Morning Report | BlockTower founder Ari Paul: Coinbase once covered up a hacker attack exceeding 1 billion dollars; the Democratic Party in the U.S. is investigating Trump's cryptocurrency interests, extending to Binance and Tether
September 29 Market Important Events OverviewCompiled by: ChainCatcher
What important events have occurred in the past 24 hours?
Democrats Investigate Trump's Crypto Interests, Extending to Binance and Tether
According to ChainCatcher, the Democratic investigators of the U.S. Senate Homeland Security and Governmental Affairs Committee's Permanent Subcommittee released a report accusing USDT of becoming a significant financial channel for Iran's shadow banking system and calling for the Treasury and Justice Departments to investigate whether Tether violated sanctions and banking laws. The report mentions Tether's relationship with the Trump administration, including business dealings between Cantor Fitzgerald, controlled by Commerce Secretary Howard Lutnick's family, and Tether, as well as Bo Hines, the former head of the White House Crypto Council, serving as Tether's head of U.S. operations. This report continues the Democrats' investigation into the Trump family's crypto business. In May 2025, Richard Blumenthal launched an investigation into TRUMP, token holder dinners, and World Liberty Financial; in June, Elizabeth Warren and Jeff Merkley demanded explanations from MGX and Binance on why they used the Trump family-associated stablecoin USD1 to settle a $2 billion investment. In November, the House Judiciary Committee Democrats released a report accusing the Trump family of profiting from crypto businesses like WLFI and TRUMP, describing regulatory rollbacks, cessation of enforcement, and pardons for related individuals as a form of benefit transfer, claiming their crypto assets were valued at up to $11.6 billion, with related income exceeding $800 million in the first half of 2025. In 2026, Ro Khanna investigated reports that members of the UAE royal family spent $500 million to acquire a 49% stake in WLFI and whether this transaction was related to U.S. AI chip policies towards the UAE;
Ondo Perps CEO: Huge Opportunities in U.S. Perpetual Contract Market, but Product Structure Will Differ
According to ChainCatcher, Ondo Perps CEO David Wells stated in an interview with The Block during an Ondo event in Seoul, South Korea, that offering perpetual contracts in the U.S. is a "huge opportunity," and that Ondo's exploration of such expansion is "reasonable." He mentioned that everyone is paying attention to the U.S. because there are now more opportunities that were previously impossible. However, he also indicated that U.S. perpetual contract products will differ from existing products, with structures that vary from non-U.S. markets. Wells' comments come as U.S. regulators and several companies test how perpetual contracts can enter the U.S. market. In August, Trump stated that the CFTC is "bringing Hyperliquid to the U.S. in a fully compliant and legal manner." Kraken's parent company Payward has announced plans to launch Hyperliquid's HIP-3 perpetual market for eligible U.S. customers through the CFTC-regulated Bitnomial Exchange and NinjaTrader Clearing. Coinbase has also applied to launch single-stock perpetual contracts in the U.S. Earlier this month, Ondo Finance submitted a letter to the SEC and CFTC arguing that U.S. stock perpetual contracts fall under the securities futures category of the 2000 Commodity Futures Modernization Act. Wells stated that while the U.S. version of perpetual contracts and their market structure may be similar, settlement and clearing need to change to comply with U.S. rules. He did not confirm any plans to enter the U.S., stating that the team has not "gone too far" in exploring the U.S. market.
NEAR Intents: Freezing $503,000 of Bitget Stolen Funds
According to ChainCatcher, the cross-chain trading protocol NEAR Intents posted on X that Bitget was attacked on September 24, resulting in approximately $387.5 million in stolen funds, most of which were aggregated to Ethereum and converted to ETH. The hacker attempted to transfer over $50 million via NEAR Intents, but only $166,000 was successfully transferred, while $503,000 was intercepted during the execution process. NEAR Intents stated that the relevant data comes from on-chain tracking tools, Arkham, internal logs, and risk control layer SHIELD, with the listed figures being rounded estimates with a deviation not exceeding 10%. SHIELD identified over $50 million in money laundering attempts, filtering out duplicate flows, with $166,000 successfully transferred and another $503,000 frozen during execution, currently still restricted pending legal and recovery procedures. NEAR Intents stated: "Permissionless does not equal neutral," and the team refuses to assist in cashing out stolen assets and will forgo the bounty in this incident to allow Bitget to recover funds as much as possible. Bitget previously set up a 5% + 5% bounty arrangement. NEAR Intents also stated that the protocol will remain permissionless but set boundaries and combat the laundering of stolen funds, while suggesting Bitget contact legal and law enforcement channels to handle the frozen funds.
China's Generative AI User Base Surpasses 700 Million
According to ChainCatcher, on September 29, the China Internet Network Information Center's Policy and International Cooperation Office released the "Generative AI Application Development Report (2026)" at the "2026 (Seventh) China Internet Infrastructure Resources Conference." The report shows that as of the first half of 2026, China's generative AI user base has surpassed 700 million, with a penetration rate exceeding 50.0%. Intelligent Q&A is the main scenario, with 76.0% of users using it to answer questions, while users handling images or videos, text, and work summaries, meeting minutes, and PPTs account for 47.8%, 37.6%, and 32.5%, respectively. The usage of applications like AI comprehensive assistants and AI efficiency office tools has increased by over 100% year-on-year. 38.7% of netizens have purchased smart hardware online in the past six months, with the purchase ratios of smart wearable devices, smartphones, and tablets being 20.2% and 18.2%, respectively. As of June 2026, China's intelligent computing power reached 2185 EFLOPS, a year-on-year increase of 177%, and the first domestically produced 100,000-card AI supercluster has officially been put into use. Deep Exploration, Dark Side of the Moon, and others have released multiple trillion-parameter open-source large models, with over 120,000 high-quality datasets established. The application rate of AI technology in large-scale manufacturing enterprises has exceeded 30%, with over 400 humanoid robot complete products in the first half of 2026, and the total output for the year is expected to exceed 100,000 units. During the same period, there were 1,255 AI-related investment and financing events, totaling approximately 250.14 billion yuan, reaching 78.0% and 182.0% of the total for the entire year of 2025, respectively.
BlockTower Founder Ari Paul: Coinbase Covered Up Over $1 Billion Hacker Attack
According to ChainCatcher, Ari Paul, founder and chief investment officer of crypto asset management firm BlockTower Capital, stated on X that Coinbase "lost" $25 million of its company funds years ago, later discovering that the company was actually covering up large-scale and repeated hacker attacks, and the relevant funds have still not been returned. Ari Paul mentioned that his team has tracked at least a dozen other affected institutions, with the covered-up amount exceeding $1 billion. He stated that he can only disclose this information at present because multiple legal proceedings are still ongoing.
Florida Requests Court to Ban OpenAI from Unsupervised Development of New Models
According to ChainCatcher, Reuters reported on September 28 that Florida Attorney General James Uthmeier requested a judge on Monday to prohibit OpenAI from developing new AI models without external supervision. This request is part of the state's lawsuit accusing OpenAI of harming children. Uthmeier also requested the court to order OpenAI to prohibit minors from using ChatGPT and to prevent the company from attributing human characteristics to the chat platform. Florida sued OpenAI in June, accusing it of distorting the safety of ChatGPT, claiming the platform provided information to school shooters, offered guidance on self-harm, and made young users addicted. The lawsuit was triggered by a shooting incident at a university in Tallahassee last year, as well as other incidents in various states where ChatGPT allegedly provided information to individuals who later committed acts of violence. Uthmeier, a Republican, is also the first state attorney general to sue OpenAI over its impact on young users, and the company is facing related lawsuits from individuals and families. OpenAI spokesperson Drew Pusateri stated that the company has paused training its most powerful models and will not resume until additional safety measures are implemented, and is willing to work with Florida and other states to promote practical policies applicable across the industry. The company denies liability in these cases, stating that the chatbot provides widely available information online and continuously updates safety tools. The application also cited recent remarks from a former OpenAI employee and a current board member, stating that the development of AI could lead to the end of humanity and must be slowed down.
Martin Carrica Joins Coinbase as Head of Stablecoins
According to ChainCatcher, Martin Carrica announced on X that after four years working on regulated stablecoin-related projects with stablecoin issuer Mountain Protocol and licensed crypto institution Anchorage, he will join Coinbase as the head of stablecoins, responsible for expanding the distribution and influence of stablecoins. Martin Carrica stated: "Stablecoins are the most transformative financial product; despite significant success, their scale remains relatively small." He will focus on promoting the scalable development of this technology.
U.S.-Iran Standoff Drives Up Oil Prices, Asian Bond Markets May Follow U.S. Bonds Lower
According to ChainCatcher, the Asian bond market is expected to follow U.S. bonds lower as the U.S.-Iran standoff keeps oil prices high, exacerbating inflation concerns and increasing market bets on further interest rate hikes by the Federal Reserve. New Zealand government bonds opened lower, and Australian government bond futures may decline. The benchmark 10-year U.S. Treasury yield rose by as much as 11 basis points to 5.27%, reaching a 19-year high; the 30-year yield rose to 5.55%. Morgan Stanley analyst Chris Larkin stated that market focus may still be on interest rates and energy prices.
Goldman Sachs' $100 Billion Treasury Fund FTIXX Connects to Lynq Network
ChainCatcher news, Goldman Sachs has connected its approximately $100 billion government bond fund FTIXX to the digital asset settlement network Lynq, providing a new subscription channel for institutional-level cryptocurrency companies. The fund will be listed on Lynq, with trading handled by tZERO Securities, a broker-dealer registered with the U.S. Securities and Exchange Commission. This is the first external fund introduced to the Lynq network, which previously only had a single investment product. Unlike most blockchain-based fund products on Wall Street, FTIXX has not been tokenized. BlackRock's BUIDL is a tokenized fund, and Franklin Templeton provides tokenized shares of money market funds through BENJI, while Goldman Sachs retains FTIXX in its traditional fund form, with Lynq opening new access channels for digital asset companies. Lynq CEO Jerald David stated that a convergence is occurring between traditional market participants and digital asset market participants. For institutions using Lynq, FTIXX provides a place to store cash and earn returns during trading gaps, redeemable when needed. David noted that clients had been looking for government bond assets with yields different from existing tools on the platform. Lynq's partners include B2C2, Wintermute, Galaxy, FalconX, Crypto.com, and Fireblocks. The network operates on a private permissioned Avalanche Layer 1 blockchain and has connected with over 30 institutional digital asset companies, with assets exceeding $89 million.
Cryptocurrency Industry PAC Spends $11.4 Million Against Sherrod Brown's Return to the Senate
ChainCatcher news, the political action committee (PAC) Defend American Jobs, allied with the cryptocurrency industry and primarily funded by the industry, disclosed in documents submitted to the U.S. Federal Election Commission (FEC) that it has spent $11.4 million on media advertising to support Republican Jon Husted and oppose Democrat Sherrod Brown's campaign for the Ohio federal Senate seat. This PAC is affiliated with Fairshake, supported by Coinbase and Ripple Labs. This advertising expenditure is part of Fairshake's commitment to initially invest $30 million to prevent Brown's return to the Senate. Brown, a former chairman of the Senate Banking Committee, is one of the critical voices in Congress regarding cryptocurrency legislation and policy. In the 2024 Ohio Senate election, Brown's showdown with Republican Bernie Moreno attracted over $300 million in spending from external groups like Fairshake, with cryptocurrency-related PACs and their affiliates spending about $41 million against Brown and supporting Moreno, who ultimately won with 50.2% of the vote. Husted's seat was appointed by Ohio Governor Mike DeWine, succeeding JD Vance, who was elected as the U.S. Vice President in 2024.
Bitwise Executive: Bitcoin's Fair Value is $197,000
ChainCatcher news, according to Bitcoin Magazine, Bitwise's André Dragosch stated that Bitcoin's fair value is $197,000. He also provided a rule of thumb for assessing the risk of 10-year U.S. Treasury yield: when the yield rises by 80 basis points within 20 trading days, the market enters a danger zone. Dragosch pointed out that the speed of the yield's rise is more important than its absolute level. He believes that a correction in the stock market could force the Federal Reserve to shift to a looser policy, which may become the last domino before Bitcoin truly enters a bull market.
User Claims 50 BTC Deposited in Solv Protocol Has Not Been Withdrawn for Over 2 Months
ChainCatcher news, user @neillee99 posted that approximately 50 BTC held in Solv Protocol cannot be redeemed normally. The user stated that they withdrew about 50 BTC from Binance on July 8, 2026, and converted it through normal channels into SolvBTC and BTC+, aiming to earn about 3% annualized returns by holding BTC+, without engaging in complex transactions. The user claimed that after the deposit, the minting and redemption functions for BTC+ suddenly paused. On July 13, a security incident occurred with BTC+, and the user inquired twice in the official community on July 18 and July 20 but received no effective response. On July 22, Solv Protocol publicly disclosed the incident, stating that user assets were not harmed. On July 31, the project team announced that related functions were restored, and staff informed that redemption could be initiated, but their address remained restricted, and the approximately 50 BTC corresponding assets could not be redeemed. The user stated that since July 31, they have continuously communicated through the official Discord, Telegram, and email, submitting materials such as source of funds, transaction records, and wallet control proof; there have been about 60 emails exchanged, with about 50 sent by them, and after contacting relevant personnel in September, they still received no effective response. Their demand is to lift the restrictions and restore normal redemption, while also stating that they initially accessed BTC+ through the BTC earnings-related page via Binance Web3 Wallet, calling for Solv Protocol, Venus Protocol, and related investors and ecosystem parties to pay attention to the handling progress.
Gold Slightly Rebounds as Market Awaits U.S. Economic Data Guidance
ChainCatcher news, spot gold rose slightly on Tuesday but remained below $4,200 per ounce. Previously, rising U.S. Treasury yields to multi-decade highs and increasing oil prices triggered a sell-off in the precious metals market. IG analysts stated that due to market expectations that the Federal Reserve will maintain high interest rates for a longer period, gold only rebounded slightly. Traders expect a 72.5% probability of a rate hike by the Federal Reserve in October. The market is focused on U.S. economic data, including the consumer confidence index and job vacancy data.
HashKey CFO: Assessing Acquisition Investment Opportunities in Asia and the Middle East Over the Next 12-24 Months, Focusing on Infrastructure Targets like Trading, Custody, and Clearing
ChainCatcher news, digital asset financial services group HashKey is assessing more acquisition targets, strategic investment opportunities, and potential collaborations in Asia and the Middle East. HashKey CFO Eric Zhu stated in an interview with Mergermarket that capital deployment over the next 12 to 24 months will focus on trading and liquidity, custody, clearing and settlement, payments, and tokenization, with priority markets including Singapore and Southeast Asia, Japan, and the Middle East. HashKey is evolving from a single trading platform into a comprehensive provider of digital asset and financial services infrastructure.
Morgan Stanley: Federal Reserve Rate Hikes May Be Lower Than Expected
ChainCatcher news, Morgan Stanley interest rate strategists stated that after the Federal Reserve's rate hike in September, they expect one rate hike each in December and March next year. However, market pricing indicates a more aggressive rate hike in the coming year. Strategists believe that the actual tightening by the Federal Reserve will not reach the levels expected by the market, as key factors will not become clear until later this year. The money market expects a cumulative rate hike of 100 basis points over the next 12 months.
Cross-Chain Trading Platform Relay API Exposes Pending Transactions, Will Compensate Approximately $312,000
ChainCatcher news, Relay co-founder and COO Jason Maier stated that the team discovered an issue with the Relay API over the weekend, which exposed pending transaction information before execution. MEV searchers exploited the pending routing state to infer on-chain paths and front-run trades before order execution, resulting in worse execution prices for users trading through Relay. This activity occurred between September 12 and September 26, primarily concentrated from September 23 to 26. Searchers profited approximately $136,000, affecting about 5,600 users, with a median impact of $11.88. Relay will pay a $50,000 bounty to Outputlayer for reporting the issue and will automatically compensate affected users without requiring applications; funds will be directly sent to wallets, with total compensation amounting to approximately $312,000. Jason Maier stated that MEV can arise through public memory pools, order detail inference, malicious participation in auctions, or data gaps between service providers, and protecting a single link in the transaction path is insufficient. He mentioned that the team will continue to enhance the execution quality and privacy of the entire transaction path and called on security researchers to report vulnerabilities when discovered.
Jia Yueting's FF Robotics Business Plans to Independently List on NASDAQ with a Valuation of $200 Million
ChainCatcher news, according to Sina Technology, Faraday Future (FF) announced that its robotics business plans to independently list on NASDAQ under the valuation of $200 million by merging with the publicly listed company AIxC (which will be renamed FFR). FFAI's strategic upgrade is to become a Robotaxi sharing network + smart cabin technology operator and Physical AI investment holding company. FF founder and global CEO Jia Yueting stated, "FFAI will merge the robotics business into AIxC and independently list, and FFAI will also release value in a more open and resilient manner." The NASDAQ-listed company AIxC has signed a non-binding Term Sheet with FFAI to merge FFAI's robotics assets and business at a market valuation of $200 million, aiming to become the first pure-play stock in the four-core all-intelligent EAI robotics ecosystem. Specific transaction arrangements are still subject to final agreements, approvals from the special committees of the boards of AIxC and FFAI, regulatory approvals, and formal announcements from the companies.
Lending Protocol Spark Configures $210 Million Institutional Loan, BTC Custodied by Anchorage
ChainCatcher news, lending protocol Spark announced that it has configured a $210 million institutional loan secured by Bitcoin, with the related Bitcoin held by digital asset custodian Anchorage Digital. Institutions can borrow USDC while the pledged assets continue to be held by qualified custodians. Spark provides the loan funds, and Anchorage Digital manages the collateral through its Atlas platform. Atlas is its automated network that provides around-the-clock margin monitoring, settlement, and third-party services within a regulated custody framework.
CFTC Approves Coinbase Clearing Launch, Supporting USDC Collateral and Around-the-Clock Settlement
ChainCatcher reports that Coinbase Markets, a subsidiary of the cryptocurrency trading platform Coinbase, announced that the U.S. Commodity Futures Trading Commission (CFTC) has approved the launch of Coinbase Clearing LLC, which is Coinbase's own clearinghouse with USDC as its native collateral asset. Coinbase Markets stated that Coinbase Clearing is designed for round-the-clock settlement and supports USDC as collateral. The launch of this clearinghouse completes Coinbase's comprehensive layout of its regulated derivatives infrastructure.
UK Chancellor Criticizes Nigel Farage's "Bitcoin Account"
ChainCatcher reports that UK Chancellor John Healey criticized Reform Party leader Nigel Farage's stance on Bitcoin during a speech on Monday, calling him "Liz Truss with a Bitcoin account." Healey stated that Farage wants the public to think he is a representative of the common people, but on economic issues, he is just "Liz Truss with a Bitcoin account." Liz Truss is the UK's shortest-serving Prime Minister, widely criticized for her 2022 mini-budget driven by debt. Healey also stated that his party, the Labour Party, will help the UK lead through fiscal discipline, good jobs, and a strong industry. Farage has long been a political supporter of cryptocurrency, primarily viewing Bitcoin as an issue of personal freedom since 2020, and opposing government control over currency. He has claimed that he was shut out of his account by the UK private bank Coutts, which sparked his increased interest in digital assets. Last year, at the Bitcoin 2025 conference in Las Vegas, he stated that if elected Prime Minister, he would cut crypto capital gains tax and force the Bank of England to establish Bitcoin reserves. Farage has faced criticism this year for accepting donations from cryptocurrency entrepreneurs, including tech entrepreneur and Tether investor Christopher Harborne and one of the founders of the now-defunct cryptocurrency exchange BitMEX, Ben Delo. The London Metropolitan Police have launched an investigation into Reform's alleged violations of overseas donation rules, with Reform denying any wrongdoing and stating they will cooperate.
Jamaica's House of Representatives Reviews Virtual Asset Service Provider Regulation Bill
ChainCatcher reports that Jamaica's House of Representatives began reviewing the Virtual Assets Service Providers Act on September 22, which aims to establish a licensing and regulatory framework for cryptocurrency exchanges and other virtual asset service providers, ensuring compliance with international standards such as anti-money laundering. The bill stipulates that any business providing virtual asset services to Jamaican consumers, regardless of its headquarters location, must obtain a license from the Financial Services Commission (FSC); operating without a license will constitute a criminal offense. Licensed institutions must also fulfill obligations such as customer identity verification, transaction monitoring, and suspicious activity reporting. Jamaica's Finance Minister Fayval Williams stated that FSC licensing only regulates business operations and does not constitute official recognition or guarantee of the traded digital assets. The Jamaican dollar remains the only legal tender in the country, and the FSC will be authorized to license, supervise, and shut down non-compliant virtual asset businesses.
Cryptocurrency Trading Platform BTSE Obtains Digital Asset License from Bhutan GMC
ChainCatcher reports that BTSE Exchange Pte Ltd (BTSE Bhutan), a subsidiary of the cryptocurrency trading platform BTSE, announced that it has been granted a financial services license by the Gelephu Financial Services Office (GFSO) of the special administrative region of Gelephu, Bhutan. The company received preliminary approval in April 2026, and this license confirms that it has met all prerequisites. The license authorizes the operation of a virtual asset multilateral trading facility and the provision of institutional-level virtual asset custody services. The company will begin onboarding users in the coming weeks, with initial spot trading limited to BTC/USDT and ETH/USDT, while more trading pairs and fiat exchanges will be rolled out in phases, with customer assets placed under licensed custody arrangements as per regulatory requirements.
Data: Ethereum Spot ETF Saw Total Net Inflows of $17.0959 Million Yesterday, Continuing 7 Days of Net Inflows
ChainCatcher reports that according to SoSoValue data, the total net inflow for Ethereum spot ETFs was $17.0959 million. The Ethereum spot ETF with the highest single-day net inflow was Blackrock ETF ETHA, with a single-day net inflow of $15.3539 million, bringing ETHA's historical total net inflow to $13.299 billion. The second highest was 21Shares ETF TETH, with a single-day net inflow of $1.742 million, and TETH's historical total net inflow currently stands at $32.8813 million. As of the time of publication, the total net asset value of Ethereum spot ETFs was $17.692 billion, with an ETF net asset ratio (market cap relative to Ethereum's total market cap) of 5.4%, and the historical cumulative net inflow has reached $13.957 billion.
Reports Indicate TSMC Plans to Build Second Park in Texas, Investment Estimated to Exceed Arizona
ChainCatcher reports that the Economic Daily cited semiconductor equipment industry sources stating that TSMC plans to expand its manufacturing footprint in the U.S., initiating plans for a second park after Arizona, with a high likelihood of establishing six advanced wafer fabs in Dallas, Texas. Reports suggest that if the second park is initiated, the total investment is expected to exceed the $26.5 billion in Arizona, linking Arizona's wafer manufacturing with Texas's advanced ecosystem. As of September 28, reporters had not received a response from TSMC; supply chain operators indicated that the owner had not yet notified them to prepare, and the board had not made a decision. TSMC's wafer fab in Phoenix, Arizona, has seen its total investment rise to $26.5 billion, planning to include six fabs, two advanced packaging plants, and a research center. Reports indicate that TSMC's considerations for increasing overseas operations include proximity to customers, diversifying geopolitical risks, and overcoming resource limitations such as land and water in Taiwan. U.S. customers accounted for approximately 75.64% of TSMC's revenue in the first half of 2026. Industry rumors suggest that TSMC is responding to demands from clients like Nvidia, Intel, AMD, and Apple for local production in the U.S., facing pressure from the U.S. government threatening high tariffs of up to 200% on chip manufacturers that do not relocate to the U.S. Dallas and North Texas are known as the "Silicon Prairie," with local factories from Texas Instruments, Coherent, Samsung, and Tesla. Reports indicate that the Arizona facility still faces challenges such as water shortages, power shortages, and labor shortages, while Texas offers talent, lower taxes, and stable electricity, leading supply chain operators to believe that site evaluations are nearing completion.
Central Daily: Former CEO of Changxin Memory Accused of Pressuring for Samsung Technology
ChainCatcher reports that South Korea's Central Daily has reported that a statement obtained from a former Changxin Memory (CXMT) equipment investment head, who previously worked at Samsung Electronics, reveals that CXMT's former CEO Wang Ningguo summoned the Korean team, including the individual, from October to December 2016, demanding they bring back Samsung's Process Recipe Plan (PRP) and equipment information, threatening to report them to the Korean government if they did not comply, and warning them to verify their connections and not to lie. The individual stated that they felt scared at the time. Reports indicate that CXMT management used "Huangshan" as a code name for Samsung Electronics. After working at Samsung Electronics for 28 years, the individual joined CXMT and was prosecuted for unauthorized disclosure and use of Samsung's 18nm DRAM process, which was developed with an investment of 1.6 trillion Korean won, and was the first of its kind globally. In April of this year, they were sentenced to seven years in prison in the first trial and are currently in the second trial. The PRP includes the sequence, equipment, condition values, and equipment companies and models for approximately 600 steps in DRAM manufacturing. A process design engineer from Samsung, Park, hand-copied the relevant content into a 12-page notebook in September 2016, and is currently under an Interpol red notice. The individual stated in court that during communications with the Chinese side, there was a claim that they would not provide investment to CXMT if they could not produce the 18nm process, and later learned that the other party had wanted the technology from the beginning, with CXMT initially having no plans for independent development. The pressure occurred prior to a meeting to prepare for investment applications. CXMT was established in 2016 with an investment of 14.4 billion yuan from the Hefei Municipal Government's Hefei Industrial Investment, and had not been profitable for about ten years, achieving its first annual profit last year with a net profit of 7.1 billion yuan.
Blackrock Withdraws Approximately $127 Million in BTC and ETH from Coinbase Prime in the Past Hour
ChainCatcher reports that the on-chain monitoring account Onchain Lens stated that Blackrock has withdrawn approximately $126.95 million in crypto assets from Coinbase Prime in the past 40 minutes. This includes about 1,150 Bitcoin, valued at approximately $95.43 million, and about 11,840 Ethereum, valued at approximately $31.52 million.
Yili Hua: Bitcoin May Face Larger Level Correction If It Can't Hold $82,000
ChainCatcher reports that Yili Hua, founder of Liquid Capital, stated on the X platform: "The current market is in a pullback within an upward channel on the daily chart, which does not yet constitute a trend reversal, but this short-term false breakout is a typical trap for bulls. The key pullback level is at $82,000; if it holds, the pullback will end and continue to rise. If it can't hold $82,000, it may face a larger level correction." "A few days ago, when looking at the pullback, we made progress in one thing: not trying to earn speculative money, not trying to grab the last penny, and patiently waiting for new certainty opportunities. However, in the context of weak U.S. stocks, rising interest rates, and falling gold prices, the crypto market has relatively performed strongly, and I believe it is part of a normal rise and pullback."
Data: INIT Rises Over 24%, MARSCOIN Falls Over 11%
ChainCatcher reports that according to Binance spot data, the market has seen significant fluctuations. INIT has risen 24.75% in the past 24 hours, reaching a bottom-rebound state. On the other hand, MARSCOIN has fallen 11.71% in the past 24 hours, showing a high-to-low reversal state. ALGO, ARKM, W, LUMIA, and Niu Lai also experienced high-to-low reversals, with declines of 6.77%, 8.45%, 5.85%, 5.6%, and 9.48%, respectively. Additionally, PNUT reached a new high today, with an increase of 6.01%, and BEB also reached a new high today, with an increase of 11.11%. HBAR, however, reached a new low today, with a decline of 6.3%.
Meme Popularity Ranking
According to the meme token tracking and analysis platform GMGN, as of September 30, 08:45, the top five popular ETH tokens in the past 24 hours are: ZC, STOCKER, SEND, SNOWMOON, SNOWMOON.
The top five popular tokens on Solana in the past 24 hours are: SI, BAGSPAY, PARASITE, STONK, SI
The top five popular tokens on Base in the past 24 hours are: Basecat, boar, SPIKE, SOL, PROS
What are the exciting articles worth reading in the past 24 hours?
Anthropic's Prospectus: 7 Key Insights - 2 Clients Contribute 1/4 of Revenue
The reference frame is right in front of us: SpaceX recently completed a market-shaking IPO, valued at $1.77 trillion, with a 19% surge on its first day of trading on June 12; competitor OpenAI secretly submitted its application in June, expecting to go public in early 2027. Whoever lists first will set the valuation benchmark for the entire AI industry—this is also the true motivation behind Anthropic's head start. The prospectus reveals a staggering $518 billion computing power plan, a net loss of $42 billion, and a $2 trillion valuation, which forms the core debate of this "largest IPO in history." In November, Wall Street will provide a pricing based on real money.
Anthropic was founded about five years ago by a group of researchers who left OpenAI due to disagreements over corporate governance and AI safety concepts, and released its first large language model in March 2023, directly competing with OpenAI. Additionally, the company is competing with SpaceX's xAI, Alphabet's Google, and Meta in the AI infrastructure field. Amazon and Google are Anthropic's two major strategic partners, both injecting billions of dollars in investments while providing cloud computing infrastructure support for the training and deployment of the Claude model. Analysts believe that the first pure play in the AI field to go public will set a benchmark for the entire industry's valuation system and provide a direct entry channel for investors who have been waiting for years to enter the AI space.
Withdrawal data update and event summary Gracy Chen: One last update on withdrawal data. As of 16:50 UTC+8, we have received 7,683 Bitcoin withdrawal orders, corresponding to 3,609 Bitcoins. Among them, 6,946 orders have received at least one block confirmation, corresponding to 3,326 Bitcoins; another 737 orders have been broadcasted and are waiting for on-chain confirmation, corresponding to 283 Bitcoins. The first batch of Bitcoin withdrawals has been relatively smooth, with no significant backlog. In addition to the Bitcoin mainnet, we have also received some withdrawal orders through BSC, which are currently also running smoothly. This is the first security incident in Bitget's eight-year history. According to the current investigation, the main cause of the attack is a vulnerability in a third-party security product, with more details to be disclosed in an independent security report.
A loan can only be considered useful collateral when the lender can value the stock tokens, understand their corresponding legal rights, and recover funds by disposing of collateral when the borrower is unable to repay. Market closures, redemption restrictions, and differences between issuers make this matter far more complex than simply connecting to a stock price data source. Startups can develop collateral assessment, risk management, and liquidation tools for lending platforms without having to become lenders themselves. The value lies in helping platforms decide which collateral to accept, how much funding can be lent, and how to exit during market pressure. This relies on reliable data and real usable liquidity; having only smart contracts is not enough. These are three different businesses: user-facing investment products, operational software for financial institutions, and infrastructure serving lending. Each requires clear customers and a reason for existence beyond "putting tokens on the chain."
Conway's Law states that organizations that design systems will ultimately produce systems that replicate their own communication structures. In the Agent era, the members of the organization are Agents, and the system and organization become one. The nature of the organization determines the nature of the Agent system; designing an Agent system is equivalent to designing the organization. This is not just an individual's fantasy. Microsoft stated in its annual workplace trends report that everyone will become a boss of Agents; NVIDIA CEO Jensen Huang said that the IT department will become the HR department for AI Agents. Therefore, the most valuable jobs in the Internet of Agents are, first, AI engineers who can create products and services for Agents, and second, commanders who can lead a thousand Agents to defeat another thousand Agents.
Strategy Restarts Coin Hoarding, While Increasing Support for STRC
Daily interest distribution can shorten the waiting time for investors to receive returns and reinvest, while alleviating price fluctuations caused by infrequent distributions. Strategy stated that maintaining the STRC price close to its $100 par value is one of the goals of this mechanism reform. Therefore, there are two indicators worth paying attention to by the end of this quarter. Strategy has resumed continuous Bitcoin purchases and still has substantial cash and equity issuance capacity; meanwhile, STRC's price has rebounded to within 1% of its par value after months of support. Subsequent disclosures will reveal two mysteries. First, whether management can continue the continuous Bitcoin purchases into the third week; second, whether the combination of buybacks and the proposed daily distribution plan can ultimately drive STRC back to par value without needing Strategy to absorb a large amount of market sell orders.
In terms of net profit, according to Visible Alpha's forecast, NVIDIA's net profit for this fiscal year is expected to double to $245 billion and further rise to $387 billion in the next fiscal year ending in January 2028. In secondary market performance, since OpenAI launched ChatGPT at the end of 2022, NVIDIA's stock price has increased by over 1200%. However, in 2026, the stock's remarkable growth has slowed, with a year-to-date increase of about 20%. Against the backdrop of market divergence regarding the sustainability of AI prosperity, strong earnings expectations and ample cash flow have become the core support for stabilizing investor confidence in NVIDIA.
Risk warning
