The founder of ElizaOS accuses the founder of daos.fun of insider trading on AI16Z, profiting approximately $6.6 million.
Author: TechFlow
Yesterday’s Market Dynamics
CZ Responds to World Gold Council CEO Claiming Bitcoin Will Eventually Go to Zero: Many Have Misjudged Cryptocurrency
August 16, the CEO of the World Gold Council recently stated that he personally believes Bitcoin will eventually go to “zero,” stating: “My personal view on Bitcoin is that it will go to zero.”
In response, Binance co-founder CZ posted that many people have made wrong judgments about cryptocurrency in the past, but understanding this field takes time, and stated: “I also cannot be 100% sure that I am correct, after all, we are all human.”
Analysis suggests that in recent years, the view that Bitcoin will “go to zero” has long existed. Critics mainly argue that it lacks the cash flow support of traditional assets and has excessive price volatility; while supporters believe that Bitcoin possesses decentralization, scarcity, and digital value storage attributes, and may become part of the global financial system in the future.
Tether CEO: The Company Is Not Developing Its Own Blockchain, Nor Are There Related Plans
Tether CEO Paolo Ardoino stated that Tether is not developing its own blockchain, nor are there related plans.
Ardoino stated that Tether will continue to remain chain-neutral and support multiple blockchains as transmission networks for USDT.
Previously, CoinMarketCap analyzed that stablecoin companies such as Stripe, Circle, and Tether were building exclusive blockchains respectively. Ardoino’s response this time denied the claim that Tether is developing its own blockchain.
ElizaOS Founder Accuses daos.fun Founder of Trading AI16Z Using Insider Information, Profiting Approximately $6.6 Million
August 16, ElizaOS founder Shaw posted accusing daos.fun founder baoskee of trading using internal information during the AI16Z project renaming and migration process, and profiting approximately $6.6 million by selling AI16Z.
Shaw stated that in June 2025, the project team promised to launch a Snapshot vote for the community to decide whether to rename the project. Previously, a16z had requested the project to change its name to avoid potential trademark disputes.
Shaw claimed that while the voting mechanism was delayed and not launched as promised, baoskee was already aware of the renaming pressure the project faced and subsequent migration arrangements, and sold all AI16Z in the daos.fun execution wallet, followed by continuous selling before the project migrated to ElizaOS, causing the token price to fall. Shaw believes that baoskee possessed information at the time that other holders did not.
In response, baoskee denied the relevant accusations, stating that the Snapshot vote was actually launched, and indicated that daos.fun had increased and locked over $1 million worth of AI16Z liquidity at its own expense.
baoskee also counter-accused Shaw of having serious issues in project operations, token migration, and the use of development funds.
Currently, there are significant discrepancies between the two parties’ statements, and the relevant insider trading accusations have not been independently verified. Shaw stated that relevant Solscan on-chain records will be attached.
CZ: Will Deactivate Public Address to Avoid Operations Being Overinterpreted, BNB and “Binance Life” in Address Will Be Donated to Giggle Academy
According to the “Financial Times,” some existing Anthropic investors expect that if the company launches an IPO as early as October this year, the valuation could exceed $2 trillion, doubling its valuation of approximately $965 billion in May this year.
Interviewed investors believe that the growth in Claude demand and the company’s rapid revenue increase are the main factors driving the upward revision of valuation expectations.
Anthropic previously disclosed in May that annualized revenue had exceeded $47 billion, with some investors expecting it to rise to $100 billion to $120 billion by the end of this year; one investor calculated based on approximately 30 times revenue multiple, believing its valuation could reach up to $3 trillion.
However, the above valuations are all investor predictions, and Anthropic management has not yet determined an IPO valuation target.
SafePal Order Tracking Plugin Vulnerability Leads to Information Leak of Nearly 40,000 Users
August 16, SafePal stated that its order tracking plugin has a security vulnerability, leading to unauthorized access to some customer information.
This incident involves approximately 39,798 users, and the affected users are customers who placed orders between March 2, 2025 and April 11, 2026.
The leaked information includes names, emails, shipping addresses, phone numbers, and purchase details, but does not involve mnemonic phrases, private keys, wallet passwords, bank card information, or government-issued ID numbers.
SafePal stated that the relevant vulnerability has currently been fixed, and affected users have been notified one by one. At the same time, the official inquiry page is online, and users can confirm whether they are affected through the order number and shipping country.
Well-known Trader: If Bitcoin Stands Above $69,500, It May Officially Confirm a Shift to Bull Market
Well-known trader Killa posted stating that Bitcoin has currently returned above the 0.8 level of the Mayer Multiple, after the price previously fell below this position.
Killa stated that in 2022, BTC also briefly fell below this level, and subsequently reclaimed it.
Killa stated that the real confirmation signal in 2022 came from Bitcoin reclaiming the 200-day moving average, after which the bull market began. Currently, BTC’s 200-day moving average is located at approximately $69,500.
He believes that next, one only needs to wait for Bitcoin to break through and stand firmly above the 200-day moving average again; once this action is completed, the market can be viewed as officially shifting to a bull market.
SK Hynix Leveraged ETF Investors Trapped at High Levels Find It Hard to Break Even: All Lost Over 76%, Need Nearly 326% Rise to Recover
According to Korean media Daum, although SK Hynix and Samsung Electronics stock prices have rebounded recently, investors who bought near the highs at the end of June still face huge losses.
Korea Exchange data shows that for investors who bought at the highs on June 25, the decline of SK Hynix’s 7 leveraged ETFs reached -75.98% to -76.75%, with an average loss of 76.51%; Samsung Electronics’ 7 single-stock leveraged ETFs had a cumulative return rate compared to that day of -51.64% to -52.76%, with an average loss of 52.25%.
If investors had invested 1 million Korean won respectively at that time, currently SK Hynix leveraged ETFs are left with only about 235,000 Korean won; while Samsung Electronics leveraged ETFs are left with only about 478,000 Korean won.
Due to the non-linear yield characteristics of leveraged ETFs, the difficulty of breaking even after losses is far higher than the decline itself.
Data shows that Samsung Electronics leveraged ETFs need to rise about 109.4% to recover principal, while SK Hynix leveraged ETFs need to rise about 325.7%.
That is to say, a 50% loss requires a 100% rise to break even, and a 75% loss requires a 300% rise.
Analysis points out that single-stock leveraged ETFs usually track 2 times the single-day return rate of the underlying asset, not simply corresponding to the stock price increase.
Due to the daily recalculation of leverage ratios, continuous volatility will generate “volatility decay,” so even if the underlying stock price returns to previous levels, ETF investors may not necessarily be able to fully recover principal.
Galaxy Research: Probability of CLARITY Act Passing This Year Drops to 10%
According to News.bitcoin, Galaxy Research has downgraded the probability of the “CLARITY Act” passing this year from 75% to 10%.
Galaxy Research stated that the ethical agreement not yet reached, the decline in Republican support caused by bank lobbying, and only two to three weeks of legislative session time in September may all become major factors hindering the bill from passing this year.
The “CLARITY Act” aims to establish a federal regulatory framework for the U.S. digital asset market, but currently there are still multiple disagreements between the two parties, and the subsequent promotion of the bill still faces significant uncertainty.
Bitcoin Miner Holdings Drop to 1.1919 Million, Lowest Since May 31
August 16, according to Digital Asset, as of August 15, Bitcoin miner holdings dropped to approximately 1.1919 million BTC, a decrease of 885 coins compared to one week ago, the lowest level since May 31.
A decline in miner holdings usually means that some miners use the BTC they hold for purposes such as selling, loans, or mortgages.
During the same period, Blockchain.com data shows that the 7-day moving average of Bitcoin’s total network hashrate is approximately 895 million TH/s, a decrease of about 25.48 million TH/s compared to one week ago.
In addition, the Puell Multiple is currently 0.75, basically flat compared to one week ago, and still remains in a historical range that is neither significantly overheated nor extremely undervalued.
Today’s Market Conditions
Recommended Reading
Anthropic Researcher Debates Wall Street AI Big Short: Is AI Too Dangerous to Decentralize, or Too Dangerous to Centralize?
https://www.techflowpost.com/article/33289
Anthropic researchers and Wall Street investors engaged in a fierce debate over whether AI should be “centrally controlled” or “decentralize power,” with the core disagreement being: the more dangerous AI is, does it need more centralized management, or should power concentration be avoided more?
Banks Stuff Crypto Trading into Their Own Apps, Exchanges Are Retreating to the Backend of the Financial System
http://techflowpost.com/article/33287
August 14, Israel’s largest bank Bank Leumi announced a partnership with Galaxy Digital, planning to allow 2.5 million retail customers to directly buy, sell, and hold BTC, ETH, and SOL within the bank’s own Leumi Trade app.
Galaxy provides trading execution and custody backend, expected to launch in early 2027.
When banks start stuffing crypto trading into their own apps, crypto exchanges begin to change from “user-facing brands” to “pipelines hidden behind banks.”
Morgan Stanley Report Interpretation: CoreWeave Adds 500MW Capacity in Single Quarter Setting Record, High Debt and Customer Concentration Suppress Valuation
https://www.techflowpost.com/article/33281
CoreWeave achieved simultaneous expansion of capacity and revenue in the second quarter of 2026.
The company added net active power of 500MW in a single quarter, exceeding any quarter in history, and year-over-year exceeding three times the same period last year.
Management reiterated the goal of reaching at least 8GW before 2030.
Morgan Stanley maintained an Equal-weight (in line with the market) rating and $99 target price in the CoreWeave Q2 earnings report released in August, believing that this GPU cloud service provider’s execution capability in the generative AI (GenAI) data center field is accelerating, but high debt burden and customer concentration remain key constraints preventing valuation breakthrough.
Morgan Stanley summarized this judgment as: “CoreWeave established a business scale of over $25 billion within 5 years, which is unheard of in the software industry, but its lack of solid operational and financial history, high debt burden, and significant customer concentration are equally cannot be ignored.”
Kimi K3 Crypto Circle Diagnosis: Scanned 501 Bitcoin Projects in Two Weeks, 1280 High-Risk Hazards
https://www.techflowpost.com/article/33276
A “Bitcoin Red Team” composed of volunteers used Moonshot AI’s Kimi K3 to scan 501 Bitcoin open-source projects in two weeks, recording 7958 findings, of which 1280 were rated as high-risk or severe.
The reason why a Chinese model did this is because OpenAI and Anthropic refused these defenders on security grounds.
If your coins are in a wallet or node software that hasn’t been updated for many years, this article is worth reading.
August 13, Bitcoin Red Team member and Cashu protocol founder Calle summarized the phased conclusions of this operation on X, and the tweet received nearly 260,000 views.
His original words were very straightforward: “Decades of open-source code collided with two weeks of Kimi K3, and the result is that everything is broken, Bitcoin is burning.”
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