Entropy spent 500 HYPE to acquire the Pearl (PRL) code, with its perpetual contracts likely to launch soon.

Ethereum founder Vitalik Buterin wrote in a post that he is testing a community-developed offline local knowledge application for mobile devices. The app works significantly better than the version he built himself two months ago, though it still lags behind models running on laptops in solving challenging problems. His evaluations included queries such as "the best vegan restaurant in my current city"—notably, all such apps currently perform poorly on travel-specific questions. Buterin thanked the relevant developers, expressing anticipation for further improvements and hoping to soon be able to query any world facts he cares about without an internet connection.

According to monitoring by Farside Investors, U.S. spot Bitcoin ETFs posted a total net inflow of $2.3858 billion this week. The breakdown is as follows: BlackRock’s IBIT saw a net inflow of $1.1576 billion; Fidelity’s FBTC, $701.6 million; ARK 21Shares’ ARKB, $294.7 million; Morgan Stanley’s MSBT, $203.3 million; and Bitwise’s BITB, $13.9 million.

Ethena (ENA), a synthetic USD protocol, announced in an official statement that token incentives linked to the growth of its USDe stablecoin have fallen by roughly 85% since its first airdrop in 2024. All token incentives and inflation related to USDe will be fully discontinued by the end of this month, with no further distributions to follow. The project thanked all users who participated in growing the product to its current scale. Per HTX market data, ENA is leading today’s altcoin rally, hitting $0.28. On September 25, Ethena revealed a partnership with Binance to expand USDe’s basis trading strategy from crypto perpetual contracts to stock perpetuals. The strategy involves spot purchases of bStocks—tokenized stock certificates issued by Binance’s affiliates—to hedge short positions in USDT-denominated stock perpetuals on the same platform. For further analysis, see "Behind ENA’s Surge: What’s the Impact of Ethena’s Expansion to US Stock Perpetuals?"

According to OnchainLens monitoring, a whale address withdrew 28,000 HYPE tokens from HTX less than an hour ago, valued at roughly $2.57 million, before transferring them to a multi-signature wallet.

Backpack CEO Armani Ferrante outlines the next steps for tokenized stocks: the goal is not to reach 10 or 100 assets, but to move the entire stock market onto the Solana blockchain, using a unified API to allow assets that meet the definition of "real shares" to transfer between brokerage accounts and DeFi. The immediate next target is to expand from roughly 200 assets to 10,000.

The U.S. Commodity Futures Trading Commission (CFTC) announced it has filed a lawsuit against Cash FX Group and three individuals, accusing them of running a $950 million-plus investment scam involving cryptocurrency. The defendants include Cash FX and its CEO Huascar Jose Lopez Castillo (Brazil), The Conversion Pros and its CEO Ronald Pope (Oregon), and Justin Halladay (Florida). The complaint was filed Friday with the U.S. District Court for the Middle District of Florida. The CFTC alleges the defendants operated a multi-level marketing Ponzi scheme, raising and accepting over $950 million in funds under the pretense of trading retail foreign exchange contracts in commodity pools. The CFTC states the defendants falsely claimed funds were managed by professional traders, proprietary algorithms, and artificial intelligence, promising returns of up to 15% weekly. In reality, Cash FX conducted minimal foreign exchange trading, misappropriated most participants' funds, used new investors' contributions to pay out fictional trading profits, and transferred millions of dollars to each defendant. The defendants also provided participants with false accounting statements, resulting in at least $406 million in investor losses.