Cumberland has opened long and short positions totaling $70.38 million, with its core positions being short on major cryptocurrencies and US equity assets.

Robinhood-linked on-chain meme token CASHCAT has officially launched its launch platform letscash.fun. The platform operates two models: Creator Mode, where 70% of tokens go to creators and 30% to the protocol; Self-Destruct Mode, where the same 70% is used to buy and burn tokens. The protocol’s 30% share will be allocated to burning CASHCAT tokens, boosting treasury funds, and supporting development. Powered by Uniswap v4, the platform features permissionless, decentralized, and post-deployment immutable mechanisms. It is currently undergoing final security audits by Hyacinth Audits and SB Security.

Grayscale said in a report that HYPE’s forward price-to-earnings ratio is approximately 15 to 18 times. Hyperliquid generates real cash flow, so it can be valued like a stock, with the valuation based on earnings per token rather than earnings per share. Based on this, it still appears undervalued compared to fintech peers including Coinbase, Robinhood, and Circle. According to HTX market data, HYPE is currently trading at $55.

According to Bitget’s market data, South Korea’s KOSPI index has extended its gains to over 3%, SK Hynix rose 4%, and Samsung Electronics gained nearly 6%.

134 U.S. banking association officials and bank executives have urged the U.S. Senate to amend Section 10404 of the Cryptocurrency Market Structure Act (the CLARITY Act) before its final passage, to strengthen restrictions on interest and returns from payment stablecoins. The bankers hope lawmakers will expand the scope of these restrictions to prevent companies from offering similar economic benefits for holding stablecoins through rewards, incentives, or other arrangements. They warned that if stablecoins can attract and retain balances via interest-like rewards, the funding base supporting local loans could be weakened by hundreds of billions of dollars. The letter notes that deposits serve as the foundation for loans to households, small businesses, farmers, and local employers. Signatories added that clear rules would allow payment stablecoins to develop while preserving financing channels that support community lending.

According to BIT (bit.com) market data, the three major U.S. stock indexes closed mixed: the Dow Jones Industrial Average rose 1.03%, the S&P 500 gained 0.22%, and the Nasdaq fell 0.22%. The optical communications and storage sectors plunged, with SanDisk down over 14%, Corning dropping more than 12%, Coherent falling over 10%, and SK Hynix ADR down 9%. The Philadelphia Semiconductor Index closed 519.198 points lower, down 4.49% to 11035.68, breaking a key support level. SK Hynix’s second-quarter revenue came in at 79 trillion won, missing the market expectation of 84 trillion won. Seagate Technology reported its fourth-quarter fiscal results: revenue reached $3.63 billion, beating the market forecast of $3.49 billion; adjusted earnings per share (EPS) stood at $5.71, also exceeding the $5.08 consensus estimate. After the sharp daily close, the U.S. storage sector turned positive in after-hours trading, with SK Hynix’s U.S. shares rising 2.64% in after-hours. Meanwhile, the informal ceasefire between the U.S. and Iran collapsed, as Iran launched missiles at U.S. military bases early this morning. According to Bitget market data, WTI crude oil subsequently surged 4%.

According to Bitget market data, South Korea’s KOSPI index opened 1.2% higher. SK Hynix rose 2% after announcing its second-quarter operating profit surged to 79 trillion won, though this figure missed the market consensus of 84 trillion won. Samsung Electronics gained 3%. Japan’s Nikkei 225 index opened 0.18% higher.