Flash News

TREE NEWS update: Crypto wallet provider Tangem launched its first physical Visa card, limited to an initial 5,000 units, supporting in-store and online payments plus ATM withdrawals, with users able to top up directly from a self-custodial wallet. Over 40% of Tangem Pay payments come from Latin America and over 30% from the US. The card cannot ship to about 20 countries and regions, including China, Russia, North Korea and Palestine, and offers 1% USDC cashback for Basic users and 2% for Plus users.

TREE NEWS reports: NEAR co-founder Illia Polosukhin said users no longer need centralized exchanges for “a lot” of crypto activity, pointing to expanding onchain tools. He argued the need for centralized trading venues is shrinking as onchain infrastructure matures.

TREE NEWS update: Multichain DEX Jumper said its JUMP token sale drew about $48.61 million in commitments from 9,690 participants, more than 24 times its initial $2 million target, with $3 million ultimately accepted. Community wallets received $1.64 million, roughly 55% of the total allocation, weighted by Jumper Loyalty Pass tier and rank. Strategic contributors are the second-largest category, and 5% goes to Republic participants.

TREE NEWS reports: Hyperliquid’s HIP-4 prediction market has recorded $317 million in cumulative volume since launching May 2, 2026, roughly 1,400 times smaller than Kalshi’s $59.3 billion September volume. Only three external venues have staked the required 500,000 HYPE to list markets, and HIP-4’s average September volume equalled about 70 cents per $1,000 traded on Kalshi and Polymarket. Total protocol fees run about $1,300 a day.

TREE NEWS update: World Liberty Financial said at Token2049 Singapore that it plans to connect its USD1 stablecoin to large online businesses, partnering with payments infrastructure provider Mesh. Mesh co-founder and CEO Bam Azizi said USD1 holders will be able to use the stablecoin across its merchant network, with a launch planned this quarter. USD1, issued by BitGo and backed by cash and US government money market funds, has a market value of about $4.45 billion.

TREE NEWS reports: Hyperliquid co-founder and CEO Jeff Yan said at Token2049 Singapore that Wall Street’s traditional wealth-creation model is unsustainable for most participants, since assets such as company stocks usually open to the public only after listing, leaving retail investors out of pre-IPO gains. Yan said Hyperliquid’s main goal is broadening wealth-creation opportunities and financial participation, with revenue a byproduct rather than an optimization target. Hyperliquid generated $72 million in revenue over the past 30 days, ranking third among DeFi protocols.

TREE NEWS reports: Hyperliquid’s CEO said Wall Street’s early wealth-creation opportunities remain inaccessible to most retail participants, calling the model unsustainable for the majority. He said the platform’s perpetual contracts are intended to democratize access to those markets. The comments were made in a statement published by the CEO.

TREE NEWS update: Gate founder and CEO Dr. Han announced the launch of Gate Money during a keynote at TOKEN2049 on October 7. The unified finance app links digital assets, fiat, stocks, ETFs, gold, bank accounts, payments and asset management in one account, covering holding, receiving, transfers, payments, conversion and yield. Users can access it by updating the Gate App to v8.39.0; USDT and other balances can earn up to 3.6% with no lock-up.

TREE NEWS update: Jito’s JTX unit plans to launch a mobile app this fall and add an equities feature and perpetual futures later this winter, expanding beyond spot trading on Solana. The roadmap extends the Jito-linked venue’s product line into new asset classes and derivatives on the Solana network.

TREE NEWS reports: Bitcoin fell 2.3% in two hours to drop below $84,000, triggering roughly $550 million in crypto liquidations. The move came amid suspicion over the appearance of leveraged BTC short positions on Hyperliquid. The decline marks a sharp intraday drawdown for the largest cryptocurrency.

TREE NEWS update: Ledger unveiled a Crypto Loan feature at TOKEN2049 Singapore that lets users borrow stablecoins against wrapped Bitcoin, powered by Morpho. Private keys and final transaction approval stay on the user’s hardware device, so holders can access liquidity without selling their BTC.

TREE NEWS reports: The total number of stablecoin holders worldwide has surpassed 300 million. BNB Chain added nearly 13 million stablecoin holders in the third quarter, the largest increase among major public blockchains, while Celo, TRON and Solana each added more than roughly 2 million. As of the end of September, BNB Chain had become the public blockchain with the most stablecoin holders.

TREE NEWS update: Hyperliquid founder Jeff Yan said at TOKEN2049 on October 7 that options will be the platform’s next major product focus. Traders will be able to use options on the same order book to hedge spot and perpetual futures positions, he said.

TREE NEWS reports: Ethereum’s active validator count fell 2.5% over the past seven days to about 863,000, even as total staked ETH rose 0.08% to 43.74 million. The decline is tied mainly to validator consolidation after the Pectra upgrade, which raised the maximum effective balance per validator from 32 ETH to 2,048 ETH. About 507,000 ETH sits in the consolidation queue, with an estimated wait of roughly 5 days 11 hours.

TREE NEWS update: World Liberty Financial co-founder Zak Folkman said at TOKEN2049 that WLFI plans to extend its payment technology to unnamed Web2 companies with billions of users, which could be used to pay drivers, contractors and creators. Folkman gave no timeline or names for the partners.

TREE NEWS reports: Bitcoin briefly fell below $84,000, triggering $487.2 million in long liquidations over the past 24 hours. Total crypto liquidations reached $555.6 million in the same period, with long positions accounting for the bulk of the damage.

TREE NEWS update: Igloo Inc., the parent company of Pudgy Penguins, announced on Oct 6 that its Ethereum L2 network Abstract will wind down operations and close its mainnet on Dec 15, leaving any unmigrated on-chain assets inaccessible. The company said it absorbed tens of millions of dollars in losses over 18 months despite 400,000 users, 4 million wallets and 144 apps. Igloo secured over $11 million from a Founders Fund-led round in July 2024.

TREE NEWS update: Navra has closed an oversubscribed $19 million Series A round led by Ribbit Capital, with Baseline and DCM participating and Jump Crypto and Figure Technology Solutions joining as strategic investors. The platform connects users to multiple blockchain venues through a single interface, linking directly to DeFi yield protocols and cash rails, and offers keyless self-custody meeting qualified custody requirements plus a built-in AI agent. Its institutional version adds enterprise team management and full audit trails.

TREE NEWS update: THORChain co-founder Chad Barraford said he will raise with THORChain’s Treasury the idea of returning some of the developer fund’s income earned from the Bitget hack back to the exchange. Barraford made the comments on Unchained. No figure or timeline for any refund was given.

TREE NEWS update: Coinbase added short-dated up-or-down contracts on bitcoin, ether and eight other tokens to its prediction markets on Tuesday. Kalshi lists the contracts and already runs the same 15-minute markets on its own exchange.