Alibaba has priced a HK$80 billion (about $10.2 billion) new share placement, with proceeds earmarked entirely for full-stack AI capabilities and infrastructure. The deal drew nearly 3x oversubscription, exceeding HK$200 billion in demand, with sovereign wealth funds and long-term investors taking over 40% of the allocation. Sovereign funds from the Middle East, Europe, and Asia participated actively, reflecting strong global confidence in Alibaba's AI roadmap. CICC, HSBC, Morgan Stanley, and UBS acted as joint global coordinators and bookrunners.

South Korea's largest exchange Upbit listed LIT in its KRW market, causing a brief price spike that pressured the largest short position on Hyperliquid. The whale holding a 2.528 million LIT short (worth about $8.9 million at entry price $1.30) urgently added $2.5 million in margin to avoid liquidation, now sitting on an unrealized loss of $5.6 million. The position's liquidation price stands at $5.78, with total margin now at $7.16 million.

Institutional custodian Ceffu, associated with Binance, deposited 136.54 million USDC to Binance and then withdrew 1,524 BTC (worth $117.89 million) and 59,484 ETH (worth $145.92 million). The rapid movement suggests active portfolio rebalancing or liquidity management by institutional clients. This follows Ceffu's extraction of 120 million USDC from an Ethena custody wallet over the past day, highlighting significant stablecoin flows among Asian-linked venues.

Hong Kong's Financial Secretary Paul Chan said the government is driving AI adoption across all sectors, with AI-related IPO fundraising reaching nearly HK$100 billion from December to May, about 55% of the total. Strong global demand for AI products has boosted Hong Kong's exports with high double-digit growth for consecutive quarters. Hang Seng Indexes has added several AI companies to its benchmarks, reflecting the sector's growing economic weight.

Binance co-founder Yi He warned that CZ does not use WeChat, and any "Binance Mall" or "CZ" groups on the platform are scams. She urged users to be vigilant against impersonation schemes. The warning comes amid a rise in social engineering attacks targeting crypto users in Chinese-speaking communities. Separately, CZ revealed he was the second-largest anonymous donor to Gigglee via a publicly labeled address.

Data from South Korea's Financial Supervisory Service shows the country's five major exchanges held 6,590 corporate accounts as of end-July, signaling accelerating institutional adoption. Bithumb led with 3,280 accounts, followed by Upbit operator Dunamu with 2,086, together accounting for 81.4% of the total. Korbit, Coinone, and Gopax held 620, 539, and 65 accounts respectively.

Chinese robotics company Unitree Technology saw its stock drop over 10% to close at 603.08 yuan, erasing more than 20 billion yuan ($2.8 billion) in market value in a single day. The decline comes after a volatile post-IPO period; since its debut, the company has shed over 200 billion yuan from its opening valuation. The sharp sell-off reflects cooling sentiment toward high-flying AI and robotics listings in China.

A user lost about 550,000 USDC after clicking a sponsored Google ad leading to a counterfeit Hyperliquid website, security firm Salus reported. The attack used infrastructure linked to the Inferno "drainer-as-a-service" ecosystem, which offers malicious scripts, automated fund transfers, and cross-chain laundering via Telegram. The phishing group purchased ads, deployed the fake portal, and provided the final receiving address; funds were automatically split after theft.

Tronscan data shows the total number of accounts on the TRON network has officially surpassed 400 million. The milestone underscores TRON's continued dominance in stablecoin transfers and consumer payments, particularly in Asia. The network has seen steady growth despite broader market fluctuations, driven by high throughput and low fees.

Binance founder CZ announced he will attend the EASY Residency Season 4 Demo Day in Bhutan next week. Applications for Season 5 are now open until September 14, seeking projects in programmable capital, AI infrastructure, AI interfaces, and AI x biotech. The residency is under YZi Labs, CZ's investment vehicle focused on early-stage web3 and AI startups.