U.S. CFTC Acting Chairman: Enforcement Division Restructured, Refocused on Combating Fraud

Polygon co-founder Sandeep Nailwal has responded to controversial marketing content that sparked debate: Polygon’s official X (Twitter) account posted a “Polygon is not dead” announcement, which was widely interpreted as a jab at the shutdown of Abstract. He stated the content’s actual effect differed from expectations, leading to entirely misaligned readings. Nailwal added that he was also deeply shocked when he first saw the post that morning in Singapore. Sandeep clarified that the Polygon marketing team intended the line as self-deprecating—for a long time, people have been claiming “Polygon is dead”, while the network’s fundamentals have actually remained strong and improving. The team had no intention of referencing Abstract’s shutdown, he emphasized. “I have immense respect for Abstract founder Luca Netz and his team,” Nailwal said. “We would never do that, as Polygon itself has experienced the pain of terminating its own zkEVM.” He also expressed support for Luca and the Pengu team, calling Luca one of the industry’s top entrepreneurs and noting he will continue to back his team.

According to EmberCN’s monitoring, a whale or institutional address has recently deposited margin to three addresses, holding long positions of BTC and ETH worth approximately $352 million on Hyperliquid—including 1,140 BTC and 98,090 ETH. The long positions were established about half a month ago, with an average entry price of around $82,205 for BTC longs and $2,604 for ETH longs. The overall position is currently posting an unrealized profit of roughly $2.66 million.

Two wallets withdrew 114.9M $龙虾 ($6.9M) from #KuCoin and #Gate today, accounting for 11.49% of the total supply.

Stablecoin payment firm Rain has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, with plans to establish Rain National Trust in New York to offer institutional clients digital asset and U.S. dollar custody, stablecoin reserve management, as well as U.S. dollar-pegged stablecoin issuance and redemption services. Rain noted that the proposed trust bank will not take deposits, issue commercial loans or offer consumer accounts, nor will it provide FDIC deposit insurance. Client assets will be segregated from the bank’s own assets, and stablecoin reserves will be directly managed by the bank, reducing reliance on third-party banks for asset custody, reserve management and stablecoin issuance and redemption processes. Rain’s application joins a wave of crypto firms competing for national trust bank charters. Companies including Circle, Ripple, BitGo and Fidelity have previously received preliminary OCC approval, with Circle securing final approval in July this year. However, the charter application still requires OCC review and a public comment period. Last week, the Independent Community Bankers of America (ICBA) sued the OCC, challenging its authority to grant national trust bank charters to crypto firms that do not offer traditional banking services.

Ledger announced at Singapore’s TOKEN2049 conference the launch of its Crypto Loan feature, which allows eligible users to borrow USDC or USDT using cbBTC or WBTC as collateral, enabling them to access liquidity without selling their Bitcoin. The feature is powered by decentralized lending protocol Morpho via technical service provider Yield.xyz. Users can directly create and manage loans, monitor loan-to-value (LTV) ratios, add collateral, repay loans, or increase borrowing limits within the Ledger Wallet. Key operations still require physical confirmation via Ledger’s hardware devices, with private keys and final transaction authorization remaining fully under users’ control. Ledger also announced that its hardware devices will support direct connection to Morpho, eliminating the need for browser extensions or software wallets. The company noted that the Crypto Loan feature will be rolled out gradually to eligible users. This move further advances Ledger’s expansion from a hardware wallet provider into the financial services sector. Previously, Coinbase launched a Bitcoin-backed fixed-rate loan built on Morpho, while JPMorgan is also exploring using Bitcoin and Ethereum as loan collateral.

Binance Alpha announces that Talus Network (US) is now listed on its platform. Users holding at least 246 Binance Alpha points are eligible to participate in the airdrop on a first-come, first-served basis, with a total reward pool of 2,280 US tokens. If the reward pool is not fully distributed, the point threshold will automatically decrease by 5 points every 5 minutes. Note that claiming the airdrop will consume 15 Binance Alpha points. Users must confirm and claim their rewards on the Alpha event page within 24 hours; failure to do so will result in forfeiture of the airdrop.