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

Smart trader Frank (@frankdegods) has been buying $EDEL since Oct 1, spending a total of $191K to buy 5.7M $EDEL($285.6K now). He is now sitting on a $94.5K unrealized profit on $EDEL.

According to GMGN data, Robinhood’s chain-linked meme coin BONER is rising against the trend, with its market capitalization once exceeding $70 million, approaching its all-time high. As of press time, BONER is currently valued at $66.4 million, with a 24-hour increase of 17.8%. In related news, Bloomberg published a special report on Robinhood’s chain-linked meme coins on October 2. Crypto KOL Eric told Bloomberg in an interview that stock meme coins are “a feature of the times and a future trend.” As a top holder of BONER, Eric also specifically introduced the BONER token to the outlet. Stock Meme is an emerging concept that combines traditional meme coins with tokenized US stocks: instead of pairing with USDT or ETH, these meme coins are directly paired with on-chain US stock tokens (such as NVDA, TSLA, AAPL, etc.). This model retains the high volatility and community-driven speculative attributes of meme coins, while leveraging the popularity and narratives of real stocks. A portion of transaction fees typically flows back to the community treasury to accumulate corresponding US stock tokens, forming a dual-driven model of “sentiment speculation + real asset anchoring.” BlockBeats reminds users that related token prices are highly volatile, so investors should exercise caution.

The internationally recognized Yemeni government, backed by Saudi Arabia, has announced a large-scale military operation against the Houthi armed group, aiming to recapture all areas controlled by the Houthis. After the Houthis rapidly advanced south in September and seized the Bab el-Mandeb Strait and large swathes of the Red Sea coast, the Yemeni civil war has re-entered a high-intensity phase, with Red Sea shipping and Saudi energy facilities emerging as key focal points of the conflict. Rashad al-Alimi, chairman of Yemen’s Presidential Leadership Council, said in a televised speech on Sunday that government forces will continue their operations until the country is freed from Houthi control. The military subsequently demanded that the Houthis lay down their arms. Al-Alimi noted that the government’s decision to launch the counteroffensive was made after all opportunities to de-escalate the conflict had been exhausted, thanked Saudi Arabia for its support, and called on regional allies and international partners to assist government forces and state institutions.

Security firm Salus claims that Revenue is linked to malicious authorization. Attackers submitted users’ permit signatures to gain unlimited permission to spend their USDG, then immediately called transferFrom. The authorization and fund transfer were completed in a single transaction, draining users’ wallets. The funds were subsequently split between two hacker addresses at a 20/80 ratio. The report notes that this distribution structure resembles Inferno’s drainer-as-a-service model, while its promotion method aligns with the scam pattern of FomoPeek, which uses KOLs to carry out fraud. Public information shows that Revenue serves as an exit channel for X Money, allowing users to convert funds into cryptocurrency or send crypto to X Money without KYC.

Patricio Worthalter(@worthalter) deposited 4,000 $ETH($10.79M) into #Gemini 8 hours ago.

S&P Global Ratings has unveiled the Vault Risk Assessment (VRA), a risk evaluation framework for on-chain lending vaults, applicable to vaults that provide liquidity to blockchain lending markets collateralized by crypto assets or tokenized real-world assets (RWA). The VRA will comprehensively assess factors including underlying asset credit risk, protocol and blockchain risks, vault operator risk, and liquidity, using rating symbols such as AAA(v), where AAA(v) represents the lowest risk. S&P emphasized that the VRA is not a traditional credit rating, nor does it evaluate vault yields or guarantee their credit quality.