Coinbase to List Perpetual Contracts for SK Hynix and Lumentum

The Linux Foundation has launched the x402 Foundation to develop open payment standards for AI agents, APIs, and applications. The new foundation’s 40 members include AWS, Google, Visa, Mastercard, Stripe, Coinbase, Ripple, and Circle.

According to trade.xyz market data, the CXMT (Changxin Technology) contract on the platform surged sharply after its price protection mechanism was lifted, now trading at $8.48. Based on the post-IPO total share count of approximately 6.688 billion shares disclosed in the prospectus, its corresponding market capitalization hits 3.8 trillion RMB. Notably, since the price protection mechanism is triggered when the deviation between the underlying asset’s marked price and the oracle price is excessive, the current open interest of this contract amounts to $6.01 million, with a trading volume of $5.13 million.

South Korean President Lee Jae-myung said South Korea’s stock market, after a sharp rally in a short period, needs time to stabilize. Speaking at a policy meeting with senior government officials in Seoul on Wednesday, Lee stated, “South Korea’s domestic stock market is currently quite unstable. Given that the market has seen an unprecedented sharp rally in such a short timeframe, it will take time and a certain level of volatility to stabilize.” Lee acknowledged recent controversies surrounding leveraged ETFs, and urged heads of the Financial Supervisory Service (FSS) and Korea Exchange (KRX) to promptly address the issues and formulate follow-up response measures. Market analysts expect regulators will take steps to curb the impact of such high-risk products on market stability, including potentially raising the minimum margin requirements for investing in leveraged ETFs. South Korea’s largest opposition party, the People Power Party, on Tuesday accused the Lee Jae-myung administration of setting ambitious stock market goals while ignoring accumulating leverage risks, thereby encouraging excessive risk-taking.

Today, trade.xyz, a platform in the Hyperliquid ecosystem, launched contract trading for Changxin Memory Technologies, a popular market asset, making TradFi once again a hot topic in the crypto market. Likely boosted by this news, HYPE’s price started rebounding at 10 o’clock, according to HTX market data, currently trading at $67.254, with a 24-hour increase of 6.52%.

According to Bitget market data, South Korea’s KOSPI index rose to 7,400 points, with an intraday gain of 7.94%. SK Hynix is currently up 12%. Additionally, the Hong Kong-listed Southern 2x Leveraged Long SK Hynix product saw an intraday increase of over 22.7%, trading at HKD 80.16.

According to Lookonchain’s monitoring, a crypto whale has just cashed out $2.85 million in CASHCAT, securing an eye-popping 952x return on investment. The whale spent 1.6 ETH (valued at $3,000) to acquire 16.3 million CASHCAT tokens, then sold all of them for 1527 ETH (worth $2.855 million), locking in a $2.85 million profit.