Track market-moving stories before they get noisy

Cover image via U.Today 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.

A Shiba Inu mega whale has moved another 600 billion SHIB worth roughly $3.09 million. 

The holder has continued to unwind a position that once accounted for a huge share of the meme coin’s supply.

According to on-chain analyst Ember, the wallet originally acquired 1.03 quadrillion SHIB in 2020 for just 37.8 ETH, worth around $13,700 at the time (roughly 17.4% of Shiba Inu’s total supply). At SHIB’s 2021 peak, the enormous position was worth as much as $9.1 billion.

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The whale has been gradually reducing that position over the years. Ember estimates that it has now sold a cumulative 10.06 trillion SHIB, worth about $66.6 million at an average price of roughly $0.0000066 per token. 

Despite the sale, the address still holds approximately 93.27 trillion SHIB. It is currently valued at around $478 million.

Meanwhile, SHIB is facing more bearish pressure. At press time, the token is trading at about $0.000005093. It has dipped by 1.47% at the time of the latest data. 

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SHIB's 24-hour spot volume stood at $17.9 million in sharp contrast with $45.7 million in futures volume. Open interest was around $51.75 million.

There has been selling pressure in the near term, according to the data provided by the CoinGlass analytics platform. SHIB recorded net futures outflows of roughly $213,490 over the past hour, $383,540 over four hours and $476,760 over eight hours. Spot flows were also negative across those periods.

About $63,620 worth of SHIB positions were liquidated over the previous 24 hours, with longs accounting for roughly $49,250 compared with $14,370 in shorts. 

Not an immediate bearish sign The whale's 600 billion SHIB transfer should not automatically be interpreted as an immediate market sale. A blockchain transfer can indicate a rather mundane movement between different wallets. 

Nevertheless, the scale of the remaining position makes the wallet significant. At current prices, the roughly 93.27 trillion SHIB still held by the address account for more than 1.5% of SHIB's circulating supply. 

SHIB is trading lower across the four-hour, 24-hour, and seven-day windows, while leveraged long positions are taking most of the liquidation hit. 

It remains to be seen whether the latest transfer proves to be an isolated move. 

Cover image via U.Today 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.

According to the Shibburn website, 3.59 million SHIB were burned at the start of September, a month deemed 'poor' for risk assets in general. This represented a 49.90% drop in the daily burn rate.

The 3.59 million SHIB burned in the last 24 hours amounted to $18 in monetary value, representing a slow but steady destruction of Shiba Inu token supply.

In the last seven days, 51.02 million SHIB were burned, a 119% increase in weekly burn rate. This adds to a total of 417.02 million SHIB in the last 30 days.

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At the time of writing, Shiba Inu had seen 41.08% or 410,844,031,939,232 SHIB tokens out of its initial 1 quadrillion supply burned in 21,714 transactions.

The drop in daily SHIB burn coincides with a broad drop in prices in the market, with most crypto assets, including Shiba Inu, trading in the red. At the time of writing, SHIB was down 1.06% in the last 24 hours to $0.0000051 and down 3.51% weekly.

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A broad risk selloff has seen major cryptocurrencies fall over the last 24 hours, with $366 million in total market liquidations according to CoinGlass data. Longs accounted for the majority at $295 million while shorts came in at $71 million.

Rate expectations are putting pressure on the markets, including crypto. The macro backdrop presents significant headwinds, with Fed Chair Kevin Warsh's hawkish Jackson Hole speech last Friday, which highlighted elevated inflation contributing to a global bond sell-off. Traders on the CME FedWatch tool put the odds of a hike at the Federal Reserve's September meeting at 66%, up from about 40%.

Will Shiba Inu Override the September Jinx?Traders are watching as crypto enters what is commonly referred to as "Rektember." Since 2013, September has been Bitcoin's worst-performing month on average, producing a loss of around 3% and only producing five positive monthly returns.

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September has usually been a negative month for Shiba Inu, marking three out of four years in losses since 2022. September 2024 marked an exception, with Shiba Inu rising 26.97%.

A bull flag pattern hints at a little encouragement for the bulls, with short-term support and resistance now watched at $0.00000488 and $0.00000537.

@Shibtoken launched in August 2020 with a fixed supply of one quadrillion $SHIB tokens on the Ethereum blockchain. From day one, the project's anonymous creator, known only as Ryoshi, sent half of that total supply, roughly 500 trillion tokens, directly to Ethereum co-founder @VitalikButerin, unsolicited. At the time, CoinDesk described the move as an apparent marketing stunt.

The donation and the burn Buterin did not simply ignore the windfall. In May 2021, he donated 50 trillion $SHIB to India's Crypto Relief COVID-19 fund. A few days later, on May 16, 2021, he sent 410,241,996,771,871 tokens, more than 410 trillion $SHIB, to a dead blockchain address, permanently removing them from circulation. The tokens were worth roughly $6.7 billion at the time of the burn.

In a note attached to the transaction, Buterin explained his reasoning plainly: he did not want to be a "locus of power of that kind." The move represented 90% of his total $SHIB holdings and, in a single transaction, wiped out more than 41% of the token's original one quadrillion supply.

A floor set by an outsider The scale of that event has never been matched by the project's own burn program. Community-led burns, which continue today, typically total a few million tokens per day, a figure that is negligible against a remaining circulating supply still measured in the hundreds of trillions. As one recent analysis noted, a single 24-hour period saw roughly 13.5 million $SHIB burned against a total supply of around 589 trillion tokens, amounting to less than 0.000003% of all tokens in a day.

The practical consequence is straightforward. $SHIB's supply floor was set not by its own team or community, but by one decision made by a person who never asked to hold the tokens in the first place. Every subsequent burn effort operates in the shadow of that single 2021 transaction.

Sources
CoinDesk: Vitalik Buterin Burns $6B in SHIB Tokens (May 2021)
CryptoNews: How Does SHIB's Massive Supply Make Its Burn Mechanism Feel Symbolic?

One of Shiba Inu's earliest and largest holders is still quietly drawing down a position that once made crypto history. The wallet has moved another 600 billion $SHIB, worth roughly $3.09 million, continuing a gradual exit that has been tracked closely by on-chain analysts.

A $13,700 Bet That Became a $9 Billion Position The backstory is remarkable. The holder sat on the position for years without making significant moves.

The scale of the original entry is what makes every subsequent transfer notable. Controlling 17.4% of that supply from a single wallet, bought for less than $14,000, remains one of the more striking trades in the history of meme coins.

Steady Exits, but a Mountain of $SHIB Remains Despite those sales, the position remains enormous.

Analysts caution against reading too much into any single transfer.

Sources:
U.Today: Shiba Inu Mega Whale Offloads Hundreds of Billions of SHIB Tokens
Coinotag: Shiba Inu Whale Wallet Moves 600 Billion Tokens Worth $3.09M
Blockonomi: Shiba Inu Whale Shifts $3M in SHIB as Selling Pressure Builds

Shiba Inu community member Mazrael announced the deployment of Safe v1.4.1 on the Shibarium network, highlighting a significant update for the project. This upgrade brings additional smart-account and multisignature wallet functionalities to Shiba Inu’s layer-2 blockchain.

Mazrael confirmed that nine Safe contracts are now deployed and verified on Shibariumscan, the dedicated explorer for Shibarium. A pull request named ‘safe-deployments PR#1666’ has also been submitted to register these deployments, providing further transparency and accessibility for developers and users.

He shared on X:

Safe v1.4.1 (9 contracts) live + verified on Shibariumscan. Safe-deployments PR#1666 opened.

Safe, formerly known as Gnosis Safe, is a widely adopted protocol for creating multisignature wallets and smart accounts. Its infrastructure allows multiple signers to manage and authorize blockchain transactions, which enhances both security and flexibility for projects and individuals.

Mazrael mentioned that Safe reviews canonical-deployment registrations in two-week intervals and releases updates monthly. This structured approach ensures that upgrades and new deployments are rolled out systematically.

Mini dictionary: Safe (formerly Gnosis Safe) is a smart contract wallet protocol enabling multisignature control of crypto assets, commonly used by DAOs and projects requiring secure multi-user authorization.

Upgrade details and contract verificationA related GitHub document noted that all nine Safe v1.4.1 contracts have been deployed on the Shibarium mainnet at canonical addresses via the Safe Singleton Factory (0x914d7Fec6aaC8cd542e72Bca78B30650d45643d7), and each contract’s code has been verified through Shibariumscan.

Previously, Shibarium had Safe v1.3.0 registered through the eip155 deployment set. With pull request #1666, version 1.4.1 is now added at canonical addresses, matching the addresses used on other blockchains and enabling Safes on Shibarium to share addresses with those on other networks. This cross-network consistency was not possible with the earlier eip155 factory setup.

VersionDeployment SetAddress Consistencyv1.3.0eip155No cross-network matchingv1.4.1canonicalStandardized across chainsFor all deployed contracts, addresses align with ‘deployments.canonical.address’ and their respective on-chain runtime code hashes match the ‘deployments.canonical.codeHash’ stored in the Safe repository, confirming their authenticity and correctness.

Status of the Shibarium network and explorerMazrael addressed speculation that Shiba Inu’s Shibarium network had ceased to function, stating that the layer-2 blockchain remains fully operational. He emphasized that the network infrastructure is under ongoing maintenance and migration, and Shibarium’s community continues to be active.

Currently, Shibariumscan is in the middle of a reset process with 50% of blocks indexed so far. This follows an outage on August 11, after which Shibariumscan transitioned to Cloudflare protection and began a broader infrastructure migration.

The Shibarium layer-2 network is still up and running, with infrastructure actively maintained and migrated, ensuring ongoing operations for its community.

Cronos validators erased 10,000 blocks to reverse the Tectonic exploit, saving $69 million in frozen assets while sparking a fierce debate about whether a blockchain that can be rewound on command deserves to call itself one.

Summary

Cronos validators halted block production on Aug. 30, rolled back more than 10,000 blocks and restored the chain to its pre-exploit state, erasing roughly two hours of transaction history for every user on the network. The Tectonic attacker pumped TONIC 100x in 20 minutes using roughly $600,000, supplied 364.6 trillion inflated tokens as collateral and borrowed approximately $75 million from the lending protocol. Only about $6 million escaped to Ethereum before the halt; the remaining $69 million sat frozen at Cronos addresses until the rollback wiped the attack transactions from the canonical chain. Tectonic’s total value locked collapsed from $121.7 million to roughly $3 million, a 97.5% decline, within 48 hours of the exploit. RedStone’s co-founder said the oracle reported accurately and blamed Tectonic’s collateral controls, calling the attack preventable with a single parameter: a borrow cap tied to executable liquidity. Cronos did something on Aug. 30 that most blockchains claim they cannot do and would never do. Its validators coordinated an emergency halt, agreed to discard more than 10,000 blocks of canonical history and restarted the chain from a snapshot taken before a lending protocol called Tectonic lost $75 million to a collateral manipulation attack. The stolen funds, minus roughly $6 million that had already crossed to Ethereum, simply ceased to exist on the restarted chain.

The response worked. It contained the damage. It probably saved depositors from losing everything they had in Tectonic.

And it raised a question that the industry has avoided answering since Ethereum’s DAO fork in 2016: if a small group of validators can rewrite a chain’s history to reverse theft, what exactly separates that chain from a database with extra steps? The answer matters more now than it did in 2016, because the industry has spent the intervening decade telling institutions, regulators and retail users that blockchains offer something traditional financial infrastructure does not: transactions that cannot be reversed by any single authority. Cronos proved that claim does not apply universally.

How Tectonic lost $75 million in 20 minutes The attack followed a pattern so well-documented that DeFi security researchers have a name for it: a Mango-style pump-and-borrow.

Tectonic, the largest lending protocol on Cronos with roughly $121.7 million in total value locked and $82.7 million in active loans, allowed users to post TONIC, its governance token, as collateral. TONIC had a 20% collateral factor, meaning users could borrow assets worth up to one fifth of their posted collateral’s reported value. That parameter assumed TONIC’s reported price reflected something close to its actual liquidation value. It did not.

The attacker spent an estimated $600,000 buying TONIC across thin Cronos markets, pushing the token’s price roughly 100 times higher within about 20 minutes. The attacker then supplied 364.6 trillion TONIC to Tectonic at the inflated valuation, creating a reported collateral position worth approximately $375 million. Against that phantom collateral, the attacker borrowed roughly $75 million in liquid assets from other depositors.

The numbers tell the story cleanly. A $600,000 investment turned into a $75 million withdrawal. The return on capital was roughly 12,400%. The collateral backing the loan could not have been sold for a fraction of its reported value without crashing the price back to where it started. Tectonic’s lending markets had been drained using their own pricing assumptions.

Before the exploit, Tectonic held nearly half of all capital deposited across Cronos’s DeFi applications. Within 48 hours, its TVL collapsed from $121.7 million to roughly $3 million. The protocol that was supposed to anchor Cronos’s DeFi ecosystem had become its most expensive liability.

The halt: validators pull the emergency brake Cronos validators detected the exploit within minutes and made a decision that no truly decentralized network could make quickly: they stopped producing blocks.

The halt froze everything. Not just Tectonic. Every transfer, every smart contract interaction, every bridge transaction across the entire Cronos network went dead. Users who had nothing to do with Tectonic could not move their funds. Bridges connecting Cronos to Ethereum and other chains stopped processing. RPC providers serving applications built on Cronos went dark.

The timing mattered enormously. By the time validators shut down block production, the attacker had managed to bridge approximately $6 million to Ethereum, where Cronos validators have no authority. The remaining $69 million sat at identified Cronos addresses, frozen but technically still in the attacker’s control on the halted chain.

Kris Marszalek, the CEO of Crypto.com, posted that the exchange and app continued operating normally and that “all funds are safe.” That statement referred specifically to assets held through Crypto.com’s centralized services, not to funds deposited in Tectonic. The distinction matters. Crypto.com and Cronos are closely associated, but Tectonic operates as a separate decentralized application. A failure in one does not necessarily compromise the other, and Marszalek’s assurance covered only the centralized side.

JUST IN: The Sandbox hit by major exploit as attackers mint 49B unbacked $SAND

The team isolated liquidity on BSC and Base, disabled bridging, and is preparing a compensation plan for affected LPs pic.twitter.com/zEktGZJbNG

— crypto.news (@cryptodotnews) August 23, 2026 The rollback: erasing 10,000 blocks of everyone’s history Instead of restarting from the halted state and hoping to freeze the attacker’s addresses through governance or technical intervention, Cronos validators chose the nuclear option. They restored the chain to a snapshot taken before the exploit, rolled back more than 10,000 blocks and resumed block production from block 90,896,189.

The attack transactions ceased to exist on the canonical chain. So did every other transaction that occurred during those erased blocks. Legitimate trades, token transfers, contract deployments, and any other activity that happened to overlap with the roughly two-hour window were gone.

Cronos described the halt as a “validator-consensus emergency action” to protect users. The chain’s postmortem, promised but not yet published, should explain the exact process validators used to agree on the restoration point. What we know is that the decision was made quickly, executed by a small validator set, and reversed the canonical history of a public blockchain.

Tatum, an infrastructure provider serving developers on Cronos, had to replay all chain data from block 90,896,188 to bring its systems back in sync. Other RPC providers, explorers, and bridges needed similar resets. The rollback did not just affect the attacker. It forced every service connected to Cronos to reconcile a new version of reality.

Why the oracle was not the problem The instinct after a price-manipulation exploit is to blame the oracle. RedStone co-founder Marcin Kazmierczak rejected that framing in a statement to crypto.news.

“The oracle was not wrong. It accurately reported the price of TONIC on the pool it was reading from at that moment,” Kazmierczak said.

The distinction matters. An oracle that reports the current market price of a token is doing its job, even if that price has been artificially inflated. The failure sits with the protocol that accepts the reported price as safe for lending without checking whether the token could actually be sold at that valuation.

Kazmierczak identified the missing safeguard: borrow caps tied to executable liquidity. Such a cap limits borrowing based on how much of the collateral could realistically be sold without crashing its price. Even if TONIC’s reported value spiked 100x, a properly set borrow cap would have restricted borrowing to what the market could absorb.

“Reporting a price and validating that a price is safe to lend against are two different jobs, and Tectonic’s design conflated them,” he said.

He dismissed the idea that a longer time-weighted average price window would have prevented the attack. A 100-fold price increase in 20 minutes, he argued, is not a volatility event that smoothing will fix. It is a signal that the asset should never have been collateral at any meaningful size.

This attack is not new. That is the problem. The playbook the Tectonic attacker used is nearly identical to the one Avraham Eisenberg executed against Mango Markets in October 2022, draining more than $100 million by inflating the thinly traded MNGO governance token and borrowing liquid assets against it. A Manhattan jury convicted Eisenberg of commodities fraud, commodities manipulation and wire fraud. A federal judge later vacated the convictions over venue problems and insufficient evidence on the wire fraud count.

The Eisenberg case is relevant beyond the technical parallels. His legal defense argued that the protocol’s rules allowed what he did, that the smart contracts functioned as designed and that exploiting a design flaw is not the same as committing fraud. The jury disagreed, but the vacated convictions left the legal status of this attack vector unresolved. Anyone replicating the playbook today operates in genuine legal ambiguity, which may partly explain why the attacks keep happening.

Three days before the Tectonic exploit, an attacker drained $8.7 million from Moonwell on Base using the exact same technique against the illiquid MAMO token. Moonwell responded by dropping borrow caps to 1 wei across its Base Core Markets, effectively shutting down new lending. The fix was available before the attack. The protocol chose not to implement it until the damage was done.

Moola Market on Celo lost funds through the same pattern in October 2022, the same month as Mango Markets. Four years later, the attack still works because the economic incentive to list governance tokens as collateral outweighs the perceived risk. Protocol teams benefit from higher TVL numbers. Governance token holders benefit from increased utility. The cost of weak collateral parameters stays hidden until someone tests whether the market can absorb a sudden liquidation of the posted tokens. It cannot. It never can. The liquidity that would need to exist to make these tokens safe as collateral at their listed collateral factors simply does not exist for low-cap governance tokens.

Cosmos EVM chains were told to halt after a separate security incident on Aug. 25. KiiChain reported 148.3 million KII drained through 18 attacks. MANTRA stopped its network days earlier while investigating another incident. Three chain halts in one week. The frequency alone should concern anyone who treats finality as a property their blockchain actually has.

LATEST: Moonwell loses about $9 million in a Base oracle attack

The exploiter pumped illiquid MAMO from $0.01 to nearly $0.47 and used it as inflated collateral to borrow cbBTC and USDC pic.twitter.com/Q6T41JOlS3

— crypto.news (@cryptodotnews) August 27, 2026 The DAO fork comparison and why it does not quite fit Ethereum’s 2016 DAO fork is the obvious precedent. An attacker exploited a reentrancy vulnerability to drain roughly $60 million (at the time) from The DAO, and the Ethereum community voted to hard fork, creating a new chain that reversed the theft and an original chain (Ethereum Classic) that preserved the canonical history.

The comparison is instructive but the differences matter more than the similarities.

The DAO fork took weeks of public debate. CoinDesk, Reddit, and Bitcointalk threads ran thousands of comments. Miners voted with their hashrate. The community fractured, producing Ethereum Classic as a permanent monument to the principle that code is law. The process was painful enough that Ethereum has treated immutability as near-sacred ever since. The Ronin bridge lost $625 million in 2022. The Wormhole bridge lost $320 million the same year. Nobody seriously proposed rolling back Ethereum for either.

Cronos accomplished something similar in hours with a handful of validators. No community vote. No weeks of debate. No chain split. No fork preserving the original history for those who disagreed. The validators agreed, rolled back, and moved on. The speed is the problem, because a rollback that requires broad community consensus and weeks of deliberation is a last resort, while a rollback that a small validator set can execute within hours is an administrative tool. And administrative tools get used.

The validator concentration explains the speed. Because the Cronos chain is maintained by a relatively small number of validators, many of which are controlled by or closely associated with Crypto.com, coordinating a halt and rollback requires agreement from far fewer independent parties than it would on Ethereum, Bitcoin, or any chain with a large and diverse validator or miner set. This is not a bug in the response to the Tectonic exploit. It is the structural condition that made the response possible.

As one critic framed it: if $75 million warrants a rollback, what about $50 million? $10 million? And beyond hacking attacks, what other kinds of events would be enough for validators to press the reload button? The absence of a published governance framework for when rollbacks are appropriate means the answer is whatever the validator set decides at the time. That is not decentralized governance. That is discretion, and discretion without rules is just power.

Who lost money in the erased blocks The rollback contained the exploit. It also erased legitimate activity.

Every user who executed a transaction on Cronos during the roughly two-hour window between the exploit and the halt had their activity reversed. Trades on decentralized exchanges were undone. Token transfers between wallets were nullified. Smart contract interactions that had nothing to do with Tectonic were wiped from the canonical chain as collateral damage of the state restoration.

Cronos has not published data on how many non-exploit transactions were lost. The 10,000-plus erased blocks represent roughly two hours of network activity at Cronos’s normal throughput. For a chain that had recorded more than 100 million transactions since launch and supported over 500 developers, even two hours represents a meaningful volume of legitimate operations.

The asymmetry is striking. Tectonic depositors who lost funds to the exploit got their balances restored to pre-attack levels. But anyone who completed a legitimate trade, deposit, or withdrawal during the erased window had their transaction voided without compensation or even acknowledgment.

This creates a strange incentive. If you are robbed on Cronos, validators might rewrite history to make you whole. If your legitimate transaction happens to fall within the blast radius of someone else’s hack, you lose it. The rollback optimizes for one kind of harm and creates another.

No validator set has explained how they weigh these competing interests. The Cronos postmortem should address it. Whether it will is another question.

What the rollback means for builders on Cronos Developers building applications on Cronos now face a design constraint that did not exist before Aug. 30: any state their application creates can be retroactively erased by validator consensus.

For a simple token swap, the consequences are annoying but manageable. The user can resubmit. For applications that interact with external systems, the implications are more serious. A payment processor that confirms a Cronos transaction and ships a product has no recourse if the transaction later gets rolled back. An oracle that pushes data to Cronos and triggers actions on other chains based on confirmation cannot un-trigger those actions.

The problem compounds for protocols that span multiple chains. If a user deposits on Cronos and that deposit triggers a mint on another chain, a Cronos rollback removes the deposit but not the mint. The cross-chain state becomes inconsistent, and reconciliation falls on the protocol team, not the validators who ordered the rollback.

Tatum’s response illustrates the infrastructure cost. The company had to replay all chain data from the restored block to bring its APIs back in sync. Every indexer, subgraph, and data service that tracks Cronos faced the same resync burden. For infrastructure providers operating across dozens of chains, supporting a chain that might roll back at any time adds operational cost that chains with credible finality do not impose.

The Trump Media and Crypto.com CRO treasury venture, which was terminated on Aug. 7, had proposed using Cronos for tokenized assets. Had that deal survived to the Tectonic exploit, the rollback would have erased tokenized equity positions. That scenario alone should give any real-world asset tokenization project pause before choosing a chain where validators can rewrite history.

JUST IN: Governance attack on Term Labs causes $8.5M loss

CertiK reported 2,843 ETH and $1.6M DAI concentrated at one address following the exploit pic.twitter.com/ujL8QtFok3

— crypto.news (@cryptodotnews) August 24, 2026 The $6 million that proves the limit The $6 million the attacker bridged to Ethereum before the halt survived the rollback. It sits on a chain that Cronos validators cannot touch.

This is the physical constraint that every rollback faces. A blockchain’s authority ends at its own boundaries. Once value crosses to another chain, the receiving chain’s consensus rules apply. Ethereum’s validators did not agree to Cronos’s rollback and have no obligation to honor it. The attacker’s Ethereum balances are final in a way their Cronos balances turned out not to be.

The gap matters for anyone building cross-chain applications on Cronos or similar networks. If a chain can be rolled back, any value that has not left the chain before the halt is at risk of being erased. Bridges become the escape hatch, and speed of bridging becomes a security property that protocol designers did not plan for.

The attacker knew this. The first thing the stolen funds did was move toward Ethereum. The roughly two-hour window between the exploit and the halt was a race between the attacker’s bridging speed and the validators’ coordination speed. The validators won most of it. But $6 million is not nothing.

What to watch Cronos postmortem publication. The validator set promised a full accounting of the exploit, the halt decision, the rollback process and the restart. Until that document appears, the community cannot evaluate whether adequate safeguards existed or whether the rollback followed any defined governance process. Tectonic’s TVL and depositor treatment. TVL collapsed from $121.7 million to $3 million. Whether depositors receive compensation, a recovery plan, or nothing will signal how Cronos handles protocol failures within its ecosystem. CRO price behavior after the rollback. A validator set that can rewrite history should trade at a governance discount relative to chains where that is not possible. Whether CRO reflects that discount will show how the market prices immutability risk. Other chains adopting the rollback playbook. MANTRA, Ontology and the Cosmos EVM chains all halted recently. If any of them use Cronos as a precedent for state rollbacks, the practice could normalize across smaller chains. Borrow cap adoption across DeFi lending protocols. RedStone’s Kazmierczak identified the fix. Whether protocols implement it, or continue listing low-liquidity governance tokens without borrow caps, will determine how often this exact attack recurs. What happened to Cronos on Aug. 30? Cronos validators halted block production after an attacker exploited Tectonic, the chain’s largest lending protocol, for approximately $75 million. Validators then rolled back more than 10,000 blocks, restoring the chain to its state before the exploit and erasing the attack transactions from the canonical chain history.

How did the Tectonic attacker steal $75 million? The attacker spent roughly $600,000 to pump TONIC, Tectonic’s governance token, approximately 100x in 20 minutes. The attacker then supplied 364.6 trillion inflated TONIC as collateral and borrowed $75 million in liquid assets from other depositors. The attack exploited Tectonic’s 20% collateral factor on a token with almost no real liquidity.

Did the Cronos rollback recover all stolen funds? No. Approximately $6 million had already been bridged to Ethereum before validators halted block production. Those funds exist on Ethereum, where Cronos validators have no authority. The remaining $69 million was effectively erased when validators restored the chain to its pre-exploit state.

Is Cronos the first blockchain to roll back after a hack? No. Ethereum’s 2016 DAO fork is the most prominent precedent, reversing roughly $60 million in stolen funds. The key difference is that Ethereum’s fork took weeks of debate and a community vote, while Cronos accomplished its rollback in hours with a small validator set and no public vote.

What is a Mango-style pump-and-borrow attack? Named after the 2022 Mango Markets exploit, this attack inflates a thinly traded governance token, supplies it as collateral on a lending protocol and borrows liquid assets against the inflated valuation. The borrowed assets are real and liquid; the collateral is not. Tectonic and Moonwell were both hit by this pattern within three days of each other in August 2026.

Could the Tectonic exploit have been prevented? RedStone co-founder Marcin Kazmierczak said yes. A borrow cap tied to executable liquidity would have limited how much could be borrowed against TONIC regardless of its reported price. The oracle reported the correct market price. The protocol’s failure was accepting that price as safe for lending without checking whether the token could be sold at that valuation.

What does the Cronos rollback mean for other blockchains? Three separate blockchains halted within one week in late August 2026: Cronos, the Cosmos EVM chains and MANTRA. If Cronos’s rollback is treated as a successful response, smaller chains with concentrated validator sets may adopt the same approach, potentially normalizing state reversals as a security tool.

Should I keep funds on Cronos? This is educational analysis, not investment advice. The rollback showed that Cronos validators can and will alter the chain’s history to contain damage. Whether that makes the network safer or less trustworthy depends on whether you value the ability to reverse theft more than you value transaction finality. Assets bridged to other chains before a halt are not subject to Cronos rollbacks.

Disclaimer: This article is for informational purposes only and does not constitute investment or financial advice. All figures cited were accurate as of Sept. 2, 2026. The information presented here reflects publicly available data and attributed statements. Readers should conduct their own research before making any financial decisions.

Serenity: Sivers Expands InP Production Capacity, Unlocking Potential $100 Billion-Level Market Space for AI Optical Communications

Serenity has issued a statement noting that Sivers Semiconductors (SIVE) plans to expand its indium phosphide (InP) manufacturing capacity in Glasgow, Scotland, targeting an annual production output of approximately 100 million continuous-wave distributed feedback (CW DFB) lasers, with the expanded capacity set to launch in Q4 2027. The expansion plan was officially announced by Sivers. Based on Sivers’ historical pricing of roughly $50–$100 per 8-laser array, Serenity estimates the new capacity could generate potential annual revenue of $625 million to $1.25 billion—this is a model projection, not the company’s official revenue guidance. Serenity said it was surprised by the scale of capacity unlocked via Sivers’ hybrid manufacturing model, particularly amid ongoing laser supply constraints in the AI data center optical communications industry. The expansion is primarily aimed at meeting demand for AI data centers and high-speed optical interconnects.

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Ukrainian police have dismantled a cryptocurrency fraud ring in Kyiv, with the case involving up to $1 million in monthly illicit proceeds.

Ukraine’s National Police and Security Service have seized a fake cryptocurrency investment platform network based in Kyiv. The scam group used Telegram to distribute fake investment ads, luring victims to a counterfeit trading platform to steal their wallet assets. Investigations confirmed the group defrauded 62 victims across more than 20 countries, including Germany, Poland, France, the UK, Canada, Israel, and other regions. Fraudsters displayed false returns via forged trading interfaces; when users applied for withdrawals, they tricked them into authorizing small test transactions under the pretext of “account verification”, then exploited built-in crypto-theft programs to transfer funds from victims’ wallets. Ukrainian security authorities stated the criminal ring is led by a 25-year-old IT professional, with a peak monthly operation scale of $1 million. Police conducted 34 searches in Kyiv and its surrounding areas, seizing over 100 computers, more than 100 mobile phones, 79 SIM cards, and a large number of related devices. The case remains under further investigation, as police pursue additional suspects, identify more victims, and trace the full scale of stolen funds.

10 minutes ago

OpenAI Accelerates Embodied Intelligence Push, Sam Altman Says It 'Will Definitely Develop Humanoid Robots'

Beating AI News Flash: OpenAI CEO Sam Altman stated that the company "will definitely develop humanoid robots, and will also explore other forms of robots." Altman believes that since most real-world facilities and tools are designed around humans, humanoid structures are better suited to operate in physical environments. OpenAI is currently restructuring its robotics team, recruiting talents in areas including robot control algorithms, actuator design, data collection, and Embodied AI. Earlier around 2021, OpenAI shut down its early robotics project due to insufficient real-world data to train robot systems. Now, with advancements in large models and robot data infrastructure, the company is re-investing heavily in this field. Altman has repeatedly expressed interest in Embodied AI and humanoid robots before, noting that it would be a limitation if AI had near-general intelligence but was unable to perform tasks in the real world.

10 minutes ago

Bloomberg: Low volatility in US equities may signal risks, while gold's advantage over US Treasuries is near a historic high.

Bloomberg commodities strategist Mike McGlone wrote in a note that U.S. stock market volatility relative to gold is at its lowest level since 2007, and as markets enter their traditional volatile season, this situation could impact the performance of gold, stocks, and bonds in the second half of this year. McGlone noted that the ratio of the SPDR Gold ETF (GLD) to the iShares 20+ Year U.S. Treasury Bond ETF (TLT), which he tracks, is near an all-time high, indicating gold is performing extremely strongly relative to long-term U.S. Treasuries. He said that historically, extremely low stock market volatility occurred ahead of the 2008 financial crisis, and whether the current market will repeat a similar scenario remains to be seen. After gold surged to around $5,600 per ounce in the first quarter of this year, it may face pullback pressure similar to that seen after crude oil prices peaked in 2008. McGlone pointed out that commodity markets have a reversal effect after "rising too fast". After crude oil hit its peak in 2008, it weakened continuously relative to its 60-month moving average, with successive lower highs and lower lows. At that time, crude oil's premium relative to its long-term moving average hit its highest level since the 1973-1974 oil crisis. In February this year, gold once reached a premium of about 2.2 times its 60-month moving average, a level last seen in 1980. However, the difference is that this round of gold's rise has set an unprecedented record amid a non-high-inflation environment, so its subsequent trend remains to be watched.

10 minutes ago

International oil prices continue to climb, with both WTI and Brent crude up over 1%.

According to Bitget market data, both US and Brent crude oil prices rose by over 1%. WTI crude oil is currently trading at $90.01 per barrel, while Brent crude oil stands at $95.26 per barrel.

10 minutes ago

Claude E-commerce Agent open-sourced: Partner merchants see a 35% increase in shopping cart volume and a 60% rise in customer purchase rate.

Beating AI News Flash: Anthropic has open-sourced Claude Commerce Agents, a set of reference code enabling merchants to build their own shopping and operations agents. The suite includes two agents: one for consumers to search for products, compare items, bundle multiple goods, and add to cart; the other for merchants to monitor sales, inventory, pricing, and marketing. The code is licensed under Apache 2.0. Notably, the shopping agent only passes the cart to the merchant’s own checkout page—no direct payment processing interface is included. For the merchant agent, any adjustments to pricing, restocking, or promotions must first generate pending changes that require manual approval before implementation. These restrictions are not limited to prompts: rules around payments, product sourcing, pricing adjustment ranges, and manual approvals are enforced at the code level. Anthropic does not recommend splitting capabilities like search, returns, and pricing into multiple sub-agents. Instead, it uses a single Claude model that retains full conversation context, loading different skills on an as-needed basis. The company states that in comparisons across multiple enterprise deployments, this approach delivers higher quality, typically uses fewer tokens, and has lower latency. According to Anthropic, one partner saw a ~30%–35% increase in shopping cart size and a ~60% rise in customer purchase completion rates after deployment.

10 minutes ago

Serenity: Sivers Expands InP Production Capacity, Unlocking Potential $100 Billion-Level Market Space for AI Optical Communications

Serenity has issued a statement noting that Sivers Semiconductors (SIVE) plans to expand its indium phosphide (InP) manufacturing capacity in Glasgow, Scotland, targeting an annual production output of approximately 100 million continuous-wave distributed feedback (CW DFB) lasers, with the expanded capacity set to launch in Q4 2027. The expansion plan was officially announced by Sivers. Based on Sivers’ historical pricing of roughly $50–$100 per 8-laser array, Serenity estimates the new capacity could generate potential annual revenue of $625 million to $1.25 billion—this is a model projection, not the company’s official revenue guidance. Serenity said it was surprised by the scale of capacity unlocked via Sivers’ hybrid manufacturing model, particularly amid ongoing laser supply constraints in the AI data center optical communications industry. The expansion is primarily aimed at meeting demand for AI data centers and high-speed optical interconnects.

5 minutes ago

Ukrainian police have dismantled a cryptocurrency fraud ring in Kyiv, with the case involving up to $1 million in monthly illicit proceeds.

Ukraine’s National Police and Security Service have seized a fake cryptocurrency investment platform network based in Kyiv. The scam group used Telegram to distribute fake investment ads, luring victims to a counterfeit trading platform to steal their wallet assets. Investigations confirmed the group defrauded 62 victims across more than 20 countries, including Germany, Poland, France, the UK, Canada, Israel, and other regions. Fraudsters displayed false returns via forged trading interfaces; when users applied for withdrawals, they tricked them into authorizing small test transactions under the pretext of “account verification”, then exploited built-in crypto-theft programs to transfer funds from victims’ wallets. Ukrainian security authorities stated the criminal ring is led by a 25-year-old IT professional, with a peak monthly operation scale of $1 million. Police conducted 34 searches in Kyiv and its surrounding areas, seizing over 100 computers, more than 100 mobile phones, 79 SIM cards, and a large number of related devices. The case remains under further investigation, as police pursue additional suspects, identify more victims, and trace the full scale of stolen funds.

5 minutes ago

OpenAI Accelerates Embodied Intelligence Push, Sam Altman Says It 'Will Definitely Develop Humanoid Robots'

Beating AI News Flash: OpenAI CEO Sam Altman stated that the company "will definitely develop humanoid robots, and will also explore other forms of robots." Altman believes that since most real-world facilities and tools are designed around humans, humanoid structures are better suited to operate in physical environments. OpenAI is currently restructuring its robotics team, recruiting talents in areas including robot control algorithms, actuator design, data collection, and Embodied AI. Earlier around 2021, OpenAI shut down its early robotics project due to insufficient real-world data to train robot systems. Now, with advancements in large models and robot data infrastructure, the company is re-investing heavily in this field. Altman has repeatedly expressed interest in Embodied AI and humanoid robots before, noting that it would be a limitation if AI had near-general intelligence but was unable to perform tasks in the real world.

5 minutes ago

Bloomberg: Low volatility in US equities may signal risks, while gold's advantage over US Treasuries is near a historic high.

Bloomberg commodities strategist Mike McGlone wrote in a note that U.S. stock market volatility relative to gold is at its lowest level since 2007, and as markets enter their traditional volatile season, this situation could impact the performance of gold, stocks, and bonds in the second half of this year. McGlone noted that the ratio of the SPDR Gold ETF (GLD) to the iShares 20+ Year U.S. Treasury Bond ETF (TLT), which he tracks, is near an all-time high, indicating gold is performing extremely strongly relative to long-term U.S. Treasuries. He said that historically, extremely low stock market volatility occurred ahead of the 2008 financial crisis, and whether the current market will repeat a similar scenario remains to be seen. After gold surged to around $5,600 per ounce in the first quarter of this year, it may face pullback pressure similar to that seen after crude oil prices peaked in 2008. McGlone pointed out that commodity markets have a reversal effect after "rising too fast". After crude oil hit its peak in 2008, it weakened continuously relative to its 60-month moving average, with successive lower highs and lower lows. At that time, crude oil's premium relative to its long-term moving average hit its highest level since the 1973-1974 oil crisis. In February this year, gold once reached a premium of about 2.2 times its 60-month moving average, a level last seen in 1980. However, the difference is that this round of gold's rise has set an unprecedented record amid a non-high-inflation environment, so its subsequent trend remains to be watched.

5 minutes ago

International oil prices continue to climb, with both WTI and Brent crude up over 1%.

According to Bitget market data, both US and Brent crude oil prices rose by over 1%. WTI crude oil is currently trading at $90.01 per barrel, while Brent crude oil stands at $95.26 per barrel.

5 minutes ago

Claude E-commerce Agent open-sourced: Partner merchants see a 35% increase in shopping cart volume and a 60% rise in customer purchase rate.

Beating AI News Flash: Anthropic has open-sourced Claude Commerce Agents, a set of reference code enabling merchants to build their own shopping and operations agents. The suite includes two agents: one for consumers to search for products, compare items, bundle multiple goods, and add to cart; the other for merchants to monitor sales, inventory, pricing, and marketing. The code is licensed under Apache 2.0. Notably, the shopping agent only passes the cart to the merchant’s own checkout page—no direct payment processing interface is included. For the merchant agent, any adjustments to pricing, restocking, or promotions must first generate pending changes that require manual approval before implementation. These restrictions are not limited to prompts: rules around payments, product sourcing, pricing adjustment ranges, and manual approvals are enforced at the code level. Anthropic does not recommend splitting capabilities like search, returns, and pricing into multiple sub-agents. Instead, it uses a single Claude model that retains full conversation context, loading different skills on an as-needed basis. The company states that in comparisons across multiple enterprise deployments, this approach delivers higher quality, typically uses fewer tokens, and has lower latency. According to Anthropic, one partner saw a ~30%–35% increase in shopping cart size and a ~60% rise in customer purchase completion rates after deployment.

5 minutes ago

TLDR An outdated Rain Solana contract allowed unauthorized withdrawals from card collateral accounts across multiple programs. Blockaid estimated about $1.1 million was stolen, with proceeds later entering Tornado Cash on Ethereum. Avici reported $500,859 drained from 1,685 users, while Tria identified $431,945 affecting 636 customers. Rain said every program using the vulnerable contract version has been upgraded since the attack. Self-custodial wallets were unaffected because the attacker targeted separate contracts holding funded card balances. An attacker exploited an outdated Rain card contract on Aug. 28, taking about $1.1 million from stablecoin card programs on Solana. Blockchain security firm Blockaid tracked the incident and published its findings.

Rain provides infrastructure that lets crypto companies issue cards funded with stablecoins. Customer deposits move into collateral accounts controlled by onchain contracts.

These collateral accounts are separate from a user’s personal wallet. Their safety depends on the code and controls set up by the infrastructure provider.

Blockaid found four contract deployments sharing the same code as the flawed version. The attacker drained funds from at least two of them.

Earlier today, Rain’s monitoring systems discovered a vulnerability impacting a small number of programs using an outdated version of our Solana contracts. Other programs were not impacted. Rain immediately launched an investigation to determine the full scope of the situation.…

— Rain (@raincards) August 28, 2026

How the Exploit Worked The outdated contract required two separate approvals before certain actions could happen. It used Solana’s Ed25519 verification system to check signatures.

Blockaid said the attacker reused one signature so it looked like two separate approvals. This let the attacker bypass the requirement without permission from account owners.

An attacker exploited an outdated Rain contract, draining $1.1M in user card balances from @avici, @useTria, and other crypto neobanks.

Blockaid's Onchain Monitoring gives stablecoin card issuers the capability to detect exploits across their fleet of contract deployments.

Read… pic.twitter.com/vzMQfPkdtT

— Blockaid (@blockaid_) September 2, 2026

After bypassing the check, the attacker gave itself admin access over individual accounts. It then withdrew USDC and USDT from those accounts.

Blockaid recorded 2,945 admin additions and 5,288 withdrawal calls. In total, it counted 8,233 exploit transactions over about two hours and 29 minutes.

The first two withdrawals happened three seconds apart. This pace suggests the attacker had built a system to target many accounts quickly.

Where the Funds Went The stolen stablecoins were sent to one Solana wallet. The attacker then swapped them for SOL using decentralized exchanges.

Blockaid traced the funds from Solana to Ethereum through the deBridge cross-chain protocol. About 455.9 ETH entered Tornado Cash between 19:20 and 19:49 UTC.

Tornado Cash mixes deposits so withdrawals can’t easily be linked to the original wallet. Blockaid said the funds had not been recovered as of its report.

Two Ethereum addresses were linked to the early funding of the attacker’s Solana activity. Neither Rain nor law enforcement has named who controls those addresses.

Avici said the attacker took $500,859.22 from 1,685 users. The company refunded all affected customers and added 10% cashback.

Tria reported losses of about $431,945 across 636 customers. It said each customer would be reimbursed.

Blockaid also named Solayer Pay as an affected program, though no confirmed loss figure was available for it. The gap between disclosed losses and Blockaid’s $1.1 million estimate has not been fully explained.

Avici’s token dropped 49% from its daily high after news of the exploit spread. It reached a low of $0.217 before recovering some value. Tria’s token also fell more than 10% at one point.

Rain said every program running the outdated contract has been upgraded. The company reported no further unauthorized activity since making the changes.

Rain has not released a full technical report or explained why older contract versions remained in use. It also has not said whether an audit caught the flaw before the attack happened.

Strong Margins and Broad Revenue MixThe Arbitrum DAO generated $6.19 million in income during the first half of 2026, according to an unaudited report published by the Arbitrum Foundation on September 2.

Network Activity Points to Returning Users

Open interest in derivative trading on Arbitrum surged 434% over the December 2025 to June 2026 period, peaking at $1.5 billion.

The early momentum from Robinhood Chain is also worth noting.

Sources:
Arbitrum Foundation H1 2026 Progress Update (PR Newswire)
Robinhood Chain fees hit record $3.75M as Arbitrum collects its 10% cut (Cryptopolitan)

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.

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Full Sail Becomes 2026's Latest Protocol to Close After a Hack

Sui (SUI), the native token of the Sui blockchain, traded around $0.7246 on Tuesday, reflecting a slight 0.33% gain for the session. With more than 4 billion SUI tokens circulating from its 10 billion maximum supply, the current market capitalization stands at $2.97 billion.

Rising trading volumes, focus on resistanceDaily derivatives trading volume in SUI reached $607.97 million, while spot market volume came in at $104.45 million. Open interest totaled $581.34 million, according to the latest figures. This data points to robust activity around current price levels, despite the token’s ongoing struggle to overcome resistance levels.

Market attention remains fixed on the $0.7641 region. Technical analysts suggest a four-hour candle close above this threshold on Binance could confirm a breakout through the descending trendline that has capped price advances for several weeks.

If SUI manages to push higher, the next resistance band sits at $0.9564, with the psychologically important $1.00 mark just beyond. On the downside, a close below the $0.6510 level could bring $0.5670 into play as a support target.

Sui is a Layer 1 blockchain designed for high throughput and low latency. It aims to support decentralized applications and scalable smart contracts.

Mini dictionary: Sui (SUI), a Layer 1 blockchain aiming to support fast transactions and scalable decentralized applications.

Price levelSignificance$0.7641Breakout resistance (4-hour close)$0.9564Next resistance$1.00Psychological barrier$0.6510Key support$0.5670Lower supportLiquidations highlight long-side riskLiquidation data from analytics provider CoinGlass reveals that recent market volatility has impacted bullish traders most heavily. In the past 24 hours, forced closures on long positions reached $525,940, while short liquidations totaled only $75,160. This suggests many bulls have been overleveraged in attempts to time a reversal.

Over the preceding 24 hours, long liquidations reached $525,940 versus merely $75,160 in short liquidations, reflecting a substantial imbalance that indicates leveraged bulls have already faced significant losses attempting premature bottom calls.

By contrast, the last four-hour period saw short liquidations slightly ahead at $11,050, compared to $3,780 in long liquidations. Analysts interpret this as early signs of stress for bears as resistance levels are tested.

On Binance, professional traders currently favor long positions, maintaining a 2.63 long-to-short ratio and a 72.5% long bias. Retail traders show similar sentiment, with 66.9% of positions aligned long. The current taker buy-to-sell ratio stands at 1.22, signaling that buying demand remains prevalent, even while the token struggles to break above the $0.74 mark.

Technical indicators and analyst insightsTechnical readings show the daily MACD histogram balancing near zero, reflecting a lack of clear momentum for either bulls or bears. The Stochastic indicator sits at 13.59, deep in the oversold range, which may signal potential for a price rebound. Bollinger Bands analysis finds SUI trading closer to the lower band—an area often watched for possible price reversals.

Prominent market analyst Ali Charts noted on X (formerly Twitter) that the TD Sequential indicator on the daily chart has flashed a buy signal. Ali Charts views this as a sign the recent SUI price correction may be ending, opening the door for a recovery over the next one to four daily candles or possibly the start of a new bullish countdown.

The TD Sequential is flashing a buy signal on the SUI daily chart, suggesting the recent correction could be nearing its end. This indicator points to a potential 1–4 daily candlestick rebound or the beginning of a new bullish countdown.

Despite technical signals pointing to a possible turn, spot volume on Binance remains modest at $41.3 million. Some market watchers believe this could limit the immediate upside unless fresh momentum emerges.

The 200-day moving average sits at $0.85 and is considered an important level to reclaim for a convincing shift to a bullish trend.

Kraken’s official announcement states that Kraken Derivatives will delist 77 perpetual contracts at 12:00 UTC on October 1, covering assets including 2Z, AEVO, AIXBT, AKT, ANKR, ARKM, AR, BLUR, CELO, ENJ, GMT, GMX, IOTA, MINA, NEO, THETA, VET, ZIL, ZRX, and others. Once trading on these contracts is halted, they will be settled and removed from the platform. Separately, Kraken will delist perpetual contracts for SUN, MTL, IOST, and XVS on September 3, and COTI perpetual contracts on September 7.

Relevant content

Arthur Hayes: GPIF May Re-Examine Internal and External Asset Allocation; 'Money Printing Feast' Ahead

Arthur Hayes stated in a post that Japan’s Government Pension Investment Fund (GPIF) is considering a re-examination of its overseas and domestic asset allocations, which he cited as one of the factors behind today’s roughly 2% drop in the euro against the yen. Hayes argues that shifts in GPIF’s asset allocation could trigger large-scale capital reallocation, dubbing this the start of a “money printing feast”. He also recommends reading his latest article “Atencion” for more related perspectives.

17 minutes ago

Analysis: Bitcoin may be shifting from a 4-year cycle to a 6 to 8-year cycle.

On-chain analyst Willy Woo has published a post noting that Bitcoin has long been shaped by its halving mechanism, creating a relatively regular 4-year cycle. But as the supply boost from halving continues to fade, this endogenous cyclical driver is growing less significant. Woo highlighted that BTC’s current annual new supply makes up roughly 0.8% of its total supply, a figure set to fall further to 0.4% going forward. Meanwhile, short-term debt cycles in traditional financial markets typically span 6 to 8 years, leading him to argue Bitcoin may be gradually transitioning from its prior 4-year cycle to a 6 to 8-year one. The present period could mark the transitional stage of this cyclical structural shift.

17 minutes ago

Australian Securities and Investments Commission (ASIC): Digital asset firms must apply for licenses by September 30, or face potential penalties.

According to an official announcement from Australia’s Securities and Investments Commission (ASIC), firms relying on ASIC’s "no-action position" for the digital asset sector must apply for or amend an Australian Financial Services (AFS) license by September 30, 2026. Failure to meet this deadline may lead to violations of financial services laws starting October 1. ASIC added that entities needing either an Australian market license or a clearing and settlement (CS) facility license must also notify the regulator of their application intent in writing by the same date, and complete pre-application meetings. Firms failing to satisfy these requirements may face civil and criminal penalties, with maximum fines equal to 10% of their annual turnover. Since updating its digital asset regulatory guidelines in October 2025, ASIC has received over 45 relevant license applications. The regulator stated that ending transitional regulatory exemptions for digital asset businesses is a key step toward bringing the sector under formal regulatory oversight. Additionally, Australia’s Digital Asset Framework Amendment (DAF Act) was passed by parliament in April 2026, received royal assent on April 8, and will officially take effect on April 9, 2027. Even after the new framework is implemented, some existing licenses will remain valid.

17 minutes ago

GPT-6 Astra Set for Launch: GPT-6 Spotted in OpenAI’s Official Repository

Insight Beating AI Flash News: GPT-6 has directly appeared in OpenAI’s official GitHub repository. An OpenAI developer submitted a Pull Request (PR) to the Computer Use example project, adding two environments: gpt6-js-image and gpt6-py-image, with the branch named codex/gpt6-computer-use-images. The two environments are tailored for JavaScript and Python respectively: the former is pre-installed with Playwright and Chromium, while the latter uses PyAutoGUI, Chromium, and a Linux desktop environment, enabling agents to view screens and operate browsers and desktops. The PR has not been merged yet, and it does not include GPT-6 API calls—it is only preparing the runtime environment for Computer Use. Sam Altman recently stated in an interview that past models’ computer operations have always been too slow or unreliable, but Astra made him feel for the first time that “it has reached a level comparable to humans”. He now directly lets the model retrieve messages across different applications instead of opening and searching for them one by one himself.

17 minutes ago

Microsoft Consolidates AI Agent Research: AI Frontiers Merged from Microsoft Research into MAI

Beating AI News Flash: Microsoft has transferred its AI Frontiers lab from Microsoft Research to Microsoft AI (MAI), led by Mustafa Suleyman. Established in October 2023, the lab focuses on small models and agents. It has contributed to projects including AutoGen, FARA, Magentic-One, Magentic-UI, and Phi. The multi-agent open-source framework AutoGen was later merged with AI application development SDK Semantic Kernel into Microsoft’s unified agent development framework, Microsoft Agent Framework. AI Frontiers will continue its work on cutting-edge agent and model research. MAI is also training a series of models and has formed a Superintelligence team, aiming to develop the so-called "Humanist Superintelligence" – defined by Microsoft as a high-capacity AI that addresses specific problems, remains under human control, and serves people. Ece Kamar, former head of AI Frontiers, recently left Microsoft after 16 years with the company. She has cited founding AI Frontiers as one of the highlights of her Microsoft career, and has not yet announced her next move.

17 minutes ago

BonkGuy noted that BNB Chain meme coin MarsCoin has surpassed $110 million in market capitalization, hitting a new all-time high.

Trader BonkGuy (Unipcs) stated in a post that MARSCOIN reminds him of SAFEMOON on BNB Chain in 2021, which once hit a market capitalization of around $17 billion. BonkGuy noted that MARSCOIN boasts a stronger narrative, integrating multiple hot concepts including Elon Musk, CZ, Mars, and SpaceX, making it one of the key assets in the BNB Chain meme coin segment. Fueled by growing market attention, GMGN data shows that the market cap of MarsCoin, a meme coin in the BNB Chain ecosystem, has surpassed $110 million, currently standing at $105 million, with a 24-hour gain of 41.7%.

17 minutes ago

ARK Invest digital asset researcher Lorenzo Valente compared Ethereum, Solana and Hyperliquid with three U.S. restaurant businesses on Sept. 3, arguing that their different operating structures require separate valuation frameworks.

Summary

ARK researcher Lorenzo Valente compared Ethereum, Solana and Hyperliquid through three contrasting restaurant business models. Ethereum uses layer two networks for scaling while collecting relatively limited settlement fees today overall. Solana processes applications within one integrated environment, keeping execution fees closer to validators and holders. Hyperliquid channels most eligible trading fees toward HYPE purchases through its Assistance Fund mechanism automatically. Valente said each architecture requires separate valuation methods because revenue paths and risks differ materially. In an essay, Valente likened Ethereum to McDonald’s, Solana to Chipotle and Hyperliquid to In-N-Out. The comparisons address how each blockchain expands, controls its infrastructure and directs revenue toward its native asset.

Valente argued that Ethereum operates like a franchise network because independent layer 2 teams build their own systems while relying on Ethereum for settlement. Solana resembles a company-owned chain because applications execute inside one integrated environment. Hyperliquid offers a more concentrated structure built around its trading venue, consensus system and fee-funded HYPE purchases.

The restaurant comparisons are Valente’s analytical framework. They are not ARK investment recommendations or objective classifications of the three networks.

Ethereum resembles a franchise that charges limited rent Ethereum’s scaling roadmap allows layer 2 networks such as Arbitrum, Base and OP Mainnet to process transactions away from its main execution layer. Those networks periodically submit data or proofs to Ethereum to inherit parts of its security and settlement infrastructure.

Valente compared this arrangement with McDonald’s franchising model. Ethereum provides the brand, standards, developer ecosystem and settlement layer. Independent teams finance and operate the layer 2 networks, just as franchise operators fund and manage individual restaurants.

“Blockchains Are Cities” from @hosseeb and @jmonegro “Fat Protocols” are two pieces I’ve returned to repeatedly over the yrs

But things changed in the last 10 years

This piece looks at the trade-offs between ETH, SOL, and HYPE and why all 3 can win imo https://t.co/vTDivLVenu

— Lorenzo Valente (@LorenzoARK) September 2, 2026 This structure helps Ethereum expand without financing every new execution network itself. Separate teams can develop specialized products, attract users and experiment with different technologies while continuing to settle on Ethereum.

However, Valente argued that Ethereum captures too little of the economic activity generated by those networks. Layer 2 operators collect transaction fees from users but pay Ethereum primarily for data availability and settlement.

EIP-4844 introduced separate blob space for rollup data in March 2024. Blobs reduced the cost of submitting layer 2 data to Ethereum, making transactions cheaper for users. They also lowered the fees that rollups paid to the main network when blob capacity exceeded demand.

Valente described this as Ethereum building a successful franchise network but failing to collect enough rent. In his view, Ethereum owns valuable settlement infrastructure but prices access too close to its operating cost.

The analogy has limits. Ethereum does not sign commercial franchise agreements with layer 2 operators. It also cannot impose royalties, control their products or prevent them from using alternative data availability services. Any proposal to raise the minimum blob fee would require technical review and acceptance through Ethereum’s decentralized governance process.

Ethereum developers have considered changes to blob pricing as demand and capacity evolve. A higher fee floor could increase payments to Ethereum, but it could also increase layer 2 transaction costs or encourage operators to use competing systems.

Solana keeps more activity inside one environment Valente compared Solana with Chipotle because both follow what he described as a vertically integrated model. Solana processes application activity directly through its base network instead of making external rollups the main route for scaling.

Trades on Jupiter, token launches, stablecoin transfers and other application transactions share the same execution environment. Users pay base and priority fees, while validators may receive additional value through transaction ordering and Jito tips.

This structure keeps more of the fee flow within the Solana network. Validators and their delegators receive compensation, while part of the base fee is burned. The relationship between network use and value capture is therefore more direct than it is when execution occurs on an independent layer 2.

Valente compared that arrangement with Chipotle owning and operating its restaurants. The company controls the customer experience and retains store revenue, but it must also finance expansion and absorb operational failures.

Solana faces a similar trade-off. Its unified architecture provides direct control over execution, fee markets and performance upgrades. It also means congestion or network disruption can affect applications across the ecosystem simultaneously.

The network has invested in additional validator clients, including Firedancer, to improve performance and reduce its dependence on one main software implementation. Solana’s Firedancer and Alpenglow upgrades could strengthen performance and validator diversity, although their full effects depend on deployment and operator adoption.

Valente argued that Solana’s integrated model produces better fee retention than Ethereum’s rollup structure. That assessment depends on which revenues and costs are included. Validator rewards involve token issuance, while application fees do not automatically accrue equally to every SOL holder.

Hyperliquid creates the shortest fee-capture chain Hyperliquid received the In-N-Out comparison because it combines a focused product range, internal infrastructure and limited reliance on outside capital. Its original product centered on perpetual futures trading through an onchain order book.

The platform built its own consensus system, HyperBFT, and operates its trading infrastructure through HyperCore. It later added HyperEVM for general smart contract applications, but derivatives remain a major source of activity and revenue.

Valente argued that Hyperliquid has the shortest value-capture path among the three networks. Trading fees flow into the protocol, and the Assistance Fund uses most eligible revenue to purchase HYPE from the market.

The model differs from a conventional corporate share repurchase. HYPE is a crypto token rather than equity, and holding it does not grant the same legal claims as owning company stock. Assistance Fund purchases can still create recurring market demand when trading activity generates sufficient fees.

Hyperliquid’s Assistance Fund directs most protocol trading fees into HYPE purchases. Crypto.news reported in May that the fund had used more than $1.3 billion for purchases since the mechanism began, based on available protocol and market data.

More recent research found that Hyperliquid and Pump.fun accounted for nearly 90% of tracked crypto token repurchases during 2026. Those figures measure purchases during the examined period and should not be interpreted as guaranteed future demand.

Hyperliquid has also expanded through HIP-3, which lets approved builders deploy perpetual markets while using its underlying infrastructure. Official documentation says spot and HIP-3 deployers may retain up to 50% of fees generated by their deployed assets.

Valente compared the arrangement with a tightly controlled restaurant operator allowing outside builders to introduce products without surrendering its infrastructure or customer relationship.

Different models produce different concentration risks Ethereum’s main advantage under Valente’s framework is distribution. Independent layer 2 teams provide external capital, engineering capacity and access to large companies. The cost is weaker control over users, execution revenue and the behavior of those networks.

Solana retains more activity inside one system. This can strengthen fee capture and product coordination, but the network must support a broader technical surface and absorb system-wide operational risks.

Hyperliquid offers the most direct relationship between product revenue and token purchases. It also carries the greatest concentration risk of the three models because activity, leadership and revenue remain closely connected to one trading ecosystem.

Valente warned that builders responsible for a large share of HIP-3 trading could eventually seek better fee terms. Revenue may also weaken during a prolonged decline in derivatives activity.

The comparison does not establish which token will outperform. Valuations also depend on issuance, liquidity, governance, competition, regulation and demand for the products running on each network.

No verified market move could be attributed directly to Valente’s essay. ETH, SOL and HYPE trade continuously and respond to broader crypto prices, leverage, protocol activity and macroeconomic conditions.

What happens next Ethereum’s value-capture debate will focus partly on blob demand and pricing. Developers can adjust capacity or fee parameters, but changes require testing and community support. Higher settlement revenue would need to be balanced against affordable layer 2 transactions.

Solana’s model will be tested by network upgrades, validator-client diversity and its ability to support higher activity without recurring congestion. The expansion of institutional products and consumer applications could also change its fee composition.

For Hyperliquid, HIP-3 adoption will show whether the network can expand beyond its internally developed markets while preserving its revenue share. Trading volumes and Assistance Fund purchases will remain important measures of the model’s durability.

Valente’s central argument is that investors should not value every layer 1 network using identical metrics. Ethereum emphasizes external ecosystem expansion, Solana emphasizes unified execution and Hyperliquid emphasizes direct product revenue. Each model can succeed, he said, but each carries a different path to failure.

FAQs Did ARK Invest officially classify Ethereum as McDonald’s? No. Lorenzo Valente presented the comparison in an analytical essay. The analogy represents his framework for examining blockchain economics.

Why did Valente compare Solana with Chipotle? He argued that Solana operates an integrated network where applications execute directly and fees remain within the underlying system.

Why was Hyperliquid compared with In-N-Out? The comparison reflects Hyperliquid’s focused product, internal infrastructure, limited outside funding and direct fee-to-token purchase mechanism.

Does Ethereum receive fees from layer 2 networks? Yes. Layer 2 networks pay Ethereum for data and settlement. Valente’s criticism concerns the amount Ethereum captures relative to layer 2 activity.

Nomura’s digital asset unit Laser Digital has partnered with Keyring Network to build institutional fixed income markets on decentralized finance infrastructure, with the first lending and borrowing products prepared for Euler Finance.

Summary

Laser Digital and Keyring have prepared institutional fixed income lending markets for deployment on Euler Finance. Laser Digital will act as risk governor, while Keyring will handle access verification, risk parameters and liquidation design. The framework combines permissioning, quantitative risk modeling, cyber insurance and onchain settlement tools. No launch date, committed capital, fee structure or participating borrowers and lenders have been disclosed. According to a Sept. 2 announcement from Laser Digital and Keyring, the partnership will combine institutional risk controls with permissioned DeFi infrastructure for qualifying participants. Keyring will provide the technology for individual lending markets, while Laser Digital’s asset management division will contribute governance standards, portfolio structuring and market practice.

The companies have not disclosed how much capital will be committed to the markets, the fees attached to them or a launch date. Borrowers and lenders participating in the first products have not been named either.

Laser Digital will set institutional risk standards Laser Digital’s role will center on the risk framework governing the planned markets. Keyring will handle access verification, quantitative risk parameters and the design of liquidation systems, while responsibilities between the firms will be determined separately for each contract based on the asset, strategy and risk profile.

The structure extends Laser Digital’s work with institutional onchain products. In August, the Nomura subsidiary partnered with ZIGChain on a pipeline of products tied to emerging market private credit, PayFi, invoice financing, small business funding and stablecoin services.

Under that arrangement, Laser Digital agreed to support product structuring, governance and risk framework design for ZIG Markets vaults. ZIGChain said it was targeting at least $100 million in total value locked across the planned products, although the size of Laser Digital’s investment and a timetable for reaching the target were not disclosed.

The Keyring partnership focuses first on fixed income lending and borrowing. Laser Digital and Keyring identified permissioning, exploit risk, governance and settlement as four constraints that have limited institutional participation in open DeFi lending markets.

Unrestricted access can create compliance issues for institutions, while smart contract and protocol exploits introduce risks that can be difficult to quantify, the companies said. They identified limited institutional oversight and differences between traditional clearing processes and DeFi’s instant settlement model as further obstacles.

Their framework combines zero knowledge permissioning, quantitative risk modeling, institutional governance standards, cyber insurance and other risk controls. Keyring’s [un]wind technology will provide the settlement component.

“Institutional interest in on-chain fixed income stems from real opportunity, but constraints remain,” Laser Digital co-founder and CEO Jez Mohideen said.

Mohideen said the companies are working on assets that behave more like conventional fixed income instruments than speculative crypto tokens while retaining onchain settlement.

Euler Finance will host the first markets The first lending markets are ready to go live on Euler Finance, according to the companies, although no deployment date was provided. Other partners, products and strategies are expected to follow in phases.

Euler already supports lending markets built around institutional and tokenized assets. In May, VanEck’s VBILL went live on Euler, allowing investors to use the asset manager’s tokenized U.S. Treasury fund as collateral for onchain borrowing.

The integration followed Euler’s addition of Securitize’s DS Protocol, which allows tokenized securities to interact with lending markets while maintaining investor eligibility and transfer restrictions. RedStone supplies pricing data for VBILL on Euler.

A similar institutional asset reached the protocol in May 2025 when sBUIDL, a token backed 1:1 by BlackRock’s BUIDL fund and issued by Securitize, entered Euler lending markets. The Avalanche deployment was curated by Re7 Labs and allowed sBUIDL holders to use the asset as collateral for USDC and AUSD borrowing.

Euler’s modular structure allows market creators to configure collateral requirements, liquidation parameters and access permissions for individual lending markets. Institutional managers including K3 Capital, MEV Capital and Re7 Capital have previously managed vaults on the protocol.

DefiLlama data currently puts Euler V2’s total value locked at approximately $377.5 million. Monad accounts for nearly $248.9 million, followed by Ethereum at $92.7 million and Base at $21.4 million. The protocol generated roughly $1.63 million in fees over the past 30 days and close to $51,840 in protocol revenue over the same period.

Euler’s current structure followed its recovery from a major security incident in March 2023, when an exploit drained approximately $197 million from the protocol. Most of the stolen assets were subsequently returned, and Euler later rebuilt its lending architecture around its V2 system.

Nomura has expanded Laser Digital’s institutional operations Laser Digital was established by Nomura in 2022 as the Japanese financial group built a dedicated digital asset business spanning trading, asset management, investment and blockchain-based financial products.

Its institutional operations have expanded across several markets since then. Crypto.news previously reported that Laser Digital secured registration in Japan in August as a crypto asset exchange service provider, becoming the country’s first newly registered entrant in roughly four years.

The Japanese subsidiary plans to begin by supplying liquidity to domestic virtual asset service providers before considering digital asset trading services for institutional investors. Laser Digital has not provided a launch date for the institutional trading business.

Nomura and Laser Digital found in a 2026 survey that 79% of respondents planned to invest in crypto assets within three years. Outside Japan, Laser Digital already operates asset management products and holds a full crypto business license in Dubai.

Keyring brings a different part of the infrastructure to the new fixed income project. The network operates a permissioned access layer designed to verify users before they interact with DeFi applications while using zero knowledge technology to limit the amount of identifying information exposed onchain.

Alex McFarlane, founder and CEO of Keyring Network, described rates and credit as interconnected parts of the fixed income market and said tokenized assets had expanded rapidly without reaching much of the available market.

“Despite multi-year exponential growth in tokenised assets, we haven’t yet scratched the surface,” McFarlane said.

The companies said individual responsibilities under the partnership will be established contract by contract, while the first Euler markets will be followed by other products, partners and strategies in phased deployments.

BonkGuy noted that BNB Chain meme coin MarsCoin has surpassed $110 million in market capitalization, hitting a new all-time high.

Trader BonkGuy (Unipcs) stated in a post that MARSCOIN reminds him of SAFEMOON on BNB Chain in 2021, which once hit a market capitalization of around $17 billion. BonkGuy noted that MARSCOIN boasts a stronger narrative, integrating multiple hot concepts including Elon Musk, CZ, Mars, and SpaceX, making it one of the key assets in the BNB Chain meme coin segment. Fueled by growing market attention, GMGN data shows that the market cap of MarsCoin, a meme coin in the BNB Chain ecosystem, has surpassed $110 million, currently standing at $105 million, with a 24-hour gain of 41.7%.

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Market News: The Bank of Japan is reportedly leaning towards a 25 basis point interest rate hike.

According to people familiar with the matter, the Bank of Japan (BOJ) is inclined to raise its benchmark interest rate by 25 basis points this month to address upside inflation risks, while adjusting the pace of future interest rate hikes flexibly based on economic and price conditions. The sources added that BOJ officials will discuss the possibility of raising the policy rate, and continue to hold the view that inflation risks are skewed to the upside. Rising service prices and the persistent weakness of the yen have further strengthened the case for action. Japan’s current economic development is generally in line with the BOJ’s earlier expectations. As no major changes have emerged in the economic situation that would require significant policy adjustments, a 50 basis point rate hike is unlikely. A source familiar with the matter noted that this has reduced market expectations for a "large rate hike". (Jinshi)

10 minutes ago

AI inference startup Wafer secures $40 million in Series A funding, with a team of just 8 employees, while hitting $8 million in annual recurring revenue (ARR).

Beating AI News Flash: Wafer, an AI inference startup with an 8-person team, has raised $40 million in Series A funding, valuing the company at over $200 million. The startup previously turned down acquisition offers from multiple cloud providers and inference service firms. Wafer’s inference business reached $8 million in annual recurring revenue (ARR) in just about three months. Unlike chipmakers, Wafer focuses on helping models run faster and cheaper on existing hardware. It uses AI agents to automatically adjust models, inference engines, kernels, caches, quantization, and scheduling, then optimizes for different hardware like NVIDIA and AMD. Historically, much of this work required manual tuning by inference performance engineers, a task Wafer aims to automate with AI. In internal tests, Wafer found GLM 5.2 running on AMD MI355X delivers ~80% of the throughput of NVIDIA B200 at less than half the cost. Current clients include Vercel and Inworld AI. Vercel has also independently published tests showing Wafer’s throughput for GLM 5.2 is roughly twice that of other serverless providers. Post-funding, Wafer is expanding its team immediately. It has recently opened four roles: engineering, growth, CEO office, and go-to-market (GTM), all requiring 5 days of in-office work weekly in San Francisco. Technical positions offer a $250,000 base salary plus equity.

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Analysis: Bitcoin Poised for a Golden Cross, Decline in USDT's Dominance Signals Rising Risk Appetite

Bitcoin is currently approaching the formation of a "golden cross" technical pattern, where the 50-day moving average crosses above the 200-day moving average. This indicator is widely regarded by the market as a signal of a long-term uptrend. While its historical performance does not accurately predict market movements every time, this golden cross may receive further support from USDT’s declining market dominance. Bitcoin has seen a total of 12 golden crosses in its history, with several periods delivering significant rallies. Statistics show that among the 9 measurable golden crosses, the average 3-month gain is roughly 24.9%; cases where the cross holds for a full year without being invalidated by a "death cross" are rare, but the average 1-year gain of the previous 3 such instances reached 250%. Meanwhile, USDT’s market dominance is approaching a "death cross"—its 50-day moving average has fallen below the 200-day moving average. The market typically views a decline in USDT’s market share as a sign of rising risk appetite, meaning funds may flow from stablecoins to Bitcoin and other crypto assets. Currently, Bitcoin’s golden cross and the signal of falling USDT dominance are emerging simultaneously, indicating recent market momentum is strengthening and risk asset allocation sentiment may be improving.

10 minutes ago

Term Labs: All affected fixed-rate loan positions in vaults have been fully restored, and the incident did not impact Term V1/V2 contracts.

According to an official announcement from Term Labs, progress has been made in resolving the Term Vault incident. All fixed-rate loan positions in affected vaults have been fully restored, with the final recovery operation completed at 14:52 UTC on August 25. Term Labs said the incident is currently deemed to have only impacted liquid assets held in Term Vaults. Meta Vaults and related strategies remain offline. The team has not detected any attacks on Term V1 and V2 contracts during the incident, and the direct lending market was unharmed—supply, repayment, and liquidation functions are all operating normally. Per technical analysis, the attacker funded their operational wallet via Tornado Cash, exploited a governance proposal to reset the governance delay of multiple strategies to zero, bypassing the LP additional block window. The attacker then deployed fake controllers, price adapters, and fraudulent Repo tokens, manipulating strategy parameters and price mechanisms to siphon liquid assets from certain ETH and USDC strategies. Term Labs noted it is currently collaborating with law enforcement agencies and cybersecurity firms to investigate the attacker’s identity, and has provided information to relevant authorities to assist the probe. Affected Meta Vaults and strategies have been shut down, while remaining low-activity vaults are being processed. Fixed-rate loans on Term were not targeted by the attack, but to mitigate risks as they may redeem to affected vaults upon maturity, related contracts have been upgraded and migrated in advance.

10 minutes ago

Analysis: Stablecoin trading platforms’ net inflow ends their 113-day outflow streak, with liquidity signals shifting to neutral.

CryptoQuant analyst Axel Adler Jr. wrote in a post that the 30-day net flow of stablecoin trading platforms turned positive on September 1, the first time after 113 consecutive days of net outflows, signaling a change in the previously sustained stablecoin liquidity environment. The 30-day average net flow of ERC20 stablecoin trading platforms had stayed below zero from May 11 to August 31, amounting to 113 days of net outflows. On September 1, the metric hit $13.85 million, then dropped to $11.66 million on September 2 and $6.85 million on September 3, with the two-day net inflow falling by around 51%. At present, this should be seen more as a shift from sustained net outflows to a balanced liquidity environment, rather than confirmation of large-scale capital inflows. Meanwhile, Bitcoin’s Stablecoin Supply Ratio (SSR) is declining from its August peak. The SSR stood at 13.84 on September 1, and its 90-day, 200-day, and 365-day oscillators all remain positive, indicating that stablecoins’ relative purchasing power is improving but has not yet entered a clear expansion phase. Current market signals stay neutral. If stablecoin trading platform net inflows continue to expand and the SSR keeps falling, it could further confirm a liquidity reversal in the crypto market; if net flows fall back below zero, this improvement may only be a temporary shift.

10 minutes ago

A Chinese media company just became one of Asia’s hottest stocks this week, and all it took was teaching artificial intelligence to rewrite a 16th-century novel.

Mango Excellent Media (300413.SZ), the state-controlled long-video platform behind one of China’s most-watched satellite channels, surged after premiering Journey to the West: The Later Tale on August 31. The series holds a distinction no other show can claim: it’s China’s first fully AI-generated long-form drama to air during prime time on a mainstream satellite channel.

Two days, two limit-ups The stock hit its 20% daily limit-up on August 31, closing at 16.98 yuan. It did it again the next day, climbing to approximately 20.38 yuan on September 1. That’s two consecutive days slamming into the ceiling that China’s stock exchanges impose on daily price moves.

The cumulative gain over those 48 hours came in around 44%, adding more than 10 billion yuan to the company’s market capitalization. By the time the dust settled, Mango’s valuation had ballooned to somewhere in the range of 31.8 to 38 billion yuan.

The rally didn’t stay contained to Mango’s ticker, either. Other A-share companies linked to AI and media saw sympathetic buying as traders piled into anything adjacent to the theme.

The show behind the surge Journey to the West: The Later Tale is built on one of the most recognizable stories in Chinese literature, the classic tale of the Monkey King. The entire series was generated using AI tools, produced under the regulatory framework of the National Radio and Television Administration (NRTA), the body that oversees broadcast content in China.

Mango has been developing AI content capabilities since at least 2018, building out what it calls its Shanhai AIGC platform among other tools. Years of investment in generative content infrastructure led to this moment, a fully AI-produced drama clearing regulatory hurdles and landing a prime-time slot on satellite television.

The profit problem There’s a catch, though. And it’s a significant one.

Mango’s first-half 2026 financial results tell a very different story than the stock chart. Operating revenue came in at 6.194 billion yuan, up 3.86% year-over-year. Net profit, however, collapsed. The company reported just 202 million yuan in profit for H1 2026, a 73.58% decline compared to the same period a year earlier.

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

Wise Group plc (WSE) Stock: October Trading Update Puts Growth Back in Focus

Hyperliquid Bridge has surpassed EigenCloud in total value locked (TVL), marking a notable shift among major DeFi infrastructure protocols. According to DefiLlama data, Hyperliquid Bridge now holds $6.53 billion in TVL, while EigenCloud stands at $6.37 billion. This move places Hyperliquid Bridge in the 9th position among 146 DeFi protocols with at least $200 million in TVL.

Hyperliquid Bridge growth and HYPE ecosystemWithin the DeFi ecosystem, Hyperswitch, operated by Hyperliquid (HYPE), has emerged as the largest DeFi bridge by TVL. The platform enables users to transfer tokens from Ethereum’s mainnet to other blockchains seamlessly in a single transaction. Once transferred, users can utilize wrapped tokens to engage with HYPE’s perpetuals market.

The increase in TVL highlights substantial user confidence and liquidity in the Hyperliquid protocol. For Hyperliquid’s market makers, the $6.53 billion milestone sends a strong signal regarding user trust and efficient custody solutions compared to relying mainly on points farming strategies.

Mini dictionary: DefiLlama is an analytics platform that tracks decentralized finance (DeFi) protocols by aggregating data on key metrics such as total value locked (TVL), allowing users to compare blockchain projects and network activity.

For Hyperliquid and its market makers, reaching $6.53 billion in TVL demonstrates strong user trust and liquidity, positioning it as a highly preferred solution for token storage and interaction over other passive points accumulation methods.

Implications for investors and developersFor investors and cryptocurrency exchanges, several fundamental factors contribute to HYPE’s current momentum. These include the token’s economic model, liquidity characteristics, and support for native pairs such as HYPE-USDC. Developers view TVL as an indicator of real capital allocation and engagement across chains, offering deeper insights into asset flow within blockchain networks.

The trend of rising TVL in bridge protocols spotlights their evolving role within decentralized finance, especially as new infrastructure solutions increasingly prioritize vertical integration and application-specific chains. Native bridging methods, such as those found in Hyperliquid, are gaining traction over external third-party services like Wormhole and LayerZero.

ProtocolTVL ($ Billion)RankingHyperliquid Bridge6.539EigenCloud6.3710The top 10 DeFi protocols now account for over 60% of total aggregated DeFi TVL, revealing concentrated activity at the highest tier and reflecting the sector’s ongoing transition toward vertically integrated exchanges and in-house bridging solutions.

Outlook for Hyperliquid and DeFi bridgesLooking ahead, Hyperliquid’s long-term prospects will hinge on the ability to sustain and grow trading volumes across both perpetual and spot markets, as well as to strengthen stablecoin infrastructure. Maintaining bridge security remains a key concern following historical incidents involving bridge vulnerabilities that led to significant collateral damage within the sector.

The continued expansion of Hyperliquid’s DeFi infrastructure underscores a broader market movement, with application-specific layer-1 solutions and vertically integrated platforms shaping the next phase of growth and competitiveness across decentralized finance.

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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The Commodity Futures Trading Commission is seeking to dismiss CME’s lawsuit challenging the agency’s approval of Kalshi’s Bitcoin perpetual futures in May.

According to a Sept. 2 filing shared by Jake Chervinsky, CEO of Hyperliquid Policy Center, the CFTC called the suit “much ado about nothing,” arguing that CME lacks standing and has not presented a viable legal claim.

The agency said CME has not identified any restriction preventing it from offering the same type of perpetual futures, making the lawsuit an attempt to challenge the CFTC’s regulatory classification rather than an actual competitive injury.

The CFTC also defended its decision to classify the products as futures rather than swaps, arguing that “perpetual futures are futures.”

The agency said CME’s core objection is not that the agency lacks authority to approve the contracts, but that it disagrees with how the products were legally classified. It added that CME has failed to show any concrete harm from Kalshi’s contracts.

CME Group has sued the CFTC over the regulator’s decision to let Kalshi offer Bitcoin perpetual futures, setting up a major clash over whether prediction markets can expand into products traditionally offered by derivatives exchanges.

Perps contracts let traders maintain leveraged positions on crypto prices indefinitely because they have no expiration date. The CME argues that the CFTC’s approval violated the Commodity Exchange Act and Dodd-Frank by allowing Kalshi to offer a product that does not meet the traditional characteristics of a futures contract.

CME said the agency’s decision was issued without public comment or reasoned decision-making and has caused “textbook competitive injury” by allowing Kalshi to compete directly for customers in the crypto derivatives market. Kalshi has since brought numerous crypto perpetuals to market.

The CFTC has rejected the challenge, calling it “frivolous” and accusing CME of fighting the administration’s pro-innovation agenda, while Kalshi said CME is simply afraid of competition.

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

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.

This site is protected by reCAPTCHA.

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.

This site is protected by reCAPTCHA.

Former UK Prime Minister Truss: Bond crash may force government into emergency spending cuts

Former UK Prime Minister Liz Truss said the surge in global government bond yields stems from "high debt and currency debasement" across countries, and the UK is one of the major economies with the most prominent risks. She said the Bank of England "printed money and diluted the currency" through quantitative easing, causing UK borrowing costs to rank among the fastest-rising among major developed economies, with the 10-year government bond yield rising to about 5.2% and the 30-year approaching 6%. Truss said that unless supply-side reforms accelerate economic growth and control spending, the UK may be forced to implement "mandatory emergency spending cuts." Meanwhile, the US 10-year Treasury yield has risen back above 4.8%, and gold and Bitcoin have pulled back from highs after earlier sharp gains.

JPMorgan Global Investment Strategy Head: US Treasury yields approaching 5% could trigger a 5% to 8% pullback in global equities

Grace Peters, Global Investment Strategy Head at JPMorgan Chase Private Bank, said that if the 10-year US Treasury yield rises to around 5%, it could trigger a 5% to 8% pullback in global equities, but it would be more like a "healthy correction" than a structural peak. The 10-year US Treasury yield has already risen to about 4.8%, and the 30-year yield hit a 19-year high, with the market betting that policymakers may be forced to raise rates again. Peters noted that US and European second-quarter corporate earnings grew about 30% and 15% respectively, which is hard to sustain, but earnings expansion covers sectors such as financials, industrials, and utilities, which is healthier than being driven solely by tech stocks. She maintained her core view that a "capex supercycle will drive an earnings supercycle" and is bullish on US and emerging market equities.

Tron's on-chain USDT supply increased by $4 billion over the past month to $94.27 billion, surpassing the Ethereum chain

Data shows that over the past month, USDT supply on Tron increased by $4 billion to $94.27 billion, with the total now surpassing USDT supply on Ethereum.

Bhutan government address just transferred out 400 Bitcoin, approximately $30.62 million

On-chain data shows that the Kingdom of Bhutan government address transferred out 400 BTC 15 minutes ago, worth approximately $30.62 million at current prices.

US Treasury Secretary Bessent: (On Iran and sanctions issues) Digital asset-related parties may become sanctions targets

US Treasury Secretary Bessent said the US is communicating with any parties supporting Iran and warned that airlines, shipping companies, and digital asset-related parties may become targets of a new round of sanctions. He said the US will systematically "remove bad actors" regarding Iran and advised all parties to stay away from related transactions and cooperation on Iran and Russia issues, stressing that support should not be provided to those regimes.

"Mini non-farm payrolls" came in below expectations

US August ADP employment increased by 38,000, the smallest gain since January and below market expectations of 48,000.

Nvidia CEO Jensen Huang: Calls on G20 members to allow expansion of AI infrastructure

Nvidia CEO Jensen Huang and US Commerce Secretary Lutnick attended a G20 technology event held in North Carolina. Nvidia CEO Jensen Huang called on Group of Twenty (G20) members to accelerate the adoption of artificial intelligence to drive economic growth and urged the world's major economies to expand data centers and other infrastructure to support this emerging technology. Huang said: "Every country needs to build infrastructure so that it can support its own economy." He compared the technology to water, electricity, and other utilities. "This is the great equalizer," he said. In his remarks, Huang said the "worst outcome" for a country would be to "fall behind." He warned that this could happen if the public and policymakers let concerns about AI dominate discussions about the technology.

A whale long approximately 45,000 ETH sold 1,500 ETH to add margin and reduce liquidation risk

A whale on Hyperliquid who is long approximately 45,000 ETH has sold 1,500 ETH due to liquidation risk, cashing out about $3.75 million and realizing a profit of $618,000, with the USDC proceeds added to the platform as margin. Currently, the floating loss on the approximately $107 million long position has widened to about $4.8 million, and the latest liquidation price is $2,173.36, leaving only about $207 of room from the current price.

US Mint to begin selling 2026 Trump portrait $1 coins

The US Mint will begin selling rolls and bagged products of the Trump portrait $1 coin commemorating the 250th anniversary of the founding of the United States at 12:00 pm Eastern Time on September 2 (12:00 am Beijing time on September 3). A roll of 25 coins is priced at $61, and a bag of 100 coins is priced at $154.50. Additionally, 250,000 coins minted on July 4 with a special "July 4th" mark will be randomly mixed into the products. The coin is made of copper alloy, with a face value still of $1, and can be used as legal tender.

Bubblemaps: CHUMP token suspected of being highly controlled by a single entity, about 80% of tokens concentrated in clustered addresses

About 80% of the Solana ecosystem Trump parody meme coin CHUMP is concentrated in clustered addresses, and the project is promoted by multiple crypto Twitter KOLs. On-chain data shows that before the token surged, more than 75 new wallets were injected with similar amounts of SOL within a short period and then bought about 80% of CHUMP. These wallets had no prior on-chain activity, and funds were transferred through multiple layers of new addresses, Uniswap transactions, and Relay. Bubblemaps said it is still unclear who actually controls the token, but the funding sources and transaction patterns are highly similar, suggesting control by a single entity, and advises investors to participate with caution.

Physical AI company Lyte completes $165 million Series C round led by Maverick Silicon

PANews, September 2 - According to Bloomberg, physical AI company Lyte announced the completion of a $165 million Series C funding round led by Maverick Silicon, with participation from Fidelity Management & Research, Atreides Management, Key1 Capital, and Ora Global, at a post-money valuation of $1.6 billion. Founded in 2021 by former Apple and PrimeSense engineers, Lyte focuses on providing robots with a complete perception technology stack from custom chips and multimodal sensors to spatial software. To date, the company's cumulative funding has reached $272 million. This round of funding will be used to expand production scale of its perception chips and its LyteVision platform, and to advance AI perception capabilities and commercial deployment of robotics.

Coinbase launches regulated crypto and commodity derivatives contracts in Canada

Coinbase, through its CFTC-regulated futures commission merchant Coinbase Financial Markets, has launched 23 crypto asset perpetual and dated contracts (covering Bitcoin, ETH, SOL, etc.), 5 commodity futures (including gold, silver, and crude oil), and the COIN50 index futures for eligible investors in Canada. The new products support nano contracts and up to 10x leverage, helping institutional and sophisticated investors conduct hedging and directional trading with lower capital requirements. Coinbase is also offering a limited-time promotional fee rate of "0.02% per transaction plus $0.11 per contract."

Kimi parent company Moonshot AI launches Hong Kong IPO, plans to raise funds at a $50 billion valuation

Kimi's parent company Moonshot AI has confidentially submitted an A1 application to the Hong Kong Stock Exchange, officially initiating the Hong Kong IPO process. At the same time, the company is advancing a new funding round at a pre-money valuation of approximately $50 billion, which is expected to be the final round before the IPO. Citing public and market information, the report said Kimi has accelerated its model iteration this year, successively releasing K2.5, K2.6, and K3, with updates at a pace of roughly one version every three months. On the revenue side, Kimi's ARR surpassed $100 million in early March this year and grew to around $300 million by mid-June; after the release of K3, enterprise-side ARR increased severalfold. Along with rising call volume and computing power demand, Moonshot AI has raised its valuation from about $4.3 billion at the end of 2025 to the current approximately $50 billion through multiple funding rounds.

Spot gold rises 1% intraday, spot silver's intraday gain expands to 2%

Data shows spot gold rose 1% intraday and is now at $4,372.30 per ounce. Spot silver's intraday gain expanded to 2% and is now at $65.35 per ounce.

Market news: Prediction market platform Kalshi prepares to apply for U.S. crude oil perpetual contracts

Market news: Prediction market platform Kalshi is preparing to apply for U.S. crude oil perpetual contracts.

Nvidia and Meta rise more than 2%, SPCX falls more than 2%

According to Binance market data, Nvidia's stock price rose 2.29% intraday to $222.41, and Meta rose 3.5% intraday to $598.79. In addition, SPACE X (SPCX) fell 2.04% intraday to $139.32.

Robinhood Meme coin FAMI's market cap briefly exceeds $30 million, up over 400% intraday

PANews, September 2 - According to GMGN data, the Robinhood Chain ecosystem Meme coin FAMI briefly exceeded $30 million in market cap, touching a high of $30.99 million, and is now at about $29.1 million, up over 452.5% intraday. Nasdaq-listed company Farmmi (FAMI) saw its stock price surge today, and market attention may be related to trader Rune's latest disclosed plan for "Nasdaq low-market-cap stock tokenization + Meme coin." Rune said he has spent about $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company and plans to tokenize the related equity on Robinhood Chain, while also launching a Meme coin paired with the tokenized stock. He subsequently stated that the relevant content was generated by Claude based on his requirements. It is currently impossible to confirm whether Farmmi is directly related to the plan described by Rune, and the related narrative has not been officially confirmed. Meme coin prices are highly volatile, so please be aware of trading risks.

Farmmi (FAMI) hits intraday high of $0.5, with gains once exceeding 300%

According to Binance market data, Nasdaq-listed company Farmmi (FAMI) surged on heavy volume, with the latest stock price at $0.469, up more than 294%; it hit an intraday high of $0.5, with gains once exceeding 300%.

Bloomberg ETF analyst: Bitcoin's correlation with U.S. stocks over the past six months is lower than that of gold and U.S. Treasuries

Bloomberg ETF analyst Eric Balchunas posted that over the past six months, Bitcoin's correlation with U.S. stocks has been lower than that of gold, small-cap stocks, emerging market assets, and U.S. Treasuries. He said Bitcoin's historical correlation with U.S. stocks has remained roughly around 0.4, while the linkage between gold and U.S. Treasuries with U.S. stocks has risen significantly in the recent period. Balchunas said that although this time window is short, it is enough to refute the claim that "Bitcoin is just another QQQ."

Trump proposes renaming the Strait of Hormuz to "Trump Strait"

Trump posted on the social platform Truth Social that after the United States "controls the Strait of Hormuz," consideration should be given to renaming it "TRUMP STRAIT," saying that this would make the region "hotter than ever before," just like America.

Google launches Gemini 3.8 Flash reasoning model, available to Pro and Ultra users starting today

Google Gemini announced that its latest Gemini 3.8 Flash model is available to Pro and Ultra users starting today. The company said the model will provide more reliable and comprehensive answers in tasks such as everyday topic action recommendations, text analysis, and complex coding, enhancing practicality and execution efficiency in high-frequency usage scenarios.

Meme coin speculation spreads to Nasdaq, agricultural products supplier Farmmi's stock price surges 350%

Nasdaq-listed Chinese agricultural products supplier Farmmi saw its stock price surge as much as 350% on Wednesday, briefly touching $0.50 from $0.12 before pulling back to about $0.18, with trading volume exceeding 720 million shares (nearly 90 times the average daily volume). The surge was related to trading activity in the Meme coin JINQIAN on Robinhood Chain, which is paired with Farmmi's stock token FAMI, drawing speculators' attention and prompting them to buy Farmmi's actual shares. The Meme coin's peak implied valuation was about $60 million, 10 times the listed company's actual market cap. However, the FAMI token is not an official stock token issued by Robinhood, has no issuance or redemption mechanism, and buying the token is not equivalent to buying Farmmi stock.

CZ: Some "hot money" is flowing back from AI to crypto

Binance founder Changpeng Zhao posted on X that some "hot money" is flowing back from AI to crypto. He emphasized that the monetary economy will not disappear, and both humans and AI still need funds.

Fed Beige Book: Economy growing moderately, data center and AI investment serve as important support

The Fed's Beige Book shows that U.S. economic activity has grown moderately since early July. Of the 12 Fed districts, 10 recorded slight to moderate growth, and 2 saw no change. Consumer spending increased slightly, but consumers became more price-sensitive, while high-end consumption remained strong; auto sales were sluggish due to weak confidence, high oil prices, and rising financing costs. Manufacturing activity picked up in most regions, with some areas reporting strong demand for defense and data center-related orders. Job market growth slowed, with only a slight overall increase; labor demand was relatively good in manufacturing, construction, and other sectors, but declined in retail and hospitality. On prices, most regions reported moderate price increases, and cost pressures from energy, transportation, raw materials, and tariffs persisted. Businesses generally expect a positive economic outlook, but remain attentive to uncertainty from energy prices, policy, and international conflicts. The report's mentions of artificial intelligence and data centers also reflect the prominent role these two types of investment play in current economic activity. The full text mentions artificial intelligence 19 times and data centers 25 times.

Meta releases Muse Spark 1.3 model, advancing personal AI agent development

Meta released the Muse Spark 1.3 model update on Wednesday, saying that this version delivers significantly improved performance in coding and intelligent agent tasks. Meta AI head Alexandr Wang said the new model is "competitive with frontier models" and will pave the way for future personal AI agent products, helping users achieve AI assistants that can work on their behalf around the clock. Muse Spark 1.3 is priced the same as the previous version, and Wang called this pricing strategy "aggressive." Meta also said its "contributor tier" option has been well received by developers. The program substantially reduces coding product costs by allowing Meta to use developers' work to improve its models, and a "meaningful double-digit percentage" of developers have already chosen this option. Wang said that as model capabilities improve, safety issues have become an important topic within Meta, and the company is increasing investment in safety and alignment. Muse Spark 1.3 will go live on Muse Code and the Meta API the same day, and the highest-reasoning version will be released after additional safety testing is completed.

Broadcom Q3 FY2026 revenue was $29.591 billion, up 86% year-over-year

Broadcom's Q3 FY2026 revenue was $29.591 billion, up 86% year-over-year, compared with $15.952 billion in the same period last year and market expectations of $29.362 billion; adjusted EPS was $3.32, up 96% year-over-year, versus analyst expectations of $3.23. Q4 revenue guidance was $34.8 billion, compared with market estimates of $35.05 billion. On the earnings call, Broadcom's CEO said the company raised its FY2026 AI business revenue guidance from $56 billion to $58 billion, up 186% year-over-year; by 2027 the company has secured supply to double AI revenue to about $115 billion; and it expects AI semiconductor revenue to double again in FY2028 to $230 billion. Broadcom's CEO said that this quarter the company began volume production and delivery of the next-generation TPU 8I version product to Google; the new Google TPU performance is on par with or better than Nvidia's Vera Rubin. After the earnings release, Broadcom fell more than 6% in after-hours trading at one point, then turned positive during the earnings call.

Kraken parent Payward postpones IPO to as early as Q2 2027

People familiar with the matter revealed that Payward, the parent company of U.S. crypto exchange Kraken, has postponed its IPO plans to as early as the second quarter of 2027. Payward completed an $800 million financing at a $20 billion valuation in November 2025 and then confidentially submitted its S-1 registration statement, but subsequently shelved the IPO plan due to unfavorable market conditions. Amid the IPO delay, Payward has continued to expand its business through acquisitions - it completed the acquisition of derivatives platform Bitnomial in May and stablecoin payment platform Reap in July, and subsequently agreed to acquire Magic Labs' wallet infrastructure business, planning to transform Kraken from a crypto exchange into a broader financial services platform. The company's adjusted revenue in the second quarter was $508 million, up 17% year-over-year, with funded accounts increasing to 6.6 million and platform assets reaching $40 billion.

U.S. CFTC plans to introduce rules to address potential conflicts of interest between prediction market exchanges and affiliated trading firms

The U.S. Commodity Futures Trading Commission (CFTC) is reviewing relevant rules to address possible conflicts of interest between prediction market exchanges and their affiliated trading firms.

Analyst: Bitcoin's correlation with U.S. stocks over the past six months is lower than gold, small-cap stocks, and U.S. Treasuries

Bloomberg ETF analyst Eric Balchunas posted on X that over the past six months, Bitcoin's correlation with U.S. stocks has been lower than that of gold, small-cap stocks, emerging markets, and even U.S. Treasuries. Balchunas pointed out that Bitcoin's correlation with U.S. stocks has remained around 0.4, while the correlation of gold and Treasuries with U.S. stocks has risen significantly. Although a six-month sample period is relatively short, this data refutes the claim that "Bitcoin is just a high-beta substitute for the Nasdaq 100 Index (QQQ)."

Whale that unstaked 2.886 million HYPE at the end of July has completed liquidation, with a profit of $132 million

The whale or institution that unstaked 2.886 million HYPE at the end of July has completed liquidation, transferring the final 969,000 HYPE ($79.18 million) to Coinbase Prime and FalconX 20 minutes ago. It accumulated and staked at about $19.8 early last year, and liquidated at about $64.9 over the past month, making a profit of $132 million (+228%).

Glassnode: Bitcoin remains in range-bound trading, with resistance at $83,000 to $86,000

Glassnode's latest weekly report noted that after the August short squeeze, Bitcoin briefly rebounded above $80,000, then encountered resistance in the long-term supply zone of $83,000 to $86,000 and pulled back to $76,000. Compared with the same price level in May, the current percentage of supply in profit has risen from 65% to 68%, because summer accumulation reset the short-term holder cost basis to about $71,000, and the same price level activated more profitable coins, expanding potential selling pressure. Spot Bitcoin ETFs saw average daily inflows of $290 million during the rebound, but daily trading volume was only about $3 billion, far below previous expansion-period levels, and policy-driven inflows lacked sustained momentum. On the macro front, the U.S. 10-year Treasury yield briefly declined and then rebounded to 4.8%, a new cycle high. Glassnode believes that before the $83,000-$86,000 supply zone is absorbed, the $62,000-$65,000 support range is the main downside reference level.

Robinhood Chain single-day fees reached $3.75 million, exceeding the combined total of Solana, Ethereum, and Base

According to Castle Labs data, Robinhood Chain's 24-hour on-chain fee revenue reached $3.75 million, exceeding the combined total of Solana, Ethereum, and Base.

Report: Beware of fake GTA 6 leaked version websites; connecting wallets may lead to multi-chain asset theft

According to a Malwarebytes report, scammers are exploiting the popularity of "GTA 6" to build phishing websites that claim to sell leaked versions of the game for $50 or 1 SOL, luring visitors to connect wallets and sign malicious transactions. The website contains about 2.4MB of malicious scripts that can identify wallet assets on seven chains: Ethereum, Polygon, BNB Chain, Avalanche, Arbitrum, Base, and Fantom, and immediately transfer assets or obtain permissions for subsequent transfers of tokens and NFTs based on the permissions signed by victims. The script checks visitor IPs before triggering, avoiding 10 countries including Armenia and Russia. Malwarebytes advises users to be wary of any website claiming to sell leaked versions of GTA 6, carefully review authorization content before signing transactions, and refuse operations that transfer entire balances or request token access permissions.

Michael Saylor: Strategy's "Total Reserve Capital" exceeds all S&P 500 financial companies except Berkshire

Strategy Executive Chairman Michael Saylor posted on X that Strategy's current Total Reserve Capital has exceeded all financial services companies in the S&P 500 except Berkshire Hathaway. As of August 30, the company held 845,050 BTC, with a total cost of $63.73 billion and about $6.71 billion in dollar assets.

Two whales purchased $35.1 million and $7.66 million worth of HYPE respectively today

Whales continue to buy HYPE, with mysterious whale 0x6436 buying another 430,224 HYPE ($35.1 million) today. Newly created wallet 0xC5ca withdrew 94,149 HYPE ($7.66 million) from FalconX 2 hours ago.

ARK Invest: Ethereum built the most successful "franchise network" but forgot to "collect rent"

ARK Invest Director of Digital Asset Research Lorenzo Valente published a long article comparing Ethereum, Solana, and Hyperliquid to three different fast-food business models: McDonald's, Chipotle, and In-N-Out. Ethereum corresponds to McDonald's "franchise + landlord" model - achieving zero-capital expansion through the Rollup roadmap, but failing to charge L2s reasonable settlement rent. After EIP-4844, blob fees fell to marginal cost, and L1 barely captured value from L2 activity. Solana corresponds to Chipotle's fully company-operated model - all transactions execute on L1, fees (base fees, priority fees, Jito tips) all remain within the system, security costs are paid through inflation, vertically integrated but bearing single-point-of-failure risk. Hyperliquid corresponds to In-N-Out's private family-owned model - no external capital, a single perfect product, fees almost entirely flowing to the assistance fund for HYPE buybacks, and HIP-3 allowing developers to deploy markets while retaining control and about a 50% fee share. Valente believes the three are not different versions of the same business, but completely different business models. The market will pay for clearly executed models, and the most fatal thing is "ambiguity."

Arthur Hayes: A falling EUR/JPY will signal accelerated Fed money printing, potentially bullish for Bitcoin

Arthur Hayes published an article titled "Atención," pointing out that U.S. Treasury Secretary Bessent is using a series of maneuvers to push EUR/JPY from its current level of 185 down to below 140, thereby triggering a massive injection of dollar liquidity that would benefit Bitcoin and the crypto market. Hayes noted that France is the weakest economy in Europe, with government spending at around 60% of GDP and heavy reliance on foreign capital (mainly German and Japanese) for financing. Its Target2 balance has shifted from net creditor to the largest debtor, and French bank stocks have already begun to fall. If French banks (which account for about 20% of the U.S. repo market) reduce repo lending due to capital outflows, repo rates will spike, forcing the Fed to expand its reverse repo (RMP) purchase scale. Maelstrom Fund's positioning strategy is a structural long on Bitcoin, with short-term bets on Ethereum at a $10,000 target, Ethena at $0.50, and Ether.fi at $2.

Zhipu AI opens official flagship store on Tmall, large model plans can now be purchased directly online

Chinese AI large model vendor Zhipu has officially entered Tmall, opening the "Zhipu Flagship Store." Users can search for "Zhipu Flagship Store" in the Taobao app to enter the store and place orders. The store has currently listed the Zhipu GLM Coding Plan subscription package, based on the GLM-5.3 model and compatible with more than 20 mainstream agents including ZCode, Claude Code, and Codex. Products on sale from Zhipu include personal Lite, Pro, and Max editions and team edition standard seats, with monthly, quarterly, and annual subscription options. The personal Lite edition is 118 yuan (including 10,000 credits/week), the Pro edition is 538 yuan (including 60,000 credits/week), the Max edition is 1,078 yuan (including 140,000 credits/week), and the team edition standard seat is 598 yuan (including 66,000 credits/seat).

Binance Alpha lists Pons (PONS) and FLORK (FLORK)

Binance Alpha listed Pons (PONS) and FLORK (FLORK) on September 2, 2026, with Pons available only on Binance Alpha 1.0. Users can now trade the above tokens on Binance Alpha using market orders and limit orders.

Grayscale: U.S. stock market concentration hits record high, increasing opportunities for crypto assets as a diversification allocation

Grayscale Head of Research Zach Pandl said U.S. residents' equity allocation has reached a record high, hitting 46.71% at the end of 2025. Combined with elevated stock valuations and unusually high market concentration, opportunities for crypto assets as a diversification allocation are increasing. Pandl noted that Bitcoin's 90-day correlation with the Nasdaq 100 has fallen from above 60% to around 33%, while its correlation with gold has risen from near zero to over 50%. After a prolonged downturn in the crypto market, valuations, leverage, and bullish positioning have all declined, forming a market structure "diametrically opposed" to the stock market. BlackRock previously also noted that a 1% to 2% Bitcoin allocation may be appropriate for some long-term portfolios, but warned that an overly large allocation could increase total risk due to volatility. Grayscale believes diversification benefits depend on differences in asset performance, but Bitcoin's price volatility has historically been greater than stock indices and it is not a consistently safe haven.