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

According to Token Unlocks data, tokens including SUI, EIGEN, and ENA will see major unlocks this week, with UTC+8 times as follows: Falcon Finance (FF) will unlock approximately 77.14 million tokens at 9 PM on September 29, representing 2.51% of its circulating supply and valued at around $10.2 million; Collector Crypt (CARDS) will unlock about 59.26 million tokens at 3 AM on September 30, accounting for 10.62% of its circulating supply and worth roughly $10.7 million; Kamino (KMNO) will unlock approximately 229 million tokens at 8 PM on September 30, making up 2.81% of its circulating supply and valued at about $10.8 million; Sui (SUI) will unlock around 13.26 million tokens at 8 AM on October 1, equivalent to 0.32% of its circulating supply and worth roughly $16.7 million; EigenCloud (EIGEN) will unlock approximately 36.82 million tokens at 12 PM on October 1, representing 5.19% of its circulating supply and valued at around $10.3 million; Ethena (ENA) will unlock about 40.63 million tokens at 3 PM on October 2, accounting for 0.45% of its circulating supply and worth roughly $11 million; DoubleZero (2Z) will unlock approximately 1.66 billion tokens at 9 PM on October 2, making up 47.69% of its circulating supply and valued at around $114 million.

According to Bitget market data, South Korea’s KOSPI index saw an intraday decline of 1.00%. Samsung Electronics fell 2.54%, while SK Hynix dropped 2.82%.

According to HTX market data, the crypto market remains range-bound and volatile. Bitcoin is trading at $85,000, Ethereum at $2,700, SOL at $122, ZEC at $1,590, and BNB at $783. The total cryptocurrency market cap is down 1% over 24 hours, standing at $2.966 trillion. Altcoins continue to rotate, with cross-chain infrastructure token QNT leading gains, followed by GRT and W. Among Solana ecosystem tokens, PUMP is the top gainer, with ORCA, JUP, MET, and others rising around 10%. Top gainers include: QNT, trading at $304.01, up 102.85% in 24 hours. On September 24, The Clearing House selected Quant to provide interoperability and settlement technology for its on-chain currency project, and the market has been buzzing over its partnership with the U.S. banking system. Other notable gainers: GRT at $0.03517 (+28.45%), W at $0.01565 (+19.47%), IMX at $0.1916 (+16.69%), JASMY at $0.005544 (+16.24%), PUMP at $0.005073 (+15.69%), SEI at $0.08109 (+13.75%), AUDIO at $0.01698 (+13.65%), NOM at $0.002325 (+12.65%), and ORCA at $1.795 (+9.92%).

California Governor Gavin Newsom signed a series of bills on September 27, including banning California public officials from issuing meme coins and prohibiting trading platforms from listing meme coins featuring public officials’ images. The legislation also establishes a victim recovery mechanism to crack down on cryptocurrency fraud and money laundering, and clarifies procedures for seizing crypto assets belonging to transnational criminal networks. In his signing statement, Newsom specifically criticized former President Donald Trump’s 2025 personal meme coin TRUMP, noting that nearly 1 million buyers have suffered total losses exceeding $3 billion, while Trump himself profited approximately $636 million.

According to HTX market data, Bitcoin has broken through the $85,000 level, with a 0.75% 24-hour gain. Ethereum has surged past $2,700, posting a 0.2% rise over the same period.

Solana-based token launch platform StonkFun’s official X account has been restored to normal following a brief suspension by the X platform. According to GMGN data, STONK’s current market capitalization stands at $202 million.