Selling pressure resurfaces for HYPE: Multicoin Capital unstakes 1.97 million HYPE tokens, valued at approximately $108 million.

NVIDIA CEO Jensen Huang met with U.S. Secretary of Commerce Howard Lutnick on Tuesday. Huang’s trip, centered on meetings with bipartisan leaders, aims to discuss NVIDIA’s plan to produce $500 billion worth of tech products domestically in the U.S. over four years to strengthen the national supply chain, as well as America’s leadership in AI—including its edge in open-source AI. His schedule in Washington this week also includes meetings with Mark Warner, the top Democrat on the Senate Intelligence Committee, and other bipartisan members of Congress. Meanwhile, the Trump administration is finalizing a new framework that would require the most advanced AI models to grant the U.S. government early access before their release, and is weighing its policy stance on open-source AI.

BlockBeats News: Yesterday morning, only one share of SK Hynix traded in South Korea’s pre-market at 1,272,000 won, equivalent to roughly $868. This transaction, worth less than $900, was subsequently fed into TradeXYZ’s pricing system, causing the SKHX perpetual contract to plunge to a low of $927 from $1,128.2 in one minute. Within less than three minutes, hundreds of accounts were liquidated by the system. Over the next four hours, the total liquidation volume rose to around $80 million. If Trade.xyz follows its announcement to compensate all liquidation losses caused by this price anomaly, the total payout could reach roughly $80 million. According to HyperInsight’s detailed on-chain address tracking, the notional value of SKHX liquidations in the short period hit approximately $79.398 million, with open interest dropping from $481 million to $331 million—a decrease of around $150 million. The top three addresses on the liquidation list were collectively liquidated for $14.7754 million; among them, the address starting with 0x320 (the one with the largest loss) was liquidated for roughly $3.957 million, resulting in a loss of about $2.045 million. This morning, Trade.xyz released an announcement regarding the Hynix contract "pinning" incident, stating it will cover all liquidation losses caused by this price anomaly on a one-time, discretionary basis. Specific eligibility requirements will be announced soon, and payouts are expected to be completed within several days. The platform explicitly noted that this decision "does not constitute a guarantee for similar situations in the future." For more related reports, see "How $868 Moved the $500M Hynix Contract Market: The Truth Behind the Hyperliquid Pinning Incident."

Caixin published an article titled "The Collapsed Balance Sheet of the Boxing Champion", which disclosed that for the six individual natural person creditors who are friends of boxing champion Zou Shiming and his wife, compared to other losses, funds invested in P2P and virtual currencies are the only sums that still have the possibility of recourse. Properties have been sold, luxury goods have been sold at a discount, boxing gym renovations have been written off, and cross-border projects have been shut down—all are irreversible sunk costs. However, P2P and virtual currencies are different: if the platform has not yet completed liquidation, or if the wallet address is still traceable, there is theoretically room for subrogation recovery. For example, Beijing procuratorial organs in China once used penetrating review combined with blockchain big data analysis tools to track the flow of virtual currencies, successfully recovering over 89 million yuan in illicit funds.

Ten European financial institutions have jointly established the Regulated Layer One (RL1) blockchain cooperative, which will provide infrastructure for regulated financial markets and tokenized assets. Founding members include ING Group, Spain’s Cecabank, France’s Crédit Mutuel Alliance Fédérale, Germany’s DekaBank, DZ BANK, LBBW, France’s Natixis CIB, Standard Chartered’s SC Ventures, and Seturion, among others. RL1 is a Luxembourg-registered European cooperative, with all members holding equal governance and decision-making rights. The private permissioned chain is built on infrastructure developed by German fintech firm SWIAT, which has transferred ownership of the network to the cooperative. RL1 aims to support institutional use cases including digital currencies, tokenized bonds, collateral, and blockchain settlement, while reducing fragmentation caused by financial institutions operating their own distributed ledger systems.

According to monitoring by TenArmorAlert, a suspicious attack involving the LULA token on the BNB Smart Chain (BSC) has been detected, causing approximately $578,100 in losses.

According to GMGN data, the on-chain Meme coin PIPEDOG (Pipedog) on Robinhood’s blockchain hit a market cap of over $74.5 million and a trading volume of $34.8 million within four hours of its launch. BlockBeats reminds users that most Meme coins lack practical use cases, exhibit high price volatility, and advises investors to exercise caution.