BlockBeats reported on July 25th, citing Bloomberg, that DeepSeek announced the suspension of its second round of financing and verbally notified some potential investors that it would not sign investment agreements as expected. This suspension stems in part from founder Liang Wenfeng's dissatisfaction with the leak of a four-hour internal transcript of his initial financing deal. The transcript contained 52 statements made during an investor meeting, covering DeepSeek's organizational culture, open-source logic, technology roadmap, and views on the competitive landscape. The nearly four-hour meeting transcript has recently gone viral on social media, including statements such as "the biggest gap between AI in China and the US is computing power resources." Neither DeepSeek nor Liang Wenfeng has confirmed the authenticity of the leaked transcript.

DeepSeek stated that it may still choose to resume trading at a later date and has already begun preparations for its initial public offering (IPO), which could be filed as early as this year.

DeepSeek completed its first round of external financing in June 2026, raising over 50 billion RMB (approximately 7.4 billion USD), with a post-investment valuation of approximately 50-59 billion USD. The financing employed a unique structure, with the majority of the funds going to a limited partnership managed by Liang Wenfeng. Investors in this partnership have no voting rights and are subject to a 5-year lock-up period. Liang Wenfeng himself invested approximately 20 billion RMB, making him the largest investor. Other investors included Tencent, CATL, JD.com, NetEase, and the China National AI Fund. DeepSeek subsequently initiated negotiations for a second round of financing in mid-July, targeting a valuation of approximately 71 billion USD.

According to BlockBeats, on July 25, data from Coinglass showed that the Coinbase Bitcoin premium index has been in negative premium territory for 67 consecutive days (since May 19), with the latest value being -0.0708%.

Previously, the index had been in negative premium for 40 consecutive days from January 16 to February 24 this year, setting a record for the longest "negative streak" since the index was launched, exceeding the approximately 30 consecutive days of negative premium during the "1011 crash".

The Coinbase Bitcoin Premium Index measures the difference between the price of Bitcoin on Coinbase and the average price in the global market. A negative premium usually reflects strong selling pressure in the US market, decreased investor risk appetite, increased market risk aversion, or capital outflow.