Robinhood CEO’s official Twitter account posts suspicious messages, suspected of being hacked.
Robinhood CEO Vlad Tenev’s X account was reportedly hacked, leading to an abnormal post published in the early morning that announced the launch of Robinhood Chain’s so-called "official" mascot token Vladhood (VLAD), along with the token’s contract address. The token’s contract page was later flagged as "SCAM" in the Robinhood Chain block explorer, alerting users to potential fraud risks. The post has since been removed.
2 hours ago
AMD saw a short-term drop of more than 5%, while Helios has entered full-scale production and is nearing shipment.
According to market data from BIT (bit.com), AMD (AMD.O) shares have fallen to an intraday low, currently down 4.72%, after earlier rising 0.66%. AMD CEO Lisa Su just announced the launch of the Helios AI server full rack, noting that Helios has entered full-scale production and will begin shipping soon; the MI450 AI accelerator will become the industry's highest-performance AI accelerator.
2 hours ago
SpaceX has released the live stream page for its 13th Starship flight, with today’s launch probability currently reported at 64%.
According to PolyBeats' monitoring, SpaceX has just released the official live stream page for its 13th Starship flight test, which lists the live stream start time as 6:14 AM (UTC+8) on the 24th. On prediction market Polymarket, the "yes" probability for the question "Will SpaceX launch Starship today (local time 23rd)?" is currently at 64%, while the probability of a launch this month stands at 91%. Starship Flight 13 previously aborted automatically roughly 1 second before clearing the launch pad on the morning of July 17. The U.S. Federal Aviation Administration (FAA), in its latest operational plan released today, continues to list SpaceX’s 13th Starship flight test as a scheduled task for the day. Flight 13 is now targeted for launch as early as 17:45 local time in Texas, or 06:45 Beijing time on July 24, with a 90-minute launch window extending to 08:15 Beijing time. Real-time data from Next Spaceflight shows all 19 launch preparation conditions—including rocket testing, stacking, airspace notices, and maritime warnings—have been completed, with no new technical faults or delay announcements reported to date. --------------------------------- Be among the first to glimpse the future. Follow @PolyBeats_Bot See tomorrow, today. Follow @PolyBeatsEN
2 hours ago
Citrini’s view: Bullish on AMD, bearish on NVIDIA. Coding AI is eroding NVIDIA’s competitive moat from the software side, marking the end of its CUDA moat.
Citrini analyst Jukan, citing recent core views from DeepSeek founder Liang Wenfeng, pointed out that AI-driven code generation and high-level programming languages like TileLang are rapidly lowering entry barriers to the CUDA ecosystem. While DeepSeek uses NVIDIA GPUs to train its V3 model, it has significantly reduced its reliance on NVIDIA’s software ecosystem via its self-developed compiler and TileLang environment. Earlier, Liang projected that porting TileLang and DeepSeek’s compiler to Huawei chips would largely resolve China’s chip ecosystem issues in about a year, with production capacity being the only remaining bottleneck. Liang quantified the China-U.S. chip gap: hardware efficiency is roughly four times lower, and there is a roughly two-year time lag. He also revealed that DeepSeek is working closely with Huawei, expecting to obtain around 16,000 Huawei AI chips, and the Huawei 950 SuperNode can replace the workloads of NVIDIA’s GB200/GB300. Analyst Jukan characterized this as "the end of CUDA’s moat" and holds a highly bearish outlook on NVIDIA. Jukan added that this line of reasoning is precisely one reason for being bullish on AMD: advances in coding AI will also naturally accelerate the development of the ROCm ecosystem, helping narrow its gap with CUDA. When AMD recently invested in Anthropic, it announced it would actively use Claude Code for chip design and software engineering. Overall, advances in AI programming tools are systematically eroding NVIDIA’s competitive barriers from the software side. China’s chip ecosystem issues will be rapidly resolved thanks to code generation capabilities, while AMD will benefit from ROCm’s accelerated growth. The CUDA moat NVIDIA relies on to retain developer loyalty is facing a two-pronged attack, and catching up in hardware efficiency and production capacity is only a matter of time.
2 hours ago
AMD: AI Accelerator Market to Reach $1.4 Trillion by 2030
AMD CEO Lisa Su stated that the AI accelerator market is projected to reach $1.4 trillion by 2030. AI accelerators are specialized hardware designed for AI computing tasks such as matrix operations in deep learning, capable of processing massive parallel workloads with far higher efficiency and energy efficiency than traditional CPUs. Mainstream types include NVIDIA GPUs and custom ASICs from vendors like Broadcom, which serve as the core computing backbone driving large model training and inference.
2 hours ago
Data: Approximately 75% of BMEX tokens have never been claimed or put into circulation, with only 8% allocated at the time of listing.
On-chain visualization analytics platform Bubblemaps noted that after BitMEX announced it would officially cease operations in September, its platform token BMEX plummeted by roughly 95% today. However, per the token economics model released in 2021, 92% of BMEX tokens are locked in vesting contracts, with only 8% allocated at launch — 5% via airdrop and 3% for product and liquidity purposes. On-chain data shows the only token withdrawal occurred on November 2, 2022, when the product and liquidity address received 63.75 million BMEX. Meanwhile, approximately 75% of tokens originally earmarked for employee incentives, ecosystem growth, and long-term reserves have never been withdrawn and have never entered circulation. Bubblemaps added that this is not necessarily a violation, but per the publicly disclosed allocation plan, these large portions of tokens have indeed never been actually distributed. BlockBeats previously reported that notably, the platform’s current handling of BMEX tokens is very limited, with no additional compensation or special arrangements. The only action explicitly mentioned in BitMEX’s official shutdown announcement today is that the platform has immediately unstaked all staked BMEX tokens and returned them directly to holders’ accounts. Per BitMEX’s earlier announcement, BMEX is a pure platform utility token, not equity, debt, or an asset with promised returns. The official disclaimer states that BMEX is only used for features such as trading fee discounts and staking rewards on the BitMEX platform, does not constitute an investment, and the platform assumes no refund or exchange liability.
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Paxos says the SEC has ended its investigation into BUSD without recommending an enforcement action, giving the stablecoin sector a rare piece of regulatory relief in the United States.
For more details, visit the official Paxos platform.
TL;DR Paxos says the SEC will not recommend enforcement in its BUSD investigation.The decision removes a major legal question around one of the market’s former top stablecoins.The closure comes as stablecoin regulation is becoming more formal in the U.S. and Europe. The BUSD case mattered because it sat at the intersection of stablecoin issuance, exchange branding, and U.S. securities law. If regulators had pushed a broad enforcement theory, it could have complicated the entire stablecoin market.
A Cleaner Outcome For Paxos Paxos framed the closure as confirmation that its dollar-backed stablecoin activity should not have been treated as a securities violation. That does not create a universal safe harbour for every issuer, but it does weaken the idea that regulated fiat-backed stablecoins automatically belong in the same bucket as speculative tokens.
The decision also lands at a moment when stablecoins are being pulled into clearer legal frameworks. Europe is already enforcing MiCA rules. U.S. lawmakers continue to debate stablecoin legislation. Issuers want clarity, but they also want to avoid regulation through enforcement.
What It Means For The Market BUSD itself is no longer the giant it was during Binance’s peak stablecoin push. The bigger point is precedent and tone. A closed investigation tells the market where the SEC chose not to go, and that can be almost as important as where it chooses to act.
For stablecoin issuers, the message is not that risk has disappeared. Reserve structure, disclosures, redemption rights, and distribution partners still matter. But Paxos now has one of the cleaner outcomes the sector could have hoped for: a formal end to a high-profile probe without an enforcement recommendation.
This article is based on information from Paxos.
This article was written by the News Desk and edited by Samuel Rae.
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BUSD and USDP issuer Paxos have come under New York regulators’ radar. Although there is no specific reason for the investigation, reports revealed that the New York Department of Financial Services (NYDFS) launched a probe into Paxos’ operations.
According to a recent report, someone familiar with this matter said the regulators are yet to clarify the reason behind the sudden investigation.
Why Is Paxos Under Investigation? While speaking to Bloomberg, a spokesperson for NYDFS refused to deliver a specific comment regarding the ongoing investigation. But they said the probing is part of the department’s initiative to protect consumers from the risks in cryptocurrency investments.
The spokesperson claims that NYDFS wants to understand the vulnerabilities and risks consumers and institutions might face from crypto market volatility.
Paxos became the issuer of BUSD, a dollar-pegged stablecoin, after its partnership with Binance in September 2019. BUSD is the third-largest stablecoin by market capitalization. Paxos is also the issuer of USDP (Paxos Dollar), launched in 2018, and the developer of PAX Gold (PAXG), a gold-pegged Ethereum token. According to data from CoinGecko, USDP is currently the sixth-largest stablecoin by market cap.
Paxos has been in the cryptocurrency business since 2012. That was when the firm started and launched itBit, a crypto exchange. The firm obtained its BitLicense (a New York-issued license for crypto service providers) from NYDFS in 2015, granting it legal permission to carry out cryptocurrency-related operations in New York.
Earlier, rumors circulated that the US office of the Comptroller of the Currency (OCC) might ask Paxos to withdraw its application for a full banking charter even though it obtained preliminary approval in April 2021.
However, on February 9, 2023, Paxos debunked these rumors, clarifying that it did not refuse any such order from the OCC. The firm also claimed its BUSD and USDP token reserves have 100% collateral in US dollars and Treasuries.
Paxos is seemingly a compliant firm since it has a BitLicense. So the news of its investigation by the NYDFS comes as a surprise in the crypto space.
The recent regulatory probing of the stablecoin issuer by the NYDFS may be linked with the regulator’s new regulatory guidance. However, it is still uncertain since the regulators, Binance, and Paxos have not commented on the matter.
NYDFS Previous Regulatory Activities In Cryptocurrency Space Paxos’ investigation isn’t the first move in the crypto industry by the New York regulator. Over the past year, the NYDFS has launched investigations on some crypto firms, including Coinbase.
Cryptocurrency market following bitcoin crash | Source: Crypto Total Market Cap on TradingView.com On January 4, the regulator launched an enforcement action on Coinbase, alleging that the exchange had 100,000 alerts regarding suspicious user transactions. As such, the NYDFS mandated the crypto exchange to pay a $100 million fine for NY financial services and banking laws violations and compliance deficiencies.
Featured image from Pixabay and chart from Tradingview.com
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SponsoredUpdated Feb 16, 2023, 4:23 p.m. Published Feb 13, 2023, 12:23 a.m.
2 min read
The U.S. Securities and Exchange Commission (SEC) intends to sue stablecoin issuer Paxos, which is behind the Pax dollar (USDP) and Binance USD (BUSD) tokens, over the latter stablecoin, the Wall Street Journal reported Sunday.
An SEC spokesperson told CoinDesk the commission does not comment on the existence or nonexistence of a possible investigation.
The SEC is alleging that BUSD is an unregistered security, according to the report. The news comes days after CoinDesk reported Paxos is under investigation by the New York Department of Financial Services, although the scope of NYDFS' investigation is unclear.
BUSD is a Binance-branded stablecoin issued by Paxos, a New York-regulated trust company that also enjoys a provisional charter from the Office of the Comptroller of the Currency, a federal bank regulator.
Following the news of SEC's intentions, Paxos said it would halting the minting of new BUSD tokens.
A Binance spokesperson told CoinDesk: “BUSD is a stablecoin wholly owned and managed by Paxos. As a result, BUSD market cap will only decrease over time. Paxos will continue to service the product, manage redemptions, and will follow-up with additional information as required. Paxos also assured the funds are safe, and fully covered by reserves in their banks.
“Given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from further undue harm."
Sunday's news comes right after the SEC settled charges with crypto exchange Kraken, when the regulator alleged its staking services were an offering of unregistered securities. Kraken did not admit or deny the charges under the terms of the settlement, but did shut down all of its U.S. staking programs.
Binance acknowledged last month that it had not always maintained the proper balance to back Binance-Peg BUSD (PBUSD), a wrapped version of BUSD offered on non-Ethereum networks that is backed by BUSD. After Bloomberg reported that there were issues with how PBUSD's backing was displayed, Binance said "on occasion in the past, there was a timing mismatch in backing Binance-Peg BUSD with BUSD." The crypto exchange claimed in a blog post that while there were issues in "the publicly viewable data," user redemptions were not affected.
UPDATE (Feb. 13, 2023 0:35 UTC): Updates with Binance blog post from January in final paragraph.
Binance CEO Changpeng Zhao (“CZ”) has commented on Twitter about the Department of Financial Services’ (NYDFS) directive to Paxos Trust Co. to stop minting new BUSD. As reported by the Wall Street Journal today, Paxos will continue to manage redemptions of the product.Existing BUSD’s remain fully-backed and redeemable through at least February 2024.
CZ explained that Paxos is regulated by the NYDFS and BUSD is a stablecoin wholly owned and managed by Paxos. As a result, BUSD’s market capitalization will only decrease over time.
Regarding the alleged lawsuit filed by the U.S. Securities and Exchange Commission against Paxos, the Binance CEO has no inside information, although CZ did announce product changes on Binance regarding BUSD.
Binance CEO Is Puzzled Rumors are currently circulating in the crypto community that U.S. authorities SEC and NYDFS could target stablecoins, attacking a cornerstone of the crypto ecosystem. Crypto journalist Frank Chaparro tweeted:
SEC is on an absolute warpath. […] I wouldn’t be surprised if they are reviewing USDC, specifically. One senior executive at an exchange told me a few days ago that the SEC was effectively embarking on its own crypto version of the ‘Night of the Long Knives.’
Whether the situation is really as dramatic and U.S. authorities want to put an end to stablecoins per se, remains to be seen and is not really clear at the moment. Binance CEO Zhao, for example, said that while he is “not an expert on U.S. laws,” but agrees with Miles Deutscher’s opinion in a tweet that stablecoins cannot be a security themselves.
“The SEC has labeled BUSD as an ‘unregistered security,’ and is suing its issuer, Paxos. But how on earth is a STABLECOIN considered a security, when it clearly doesn’t meet the Howey Test criteria. No one has ever had ‘the expectation of profit’ when buying BUSD,” Deutscher wrote.
Are US Authorities Starting A War On Stablecoins? This argument will be difficult for the SEC to refute, which illustrates that the U.S. Securities and Exchange Commission may not have a problem with stablecoins per se, but with the issuers’ interest products.
This is further evidenced by the SEC suing Kraken over its interest product, which was not a “true on-chain” staking product, as Coinbase CEO Brian Armstrong explained. Another hint is that Paxos’ USDP stablecoin is not included in the announcement, and that the SEC’s crackdown on BUSD may be solely related to its deposit and interest product.
And Circle has a similar product that earns interest. Presumably that’s why the USDC issuer could come under SEC scrutiny, but not because of the stablecoin itself.
It is hard to imagine how a stablecoin can be classified as a security, otherwise the US dollar would have to be. But since Paxos and Circle operate on U.S. soil and offer interest products, they are easy targets for U.S. authorities.
Therefore, the current news and rumors must be considered carefully. Nevertheless, the attack by the U.S. authorities is of course a risk that stablecoin issuers will have to cope with.
In the long run, however, the current situation should pass and stablecoins should continue to flourish and serve as a cornerstone of the crypto ecosystem, even in the US.
At press time, Bitcoin was dragged down by the news and traded at $21,560. For the moment, BTC was able to stay above the support at $21,465 in the 1-hour chart, although the price saw a dip to a new February low at $21,429.
Bitcoin price, 1-hour chart | Source: BTCUSD on TradingView.com Featured image from Edwin Hooper / Unsplash, Chart from TradingView.com
Binance Coin (BNB), created and issued by the exchange Binance has suffered a massive drop in its price action. The crash follows an investigation from the U.S. Securities and Exchange Commission (SEC) against crypto firm Paxos, which supports Binance stablecoin’s BUSD.
According to a report by The Wall Street Journal, the SEC has told crypto firm Paxos that it plans to sue the company for “violating investor protection laws.” This investigation follows a last week’s settlement with crypto exchange Kraken over its staking program in what appears to be a regulatory escalation against the industry.
BNB Affected By The Ongoing SEC Enforcement Actions The US government’s watchdog has told Paxos in a Wells Notice that Binance USD is an unregistered security. SEC Chairman Gary Gensler has stated on several occasions that crypto companies must provide “full disclosure information about their financial products.”
The New York State Department of Financial Services (NYDFS) ordered Paxos in a blog posted on the official page to cease minting Paxos-issued BUSDs due to “several unresolved” issues related to Paxos’ oversight of its relationship with Binance for Paxos-issued BUSDs.
The Department of Financial Services is currently monitoring Paxos to verify the company’s redemption in an “orderly fashion subject” to enhance risk-based compliance protocols.
Paxos has informed its customers that it will no longer be minting new BUSD tokens. The regulated blockchain and tokenization infrastructure platform recently announced that it would end its relationship with Binance for the BUSD-branded stablecoin.
Effective February 21, Paxos will cease issuing BUSD tokens in close coordination with the New York Department of Financial Services. The firm stated the following in a blog post:
Paxos has always prioritized the safety of its customers’ assets. That was true at our founding and remains true today. BUSD will remain fully supported by Paxos and redeemable to onboarded customers through at least February 2024. New and existing Paxos customers will be able to redeem their funds in US dollars or convert their BUSD tokens to Pax Dollar (USDP), a regulated US dollar-backed stablecoin also issued by Paxos Trust.
In this matter, Binance CEO Changpeng Zhao “CZ” has addressed the case on social media Twitter, stating that as a result of Paxos’s recent decision against issuing BUSD, the token’s market cap will only decrease over time.
In addition, CZ said that he foresees users migrating to other stablecoins over time. For CZ, If BUSD is ruled as a security by the U.S. courts, it will have a profound impact on how the crypto industry will develop or not in the jurisdictions it’s ruled as such. The Binance CEO stated:
Given the ongoing regulatory uncertainty in certain markets, we will be reviewing other projects in those jurisdictions to ensure our users are insulated from any undue harm.
BNB retracement in the four-hour chart. Source: BNBUSDT TradingView BNB is currently trading at $285.9, representing a decline of over 11% in the last 24 hours and 13% in the last seven days.
After the latest news, BNB’s price has plummeted, and if it fails to hold the support at the $260 level, it may face a further retracement to the $219 level, which could operate as the next support line for the Binance token.
Featured image from Unsplash, chart from Tradingview.
TUSD and USDP gained popularity in market share, with TUSD leading the race. The mean dollar invested age, market capitalization, and exchange reserve metrics show TUSD and USDP’s steady growth. Recently, the stablecoin market experienced significant changes, creating an opportunity for other stablecoins, such as Pax Dollar [USDP] and TrueUSD [TUSD], to grab the market share. Since Binance’s [BUSD] decline following CFTC’s allegations, there has been a vacancy at the top of the list. Which of these stablecoins can take over the top spot?
USDP and TUSD mean dollar invested declines According to recent findings from Santiment, TUSD, and USDP have been significantly impacting the stablecoin market of late. The data revealed that TUSD’s mean dollar invested age stood at 159.39 at press time, the lowest it had been in the past 14 months. Similarly, the mean dollar invested age for USDP was 78.75, representing the lowest figure in the past 21 months.
Source: Santiment A high mean dollar invested age in the stablecoin market could be a positive sign, indicating that investors were confident in the long-term potential of cryptocurrencies and were holding onto them for extended periods. It could also imply a limited supply of sellers, leading to increased prices.
In contrast, a low mean dollar invested age may indicate new investors entering the market, driving the demand for stablecoins.
USDP and TUSD market capitalization CoinMarketCap‘s data revealed that TUSD had a robust market presence at press time, with a market cap exceeding $2 billion and a 24-hour trading volume over $531 million. During this time, TUSD ranked as the 13th-largest coin by market cap and the fifth-largest stablecoin by market cap. Interestingly, TUSD’s 24-hour trading volume surpassed that of Maker [DAI], despite DAI being the fourth-largest stablecoin by market cap.
In contrast to TUSD, USDP had a relatively smaller market presence, with its market cap exceeding $877 million and a 24-hour trading volume of over $22 million. USDP ranked as the 58th-largest coin by market cap and the sixth-largest stablecoin by market cap. While USDP’s press time market cap was impressive, its lower 24-hour trading volume suggested it may not be as actively traded as other stablecoins.
Analyzing the exchange reserve Exchange reserve is another important metric that indicates the popularity of stablecoins in the crypto space. According to CryptoQuant, USDP’s exchange reserve had seen mixed fortunes, but it has recently been on an uptrend, reaching over 115 million as of this writing.
Source: CryptoQuant CryptoQuant’s data further suggested that TUSD has had a better exchange reserve run than USDP. The stablecoin’s exchange reserve has been relatively steady since its rise in January, with its press time value exceeding 513 million. This indicated that TUSD was being traded actively and held by investors on exchanges at the time of writing, reflecting its growing popularity in the crypto market.
Source: CryptoQuant Additionally, the growth of this metric meant that more investors were using these stablecoins to trade, indicating their importance as a reliable trading pair.
TUSD leads the stable race… for now The current regulatory issues surrounding BUSD and the recent bank run that impacted USDC have led investors to look for alternative stablecoins that offer greater stability and security. In this context, TUSD and USDP have emerged as potential contenders for the top spot among stablecoins.
However, based on the metrics discussed earlier, TUSD is better positioned to take the top spot if it becomes available. TUSD’s higher market cap and trading volume, coupled with its steady growth in exchange reserve, suggest it has a more established presence in the stablecoin market.
In contrast, while USDP has shown growth in some metrics, it may not be as established as TUSD.
The MakerDAO community has voted to ditch Pax Dollar (USDP) stablecoin worth $500 million from its reserves. Maker’s treasury holds roughly half of the USDP’s $1 billion supply. New York state regulators in February forced Paxos to halt minting Binance USD (BUSD) stablecoin. The decentralized finance (DeFi) lending protocol MakerDAO’s community has voted to drop the $500 million worth of USDP stablecoin from its reserves. This is a major blow to the Pax Dollar (USDP) stablecoin since the lending protocol held half of the USDP token supply.
In total, there is a $1 billion USDP token supply and after the vote, Maker will remove all the 500 USDP tokens from its reserves.
After dropping the USDP, MakerDAO, which is the issuer of the $5 billion DAI stablecoin and the governing body of Maker, which is one of the largest lending protocols in DeFi, will boost its revenues by investing its vast reserves in yield-generating strategies.
Examples of the yield-generating strategies that MakerDAO will invest in include Gemini, which pays an incentive to MakerDAO for holding its stablecoin, the GUSD. MakerDAO is also primed to earn a 2.6% yield on the $500 million of USDC it holds from Coinbase Prime.
Impact on the embattled Paxos Paxos was in February forced by New York state regulators to halt minting Binance USD (BUSD) stablecoin. Since then, the market cap of the BUSD stablecoin has drastically declined from $16 billion to $5 billion according to data from Coingecko.
Although the Pax dollar metrics remained largely unaffected, the MakerDAO move has a significant impact on Paxos as a company.
The MakerDAO community argued that the USDP did not accrue any revenue for MakerDAO, something that hurt its capital efficiency as it plans to increase the rewards rate for DAI savings.
TLDR:Binance Pushes BackStakes and ContextGet 3 Free Stock Ebooks Binance faces $1.76B clawback claim over FTX’s 2021 share repurchase using customer funds. Zhao argues Delaware courts lack jurisdiction due to his UAE residence and offshore entities. Binance cites safe-harbor rules for securities transfers to counter FTX’s fraud claims. The case could define U.S. bankruptcy reach over global crypto transactions and offshore gains. Binance is locked in a fierce legal fight. FTX’s estate is demanding nearly $1.8 billion back. The claim centers on a 2021 share repurchase. Binance’s founder, Changpeng Zhao, has filed to drop the case. The stage is set for a jurisdictional showdown.
FTX Digital Markets Ltd. alleges that in July 2021, Binance and Zhao benefited from a $1.76 billion fraudulent transfer. That deal came via Alameda Research, using FTT, BNB, and BUSD tokens.
At the time, Alameda was insolvent and funded the deal with customer funds. It makes up the core of the clawback suit.
The trust argues both constructive and intentional fraud under U.S. Bankruptcy Code sections. They claim the transaction was part of Bankman‑Fried’s broader scheme to misappropriate deposits.
Binance Pushes Back Zhao filed a motion in Delaware bankruptcy court on August 4, 2025. He argues the court lacks jurisdiction over him. He lives in the UAE, not Delaware or the U.S. The trust’s claims, he says, are “so far removed” they fall outside legal reach.
Zhao calls himself a “nominal counterparty.” He insists the entity structure and offshore routing place the transfer outside U.S. law. He also contests that FTX’s lawsuit misapplies safe‑harbor protections tied to securities transfers.
FTX’s filing frames Alameda’s payment as knowingly improper. Caroline Ellison later testified they lacked resources and used customer deposits anyway. Bankman‑Fried dismissed those concerns and pushed ahead. The asset backing of the share repurchase was illusory from the start.
Binance counters that the structure was internationally executed. Its firms reside in Ireland, the Cayman Islands, and BVI. The trust cannot allege Zhao was ever legally “at home” in Delaware. Serving U.S. counsel on him, they argue, violates rules for foreign defendants.
Stakes and Context FTX was once a top exchange. Its collapse wiped out over $8 billion in customer deposits. The trust is now trying to claw back funds tied to senior executives and outside parties. This suit is a key part of that effort.
Zhao faces past legal issues too. He served four months in prison for U.S. anti‑money‑laundering violations. Bankman‑Fried is serving 25 years for fraud. Their dueling motions now focus on this civil liability fight over jurisdiction and fault.
This case will test whether U.S. bankruptcy courts can reclaim offshore crypto gains tied to alleged bankruptcy fraud. Binance insists the suit fails on technical and jurisdictional grounds. Meanwhile, FTX’s estate pushes forward, seeking major recovery for creditors. Investors and crypto watchers should watch closely.
New York's financial regulator fined Paxos $26.5 million for compliance failures linked to its past partnership with Binance.Paxos agreed to invest an additional $22 million to enhance its compliance program to meet NYDFS standards.The compliance issues also included inadequate monitoring for illicit activity and a deficient Know Your Customer (KYC) program.New York’s top financial regulator has fined Paxos, a New York City-based stablecoin issuer, $26.5 million for “systemic failures” in its compliance and anti-money laundering programs, including a past partnership with global crypto exchange Binance, according to a Thursday announcement.
In addition to the fine, Paxos agreed to spend another $22 million improving its compliance program to bring it up to snuff with the New York Department of Financial Services’ (NYDFS) standards.
“The Department of Financial Services has led the nation in regulating the virtual currency industry, protecting consumers and markets through examinations, supervision, and where necessary, enforcement,” NYDFS Superintendent Adrienne Harris said in a press statement. “Regulated entities must maintain appropriate risk management frameworks that correspond to their business risks, which includes relationships with business partners and third-party vendors. The Department continues taking significant steps to ensure accountability, in turn protecting consumers and safeguarding the integrity of the financial system.”
The compliance failures identified by NYDFS were largely tied to Paxos’ one-time partnership with Binance, the world’s largest crypto exchange. The two companies teamed up in 2019 to issue Binance’s dollar-pegged stablecoin, BUSD. The relationship with Binance eventually landed Paxos in hot water: in 2023, NYDFS launched an investigation into Paxos’s issuance of BUSD, the U.S. Securities and Exchange Commission (SEC) sent Paxos a Wells notice informing the company of its intention to sue (a year later, the SEC decided to drop its enforcement action) and Paxos ultimately decided to stop issuing BUSD altogether at the order of NYDFS.
The fine announced Thursday is tied to NYDFS’ original investigation. According to NYDFS’ press release, the investigation revealed that Paxos didn’t have appropriate controls in place to effectively monitor for illicit activity occurring through Binance. And when illicit activity was identified, the regulator said, the company “failed to escalate red flags” to Paxos’ higher-ups and board members.
In addition to the Binance-related compliance issues, NYDFS said its investigation into Paxos turned up other deficiencies in its compliance program, including an “unsophisticated” Know Your Customer (KYC) program that allowed illicit actors to open multiple accounts and remain undetected, and a “deficient” transaction monitoring system that prevented Paxos from “detecting obvious patterns of money laundering.”
A representative for Paxos described the compliance failures identified by NYDFS as “historical issues that were identified over two and a half years ago and have since been fully remediated.” The issues, the representative added, “had no impact on customer accounts and there was no consumer harm.”
“This marks the resolution of this matter and we are pleased to put it behind us,” the representative said. “There are no new claims regarding Paxos’ relationship with Binance or the issuance of BUSD, and Paxos’ other white-labeled stablecoins operate on similar models with different partners and have not faced any regulatory issues.”
TLDR New York regulator fined Paxos $26.5 million for compliance failures related to its Binance partnership Paxos agreed to invest an additional $22 million to improve its compliance program Issues included inadequate monitoring for illicit activity and deficient KYC procedures NYDFS found approximately $1.6 billion in illicit flows between Binance and Paxos via BUSD Paxos states these were “historical issues” that have been “fully remediated” Paxos, a New York-based stablecoin issuer, has reached a $48.5 million settlement with the New York Department of Financial Services (NYDFS) over compliance failures related to its past partnership with cryptocurrency exchange Binance.
The settlement, announced on August 7, 2025, requires Paxos to pay a $26.5 million fine to New York state. The company has also committed to investing an additional $22 million to overhaul its compliance program.
The regulatory action stems from Paxos’ partnership with Binance, which began in 2019 when the two companies collaborated to issue Binance’s dollar-pegged stablecoin, BUSD. According to the NYDFS investigation, Paxos failed to implement proper controls to monitor illicit activity occurring through Binance.
NYDFS Superintendent Adrienne Harris emphasized the importance of risk management in a press statement.
“Regulated entities must maintain appropriate risk management frameworks that correspond to their business risks, which includes relationships with business partners and third-party vendors,” Harris said.
The regulator identified several specific compliance failures in its investigation. When illicit activity was detected, Paxos reportedly “failed to escalate red flags” to higher-level executives and board members within the company.
Compliance Shortcomings Beyond the Binance-related issues, NYDFS discovered other deficiencies in Paxos’ compliance infrastructure. The company’s Know Your Customer (KYC) program was described as “unsophisticated,” allowing bad actors to open multiple accounts without detection.
NYDFS also criticized Paxos’ transaction monitoring system as “deficient,” stating it prevented the company from “detecting obvious patterns of money laundering.” The regulator found approximately $1.6 billion in illicit flows between Binance and Paxos through the BUSD stablecoin.
This settlement resolves an investigation that began over two years ago. In February 2023, NYDFS ordered Paxos to stop issuing BUSD altogether. Around the same time, the U.S. Securities and Exchange Commission (SEC) sent Paxos a Wells notice indicating its intention to sue the company.
The SEC later dropped its enforcement action against Paxos in 2024. The regulator had initially accused Paxos of distributing “unregistered securities” and violating consumer protection laws through its Binance partnership.
Regulatory Timeline The regulatory scrutiny of Paxos intensified in early 2023 when both the SEC and NYDFS took action against the company within days of each other. NYDFS stated that while it had authorized Paxos to issue BUSD on the Ethereum blockchain, it had not authorized “Binance-Peg BUSD” to be issued on any blockchain.
A representative for Paxos described the compliance failures identified by NYDFS as “historical issues that were identified over two and a half years ago and have since been fully remediated.” The spokesperson added that these issues “had no impact on customer accounts and there was no consumer harm.”
“This marks the resolution of this matter and we are pleased to put it behind us,” the Paxos representative stated. “There are no new claims regarding Paxos’ relationship with Binance or the issuance of BUSD, and Paxos’ other white-labeled stablecoins operate on similar models with different partners and have not faced any regulatory issues.”
The NYDFS action against Paxos comes amid increasing regulatory oversight of the cryptocurrency industry, with anti-money laundering regulations and KYC requirements becoming major focus areas for government agencies.
Regulators say Paxos failed to monitor Binance effectively, allowing $1.6B in criminal-linked transactions to pass through the platform.
Paxos has agreed to pay $48.5 million to the New York Department of Financial Services (NYDFS).
This is to resolve allegations related to inadequate due diligence on its former partner, Binance, and failures in its anti-money laundering program.
NYDFS Probe Finds Paxos Lacked Oversight According to an August 7 press release, the terms of the settlement require the stablecoin issuer to pay a $26.5 million fine and invest $22 million in its compliance program. Paxos previously issued the Binance USD (BUSD) stablecoin until 2023, when the NYDFS ordered it to stop over the exchange’s poor geofencing and sanctions controls. According to the regulator, the action was the “first orderly wind down of a stablecoin.”
“Regulated entities must maintain appropriate risk management frameworks that correspond to their business risks, which includes relationships with business partners and third-party vendors,” said Superintendent Adrienne A. Harris.
Paxos, licensed in 2015 as a limited-purpose trust company, was authorized to operate in the virtual currency space. It later entered a partnership with Binance to issue, market, and distribute BUSD.
As part of its regulatory obligations, the firm was required to conduct regular due diligence on Binance. However, New York’s financial watchdog found that it did not have proper controls in place to monitor for serious illegal activity happening on or through the exchange. It also failed to escalate red flags to its senior management and board.
One key issue was Binance’s “lax geofencing,” which allowed users in the U.S. to access its unlicensed exchange. A review of historical transactions between 2017 and 2022, focusing on selected digital assets, revealed that approximately $1.6 billion that moved through it was linked to criminal activity. The investigation also found that the platform had processed payments involving entities that had already been sanctioned by the U.S. Office of Foreign Assets Control (OFAC).
Compliance Issues Beyond its shortcomings with Binance, the New York regulator also found that Paxos had been running a weak compliance program for years. The company’s Know Your Customer (KYC) procedures were described as “unsophisticated,” allowing users with shared addresses, overlapping documents, and suspicious behavior to open multiple accounts undetected.
You may also like: Binance Makes a New Push to Secure EU Approval Pushing Back at Reuters: Inside Binance’s Fight for Its European Future 160 Security Veterans Urge US Senate to Pass CLARITY Act Its poor transaction monitoring system also failed to catch clear signs of money laundering. Authorities noted that the firm had no clear rules for launching investigations after receiving law enforcement requests, which further delayed the detection of illicit activity on the platform.
Paxos has since moved to rebrand itself as a compliance-focused blockchain infrastructure provider. The company has stated that the issues identified were historical, have been fully resolved, and did not impact customer accounts. It continues to operate other regulated stablecoins, including Pax Dollar (USDP) and PayPal USD (PYUSD).
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
On-chain data shows the US is one of the world’s largest Bitcoin holders, with its portfolio now exceeding $24 billion. However, recent events have shown that the possibility of the US government increasing its stash is very low. Particularly, the US government’s strategy for cryptocurrency took a new turn this week after Treasury Secretary Scott Bessent clarified that Washington will not be actively buying any additional Bitcoin.
Bessent Rules Out New Purchases But Leaves A Possibility While speaking in a Fox Business interview, US Treasury Secretary Scott Bessent explained that the government has no plans to buy additional Bitcoin beyond its current reserve. The Treasury chief said the reserve will continue to be funded primarily through assets seized in criminal cases rather than direct purchases. His estimates place the value of the reserve between $15 billion and $20 billion.
Bessent later softened his position on social media, noting that even though the US is not allocating budgetary resources to acquire more Bitcoin, it is committed to “budget-neutral pathways” for expanding reserves to make the country the Bitcoin superpower of the world. The statement suggests that auctions, seizures, and non-traditional acquisitions could still increase holdings in the future, even if the Treasury avoids direct market buys.
Bitcoin Holdings Push Toward $24 Billion Data from blockchain analytics platform Arkham Intelligence reveals a bigger picture than Bessent’s estimates of $15 billion to 20 billion. According to Arkham, wallets linked to the US government currently hold about 198,022 BTC, valued at approximately $23.42 billion. Many of these holdings originated from seizures related to criminal activity, including the well-known Silk Road case.
The portfolio, however, extends well beyond Bitcoin. Arkham’s data reveals holdings of about 59,951 ETH, worth $273 million, along with 347 million USDT and smaller allocations across other assets such as 750 WBTC, 40,293 BNB, 5,205 WETH, and 13.6 million BUSD. Taken together, the government’s digital asset holdings are valued at approximately $24.27 billion. This figure recently climbed as high as $25 billion during Bitcoin’s surge above $124,000 last week.
Source: Chart from Arkham Earlier this year, President Donald Trump signed into law the creation of a strategic crypto reserve, a move many interpreted as the start of government-led Bitcoin accumulation. Trump himself had many investors increase their expectations after stating that the United States would prioritize US-based cryptocurrencies like BTC as part of its financial strategy.
This context is what made Bessent’s recent statement so significant. Although the reserve exists in law, the Treasury has now made it clear that active market purchases of Bitcoin are not on the table for the time being. However, it is clear that the US government isn’t planning to sell its holdings anytime soon, which might flood the market with selling pressure.
BTC trading at $114,859 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.
TLDR: BNB price crossed $1000 after network upgrades slashed block time to 0.75 seconds and lowered gas fees by 90%. Stablecoin USD1 filled the gap left by BUSD, boosting liquidity and onchain trading activity on BNB Chain. SEC lawsuit dismissal reduced regulatory risk, unlocking demand for BNB from traders and institutions. Billions in BNB burns, new RWA deployments, and venture capital inflows tightened supply and drove price upward. BNB has smashed past $1000, leaving traders asking what pushed the move. The rally did not happen in isolation. Multiple factors across regulation, network upgrades, and liquidity lined up in rapid succession.
BNB Chain projects ramped up activity and demand soared. Legal clarity removed a key overhang, giving the token more room to run.
BNB Chain Upgrades and Higher Network Demand CZ, founder of Binance, pointed to several changes on BNB Chain that helped build momentum. The network cut block times twice, moving from three seconds to under one. Faster confirmations drew in users who valued speed over cost.
Gas fees dropped by 90%, making transactions cheaper for traders. Lower costs helped drive a spike in activity across DEXs and stablecoins. According to onchain data shared by Sakura_XBT on X, daily transaction volume surged past other chains during this period.
Why BNB reach $1000?
Good question. No one knows for sure. Correlation does not prove causation. But here is a incomplete list of possible reasons.
People tend to give me too much credit. I didn't do much. I am not technically involved like Vitalik. I am at best a mascot, but… https://t.co/rvhFA0yxYP
— CZ 🔶 BNB (@cz_binance) September 18, 2025
Binance Chain also saw the launch of USD1, its first native stablecoin since BUSD’s shutdown in 2023. This restored liquidity and created deeper markets for DeFi users. Multiple RWA and AI projects went live on BNB Chain, expanding use cases and drawing capital back to the ecosystem.
PancakeSwap, Lista, and other DeFi protocols reported higher volumes as liquidity deepened. The rise of meme coins also brought retail traders back, adding more transactions to the chain.
Legal Clarity and Fresh Capital Inflows Legal pressure on Binance eased after the SEC dropped its lawsuit earlier this year. CZ said this removed concerns about BNB’s status as a security. Traders treated the move as a green light, reducing perceived risk around holding Binance Coin.
BNB Chain burned $1.6 billion worth of BNB in the last quarter, adding deflationary pressure. The reduced supply combined with growing demand amplified the price effect.
Venture firms such as YZiLabs increased investments, incubating dozens of projects on the network. These launches created fresh token demand as builders and traders used the token for fees and liquidity.
Sakura_XBT also pointed out that multiple digital asset treasury buyers acquired BNB in large size. This steady flow of institutional purchases added to price support as the market broke through key levels.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
PANews reported on February 21 that on-chain analyst Specter published an article on the X platform stating that IoTeX may have suffered a private key breach, with its token safe assets being completely transferred out by attackers, resulting in a total loss of approximately $4.3 million.
On-chain data shows that the attackers transferred multiple contract assets, including USDC, USDT, IOTX, PAYG, WBTC, and BUSD. The stolen assets were subsequently converted into ETH, with approximately 45 ETH transferred across the blockchain to the Bitcoin network. The incident is still under further investigation.
The attacker's addresses that have been disclosed so far are as follows:
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
1 seconds ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
1 seconds ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
1 seconds ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
1 seconds ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
1 seconds ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
