According to CoinGlass data, on March 11, the total liquidation amount in the cryptocurrency market over the past 24 hours reached $205 million, involving both long and short positions. Both BTC and ETH experienced significant liquidations, affecting 95,427 people, with the largest single liquidation valued at nearly $2 million.

AI infrastructure company Nexthop AI completed a $500 million oversubscribed Series B funding round on March 11, valuing the company at $4.2 billion. Investors include several well-known venture capital firms, and the funds will be used to accelerate AI network infrastructure development and launch three new platforms. The team size has exceeded 300 people.

Founder of Shanda, Chen Tianqiao, shares in an exclusive interview the reasons for returning to AI business and his strategic layout, founding the large model company MiroMind, and emphasizing team philosophy and management principles. He has invested in over 100 AI startups and is dedicated to advancing intelligent technology.

National People's Congress Deputy Fu Xiguo submitted a proposal recommending to accelerate the revision of the "People's Bank of China Law," clarifying the legal status of digital RMB and the central bank's core responsibilities to ensure its circulation security and the rights of financial consumers. At the same time, legal regulations should be established to address counterfeiting and tampering behaviors.

Gate News Report, March 11, the midpoint rate of the RMB against the US dollar (the official exchange rate benchmark published daily by the People's Bank of China) rose by 65 basis points to 6.8917, appreciating to the highest level since April 25, 2023.

In the past 24 hours, the total liquidation amount in the cryptocurrency market reached $365 million, with long positions liquidated at $157 million and short positions at $207 million. BTC and ETH were liquidated at $132 million and $70.34 million respectively, with a total of 92,499 people liquidated. The largest single liquidation was $8.083 million.

The AI platform for lawyers, Legora, completed a $550 million Series D funding round on March 10, with Accel leading the investment and several well-known investment institutions participating. Legora focuses on integrating into clients' workflows and currently has 800 law firms using its platform. It plans to open more offices in the future, with a total staff expected to exceed 300 people.

Gate News reports that on March 10th, Procurator-General Yin Yong of the Supreme People's Procuratorate delivered a work report to the Fourth Session of the 14th National People's Congress. The report states that by 2025, prosecutorial agencies will intensify efforts against money laundering, prosecuting 3,259 individuals for crimes involving virtual currencies, underground banks, and other methods. Additionally, efforts will be made to lawfully punish telecommunications and online fraud crimes, with 69,000 people prosecuted.

Gate News Announcement, March 10 — Xiaohongshu Shuguanjia announced that Xiaohongshu is committed to maintaining the authentic nature of the community and strictly prohibits any behavior that uses technical means to simulate real people, create inauthentic content, or engage in false interactions. The platform will regulate accounts operated under AI hosting mode. The announcement also calls on creators to use AI tools responsibly and to continue sharing genuine experiences and feelings through real people. The platform encourages users to report suspected AI-hosted accounts or related content via the report button.

In the past 24 hours, the total liquidation amount in the cryptocurrency market reached $337 million, including $139 million in long positions and $198 million in short positions. Bitcoin and Ethereum experienced corresponding liquidations, affecting a total of 82,853 people worldwide, with the largest single liquidation amounting to $8.083 million.