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According to Gate market data, U.S. stocks closed higher on Wednesday, with the Dow Jones Industrial Average initially rising by 2.85%, the S&P 500 index up by 2.5%, and the Nasdaq up by 2.8%. Intel (INTC.O) rose by 11%, SanDisk (SNDK.O) increased by nearly 10%, Nvidia (NVDA.O) rose by 2%, and Tesla (TSLA.O) fell by 1%. The Nasdaq China Golden Dragon Index rose by 3%, and Alibaba (BABA.N) increased by 4.6%.

According to the official website of the Cardano Foundation, Cardano and the venture capital firm Draper Dragon announced the launch of the Orion Fund (Draper Dragon Ecosystem Fund), with a target size of $80 million, aimed at investing in Cardano native and integrated projects, focusing on Real-World Assets (RWA) and institutional-grade DeFi, to enhance Cardano's TVL and on-chain activity.The fund is managed by Draper Dragon, with the Cardano Foundation providing ecological and technical support as the constitutional manager, and part of the profits will be funneled back to the Cardano treasury through the non-ownership entity Arouet Holdings. Draper University will act as an acceleration partner to provide startup acceleration and talent development. The fund will prioritize projects that utilize the UTXO model to bridge Bitcoin liquidity and Cardano functionality, and will enhance transparency and community oversight through a public KPI dashboard and quarterly ecological roundtables.

According to Arkham monitoring, Dragonfly transferred $2.12 million worth of MNT to Bybit. This is the first time in two months that funds have been transferred out from known cryptocurrency wallets, and it is the largest holding aside from BGB. Dragonfly currently holds only $107.29 million worth of BGB and $1.92 million worth of other cryptocurrencies.

According to MLM monitoring, two days ago, Paragon (PARA) staked 500,000 HYPE (approximately 18.5 million USD) and launched the HIP-3 decentralized trading platform Para on the mainnet 8 hours ago, and has obtained trading codes TOTAL2, OTHERS, and BTCD.

The blockchain lottery platform Megapot announced the completion of a $5 million financing round, led by Dragonfly, with participation from Coinbase Ventures, Bankless Ventures, and angel investors.The project operates on the Base network and uses stablecoins to achieve global fund settlement. Megapot plans to use this round of financing to further expand into more national markets and develop a mobile on-chain lottery platform for global users.

According to a report by Bloomberg citing a senior U.S. defense official, Google, a subsidiary of Alphabet Inc., is introducing AI agents to the Pentagon's workforce to automate routine tasks.Google's Gemini AI agents can independently complete tasks on behalf of users, who only need to set specific tasks for them. Emil Michael, the Deputy Under Secretary of Defense for Research and Engineering, stated that these AI agents will initially operate on non-classified networks.Jim Kelly, Google's Vice President, stated in a blog post on Tuesday that this new feature will allow both civilian and military personnel at the Department of Defense to build AI agents using natural language. Google has faced internal criticism in the past for its collaboration with the Department of Defense.In 2018, thousands of employees protested the company's involvement in Project Maven, a Pentagon initiative to use AI to analyze video data from overseas drone warfare. The backlash ultimately led to Google not renewing the contract for the project.

According to Reuters, Anthropic filed a lawsuit on Monday attempting to prevent the Pentagon from placing it on a national security blacklist, escalating the high-stakes confrontation between the AI lab and the U.S. military over restrictions on the use of its technology.The Pentagon officially designated Anthropic as a supply chain risk last Thursday, restricting a technology that, according to insiders, is being used for military operations in Iran. Anthropic claims in the lawsuit that this designation is illegal and infringes on its rights to free speech and due process. The documents submitted to the federal court in California request that the judge overturn the designation and prevent federal agencies from enforcing it.Anthropic stated, "These actions are unprecedented and illegal. The Constitution does not allow the government to wield its immense power to punish a company for its protected speech."Defense Secretary Pete Hegseth listed Anthropic as a national security supply chain risk last week after the company refused to remove restrictions on its AI for use in autonomous weapons or domestic surveillance. This designation poses a significant threat to Anthropic's government business, and the outcome could affect how other AI companies negotiate restrictions on the military use of their technology.However, Anthropic CEO Dario Amodei clarified on Thursday that the designation has a "limited scope," and the company can still use its tools in projects unrelated to the Pentagon.

The "Pizza Index," humorously referred to as the "barometer" for U.S. military actions, has once again shown abnormal fluctuations. The latest data from the monitoring account Pentagon Pizza Watch indicates that the order volume at the Domino's Pizza located about 1.4 miles from the Pentagon surged to 227% of normal levels on Monday evening, raising the alert level to "DOUGHCON 4."Comparing with surrounding stores, some pizza shops reported being "exceptionally busy," while others remained "quiet" or closed, displaying a structural increase in volume. The relevant monitoring model suggests that the sudden spike in orders in this area is typically associated with increased overtime work within the Pentagon.Historically, the "Pentagon Pizza Index" has shown unusual movements before several significant international military actions. Abnormal changes in this index were observed prior to the U.S. military action against Venezuela in January this year, as well as during the escalation of tensions involving Iran.Market analysis points out that the logic behind this index is based on the assumption that when the Pentagon's high-level operations center is dealing with sudden international crises or military deployments, staff work longer hours, leading to a significant increase in nighttime delivery orders. Therefore, this data is viewed by some observers as an alternative forward-looking signal of geopolitical risk. Currently, there has been no official statement from the U.S. regarding related military movements. The market is closely monitoring the evolution of the situation in the Middle East and potential risks of military escalation.

Dragonfly Capital founder Feng Bo posted on X: "I rarely speak on X, but this time I want to clarify some facts. When I initially founded Dragonfly, it was a fund of funds. Through this business, I met many very talented venture capitalists, among whom Haseeb Qureshi is undoubtedly the brightest star, which is why I invited him to join me in co-founding our venture capital business.I have been a VC for many years, and in my 30-year venture capital career, Haseeb has built one of the best partner teams I have ever experienced, and he is the backbone of the team. Being able to co-found our venture capital business with Haseeb has been an extremely valuable journey. I also look forward to many more years of working together in the future."According to previous news from ChainCatcher, Dragonfly partners and former co-founders are publicly disputing, with both sides holding differing views on early history and investment leadership.

Dragonfly managing partner Haseeb Qureshi recently engaged in a public debate on social media with former co-founder Alexander Pack (now co-founder of Hack VC).Haseeb posted a reflection on his experience building the venture capital firm, stating that Dragonfly's early brand and system were not yet established, and that development and scaling only began after his arrival. In response, Alexander Pack countered that Dragonfly had already been co-founded by him and Feng Bo for over a year before Haseeb joined, and had committed to leading investments in projects such as Bybit, Amber Group, and Crusoe, with the relevant fund announcements made prior to Haseeb's employment.Haseeb then responded, claiming that some of the other party's statements were inconsistent with the facts, and clarified the specific roles and decision-making processes regarding project investments, leading to an ongoing debate between the two about the company's founding phase and investment contributions.

According to Axios, Musk's AI company xAI has reached an agreement with the Pentagon to use the Grok system in classified systems. This is the first AI model, besides Anthropic Claude, to be granted access to the military's most sensitive intelligence and weapons development workflows.

Prepayment and digital asset practitioner Aaron announced that his company Rhythmic has completed a $4 million seed round financing, led by Dragonfly, with participation from Mirana, The Fintech Fund, and others.Rhythmic is building a financial infrastructure platform for consumer internet companies, embedding accounts, stored value, cards, and reward systems in a "native" form within products, with stablecoins facilitating fund flows and settlements at the core. The user interface only reflects "holding balances, earning rewards, and spending freely," without the need to directly interact with wallets or the concept of "using stablecoins." This round of financing will be used to enhance the core platform, connect with the first batch of partners, and expand the engineering and compliance teams.

According to Fortune magazine, amid the backdrop of "mass extinction" facing blockchain venture capital firms, crypto VC Dragonfly has successfully completed the fundraising for its fourth fund, totaling $650 million.Dragonfly stated that the current blockchain venture capital industry is undergoing a "mass clearing," but institutions remain optimistic about the trend of crypto financialization, focusing on areas such as stablecoins, on-chain financial infrastructure, and tokenization of real assets.

OKX Star forwarded a screenshot of Zhao Changpeng's tweet on platform X and stated that he does not like debates because you can never wake up a person pretending to be asleep, but clarifying the facts is crucial:Bitcoin began to decline about 30 minutes before decoupling from the dollar. This confirms the previous point: the initial move caused a market shock. Without the dollar index leverage cycle, the market would likely have stabilized at that time. The chain sell-off was not inevitable; as previously mentioned, they were amplified by structural leverage.Dragonfly has never invested in OKX, whether through small or large investments.There will be no more time spent discussing topics related to the "1011 flash crash"; the facts are clear, and there is no desire for lengthy debates.

Dragonfly managing partner Haseeb Qureshi recently published a post regarding the viewpoint that "the market crash on 10/11 was triggered by Binance and Ethena." He stated that this narrative is difficult to establish in terms of timeline, market dissemination path, and evidence. He pointed out that the price of Bitcoin had already bottomed out about 30 minutes before the anomaly in USDe appeared on Binance, indicating that the causal relationship is clearly inverted. Additionally, the deviation in USDe price only occurred on Binance and did not spread to other trading platforms, which cannot explain the large-scale liquidation across the entire market and is fundamentally different from events like Terra that caused global balance sheet shocks.Haseeb believes that a more reasonable explanation is the combination of multiple factors: Trump's tariff comments disturbed the market on Friday evening, the Binance API anomaly prevented market makers from hedging across platforms, liquidation and the ADL mechanism amplified volatility, and the lack of traditional financial-style circuit breakers and self-stabilizing mechanisms in the crypto market ultimately caused the market to evolve along an unfavorable path. He emphasized that there is no simple and conspiratorial "single culprit" for 10/11; although the market suffered a heavy blow, it has not been permanently damaged in the long run and only needs time to restore liquidity and confidence.