A crypto trader first deposited $11.9 million in USDC into Hyperliquid and opened a highly leveraged Bitcoin long covering 500 BTC, valued at about $39.44 million, according to Lookonchain. The position used 20x leverage and had a liquidation price of $55,570.76.
Later monitoring showed the address opening a $10.27 million BTC long covering 121.23 BTC with 7x leverage. The entry price was $84,918.90, and the position was down about $20,000 at the time. The address’s 7x BTC trade was reported as its first trade on Hyperliquid, indicating a change in the position details or account activity.
The BTC trader’s leveraged position highlights the risks of crypto derivatives. Leverage can amplify gains and losses, while forced liquidation could increase selling pressure and short-term volatility in BTC. Traders should monitor margin levels, liquidation thresholds, funding rates and broader speculative activity on Hyperliquid.
Hyperliquid has recorded its first income from USDC reserves under the AQAv2 mechanism. On 3 October, the AQAv2 treasury wallet paid $14.58 million for USDC reserves held on the platform during the previous 30 days. The funds will go to an assistance fund and be used to buy HYPE.
USDC bridged to Hyperliquid is backed by assets minted by Circle on HyperEVM. The treasury balance is charged daily and settled every 30 days. Coinbase and Circle have each staked 500,000 HYPE. Failure to pay on time could expose Coinbase to a daily penalty equal to 2% of its staked HYPE.
The payment covered 26 August to 24 September, implying an average annualised rate of about 3.14%. At the current reserve level, AQAv2 could generate approximately $193 million in annual revenue. The mechanism expands Hyperliquid’s income beyond trading fees by monetising margin deposits, whether or not those funds are actively traded.
From 1 January to 30 September, Hyperliquid’s open interest rose from $7.72 billion to $16.4 billion, while platform margin increased from $4.34 billion to $7.22 billion. Perpetual futures trading generated about $2 trillion in volume and $493.3 million in fees. Hans estimates total annual revenue could rise from roughly $1.11 billion currently to $2.4 billion by the end of 2030 if stablecoin supply grows 20% a year and Hyperliquid maintains an 8.7% market share.
Lumen Technologies (LUMN) owns a valuable fiber network that could benefit from rising demand for AI infrastructure. However, the company continues to face declining legacy revenue, heavy debt and high capital expenditure requirements. Newer products, including Private Connectivity Fabric and Intelligent Internet, are growing but have not yet fully offset declines in traditional services.
Lumen Technologies trades at about 5.3 times projected adjusted EBITDA, suggesting a discounted valuation. The discount reflects uncertainty over sustainable revenue growth, cash conversion and operating leverage. The company must demonstrate durable cash flow, clearer margin expansion and greater stability in its strategic transition before the investment case strengthens.
The analysis remains neutral on LUMN and recommends waiting for evidence that its AI infrastructure opportunity is translating into recurring shareholder earnings.
Neutral
Lumen TechnologiesAI infrastructureFiber networksTelecomDebt and cash flow
Robinhood executive Johann Kerbrat said the US Securities and Exchange Commission’s five-year innovation exemption for tokenized stocks could constrain the company’s expansion into the US market. The transaction-volume caps may be high enough to affect Robinhood’s existing offshore activity, which Kerbrat described as already substantial.
The SEC framework, issued on 17 September, allows compliant US venues to trade tokenized US equities without registering as exchanges. However, tokenized stocks must provide rights equivalent to the underlying shares, including voting rights. Venues must also notify listed companies, which retain the right to object.
Robinhood’s current Stock Tokens are issued as bonds by a Jersey-based entity and are available in more than 120 countries through Robinhood Wallet, excluding US users. The products track US equities but currently lack voting rights and physical redemption. Robinhood says it plans to add both features, potentially bringing the product closer to the SEC’s requirements.
The comments highlight regulatory and liquidity risks for tokenized stocks. Analysts at TD Cowen have also questioned near-term adoption, noting that US investors already have established access to equities and issuers may see limited benefits from 24-hour blockchain trading. For crypto traders, the news is neutral for the broader market but negative for the short-term outlook of tokenized stocks. Robinhood’s push into crypto perpetuals could become a more immediate trading focus.
Closed-end funds (CEFs) broadly declined through the fourth week of September as rising long-term interest rates pressured valuations and widened discounts. The move has left CEF discounts at more attractive levels, but it also highlights risks for income-focused traders.
XFLT, a loan and CLO equity CEF, launched a tender offer for up to 12.5% of its outstanding shares at a 2% discount. Municipal CEF AFB adopted a managed distribution policy and increased its monthly payout to $0.067. This lifted its NAV distribution rate to about 7.2%, although the higher payout could accelerate NAV erosion if earnings do not support it.
MLP-focused CEF KYN raised its distribution for the third time in 2023. Aberdeen funds MGF and MIN announced reverse share splits after persistent declines in NAV. These actions may improve trading prices and liquidity but do not, by themselves, resolve underlying portfolio weakness.
For CEF traders, the key signals are interest-rate sensitivity, discount widening, distribution sustainability and NAV trends. The report does not contain cryptocurrency-specific developments.
Cronos has approved two tokenomics proposals through a community vote. The Cronos community pool has already burned 228 million CRO, taking total CRO burned to 428 million. Under the approved CRO buyback and burn plan, 100% of revenue from Cronos Ult and Cronos Launch will fund monthly CRO purchases on the open market. The bought tokens will then be burned, with transaction hashes disclosed publicly. Operating, infrastructure and growth costs will continue to be funded by existing resources, while the strategic reserve will support Cronos proof-of-stake staking rewards if declining issuance becomes insufficient. The CRO buyback programme could reduce circulating supply and strengthen CRO’s long-term value-accrual narrative. However, short-term price effects will depend on revenue, purchase size, execution timing and broader crypto market sentiment.
A limited number of US iPhone 18 Pro Max devices connected to AT&T have suffered unexpected network failures. Affected phones show “SOS” and lose calls, text messages, mobile data and, in some cases, access to 911 emergency services. Apple confirmed on 2 October that devices already affected cannot be repaired by software and require a hardware replacement.
Apple and AT&T recommend that all affected-model users install iOS 27.0.1 and the latest carrier settings. These updates are intended to prevent the problem, but they cannot restore service on phones that have already failed. Customers can seek replacements through Apple Support, AT&T or their retail stores.
The issue appears limited to US iPhone 18 Pro Max models using AT&T. Apple has not disclosed the number of affected users or confirmed the root cause. Attention has focused on the Qualcomm Snapdragon X80 modem used in the US model, while international versions, including Taiwan models, reportedly use Apple’s C2 modem. No comparable failures have been reported from other carriers. Users with imported US models should verify the modem and carrier compatibility and keep both iOS and carrier settings updated.
Neutral
AppleiPhone 18 Pro MaxAT&TMobile connectivityHardware replacement
Pump.fun founder Alon has responded to criticism of the platform’s Callout Rewards programme. He said the scheme, launched two months ago to make Pump.fun a highly rewarding trading platform, unintentionally encouraged spam and low-quality content under its V1 design. Pump.fun later revised the rewards algorithm to favour quality over volume. The updated system reduces marginal rewards as users publish more daily callouts. Alon said rewards have been distributed to accounts of different sizes, including large accounts and users with fewer than 10 followers, with no preferential treatment. The future incentive model will focus on helping users discover quality tokens, build trader trust and earn rewards based on trading volume. Alon added that repeatedly posting callouts or exploiting followers to sell tokens is unlikely to generate sustainable returns. The changes could improve content quality and user trust on Pump.fun, although their effect on trading activity and token launches will depend on how effectively the revised algorithm limits manipulation.
Hong Kong’s equity capital markets raised a record $47.5 billion from July to September 2026, according to Bloomberg. The total included initial public offerings, share placements and block trades, lifting 2026 fundraising above $92 billion. Hong Kong is now approaching its full-year record of $112.5 billion set in 2021.
Artificial intelligence was the main driver of the Hong Kong fundraising surge. Zhipu AI raised $4 billion through a July share placement, while AI companies collectively secured $5.8 billion in financing during one week. The funding wave reportedly bypassed traditional Wall Street banks, potentially shifting investment-banking fees towards regional firms and alternative deal structures.
MiniMax Group also raised about $619 million in an IPO earlier in 2026. Goldman Sachs expects Hong Kong equity issuance to potentially exceed the 2021 regional record if strong demand continues through the fourth quarter.
For traders, the record Hong Kong fundraising highlights strong institutional appetite for AI and technology equities in Asia. It may support sentiment around AI-linked stocks and related technology investments, although the market remains sensitive to valuation risks, fourth-quarter deal activity and any slowdown in AI funding.
Neutral
Hong Kong equity marketsAI fundraisingZhipu AIIPOAsian technology stocks
OpenPayd, a London-based stablecoin payments infrastructure company, plans to list on Nasdaq by the end of 2026 through a merger with Titan Acquisition Corp. The proposed transaction would value OpenPayd at about $1.1 billion, with the company expected to trade under the ticker OP. The deal remains subject to regulatory and shareholder approval.
CEO Iana Dimitrova said OpenPayd aims to launch US services by April 2027. The company has added MSB USA Inc. and money-transmission licences covering 43 states, supporting expansion into fiat payments, foreign exchange and stablecoin infrastructure. Listing proceeds and a potential private placement could fund US growth and technology or licensing acquisitions.
OpenPayd reported $73 million in revenue for the year ended 30 April 2026, up from $57 million a year earlier. EBITDA was $13 million, while the company posted a $2.8 million net loss after $5.8 million in one-off merger costs. Its customers include Kraken, B2C2 and OKX, and it has integrated with Circle Payments Network and Fireblocks’ payments network.
The OpenPayd listing could underline rising institutional demand for regulated stablecoin payment infrastructure. However, the OpenPayd listing is not a direct token catalyst, and traders should monitor transaction completion, market conditions and the planned US launch.
Grayscale’s Zcash ETF (ZCSH), the first US spot Zcash ETF, initially attracted strong demand after listing on NYSE Arca on 25 August 2026. It reached more than $500 million in assets within two weeks and recorded about $271 million in cumulative net inflows by mid-September. However, much of its asset growth also reflected ZEC’s price doubling and an approximately $100 million internal share exchange by Grayscale’s parent group, rather than external investor capital alone.
Momentum has since reversed. ZCSH recorded its largest weekly outflow since launch, at $93.56 million. Daily redemptions included $30.25 million on 30 September and $26.93 million on 2 October. Cumulative net inflows fell to about $212.56 million, while assets under management declined from a September peak of roughly $915 million-$979 million to around $751 million in early October.
At its peak, the Zcash ETF held about 3.5% of Zcash’s total supply and represented as much as 32.5% of spot crypto ETF trading volume. Continued redemptions could force the fund to sell ZEC, creating additional short-term selling pressure. The fund’s 2.5% annual fee may also weigh on demand. Grayscale completed a one-for-three forward share split on 30 September, lowering the share price without changing investors’ total value. Traders should monitor ETF outflows, ZEC price stability and post-split liquidity. The Zcash ETF remains net positive since launch, but its shrinking inflow buffer and falling assets under management are bearish short-term signals.
Crypto job postings surged to 1,241 in September, up from 886 in August and 382 in July, according to CryptoJobsList data cited by CoinDesk. The total was more than twice January’s 573 listings and came as the number of hiring companies rose to 125, compared with 77 in August and 107 in July.
Crypto job postings were concentrated in finance, engineering and trading. Stablecoins, artificial intelligence, security and compliance were also major hiring areas. Bitcoin, Ethereum and Solana were the most requested blockchain skills.
Applications moved in the opposite direction, falling from 25,700 in July to 24,631 in August and fewer than 20,000 in September. The divergence may point to tighter talent supply, weaker candidate interest or more specialised requirements. The hiring recovery is a positive signal for crypto infrastructure, finance and compliance firms, but it is not a direct price catalyst for BTC, ETH or SOL. Traders are likely to view the development as neutral unless it is supported by stronger investment, revenue growth or token-specific catalysts.
Andrew Tate deposited 20,950 HYPE tokens, worth about $1.87 million, into Binance, according to blockchain analytics platform Lookonchain. The transfer may indicate a potential sale or portfolio adjustment, although no completed sale was confirmed. Tate reportedly bought 122,827 HYPE tokens at an average price of $4.48 roughly two years ago, investing about $550,000. He still holds 63,550 HYPE, valued at approximately $5.62 million. His total profit on the HYPE investment is estimated at $7.24 million, representing a 1,317% return. Traders may monitor exchange inflows and any subsequent HYPE selling activity for potential short-term price pressure.
Neutral
Andrew TateHYPEBinanceCrypto whaleExchange inflows
Latino Democratic leaders have urged the Democratic Governors Association to invest $10 million in Gina Hinojosa’s campaign for Texas governor. Hinojosa is challenging Republican incumbent Greg Abbott in a closely watched Texas governor race, with recent polls reportedly showing narrow margins.
The funding request signals that Democratic leaders see the Texas governor race as increasingly competitive and believe additional financial support could strengthen Hinojosa’s campaign. Prediction-market pricing cited in the report puts the probability of a Democratic victory at 24.5%, compared with 75.2% for a Republican win.
Traders and political-market participants will focus on the Democratic Governors Association’s response, upcoming polling, voter turnout in key Democratic counties and any changes to Abbott’s campaign strategy. The development could affect political prediction-market prices, but it has no direct operational or fundamental impact on cryptocurrency markets.
Sui v1.82.0 includes a documentation-only update to the project’s README.md file. The change removes outdated information and does not report protocol, validator, full-node, gRPC, JSON-RPC, GraphQL, CLI or Rust SDK changes. No release notes are required unless users are affected by the documentation update. The update is unlikely to alter Sui network performance, token functionality or trading conditions.
Neutral
SuiSui v1.82.0README updateCrypto documentationBlockchain development
The Nasdaq-100 rose 3.3% in September, despite a broad U.S. stock market decline. The Russell 2000 fell 5.3%, the Dow Jones Industrial Average dropped 4.1%, and 78% of S&P 500 stocks ended the month lower. Nine of 11 major sectors also declined.
The Nasdaq rising trend was driven mainly by large-cap technology and communication services stocks. The technology sector gained 4.5%, while communication services increased 4.3%. Strong performance from AI-linked mega-cap companies outweighed weakness across much of the market, highlighting the growing concentration of index gains in a small group of companies.
Higher interest rates intensified the pressure on smaller businesses. The 10-year Treasury yield climbed 54 basis points to 5.29%, its largest monthly increase in four years. Persistent inflation, higher energy prices, tighter monetary policy, and heavy government and corporate borrowing contributed to the rise in yields.
The Nasdaq rising while small-cap stocks declined shows how sensitive different market segments are to interest rates. Smaller companies typically depend more on external financing and face higher borrowing costs. For traders, the divergence signals continued strength in AI and mega-cap technology stocks, but also increased concentration risk and vulnerability if bond yields rise further.
Nvidia’s market capitalisation reached about $5.65 trillion at Friday’s close, while Nike’s value fell to roughly $50.25 billion. The gap of approximately $5.6 trillion highlights a major shift in the US stock market, with investors favouring artificial intelligence infrastructure over traditional consumer brands.
Nvidia reported $96.2 billion in quarterly revenue, up more than 100% year on year. Data Centre revenue rose 117% to $89 billion, while net income reached $59.7 billion. The chipmaker expects revenue of about $108 billion in the next quarter. Nvidia now represents more than 8% of the S&P 500.
Nike reported quarterly revenue of $11.2 billion, down 4% year on year. Weakness in Greater China, Nike Sportswear and the Jordan Brand continues to pressure the company. Nike shares have fallen to about $33.87, near a 12-year low, and are down more than 50% over the past year.
The contrast between Nvidia and Nike reflects diverging growth expectations, consumer demand and operating conditions. It also highlights concentration risk in major stock indexes as Nvidia and other AI stocks drive market performance. For traders, Nvidia’s earnings momentum supports the AI and semiconductor trade, but its extreme valuation may increase sensitivity to disappointing guidance, slowing data-centre spending or changes in interest-rate expectations.
Blockchain analytics firm Chainalysis has attributed the $387 million Bitget hack on 24 September to North Korea-linked actors. The attribution adds to earlier assessments from Bitget CEO Gracy Chen and Elliptic that the Democratic People’s Republic of Korea was likely responsible.
Chainalysis said the theft pushed crypto stolen by North Korea-linked groups in 2026 above $1 billion. Within three hours, the attackers moved the funds through 23 transfers across Ethereum (49.7%), XRP (40.8%), Zcash (7.6%) and Tron (1.8%). They then used cross-chain liquidity and messaging protocols, instant swaps and laundering services to conceal the trail.
The attackers converted tens of millions of dollars in XRP into Bitcoin through a cross-chain liquidity protocol. Some funds were also moved into Zcash’s shielded pool and later transferred to attacker-controlled Bitcoin addresses.
Chainalysis said its in-house artificial intelligence tools reduced more than 20 hours of manual bridge reconciliation to under 10 minutes. However, the firm stressed that investigators remained responsible for directing the analysis.
The Bitget hack has triggered wider scrutiny of crypto infrastructure. Near Intents rejected more than $50 million in related swaps, while THORChain continued processing transactions. Circle and Tether froze about $318,000 in stablecoins. For traders, the case highlights continued North Korea-linked hacking risks, cross-chain laundering activity and the potential for rapid freezes or heightened compliance checks.
Bearish
Bitget hackNorth Korea crypto theftChainalysisCross-chain launderingCrypto security
Bitcoin price has retreated after failing to hold gains above $87,000, falling about 1.7% in 24 hours to roughly $84,575. The decline follows a pullback from the September high near $87,400 and places Bitcoin near the key $84,012 Fibonacci retracement level.
Bitcoin price support is concentrated around $82,000–$83,000, with a key short-term level near $82,362–$82,600. A sustained break below $82,000 could weaken the bullish structure and expose the $80,900–$81,000 area, close to the 20-day moving average. Holding support could allow a rebound towards $85,000–$85,500. A move above the recent $87,220–$87,400 high could open a path towards $88,000–$90,000, although substantial sell orders remain overhead.
Technical momentum has weakened. The daily RSI is still positive at 60.69 but has fallen below its moving average. The four-hour Awesome Oscillator has printed a red bar, while the four-hour ADX previously showed a weak trend. Daily Chaikin Money Flow remains slightly positive. CoinGlass liquidation clusters around $83,500, $85,100, $86,000–$86,400 and $87,700 point to potential volatility on both sides of the market.
US spot Bitcoin ETF demand has also cooled. Funds recorded about $2.39 billion in net inflows during the September 21–25 trading week, but later posted a combined $51.5 million net outflow from September 28–30 after daily inflows had approached $1 billion on September 21. Higher Treasury yields and volatile oil prices added to macroeconomic pressure. Traders are now focused on whether Bitcoin can defend $84,012 and the lower $82,000 support zone. The outlook remains range-bound unless price breaks key support or resistance.
Neutral
Bitcoin priceBTC technical analysisBitcoin ETF flowsCrypto liquidationsBTC support and resistance
Bitcoin is trading near $84.7K after recovering from the $60K area and breaking above $75K, creating a pattern of higher highs and higher lows. The main resistance zone is between $86K and $88K. A daily close above $88K could open a path towards the next major resistance near $96K.
On the short-term chart, Bitcoin is consolidating inside a range between approximately $82K and $86K. A break below $82K could expose the broader $74K-$78K support zone, while a breakout above $86K would strengthen the bullish case. The $66K area remains a deeper support level.
Bitcoin futures taker CVD has turned green, showing renewed aggressive buying. However, continued buying beneath resistance could be absorbed by sellers if BTC repeatedly fails to clear $86K-$88K. Traders are therefore watching $86K on the upside and $82K on the downside for the next directional signal.
The Independent Community Bankers of America has sued the US Office of the Comptroller of the Currency in federal court over crypto trust charters. Filed in the District of Columbia, the lawsuit claims the OCC exceeded its authority by approving or conditionally approving national trust bank charters for cryptocurrency companies.
The ICBA argues that crypto firms receive the credibility of a federal bank charter without meeting requirements imposed on insured banks. These include Community Reinvestment Act obligations, consolidated supervision, capital and liquidity standards, and FDIC insurance. The group is asking the court to require the OCC to remain within its statutory limits.
Crypto trust charters allow firms to provide certain digital-asset custody, trust and related services. They do not allow companies to accept deposits or issue loans like conventional commercial banks. The OCC had not commented when the latest report was published. Earlier approvals under President Donald Trump and Comptroller Jonathan Gould have increased scrutiny from community banks.
The case could affect US crypto regulation, institutional adoption and the competitive position of digital-asset firms. However, the crypto trust charter dispute concerns regulatory authority rather than a specific cryptocurrency. Traders should therefore expect limited immediate price impact. XRP and the wider crypto market may remain neutral in the short term, while the ruling could influence long-term institutional access and regulatory clarity.
NEAR Intents has recovered all $3.8 million stolen in a security breach involving its Omni deposit and withdrawal infrastructure. The protocol initially paused services after detecting a bug linked to its smart contract and pledged to fully compensate affected users.
General manager Alex Shevchenko said the exploiter returned the funds after NEAR Intents identified them and issued a 48-hour ultimatum under a responsible-disclosure arrangement. Blockchain investigator ZachXBT had reported that the assets moved through KuCoin before being bridged to Bitcoin.
NEAR Intents said the investigation is complete and urged attackers to use bug bounty programmes rather than disrupt services. The recovery reduces immediate user and selling-pressure risks. However, the NEAR Intents breach continues to highlight smart-contract, cross-chain and exchange-related security risks.
Neutral
NEAR IntentsCrypto security breachSmart contractsCross-chain infrastructureCrypto hack recovery
Citi has raised its 12-month Bitcoin price target to $113,400 from below $82,000, implying about 35% upside from Bitcoin’s current price near $83,900. The bank cited stronger crypto market activity, renewed US spot Bitcoin ETF inflows, improving macroeconomic conditions, clearer regulation and rising institutional demand.
Citi expects about $5 billion to flow into crypto markets over the next year as financial advisers and brokerages increase Bitcoin allocations. Although the US Senate’s failure to advance the CLARITY Act initially pressured sentiment, subsequent announcements from the SEC and CFTC helped limit the impact.
The bank also raised its target for Strategy, a major corporate Bitcoin holder, to $240 from $136 and maintained a buy rating. Strategy shares have recovered to about $160 after falling below $100 during the summer. Citi estimates that Bitcoin appreciation could generate 34% of the company’s projected upside, while a higher market-to-net-asset-value premium could contribute another 16%.
Earlier market signals also pointed to Bitcoin holding higher support levels after leveraged positions were cleared. Ethereum’s Glamsterdam upgrade is scheduled to reach the Sepolia testnet on 6 October, adding parallelised processing and enhanced access lists. Traders should monitor Bitcoin ETF flows, institutional accumulation, derivatives positioning, Federal Reserve policy and regulatory developments. Strategy provides more leveraged and volatile Bitcoin exposure, while the wider market remains sensitive to macroeconomic shocks.
Global gold ETF holdings reached a record 4,189 tonnes in August after physically backed funds attracted $18 billion, the second-largest monthly inflow on record. Assets under management rose 16% to $615 billion.
North American funds recorded $7.7 billion in inflows, while European-listed funds attracted a record $7.9 billion. Asian funds added another $2 billion. Renewed demand coincided with a 13% monthly increase in the gold price, supported by concerns over US debt, Treasury-market stress and broader macroeconomic uncertainty.
The World Gold Council said gold ETF holdings rose by 121 tonnes during the month. The surge lifted gold ETF holdings above all previous historical peaks and highlighted stronger institutional demand for the precious metal.
The People’s Bank of China bought 20.2 tonnes of gold in August, its largest monthly purchase since October 2023. China’s official gold reserves have now increased for 22 consecutive months to 2,387 tonnes, with gold accounting for roughly 9% of its foreign-exchange reserves.
Chinese physical demand remained weaker. Shanghai Gold Exchange withdrawals fell 22% month on month and 27% year on year to 62 tonnes. However, Chinese gold ETFs added 11 tonnes, suggesting that central banks and institutional investors, rather than jewellery buyers, are driving demand. Record gold ETF holdings may reinforce the metal’s appeal as a hedge against sovereign debt and economic uncertainty.
Malaysia is intensifying its crackdown on illegal Bitcoin mining and electricity theft. In the latest operation on 23 September, authorities raided a farm disguised as an abandoned “haunted house” in Bukit Beruntung, Selangor. Officials found Bitcoin mining machines, extensive wiring and industrial cooling equipment across four shop lots. The equipment was confiscated, the premises were sealed and electricity was disconnected. Authorities did not disclose the number or value of the machines, although images appeared to show AvalonMiner units.
Earlier enforcement actions also targeted unauthorised Bitcoin mining. Police in Seri Iskandar detained two men and seized 30 mining machines after allegedly finding an illegal electricity connection. Similar raids in Tronoh and Terengganu uncovered 73 and 45 machines respectively. Malaysia recorded 13,827 locations linked to illegal electricity-powered crypto mining between 2020 and August 2025. Tenaga Nasional Berhad reportedly suffered 4.57 billion ringgit in losses during that period, while an earlier estimate put losses from illegal Bitcoin mining at more than RM440 million between 2020 and 2023.
The Bitcoin mining crackdown is unlikely to have a material short-term effect on Bitcoin’s global price. However, continued enforcement could raise operating costs, pressure unauthorised miners to shut down or relocate, and reinforce regulatory risks for mining businesses in Malaysia.
The TRUMP meme coin will hold its third holder dinner on 22 November at Trump National in Virginia, with US President Donald Trump and three unnamed guests expected to attend. The top 185 registered TRUMP holders will qualify based on a time-weighted score that rewards larger balances and longer holding periods. The final ranking snapshot will be taken on 12 November at 1 p.m. Eastern time.
The top 29 holders will receive VIP access, while the four highest-ranked participants will receive 18-karat gold Trump watches. Organisers said the event will not include private meetings or meet-and-greet sessions with Trump. The first TRUMP holder dinner, held in May 2025, drew criticism over concerns that token ownership could be linked to political access.
The latest event follows a failed key Senate vote on the Clarity Act. Restrictions on Trump’s crypto interests were reportedly among the main obstacles in negotiations. Trump’s latest financial disclosure showed more than $635 million in 2025 income from the TRUMP meme coin, mainly from licensing royalties, and more than $1.2 billion in total crypto-related income.
TRUMP was trading near $2.04, with a market capitalisation of about $576 million. The TRUMP meme coin has fallen more than 97% since its January 2025 launch. The dinner could create short-term publicity and speculative buying, but political scrutiny, regulatory uncertainty and the token’s prolonged decline remain significant risks for traders.
In Episode 69 of HODLong, host Mable Jiang interviews trader and investor Ogle about crypto trading, investment research and risk management. Ogle says meaningful investments should be based on revenue, real users and value flowing back to token holders. He recommends researching founders, incentives, distribution and whether a business model can survive over time.
The discussion also covers position sizing, liquidity risk and opportunity cost. Ogle describes a “sleeping size” as a position large enough to matter but small enough to hold without emotional stress. He advises traders to reduce exposure when a key part of the investment thesis fails and to avoid staying on the “wrong train” simply because of ego or sunk costs.
The episode highlights the importance of seeking evidence that disproves an investment thesis, assessing business moats and staying detached from social-media performance. Ogle also discusses how user experience, partnerships, timing and access to capital can determine whether crypto projects succeed. The central message is that crypto trading often involves competing against one’s own emotions, overconfidence and need for public validation.
The episode is educational and not investment advice. The program notes that Mable Jiang or guests may hold positions in projects discussed.
Wallet login is becoming a common way to access crypto casinos. Instead of using an email and password, players connect MetaMask or another compatible wallet, approve the connection and, in some cases, sign a message proving ownership of the address. A signature does not transfer funds, but token approvals and deposits can move assets, so traders and users should review every wallet prompt carefully.
Wallet login simplifies registration and deposits, but it does not remove regulatory requirements. Licensed operators may still request identity checks, while email verification can remain necessary for bonuses. Losing access to a wallet or its private keys can also mean losing access to the casino account.
The article compares seven platforms that support MetaMask or compatible wallet routes: Dexsport, BC.Game, 1win, Shuffle, Rollbit, Rainbet and MetaWin. Dexsport supports six wallet options and offers more than 7,500 games, a sportsbook and stablecoin prediction markets. BC.Game supports MetaMask through WalletConnect and accepts more than 100 cryptocurrencies. 1win supports MetaMask, Trust Wallet and WalletConnect across EVM networks and TRON. Shuffle combines casino and sportsbook services and supports the SHFL token. Rollbit adds crypto futures trading, while Rainbet supports MetaMask, Solana wallets and social logins. MetaWin focuses on a fully wallet-based experience but has a narrower game selection.
Wallet login improves convenience but does not change gambling risks, country restrictions, KYC or AML obligations. Users should check local laws, platform terms and transaction details before connecting a wallet.
Web3 casino tokens are being used as payment assets, staking instruments, loyalty tools and mechanisms for buybacks or token burns. Their value remains closely tied to the performance of a single gambling platform, creating significant volatility, liquidity, regulatory and platform-specific risks.
The article highlights five Web3 casino tokens. Dexsport’s DESU runs on BNB Chain and has a maximum supply of 1 billion tokens. It supports cashier deposits, locked staking, referrals, contests and lotteries, and has been reviewed by CertiK and Pessimistic. Rollbit’s Ethereum-based RLB uses buybacks funded by 10% of casino revenue, 20% of sportsbook revenue and 30% of futures revenue, with most repurchased tokens burned. Shuffle’s SHFL has a 1 billion maximum supply, with weekly buybacks, burns and a USDC lottery for locked-token holders. BC.Game’s Solana-based BC Engine links staked tokens to hourly USD-pegged payouts funded by platform and partner revenue. BetFury’s BFG focuses on rewards for users who lock tokens.
Casino tokens may attract traders seeking platform-linked yields or deflationary mechanisms, but revenue payouts and burns can decline when platform activity weakens. Traders should verify liquidity, contract activity, token listings, local gambling regulations and reward funding before taking positions. Casino tokens should also be kept separate from a personal gambling budget.
Neutral
Web3 casino tokensCrypto gamblingToken stakingBuyback and burnCrypto trading risks