Flash News

TREE NEWS update: Guoke Photonics (Haining) Technology Co., Ltd. announced the completion of a Series B+ financing round of hundreds of millions of yuan. The round was led by Sichuan Science and Technology Innovation Investment Group, with participation from Hangzhou Caitai Capital and Shandong Science and Technology Innovation Group. Proceeds will fund development of next-gen silicon photonics products, expansion of its data communications subsidiary, and overseas delivery centers.

TREE NEWS update: Hyperscale Data has closed its Michigan bitcoin mining operations to convert the site into an AI data center, with all miners powered down and equipment slated for sale. The company said a client has signed a 20 MW AI compute contract for 10 years (with two 5-year renewal options), expected to generate over $1.2 billion in revenue over 20 years, and an additional 32 MW option could push potential revenue above $3 billion. To fund the transition, Hyperscale sold bitcoin, cutting its holdings from about 1,006 BTC at end-July to 215 BTC (down ~79%), ranking 84th among public companies. Shares fell about 17% Wednesday to $0.1984, a post-split record low.

TREE NEWS update: Ledger is facing a class action lawsuit over its December 2023 data breach, filed today. Plaintiffs allege the company downplayed the severity and failed to disclose the incident timely, exposing customer names, emails, and phone numbers that ended up on the dark web. The suit cites a 2020 breach of 270,000 customers, calling the pattern ‘egregious’ and accusing Ledger of negligent and reckless security practices.

TREE NEWS update: Russia’s September 1 law on digital currencies only partially took effect, covering cross-border transfers, while domestic crypto trading remains on hold pending key regulations. The central bank said all necessary documents should be ready by early December. Market participants note infrastructure is largely prepared, with Sberbank planning to complete its digital custodian by December 1 and Finam expecting to offer services in early 2027. Central bank governor Nabiullina said transfers abroad are unrestricted but warned investors that foreign operations lack Russian legal protection.

TREE NEWS reports: On Sept 2, memecoin JINQIAN surged to an $80 million market cap within an hour on Robinhood Chain, then plunged to $10 million the next hour, now near $3 million. The token paired with FAMI, a non-official token tied to Nasdaq-listed Farmmi, which rose 300% intraday. The scheme’s promoter Rune later claimed his stock purchase post was AI-generated. Analysts say the short-squeeze narrative was flawed as no real stock buying occurred.

TREE NEWS update: US Attorney General Todd Blanche said on X that cybercriminals launched password reset attacks against hundreds of thousands of X users this week. X successfully blocked the attacks to prevent account hijacking, and the DOJ is working closely with X to track down the attackers.

TREE NEWS update: Hyperscale Data has ended its Bitcoin mining operations in Michigan, with its BTC holdings falling about 79% since late July to 215 BTC. The company is redirecting capital toward its Michigan AI data center.

TREE NEWS update: A Michigan court has ordered Kalshi to continue blocking sports prediction markets, converting a temporary restraining order from June into a preliminary injunction. Violations would incur a fine of $500,000 per day. The ruling keeps the prediction market platform from offering sports event contracts in the state pending further legal proceedings.

TREE NEWS reports: Ethereum spot ETFs recorded a net outflow of $48.0764 million on Sept. 2 (EST), the first outflow after 12 consecutive days of inflows. BlackRock’s Staked ETH ETF (ETHB) led with a net inflow of $52.9147 million, bringing its historical total to $758 million. 21Shares’ TETH saw $2.0267 million in inflows, with a historical total of $22.8026 million.

TREE NEWS reports: Bitcoin spot ETFs recorded a net inflow of $101 million on Sept 2, with BlackRock’s IBIT leading at $115 million, bringing its historic total to $63.485 billion. Grayscale’s Bitcoin Mini Trust BTC followed with $30.42 million, raising its historic net inflow to $2.897 billion.

TREE NEWS update: The CFTC has filed to dismiss CME’s lawsuit challenging its crypto perpetual futures rules, arguing CME lacks standing because it is free to list perp futures as a designated contract market. The CFTC called the suit ‘much ado about nothing.’

TREE NEWS reports: A two-person arbitrage team revealed they earned $10 million in profit over 10 months by trading stock perpetuals on Hyperliquid’s HIP-3 against IBKR, with $32 billion in combined volume. The strategy, detailed in a post, weathered a $1.1 million loss from a data glitch. They now face competition from institutions like Ethena.

TREE NEWS update: Thailand’s Securities and Exchange Commission has finalized its cryptocurrency “travel rule,” requiring digital asset operators to identify senders and receivers of every transaction from February 27, 2027. Operators must implement transfer risk policies, collect customer and counterparty identity data, and retain records for at least five years. Non-compliant transfers will be prohibited. The rule, aimed at combating money laundering and terrorist financing, aligns Thai standards with FATF recommendations, including verifying user control over self-custody wallet funds.

TREE NEWS update: Ethereum Layer 2 network Silicon announced it stopped accepting new bridge deposits on Sept 2 and initiated shutdown, requiring users to withdraw all assets by Dec 31, after which the network and block explorer will go offline and remaining assets will be unrecoverable. Approximately $9.75 million in assets remain on-chain, including USDC ($2.66M), WBTC ($2.54M), ETH ($2.08M), and USDT ($1.85M). Assets bridged from Ethereum mainnet can be withdrawn directly, but tokens issued on Silicon cannot be bridged and rely on on-chain liquidity, which may dwindle.

TREE NEWS update: SEC Chair Paul Atkins said in a Fox Business interview that the CLARITY Act will be voted on in the Senate on September 15, expecting passage and presidential signature, making the US the ‘global crypto capital.’ He noted regulators are advancing rules to modernize for blockchain and crypto assets. Despite the vote delay, SEC and CFTC continue crypto policy work, with the SEC submitting a crypto custody framework proposal to the White House last week.

TREE NEWS update: A Michigan court has issued a preliminary injunction against Kalshi, ordering the prediction market to continue blocking state residents from accessing sports event contracts. The injunction, effective September 3, converts a temporary restraining order from June into a formal ruling, with violations subject to a $500,000 daily fine.

TREE NEWS reports: World Liberty advisor ogle (@cryptogle) turned $4,997 into $5.4 million, a 1,080x return. He bought 10.607 million PONS tokens when its market cap was $470,000, now worth $5.4 million. He currently holds 10.9 million PONS, valued at $5.58 million.

TREE NEWS reports: Garrett Jin has closed 276 BTC ($21.5M) of his long position, realizing a $210,000 profit. He still holds 1,592 BTC ($123.92M) with an unrealized gain of $1.18M. However, having held the position for over three months, he has paid $1.94M in funding fees, leaving him in an overall loss.

TREE NEWS update: Solana completed its first binding on-chain governance vote on Aug 27-28, passing SGP-0001 (Constitution) and SGP-0002 (double deflation) but rejecting SGP-0003, a fee reform to increase SOL burns. The deflation proposal passed narrowly at 67% support, while the burn proposal failed due to high abstention. The vote marked a shift to stake-weighted voting under the new SGP framework.

TREE NEWS update: Colombian fintech Plenti has raised $3 million in seed funding, led by Tether with participation from Verda Ventures. The funds will support its expansion into Peru and Bolivia. Founded in 2022, Plenti offers multi-currency accounts for freelancers and remote workers, enabling them to hold dollars, euros, and pesos, earn yield, and invest in US stocks, ETFs, digital gold, and crypto. It serves over 150,000 active users, processing over $3.1 billion annually and handling over 680 million USDT since 2023.