On September 25, the 5th Global Digital Trade Expo was held in Hangzhou, where Wang Xingxing, founder of Yushu Technology, delivered a keynote speech titled "From Machinery to Intelligence - The Evolutionary Theory of Embodied Future." Wang stated that the embodied intelligence industry may soon experience a critical breakthrough similar to that of ChatGPT. He believes that when robots can complete approximately 80% of tasks through voice interaction and embodied intelligence capabilities in about 80% of unfamiliar environments, the industry will enter a critical phase of large-scale application. He pointed out that the ability for robots to understand and execute specific tasks based on voice commands has already made breakthroughs last year, but the industry still faces a core technological bottleneck, namely the precise matching issue between artificial intelligence models and the real physical world. Wang noted that currently, robots still have a few millimeters of error during actual operations, which limits their stability and reliability in complex environments. "In the future, whoever can solve this problem will fundamentally resolve the issues with robots."

On September 25, Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, stated that broad market indices and retirement funds are now deeply tied to the AI wave, with technology stocks accounting for about 40% of the S&P 500 index. She pointed out that the market capitalization weight of just three chip manufacturers makes up over 25% of the MSCI Emerging Markets Index. Ozkardeskaya indicated that AI has become the 'core pillar' of the market, and this pillar 'must not show any cracks.' She believes that, in the short term, the US stock market will continue to be supported by seasonal factors, and the current market uptrend may extend until the end of the year. However, she also warned that the worst-case scenario would be a shake in the investment logic surrounding AI, which could undermine market confidence in the AI narrative, potentially triggering a significant market correction.

On September 25, U.S. stock index futures rose into positive territory, with Nasdaq futures up 0.36%. In after-hours trading, storage and semiconductor stocks saw widespread gains, with AMD, Intel, and SanDisk all rising by 2%.

On September 25, according to Cryptonews, NEAR Protocol and Ondo Finance have launched trading for tokenized US stocks and ETFs on near.com, with an initial offering of 20 assets including Nvidia, Tesla, Apple, Microsoft, Amazon, as well as SPY and QQQ. Eligible users can deposit using over 30 supported stablecoins or other crypto assets, with NEAR Intents serving as the cross-chain distribution layer, allowing similar assets to be routed to connected wallets and DeFi protocols in the future. Purchases are settled in USDon, which is backed 1:1 by US dollars in brokerage accounts, and completed via atomic swaps. This product is not available to US persons; the overall Ondo platform has launched over 100 assets, with NEAR initially offering only one-fifth of that.

On September 25, Meta is experiencing a strong rebound driven by AI expectations, with the popularity of its personal AI assistant Muse serving as a significant catalyst for this rally. The company's stock had faced considerable pressure earlier this year, but it quickly rebounded in September. As of September 24, the stock price has risen approximately 36% this month, marking the strongest single-month performance since 2013, with its market value nearing $2 trillion, just about 1% away from this milestone.

As of September 21, within the past 7 days, Circle issued approximately 10.1 billion USDC and redeemed about 9.8 billion USDC, resulting in an increase of approximately 300 million USDC. The total circulation of USDC is 74.6 billion, with reserves amounting to approximately 74.8 billion USD. This includes about 41.2 billion USD in overnight reverse repurchase agreements, approximately 26.5 billion USD in Treasury bills with maturities of less than 3 months, around 5.9 billion USD in deposits from systemically important institutions, and about 1.2 billion USD in deposits from other banks.

On September 25, according to the Jerusalem Post, Iranian Foreign Minister Abbas Araghchi stated to reporters during the United Nations General Assembly in New York that Iran has proposed a plan to the United States to reopen the Strait of Hormuz within seven days. Araghchi indicated that the plan would be based on a memorandum of understanding reached between the two countries in June of this year, but it would only be implemented if specific conditions are met. He said, 'I believe it would be better if this could be completed before the U.S. midterm elections, but it depends on the decision of the U.S. government.' Araghchi also noted that Iran is not concerned about the specific timeline and is not in a hurry to advance this process.

According to AiCoin monitoring, the US spot BTC ETF has experienced continuous inflows over the past four trading days, totaling $2.251 billion. During this period, the largest inflow was into IBIT, amounting to $1.061 billion, followed by FBTC with an inflow of $652 million.

On September 25, as reported by Wall Street Insights citing Machine Heart, DeepSeek Harness has launched its official desktop version, which supports a graphical interface, DeepSeek account login, and API Key, significantly lowering the usage threshold compared to the previous web version that required command line initiation. This client has passed Apple notarization, with the signing entity being 'Hangzhou DeepSeek Artificial Intelligence Co., Ltd', pointing to DeepSeek company, but it is a nightly build and has not been officially announced. The version includes six official plugins (Agent Team, Voice Input, Terminal, Agent Loop, Subagent, Web Search) and offers four working modes: Standard, PTC, Minimalist, and Creative, continuing the composable architecture concept of 'Everything is a Plugin'. Currently, this client does not support Linux.

On September 25, according to Arkham Explorer data, Morgan Stanley's on-chain entity currently holds assets valued at approximately $775 million (775,015,895.63 USD), with a change of +0.34%. Nearly all of its holdings are in Bitcoin: approximately 9,218 BTC, valued at about $775.02 million based on a unit price of around $84,074. The page also indicates that this entity transferred several small amounts of ETH to Coinbase Prime Custody about 8 months ago, with each transfer being less than $100.