Perpetual contracts of US-listed AI concept stocks suffered a flash crash at dawn, with Western Digital tumbling over 7% at one point, while Micron and SK Hynix each dropped more than 6%.

South Korean Finance Minister Lee Hyung-il said Saturday that the semiconductor industry boom will last at least until 2027. In an interview with CNBC on the sidelines of the International Monetary Fund and World Bank Annual Meetings in Bangkok, Lee stated: "Currently, we judge this round of growth can hold steady at least until next year, as the semiconductor supply-demand gap remains massive and the supply side is still expanding." Lee added that chip stocks have amplified volatility in South Korea’s stock market this year. He noted that the semiconductor industry makes up a larger share of South Korea’s economy than in other nations, which has led to sharp market swings. However, he emphasized that despite these market fluctuations, South Korea’s economic fundamentals remain robust.

pump.fun has launched perpetual contract trading powered by Hyperliquid. Its fee terms disclose that when users trade on Hyperliquid via the perpetual contract feature, the platform will charge a builder fee of up to 0.10% of the nominal value of each submitted order, applicable to opening, adding to, and closing positions. Users must authorize via signature when using the feature for the first time, and fees will be itemized separately before order confirmation. When transferring assets to or from Hyperliquid via the in-app cross-chain function, pump.fun charges an additional fee of up to 0.25% per transaction. Combined with fees from the bridge service operator itself, the two may be merged and displayed as a single cross-chain fee on the interface. Hyperliquid’s trading fees, funding fees, and one-time account activation fee deducted during first deposit are all charged by third parties, not pump.fun. The "platform fee" as defined in the terms does not apply to orders for this feature.

According to on-chain analyst Yu Jin’s monitoring, the whale that opened roughly $187 million in high-leverage long positions on the early morning two days ago, betting on a rebound, has had some of its positions liquidated. The whale’s long position of 4,890 ETH, valued at around $11.74 million, was liquidated at $2,356 during today’s 5 AM early morning dip. This liquidation price exactly matches the low point of ETH’s recent early morning flash price pin, and this liquidation may have helped drive the formation of that low.

Goldman Sachs, Wells Fargo, and Morgan Stanley all viewed tokenization as a business growth opportunity during their third-quarter earnings calls, though none provided specific revenue projections for the sector. Goldman Sachs CEO David Solomon noted that tokenization, decentralized finance (DeFi), and prediction markets could drive more products, trading activity, new clients, and distribution channels. The bank is exploring expanded use of Depository Trust & Clearing Corporation (DTCC) tokenization services to cut costs, automate trades, and enhance the efficiency of asset transactions, though its related business remains small for now. Wells Fargo has already leveraged tokenized deposits to process cross-border payments, with funds reaching recipient accounts in as little as two minutes, though transaction volumes remain low at present. Wells Fargo CFO Michael Santomassimo stated that the technology could help the bank expand its cross-border payment business without building out an extensive network of international branches. The bank is also exploring tokenized securities, real-world assets (RWA), and crypto trading services for wealth management clients, though it has not announced a launch timeline. Morgan Stanley CFO Sharon Yeshaya noted that tokenization can speed up and simplify asset transfers, though clients still require investment advice. The bank views the space as a new business opportunity, and did not announce any new products during the calls.

NFT project Bored Ape Yacht Club (BAYC) has officially launched Mudwater, a Solana-based series of physical and digital collectible trading cards. The project has also airdropped 6551 Totems paired with all BAYC and MAYC NFTs, which are used to claim card packs. Holders of each BAYC NFT can claim 10 packs, while each MAYC NFT entitles holders to 2 packs. Each pack includes 10 cards, each box holds 24 packs, with a total of 10,000 boxes in the series. The collection comprises 120 artworks, with rare variants including flash cards, numbered cards, and ice crack rare cards; 8 of these ice crack cards are 1/1 unique editions. Physical cards are printed by Orange Cap Games using its Orange Core paper. 2.5% of every transaction will be used to purchase APE tokens, distributed proportionally to collectors holding Mudwater series assets. Totems, card packs, and cards are now tradable on OpenSea, with plans to add support for upgrading card packs to full boxes and cases in the future.

According to monitoring by Onchain Lens, two whale wallets dormant for 12 to 13 years have transferred a combined 416.6941 BTC (valued at approximately $33.82 million) to the same address. Specifically, the wallet dormant for 13 years sent out 167.8402 BTC worth around $13.62 million, while the 12-year-dormant wallet transferred 248.8539 BTC valued at roughly $20.20 million. The original value of these BTC was about $105,400, marking an increase of approximately $33.71 million from their initial worth.