🔄 Cango Liquidates Entire Bitcoin Holdings to Pivot to AI

**Alphabet has raised $15 billion through a 40-year bond issuance** to finance its artificial intelligence infrastructure expansion. The tech giant secured the funding at a spread of 1.2% over U.S. Treasury bonds. **Key Details:** - Bond term: 40 years - Total amount: $15 billion - Spread: 1.2% over Treasuries - Purpose: AI infrastructure development **Context:** This follows SoftBank's recent $40 billion investment in OpenAI, signaling continued institutional commitment to AI development. The long-term nature of Alphabet's bond offering reflects confidence in sustained AI infrastructure needs over the coming decades. The favorable spread indicates strong investor appetite for Alphabet's debt, despite the extended maturity period.

**Market Maker Technical Issue Impacts ETH Trading** A glitch in market makers' grid trading strategies has caused abnormal price movements in Ethereum ($ETH). This technical malfunction comes shortly after ETH fell below the $2,000 threshold. **What Happened:** - Grid strategy algorithms experienced operational errors - Resulted in unusual price swings for $ETH - Issue affects automated market-making systems **Context:** Grid trading strategies use automated buy and sell orders at predetermined price levels. When these systems malfunction, they can create artificial volatility and distorted price action. The timing is notable as it follows ETH's recent drop below $2,000, potentially amplifying market uncertainty during an already sensitive period for the asset.

**Korean authorities have launched an emergency investigation into Bithumb** following a massive operational error involving 60 trillion won in Bitcoin. **The incident began when a Bithumb employee mistakenly sent 2,000 BTC to users**, triggering a 10% price drop on the exchange. The error has now escalated into a full regulatory probe. **Key developments:** - Employee error resulted in unintended Bitcoin distribution - Exchange experienced significant price volatility - Regulators responding with emergency investigation - Incident raises questions about exchange operational controls

**Nvidia CEO Jensen Huang announced strong AI demand** while revealing that both Anthropic and OpenAI have achieved profitability. He emphasized the need for massive capital expenditure to meet growing AI infrastructure requirements. **Key Points:** - AI demand remains at peak levels according to Huang - Major AI companies Anthropic and OpenAI now profitable - Significant capex investments needed for AI infrastructure - Comes amid Nvidia's gaming chip delays due to memory shortages **Context:** This follows Nvidia's recent partnership announcement with xAI and Saudi Arabia on a 500MW project, signaling continued expansion in AI infrastructure despite supply chain challenges. The profitability milestone for leading AI labs suggests the sector is maturing beyond the research phase into sustainable business models.