Is China's AI Sector Behind? Moonshot Plans for IPO After Kimi K3 Rattled Markets | CoinDesk Daily

**Sam Ewen** (0:00)
Michael Saylor calls the Bitcoin blockchain cleanup a bad idea, and Moonshot is heading for an IPO after China's Kimi AI rattled the market. This is CoinDesk Daily.
Lower rates, protected Bitcoin, Ledn's lowest loan rates ever. Check yours at ledn.io. Michael Saylor is pushing back against BIP 110, a proposal to temporarily restrict non-monetary data on the Bitcoin blockchain. The plan would also lower the minor approval threshold from 95% to just 55%.
Saylor, whose firm holds 843,775 Bitcoin worth about 54 billion, published 110 arguments against it. His bottom line, Bitcoin does not need guardians of purity, it needs guardians of neutrality. Moonshot AI is preparing for a Hong Kong listing, just days after its Kimi K3 model rattled semiconductor stocks.
K3 outscored every AI rival except Anthropix's Claude Fable 5 and OpenAI's GPT 5.6. Moonshot is also closing a funding round that could value it above $30 billion, up from $20 billion in May. Realfi, a smarter stablecoin backed by real world assets. Visit realfi.co. And South Korea's central bank is moving closer to a live digital won. The Bank of Korea's CBDC pilot enters its second phase in September, when nine banks will run real transactions on deposit tokens for the first time. South Korea's Ministry of Economy and Finance also plans to classify crypto as a national asset under a law that is seven decades old. Get more updates on coindesk.com. Follow JPEG Trading on X for insights on crypto markets, liquidity and DeFi.