BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

Renowned crypto trader Bonk Guy posted a statement clarifying he has no allegiance to PONS, any other holdings, or their respective communities. He stated he has never been paid by the PONS project team nor is he a member of the project, so his holding and support of PONS should not be interpreted as loyalty to the project. Bonk Guy added that his bullishness on PONS stems from the token’s core value of fairness, and his belief that PONS offers on-chain traders the opportunity to build generational wealth. He views PONS as a trade that has not yet fully realized its potential, and predicts its market cap could reach billions of dollars in the future, regardless of current market sentiment. He emphasized this principle applies to all his other holdings: he is first and foremost a trader, with no allegiance to any token or community, only selecting trading opportunities he deems have the most asymmetric risk-reward profiles. On-chain data shows Bonk Guy currently holds PONS worth $6.61 million, with a return of 9,663%.

Cascade (formerly Perennial) announced in a statement that it is ceasing operations, with users able to withdraw remaining funds from their CLS and trading accounts on the platform via the relevant page. Earlier reports noted that Cascade’s CLS vault was hacked, resulting in the theft of approximately $1.34 million in USDC from user funds.

Solana social wallet Hey Wallet announced in a post that it will cease its product services, and reminded all users to back up their wallets. Previously, Hey Wallet supported users to send SOL via tweets, tip creators, mint NFTs, and conduct transactions on X, Discord, and Telegram.

According to GMGN market data, PERPSPAD, the token of Solana-based token launch platform PerpsPad, briefly topped $5 million in market capitalization before pulling back to $4.2 million, with a 24-hour gain of over 200%. PERPSPAD is a "position tokenization" token in the Solana ecosystem. PerpsPad is an innovative token launch platform whose core function is to back every issued coin with a real leveraged perpetual contract (Perp) position: transaction fees automatically flow into the coin’s dedicated on-chain sub-wallet to open or add to leveraged positions (supporting multiple markets including SOL, BTC), while a portion of the fees is used for token buybacks and burns. PERPSPAD itself is structured as a 5x long SOL strategy, and can receive buyback support from trading revenues of other tokens on the platform, operating on the Phoenix network. BlockBeats reminds users that related tokens are subject to high price volatility and significant uncertainties, so users should exercise caution when investing.

Beating AI News Flash: Hugging Face CEO Clement Delangue announced the launch of the Open Alignment Initiative, led by co-founder Thomas Wolf, and publicly applied to join Anthropic’s newly proposed "Embedded Evaluator" program. If approved, Hugging Face’s evaluation staff will be able to be stationed on a long-term basis, gaining access nearly equivalent to employee-level privileges to directly review model training and safety protocols. Delangue noted that AI alignment can no longer be resolved solely within a handful of leading labs, and requires more external researchers to participate. Anthropic has pledged to grant such access to third parties, including workstations, keycard access, company computers, and tools linked to internal risk teams, while allowing evaluators to independently publish their findings.

Prominent trader Bonk Guy currently holds roughly 28 million EMBER tokens, with a position worth approximately $859,800, total invested capital of about $415,100, unrealized gains of roughly $445,000, and a position return of 107%. His average entry market cap stands at around $14.7 million. As EMBER’s market cap has climbed to roughly $30.5 million, the value of this holding has more than doubled from his initial investment, and he is still holding the position.