Flash News

TREE NEWS update: Nvidia’s ~$13 billion acquisition of AI platform Hugging Face has made its three French co-founders billionaires, each worth about $1.8 billion. The deal, expected to close in H1 2027, includes a six-year retention agreement. Nvidia pledged to keep Hugging Face an open platform for AI models and datasets.

TREE NEWS update: China’s National Healthcare Security Administration will expand the scope of centralized drug and medical consumable procurement, guided by the principle of “new drugs not procured, procured drugs not new.” It will include more high-volume, overpriced products and deepen efforts in traditional Chinese medicine, biologics, and consumables to reduce patient costs. Procurement rules will be optimized to prevent bid-rigging and promote fair, rational competition.

TREE NEWS reports: A large CASHCAT holder, wallet 0x685…42b0c, reduced its position by 2.725 million CASHCAT (worth $790,000) at $0.2916 each three hours ago. The whale spent $684,000 to buy 1.003 million PONS at an average price of $0.6985. It still holds 3.4 million CASHCAT, valued at $917,000.

TREE NEWS reports: Chinese stocks edged up at midday on September 4, with the ChiNext index gaining 0.43% after paring earlier gains. Consumer and agricultural shares led gains, with several stocks hitting daily limits, while precious metals fell. Trading volume reached 1.25 trillion yuan in the morning session.

TREE NEWS reports: China’s government bond futures ended the morning session mixed on [date not specified]. The 30-year main contract rose 0.02%, while the 10-year, 5-year, and 2-year main contracts each fell 0.04%, 0.04%, and 0.02%, respectively.

TREE NEWS update: China Exim Bank priced its 1-year bond at 120 billion yuan with a coupon of 1.3337%, below the expected 1.3500%. The bid-to-cover ratio was 2.86 times, and the marginal ratio was 1.25 times, indicating solid demand.

TREE NEWS update: A Chinese court ruled that a virtual currency loan contract is invalid, and the borrower must compensate the lender based on the original cost of the coins. In July 2023, Chang borrowed one virtual coin from Jin, who bought 1.14 coins for 228,200 yuan. The court found the repayment clause giving the lender price appreciation benefits invalid, and ordered compensation of 199,600 yuan per coin.

TREE NEWS update: At its 12th anniversary event, JD Supermarket reported double-digit revenue growth and a 15% year-on-year rise in users for the first half of 2026. The company added over 10 brands exceeding 100 million yuan, over 100 products exceeding 10 million, and over 1,000 products exceeding 1 million. To address rising traffic costs and price competition, JD Group VP Niu Yinghua announced four co-creation initiatives: product, user, channel, and efficiency.

TREE NEWS update: China has initiated international standards development for power battery thermal management and retired battery recycling through ISO and IEC, leveraging its industrial practices. The move aims to provide standardized support for the global power battery industry’s coordinated development.

TREE NEWS reports: An address withdrew 1 million UNI tokens, worth $6.36 million, from Binance within three hours. The move came after UNI reached a new high for the year.

TREE NEWS reports: Southbound capital net selling reached 5 billion yuan as of now. The flow reflects continued outflows from Hong Kong stocks via the Stock Connect scheme.

TREE NEWS reports: China’s overnight Shanghai Interbank Offered Rate (SHIBOR) held at 1.3620% on the latest fixing, unchanged from the previous session. The 7-day rate edged up 0.20 basis points to 1.3760%, while the 3-month rate remained steady at 1.4300%. The rates reflect stable short-term liquidity in the interbank market.

TREE NEWS update: Binance will temporarily suspend its US stock trading service on September 5, 2026, from 18:50 to 22:00 (UTC+8) to facilitate a system upgrade coordinated with its broker partner. During this period, users will be unable to submit stock trading orders. The exchange announced the planned maintenance in an official notice.

TREE NEWS update: The IMF and El Salvador reached a staff-level agreement on the second and third reviews under the Extended Fund Facility, unlocking about $140 million pending board approval. The IMF confirmed Chivo wallet has largely exited public use, with ownership and control transferred to private operators, and El Salvador pledged no further bitcoin acquisitions beyond recorded private donations.

TREE NEWS reports: An address linked to Ethena’s project team deposited all 14 million ENA tokens into Bybit six hours ago, likely signaling a full exit after two years dormant. The tokens, worth $6.89 million at receipt (price $0.4928), are now valued at $2.41 million, a loss of $4.48 million from acquisition and over $8.735 million from peak value.

TREE NEWS update: Japan’s Finance Minister Katsunobu Kato said that US Treasury Secretary Scott Bessent did not discuss Bank of Japan policy in their talks. The two countries’ ministries confirmed that no unilateral policy demands were made.

TREE NEWS update: Japan’s Finance Minister Katsunobu Kato said that US Treasury Secretary nominee Scott Bessent has long believed the yen is undervalued, attributing this mainly to interest rate differentials. The remarks highlight ongoing currency concerns ahead of potential policy shifts.

TREE NEWS update: Alibaba’s Qianwen Office, launched on August 3, surpassed 30 million total users within its first month, becoming one of the fastest-growing AI office products. Enterprise users account for over half of the user base, highlighting Alibaba’s strength in the enterprise market.

TREE NEWS update: ByteDance and ZTE’s new Doubao phone, the Nubia NaviX Ultra, will feature 10,667Mbps LPDDR5X memory from ChangXin Memory Technologies (CXMT), marking the first mass production of China-made high-speed LPDDR5X chips. The phone is set for mass production and launch in September.