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The European digital currency market is forming a pattern of parallel development between the central bank digital euro and private euro stablecoins. Revolut has previously launched phased testing of EURR in Denmark, Poland, and Portugal. This euro stablecoin operates on Ethereum and is issued by Bridge Building, a subsidiary of Stripe.The ECB emphasizes that the digital euro will adopt a highly private design, with offline payment information only held by the transacting parties, and online transactions cannot be directly linked to individuals by the Eurosystem. Europe is advancing its digital payment system through public digital currencies and private stablecoins to reduce reliance on dollar stablecoins and non-European payment infrastructures.

Tencent Hunyuan has released and open-sourced the next-generation large language model Hy4 preview. This model has a total of 770B parameters and 49B active parameters, with a context length exceeding 1M. It demonstrates strong capabilities in real productivity tasks such as coding, office work, and science, firmly placing it in the top tier of open-source models. Hy4 preview significantly expands in model size, context length, and data scale, and enhances real-world performance through high-quality data co-built with Tencent experts in software engineering, gaming, finance, security, and deep collaboration with products like WorkBuddy.In software engineering, the model enhances understanding, planning, debugging, and verification capabilities for long-range development tasks, enabling the construction of complex front-end projects like a Three.js miniature town from scratch. In game development, it supports generating playable prototypes from a single sentence and can complete a full demo in Unity. In smart office applications, it can handle complex financial audits, filtering, analyzing, and delivering from multiple documents. In scientific research, it achieves acceleration in tasks such as molecular dynamics simulations and has initially formed a recursive self-improvement feedback loop.Hy4 preview can be experienced in Tencent products such as WorkBuddy/CodeBuddy domestic and international versions, Yuanbao, ima, and can also be accessed via API calls through Tencent Cloud Tokenhub and OpenRouter. WorkBuddy/CodeBuddy will launch a limited-time free activity for two weeks. Since the reconstruction of the infrastructure, the Hunyuan large model has iterated a major version approximately every two months, continuously optimizing through a preview-first and formal version-following approach.

Yesterday, Ledger disclosed details of the LSB 023 security vulnerability on its official website. Some applications built on the Ledger Secure SDK may still receive new APDU commands during the user screen confirmation, leading to inconsistencies between the parameters displayed on the screen and the final signature parameters.In cases where the attacker controls the APDU communication between the device and the host, after the user confirms the operation shown on the screen, the device may generate a signature with different parameters. Ledger stated that it has fixed the issue through application-level checks and the SDK layer, and released Ledger Secure SDK v26.6.1 on August 21. The relevant applications have been rebuilt and released. Users need to update the applications through Ledger Live; merely updating the device firmware is insufficient to complete the fix. However, Ledger claims there is currently no evidence that the vulnerability has been exploited.

Google has confirmed that it is gradually promoting the "goto" redirect parameter in search result links. When users click on a link, they will first go through a redirect address with the google.com/goto parameter, rather than directly pointing to the target webpage. This mechanism increases the difficulty for automated tools to batch parse and scrape search results through server-side redirection, in response to scraping behaviors from third-party tools and AI companies.SEO monitoring platform Nozzle's data shows that this change has nearly 100% coverage in multiple residential IP service provider environments.

According to Jinshi reports, the dark side of the moon Kimi announced that the company's first-generation trillion-parameter multimodal model Kimi K2.5 will end its service at the end of this month.

Recently, Peter McCrory, the head of economics at Anthropic, explained the AI unemployment paradox. He pointed out that AI capabilities have significantly improved, raising reasonable questions about why there has not yet been a noticeable impact on unemployment rates. The U.S. Business Trends and Outlook Survey shows that about one-fifth of U.S. businesses use AI to some extent, and productivity growth in the U.S. has strengthened in recent years, some of which may be related to AI.McCrory stated that the unemployment rate in the labor market is still close to the full employment level identified by the Federal Reserve, and even deep data analysis makes it difficult to draw clear conclusions about the impact of AI. The basic judgment is that so far, AI has shown characteristics of skill-biased technology, automating certain work processes while complementing and amplifying the professional skills that rely on human participation, thereby creating maximum value in human-machine collaboration.

The Frontier Data Research Laboratory idler announced the completion of a $9 million seed round financing, led by Alpo and Frankie from Paradigm, with participation from Y Combinator, Long Journey VC, as well as angel investors including marrc, catheryn_li, dcposch, Janine Leger, Lynett Capital, feross, and nur_daulet_.idler is positioned as a frontier data research laboratory, and this round of funding will be used to build evaluation systems, benchmark testing, and reinforcement learning environments for leading frontier laboratories worldwide to train and measure their model performance.

According to LatePost, ByteDance is discussing a large model with training parameters exceeding 50 trillion, surpassing Alibaba's Qwen 3.8-Max (24 trillion) and Moonlight K3 (28 trillion), making it the largest known plan in the country so far. This plan is still in its early stages and does not guarantee a final release. The new model is intended to be led by Xiang Liang, head of Seed Foundation, in collaboration with Shen Ke, who is responsible for the pre-training data of large language models. Seed is reorganizing, dividing responsibilities, and allocating resources based on this.Two weeks ago, ByteDance founder Zhang Yiming held a company-wide meeting with Seed head Wu Yonghui. Zhang reassured the team that training large models is inherently difficult and that it is acceptable to lag behind for a period of time, hoping to aim for the upper limits of intelligence and join the world's top tier. He acknowledged that programming is a key direction at present, advocating for the integration of Volcano Engine, Feishu, and Doubao resources to build computational power and data advantages, while reminding not to be led by a single hot topic. He praised Seedance's differentiated leadership and clearly opposed distillation, believing it is difficult to truly surpass and that AGI barriers should be built from a more fundamental level, stating that the company will continue to increase investment in AI.In the past six months, Seed's multimodal performance has been outstanding, with Seedance 2.0, Seedream, and others driving Volcano Engine MaaS, but the market response to the language model Seed 2.0 has been limited, and its lagging coding capabilities have affected the revenue structure. ByteDance has hired Guo Daye at a high salary to specialize in coding and has consolidated related resources. In the face of the industry's general trend of increasing model sizes, ByteDance hopes to achieve a leapfrog advantage with a larger scale while promoting the elimination of horse racing and breaking down departmental walls to concentrate efforts on tackling challenges.

According to Bloomberg, the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), has launched the issuance of U.S. investment-grade bonds, just two weeks after the company announced its acquisition of the bond electronic trading platform MarketAxess for approximately $6 billion.Insiders revealed that ICE's bond issuance plan is divided into up to five parts, with maturities ranging from 3 to 10 years. The preliminary pricing guidance for the longest maturity bonds is about 1.15 percentage points above U.S. Treasury yields. ICE previously announced that it would acquire MarketAxess Holdings for approximately $6 billion to further expand its presence in the fixed income trading market. MarketAxess is one of the world's leading electronic bond trading platforms, primarily serving institutional investors and providing trading services for fixed income products such as corporate bonds and government bonds.This acquisition is seen as an important move by ICE to strengthen the infrastructure of the bond market. ICE currently owns the New York Stock Exchange (NYSE), futures exchanges, clearinghouses, and data services, while MarketAxess's electronic bond trading network will help ICE further expand its ecosystem for trading fixed income assets.Market participants indicate that as bond trading gradually becomes electronic, traditional exchange operators are competing for institutional investment market share by acquiring trading platforms and data companies. This financing also reflects the trend of large financial infrastructure companies supporting strategic mergers and acquisitions through the debt market.

According to SBS, the Financial Supervisory Service (FSS) of South Korea has begun a comprehensive reform of its system to address compensation issues related to financial fraud, including voice phishing involving virtual assets. The FSS launched the "Financial Fraud Loss Compensation System Improvement Project" on August 6. This project aims to reform the existing compensation calculation system centered on the Korean won, in preparation for including virtual asset losses in the compensation scope starting in October this year.The current system primarily calculates compensation amounts based on losses valued in Korean won, but after the reform, a compensation ratio will be adopted, taking into account the type and quantity of virtual assets involved. Additionally, during payment suspensions, the Korean won exchange value of virtual assets will also be included in the calculations.

According to La Tribuna, the body of a Chinese man was found outside the Jade Park high-rise apartment in the Trinidad district of Asunción, Paraguay. Preliminary identification confirmed the identity as Harry Chun Tak Yeh, the founder and managing partner of Quantum Fintech Group. The police stated that he is suspected to have fallen from the 30th floor of the building, and his body was found completely naked and covered with a black plastic bag. Investigators found the apartment door on the 30th floor ajar, with the interior in disarray, and confirmed that he also owned another apartment on the 27th floor of the same building. Criminal technicians have collected evidence outside the building and from both apartments, and relevant physical evidence has been handed over to the prosecution. The prosecution is currently investigating multiple possibilities, including accident, suspected suicide, and homicide, while the judicial department will determine the specific cause of death and the circumstances through an autopsy.It is reported that Chinese-American cryptocurrency investor Harry Yeh entered the Bitcoin market in 2013 when the BTC trading price was $60. He launched his first fund with $250,000, and his investment network claims to manage over $2.4 billion in assets, closely linked with Fantom, Tomb Finance, Lif3, ZooCoin, L3 USD, and L3 Reserve.

According to the Financial Times, as Chinese companies continue to narrow the gap with the top AI labs in the United States, ByteDance is training an AI model that may be close in scale to Anthropic's advanced Mythos system. According to three insiders, this Chinese tech giant is currently in the early stages of training a large-scale model, which may have a parameter count reaching the trillions, approximately three times that of the largest model released in China, the Kimi K3 model under the Moonlight brand.One insider stated that ByteDance's model is currently undergoing pre-training, a phase that typically takes three to six months. If all goes well, it will then undergo fine-tuning and be released. The specific scale of the model will be determined later. Anthropic has not publicly disclosed the parameter scale of its models, but industry estimates suggest that its advanced Mythos 5 model has a parameter count of about 8 trillion, while Fable 5 has around 5 trillion.It is important to note that the number of parameters determines the model's basic capacity for storing information or memory limit, but the actual capabilities of the model also depend on other factors, including data quality and training methods.

Former OpenAI research engineer Justin Wang announced that he has joined the cryptocurrency venture capital firm Paradigm as a research partner. He will collaborate with the team under the leadership of Matt Huang and Alana Palmedo to continue cutting-edge research.Justin Wang previously participated in the EVMbench project at OpenAI and has used Paradigm's open-source tools. In the short term, he is focusing on areas related to AI model measurement and evaluation, recursive self-improvement, effective AI policy, as well as network and cryptographic capabilities.

According to a report by LatePost, ByteDance is discussing training a model with a parameter scale exceeding 50 trillion, surpassing Alibaba's Qwen3.8-Max (24 trillion parameters) and the K3 from Dark Moon (28 trillion parameters), making it currently the largest known model in terms of parameter scale in the country. Generally speaking, the larger the model scale, the higher the level of intelligence.However, this plan is still in the early stages and does not guarantee that the model will ultimately be released. The new model will be led by Xiang Liang, head of SeedFoundation, in collaboration with Shen Ke, who is responsible for the pre-training data of large language models. To this end, Seed is reorganizing, defining responsibilities, and allocating resources.

The U.S. Department of the Treasury issued a joint statement outlining the discussions from the U.S.-UK Financial Regulatory Working Group meeting held on July 8 in London. The regulatory agencies from both sides expanded their collaboration in areas such as digital assets, stablecoins, payment modernization, AI, financial stability, capital markets, and cross-border financial cooperation. Participants included the finance departments of both countries, the Bank of England, the Federal Reserve, the UK's Financial Conduct Authority, and several U.S. financial regulatory agencies.The U.S. side introduced the implementation progress of the stablecoin GENIUS Act and the market structure for digital assets, while the UK side presented the digital strategy for wholesale financial markets. Both sides support comparable regulatory standards for stablecoins, including cross-border use, comparable treatment of similar risks, and that stablecoins used as currency should be backed by high-quality liquid assets at least on a one-to-one basis. The Federal Deposit Insurance Corporation has proposed implementation standards for the GENIUS Act, covering reserves, redemption, capital, liquidity, risk management, custody, and safekeeping.The Bank of England has released a draft rule for stablecoins that could achieve systemic scale in the UK economy, including a temporary issuance cap of £40 billion for each systemic stablecoin, unrestricted use by individuals and businesses, and reserve requirements. The Financial Regulatory Working Group is expected to hold another meeting in early 2027.

According to Jinshi reports, Apple is opening a lottery registration for U.S. retail employees who wish to participate in the offline launch event, which is expected to take place in the first half of September. Internal memos indicate that participating employees will assist in organizing queues, registering visitors, welcoming attendees, and supporting the security team.Historically, Apple's iPhone launch events are usually scheduled for the second Tuesday or Wednesday of the month.