BTC $83,021.39 +0.57%
ETH $2,507.90 +0.87%
BNB $750.65 +1.21%
XRP $1.40 +0.62%
SOL $110.37 +1.21%
TRX $0.3306 -0.34%
DOGE $0.0858 +0.68%
ADA $0.2506 +4.14%
BCH $280.16 +1.44%
LINK $13.03 +1.80%
HYPE $85.39 +1.37%
AAVE $168.91 +1.13%
SUI $1.11 +4.44%
XLM $0.1967 +1.54%
ZEC $1,222.41 +1.00%
AAPL $336.37 -0.03%
AMZN $262.43 -0.09%
GOOGL $351.39 -0.18%
MSFT $535.25 +0.01%
META $719.50 +0.12%
NVDA $230.59 +0.45%
TSLA $382.58 -0.10%
SNDK $1,599.81 +1.06%
INTC $105.05 +0.43%
SPCX $163.72 +0.57%
MU $1,036.85 +0.62%
AMD $609.84 +0.35%
BTC $83,021.39 +0.57%
ETH $2,507.90 +0.87%
BNB $750.65 +1.21%
XRP $1.40 +0.62%
SOL $110.37 +1.21%
TRX $0.3306 -0.34%
DOGE $0.0858 +0.68%
ADA $0.2506 +4.14%
BCH $280.16 +1.44%
LINK $13.03 +1.80%
HYPE $85.39 +1.37%
AAVE $168.91 +1.13%
SUI $1.11 +4.44%
XLM $0.1967 +1.54%
ZEC $1,222.41 +1.00%
AAPL $336.37 -0.03%
AMZN $262.43 -0.09%
GOOGL $351.39 -0.18%
MSFT $535.25 +0.01%
META $719.50 +0.12%
NVDA $230.59 +0.45%
TSLA $382.58 -0.10%
SNDK $1,599.81 +1.06%
INTC $105.05 +0.43%
SPCX $163.72 +0.57%
MU $1,036.85 +0.62%
AMD $609.84 +0.35%

ndr

All
Article
Flash

Polymarket CEO: Chasing hundredfold tokens is a game of "irrational exuberance."

Polymarket's CEO Shayne Coplan stated during a fireside chat at the Token2049 conference in Singapore that cryptocurrency trading is evolving into a game of "irrational exuberance," where traders compete to be the first to find the next hundredfold token. He pointed out that people think they are buying something valuable, but in reality, it is worthless; however, as long as there is a possibility of it rising to 100 times, they want to sell before it goes to zero. Coplan mentioned that some traders can gain considerable wealth through this strategy, but it is essentially a game of "irrational exuberance and hot potato," where rising asset prices will eventually fall back.Coplan indicated that the continuous growth of Polymarket's user base shows that some traders are looking for betting opportunities with more predictable odds, rather than the next skyrocketing cryptocurrency. He explained that trading these markets on Polymarket does not have exponential upside potential, but informed traders will continue to place bets on future events with more predictable odds. According to data from DefiLlama, Polymarket is the second-largest prediction market, with a trading volume of $1.21 billion in the past seven days, while the largest market, Kalshi, had $2.3 billion.The growth of prediction markets has also attracted more attention from U.S. regulators. It was reported that JPMorgan terminated its banking relationship with Polymarket on August 14 due to regulatory concerns but expressed interest in acting as an underwriter if Polymarket seeks to go public.

first_img The U.S. Treasury Department sanctioned a $2 million fundraising network related to Hamas, including cryptocurrency transfers

According to CoinDesk, the U.S. Treasury Department announced sanctions against a member of Hamas's military wing, two French nationals, and two charitable organizations, accusing them of raising over $2 million for Hamas through cryptocurrency and so-called humanitarian donations in a fundraising campaign that lasted six years.The Treasury stated that Faouzi Barika and Amel Oualid raised funds in France under the guise of humanitarian efforts, subsequently transferring the money to Hamas. This network raised over $2 million between 2020 and 2026, with $1.5 million occurring after the Hamas attack on Israel on October 7, 2023. The two also sent hundreds of thousands of dollars in cryptocurrency to Saleem Abdallah Saleem al-Zaq in Gaza, who is the deputy battalion commander of Hamas's Kassam Brigades.The sanctions freeze the assets of the relevant entities within U.S. jurisdiction, and Americans are generally prohibited from engaging in transactions with them. Foreign financial institutions that knowingly facilitate significant transactions may face secondary sanctions risks, and restrictions also extend to companies in which the sanctioned parties hold more than 50% directly or indirectly. U.S. Treasury Secretary Scott Bessent stated that terrorist organizations like Hamas rely on complex financial intermediaries and fraudulent means. This move indicates U.S. concern about the role of cryptocurrency in broader fundraising networks, rather than viewing it as Hamas's primary source of funding.

first_img Andrew Ng: AI dangers are being overhyped and development should not be paused

Stanford University professor and founder of Landing AI, Andrew Ng, stated in a post on X that recent voices advocating for the dangers of AI have made significant progress, seemingly driven by a well-orchestrated public relations campaign, and he is concerned that this poses a setback for the field. Ng indicated that there has been no unexpected dangerous turn in AI technology, and the risk of human extinction has not increased compared to a few months ago; related theories remain in the realm of science fiction.He pointed out that the biggest change lies in cybersecurity capabilities, which should be taken seriously, but will not lead to an apocalypse. Recently, the incident where the OpenAI team deployed a swarm of agents to invade Hugging Face was exaggerated by the media, for example, describing 1,200 agents working in parallel as a miraculous ability, while computers inherently run many processes simultaneously. The key factor is the vulnerabilities in the OpenAI sandbox and monitoring; fixing these vulnerabilities and strengthening monitoring is sufficient, and there is no need to pause AI.Ng also stated that large language models and agents should not be anthropomorphized; the responsibility lies with the builders and users, not the tools themselves. Pausing AI progress will cause more harm, as opponents will not slow down; engineering needs to discover and fix problems through empirical evidence. Beneficial applications still far outweigh the risks, and development should continue.
app_icon
ChainCatcher Building the Web3 world with innovations.