Stolen assets from Bitget total approximately $357 million, including around 103 million XRP and 31,890 ETH.

Prominent crypto trader Bonk Guy has published a post addressing public skepticism over his long-term refusal to sell tokens, with some speculating his holdings may be linked to market makers or funds. He explained that holding high-conviction assets long-term is his trading strategy, adding he does not believe a token’s price rally requires it to be sold, and his holding period differs from that of other market participants. In the previous market cycle, some mainstream meme coins reached market caps of over $1 billion, while top-performing meme coins and protocols hit valuations of $4 billion to more than $5 billion. He anticipates the current cycle could deliver stronger performance, so he is in no rush to offload his core holdings right now. He noted that PONS is the highest-conviction utility token in his portfolio, with a current market cap of roughly $400 million; USELESS is his most favored meme coin, boasting a market cap of around $270 million. Both tokens have yet to reach a $1 billion market cap, and their valuations are significantly lower than those of leading projects in the previous cycle.

Per HTX market data, Backpack’s native token BP has surged past $1.27 to hit a new all-time high, trading at $1.277 as of press time, with a 24-hour gain of 48%. The rally is driven by recent positive news: the SEC’s approval of limited tokenized stock trading on on-chain platforms. On July 10 this year, Backpack announced the launch of a 24/7 real US stock trading market for international investors, allowing eligible users to trade and hold actual US stocks around the clock, rather than synthetic derivatives. Backpack stated that the platform offers actual equity ownership, leverages liquidity from traditional trading venues, and supports instant settlement, continuous price discovery, as well as fiat and stablecoin settlements. For more details, see the report titled "Why Did BP Suddenly Surge? Backpack Is Gaining a New Valuation Logic".

Per Lookonchain’s monitoring, wallet 0x6436 associated with Hyperliquid Strategies has purchased 494,200 HYPE tokens (valued at approximately $45.8 million) over the past 16 hours. Over the past month, the wallet has accumulated a total of 5.51 million HYPE tokens (worth around $476 million), averaging 183,574 HYPE (about $15.86 million) in daily purchases. Hyperliquid Strategies currently holds a total of 35.1 million HYPE tokens, with a value of roughly $3.2 billion.

According to on-chain detective Specter’s monitoring, by tracing on-chain fund flows, North Korean hacking group Lazarus Group is suspected to be the behind-the-scenes attacker of the Bitget theft. The incident is linked to the AFX attack that occurred in July this year, which caused approximately $24 million in losses and was attributed to TraderTraitor, an entity associated with Lazarus Group. The stolen XRP from Bitget, after cross-chain transfers, has a fund trail directly connected to the funds stolen in the AFX attack.

Wallet 0x6436, linked to Hyperliquid Strategies Inc (@HypeStrat), bought another 494,200 $HYPE ($45.8M) over the past 16 hours. Over the past month, the wallet has bought a total of 5.51M $HYPE ($476M), averaging 183,574 $HYPE ($15.86M) per day. @HypeStrat currently holds 35.1M

The U.S. Federal Reserve Board announced on September 24 that it is seeking public comment on two proposals to establish a regulatory framework for payment stablecoin issuers under its oversight, pursuant to the GENIUS Act. The first proposal mandates that issuers back stablecoins with full reserves of approved high-quality liquid assets such as short-term U.S. Treasury securities, and sets standardized capital requirements and risk management standards to mitigate credit and operational risks associated with stablecoin operations. It also proposes to set rules for Federal Reserve-supervised institutions holding stablecoin reserve assets, and clarify the permissible scope of activities for regulated banks engaging in stablecoin and related operations. The second proposal aims to establish a dedicated application process for Federal Reserve-supervised banks seeking to issue payment stablecoins, requiring applicants to submit documents including business plans and financial information, while establishing procedures for application appeals, hearings, and final rulings. The public comment period will conclude 60 days after the proposals are published in the Federal Register.