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Moonshot AI files confidential for Hong Kong IPO as Kimi K3 boosts profile; valuation of $50 billion cited

China AI startup Moonshot AI has filed a confidential application for an IPO in Hong Kong, seeking to raise funds for rapid business expansion. Sources said it is targeting a listing as early as the first quarter of 2027, though timing could change depending on regulators and market conditions. The company is also pursuing a final funding round that could value it at about $50 billion. Moonshot AI recently unveiled its flagship Kimi K3 model.

Crypto

Shiba Inu breaks 11-month downtrend, climbs above 200-day moving average

Shiba Inu has moved above its 200-day moving average, ending an 11-month downtrend that began in September last year. It has stabilised in a $3.22 billion to $3.26 billion market-cap band that is shifting from resistance to support. Japan’s Financial Services Agency licensed Nomura-backed Laser Digital and included Shiba Inu among approved institutional assets. A $3.1 billion short squeeze and strong August performance also supported gains.

Crypto

Shiba Inu daily burn rate jumps more than 88 percent as U.S., Japan trading infrastructure expands

Shiba Inu sent 39.23 million SHIB to an inaccessible dead wallet over the past 24 hours, pushing its daily burn rate up more than 88 percent. Weekly burn pace slowed, while market interest held as trading support expanded in the United States and Japan. Over the past seven days, 192.84 million SHIB was burned, though the weekly burn rate fell 38.86 percent. SHIB also posted a sharp short-term rise before entering a support test area.