Flash News

TREE NEWS reports: Crypto futures liquidations across exchanges totaled $393 million in the past 24 hours, with short positions accounting for $276 million and longs $117 million, CoinGlass data shows. Bitcoin liquidations reached $171 million and Ether $87.77 million. The largest single liquidation, worth $11.73 million, occurred on Binance’s BTCUSDT contract.

TREE NEWS reports: An unknown wallet unstaked 956,610 SOL, worth about $115.62 million, at 23:01 Beijing time on October 2. The tokens were released from staking in a single transaction, moving roughly $115.6 million in SOL out of the staking contract.

TREE NEWS update: Pons has entered V3 mode, founder Ozzy said on October 2. V2 contracts will remain unchanged, and V3 applies only to new token launches, so tokens issued on V1 or V2 are unaffected. Whether V3 tokens use a bonding curve will be decided by each creator.

TREE NEWS update: Blast is shutting down its Layer 2 network, citing unsustainable costs. About $63.5 million remains in the protocol’s canonical bridge. Users have until Oct. 26 to withdraw through the normal interface, with contract-based withdrawals continuing after that deadline.

TREE NEWS update: Blast announced it is winding down operations, saying the cost of maintaining the chain now exceeds the revenue its L2 generates and that no credible path to economic sustainability exists. The network told all users to withdraw assets, including balances in the Blast PWA, to Ethereum mainnet, and said withdrawal delays will be cut to 24 hours. Blast will first withdraw its Lido assets, a process expected to take about a week, during which withdrawals will be temporarily unavailable.

TREE NEWS reports: Jeffrey Huang, known as Machi Big Brother (@machibigbrother), closed 10 consecutive winning trades on PUMP over the past five days for a cumulative profit of $1.34 million. His current long positions stand at 33,950 ETH ($92.56 million), 409 BTC ($35.22 million) and 180,000 HYPE ($16.16 million).

TREE NEWS update: Lido announced an update to its EarnUSD fee model, cutting fixed costs and tying fees more closely to vault performance. The previous 1% management fee plus 10% performance fee is replaced by a cap of 0.5% management fee plus 20% performance fee, with launch pricing set at 0.2% management fee and 15% performance fee. Lido said the lower management fee reduces the cost of holding EarnUSD in low-yield environments, while the higher performance fee better aligns fees with actual returns. Fees will be displayed transparently on the EarnUSD vault interface.

TREE NEWS reports: A heated debate has erupted over the handling of $387.7 million in funds hacked from Bitget, centering on whether “permissionless and decentralized” technology should ever be intervened in, even when intervention is possible. The dispute pits the THORChain and NEAR ecosystems against each other over core ideals.

TREE NEWS update: NEAR Intents was hacked for $3.8 million, with the team responding rapidly by compensating users and fixing the bug within one hour. The exploit and the speed of the remediation have prompted debate over whether the incident could be viewed as bullish given the swift reaction.

TREE NEWS update: Aave founder Stani Kulechov said he is disappointed with the European Central Bank and European Banking Authority’s responses to the MiCA consultation, which propose banning yield on stablecoin payments and restricting crypto asset service providers from offering users DeFi access. The proposals would also use suitability tests to limit which users can access DeFi and consider a certification regime for DeFi lending protocols without specifying an enforcement framework. Kulechov said regulators deciding which protocols suit European users could create closed ecosystems and weaken liquidity and network effects.

TREE NEWS update: THORChain has launched a ZEC liquidity pool after completing a node rotation, with all nodes now monitoring the Zcash chain. The protocol said trading will be enabled in the next step, warning that liquidity is currently thin and early trades face slippage risk. THORChain had previously added native Zcash support in a protocol upgrade, including UTXO handling, RPC logic and a ZEC price oracle.

TREE NEWS update: Solana perpetuals exchange Drift has opened recovery token claims for users who lost more than $290 million, awarding one DFX per USDT lost. The token is redeemable for about a cent at launch, drawn from a pool that grows with the rebuilt exchange’s daily revenue.

TREE NEWS update: The co-authors of EIP-8363 have withdrawn their Ethereum staking reward burn proposal from the Hegota upgrade, arguing that Ethereum’s issuance policy needs a dedicated process outside fork planning. Lido has offered to help lead that separate effort. The proposal would have burned a portion of staking rewards, and its backers now want the question handled on its own track rather than bundled into the fork’s agenda.

TREE NEWS update: Crypto custodian Copper has rolled out institutional trading for Hyperliquid perpetual contracts, letting clients execute trades through an API and platform interface while keeping assets in its non-custodial MPC infrastructure. The service gives institutions direct exposure to the decentralized perpetuals exchange without moving collateral out of Copper’s custody setup.

TREE NEWS update: A third-party adapter exploit drained about $305,000 from two Safe multisig wallets, Aave founder Stani Kulechov said. Kulechov stated that Aave v3 was unaffected by the attack, which targeted the external adapter rather than the lending protocol itself.

TREE NEWS reports: Some 30,500 BTC options with a notional value of $2.63 billion expired on Oct. 2 at a put-call ratio of 1.07 and a max pain of $82,000, while 116,000 ETH options worth $320 million expired at a put-call ratio of 1.17 and a max pain of $2,660, Greeks.live researcher Adam said. BTC rebounded on the delivery day, with large bullish option block trades active and the price ranging around $85,000 for over a week.

TREE NEWS update: Utexo, a Tether-backed infrastructure project, plans to issue USDT on the Bitcoin network this month, bringing the nearly $190 billion stablecoin back to the chain where it launched in 2014 on the Omni protocol. Utexo, founded in 2025, raised $7.5 million earlier this year in a round led by Tether and holds a commercial license to issue USDT on Bitcoin. The project supports private transfers and direct conversion to BTC.

TREE NEWS update: Hyperliquid is expected to receive its first AQAv2 reserve yield distribution on Oct. 3, with roughly $14.5 million in passive yield generated from USDC reserves flowing into the Assistance Fund. The funds will be used to buy back HYPE.

TREE NEWS update: SMBC Nikko Securities said on October 2 that it signed a memorandum of understanding to develop “DeFi Gateway,” a decentralized finance platform for Japanese investors. Partners include blockchain developer Nethermind, Uniswap Labs, the Nyx Foundation, and Coinbase Technologies, which operates the Ethereum Layer 2 network Base. The project will develop a liquidity provision protocol and proprietary liquidity pools compliant with Japanese law, with development targeted for completion by mid-2027.