1. Top 10 CEX Trading Volume and 24-Hour Price Change:
BTC: -0.27%
ETH: -2.74%
BERA: +684.50%
XRP: -2.93%
SOL: -3.69%
TRUMP: -6.66%
SUI: -4.81%
DOGE: -2.93%
PEPE: -7.49%
BNB: +0.86%
24-Hour Gainers (Data from OKX):
BERA: +90.20%
ICE: +12.31%
TRX: +4.58%
PRQ: +4.38%
VENOM: +3.47%
Non-Fungible Token: +3.34%
TRA: +2.53%
MOVE: +2.52%
ONDO: +2.01%
SWEAT: +1.77%
2. Top 5 Trending Meme Coins on-Chain (Data from GMGN):
GIBA
wef
CHLOE
Montoya
OPS
3. 24-Hour Trending Coins:
Bera: The official token of the parallel EVM project Berachain, listed on major exchanges like Coinbase and Upbit last night, but has since dropped below $7 and is now slightly recovering.
TST: The BNB team previously released an educational video on meme tokens, using TST as an example, and a community-created token of the same name has since seen significant price appreciation.
Headlines
Jupiter co-founder meow posted on X, responding to the hacking of the official X account, stating: "Employee @9 yointern was returning to Singapore from Mountain Dao due to a family emergency at the time. To my knowledge, our X account was accessed from an Android phone in the US, and we have completely lost contact with her. If you find her or know what happened, please let us know."
Crypto Firm Gemini Considering IPO This Year
Sources reveal that Gemini, the cryptocurrency company backed by billionaire Winklevoss twins, is considering an IPO this year. The sources said the company and its custodian are currently discussing the possibility of a listing with potential advisors, but no final decision has been made. According to the company's website, Gemini currently has over 500 employees in locations such as New York, Seattle, Singapore, London, Dublin, and Gurugram, India.
Solayer Announces LAYER Token Economics: Total Supply of 1 Billion, 12% for Genesis Drop
Solayer has announced the LAYER token economics, stating that to ensure broad decentralization, LAYER will be distributed through Emerald Card community sales and an airdrop for early adopters. The maximum LAYER supply is 1,000,000,000, distributed across three main categories, with an initial circulating supply of 220,000,000, allocated as follows:
- 51.23% for the community and ecosystem, including 34.23% for ongoing R&D, developer programs, ecosystem development, and other user activities, 14% for community activities/incentives (12% reserved for Genesis Drop, including rewards for early adopters and other initial claim activities), and 3% distributed through Emerald Card community sales;
- 17.11% for core contributors and advisors;
- 16.66% for investors;
- 15% for the foundation to support vertical product expansion and network development.
The LAYER vesting schedule is as follows:
Genesis Drop: Fully unvested at launch;
Emerald Card community sales: Fully unvested at launch;
Community incentives: Linear vesting over 6 months;
Community and ecosystem: Quarterly vesting over 4 years;
Foundation: Quarterly vesting over 4 years;
Team and advisors: 1-year cliff, 3-year linear vesting;
Investors: 1-year cliff, 2-year linear vesting.
Bloomberg senior ETF analyst Eric Balchunas posted on social media that "Trump is going to launch a Bitcoin Plus ETF. You could say he'll be the first US president to issue an ETF."
Industry News
US Federal Judge Harshly Criticizes FDIC's Conduct in Coinbase Lawsuit, Calling Its Actions "Absurd"
According to the latest hearing transcript, US Federal Judge Ana C. Reyes harshly criticized the FDIC's (Federal Deposit Insurance Corporation) conduct in Coinbase's lawsuit against the agency. Judge Reyes pointed out that the FDIC failed to provide a significant number of documents related to Coinbase's previous Freedom of Information Act (FOIA) request and may have destroyed some case information. During the hearing, Reyes questioned FDIC lawyer Andrew Dober for the "extremely narrow and illogical" explanation of the FOIA request, calling the agency's actions "almost absurd". Dober attempted to request a three-week stay of the case due to leadership changes, but was rejected by the judge, who demanded immediate answers. The lawsuit stems from Coinbase's efforts to obtain FDIC documents sent to banks to restrict cryptocurrency-related activities, an action referred to by industry participants as "Operation Choke Point 2.0".
Bloomberg Analyst: US SEC Accepts Grayscale's 19b-4 Filing for Solana ETF
Bloomberg analyst James Seyffart posted on X that "the US SEC has accepted Grayscale's 19b-4 filing for a Solana ETF. This is indeed noteworthy news, as the SEC has recently rejected such SOL application attempts. The deadline for this application is around October 11."
Trump Family Crypto Project WLFI Plans to Establish "Strategic Reserves" Using Held Tokens
Chase Herro, co-founder of the Trump family crypto project WLFI (World Liberty Financial), stated that the platform plans to use purchased tokens to establish "strategic reserves", but did not specify the purpose of WLFI's token reserve accumulation.
Donald Trump Jr. attended the inaugural summit of startup Ondo Finance in New York, along with WLFI co-founders Zak Folkman, Zach Witkoff, and Herro. Zach is the son of Steve Witkoff, a close Trump ally who helped connect the Trump family with the WLFI founders, who was later appointed as Trump's Middle East envoy.
House Financial Services Committee Chair Patrick McHenry, CFTC Acting Chair Caroline Pham, and "Godfather of Crypto" J. Christopher Giancarlo were among the speakers at the event, which discussed the future of tokenization and regulatory issues.
Giancarlo, commenting on the Trump administration's plans for the crypto industry, stated: "Promises are being kept. Getting rid of the bad policies of the last four years is one thing. Crafting good policies is the challenge."
US SEC Considers Amending BlackRock's Spot Bitcoin ETF Proposal to Allow Physical Redemption
The U.S. Securities and Exchange Commission is considering a proposal to change BlackRock's spot Bit trading exchange-traded fund to allow physical redemption. In a document acknowledging the proposal released on Thursday, the SEC requested comments within 21 days of the document's publication in the Federal Register. The document stated that the agency could then decide to approve, disapprove, or "institute proceedings." According to a 19b-4 form filing, Nasdaq filed a revised rule filing on behalf of BlackRock last month to allow redemption and physical creation of the iShares Bit Trust.
Project News
Trump Family Crypto Project WLFI Buys About 342,000 ONDO
According to Arkham monitoring data, about 1 minute ago, the Trump family crypto project WLFI bought about 342,000 ONDO, worth $461,700.
OpenAI Co-Founder John Schulman to Join New Company Led by Former OpenAI CTO
Earlier this week, OpenAI co-founder John Schulman left Anthropic, where he had been working for just five months, to join the secretive new startup led by former OpenAI Chief Technology Officer Mira Murati.
It is currently unclear what role Schulman will take on. Murati has been tight-lipped about the new company since leaving OpenAI in September. But a source revealed that Murati has recruited more former OpenAI employees, including Christian Gibson, who previously worked on OpenAI's supercomputing team. Murati negotiated over $100 million in funding for the new company in October.
Schulman is credited as one of the main architects of ChatGPT, and left OpenAI to join Anthropic last August.
Voices
CZ: If You Only Use Cryptocurrencies, All Your Transactions Are on-Chain
CZ, when forwarding a message on the X platform that "Musk has confirmed he wants to bring U.S. Treasury transactions onto the blockchain," said that if you only use cryptocurrencies, then all your transactions are on-chain. (Regardless of which blockchain, you can use multiple/any blockchain.)
Fed Governor Waller: I Don't Think the U.S. Has a Reason to Establish a CBDC
Federal Reserve Governor Waller said, "I don't think the U.S. has a reason to establish a retail central bank digital currency (CBDC)."
CryptoQuant CEO: Trump Coin Is Just the Beginning, PoliFi May Become the Killer App of Crypto
CryptoQuant founder and CEO Ki Young Ju posted on the X platform that "PoliFi may become the killer app of the crypto industry, a powerful crypto asset that can attract capital and talent through an engaging narrative to form a self-constructing internet organization. The influence of a narrative depends on the following three points:
1. Able to resonate with the majority of people;
2. Have an extreme, provocative theme;
3. Able to provoke fierce debate.
Politics just meets these three criteria, it is widely relevant, highly controversial, and has a natural tendency towards polarization. Imagine the Republican and Democratic parties in the U.S. launching official PoliFi tokens, with ETFs tracking tokens supported by politicians. Trump Coin is just the beginning."
CZ: TST Is Not the Official Token of the BNB Chain Team, Only Used for Video Tutorial Examples
CZ posted on the X platform: "Previously, an educational video was released on launching a meme token, using the token named TST as an example, and later the community appeared with this token. After the team members learned about this, they deleted the video. But the internet does not forget. CZ said that it is recommended to put the tutorial video back, but does not endorse the token itself. The team member also deleted the private key of the creator address used in the tutorial, which holds 0.13% of the tokens, and no one on the team (or Binance) holds this token. TST is not the official token of the BNB Chain team or anyone, it is just a test token used for the video tutorial. That's all."
Galaxy Digital Founder: Ethereum's Market Sentiment is "Extremely Pessimistic"
Galaxy Digital founder and CEO Mike Novogratz believes Ethereum has failed to keep up with other cryptocurrencies like Bit and Solana, and Novogratz said in an interview: "Ethereum's market sentiment is extremely pessimistic. I think the biggest reason is Gensler's ambiguous definition of ETH, he sued Consensys, is ETH a security or not? So Ethereum has faced some regulatory pressure." When discussing Ethereum's investment narrative and how it differs from Bit, Novogratz said that since former President Donald Trump spoke at the 2024 Bit Conference last summer, Bit has received increasing media attention. He said: "Most of Ethereum's market cap is now about store of value, but what gets people excited about it is the web3 story, the reality of the entire crypto ecosystem is that the story brings enthusiasm, and enthusiasm creates value."
According to Glassnode's analysis, retail-driven on-chain activity in the Asia-Pacific region is growing significantly faster than in the U.S. and EU. Since the December 2022 cycle low, Bit supply in the Asia-Pacific region has grown 6.4% year-over-year, while the U.S. and EU have declined 5.7% and 0.7% respectively, indicating continued strong demand for Bit from retail investors in the Asia-Pacific region.
