News Heat Trend
Project Overview
CASH is a stablecoin platform built for real-world utility, designed to enable businesses to earn a full return on their stablecoin supply. CASH will be accepted by Stripe's global merchant network and available to Phantom's millions of users worldwide.
Bloomberg: SpaceX IPO Becomes Goldman Sachs' "Multiple-Fee" Feast, Advisor Fees Bring in Roughly $100 Million as Client Cash-Outs Further Contribute Hundreds of Millions in Incentive Fees
According to Bloomberg, Goldman Sachs earned hundreds of millions of dollars in incentive fees by helping clients make early investments in SpaceX ahead of its listing this June at a $1.77 trillion valuation. Insiders revealed that more than five years ago, Goldman Sachs had already assisted select high-net-worth clients in investing in SpaceX, when the company's valuation was only tens of billions of dollars. Following SpaceX's listing, Goldman Sachs clients who sold their shares realized massive gains, while simultaneously generating hundreds of millions of dollars in incentive fees for Goldman Sachs.
"The Bitcoin Standard" Author: Other Bitcoin Treasury Companies Struggle to Compete With Strategy, Its Scale and Cash Reserves Provide an Advantage
According to Cointelegraph, Saifedean Ammous, author of The Bitcoin Standard, stated that other treasury companies focused on buying Bitcoin as their core business may struggle to compete with Strategy, noting there is currently no sufficient reason to choose alternative Bitcoin treasury firms over Strategy. Ammous pointed out that Strategy's larger Bitcoin holdings enable it to secure financing at a lower cost, and the company maintains approximately $5.02 billion in cash reserves, which can be used to pay preferred stock dividends and interest on its debt, providing a financial buffer even if Bitcoin experiences a sharper drawdown. However, he also emphasized that investing in Strategy still entails risks, and personally favors holding Bitcoin directly.
Fomo enters top five in U.S. finance apps, surpassing Cash App and Kalshi
Odaily News: Fomo, a social crypto trading app built for Robinhood Chain and other networks, entered the top five finance apps in the U.S. on August 21, briefly climbing to No. 3 and surpassing Cash App and prediction market Kalshi. It currently ranks in the top 15.Founded by Paul Erlanger and Se Yong Park, Fomo launched its public beta in May 2025. In November 2025, it completed a $17 million Series A round led by Benchmark, with participation from 140 angel investors; this was followed by a $75 million Series B round, bringing total disclosed equity funding to approximately $94 million.Fomo supports Solana, Base, BNB Chain, Monad, and Robinhood Chain, allowing users to view real-time trades of people they follow, track leaderboards, and copy trading signals, with instant deposits funded via Apple Pay. Its cumulative installs on Google Play have surpassed 1 million, with over 600,000 users and more than $4 billion in trading volume. (Bitcoin.com News)
Donald Trump earned over $1.4 billion from crypto businesses in 2025, while CLARITY Act identified with five major flaws
Odaily News: On August 5, the minority staff of the U.S. Senate Committee on Banking, Housing, and Urban Affairs stated that the July 22 version of the CLARITY Act fails to meet five minimum standards. The bill, numbered H.R. 3633, aims to divide digital asset regulatory authority between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). The analysis suggests that the bill's two-tier system could remove certain blockchain assets from SEC oversight, allowing issuing companies to self-certify exemptions from securities regulation. Healthy Markets and five labor organizations have raised concerns over pension protections and securities law loopholes, while minority staff also noted that investors' private right of action and state and tribal enforcement powers could be weakened. Minority staff stated that DeFi-related companies could be exempt from anti-illegal financing obligations even if they earn millions of dollars from platform transactions; some crypto mixers may circumvent U.S. sanctions by exploiting the "Tornado Cash loophole." The Independent Community Bankers of America (ICBA) and the Conference of State Bank Supervisors (CSBS) warned that stablecoin yields could drain deposits from community banks, and the Systemic Risk Council has flagged related banking activities as potential bailout risks. Minority staff noted that Donald Trump alone earned over $1.4 billion from crypto businesses in 2025, with related enforcement solely under the purview of his Attorney General, and that obligations would terminate upon his departure from office. Elizabeth Warren and Richard Blumenthal, citing $3.8 billion in investor losses, have separately called on the SEC to investigate Trump memecoin. The Senate is scheduled to hold a cloture vote on September 15 on the motion to proceed, with the bill needing 60 votes to advance. (Bitcoin.com News)
Ark Invest buys $21 million in Block stock and $2.3 million in SpaceX shares
Odaily News Ark Invest, the asset management firm founded by Cathie Wood, disclosed that on August 6, it purchased 267,676 shares of Block stock, valued at approximately $21 million; on the same day, it increased its holdings by 20,318 shares of SpaceX, valued at approximately $2.3 million. Block, formerly known as Square, was renamed by Jack Dorsey in 2021. It has held Bitcoin on its corporate balance sheet since 2020 and offers BTC buy/sell services to retail customers via Cash App. In recent months, Block has also expanded related operations through its Bitkey hardware wallet and its Bitcoin mining hardware division, Proto. SpaceX listed on Nasdaq in June under the ticker SPCX, with an issue price of $135, raising approximately $75 billion and reaching a valuation of nearly $1.8 trillion. Ark's purchase came about two months after SpaceX's listing.
Analysts Support Strategy Increasing Cash Holdings, Saylor Says No Longer "100% Allocating to Bitcoin" in the Future
Odaily News, Strategy Executive Chairman Michael Saylor said at the company's Q2 earnings call that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combined strategy of holding both cash and BTC going forward. He stated, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained their Buy ratings on Strategy following the Q2 earnings call. The two firms believe that the core goal of the company's current management has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.TD Cowen analyst Lance Vitanza said the most important takeaway from the call was management's strong focus on STRC. Company executives repeatedly emphasized that restoring STRC to par value is the core objective, and noted that despite recent price deviations in the security, institutional adoption continues to rise.Benchmark analyst Mark Palmer holds a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99–$100 range, making it once again the primary engine for the company to raise capital and purchase Bitcoin.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
US Regulator Sues CashFX Over $950 Million Crypto Forex Scam
The U.S. CFTC filed a civil lawsuit against Cash FX Group and related individuals, alleging that it used AI and high-return promises to package forex investments, which were actually a Ponzi scheme involving over $950 million.
US CFTC Accuses Cash FX Group of $950 Million Ponzi Scheme, Participants Lost at Least $406 Million
Odaily News: The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Cash FX Group S.A. and its CEO Huascar Jose Lopez Castillo, The Conversion Pros Inc. and its CEO Ronald Pope, and Justin Halladay, alleging that the defendants operated a multi-level marketing Ponzi scheme, raising over $950 million from the public, including in the United States, purportedly for retail forex contract trading.The CFTC stated that the defendants falsely claimed funds were traded by professional traders, proprietary algorithms, and AI, and promised returns of up to 15% per week; in reality, Cash FX conducted only minimal forex trading, and nearly all participant funds were misappropriated, with funds from new participants used to pay fictitious trading profits to other participants, while millions of dollars were paid to the defendants. The CFTC also stated that Cash FX provided participants with false account statements to maintain the illusion of high trading returns, and participants lost at least $406 million. The CFTC is seeking restitution, disgorgement of ill-gotten gains, civil monetary penalties, trading and registration bans, and permanent injunctions against the defendants.
CME Group Plans to Launch BCH Futures on October 19, BCH Briefly Surges 30%
derivatives exchange CME Group has announced that, pending regulatory approval, it will launch Bitcoin Cash (BCH) and Uniswap futures on October 19. The standard BCH contract corresponds to 250 BCH, while the micro contract corresponds to 25 BCH.Following the announcement, BCH briefly surged 30%, breaking above $340 and briefly touching $358, with weekly gains at one point exceeding 50%. Bitcoin SV (BSV) also rose approximately 20% in tandem, approaching its yearly high of $21; Bitcoin fell back to around $84,000 on Wednesday.Digital asset management firm Grayscale has filed to convert its Bitcoin Cash Trust into a spot ETF listed on NYSE Arca. (Decrypt)
Chicago Mercantile Exchange will launch BCH and UNI futures.
The Chicago Mercantile Exchange Group announced that, after receiving regulatory approval, it will launch BCH and UNI futures on October 19. Market participants can choose to trade larger contracts and smaller contracts: BCH Futures (250 BCH) and Micro Bitcoin Cash Futures (25 BCH); UNI Futures (10,000 UNI) and Micro Uniswap Futures (1,000 UNI).
Zcash Foundation denies any association with the "ZRC-20" token standard and the CASH token.
The Zcash Foundation issued a statement indicating it was previously unaware of the details surrounding "ZRC-20" and the CASH token, clarifying that the project is a third-party private initiative and not an official Zcash token standard or protocol feature, and reminded users to conduct thorough due diligence before interacting with any tokens.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
US CFTC Accuses Cash FX Group of $950 Million Ponzi Scheme, Participants Lost at Least $406 Million
Odaily News: The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Cash FX Group S.A. and its CEO Huascar Jose Lopez Castillo, The Conversion Pros Inc. and its CEO Ronald Pope, and Justin Halladay, alleging that the defendants operated a multi-level marketing Ponzi scheme, raising over $950 million from the public, including in the United States, purportedly for retail forex contract trading.The CFTC stated that the defendants falsely claimed funds were traded by professional traders, proprietary algorithms, and AI, and promised returns of up to 15% per week; in reality, Cash FX conducted only minimal forex trading, and nearly all participant funds were misappropriated, with funds from new participants used to pay fictitious trading profits to other participants, while millions of dollars were paid to the defendants. The CFTC also stated that Cash FX provided participants with false account statements to maintain the illusion of high trading returns, and participants lost at least $406 million. The CFTC is seeking restitution, disgorgement of ill-gotten gains, civil monetary penalties, trading and registration bans, and permanent injunctions against the defendants.
LAPTOP Suspicious On-Chain Activity: 2 New Wallets Claim Tokens for Free Then Cash Out $600,000
Odaily News - According to monitoring by crypto trader Rune, an unusual transaction involving LAPTOP tokens has been detected. A new wallet (0x8DA...A18d) claimed 4,276 LAPTOP tokens for free and subsequently sold them, cashing out approximately $400,000.More notably, the wallet then transferred 0.02 ETH to another new wallet (0xc27...b591), which likewise claimed 4,276 LAPTOP tokens for free and immediately sold them after the price dropped due to the previous sell-off, cashing out approximately $200,000.Both wallets are newly created addresses, claimed identical amounts, and the first wallet provided ETH to the second—highly correlated on-chain behavior that has prompted community speculation about potentially linked addresses or coordinated selling.
Binance Alpha 2.0 supports Robinhood Chain and adds multiple new tokens.
Binance Alpha 2.0 now supports trading, deposits, and withdrawals on Robinhood Chain. Limit orders and instant orders currently support USDT pairs. Additionally, Binance Alpha 2.0 has added tokens such as Cash Cat (CASHCAT), up (UP), Artificial Inu (AI), and Pons (PONS).
JaredfromSubway.eth sandwich attack bot has extracted $295 million in total, with $7.5 million stolen in June
Odaily News: The sandwich attack bot operated by JaredfromSubway.eth has extracted a cumulative total of 117,007 ETH since March 2023, worth approximately $295 million at current prices. In June 2026, an anonymous attacker deployed 66 counterfeit token contracts, exploiting the bot's automated trading logic to steal at least $7.5 million in ETH and stablecoins, and funneled the funds into Tornado Cash. The stolen assets have not yet been recovered.Sandwich attacks are a form of Maximal Extractable Value (MEV): the bot monitors large transactions in Ethereum's public mempool, buys ahead of the target transaction, and sells after the transaction pushes the price up, capturing profits from the spread. The bot's primary contract had received a cumulative total of 117,007 ETH as of August 28.MEV-Boost block construction is centralized among a small group of participants, with relay.ultrasound.money, Titan Relay, and bloXroute regulated relays collectively forwarding approximately 85% to 88% of related blocks within a 24-hour window; Titan's builder independently assembled 50.3% of the blocks. Monthly sandwich attack extraction amounts have declined from approximately $10 million in late 2024 to roughly $2.5 million in October 2025. (Bitcoin.com News)
value of 73 BTC, worth $4.6 million, originally came from the Whirlpool coin mixer, with some funds bridged to Ethereum and deposited through a phishing Tornado Cash interface
Odaily News: According to on-chain detective Specter's monitoring, the victim claimed that due to a Coldcard hack, funds were transferred from Bitcoin to Ethereum. However, on-chain data shows that the 73 BTC ($4.6 million) originally came from the Whirlpool coin mixer two weeks ago, with some of it bridged to Ethereum and subsequently deposited through a phishing Tornado Cash interface. Two coin mixers were used during the fund transfer process. The individual was also found to have appeared in Telegram groups involving private key searches and brute-force attacks. On-chain detective Specter stated that the victim may be a threat actor, and their funds may have been stolen by another threat actor.
Drift Hack Victims Begin Redemptions, $3.11M Recovery Pool Pays Out Only About 1 Cent per Dollar
victims of the Drift hack, a perpetual contract exchange on Solana, began filing claims on October 1. The recovery pool's initial funding stands at approximately $3.11 million against nearly $295.4 million in verified losses. Victims can redeem USDT through DFX tokens, with each $1 of loss converting to roughly 1.04 cents at launch, meaning a $1,000 loss corresponds to about $10.40.The total supply of DFX is fixed at 299,500,810.998 tokens, with each token corresponding to $1 of verified loss from the April incident, and no additional tokens will be minted. Holders can choose to burn DFX to redeem USDT, sell on secondary markets such as Raydium, or continue holding their claims. Completed redemptions are irreversible, and unclaimed tokens will expire after the claims window closes on January 1, 2028.Future funding for the recovery pool includes a portion of daily net protocol revenue from Velocity, the rebranded exchange rebuilt by Drift, up to $127.5 million in USDT committed by Tether, $20 million in USDT committed by strategic partners, and recovered stolen assets. On the first Friday after claims opened, approximately 216,480 DFX tokens were redeemed for about 2,250 USDT, with Velocity's first revenue transfer amounting to 31 USDT; approximately 13,025.9 ETH is spread across 4 Ethereum wallets, another approximately 2,309.4 ETH passed through Tornado Cash, and about $9.2 million in assets have been frozen at other addresses. (Bitcoin.com News)
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
Term Labs hacker deposits 960 ETH cumulatively into Tornado Cash, latest deposit 400 ETH
Odaily News: Term Labs hacker deposited 400 ETH into Tornado Cash, bringing the cumulative total to 960 ETH.
Notional Finance custody contract suspected hack, ~$1.7M in assets lost
According to PeckShieldAlert citing Specter's monitoring, Notional Finance's custody contract may have been exploited, resulting in approximately $1.7 million in DAI and USDC losses. The attacker has converted the stolen funds into 689.2 ETH and deposited them into Tornado Cash.
TectonicFi attacker address deposited 2,658.9 ETH into Tornado Cash.
PeckShieldAlert monitoring shows that an address flagged as the TectonicFi attacker has deposited 2,658.9 ETH into Tornado Cash, valued at approximately $6.65 million.
JaredfromSubway.eth sandwich attack bot has extracted $295 million in total, with $7.5 million stolen in June
Odaily News: The sandwich attack bot operated by JaredfromSubway.eth has extracted a cumulative total of 117,007 ETH since March 2023, worth approximately $295 million at current prices. In June 2026, an anonymous attacker deployed 66 counterfeit token contracts, exploiting the bot's automated trading logic to steal at least $7.5 million in ETH and stablecoins, and funneled the funds into Tornado Cash. The stolen assets have not yet been recovered.Sandwich attacks are a form of Maximal Extractable Value (MEV): the bot monitors large transactions in Ethereum's public mempool, buys ahead of the target transaction, and sells after the transaction pushes the price up, capturing profits from the spread. The bot's primary contract had received a cumulative total of 117,007 ETH as of August 28.MEV-Boost block construction is centralized among a small group of participants, with relay.ultrasound.money, Titan Relay, and bloXroute regulated relays collectively forwarding approximately 85% to 88% of related blocks within a 24-hour window; Titan's builder independently assembled 50.3% of the blocks. Monthly sandwich attack extraction amounts have declined from approximately $10 million in late 2024 to roughly $2.5 million in October 2025. (Bitcoin.com News)
Block Integrates Bitcoin Lightning Network into x402 Payment Standard
Odaily News: Payment company Block announced on September 24 that it has integrated the Bitcoin Lightning Network into the x402 payment standard. The x402 protocol can complete verification and unlock data through Lightning Network invoices and payment preimages after a server returns an HTTP 402 payment request.Steve Lee, head of Spiral, Block's open-source Bitcoin research and development division, stated that the integration targets instant, low-cost micropayment use cases. Block has not yet disclosed a timeline for bringing the standard to Cash App, Square, or Bitkey, and the related Python implementation still needs to be tested on real nodes. (Bitcoin.com News)
Zcash Foundation denies any association with the "ZRC-20" token standard and the CASH token.
The Zcash Foundation issued a statement indicating it was previously unaware of the details surrounding "ZRC-20" and the CASH token, clarifying that the project is a third-party private initiative and not an official Zcash token standard or protocol feature, and reminded users to conduct thorough due diligence before interacting with any tokens.
Jack Dorsey: Opposes Governments and Leading AI Companies Deciding the Pace of AI Development
Block CEO Jack Dorsey has expressed support for review, independent evaluation, and planning of frontier AI, but opposes governments and leading AI companies negotiating industry-wide development restrictions.He advocates for an open-release approach that allows outside parties to reproduce results, identify problems, and develop alternatives, and supports providing models, computing power, and public infrastructure to independent researchers and safety researchers.Block is developing open-source AI tools and provides Bitcoin-related services across products including Square and Cash App. The company has also launched the open-source AI agent goose, and is developing Bitcoin mining hardware Proto and hardware wallet Bitkey. (Bitcoin.com News)
Binance Alpha 2.0 supports Robinhood Chain and adds multiple new tokens.
Binance Alpha 2.0 now supports trading, deposits, and withdrawals on Robinhood Chain. Limit orders and instant orders currently support USDT pairs. Additionally, Binance Alpha 2.0 has added tokens such as Cash Cat (CASHCAT), up (UP), Artificial Inu (AI), and Pons (PONS).
Binance Alpha 1.0 has launched CASHCAT, AI, and UP
According to an official tweet from Binance Wallet, Binance Alpha 1.0 added three new tokens on September 4, 2026: Cash Cat (CASHCAT), UP (UP), and Artificial Inu (AI), exclusively accessible to Binance Wallet users.
Fomo enters top five in U.S. finance apps, surpassing Cash App and Kalshi
Odaily News: Fomo, a social crypto trading app built for Robinhood Chain and other networks, entered the top five finance apps in the U.S. on August 21, briefly climbing to No. 3 and surpassing Cash App and prediction market Kalshi. It currently ranks in the top 15.Founded by Paul Erlanger and Se Yong Park, Fomo launched its public beta in May 2025. In November 2025, it completed a $17 million Series A round led by Benchmark, with participation from 140 angel investors; this was followed by a $75 million Series B round, bringing total disclosed equity funding to approximately $94 million.Fomo supports Solana, Base, BNB Chain, Monad, and Robinhood Chain, allowing users to view real-time trades of people they follow, track leaderboards, and copy trading signals, with instant deposits funded via Apple Pay. Its cumulative installs on Google Play have surpassed 1 million, with over 600,000 users and more than $4 billion in trading volume. (Bitcoin.com News)
Related news
Drift Hack Victims Begin Redemptions, $3.11M Recovery Pool Pays Out Only About 1 Cent per Dollar
victims of the Drift hack, a perpetual contract exchange on Solana, began filing claims on October 1. The recovery pool's initial funding stands at approximately $3.11 million against nearly $295.4 million in verified losses. Victims can redeem USDT through DFX tokens, with each $1 of loss converting to roughly 1.04 cents at launch, meaning a $1,000 loss corresponds to about $10.40.The total supply of DFX is fixed at 299,500,810.998 tokens, with each token corresponding to $1 of verified loss from the April incident, and no additional tokens will be minted. Holders can choose to burn DFX to redeem USDT, sell on secondary markets such as Raydium, or continue holding their claims. Completed redemptions are irreversible, and unclaimed tokens will expire after the claims window closes on January 1, 2028.Future funding for the recovery pool includes a portion of daily net protocol revenue from Velocity, the rebranded exchange rebuilt by Drift, up to $127.5 million in USDT committed by Tether, $20 million in USDT committed by strategic partners, and recovered stolen assets. On the first Friday after claims opened, approximately 216,480 DFX tokens were redeemed for about 2,250 USDT, with Velocity's first revenue transfer amounting to 31 USDT; approximately 13,025.9 ETH is spread across 4 Ethereum wallets, another approximately 2,309.4 ETH passed through Tornado Cash, and about $9.2 million in assets have been frozen at other addresses. (Bitcoin.com News)
Bloomberg: SpaceX IPO Becomes Goldman Sachs' "Multiple-Fee" Feast, Advisor Fees Bring in Roughly $100 Million as Client Cash-Outs Further Contribute Hundreds of Millions in Incentive Fees
According to Bloomberg, Goldman Sachs earned hundreds of millions of dollars in incentive fees by helping clients make early investments in SpaceX ahead of its listing this June at a $1.77 trillion valuation. Insiders revealed that more than five years ago, Goldman Sachs had already assisted select high-net-worth clients in investing in SpaceX, when the company's valuation was only tens of billions of dollars. Following SpaceX's listing, Goldman Sachs clients who sold their shares realized massive gains, while simultaneously generating hundreds of millions of dollars in incentive fees for Goldman Sachs.
"The Bitcoin Standard" Author: Other Bitcoin Treasury Companies Struggle to Compete With Strategy, Its Scale and Cash Reserves Provide an Advantage
According to Cointelegraph, Saifedean Ammous, author of The Bitcoin Standard, stated that other treasury companies focused on buying Bitcoin as their core business may struggle to compete with Strategy, noting there is currently no sufficient reason to choose alternative Bitcoin treasury firms over Strategy. Ammous pointed out that Strategy's larger Bitcoin holdings enable it to secure financing at a lower cost, and the company maintains approximately $5.02 billion in cash reserves, which can be used to pay preferred stock dividends and interest on its debt, providing a financial buffer even if Bitcoin experiences a sharper drawdown. However, he also emphasized that investing in Strategy still entails risks, and personally favors holding Bitcoin directly.
SBI Acquires Japanese Crypto Exchange Bitbank in ¥46.7 Billion All-Cash Deal
Odaily reports: Japanese licensed crypto exchange Bitbank has announced that SBI Holdings completed its full subsidiary acquisition of the company on October 1. Following Bitbank's buyback of shares from MIXI and Ceres, all previously planned transactions have been finalized, making Bitbank an indirectly 100%-owned subsidiary of SBI Holdings. The total consideration for the share acquisition and capital increase previously disclosed by SBI was approximately ¥46.7 billion. Bitbank CEO Noriyuki Hirosue will remain in his position. The company stated that existing exchange services will not be affected by the transaction, and that it will further expand its digital asset business by leveraging SBI's financial capabilities, customer base, and resources.
About $295 million in user assets stolen, Drift Foundation says 107,200 ETH still not moved
Odaily News — According to monitoring by the Drift Foundation, the Drift Foundation has released an update on fund recovery progress related to the April 1 security incident: approximately $295 million in user assets were stolen. The foundation has engaged Mandiant, zeroShadow, and SEAL 911 to conduct the investigation and trace the funds, with Mandiant identifying the attacker as the North Korean threat group UNC6862.The stolen funds were subsequently bridged to Ethereum, with approximately 130,300 ETH distributed across 4 wallets. Three of these wallets have seen no transfers to date, collectively holding 107,200 ETH; the other wallet transferred approximately 23,100 ETH to Tornado Cash on July 23.Currently, approximately $9.2 million in stolen funds has been frozen. The relevant funds had previously been transferred through Tornado Cash in August, and unfreezing and return still require cooperation with legal procedures. The Drift Foundation will transfer all assets recovered through freezing, bounties, or law enforcement channels into the DFX recovery pool, and is evaluating the subsequent path of the DRIFT token within the broader ecosystem. In addition, the foundation has partnered with Bybit to launch a public bounty program, offering a 10% bounty on successfully recovered funds.
Block Integrates Bitcoin Lightning Network into x402 Payment Standard
Odaily News: Payment company Block announced on September 24 that it has integrated the Bitcoin Lightning Network into the x402 payment standard. The x402 protocol can complete verification and unlock data through Lightning Network invoices and payment preimages after a server returns an HTTP 402 payment request.Steve Lee, head of Spiral, Block's open-source Bitcoin research and development division, stated that the integration targets instant, low-cost micropayment use cases. Block has not yet disclosed a timeline for bringing the standard to Cash App, Square, or Bitkey, and the related Python implementation still needs to be tested on real nodes. (Bitcoin.com News)