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hot_img In July, quantitative private equity faced widespread drawdowns, with multiple products from Huansquare dropping over 20% in a single month. Institutions assess that AI has entered the "second half."

According to the Daily Economic News, the July quantitative private equity industry experienced a systemic drawdown, with several institutional products seeing a monthly net value decline of over 20%, turning year-to-date returns from positive to negative. Specifically, among the 9 displayed products under Huansquare Quantitative, 8 have recorded negative returns year-to-date, with all monthly declines in July exceeding 20%, and the maximum drawdown reaching 22.15%; among the 14 products displayed by Mingcong Investment, 9 have recorded negative returns year-to-date; in Jiukun Investment's 15 products, 14 still have positive returns year-to-date, but the monthly drawdown is also significant. In contrast, Yanfeng Investment has shown relatively stable performance.Regarding this drawdown, multiple institutions believe that this round of adjustment is more due to emotions and trading structures rather than the end of the AI industry trend. Freshwater Spring Investment pointed out that AI is still rapidly developing in terms of model capability enhancement, cost reduction, and the diffusion of application scenarios. Referencing experiences from the internet era, it is normal for there to be fluctuations during the advancement of technological waves. Institutions believe that AI investment is gradually transitioning from the previous focus on computing power infrastructure in the "first half" to "intelligent equity" in the "second half"—that is, a phase where the cost of intelligent usage continues to decline and application scenarios are accelerated in unlocking, providing opportunities for supply chain companies that can offer cost-effective solutions for leading model companies and large cloud vendors.

Bithumb plans to complete its IPO by 2028 and is advancing multiple reforms, including internal control and the transition to K-IFRS accounting standards

The South Korean cryptocurrency exchange Bithumb has published an update on its IPO preparation progress. Bithumb stated that it is collaborating with leading domestic accounting firms to advance the construction of its risk management system, converting accounting standards from K-GAAP to internationally accepted K-IFRS, and strengthening internal compliance and internal control processes. The company is also restructuring its business by spinning off Bithumb Asset and clarifying the responsibilities and boundaries of each business segment; at the same time, it is promoting business model diversification and liquidity asset reserves to enhance financial stability.Bithumb claims it will maintain transparent operations by regularly disclosing financial status, operational matters, and cryptocurrency asset holdings, and will collaborate with large domestic and international securities firms, law firms, and accounting firms to assess corporate value and legal risks, as well as to formulate strategies for the pre-listing review.Regarding the timeline, Bithumb plans to complete the upgrade of its internal control system and K-IFRS conversion preparations by 2026, submit the pre-listing review and undergo audits in 2027, and complete the IPO in 2028, with specific timelines potentially adjusted based on market conditions and regulatory review progress.

BitGo CEO deposits 100 BTC to challenge Anthropic: testing whether AI can crack multi-signature custody

Bitgo CEO Mike Belshe deposited 100 BTC into a public Bitcoin address, valued at approximately $6.3 million at the time, and invited the Claude model under Anthropic to attempt to transfer the funds from that address. On-chain records show that the wallet received the funds on July 31, and the balance has not been transferred out.Anthropic previously disclosed that during 141,006 cybersecurity assessment runs, 3 incidents were found, with 6 assessment sessions involving 3 models unexpectedly interacting with real organizational systems. The relevant models include Claude Opus 4.7, Claude Mythos 5, and an unpublished internal research model, due to configuration errors by third-party testing partner Irregular that caused the testing environment to connect to the internet.Anthropic stated that Claude Opus 4.7 identified a real website sharing the same name as a simulated company during one assessment, exploited weak passwords and exposed services to recover infrastructure credentials, and accessed a production database containing hundreds of records. The company claimed that the model was attempting to complete assigned tasks and was not actively breaking restrictions or pursuing independent goals. Belshe's challenge involved the Bitgo institutional custody platform, which uses multi-signature or multi-party computation technology to distribute signing authority across multiple independent keys. Anthropic has not publicly responded to this challenge.
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