Flash News

TREE NEWS reports: Hyperliquid’s cumulative protocol revenue surpassed $1.4 billion as of October 7. Native perpetuals contributed $1.2 billion, or 88.7%, spot brought in $50.1 million (3.6%) and HIP-3 perpetuals $29.2 million (2.1%), with the rest from auctions, USDC reserve yield and HyperEVM gas. More than $1.26 billion has been used to buy back HYPE.

TREE NEWS reports: Plasma’s stablecoin supply has nearly doubled since July to $1.41 billion, its highest level since mid-February, after a year of sustained declines. The figure remains well below the chain’s $5.2 billion peak around its listing, but the data suggests competition among stablecoin-focused chains is not settled.

TREE NEWS update: Ledger said it is investigating thefts from users in Southeast Asia who bought devices through reseller CryptoBilis, and has told the reseller to halt sales and shipping. On-chain sleuth Specter traced more than $86 million in losses across hundreds of wallets on Ethereum, TRON and Bitcoin; CryptoBilis has paused hardware-wallet sales in Malaysia, the Philippines and Indonesia.

TREE NEWS reports: Roughly $3.55 million in unclaimed bridge funds were moved using EIP-7702 account authorizations, security firm BlockSec said. The transactions carried valid account authorizations, but BlockSec said they do not establish whether the wallet owner knowingly approved the transfers. The incident involves funds that had not been claimed on a bridge.

TREE NEWS reports: Tron records show roughly 2 million USDT from the Ledger theft was converted into USDD through the stablecoin’s stability module, a route that sits outside Tether’s freeze controls. Bitquery estimates Tether has frozen about $10 million across the wider cluster of stolen funds. The conversion moves part of the proceeds into a stablecoin whose issuer has not blacklisted the addresses.

TREE NEWS reports: Starknet’s STRK token rose 30%, outpacing bitcoin and ether, as the network weighs a shift to a Layer 1 design. Daily trading volume on Starknet’s decentralized exchanges climbed to about $33.7 million during the rally.

TREE NEWS update: Unichain said it will migrate to OP Enterprise to prepare for native cross-chain interoperability on the OP Stack. Once interoperability goes live, users will be able to move assets between OP Stack chains without a bridge, starting with ETH. The testnet migration is scheduled for October 13, with the mainnet migration planned for late October.

TREE NEWS reports: The U.S. Department of Justice is reviewing whether Binance has complied with its 2023 settlement with U.S. authorities, focusing on transactions that may have violated U.S. sanctions on Iran after the deal. The review, led by the Manhattan federal prosecutors’ office and the DOJ Criminal Division, involves a Hong Kong entity accused of helping move payments for Iranian oil sales. Binance said it has zero tolerance for sanctions violations; it pleaded guilty in 2023 and agreed to pay over $4.3 billion.

TREE NEWS update: Coinbase and Gennius plan to give users access to the ONED stablecoin through banks in Latin America, starting in Argentina. Under the plan, customers can convert eligible deposits into ONED USD, enabling round-the-clock transfers and spending via Visa.

TREE NEWS reports: Coinbase and Gennius plan to enable users to access the ONED stablecoin through banks in Latin America, starting with Argentina. Under this plan, customers will be able to convert eligible deposits into ONED USD, enabling 24/7 transfers and payments via Visa.

TREE NEWS update: Aero published token conversion terms for the Aerodrome-Velodrome merger, which begins Oct. 21 at 8 p.m. ET, when emissions on both legacy platforms stop. Existing AERO converts 1:1 to new AERO, while each VELO converts to about 0.044 AERO, applying to both circulating and locked tokens. Aerodrome holders get 94.5% of the new supply and Velodrome holders 5.5%; conversions are not automatic and self-custody assets must use the upgrade portal.

TREE NEWS reports: Nuvacore, a six-month-old microchip startup with no product on the market, is raising several hundred million dollars at a valuation of about $2.5 billion to develop a new central processing unit for data centers. Demand for CPUs has surged as AI workloads grow, with the chips acting as traffic controllers for Nvidia’s AI processors and running autonomous AI software known as agents. The round is not yet closed and terms may change.

TREE NEWS update: Coinbase and Gennius are planning an Argentina-first initiative that would let customers convert eligible bank deposits into ONED USD and transfer the stablecoin around the clock, spending it through Visa. The plan links Latin American banks to stablecoin access, with the two firms positioning ONED USD as a bridge between deposits and round-the-clock digital transfers.

TREE NEWS reports: Kalshi is examining three wagers of about $19, $74 and $80 placed before reports named Katie Zacharia as Trump’s press secretary pick, the Wall Street Journal reported. The contract has since settled Yes, but it remains unclear whether the individual accounts face withdrawal restrictions.

TREE NEWS update: Sui said SlushWallet has simplified first-time funding, letting users deposit into Sui via bank card or assets from 25 chains. Bridging and swapping can now be completed inside SlushWallet itself.

TREE NEWS update: Aero will launch its merger on Oct. 21, with AERO converting one-for-one and VELO at roughly 0.044 new AERO per token. Existing lock positions retain their remaining duration under the conversion terms.

TREE NEWS reports: A Chainlink noncirculating supply wallet (Noncirculating Supply 13) transferred about 2.725 million LINK, worth roughly $34.85 million, to a Binance deposit address at 05:07 Beijing time on October 10. Earlier the same day, multiple Chainlink noncirculating supply wallets sent about 11.4 million LINK to Binance in four transactions between 03:53 and 04:35, bringing the day’s total to about 14.125 million LINK, valued at roughly $180 million.