Flash News

TREE NEWS update: Ledger confirmed that at least one affected user’s device contained an unauthorized hardware implant, and said it is investigating with authorities and SEAL_911. Hardware wallet reseller CryptoBilis has suspended sales of all hardware wallets. Ledger said there is no indication its internal security infrastructure, systems or services were breached, and advised users who bought devices from CryptoBilis and have not set them up to hold off, while those already set up should move bitcoin to a new hardware wallet using a newly generated seed phrase.

TREE NEWS reports: Papertrade traders lost $18.2 million, while staking rewards on the platform reached $12.6 million. The staking payouts equaled roughly 69% of net trading losses, but the rewards redistribute funds to PAPER stakers rather than reimbursing each individual losing trader.

TREE NEWS reports: Papertrade traders have accumulated a net loss of $18.2 million, while platform staking rewards over the same period totaled approximately $12.6 million, equivalent to about 69% of the net trading losses. These rewards are distributed to PAPER stakers rather than proportionally compensating every losing trader.

TREE NEWS update: Papertrade traders lost $18.2 million, while staking rewards on the platform reached $12.6 million. Staking payouts equaled roughly 69% of net trading losses, but the rewards redistribute funds to those who stake PAPER rather than reimbursing each trader who suffered losses.

TREE NEWS reports: Binance said bitcoin bottomed at 21:20 UTC and the depeg event began at 21:36, after which CZ dismissed related accusations as “far-fetched.” Ethena and Dragonfly’s Haseeb Qureshi said the timeline does not add up, while Star Xu said bitcoin fell first and leveraged loops amplified the drop.

TREE NEWS reports: Oct. 10 marks the largest single day of liquidations in crypto’s recorded history, with more than $19 billion wiped out. A year ago to the day, bitcoin had just set an all-time high of $126,000, with Standard Chartered projecting it would reach $200,000. The liquidation figure is the highest on record for the industry.

TREE NEWS reports: Synthetic perpetual DEX Papertrade.xyz, built on Hyperliquid’s HyperEVM, has attracted $118 million in deposits, with TVL at $118 million and leverage of up to 1000x. As of 11:45 a.m. ET on October 10, its 2,349 positions showed about $11 billion in open interest backed by only $54 million in collateral. The platform charges no slippage, funding rate, spread or traditional notional trading fees.

TREE NEWS update: The CFTC proposed a rule that would expressly classify event contracts tied to sports, politics, culture and weather as swaps, while an interim rule excludes casino-style gambling from that definition. The move sharpens the agency’s claim to exclusive jurisdiction over prediction markets.

TREE NEWS reports: Papertrade’s dashboard showed $10.3 million in staker rewards hours after the 1000x-leverage venue launched. The same dashboard listed roughly $5 million in its house pool and no queued payout debt, with trading losses funding the PAPER rewards.

TREE NEWS update: Papertrade’s dashboard showed $10.3 million in staker rewards just hours after the 1000x leverage exchange launched. The same dashboard listed approximately $5 million in the house pool, with no pending payout liabilities, and trading losses are covering PAPER rewards.

TREE NEWS reports: Papertrade’s dashboard showed $10.3 million in staker rewards just hours after the 1000x leverage exchange launched. The same dashboard listed roughly $5 million in the house pool with no pending payout liabilities, with trading losses covering PAPER rewards.

TREE NEWS update: A Bermuda-based life insurer that runs entirely on Bitcoin has raised $37.5 million, the company said. The round was led by existing backer Bain Capital Crypto, alongside other existing investors. The insurer, which counts Sam Altman among its backers, said it drew the funding after a record year driven by demand from wealthy families in Asia, Europe and the Middle East.

TREE NEWS update: Multicoin Capital co-founder Kyle Samani said his largest personal angel investment to date has gone to Backpack. On September 2, Backpack announced that Samani has joined the board of Backpack US. The crypto exchange said the appointment reflects a shared view that the future of global finance combines institutional-grade risk controls with the efficiency and transparency of on-chain markets.

TREE NEWS update: Security researcher Cyberscrilla warned on October 10 that a fake website and app impersonating hardware wallet brand Ledger appeared prominently in Google search results to trick users into entering their 24-word recovery seed phrase, drawing over 1 million visits in the past 30 days. The warning follows a September Zscaler investigation into malicious Google ads imitating Ledger, and comes as Ledger probes an estimated $86 million in suspected wallet thefts affecting customers of Southeast Asian reseller CryptoBilis.

TREE NEWS reports: Crypto futures liquidations across major exchanges totaled $82.578 million over the past 24 hours, with $38.32 million in long positions and $44.26 million in shorts, CoinGlass data show. Bitcoin liquidations reached $7.10 million and Ethereum $7.37 million. The largest single liquidation, worth $3.79 million, occurred on HYPERLIQUID-XYZ:INTC-USD.

TREE NEWS reports: Security researcher @cyberscrilla has flagged a fake Ledger website and app appearing at the top of Google search results, designed to trick users into revealing their 24-word recovery phrases. Google data shows the site drew over 1 million visits in the past 30 days. The warning comes as Ledger investigates a suspected wallet theft affecting customers of Southeast Asian reseller CryptoBilis, with losses estimated at $86 million.

TREE NEWS reports: Spot ether ETFs extended their outflow streak to nine consecutive days, while Solana funds snapped a record 14-week run of inflows. Spot bitcoin ETFs also logged weekly outflows over the same period, marking a broad shift across the three fund categories.

TREE NEWS update: Spot Ethereum ETF outflows extended to a ninth consecutive trading day, while Solana funds ended a record 14-week streak of net inflows over the same period. Spot Bitcoin ETFs also recorded weekly outflows last week, with all three fund categories turning negative in tandem.

TREE NEWS reports: Papertrade drew a reported $3 billion in positions within its first hour of operation. DefiLlama tracked $137.1 million in trader balances and house liquidity combined, a fraction of that notional figure. Those funds are not all available to pay winning trades.

TREE NEWS reports: Hedge funds’ net exposure to the Magnificent 7 US tech giants has climbed to a record 22%, surpassing the previous peak of 21% set on June 21, 2024, and up 7 percentage points from July, data from Hupzy (Spot On Chain) shows. The level compares with just 8% at the 2022 bear-market bottom. The crowded positioning could trigger a sharp reversal and hit S&P 500 perpetual futures, with weaker risk appetite also weighing on bitcoin.