Live streamer: @币圈教父mogul

The only trader in the Assassin community, @FeiGe Regular Investment@交易员飞哥 @比特币飞哥, has been in the circle for ten years and only does stable trades!

⚠️⚠️⚠️ Recently, there have been multiple instances of people impersonating me to deceive people: Statement! Statement! First point: I've already provided my Twitter profile link on My Planet, which I can verify. The X logo after my homepage name can also be verified; everything else is fake! This is the only tweet! Second point: The tutorial videos and live trading challenge records are all updated by @FeiGe Regular Investment Strategy; everything else is fake! Everyone, don't be deceived! Everyone else is fake! It's all just an act! Fei Ge is my only senior disciple, @Fei Ge Regular Investment, no one else!

It's okay Because the Assassin community has always been steadfast $BTC

The valuation race between OpenAI and Anthropic is heating up, which is not only a showdown between two giants in the AI field but may also create short-term pressure on risk assets like Bitcoin by siphoning off market liquidity. Valuation figures: An unprecedented capital showdown OpenAI: Steady and strong, sprinting to a trillion: According to Bloomberg, OpenAI's current annualized revenue has exceeded $40 billion, doubling by the end of 2025. After a $122 billion funding round, its valuation stabilized at $852 billion, aiming for a $1 trillion IPO. Anthropic: Rising from behind, targeting $2 trillion: Investors are more aggressive in their expectations, forecasting annualized revenue of $100 billion to $120 billion by year-end, a growth of over 10 times. After surpassing OpenAI in May, investors expect it to IPO in October with a valuation of at least $2 trillion, possibly challenging $3 trillion. Transmission to the crypto market: liquidity siphoning effect The opponent in this AI valuation race may well be the crypto market. On one hand, massive funds are being drawn away. OpenAI's single funding round raised $122 billion, and Anthropic has raised nearly $100 billion this year. These huge funds mainly come from traditional venture capital, sovereign wealth funds, etc., which heavily overlap with mainstream crypto market capital. When the AI sector can accommodate such a large volume of funds, it inevitably squeezes incremental capital from the crypto market. On the other hand, the IPO frenzy will intensify capital diversion. Tech giants like Anthropic, OpenAI, and SpaceX are concentrating on IPOs, attracting the attention and funds of traditional capital markets to these "higher certainty" targets, which will relatively reduce the funds flowing to risk assets like Bitcoin. Beware of the transmission risk of valuation bubbles Currently, the valuations of these AI giants are largely based on a "recycling financing" model. Cloud providers are both investors and major clients, burning cash at an astonishing rate. OpenAI burned $3.7 billion in Q1 alone. Once capital market sentiment reverses and the AI bubble bursts, its impact will inevitably transmit to the crypto market, which is highly correlated with risk appetite. When the scale of a single AI funding round exceeds the entire crypto market's weekly ETF inflows, this valuation race is unlikely to be positive for BTC in the short term. In a zero-sum game, the bigger the whales' appetite, the smaller the cake left for BTC. That's all from Cige. Ponder it carefully. #OpenAI与Anthropic估值竞赛升温 $BTC $ETH $SNDK

#CLARITY vote pending, SEC rules not finalized I am Cige. Both regulatory paths for crypto in the U.S. are currently blocked. The CLARITY Act did not advance before the August recess, and the full Senate vote has officially been postponed to September. Senate Majority Leader Schumer confirmed that the process will resume after lawmakers return on September 14. On Polymarket, the probability of the bill passing in 2026 has dropped from over 70% in early May to about 14%. Democrats are demanding stricter ethical provisions related to approximately $1.4 billion in crypto business linked to the Trump family. The Republicans hold 53 seats, the bill needs 60 votes, and at least 7 Democrats would have to defect; currently, only 2 publicly support advancing it. If there is no substantial progress before September 15, it will basically be dead during the midterm election season. The SEC path is also blocked. A meeting scheduled for August 15 to discuss the Reg Crypto rule proposal, which would cover exemptions for crypto asset issuance, was canceled at the last minute on the evening of August 14 due to "unforeseen scheduling issues," with no new date announced. This rule is seen as the SEC's first major attempt at rulemaking in the digital asset space. Both regulatory paths in crypto—administrative rulemaking and legislative progress—are currently stalled. Regarding the impact on BTC, the head of research at Grayscale put it plainly: even if the CLARITY Act does not pass, it will not immediately affect the operation of mainstream blockchains or the demand for Bitcoin as a store of value. Bitcoin does not need CLARITY; the U.S. needs clarity. Regardless of the Senate schedule, BTC continues to produce blocks every 10 minutes. SEC Chair Gensler has previously stated that the SEC is ready to issue regulatory rules addressing the same issues as the CLARITY Act. Bitwise's CIO believes that under the current SEC leadership, regulatory rules might be more favorable than congressional legislation. But with the rulemaking meeting postponed, neither path is viable in the short term. U.S. crypto regulation has entered a dual stalemate. Legislation is stalled, and rulemaking is delayed. The short-term sentiment is bearish, but this will not change BTC's long-term investment thesis. The CLARITY Act's expected passage rate has fallen from 70% at the start of the year to 14%, while BTC oscillates around 64,000. Political games are noise; hash power and consensus are the direction. Don't get shaken off by Washington's bickering. Cige has finished speaking. Think it over. $BTC $ETH $SNDK

Assassin Army Everyone is here! Listen to my command! Sndk Stop asking where to do it Stop asking where to work Current price... $SNDK

SanDisk $SNDK has created a group of wealthy people in the last two days

Grateful for sndk$SNDK Currently up 400 points🔥🔥🔥🔥 Take profit at 1/30 Stop loss at 1450 Next take profit target 1622 Reached take profit at 29/30 $BTC $ETH

Live streamer: @比特帝剧本哥

I am Cige. Bitwise Chief Investment Officer Matt Hougan proposed a viewpoint that the valuation logic of crypto assets is changing, shifting from focusing on market cap and narratives to looking at on-chain fees and protocol revenue. This shift is happening, but it has little impact on BTC's pricing logic because BTC is a different species. Revenue metrics are effective for ETH and DeFi because they generate cash flow. On-chain fees are real cash flow. Ethereum generated about $2.5 billion in fees cumulatively in 2024, and with the AI narrative and Pectra upgrade expectations heating up in 2025, this number could be higher. DeFi protocols like Uniswap, Aave, and Lido each generate quantifiable revenue. Uniswap's single-month fee revenue exceeded $140 million in July 2026, annualizing over $1.6 billion. When the market values these assets, it can use discounted cash flow models, which, even if imperfect, at least provide a common frame of reference. BTC's pricing logic is completely different. BTC is not equity, does not generate cash flow, has no protocol revenue, and does not distribute dividends. Its value comes from three things: scarcity, ETF capital flows, and macro interest rates plus the store-of-value narrative. Bitwise itself admits that for non-yield assets like BTC, the market usually still prices them around these traditional frameworks. Historically, investors' valuation of BTC has evolved from exchange demand to macro asset and ETF demand. The core factor driving BTC's price has always been the capital flow of Bitcoin spot ETFs. In recent weeks, ETFs have had continuous net inflows, and BTC rebounded from 62,000 to around 65,000; this is the most direct pricing logic. Revenue metrics will not replace BTC's store-of-value narrative but will change how the market prices crypto assets. ETH, DeFi, and platform assets will increasingly resemble traditional financial assets, valued by income, profit, and cash flow. BTC will increasingly resemble digital gold, priced by scarcity, institutional allocation ratios, and macro interest rates. The two are not competitors but two different valuation tracks. One data point shows this divergence accelerating: global debt has surpassed $400 trillion, and U.S. Treasury debt is close to $40 trillion. As fiat credit continues to erode, BTC's store-of-value narrative will not fail due to lack of cash flow; instead, it will be strengthened by the ongoing weakening of counterparty credit. Conclusion Revenue metrics will become the core valuation tool for some crypto assets, especially protocols and platforms that can generate sustained cash flow. But it will not replace BTC's store-of-value narrative because BTC's underlying logic is completely different from these assets. For BTC, continuing to focus on ETF capital flows, macro interest rates, and institutional allocation ratios makes much more sense than calculating its protocol revenue. Cige has finished speaking. Ponder it carefully. #加密估值转向收入，BTC如何定价？ $BTC $ETH $SNDK