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Kinetiq (@Kinetiq_xyz) will launch the Elysium mainnet on November 9, a Layer 2 network for @HyperliquidX that settles to HyperEVM and uses $HYPE for gas.

Kinetiq (@Kinetiq_xyz) has set November 9 as the mainnet launch date for Elysium, a Layer 2 network built for the @HyperliquidX ecosystem. TechFlow reported on October 19 that, according to official announcements, Elysium is the first L2 network in the Hyperliquid ecosystem.

What Elysium is designed to doElysium is a general-purpose, high-performance L2 built specifically for Hyperliquid. ChainCatcher reports that it settles to HyperEVM, is co-located with HyperCore, and uses $HYPE as its native gas token. It runs Conduit's G2 sequencer on an architecture that meets SOC 2 Type 2 standards, according to the same report.

Kinetiq first unveiled the project on August 24. Crypto.news reported that the network is meant to increase transaction capacity within the Hyperliquid ecosystem, with 50% of sequencer fees allocated to buybacks and burns of Kinetiq's $KNTQ token.

The team has pointed to limits in the existing HyperEVM environment as the motivation. CoinTurk reported that Kinetiq cited HyperEVM's dual-block architecture, restricted throughput and high fees during congestion, including basic swaps costing as much as $20. Elysium is intended to be more deeply integrated with HyperCore, the liquidity engine behind Hyperliquid, and to offer faster block times.

Technically, Chainstack's overview describes Elysium as an Arbitrum Orbit chain that executes on its own fast chain and settles to HyperEVM, with high-frequency trading and market making as the stated target workload. The testnet has been live since September 22, 2026.

Why it matters for HyperliquidKinetiq is best known as the protocol behind kHYPE. OAK Research describes it as a non-custodial liquid staking protocol on Hyperliquid, where users deposit $HYPE and receive kHYPE in return. Elysium extends the company beyond staking into trading infrastructure.

Analysts have framed the launch as a test of execution. MEXC News noted that Elysium must show it adds meaningful functionality rather than fragmenting liquidity, and that performance, liquidity and developer adoption can only be measured after launch.

Kinetiq's documentation still describes Elysium as pre-launch, with specifications and parameters subject to change before mainnet, according to Chainstack.

SourcesTechFlow: Elysium to launch mainnet on November 9
ChainCatcher: First Hyperliquid L2 Elysium mainnet launch
Chainstack: What is Elysium?

The Hyperliquid Policy Center has urged the U.S. Securities and Exchange Commission to revise its proposed Regulation Crypto Assets framework, submitting five recommendations covering token airdrops, secondary trading, developer protections, buybacks and state securities requirements.

Summary

Hyperliquid Policy Center says it has submitted five recommendations concerning the SEC’s proposed Regulation Crypto Assets framework.
The proposals seek clearer legal treatment for airdrops, secondary token trading, buybacks and developing blockchain networks.
SEC exemptions would permit qualifying token offerings of up to $5 million or $75 million under different conditions.
The group wants regulators to distinguish automated token repurchases from buybacks directed by centralized project operators.
The SEC’s public consultation closes October 20, while the proposed regulations remain subject to review and revision.

According to the policy organization’s October 19 announcement, it filed a comment letter supporting the SEC’s proposed rules while requesting changes intended to address how decentralized cryptocurrency networks operate. The group argues that the current draft leaves important questions unresolved for developers and token holders, particularly while networks are still being built.

The submission comes one day before the SEC’s October 20 deadline for public comments on Regulation Crypto Assets. The agency proposed the framework in August 2026 to establish specific registration exemptions for certain investment contracts involving cryptocurrencies.

Under the draft, qualifying projects could raise up to $5 million over four years through a startup exemption or up to $75 million within a 12-month period through a separate fundraising exemption. Neither provision is currently an approved exemption under Regulation Crypto Assets, and the final rules may differ from the published proposal.

Hyperliquid Policy Center seeks clearer rules for token airdrops
One of the group’s central recommendations concerns how free token distributions should be treated under U.S. securities laws.

The Hyperliquid Policy Center wants the SEC to write its existing airdrop interpretation directly into the final regulation. The group argues that receiving tokens without providing payment or another form of consideration generally does not satisfy the investment-of-money requirement associated with an investment contract.

BIG UPDATE: Hyperliquid Policy Center (@HyperliquidPC) has officially submitted a comment letter to the SEC, supporting Regulation Crypto Assets and proposing five key refinements.

The proposed regulatory framework includes:

– Up to $5M in token offerings over four years under… https://t.co/a9lq0Jcca9

— HypedLaunches (@HypedLaunches) October 19, 2026

In March, the SEC and Commodity Futures Trading Commission issued a joint interpretation addressing the application of federal securities laws to several cryptocurrency activities. The joint crypto classification guidance covered airdrops, staking and other blockchain activities while examining the circumstances under which tokens may be connected to investment contracts.

The policy center’s proposed change would provide specific regulatory language for qualifying token distributions. It wants the rule to focus on whether recipients provided tangible and definable consideration in exchange for the assets.

The group identifies wallet connections, sanctions screening and other routine delivery procedures as activities that should not automatically turn a free distribution into a securities transaction. Such requirements may be necessary before a user can receive tokens, even when the recipient has not paid the issuing project.

Its recommendation distinguishes administrative steps from activities performed as compensation for tokens. A project requiring participants to provide services after announcing a distribution could raise different legal questions under the existing interpretation.

The organization argues that formalizing this distinction would give developers and recipients clearer expectations when distributing tokens to network participants.

SEC proposal leaves secondary crypto trading questions unresolved
Secondary market trading forms another significant part of the Hyperliquid Policy Center’s submission.

The organization wants the SEC to explain whether tokens originally distributed through the proposed registration exemptions can subsequently be traded through decentralized protocols and other intermediaries.

The August proposal addresses certain cryptocurrency offerings and contains provisions concerning resale and state registration requirements. However, it does not establish a complete regulatory regime for every person or protocol facilitating transactions after tokens reach investors.

Earlier, crypto.news examined the proposed exemptions, including the separate fundraising limits and proposed safe harbor. The SEC’s announcement emphasized capital raising and disclosures, leaving the legal treatment of certain secondary-market activities to other regulatory requirements.

The policy center argues that the usefulness of the offering exemptions depends partly on whether recipients have a functioning market in which to transfer or sell their tokens.

Its comment refers to the SEC’s own economic analysis, which discusses how limited secondary-market liquidity could reduce the expected benefits of the proposed framework. The organization wants the agency to address this issue when adopting the final regulation.

The recommendation specifically includes blockchain protocols and people who facilitate trading without being registered as traditional securities intermediaries. The group has not argued that every platform should receive unconditional relief from applicable securities laws.

Existing requirements for securities exchanges, brokers and dealers remain relevant when an activity falls within their statutory definitions. The proposed offering exemptions would not automatically exempt all trading services from those obligations.

Hyperliquid group challenges the proposed developer safe harbor
The SEC’s draft includes a conditional safe harbor intended to address when a cryptocurrency is no longer tied to an investment contract.

Under the proposed framework, an issuer generally must complete or permanently cease the essential managerial efforts it previously represented or promised to investors. Meeting the specified conditions could allow the related token to be treated as no longer subject to that investment contract for federal securities law purposes.

The Hyperliquid Policy Center argues that the certification requirement could create difficulties for projects that have maintained that their tokens were never sold through investment contracts.

Its submission says developers might view the required certification as an implicit admission that a securities relationship previously existed. The group wants projects to be able to certify that their tokens were never tied to an investment contract without making a contrary declaration.

A second objection concerns timing. The organization believes the safe harbor should provide protection while essential managerial work is still underway, because projects face regulatory uncertainty during development.

The current proposal is more limited, with the safe harbor linked to the completion or permanent cessation of the promised managerial activities. Extending protections to unfinished projects would require the SEC to change the conditions described in its August release.

In a previous analysis of the regulatory framework, the proposed safe harbor was identified as distinct from the two fundraising exemptions. The safe harbor concerns the legal relationship between a token and an investment contract, while the exemptions address qualifying offers and sales.

The group has not received approval for its proposed changes. The SEC must consider the public consultation and any subsequent revisions before determining the contents of a final regulation.

Automated token buybacks draw a separate SEC recommendation
Token repurchases are another area where the Hyperliquid Policy Center wants more precise legal language.

The group is asking the SEC to distinguish buybacks that occur automatically under published blockchain rules from purchases made at the discretion of a centralized company or project operator.

Some cryptocurrency protocols use predetermined mechanisms to allocate trading fees or other network revenue toward purchasing tokens. In other arrangements, a company or foundation decides when to buy tokens, how much to spend and whether to change the program.

The policy organization argues that those arrangements should not automatically receive identical treatment when regulators assess whether a central party is directing the economic activities associated with a cryptocurrency.

It wants the SEC to incorporate its staff’s token buyback guidance into the final regulation or the accompanying explanation. The submission requests consistent use of the term “central party” and cautions against treating validators and other independent participants as one controlling group solely because they share economic incentives.

The distinction is relevant to Hyperliquid’s ecosystem, where token buybacks and transaction-driven mechanisms have attracted attention from market participants. However, the group’s request does not establish that any particular Hyperliquid token or program has received a regulatory exemption.

The policy center’s interpretation remains an interested-party recommendation. Whether a particular buyback is associated with an investment contract depends on the facts of the arrangement and the applicable law.

Federal protections could expire under the SEC’s draft
The group’s fifth recommendation addresses how long federal protections against certain state securities registration requirements should remain available.

Regulation Crypto Assets proposes federal preemption for qualifying securities offerings and some subsequent transactions. The provision would limit specified state registration requirements while preserving other applicable legal obligations.

The Hyperliquid Policy Center argues that those protections should remain effective after a project satisfies the proposed safe harbor. It is concerned that losing federal preemption at that stage could expose developers or token holders to a new set of state-level registration questions.

The comparison with congressional legislation has identified differences between the SEC’s proposed regulatory exemptions and the treatment of decentralized networks under the CLARITY Act. The SEC proposal concerns particular securities law requirements, while legislation could establish a more extensive statutory framework.

Federal preemption under the draft would not eliminate every state law affecting cryptocurrency businesses. State antifraud provisions and requirements governing activities beyond the covered securities offerings may continue to apply.

In its August proposal, the SEC established file number S7-2026-27 and set October 20 as the deadline for written comments. The rulemaking remains open for public input, and the agency has not adopted the Hyperliquid Policy Center’s five requested changes.

Regulations

19 October 2026 | 17:36 Hyperliquid Policy Center has asked the SEC to confirm that a token buyback running on fixed, published rules is not a promise of managerial effort. It wants that to hold even when a company, foundation or other central party still controls the network.

Key Takeaways HPC wants buybacks that run on fixed, published rules cleared as no promise of managerial effort on functional networks, even where a central party exists. It accepts that discretionary buybacks run by a central party may still count as such a promise, especially when marketed as yield. Its definition does not say whether a buyback stays programmatic if someone can change its parameters. The letter also seeks a narrower “central party” definition and changes on airdrops, secondary trading, the safe harbor and state preemption. The request is one of five in a comment letter on the proposed Regulation Crypto Assets, filed on October 19 and signed by HPC chief executive Jake Chervinsky and senior counsel Brad Bourque. HPC launched in February with 1 million HYPE from the Hyper Foundation, which supports the Hyperliquid ecosystem, and describes itself as an independent research and advocacy group. Hyperliquid buys back HYPE with its trading fees.

The SEC proposed the rule in August. It would allow token offerings of up to $5 million over four years under a startup exemption, and up to $75 million in any 12-month period under a fundraising exemption. It would also add a safe harbor confirming when a token is no longer tied to an investment contract, and preempt state registration for those offerings and certain resales. HPC supports the proposal and wants changes before it is adopted.

What SEC staff says about buybacks today The legal question is whether announcing a buyback counts as a promise of “essential managerial efforts.” These are the work of a team or issuer that buyers rely on to make a profit. Under the Howey test, which courts use to decide whether an arrangement is an investment contract, that reliance is one of the markers of a securities transaction.

The SEC’s Division of Corporation Finance covers buybacks in its crypto FAQ. Since an amendment on September 28, the answer says a buyback announcement is not such a promise where the crypto system is functional and has no central party. Coindoo has reported on how staff separated buybacks from profit promises.

Staff FAQs carry no legal force. HPC’s letter praises the guidance but argues that projects cannot depend on it until the Commission writes it into the final rule or the adopting release.

Published rules versus case-by-case calls HPC wants the Commission to treat two kinds of buyback differently. The letter defines them this way:

Programmatic

Runs on fixed, publicly disclosed parameters: a set share of protocol fees, a defined schedule, a formula, or continuous open-market buying that anyone can check onchain. No one chooses the timing, the size or whose tokens are bought.

Discretionary

Run by a central party that decides when to buy, how much and from whom. Purchases can come from insiders or a treasury.

In HPC’s view, the second type involves information asymmetries and the kind of discretion securities law exists to police. The first does not.

From that, the letter asks the SEC to confirm that announcing, maintaining or executing a programmatic buyback or burn on a functional system is not a promise of essential managerial efforts, “regardless of the existence of a central party.” That goes past the FAQ’s wording. HPC presents it as a reading of the existing text, arguing that the “no central party” condition was aimed at discretionary buybacks.

The letter also asks the SEC to confirm the opposite case. A discretionary repurchase programme run by a central party may be a promise of managerial effort, depending on the facts. That is especially likely where the issuer markets the buyback as yield for holders or the system is not yet functional. The requested treatment covers only non-security tokens on functional systems.

Hyperliquid already runs this kind of programme Hyperliquid’s Assistance Fund receives most of the exchange’s trading fees and uses them to buy HYPE on the open market. According to CoinShares research, the fund places orders below the market price and sends the purchased tokens to an address no one can access. Validators voted in December 2025 to recognise those tokens as burned.

The letter does not mention Hyperliquid’s buyback and does not ask for treatment of any single project. The definition it proposes, however, is fee-funded, rule-based and verifiable onchain, which describes the model Hyperliquid already uses.

The question the definition leaves open HPC’s definition covers how a buyback executes. It does not cover who may change it. A programme can run without human input for months and still depend on someone who can raise or cut the fee share, pause purchases or send the money elsewhere. Hyperliquid’s December 2025 vote shows that holders of governance power do take decisions about such a fund.

Element What HPC’s definition fixes What it does not address Funding A published share of fees or a formula Who can change the share Timing A schedule or continuous buying Who can pause or restart it Use of funds Open-market purchases, no chosen sellers Who can redirect the money The letter does not say whether a buyback stays programmatic if a team, a foundation or a governance vote can rewrite its parameters. Any final text that adopts HPC’s distinction would need a position on that, because a parameter change is a decision about timing and size made by someone.

Who counts as a central party The same recommendation asks the SEC to settle what “central party” means. The term governs the FAQ’s buyback answer and the wider test of whether a network is functional, yet the FAQ does not define it. The SEC’s March interpretation defines it in a footnote as a person, entity or group with operational, economic or voting control, without explaining what makes a group.

HPC argues that a loose reading could cover any network with a governance token, since some combination of unrelated holders always controls a majority of votes. It asks the SEC to define a group as two or more persons acting in concert or under common control, in line with Section 13(d) of the Exchange Act. Holders, validators, delegators, developers, foundations and liquidity providers should not count as one because of combined holdings or shared incentives.

That definition would not decide the programmatic case, which HPC wants cleared whether or not a central party exists. It would decide which networks fall under the FAQ’s current answer, and who is responsible for a discretionary buyback.

The other four requests Airdrops: Write into the rule that tokens earned by using a network, running a validator or supplying liquidity involve no investment of money where the recipient gave no tangible and definable consideration. Confirm that connecting a wallet, signing a claim or passing sanctions screening is not payment, and apply the same analysis to past airdrops. Secondary trading: State that resales of these tokens are not securities transactions, and use the SEC’s Section 36 exemptive authority so intermediaries and qualifying onchain protocols can facilitate trades without registering as exchanges, brokers or dealers. HPC cites the SEC’s own economic analysis, which says the proposal’s benefits may be small if no liquid secondary market develops. Safe harbor: Let a project certify that its token was never subject to an investment contract, and state that filing is not an admission. Allow the supporting analysis to stay out of the public filing, since HPC argues it would give opponents a guide for litigation. Extend protection to projects still building, under a defined development period with milestones. State preemption: As proposed, preemption would end once a project satisfies the safe harbor. HPC says that could expose holders and trading venues to registration rules in more than 50 jurisdictions and give projects a reason to delay finishing their work. It proposes an optional annual certification that keeps the federal protection in place. What happens next The letter is filed under SEC file number S7-2026-27. The Commission will consider public comments before it votes on a final rule, and HPC says it will keep engaging with the agency and its staff. None of the requests has legal effect unless the SEC includes it in the final rule or the adopting release.

This article is provided for informational purposes only and does not constitute legal or investment advice. It describes a proposed rule and requested changes that the SEC has not adopted.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

The Hyperliquid Policy Center has submitted five recommendations urging the SEC to clarify crypto rules covering token airdrops, automated buybacks, secondary trading, and developer protections under its proposed regulatory framework.

Hyperliquid Policy Center Seeks Changes to SEC Crypto Rules
The Hyperliquid Policy Center announced its recommendations on October 19, supporting the SEC’s proposed Regulation Crypto Assets framework. The group asked for more generally defined rules for the distribution of tokens, platforms for trading and securities registration procedures.

The SEC introduced the proposal in August, offering two exemptions for qualifying cryptocurrency token sales. One allows offerings of up to USD 5 million in four years and the other USD 75 million per year.

Under its first recommendation, HPC wants the SEC to confirm that qualifying free token airdrops are not investments. The group stated that it does not consider these connections to be payment or the completion of a sanctions check.

Separately, HPC requested guidance for decentralized trading protocols and intermediaries handling token resales under the proposed exemptions.

SEC Urged to Clarify Token Buybacks and Developer Protections
HPC has urged the regulator to separate out automated token buybacks from buybacks approved on a case-by-case basis by the developers. It suggested uniformity of definitions for controlling parties in the final regulations.

The group seeks protection of the networks that developers are still building. Under its plan, it would allow projects to receive legal protections without recognizing that the tokens they previously issued were investment contracts.

For secondary trading, HPC requested clearer rules allowing platforms without SEC registration to facilitate eligible transactions. The group noted volatility in these activities could limit token liquidity and participation in the network.

Previously, the organization urged European regulators to classify perpetual futures under existing derivatives rules.It submitted its request for “consistent treatment of financial products” involving blockchain to the Ministry of Finance on October 1.

SEC Faces October 20 Deadline for Crypto Rule Comments
HPC’s fifth recommendation concerns federal protections against separate state securities registration requirements. The organization wants those protections to remain in place after projects qualify for the proposed safe harbor.

The SEC’s proposal currently sets October 20 as the deadline for public comments. The commission has not yet accepted the recommendations and the proposed rules still have to be considered.

Meanwhile, the SEC and CFTC have been advancing their own cryptocurrency regulations in the wake of stalled federal market regulation.

Previously both agencies have advanced their own crypto regulatory initiatives for markets with tokenization and derivatives. The SEC will consider comments submitted before it decides to modify or adopt the proposed framework.

For more options in self-custodial markets, traders can compare top-tier venues in our guide to the best crypto futures trading platforms.

Kinetiq's Hyperliquid L2 finally has a date, though its HyperCore hooks will arrive a few weeks later.

Elysium, the Hyperliquid-aligned L2 from liquid staking protocol Kinetiq, now has a launch date: the network goes live on mainnet November 9th, per a teaser the team posted this morning.

The announcement comes about eight weeks after Kinetiq first unveiled the chain and four weeks after its public testnet opened.

— (@)

What’s the Scoop? How it’s built: Elysium is an Arbitrum Orbit chain that settles to HyperEVM and runs on HYPE, bridged 1:1, for gas, so users won’t need a new token to transact. It’s designed as a roomier home for trading apps, launchpads, and proprietary AMMs than HyperEVM, whose small blocks Hyperliquid keeps intentionally tight.

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HyperCore hooks later: Elysium’s headline feature, letting smart contracts pull live HyperCore market data and route orders onto HyperCore, won’t be ready on day one. Kinetiq’s docs slot it into an ArbOS upgrade roughly a month after mainnet.

Early guardrails: At launch, one sequencer orders transactions, a data availability committee posts compact certificates to HyperEVM, and state checks are handled by a whitelisted validator set, with permissionless fraud proofs via Arbitrum’s BoLD promised down the road. The docs also warn that specs and timelines could still shift before mainnet.

Inaugural lineup: Elysium’s ecosystem page lists the DEX Nest as set to be live from the first mainnet block, while prediction market app Speculate and DEX Dawn have also committed to mainnet, alongside launchpads like Montra and Citadel. There’s no Elysium token or official points program for now.

A new KNTQ revenue line: Half of Elysium’s sequencer fees are earmarked for open market KNTQ buybacks. That matters for Kinetiq, whose TVL sits more than 60% below its October 2025 peak, per DefiLlama.

Zooming out: Hyperliquid kept HyperEVM lean so it wouldn’t weigh on HyperCore, which left spot trading and DeFi with little room to grow. Elysium is a wager that a dedicated L2 can soak up that demand and send its winners back to HyperCore.

William M. Peaster 1075 posts

William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he covers the onchain frontier with a particular interest in art, games, and other culture apps. He has a background in creative writing and writes fiction in his free time.

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The Hyperliquid Policy Center (HPC) has submitted an official comment to the U.S. Securities and Exchange Commission (SEC) on the draft of the new Regulation Crypto Assets. The organization supported the regulator’s general initiative but stated that, in its current form, the document contains systemic legal traps. 

For the proposed draft to work, the crypto industry demands five fundamental changes.

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In August, the SEC first presented this compromise plan: startups will be allowed to raise up to $75 million a year under a simplified scheme and will also be granted “Safe Harbor” status, which protects matured tokens from prosecution by regulators. 

Before that, the agency assessed the crypto market using the 1946 Howey test, created for trading shares in Florida citrus plantations. Because of the legal impasse, American Web3 startups have spent years moving offshore or blocking U.S. users.

What is wrong with the SEC’s proposal: ive traps for startupsHyperliquid’s lawyers point out that the SEC’s new compromise is still detached from reality. The policy center’s main objections boil down to five key categories:

Status of airdropsConcept of complianceTerms of the Safe HarborSecondary market integrationDuration of federal immunityThe regulation must clearly state that a free distribution of tokens for on-chain activity is not an investment contract, since users do not invest money and bear no financial risks. Moreover, completing verification (KYC) or connecting a wallet to receive an airdrop cannot be legally interpreted as “payment” for the asset.

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The other three changes concern the long-term survival of projects. Currently, to enter the Safe Harbor, a project must acknowledge that, at the development stage, the token depended on management, which automatically exposes startups to lawsuits for past years. 

HPC demands that companies be given the right to declare that their tokens have never been securities. In addition, the proposed rules do not describe the status of decentralized protocols (DEX) at all, although without the right to legally trade tokens on on-chain platforms from day one, the entire regulation loses its economic meaning. 

Finally, the regulation currently exempts approved projects from oversight by the authorities of individual states, but this immunity expires upon exit from the Safe Harbor. The industry demands that this protection be made indefinite, to relieve businesses of oversight from more than 50 jurisdictions at once.

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By defending the market, Hyperliquid is acting preemptively. The platform is the leader in the on-chain futures sector, but because of strict U.S. laws, it is forced to fully block American residents. At present, there are no official lawsuits or fines against the platform from the SEC or the CFTC.

Nevertheless, the project is under pressure from traditional exchanges (CME) and the U.S. Congress. In September, the House Oversight Committee demanded internal data from Hyperliquid co-founder Jeff Yan as part of an investigation into possible insider trading ahead of tariff announcements.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Binance: Users with at least 255 points can claim the Alpha airdrop at 21:00 today.

Binance officially announced that Binance Wallet will distribute the latest Binance Alpha airdrop at 21:00 Beijing Time today. Users holding at least 255 Binance Alpha points can claim the tokens on a first-come, first-served basis, until all tokens in the allocation pool are distributed or the airdrop campaign concludes.

11 minutes ago

ESMA adds 9 new crypto asset service providers, bringing its total number to 375.

The European Securities and Markets Authority (ESMA) has added nine crypto asset service providers (CASPs) to its register under the Markets in Crypto-Assets (MiCA) framework. The new additions include BingX’s Austrian entity MEGE zweite, YouHodler’s Italian subsidiary, and Santander’s Openbank Deutschland, bringing the total number of registered CASPs to 375.

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QCP: Bitcoin demonstrates resilience against price declines; a drop below the $80,000 to $88,000 range could trigger a sharp repricing.

QCP Capital’s daily market report today noted that Bitcoin traded in a range of $80,000 to $83,000 last week, with strong support near the $80,000 level and showing resilience amid ongoing pressure on tech stocks. AI financing risks continue to simmer: CoreWeave’s 5-year credit default swap (CDS) spread widened to over 1,100 basis points, reflecting market concerns over debt-driven AI investments. On the macro front, higher-than-expected U.S. CPI once pushed 2-year U.S. Treasury yields to 4.9% and 10-year yields above 5.3%; yields later pulled back on defensive demand. Fed Chair nominee Warsh’s comments on Friday also lowered market expectations for an October rate hike to 15%, down from nearly 30% earlier this week. The pullback in U.S. Treasury yields has supported Bitcoin’s rebound.
QCP pointed out that funds are shifting from the semiconductor sector to healthcare and bank stocks, with markets likely reducing exposure to crowded AI trades, though there is no clear evidence of direct inflows into crypto markets so far. Meanwhile, Bitcoin’s implied volatility remains below its one-year average, and market makers’ positive Gamma positions may temporarily cap price swings. However, this stability could weaken as options expire and positions roll over; if Bitcoin breaks sustainably above the $80,000 to $88,000 range, the market may face more sharp price revaluations. This week’s tech giant earnings reports will be a key watchpoint.

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Placeholder Partner: The current market resembles early bull market opportunities, advising long-term investors to systematically accumulate tokens.

Placeholder co-founder Chris Burniske wrote in a post that long-term crypto investors should not repeatedly agonize over entry or exit points, but instead accumulate tokens in a planned, consistent manner, and must not confuse long-term investing with short-term trading. He advises investors to use their most successful investment as a benchmark to calculate target holdings based on the proportion of each network’s total token supply. For instance, Ethereum (ETH) has a total supply of around 120 million tokens. If an investor once held 10 ETH, applying the network proportion rule would mean holding roughly 53 Solana (SOL) (total supply ~636 million) or 97 Celestia (TIA) (total supply ~1.16 billion). To hold a TIA network share 10 times that of their original ETH holding, they would need approximately 970 TIA. For Zcash (ZEC), whose supply is similar to Bitcoin (BTC), investors can also use their ideal BTC holding amount as a reference to set ZEC accumulation goals. Regarding the current market, Burniske notes that many crypto assets have fallen 20% to over 40% from their peaks, while BTC’s decline is less than 10%. He argues that BTC’s relative resilience so far has already triggered significant adjustments in assets with lower market risk appetite, making the current situation more of an opportunity in the early stages of a bull market rather than a warning sign of a bull trap. Still, he reminds investors to account for the possibility of further price drops, advising them to deploy remaining cash in batches and allocate investment amounts based on the likelihood that different price levels will form local bottoms. It is acceptable even if some preset price levels are never reached, leaving cash reserves. During market downturns or early bull market pullbacks, consistently accumulating target assets with a high-confidence strategy is more important than repeatedly trying to time market fluctuations.

11 minutes ago

BNB Foundation completes its 37th quarterly burn, destroying 1.6462 million BNB.

According to official announcements, the BNB Foundation has completed its 37th quarterly token burn, with a total of 1,646,200 BNB tokens burned in this round, valued at approximately $1.197 billion. Post-burn, BNB’s total circulating supply has fallen to around 131.5 million tokens.

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4 hours ago

TRON founder Justin Sun recently discussed Hyperliquid during a 3.5-hour offline conversation with Jin Ming, calling it one of the biggest new breakthroughs to emerge in this cycle. The U.S. stock perpetual contracts it launched have opened up new horizons for the industry. However, as more projects enter the U.S. stock perpetual contract space, Hyperliquid is facing intensifying competition. Sun also noted that the future competition between decentralized exchanges (DEXs) and centralized exchanges (CEXs) hinges on how U.S. regulators define Hyperliquid’s regulatory boundaries. If Hyperliquid can secure regulatory exemptions similar to Uniswap, a large number of CEXs could shift to the DEX model to cut compliance costs and gain broader global operational room, which would likely squeeze CEXs that fail to transition. Conversely, tighter regulatory requirements would also put significant pressure on Hyperliquid. Hyperliquid’s maturity in regulatory affairs and U.S. domestic operations still lags behind onshore compliant firms like Circle. Thus, the long-term competitive landscape between DEXs and CEXs largely depends on regulators’ stance toward new trading models and the compliance boundaries they establish.

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A whale withdrew $2.34 million worth of ARB and UNI from a CEX, coinciding with ARB unlocking over 90 million tokens in a single day

Whale address 0x204 withdrew approximately $2.34 million worth of Arbitrum (ARB) and Uniswap (UNI) tokens from Bybit about 2 hours ago.

Notably, Arbitrum just unlocked over 90 million ARB this week. Despite ongoing token unlock pressure, ARB's price has risen sharply recently and remained elevated over the past month.

Bloomberg: Hyperliquid seeks U.S. rules that protect its blockchain and place regulation at the application layer

Hyperliquid Labs co-founder Jeff Yan is seeking U.S. rules that can protect its blockchain. He believes Hyperliquid's regulatory responsibility should fall on the financial institutions operating markets on that blockchain — that is, at the application layer — rather than on the blockchain network itself. This regulatory division would allow Hyperliquid to enter Wall Street without bearing the full compliance burden of a traditional exchange.

Jeff Yan also said that Hyperliquid has not yet opened to U.S. customers. Hyperliquid would rather become the underlying trading technology used by traditional financial institutions than replace existing financial market participants, positioning itself by analogy to how Amazon Web Services (AWS) provides computing infrastructure for enterprises.

Another twist in Nscale's IPO plans: Microsoft exits data center project

Microsoft (MSFT.O) has exited its data center partnership with emerging UK cloud service provider Nscale in Loughton, Essex, England. The move comes at a critical time as Nscale prepares for its IPO, adding another twist to the startup's listing plans.

The report said Microsoft did not specify the reason for terminating the cooperation, but the project has faced a series of delays. Local authorities have informed Nscale that power for the facility is not expected to be available until the 2030s. In addition, Nscale's flagship project in Norway has also fallen about six months behind its original schedule, with only 6.4 MW of the planned 30 MW data center capacity currently operational.

According to Nscale's IPO filings, about 85% of the company's contracts depend on Microsoft and Anthropic. Microsoft had originally planned to be the anchor tenant of Nscale's first UK data center in Essex. Microsoft's exit will be a blow to Nscale, which is seeking to raise up to $3 billion through its IPO and could list as soon as this month.

Analyst: Mid- and small-cap crypto assets rarely lead BTC, but trend reversal risk is high

Crypto analyst Darkfost wrote that since late August, mid- and small-cap crypto assets have shown the strongest market cap growth, with the gap between their monthly average and annual average market cap continuing to widen, and the ratio now reaching 41%. By comparison, Bitcoin's ratio is 7%, and large-cap crypto assets are only 3.5%.

Darkfost noted that this trend is relatively rare, because Bitcoin usually leads the market first, as was the case after the bear market ended in 2023. However, mid- and small-cap assets are more sensitive to market changes, and the current trend could also reverse quickly.

Analysis: Long-end pricing anchor has clearly shifted to a "growth/AI cycle," and the market's pricing power over U.S. inflation is rapidly fading

CITIC Securities released a research note pointing out that U.S. September CPI of 3.7% YoY and PPI of 6.3% YoY both came in above expectations, but the reaction of long-end Treasury yields faded rapidly within 24 hours: after the CPI release on October 14, the 10-year Treasury yield first surged about 13bp to 5.325%, then gave back its gains and closed lower; after the PPI release on October 15, the 10-year rose only slightly by about 2.5bp while the 30-year moved directly lower, and the 10-year then quickly fell back to around 5.048%.

The market's pricing power over inflation is rapidly fading, and the long-end pricing anchor has clearly shifted to a "growth/AI cycle" — the "recession" it is pricing is essentially the tail risk of a downturn in the AI capex cycle, rather than a traditional demand recession, and it can coexist with stagflation. This is still left-side tentative pricing and has not yet formed a confirmed trend. In the short term, U.S. stocks may continue sector rotation, with funds shifting from AI themes to energy, defensive consumer staples, and healthcare that could benefit from expectations of a Democratic sweep in the midterms. Hong Kong stocks may also benefit from the reversal of overseas AI hardware trades, as well as capital allocation from Indonesia potentially being removed from the MSCI Emerging Markets Index.

Trader Killa: Still bullish on Bitcoin, will not close position before it reaches $126,000

Trader Killa wrote that Bitcoin's rise is not necessarily because the trend follows logic — sometimes it is precisely because the market defies convention. If market trends always followed logic and every move could be explained rationally, everyone would make money, but the Bitcoin market is not like that. He currently still holds a BTC long position and will not close it before the price reaches $126,000.

A trader transferred 1.662 million ONDO and nearly 30,000 LINK to Binance, with unrealized gains of over $400,000 after holding for 5 months

Trader "KIMCHOWOO" on OpenSea spent $676,500 about 5 months ago to buy about 1.662 million ONDO and nearly 30,000 LINK, and the value of the position once rose to $1.084 million during the holding period. About two hours ago, the trader transferred the entire position to Binance, and would profit over $400,000 if sold.

Data: ZRO, XPL and other tokens will see large unlocks next week, with ZRO unlocking about $43.3 million

Token Unlocks data shows that tokens including ZRO, XPL, and H will see large unlocks next week, among which:

LayerZero (ZRO) will unlock about 23.28 million tokens at 7:00 PM Beijing time on October 20, representing about 3.83% of circulating supply, worth about $43.3 million;

Plasma (XPL) will unlock about 227 million tokens at 8:00 PM Beijing time on October 25, representing about 5.02% of circulating supply, worth about $17.9 million;

Humanity (H) will unlock about 266 million tokens at 8:00 AM Beijing time on October 25, representing about 6.84% of circulating supply, worth about $15 million;

SoSoValue (SOSO) will unlock about 23.46 million tokens at 5:00 PM Beijing time on October 24, representing about 5.63% of circulating supply, worth about $6.9 million;

SOON (SOON) will unlock about 20.24 million tokens at 4:30 PM Beijing time on October 23, representing about 3.50% of circulating supply, worth about $6.3 million;

Kaito (KAITO) will unlock about 17.6 million tokens at 8:00 PM Beijing time on October 20, representing about 3.69% of circulating supply, worth about $5 million;

ChainOpera AI (COAI) will unlock about 19.55 million tokens at 3:00 PM Beijing time on October 25, representing about 6.36% of circulating supply, worth about $5 million.

DeepSeek announces API web search and scraping fees: 5 yuan per 1,000 successful requests

DeepSeek issued an announcement that the DeepSeek API now supports web search and scraping, billed by request count at 5 yuan per 1,000 successful requests. The announcement said that when users currently use the DeepSeek API in DeepSeek Harness/Claude Code/Codex, they already access the Search/Fetch interfaces through server-side tool calls, and these Search/Fetch interface calls are currently not billed. They will begin to be charged per call starting at 00:00 Beijing time on November 1, 2026.

Strive CEO posts chart again, possibly hinting at Bitcoin accumulation data disclosure next week

Strive CEO Matt Cole again posted the company's Bitcoin holdings data chart on X, with the caption "now stacking sats at double horsepower," hinting that BTC accumulation data may be disclosed next week, a move that may emulate Strategy founder Michael Saylor.

Michael Saylor posts Bitcoin Tracker info again, may disclose position change data next week

Michael Saylor, founder and executive chairman of Bitcoin treasury company Strategy, again posted Bitcoin Tracker-related information. Based on past patterns, Strategy usually discloses Bitcoin position change information the day after Michael Saylor posts related messages.

Divergence over Bitcoin's year-end outlook intensifies: optimists look to $100,000, cautious camp focuses on inflation pressure

Institutions hold differing views on Bitcoin's year-end trajectory, with optimists looking toward $100,000 and the cautious camp focusing on inflation pressure.

Bitwise Head of Research Ryan Rasmussen believes that, driven by continued institutional buying through ETFs and corporations, inflation and government debt concerns, and a clearer regulatory environment, Bitcoin could break above $100,000 by the end of 2026. LO:TECH Head of Research Adam Morgan McCarthy expects Bitcoin will most likely trade in the $85,000–$95,000 range before year-end, with inflation pressure and Fed policy remaining market headwinds; to return above $100,000, the market may need to lower expectations for a Fed rate hike in December, and falling oil prices and easing inflation could help bring about that change.

CoinShares Head of Research James Butterfill pointed out that the contradiction between persistent inflation and a weakening labor market will affect the Fed's future policy room: cooling inflation could provide room to respond to labor market weakness, while re-accelerating inflation could keep monetary policy restrictive.

Q3 crypto security incident losses up 55% QoQ, Hacken warns audits cannot cover all risks

A report from blockchain security firm Hacken shows that in the third quarter of 2026, the crypto industry saw 107 security incidents with losses of $1.18 billion, up 55% quarter-over-quarter. Of this, about $906.8 million in losses involved breaches of suppliers or development tools, known vulnerabilities not patched in time, and related components not included in the latest audit scope. In addition, some derivatives trading platforms and prediction markets rely on inadequate key management arrangements for asset security, though no actively exploited vulnerabilities have been found on those platforms. The analysis holds that security audits cannot replace continuous vulnerability management, and projects still need to patch known vulnerabilities promptly and ensure audits cover system components that actually affect fund security.

Hyperliquid burned about $891,000 worth of HYPE in the past 24 hours, cumulative burn at 4.96% of max supply

Hyperliquid repurchased and burned about 11,340 HYPE in the past 24 hours at an average price of $78.55, worth about $890,900, while platform fee revenue over the same period was estimated at about $764,900.

To date, HYPE's cumulative burn is about 49.63 million tokens, worth about $3.9 billion at current valuation, accounting for 4.96% of its 1 billion max supply. In addition, Hyperliquid's revenue over the past 30 days was about $69.94 million.

Justin Sun trades PEPE again after two years, received 7.2 trillion PEPE from Poloniex multisig address 22 hours ago

Justin Sun traded PEPE again after a two-year gap. 22 hours ago, the Justin Sun address (0x176…0a132) received 7.2 trillion PEPE, worth $28.44 million, from a Poloniex multisig address.

CZ responds to BNB phone proposal: not sure carrying a crypto phone is a good idea

BNB ecosystem member Spigg proposed launching a dedicated BNB phone that integrates a native wallet, instant payment and transfer functions, and consolidates all DApps in the BNB ecosystem onto a single platform, so users can manage assets, make payments, and interact with on-chain applications on one device.

In response, Binance founder CZ said he rarely disagrees with Spigg, but appeared to remain reserved about whether carrying a crypto phone is a good idea. However, CZ did not further explain his specific concerns, nor did he explicitly oppose launching a BNB phone.

"Bitcoin Jesus" Roger Ver reaches deal with Trump administration, will pay up to $49.9 million to settle U.S. tax charges

Early Bitcoin investor Roger Ver, known as "Bitcoin Jesus," has reached a deferred prosecution agreement with the U.S. Department of Justice to resolve criminal charges of alleged mail fraud and tax evasion. Under the agreement, if Ver complies with the relevant terms, the indictment against him will be dismissed after one month, and the IRS may recover up to $49.9 million from him, covering taxes, civil penalties, and interest.

The DOJ previously alleged that Ver failed to pay at least $48 million in taxes after renouncing his U.S. citizenship in 2014 and obtaining citizenship in St. Kitts and Nevis. Ver was arrested in Spain in April 2024. Earlier this year, he publicly called on Trump to help end the legal action against him, but ultimately did not receive a presidential pardon, instead resolving the case through an agreement with the Trump administration. Ver expressed gratitude for the resolution of the case and for the leadership and professional handling of the Trump administration.

Qubic discloses security incident that compromised 1,404 wallets, about 2.94 trillion QU transferred

Qubic released a security incident update stating that between 23:42 on October 17 and 01:26 on October 18 (UTC), attackers exploited a vulnerability of insufficient randomness in some wallet seeds to access and transfer assets from 1,404 Qubic wallets, involving about 2.94 trillion QU. Qubic said the issue lay in the wallet seed generation process, not in the Qubic protocol itself.

Broadcom, Verizon and 7 other U.S. companies oppose tokenized trading of their stocks on OKXICE

OKXICE, a tokenized stock trading platform jointly established by OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, disclosed in an announcement released on October 15 that nine U.S. listed companies have opposed trading of their stocks on the platform, including Broadcom, Verizon, UnitedHealth, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Applied Optoelectronics, and Cerebras Systems, which had previously chosen to exit. The announcement did not state the reasons for the opposition. In addition, Nasdaq said it would choose not to have its own stock tokenized under this framework. OKXICE had previously notified the SEC of its plan to rely on the five-year "innovation exemption" launched by the SEC on September 17 to first list tokenized stocks of 63 U.S. listed companies.

Anthropic announces public benefit fund, commits 5% of shares to public interest

The company will inject a portion of its shares into the newly established Anthropic Public Benefit Fund. Subject to shareholder approval, it is committing 5% of shares today; thereafter, each time the company's valuation grows 50% above a set baseline, the board may, at its discretion, add another 2%. The fund is set up as a wholly owned LLC rather than a charitable structure such as a 501(c)(3), and the equity held will not be used for lobbying or political donations in any country. Anthropic said the fund will be used for large donations to traditional nonprofits, direct distributions to specific groups, and other purposes, with a key focus on addressing the labor market impact of AI (the company has already committed $200 million to this). Combined with the founders' commitment to donate 80% of their holdings and an employee equity matching program, about 20% of Anthropic's shares will be used for the public interest, and may increase further with valuation milestones.

Latvia plans to allow residents to pay taxes with crypto as early as 2027, parliament simultaneously reforms crypto tax rules

Dizis Dejus, strategic planning advisor to the Latvian Prime Minister, said at the UN:BLOCK fintech conference in Riga that the country plans to allow residents to use cryptocurrency to pay personal income tax as early as next year. The Ministry of Finance has agreed, but technical integration with payment service providers remains to be completed. The move builds on the crypto tax payment and asset tokenization plan announced in May 2025. The Latvian parliament passed legislation on October 15 to tax withdrawals from crypto investment accounts that exceed the initial deposit amount, replacing the previous practice of taxing each transaction, and introduced a one-time declaration mechanism: holders can pay 10% on the market value of declared assets by the end of 2026 to settle historical tax liabilities, with the declaration period from April 1 to May 31, 2027, and the tax payment deadline on July 23. Dejus did not disclose the payment service providers or eligible currencies.

South Korean stock market opens down 3%

South Korea's KOSPI index fell below 5,600 points in early trading, down 3.17% intraday. SK Hynix fell 4%, and Samsung Electronics fell 3%.

Nikkei 225 intraday decline widens to 2.2%, South Korea's KOSPI intraday decline narrows to 1%

The Nikkei 225 index fell back below 64,000 points, down 2.20% intraday. South Korea's KOSPI index narrowed its intraday decline to 1.00%, after falling more than 3% earlier.

A whale closed a $110 million BTC long and switched to a $45.8 million U.S. stock long

A whale's long position of 1,360 BTC (about $110 million) had a market stop-loss placed at $80,500 that was ultimately not triggered. At 4 AM, BTC briefly fell to $80,684, just $184 away from the stop-loss price, but did not continue lower. At 5 AM, the whale closed the BTC long at $80,949, losing about $3.26 million. It then shifted to U.S. stocks, opening a long position worth $45.8 million, including TSLA, DRAM, and SOXL. The liquidation price of this long position is at $80,034.

Musk comments on Anthropic public benefit fund: suggests "distributing shares directly to the public"

Anthropic announced early this morning that it will inject a portion of its shares into a newly established wholly owned entity, the Anthropic Public Benefit Fund, which serves the public interest entirely. The fund's initial size is 5% of the company's shares, and thereafter each time the company's valuation grows 50% above a set baseline, an additional 2% can be injected, up to about 20%. In response, Elon Musk replied suggesting "distributing shares directly to the public," and later added "that's exactly what I'm going to do."

World launches World ID suite for banks, Zoom deepfake detection fully open

World (Worldcoin), the identity project co-founded by Sam Altman, launched a World ID suite for banks and financial institutions, the first industry-specific product for the identity protocol. Co-founder Alex Blania unveiled it at the Money20/20 conference. The suite integrates the World ID app, World ID for Zoom, and World ID for Agents (AgentKit) for AI agents, designed to guard against deepfake fraud and AI impersonation. The Zoom deepfake detection feature has ended its testing phase that began in April and is now fully open. World named OpenExchange, Bain Capital, VanEck Funds, and Outtake as design partners, but did not disclose the specific banks using the product or pricing. More than 18 million people currently hold "Proof of Human."

CZ's autobiography "Freedom of Money" Japanese edition launches, all proceeds donated to charity

Binance founder CZ (Changpeng Zhao) posted that the Japanese edition of his autobiography "Freedom of Money" officially went on sale that day. The English edition, Chinese edition, and Audible audiobook were previously launched, with more languages coming soon. CZ said all proceeds from the book will be donated to charity. He also released a 4-minute-31-second video recounting his personal experience, noting that the video and most of the voiceover were generated by AI.

3 hours ago

，Ripple 机构经纪业务 Ripple Prime 已上线现实世界资产 RWA 永续掉期，面向机构客户提供涵盖个股、股指、ETF、金属、能源及外汇等超 100 个参考市场的连续交易。该产品由 Ripple Prime 作为对手方成交，定价参考 Trade.xyz 在去中心化衍生品平台 Hyperliquid 上挂牌的永续合约，不涉及标的所有权与实物交割。其国际首席执行官 Michael Higgins 表示，产品衔接传统市场与数字基础设施。客户可将相关仓位与平台其他资产交叉保证金，符合条件者亦可使用 RLUSD 作抵押。做市商 Virtu 为早期用户之一。该业务目前在英属维尔京群岛相关牌照下提供，计划扩展至更多地区。

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Several major cryptocurrencies, including Bitcoin, Solana, Near Protocol, and Hyperliquid, are encountering critical support levels amid heightened selling activity and fading momentum. Technical signals point to increased caution across the market, as investors closely monitor whether support zones will hold or further declines are on the horizon.

Near Protocol holds key support amid correctionNear Protocol (NEAR), a layer-1 blockchain platform supporting decentralized applications, has faced heavy selling pressure after failing to break through resistance between $5.80 and $6.00. The cryptocurrency is presently correcting toward the $4.65 to $4.70 support area, with the latest daily candle showing a high of $5.06 and a low of $4.74, underlining ongoing volatility.

NEAR’s technical outlook remains cautiously optimistic as long as buyers defend the $4.60 level. Losing this zone could trigger a slide toward $4.40, and potentially the stronger support band at $4.10 to $4.20. On the upside, a recovery above $5.00 may encourage bulls to target $5.40, followed by renewed attempts at $5.80 and $6.00.

The Relative Strength Index (RSI) for NEAR has retreated from overbought conditions and is approaching the neutral 50 level, implying diminishing bullish momentum. Meanwhile, trading volume has subsided compared with September’s surge. NEAR continues to trade above its medium- and long-term moving averages, helping to preserve its overarching bullish structure.

NEAR’s broader bullish trend remains intact so long as the $4.60 support area is not breached. Closing below this level could amplify downside risks, while a breakout above $5.40 would bolster bullish confidence for a fresh rally.

NEAR’s outlook now depends on whether buyers can successfully defend critical support and reclaim resistance levels.

Hyperliquid struggles after sharp pullbackHyperliquid (HYPE), a protocol focused on on-chain derivatives trading, is under sustained bearish pressure. After peaking near $98, HYPE has corrected to roughly $77.72. Sellers have dominated recent trading, driving a pronounced shift in short-term price action. Immediate support is seen at $76 to $77, where the moving average lines up with price levels.

A bounce from this area could spark a relief rally to $80 or $82. However, daily closes below $76 may accelerate losses toward $72, with $70 acting as a psychological barrier. On the upside, key resistance is situated between $80 and $82, strengthening at $84 to $86. A clear move above $86 would be needed to signal a positive trend reversal.

The daily RSI in HYPE has slipped below 50, nearing 40, reflecting escalating selling momentum. The token now trades beneath its short- and medium-term moving averages, deepening its cautionary outlook.

Mini dictionary: Hyperliquid, a decentralized exchange protocol, enables perpetual futures and spot trading directly on-chain without intermediaries, aiming for high performance and deep liquidity.

Solana approaches crucial $100 markSolana (SOL), a blockchain known for its high throughput and low fees, is experiencing renewed selling after its failure to sustain prices above $120 earlier in October. SOL is now trading near $102.31, with the $100 support level under threat. Ongoing weakness has pulled Solana below several short-term moving averages, signaling that sellers have gained control of near-term momentum.

A break below $100 could expose SOL to deeper losses toward $97 and potentially to the $92–$95 range. For a bullish reversal, SOL would need to reclaim resistance between $105 and $107, with higher targets at $110 and $115 if fresh buying emerges.

The RSI has dropped below 50, approaching 40, indicating softening demand. Despite short-term weakness, SOL remains above its main long-term moving averages, suggesting that the larger recovery trend remains in place for now.

The immediate $100 support is critical for SOL. Failing to hold this level may increase the probability of an extended correction, while a successful defense could pave the way for a rebound toward $110.

Bitcoin tests $80,000 after rally fadesBitcoin (BTC), the largest cryptocurrency by market value, is showing weakening momentum after reaching $87,000, with the price now consolidating near $81,184. The previous rally, which started in August from around $63,000, attracted significant buying volume and sparked optimism among traders. However, sellers have returned, pushing BTC toward the key $80,000–$81,000 support area.

If Bitcoin closes below $80,000, the market could see a further decline toward $78,000, with stronger support at $76,000 to $77,000. Conversely, a recovery above the $82,500–$83,000 resistance band would be needed to improve the short-term outlook and target $85,000 and higher. BTC currently trades below its short-term moving average but retains a position above longer-term averages, affirming the broader positive structure.

The market’s next move remains contingent on the defense of immediate support, as buyers and sellers vie for control at these pivotal price levels.

CoinCurrent PriceKey SupportKey ResistanceBitcoin (BTC)$81,184$80,000–$81,000$82,500–$83,000Solana (SOL)$102.31$100–$102$105–$107Near Protocol (NEAR)$4.74–$5.06$4.60–$4.70$5.20–$5.40Hyperliquid (HYPE)$77.72$76–$77$80–$82

Hyperliquid (HYPE) holders have lost 15% in a month as the token fell harder than Bitcoin, Ethereum, and Solana. Yet analysts are more bullish on it than on any other major cryptocurrency, according to CryptoQuant’s ranking of analysts.

HYPE traded at $76.55 on Sunday, about 22% below its September 23 record of $97.96. The token is worth roughly $17 billion.

Hyperliquid (HYPE) Price Performance. Source: BeInCryptoWhy is HYPE Falling Harder than the Market?Over the same 30 days, Bitcoin (BTC) was flat, while Ethereum (ETH) and Solana (SOL) each lost about 9%.

One cause is specific to HYPE. On October 6, Hyperliquid’s team received 3.75 million HYPE, then worth about $340 million, in a scheduled payout, according to unlock tracker Tokenomist.

A co-founder said the batch would be sold off-exchange to one institutional buyer. Neither the buyer nor the price was disclosed.

That payout was worth nearly five times the $71 million Hyperliquid generated for buybacks over the past 30 days, DefiLlama data shows.

The platform, a venue for trading crypto futures, routes about 99% of trading fees into daily HYPE purchases, according to CoinShares.

Traders betting on higher prices with borrowed money lost $688.56 million to forced closures in one day this month, BeInCrypto reported in its Hyperliquid whale coverage.

How Bullish are Analysts on HYPE?CryptoQuant scores how strongly analysts lean bullish against each coin’s own recent history. HYPE topped its ranking at 2.3 standard deviations above normal. BNB, Solana, Bitcoin, and Cardano (ADA) followed.

Analysts Are Most Bullish on Hyperliquid. Source: Ki Young Ju/X “The most bullish crypto asset by analyst sentiment is $HYPE,” noted Ki Young Ju, founder and CEO of CryptoQuant.

The leading call on the firm’s chart targets $100 to $120.

By raw share, HYPE is not the most backed. CryptoQuant’s page shows 90% of tracked analysts bullish on HYPE, against 100% for ADA and 92% for Uniswap (UNI).

HYPE Becomes Crypto’s Most Bullish Bet as Price Drops 15% in a MonthHistory offers a contrast. HYPE’s last big pullback, from about $75 in early June to near $52 in August, came as analyst sentiment turned bearish on CryptoQuant’s chart. This time, sentiment has stayed bullish through the drop.

For holders, two figures now test the bull case. One is whether daily buybacks can absorb selling. The other is $75.14, a support level flagged in BeInCrypto’s weekend analysis.

HYPE trades less than $1.50 above it, per the Hyperliquid price page.

Galaxy Research analyzes why Bitcoin weakened in October, pointing to weak corporate treasury buying and ETF outflows as the primary causes.

Galaxy Research Head of Research Alex Thorn points out that Bitcoin’s weakness in October is tied to weak growth in corporate Bitcoin reserves and net outflows from spot Bitcoin ETFs. Using the “institutional absorption vs. long-term holder address distribution” metric for analysis, the calculation is: spot ETF net inflows plus net additions to corporate reserves, minus the amount of Bitcoin that has been dormant on-chain for over five years and reactivated. Data shows that as of October 18, the year-to-date net value of this metric stood at roughly negative 127,300 BTC, meaning the distribution of old coins from long-term holding addresses has overall outpaced institutional uptake. The analyst also noted that the year-to-date net inflow of U.S. spot Bitcoin ETFs returned to positive territory in September and has barely held steady since, currently at around $355 million, with a small net outflow recorded so far in October.

60 minutes ago

Qubic discloses security incident: Approximately $1.3 million in QU tokens stolen, affecting 1,404 Qubic wallets.

Qubic announced that between 23:42 UTC yesterday and 01:26 UTC today, attackers exploited insufficient randomness in the seed of some wallets to access and siphon approximately 2.94 trillion QU tokens from 1,404 Qubic wallets. The root cause lies in the seed generation mechanism, not the Qubic protocol itself. Affected seeds include those created in any iPhone or iPad browser before October 18, 2026, those created in Mac Safari on the same date, and those generated via the Qubic iOS App before July 2025. The network has been halted at tick 85,371,949. 87.1% of the stolen funds remain in the Qubic network and are frozen, while the remaining 12.9% has been transferred to MEXC, with the associated receiving accounts also frozen. Qubic said the seed generation issue has been fixed in version 4.26.4. Subsequent actions will be decided by the Computor quorum per network rules, and a full technical report will be published after a fund recovery plan is finalized.

60 minutes ago

Viewpoint: Bitcoin has completed bottom hunting to liquidate long positions, may shift to a short squeeze next week, and maintains a bullish stance above $79,800.

Renowned trader Killa reviewed Bitcoin’s weekly chart trends, noting that last week, BTC fell from $87,000 to the $80,000 range before bouncing back 50%. After the current weekly chart opened, the token rallied on Monday but faced persistent resistance, eventually retesting the prior week’s low around $80,000. Currently, longs are the main targets of market liquidations, so there’s a high chance the trend will shift to targeting shorts next week. For short-term trades, closely watch for a retest of this week’s low at $79,800; if that occurs, look for long entry opportunities.
Killa laid out a clear observation framework: If BTC does not retest the lows, focus on the $83,600 level. If the price fails to break above this level, the market will remain in a range-bound capitulation phase; if it breaks through successfully, the rally will push higher. He expects next week’s weekly chart open will move upward, forcing late shorts who entered short positions against the recent rally to cover their positions. In the worst-case scenario for bulls, BTC could dip to the $76,000–$78,000 range. The analyst also explicitly ruled out the extreme scenario of a retest of $74,000.

60 minutes ago

US and South Korean stock market price preview for Monday: SK Hynix and Samsung are expected to open nearly 5% lower, while US stocks are set to open nearly flat in pre-market trading.

During the weekend when traditional markets are closed, Trade.xyz — dubbed the "On-Chain Nasdaq" — leverages perpetual contracts to enable continuous trading and real-time price discovery that traditional finance cannot achieve, pricing in advance the upcoming Monday’s U.S. and South Korean stock market trends.
Most popular U.S. stock assets on Trade.xyz saw minor declines from their Friday after-hours levels, with an overall flat-to-slightly-weak opening expected on Monday. Their weekend performance is as follows: SpaceX is currently priced at $144.66, down from $145.47 in U.S. Friday after-hours trading; Micron (MU) is at $869.99, versus $875.98 in Friday after-hours; SanDisk (SNDK) is at $1,275.4, compared to $1,292.43 in Friday after-hours; NVIDIA is at $213.57, versus $213.75 in Friday after-hours; Marvell Technology (MRVL) is at $225.84, versus $226.9 in Friday after-hours; Intel is at $88.89, versus $89.33 in Friday after-hours; Google is at $339.68, versus $339.22 in Friday after-hours; AMD is at $527.09, matching its Friday after-hours level.
Popular South Korean stocks on Trade.xyz have dropped notably from their Friday closing prices, with an expected opening decline of 4%–5% on Monday. Their weekend performance is as follows: Samsung Electronics is currently priced at $155.81, down from $161.75 at Friday’s close; SK Hynix is at $907.95, versus $954.75 at Friday’s close.

60 minutes ago

Bitcoin Jesus renounced his U.S. citizenship to evade taxes, only to be ordered to pay nearly $50 million in expatriation tax a decade later.

Earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with Roger Ver, known as "Bitcoin Jesus", under which fraud and tax evasion charges against him will be dropped in exchange for a maximum fine of $49.9 million. As one of the earliest Bitcoin evangelists, Ver purchased large amounts of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he obtained citizenship of the Caribbean island nation of St. Kitts and Nevis, and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoin, worth over $70 million at the then-current price. He thought changing his nationality would let him escape the U.S.'s high taxes, but the U.S.'s strict "expatriation tax" foiled his plan. Under U.S. tax law, eligible expatriates must treat their global assets as if sold on the day before expatriation and pay capital gains tax. Ver reported $1.03 million in taxes, but not only failed to disclose his personal Bitcoin holdings, he also severely undervalued his company assets. A decade later, the IRS uncovered his fraudulent tax evasion (fraud and tax evasion are not subject to statute of limitations), ultimately forcing him to pay up to $49.9 million in back taxes, penalties, and interest—48 times the amount he had self-reported paying that year.

60 minutes ago

Justin Sun resumes trading PEPE after a two-year hiatus, receiving $28.44 million worth of the token from Poloniex's multi-signature address.

On-chain analyst Ai Yi (@ai_9684xtpa) has monitored that Justin Sun is trading PEPE again after a two-year hiatus. 22 hours ago, Sun’s address 0x176…0a132 received 7.2 trillion PEPE tokens from Poloniex’s multi-sig address, valued at $28.44 million. This marks his first on-chain PEPE transaction since June 2024, when the token was priced at $0.00001256.

60 minutes ago

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TLDR: Binance sell order at 21:21 UTC triggered liquidations that reached Hyperliquid-linked stock contracts  Bullish positions made up about $38M of the $51.6M liquidated between 21:22 and 21:32 UTC on Saturday  SOXL saw roughly $12.7M in liquidations, while SanDisk and SK Hynix each recorded about $10.8M Semiconductors had logged eight straight losing days, their worst streak since 2008, before the drop A semiconductor flash crash wiped out $51.6 million in leveraged positions during weekend trading on crypto platforms. A large sell order on Binance at 21:21 UTC on Saturday triggered the liquidations.

The wave spread to venues such as Hyperliquid and hit contracts tied to SOXL, SanDisk, and SK Hynix. Thin liquidity worsened the drop, since US stock markets were closed. Prices rebounded quickly afterward, and the wider crypto markets held steady.

Binance Sell Order Triggers Liquidations Across Venues Analyst AN Crypto described the semiconductor flash crash in a post on X. The post states that liquidations occurred between 21:22 and 21:32 UTC on Saturday. Positions tied to chip stocks and semiconductor funds were closed by force during that ten-minute window.

The selling began on Binance. Within seconds, it reached stock contracts linked to Hyperliquid. These contracts stay open even when US exchanges are shut.

🚨 $52 MILLION WIPED OUT IN JUST 10 MINUTES — WHILE WALL STREET WAS CLOSED.
Crypto exchanges are becoming a 24/7 casino for stock traders. This weekend, leveraged bets on semiconductor stocks suffered a massive liquidation wave, even though the underlying U.S. stock market wasn’t… pic.twitter.com/j4mTHAvzpk

— AN Crypto (@ANCrypto_) October 18, 2026

Thin weekend liquidity left few buy orders to absorb the large sell order. The sequence showed how quickly pressure can move across trading venues.

A liquidation occurs when an exchange closes a leveraged position after the trader’s margin falls too low. Bullish traders took the largest share of the losses. About $38 million came from positions betting on higher prices. The rest came from traders betting on lower prices.

SOXL, SanDisk, and SK Hynix Lead the Losses SOXL contracts recorded the biggest losses, with about $12.7 million liquidated. SanDisk and SK Hynix contracts followed, each seeing around $10.8 million in liquidations.

The liquidations came after a rough stretch for the semiconductor sector in regular trading. Chips had logged eight straight losing days, their worst streak since 2008.

Pullbacks in AI spending accompanied that decline. The streak left the sector under pressure before the weekend session began.

The semiconductor flash crash on crypto venues followed this run of losses. Together, the three contract groups accounted for about $34.3 million of the total. Other positions made up the remaining balance.

Lack of Live Stock Prices Complicates Weekend Trading AN Crypto pointed to the absence of an opening bell as the central issue. With Wall Street closed, these contracts had no real-time share prices to anchor them. Traders were effectively reacting to each other, and leverage amplified the move.

US markets reopen on Monday. Actual share prices will then show how far weekend contract prices drifted from the underlying stocks. Until then, moves from the semiconductor flash crash cannot be compared with live stock data.

Tokenized stock exposure and perpetual contracts now allow markets to trade around the clock. Perpetual contracts have no expiry date, so traders can hold them while margin requirements are met.

However, constant access does not guarantee reliable price discovery or deep liquidity. Longer trading hours offer more opportunity, but they also create more ways for traders to face liquidation.

Galaxy Research analyzes why Bitcoin weakened in October, pointing to weak corporate treasury buying and ETF outflows as the primary causes.

Galaxy Research Head of Research Alex Thorn points out that Bitcoin’s weakness in October is tied to weak growth in corporate Bitcoin reserves and net outflows from spot Bitcoin ETFs. Using the “institutional absorption vs. long-term holder address distribution” metric for analysis, the calculation is: spot ETF net inflows plus net additions to corporate reserves, minus the amount of Bitcoin that has been dormant on-chain for over five years and reactivated. Data shows that as of October 18, the year-to-date net value of this metric stood at roughly negative 127,300 BTC, meaning the distribution of old coins from long-term holding addresses has overall outpaced institutional uptake. The analyst also noted that the year-to-date net inflow of U.S. spot Bitcoin ETFs returned to positive territory in September and has barely held steady since, currently at around $355 million, with a small net outflow recorded so far in October.

59 minutes ago

Qubic discloses security incident: Approximately $1.3 million in QU tokens stolen, affecting 1,404 Qubic wallets.

Qubic announced that between 23:42 UTC yesterday and 01:26 UTC today, attackers exploited insufficient randomness in the seed of some wallets to access and siphon approximately 2.94 trillion QU tokens from 1,404 Qubic wallets. The root cause lies in the seed generation mechanism, not the Qubic protocol itself. Affected seeds include those created in any iPhone or iPad browser before October 18, 2026, those created in Mac Safari on the same date, and those generated via the Qubic iOS App before July 2025. The network has been halted at tick 85,371,949. 87.1% of the stolen funds remain in the Qubic network and are frozen, while the remaining 12.9% has been transferred to MEXC, with the associated receiving accounts also frozen. Qubic said the seed generation issue has been fixed in version 4.26.4. Subsequent actions will be decided by the Computor quorum per network rules, and a full technical report will be published after a fund recovery plan is finalized.

59 minutes ago

Viewpoint: Bitcoin has completed bottom hunting to liquidate long positions, may shift to a short squeeze next week, and maintains a bullish stance above $79,800.

Renowned trader Killa reviewed Bitcoin’s weekly chart trends, noting that last week, BTC fell from $87,000 to the $80,000 range before bouncing back 50%. After the current weekly chart opened, the token rallied on Monday but faced persistent resistance, eventually retesting the prior week’s low around $80,000. Currently, longs are the main targets of market liquidations, so there’s a high chance the trend will shift to targeting shorts next week. For short-term trades, closely watch for a retest of this week’s low at $79,800; if that occurs, look for long entry opportunities. Killa laid out a clear observation framework: If BTC does not retest the lows, focus on the $83,600 level. If the price fails to break above this level, the market will remain in a range-bound capitulation phase; if it breaks through successfully, the rally will push higher. He expects next week’s weekly chart open will move upward, forcing late shorts who entered short positions against the recent rally to cover their positions. In the worst-case scenario for bulls, BTC could dip to the $76,000–$78,000 range. The analyst also explicitly ruled out the extreme scenario of a retest of $74,000.

59 minutes ago

US and South Korean stock market price preview for Monday: SK Hynix and Samsung are expected to open nearly 5% lower, while US stocks are set to open nearly flat in pre-market trading.

During the weekend when traditional markets are closed, Trade.xyz — dubbed the "On-Chain Nasdaq" — leverages perpetual contracts to enable continuous trading and real-time price discovery that traditional finance cannot achieve, pricing in advance the upcoming Monday’s U.S. and South Korean stock market trends. Most popular U.S. stock assets on Trade.xyz saw minor declines from their Friday after-hours levels, with an overall flat-to-slightly-weak opening expected on Monday. Their weekend performance is as follows: SpaceX is currently priced at $144.66, down from $145.47 in U.S. Friday after-hours trading; Micron (MU) is at $869.99, versus $875.98 in Friday after-hours; SanDisk (SNDK) is at $1,275.4, compared to $1,292.43 in Friday after-hours; NVIDIA is at $213.57, versus $213.75 in Friday after-hours; Marvell Technology (MRVL) is at $225.84, versus $226.9 in Friday after-hours; Intel is at $88.89, versus $89.33 in Friday after-hours; Google is at $339.68, versus $339.22 in Friday after-hours; AMD is at $527.09, matching its Friday after-hours level. Popular South Korean stocks on Trade.xyz have dropped notably from their Friday closing prices, with an expected opening decline of 4%–5% on Monday. Their weekend performance is as follows: Samsung Electronics is currently priced at $155.81, down from $161.75 at Friday’s close; SK Hynix is at $907.95, versus $954.75 at Friday’s close.

59 minutes ago

Bitcoin Jesus renounced his U.S. citizenship to evade taxes, only to be ordered to pay nearly $50 million in expatriation tax a decade later.

Earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with Roger Ver, known as "Bitcoin Jesus", under which fraud and tax evasion charges against him will be dropped in exchange for a maximum fine of $49.9 million. As one of the earliest Bitcoin evangelists, Ver purchased large amounts of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he obtained citizenship of the Caribbean island nation of St. Kitts and Nevis, and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoin, worth over $70 million at the then-current price. He thought changing his nationality would let him escape the U.S.'s high taxes, but the U.S.'s strict "expatriation tax" foiled his plan. Under U.S. tax law, eligible expatriates must treat their global assets as if sold on the day before expatriation and pay capital gains tax. Ver reported $1.03 million in taxes, but not only failed to disclose his personal Bitcoin holdings, he also severely undervalued his company assets. A decade later, the IRS uncovered his fraudulent tax evasion (fraud and tax evasion are not subject to statute of limitations), ultimately forcing him to pay up to $49.9 million in back taxes, penalties, and interest—48 times the amount he had self-reported paying that year.

59 minutes ago

Justin Sun resumes trading PEPE after a two-year hiatus, receiving $28.44 million worth of the token from Poloniex's multi-signature address.

On-chain analyst Ai Yi (@ai_9684xtpa) has monitored that Justin Sun is trading PEPE again after a two-year hiatus. 22 hours ago, Sun’s address 0x176…0a132 received 7.2 trillion PEPE tokens from Poloniex’s multi-sig address, valued at $28.44 million. This marks his first on-chain PEPE transaction since June 2024, when the token was priced at $0.00001256.

59 minutes ago

Galaxy Research analyzes why Bitcoin weakened in October, pointing to weak corporate treasury buying and ETF outflows as the primary causes.

Galaxy Research Head of Research Alex Thorn points out that Bitcoin’s weakness in October is tied to weak growth in corporate Bitcoin reserves and net outflows from spot Bitcoin ETFs. Using the “institutional absorption vs. long-term holder address distribution” metric for analysis, the calculation is: spot ETF net inflows plus net additions to corporate reserves, minus the amount of Bitcoin that has been dormant on-chain for over five years and reactivated. Data shows that as of October 18, the year-to-date net value of this metric stood at roughly negative 127,300 BTC, meaning the distribution of old coins from long-term holding addresses has overall outpaced institutional uptake. The analyst also noted that the year-to-date net inflow of U.S. spot Bitcoin ETFs returned to positive territory in September and has barely held steady since, currently at around $355 million, with a small net outflow recorded so far in October.

59 minutes ago

Qubic discloses security incident: Approximately $1.3 million in QU tokens stolen, affecting 1,404 Qubic wallets.

Qubic announced that between 23:42 UTC yesterday and 01:26 UTC today, attackers exploited insufficient randomness in the seed of some wallets to access and siphon approximately 2.94 trillion QU tokens from 1,404 Qubic wallets. The root cause lies in the seed generation mechanism, not the Qubic protocol itself. Affected seeds include those created in any iPhone or iPad browser before October 18, 2026, those created in Mac Safari on the same date, and those generated via the Qubic iOS App before July 2025. The network has been halted at tick 85,371,949. 87.1% of the stolen funds remain in the Qubic network and are frozen, while the remaining 12.9% has been transferred to MEXC, with the associated receiving accounts also frozen. Qubic said the seed generation issue has been fixed in version 4.26.4. Subsequent actions will be decided by the Computor quorum per network rules, and a full technical report will be published after a fund recovery plan is finalized.

59 minutes ago

Viewpoint: Bitcoin has completed bottom hunting to liquidate long positions, may shift to a short squeeze next week, and maintains a bullish stance above $79,800.

Renowned trader Killa reviewed Bitcoin’s weekly chart trends, noting that last week, BTC fell from $87,000 to the $80,000 range before bouncing back 50%. After the current weekly chart opened, the token rallied on Monday but faced persistent resistance, eventually retesting the prior week’s low around $80,000. Currently, longs are the main targets of market liquidations, so there’s a high chance the trend will shift to targeting shorts next week. For short-term trades, closely watch for a retest of this week’s low at $79,800; if that occurs, look for long entry opportunities.
Killa laid out a clear observation framework: If BTC does not retest the lows, focus on the $83,600 level. If the price fails to break above this level, the market will remain in a range-bound capitulation phase; if it breaks through successfully, the rally will push higher. He expects next week’s weekly chart open will move upward, forcing late shorts who entered short positions against the recent rally to cover their positions. In the worst-case scenario for bulls, BTC could dip to the $76,000–$78,000 range. The analyst also explicitly ruled out the extreme scenario of a retest of $74,000.

59 minutes ago

US and South Korean stock market price preview for Monday: SK Hynix and Samsung are expected to open nearly 5% lower, while US stocks are set to open nearly flat in pre-market trading.

During the weekend when traditional markets are closed, Trade.xyz — dubbed the "On-Chain Nasdaq" — leverages perpetual contracts to enable continuous trading and real-time price discovery that traditional finance cannot achieve, pricing in advance the upcoming Monday’s U.S. and South Korean stock market trends.
Most popular U.S. stock assets on Trade.xyz saw minor declines from their Friday after-hours levels, with an overall flat-to-slightly-weak opening expected on Monday. Their weekend performance is as follows: SpaceX is currently priced at $144.66, down from $145.47 in U.S. Friday after-hours trading; Micron (MU) is at $869.99, versus $875.98 in Friday after-hours; SanDisk (SNDK) is at $1,275.4, compared to $1,292.43 in Friday after-hours; NVIDIA is at $213.57, versus $213.75 in Friday after-hours; Marvell Technology (MRVL) is at $225.84, versus $226.9 in Friday after-hours; Intel is at $88.89, versus $89.33 in Friday after-hours; Google is at $339.68, versus $339.22 in Friday after-hours; AMD is at $527.09, matching its Friday after-hours level.
Popular South Korean stocks on Trade.xyz have dropped notably from their Friday closing prices, with an expected opening decline of 4%–5% on Monday. Their weekend performance is as follows: Samsung Electronics is currently priced at $155.81, down from $161.75 at Friday’s close; SK Hynix is at $907.95, versus $954.75 at Friday’s close.

59 minutes ago

Bitcoin Jesus renounced his U.S. citizenship to evade taxes, only to be ordered to pay nearly $50 million in expatriation tax a decade later.

Earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with Roger Ver, known as "Bitcoin Jesus", under which fraud and tax evasion charges against him will be dropped in exchange for a maximum fine of $49.9 million. As one of the earliest Bitcoin evangelists, Ver purchased large amounts of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he obtained citizenship of the Caribbean island nation of St. Kitts and Nevis, and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoin, worth over $70 million at the then-current price. He thought changing his nationality would let him escape the U.S.'s high taxes, but the U.S.'s strict "expatriation tax" foiled his plan. Under U.S. tax law, eligible expatriates must treat their global assets as if sold on the day before expatriation and pay capital gains tax. Ver reported $1.03 million in taxes, but not only failed to disclose his personal Bitcoin holdings, he also severely undervalued his company assets. A decade later, the IRS uncovered his fraudulent tax evasion (fraud and tax evasion are not subject to statute of limitations), ultimately forcing him to pay up to $49.9 million in back taxes, penalties, and interest—48 times the amount he had self-reported paying that year.

59 minutes ago

Justin Sun resumes trading PEPE after a two-year hiatus, receiving $28.44 million worth of the token from Poloniex's multi-signature address.

On-chain analyst Ai Yi (@ai_9684xtpa) has monitored that Justin Sun is trading PEPE again after a two-year hiatus. 22 hours ago, Sun’s address 0x176…0a132 received 7.2 trillion PEPE tokens from Poloniex’s multi-sig address, valued at $28.44 million. This marks his first on-chain PEPE transaction since June 2024, when the token was priced at $0.00001256.

59 minutes ago

Galaxy Research analyzes why Bitcoin weakened in October, pointing to weak corporate treasury buying and ETF outflows as the primary causes.

Galaxy Research Head of Research Alex Thorn points out that Bitcoin’s weakness in October is tied to weak growth in corporate Bitcoin reserves and net outflows from spot Bitcoin ETFs. Using the “institutional absorption vs. long-term holder address distribution” metric for analysis, the calculation is: spot ETF net inflows plus net additions to corporate reserves, minus the amount of Bitcoin that has been dormant on-chain for over five years and reactivated. Data shows that as of October 18, the year-to-date net value of this metric stood at roughly negative 127,300 BTC, meaning the distribution of old coins from long-term holding addresses has overall outpaced institutional uptake. The analyst also noted that the year-to-date net inflow of U.S. spot Bitcoin ETFs returned to positive territory in September and has barely held steady since, currently at around $355 million, with a small net outflow recorded so far in October.

29 minutes ago

Qubic discloses security incident: Approximately $1.3 million in QU tokens stolen, affecting 1,404 Qubic wallets.

Qubic announced that between 23:42 UTC yesterday and 01:26 UTC today, attackers exploited insufficient randomness in the seed of some wallets to access and siphon approximately 2.94 trillion QU tokens from 1,404 Qubic wallets. The root cause lies in the seed generation mechanism, not the Qubic protocol itself. Affected seeds include those created in any iPhone or iPad browser before October 18, 2026, those created in Mac Safari on the same date, and those generated via the Qubic iOS App before July 2025. The network has been halted at tick 85,371,949. 87.1% of the stolen funds remain in the Qubic network and are frozen, while the remaining 12.9% has been transferred to MEXC, with the associated receiving accounts also frozen. Qubic said the seed generation issue has been fixed in version 4.26.4. Subsequent actions will be decided by the Computor quorum per network rules, and a full technical report will be published after a fund recovery plan is finalized.

29 minutes ago

Viewpoint: Bitcoin has completed bottom hunting to liquidate long positions, may shift to a short squeeze next week, and maintains a bullish stance above $79,800.

Renowned trader Killa reviewed Bitcoin’s weekly chart trends, noting that last week, BTC fell from $87,000 to the $80,000 range before bouncing back 50%. After the current weekly chart opened, the token rallied on Monday but faced persistent resistance, eventually retesting the prior week’s low around $80,000. Currently, longs are the main targets of market liquidations, so there’s a high chance the trend will shift to targeting shorts next week. For short-term trades, closely watch for a retest of this week’s low at $79,800; if that occurs, look for long entry opportunities.
Killa laid out a clear observation framework: If BTC does not retest the lows, focus on the $83,600 level. If the price fails to break above this level, the market will remain in a range-bound capitulation phase; if it breaks through successfully, the rally will push higher. He expects next week’s weekly chart open will move upward, forcing late shorts who entered short positions against the recent rally to cover their positions. In the worst-case scenario for bulls, BTC could dip to the $76,000–$78,000 range. The analyst also explicitly ruled out the extreme scenario of a retest of $74,000.

29 minutes ago

US and South Korean stock market price preview for Monday: SK Hynix and Samsung are expected to open nearly 5% lower, while US stocks are set to open nearly flat in pre-market trading.

During the weekend when traditional markets are closed, Trade.xyz — dubbed the "On-Chain Nasdaq" — leverages perpetual contracts to enable continuous trading and real-time price discovery that traditional finance cannot achieve, pricing in advance the upcoming Monday’s U.S. and South Korean stock market trends.
Most popular U.S. stock assets on Trade.xyz saw minor declines from their Friday after-hours levels, with an overall flat-to-slightly-weak opening expected on Monday. Their weekend performance is as follows: SpaceX is currently priced at $144.66, down from $145.47 in U.S. Friday after-hours trading; Micron (MU) is at $869.99, versus $875.98 in Friday after-hours; SanDisk (SNDK) is at $1,275.4, compared to $1,292.43 in Friday after-hours; NVIDIA is at $213.57, versus $213.75 in Friday after-hours; Marvell Technology (MRVL) is at $225.84, versus $226.9 in Friday after-hours; Intel is at $88.89, versus $89.33 in Friday after-hours; Google is at $339.68, versus $339.22 in Friday after-hours; AMD is at $527.09, matching its Friday after-hours level.
Popular South Korean stocks on Trade.xyz have dropped notably from their Friday closing prices, with an expected opening decline of 4%–5% on Monday. Their weekend performance is as follows: Samsung Electronics is currently priced at $155.81, down from $161.75 at Friday’s close; SK Hynix is at $907.95, versus $954.75 at Friday’s close.

29 minutes ago

Bitcoin Jesus renounced his U.S. citizenship to evade taxes, only to be ordered to pay nearly $50 million in expatriation tax a decade later.

Earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with Roger Ver, known as "Bitcoin Jesus", under which fraud and tax evasion charges against him will be dropped in exchange for a maximum fine of $49.9 million. As one of the earliest Bitcoin evangelists, Ver purchased large amounts of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he obtained citizenship of the Caribbean island nation of St. Kitts and Nevis, and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoin, worth over $70 million at the then-current price. He thought changing his nationality would let him escape the U.S.'s high taxes, but the U.S.'s strict "expatriation tax" foiled his plan. Under U.S. tax law, eligible expatriates must treat their global assets as if sold on the day before expatriation and pay capital gains tax. Ver reported $1.03 million in taxes, but not only failed to disclose his personal Bitcoin holdings, he also severely undervalued his company assets. A decade later, the IRS uncovered his fraudulent tax evasion (fraud and tax evasion are not subject to statute of limitations), ultimately forcing him to pay up to $49.9 million in back taxes, penalties, and interest—48 times the amount he had self-reported paying that year.

29 minutes ago

Justin Sun resumes trading PEPE after a two-year hiatus, receiving $28.44 million worth of the token from Poloniex's multi-signature address.

On-chain analyst Ai Yi (@ai_9684xtpa) has monitored that Justin Sun is trading PEPE again after a two-year hiatus. 22 hours ago, Sun’s address 0x176…0a132 received 7.2 trillion PEPE tokens from Poloniex’s multi-sig address, valued at $28.44 million. This marks his first on-chain PEPE transaction since June 2024, when the token was priced at $0.00001256.

29 minutes ago

Analyst: Bitcoin’s MVRV percentile drops below 30, still aligning with the characteristics of an accumulation zone.

Crypto analyst Darkfost posted that after Bitcoin hit resistance near $87,000, the MVRV percentile fell back below 30, marking a return to the post-market capitulation transition phase. He argues the current valuation still aligns with the traits of an accumulation zone. Darkfost explains that MVRV is used to compare Bitcoin’s market capitalization with its realized capitalization, where the latter is calculated based on the price of each BTC at the time of its most recent on-chain transfer. His approach does not rely solely on the raw MVRV value; instead, he measures the current value’s relative position in its historical evolution to reduce the impact of Bitcoin’s structural shifts and market cycles on indicator interpretation, while analyzing it within the current market environment. He points out that Bitcoin has only been at this valuation level roughly 25% of the time in its history. Though it has now exited the extreme undervaluation zone that historically always coincided with market lows, it still fits the characteristics of a typical historical accumulation zone.

1 minutes ago

A trader went long on $11.36 million worth of ZEC and $4.82 million worth of ETH.

According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, ZEC has corrected by over 24% in the past month. Trader solanadoomer (@Boomer) still holds ZEC long positions worth approximately $11.36 million, ranking 4th on ZEC’s long position leaderboard. His ZEC long positions use 10x leverage, holding 10,000 ZEC with an average entry price of $1,146.86, and currently have an unrealized loss of around $85,000. Additionally, the trader holds 25x leveraged long positions of 2,000 ETH, with a position value of roughly $4.82 million, average entry price of $2,376.18, and an unrealized profit of about $68,000.

1 minutes ago

Analyst at Tom Lee's fund: Now is a good time to buy tech stocks on dips, but diversification is needed.

Mark Newton, an analyst at Tom Lee’s fund, told CNBC that now is a good time to buy tech stocks on dips, but investors need to stay diversified and prepare for sector rotation. Over the past month, cross-asset volatility has risen sharply; the S&P 500 has pulled back roughly 6% recently, and the tech sector has seen a notable correction in the past week. Still, compared to its September rally, he notes tech stocks have suffered relatively limited losses. This year, the market has consistently exhibited sector rotation: the energy sector first rallied nearly 40%, gains then spread to tech, and the trend has now shifted to the healthcare sector, which is hitting record highs. Investors should prepare for sector shifts and maintain diversified portfolios. Steve Sosnick, chief strategist at Interactive Brokers, warned that even if investors do not actively allocate to AI, they may hold significant tech exposure via S&P 500 index funds. The market remains dominated by sector rotation for now, but he is concerned about continued declines in tech stocks and investors starting to question the returns on AI investments.

1 minutes ago

Elon Musk: Optimus and Cybercab will make up the vast majority of Tesla's value in the future.

Elon Musk posted on X that Optimus (Tesla’s humanoid robot) and Cybercab (self-driving taxi) will constitute the vast majority of Tesla’s future value. He noted that the only sectors capable of large-scale economic expansion are superintelligence, robotics, solar energy, and space transportation, adding that once superintelligence and robotics are achieved, progress in other areas will follow. When discussing the Roadster, Musk stated: "But the Roadster is very cool, so we will still produce it."

1 minutes ago

Reason Enables Claude Code and Codex to Assign Tasks Across Computers: They Can Communicate With Each Other, But Still Cannot Automatically Prevent Code Conflicts

Beating AI Flash News: Y Combinator-backed AI coding startup Reason has launched Reason Network, enabling cross-device direct communication and task assignment between agents from different vendors including Claude Code, Codex, Cursor, and OpenCode. For example, users can have Grok Bot assign tasks to Claude Code on their own device, then Codex on a colleague’s machine to review code. Agents send and receive messages directly, eliminating the need for constant human intermediation. Its core is a real-time updated agent contact list, where developers can see which team agents are online, which repository they’re modifying, what branch they’re using, and their current status. Agents like Claude Code and Codex can receive messages directly in existing sessions, no need to start a new chat. Each device runs a lightweight background process, enabling direct communication within the same local area network (LAN). For cross-network communication, it prioritizes peer-to-peer (P2P) connections, falling back to encrypted relays if direct connections fail. However, the code conflict prevention Reason advertises is not yet fully implemented. GitHub design docs show the feature to automatically detect multiple agents modifying the same file simultaneously is still in development. At present, the platform relies on shared work status to let agents coordinate proactively, rather than automatically preventing code overwrites. Reason Network’s underlying communication engine is built with Rust, derived from the existing open-source project tincan, and licensed under MIT or Apache 2.0.

1 minutes ago

Bitcoin ETFs recorded a net outflow of $228.4 million this week, with IBIT posting the largest net outflow.

According to data from Farside Investors, U.S. spot Bitcoin ETFs posted a combined net outflow of $228.4 million this week. Specifically, IBIT saw a net outflow of $165.4 million, FBTC recorded a net outflow of $60.2 million, BTC had a net outflow of $7.6 million, and BTCO posted a net outflow of $4.1 million. Meanwhile, MSBT and BITB notched net inflows of $6.7 million and $2.2 million respectively.

1 minutes ago

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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Pump.fun has rolled out support for perpetual futures (perps) for crypto assets including Bitcoin and Ethereum. The offerings also span RWA (real-world assets) perps covering the S&P 500, oil, and other U.S. stocks with up to 50x leverage, powered by Hyperliquid. 

Neither the platform nor its leadership has officially announced the update as of press time. However, the new perps feature is already live for trading. 

Source: Pump.fun Pump.fun will join a growing list of super-apps and wallets (Phantom, MetaMask, Rabbit Wallet, etc.) that are using Hyperliquid to offer leveraged trading across various asset classes. 

This marks a significant milestone and evolution for Pump.fun as it expands beyond just a Solana-based memecoin launchpad to include a DeFi platform and self-custody wallet. So, will the expansion boost PUMP and HYPE tokens? 

Will Hyperliquid integration boost PUMP and HYPE? Analysts are generally optimistic that the update will be net positive for both tokens. Such integrations are expected to increase users, trading volumes, and eventually, revenues for each protocol involved. 

In fact, Blockworks analyst Shaunda Devens billed it as a “monetization potential.”

PumpFun enabling perps through Hyperliquid is an example of the monetization potential you have when you move from pure infra (launchpad<>DEX) to owning the user as well (mobile<>terminal).

So far, Phantom, MetaMask, Trust Wallet, and Fomo are already generating $370K-$430K in weekly revenue. That’s over $22M in annualized revenue for only these three platforms. 

Assuming Pump.Fun pulls such a massive adoption scale, that’s over $20M in potential revenue. And since 50% of Pump.Fun revenue goes to PUMP buyback, it could boost the token’s value. 

Similarly, routing users to Hyperliquid translates to more volume and base protocol fees. With Pump.Fun bringing a new pipeline of traders, Hyperliquid will benefit in the long run too. 

Interestingly, Hyperliquid uses over 97% of its revenue for HYPE buybacks. So, any incremental revenue will likely scale HYPE value, especially during risk-on periods. 

In fact, DeFiLlama painted a similar picture. In 2026, HYPE’s price rally from $40 to over $80 was fueled by rising perp volume and revenue. Any brief corrections correlated with a slight dip in volume and revenue.     

Source: DeFiLlama  That said, PUMP has seen a 34% correction over the past few days. It broke below some key moving averages, which flipped its market structure bearish. 

However, whether the Hyperliquid integration will enable buyers to defend the next support zones at $0.003 and $0.004 remains to be seen. 

Source: PUMP/USDT, TradingView Final Summary Pump.fun launched crypto and RWA perps with up to 50x leverage powered by Hyperliquid. Integration could boost Pump.Fun traction and revenue, but it’s unclear if it can help reverse the 34% pullback in October.

Elon Musk: The only way to resolve the U.S. debt crisis is AI and robots.

Elon Musk stated that the government efficiency department (DOGE) reform he led ultimately came to nothing, proving "we simply cannot solve the fiscal deficit problem from within the government at all." Musk emphasized that "the only way to address the U.S. national debt is through artificial intelligence and robots," adding that "austerity measures alone cannot fix this problem." His remarks effectively acknowledge that the DOGE reform failed to meet expectations, while also suggesting a future administration could leverage increasingly capable AI to attempt resolving the issue again. Musk noted that neither the president, the House of Representatives, the Senate, nor the judiciary has the willingness to cut spending. He admitted he "went too far in some respects," having spent too much time away from his companies. "I should have stayed more behind the scenes... and this effort could have lasted just one or two months, rather than the four months I actually spent formally serving at the White House. I should have returned earlier to refocus on artificial intelligence," he said. (AXIOS)

3 minutes ago

UNCX discloses cross-chain attack on Smart Token Vesting V2, resulting in approximately $807,600 in losses.

According to an official incident report from UNCX Network, on October 14, attackers exploited a set of public vesting operations of Smart Token Vesting V2 to create a mismatch between the pool’s token balance and recorded shares, enabling controlled positions to withdraw excess tokens. The attack impacted four blockchains: Ethereum, BNB Chain, Base, and Robinhood, involving 10 tokens, with 11 confirmed withdrawal transactions. The verified economic value totals approximately $807,600, of which BNB Chain accounts for about $567,500. All involved contract calls did not utilize administrator privileges. Post-incident, white hats have returned 82,143,500 X tokens and 23.8682 ETH, with no major tokens remaining to be disposed of at this time.

3 minutes ago

The team behind Trump reaped $779 million to $1.16 billion in profits from crypto buyers, while the buyers have suffered 97% losses.

CryptoQuant founder Ki Young Ju published a post noting that the team behind the TRUMP crypto token generated a profit of $779 million to $1.16 billion from token holders, while buyers of the token incurred a 97% loss.

3 minutes ago

Shanghai Solana Enterprise Management Co., Ltd. has been registered, with Du Yanjing, co-head of Solana China, serving as its legal representative.

According to Qichacha, Shanghai Solana Enterprise Management Co., Ltd. was registered in June this year with a registered capital of 5 million yuan. Claire Du (Du Yanjing), co-head of Solana China, serves as its legal representative. Separately, Shanghai Yaokun Qiusuo Digital Technology Co., Ltd. was established in August this year with a registered capital of 10 million yuan, with Shanghai Solana Enterprise Management holding a 45% stake in the latter. Even Jiang (Jiang Yiwen), co-head of Solana Foundation’s China region, is chairman of Yaokun Qiusuo, while Du Yanjing acts as a director. Public information indicates Yaokun Qiusuo’s core business includes technical services, development, consulting, exchange, transfer and promotion; computer system services; information system integration services; information technology consulting; data processing services; internet data services; IoT technology services; wholesale of computer software, hardware and auxiliary equipment; information consulting services (excluding licensed services); enterprise management consulting; financial consulting; and conference and exhibition services (overseas exhibitions require approval from relevant authorities). It should be noted that "Solana" is a name adopted by a sole proprietorship, and there is currently no equity evidence linking the two companies to the Solana Foundation. This week, Solana team members shared photos announcing the opening of an office in Shanghai, China.

3 minutes ago

Arthur Hayes: The so-called crypto quantum threat is "nonsense", users only need to focus on wallet management.

In a recent interview with The Rollup, Arthur Hayes dismissed the so-called crypto quantum threat as "bullshit"—exaggerated and overblown, framing it as a known, manageable risk rather than a reason to sell assets. Hayes emphasized that effective protection hinges on wallet hygiene practices, such as avoiding address reuse and using updated signature types, noting that most risks are concentrated among users with poor address management. He does not view quantum computing as a current catalyst for panic or selling Bitcoin.

3 minutes ago

Thai police arrested a Chinese fugitive wanted by China on suspicion of money laundering and crypto transactions in Bangkok.

According to Thai media outlet Khaosod English, Thai immigration police recently arrested a 37-year-old Chinese national in Bangkok. The man is wanted by Chinese police on suspicion of involvement in a transnational criminal network and money laundering. Police said the criminal network in question involved transactions exceeding 500 million yuan (approximately 2.485 billion Thai baht). The suspect is alleged to have processed cryptocurrency and foreign exchange transactions for the criminal group via more than 133 accounts, and assisted members of the transnational criminal network in obtaining visas. Police added that the suspect evaded manhunts by falsifying residence registration documents, changing license plates, and altering vehicle appearances, before finally being apprehended at a luxury residence in Bangkok. Thai authorities will handle his overstay issues in accordance with the law and coordinate his deportation back to China for investigation.

3 minutes ago