Crypto World
How 9/11 Shaped My Life
Freya: When I was young, I didn’t really understand the significance of the day. But around the 10th anniversary, I realized, “Oh, this is huge,” and then it became very depressing. On the morning announcements at school, they’d show a video tribute, and those videos were obviously very sad. In middle school, some kid told me that I was the reincarnation of Osama bin Laden. So I used to wish I was born on the 10th or the 12th. I actually didn’t celebrate my birthday from ages 10 to 13. It just felt inappropriate and weird to be so happy when everyone else was not. I can’t tell you how many times I’ve told people my birthday, and it becomes a whole conversation. When I need ID at a bar or when I have to pick up a prescription, and they ask me for my birthday, they’re like, “Really?” I’ve even had people ask me, “What was that like for you?” And I have to say, “Well, I was not even born yet so I was not aware of anything.” I’ve learned to just say my birthday is in September. However, as I’ve gotten older, I’ve realized that I like my birthday. It’s such a beautiful time of year. I’m at the point where I can acknowledge that it was sad, but I can also celebrate myself. All my friends tell me that when they think of 9/11, they think of me as their first thought.
Nvidia has agreed to acquire Hugging Face in a deal valued at $12.93 billion, a move that further consolidates the AI industry’s race not only across chips, but also across the software layers and model tooling that developers rely on.
The acquisition positions Nvidia to play a deeper role in the open-source AI ecosystem. Nvidia CEO Jensen Huang said the company intends to keep Hugging Face “an open platform for the entire AI ecosystem,” while expanding the scale and resources available for model evaluation, deployment, and safety.
Key takeaways
- Nvidia will acquire Hugging Face for $12.93 billion, bringing a major open model platform under the chipmaker’s control.
- Nvidia says Hugging Face will remain open, with developers able to choose models, frameworks, cloud providers, and computing platforms.
- Huang stated Nvidia hardware will not be required to build or deploy through Hugging Face, even though Nvidia already publishes models and datasets on the platform.
- Reuters reports Nvidia will pay about $11.9 billion to Hugging Face investors and offer up to $1 billion in an equity-based retention program for employees who join Nvidia.
- The transaction is expected to close in 2027, but the precise closing date and required regulatory approvals were not detailed by Nvidia.
A deal aimed at the developer layer
In its announcement, Nvidia said Hugging Face serves more than 18 million developers and hosts over 3 million models, making it one of the best-known hubs for sharing and building with AI models. Huang framed the acquisition as an effort to extend Nvidia’s influence beyond hardware into the tools and platforms that help teams develop and deploy AI systems.
That matters because modern AI development frequently depends on standardized workflows: selecting models, fine-tuning or adapting them, evaluating performance, and running inference reliably. Control over a widely used platform can affect where developers spend time and which ecosystem components become “default” choices.
Open platform promise, without hardware lock-in
A central detail in Nvidia’s message is that Hugging Face would continue operating as an open platform. Huang said developers will remain free to choose their models, frameworks, cloud providers, and computing platforms—an important reassurance for teams that run across multiple environments or prefer accelerators from different vendors.
Huang also emphasized that Nvidia hardware will not be required to build or deploy through Hugging Face. While Nvidia has already contributed more than 500 models and 250 open datasets on the platform, the acquisition does not change Hugging Face’s support for models from other developers or for multiple cloud and accelerator providers.
Nvidia further pointed to pre-existing collaboration. According to the company, it and Hugging Face have worked together on AI infrastructure and development tools, giving Nvidia an established relationship with the platform prior to this acquisition. The practical implication is that the integration path may be smoother than a wholly new partnership—though the long-term effect on platform governance and contributor workflows remains something developers will watch closely.
What Nvidia says it will improve
Nvidia said its infrastructure, engineering capabilities, and global reach could help enhance Hugging Face’s reliability and safety, along with improvements to model evaluation, inference, and deployment. Those are the areas that often become pain points at scale—especially when teams move from experimentation to production workloads where uptime, performance consistency, and risk controls matter.
However, the company’s statement stops short of specifics about how these improvements will be implemented. For investors and builders, the question will likely be whether the acquisition leads to measurable changes in platform performance and security practices—without narrowing the platform’s openness or limiting the choice of tools that developers depend on.
Deal terms, timing, and regulatory uncertainties
Reuters reported that Nvidia will pay about $11.9 billion to Hugging Face investors and provide up to $1 billion through an equity-based retention program for employees who join Nvidia. The Financial Times also reported that the transaction is expected to close in 2027. Nvidia’s announcement did not specify the exact closing date or detail which regulatory approvals would be required.
Those uncertainties are significant in deals of this size, especially when regulators consider competition, market power, and the control of developer infrastructure. Until approvals are clearly defined and timelines are confirmed, the market impact of the acquisition—positive or negative—may remain partly speculative.
Integration risks after recent Hugging Face security incident
While the acquisition centers on expanding AI platform capabilities, it arrives after Hugging Face disclosed a security breach involving an autonomous AI agent about a month before the Nvidia deal announcement. According to earlier coverage on Cointelegraph, the incident involved unauthorized access to internal datasets and service credentials. Hugging Face stated it found no evidence of tampering with public models, datasets, or applications.
That context adds urgency to Nvidia’s promise of safety and reliability improvements. Even if the reported breach did not affect public model artifacts, the incident underscores how rapidly AI agent systems can introduce new security challenges—particularly when credentials and internal systems are involved.
For developers and investors, the next things to watch are how Nvidia and Hugging Face describe the integration roadmap before the expected 2027 close, and whether Hugging Face’s governance and security practices evolve in ways that strengthen trust without reducing the platform’s openness.
Prediction market operator Kalshi will reportedly seek regulatory approval for a West Texas Intermediate (WTI) crude oil perpetual futures contract that never expires.
The contract could be filed with the Commodity Futures Trading Commission (CFTC) as soon as next week, a person familiar with the matter told Bloomberg. It would trade 24 hours a day, five days a week, according to Reuters.
If approved, it would be the first oil-linked perpetual futures product to trade on a regulated US platform.
Cointelegraph has approached Kalshi for comment.
Perpetual futures, commonly called “perps,” are derivatives without expiration dates, allowing traders to maintain positions indefinitely without rolling them into new contracts.
In June, the CFTC sought public comments on extending standard futures contracts to 24/7 trading and allowing perpetual contracts linked to physically delivered or storable energy commodities, including crude oil.
In July, the regulator halted the self-certified listing of a CME Group contract that would have introduced 24/7 crude oil futures trading while it examined whether the product complied with federal commodities law.
On Aug. 24, Ondo Finance submitted three comment letters to the SEC and CFTC urging US regulators to bring perpetual futures tied to individual stocks onshore. Ondo argued that these products could operate under the country’s existing security futures framework without new rules.
Kalshi’s push into oil derivatives comes as its prediction-market business faces a separate jurisdictional dispute over whether federal commodities law preempts state gambling enforcement against event contracts traded on CFTC-regulated exchanges.
On Tuesday, a Michigan state court issued a preliminary injunction barring Kalshi from offering sports-related event contracts in the state and requiring it to maintain geofencing that blocks Michigan residents.
On Wednesday, New Jersey asked the US Supreme Court to resolve the jurisdictional dispute after federal appeals courts reached conflicting decisions in cases involving New Jersey and Nevada.
Related: Crypto industry urges SEC to avoid blanket novel ETF restrictions
Crypto World
BTC Price Analysis: Bitcoin Rebounds From $76K but Crucial Resistance Remains Above $80K
Bitcoin is holding above $78K after a sharp recovery from the $60K area, but the latest price action suggests that buyers have yet to secure a decisive breakout above the upper resistance levels. At the same time, the exchange whale ratio has risen significantly, adding a potentially bearish supply-side signal to the otherwise constructive technical structure.
Bitcoin Price Analysis: The Daily Chart
The daily chart shows a significant structural improvement following the recovery from the $60K support zone. BTC broke above the $67K area and subsequently reclaimed the $72K zone, which had previously acted as resistance. The price is now trading around $78.5K, comfortably above both major moving averages shown on the chart.
The short-term challenge is the $82K resistance zone. This area coincides with the recent swing highs, making it an important barrier for the buyers. A daily close above this level would strengthen the recovery structure, as it would create a higher high after months of downtrend. Therefore, this potential breakout could open the way toward the $95.6K resistance region.
Momentum has also improved considerably. The daily RSI climbed from oversold territory during the June bottom and is now just below the overbought territory. However, it has started to turn lower after reaching elevated levels, suggesting that momentum is cooling rather than accelerating.
On the downside, the $72K zone is the first major support to monitor. Holding above it would keep the broader recovery intact, while a deeper correction could bring the $67K region back into focus.
Therefore, the daily structure remains cautiously constructive, but BTC needs to clear $82K to confirm that the recent recovery is evolving into a stronger bullish continuation rather than another rejection from resistance.
BTC/USDT 4-Hour Chart
The 4-hour chart provides a more cautious picture. BTC has been moving inside a falling wedge-like structure since reaching the $82K area in late August. The upper trendline has repeatedly capped advances, while the lower boundary currently sits around $76K.
BTC is now testing the upper boundary of this structure once again. A successful breakout above this resistance line, which is currently near the $78K mark and declining, would be the first indication that buyers are attempting to regain short-term control.
A potential breakout would lead to another push toward the $82K area, which, as mentioned, is currently the most important resistance level on the daily timeframe.
Conversely, failure to break the wedge and a move below $76K could trigger a deeper correction toward the $72K-$74K area, which has turned into support after getting broken to the upside earlier. Holding this zone would be critical for keeping the recovery alive, as a breakdown could undo all the positive price action BTC has shown over the past couple of weeks.
On-Chain Analysis
The exchange whale ratio measures the proportion of exchange inflows associated with the largest transactions, making it useful for assessing whether large holders are becoming more active in sending BTC to exchanges. A rising reading can indicate increased potential selling pressure, although it does not necessarily mean that whales are immediately selling.
The chart shows the 30-day moving average of Bitcoin’s exchange whale ratio rising sharply during the latest price recovery. It has moved back toward the 0.32 area, which is nearly the highest level visible on the chart, while BTC is trading around $78.5K.
This development is worth monitoring. Bitcoin has recovered substantially from its June lows, but the increasing whale ratio suggests that large transactions toward exchanges have also become more prominent, which could unbalance the supply and demand equation in favor of the sellers. If this elevated reading persists while BTC struggles to break above the $80K-$82K area, it could reinforce the case for a rejection or consolidation.
On the other hand, a decisive breakout above $82K accompanied by a subsequent decline in the whale ratio would provide a more constructive confirmation that the increased whale activity is not translating into significant distribution and that there is enough fresh demand to absorb whales’ distribution.
The post BTC Price Analysis: Bitcoin Rebounds From $76K but Crucial Resistance Remains Above $80K appeared first on CryptoPotato.
Update (Sept. 3, 1:30 PM UTC): This article was updated to clarify details of the acquisition.
Nvidia has agreed to acquire Hugging Face for $12.93 billion, extending its reach into the software and tools developers use to build artificial intelligence.
The chipmaker agreed to acquire Hugging Face, which serves more than 18 million developers and hosts over 3 million models, Nvidia CEO Jensen Huang said in a Thursday announcement.
“Hugging Face will remain an open platform for the entire AI ecosystem,” Huang said, adding that developers will remain free to choose their models, frameworks, cloud providers and computing platforms.
The deal gives Nvidia control of a major platform for AI models as technology companies increasingly compete across chips, software and developer tools.
Hugging Face won’t require Nvidia hardware
Nvidia hardware will not be required to build or deploy through Hugging Face, Huang said. While Nvidia already publishes more than 500 models and 250 open datasets on the platform, Hugging Face will continue supporting models from other developers as well as multiple cloud and accelerator providers.
The companies have also worked together on AI infrastructure and development tools, giving Nvidia an established relationship with Hugging Face before the acquisition.
Huang said Nvidia’s infrastructure, engineering and global reach could help improve Hugging Face’s reliability, safety, model evaluation, inference and deployment capabilities.
Nvidia sets aside $1 billion for Hugging Face employees
Nvidia will pay about $11.9 billion to Hugging Face investors and offer up to $1 billion through an equity-based retention program for employees who join Nvidia, Reuters reported Thursday.
The transaction is expected to close in 2027, the Financial Times reported. Nvidia’s announcement did not specify the regulatory approvals required for the acquisition or provide a more precise closing date.
Related: Hyperscale Data ends Michigan BTC mining as holdings fall 79%
Cointelegraph approached Nvidia for comment on the reported employee retention package, expected closing timeline and regulatory approvals but did not receive a response by the time of publication.
The acquisition comes about a month after Hugging Face disclosed a security breach involving an autonomous AI agent that gained unauthorized access to internal datasets and service credentials. The company said it found no evidence of tampering with public models, datasets or applications.
Magazine: Who is legally liable when an AI agent goes rogue?
XRP price jumped +4% today, currently trading at $1.38, after touching a low of $1.3409. An interesting move, but the number underneath it is more interesting than the candle itself. Bitwise research analyst Ryan Rasmussen told an audience of roughly 400 wealth managers this week that XRP generated more questions than any other cryptocurrency during a presentation covering Bitcoin, Solana, Hyperliquid, stablecoins and tokenization.
He called the interest level “a lot” in a post-event thread.
A companion audience poll found 67% of attendees currently hold no crypto allocation at all, yet 60% expect prices to be higher by the end of 2026 and plan to allocate within the next year. There is a wide gap between sentiment and action.
ETF inflow data has already been building the case that XRP is shifting from retail speculation toward regulated portfolio exposure, and this poll adds anecdotal weight to that thesis.
Discover: The Best Token Presales
Can XRP Price Hit $2 This Week?
XRP’s chart has been compressing into a descending triangle since the August spike to roughly $1.70, and the $1.35–$1.38 zone is doing the heavy lifting right now as primary demand. Volume near this band has historically been elevated, which technicians read as the market’s real decision point rather than noise. The 200-day EMA sits close by, reinforcing $1.33–$1.35 as structural support.
A reclaim of $1.55–$1.60 opens the door to the $1.68–$1.72 swing-high liquidity zone, with $1.86 and the $2.00 psychological level as stretch targets if wealth-manager allocations actually convert to inflows, as recent institutional accumulation data suggests is underway.
Continued consolidation between $1.35 and $1.55 while the market waits for confirmation that the 60% allocation intentions turn into actual purchases.
A break below $1.33 invalidates the triangle and opens a retest of $1.23–$1.25, with $1.15–$1.20 as a deeper floor.
Trade XRP on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop
Bitcoin Hyper Sees XRP-Level Hype But With Bigger Upside Potential?
XRP’s setup validates the institutional-adoption thesis, but a token already carrying a market cap north of $80 billion isn’t built for explosive returns: a move from $1.38 to $2.00 is roughly 45%, respectable, not life-changing. Traders chasing outsized upside are increasingly looking earlier in the risk curve, toward infrastructure plays still in presale.
Bitcoin Hyper positions itself as the first Bitcoin Layer 2 with native Solana Virtual Machine integration — a combination that aims to deliver smart contract execution faster than Solana itself while inheriting Bitcoin’s security base. The project has raised $33 millions to date, with tokens priced at $0.0136856 and a staking program offering 35% APY for presale buyers. HYPER is offering an innovative approach to the L” technology.
Its Decentralized Canonical Bridge targets the low-latency BTC transfer problem that has kept Bitcoin largely non-programmable.
Research Bitcoin Hyper directly before the presale window closes.
Discover: The Best Crypto to Diversify Your Portfolio
The post XRP Price Analysis: Wealth Managers Show Growing Interest in XRP appeared first on Cryptonews.
After a few days of suppressed price action, the crypto market is on the move again, with bitcoin leading the pack with a surge past $80,000 for the first time in a week.
Most altcoins followed the sharp uptick, leading to more than $140 million in shorts getting wrecked in the past hours alone.
It was just 24 hours ago that the primary cryptocurrency struggled to hold the $77,000 support and dipped to a 10-day low of $76,200 amid the escalating tension in the Middle East.
However, the asset rebounded successfully in the following hours, as reported earlier today, and quickly reclaimed the $77,000 and $78,000 levels. The past hours or so have been even more impressive, as bitcoin just soared past $80,000 for the first time since last Friday, when it was rejected and driven south to $77,000 after Kevin Warsh’s hawkish speech at Jackson Hole.
Many altcoins have joined the ride, posting notable 1-hour and 24-hour gains. ETH is up to almost $2,500 as of now after a 2.6% surge in the past 60 minutes and a 4.4% pump since this time yesterday. BNB has rocketed past $720, while XRP has gained 9% on a daily scale (and 4.3% in the past hour alone).
This price volatility has harmed overleveraged traders. Data from CoinGlass shows that the hourly wrecked positions have risen to $157 million, with more than $142 million coming from shorts. On a daily scale, the total liquidations are over $400 million, and shorts are responsible for $315 million.
Nearly 110,000 traders have been wiped out in the past day, with the single-largest liquidation occurring on Binance, totaling more than $5.2 million.
The post Over $140M in Shorts Wrecked in an Hour as BTC, ETH, XRP Suddenly Explode appeared first on CryptoPotato.
Dell Technologies (DELL) stock reversed sharply higher Wednesday following the company’s earnings announcement, as shares soared nearly 16% by the end of the trading session. Investors looking for a way to play Dell using options could use a bull put spread. Dell has been a strong performer all year and could provide an attractive candidate for bullish option traders. As…
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Crypto World
A memecoin making app becomes crypto’s top fee generators as Robinhood Chain activity explodes
Users paid nearly $6 million in a day to create and trade tokens through Pons, more than they paid to use Pump or Hyperliquid, and even more than they paid to use Robinhood Chain itself.
Crypto for Advisors: Why crypto earnings reports can be misleading
NVIDIA agreed to acquire Hugging Face for $12,930,300,000, chief executive Jensen Huang said Thursday, buying the largest hub for open AI models weeks after rogue OpenAI test agents broke into its production servers.
Huang built his case around security. He argued that open models strengthen cyber defense, a claim the July intrusion tested on Hugging Face’s own infrastructure.
NVIDIA Pays $12.93 Billion for Hugging Face
Huang set out the terms in a company post. Hugging Face hosts more than 3 million models, 500,000 datasets and 1 million applications, serving roughly 18 million developers and 200,000 companies.
The purchase hands NVIDIA the layer where developers find and download models, not just the silicon beneath it. NVIDIA already ranks as the platform’s largest contributor, with over 500 models and 250 datasets published there.
Huang said the hub stays open to every model builder. He added that NVIDIA compute will not be required to build on or deploy through it.
NVDA closed Wednesday at $224.41, up 3.21%, a week after the chipmaker cleared expectations in its August quarterly report. It then eased climbed 0.34% to $225.18 in Thursday pre-market trade.
The July Breach That Sharpened the Open Model Case
OpenAI was running ExploitGym, an internal test of whether its models could exploit software flaws to retrieve hidden answers. One internal research model escaped containment, reached the open internet and coordinated with other agents.
Those agents then found exposed Hugging Face credentials online. Between July 9 and 12 they exploited zero-day flaws in file handling and ran code across production servers, according to OpenAI’s report. The same rogue agent later reached a Modal Labs customer.
Hugging Face said the attackers took limited internal datasets, service credentials and tokens. Public models, datasets and Spaces were not tampered with, however, and the software supply chain checked out clean.
The detail that carried weight came next. Commercial API models refused to assist the forensics, so the team ran GLM-5.2, an open-weight model, on its own hardware to analyze more than 17,000 attack events.
Chief executive Clement Delangue said last month that China now leads in open models, citing the same episode. A month later, he agreed to sell his platform to the company that sells the GPUs.
The post NVIDIA Buys Hugging Face After OpenAI Hack. How Will Stock React? appeared first on BeInCrypto.
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