Today in History: 1st Anniversary of the Nearly $20 Billion Epic Liquidation Linked to the '1011' Event

Binance founder CZ has released a simplified crypto asset custody guide, advising users to match security measures based on their own holdings size and technical capabilities, with a focus on three key issues: preventing asset theft, avoiding accidental loss, and planning for asset inheritance in advance. For self-custody, CZ recommends users store private keys on offline devices, use reliable hardware wallets, verify transaction addresses, and set up multiple off-site backups. He also warns users against saving keys via photos or screenshots to prevent leaks from syncing to cloud storage. Regarding asset inheritance, users should develop a secure recovery plan in advance, avoiding direct sharing of keys or storing recovery information in unencrypted form. For centralized trading platforms, CZ advises users to evaluate the platform’s reputation, security capabilities, and business model, and strengthen account protection through measures such as independent email addresses, strong passwords, two-factor authentication, hardware security keys, and withdrawal address whitelisting. He also cautions users to be wary of phishing attacks and API credential leaks. CZ further suggests that users allocate their assets reasonably between centralized trading platforms and personal wallets based on their technical capabilities, security management level, and fund usage needs. Self-custody means users bear sole responsibility for protecting private keys and asset recovery, while platform custody involves platform credit and counterparty risks. Additionally, maintaining an independent wallet helps preserve access to assets during platform maintenance or service interruptions.

Sources familiar with the matter told the Financial Times that Nvidia (NVDA.O) is in talks to acquire U.S. startup Reflection AI or boost its investment in the open-weight model developer. Negotiations remain in the early stages, and a potential deal could take multiple forms, including a so-called "talent acquisition"—a move where Nvidia hires Reflection’s staff and secures its technology license, bypassing the lengthy regulatory reviews usually required for a full acquisition. Nvidia is already one of Reflection’s largest shareholders; it could also deepen the pair’s relationship via additional equity investment or an agreement to supply more chips and computing power to the startup. The sources noted that a deal could be struck between the two firms in the coming weeks. Reflection was valued at $25 billion in a financing round this March. (Financial Times UK)

Ledger Support has released an update confirming an unauthorized hardware implant was discovered in one affected user’s device. The company is currently contacting impacted users and continuing its investigation. Ledger is calling on anyone with relevant information to come forward, and states it is cooperating with law enforcement to hold those responsible accountable. Out of caution, CryptoBilis has confirmed it is suspending sales of all hardware wallet inventory until the investigation concludes, with Ledger actively communicating with the dealer on next steps. Ledger adds there are currently no signs its security infrastructure, systems or services have been breached. For users who purchased Ledger devices from this dealer: if you have not completed initialization, do not set up the device yet; if you have already set it up, consider transferring your assets to a new Ledger signing device with a new recovery phrase. Ledger emphasizes that security threats are evolving, and the company is continuously improving its security protections and advancing more advanced tamper-resistant solutions. It also reminds users to be vigilant against scams taking advantage of this situation, and to only access the latest information through Ledger’s official channels. Ledger will never request users’ 24-word recovery phrases.

According to Yu Jing On-Chain Monitor, POAP founder worthalter made a further transfer of 4,000 ETH (valued at approximately $10.02 million) to crypto exchange Gemini six hours ago. Over the past six days, he has offloaded 8,000 ETH (around $20.81 million), and currently holds 51,468 ETH worth $129 million.

According to official announcements, Papertrade, a synthetic perpetual protocol built on HyperEVM, has announced that its daily notional trading volume has surpassed that of Nasdaq. Following this milestone, the protocol has contacted Nasdaq to explore the possibility of implementing 1000x leverage, with the goal of further boosting its trading volume.

According to a statement from Saudi Arabia's General Authority of Civil Aviation, King Khalid International Airport in Riyadh was attacked on Saturday, leaving 12 people dead and 309 others injured.