. stocks (9:30 AM - 4:00 PM ET), it also supports pre-market and after-hours trading, with fractional shares supported down to 0.01 shares. Besides stocks and ETFs, Gate also covers investment opportunities such as stock perpetual contracts, tokenized assets, Pre-IPOs, and direct IPOs. Lucas Sum emphasized that Gate is not trying to replace traditional brokers but rather to expand the possibilities of investment platforms, bringing the global stock market directly to digital asset users.

According to Sifted, the head of the robotics division of the French AI unicorn Mistral is seeking to raise 200 million euros for its new startup, planning to develop robotic AI models based on more comprehensive data training to surpass competitors in data quality.Mistral officially established its robotics division last year.

The head of government affairs at Paradigm stated that the external view that the Clarity Act is almost hopeless to pass is not credible. The related pessimistic rhetoric mostly comes from anonymous staff members who did not participate in the core negotiations (intending to guide public opinion), or from legislators using the media to voice their demands, pressuring the White House and Senate leadership to meet their own requests.Major banks plan to invest heavily in lobbying and advertising next week; if the bill is doomed to fail, the banks would not invest such resources. The time window is indeed tight: the Senate reconvenes on Monday, and the House will recess on Friday in five days. However, the bill is far from dead. Those who assert that the bill has no chance are either seeking attention or trying to create a predetermined narrative of "bill failure."

Cryptocurrency exchange Bybit announced the appointment of Sean Ballard as the Head of Derivatives and Institutional Business. Ballard will play a key role in strengthening trading infrastructure, risk frameworks, and institutional capabilities, with responsibilities covering trading risk and exchange technology.Ballard has over 25 years of experience in global financial markets, encompassing derivatives, high-frequency trading, trading risk, market structure, and exchange technology. Before joining Bybit, he worked at Jump Trading, where he led the company's high-frequency futures trading operations in the United States, Europe, the Middle East, Africa, and Latin America, managing portfolios and collaborating with global exchanges and regulators on market structure, trading performance, and infrastructure. During his time at Jump Trading, he also served as a senior trader on the Jump Crypto team, managing centralized exchange trading and driving strategic partnerships related to ecosystem growth.At Bybit, Ballard will enhance the institutional trading experience through market infrastructure, risk management, and product development. Bybit Institutional has introduced professional services such as bank tripartite arrangements over the past year, allowing institutions to manage counterparty risk through regulated custody while retaining full trading authority; the market maker gateway has reduced latency for high-frequency and quantitative clients from 4 milliseconds to 1.5 milliseconds. Starting July 2026, Finloop's AAA-rated USD money market fund FUIDL will be available as trading collateral on Bybit.

According to Nikkei News, the rise in Bitcoin prices lacks momentum, as it was bought due to "dollar depreciation trading," but this is only a fleeting moment. Now, the expectation of interest rate hikes in the United States has become a heavy burden for Bitcoin. The market generally expects Bitcoin prices to peak in the fall.A factor to watch is the U.S. midterm elections in November. In years when midterm elections were held, the market tends to decline from September to the end of the year, with a drop of 45% in 2018 and an 18% decline in 2022.

The venture capital firm a16z's crypto division, a16z crypto, is hiring a Head of Social Media, with a salary range of $199,000 to $232,000.This position is aimed at candidates who are extremely active online, understand crypto and internet culture, can create and deliver content, and can showcase intelligence in a non-corporate or non-awkward manner. Responsibilities cover podcasts, investments, events, editing, memes, short video editing, and social media strategy. This is a remote position, requiring some travel or attendance at offline events.

The crypto market has always been rife with rumors. Today, an HTX spokesperson responded to recent rumors regarding Sun Yuchen and the platform, emphasizing that this is part of the "expected game" and that the platform's operations are normal. In the Web3 industry, there are very few trading platforms that can survive and cross a 13-year cycle; time and data are often the most objective measures to test market FUD.

Tibo, the product head of OpenAI Codex, stated that the number of active users has reached 25 million. To celebrate this milestone, the usage limits for all paid subscriptions of ChatGPT Work and Codex have now been reset.