A series of crypto, AI, and market developments emerged between Sept. 6 and Sept. 7, ranging from capital injections at major Chinese financial institutions to token unlock schedules, exchange withdrawal complaints, a sidechain security incident, and a proposed shutdown of Harmony’s mainnet.
Eight central financial institutions in China announce capital replenishment plans
Industrial and Commercial Bank of China, Agricultural Bank of China, Export-Import Bank of China, China Export & Credit Insurance Corporation, PICC, China Life Group, China Taiping, and China Re each disclosed capital increase plans totaling about 360 billion yuan.
The funds are intended to replenish core Tier 1 capital and strengthen support for the real economy. ICBC and ABC plan private A-share placements to the Ministry of Finance, China National Tobacco Corporation, and related subsidiaries, seeking up to 100 billion yuan and 160 billion yuan, respectively. The Ministry of Finance also plans to inject 30 billion yuan into the Export-Import Bank of China and 10 billion yuan into China Export & Credit Insurance Corporation. PICC plans a private A-share placement to the Ministry of Finance of no more than 15 billion yuan. The ministry also plans to inject 35 billion yuan into China Life Group, 7 billion yuan into China Taiping, and subscribe in cash for 3 billion yuan of domestic shares in China Re.
Offchain Labs co-founder says ARB lockup figures are widely misunderstood
PANews reported on Sept. 6 that Offchain Labs co-founder Steven Goldfeder said in a post on X that the market has misunderstood ARB’s supply structure, with some datasets classifying DAO-held tokens as “locked.”
Goldfeder said unlocks for ARB investors and team members are close to completion and are expected to finish in March next year. At that point, the remaining locked tokens would account for only about 7.7% of ARB’s total supply.
He added that a large amount of ARB is actually held in the Arbitrum DAO treasury, which currently holds about 2.84 billion ARB. Those tokens are not locked in the traditional sense, but any movement of them depends entirely on governance votes by ARB holders. The DAO cannot deploy that treasury without approval from token holders through governance.
Pons and Fomo outpaced Hyperliquid in 24-hour protocol revenue
According to DefiLlama, Pons generated about $1.85 million in protocol revenue over the past 24 hours and Fomo generated about $1.77 million, both above Hyperliquid’s roughly $866,500. The three ranked fourth, fifth, and seventh on the protocol revenue leaderboard.
Over the past seven days, Pons generated $7.16 million, Fomo generated $7.06 million, and Hyperliquid generated $13.06 million.
APT, LINEA, CHEEL, and PEAQ face large token unlocks next week
Token Unlocks data showed that several tokens are scheduled for sizable releases next week.
- Aptos (APT) is set to unlock about 11.31 million tokens at 6:00 p.m. Beijing time on Sept. 11, equal to about 0.65% of circulating supply and worth about $7 million.
- Linea (LINEA) is set to unlock about 960 million tokens at 7:00 p.m. Beijing time on Sept. 10, equal to about 3.01% of circulating supply and worth about $2.6 million.
- Cheelee (CHEEL) is set to unlock about 6.42 million tokens at 8:00 a.m. Beijing time on Sept. 13, equal to about 0.79% of circulating supply and worth about $2.3 million.
- peaq (PEAQ) is set to unlock about 84.84 million tokens at 8:00 a.m. Beijing time on Sept. 12, equal to about 3.41% of circulating supply and worth about $2.1 million.
CNBC reports “model fatigue” as AI firms roll out new releases
CNBC said Anthropic, OpenAI, Meta, and Google all introduced new large models or upgraded versions this week, contributing to what it described as “model fatigue” in the market.
Anthropic released Claude Fable 5.1 and Claude Mythos 5.1. Meta released Muse Spark 1.3. Google launched Gemini 3.8 Flash. OpenAI rolled out GPT-6 Astra, which is positioned around cybersecurity and computer-use capabilities. Nvidia also announced a $12.9 billion acquisition of open-source AI platform Hugging Face and has continued releasing open models.
CNBC said limited compute resources and regulatory uncertainty are pushing up the cost of model selection and evaluation for companies and developers while increasing security risks.
WOO X faces withdrawal complaints
On-chain investigator ZachXBT said multiple verified WOO X users reported that withdrawals had remained in pending or processing status over the past three days, and that some transactions had been canceled.
ZachXBT also said WOO X was acquired in the fourth quarter of 2025 by FusionX Digital, a company he said is linked to BitMart founder Sheldon Xia. At the time of publication, WOO X had not issued a statement on the withdrawal issue.
Solana and Arbitrum co-founders renew public dispute
PANews reported on Sept. 6 that Solana co-founder Toly pushed back after Arbitrum co-founder Steven Goldfeder argued that the market should not fall into a “narrative trap” of simply comparing listed on-chain transaction prices.
Toly said Arbitrum currently has wider spreads and higher fees, and that the cost represented by the 10% take rate on fees alone already exceeds sandwiching fee rates. Factoring in worse spreads, the overall cost is about 10 times higher by his estimate. He argued that a single-sequencer model designed to maximize shareholder interests can never beat permissionless market competition.
Goldfeder had said earlier that Arbitrum One and Robinhood Chain are both actively working to limit harmful MEV such as frontrunning, and that some chains promoted as low-fee alternatives may actually expose retail traders to higher hidden costs through frontrunning and sandwich attacks.
Harmony proposes shutting down mainnet and migrating ONE to Ethereum
Harmony released two proposals that would fully shut down the mainnet it launched in 2019, migrate its native token ONE to Ethereum, and shift the project toward an AI video “remix economy” business. The team said threats from state-level attackers and AI agents are the reason it put forward the shutdown plan.
Under the migration plan, the team would take a snapshot at the final block of the network covering user wallets, delegated staking, validator rewards, smart contracts, and tokens held on centralized exchanges. New ONE on Ethereum would then be airdropped to the same wallet addresses, with no active claim required from holders. Delegated stake and unclaimed rewards would be airdropped to the respective governor treasuries. ONE’s total supply and issuance rate would remain unchanged. Newly issued tokens are intended for the new business, subject to feedback from governors.
Multisig wallets, liquidity pools, and on-chain applications would not be migrated. The team urged users to exit all smart contracts by Sept. 10, 2026. It also said the token contract, snapshot calculations, and airdrop scripts would be made public for audit.
Validators would be able to stop running nodes starting at 10:00 p.m. Beijing time on Sept. 10. The team said it intends to compensate the gap in inflation rewards between node shutdown and the final network block, and create a one-time compensation pool of $1.372 million. That compensation would be paid over four quarters to validators and their delegators that stop on time, sign the agreement, keep their stake, and serve as governors in the new project.
The new business would open prompts and source materials for users to remix, while AI agents expand video narratives. Harmony also plans to recruit operators responsible for video generation, distribution, and content review. The project said it plans to subsidize GPU hardware in the first year and stimulate demand for video generation. Operators would need to stake tokens and would be rewarded based on service uptime. Harmony said it plans, subject to staking and uptime requirements, to help operators generate as much as $1 million in total income in the first year. Promoters would initially receive a continuing 30% commission on the $10 monthly subscriptions from users they refer. Both proposals are non-binding and may still change.
South Korean stocks open higher
Market data showed South Korea’s KOSPI index moved above 6,900 and opened up 3.34%. Samsung Electronics rose 4.5% and SK Hynix gained 5.4%.
Liquid Network hit by incident involving about 4,000 BTC
Liquid Network suffered a security incident in which about 4,000 BTC, currently valued at about $320 million, was taken from its Federation wallet by what was described as a white-hat hacker.
The amount represented about 95% of the bitcoin reserves reported by Liquid. Before the incident, Liquid’s bitcoin reserves stood at about 4,200 BTC. The Liquid sidechain has been paused, major exchanges have suspended LBTC deposits and withdrawals, and network technology provider Blockstream is trying to contact the relevant responsible parties.
Liquid said the funds were extracted through the SideSwap PAK, or Peg-out Authorization Key. The network said that key, along with other keys, had not been leaked. It did not explain the root vulnerability behind the withdrawal.
Liquid said it had informed some crypto exchanges to suspend, or prepare to suspend, LBTC deposits and withdrawals. It also temporarily shut down bridge nodes to block new transactions from being submitted to the network. Other assets issued on Liquid, including USDT, DePix, and RWAs, were not affected by the incident.
ZEC rally pushes major short position deeper into unrealized loss
As ZEC climbed from $400 to above $1,200 over three months, the largest short holder, the Garrett Jin whale entity, moved to an unrealized loss of $25.7 million. The address opened a short on 32,760 ZEC in early July at $444.
The same whale also holds a $107 million BTC long. That position shows an unrealized gain of $4.42 million, though it has paid $2.05 million in funding fees.
Hyperliquid development team receives unstaked HYPE and sends it to 11 addresses
The HyperLabs address tied to the Hyperliquid development team received 433,000 HYPE about 12 hours ago after applying to redeem it seven days earlier. The amount was valued in the source at about $38.14 million. About nine hours ago, the tokens were sent to 11 addresses.
According to the source, the team now unstakes and transfers more than 400,000 HYPE every month, roughly matching monthly staking interest income. It holds 241 million HYPE, valued in the source at about $21.2 billion, and earns 14,400 HYPE per day in staking interest, or about $1.26 million. The monthly staking yield is roughly in line with the amount transferred out each month.
Jensen Huang congratulates OpenAI on GPT-6 Astra
Nvidia CEO Jensen Huang congratulated the OpenAI team in a post on X, saying GPT-6 Astra was trained on more than 100,000 NVIDIA Grace Blackwell NVLink72 GPUs and that the path from ChatGPT to O1 to Astra took four years.
He also wrote that “the age of AGI has arrived” and said another 400,000 GPUs will come online in the next phase.
Robinhood ecosystem meme tokens fall broadly
PANews reported on Sept. 7, citing GMGN data, that major meme tokens in the Robinhood ecosystem posted broad declines.
- MEME had a market capitalization of about $89.9 million and fell 25.08% over six hours.
- PONS had a market capitalization of about $560 million and fell 15.11% over 24 hours.
- microduck had a market capitalization of about $23.11 million and fell 33.94% over 24 hours.
- CASHCAT had a market capitalization of about $226 million and fell 8.3% over 24 hours.
- AI had a market capitalization of about $195.6 million and fell 19.14% over 24 hours.
- SHROOM had a market capitalization of about $33.4 million and fell 23.7% over 24 hours.
The source noted that meme token prices are highly volatile and that investors should be cautious.
Lummis says a failed Clarity Act this Congress could push the next opening to 2030
U.S. Senator Cynthia Lummis said in a post that if the Clarity Act does not pass in the current Congress, the next real opportunity to revisit market structure legislation may not come until 2030.
She said finishing the work now would avoid wasting years of jobs, investment, and tax revenue.
Two AI items in PANews’ 24-hour roundup
PANews AI Watch highlighted two AI developments from the past 24 hours. One said xAI, Elon Musk’s company, is working with the government of El Salvador to deploy Grok as a national AI tutoring system in more than 5,000 schools, covering more than 1 million students from kindergarten through high school. The source described it as one of the largest real-world deployments of a large language model in public education.
The second item said OpenAI published full developer documentation for GPT-6 Astra, with Simon Willison offering an early reading of the release. The summary said the model stands out in 3D generation and can produce detailed renders of gardens, docks, cityscapes, and even Dyson spheres.