According to BlockBeats, on September 9th, cryptocurrency exchange Gemini announced that its Singapore entity, Gemini Digital Payments Singapore, has been granted a Primary Payments Institution (MPI) license by the Monetary Authority of Singapore (MAS).

Gemini stated that Singapore remains an important operations hub. With the license secured, the company will continue to provide digital asset trading, custody, and over-the-counter (OTC) services to local retail and institutional clients. Gemini co-founder Cameron Winklevoss said the license demonstrates the company's long-term commitment to the Singapore market.

According to Beating AI News, Tian Yonglong, a former OpenAI researcher, has recently been added to Tencent's CEO/President Office with the official title of "Head of Mixed-Modal Multi-Mode," reporting to Tencent's Chief AI Scientist Yao Shunyu.

Bo Liefeng, the former head of the multimodal model department, is no longer directly responsible for front-line model business and has been transferred to the position of operations manager of the basic model department.

In July of this year, Tencent merged its large language model and multimodal model teams into the Basic Model Department, with Yao Shunyu taking unified charge. Tian Yonglong joined Tencent at that time, responsible for the VLM (Visual Language Model) direction.

Now, the division of labor in Tencent's basic model is further clarified: Yao Shunyu is in charge of the entire basic model department, and Tian Yonglong is responsible for mixed multimodal models.

According to BlockBeats, on September 9th, SOPH experienced a sharp drop after surging yesterday, reaching a low of $0.005145 this morning, a 62.27% decline from yesterday's high of $0.013637. A whale (0xc069) that accurately timed the drop yesterday, achieving a floating profit of $740,700, has now turned from profit to loss in this sharp decline and initiated a plan to reduce its SOPH holdings by 100 million tokens this morning.

At 01:48 yesterday, SOPH touched a low of $0.004645. Just 17 minutes later, this address began to buy on the dip, with the first transaction at $0.004736, less than 2% from the low. Subsequently, it added to its position in two concentrated rounds during the upward movement, eventually expanding its long position to 157.92 million tokens, with a total opening transaction value of approximately $1.0421 million and an overall cost basis of approximately $0.006599.

SOPH then surged rapidly, reaching $0.011467 at 13:30, an increase of approximately 147% from the overnight low; by 13:33, the address had a floating profit of approximately $740,700.

The subsequent rise quickly turned into violent fluctuations. Starting at 13:35 yesterday, SOPH fell from $0.011304 to $0.00936 in 5 minutes, a flash drop of 17.20% in a single 5-minute period. Subsequently, the price experienced another sharp drop of 12.52% in a single 5-minute period, and continued to decline until this morning when it reached a low of $0.005145.

During this period, the address did not close its existing long positions. It wasn't until 08:57 today that it initiated a 12-hour TWAP transaction, planning to sell 100 million SOPH in batches. The first closing transaction price was only $0.00525, which is already lower than the overall holding cost of $0.006599.

As of press time, the address has sold approximately 13.6017 million SOPH tokens, realizing a trading loss of approximately $16,400; the remaining long position of approximately 144.31 million SOPH tokens is worth approximately $769,900, with a floating loss of approximately $182,400.

Previous news: SOPH surges 146% as funds rush to buy during the "closing-off" rally; a mysterious new address exposed, allowing early investors to make huge profits.