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According to attendees, U.S. Treasury Secretary Bessent stated during a closed-door meeting on Wednesday that there are no systemic issues in the artificial intelligence industry, and it cannot be compared to the internet bubble at the turn of the century. Bessent expressed an optimistic attitude towards this cutting-edge technology, believing that technological advancements will benefit the United States, but also acknowledged that data centers and AI companies have not done enough to explain the benefits of this technology to the average American.The closed-door meeting attracted over a hundred executives and investors from the financial industry, with ticket prices starting at $7,500 and top sponsorship packages costing up to $100,000. Proceeds from the meeting are used for charity. This year marks the 14th edition, having raised nearly $72 million in total. Bessent has publicly predicted multiple times that the development of artificial intelligence will significantly increase productivity and greatly boost U.S. economic growth. Currently, there is growing concern in American society regarding investments in artificial intelligence and data centers, leading to a sell-off of AI stocks.Former U.S. Treasury Secretary Yellen pointed out that she always confirms the presence of the media and issues public reports when she gives speeches. Bessent's office responded that his views expressed at the closed-door meeting had been publicly stated before and do not involve issues of transparency; in addition to artificial intelligence, he also discussed his views on the U.S. economy. More and more regions are beginning to oppose the construction of data centers, which is affecting the upcoming U.S. midterm elections, leading to a decline in support for U.S. President Trump and the Republican Party.

Blackstone Group President Jon Gray refuted billionaire Ken Griffin's claim a few days ago that there is a bubble in artificial intelligence (AI). Gray stated on Thursday, "When you think of a bubble, you think of building capacity first and then hoping for demand to appear.But in the AI field, you are building capacity while hoping to keep up with demand." He said this is a "completely different situation" compared to phenomena like the telecom bubble of the 1990s. He mentioned the AI consulting company Ode, which Blackstone co-founded with Anthropic. "We simply cannot keep up with customer demand," he said. "Demand is growing almost parabolically."

According to Bloomberg, financial executives have differing opinions on whether AI has become a bubble. Ken Griffin previously warned that AI investors are almost certainly in a bubble and should prepare for setbacks, stating that significant economic transformations are often accompanied by bubbles. Recently, the market has been concerned that the time it takes for the massive upfront capital expenditures in AI to translate into profits and productivity gains may be longer than expected. Deutsche Bank CEO Christian Sewing stated that there is no reason to worry about a sharp reversal in asset prices in the short term; individual companies may face setbacks, but he does not believe the market is in a bursting bubble.Sewing distinguished between a bubble and ongoing volatility, mentioning geopolitical tensions. He stated that if the regulatory framework is appropriate, the industrial application of AI will become a century opportunity for Germany. BlackRock CEO Larry Fink advocated for accelerating the construction of AI data centers, warning that delays could threaten economic growth and exacerbate inflation due to high computing costs. He previously mentioned that AI faces a supply shortage, with demand growth exceeding expectations, and stated that the faster more data centers are built and more computing power is available, the quicker costs can be reduced.Federated Hermes Chief Investment Officer for Global Equities Steve Chiavarone said that investors worried about an AI bubble may be correct in their judgment, but it is several years too early; infrastructure still has several years of growth potential, after which the risk of overbuilding will become more pressing. The market is still differentiating which companies can secure funding and at what interest rates, which is contrary to the bubble period.Compared to the AI bubble, both Fink and Sewing view the fiscal deficit as a more pressing concern, especially as the AI industry competes with the government for investment funds. The U.S. fiscal deficit is nearing $2 trillion, and U.S. Treasury yields have risen to decades-high levels.Fink stated that the current level of capital competition is the highest he has seen in his career. Regarding the rising risk of French government bonds, Sewing said it cannot yet be called a debt crisis, but it serves as a warning for public finances, emphasizing the importance of budget discipline.

Castle Securities CEO Griffin stated that there is almost certainly a bubble in the AI field, although bubbles are often accompanied by significant technological breakthroughs. Companies are carefully reviewing the bills from Anthropic and OpenAI, and some companies are struggling to derive value from AI.

The on-chain data analysis platform Bubblemaps accused that wallets associated with Anglio traded in advance before recommendations were published on Pump.fun, estimating a profit of about $50,000 from trades and approximately $80,000 in recommendation rewards. Bubblemaps presents the relationships between on-chain wallets through visual bubble charts, used to identify the connections between token holders and the flow of funds.This accusation points to the recommendation behavior on Pump.fun, where certain accounts built positions before the tokens were publicly recommended. Meanwhile, Pump.fun is shifting its reward payment mechanism to focus on the earnings of followers, distributing rewards based on the returns of followers.

According to a report by Wall Street Journal, Paul Tudor Jones, the founder of Tudor Investment, stated on CNBC on Tuesday that 2027 will be very difficult for the stock market. The current supply and demand situation in the U.S. stock market is the worst since 2002, similar to the period just before the burst of the internet bubble in 1999. He plans to short the U.S. stock market for the entire year next year. His reasoning is that the buybacks and mergers and acquisitions that have supported the bull market over the past four years have continued to compress stock supply, but this logic is now reversing: large IPOs like Anthropic and OpenAI are about to come, SpaceX's issuance has just been completed, and many companies will also issue additional financing for AI development.He also listed the U.S. fiscal deficit as another major hidden danger, believing that the likelihood of the market being forced to correct is 60 to 40. Regarding crude oil, he holds a long position, believing that the U.S.-Iran conflict is unlikely to be resolved in the short term, and that oil prices still have a potential increase of 20 to 25 dollars.

The Chief Investment Officer of DBS Group, Hou Wey Fook, stated that Nvidia's price-to-earnings ratio and the expected 70% profit growth next year indicate that AI-driven tech stocks are still far from a bubble. Nvidia's price-to-earnings ratio for the next 12 months is 17 times, well below Cisco Systems' approximately 100 times before the internet bubble.He suggested adopting a "barbell strategy" to control portfolio volatility.

U.S. Treasury Secretary Becerra stated that the recent rise in U.S. Treasury yields is consistent with global trends and does not warrant excessive panic. He praised the U.S. financial intervention in Argentina and expressed an open attitude towards similar assistance in the future. Additionally, Becerra dismissed concerns about an AI bubble, believing that companies like Microsoft, Google, and Meta are driving significant revenue growth.

In episode 166 of the BidClub podcast, chip designer Bubble boi stated that high-bandwidth flash is technically attractive but lacks decisive data center use cases. The information he provided indicated that the main customers he heard about are Chinese clients who find it difficult to obtain or produce high-end HBM.Bubble boi mentioned that HBF and high-end AI flash have a latency of about 5 microseconds, lower bandwidth than HBM, a lower cost per bit, but the total cost may be comparable. He believes the clearest customers are entities unable to obtain HBM, which aligns with the Chinese demand he heard from two to three people, as they cannot adequately manufacture accelerators or are willing to accept non-leading specification products.

According to monitoring by Bubblemaps, Circle has completed the minting of 10 billion ARC tokens and distributed them to 11 addresses via a null address, which can now be tracked in real-time on the blockchain.The Arc team previously announced that the minting of ARC tokens has been completed, with a total of 10 billion tokens. The team emphasized that ARC tokens are not yet available for circulation, trading, public use, or activation for staking, governance, fees, or utility functions. According to the previous white paper, the distribution plan for ARC tokens is as follows: 60% allocated to the ecosystem (token sales, developer funding, network growth); 25% allocated to Circle (protocol development, staking, and governance); 15% allocated to long-term reserves (strategic flexibility and economic stability).

Bubblemaps posted on platform X that the main wallet addresses for LAPTOP are mostly new wallets, with 60% of the addresses having no on-chain activity prior."New wallets" refer to addresses that have received funds only in the past 10 days, and most of the wallets mentioned above received funds today.

Bubblemaps stated that the wallet address that previously targeted the MARS token has sold all the tokens it held, making a profit of approximately 800,000 USD.

According to Bubblemaps, approximately 80% of the tokens for the Solana ecosystem's Trump parody meme coin CHUMP are concentrated in bundled addresses, with the project being promoted by several crypto Twitter KOLs.On-chain data shows that before the token surged, over 75 new wallets were injected with a similar amount of SOL in a short period, and then bought about 80% of CHUMP. These wallets had no prior on-chain activity, and the funds were transferred through multiple new addresses, Uniswap trades, and Relay.Bubblemaps stated that it is currently unclear who the actual controlling party of the tokens is, but the source of funds and trading patterns are highly similar, suggesting that a single entity may be in control, and advising investors to participate with caution.

Bubblemaps posted on platform X that attackers exploited a vulnerability in the Cosmos EVM shared module to steal $50 million worth of NES tokens, but ultimately only profited about $60,000. Previously, Cosmos Labs reported security vulnerabilities in its shared Cosmos EVM software, affecting multiple chains built on this module, including Nesa.According to disclosures, the main attacker with an address starting with 0x9AE7 previously spent $250,000 to purchase NES and cross-chain to Nesa Chain, then exploited the vulnerability to inflate the account balance by 200 times and transferred $50 million NES back to Ethereum, with the initial funds coming from Monero. The attacker then dispersed the tokens to multiple wallet addresses, exchanged NES for ETH on a DEX, and deposited the profits into a centralized exchange.Due to the rapid withdrawal of funds from the liquidity pool, most of the attacker’s exchange transactions encountered severe slippage, resulting in an actual expenditure of $255,000 to initiate the attack, cashing out only $315,000, with a net profit of about $60,000.Bubblemaps stated that although another Cosmos EVM chain had also suffered a similar attack of $1.4 million the day before, the differences in funding sources and operational methods suggest that the two incidents may have originated from different attackers. The report also mentioned that the price of NES tokens once plummeted by 90%, but has since significantly rebounded, with the team believing that the rebound is mainly due to arbitrage activities caused by price mismatches between DEX and CEX after the attack.

According to a report by Reuters, after the Chinese robot manufacturer Unitree was listed on the Shanghai Star Market, its stock price has cumulatively dropped about 45% from the peak on its first day of trading. The market value once soared to $66 billion before retreating by about $30 billion, raising concerns about bubble risks, retail investor losses, and the IPO mechanism. On its first day of listing, it closed up 460%, far exceeding the average first-day increase of 226% for new stocks in China over the past three years, and then fell for three consecutive days, with the stock price stabilizing somewhat on Tuesday.Unitree is one of the world's leading manufacturers of quadruped and humanoid robots, capable of performing actions such as running, dancing, and martial arts, but broader commercialization remains limited, competing with companies like Tesla and Boston Dynamics. The prospectus shows that the adjusted net profit for the first quarter of 2026 decreased by 53% year-on-year to 40 million yuan, and there are also signs of profit slowing in the first half of the year. The company was listed through a fast-track process on the Star Market, which may set a precedent for other domestic peers.Analysts point out that investors are driven by the "technology revolution narrative," and the first-day performance reflects market sentiment. The discrepancy between IPO pricing and opening price indicates that at least one party is misaligned; there are also views that the rise is more due to motives for raising prices for unloading, with short selling being restricted and retail investors exacerbating volatility. Some institutions believe that robot companies have high R&D investments and that orders have not yet been realized on a large scale, making it inappropriate to focus solely on short-term profits, similar to the early electric vehicle industry.

The on-chain data visualization analysis platform Bubblemaps has issued a warning that the Meme coin XST, which is being heavily promoted on TikTok, has a high risk of supply concentration—74% of its total supply is controlled by a small group, exhibiting typical Rug token characteristics. The current market value of this token is approximately 70 million USD.Bubblemaps urges investors to stay away from such projects and to ignore similar content if seen on TikTok's recommendation page.In recent years, TikTok has become an important distribution channel for low-quality Meme coins, creating an illusion of credibility through AI-generated celebrity videos and false associations, combined with the token's concentrated holding structure, resulting in typical high-risk Rug tokens after the hype fades.