Flash News

TREE NEWS reports: South Korean regulators have blocked access to Polymarket, a crypto-based prediction market, labeling it as illegal gambling. The move highlights growing regulatory scrutiny on prediction platforms in the region.

TREE NEWS reports: Tom Lee’s Bitmine has purchased $18.9 million worth of ETH over the past week, increasing its holdings to over 4.81% of the total ETH supply. This significant accumulation highlights growing institutional interest in Ethereum.

TREE NEWS reports: A Shanghai court has clarified criminal liability for ‘traffic’ fraud involving virtual currencies, stating that participants may be found guilty as accomplices to fraud or for illegally using information networks. The ruling provides legal guidance for similar cases in China.

TREE NEWS update: Search interest in prediction markets has fallen 83% from its peak during the World Cup, according to data. Kalshi currently leads in trading volume among prediction platforms.

TREE NEWS reports: Upbit and Bithumb, South Korea’s largest crypto exchanges, reported about a 50% decline in first-half revenue amid a continued contraction of the Korean crypto trading market. The drop reflects reduced trading volumes and heightened regulatory pressures, signaling a challenging environment for local exchanges.

TREE NEWS reports: Decred has identified a security vulnerability and recommends users temporarily halt voting and mining activities. The team is working on a fix and will provide updates. This measure aims to protect the network and its participants.

TREE NEWS update: Multiple users have reported that their HTX accounts were frozen after making small deposits, prompting the exchange to confirm it is investigating the issue. The incidents have raised concerns among users about account security and the exchange’s handling of such matters.

TREE NEWS reports: DGrid AI has released the tokenomics for its $DGAI token, allocating 50% for node network operations and node incentives, and 8% for airdrop rewards. The remaining tokens are designated for other purposes such as team, treasury, and ecosystem development.

TREE NEWS update: HyperliquidNews announced on X that the cumulative trading volume of HIP-3 has exceeded $525 billion. This milestone highlights the growing adoption and liquidity of the Hyperliquid platform.

TREE NEWS reports: Bitcoin’s $57,000 price level is identified as a critical liquidation point for leveraged long positions, with thin liquidity potentially amplifying sell-offs. The market faces increased volatility risk as a drop below this threshold could trigger cascading liquidations.

TREE NEWS update: Bitcoin’s $57,000 level is a critical liquidation point for leveraged long positions, and thin liquidity could amplify liquidation-driven selling. Despite downside risks, BTC shows resilience and a potential inverse head-and-shoulders pattern keeps the bullish case alive.

TREE NEWS update: Neynar, the current operator of decentralized social protocol Farcaster, has initiated a search for a new home and operating team for Farcaster, Clanker, and related products, admitting failure to meet initial goals. The move marks the second transition in under seven months, highlighting challenges in consumer-facing growth and sustainable operations.

TREE NEWS update: The Ethereum Foundation has warned that the upcoming Glamsterdam upgrade could cause failures in certain wallets, indexers, and gas estimation tools. Developers are advised to prepare for potential compatibility issues ahead of the network change.

TREE NEWS reports: The Ethereum Foundation warned that the upcoming Glamsterdam upgrade will adjust the gas model, potentially breaking wallets, indexers, and gas estimation tools that rely on hardcoded maximum gas limits. Developers are urged to test on the Plataberget testnet. The upgrade includes EIP-8037, which introduces a separate State Gas dimension for new state operations.