Magic Eden: Current open orders are not affected by this vulnerability; users who used the EVM marketplace between February and October 2024 should revoke relevant contract authorizations.
Magic Eden released a statement noting that the vulnerability occurred in the Payment Processor V2 NFT trading protocol maintained by Limit Break. Magic Eden adopted this protocol to handle EVM network transaction settlements in 2024, but ceased using V2 in October 2024 and will fully shut down its EVM marketplace in Q1 2026. As such, NFTs currently listed on Magic Eden are not affected by this vulnerability. NFTs listed via its EVM marketplace roughly between February and October 2024 may be impacted, while listings made after October 2024 are generally not affected. The platform is in contact with protocol owner and maintainer Limit Break to explore additional risk mitigation measures, including pausing protocol transfers, and will continue investigating the full scope of the impact. Magic Eden reminds users who have listed or traded NFTs on its EVM marketplace to revoke relevant contract approvals on the Ethereum, Polygon, and Base networks. Users can filter their addresses via revoke.cash and revoke all NFT approvals marked as "approved for all". Magic Eden emphasizes that revoking approvals cannot retrieve assets that have already been transferred.
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A crypto whale bought the dip in XPL at its "golden pit" before the rally, logging over 300% in unrealized gains.
According to TradingBeats' monitoring, around 22:00 on the evening of September 23, XPL’s price saw a brief sharp dip, plunging from roughly $0.094 to $0.0815 within one hour. A whale wallet at address 0xb7e0 began building a long position in XPL at around 1:00 a.m. yesterday, when the token was trading near $0.085. The whale continued accumulating via TWAP orders and completed the full position by 18:00 (6:00 p.m.) the same day. Three hours after the position was finalized, XPL staged a V-shaped reversal. As of press time, XPL is trading at approximately $0.1141, up roughly 30.9% from the whale’s entry price. The position is currently valued at around $3.409 million, with an unrealized profit of about $804,500, translating to a holding return of approximately 308.9%.
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Wash is pushing for institutional reforms at the Federal Reserve, though the central bank's balance sheet reduction plan is moving slowly.
127 days after Kevin Warsh took office as Federal Reserve Chair, the institutional reforms he promised have begun to take effect. He has shortened the duration of post-Federal Open Market Committee (FOMC) press conferences, rearranged reporters’ seating, and more importantly, downplayed traditional forward guidance while refusing to provide individual interest rate forecasts in the dot plot, forming a distinct policy communication style from his predecessors.
Warsh’s new policy framework places more emphasis on overall financial conditions rather than the traditional concept of the "neutral rate". He argues that the neutral rate is only "academically useful", and policy tightening should be judged by a comprehensive look at asset prices, U.S. Treasury trading, the U.S. dollar exchange rate, credit costs and supply, and commodity prices. Given that the stock market, employment and credit markets remain strong, he may support further rate hikes if inflation stays persistently high.
The Federal Reserve unanimously approved a 25 basis point rate hike last week, its first such move since 2023. Markets currently price in a 70% chance of another rate hike in October, and factor in the possibility of up to two more hikes before March next year.
However, progress on Warsh’s push to reduce the Fed’s $6.7 trillion balance sheet has been slow. Some FOMC members prefer to wait for reports from the five working groups he established to be submitted early next year; meanwhile, the 10-year U.S. Treasury yield has risen above 5%, creating greater headwinds for the Fed’s current balance sheet reduction and increased bond supply to the market.
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Iran's President: Iran has no intention of possessing nuclear weapons and is willing to advance negotiations with the United States.
Iranian President Masoud Pezeshkian reaffirmed on local time the 24th that Iran "absolutely does not" seek to possess nuclear weapons, and is willing to lower uranium enrichment levels and accept inspections within the framework of international law. Pezeshkian noted that Iran has no choice but war and does not seek conflict, adding that war was imposed on Iran. Regarding the previously signed Iran-US memorandum of understanding, Pezeshkian said, "The agreement has been signed", and Iran remains willing to advance on this basis. (CCTV)
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Sources: The Federal Reserve plans to raise banking regulatory thresholds.
Four sources familiar with the matter said the U.S. Federal Reserve is crafting a plan to raise the asset thresholds that trigger stricter oversight for large banks, a move that would exempt some lenders from costly extra regulatory burdens and potentially push industry consolidation. The Fed is expected to soon propose adjusting the thresholds at which banks must comply with stricter rules on balance sheet stress tests, liquidity, capital and other metrics to reflect inflation and economic growth factors, the sources added. Three of the sources noted the Fed will likely put forward these adjustments later this year. Current rules impose stricter requirements when a bank’s assets reach $100 billion, with even higher standards applying at $250 billion and $700 billion. Lenders say the thresholds set in 2019 have not kept pace with economic development, leading to stricter regulation than the actual risks these institutions pose.
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Altcoins extend their rally, with QNT jumping more than 38% and NEAR rising another 17%.
According to HTX market data, the cryptocurrency market’s sustained recovery is driving a continued rally in altcoins. Key 24-hour performance metrics are as follows: QNT trades at $98.02, up 38.39%; ONDO at $0.5578, up 32.43%; XPL at $0.11465, up 29.90%; BROCCOLI714 at $0.03224, up 25.45%; FET at $0.2383, up 22.02%; JTO at $0.5341, up 18.06%; CHIP at $0.04891, up 18.03%; and NEAR at $4.94, up 17.72% over the past day.
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