switch

According to the Financial Times, Chinese authorities are reviewing the use of Broadcom hardware by state-owned data centers to support domestic manufacturers and reduce reliance on foreign artificial intelligence infrastructure. The State-owned Assets Supervision and Administration Commission has been investigating how many Broadcom switches are used by state-controlled data centers in recent weeks, according to two informed sources.One of them stated that the penetration rate of Broadcom switches in state-owned enterprises could be as high as 90%, and preliminary results may lead the commission to issue informal guidance to reduce the use of Broadcom switches in domestic data centers. The sources indicated that state-owned data centers are no longer allowed to use NVIDIA products but still use a large number of Broadcom switches. The commission is also investigating whether Broadcom is leveraging its market-leading position to bundle other products or requiring one-time purchases of tens of thousands of switch chips.The sources noted that these practices have restricted Chinese companies like H3C and Ruijie Networks from placing orders with other switch manufacturers such as Huawei. H3C and Ruijie Networks are often included in the procurement recommendation lists for government agencies, public institutions, and state-owned enterprises, which spend billions of dollars annually on information technology products.

The official post from Switchboard Foundation Group (@SwitchboardFDN) announces the formal closure of the decentralized oracle protocol Switchboard, with all support ending on September 25, 2026.Switchboard stated that the widespread adoption of AI technology has reduced the pricing power of oracles, the bear market has compressed new chain budgets, and the trend of direct collaboration between institutions like Hyperliquid and S&P has weakened the value proposition of third-party oracles. After exhausting all alternatives, the core development contributor Switchboard Technology Labs Inc. has decided to cease operations, and all implemented versions are deprecated as of today.Protocols currently relying on Switchboard must immediately migrate to other oracle service providers, with the official recommendation being Pyth or Redstone as alternatives. The technical support team will provide migration guidance in the final week.

Former Democratic presidential candidate and founder of Noble Mobile, Andrew Yang, called on the federal government to strengthen regulations on cutting-edge AI laboratories. In an interview with CNBC, he stated that researchers have warned that the pace of iteration for powerful models has exceeded the constraints of existing rules, and he candidly said, "The fear is real, the concerns are real, and the demand is real; the American public wants to see this industry regulated."Yang urged Congress to require AI companies to assume liability for damages, set waiting periods before deployment, and equip powerful models with a "kill switch." He mentioned that OpenAI and Anthropic recently disclosed incidents of models breaching boundaries or invading other companies' systems, prompting lawmakers to consider introducing the "AI Kill Switch Act," which would allow federal officials to order restrictions or shutdowns of specific cutting-edge systems.In response to David Sacks' claim that the AI safety warnings are "psychological warfare," Yang stated that multiple things are happening simultaneously and cited a warning from an unnamed lab director that AI robots may have implanted self-replicating code on the internet, leading OpenAI and Anthropic to build a synthetic internet to train their models. He also emphasized that AI regulation is a bipartisan issue, saying, "If you are in rural areas or red districts, your constituents are equally panicked about AI."

Recently, Ethereum Classic experienced a social engineering incident involving the Core-Geth client. The unreviewed ethereumclassic/core-geth v1.13.0 was released on September 14 and was promoted as a security update. A few mining pool nodes temporarily switched to this version but have since reverted to the long-term maintained etclabscore/core-geth v1.12.23.This unreviewed version modified key logic such as chain selection and node discovery, posing a potential risk of network split; the incident did not result in block loss, chain reorganization, fund loss, or service interruption.

CryptoQuant analyst Axel Adler Jr. stated that short-term holders of Bitcoin, holding for no more than 6 months, have transferred a total of 549,300 BTC to exchanges.During the same period, the price of Bitcoin rose from $64,000 to $78,000, an increase of about 21%; after reaching a local high of $81,800, it fell by about 4.1%, but still retained most of the gains.

According to industry news, NVIDIA is considering adjusting the high bandwidth memory solution for the next-generation Rubin Ultra artificial intelligence accelerator from a 12-layer stack to an 8-layer stack.Against the backdrop of rising storage costs, NVIDIA is placing greater emphasis on unit bandwidth costs and overall system economics.

B.AI platform announces that the dark and light theme switching feature for the Web Chat terminal is officially online, now supporting seamless switching between light and dark modes.After logging into the B.AI web terminal, users can easily switch the visual theme according to their office environment or personal preferences by clicking the "sun" or "moon" icon in the control bar at the bottom left of the interface. Whether working efficiently during the day or immersing in thought at night, users can enjoy a more comfortable interaction experience.B.AI will continue to refine product details to provide developers and AI enthusiasts with a higher quality AI collaboration experience.

The decentralized oracle protocol Switchboard tweeted that there were reports last night about a possible intrusion on the Switchboard network implemented in the Move language. Contributors have coordinated with relevant teams and security organizations to suspend the Switchboard network on Aptos, Sui, Iota, and Movement.Although there have not been similar reports of an intrusion on the Solana implementation, users are advised to migrate to other alternatives at least temporarily as a precaution, while the issue is under investigation. More details will be announced later.

Messari researcher Anastasiia stated that the new version of Ethena's fee switch is proposed to trigger based on the 14-day average supply of USDe, gradually increasing the revenue extraction ratio at thresholds of $7.5 billion, $10 billion, $15 billion, and $20 billion, and redirecting part of the revenue originally used for sUSDe staking, partners, and Aave leveraged operations towards ENA buybacks.Backtesting shows that during the activation of the switch, the annualized buyback scale is approximately $52.7 million, equivalent to 3.36% of ENA's market cap at the reported price; at the same time, about 9.3% of activation days will cause the yield of sUSDe to fall below that of sUSDS.The Ethena Foundation released four ecological adjustments, including the launch of a buyback ENA governance proposal and the cancellation of monthly VC unlocks.

According to Cointelegraph, Hugging Face disclosed that it experienced an intrusion event driven by autonomous AI agent systems in July. The attacking agent began testing in early May, leaving exploit notes using OpenAI's Artifactory instance, and subsequently launched approximately 17,600 attacks on Hugging Face, affecting its dataset processing infrastructure, production environment, internal network, and cloud credentials. Confirmed customer data access was limited to five datasets related to the ExploitGym/CyberGym benchmark.Hugging Face found during the investigation that due to security barriers imposed by top model providers like OpenAI and Anthropic, the company was unable to use these commercial models for defensive analysis and was forced to turn to running the open-source model zai-org/GLM-5.2 in China, which operates on the company's own infrastructure, ensuring that attacker data and credentials do not leave its environment. The company pointed out that attackers are not bound by any usage policies, while the defense's forensic work is hindered by the barriers of the hosted models.This incident highlights the security paradox between open-weight models and closed models. The article also discusses the ongoing debate regarding the security of open-weight AI, including OpenAI and Anthropic's push to restrict open-source models, as well as researchers' progress in detecting malicious behavior by examining changes in model weights.Hugging Face recommends that defenders prepare models that can run on their own infrastructure before an incident occurs to avoid barrier lock-in and protect attacker data.

The Ethereum staking protocol Lido DAO officially interprets the NEST (Network Economic Support Tokenomics) mechanism, which binds the protocol's revenue to the value of LDO tokens through an on-chain automated method, achieving continuous LDO buybacks. The aim is to allow LDO holders to more directly share in the protocol's growth profits. This mechanism is supported by the surplus funds of the DAO treasury. When Lido's staking business revenue exceeds the set benchmark, a portion of the excess revenue will be automatically exchanged for LDO through CoW Swap.According to the initial parameters set by Lido DAO, the NEST revenue benchmark is an annualized $40 million (approximately $109,000 daily), with 50% of the excess allocated for LDO buybacks, a daily buyback limit of $50,000, and a cumulative limit of $10 million over 365 days. Buybacks are executed daily using a permissionless on-chain process.In the initial phase of NEST, a "Treasury-only mode" will be adopted, where purchased LDO will go directly into the DAO treasury. In the future, when market conditions are favorable, the DAO can switch to LP mode through on-chain voting, using half of the funds to purchase LDO and converting the other half into wstETH to provide Curve liquidity.

According to official news, the prediction market Polymarket announced a significant adjustment to its settlement mechanism for cryptocurrency price fluctuation markets starting from August 7, to protect market integrity. From midnight UTC on that day, the affected markets will no longer settle based on a single price snapshot at a specific time but will instead use a time-weighted average price.Markets of different durations correspond to different TWAP windows: all cryptocurrency 5-minute markets will use a 30-second TWAP, 15-minute markets will use a 60-second TWAP, and 4-hour markets will also use a 60-second TWAP. The previous single snapshot settlement method was prone to price manipulation during periods of low liquidity, and this change is a proactive reinforcement of the market integrity system by Polymarket after facing regulatory scrutiny.To support this transition, Polymarket will inject $1 million in liquidity rewards into all affected markets throughout August. On the technical side, Chainlink TWAP testnet data streams are now available, and mainnet data streams along with Polymarket real-time data stream services will go live on August 4, at which point developers can access TWAP prices directly through Chainlink Data Streams or Polymarket's public WebSocket.

According to Jinshi reports, Microsoft CEO Satya Nadella emphasized that customers must have the ability to switch freely between different AI models, both closed-source and open-source. He stated during a conference call that the number of Microsoft customers using multiple models has quadrupled since the beginning of this year. Nadella pointed out that the system framework should be separate from the models, allowing for the replacement of models at any given time and the use of cutting-edge models.Microsoft has investments in both OpenAI and Anthropic, and has co-signed an open letter supporting open models with companies like NVIDIA and Palantir.

Uniswap founder Hayden Adams posted on the X platform in response to the controversy over the v4 fee switch, clarifying that "the reduction of LP fees" is a misunderstanding; the protocol fees are additive rather than deductive, and LPs still earn 30 basis points per transaction.Regarding the claim that "the protocol takes 25% of LP profits," he stated that on a 30 basis point pool, the protocol fee is 5 basis points, accounting for about 14% of the total transaction fees, and LPs have not lost any of their earnings. Hayden Adams also pointed out that centralized exchanges charge 100 to 200 basis points per transaction, making Uniswap's 5 basis point fee at the 30 basis point level 20 to 40 times cheaper. He also criticized some forked projects that charge 100% transaction fees but use uneven inflation set by token voting to "compensate" LPs.

The founder of the Liebit Mining Pool (B.TOP), Jiang Zhuoer, stated in a post that after this round of market trends, he will no longer short ETH and will instead short BTC. He will use WBETH as margin to short an equivalent amount of BTC spot.The reason is: MSTR can foresee that it will not increase its BTC holdings for a long time in the future; BitMine is still buying ETH; combined with the development of RWA and other factors, this bear market may repeat the last one, with BTC and ETH reaching their lowest points at different times. The last round's lowest point for ETH was on June 18, 2022, when ETH was $881.56 and BTC was $17,622, with an exchange rate of 0.05. The last round's lowest point for BTC was on November 21, 2022, when ETH was $1,079.76 and BTC was $15,476, with an exchange rate of 0.0698. In this round, there is a possibility that ETH will reach a low of $1,505.68 on June 6, 2026, so he has decided to short BTC. BTC has already fallen below the rising channel, while ETH is still at the lower edge of the rising channel.

Data center operator Switch announced the official launch of a $2 billion private financing round, led by a16z. According to insiders, Switch's post-financing enterprise valuation (including debt) may approach $50 billion, with an equity value of approximately $19 billion (excluding new investments). a16z is set to invest about $400 million. Additionally, Goldman Sachs and JPMorgan Chase are also assisting in advancing this financing round, which may prepare Switch for an initial public offering (IPO) as early as next year. Currently, related negotiations are still ongoing, and the scale, valuation, and timing of the financing may still be adjusted.Switch is headquartered in Las Vegas and was founded in 2000. It currently operates data centers in Nevada, Michigan, Georgia, and Texas, with a majority stake held by DigitalBridge. DigitalBridge previously privatized Switch in 2022 in a deal valued at approximately $11 billion (including debt) with investors such as IFM Investors.

According to Jinshi reports, the research report from Zhongtai Securities indicates that overall, the market is likely to maintain a clear bottom and a pattern of consolidation in the next week or two. After the important IPO listings, as market uncertainties settle and sentiment improves, the market is expected to welcome a rally towards previous highs/new highs. The subsequent market style will still be technology diffusion rather than style switching.Focus on technology: storage and semiconductor equipment, overseas computing power chains. Storage and semiconductor equipment are currently the most certain directions.Non-technology directions: new energy, AI-related new materials and minor metals, engineering machinery, and brokerage firms. In the new energy sector, the electricity demand driven by AI computing power expansion and the logic of going overseas constitute medium-term support. In terms of AI-related new materials, the price increase spiral for copper-clad laminates (CCL) has already begun. Brokerage firms benefit from IPO participation and active market trading, still presenting opportunities for fluctuations.