PANews’ daily crypto briefing led with a fresh batch of on-chain transfers tied to US government wallets. According to on-chain analyst EmberCN, the wallets sent 5,382.1 BTC worth $448 million to Coinbase Prime from last night into the early hours of today. Over a 32-hour window, the addresses moved about $670 million in tokens in total, including 6,215.7 BTC worth $520 million, 119 million USDT and 40,285 BNB worth $31.63 million. EmberCN said all of the BTC and USDT went to Coinbase Prime.
The same roundup also cited another 24-hour view of activity from the government-linked wallets. In that period, the addresses moved $165 million in assets, including 1,583.8 BTC worth $134 million to Coinbase Prime. After an earlier transfer of $103 million in assets, the wallets then sent another 750.2 WBTC worth $62.34 million to Coinbase Prime 15 minutes later.
Policy and macro
According to The Block, Standard Chartered’s Singapore branch plans to offer custody services for selected crypto assets, stablecoins and tokenized real-world assets to institutional investors. The offering would add to the bank’s existing digital asset custody footprint, which already covers the UAE, Luxembourg and Hong Kong.
Minutes from the Federal Reserve’s September policy meeting showed that all participants supported raising the target range for the federal funds rate by 25 basis points to 3.75% to 4.00%. Most officials said one more rate increase before year-end could be appropriate. The minutes also said officials broadly saw inflation risks as tilted to the upside, while some pointed to AI infrastructure buildout as a factor that could push medium-term aggregate demand above aggregate supply.
US Treasury yields continued to rise. As of publication, the 10-year Treasury yield had climbed to 5.33%, while the 30-year yield reached 5.711%, up more than 6 basis points on the day and at its highest level since 2002.
Project and company updates
Binance said in an official notice that its US stock trading service will be temporarily unavailable during a partner broker system upgrade. Users will not be able to submit stock trading orders from 18:50 to 21:00 Beijing time on Oct. 10.
In South Korea, Bithumb said it will list PONS in the KRW market, with trading expected to open at 15:00 local time. Upbit said it will list PONS in the KRW, BTC and USDT markets, with trading set to begin at 14:00 local time on Oct. 8. Bithumb also said it will add AIA and CASHCAT in the KRW market, with exact opening times to be announced separately. Coinbase said it will launch spot trading for Pons (PONS) on Oct. 8, and the PONS-USD pair will open later in the day in supported regions if liquidity conditions are met.
Cointelegraph responded to reports that it was up for sale, saying a CoinDesk article was based on false information and contained multiple factual errors. The company said plainly that it 「will not be sold」. It added that it welcomes scrutiny but will not stay silent when speculation is presented as fact, and it called on the outlet involved to correct the report, acknowledge the errors and give the correction the same level of visibility.
CoinDesk, for its part, had reported that Cointelegraph was looking for a buyer, citing people familiar with the matter. That report said the media company had been hit hard by Google, and that after a manual penalty in October 2025, its organic traffic fell by about 80%. Similarweb data cited in the story showed the site had more than 12 million monthly visits in December 2024, but just over 700,000 monthly visits as of Sept. 1. The report also said the company was founded in 2013 and has more than 200 employees.
Sui said it is working on integration with Samsung Wallet and expects the move to let about 82 million Galaxy devices in the US support USDC transfers on Sui. The service includes gas-free transfers. The rollout will start in the US before expanding to other markets.
Hunter Biden released the findings of an independent review into the LAPTOP token launch and denied that the team sold into the market. The review said market maker 1 deployed only about $5,200 and tokens equal to 0.003% of total supply, while the token price jumped from $0.05 to about $317 in two minutes before dropping 98% within an hour. Market maker 1 made about $686,000 in profit, and market maker 2 recorded more than $2.1 million in net profit. Hunter Biden said he would take final responsibility and plans to burn most of the unclaimed first-round airdrop tokens next week, representing 10% of total supply.
According to CoinDesk, crypto trading and market-making firm GSR will commit $100 million to a new on-chain credit business called Hare. The project is being built together with liquidity distribution platform Turtle and is focused on creating and managing on-chain vaults. GSR’s multi-year commitment will mainly come in the form of credit lines and anchor liquidity. Hare’s first two products are Aave-based: Hare USD Earn, which offers yield on deposited dollar stablecoins, and Hare Gold Earn, aimed at PAXG and PAXGy holders. Paxos Labs is also involved.
Gate founder and CEO Dr. Han announced the launch of Gate Money on the main stage at TOKEN2049 in Singapore. The product links fiat, digital assets, stocks, payments and asset management services, covering scenarios such as holding assets, receiving funds, transfers, payments, exchange and yield. Users can access it after updating Gate App to v8.39.0. Gate said entities under its umbrella have obtained a MiCA license and a PSD2 payment institution license in Malta, a VARA license in Dubai, and registration in Australia, bringing its compliance footprint to 81 regulated jurisdictions worldwide.
Funding deals
Stablecoin payments infrastructure company Noah said it raised $38 million in seed funding from Endeit Capital, FJ Labs, LocalGlobe, Felix Capital and several angel investors. The company said the new capital will be used to expand international remittance operations, broaden its regulatory reach and provide stablecoin-based cross-border payment services for businesses and individuals.
Robotics data startup Mecka AI raised $60 million in a Series B led by Sequoia Capital, with participation from Nvidia, Microsoft’s M12, Qualcomm and Samsung Electronics. The company focuses on collecting and analyzing human motion data to train humanoid robots and related systems. Earlier reports had pegged its valuation at about $500 million.
Fortune reported that crypto proprietary trading platform Vest raised $13 million in seed funding led by Portal Ventures. Individual investors included executives from Citadel Securities, BlackRock and KKR. Vest allows qualified traders to trade real perpetual futures around the clock and share profits with traders. The round closed in July and was disclosed only recently.
The Wall Street Journal reported that Nous Research, the developer behind the open-source agent Hermes, raised $90 million at a $1.5 billion valuation. The company plans to bring its open-source AI assistant tools to enterprise users. The report said Hermes, available in local and cloud versions, can search, write code and interpret images, and can also learn from user behavior to expand its capabilities.
Views and market calls
Ethereum co-founder Vitalik Buterin said users should not rush to move funds into new wallets, but should take seriously the risks that AI-accelerated math could pose to cryptography. He said users should reduce reliance on cryptographic schemes that may be vulnerable to quantum computing and AI attacks. In his view, the new core risk areas are ML-DSA, FHE and lattice cryptography, and progress in AI-driven mathematics over the next two years could materially weaken the practical security of lattice-based algorithms.
His recommendations included prioritizing hash-based schemes, being cautious about parameter sizes in lattice-based designs, avoiding posting encrypted notes on-chain in privacy protocols and sending them off-chain through third parties instead, keeping funds in addresses that have not been used for trading, and preferring off-chain confirmation for multisig setups. He added that if ECDSA were ever broken, the setup could 「degrade gracefully」 into a 1-of-1 mode.
Crypto trader Doctor Profit said that when Bitcoin topped near $124,000 last year, he closed holdings and opened a large short position. He later closed that trade near $60,000 during the 「1011」 market sell-off and switched into spot buying. He said he has now built new BTC shorts in the $86,500 to $89,500 range and placed large short orders between $88,000 and $89,500.
Key data and on-chain flows
According to data tracked by Ai Yi, one smart-money address appears to have reduced HYPE holdings worth $11.77 million over 10 days, with an entry cost as low as $3.87. Address 0x13d…cfa8a has sent 131,421 HYPE to Kraken since Sept. 28 at a transfer price of $89.56. If sold, the position would yield a profit of $11.26 million, implying a return above 2214%. The roundup also noted that Hyperliquid Labs announced on Sept. 30 that it would sell 3.75 million HYPE over the counter, worth about $329 million, to a single institution that would not sell through the public market. The smart-money wallet’s first suspected sale came before that announcement.
SoSoValue data showed US spot Bitcoin ETFs posted a net outflow of $487 million on Oct. 7, Eastern Time. BlackRock’s IBIT led the outflows with $208 million on the day, though its cumulative historical net inflow still stands at $65.717 billion. Fidelity’s FBTC saw $105 million in net outflows, with cumulative net inflows of $10.716 billion. Total net assets across spot Bitcoin ETFs were $107.401 billion, with a net asset ratio of 6.41% and cumulative historical net inflows of $57.330 billion.
Spot Ether ETFs also saw money leave. On Oct. 7, total net outflows reached $161 million, extending the streak to seven straight days. BlackRock’s ETHA posted $116 million in daily net outflows, while cumulative historical net inflows remained at $12.920 billion. Grayscale’s ETHE saw $25.7676 million in net outflows on the day, taking its cumulative historical net outflows to $5.467 billion. Total net assets across spot Ether ETFs were $16.402 billion, with a net asset ratio of 5.22% and cumulative historical net inflows of $13.389 billion.
Lookonchain said AguilaTrades, a trader who had previously suffered 33 liquidations and cumulative losses of $37.64 million, returned to the market after more than six months of inactivity. The trader deposited 499,000 USDC into Hyperliquid and opened a 40x leveraged long on 200 BTC worth $16.58 million. The liquidation price was listed at $81,466.75.
EmberCN also said whale wallet pinosaur.eth fully exited 9,618 ETH worth $24.58 million after holding the position for nine years and sent the funds to Kraken six hours earlier. The realized profit was $24.21 million, equal to roughly 65x. The ETH can be traced back to April 2017, when 7,459 ETH were withdrawn from Bitfinex at a price of just $50.
The roundup further noted that another whale moved 4,500 BTC worth about $376 million after more than four years of dormancy.
In a separate HYPE-related update, EmberCN said Hyperliquid development team HyperLabs redeemed 3.75 million HYPE worth $332 million eight hours earlier. Four hours later, the tokens were split across five wallets and then consolidated into address 0x875...1d1, which was described as a suspected OTC buyer. Of that amount, 1.25 million HYPE worth $110 million was staked again, while 2.5 million HYPE worth $220 million remained in the wallet.
ARK Invest also sold 151,903 shares of Robinhood stock worth $16.6 million.