A whale transferred 1000 ETH to Binance after a year of hibernation

Bitcoin yield platform HoneyB’s developer Nectar Group has raised $5 million in a seed funding round led by Portal Ventures, with participation from Peer Venture Partners, Anchorage Digital Ventures, an unnamed family office, and angel investors. Nectar Group co-founder and CEO Josh Gordon disclosed that the company launched the financing round at the end of Q4 2025 and closed it in early Q3 2026. Gordon noted the round used a Simple Agreement for Future Equity (SAFE) structure, accompanied by a 1:1 token subscription warrant, and carried a post-money valuation of $30 million. He also stated that none of the investors secured board seats, board observer status, or advisory roles.

Utah Attorney General Derek Brown announced a lawsuit on Tuesday against prediction market platform Kalshi, its affiliates, and two Susquehanna trading firms, accusing the group of conducting illegal activities in Utah since 2024. Brown stated at a Tuesday press conference that Utah officials have filed a court motion seeking the companies to disgorge roughly $30 million to $60 million in profits from allegedly illegal event contracts. The Utah AG also alleged Kalshi illegally served more than 32,000 users in the state, causing significant losses. In September, an appeals court rejected Kalshi’s request for an injunction to block the platform from continuing operations during the appeal period.

As the U.S. Securities and Exchange Commission (SEC)’s public comment period for its proposed Crypto Asset Regulation Rules draws to a close, digital asset firms, Wall Street institutions, and industry advocacy groups have put forward their respective proposals, seeking to influence the regulator’s future oversight direction for financial innovation. The SEC’s comment period for the proposed rules closed on Tuesday, with over 100 submissions received so far. The regulation aims to provide a compliant pathway for digital asset-related investment activities, enabling eligible offerings to be exempt from certain securities law requirements. These include a "Startup Exemption" that exempts offerings of up to $5 million from registration rules, as well as a "Financing Exemption" that permits issuers to conduct offerings of up to $75 million over a 12-month period. In its comment letter to the SEC, the Hyperliquid Policy Center (HPC) urged the regulator to adopt the Crypto Asset Regulation Rules, while noting adjustments are needed to the handling of airdrops. The center called on the SEC to formally incorporate its prior guidance into the rules: if an airdrop recipient obtains assets without any consideration, this does not constitute a monetary contribution, and thus the assets are not securities. HPC also argued that the SEC’s proposed safe harbor mechanism is too narrow in scope.

Citadel Securities CEO Griffin said investors are almost certainly in an AI bubble. Griffin stated on Tuesday local time: "Any technology that fundamentally transforms the economy is usually accompanied by a bubble." He referenced the market environment before the dot-com bubble burst and some "far-fetched" business models from that period. He lamented: "I really wish I hadn't sold my Amazon stock." Earlier this year, Griffin called AI "trash" during a speech at Davos. In May, when addressing an audience at Stanford Graduate School of Business, he said he was "frustrated" by everything AI can achieve.

According to people familiar with the matter, AI infrastructure startup Fireworks AI is seeking a new round of financing with a target valuation of $30 billion to $40 billion. Just a few months ago, the company was valued at $17.5 billion. The insiders added that the financing negotiations are still in the early stages, and the target valuation may still change. Unlike companies aiming to build ChatGPT rivals, Fireworks AI has taken a different development path: it offers enterprises what it calls "specialized intelligence" services. These services leverage clients' proprietary data, workflows, and specific business needs to customize AI models, making them better suited for enterprise use cases. Fireworks AI said in July this year that its annualized revenue has exceeded $1 billion, processing more than 40 trillion tokens daily, with 95% coming from models customized to meet client demands. (Business Insider)

According to Politico, federal campaign finance filings released Tuesday show that the leading Super PAC aligned with the cryptocurrency industry held more than $95 million in funds as of the end of September. This sum provides robust funding for the Super PAC network, allowing it to continue backing crypto-friendly allies in the final stretch ahead of the 2026 U.S. midterm elections. The group, called Fairshake, counts crypto firms Coinbase, Ripple, and venture capital giant Andreessen Horowitz among its key funding sources. It remains unclear whether the group will deploy all of its remaining funds or set some aside for the 2028 election cycle. The Fairshake network comprises three affiliated Super PACs: Fairshake, Defend American Jobs, and Protect Progress, all focused on backing crypto-friendly candidates from both major U.S. political parties. The group’s single largest political expenditure this election cycle came from the Republican-aligned Defend American Jobs, which poured $45 million into supporting Republican Senator Jon Husted while targeting former Senator Sherrod Brown. Brown, who previously served as chairman of the Senate Banking Committee, was a vocal critic of the crypto industry during his tenure. Additionally, the group has made smaller expenditures to back 32 incumbent U.S. House members who are crypto-friendly.