ImportantPANews
a16z 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.
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More flash news
View alla16z-Affiliated Entity Allegedly Dumps 118,000 HYPE Worth Approximately $10.7 Million
Per on-chain analytics monitoring, an entity associated with a16z has allegedly been offloading HYPE worth $10.7 million since yesterday. Following the disclosure of the Binance security breach, the entity transferred 118,000 HYPE in batches to Wintermute, Galaxy Digital, and Cumberland at an average price of $90.72. The purpose of these transfers remains unknown, with the most recent transaction occurring 10 hours ago.
Two Whales Accumulate Over $29 Million Worth of ETH in Combined Purchases
Multiple whale addresses are actively accumulating ETH. 4 hours ago, the whale address 0x72e0 received 9,625 ETH worth $21.57 million from FalconX. 8 hours ago, the newly created wallet address 0x2908 withdrew 3,377 ETH worth $7.52 million from OKX.
"Set 10 Major Goals First" Whale: Has Reduced Two-Thirds of Bitcoin Position, Will Fully Repurchase All BTC at $76,000-$78,000 Later
The crypto whale behind the "Set 10 Major Goals First" account posted on Twitter again after 22 days, stating that it reduced two-thirds of its BTC position at the $76,000 level to hedge against extreme market scenarios, and will subsequently buy back its entire BTC position in the $76,000 to $78,000 price range. The whale noted that $58,000 marks the bottom of this current BTC cycle. Even though the price dipped below $78,000 amid a black swan event, the bull market has already commenced. It projects the first phase top of this bull market to reach $118,000, the second phase top to hit $150,000, and believes BTC will touch the $120,000 level within this calendar year.
Hacker Group That Attacked Binance Transfers 120 Million TRX, Followed by Further Dispersed Transactions
According to Onchain Lens monitoring, the hacker group that attacked Binance used automated transfers to repeatedly split funds across multiple wallets, route funds back to previous addresses, and then redistribute them to new target addresses to obfuscate fund flows. Most recently, an additional 120 million TRX (approximately $38.78 million USD) was transferred, followed by further dispersed fund distribution transactions.
TRM: 34 Casinos in Cambodia Received $1.07 Billion in Crypto Assets, 64% of Funds Flowed to Casinos Linked to OFAC-Sanctioned Networks
According to TRM data, between January 1 and September 7, 2026, 34 physical casino entities located in Sihanoukville, Cambodia, received a total of approximately $1.07 billion in cryptocurrency. 64% of these funds were directed to casinos associated with networks sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), and 99.9% of the total funds were transferred in the form of USDT on the TRON blockchain. Monthly inflows averaged $148 million from January to May, before declining to roughly $95 million in July and August, though inflows have not ceased entirely.
