Hyperliquid Proposal to Cut HYPE Supply
The Hyperliquid community is proposing a significant 45% reduction in the total HYPE supply. This proposal is spearheaded by DBA聯創 (holding a large position) Jon Charbonneau and Flashbots strategy lead Hasu. The plan involves revoking unissued HYPE grants for FECR (Future Community Rewards) and burning all HYPE held or subsequently acquired by the Aid Fund (AF). Additionally, the maximum supply cap of 1 billion HYPE tokens will be removed. This move aims to immediately reduce the total supply and optimize the protocol's financial structure, without impacting existing token holders or the protocol's financial support capabilities.
UXLINK Freezes Majority of Stolen Assets
UXLINK officially announced that it has successfully frozen the majority of stolen assets in collaboration with multiple mainstream exchanges. The company is continuing to cooperate with exchanges and security firm PeckShield to investigate the matter. UXLINK affirms that no user's personal wallets have been affected. The company is currently developing a clear account compensation and recovery plan.
ENA Address Accumulates Significant ENA
According to 餘燼, an address seemingly affiliated with the ENA treasury company (StablecoinX) has been withdrawing and accumulating 73.56 million ENA from exchanges since the 16th, worth approximately $43.88 million. Counterparties to this address include Maven 11 and Dragonfly, both of which are investors in the ENA treasury company.
Machi Faces Heavy Losses on Long Positions
Onchain Lens reported that Machi (singer 黃立成) incurred floating losses exceeding $20 million on his long positions in ETH (15x leverage), HYPE, and PUMP (5x leverage) during the market downturn. To avoid forced liquidation, Machi has closed some positions at a loss.
Gold Hits New Record Highs
Spot gold has surpassed $3,750 per ounce, reaching a new all-time high.
Rainbow Proposes Acquisition of Clanker
The Rainbow Foundation has proposed the acquisition of the Clanker protocol and announced a token distribution plan. SCLANKER holders will receive 4% of the total supply of the new Rainbow token SRNBW (representing approximately 20% of the circulating supply at TGE). All Clanker treasury assets will be airdropped to SCLANKER holders. Rainbow promises to integrate Clanker into its product ecosystem and offer SRNBW rewards for related transactions. Clanker responded that it informed Rainbow last week of its rejection of the acquisition, indicating a disagreement between the parties.
Solana Vault to Tokenize Equity via Superstate
Forward Industries, the largest digital asset vault on Solana, announced that it will tokenize its FORD shares via Superstate's Opening Bell platform. Forward has received support from Galaxy Digital, Jump Crypto, and Multicoin Capital, and completed a $1.65 billion private placement in September. Forward will collaborate with Solana lending protocols Drift, Kamino, and Jupiter Lend, with FORD tokens serving as a new collateral option. Forward also plans to hold equity in Superstate to foster product development between the two companies.
Rainbow Plans RNBW Token Launch
Rainbow plans to launch its RNBW native token for its non-custodial crypto wallet by the end of this year. This move is part of the "Phase 3" roadmap, and previously accumulated Points will be used for subsequent incentives. Rainbow recently upgraded real-time pricing, balance updates, and price chart features, and introduced contract trading supported by Hyperliquid. MetaMask and Coinbase have also revealed plans to issue native tokens.
CleanSpark Secures Bitcoin-Backed Credit Facility
Bitcoin miner CleanSpark has secured a $100 million bitcoin-backed credit facility from Coinbase Prime. CleanSpark will use this credit to expand energy assets, expand Bitcoin mining, and invest in high-performance computing (HPC) businesses. The company claims this move avoids selling Bitcoin or issuing more shares, achieving non-dilutive financing and increasing shareholder value.
Coinbase Adds Centrifuge and TROLL to Listing Roadmap
Coinbase Markets has added Centrifuge (CFG) and TROLL (TROLL) to its asset listing roadmap.
UXLINK Reveals Security Breach
UXLINK disclosed a security breach of its multi-signature wallet, resulting in a large amount of cryptocurrency being illegally transferred to centralized and decentralized exchanges. The team is investigating the cause with internal and external security experts and has immediately contacted major exchanges to freeze suspicious funds. The police and relevant departments have been notified of the incident, and further updates will be provided.
Unauthorized Transfers at UXLINK
According to Cyvers Alerts, a UXLINK-related ETH address removed admin permissions via delegateCall and invoked "addOwnerWithThreshold," resulting in the transfer of approximately $4 million USDT, $500,000 USDC, 3.7 WBTC, and 25 ETH. All USDC/USDT on the Ethereum network were converted to DAI, and USDT on Arbitrum was converted to ETH and cross-chained to Ethereum. Another address received approximately 10 million UXLINK (approximately $3 million), some of which has been converted, with approximately $2.2 million remaining unconverted.
Major Wall Street Indexes Hit New Record Highs
Major U.S. stock indexes closed higher, with the Dow Jones up 0.14%, the S&P 500 up 0.44%, and the Nasdaq up 0.7%, all hitting new record closing highs. Tesla (TSLA.O) rose nearly 2%, and Apple (AAPL.O) rose more than 4%. Nvidia (NVDA.O) rose nearly 4%, reaching a market capitalization of $4.46 trillion.
Nvidia Plans $100 Billion Investment in OpenAI
Nvidia (英伟达) plans to invest up to $100 billion in OpenAI to support the next generation of artificial intelligence data centers and related infrastructure. The two parties have signed a letter of intent, with an initial funding of $10 billion, followed by phased investments for each gigawatt deployed. The project aims to build data centers with a capacity of at least 10 gigawatts, using Nvidia's advanced chips. Nvidia will receive an equity stake in OpenAI.
Vitalik Buterin Endorses Base
Vitalik Buterin affirmed that Base, as an Ethereum Layer 2, uses centralized features to improve user experience while relying on Ethereum's decentralized foundation for security. Base does not custody user funds and cannot steal or prevent withdrawals, and the relevant security mechanisms have been verified through the L2beat platform. Vitalik added that users can automatically withdraw funds when L2 is closed, and operators cannot unilaterally review or steal assets.
21Shares Dogecoin ETF Listed
The 21Shares Dogecoin ETF has been listed on the Depository Trust & Clearing Corporation (DTCC), under the ticker symbol TDOG.
Worldcoin Team Moves Large Amounts of WLD
The Worldcoin team moved 110 million WLD ($144 million) from the Ethereum mainnet. 85 million WLD ($111 million) was cross-chained to World Chain, and 25 million WLD ($32.75 million) was transferred to Kraken.
LayerZero Buys Back ZRO
The LayerZero Foundation acquired 50 million ZRO from early investors, representing 5% of the total token supply. This is LayerZero's second buyback this year after a16z Crypto's investment in April.
Tether Mints Additional USDT
Tether Treasury minted an additional 1 billion USDT on the Ethereum network.
Sky Implements Penalties for Late MKR Upgrades
Sky (formerly MakerDAO) announced that penalties for late upgrades are now in effect. A 1% penalty fee is applied to all operations that upgrade MKR to SKY. The penalty fee will increase by 1 percentage point every three months.
Coinbase Launches Mag7+Crypto Stock Index Futures
Coinbase announced that Mag7+Crypto Stock Index Futures are now available. These futures are offered by Coinbase Derivatives, and retail and institutional traders can purchase them through approved FCM partners.
Portal to Bitcoin Announces Mainnet Launch Date
Portal to Bitcoin announced its mainnet launch date to be October 13, 2025.
Task Force Created for Regulatory Collaboration
The UK and the US created a special task force to explore regulatory collaboration on digital assets. The task force will focus on potential areas for collaboration and the implementation of solutions in the regulatory spaces.
Account Opening Channels Closed
Online brokerages Futu Securities and Tiger Securities closed account opening channels for mainland China residents.
Federal Reserve Official Expresses Hesitation
Atlanta Federal Reserve President Raphael Bostic expressed hesitation in supporting further interest rate cuts in October due to inflation concerns.
Paypal Invests in Blockchain Network
Paypal is investing in a stablecoin-focused Layer 1 blockchain network, Stable, to expand the issuance, utility and liquidity of PYUSD.
Plasma One to Launch New Banking Services
Plasma plans to launch its new banking services, Plasma One, sometime after its stablecoin blockchain mainnet beta goes live later this month. Supports rewards on spending, rewards on balances and supports international payments.
Abraxas Capital Withdraws BTC
Abraxas Capital withdrew BTC from Binance.
Strive Announces Acquisition of Semler Scientific
Strive, Inc. announced the acquisition of Semler Scientific through an all-stock transaction. The company has also purchased Bitcoin to add to the company treasury.
Strategy Increases BTC Holdings
Strategy (formerly MicroStrategy) revealed it has increased its BTC holdings.
Circuit & Chisel Raises Funding
Circuit & Chisel, founded by former Stripe executives, raised funding to develop the AI agent payment protocol ATXP.
Helius Begins Purchasing SOL
Helius Medical Technologies, Inc. began purchasing Solana (SOL) tokens as part of its digital asset treasury strategy.
AgriFORCE Intends to Transform
AgriFORCE Growing Systems announces its transformation into an AVAX treasury strategy.
Cardless Raises Funding
Cardless, a Coinbase credit card partner, raised funding.
CEA Industries Files Registration Statement
BNB Treasury Company CEA Industries filed a $500M PIPE registration statement.
ZOOZ Shareholders Approve Treasury Strategy
ZOOZ Power Ltd. shareholders approved the $180 million private placement and Bitcoin treasury strategy.
BitMine Plans Registered Direct Offering
Ethereum Treasury BitMine plans a registered direct offering for over $365 million.
Trend Research Withdraws ETH from Binance
Trend Research withdrew ETH from Binance.
Binance Alpha Lists GAIN, XAN
Binance Alpha will list GriffinAI (GAIN) and Anoma (XAN).
B HODL Listed in UK
B HODL listed in the UK to launch Bitcoin Treasury strategy.
GIGGLE Holders Realize Profits
GIGGLE top holders realized profits.
Whales Buy ETH via Wintermute
Wales/Institutions bought ETH via Wintermute.
These updates provide a snapshot of the dynamic cryptocurrency landscape, characterized by technological innovations, strategic moves by companies and investors, and regulatory challenges and security risks.
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