Report: Rug Pull Incidents in the Crypto Space Have Decreased, but Their Impact Has Grown

The yield on the US 30-year Treasury note climbed to 5.595%, marking its highest level since 2002.

Renowned crypto trader Bonk Guy noted in a post that market sentiment toward PONS may have hit a long-term low. Its comparable project PUMP currently has a market capitalization of around $2.7 billion, up 17% on the day. PONS generates annualized revenue of roughly $156.8 million, with a market cap of $375 million, corresponding to an annualized revenue multiple of approximately 2.39x. For PUMP, annualized revenue stands at $463.6 million, with a market cap of $2.7 billion, translating to an annualized revenue multiple of 5.82x. PUMP is a leading launchpad in the Solana ecosystem, while PONS is the dominant launchpad on Robinhood Chain. If Robinhood Chain sustains a certain level of ecosystem activity moving forward, the gap between PONS’ current valuation and its revenue scale may be worth noting.

The U.S. Commodity Futures Trading Commission (CFTC) is investigating incentive programs for prediction markets and has expressed concerns about misleading promotions related to these markets.

According to The Wall Street Journal, HANetf has launched the world’s first euro-hedged Bitcoin exchange-traded product (ETP), noting that demand from its European client base is shifting. While Bitcoin is a digital currency, it is typically priced in U.S. dollars, which creates additional foreign exchange risks for investors seeking to reduce their dollar exposure. As Bitcoin becomes increasingly integrated into institutional portfolios, some investors may prefer to avoid adding further dollar risk on top of their existing exposures to U.S. dollar-denominated assets like U.S. stocks, U.S. Treasuries, gold, and oil.

US President Trump said Iran is suffering a severe defeat and will soon end, predicting that oil prices will drop sharply.

Cosmos ecosystem liquid staking protocol Stride announced plans to orderly cease operations of its Stride chain. Users can continue redeeming stTokens normally via Stride until October 12; after that, the redemption function will be suspended. Once the underlying staked assets complete unbonding, a redemption pool is expected to launch on Osmosis around November 20. stTokens will not expire, and users do not need to take any action before migration. stTokens deployed on other chains do not require bridging back to Stride to participate in subsequent redemptions. Per the plan, all stTokens including stATOM, stOSMO, and their corresponding underlying assets will be migrated to Osmosis’ Transmuter Pool and exchanged at a fixed redemption ratio. All remaining staked assets will be unbonded and transferred to relevant pools. After migration is complete, reward accumulation will stop, and the fixed redemption ratio will be maintained. Stride stated that users will then be able to convert stTokens to their corresponding underlying assets via Osmosis. Stride added that Stride Labs and the Stride Association currently hold limited treasury reserves, which are projected to be depleted by February 2027 at the current burn rate. The Stride chain’s current total value locked (TVL) is approximately $6 million. The team noted that continuing to operate the chain without sustained funding support would be irresponsible, so it decided to complete an orderly exit while sufficient resources remain, prioritizing the secure withdrawal of user funds as its top priority.