LAPTOP swings dominate a packed crypto news cycle as whale trades, exchange listings and stablecoin updates stack up

LAPTOP swings dominate a packed crypto news cycle as whale trades, exchange listings and stablecoin updates stack up

N
News Editor
2026-09-10 02:00:00
Crypto markets saw an unusually dense flow of developments between Sept. 9 and Sept. 10, with LAPTOP drawing the most attention after its launch, airdrop claims, market-maker allocations, liquidity incentives and extreme price moves all unfolded in quick succession. Security concerns emerged at the same time, including phishing warnings tied to LAPTOP and a separate email phishing alert from hardware wallet maker Trezor. Beyond LAPTOP, on-chain activity showed large ZEC buying through three wallets, a profitable six-month run in VVV and LIT by whale address 0x7378, and fresh positioning by trader Based16z. Binance listed Niulai and expanded related services, while Binance Alpha added 4Stock and A Meme Coin. Institutional and infrastructure news also arrived in size. Aave launched an official MCP server for AI agents, Consensys spun out MetaMask into an independent entity, U.S. Bank tested cross-border payments using USBDC on Stellar, PayPal formally rolled out its PYUSDx platform, and Tether teamed up with Fasanara Capital on a $400 million private credit fund. Regulators and policymakers were active as well, with U.S. enforcement action against Xinbi Guarantee, fresh pressure in Washington around the CLARITY Act, and an EU move to extend local contact-point rules to crypto service providers.

Crypto markets moved through a heavy news stretch between Sept. 9 and Sept. 10, with LAPTOP, whale positioning, exchange listings, payment infrastructure, protocol releases and enforcement developments all landing within hours.

Pons founder says tax settings cannot be changed after token launch

Pons founder Ozzy said in a post on X that tax rates on tokens launched through the platform cannot be changed after issuance. He said some front ends routed trades to high-tax pools because of routing configuration issues, while the pool Pons initialized on Uniswap V4 carries liquidity, a 0% tax rate and only a 1% Hook fee.

Ozzy said front ends may show a higher tax rate when malicious actors try to "vamp" that pool, but the actual Pons pool tax has not changed. He said he had asked the relevant terminals to fix the issue and told users that any fee above 1% means the order was routed to the wrong pool.

Aave launches official MCP server

Aave has launched an official MCP server that allows AI agents to access live protocol data and prepare transactions on Aave V3 and V4. The server can connect with ChatGPT, Claude and other MCP-compatible tools, while users keep control over transaction signing.

Whale and trader positioning updates hit the tape

Three wallets that may belong to the same whale spent 3,700 ETH, worth $9.23 million, and 2 million USDC to buy 8,994 ZEC valued at $11.23 million. The buying was still ongoing.

Another address that bought STONK on its first listing day spent $80,300 at a roughly $2.73 million market capitalization, according to trader @The__Solstice. That position is now worth $1.63 million, down from a peak of $2.24 million. The address has sold only 21% and still holds most of the position.

Whale address 0x7378 made $14.93 million from VVV and LIT over six months. Six months ago, the address bought 102,189 VVV at $7.87. It sold 92,189 VVV today at $25.75 for $2.37 million, still holds 10,000 VVV worth $259,500, and has made $1.83 million on VVV. Over the past three months, it also spent $11.3 million to buy 4.74 million LIT at an average price of $2.39. That position is now worth $24.4 million, leaving an unrealized gain of $13.1 million.

Trader Based16z just closed 7,650 VVV long contracts worth about $200,000 and still holds 83,290 VVV longs valued at about $2.2 million. Data shows the trader's realized and unrealized profit combined exceeded $600,000 in less than 24 hours.

LAPTOP launch triggers airdrop claims, market-making flows, sharp gains and steep losses

GoPlus warned that a large number of phishing sites and copycat tokens had appeared ahead of the LAPTOP airdrop. The security firm said fake LAPTOP whitelist pages, eligibility checks and claim pages were circulating on Twitter, while same-name copycat tokens had gone live across multiple chains with risks including closed-source contracts, high taxes and paused trading. GoPlus told users to rely on the official website and X account, avoid copycat trading where possible, check contracts with token security tools and follow the principle of not clicking, not installing, not signing and not transferring.

Hunter Biden later said on X that the LAPTOP token was live and that airdrop claiming had opened for 30 days.

PANews had previously reported that LAPTOP has a total supply of 1 billion tokens, with 350 million in initial circulation at TGE, or 35% of supply. Of that amount, first-day airdrops, future airdrops and liquidity each account for 10%, while the foundation treasury accounts for 5%. A total of 20% of supply is allocated to community airdrops. Within that, 2% is reserved for users who lost money in the TRUMP meme coin and other related projects, to be distributed by participating exchanges based on their own standards; 8% goes to Hunter Biden Substack subscribers as of Sept. 6; and 10% is reserved for future community airdrops at the discretion of Phoenix Veritas Foundation.

Wintermute also became one of the market makers for LAPTOP. Twenty-one hours earlier, Wintermute received 2.5 million market-making tokens from a Laptop multisig address and distributed them to multiple exchange deposit addresses. The total market-making allocation for LAPTOP now stands at 23 million tokens, including 15.5 million for GSR Markets, 5 million for G20 and 2.5 million for Wintermute, equal to 2.3% of total supply.

GMGN data showed LAPTOP's market capitalization briefly surged to $314.9 billion after launch, then fell below $8 billion.

One user who chased the move out of FOMO saw $200,000 shrink to $3,000. The user had withdrawn $250,000 from Binance in advance to buy on launch, then paid $218 per token for 919 LAPTOP and is now left with a position worth about $3,000.

Another trader spent 900 USDC to buy 2,268.56 LAPTOP at $0.40 each, then sold the full amount at an average price of $111 and received 251,270 USDC, for a profit of more than $250,000 and a 278x return.

A separate trader bought 471 LAPTOP for about $997 and sold the entire position within two minutes for roughly $66,800, booking about $65,100 in profit and a 65x return.

Two addresses that made more than $647,000 from the LAPTOP airdrop may belong to Safe architect FloB_Safe. Roughly 40 minutes earlier, the two addresses each claimed 4,276 LAPTOP from the Hunter Biden Substack subscriber airdrop contract and then sold them for profits of $404,000 and $243,000. The two addresses share ETH transfer links, and one of them has already sent the USDC proceeds to a publicly labeled FloB_Safe address.

Bubblemaps said close to 80% of LAPTOP traders were in the red. It said at least two traders lost between $100,000 and $1 million, 100 traders lost more than $10,000, around 700 lost more than $1,000 and roughly 11,000 others posted smaller losses. Bubblemaps closed with a sarcastic "Thank you Hunter Biden."

Hunter Biden later said the LAPTOP Foundation's X account had been suspended, that the team was trying to restore it, and that updates would be posted on Medium in the meantime. He also said the foundation would not exit the project. In a separate statement, the team said LAPTOP set up its initial liquidity pool at $0.05 per token but then ran into heavy demand and sniper bots, while market makers did not have enough initial liquidity, leading to violent price swings before more liquidity was added.

The team said it began deploying 4 million LAPTOP to the Aerodrome liquidity pool at 8:00 a.m. Beijing time on Sept. 10 as an incentive, equal to 0.4% of total supply. It also said two prediction events would settle as "YES" and that 10 million LAPTOP, or 1% of total supply, would be burned during the first week after launch.

The team added that there was no presale and no allocation to investors, influencers or KOLs. The founder's 30% allocation is locked for six months and unlocks over two years under Coinbase Custody, while another 30% tied to the prediction mechanism is locked for 12 months. A total of 80 million LAPTOP can be claimed by users who subscribed to Hunter Biden's Substack before Sept. 6, with a 30-day claim window, and any unclaimed portion will be burned. Hunter Biden had previously said he had not received any profit from LAPTOP after the token's post-launch volatility. Market data showed LAPTOP kept sliding after launch and at one point fell below $1.

Eric Trump also mocked the failed launch on X, writing: "Hunter Biden should go back to painting."

Binance lists Niulai and adds related products

Binance listed Niulai on Sept. 9, 2026 at 22:30 Beijing time and opened spot trading for NIULAI/USDT, NIULAI/USDC and NIULAI/TRY, while adding a seed tag.

Binance Earn, Buy Crypto, Convert, VIP Loan and Margin also added the token. The Simple Earn flexible product for Niulai opened for subscription at 22:30 Beijing time on Sept. 9. Buy Crypto support becomes available within one hour after the spot listing. Convert will allow users to exchange Niulai for BTC, USDT and other tokens within one hour after listing with zero fees. VIP Loan will add Niulai as a borrowable asset within one hour after the spot listing.

On the margin side, cross and isolated margin added Niulai as a borrowable asset at 22:30 Beijing time on Sept. 9 and launched NIULAI/USDT and NIULAI/USDC pairs for both cross and isolated trading. Unified accounts will also add Niulai as a borrowable asset together with those margin pairs.

Binance Alpha separately listed 4Stock (4Stock) and A Meme Coin (MEME).

Stablecoin, payments and credit infrastructure expand

U.S. Bank, the banking arm of U.S. Bancorp, said it had completed a real-time cross-border payment test using its dollar stablecoin USBDC. The transaction was executed between its North American and European entities over the Stellar blockchain.

The pilot also tested minting, redemption, freezing and rebate functions for USBDC and validated the bank's internally developed digital asset platform. U.S. Bancorp said it is exploring uses for USBDC in cross-border treasury operations, liquidity management and collateral transfers, but did not disclose when the stablecoin might be opened to clients or commercialized.

PayPal said it has formally launched PYUSDx, a customized stablecoin developer platform. Built with support from fiat-backed token specialist M0 and crypto payments company MoonPay, the platform provides infrastructure for businesses to issue custom stablecoins backed by PayPal USD, or PYUSD.

The platform was first previewed in February and is now live. Crypto-native companies Saturn, Concrete and Cap have already issued tokens on it, bringing more than $100 million in processing volume. According to the announcement, USD.AI and Fairblock are also among the companies launching stablecoins on PYUSDx.

Cross-border stablecoin payments infrastructure company Latitude raised $35 million in Series A funding led by Oak HC/FT, with NEA, Coinbase, Lightspeed Faction and OpenFX participating. The company was founded by former executives from Stripe, Uber, Coinbase and Meta and aims to help businesses send fiat to users in emerging markets through stablecoins while settling to local payment methods such as bank accounts and mobile wallets.

Latitude is licensed in 45 U.S. markets, plans to expand regulatory coverage in Southeast Asia, Latin America and Africa, and currently has a team of 15. The new capital will go toward expanding compliance, engineering and sales.

Tether said it has partnered with Fasanara Capital to launch StableFund, a $400 million private credit fund with a target of attracting as much as $3 billion in third-party institutional capital. The fund will provide short-term, asset-backed financing to small and medium-sized businesses across more than 60 countries. Tether will supply USDT settlement infrastructure and financing opportunities, while Fasanara serves as investment manager.

Tether CEO Paolo Ardoino said, "USDT is designed to become a 24/7, frictionless global currency," adding that the fund is intended to turn Tether's financing network into a direct capital channel for businesses and communities that need it most.

Fundraising and corporate activity continue

AI 3D company VAST said it completed its Series B and B+ rounds for a combined total of about 3 billion yuan, with Matrix Partners China leading the financing. Perfect World, BlueFocus, Xindongneng Investment, Yanqu Games, ThunderSoft, 37 Interactive Entertainment, CDH VGC, CICC Capital and CMC Capital joined the round, while existing investors including Fortune Capital, Primavera Capital and Yingsce Capital also followed on.

According to the company, it has raised about 5 billion yuan in less than six months. VAST also released Tripo P2.0, the latest version of its flagship 3D foundation model in the Tripo P series. It said the fresh capital will be used for native 3D model and data iteration, expansion of training and inference infrastructure, product development and commercialization.

San Francisco-based crypto crime tracing company TRM Labs received a follow-on investment from existing backers only six months after completing a $70 million Series C in September 2025 at a $1 billion valuation. Its valuation has now doubled to $2 billion. CEO Esteban Castano said the company's mission has broadened from blockchain forensics to mapping cybercrime more generally, with AI as a second growth engine rather than a pivot, while the core crypto business remains strong.

Castano said TRM is preparing a new investigative platform focused on AI-driven deepfake scams, sextortion and child sexual abuse cases. He added that the company expects to reach $100 million in annual recurring revenue in the coming weeks. TRM currently has about 500 employees and offices in London, Singapore and Washington.

AI fintech company Kapital raised $125 million in a mix of equity and debt led jointly by Tru Arrow Partners and Fasanara Capital, with Cervin Ventures, Niya Partners and Overlook Capital also participating. Kapital said the money will go to deeper development of its AI platform and data analytics suite and to faster expansion across the U.S. and Europe.

Meta acquired Swedish AI startup Stilla.ai to speed up development of Meta Business Agent, which helps merchants interact with customers and drive transactions on WhatsApp, Messenger and Instagram. Stilla, founded in 2024 and based in Stockholm, came out of stealth in January after raising a $5 million pre-seed round. Meta said the Stilla team and technology will be integrated into the company. Meta added that more than 1 million businesses already use Business Agent to handle customer interactions.

Consensys spins out MetaMask as a standalone company

Ethereum software company Consensys said it is spinning out its flagship wallet MetaMask into an independent entity, with founder Joe Lubin serving as CEO. The remaining Consensys business will be renamed as a new entity focused on institutional protocols and Ethereum software, led by longtime executive Mike Kriak.

Lubin said the split reflects the much faster value creation pace of MetaMask's consumer business relative to the company's other divisions. MetaMask has expanded beyond an Ethereum wallet into what he described as something closer to a crypto-native new bank platform, adding a "main account" feature, support for multiple asset types, spending via a Mastercard debit card, and revenue streams tied to perpetual futures and prediction markets.

Lubin did not disclose an IPO timeline, though analysis cited in the report said MetaMask could seek a listing as early as the start of 2027. He also said the current regulatory environment has reduced the desire to issue a token.

Protocol, infrastructure and research updates keep coming

Liquid Network said in its latest update on the hacking incident that emergency release Elements v23.3.4 is now live, Functionary nodes have started upgrading immediately, and all Liquid node operators are advised to update. The release fixes the previously identified Proof verification cache vulnerability and strengthens the cache key used in Range Proof validation.

Liquid said Elements v23.3.4 had gone through multiple rounds of internal and external review, including work by Bitcoin Red Team and Alpen Labs. On the restart process, Blockstream said it is still preparing a recovery plan that is expected to proceed in three stages: resume block production while keeping Peg operations paused, replay transactions that have already been verified as valid, and restore Peg operations once the network is fully recovered and the return of funds is confirmed. The first two phases are currently being tested in parallel, and each stage will move ahead only after safety is confirmed.

SideSwap later said the Elements software used by Liquid had a consensus-layer vulnerability on Sept. 6. An attacker used it to mint about 4,000 L-BTC with no real deposit backing and sent the tokens to SideSwap's peg-out service. SideSwap processed them automatically as a normal customer order, the L-BTC was then burned, Liquid federation released about 3,996 BTC to a bitcoin address provided by the attacker, and SideSwap forwarded the funds in full to that address.

SideSwap said the vulnerability itself was not caused by the company, but that two operating choices in its peg-out service turned what could have remained a reversible Liquid-layer failure into an irreversible bitcoin loss, and it therefore accepts full responsibility. First, peg-out authorization keys were kept online for long periods and every federation payment was automatically forwarded to customers in the same bitcoin block, with no manual delay. Second, the peg-out workflow lacked checks on order size, rate and deposit wallet history, allowing a giant order close to the entire circulating L-BTC supply to pass without human review.

SideSwap also said the funds used for minting had crossed a bridge from Tornado Cash and that the attacker had previously run several smaller test transactions, which led the company to conclude the incident was premeditated. SideSwap said it is a non-custodial wallet and users' self-held assets were not affected. It has refunded roughly 4 BTC in fees from the transaction to the Liquid federation in full. Peg-in and peg-out services will stay suspended until the federation completes a new security review and architecture changes, while other market functions will return together with the network restart.

a16z Crypto released a new version of its open-source zero-knowledge virtual machine Jolt called Lattice Jolt, replacing elliptic-curve cryptography with lattice-based cryptography. The firm said the update brings quantum resistance, improves prover and verifier speed by 2x to 3x, and generates short proofs under 100 KB, the smallest among quantum-resistant zkVMs, with room for more compression.

The system is based on the standard Module-SIS assumption, which also underpins quantum-resistant standards including ML-DSA and ML-KEM that are now being deployed globally. The new polynomial commitment scheme, Akita, was led by LayerZero and developed together with Carnegie Mellon University, the University of Southern California and the a16z Crypto team.

Ethereum co-founder Vitalik Buterin introduced EIP-8288, a proposal that would bring a recursive STARK mempool mechanism into the I-star upgrade after Hegota. The goal is to move signature verification and proof generation out of Ethereum's main execution path and sharply reduce on-chain costs through recursive aggregation inside the mempool.

Buterin said the design could materially lower the cost of quantum-safe signatures and privacy protocols, with gas costs for private transactions expected to fall from the tens of millions into the tens of thousands. It could also support new signature or proof systems such as Falcon and ML-DSA without changes to the EVM, while enabling private account abstraction. Under the design, nodes would periodically collect and aggregate transaction dependencies into recursive STARKs, and block builders would post the aggregated proof on-chain. Each block would only need to carry one additional 100 KB to 300 KB STARK plus 96 bytes of data per claim. Buterin also said the proposal could help establish RISC-V as the standard instruction set for recursive STARKs on Ethereum.

world.xyz launched a fully on-chain prediction market platform on Solana, saying more than 1 million users have joined the waitlist. Chainlink supports market settlement, and contracts settle in Phantom's CASH stablecoin.

Pump.fun introduced Custom Pairs, allowing users on Solana to issue tokens paired with tokenized stocks, major crypto assets and metals. Through a partnership with Sunrise, the platform added 20 new pairable assets including BA, BABA, BULL, COST, DELL, DJT, HIMS, IBM, JNJ, LMT, LULU, MGM, PFE, QUBT, RBLX, RDDT, RIVN, SHOP, SNAP and UPS. The total number of supported pairable assets from xStocks and Sunrise now stands at 93, with more planned.

Pump.fun said the bonding-curve and PumpSwap protocol fees for Custom Pairs match those of standard token launches, and 50% of the resulting revenue will be directed to the PUMP programmatic buyback-and-burn contract. Issuers can set a fixed creator fee from 0.05% to 1% or use a Cashback model that returns fees to traders, with fees paid in the paired quote token.

Harmony said validators can stop operating validator nodes from 14:00 UTC on Sept. 10, which is 22:00 Beijing time. The network said transition and compensation plans were detailed earlier in its ONE migration article and repeated that its future direction will shift toward an AI video remix economy.

Regulation, compliance and enforcement activity picks up

The U.S. Justice Department's Fraud Section and the Treasury Department took coordinated action against illegal marketplace Xinbi Guarantee, seizing and restricting more than $52 million in crypto assets in a single day and bringing total restricted assets to about $938 million. Tether assisted the investigation.

The Justice Department said Xinbi mainly operated through Telegram, offering scam groups customized investment scam websites, money laundering services and recruitment of trafficking victims into scam compounds in Southeast Asia. Authorities seized the group's Telegram channels and two crypto wallets holding about $12 million combined, and imposed restrictions on 47 additional related wallets.

The Treasury's Office of Foreign Assets Control designated Xinbi a major transnational criminal organization and sanctioned two more supporting entities. The task force also helped Madagascar shut down 13 scam compounds, process more than 3,200 devices and arrest nearly 400 people.

U.S. Treasury Secretary Scott Bessent called on the Senate to move forward with the CLARITY Act. He said the bill is intended to build a comprehensive regulatory framework for digital assets and strengthen the country's ability to stop bad actors from abusing the technology. Bessent said that once the Senate returns from its August recess, lawmakers should stay at the table, agree to proceed to consideration and push the legislation ahead. He warned that failure to do so would send a troubling signal to both allies and rivals.

The European Commission adopted a delegated act that would extend the central contact point framework to crypto-asset service providers. The move would allow national regulators to require exchanges and other crypto firms operating locally to designate a domestic contact person. The framework previously applied only to e-money and payment institutions; after the change, crypto service providers would be brought into the anti-money-laundering and compliance network.

California Governor Gavin Newsom signed two AI safety bills that set rules for third-party security evaluations of AI systems. One bill establishes registration and ethical standards for external AI auditors, and the other empowers the state to define standards and review the qualifications and capabilities of Independent Verification Organizations. Anthropic had publicly supported the legislation earlier, and OpenAI also backed it before the signing. Newsom called for federal AI rules to be adopted quickly.

Quantum security discussion broadens across bitcoin and ethereum

Coinbase said it co-hosted a post-quantum bitcoin workshop at Stanford University with Stanford cryptography professor Dan Boneh and Localhost Research. The closed-door event brought together bitcoin developers, cryptographers, researchers, institutional custodians and hardware wallet specialists to discuss how bitcoin should prepare for future cryptographic risks from quantum computing.

Participants reviewed progress in quantum computing, the current state of post-quantum cryptography and the suitability of different post-quantum signature schemes for bitcoin. Drawing in part on Ethereum's own planning, they also discussed institutional custody needs, bitcoin output types and possible protection paths. Hardware wallet constraints, signature choices and safeguards for assets that may not migrate in time were also part of the discussion.

Coinbase said no one can accurately predict when a quantum computer capable of breaking current cryptographic systems will emerge, which makes early preparation more important than trying to call an exact date. Participants said quantum computing is not yet an immediate crisis for bitcoin, but early action would give the ecosystem time for research, testing and coordination.

The company added that while several post-quantum security approaches are receiving attention, there is still no perfect solution or clear consensus. Each option comes with tradeoffs across security, transaction size, hardware performance, key management and user adoption. Coinbase said bitcoin's move to post-quantum security is more likely to be a continuous, phased migration than a one-off event.

Separately, the U.S. Commerce Department awarded up to $100 million each under the CHIPS Act to Rigetti, D-Wave and Quantinuum, for a total of $300 million, and will take minority stakes in the companies. The funding is aimed at hardware, manufacturing and error-correction research for fault-tolerant quantum computers. The report also said Ethereum has set December 2029 as the deadline for quantum resistance across its execution, consensus and data layers, while bitcoin developers are advancing BIP-360 and BIP-361 for post-quantum signature migration. It noted that no quantum computer currently poses a real threat to existing crypto systems, but around 1 million BTC, including Satoshi Nakamoto's holdings, have exposed public keys on-chain and could become stranded if migration lags.

Robinhood and AMC keep arguing over tokenized stocks

Robinhood CEO Vlad Tenev said in a recent interview, responding to criticism from AMC, that once a listed company's stock trades publicly, other financial institutions should be able to issue related financial products around that stock without first obtaining the issuer's permission.

Tenev said Robinhood's stock tokens are issued by an independent entity and backed by the underlying shares, so issuer consent should not be automatically required. AMC CEO Adam Aron had previously attacked Robinhood's tokenized AMC stock, saying it bypasses the issuing company, disrupts the traditional relationship between companies and shareholders, and leaves token holders without voting rights in the underlying stock. Asked how Robinhood would exercise voting rights tied to the underlying shares, he said the company has not yet laid out a specific plan.

Markets and macro

An analysis said bitcoin SOPR has recorded its longest profit streak of 2026, a signal that may point to an early-stage bull market recovery.

Binance market data showed Meta shares up 7.00% intraday at $656.13.

Japan's Nikkei 225 fell 1.00% intraday, while South Korea's KOSPI dropped 0.75%.

The U.S. 10-year Treasury yield rose to 4.85%, its highest level since 2023, while China's 10-year government bond yield held at 1.68%. That pushed the U.S.-China yield spread out to 317 basis points, the widest since 2002. The report said the wider spread weakens the appeal of onshore assets to domestic and overseas investors and raises risks of capital outflows and yuan weakness. It also noted that the divergence between continued inflation-fighting by the Federal Reserve and relatively loose support from the People's Bank of China is putting pressure on the yuan's earlier export-driven stability, while sovereign yields globally have climbed to levels last seen in 2007.

Views and other developments

Bonk Guy said on X that his view on Solana is turning more bullish. He said Solana has recently re-embraced "trench" culture and has become more active in pushing community projects. He also said Solana management had reached out to him directly to understand how to align more closely with the community and the "trench" ecosystem, and that official and core ecosystem figures have lately started openly acknowledging projects such as $STONK and $USELESS. He summed up the shift by writing, "My Solana bias is changing."

ARK Invest founder Cathie Wood said blockchain development has already run for more than a decade and that more chains will still be launched in the future. As more networks enter the market, she said, understanding how different chains scale, build business models and attract users will help observers understand the competitive structure of the sector ahead. She shared an analysis by Lorenzo and said it offers an accessible framework for understanding the business models, tradeoffs and go-to-market strategies used by blockchain projects as they expand, monetize and acquire users.

DeFi researcher Ignas said the current "stock coin" meme narrative depends fundamentally on trading volume and fee income. If volume fades, the money available for distributions and buybacks falls with it, holder incentives weaken and selling pressure may follow. Ignas noted that Coinbase's trading volume dropped from $547 billion in the fourth quarter of 2021 to $145 billion a year later, a decline of about 74%, and said meme-coin trading volume could eventually drop by 95%. He added that projects including ZCAT, STONK, PONS, INDEX, SHROOM and CASHCAT all tie dividends, buybacks, burns or liquidity incentives to trading fees, which means simple annualized return calculations based on current fees are not reasonable.

Investor Naval wrote that early AI models were trained on internet-scale scraping and produced only "mediocrity stitched together," but that AI is now starting to "hunt and consume the works of modern Mozarts, Einsteins and Shakespeares," creating "ghost geniuses" that can write code, drive cars, handle work and run the world.

Trezor said its third-party email service provider had been compromised and that a phishing message titled "Critical Security Alert: STM32 Entropy Vulnerability" was spreading from the spoofed sender address help@trezor.io. The hardware wallet maker said the email was not official communication, warned users not to click any links in it and said the malicious domain involved had already been taken down while the incident remains under investigation.

PANews AI Observatory also highlighted several AI headlines from the past 24 hours, including former Anthropic researcher Evan Hubinger saying AI carries an extinction risk above 10%, a view later followed by BBC coverage; OpenAI saying an unreleased model had solved the Navier-Stokes existence and smoothness problem, while NYU professor Tristan Buckmaster accused the company of academic misconduct; and AI alignment researcher Paul Christiano joining the OpenAI Foundation board and its safety and security committee.

Separately, The Wall Street Journal said U.S. President Donald Trump took the stage at American Airlines Center in Dallas to lay out the Republican message for the midterm elections.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.
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