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The team behind the Midnight Network has launched the claim portal for the Glacier Drop, opening up the first phase of the NIGHT token distribution. 

Following the launch, 33.6 million eligible addresses across eight major blockchains can now claim their free NIGHT tokens on the portal. The supported blockchains include XRP Ledger, Cardano, Solana, Bitcoin, BNB, Ethereum, Basic Attention Token, and Avalanche. 

Notably, the Glacier Drop portal went live just a day after Cardano founder Charles Hoskinson teased its launch in a cryptic tweet. It was captioned “tomorrow kids” and was accompanied by a GIF, which reads “So it begins.” 

Expectedly, the post elicited several reactions, with users suggesting that the team was preparing to launch the Glacier Drop claim portal. Interestingly, the portal has gone live, enabling eligible users to claim their NIGHT tokens. 

BREAKING: Midnight has opened the claim portal for the Glacier Drop 🔥

A free $NIGHT token distribution is now live for 33.6 million eligible addresses across $ADA, $BTC, $ETH, $XRP, $SOL, $BAT, $BNB, and $AVAX.

Cardano $ADA holders are eligible for the largest share. pic.twitter.com/itxmHygKpG

— Cardanians (CRDN) (@Cardanians_io) August 5, 2025

How to Claim NIGHT  Users can claim their tokens in four steps. The first step involves visiting the claim portal and connecting the “origin address.” It is worth noting that the origin address is the same as the one that qualified for the airdrop. 

Upon connecting this address, users can provide a destination address to receive the free NIGHT allocations. To complete the claim, users must accept the terms and conditions and also sign the transactions. 

Phases of NIGHT Airdrop  The Glacier Drop, which is the first phase of the claim, will last 60 days. Once this phase ends, the Scavenger Mine–the second phase–will commence immediately for the next 30 days. 

During this phase, users are required to complete computational tasks to earn a share of unclaimed tokens. Eligible users who missed the Glacier Drop will be presented with another opportunity to claim their tokens in a subsequent phase dubbed Lost-and-Found. Any unclaimed tokens after this event will be allocated to the Midnight treasury. 

ADA Holders Remain Biggest Gainers  Although the Glacier Drop supports addresses from major blockchains, Cardano users will receive the lion’s share. As previously reported, 50% of NIGHT’s token supply, equivalent to 12 billion tokens, is reserved for ADA holders. 20% of the supply, translating to 4.8 billion tokens, will be allocated to eligible users on the Bitcoin network. 

The remaining 30% supply, or 7.2 billion NIGHT, will be split among Avalanche, XRPL, Solana, Basic Attention Token, BNB, and Ethereum users. 

According to sources, Over 33 million addresses are eligible for claims:

ADA: 1,072,307

BTC: 17,562,278

XRP: 2,213,942

ETH: 7,862,092

SOL: 3,465,122

BNB: 1,213,677

AVAX: 227,793

BAT: 24,605

Users’ individual holdings of eligible tokens at the time of the snapshot will determine the amount of tokens they will receive. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

3 Made in USA Coins to Watch After the Weekend Crypto Crash

Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.

Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."

5 minutes ago

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

5 minutes ago

Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate

The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%

5 minutes ago

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

5 minutes ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

5 minutes ago

Новини

Відео

ЦіниДослідження

Заходи

Дані та індекси

Спонсоровано2 min read

100 dollar bill on table (Live Richer/Unsplash/Modified by CoinDesk)Дефіцит резервів у розмірі 456 мільйонів доларів, який змушений Джастін Сан рятувати власники токенів стейблкоїна TrueUSD тепер є предметом всесвітній наказ про блокування активів підтверджено Цифровим економічним судом Дубая.

Спір зосереджується на тому, чи були кошти з резервів TrueUSD неправомірно направлені до Aria Commodities DMCC, торгово-фінансової компанії зі штаб-квартирою в Дубаї, яка фінансувала постачання товарів, гірничодобувні проєкти та інші неліківідні підприємства на ринках, що розвиваються, згідно з адвокат позивача.

Aria, яка є частиною групи підприємств, контрольованих фінансистом Меттью Вільямом Британом, отримала кошти у 2021 та 2022 роках через рахунки, керовані гонконгським довірчим власником First Digital Trust.

First Digital Trust не одразу відповіла на запит CoinDesk щодо коментаря.

Techteryx стверджує, що ці перекази порушили умови зберігання та перетворили грошові резерви на довгострокові позики та приватні угоди, які не могли бути викуплені, коли власники стейблкоїнів намагалися здійснити виведення коштів.

У попередні коментарі за даними CoinDesk, Метью Британ з Aria Group заявив, що питання ліквідності більше стосуються строкових зобов’язань.

«ARIA CFF ніколи не позиціонував [свою] стратегію як високоліквідну або підходящу для резервів стейблкоїна», – раніше заявив він CoinDesk.

У своєму рішенні, датоване 17 жовтня 2025 року, суддя Майкл Блек KC заявив, що Techteryx продемонструвала «серйозні питання, які потребують розгляду», і що кошти повинні бути заморожені, щоб запобігти їх переміщенню або прихованню до того, як суди Гонконгу зможуть визначити право власності.

Блек заявив, що він дійшов висновку, що Techteryx продемонстрував правдоподібні підстави стверджувати, що кошти перебували під конструктивною довірою, тоді як Aria не надала «жодних доказів» того, як були переведені гроші або хто володів активами, придбаними за них.

Він також зазначив «реальний ризик» того, що Бріттейн, контролююча особа Aria, може розпорошити або реструктурувати активи «щоб ускладнити виконання будь-якого рішення суду.»

Це рішення є першим у світі наказом про заморожування, який був виданий Судом з цифрової економіки Дубая.

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Dubai Court Freezes $456M Related to Justin Sun’s TrueUSD Bailout

A Dubai court has frozen $456 million in assets linked to TrueUSD’s reserve shortfall, which Justin Sun previously covered to bail out token holders, CoinDesk reported today.

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According to the ruling, the funds in question were allegedly transferred from TrueUSD’s reserves to Aria Commodities DMCC, a Dubai-based trade-finance company controlled by British financier Matthew William Brittain. The transactions took place between 2021 and 2022 through accounts managed by Hong Kong trustee First Digital Trust.

TrueUSD issuer Techteryx claimed that the funds were used for illiquid investments including commodity shipments and private lending deals, making them unavailable when redemptions surged. Justice Michael Black KC found that Techteryx presented a credible case and highlighted the risk of Brittain restructuring assets to evade future judgments.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

For years, Justin Sun has been a controversial figure in the cryptocurrency markets, consistently making headlines with his complicated dealings. Many recall how Donald Trump’s presidency shielded Sun from potential legal issues in the U.S., thanks to his generous contributions to WLFI. However, it is not the United States putting Sun in a difficult position anymore, but rather Dubai.

Justin Sun CaseA recent court decision in Dubai has resulted in the freezing of $456 million in assets related to Sun’s plan to rescue TrueUSD (TUSD). It is crucial to understand Sun’s connection to TUSD, which is explored further in this section. Today, the Dubai Digital Economy Court approved the freezing of $456 million aimed at saving TrueUSD owners worldwide.

Despite Sun’s claims of having no official ties, the $456 million designated as TUSD reserves was directed towards a company named Aria Commodities DMCC. Funds were then allocated to various illiquid ventures, products, and diverse investments.

Under normal circumstances, TUSD reserves should have been maintained as liquid assets under Techteryx’s control. However, these reserves were transferred to Aria via First Digital Trust Limited and invested in ventures unsuitable for stablecoins. Matthew Brittain of Aria Group stated, “ARIA CFF was never presented as a high-liquidity or stablecoin reserve strategy.” This situation led to the Dubai Digital Economy Court’s historic decision to freeze global assets.

Justin Sun and His Intricate DealingsAt first glance, one might wonder what Sun’s role in this affair truly is. However, Justin Sun has always been at the heart of complex and potentially fraudulent endeavors. This case is no exception. Techteryx is a fully anonymous offshore entity. Although located in Hong Kong, the ownership of Techteryx, which was involved with TUSD since its early days, remains anonymous and is notably active on platforms linked to Sun.

Past evidence shows addresses associated with Sun were involved in minting and burning TUSD. Additionally, Sun’s initiated project, USDD, is financially tied to TUSD. Despite the difficulties in establishing direct connections, Sun’s significant influence is apparent, allowing for easy conclusions.

Moreover, the founder of Tron is no stranger to deception or such business activities. He denied association with Poloniex, although he was managing its employees. Similarly, he initially concealed his acquisition of HTX but later advertised the exchange after his ownership emerged. The USDD case followed a similar contentious path where he claimed no link to TUSD but was actively trying to save it.

Nonetheless, Justin Sun stands out as the most successful trickster in the crypto world, surpassing figures like SBF and Zhu Su. It’s likely that Sun will again escape unscathed, and the day he is finally caught will mark a significant event in the crypto ecosystem.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.

Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."

4 minutes ago

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

4 minutes ago

Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate

The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%

4 minutes ago

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

4 minutes ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

4 minutes ago

Оновлено 18 лист. 2025 р., 4:57 дп Опубліковано 18 лист. 2025 р., 12:49 дп Перекладено AI

2 min read

FDT's Vincent Chok Speaks at Consensus 2025 in Hong Kong (CoinDesk)Summary

Дубайський суд заморозив 456 мільйонів доларів, пов’язаних із резервами TrueUSD, які стали неліківідними після передачі до складних інвестиційних структур.First Digital Trust підтримує зусилля Techteryx щодо відновлення коштів, які були заблоковані в позиціях торгового фінансування з Aria Commodities DMCC.FDT порушує справу про наклеп проти Джастіна Сана, який стверджував, що довірена особа є неплатоспроможною, що впливає на стабільність стейблкоїна FDT.З судом у Дубаї замороження $456 мільйонів пов’язаний із резервами TrueUSD, First Digital Trust заявила, що підтримує зусилля Techteryx щодо відновлення коштів після того, як вони стали нелікідними у 2023 році внаслідок трансферів у складні інвестиційні структури, пов’язані з групою Aria, нестача яких потребував екстреної фінансової підтримки від Джастіна Сана для підтримки стабкоїна в роботі.

Ми вітаємо будь-які кроки, які сприяють компанії Techteryx у поверненні її коштів від суб’єктів Aria," – заявив Вінсент Чок із First Digital в електронному листі до CoinDesk. "Ми розуміємо, що суд зобов’язав Aria надати інформацію щодо активів, і з нетерпінням очікуємо результатів цього процесу.

FDT не брала участі у справі в Дубаї.

Зв’язок між FDT та Aria походить від колишньої ролі FDT як фідуціарного кастодіана резервів TrueUSD, які вона утримувала від імені Techteryx.

Як CoinDesk повідомив на початку цього року, Techteryx повідомила, що дала доручення FDT розмістити кошти у фонді Aria Commodity Finance Fund, зареєстрованому на Кайманових островах. Однак, згідно з судовими матеріалами в Гонконзі, приблизно $456 мільйонів було замість цього переведено до Aria Commodities DMCC, окремої структури Aria, що базується в Дубаї, де активи опинилися у заморожених неліквідних позиціях у сфері торгового фінансування.

Судовий наказ Цифрового економічного суду Дубая заморозив ці кошти.

Генеральний директор FDT Вінсент Чок повідомив CoinDesk, що компанія діяла виключно як фідуціарний посередник і виконувала всі операції точно відповідно до інструкцій Techteryx та її представників.

Окремо, FDT продовжує порушити справу про наклеп проти Sun, який у квітні заявив, що керуючий є "фактично неплатоспроможним", що призвело до тимчасового розриву прив’язки стейблкоїна FDT, FDUSD.

"На цьому етапі немає публічних оновлень для повідомлення," – сказав Чок виданню CoinDesk.

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Table of contents

TrueUSD (TUSD), a stablecoin pegged to the U.S. dollar at a 1:1 ratio designed to maintain a stable value in volatile cryptocurrencies, has released an announcement of freezing TUSD by the Dubai International Financial Centre Court (DIFC Court). The purpose of this announcement is to stop the misuse of TUSD all over the world illegally.

Basically, the DIFC Court has ordered to freeze $456 million TUSUD reserves misappropriated by Aria, First Digital Trust, and their Co-Conspirators. In history, for the first time, TUSD was moved inappropriately and against the law. TrueUSD has released this news through its official X account.  

Digital Economy Court Protects Holders with Landmark Freezing Order The only purpose of this step is to safeguard the digital assets of holders by ensuring the safety and security of their assets. The Digital Economy Court clearly emphasized the continuation of both a proprietary injunction and a worldwide freezing order against Aria Commodities Dubai Multi Commodities Centre (DMCC).

DMCC has accepted the proof of real risk of dissipation; moreover, it claimed that the world’s first freezing order has been issued by the DIFC Court’s Digital Economy Court. It is very disappointing for a country that makes its name by doing such illegal actions against the assets of users. This thing highlights the insecure system of the country as well.

DIFC’s Stand on Digital Asset Security This decision of Financial Centre Court (DIFC Court) is giving a clear message to the broader term that it is the first responsibility of every country to safeguard its people’s assets at any cost. In addition, this is also showing the seriousness of DIFC about the security of digital assets.

This will be a precedent for other countries to avoid any negligence in the matter of digital assets, which will not be tolerated at any cost. This will be the example of how digital funds would be frozen if any misuse were to happen in the future.

AUTHOR

Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.

Nov 27, 2025, 3:15 p.m.

4 min read

Justin Sun at a press conference in Hong Kong on Nov. 27 (Tron modified by CoinDesk)Summary

Justin Sun escalated his accusations against First Digital Trust, building on claims raised in April by alleging the Hong Kong trust company not only rerouted TUSD reserves offshore but also fabricated transaction documents to mask the transfers.Sun urged Hong Kong regulators to intervene, warning that gaps in the city’s Trust or Company Service Provider regime could undermine the upcoming stablecoin licensing framework.FDT sought an injunction to restrain Sun from holding a press conference, claiming that he is spreading defamatory remarks about the company.HONG KONG — Justin Sun, the founder of the Tron blockchain and an adviser to TrueUSD issuer Techteryx, returned to the podium in Hong Kong with a more forceful version of allegations he first aired in April, accusing First Digital Trust (FDT), a fiduciary company, and its CEO Vincent Chok of exploiting gaps in the city’s trust company framework to move hundreds of millions of dollars in TUSD reserves offshore.

At a Thursday press conference in the city, Sun alleged the Hong Kong trust company not only rerouted the stablecoin's reserves offshore but also fabricated transaction documents to mask the transfers.

Techteryx acquired TUSD in 2020 and appointed FDT to be the fiduciary responsible for holding and managing the reserves backing the token.

The follow-up press conference comes months after Sun disclosed a liquidity shortfall in TUSD’s reserves and alleged that Hong Kong’s trust regulations let FDT reroute nearly half a billion dollars into illiquid offshore vehicles without authorization, as CoinDesk reported earlier this year.

In court filings, Techteryx claimed the transfers went to Aria Commodities DMCC — not to a fund called Aria CFF, as it initially said it was directed — and were tied up in illiquid commodity and infrastructure deals that could not be redeemed, allegations Aria has denied.

Unauthorized money transfers?

Both Techteryx and Aria agree that the reserves ended up in Aria-linked entities. The dispute centers on whether FDT was authorized to send the funds there and whether it understood the assets would be committed to long-term, illiquid trade-finance projects, which are inappropriate for stablecoin reserves.

Techteryx says it instructed FDT to place reserves only in the Aria Commodity Finance Fund, a Cayman vehicle. FDT denies it diverted the money instead to Aria Commodities DMCC, saying it acted strictly on instructions from Techteryx or its representatives. Aria, for its part, says the assets were placed into term-based financing arrangements consistent with the agreements it believed were in place.

Since the first press conference, Dubai’s Digital Economy Court has issued a worldwide freeze on assets tied to the alleged misappropriation. The ruling does not determine liability and was granted on the basis that there were serious issues to be tried.

The order locks down the assets until Hong Kong courts resolve the dispute, adding external pressure on local regulators to address the custodial practices at the center of the case. The episode has become a test of how Hong Kong regulates trust companies at a time when the city is preparing a stablecoin licensing regime in which custodial controls will be central to investor protection.

All of this raises questions about how Hong Kong’s regulators and law enforcement will respond as the city prepares a stablecoin licensing regime that depends on strong custodial oversight.

Hong Kong lawmakers acknowledge flaws in Trust regime

Critics, like Sun, have called out Hong Kong’s Trust or Company Service Provider (TCSPs) regime, which licenses and oversees non-bank trust companies, for allowing client assets to be moved without the transaction-level safeguards that apply to banks. Under the framework, trust companies are not required to obtain prior regulatory approval for large transfers.

TCSPs are supervised by the Companies Registry rather than financial regulators, and do not face capital requirements or transaction monitoring comparable to banks or licensed securities intermediaries.

“Any owner of the trust can basically transfer their client's assets into any account he want. You can just have one single transaction … and only one person can do that,” Sun said in an interview. “The regulators need to close it immediately.”

Lawmakers in Hong Kong have acknowledged this issue. Legislative Council member Johnny Ng — an advocate for the territory's Web3 sector — said in April that multiple suspected fraud cases involving trust companies had already been reported to his office and that the city needs to strengthen its trust-company regulatory framework.

FDT says it was following directionsFDT maintains it followed Techteryx's directions, denies misappropriating funds and says it does not control Aria’s assets.

Instead, it argues that the money became difficult to retrieve because Aria raised anti-money laundering (AML) and know-your-customer (KYC) concerns about Techteryx’s ownership, not because FDT knowingly placed reserves into illiquid deals.

The Techteryx directions cited by FDT, Sun alleged, were fabricated.

"We have evidence they have been fabricating all the transaction documents,” Sun claimed in an interview with CoinDesk.

In response to a request for comment from CoinDesk, Chok said FDT sought an injunction to restrain the press event because the company is currently suing Sun for defamation.

"[This was to] prevent exactly what happened: unproven and baseless defamatory remarks about FDT," Chok told CoinDesk. "Sun presented no evidence to support his extraordinary claims other than sharing public information about normal proceedings in this saga."

On X, FDT said it welcomes any steps that assist Techteryx in recovering its assets from Aria.

"Our position remains grounded in documented facts and the judicial record. We want to see the funds released and justice done through proper legal process," Chok continued.

Sun said that he expects more developments before the end of the year.

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Zilliqa is currently trading at range lows within a critical support region marked by the value area low and swing low. A bullish broadening wedge is forming, indicating a potential structural reversal if the resistance level is broken.

Zilliqa (ZIL) is forming a potential bottoming pattern at a historically significant price zone. The asset is currently consolidating near the value area low, which also aligns with a prior swing low, making this area structurally important for any upcoming bullish reversal.

The technical formation in play is a bullish broadening wedge. While the upper resistance of this pattern has not yet broken, a decisive breakout with strong volume would likely signal the start of a bullish expansion phase. Price action is coiling, and historical data suggests that breakouts from this region often result in aggressive upside moves.

Key technical points Bullish Broadening Wedge: Developing at value area low and swing low region Resistance Not Yet Broken: Pattern remains inactive until dynamic resistance is breached Volume Profile Below Average: Breakout needs strong volume influx to confirm activation ZILUSDT (1W) Chart, Source: TradingView ZIL is trading within a broadening wedge structure near the value area low, which historically has acted as a springboard for upward moves. This type of wedge is considered a bullish continuation pattern, especially when found at range lows. However, for it to be considered active, price must first break above the dynamic upper resistance that defines the wedge’s expanding shape.

Currently, the price remains inside the pattern, and volume is below average. This suggests that bulls have not yet stepped in with conviction. However, the setup remains constructive. A reclaim of the value area low, combined with a breakout above the wedge’s resistance, would be the key trigger for pattern activation.

Once confirmed, the price could rally quickly toward the value area high and the next point of control. This is supported by past price behavior, where similar setups led to explosive upside moves. Traders should closely watch for a rise in volume, as this will be the first indication that the pattern is transitioning from development to breakout.

What to expect in the coming price action Zilliqa remains in a consolidation phase, trading within a bullish broadening wedge at the value area low.

The pattern has not yet activated, but a breakout above resistance with strong volume could kickstart a powerful rotation toward higher levels.

Until then, ZIL remains on watch, with the potential for significant upside once the structure confirms.

Major cryptocurrency exchange Binance has announced its support for the upcoming network update and hard fork of the altcoin Zilliqa (ZIL). The update, scheduled for September 24, 2025, will temporarily suspend ZIL coin deposits and withdrawals on the Zilliqa network. However, trading of the altcoin on Binance will continue without interruption during this period.

Zilliqa Network Update and Hard Fork DetailsAccording to Binance, the Zilliqa network update and hard fork are set to occur around 21:00 Turkish Standard Time on September 24, 2025, when the blockchain reaches a height of 10,153,271. Binance will manage all technical aspects of this process, ensuring that users do not need to take any action.

Once the network update and hard fork are complete and stability is restored, ZIL coin deposit and withdrawal services through the network will resume. Binance has indicated that there will not be an additional announcement to inform users of the resumption of these services.

Impact on User TransactionsBinance reassured that throughout the network update and hard fork, ZIL coin trading operations will remain unaffected. Only ZIL coin deposits and withdrawals through the network will experience a temporary halt. As a result, users will not be able to conduct deposit or withdrawal transactions during this period.

Binance noted that services will be restored after the network update is complete. Thus, while trading will continue uninterrupted, deposit and withdrawal functions will also become operational again.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.

Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."

4 minutes ago

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

4 minutes ago

Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate

The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%

4 minutes ago

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

4 minutes ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

4 minutes ago

06.11.2025 - 05:43

Update: 06.11.2025 - 05:43

Binance, one of the world's largest cryptocurrency exchanges, announced that it will support the planned network upgrade and hard fork process on the Zilliqa (ZIL) network.

Binance to Support Zilliqa (ZIL) Network Upgrade and Hard Fork According to the exchange's announcement, the network upgrade will occur at block height 13,514,400 and this process is expected to begin approximately at around 10:18 AM on 17-11-2025.

To protect the user experience during the upgrade and hard fork, Binance will temporarily suspend all token deposits and withdrawals on the Zilliqa (ZIL) network starting November 17, 2025, at 09:18. However, the exchange stated that this will not affect the trading of ZIL tokens.

The statement stated that Binance will manage all technical requirements on behalf of users, and once the upgrade is complete and the network is confirmed to be stable and secure, deposits and withdrawals will be reopened. The company also stated that no additional announcements will be made after this process is complete.

Zilliqa, a high-performance Layer-1 blockchain, stands out for its scalability and transaction efficiency. This update is expected to enhance network security and optimize transaction speed. Binance's technical support initiative is considered a significant step that will contribute to the development of the Zilliqa ecosystem.

*This is not investment advice.

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Zilliqa (ZIL) price trades above $0.0058 on Wednesday, up more than 13% over the last two days. Bullish sentiment strengthens as trading volume and Open Interest (OI) rise, alongside positive funding rates. On the technical side, indicators suggest a rally continuation, targeting the $0.0065 mark.

Zilliqa on-chain and derivatives data suggest bullish biasSantiment data indicate that the ZIL ecosystem’s trading volume (the aggregate trading volume generated by all exchange applications on the chain) reached $92.59 million on Monday, the highest level since July 4, and steadied at around $27.46 million on Wednesday. This volume rise indicates a surge in traders’ interest and liquidity in Zilliqa, boosting its bullish outlook.

Zilliqa trading volume chart. Source: SantimentDerivatives data further support the positive view for ZIL. CoinGlass’s data show that ZIL futures OI across exchanges reached $13.48 million on Tuesday, the highest level since October 11. An increasing OI represents new or additional money entering the market and new buying, which could fuel the current ZIL price rally. 

ZIL open interest chart. Source: CoinglassCoinglass’s OI-Weighted Funding Rate data shows that the number of traders betting that the price of ZIL will slide further is lower than those anticipating a price increase.

The metric has flipped to a positive rate, standing at 0.0059% on Wednesday, indicating that longs are paying shorts. Historically, as shown in the chart below, when the funding rates have flipped from negative to positive, Zilliqa’s price has rallied sharply.

ZIL funding rate chart. Source: CoinglassZilliqa Price Forecast: ZIL bulls aiming for the $0.0065 markZilliqa price surged more than 9% on Monday and closed above the 50-day Exponential Moving Average (EMA) at $0.0055. ZIL continued its rally the next day, finding support around the 50-day EMA and closing above the daily resistance at $0.0058. As of Wednesday, ZIL is trading at around $0.0058.

If ZIL continues its upward trend, it could extend the rally toward the next resistance at $0.0065, its 100-day EMA.

The Relative Strength Index (RSI) on the daily chart is 65, above the neutral level of 50, indicating bullish momentum is gaining traction. Moreover, the Moving Average Convergence Divergence (MACD) shows a bullish crossover that remains intact, with rising green histogram bars above the neutral level, further supporting the positive outlook.

ZIL/USDT daily chartHowever, if ZIL faces a correction, it could extend the decline toward the 50-day EMA at $0.0055.

Zilliqa (ZIL) is nearing key resistance, trading at $0.0050 on Wednesday; a rejection could trigger a deeper correction. The weakening derivatives positioning among traders further supports the bearish price action in ZIL. In addition, the technical outlook suggests further correction as momentum indicators turn negative.

Zilliqa’s waning investor participationZilliqa derivatives show signs of weakness, with futures Open Interest (OI) on the Binance exchange dropping to $2.25 million on Wednesday, levels not seen since mid-December, reflecting waning investor participation.

Zilliqa open interest chart at Binance exchange. Source: CoinglassZilliqa Price Analysis: ZIL bears are in control of the momentumZilliqa price closed below the ascending trendline (drawn by connecting multiple lows since December 19) on Tuesday, indicating a shift in market structure. As of Wednesday, ZIL is nearly at this breakout zone, which roughly coincides with daily resistance at $0.0051 and the 50% price level (drawn from the December low of $0.0042 to the January 12 high at $0.0061) at $0.0052, making this a key reversal zone.

If ZIL faces rejection from these resistance levels, it could extend the decline toward the December 31 low of $0.0046. 

The Relative Strength Index (RSI) on the daily chart reads 45, below the neutral level of 50, indicating bearish momentum is gaining traction. The Moving Average Convergence Divergence (MACD) also showed a bearish crossover on Tuesday, further supporting the negative outlook.

ZIL/USDT daily chartHowever, if ZIL recovers and closes above the daily resistance at $0.0051 on a daily basis, it could extend the advance toward the 50-day Exponential Moving Average (EMA) at $0.0054.

As Zilliqa 2.0 enters its next phase, the challenge is no longer about core technology. The network is live, EVM-compatible, and Production-ready. The real question now is simple: how do we help more builders get from zero to mainnet?

“More on-chain activity starts with better builder onboarding.”

Funded as part of gZIL Collective Season 1, Plunder Academy aims to solve this challenge. It is a free, hands-on learning platform designed to help anyone - from complete beginners to experienced developers - start building real applications on Zilliqa EVM.

A Practical Learning Path for Zilliqa EVMPlunder Academy is a structured, end-to-end learning journey built specifically for Zilliqa’s EVM environment, guiding learners from fundamentals to production-ready deployments.

Five Themed Learning ZonesThe curriculum is organised into 23 core modules across five themed areas:- Jungle Island (fundamentals), Arctic (advanced Solidity), Desert (token and NFT launchpads), Castle (on-chain systems), and Future (frontend integration).

Built to Solve a Real Ecosystem NeedPlunder Academy was created to lower the barrier to entry for Developers building on Zilliqa 2.0, enabling faster experimentation and real mainnet deployments.

“Education should lead to execution — not just theory.”

Free, Open, and AccessiblePlunder Academy is completely free and open to anyone at https://plunderacademy.com 

AI-Powered Learning and SecurityThe platform includes AI-driven Solidity code review, Exploit detection, and a Chatbot trained on Zilliqa EVM resources, reinforcing security-first development.

Who Is It For?Plunder Academy supports beginners, founders, non-technical users, and experienced developers exploring Zilliqa EVM.

Standing Apart from Other PlatformsNFT-based achievements, real-world security training, and Zilliqa-specific tooling set Plunder Academy apart from generic Solidity courses.

Real Usage and TractionUsage metrics and milestone results are available at https://plunderacademy.com/presentation.

From Learning to On-Chain ImpactPlunder Academy shows how community-led funding can translate into real ecosystem impact. By lowering the barrier to building on Zilliqa EVM and reinforcing secure development practices, it helps turn learning into deployment — and builders into contributors.

As the ecosystem grows, initiatives like this will continue to play a key role in driving sustainable, on-chain innovation.

Zilliqa (ZIL) price is extending its gains, rallying over 20% to $0.006 on Tuesday after soaring nearly 34% the previous day. The upcoming Cancun upgrade this week is boosting investor sentiment, despite broader weakness in the crypto market. ZIL continues to attract strong buying interest, supported by rising trading activity and improving derivatives metrics.

Zilliqa’s Cancun EVM version support boosts sentimentZilliqa’s upcoming Cancun Ethereum Virtual Machine (EVM) version support, which will activate on the mainnet through a hard fork, is scheduled for this week on Thursday. This update aims to deliver faster communication and finer-grained control, as posted by Zilliqa’s X.

In addition, Zilliqa’s community updates blog on Monday announced that Liechtenstein Trust Integrity Network (LTIN) will join the Zilliqa network as the first government-backed institutional validator, reinforcing Zilliqa’s regulatory-readiness direction.

These developments and announcements have boosted bullish sentiment among investors, as ZIL has rallied more than 60% so far this week despite broader weakness in the crypto market.

ZIL’s on-chain and derivatives data show bullish biasSantiment data indicates that the Zilliqa ecosystem’s trading volume (the aggregate trading volume generated by all exchange applications on the chain) reached $278.07 million on Tuesday, the highest volume since December 2024. This volume rise indicates a surge in trader interest and liquidity in Zilliqa, boosting its bullish outlook.

ZIL trading volume chart. Source: SantimentCoinGlass data shows that futures OI in Zilliqa at exchanges reached $47.76 million on Tuesday, up from $5.72 million on Monday, the highest levels since December 9, 2024. An increasing OI represents new or additional money entering the market and new buying, which could fuel the current ZIL price rally.

ZIL open interest chart. Source: CoinglassZilliqa Price Forecast: ZIL bulls in control of the momentumZilliqa price started the week on a positive note, rallying more than 34% on Monday and closing above the 50-day Exponential Moving Average (EMA) at $0.005. As of writing on Tuesday, ZIL is extending its gains by more than 20%, trading above the 100-day EMA at $0.006.

If ZIL continues its upward trend, it could extend the rally toward the 200-day EMA at $0.007.

The Relative Strength Index (RSI) on the daily chart reads 67, above the neutral level of 50, indicating bullish momentum gaining traction. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on Tuesday, further supporting the bullish view.

ZIL/USDT daily chartIf ZIL faces a correction, it could extend the decline toward the 50-day EMA at $0.005.

04.02.2026 - 05:43

Update: 04.02.2026 - 05:43

Cryptocurrency exchange Binance has announced it will support the planned network upgrade and hard fork process on the Zilliqa (ZIL) network.

According to the exchange’s statement, token deposits and withdrawals on the Zilliqa network will be temporarily suspended to protect user experience and ensure a smooth technical transition.

Binance will suspend deposits and withdrawals on the Zilliqa (ZIL) network on February 5, 2026, at approximately 12:00 PM. The network upgrade and hard fork are expected to take effect at block height 19,486,411. Binance stated that this block height will be reached around 1:00 PM.

The exchange stated that the technical work would only affect transaction processing on the network. Accordingly, trading of Zilliqa (ZIL) and related tokens on the Binance platform will continue uninterrupted. Users will be able to continue trading in spot and other markets during the upgrade period.

Binance also stated that all technical requirements that may arise during the upgrade process will be automatically handled by the exchange, and users will not need to take any extra action. In other words, users are not obligated to migrate their tokens to the new network or perform manual updates.

It has been announced that deposits and withdrawals will be reopened after the upgrade on the Zilliqa network is complete and its stable operation is confirmed. Binance also noted that there will be no further announcement regarding the resumption of transfers. Therefore, users are advised to take the temporary suspension hours into account when planning their transactions.

*This is not investment advice.

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Stablecoins play a foundational role in decentralized ecosystems, enabling liquidity, trading efficiency, and interoperability across markets.

As Zilliqa continues building Regulatory-ready and Institutionally aligned blockchain infrastructure, we are strengthening how stablecoin liquidity operates within the network.

Today, we are introducing zUSDC, a USDC representation powered by Zilliqa’s native XBridge infrastructure.

This transition strengthens Zilliqa’s control over critical financial infrastructure while ensuring stablecoin liquidity continues to operate seamlessly across the ecosystem. 

What is zUSDC?zUSDC is a representation of USDC bridged to Zilliqa through the network’s native XBridge infrastructure.

zUSDC Contract Address 0xe59f97Fac09ee00AEEF320485ee45D5CcfbBC1E9

The migration process involves:

Bridging existing USDC liquidity back to EthereumMinting zUSDC under Zilliqa-managed infrastructureRe-bridging funds to Zilliqa via XBridgeRedeploying liquidity into ecosystem trading pools For users, zUSDC continues to support the same core functionality, including:

Stablecoin trading liquidityDEX liquidity pool participationArbitrage opportunities across stable pairs such as kUSDC, zUSDT, and zUSDCWhy This Change Is Being Made?USDC liquidity has historically been available on Zilliqa through third-party bridging infrastructure. While this enabled early ecosystem access, current usage patterns show that most stablecoin liquidity is concentrated within DEX pools supporting trading and arbitrage activity.

Operating external infrastructure under these conditions introduces operational dependency without proportional ecosystem benefit.

To improve long-term reliability and infrastructure sovereignty, Zilliqa is transitioning stablecoin liquidity to native infrastructure through XBridge. This ensures sustainable operations while maintaining uninterrupted ecosystem functionality.

This transition also aligns with Zilliqa’s broader strategy of building Institutionally compatible blockchain infrastructure, where critical financial rails are operated directly by the network.

Migration TimelineThe transition occurs in phased stages designed to minimize ecosystem disruption.

Phase 1 - Preparation (Completed)

Deployment of zUSDC support via XBridgePhase 2 - Liquidity Migration (Completed)

Existing bridged USDC unwound via EthereumLiquidity re-bridged through XBridgeDeployment of zUSDC liquidityPhase 3 - Ecosystem Rollout (Completed)

Public introduction of zUSDCLaunch of zUSDC trading pair on PlunderswapPhase 4 - Legacy Infrastructure Sunset

Debridge support on Zilliqa will sunset on 31 March 2026Impact on UsersUsers holding USDC on Zilliqa should bridge their assets out via Debridge as soon as possible.

Available Debridge widget:

https://plunderswap.com/bridgehttps://stakezil.com/?tab=bridgeAfter 31 March 2026, Debridge will no longer operate on Zilliqa.

Any user holding USDC on Zilliqa after this date will need to email Zilliqa team for support, [email protected].

This transition does not remove stablecoin liquidity from Zilliqa. Instead, liquidity is being migrated to network-operated infrastructure to improve long-term stability and operational resilience.

Operational EnhancementsAlongside the launch of zUSDC, Zilliqa is improving XBridge operations to enhance reliability and processing efficiency.

Xbridge UI overhaul has already started. Check out Xbridge with brand new and clean UI https://xbridge.zilliqa.com.

While XBridge settlements are not instant, we currently work on progressive automation of bridge transaction processing that will bring back seamless token transfer across all supported chains.

Looking AheadThe launch of zUSDC marks another step in Zilliqa’s evolution toward Native financial infrastructure.

As the ecosystem expands across Institutional integrations, RWA platforms, and Cross-chain financial infrastructure, maintaining control over critical network components becomes increasingly important.

Long-term ecosystems are built on infrastructure they own and operate.

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