A newly created crypto address built a position of 57,000 HYPE tokens, valued at approximately $3.36 million.

Ethereum Foundation core developer Sina Mahmoodi announced today that he is formally leaving the organization after over seven years with EF. He joined the Ethereum Foundation immediately after graduating from university in 2019, contributing to projects including EthereumJS (the TypeScript/JavaScript implementation of Ethereum’s execution layer), eWASM (Ethereum’s WebAssembly project), and most notably Geth (Go-Ethereum, one of Ethereum’s most core execution layer clients). Mahmoodi stated that he feels extremely fortunate to have worked alongside some of the smartest and most dedicated people on work he truly believes is meaningful, adding that he is particularly proud of his work on Geth, which has supported Ethereum through various challenging times and become critical infrastructure for its vast ecosystem. His belief in Ethereum remains unchanged: it is an open, global settlement layer that does not rely on any single government, company, or power center, and is worthy of continued development.

Crypto exchange Kraken has launched US stock trading services for eligible clients across all European Economic Area (EEA) member states. The service quietly rolled out recently in Germany, the Netherlands, and France, and is now fully available across the entire EEA. Kraken states it is the only native crypto platform currently offering both US stocks and their tokenized versions in a single regulated account for EEA customers.

According to market data from BIT (bit.com), the storage sector saw sharp declines in pre-market US stocks: SanDisk (SNDK) fell 5.26%, Seagate Technology (STX) dropped 4.34%, Western Digital (WDC) fell 4.88%, Micron Technology (MU) decreased 3.6%, and SK Hynix ADR declined 4.1%.

CryptoQuant analyst Axel Adler Jr. released an analysis showing on-chain data that Bitcoin’s long-term holder cost base stands at $49,400, with a current price multiple of 1.3x. Bitcoin has spent 78 consecutive days in the low-risk zone between the long-term holder cost base and 1.5x that level, where the 1.5x threshold corresponds to a price of roughly $74,100. Long-term holder supply currently sits at 16.35 million BTC, just 58,000 BTC below the all-time high of 16.41 million BTC recorded on July 30. Only two days of supply decline have been seen in the past 15 days, indicating the group’s selling frequency has nearly hit its lowest level. The analyst noted these two signals together point to: valuation remaining low relative to the long-term holder cost base, and long-term holders showing almost no sustained selling signs. He emphasized this combination is a “constructive supply structure” but does not alone constitute an independent signal that a new rally has begun. Current conditions show long-term holders as a whole are still in unrealized profit (price is roughly 30% above the cost base), and the market remains in the lower end of its historical valuation range. However, for a new uptrend to unfold, further confirmation from both demand and price sides is needed. If the price falls below $49,400, long-term holders will collectively shift into unrealized loss, entering a lower-risk zone from a valuation perspective, but meaning significantly rising pressure on long-term holders from a market condition standpoint.

South Korea's Gwangju Metropolitan Police Agency Cyber Crime Investigation Unit announced today that it has detained and referred three suspects, including a 60-something-year-old identified only as A, on fraud-related charges. The gang is suspected of defrauding more than 100 elderly people aged 70 to 80 of a total of about 500 million won between November 2024 and the recent period, under the guise of virtual asset investments. Investigations show the gang set up offices in Seoul, Gwangju, Gunsan (North Jeolla Province), and other locations. It targeted elderly people with limited knowledge of virtual assets via on-site information sessions, using false promises such as "guaranteed principal" and "potential returns of over 10 billion won". The police launched their investigation in March this year following a tip-off from an investment briefing in Gwangju's Western District, arresting suspects one by one by tracing financial transaction flows. The police believe there are still undisclosed victims, are expanding the investigation scope, and remind the public to stay vigilant against investment offers promising guaranteed principal and high returns.

South Korea's Korea Communications Standards Commission (KCSC) held a meeting of its Communications Deliberation Subcommittee today, ruling that overseas prediction market platform Polymarket offered illegal gambling and decided to implement access blocking measures against it. The commission determined that Polymarket's business model is based on outcomes of events beyond users' control, such as politics, sports, elections, and weather, and uses a "winner-takes-all" profit-loss structure that fuels speculative sentiment. The platform operator is responsible for market establishment, trading rule setting, and overall operation and management, providing virtual asset acceptance and settlement systems, effectively creating an environment for collecting and delivering user funds, and earning profits by charging fees on share transactions—violating South Korea's Criminal Act and the National Sports Promotion Act. Polymarket had argued that the platform operates on non-custodial peer-to-peer transactions and smart contracts, and does not directly raise funds, manage funds, or issue sports promotion voting rights. However, the commission responded that technical characteristics such as whether it offers Korean language services, decentralized technology, or centralized trading interfaces cannot be used as grounds to evade the application of South Korea's domestic laws. Given that the platform has actually provided illegal gambling to South Korean users, access blocking is unavoidable to protect domestic users.