Trader Maji cuts long positions in Bitcoin and Ethereum, incurring $1.42 million in account losses over the past 24 hours.

Payy Network, a privacy-focused stablecoin payment network, officially confirmed that its cross-chain contract on Ethereum was hacked, leading to the theft of all its balances. The investigation is ongoing, and all transactions on Payy Network—including deposits, withdrawals, and transfers—have been suspended. Payy has notified law enforcement and is collaborating with multiple incident response organizations. Earlier today, Specter Investigation detected that Payy Network was suspected of being attacked, with approximately 1.8 million USDC transferred out. The attacker obtained initial funds via the privacy protocol Railgun before converting the stolen USDC into ETH and dispersing the funds to three addresses.

Asset issuance protocol Doppler Finance announced that its token XDP will launch on September 28. Earlier on August 27, the protocol unveiled plans to launch XDP, its native utility and governance token, with a total supply of 10 billion tokens. Over half of the supply will be allocated to ecosystem development, treasury programs, strategic partnerships, and community growth. XDP’s initial core function is as the protocol’s native utility and governance token; users will later be able to stake XDP to access advanced vaults and strategies, gain priority access to new products, participate in designated ecosystem activities, and utilize other protocol features, with specific staking mechanisms to be announced separately. The genesis airdrop for XDP will distribute 1% of the total supply to early users, contributors, and supporters, all of which will unlock at the Token Generation Event (TGE). An additional 43% of the supply is earmarked for ecosystem and incentive programs, including future Doppler point campaigns, XDP staking, and other community initiatives. The official contract address for XDP has not been released, so users are advised not to interact with any so-called XDP tokens that appear prematurely.

Serenity noted that while the AI infrastructure and Neocloud sectors declined overall, Nebius (NBIS) bucked the trend to rise by roughly 6%—a relative strength that stands out sharply. Oracle issued a force majeure notice over its large Project Jupiter data center in New Mexico, which may miss its 2028 opening target, in an effort to fend off rising cost risks. This underscores how full-stack delivery and large-scale project execution risks are weighing on the sector, while NBIS has relatively avoided such troubles. Serenity further pointed out that even if its core business continues to surge after 2027, the market may still be underestimating the growth potential of Nebius’s various business segments. Nebius is the "purest and most asymmetric Neocloud play", with none of the full-stack execution uncertainties seen in IREN or ORCL, no high-interest debt pressure like CRWV or APLD, and none of the unstable large-client contract issues plaguing some mining firms that have transitioned to cloud services.

According to HTX market data, Backpack’s platform token BP has surged to nearly $1, trading at $0.96 as of press time, with a 24-hour increase of 19.8%. On the news front, BP has been recently driven by positive momentum from the SEC’s approval of limited tokenized stock trading on on-chain platforms. On July 10 this year, Backpack announced the launch of a 24/7 real US stock trading market for international investors, allowing eligible users to trade and hold actual US stocks around the clock rather than synthetic derivatives. Backpack stated that the platform offers actual equity ownership, leverages liquidity from traditional trading platforms, and supports instant settlement, continuous price discovery, as well as fiat and stablecoin settlements. For more information, see the report titled "Why Did BP Suddenly Rise? Backpack Is Gaining a New Valuation Logic".

According to Bitget's market data, both WTI and Brent crude oil have continued to rise, with each gaining over 3% intraday, trading at $94.88 per barrel and $101.78 per barrel respectively.

Tom Lee, chairman of BitMine, an Ethereum treasury firm, said that Robinhood’s choice of Ethereum as the infrastructure for its related businesses is primarily driven by the network’s security and liquidity, rather than low transaction fees. Ethereum’s value proposition is gradually moving beyond simply earning transaction fees; the network no longer needs to maximize gas fees or extract more value from projects built on it to drive growth. Meanwhile, ETH is gradually evolving into a store-of-value asset, with users holding it for its practical utility and appreciation potential.