ImportantPANews
A Whale/Institution May Have Sold Over 910,000 HYPE, With an Estimated Profit of $8.03 Million
Per on-chain monitoring, 912,383 HYPE (worth approximately $82.09 million) was aggregated and transferred to the institutional trading platform FalconX by a whale or institutional entity 2 hours ago. These HYPE tokens were accumulated 1 to 2 months ago via Coinbase Prime and FalconX at an average price of around $81. The transfer was executed at a price of $90 today, yielding an estimated profit of $8.03 million.
- #Whale
More flash news
View alla16z Frontier, DeFi Education Fund, and Uniswap Oppose Illinois Digital Asset Tax Act and Related Rules
a16z Frontier, DeFi Education Fund, and Uniswap jointly submitted a comment letter opposing the Illinois Digital Asset Tax Act. Miles Jennings, Head of Policy at a16z Frontier, stated that this act is one of the most anti-innovative pieces of legislation in the United States, imposing taxes solely on the grounds that transactions are in "digital" form. The proposed rulemaking far exceeds statutory authority, seeking to classify many DEXs as "brokers" obligated to collect and remit taxes on behalf of the state. He pointed out that autonomous software is not a "person" capable of collecting taxes and cannot comply with such requirements; this move conflicts with the U.S. Treasury Department's classification of DEXs and Illinois' own Digital Asset and Consumer Protection Act. The rules even impose taxes on residents when no transaction has occurred, analogous to levying a tax when transferring funds from a checking account to a savings account.
Ethena Deposits 128.6 Million ENA to Binance, Valued at Approximately $24.33 Million
Over the past 2 hours, Ethena has deposited 128.6 million ENA, valued at roughly $24.33 million, to Binance. Binance is currently repurchasing stolen assets via on-chain and off-chain transactions to cover the asset gap in its Proof of Reserves (PoR). This transfer is speculated to be related to Binance's off-market purchase of ENA from Ethena. The quantity of ENA stolen from Binance yesterday stood at 217.5 million units.
OpenAI Cuts Funding Target by $10 Billion, Valuation Adjusted Down to $1.25 Trillion
OpenAI has reduced the target size of its latest funding round by $10 billion and is currently working to finalize the deal. The funding round has been overshadowed by a sell-off in publicly traded AI stocks and the upcoming public listing of its largest rival Anthropic. ChatGPT developer OpenAI originally planned to raise $300 billion at a $1.4 trillion valuation last month, marketing the transaction as the last opportunity for investors to take a stake in OpenAI ahead of its IPO next year. At the time, OpenAI justified the near-doubling of its valuation from the previous $852 billion by citing rapid revenue growth since July. However, as tech stocks face a sharp sell-off and market concerns over the scale and growth pace of AI spending intensify, OpenAI has begun to lower its fundraising expectations.
Circle Expands CCTP Support From USDC to All Types of ERC-20 Tokens
Circle will enable its Cross-Chain Transfer Protocol (CCTP) to support other ERC-20 tokens in addition to USDC. Under this change, token issuers can issue new CCTP-compatible tokens or connect existing ERC-20 tokens to enable transfers across multiple blockchains. This transfer model burns tokens on the source chain and mints an equivalent amount of tokens on the destination chain. Circle has also published a guide on how to implement this functionality on the Arc blockchain testnet.
Chainalysis Suffers Hacker Attack, Customer Data Including Names, Emails and Organizational Roles Leaked
Chainalysis, a firm specializing in tracking cryptocurrency hackers, has itself fallen victim to a cyberattack. In an email sent to its customers, Chainalysis stated that an external party exploited "aggressive proxy techniques" this month to gain unauthorized access to Chainalysis's systems and internal tools. Certain non-sensitive customer data, including user IDs, names, email addresses, and organizational role tags, was accessed. Chainalysis emphasized that there is no indication that these incidents resulted in unauthorized access to investigation content (such as association graphs, notes, or case information), transaction or query results, plaintext passwords, multi-factor authentication (MFA) keys, or user session tokens. The company stated that this security incident is unrelated to the recent cryptocurrency theft incident involving Binance.