Former Treasury Secretary Downplays Economic Recession Concerns, Calls Stock Market Pullback a Natural Phenomenon

According to market data from BIT (bit.com), cloud computing service provider IREN jumped more than 5% in after-hours trading. Reports indicate that Anthropic has signed a cloud service agreement with IREN. Meanwhile, U.S. crypto-related concept stocks extended their after-hours gains: Circle rose over 2%, while Strategy and Coinbase each climbed nearly 2%.

The XRP Ledger Foundation (XRPLF) took to social media to clarify questions and misunderstandings surrounding the recent security fix for xrpld 3.4.1. The foundation explicitly stated that the vulnerability patched in this update did not cause XRP inflation. The total supply of XRP has been fixed at 100 billion tokens since the ledger’s launch, with no transaction able to create additional tokens. The vulnerability was a loophole that bypassed relevant rules, fixed in version 3.4.1 two weeks ago. All ledger data is fully public: roughly 99.986 billion XRP is currently in circulation (it is deflationary due to fee destruction), and both the community and foundation have continuously verified the supply, finding no anomalies. The vulnerability required hundreds of deliberately constructed operations to trigger, making it inaccessible to regular payments. It was discovered via AI by Cayden Liao and Veria AI, who reported it responsibly. To avoid exposing the attack surface during amendment voting after the public fix, XRPLF, RippleX, core developers, and validators prioritized distributing the patch to default UNL validators via social consensus, then released the public binary on September 25. The 3.4.1 version will later be made mandatory through standard amendment voting (requiring over 80% support for two consecutive weeks). The foundation added that it will further strengthen formal verification, AI adversarial testing, and its bug bounty program.

Billionaire Adam Weitsman announced on social media that he has decided to purchase 117 Pudgy Penguins NFTs on-chain this weekend (local time the 11th), aiming to support his favorite NFT collection amid challenging times and convey confidence to the community. Weitsman praised Pudgy Penguins for bringing him joy, stating "The Huddle will stay strong" and calling on others to "Return to Pudgy Penguins". Per market data, Pudgy Penguins’ floor price stands at 2.74 ETH, roughly $6,900, with a 16.7% 24-hour gain.

According to Bitget market data, the KOSPI index has fallen 1.00% intra-day after South Korean stocks opened, with SK Hynix down 2.9% and Samsung Electronics down 1.24%.

Cosine, founder of SlowMist, stated that among the closely related cases of the Ledger hardware implant attack his team is tracking, one involves the Ledger Flex model. The industry is widely aware of issues related to the Ledger Nano X, and it is speculated that Ledger’s mainstream product line may have been tampered with at its dealer CryptoBills (also referred to as CryptoBilis). Ledger has now confirmed that malicious hardware modules were implanted into devices at its authorized Southeast Asian dealer CryptoBilis, resulting in theft of numerous users’ assets. The company has ordered the dealer to suspend sales and advised affected users to transfer their assets promptly.

According to HTX market data, the crypto market remains in sideways consolidation, with Bitcoin rising slightly this morning to break above $84,000, marking a 0.82% 24-hour gain. Ethereum is trading at $2,535, BNB at $754, SOL at $111, and HYPE at $86.7. ZEC is performing strongly, up 4.48% in 24 hours to $1,277. The total crypto market cap fell 0.3% over 24 hours to $2.894 trillion. Among altcoins, Layer 2 scaling solutions—especially ZK and modular blockchain segments—are leading gains, with STRK, LUMIA, PLUME, MANTA, and MEGA all rallying, driven by narratives around network upgrades, quantum resistance, and real-world assets (RWA). High-performance Layer 1s, cross-chain interoperability, GameFi, and DePIN sectors also stood out, with MAGIC leading the market’s gains, followed by IO, RLC, FIL, and EIGEN. Top-performing altcoins in 24 hours include: MAGIC up 38.96% to $0.1359; CKB up 32.10% to $0.001930; S up 27.81% to $0.06090; W up 24.26% to $0.02187; LUMIA up 21.44% to $0.1246; PLUME up 21.21% to $0.02280; STRK up 20.52% to $0.12490. IO, DYM, BAT, NEAR, METIS, ICP, and EIGEN all rose over 10% in 24 hours; NIL, MANTA, FIL, RLC, MEGA, Binance Life, FLUX, CFX, ETHFI, and ENA gained nearly 10% in the same period.