「$10M Profit Whale」 Suspected of Accumulating 6000 ETH in a Transaction, with an Average Price of $1582

Beating AI News Flash: After Jensen Huang admitted to an extramarital affair, the public is calculating how much of his fortune the Nvidia founder would have to split in a divorce. Forbes reports that Huang’s current net worth is approximately $155.2 billion. Under California’s community property laws, assets acquired during a marriage are generally split equally between spouses. If all of his wealth is deemed community property, his wife Lori Huang would theoretically receive around $77.6 billion, equivalent to over 500 billion yuan. The couple’s relationship predates Nvidia’s founding. When Huang was 17, he met 19-year-old Lori at Oregon State University. Both were electrical engineering students and lab partners. Huang recalled that at the time, there were about 250 students in the major, only three of whom were female. To pursue Lori, he offered to study together every Sunday, promising to help her earn straight A’s. Huang would finish his own assignments early, then show his work when they met to appear exceptionally clever. He also promised Lori that he would become a CEO before turning 30. The pair married in 1985. In 1993, Huang founded Nvidia and took on the role of CEO, just as he turned 30. Lori was originally a chip engineer but left her career to raise their children. Huang has publicly stated that his wife was involved in every step of Nvidia’s growth, accompanying him to nearly every press conference and key speech. He once joked with Nvidia’s executives that since marriage, Lori has handled nearly all his personal affairs—including signing documents and managing household finances—such that he doesn’t even know his home address and never pays bills himself.

CryptoQuant analyst Axel Adler Jr released data showing Bitcoin’s Long-Term Holder Spent Output Profit Ratio (LTH-SOPR) has fallen to 0.94, remaining in negative territory for eight consecutive days. This means the average price at which old coins moved by long-term holders is below their holding cost basis. While similar readings were observed over the past year, Adler noted the speed at which the metric turned negative this time is particularly notable, adding that it will be critical to monitor whether the indicator can rebound back above 1. Separately, Bitcoin’s long-term holder supply has dropped to 16.3 million BTC, a decrease of 171,700 coins over the past month. The analyst explained that tokens are automatically categorized as long-term holder supply after being held for 155 days, so changes in this metric do not necessarily signal buying or selling activity. Over the past year, the supply has stood at or below the current level on 47% of trading days. Adler pointed out a comparable LTH-SOPR reading occurred on August 22, 2026, when Bitcoin traded at $77,075; the price rose 12.4% one month later. He emphasized this is a historical reference, not a prediction. Both metrics point to a correction scenario, Adler said, with the monthly decline in LTH-SOPR being one of the most significant over the past year as old coins continue to circulate at a loss. If such circulation returns to positive territory, his assessment will shift to neutral.

According to an official statement from Initia, the Initia Layer 1 (L1) network was suspended at 14:18 local time (06:18 UTC) the same day after coordinating with its validators, a protective measure. Initia said the move followed the detection of unauthorized transfers in custodial accounts holding assets bridged to multiple Rollups on its L1. The project added that initial investigations attribute the transfers to stolen Rollup infrastructure keys, which attackers used to forge IBC transfers. Preliminary checks show approximately $605,000 in USDC was moved out of Initia via Noble before the network halt, alongside around $10,000 in other tokens. Most remaining assets from the custodial accounts remain on the suspended L1. Initia noted it is working with security teams, validators, and exchanges to fully determine the incident’s scope, and will provide updates as more information becomes available. The team also warned users to exercise caution with unofficial links, messages, and related claims.

According to HTX market data, INIT has surged 70% over the past 24 hours, topping the gainers list and breaking through $0.23, currently trading at $0.234. However, Initia remains mired in FUD (Fear, Uncertainty, Doubt) amid recent developments. Per an official announcement, Initia’s Layer 1 (L1) network was suspended at 14:18 today (06:18 UTC) following coordination with validators, a protective measure. Initia stated the move was taken after detecting unauthorized transfers from custodial accounts on its L1 that hold assets bridged to multiple Rollups. The project added that ongoing investigations show the malicious transfers were executed using stolen Rollup infrastructure keys, which attackers exploited to forge IBC transfers. Preliminary checks indicate that before the network suspension, roughly $605,000 in USDC was withdrawn from Initia via Noble, plus around $10,000 worth of other tokens. The majority of remaining assets moved from the custodial accounts are still held on the halted L1 network.

According to Barron's, Robbie Mitchnick, head of BlackRock's digital assets business, stated that since regulators approved in-kind crypto asset subscriptions and redemptions last year, the firm has recorded around $3.6 billion in in-kind conversions of directly held Bitcoin into shares of its spot Bitcoin ETF IBIT. As BlackRock does not handle all transactions itself and may not track every conversion, the actual volume could be larger. BlackRock also offers in-kind conversions for the iShares Ethereum Trust ETF and iShares Staked Ethereum Trust ETF, but their related volumes are far smaller than IBIT's. Mitchnick noted that demand for these conversions continues to rise, currently at the highest level of interest the firm has observed, and it does not fluctuate with Bitcoin's price. He added that the primary motivation is security and peace of mind: outsourcing custody to institutional cold storage models is more appealing to holders, and holding shares of a large fund manager's ETF is generally considered less risky than keeping assets on crypto trading platforms or always-on hot wallets. He pointed out that the recent Binance hack has once again highlighted the risks of trading platforms, though large Bitcoin holders have long understood these risks. The minimum threshold for in-kind conversions has dropped from an initial ~$30 million to around $1 million to $2 million, set by intermediaries facilitating the trades: Galaxy Digital, Talos, and Virtu. Mitchnick expressed hope that the threshold could be reduced to a single ETF share, but the cost structure will not fall to zero in the short term.

A wallet address starting with 0x7dD, traceable to Ethereum’s 2015 genesis block, made its first external transfer of 0.05 ETH (worth ~$106) at 6:04 AM Beijing Time on the 10th. The test receiving address starts with 0x1321beb8 and ends with 1A44. This address received its first ETH in the July 2015 genesis block and another 755 ETH in March 2016, with no external transfers made prior to this transaction. On-chain monitoring account Whale Alert flagged the test transfer. Within roughly three minutes of the test transfer being sent, the old wallet received multiple small ETH deposits from two addresses mimicking the target receiving address: one starting with 0x13211f, the other with 0x1321FB, both ending in 1A44. Etherscan data shows the accounts funding these two addresses are labeled “Fake_Phishing”, with the more active one sending 43 dust transfers. This tactic, called address poisoning, involves attackers inserting nearly identical addresses into target transaction records, tricking holders into copying the wrong address from recent logs and transferring large sums. At 6:20 AM Beijing Time, the new address sent 0.01 ETH, with nearly all of it returned about three minutes later. Then at 6:42 AM Beijing Time—roughly 38 minutes after the initial test transfer—the old wallet transferred 2,154.94 ETH (valued at ~$4.6 million) to the correct 0x1321beb8 address. The new address currently holds around 2,155 ETH. In January this year, Citigroup warned that address poisoning spam transactions had inflated Ethereum’s network transaction count, with many transfers worth less than $1.