STRC’s correlation with Bitcoin hits an all-time high, weakening its stable income attribute.

Bluewater announced it has completed the acquisition of Sui ecosystem lending protocol Suilend. The deal covers Suilend and its ecosystem products STEAMM and SpringSui, marking the start of a new development phase for Suilend. Following the acquisition, Suilend will continue to operate as an independent platform, retaining its original brand, product roadmap, and infrastructure, while receiving long-term capital and operational support from Bluewater. Bluewater stated that the two parties have collaborated for nearly three years, and it highly recognizes Suilend’s product quality, execution capability, and security standards. Going forward, the two sides will gradually advance deep integration of trading, lending, collateralization, liquidity, and yield products, though Bluefin and Suilend will remain separate brands, infrastructures, and legal entities. Bluewater emphasized that this transition will be carried out in a phased manner, with multiple audit firms involved. Users do not need to take any action, and existing positions, deposits, and protocol functions will remain operational during the transition period. In addition, Bluewater noted that the SEND token is not included in this acquisition. SEND will be handled separately by the existing Suilend team, and will be distributed to token holders as the project is gradually wound down, with relevant details to be announced later.

According to EmberCN’s monitoring, Hyperliquid’s largest long-position trader continued adding to his positions after Bitcoin fell to $59,000. He opened 500 BTC long positions via three wallets at an average price of $59,261, worth approximately $30 million. To date, the trader holds a total long position of around $445 million, including 120,000 ETH and 2,500 BTC. The average entry price for his ETH long positions is $2,261, while that for BTC long positions stands at $69,560. As of now, the trader’s overall unrealized loss has widened to roughly $110 million.

According to Bitget market data, South Korea’s KOSPI index plunged 4.00% intraday, now standing at 8572.69 points. SK Hynix declined 4.32%, while Samsung fell 4.04%.

Due to market concerns that OpenAI may delay its IPO until next year, which would delay returns for its Japanese investors, SoftBank Group’s stock fell 12% during intraday trading. As of October, SoftBank’s investment in ChatGPT developer OpenAI is projected to reach roughly $65 billion. Earlier, market expectations of massive gains from OpenAI’s IPO had pushed SoftBank’s stock to record highs, lifting its market capitalization above Toyota Motor Corp. last month. However, per a New York Times report, OpenAI’s advisory bankers warned that tech stock volatility could dampen market enthusiasm for the IPO. As a result, SoftBank’s stock posted its largest single-day drop in Tokyo in over three months during Friday’s morning trading session. Hiroki Takei, a strategist at Resona Holdings, noted that an OpenAI IPO would provide transparent market valuations for the vast assets SoftBank holds, as its portfolio includes hundreds of unlisted startups. If OpenAI goes public, investors will find it easier to assess SoftBank’s overall portfolio, and this transparency is expected to reduce the significant conglomerate discount or risk premium currently weighing on SoftBank’s shares. “News of a delayed IPO will naturally lower these expectations,” he said.

According to monitoring by AI Auntie, new address 0x643…CF565 withdrew $1.35 million worth of ETH and $2.87 million worth of HYPE from FalconX for the second time in a week. The address currently holds $14.5 million in ETH and $9.61 million in HYPE, with average withdrawal prices of $1,691.58 for ETH and $66.5 for HYPE, resulting in a cumulative unrealized loss of $1.792 million.

International oil prices have quickly fallen back to pre-US-Iran conflict levels, erasing all gains made during the conflict in just 11 days – a move that has surprised markets widely. Brent Crude dipped as low as $72.06 on Thursday, breaking below the pre-conflict last trading day’s settlement price of $72.48, and has plunged more than 39% from its March peak of $118.35. WTI Crude closed at $71.92, down roughly 36% from its high. This round of decline has far outpaced expectations. The industry had widely estimated that mine clearance in the strait would take time and Gulf production capacity would need months to recover, but actual progress has been much faster. JPMorgan analysts noted that the market rebalanced through a "distinctly different combination of demand loss and inventory drawdown", which is very different from initial assumptions. However, the rapid easing may not be stable. S&P Global data showed that 78 oil tankers transited the Strait of Hormuz on Wednesday, hitting a post-conflict high, but this is still only 57% of pre-conflict levels, with many of these vessels being those trapped earlier and departing in a concentrated manner. TD Securities’ head of commodity strategy warned that the market may have overestimated the pace of supply and inventory recovery, and inventory pressure has become a key variable. U.S. Cushing inventories fell to 19 million barrels last week, about 1 million barrels below the level needed to keep the system stable. TD Securities forecasts that an additional 600 million barrels of global inventory may be drawn down by October; once inventories fall below a critical threshold, oil prices could rebound quickly. For the outlook, Mizuho Securities analysts believe the market is already in an "oversold" state, and expect oil prices to rebound to the $80 range in the coming weeks. Full production recovery in countries like Iraq and Kuwait is not expected until this autumn, when the supply-demand pattern may change again.