The BitPush editor curates today's top global assets & AI developments for you:
[U.S. official: U.S. military conducts new strike on Iranian military base]
According to BiTui, a U.S. official told Reuters that the U.S. military conducted a new strike on an Iranian military base that posed a threat to U.S. forces and commercial shipping in the Strait of Hormuz. The U.S. military also intercepted and shot down multiple Iranian drones that threatened U.S. forces and commercial maritime traffic.
[Michael Saylor: Strategy's STRC has reached an annualized run rate of $24 billion and will purchase 2 to 3 times the BTC produced by miners]
Blockworks News: Michael Saylor of Strategy said that STRC has an annual run rate of $24 billion, purchasing two to three times the Bitcoin output of miners alone.
This year, the strategy has purchased $11 billion in BTC, at a pace twice the rate of miner output.
[The Wall Street Journal: Amazon reaches a $6 billion agreement with Snowflake to procure Graviton intelligent computing chips]
Biqiu news, according to the Wall Street Journal: Amazon has reached a $6 billion agreement with Snowflake to procure Graviton intelligent computing chips, with Snowflake (SNOW.N) committing to invest $6 billion over the next five years on AWS for Graviton computing and artificial intelligence expenses. Snowflake (SNOW.N) shares rose 30% in after-hours trading.
[Meta launches an AI chatbot subscription service to offset associated costs]
Beats News reports that Meta Platforms (META.O) has launched its first consumer subscription service for its Meta AI chatbot to help offset the company’s trillions of dollars in AI investments. The new subscription service is offered in two tiers: Meta One Plus at $7.99 per month and Meta One Premium at $19.99 per month. Meta is initially rolling out its AI subscription service in Singapore, Guatemala, and Bolivia, with plans to expand to additional countries later. Users can continue to use Meta’s AI chatbot for free to generate images and videos, but will eventually encounter usage limits as usage increases. Meta has declined to disclose the usage limits for each tier but stated that higher-tier members have significantly higher usage volumes.
JPMorgan Chase is hiring a Global Crypto Research Analyst
Beijing News reports that Frank Chaparro, Head of Content at GSR, posted on X that JPMorgan is hiring a Global Research Crypto Analyst, reporting to its FX Strategy research team.
The position will focus on researching cryptocurrency market structures, spot and derivatives markets, and integrating digital assets into a broader cross-asset strategy framework to support the bank’s overall research and investment decisions.
AI coding company Cognition raises $1 billion in funding, led by Lux Capital and others
Decrypt reports that AI coding startup Cognition has announced a $1 billion funding round, valuing the company at $26 billion, with Lux Capital, General Catalyst, and 8VC co-leading the round. Other investors include Ribbit Capital, Atreides Management, and Peter Thiel’s Founders Fund. Cognition AI focuses on AI-driven software development tools and is regarded as a key player in the AI programming space. Market participants note that this funding round further reflects continued investor enthusiasm for the “AI + software engineering automation” sector. (Bloomberg)
[Bloomberg Analyst: Trading activity for the SK Hynix ETF is extremely rare, with AUM surging tenfold this year]
Bloomberg senior ETF analyst Eric Balchunas stated on X that Hong Kong’s 2x leveraged SK Hynix ETF (7709) has seen its assets under management grow approximately tenfold this year, becoming the third-largest ETF in Hong Kong, accounting for about 8.5% of the total ETF assets in the market. The ETF has also recorded extremely high trading activity, with daily turnover exceeding the $1 billion level. Equivalent to U.S. market scales, this translates to a daily trading volume of approximately $150 billion, considered extremely rare in the global ETF market.
Eric Balchunas specifically noted that, if translated proportionally, this ETF would be equivalent to a $1.3 trillion-sized ETF in the U.S. market, but no product of this scale currently exists globally.
Market participants believe this phenomenon reflects a rapid increase in capital concentration in Hong Kong’s derivative ETFs and single-underlying leveraged products, while also highlighting the growing activity in Asia’s high-risk structured ETF trading.
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