推特 · 7552
The founder responded three times. Why is the Gate coin theft case getting more and more dark?

The founder responded three times. Why is the Gate coin theft case getting more and more dark?

Author: Maher, Foresight News Original title: The founder responded several times, why didn't Gate's “PR” community buy it? On August 3, Gate's official Chinese-language Twitter account posted a screenshot of an external database query after coding to try to prove that user @jheioff's personal information had already been seriously leaked from outside the platform, rather than causing security issues due to its own reasons. However, some users in the comments section responded that user privacy was unboxed by Gate, and the impression was too poor. This move quickly escalated the dispute over account security and accountability into a privacy and PR crisis, and became the latest tipping point after the incident continued for nearly a month. This case, which began on July 8, has evolved into a typical centralized exchange trust storm. Users claim that about $1.7 million worth of assets have been stolen, while Gate insists that there are no systemic security breaches. The evidence chains between the two sides are in sharp conflict, and the community continues to raise questions. From breaking the news to the confrontation, the two sides held each other's arguments. On July 8, X user @jheioff publicly posted that he hadn't logged in to his Gate account for a few days, and when he checked again, he found that about $1.7 million in assets had been emptied. This includes 49.96 ETH, 746,475 HSK, and 1565,982 USDT. The user stressed that the account has enabled mobile verification, Google Authenticator, and email verification. The phone did not receive any verification codes during this period, and he never provided a video, handheld ID, or login screen recording. Foresight News previously wrote in “1.7 Million Gate Users Stolen, Has Face Recognition Been Hacked?” The cause and circumstances of the incident are described in detail in the article. One day after the incident unraveled, Gate had a net outflow of about $200 million, according to DeFilLama data. On July 11, in an announcement, Gate apologized for the initial communication attitude, admitting that it “did not put users' feelings first”, and expressed understanding of users' anxiety and acceptance of criticism. At the same time, it continued to assist the police and provide legal resource support, but insisted that there were no platform security risks. Around July 17, the stolen user officially filed a case with the public security authorities. Since then, the two sides have blamed each other over the submission of evidence and the degree of lawyers' involvement and cooperation. The stolen user claimed that Gate repeatedly requested the format of judicial investigation materials, identity verification, etc., causing delays. Gate, on the other hand, said that users have repeatedly refused the intervention of the lawyers' team, focusing on putting pressure on public opinion rather than tracking down hackers, so they decided to directly arrange for lawyers to cooperate with the police. The core controversy, however, is whether authentication and manual review actually fail. The stolen user insisted that the mobile phone verification, Google Authenticator, and email address originally tied to the account were not leaked, that he had never submitted a handheld ID video or live experience, and that the device model did not match Gate's back-office records. Users disclosed surveillance videos in an attempt to prove that they had not operated some of the alleged face recognition periods. The user questioned Gate, saying that the attackers were able to completely reset security items and withdraw 1.7 million US dollars using only forged handheld ID data, live video of someone other than their own, and an inactive Alipay account with no strong binding relationship with Gate. This in itself indicates a problem with the platform's review chain. Gate, on the other hand, presents a completely different chain of evidence. The platform emphasizes that the materials submitted by the applicant are highly consistent, including real-name information, transaction flow, and recordings of key Alipay historical transactions. The Gate technical team believes that Alipay has extremely strict real-time risk control. Changing the device to log in will force multiple verifications. This screen recording can only be recorded by yourself or someone who can access the Alipay account. Combined with multiple notifications and withdrawal delay protection windows within 4 days, Gate concluded that the attackers had deep control over users' external information and device permissions. This was the result of serious information leaks or device control on the user side, rather than a systemic vulnerability in the platform. On August 3, Gate posted a screenshot of a third-party data breach database query, saying that it had obtained evidence of serious external leaks from users (including IMEI), and the lawyer would hand it over directly to the police. After community users responded “out of the box,” Gate clarified that the entire screenshot was coded to prove that it was not an internal leak. Subsequent sensitive materials were only submitted through formal judicial channels. On the same day, Han Lin, founder of Gate, wrote that lawyers have stepped in throughout the process and resolutely cooperated with the police. As long as the government determines that Gate is responsible, double compensation will never be avoided, and 3.4 million US dollars will be linked to the chain...

18d agoburnking
On the eve of SpaceX's first earnings report, Musk was so anxious that he stayed up late to play

On the eve of SpaceX's first earnings report, Musk was so anxious that he stayed up late to play

Author: Ga-6 Recently, in addition to Oracle founder Ellison taking his six-married Chinese wife to shopping in Newport, Los Angeles, the former richest man in the world, Musk, became addicted to “Eildon's Ring” again after SpaceX's stock price fell. This isn't the first time Musk threw himself into a game during a high-pressure period. In 2022, after deciding to buy Twitter, he played “Eildon's Ring” at a Vancouver hotel until 5:30 a.m. This is what Musk's former girlfriend said, and it was later written in “The Biography of Musk.” Musk's anxiety this time came from a sharp drop in SpaceX's stock price. On the first day of listing on June 12, SpaceX closed at $161, surpassing $2.1 trillion in market capitalization, directly among the top six US stocks. Four days later, on June 16, the intraday market hit an all-time high of $225.64, and the market capitalization once reached $2.94 trillion, briefly surpassing Microsoft. Musk's net worth reached 1.45 trillion US dollars that day, making it the richest time humans have recorded. Today, seven weeks later, the stock price has dropped from a high of $225.64 to $114, close to a standstill. The market capitalization has evaporated by about 1.2 trillion dollars, and Musk's personal book has evaporated by more than 750 billion dollars. People close to Musk said that he has recently become super addicted to playing “Eildon's Ring”, and is also looking for employees to help him play games, even during meetings. It is common to slander employees at meetings. He was often late for evening meetings, and even postponed the 8 pm meeting until 2 in the middle of the night and there were people waiting for him. Although we are unable to confirm the truth of these news. However, Musk's anxiety reached its peak this week, as SpaceX's first earnings release this Tuesday coincided with the first round of large-scale lifting of the ban this Thursday. Who undertook the $1.2 trillion evaporation On June 16, SpaceX's four-day market capitalization hit $2.94 trillion. However, the good times didn't last long. SpaceX, which has low circulation and high valuation, experienced 51 days of unilateral decline. As of today, SpaceX's market value has evaporated by about 1.2 trillion dollars. Musk himself is probably the one who has been most affected. He holds approximately 4.8 billion shares of SpaceX, plus 350 million options with an exercise price of $8.40, and approximately 700 million Tesla shares. SPCX fell 16.4% in a single day on June 22, and he lost $152 billion a day. The net worth fell below 1 trillion dollars on July 1, officially losing his status as a trillionaire. The launch of the Starship was suspended on July 16, and another day it lost 45 billion dollars. On July 27, his net worth dropped to $695.7 billion. In five weeks, Musk's net worth evaporated by about 750 billion dollars, and the evaporated market value surpassed the net worth of the second and third richest people in the world combined. And the most “dumb eaters can't tell you how bitter it is” are the millions of US retirement account holders who have never placed a SpaceX purchase order. SpaceX was included in the Nasdaq 100 Index on July 7. According to the old rules, newly listed companies need to wait a three-month “maturing period” before they are eligible. Nasdaq has modified the rules specifically for SpaceX: companies whose total market capitalization exceeds their existing constituents can skip the waiting period. SpaceX was included in the index just 15 trading days after listing, making it the fastest ever NASDAQ 100. J.P. Morgan estimates that the Invesco QQQ Trust Fund alone, which manages about $480 billion and tracks the largest ETF on the NASDAQ 100, generated around $4.3 billion in passive buying demand. Adding up all the products tracking the Nasdaq 100, over 200, managed assets of about $800 billion, and the total passive capital flow was between $22 billion and $27 billion. The vast majority of this money entered the market before and after the market closed on July 6 and opened on July 7. At that time, the SPCX price range was $157 to $161. As of July 22, QQQ held 39.7 million shares of SPCX, with a market capitalization of US$4.57 billion and a combined weight of 0.98%. In other words, millions of 401 (k) holders became SpaceX shareholders at a price of around $160. And their asset allocation added a net loss of 4.9 billion dollars in 2025...

18d agoburnking#SpaceX #Musk
KOSPI melted seven times during the year, and global stock markets are replicating the coin industry script

KOSPI melted seven times during the year, and global stock markets are replicating the coin industry script

Author: Doumaru Original title: Welcome back to your native family. The global stock market is being coin-circled in Seoul on July 13, 2026. Korea Composite Index KOSPI plummeted 8.95% in a single day, breaking for the 7th time in the year. SK Hynix, the “national transport stock” in the eyes of Koreans, fell sharply by 15.37% in a single day. We have not seen such a sharp decline in nearly 20 years. Samsung Electronics also dropped more than 10%. More than 1.2 million leveraged accounts popped up with deposit recovery notifications, and the brokerage system automatically closed 320,000 to 460,000 accounts. What's even more worrisome is that 62% of those who closed out positions were young people aged 20 to 30, some lost their down payment for a wedding house, and others took loans to trade stocks... A young man in his 20s in Busan directly stabbed the blogger because he listened to the loss recommended by a stock YouTuber. In the past, these words were probably used to describe the scene after the coin industry plummeted; now, it is being repeated in the South Korean, American, and Japanese markets after the decline in technology stocks. The sharp rise and fall is only an indication. What really changed was the pricing method. The narrative overweighed the valuation, the leverage amplified sentiment, and social media quickly pushed the consensus to the extreme. The global stock market, especially technology stocks, is becoming more and more like a coin. Return to Native Family “Welcome back to Native Family.” After the sharp decline, traders in the coin industry who switched to the stock market wrote short loss essays one after another. The above comments can be found everywhere in the comment area. The so-called “native family” refers to cryptocurrencies. From the second half of 2025 to the beginning of 2026, a “run away from the native family” drama was staged in the coin industry. A group of KOLs and veteran players who have been struggling in the cryptocurrency market for many years are beginning to lose confidence in the cryptocurrency industry. Bitcoin fluctuated sideways, trading volume was weak, and meme coins were cut back and forth. Many people felt that “this circle is weak” and began to turn their attention to US stocks. This seems like a reasonable choice. Shares have revenue, profit, financial reports, and are regulated by the SEC. Compared to crypto projects that lack cash flow and rely entirely on consensus pricing, US stocks are at least a more mature and secure asset. Not only did traders in the coin industry take away liquidity, but they also carried the trading methods of the past. In the crypto market, they are used to chasing new narratives, finding highly flexible targets, using leverage, and quickly changing positions based on social media sentiment. Since entering the stock market, this method has hardly changed, except that trading partners have switched from tokens to AI, memory chips, and leveraged ETFs, and achieved great results over and over again. Storage stocks soon became the new collective consensus. The logic is not complicated: AI servers require more high-bandwidth memory, HBM is in short supply, and storage prices are rising. Naturally, Micron, Samsung Electronics, and SK Hynix have become the most direct “sellers”. Brother Sun's phrase “never lacking storage” is even more deeply rooted in the hearts of the people. Many crypto KOLs have changed and started talking about US stocks, storage cycles, and AI capital expenses. Doubling products such as SK Hynix is also used as a “more efficient” betting tool than ordinary stocks. Until the market reversed in July. Instead, Bitcoin has become a “low volatility asset”. How long will it take to drop in half from the top? It took 268 days for Bitcoin and 169 days for silver to complete a similar retracement. In contrast, it only took 36 days for SanDisk to drop about 55%, and it only took 34 days for SK Hynix to drop about 53%. Also, it was a “backlog”. Bitcoin was used for almost nine months, and storage stocks only used for over a month. This is exactly what is strange about this round of the market: in the past, investors feared that Bitcoin would soar and fall within a few days, while stocks relied on profits and slow valuation adjustments; now, some tech stocks are completing a complete bubble burst in a shorter period of time than cryptocurrencies. Very counterintuitive. Compared to some tech stocks, Bitcoin is becoming relatively stable. According to Carson Wealth Management statistics, Bitcoin's historical volatility in 2025 was about 42%, with a maximum retracement of about 32%; during the same period, Tesla's volatility was about 63%, the maximum retracement was 48%, Nvidia's volatility was about 50%, and the maximum retracement was 37%. Bitcoin is still a high-risk asset, but some big tech stocks are more volatile. In its 2026 outlook, Bitwise even predicted that Bitcoin's overall volatility may continue to be lower than Nvidia. So the current situation is quite absurd: Bitcoin is becoming more and more like technology stocks, but technology stocks are becoming more and more like Bitcoin. There is an old saying in the coin industry when narratives become valuation anchors; speculating on coins is speculating on narratives. Global tech stocks in 2026 are turning this statement into reality. AI is certainly not air, Nvidia...

23d agoburnking#KOSPI #stocks

America's top three closed-source AI giants OpenAI, Anthropic, and Google have yet to sign a joint open letter from Hwang In-hoon

In comparison, Hwang In-hoon posted his first tweet on the X (original Twitter) platform with a joint open letter entitled “Open Weights and America's Leadership in AI”. However, up to now, OpenAI, Anthropic, and Google, the three major closed source cutting-edge AI laboratories in the US, have not signed the joint open letter. More than 20 companies that have co-signed include Nvidia, Meta, Microsoft, Palantir, CrowdStrike, IBM, ServiceNow, and Hugging Face, Mistral AI, a16z, Y Combinator, Perplexity, etc. According to reports, the open letter argues that “AI distillation (AI distillation)” technology should not be restricted, and that the standard for measuring America's AI leadership is not the strength of a single cutting-edge model, but whether it can build a stable and open ecosystem that penetrates all industries. The open weighting model is the cornerstone of this ecosystem.

27d ago

Jack Dorsey's Block launches Buzz, a team collaboration platform to place humans and AI agents in the same conversation space

Comparing the news, Twitter co-founder Jack Dorsey's Block officially released Buzz, a team-oriented group chat and collaboration platform, putting humans and AI agents in the same conversation space. Dorsey says the Buzz model is unrelated, decentralized, self-sovereign, and completely open source. Buzz's interface is similar to Slack, but it has built-in AI agent functionality and integrates GitHub project management capabilities in the same window, integrating multiple workflows into a single workspace. Since it is completely open source, developers can obtain the complete source code, build their own functions and deploy instances according to the team's specific needs and workflows, and achieve deep customization. Currently, team collaboration tools are undergoing a structural shift from person-to-person collaboration to human-AI agent hybrid work, and Buzz is trying to seize this migration window with an open ecosystem.

31d ago

RootData fully opens character data, and over 20,000 character data has been integrated into Skill

Comparatively, the Web3 asset data platform RootData has now fully opened up its character data, added data on current and former team members to its project search function in Skills published on Clawhub, added new job dynamic data in the secret field (covering 200 recent entry/exit trends), and supports querying the introduction, links, and jobs of more than 20,000 people in the cryptographic field. All data can be recalled free of charge by AI agents. RootData has been tracking tens of thousands of pieces of LinkedIn and Twitter data for a long time, and has maintained the industry's richest and most timely database of people to meet users' more detailed information needs and reduce industry information barriers. RootData said that through this full opening, it hopes to help more users quickly find key talents, gain insight into industry talent flow trends, and provide efficient data support for Web3 project recruitment, investment decisions and industry research.

43d ago
Buy AI and stop following the trend! People who really make a lot of money only look at this “hidden invoice”

Buy AI and stop following the trend! People who really make a lot of money only look at this “hidden invoice”

Author: Danny Original title: To those ordinary people with empty AI positions: You think you're late — in fact, you just don't have your own worldview Write to ordinary people with empty AI positions: You think you're late — in fact, you just don't have your own worldview” What to do? I haven't made any money from AI, so I won't be able to do it until I get in the car. “This is probably the voice in your heart when you opened this post. NVIDIA has increased tenfold in three years. The number of optical module leaders has increased 17 times a year. Open the news and every article talks about AI. Colleagues are showing off their holdings. The WeChat group is sharing “the next ten times the share”. You have an empty position. You're anxious. You open your account and hang your finger over the “buy” button. I'd like to ask you a question first - why would you want to buy it? If your answer is “AI is a big trend” and “some KOL is calling” — that's someone else's judgment, not yours; if your answer is “my friend earns money, I want to make money” — that's jealousy, not an investment; if your answer is “it's too late to buy” — that's FOMO, not analysis. Your real problem isn't 'late'. Your problem is that you don't have your own worldview. Sounds abstract. Let me be clear in a specific way — why this question is 100 times more important than “what stock to buy”. 1. Where do 99% of people lose? Open any financial platform. All discussions revolved around one question: what to buy. “Can NVIDIA continue to rise? ““Do you want to chase the optical module? ““What do you think of the robotics section? “The questions themselves are wrong. They assume one thing — you already know that AI/robotics/optical communications are in the right direction. And this is exactly the part that should be thought of independently the most, but skipped by 99% of people. What's the cost of skipping? When your judgment is right, you don't know why — so you don't know when to leave. You buy it on NVIDIA's $80 recommendation from a KOL. You can't bear to sell it to $140 because it's “long-term bullish”. If you go up to $200, you want to increase your position because “the momentum is strong”. It drops to $150 and you're confused, “the story is still there”. If it falls to $100, you sell in a panic, “did you read it wrong”. When your judgment is wrong, you don't know why — so you keep losing money. You bought an AI concept stock for $50. If it falls to $30, you don't sell, “AI has been the main line for ten years”. It drops to $20 and you increase your position, “it's cheaper now”. If you drop to $10, you confess defeat. After that, this stock never returned to your cost. What these two situations have in common: you never have your own frame of judgment. You're just listening to different people and doing different things at different times. That's the price of a rented worldview. 2. What is “one's own worldview” A worldview is not watching the news. A worldview answers a few essential questions: (For example) What will be the biggest change in human society in the next 5-10 years? Will the energy structure be restructured? Will computational costs drop by another order of magnitude? Will the labor market be restructured? Where are the physical constraints of these changes? Is there enough electricity? Are there enough minerals? Is there enough talent? How will the money flow? Who makes money from it? Who is being disrupted? Who is the real bottleneck? When you can answer these questions, stock selection becomes easy — because you already know where the money is going, you just need to find the floodgates in that river. More importantly — when the market fluctuates, you don't panic and don't ask people everywhere. Because your judgment doesn't depend on “whether it will rise or fall tomorrow”, but on “what the world will look like in 5 years”. Buffett, Munger, and Dario are able to overcome bulls and bears, not because they are smarter, but because their worldview was created by themselves, not fed by the market. 3. Two paths: self-building vs. following path A: It is difficult to establish your own worldview. It requires you to read a lot across disciplines, track first-hand sources of information, think independently for a long time, and accept that 30% of judgments will be wrong. The vast majority of ordinary people don't have this reserve of time, energy, knowledge...

45d ago谢伟伦#AI #AI topics #Anthropic #OpenAI #US stocks
Sorting out on-chain trading tools, how to find the next “ANSEM” faster?

Sorting out on-chain trading tools, how to find the next “ANSEM” faster?

Article: Sanqing, Foresight NewsSolana broke out of another Express Token on the chain, ANSEM, with a market capitalization of over 100 million in about a day, and the chain hasn't been this busy for a long time. When it first launched in mid-June, it was no different from hundreds of SGD a day, until well-known trader Ansem (@blknoiz06) tweeted that he wanted to distribute his creator fees to the community, and the “indirect platform” narrative instantly exploded, and money poured in. This kind of token isn't available every day, but as long as the Meme market is still around, similar opportunities will exist. After several years of iteration, on-chain trading tools are mature enough in all segments. However, the actual operation of most players remains in a state of extreme “bulk”. I saw a new contract on “cx” on the community or Twitter, open the website to check the history of Pixiu and Dev, and then open the wallet search address to trade... In the meme market, when you confirm that you are safe and ready to place an order, the first smart money or “big discount” to enter the market is often ready to be sold. Go through the addresses on the chain that have dominated the profit list for a long time. Basically, they all have a high transaction frequency and huge transaction volume. The entire operation has long since solidified into an assembly line. It's really hard for the average player to achieve that kind of “scientist” level of fully automated crushing, but we at least used a ready-made mature platform to create our own workflow. We don't want to be able to wipe out the profits of the market like the top players, but we do our best to lose and earn more with less. Scan the chain and discover that now there are also a large number of people who are swiping through Twitter and social media to find new targets. It's not that this gameplay doesn't work, but it's at least a few minutes short between a message being changed, being discovered, tweeted, and then viewed by you. In Meme, a casino where money is calculated by the second, when you see the tweets, all the smart money that entered the market early is ready to be destroyed. Birdeye - A real-time data desk on Solana. Prices, transactions, trend lists and new currency lists are refreshed in real time, and also covers multiple chains, and is a starting point for many traders to watch the market. DEX Screener - the main theme is “all”. There are more than 60 chains. For multi-chain players, this is a basic monitor that never shuts down, and you can cut through and watch as soon as there is wind and wind. With DexTools, you can also explore the history and position structure of a single currency in more detail. However, these tools have a common blind spot. Although the chain and data coverage are quite comprehensive, it is not possible to intuitively see what addresses are being traded. GMGN - If the first two tools solved “seeing,” what GGGN wanted to solve was “seeing before others.” The Trench Dashboard arranges the tokens according to “Newly Created/ Graduated/Opened”, and each token will directly indicate whether smart money has been purchased; Convergence Trench also further combines the new coins of the Solana and BNB Chain chains on the same page to track and trade with shortcuts, eliminating the loss of switching back and forth between multiple tools. For opportunities such as ANSEM that rely on narrative catalysts for rapid growth, the first time a smart money signal appears is often more valuable than any analysis. Contract verification and chip analysis The vast majority of memes now come from standardized launchers, such as Pump.fun on Solana, Four.Meme on BSC, Clanker on Base, etc. The contract itself doesn't have many tricks; what you really need to prevent is the behavior of Dev and insiders: opening bundles in advance, Insider Group control, and liquidity can be withdrawn at any time. GMGN — Its token detail page is one of the most information-dense tools. The right panel focuses on showing the share of Top 10 holdings, the share of DEV holdings, mouse barrels, fishing wallets, and bundled transactions, as well as the four security states of non-pirate, open source, abstention, and locked, the composition of the first batch of buyers and snipers of the SGD, as well as developers' wallet addresses, funding sources, and other issued tokens. In terms of chip structure, GMGN directly incorporates bubble maps. Click “Chip Analysis” on the details page to view address associations and suspected control panels, eliminating the step of opening Bubble Maps separately. Bigger bubbles mean more positions. The connection indicates that there is a connection between addresses. If several big bubbles are strung together, you can tell at a glance whether a group of people control the board. Of course, each chain also has its own special tools worth having. RugCheck - Solana standard, run risk score, Insider Net...

53d agoForesight News
After the metaverse burns 90 billion dollars, Meta turned its bets on predicting the market: can the traffic advantage fill the trust gap?

After the metaverse burns 90 billion dollars, Meta turned its bets on predicting the market: can the traffic advantage fill the trust gap?

Article: Gino Matos Compiled by: Luffy, Foresight News Original title: Can Meta Follow the Trend and Enter the Predictive Market to Avoid the Old Path of Metaverse Failure? TL; DR “The New York Times” reports that Meta formed a small team to develop an internal point-based prediction application codenamed Arena. Users can bet on the results of politics, sports, and global current affairs. The forecast market has shown real demand. With 3.56 billion daily users, Meta is expected to push the niche racetrack to the mass market. But Meta's crisis of trust, combined with elections and disinformation censorship, could make Arena a regulatory target even before it grows in size. The New York Times reported on June 23 that Mark Zuckerberg took the lead in forming a special team to develop the market prediction application Arena. Users can bet on the results of political elections, sporting events, and international events through platform credits. This company, which once lost nearly $90 billion due to the metaverse's name change and its Reality Labs subsidiary, has now turned its head to the forecasting market. This track is actually in high demand and a formed user base, but the regulatory rules are intricate. This transformation is probably Meta's smartest strategic adjustment, or it may be a repetition of past huge costly failures. Huge bills left by the metaverse In October 2021, Facebook officially changed its name to Meta. Zuckerberg wrote that the company's core goal was to “build a metaverse,” and predicted that the metaverse would cover 1 billion users within ten years. Reality Labs, the division that carries this vision, continues to grow in losses: operating losses of $17.7 billion in 2024 and $19.2 billion in 2025, with cumulative losses approaching $90 billion. Meta revealed to investors that the scale of losses in the sector in 2026 may be the same as in 2025. Horizon Worlds, its flagship social VR platform, fell below 200,000 monthly active users in 2022, far below the initial target of 500,000. Meta then lowered its expectations again and plans to gradually shut down the VR version in 2026. Predicting why the market is a completely different track In 2026, Kalshi and Polymarket's two leading platforms have a combined monthly trading volume of about US$24 billion, and industry institutions predict that the market transaction volume will exceed US$130 billion for the whole year. Robinhood launched the Forecast Market Zone in 2025. Yingtou Securities also integrated event contracts into the trading platform, and the Golden Globe Awards ceremony even introduced an interactive prediction market session. Bernstein's April research report estimates that the track's annual transaction scale is expected to impact $1 trillion in 2030. Meta has always been good at replicating popular products and relying on huge traffic to overtake curves: after Snapchat launched limited-time updates, Instagram Stories were launched; Twitter occupied the social graphics circuit for ten years, Meta Threads was launched; after TikTok became popular for short videos, Meta launched Reels. As of April, the daily activity of all Meta products reached 3.56 billion, and the volume of traffic overwhelmed all existing forecasting market platforms. Arena uses a credit design to continue Meta's consistent strategy: capture users' existing behavioral needs, embed its own traffic ecosystem, and rely on mass distribution to make up for the lack of product originality. Building a prediction market requires only software, information flow, account systems, content review, and compliance systems. Some scenarios can be connected to licensed partners; however, the metaverse requires customized hardware, immersive content, virtual images, and an exclusive operating environment, and it will take years to cultivate user usage habits. Reality Labs' huge losses prove that creating a new track model out of thin air is extremely expensive. Comparing the core dimensions of the metaverse and prediction market Arena is not Meta's first test of the prediction market. The last product was shut down as early as the beginning of the 2020 pandemic. Meta launched the point-based mass forecasting application Forecast, which focused on predicting current events, but shut down in 2022. At the time, Polymarket had yet to explode in the 2024 US presidential election, Kalshi did not win the Federal Commodity Futures Trading Commission (CFTC) election contract lawsuit, and the industry's annual trading volume had not exceeded 50 billion US dollars. Meta is about to enter...

58d agoburnking#Meta #Predicting the market

Sovra closes $2 million pre-seed financing

According to Sovra's official Twitter account, Sovra has completed a $2 million pre-seed financing led by Pharsalus Capital. Sovra is a self-hosted fintech platform that mainly targets the Middle East and North Africa and provides users with USDC-based global digital dollar accounts. The platform enables users to hold, send, spend, and earn revenue in digital dollars while maintaining control over their funds without relying on traditional banks or custodians.

60d ago