GriffinAI responds to $GAIN-related questions: investigating the specific situation
GriffinAI issued a statement regarding the $GAIN incident, stating that the team is investigating the issue and will release detailed information once more information is available. This morning, Binance Alpha's newly launched token, GAIN, plummeted nearly 95% in an hour, suspected to be due to a massive issuance. According to Aiyi and Ember's tracking analysis, the malicious issuance and dump address was created 11 hours ago, funded by ETH received through Tornado 13 hours ago and then converted to BNB across chains. A continuous dump began 22 minutes after the issuance, and after realizing the profit, 2,955 BNB (approximately $3 million) were transferred across chains to networks such as Solana and Ethereum.
UXLINK announces new contract and token migration compensation plan
UXLINK released an update stating that it has completed the deployment of a new smart contract (address: 0x3991B07b2951a4300Da8c76e7d2c7eddE861Fef3) and submitted an incident report and migration plan to DAXA and major exchanges. Legally circulating tokens will be exchanged at a 1:1 ratio, with a total circulating supply of 479,713,462 tokens. Illegally issued and stolen tokens will not be exchanged, and some have been suspended from circulation. The official on-chain exchange portal will be launched within five business days. A compensation program will be implemented based on recovered assets, and the company is working with regulators in Singapore, South Korea, and Japan to freeze wallets associated with the hack.
Griffin AI (GAIN), the new Binance Alpha token launched last evening, experienced a unilateral decline this morning, dropping nearly 95% within an hour to a low of $0.004185. It has since rebounded slightly to $0.02, bringing its BSC market capitalization to less than $5 million. BscScan data shows that GAIN, originally planned for a total supply of 1 billion (with 235 million in circulation), has been increased to 5.298 billion. The largest holder holds 4.852 billion, or 91.58% of the total supply, and continues to transfer tokens to the PancakeSwap V3 pool. No official statement has been released yet.
Australia releases draft regulation for crypto asset platforms
According to Decrypt, the Australian government has released draft regulations for cryptoasset platforms, proposing to extend financial services laws to the crypto industry. The draft requires operators to obtain an Australian Financial Services License and establish both digital asset platforms and custodial platforms. These regulations will include managing conflicts of interest, providing dispute resolution mechanisms, and meeting custody and settlement standards. The new regulations cover wrapped tokens, public token infrastructure, and staking services, granting regulators flexibility. The Australian Securities and Investments Commission (ASIC) has already implemented a licensing exemption for stablecoin intermediaries, and the relevant legislation is currently under public comment.
AML Software sues Athena Bitcoin and others for allegedly stealing Bitcoin ATM source code
According to Bloomberg, AML Software has filed a lawsuit in the U.S. District Court for the Southern District of Florida against Athena Bitcoin, Taproot Acquisition Enterprises, PSBC, and Jordan Mirch, accusing them of fraudulently stealing nearly 3,000 Bitcoin ATMs and their proprietary computer source code. The lawsuit alleges copyright infringement, trade secret misappropriation, and the distribution of infringing software throughout Florida. AML Software seeks an injunction and compensatory damages.
Aster increases the holding time RH points to 5 times
Aster announced that it will increase its "holding time score" (Rh points) by five times, effectively rewarding traders for long-term holding. Officials stated that the longer a position is held, the more Rh points will be earned.
A whale withdrew 26 million ASTER from Gate, bringing its total holdings to $115.5 million.
According to Onchain Lens, a whale address withdrew 26 million ASTER tokens worth $59 million from Gate. The address currently holds a total of 50 million ASTER tokens, with a total value of approximately $115.5 million, and has realized a profit of $9.92 million.
USDC Treasury mints 250 million new USDC on the Solana chain
According to Whale Alert, at 5:41 Beijing time, USDC Treasury minted 250 million new USDC on the Solana blockchain, worth approximately US$250 million.
U.S. SEC Chairman Paul S. Atkins stated on "Mornings with Maria" that the SEC is working closely with the CFTC to advance market structure legislation, including joint roundtable discussions and future joint rulemaking. He emphasized the need for a clear regulatory framework for the cryptoasset market and the need for innovative exemptions to support the development of on-chain capital markets. Furthermore, the SEC will review IPO reporting requirements and diversify opportunities for retail investors to participate in private markets.
U.S. Senate Banking Committee Releases List of Participants for Crypto Tax Hearing
According to Eleanor Terrett, the U.S. Senate Banking Committee announced that it will hold a hearing on crypto taxation on October 1. Witnesses include Jason Somensatto, Policy Director of Coin Center, Andrea S. Kramer, founding member of ASKramer Law, Lawrence Zlatkin, Vice President of Tax at Coinbase, and Annette Nellen, Chair of the American Institute of Certified Public Accountants’ Digital Asset Taxation Task Force.
The three major U.S. stock indexes closed slightly lower, while Alibaba rose more than 8%.
At the close of US stocks on Wednesday, the Dow Jones Industrial Average initially closed down 0.37%, the S&P 500 fell 0.28%, and the Nasdaq Composite fell 0.33%. Intel (INTC.O) rose 6.4%, and Tesla (TSLA.O) rose nearly 4%, with their closing market capitalization approaching $1.5 trillion. The Nasdaq China Golden Dragon Index closed up 2.8%, with Alibaba (BABA.N) up 8.2%, JD.com (JD.O) and Baidu (BIDU.O) both rising nearly 6%. Among blockchain stocks, ZONE and CAN rose by approximately 20%, ALTS fell 9.28%, and CEP fell 7.32. The rest saw mixed gains and losses.
Trump aides' involvement in massive chip and cryptocurrency transactions sparks ethics scrutiny
According to the New York Times, Massachusetts Senator Elizabeth Warren and Michigan Senator Elissa Slotkin have written to the State Department and Commerce Department Inspector General to investigate whether Trump administration officials violated ethical standards in two multi-billion dollar deals involving the UAE. One of the deals benefited US President Trump and the family of his advisor Steve Witkoff, while the other, an AI chip export agreement, raised national security concerns. The investigation is focusing on potential conflicts of interest involving Witkoff, the president's special envoy to the Middle East. While Witkoff was promoting the export of AI chips to the UAE, World Liberty Financial, a cryptocurrency company co-founded by his family and the Trump family, received a $2 billion investment from the UAE sovereign fund. According to disclosure documents, the Witkoff family holds 3.75 billion WLFI tokens of the company, valued at approximately $800 million at market price. Federal law explicitly prohibits officials from participating in decision-making on matters related to their financial interests.
Coinbase to List Centrifuge (CFG) and TROLL (TROLL) for Spot Trading
According to an official announcement, Coinbase will launch spot trading for Centrifuge (CFG) and TROLL (TROLL) on September 25. CFG-USD and TROLL-USD trading pairs will be available in supported regions starting at or after 9:00 AM PT, subject to liquidity conditions.
According to SolanaFloor, Solana's ecosystem liquidity protocol, Meteora, has unveiled a new proposal following backlash over its JUP staker distribution plan. 3% of the MET TGE reserve will be distributed to Jupiter stakers in the form of liquidity position NFTs on a time-weighted basis, providing stakers with MET/USDC liquidity exposure upon the token's launch.
SUI Group disclosed that it holds over 105 million SUI tokens, worth nearly $360 million
According to Businesswire, SUI Group (NASDAQ: SUIG), the SUI treasury company, disclosed that it held 105,630,660 SUI tokens as of September 23rd, valued at approximately $359 million at a price of $3.40. Furthermore, the company announced that it had repurchased 276,296 shares of its common stock for approximately $1.2 million.
The Hong Kong Monetary Authority (HKMA) warns that recent social media reports claiming the world's first stablecoin pegged to the offshore renminbi has been issued in Hong Kong are false. The Stablecoins Ordinance, which comes into effect on August 1, 2025, requires anyone who issues a fiat-denominated stablecoin in the course of their business in Hong Kong, or actively promotes such issuance to the Hong Kong public, to obtain a stablecoin issuer license from the HKMA. Please note that the HKMA has not yet issued any stablecoin issuer licenses. Therefore, any activity related to the issuance or promotion of stablecoins is illegal. If you are approached with offers to promote stablecoins, please remain vigilant. The HKMA will monitor market activity involving stablecoins. If any suspected violations of the Stablecoins Ordinance are identified, we will consider taking further action based on the relevant facts and evidence.
PANews reported on September 24th that on-chain analyst @ai_9684xtpa has monitored a suspected ENA treasury company that withdrew another 11.87 million ENA from Binance over the past three hours, valued at $7.2 million. The current holdings of ENA have grown to 104 million, with a total value of $63.67 million.
Fitell Corporation, a listed company, purchased 46,144 SOL tokens for approximately $10 million.
Fitell Corporation (FTEL), a Nasdaq-listed company, announced its initial purchase of 46,144 Sol (SOL) tokens for approximately $10 million, marking the company's first strategic acquisition under its previously announced Solana financial plan. This acquisition of SOL tokens follows the initial closing of the company's $100 million financing facility, and FTEL plans to use a significant portion of the net proceeds from the initial closing to make additional SOL acquisitions.
Franklin Templeton Integrates Benji Platform into BNB Chain, Expanding Tokenization
According to CoinDesk, global investment giant Franklin Templeton is expanding its proprietary Benji technology platform to the BNB Chain ecosystem. This move leverages the technological advantages of Binance Smart Chain, including its scalable, low-cost infrastructure and high transaction throughput, to amplify Benji's expertise in institutional-grade asset tokenization to create new on-chain financial assets. Franklin Templeton's Benji technology platform is an integrated system designed to facilitate the 24/7 trading, management, and distribution of tokenized assets, exemplified by the company's on-chain U.S. government money market fund, the BENJI token. Over the years, the platform has expanded to multiple blockchains, including Stellar, Ethereum, and VeChain.
Stablecoin startup Bastion completes $14.6 million in new funding round, led by Coinbase Ventures
According to Fortune magazine, stablecoin startup Bastion has completed a new round of funding, raising $14.6 million, led by Coinbase Ventures. Other investors include the venture capital arm of Japanese tech giant Sony, the venture capital arm of South Korean mobile phone manufacturer Samsung, the cryptocurrency arm of venture capital firm Andreessen Horowitz (a16z), and cryptocurrency venture capital firm Hashed. Bastion is a white-label stablecoin issuer, allowing businesses to more easily launch their own stablecoins without hiring lawyers to obtain regulatory approvals or software developers to write code. Bastion's differentiated advantage lies in its comprehensive stablecoin service offering, including a cryptocurrency wallet for clients to hold their tokens and access to cash-convertible stablecoins in 70 countries, including the United States.
Tether Appoints Benjamin Habbel as Chief Commercial Officer
According to the official blog, Tether announced the appointment of Benjamin Habbel as its new Chief Business Officer. Habbel will lead corporate development, finance, investment and portfolio expansion. As Chief Business Officer, Habbel will also focus on working closely with Tether's portfolio companies and investment projects, further expanding the portfolio management team, and empowering founders and teams to realize their vision. Habbel has expertise in both technology and finance. As CEO of Limestone Capital, he built a successful alternative asset management company that manages multiple funds, oversees a total of US$1 billion in assets, covers operating companies, and employs more than 500 people. He has a rich career resume. He has held leadership positions at Google, founded and successfully exited several software companies in Silicon Valley, and spent nearly a decade developing Limestone into a global investment platform.
Binance Futures will delist UXLINK USDT U-margined Perpetual Contracts
According to the official announcement, Binance Futures will automatically liquidate the UXLINKUSDT U-margined perpetual contract at 17:00 (GMT+8) on September 26, 2025, and will delist the above-mentioned U-margined perpetual contract trading pair after the liquidation is completed.
According to The Block, Native Markets' USDH stablecoin has launched on the Hyperliquid platform, with the USDH/USDC trading pair now open for trading. Initial trading volume indicates a cautious but active market start, reaching approximately $2.2 million as the market launch progresses. USDH is the first dollar-pegged token issued through Hyperliquid's validator selection process. It is a stablecoin natively issued on the HyperEVM and can be traded across the Hyperliquid ecosystem. Native Markets won the bid earlier this month, beating proposals from several companies, including Paxos, Frax, and Agora. The plan calls for a phased rollout, with the first USDH/USDC spot market launching "within days" of approval. The issuer stated that its reserves are fully collateralized by cash and short-term U.S. Treasury bonds, with the initial mix comprising both off-chain and on-chain components, and transparent data provided by oracles. The proposal also outlines an economic recycling mechanism to allocate a portion of reserve proceeds to buyback HYPE tokens.
Changpeng Zhao: The era of Perp DEX is coming, and high-quality projects will win in the long run
Zhao Changpeng wrote in a post: "Now everyone wants to build a Perp DEX. More participants will make the market scale faster, and rising tides will lift all boats. In the long run, the best builders will win. The era of Perp DEX has arrived."
According to PR Newswire, Chinese auto dealer Jiuzi New Energy (NASDAQ: JZXN) announced that its board of directors has formally approved and adopted a cryptoasset investment policy. This policy authorizes the company to allocate a portion of its cash reserves to specific cryptoassets within a prudent risk management framework. The policy's core framework includes: 1. Clear investment authorization and ceiling: The board has authorized the company to deploy up to $1 billion to purchase cryptoassets, ensuring controlled risk exposure. 2. Strict asset selection criteria: Initially, investments will be limited to BTC, ETH, and BNB. Any future expansion plans to include other assets will require reassessment and approval by the board's risk committee. 3. Highest level of custody standards: The company will not maintain custody of acquired cryptoassets. 4. Professional oversight and governance: A "Cryptoasset Risk Committee" has been established to oversee the implementation of various policies and report regularly to the board.
Aster's open interest surges to $1.25 billion, surpassing Hyperliquid
According to Cointelegraph, Aster, a decentralized perpetual swap exchange on the BNB blockchain, saw its open interest surge by nearly 33,500% in less than a week. CoinGlass data showed on Wednesday that its open interest surged from $3.72 million on Friday to $1.25 billion, as traders flocked to the exchange to challenge competitor Hyperliquid. Aster's total value locked (TVL) also increased to $1.85 billion, a 196% increase from Friday. DefiLlama data shows that Aster led the perpetual swap market in daily trading volume on Wednesday, reaching nearly $24.7 billion in 24 hours, surpassing Hyperliquid (approximately $10 billion). EdgeX ($8.25 billion) and Lighter ($6.18 billion) were close behind. Hyperliquid maintained its top spot in 7-day and 30-day perpetual swap trading volume, reaching $66 billion in the past week and nearly $300 billion in the past 30 days.
Brazilian firm OranjeBTC buys 3,650 Bitcoins for $385 million
According to Cryptobriefing, Brazilian Bitcoin financial company OranjeBTC purchased 3,650 Bitcoins for $385 million today as part of its strategic reserve accumulation before its planned listing.
Changpeng Zhao: SafePal is also in YZi Labs’ portfolio
Changpeng Zhao posted on the X platform that SafePal is also in YZi Labs' portfolio and that they invested in it quite a while ago, probably shortly after investing in Trust Wallet. Market data shows that the SFP token price briefly touched $0.742 and is currently trading at $0.5891, a 24-hour increase of 32.86%.
Trust Wallet to Launch Perpetual Contracts Powered by Aster Technology
According to official news, Trust Wallet announced that it will soon launch perpetual contracts, supporting more than 100 markets with up to 100x leverage, and will be technically supported by Aster.
Mechanism Partner: Tom Lee’s bullish argument for ETH is “idiotic”
Andrew Kang, partner at Mechanism Capital, published an article on the X platform, calling the bullish argument of Tom Lee, the leading ETH bull, "idiotic," calling it the most financially illiterate argument he has seen in recent times. He refuted each of these arguments one by one: Regarding the stablecoin and RWA adoption theory, Kang believes that Ethereum network upgrades have improved transaction efficiency, that stablecoin and tokenization activities are also flowing to other public chains, and that the fees generated by tokenizing low-liquidity assets are negligible. Regarding the digital oil analogy, he pointed out that oil is a commodity, and that real oil prices have hovered in the same range for a century. Using this analogy with ETH is not a reason to be bullish. Regarding the institutional pledge capital theory, Kang said that large banks have not included ETH on their balance sheets and have not announced relevant plans, so they can purchase it on demand when demand is low. Regarding the theory that ETH is equivalent to the total value of financial infrastructure companies, he believes this is a misunderstanding and delusion. In terms of technical analysis, Kang stated that Ethereum has been in a multi-year range of fluctuations, having recently peaked but not broken through, and that the technical outlook is bearish. Without major changes, it will continue to underperform. Earlier today, BitMine Chairman Tom Lee said that Ethereum is a "truly neutral chain" that will be favored by Wall Street and the White House.
The relevant voting page indicates that Curve DAO has passed and executed Proposal #1206, which aims to establish a credit line of up to 60 million crvUSD for the Yield Basis project. The proposal proposes adjusting the debt ceiling via the set_debt_ceiling function. Related reading: With the Curve founder's new project about to launch on the mainnet, how can you earn Bitcoin with Yield Basis and avoid impermanent loss?
Bless announced that it has opened airdrop applications
Bless, a shared computer network, announced on the X platform that its BLESS token airdrop is now open for claiming. Users who have locked in their BLESS tokens can start staking today, and trading on multiple platforms has already started.
Binance Futures to Launch FLUIDUSDT U-Margined Perpetual Contract
According to the official announcement, Binance Futures will launch the FLUIDUSDT perpetual contract at 18:15 (GMT+8) on September 24, 2025, with a maximum leverage of 75x.
Mira announced the MIRA token economics: MIRA has a total supply of 1 billion tokens, based on the Base network, with an initial circulating supply of 19.12% at the TGE. Use cases for the token include API access and value capture, consumer application integration, serving as a foundational asset for the Mira Network AI ecosystem, staking, and governance. Token distribution is as follows: 6% for the initial airdrop, 16% for future node rewards, 26% for the ecosystem reserve, 20% for core contributors, 14% for early investors, 15% for the foundation, and 3% for liquidity incentives. At the TGE, 100% of the initial airdrop is immediately vested, excluding Kaito ecosystem stakers (who will be vested after two weeks). The ecosystem reserve is partially vested on day one, with the remainder vesting linearly over 35 months. All other allocations are fully locked at the TGE and released gradually according to the vesting schedule.
Aster CEO confirms Aster Chain is about to be launched and has entered the testing phase
According to Solid Intel, Aster’s CEO confirmed that Aster Chain will be launched soon and has entered the testing phase. The chain has features such as sub-second transaction finality, native perpetual contract integration, low transaction fees, and a token repurchase plan.
