Singapore's largest money laundering case suspect Wang Shuiming may be extradited to China, with his accomplice being the mastermind behind the Hong Kong crypto platform scam AAX.

Smart trader 0x35b2 has now made a total profit of $1.04M on @papertrade_xyz! He traded only on the first day of launch, generating $10.1B in trading volume and losing $979K, but earned 252M $PAPER tokens. Since then, he's done nothing but stake his $PAPER, earning enough

HIP-3 market deployer Paragon announced that PAPER trading has been suspended and fully settled, with all open positions cleared at a settlement price of $0.026296. The suspension occurred at 06:31:15 Beijing Time. Paragon explained that Papertrade’s October 1 launch plan originally included an open transfer phase for PAPER, which led to PAPER launching as a pre-market perpetual contract, with plans to convert to a standard perpetual after the spot market went live. However, Papertrade has now stated it will not proceed with PAPER’s open transfer, leaving the market without a spot price foundation required for price convergence. In response, Paragon immediately halted trading after the announcement, setting a unified settlement cutoff for all open positions. The settlement price uses the time-weighted average of the oracle price from the one-hour period immediately before the suspension, applying the same 1-hour average window used for the delisting of HyperCore perpetual contracts led by Hyperliquid validators. All pending orders have been canceled, remaining margin has been released, and realized profits and losses have been credited to traders’ account balances, requiring no action from users. Paragon added that it will assess resuming PAPER trading if Papertrade revises its transfer plans.

Aster issued an announcement stating that, in light of recent developments related to PAPER, it has immediately adjusted the PAPER pre-market perpetual contract market to reduce-only mode, with delisting scheduled for 9:45 AM Beijing time on October 20. Aster advised users holding open positions to close their trades before delisting, noting that this move is a preventive measure aimed at managing market risks and maintaining orderly trading. Earlier reports noted that Papertrade had stated it currently has no plans to allow external transfers of PAPER tokens, and will adjust short-term trading fees and the token issuance curve. The team believes that PAPER perpetual contracts expose the fund pool’s solvency to short selling, and external short positions may increase the profitability of manipulation attacks, as these markets are not controlled by the protocol.

Cathie Wood’s ARK Invest bought 132,498 shares of CoreWeave (CRWV) on Monday in a "bottom-fishing" move, totaling roughly $8.1 million. Separately, it sold 18,349 shares of Palantir (PLTR) for approximately $3.56 million.

Paragon, the deployer of the HIP-3 market, announced that trading for PAPER has been suspended and settlement finalized, with all open positions settled at $0.026296. The suspension took place at 06:31:15 Beijing Time. Paragon explained that Papertrade’s October 1 launch plan originally included an open transfer phase for PAPER, so PAPER was launched as a pre-listing perpetual contract, intended to convert to a standard perpetual contract once its spot market launched. However, Papertrade has now stated it will not open PAPER transfers, leaving the market without a spot price basis for future price convergence. In response, Paragon immediately suspended trading after the announcement, setting a unified settlement cutoff for all open positions. The settlement price uses the time-weighted average of the oracle price from the hour before suspension, matching the 1-hour average window used for delisting HyperCore perpetual contracts led by Hyperliquid validators. All orders have been canceled, remaining margin released, and realized profits and losses credited to account balances; no action is required from traders. Paragon added that it will evaluate resuming PAPER trading if the token’s transfer plan is adjusted.

The Blockchain Association has submitted comments to the U.S. Department of the Treasury on the proposed rule implementing Section 3 of the GENIUS Act. This provision specifies which entities are eligible to issue and sell payment stablecoins in the U.S. The association supports the Treasury’s core regulatory approach, but calls for further clarity on the definition of digital asset service providers, the criteria for determining "knowing participation," and requirements for foreign issuers.