News

Jinse Finance reported that OpenAI is expanding its secondary stock offering by more than $4 billion. According to sources, OpenAI will offer eligible current and former employees the opportunity to sell approximately $10.3 billion worth of shares, a significant increase from the initial target of $6 billion. The source stated that the valuation for this stock offering will reach $500 billion, in line with market expectations. Earlier this year, OpenAI's latest round of financing valued the company at $300 billion. The source also mentioned that OpenAI informed employees of this proposal on Wednesday. Employees who have held shares for more than two years must decide whether to participate in this transaction by the end of September, with the deal expected to be completed in October. Participating investment institutions include SoftBank Group, Dragoneer Investment Group, and Thrive Capital.

According to a report by Jinse Finance citing data and insights from The Block, bitcoin's market dominance has dropped from its peak of 62% to 55%, indicating that the market is entering the early stage of capital rotation from bitcoin to altcoins. Ethereum (ETH) and Solana (SOL) are attracting renewed attention from both institutional and retail investors, while multiple digital asset treasuries are raising funds through publicly traded entities and purchasing assets, providing support for a potential rise in altcoins. The report points out that if the market continues to favor high-risk assets, altcoins could have further upside in the fourth quarter. However, the key lies in whether real spot demand can be formed, rather than relying solely on short-term trends driven by derivatives.