A Crypto Blunder, Rising Phone Prices, and WeChat Opens Up to AI

It was a busy day in tech and finance. Here are the most significant stories, from a crypto blunder to a shifting smartphone market and AI integration on popular platforms.

First up is a staggering mistake at South Korean crypto exchange Bithumb. A typo during a promotional campaign led the exchange to accidentally send 620,000 bitcoins (worth more than $40 billion) to 695 customers. Fortunately, the error was caught within 20 minutes, and most of the funds, 99.7%, were recovered. The incident highlights the risk of human error in crypto operations, even on large, regulated platforms.

The second major story involves the smartphone market. In the fourth quarter of 2025, the global average selling price of smartphones topped $400 (about 2946 yuan) for the first time. The driver is "premiumization": consumers are buying fewer devices, but more expensive ones. Manufacturers including Xiaomi, OPPO, vivo, and Honor have already raised prices on their new models. The trend reflects an industry shift in focus from "scaling volume" to "scaling value."

In another notable development, WeChat, the popular Chinese messaging app, has restored the ability to copy code words for the AI bots Qianwen (from Alibaba) and Yuanbao (from Tencent). WeChat had previously blocked the feature, which limited the spread of promotions and features tied to these AI services. Restoring it signals that WeChat is softening its stance on competition with other AI platforms.

Beyond these three headlines, a few other stories are worth noting: annual sales of LABUBU toys passed 100 million units; several banks raised deposit interest rates; Hainan Airlines apologized for a flight that turned back due to a mechanical fault; TikTok is contesting EU accusations of "addictive" design; Elon Musk said the US would go bankrupt without AI; Apple opened its store in the Zhuhai duty-free zone; and OpenAI is in talks with G42 about building a version of ChatGPT for the UAE.

Taken together, these stories point to fast-moving technology and changing consumer behavior. Crypto remains volatile and error-prone, the smartphone market is moving toward pricier models, AI is working its way deeper into everyday life, and companies are looking for new ways to attract and retain customers.