Former Ethereum developer and ConsenSys global digital asset architect Ejaaz Ahamadeen wrote in a post on X, 'DeepSeek has only accelerated all timelines. We previously accepted the 'fact' that building these products would cost $100 billion and be closed-source, leading to a monopoly.' Then DeepSeek surpassed all leading models at a very low cost and open-sourced this technology, now any AI builder can access this most powerful model. Why isn't anyone talking about how we will see 'better proxies'? The fat app theory becomes more real. This is great for open source AI.

In 2022, Citi's "fat finger" trading error caused the market capitalization of European stocks to evaporate by $322 billion at one point, costing the bank a total of approximately $130 million.

PANews May 22 news, NFT project "Pudgy Penguins" Chief Business Officer Peter announced on X platform that Pudgy Penguins has officially released the plush toy 2.0 design version. The new version of the toy will soon be launched in amusement parks around the world and will eventually enter the retail market with some new characters. Peter said that trying to make plush toys cuter is a huge challenge, but Pudgy Penguins did it. Previously, it was reported that Pudgy Penguins plush toys have sold over one million units in less than a year and have partnered with Walmart, Target, Smiths, and other professional retailers in Asia and around the world.

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The US dollar/yen climbed above 160, reaching a high of 160.201. "Fat Finger" trading: Mizuho Bank stated that the sharp drop in yen during the Asian session on Monday may be due to fat finger trading, indicating extreme speculative behavior in the spot and options markets, as well as high sensitivity to intervention risks by investors. The US dollar/yen plummeted and fell below 155, retracing about 570 points from its daily high. 1. Insufficient liquidity during the holiday: Jishigroup: There's no news about the Japanese authorities conducting a rate check, so there is doubt about official intervention. It is possible that the low liquidity during the holiday exacerbated the decline of the USD/JPY. 2. Profit-taking: Yuu Shin Bank stated that the Japanese authorities have not commented on possible intervention and, combined with insufficient liquidity during the holiday, the market may have accelerated profit-taking after hitting the 160 level. 3. Official intervention: TD Securities stated that the rapid fluctuation of the yen from 160 to 155 indicates that the Japanese authorities have intervened. The timing of the intervention couldn't have been better with the low liquidity during the Japanese holiday. 4. Japanese banks selling US dollars: Japanese bank traders stated that banks in Japan are selling US dollars to settle customer fund flows, and leveraged clients are following suit. This is partly driven by algorithmic platforms.

Sumitomo Mitsui Banking Corporation stated that the sudden decline of the Japanese yen in early Asian trading on Monday highlights the market's increasing nervousness and the possibility of official intervention. Vishnu Athan, the bank's Head of Economics and Strategy in Singapore, suggested that this may be a fat finger trade. This also indicates extreme speculative behavior in the spot and options markets, as well as investors' high sensitivity to intervention risks. In the absence of official intervention, the market appears to be attempting to push the USD/JPY towards 160.