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Project Overview
Market is a decentralized money market protocol that provides instant liquidity and leverage on assets. Market aims to simplify the lending process for communities by separating the risk of each collateral type.
Anchorage Digital Cuts 17%: Dragged Down by Market Conditions, Trimming Approximately 68 Positions
Anchorage Digital has reportedly cut 17% of its workforce, affecting approximately 68 positions, primarily due to the downturn in the cryptocurrency market. Despite these downward pressures, the company secured a $100 million strategic investment from Tether.
UBS: S&P 500 P/E Ratio Down 17%, Fed's Path Determines Future Market Outlook
According to Chaoxiang Research, in a research report dated September 28, 2026, UBS noted that the S&P 500's forward P/E ratio has declined 17% from its November high last year, while the 10-year US Treasury yield has increased by approximately 100 basis points year-to-date to 5.2%, placing it roughly 80 basis points above its one-year moving average. Over the past four decades, the 10-year US Treasury yield has exceeded 1.5 standard deviations only seven times. Current market pricing implies that the Federal Reserve will implement rate hikes totaling approximately 88 basis points over the next year, falling just short of the 100-basis-point threshold. UBS maintains that the Fed's path of rate hikes will determine the direction of equity markets. Historical precedent indicates that when rate hikes surpass 100 basis points within a year, the S&P 500 yields negative returns after twelve months; conversely, following moderate rate hikes, the index averages a 17.7% gain over the same period. Current pricing more closely mirrors a moderate tightening scenario. The valuation model suggests an implied upside potential of roughly 21% for the S&P 500. In terms of asset allocation, investors are advised to focus on high-growth, low-valuation sectors, including semiconductors, pharmaceuticals, refining, and diversified banks.
Bonk Guy: Crypto Market May Be Nearing a Turning Point; If Bullish on Q4, Investors Should Actively Buy the Dip
well-known trader Bonk Guy posted that the crypto market may be nearing a turning point. In a worst-case scenario, it could still experience several more weeks of decline or consolidation before potentially entering a sustained rally. He believes that if investors are highly bullish on a token's performance in Q4, the current risk-reward ratio favors actively buying the dip; if a token is expected to break a $1 billion market cap, then the difference between buying at a $20 million or $25 million valuation may not matter much.Bonk Guy also stated that the biggest risk right now is missing the next rally due to the bearish sentiment on Crypto Twitter (CT). He advised against paying too much attention to 1-minute candles and suggested buying the dip and reducing short-term trading.
Morgan Stanley Becomes Strategic Partner of NEXTPredict, Will Explore Institutional Capital Entering Prediction Markets
According to Decrypt, Morgan Stanley has become a strategic partner of New York Prediction Market Summit NEXTPredict and will host discussions on institutional capital entering prediction markets at the event scheduled for October 22–23. Pierre Lindh, co-founder of NEXTPredict, noted that this marks the first time a bank has publicly engaged in events within this sector. The session will be moderated by Stephen Grambling, Head of US Gaming, Hotels & Leisure Research at Morgan Stanley, focusing on the opportunities for institutional funds to enter prediction markets, along with market structure and risk considerations. Currently, around 90% of liquidity and trading volume in prediction markets remains concentrated in sports contracts, though some financial institutions are beginning to explore its potential applications in market forecasting, internal forecasting, and corporate risk hedging. Morgan Stanley previously also took part in Kalshi’s $1 billion Series F funding round completed in May this year.
Polymarket's "OpenAI valuation will reach $975 billion by September 30" probability rises to 63%, up 30% in 24 hours
PPP prediction market tool monitoring shows that Polymarket's "OpenAI valuation will reach $975 billion by September 30" probability has risen to 63%, up 30% in 24 hours.If, as of September 30, 2026, OpenAI's private market valuation as published on the Nasdaq Private Market has reached or exceeded $975 billion, it will settle as "Yes"; otherwise, it will settle as "No."If OpenAI completes an IPO or direct listing during this period, the listing pricing and post-listing public market capitalization will also be taken into account. Subsequent revisions to historical data by NPM are generally not counted, unless they are corrections of obvious data errors.Join the PPP signal push community to stay one step ahead and seize the advantage.
Hashed anchors $300 Million Digital Asset Private Credit Fund
Odaily News: The fund was founded by Abu Dhabi-based investor and Further Ventures co-founder Mohamed Hamdy, with Thoro Capital Management serving as the manager and Mohamed Hamdy as Managing Partner. Thoro Capital Management will settle in USD via stablecoins and lend directly to digital asset institutions, with Hashed as the anchor investor. The fund employs a covenant-based underwriting approach, assessing borrowers' financial condition, cash flow, and management performance, aiming to alleviate the financing issues caused by traditional banks' regulated capital requirements and crypto lenders' reliance on asset-collateralized underwriting. Tokenized private credit has become the largest real-world asset (RWA) category by cumulative on-chain lending volume, with total loans exceeding $14 billion, while the traditional private credit market exceeds $3 trillion. Previously, Hashed obtained a financial services permission from the Abu Dhabi Global Market and signed a memorandum of understanding with the Abu Dhabi Investment Office.
LAPTOP drops 98% within one hour of launch, market maker-related trades net over $2.1 million in profit, Hunter Biden denies team cashed out
Odaily News: According to Hunter Biden monitoring, Hunter Biden, son of former U.S. President Biden, posted the independent investigation results of the LAPTOP token launch incident, stating that he had commissioned forensic firm Groom Lake to verify all transactions on the day of launch. He denied that the team cashed out, saying that the founder tokens remain concentrated in the same wallet and have not been transferred since launch; his personal tokens have been locked for six months and will then be released over two years. He cited the investigation as saying that Market Maker 1 had $500,000 in startup capital, but only injected about $5,200 and fewer than 30,000 tokens into the liquidity pool, with the latter accounting for only 0.003% of the total supply. Extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, then fall 98% within one hour. Eighty-four seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,200 to zero. He said Market Maker 1 made about $686,000 in profit from its DEX position, while Market Maker 2 netted more than $2.1 million from related DEX trades, and argued that the market makers responsible for the launch problems should buy back and burn tokens. He said he bears ultimate responsibility, will not exit the project, and plans next week to burn most of the unclaimed tokens from the first airdrop; that airdrop accounted for 10% of the total supply.
Crypto PAC Fairshake Announces Midterm Election Endorsement List, All 32 House Candidates Previously Supported the CLARITY Act
According to Cointelegraph, the crypto political action committee Fairshake, backed by Coinbase, Ripple Labs, and Andreessen Horowitz, announced it will fund 32 House candidates in the 2026 U.S. midterm elections, including 19 Republicans and 13 Democrats. As an initial round, Fairshake will contribute $1 million each to the campaigns of six of these candidates, totaling $6 million. All 32 candidates previously voted in 2025 to advance the Digital Asset Market Clarity Act (CLARITY Act). The bill had earlier failed to pass a crucial procedural vote in the Senate, and its subsequent progress remains uncertain.
CFTC Proposes Federal Regulatory Framework for Retail Crypto Leveraged Trading, Plans to Create New "Crypto Asset Market" Category
Odaily reports: The U.S. Commodity Futures Trading Commission (CFTC) on Monday initiated a rulemaking process aimed at establishing a unified federal regulatory framework for leveraged and margin spot trading of crypto assets for retail customers.The CFTC is considering establishing a new "Crypto Asset Market" registration category through two sets of rules: Regulation CTX and Regulation CAM. Qualifying crypto trading platforms would be able to offer leveraged and margin spot trading to retail users under CFTC oversight, subject to unified federal regulatory standards.This framework would provide an alternative compliance pathway for crypto exchanges currently operating under state-level licenses. However, the CFTC has made clear that without congressional authorization, the regulator cannot force all crypto asset trading onto CFTC-registered platforms.CFTC Chairman Michael Selig stated that this move is an important step toward continuing to make the United States the "crypto capital of the world," and said American investors need clearer rules, regulatory certainty, and consumer protection.Overall, the CFTC is attempting to use its existing authority to first establish a federal framework for retail crypto leveraged trading, rather than waiting for Congress to pass comprehensive market structure legislation. If ultimately implemented, U.S. crypto exchanges could for the first time gain a nationally unified regulatory pathway for retail leveraged spot trading, though the CFTC's mandatory jurisdiction over the entire crypto spot market still depends on congressional legislation.
SEC Chair: More Crypto Regulations Coming to Keep Market in the US
Odaily reports: US Securities and Exchange Commission (SEC) Chair Paul Atkins stated that the SEC will continue advancing regulation of cryptocurrencies and digital securities, and will introduce more rules to ensure the digital asset market stays in the United States.On October 2, Paul Atkins said the SEC's proposed crypto asset custody regulatory framework aims to update rules established in 1940 that only apply to traditional asset custody and safekeeping. The move comes after the US Senate failed to pass the CLARITY Act last month.He noted that the framework is part of the SEC's efforts to build a comprehensive crypto asset regulatory system starting in 2025, following earlier proposals including Regulation Crypto Assets and the Innovation Exemption, the latter of which would establish a 5-year sandbox allowing US equities to be traded on decentralized exchanges and with liquidity providers.John Reed Stark, former head of the SEC's Office of Internet Enforcement, believes the regulatory push exceeds the SEC's authority and bypasses congressional power. Paul Atkins stated that more regulatory proposals are coming and that he will continue to assist President Trump in promoting the US as the global capital of cryptocurrency. (Bitcoin.com News)
Senate fails to pass Crypto Clarity Act, regulatory process faces a reset
The U.S. Senate failed to advance the Digital Asset Market Clarity Act, with the retirement of key lawmakers making it impossible to revive this 635-page bill, backed by both Wall Street and the crypto industry, before the end of the year, leaving the crypto regulatory framework facing a complete reset.
US Senate Fails to Advance the Digital Asset Market Clarity Act
the U.S. Senate recently failed to advance the 635-page Digital Asset Market Clarity Act (Clarity Act), which aims to establish a regulatory framework for digital asset market structure.The bill sought to legally classify crypto tokens, set licensing requirements for trading-related businesses, and delineate the regulatory jurisdiction between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). (CoinDesk)
LAPTOP drops 98% within one hour of launch, market maker-related trades net over $2.1 million in profit, Hunter Biden denies team cashed out
Odaily News: According to Hunter Biden monitoring, Hunter Biden, son of former U.S. President Biden, posted the independent investigation results of the LAPTOP token launch incident, stating that he had commissioned forensic firm Groom Lake to verify all transactions on the day of launch. He denied that the team cashed out, saying that the founder tokens remain concentrated in the same wallet and have not been transferred since launch; his personal tokens have been locked for six months and will then be released over two years. He cited the investigation as saying that Market Maker 1 had $500,000 in startup capital, but only injected about $5,200 and fewer than 30,000 tokens into the liquidity pool, with the latter accounting for only 0.003% of the total supply. Extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, then fall 98% within one hour. Eighty-four seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,200 to zero. He said Market Maker 1 made about $686,000 in profit from its DEX position, while Market Maker 2 netted more than $2.1 million from related DEX trades, and argued that the market makers responsible for the launch problems should buy back and burn tokens. He said he bears ultimate responsibility, will not exit the project, and plans next week to burn most of the unclaimed tokens from the first airdrop; that airdrop accounted for 10% of the total supply.
US Treasury Volatility Index Surges as Analysts Warn Bitcoin and US Stocks May Face Volatility Risks
According to CoinDesk, volatility in the U.S. Treasury market continues to rise, while Bitcoin and U.S. stock market volatility remain at year-to-date lows. Market analysts warn that turmoil in the bond market may gradually spill over into risk assets.
Analyst: Bitcoin Breaks Above Key Cost Basis Line, Most Market Capital Now in Profit
Odaily report: Crypto analyst Darkfost posted on X with a chart, stating that compared to the end of August, the Bitcoin market trend has shown a clear shift, which can be observed from changes in the Capital Cost Basis. This metric calculates a weighted realized price based on transaction volume (USD), giving higher weight to BTC purchased at higher prices, thereby more accurately reflecting the actual cost of market capital.Data shows that at the end of August, BTC was still struggling near this key level, but Bitcoin has now closed above the capital cost basis of approximately $80,400 for several consecutive weeks. This means that most of the capital invested in the market is now in slight profit. As investor positions gradually turn profitable, market stability is strengthening by the day, which is a positive signal for the current BTC consolidation phase.
Analyst: Bitcoin Long-Term Holders Have Been Reducing Positions for 7 Consecutive Weeks, Market Still Absorbing Selling Pressure
Odaily News - Crypto analyst Axel Adler posted that Bitcoin long-term holders (LTHs) have reduced their holdings for the 7th consecutive week, but this has not yet hindered BTC price appreciation, as the market is still absorbing the supply released by long-term holders.Data shows that the long-term holder position change indicator remained positive from February to early August this year, with long-term holders accumulating approximately 1.2 million BTC in May. The indicator turned negative on August 17 and has been in a state of reduction for 7 consecutive weeks. As of September 28, the long-term holder position change showed a decrease of 73,400 BTC, expanding from a decrease of 1,100 BTC a week earlier.Axel Adler noted that compared to the approximately 1.07 million BTC reduced by long-term holders in November 2025, the current scale of reduction remains relatively limited. If long-term holders' reductions reach hundreds of thousands of BTC again in the future while BTC price stops rising, it may signal that the market's capacity to absorb supply is declining.Additionally, the long-term holder SOPR indicator has now been above 1 for the second consecutive week, indicating that long-term holders are taking profits. On September 21, the indicator rose to 1.24, the highest level since January this year; as of September 28, LTH SOPR stood at 1.18, meaning that BTC being moved has realized approximately 18% in realized profit relative to its cost basis. Current data shows that long-term holders are gradually exiting with profits as BTC price rises, while new demand is still able to absorb the supply released by the market.
Analysis: Bitcoin Fails Third Attempt to Break $87,000, Breakout Requires Stronger Buying Pressure
Odaily News: Bitcoin is facing selling pressure, marking its third rejection near $87,000 since September 23. FxPro analyst Alex Kuptsikevich noted that since early last week, BTC has formed a pattern of "rising local lows," but bulls have yet to gain sufficient upward momentum. The price is now approaching the apex of a triangle formed by horizontal resistance and an ascending support line. A breakout from this pattern could bring greater volatility to the market.The total crypto market capitalization has fallen back to approximately $2.93 trillion. Meanwhile, U.S. equities have shown relative strength, with the Nasdaq 100 hitting a record closing high and the S&P 500 less than 0.5% away from its all-time high. However, U.S. Treasury yields continue to climb, with the 10-year yield rising to 5.32%, near its highest level since 2002.Market observers believe that for BTC to break through $87,000, sufficient buying pressure is needed to absorb the persistent selling near that level. Once it holds above this threshold, it could open further upside toward its near 8-month high. (CoinDesk)
Analyst: Bitcoin Bull Market Signals Remain Strong, but the Missing Piece Is Spot Buying Pressure
Odaily Report: Crypto analyst Darkfost posted on X platform that the Bitcoin Bull Score Index remains in a clearly bullish zone, currently at 80/100, with multiple indicators continuing to support BTC's upward momentum.Darkfost noted that the only relatively lagging factor at present is spot demand. As previously observed, spot trading volume in the market remains low, so there is not yet any notable spot buying demand at this stage. He believes that spot demand is the key missing factor in the current BTC market trend, and this component is often the last piece to fall into place.
Aave Founder: Following Up on MetaMask Incident with Lido, Aave Market Currently Normal
Aave founder Stani stated on X that the team is tracking the developments of the MetaMask staking infrastructure security incident in collaboration with Lido. Stani noted that so far, the Aave market has not been affected by the incident, and all operations remain fully operational.
Kazakhstan's Regulated Crypto Market Surpasses $10 Billion, Web3 Ecosystem Ranks Among Global Top 10
As reported by Astana Times, Kazakhstan's regulated cryptocurrency market recorded a trading volume of $10.58 billion in 2025, marking a significant surge from $320 million in 2023, while the number of users increased from 53,000 to 215,000. At the same time, Kazakhstan ranked within the global top 10 for submission numbers to the International Solana Hackathon, with over 8,000 individuals completing training through the Solana ecosystem and more than 2,000 earning certificates. Additionally, 57 Web3 startups in the country have already received a combined total of approximately $262,000 in funding, and plan to complete the tokenization of real estate and logistics projects valued at up to $60 million by the end of 2026, exploring the feasibility of digital assets as a new channel for economic financing.
74% drop after SILV incident, sunrise warns users not to interact with tokenized silver asset issued by Dominion_Market
According to SolanaFloor monitoring, sunrise has warned users not to interact with SILV, the tokenized silver asset issued by Dominion_Market, after a previous attack led to the compromise of Dominion's treasury wallet, causing SILV to drop 74% following the incident.
Solana Automated Market Maker Aquifer Hacked, Loses Approximately $2.5 Million
Aquifer, an automated market maker within the Solana ecosystem, suffered losses of approximately $2.5 million after its wallet addresses were compromised. The incident appears to stem from leaked wallet credentials rather than a smart contract vulnerability. The attackers operated across multiple blockchains, including Ethereum and Solana, suggesting potential cross-chain fund transfers. As of now, the specific cause of the wallet access breach and the progress of asset recovery remain unclear.
Yi Lihua: A New Crypto Bull Market Is About to Begin, On-Chain Stocks Unlock New Potential for the Industry
Yi Lihua, founder of LD Capital, stated that over the past decade-plus, the crypto industry has gradually formed a "small world." However, in recent years, industry attention has increasingly been captured by negative content such as smear articles, traffic competition, personal attacks, and fabricated narratives, which has inevitably impacted the sector's reputation. He believes the industry should refocus its attention on innovation and opportunities themselves, stating that "a new bull market is approaching." On-chain finance, particularly on-chain stocks, is unlocking new avenues for imagination, with substantial meaningful developments and wealth-creation opportunities still ahead. Furthermore, compared to the crypto industry, the significantly larger AI sector is equally worth exploring.
Kylie Jenner's X Account Allegedly Hacked to Promote Same-Named Meme Coin; Market Cap Surges Then Drops 68%
According to BeInCrypto, Kylie Jenner’s X account appears to have been compromised, with an attacker posting the ticker and Pump.fun page link for the Solana-based memecoin kylie before the post was subsequently deleted. The token’s market cap briefly spiked to approximately $1.19 million before retreating by around 68%; at press time, it stood at roughly $378,500.
Bithumb to List PONS Token on Korean Won Market
According to an official announcement, South Korean crypto exchange Bithumb will list the PONS token on its Korean won market, with trading expected to open at 15:00 local time.
CFTC Chair: Will Apply Margin Models and Controls That Support Derivatives Market Integrity to Crypto Markets
In a CNBC interview, U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig stated that there will be no "race to the bottom" on leverage. The CFTC will apply the mature margin models and risk control measures long used in derivatives markets to uphold market integrity to the crypto market.
Hunter Biden Demands LAPTOP Meme Coin Market Maker Buy Back and Burn Tokens, Report Cites Severely Insufficient Initial Liquidity
Hunter Biden on Wednesday released a forensic report produced by Groom Lake regarding the LAPTOP Meme coin launch, and called out the anonymous market maker involved in the issuance, stating that "the market maker who botched the launch should buy back all the tokens and burn them."The report shows that a wallet possibly controlled by "Market Maker 1" received $500,000 before the launch, but only deployed approximately $5,200 at launch, accounting for about 1%. All liquidity providers combined contributed fewer than 30,000 LAPTOP tokens to the main pool, representing only about 0.003% of the initial 1 billion token supply.The extremely low initial liquidity made LAPTOP's price highly susceptible to being moved by small trades. According to the report, a single $6 buy order could push the quote up by approximately 5%. Combined with high-frequency early trading and liquidity fluctuations, this led to extreme price volatility on launch day.Biden stated that "the biggest winner in this launch was the market maker." The report further supplements previous explanations regarding the failed launch. Last month, the project team attributed the price anomalies primarily to sniper bots and insufficient liquidity.Notably, as of October 7, the 300 million founder tokens held by the project team had still not been transferred. The core of the current controversy remains focused on the market maker's launch execution, liquidity allocation, and whether it improperly profited from the extreme volatility.
LAPTOP drops 98% within one hour of launch, market maker-related trades net over $2.1 million in profit, Hunter Biden denies team cashed out
Odaily News: According to Hunter Biden monitoring, Hunter Biden, son of former U.S. President Biden, posted the independent investigation results of the LAPTOP token launch incident, stating that he had commissioned forensic firm Groom Lake to verify all transactions on the day of launch. He denied that the team cashed out, saying that the founder tokens remain concentrated in the same wallet and have not been transferred since launch; his personal tokens have been locked for six months and will then be released over two years. He cited the investigation as saying that Market Maker 1 had $500,000 in startup capital, but only injected about $5,200 and fewer than 30,000 tokens into the liquidity pool, with the latter accounting for only 0.003% of the total supply. Extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, then fall 98% within one hour. Eighty-four seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,200 to zero. He said Market Maker 1 made about $686,000 in profit from its DEX position, while Market Maker 2 netted more than $2.1 million from related DEX trades, and argued that the market makers responsible for the launch problems should buy back and burn tokens. He said he bears ultimate responsibility, will not exit the project, and plans next week to burn most of the unclaimed tokens from the first airdrop; that airdrop accounted for 10% of the total supply.
Demand for Centralized Exchanges Is Decreasing; NEAR Will Expand near.com's Fiat and Tokenized Stock Features
Illia Polosukhin stated that as on-chain tools expand, users no longer need centralized exchanges for many crypto activities. near.com integrates cross-chain spot trading, tokenized stocks, yield products, and perpetual contracts into a single interface, and plans to add more fiat-related features, including bank withdrawals, tax transaction records, and selective disclosure for confidential transactions. NEAR has partnered with Monerium to support users in converting between euros in bank accounts and EURe via IBAN, with the ultimate goal of enabling NEAR Intents to support "any asset to any asset" swaps. After integrating Ondo Finance in September, near.com already offers tokenized stocks and plans to add stocks from more global markets; NEAR's Agent Market allows users to describe their needs in natural language, with the platform finding agents capable of executing the task, and funds will be released after the task is completed and verified.
Analyst: Bitcoin Bull Market Signals Remain Strong, but the Missing Piece Is Spot Buying Pressure
Odaily Report: Crypto analyst Darkfost posted on X platform that the Bitcoin Bull Score Index remains in a clearly bullish zone, currently at 80/100, with multiple indicators continuing to support BTC's upward momentum.Darkfost noted that the only relatively lagging factor at present is spot demand. As previously observed, spot trading volume in the market remains low, so there is not yet any notable spot buying demand at this stage. He believes that spot demand is the key missing factor in the current BTC market trend, and this component is often the last piece to fall into place.
Related news
Bithumb to List PONS Token on Korean Won Market
According to an official announcement, South Korean crypto exchange Bithumb will list the PONS token on its Korean won market, with trading expected to open at 15:00 local time.
CFTC Chair: Will Apply Margin Models and Controls That Support Derivatives Market Integrity to Crypto Markets
In a CNBC interview, U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig stated that there will be no "race to the bottom" on leverage. The CFTC will apply the mature margin models and risk control measures long used in derivatives markets to uphold market integrity to the crypto market.
Hunter Biden Demands LAPTOP Meme Coin Market Maker Buy Back and Burn Tokens, Report Cites Severely Insufficient Initial Liquidity
Hunter Biden on Wednesday released a forensic report produced by Groom Lake regarding the LAPTOP Meme coin launch, and called out the anonymous market maker involved in the issuance, stating that "the market maker who botched the launch should buy back all the tokens and burn them."The report shows that a wallet possibly controlled by "Market Maker 1" received $500,000 before the launch, but only deployed approximately $5,200 at launch, accounting for about 1%. All liquidity providers combined contributed fewer than 30,000 LAPTOP tokens to the main pool, representing only about 0.003% of the initial 1 billion token supply.The extremely low initial liquidity made LAPTOP's price highly susceptible to being moved by small trades. According to the report, a single $6 buy order could push the quote up by approximately 5%. Combined with high-frequency early trading and liquidity fluctuations, this led to extreme price volatility on launch day.Biden stated that "the biggest winner in this launch was the market maker." The report further supplements previous explanations regarding the failed launch. Last month, the project team attributed the price anomalies primarily to sniper bots and insufficient liquidity.Notably, as of October 7, the 300 million founder tokens held by the project team had still not been transferred. The core of the current controversy remains focused on the market maker's launch execution, liquidity allocation, and whether it improperly profited from the extreme volatility.
Fed Minutes Reveal New York Fed Intervened in Foreign Exchange Market on Behalf of Treasury
The latest Federal Reserve meeting minutes indicate that the Federal Reserve Bank of New York conducted interventions in the foreign exchange market on behalf of the U.S. Treasury. This disclosure sheds light on the concrete actions taken by U.S. government agencies to stabilize exchange rates.
LAPTOP drops 98% within one hour of launch, market maker-related trades net over $2.1 million in profit, Hunter Biden denies team cashed out
Odaily News: According to Hunter Biden monitoring, Hunter Biden, son of former U.S. President Biden, posted the independent investigation results of the LAPTOP token launch incident, stating that he had commissioned forensic firm Groom Lake to verify all transactions on the day of launch. He denied that the team cashed out, saying that the founder tokens remain concentrated in the same wallet and have not been transferred since launch; his personal tokens have been locked for six months and will then be released over two years. He cited the investigation as saying that Market Maker 1 had $500,000 in startup capital, but only injected about $5,200 and fewer than 30,000 tokens into the liquidity pool, with the latter accounting for only 0.003% of the total supply. Extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, then fall 98% within one hour. Eighty-four seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,200 to zero. He said Market Maker 1 made about $686,000 in profit from its DEX position, while Market Maker 2 netted more than $2.1 million from related DEX trades, and argued that the market makers responsible for the launch problems should buy back and burn tokens. He said he bears ultimate responsibility, will not exit the project, and plans next week to burn most of the unclaimed tokens from the first airdrop; that airdrop accounted for 10% of the total supply.
Crypto Market Maker GSR Commits $100 Million to Expand Into On-Chain Credit Business Hare
As reported by CoinDesk, cryptocurrency trading and market-making giant GSR has committed $100 million to the new on-chain lending platform Hare. The multi-year commitment will primarily be provided in the form of credit lines, aimed at injecting initial liquidity into the product.