A landmark event has occurred in the domestic large model sector. DeepSeek, which had been self-funded until now, is seeking external financing for the first time, with a valuation exceeding $10 billion. This could alter the competitive landscape of China's AI large models and also reflects the ongoing pressures of computing power and R&D investment.
Zhihu
Sam Altman's Side Projects Blur the Boundaries of OpenAI's Interests
The Wall Street Journal reported that several personal investment projects by OpenAI CEO Sam Altman pose potential conflicts of interest with OpenAI's business, sparking governance controversies. As OpenAI prepares for its IPO, this issue may become a regulatory focus.
WSJ
Running Qwen3.6-35B Locally Yields Results Comparable to Claude
A user ran the Qwen3.6-35B model (64k context) with 8-bit quantization on an M5 Max 128GB MacBook, achieving a programming experience close to that of Claude through OpenCode. The usability of local large models is rapidly approaching that of cloud services.
Hot topic: The developer community is seriously discussing "when we no longer need to subscribe to Claude."
> Spicy take: The timing of DeepSeek's fundraising is微妙—when you prove that you can build a good model without burning cash, investors actually want to give you more money.
Crypto / Web3
KelpDAO Hacked for $294 Million, LayerZero Cross-Chain Bridge Incident Again
An attacker forged LayerZero cross-chain messages, minted 116,500 rsETH (worth $294 million) out of thin air, and used it as collateral to drain real ETH from lending protocols. The multi-signature paused the protocol after 46 minutes, but the damage was already done.
Hot topic: The community is once again questioning the trust layer design of cross-chain bridges, while THORChain promotes its "native cross-chain" solution.
lookonchain | THORChain
Aave Faces $5.4 Billion ETH Withdrawal Wave, Utilization Rate Soars to 100%
Following the KelpDAO attack that left Aave with bad debt, whales panicked and withdrew over $5.4 billion, with Justin Sun alone withdrawing $154 million worth of ETH. The ETH pool utilization rate has reached the 100% cap, and the AAVE token plummeted 18% in a single day.
WuBlockchain | lookonchain
RAVE Cryptocurrency Crashes 95% in a Single Day, $6.3 Billion Market Cap Evaporates
Suspected insider manipulation caused the RAVE token to plummet 95% from its peak in one day, wiping out $6.3 billion in market cap. Another typical pump-and-dump incident highlighting the manipulation risks in the crypto market.
Iran Demands Bitcoin Payment for Strait of Hormuz Transit Fees
Amid the chaos of repeatedly closing and opening the Strait of Hormuz, Iran has begun requiring ships to pay transit fees in Bitcoin. Geopolitical crises are driving the practical application of alternative payment methods.
Finance Feeds
> Spicy take: Cross-chain bridges are in trouble yet again. The industry's obsession with "trust layers" is like its obsession with "decentralization"—everyone talks about it, but in action, they all take shortcuts.
Chips / Hardware
Huang Renxun Nearly Loses Composure When Questioned About Chip Sales to China
When asked about selling chips to China, Nvidia CEO Huang Renxun emotionally responded: "You're not dealing with someone who wakes up a loser." A rare public loss of composure reflects the immense pressure from the U.S.-China chip war.
Tom's Hardware
Semiconductor Industry Faces Another Round of Price Increase Notices
Following consecutive limit-up rallies for leading optical module equipment companies, the semiconductor supply chain has issued another round of price increase notices, affecting coupling and packaging testing equipment.
Cailian Press
Tech Companies
Tesla Expands Self-Driving Taxi Service to Dallas and Houston
Tesla's Robotaxi service continues to expand, adding two major cities in Texas. Musk's commercialization of full self-driving is accelerating.
36Kr
U.S. Stocks
Trump Launches Rapid Treatment Program for Severe Mental Illness
The White House released a fact sheet announcing an accelerated medical treatment approval process for severe mental illnesses. The WSB community热议 with dark humor, saying "finally someone cares about us."
White House
U.S. Stocks "Rise No Matter What" Sparks Discussion
Despite Middle East geopolitical tensions and Iran closing the Strait of Hormuz, U.S. stocks continue to rise. Investors are beginning to question whether the market is overly optimistic or numb to risks.
Finance / Macroeconomics
Iran's Strait of Hormuz "Opened Then Closed" Exposes Internal Rifts
Iran's foreign minister announced on Friday that the strait was "fully open," only for the Revolutionary Guard to announce via maritime radio hours later that it was "still closed" and criticize the foreign ministry's "naive tweets." This public confrontation reveals deep contradictions between Iran's political leadership and military hardliners.
WSJ | CNN
50 Days of Iran Conflict, Global Oil Revenue Losses Reach $50 Billion
Since the conflict erupted in late February, global markets have lost over 500 million barrels of crude oil and condensate. At an average price of $100 per barrel, losses exceed $50 billion. Analysts call this the largest energy supply disruption in modern history.
6551
> Spicy take: Iran's foreign ministry and Revolutionary Guard argued on Twitter, and oil prices went on a roller coaster. This is probably the Persian version of "governing by Twitter."
New Products / New Trends
Chinese Humanoid Robot Wins Half Marathon, Surpasses Human Record
At the Beijing Humanoid Robot Half Marathon, Glory's "Lightning" robot broke the 20-kilometer mark for the first time and won, with a time surpassing some human runners. Over 70 teams and 300+ robots participated, marking a milestone in the athletic capabilities of humanoid robots.
Hot topic: Overseas communities are amazed by the speed of China's robot development.
Zhihu | Reddit
NASA Shuts Down Voyager 1 Instrument to Extend Spacecraft's Life
To conserve energy, NASA turned off one of Voyager 1's scientific instruments. Launched in 1977, the probe has been operating for nearly 50 years. The team faces a difficult choice: collect more data or let it travel farther.
NASA
Today's Undercurrent
Cross-chain bridges exploding again, U.S. stocks immune to all bad news, Iran's factions working against each other—today's theme is "systems out of control." Whether it's the trust assumptions at the technical layer, the market's risk pricing mechanisms, or the command chains in geopolitics, vulnerabilities are being exposed. Amid the chaos, some are collecting tolls in Bitcoin, while others are making robots run marathons. When old orders begin to fail, new experiments emerge.
