Flash News

TREE NEWS update: THORChain technical co-founder Chad Barraford said Tether temporarily froze the network’s USDT vaults and then unfroze them without explanation. Barraford, who also goes by the pseudonym Pluto, disclosed the incident publicly. Tether has not commented on the freeze.

TREE NEWS update: NEAR Protocol is weighing a draft plan that would lower its maximum annual token issuance from 2.5% to 1.6%, cutting both dilution and staking rewards. The proposal comes as NEAR has gained 83% over four weeks, outpacing bitcoin and ether. No timeline for a vote or implementation was given.

TREE NEWS reports: The suspected hacker behind the Ledger reseller CryptoBillis exploit has moved 430.2 ETH, worth about $1.07 million, into Tornado Cash via four wallets. After Tether froze related funds, the hacker is converting USDT to USDD through SUN.io and USDD’s PSM, with some funds sent to a Binance hot wallet. The Arkham-flagged address still holds roughly $70.6 million, including 11,406 ETH, 213.37 BTC, 13.65 million USDD and 10.91 million USDT.

TREE NEWS update: Ostium has proposed giving hacked liquidity providers equity stakes as part of a Stage 2 compensation plan. The plan pairs a pro-rata claim on recovered funds and half of Ostium’s opening fees with an optional equity allocation priced at the company’s next round. The percentages remain unset, and holders have until Oct. 30 to elect.

TREE NEWS update: Tether has blacklisted four of THORChain’s six USDT vaults on the TRON blockchain, freezing roughly 1.45 million USDT. The four vaults, holding 93% of THORChain’s TRON assets, were blacklisted in a single block at TRON block 86958330. THORChain was not hacked, but TRON swaps on the protocol have been paused; Barraford said there was no prior communication from Tether and the team is reaching out, calling the move unprecedented.

TREE NEWS reports: Crypto futures liquidations across exchanges totaled $609 million over the past 24 hours, with long positions accounting for $431 million and shorts $178 million, CoinGlass data shows. Bitcoin liquidations reached $171 million and Ether $188 million. The largest single liquidation, worth $19.98 million, occurred on a HYPERLIQUID-ETH-USD contract.

TREE NEWS update: Tether removed four Tron addresses from its USDT blacklist at 15:30 UTC, three hours after freezing them, with balances intact, and THORChain has restarted Tron trading, deposits and signing. The 19 other wallets frozen in the same sweep remain blacklisted.

TREE NEWS update: GMGN has opened registration for the first season of its Global Trading Tournament, with qualifiers running online from October 17 to 27 (UTC). Traders compete with no more than $2,000 of their own capital across a Solana wallet and an EVM wallet, ranked by realized P&L on a live on-chain leaderboard. Six traders advance to a London final, and the overall champion wins a limited-edition Aston Martin Vantage (GMGN #001).

TREE NEWS reports: Hyperliquid’s largest long position holder holds $320 million in long positions across 10 addresses, with an unrealized gain of $8.77 million. The positions comprise 1,400 BTC and 82,000 ETH, with BTC opened at an average of $75,967 and ETH at $2,493. The trader has booked $117 million in cumulative profit this year from multiple long rounds.

TREE NEWS update: Pyth DAO has approved a “100% Rule” that directs the protocol’s share of product revenue into PYTH buybacks, replacing monthly votes with a single standing authorization. The change follows a decline in monthly purchases from about 2.75 million PYTH in March to 669,662 in August.

TREE NEWS reports: Standard Chartered has begun publishing research on Ethena, forecasting that USDe supply will grow roughly eightfold from about $5 billion today to $40 billion by the end of 2028. The bank set ENA price targets of $0.42 by year-end, $1.10 in 2027 and $2 by end-2028. Ethena’s fee switch, which triggers buybacks of ENA once USDe supply tops $7.5 billion, has not yet activated.

TREE NEWS reports: Trader AguilaTrades saw a portion of his Bitcoin short liquidated after first closing a BTC long at a $331,000 loss, on-chain tracker Lookonchain reported on October 9. He then flipped short, opening a 200 BTC position at 40x leverage worth about $16.35 million. The latest screenshot shows 40 BTC liquidated at roughly $82,706.8, a position worth about $3.31 million.

TREE NEWS reports: A newly created wallet received 110,000 HYPE, worth $9.73 million, from another wallet and immediately staked the entire amount, on-chain tracker Onchain Lens reported on October 9. The transfer and full staking of the tokens occurred in the same transaction flow.

TREE NEWS reports: A trader with a 100% win rate and $9.26 million in total profit opened a 20x leveraged long on 12,000 ETH, worth $29.88 million, after the market decline. The position, held by address 0x2371, is currently showing an unrealized gain of $626,000.

TREE NEWS update: Polymarket has begun charging fees on market orders for geopolitical events, while limit orders remain free. The platform’s documentation has not yet been updated, with the fee parameter for geopolitical events still listed as zero. The change was visible on Polymarket trading pages.

TREE NEWS update: Polkadot has launched dotUSD, a stablecoin backed by USDT, following an OpenGov governance decision. The token currently has a total supply of about 2.77 million, and DOT-backed borrowing is planned for a later phase.

TREE NEWS reports: Abstract’s planned Dec. 15 shutdown offers no independent exit for roughly $17.1 million in ETH bridged to the network. Withdrawals of that canonically bridged ETH will depend on operators rather than a permissionless path, and the wind-down plan sets out no independent exit after Dec. 15.

TREE NEWS update: Aave has listed a December AUSD principal token on Monad with a 93% borrowing limit, and the new reserve has already filled its 30 million-token supply cap. Aave shows $29.67 million supplied against that cap.

TREE NEWS update: HyperEVM-based synthetic perpetuals protocol Papertrade has opened pre-deposits, with users given two days to fund accounts and create profiles. The protocol said formal trading is expected to start about one hour after the HyperEVM network upgrade completes on Oct. 10, with the exact time to be confirmed via Hyperliquid’s Discord. Papertrade uses Hyperliquid order-book BBO midpoint pricing, offers high leverage with zero slippage and no funding fees, and its PAPER token starts with zero supply.