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Chengming Technology issued a letter holding ZCode accountable for uploading data without authorization

Taiyuan Chengming Technology Co., Ltd. sent a letter to Beijing Zhipu Huazhang Technology Co., Ltd., raising multiple demands regarding the alleged unauthorized upload of company data assets and trade secrets by its ZCode client, and reserving the right to pursue legal accountability. Chengming Technology pointed out that although Zhipu has publicly apologized for the "silent upload of user local repository data" and claimed to have fixed the issue, independent evidence collection revealed that the upload behavior was automatically triggered and occurred in bulk, including complete archived files such as project source code, system architecture, version control history, database passwords, cloud service credentials, and employee personal information, far exceeding the scope of collection stated in its Privacy Policy.Although the client was updated to version 3.12.3 on September 16, upload behavior was still detected in the early hours of the day Zhipu publicly apologized, raising doubts about the actual effectiveness of the "fix." At the same time, the ZCode client’s network requests pointed to a Singapore entity, while the service agreement was signed with Beijing Zhipu Huazhang, requesting clarification on the responsible party for this upload, as well as whether the data was transmitted abroad or stored overseas.Chengming Technology demanded that Zhipu respond in writing by October 10 and complete the immediate cessation of processing and thorough deletion of all uploaded data and related derivative data, caches, and backups, provide a complete list of processing situations, clarify the data's whereabouts, whether it was shared with third parties, whether it was used for model training, and whether cross-border transmission occurred, explain the management of encryption private keys and complete operation logs, clarify the exact scope of "destruction" mentioned in previous public responses, issue proof of deletion completion, provide a written commitment not to upload without authorization again, legally provide access, copying, and explanation of personal information, and designate formal communication channels, among other matters. Currently, Zhipu has not publicly responded to the aforementioned letter.

first_img Samsung Electronics and SK Hynix have successively hired former international finance officials from the Ministry of Finance and Economy

Samsung Electronics hired former Director of the Foreign Exchange System Division of the Ministry of Finance and Economy, Lee Hee-kun, for its IR team as an executive last month. Lee Hee-kun has held positions such as Director of the Foreign Exchange System Division and Director of the Capital Market Policy Division, responsible for foreign exchange systems and overseas investment responses. In April this year, he participated in the work of including South Korea in the World Government Bond Index and received special recognition. He is expected to be responsible for responding to overseas investors and the global capital market.SK Hynix hired former Director of the Strategic Economic Division of the Ministry of Finance and Economy, Jeong Yu-jin, as the Vice President under the Communications Division last month. Jeong Yu-jin has served as the Director of the Climate and Environment Budget Division, Secretary to the Deputy Prime Minister for Economic Affairs, Director of the Foreign Exchange System Division, and Director of the Foreign Exchange Fund Division. Both companies are advancing production investments in the United States, with Samsung Electronics planning to invest $37 billion to build a foundry in Taylor, Texas, and SK Hynix planning to invest $4 billion to build an advanced packaging factory in Indiana.

first_img Michael Saylor: The best protection for digital assets is widespread adoption

Founder of Strategy Michael Saylor stated: The digital asset industry is better off with supportive rules from the SEC, CFTC, Treasury, and banking regulators than accepting the limitations in the final CLARITY compromise. The safest path is to create products that satisfy customers and deploy them widely, allowing people to have a stake in innovation. Ownership should be protected, honest disclosure required, and fraud punished, then let entrepreneurs compete and grow.Saylor mentioned that the September CLARITY compromise would have restricted covered providers to only paying customers for holding stablecoins while allowing qualified activity rewards, and directed the Treasury to limit certain rewards when a significant harmful deposit transfer to community banks was identified. The GENIUS Act has included restrictions on issuers paying interest and returns on stablecoins. The innovation sandbox of CLARITY would have limited participating companies to 25 employees, with each committee approving 20 projects per year. The SEC provided conditional relief for on-chain trading of certain tokenized stocks on September 17, and the CFTC chairman committed to using existing authority while the bill is stalled.He pointed out that useful products should be scaled by 2027 and 2028, transforming temporary relief into permanent rules. The goal is to have 50 million American voters using digital financial products that improve their lives. The best protection for digital innovation is the public that benefits from it.

first_img Kalshi closely follows Coinbase in submitting an application for perpetual futures on U.S. stocks

The prediction market Kalshi has submitted proposed rule changes to the U.S. Securities and Exchange Commission and filed for approval with the CFTC to launch perpetual futures contracts anchored to individual U.S. stocks. This proposal echoes the application submitted by Coinbase on the same day, as both companies aim to introduce popular perpetual futures products from the crypto market into the traditional stock market.According to the proposal, the relevant contracts will not have a preset expiration date and will maintain price consistency with the underlying stocks through periodic funding payments between long and short positions. Kalshi stated that these contracts will be treated as securities futures products and will be cleared through its CFTC-registered clearinghouse, Kalshi Klear. Previously, Kalshi has offered perpetual futures anchored to Bitcoin, Ethereum, Solana, and XRP in the U.S., with its Bitcoin perpetual contract receiving CFTC approval in May of this year.The competition for U.S. stock individual perpetual futures is expanding. Kraken's parent company Payward has also submitted an application through its Bitnomial Exchange, planning to initially offer perpetual futures anchored to 10 U.S. stocks, including Tesla, Nvidia, Apple, Microsoft, and Amazon, and is committed to achieving trading five days a week, 24 hours a day. These applications were submitted after the CLARITY Act failed to advance in the Senate on September 15, with SEC Chairman Paul Atkins stating that regardless of legislation, the agency will act decisively within its existing statutory authority to provide regulatory certainty for investors and entrepreneurs.

first_img Ripple: Asset management institutions are preparing for the payment upgrade Batch V1.1 of the XRP Ledger

According to CoinDesk, Ripple stated that asset management companies and other commercial projects are preparing to use the Batch V1.1 feature of the XRP Ledger. This feature allows up to eight transactions to be combined into a single operation and ensures that all transactions either succeed or fail in an all-or-nothing manner, avoiding situations where one party completes settlement while the other fails.This upgrade is expected to support Delivery Versus Payment (DVP) transactions, allowing asset transfers and payments to be completed simultaneously, while also enabling exchanges, wallets, and market platforms to directly attach service fees to customer transactions for processing.RippleX Engineering Director Ayo Akinyele mentioned that some projects are already being developed around Batch, and once activated, it will bring related work closer to a production environment. Specific partners and launch times will be announced once plans are finalized. The amendment has received support from 30 of the 35 tracked validators on the XRP Ledger, exceeding the 28 votes required to enter the activation countdown. The countdown began on September 15, and if the validator support rate remains above 80% within 14 days, Batch V1.1 is expected to be activated shortly after September 29.Previously, researchers discovered serious flaws in the Batch V1 signature verification process in February, which could prematurely stop checking signatures under certain conditions, allowing attackers to unauthorizedly include transactions from other accounts. The developers subsequently withdrew the original version. Since the amendment had not yet been activated at that time, the vulnerability code did not run on the live ledger, and no funds were exposed.
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