📈 【Key Updates Overview for Midday September 20 | Encryption Voyager Flying Fish】

7:00-12:00 Keywords: XAI, BitGo, Rabby Wallet, Federal Reserve, Solana, SEC
🤖 1. xAI launches Grok 4 Fast high-performance inference model Elon Musk's artificial intelligence company xAI has introduced a new model, Grok 4 Fast. This model focuses on high-performance inference and low costs, performing closely to Grok 4 in several benchmark tests, but with an average reduction of 40% in inference token usage and a price drop of 98%. For instance, it achieved an accuracy of 92.0% in the AIME 2025 no-tools test and a score of 93.3% in the HMMT 2025 mathematical reasoning task. Its architecture unifies long-chain reasoning with a fast response mode for the first time and dynamically switches through system prompts, making it suitable for various scenarios such as real-time search and code execution. Developers can adjust the inference depth via the xAI API, and this model is now available to all users (including free users), offered for free for a limited time on OpenRouter and Vercel AI Gateway.
🏦 ​2. BitGo officially submits S-1 filing to the SEC, initiating IPO process. Cryptocurrency custody giant BitGo Holdings, Inc. has officially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), initiating the IPO process. This move marks a key step for BitGo towards becoming a publicly traded company, highlighting the cryptocurrency industry's advance into mainstream financial markets. The document involves the proposed initial public offering of its Class A common stock, but the number of shares to be issued and the price range have yet to be determined. BitGo is one of the largest custodians in the industry, with assets under custody soaring from $60 billion in the first half of 2025 to over $100 billion. This IPO comes as BitGo seeks to expand its overseas business, having received approval under the EU MiCA framework to extend its services throughout the EU, and is reportedly applying for a U.S. banking license.
🎯 ​3. Rabby Wallet hints at the possible launch of its native token RABBY. The popular Web3 wallet Rabby Wallet, launched by the data platform DeBank, has recently been very active, suggesting a potential launch of its native token RABBY. Rabby Wallet has rolled out a points program in January 2024, with initial points airdropped to all Ethereum addresses. Users can claim these points by installing the wallet, importing accounts, and signing gasless transactions. The program aims to incentivize users to utilize its browser extension and desktop application, allowing users to earn daily points through referring friends, redeeming, and using gas top-up features. Web3 projects often guide future token airdrops through points programs, and Rabby's actions have been widely interpreted by the community as a prelude to issuing its native token.
💹 ​4. Economist: Bitcoin and Altcoins Will Face "Shock" from the Federal Reserve
Economist Timothy Peterson stated that the cryptocurrency market may have underestimated the likelihood of rapid interest rate cuts by the Federal Reserve in the coming months and the "shock" it could bring. He pointed out that "the Federal Reserve has never envisioned such gradual rate cuts," and expected that the "unexpected effects" will come into play, potentially catching the market off guard, which will significantly stimulate the rise of Bitcoin and other cryptocurrencies in the next 3 to 9 months. Previously, the Federal Reserve implemented its first rate cut of 25 basis points for 2025 on September 17, and the market generally anticipates a 91.9% probability of another 25 basis point cut at the October meeting. Rate cuts typically reduce the attractiveness of traditional low-yield investments, which may encourage funds to flow into higher-risk, higher-return assets like Bitcoin.
💎 ​5. Solana Co-founder: Everything that generates revenue should have a token. Solana co-founder Anatoly Yakovenko (toly) stated in response to Helius CEO's discussion on "why wallets need tokens" that everything capable of generating revenue should have a token, so that profits can be returned to token holders. This viewpoint continues his philosophy of "tokenizing everything," aiming to capture and distribute the value generated within the ecosystem through token economics. It is worth noting that toly has openly criticized "Memecoins and NFTs as digital garbage with no intrinsic value," despite the fact that the Solana ecosystem has benefited significantly from activities driven by Meme coins.
⚖️ ​6. Former SEC Chairman Gensler is "proud" of cryptocurrency enforcement. Former Securities and Exchange Commission (SEC) Chairman Gary Gensler admitted in an interview that he does not regret the way he enforced cryptocurrency during his four-year tenure and said he feels "proud" of it. He reiterated that cryptocurrencies are "highly speculative, extremely risky assets" and emphasized that the SEC has been working to ensure investor protection, facing many fraudsters along the way, such as Sam Bankman-Fried (the founder of FTX) being no exception. This indicates that during his tenure, the SEC took a tough regulatory stance on the cryptocurrency industry.
💡 Midday commentary and midday dynamics cover multiple aspects of technology, market, regulation, and ecology:
AI and Encryption Integration: xAI has launched a low-cost, high-performance model that lowers the development threshold for AI applications, promising to drive innovation in more AI + encryption projects.
Traditional Finance Acceptance: BitGo officially launches its IPO process, marking another important sign of acceptance of encryption infrastructure providers by traditional financial markets, bringing more compliance and transparency to the industry.
Token Economic Trends: The points program of Rabby Wallet and the remarks co-founded with Solana reflect that "tokenized earnings" and "points-based airdrops" have become common strategies for projects to incentivize users and build ecosystems.
Macroeconomic Policy Impact: Economists' warnings remind the market that the Federal Reserve's future interest rate policy path remains a key variable affecting encryption market volatility, and attention should be paid to the impact brought by its "expectation gap."
Regulatory Legacy: The remarks of the former SEC chairman reflect the ongoing high-pressure enforcement situation of U.S. regulatory agencies in the field of encryption, and compliance is expected to remain key to the survival and development of projects in the future.
#XAI BitGo #IPO RabbyWallet #美联储 Solana #SEC encryption currency
(The above content is for reference only and does not constitute any investment advice.)