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Flash

Bitget launches a $300 million "Archimedes Plan" to provide special funding support for quantitative and asset management institutions

Bitget announced the launch of the "Project Archimedes," establishing a special fund with a total scale of $300 million to provide capital support for quantitative trading firms, asset management institutions, and market makers. The plan includes two sub-projects: a $100 million "Capital Support Program," which focuses on supporting emerging and growth-oriented quantitative institutions that adopt market-neutral strategies; and a $200 million "Interest-Free Lending Program," aimed at institutions with mature strategies and a certain trading scale, which can obtain interest-free funds by meeting corresponding trading volume or position standards to reduce financing costs and expand strategy scale.Bitget CEO Gracy Chen stated that as competition in institutional trading intensifies, capital, execution efficiency, and risk control are becoming important factors in whether strategies can achieve scalability. The Archimedes plan aims to help capable teams expand their strategy scale through capital support, with expectations to support over 50 projects in the next six months. Meanwhile, relying on Bitget's Unified Trading Account (UTA), institutions can use rToken spot positions as collateral for derivatives, allowing them to maintain tokenized stock exposure and contract strategies simultaneously without cross-account transfers, further enhancing capital efficiency.The Archimedes plan will adopt a long-term cooperation framework, implementing rolling access and phased deployment, and will regularly disclose progress such as the number of participating institutions, capital deployment scale, and strategy distribution.

Insiders: DeepMind founder Hassabis is considering leaving Google, as Google's management is concerned about a sharp drop in stock prices and has postponed his departure

Citrini analyst Jukan shared content on platform X stating that industry insiders reported that Google DeepMind co-founder Demis Hassabis had previously planned to leave simultaneously with another co-founder, David Silver. However, Google management was concerned that this news could trigger a significant drop in stock prices, so they hoped to delay his departure. Reports indicate that after Google announced related adjustments, the company's stock did indeed decline. Ultimately, Hassabis was persuaded to take on the role of chairman of DeepMind to help facilitate a smooth transition and create space for a more appropriate departure from Google in the future.It is reported that as David Silver shifts to founding Ineffable Intelligence and John Jumper joins Anthropic, the core AI research and development force at DeepMind is undergoing changes. Some insiders believe that the center of gravity for AI model development at Google has now shifted more towards the Bay Area, leading to a decline in the importance of DeepMind. Internally, Google is focusing on the large language model Gemini to catch up with OpenAI and Anthropic. Hassabis's adjustment reflects a long-standing strategic contradiction within Google: researchers are more focused on long-term scientific breakthroughs, while the commercial team is more concerned with AI products that can be quickly commercialized to drive revenue and stock price growth. Market predictions suggest that Hassabis may leave Google within a year and could potentially start a new venture.

Western Digital CPO: Flash memory handles the present, HDD manages the entire lifecycle

Ahmed Shihab, Chief Product Officer of Western Digital, stated that the key to AI storage competition is not simply pursuing the fastest medium, but whether it can continuously scale capacity at an affordable cost. He believes that many architectures run well in the early stages, but when the data scale grows from several PB to hundreds of PB or even EB levels, issues may arise due to uncontrolled costs.Flash storage is suitable for high-performance, low-latency scenarios such as model weights, GPU overflow, KV caches, and session contexts; HDDs are more suitable for large-scale, long-term storage, and cost-sensitive data such as training corpora, logs, checkpoints, compliance records, synthetic data, and inference outputs. He summarized: "Flash handles the present, HDD handles the entire lifecycle."At the scale of AI, storage costs themselves will become an architectural issue. Long-term storage of large volumes of data on high-performance media will crowd out budgets for computing, networking, power, and personnel. For many bulk storage workloads, the issue is not whether flash can store, but whether customers can afford the total cost of using flash in the long term.In the future, AI storage will not be dominated by a single technology, but should be designed in layers based on performance, cost, power consumption, density, reliability, and data lifecycle. He emphasized that this is not a competition between flash and HDD, but rather a need to match the appropriate medium for different workloads from the very beginning; otherwise, the architecture may impact business sustainability as it scales.

BlackRock launches two tokenized currency funds to expand its blockchain cash management strategy

Asset management giant BlackRock has announced the launch of two tokenized money market products, further expanding its blockchain-based cash management business, including the BlackRock Select Treasury Based Liquidity Fund (BSTBL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV).BlackRock stated that the new products will combine the liquidity and stability of traditional money market funds with blockchain infrastructure, providing institutional investors with more flexible cash management tools between traditional finance and digital asset markets.Among them: BSTBL will launch tokenized shares based on Ethereum on the existing money market fund. These on-chain shares can be transferred between approved wallets in compliance with regulatory requirements. BNY Mellon will serve as the transfer agent and tokenization service provider for BSTBL. BRSRV is a new type of tokenized money fund designed for digitally native institutional investors, supporting daily dividend reinvestment and multi-blockchain access, applicable to various digital asset scenarios including stablecoin reserve management. Securitize will act as the transfer agent and tokenization service provider for this fund.Both products invest in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by U.S. Treasury securities, aiming to generate returns while maintaining principal stability and liquidity. As of now, the cash strategy assets managed by BlackRock's cash management group are close to $1.1 trillion, covering a variety of investors including corporations, banks, foundations, insurance companies, and public institutions. The launch of tokenized money funds is seen as an important step for traditional asset management institutions to further engage in RWA (real-world asset tokenization) and on-chain financial infrastructure.
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