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OTC Trading is live on Aster. If you already have a counterparty and a price in mind, you can now execute the trade on Aster. Agree the terms directly, create a Deal Code, and share it with your counterparty to accept. Once both sides sign, the positions open at the agreed price without touching the order book. Starting with BTCUSDT. More markets to follow. Full details:
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One step closer to 4-8x faster Ethereum finality! It took some time and lots of tokens, but we now have a formally verified proposal for a decoupled consensus protocol in I* (a future Ethereum upgrade)! Not yet a full spec (up next), but it includes all the key consensus-relevant details to become one. Since Ethereum aspires to be live without most of the stake online, the protocol involves many more components than a normal BFT protocol, and its correctness involves much more than standard safety and liveness. Those nuanced properties are now verified! What's more, I came away convinced that all protocol design will involve AI-assisted Formal Verification in the future, both for correctness and iteration speed. The work wasn't limited to just: Design the protocol -> Formally verify it Instead, the loop became more like: Design -> Formal Model -> Find exactly what breaks and why -> Redesign it. For a fairly complicated protocol like this one, I think having the Lean model be part of the design loop played a big role in accelerating the process. A future with agents paired with formal models is a superpower for Ethereum development, because they can then use those models to find exactly where an argument breaks down, formalize counterexamples, test proposed fixes, iterate on the protocol. Many details that would slip under the radar when asking agents (and indeed, humans) can now be specified exactly and checked by the Lean kernel. This then forces agents to be more precise and lets them make verifiable progress on their own. It's been incredible to see this play out, seeing agents find gaps and propose protocol changes to fix them. In other words, autoresearch can speed up protocol design, formal verification is here to stay, and Ethereum Finality will get faster.
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Pay someone onchain and they can scroll your whole financial life. Every balance, every counterparty, forever. flips that. Pay confidentially from the account you already have: they get the money, not your history.
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CZ said it better than anyone: "The currency for AI is crypto. AI is not gonna swipe a card, enter an SMS code. That doesn't work for AI." That was our conversation at Token2049 in Dubai last year. Every month since has made it truer... more agents arriving, all needing to hold value, receive value and move it without a person in the loop. Think about what those payments actually look like. Instant and tiny, thousands of them a second, between counterparties that are not human. Two day bank settlement doesn't work for that. Card rails don't work for that.  Theres only one set of rails on earth built for that. Its staggeringly clear.
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Elon Musk explains why you should never charge an electric car to 100% The last 20% is not a small ask. Elon: "getting from 80 to 100, it takes about as much time as getting from 0 to 80" It runs backwards from how people fuel a car. Elon: "it's a little counterintuitive, because for a gasoline car you would fill it up" Inside the battery, ions are looking for somewhere to go. Elon: "the lithium ions are trying to find a parking space" Elon: "when the parking lot's empty, they can zip right in there and find a spot, it's easy" Elon: "as the parking lot gets full, just like trying to find a parking space at a mall, you have to hunt around for a spot" So on a road trip the rule flips. Elon: "you actually want to charge to about 80%, and then run it down all the way to 10%, or less"
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The moment disaster struck. Video from Immigration office at Nepal border just before 11 am today shows the flash flood. PM Modi has spoken to his Nepal counterpart and extended humanitarian and relief assistance. So far 384 travellers, including 105 Indians reported missing
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NEW: Ninja made a smarter Brita for the countertop. HydraSense is an intelligent water filtration system built to clean tap water faster, track filter life automatically, and keep the minerals that make water taste good. -Filters 80+ contaminants, including PFAS, lead, microplastics, and pharmaceuticals -Dispenses filtered water 6x faster than a Brita standard filter -Touchscreen tracks water usage and filter life in real time -Preserves natural minerals and electrolytes instead of stripping everything out -120-gallon filter lasts about 6 months -96 oz countertop reservoir requires no plumbing or installation Priced at $199.99.
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A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY. Here's a full recap: 1. The U.S. reportedly offered Iran a deal to halt the siege and lift sanctions in exchange for reopening the Strait of Hormuz and ending proxy attacks, according to Al Arabiya. Axios also reports that Rubio told several foreign counterparts the U.S. does not plan new strikes on Iran for now, with pressure shifting toward the naval blockade and new sanctions campaign instead. Crude Oil fell 4% and the 10-year treasury bond fell from 4.72% to 4.62%. 2. Global physical gold-backed ETFs $GLD attracted $6.4B of inflows last week, their largest weekly intake since January and the 3rd-largest weekly inflow on record. North America led with $4.4B, followed by Europe at $1.7B and Asia at $300M. This marked the 7th straight week of inflows, with global gold ETFs pulling in $16.4B over that stretch. Total AUM in global gold ETFs rose by $33B last week to $615B, the highest level since the second week of May. 3. Intuit $INTU reported Q4’26 revenue of $4.4B, beating estimates of $4.27B and up 14% YoY. Adjusted EPS came in at $4.03 versus $3.58 expected. Global Business Solutions revenue rose 14% YoY to $3.4B, the Online Ecosystem grew 17% YoY to $2.6B, Consumer revenue increased 14% YoY to $930M, and Credit Karma revenue rose 16% YoY to $743M. For FY27, Intuit guided revenue to $23.3B–$23.5B versus $23.72B expected, while adjusted EPS guidance of $22.88–$23.12 came in well below the $27.32 estimate. The company also raised its dividend 15% YoY to $1.38/share, bought back $5.5B of stock, and has $7.9B remaining on its authorization. Management said its strategy is to win as an AI-driven expert platform while staying disciplined on investments and scaling its big bets. 4. President Trump said the U.S. Navy has removed and/or detonated all mines from international waters in the Strait of Hormuz. He said Iran has been notified that any ship or boat placing new mines will be “immediately and systematically destroyed.” Trump added that Space Force is monitoring every square inch of the Strait, along with Pickaxe Mountain and the three previously destroyed nuclear sites, and said a “Zero Tolerance” policy on mine placement is now in full effect. 5. Canada is responding to U.S. tariffs with new tariffs of its own. The country is raising steel tariffs to 50% from 25%, while roughly 700 products will face new tariff rates of 15%, 25%, and 50%. The measures are set to take effect on September 8, marking another escalation in the U.S.–Canada trade dispute. 6. Anthropic is expected to tell IPO investors its total addressable market exceeds $30T, topping SpaceX’s $28.5T estimate, according to WSJ. The figure represents the potential value of work Anthropic believes AI models could eventually perform, not a direct revenue forecast. Anthropic generated $11.6B in Q2 revenue and could seek to raise as much as $100B at roughly a $2T valuation. IPO documents are expected within weeks, potentially setting up a September or early October listing. 7. OpenAI’s data-center head Chris Malone left the company last week, according to WSJ. Malone joined in March 2025 shortly after Stargate was announced and played a key role overseeing OpenAI’s massive data-center buildout. He previously led data-center strategy at Meta and earlier worked on data-center technology at Google. The departure comes just weeks after OpenAI also replaced its chief revenue officer, adding another senior leadership change as the company races to scale infrastructure, revenue, and compute capacity. 8. ClickHouse has surpassed $350M in annual recurring revenue, up 40% since May, as AI agents drive demand for database and observability infrastructure. OpenAI’s usage has reportedly grown roughly 10x over the past year to more than 30 petabytes of data per day, or around 30T events daily. OpenAI has also shifted parts of its log-management workload from Datadog to ClickHouse over the past year. ClickHouse was valued at $15B in January and says gross margins currently range from 50%–70%. Earlier this year, the company acquired Langfuse to expand deeper into monitoring AI applications and agents. Nebius $NBIS owned a 28% stake in ClickHouse as of May 2025, though that stake has likely been diluted by subsequent fundraising. 9. JPMorgan reiterated its Overweight rating on SpaceX $SPCX with a $240 price target, saying the company’s AI ambitions are coming into sharper focus and that it is increasingly positive on Grok. The firm highlighted SpaceX’s completed acquisition of Cursor on 8/14 as an important step in building enterprise AI capabilities. Cursor brings roughly $4B of ARR as of June 2026, with about 75% coming from businesses, which JPMorgan says should help streamline go-to-market and provide valuable model-training data. The firm also said Cursor data is already showing up in Grok’s supplemental training, with tangible improvements in recent model performance. 10. OpenAI says its new Broadcom-built Jalapeno AI chip outperformed Nvidia $NVDA GB300 in both throughput per watt and response latency during internal testing, according to Bloomberg. The chip is built specifically for inference, not training, and runs at roughly 700 watts. OpenAI plans to begin deploying Jalapeno for its models later this year, saying the performance gap widened on larger workloads, including Moonshot’s Kimi model, and that the chip has also performed well on unreleased OpenAI models. The key caveat is that Jalapeno was tested against GB300, not Nvidia’s newer Vera Rubin generation. OpenAI says a second-generation chip is already nearing tape-out, while work on a third generation has begun. 11. The top 10 most active options today by contracts traded were $NVDA with 1.8M contracts, $TSLA with 1.8M contracts, $AAPL with 636K contracts, $SPCX with 548K contracts, $INTC with 540K contracts, $AMZN with 498K contracts, $MU with 483K contracts, $AMD with 403K contracts, $PLTR with 361K contracts, and $SOFI with 359K contracts. 12. Raymond James raised its Nvidia $NVDA price target to $352 from $330 and reiterated a Strong Buy rating. The firm says Nvidia’s CPU opportunity is becoming more important, especially for agentic AI workloads, even though CPUs are only about 3% of sales today. Raymond James expects CPU revenue to reach roughly 5% of total revenue by CY28 and believes Nvidia could potentially become the world leader in CPU revenue within several years. The firm also argued the stock remains inexpensive, trading at less than 15x CY27 GAAP earnings, below the S&P 500 at 18.6x, despite sales and net income growth still expected to exceed 20% in CY28. Its new $352 target is based on a 22x multiple on CY28 estimates, which Raymond James views as conservative given Nvidia’s leadership, CUDA moat, GPU performance, free cash flow, and history of trading at much higher multiples. WALL STREET IS THE GREATEST SHOW ON EARTH.
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Had a lot of fun chatting again with my twin brother @dylan522p We went through lab economics over the next few years - the shift from inference to training as RSI draws near; and how Anthropic and OpenAI are on track to control most of the world’s usable FLOPs within the next few years (because they can monetize compute better and thus outbid everyone). And then we discuss whether the >$10T of total AI capex we’ll see by the end of the decade will cause a sovereign debt crisis, where hyperscaler debt raises interest rates, drives non-AI exposed countries into bankruptcy, and crashes non-AI equities. One question we weren’t able to resolve is whether there’s anything that can counter all the forces barrelling towards centralization in this industry - the economies of scale in training, the scarcity of compute, and eventually continual learning and RSI. 0:00:00 – Two labs will soon control most of the world’s compute 0:07:01 – $6 billion in fab capex enables $1t+ of end revenue 0:13:08 – Compute prices will rise if the labs outbid everyone 0:18:22 – Which layer will capture most of the surplus? 0:25:40 – Will datacenter regulation slow down AI? 0:29:43 – Labs are shifting compute from inference to R&D 0:33:27 – China gets less than 10% of new compute, but its labs need less 0:48:48 – Will AI cause a sovereign debt crisis? 1:07:52 – Will the world's future workforce belong to a few companies?
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Extracts from a further Spectator article (Aug 15) by Andrew Gilligan: An academic project hosted by Cambridge University platforms creationism, the belief that the world was created by God in seven days. It promotes an academic paper demanding that schoolchildren be taught to “actively resist” the science of evolution. At Charles Darwin’s old university, where a college is named after him, Darwin’s discovery is now described by one Cambridge researcher as an example of “potential challenges posed by Eurocentric monoculture.” It is the latest sign of fundamental problems at Cambridge’s education faculty, the same department which hired Jason Arday. The project which platforms the creationist claims, the Islamic Educator Learning Community (IELC), is led by Cambridge’s assistant research professor of education, Farah Ahmed, a former activist in the since banned terror group Hizb ut-Tahrir.. IELC is “hosted by” and “partners with” a university body called the Cambridge Teacher Research Exchange, Camtree. IELC publishes on its website, with a Camtree address, a paper on “Islamic scientific critical consciousness” . . . The paper says that “countering colonial hegemony in science education for Muslims” could include “identifying gaps in fossil records to make the case that the evidence of humans descending from apes is inconclusive.” On Tuesday, in the wake of the Jason Arday scandal, The Spectator revealed that Ahmed had been given the prestigious assistant professorship. We noted that in a 2002 pamphlet, republished in 2017, she attacked ‘western education’ as a ‘threat’ to Muslims, condemned democracy and integration, and criticised British schools for teaching that child marriage is wrong. Like the paper’s author, Mirza, Ahmed has also said that modern science is a problem, because in the “teaching of evolution, Muslim children will be exposed to ideas that contradict Islam.” After that story created a storm, the education faculty took decisive action. It removed the names of all its staff from its website, presumably to stop anyone who doesn’t know about web archive tools checking to see if they’ve hired any more wrong’uns (spoiler alert: they have Other action has been less forthcoming. The faculty clearly hopes to ride this one out, issuing a statement that it is “committed to academic freedom and freedom of speech within the law.” Well, we must reluctantly agree that Ahmed – benefiting from the democracy she condemns – should have the freedom to say that English is “one of the most damaging subjects” a school can teach, or (while teaching at Cambridge) write that Muslim students shouldn’t have to worry about “gaining literacy and numeracy and other disciplinary skills demonstrated through qualifications.” But that’s quite different from believing that Cambridge University should fund her to promote her ideas to the future leaders of the country. Still more indisputable is that a university subject, even one as debased as Education at Cambridge, should not promote baseless, anti-scientific twaddle in the name of academic research. But it does.
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