Coinbase CEO calls for federal governance experiments, proposing to pilot reforms including regulatory relaxation via an innovation sandbox.

According to TradingBeats monitoring, two whale traders using 40x full leverage opened short positions around $81,700 today and are now facing liquidation pressure as prices rebound. Their combined Bitcoin (BTC) short positions amount to roughly $21.62 million, with details as follows: The whale wallet starting with 0x4b62 opened a short position of 101.82 BTC at an average price of $81,771, with a position value of approximately $8.4086 million and an unrealized loss of around $82,200. Its liquidation price is $82,731.81, only $153 (0.19%) higher than the current market price. The other whale wallet starting with 0x1f25 opened a short position of 200 BTC at an average price of $81,743, before 40 of its positions were partially liquidated, incurring a loss of roughly $38,500. It currently holds 160 BTC in short positions, valued at about $13.2126 million, with an unrealized loss of approximately $133,700; its liquidation price is $82,959.25, around $380 (0.46%) higher than the current price.

Co-founder of darknet marketplace Empire Market, Raheim Hamilton, has been sentenced to 40 years in federal prison and agreed to forfeit 1,230 bitcoin (BTC) worth approximately $101 million. According to the U.S. Attorney’s Office for the Northern District of Illinois, the 30-year-old Virginia man also agreed to forfeit 24.4 ether (ETH) valued at around $60,000, plus three real estate properties. A federal judge in Chicago simultaneously imposed a $5 million fine on him. Prosecutors stated that Hamilton and his accomplice Thomas Pavey operated Empire Market from 2018 to 2020, facilitating over 4 million transactions totaling more than $430 million, including nearly $375 million in drug sales. The pair also sold stolen account credentials, personal data, counterfeit currency, and hacking tools, requiring customers to use cryptocurrency and encouraging the use of mixing services to obscure fund flows. Pavey pleaded guilty to federal drug conspiracy charges last year, and has forfeited 1,584 BTC, as well as interests in gold, three vehicles, and two properties; he is scheduled to be sentenced later this month.

According to Lookonchain’s monitoring, well-known leveraged trader AguilaTrades was liquidated 10 minutes ago, suffering losses on both long and short positions. He first incurred a $331,000 loss from his long Bitcoin (BTC) position, then reversed to a short position only to be liquidated again.

AguilaTrades(@AguilaTrades) got liquidated 10 minutes ago! AguilaTrades got wrecked on both sides! He lost $331K going long on $BTC, then flipped to short and got liquidated.

Flash News from Beating AI: Tesla’s official AI account on X has been renamed Tesla Super Intelligence, with its username changed from @Tesla_AI to @TeslaSI. Earlier, on September 29, U.S. President Trump signed an executive order requiring federal agencies to replace "artificial intelligence" (AI) with "superintelligence" (SI), though the mandate does not apply to private enterprises. Musk later publicly stated: "It’s better to call it SI instead of AI." When a X user asked if he would rename SpaceXAI to SpaceXSI, he replied: "It will be changed." Now, Tesla’s account has officially followed suit with this naming convention.

The Securities Industry and Financial Markets Association (SIFMA)’s trading holiday schedule shows that the U.S. cash bond market will be closed next Monday (October 12). October 12 is Columbus Day, a U.S. federal statutory holiday, though holiday observances vary across regions. For financial markets, U.S. stock markets will open as normal, and CME’s U.S. Treasury futures will also trade regularly, but the U.S. cash bond market will remain closed for the entire day. It should be noted that U.S. cash bonds and U.S. Treasury futures are distinct products: cash bonds refer to actual issued instruments such as U.S. Treasuries, corporate bonds, and commercial paper, while U.S. Treasury futures are standardized futures contracts with U.S. Treasuries as the underlying asset.