US Stock Futures Dive Further

Blockchain analytics firm Chainalysis has issued a security incident notification, revealing that external attackers used agentic techniques this month to gain unauthorized access to its systems and internal tools. The team is currently conducting a full investigation into the unauthorized activities, patching vulnerabilities, and bolstering system security. According to Chainalysis, based on the evidence collected so far, there are no signs of unauthorized access to investigation materials (including charts, notes, case information), transaction or query results, plaintext passwords, multi-factor authentication (MFA) keys, or user session tokens. However, some non-sensitive customer data has been accessed, including platform user IDs, names, email addresses, and organizational role information, affecting relevant customers and their organizational members. Chainalysis is verifying the exact affected records and will release further details later. The firm also stressed that this security incident is unrelated to the recent Binance crypto asset theft.

Dallas Federal Reserve President Logan said Friday that under the current economic outlook, the U.S. Federal Reserve needs at least two more 25-basis-point interest rate hikes, totaling 50 basis points in policy rate increases, before pausing to assess economic and financial conditions for its next steps. This week, Logan was part of the Fed’s 10-2 voting majority, supporting keeping the federal funds target rate range at 3.75%–4.00%. She noted that current inflation still requires further curbing, with the policy rate needing to rise by at least another 50 basis points to sufficiently constrain the economy and push inflation back to the 2% target. Logan pointed out that tech investment prospects and geopolitical tensions are driving financial market volatility; in this context, gradual policy adjustments help households, businesses, and market participants adapt to higher interest rates, reducing the risk of unnecessary sharp deterioration in economic activity. She also emphasized that the Fed should clearly communicate its policy goals — a stance that differs from Fed Chair Walsh’s view that such policy guidance should only be provided during crisis periods. Logan added that the current financial environment still supports economic growth, and the rise in long-term borrowing costs mainly reflects investors’ expectations of economic expansion and higher interest rates, rather than a separate factor weighing on the economy. Even if the Fed skips a rate hike at a single meeting, it will not alter its ultimate policy target; as long as the market understands the Fed’s policy plan, the specific timing of rate hikes has a limited impact on long-term interest rates paid by borrowers.

According to data from the BIT stock platform, U.S. stocks closed on Friday: the Dow Jones Industrial Average initially fell 1.09%, the S&P 500 dropped 1.82%, the Nasdaq slid 2.86%, and the Philadelphia Semiconductor Index slumped 7.2%. Intel (INTC.O) plunged 28.58%, marking its worst single-day performance in at least four decades. SanDisk (SNDK.O) fell 14.1%, Qualcomm (QCOM.O) dropped 11.12%, AMD (AMD.O) slid 10.88%, Micron Technology (MU.O) declined 5.3%, NVIDIA (NVDA.O) fell 4.22%, Amazon (AMZN.O) dropped 1.41%, and Alphabet (GOOGL.O) fell 1.4%.

Per EmberCN monitoring, an entity address transferred 912,383 HYPE tokens (valued at around $82.09 million) to institutional trading platform FalconX roughly two hours ago. The tokens were accumulated over the past 1 to 2 months via Coinbase Prime and FalconX, with an average cost of approximately $81 each. The transfer was executed at a current price of around $90 per token, generating an estimated profit of roughly $8.03 million.

Beating AI News Flash: According to a Financial Times report, OpenAI has cut its target size for the latest funding round by $10 billion and is now rushing to finalize the deal. Earlier sell-offs in public-market AI stocks, combined with the upcoming IPO of its top rival Anthropic, have cast a shadow over the round. ChatGPT developer OpenAI originally planned to raise $30 billion at a $1.4 trillion valuation last month, marketing the deal as the final chance for investors to take a stake in OpenAI ahead of its planned IPO next year. At the time, OpenAI cited rapid revenue growth since July to justify the valuation, which nearly doubled from the previous $852 billion. However, as tech stocks faced heavy sell-offs and market concerns over the scale and growth rate of AI spending intensified, OpenAI began lowering its funding expectations. Multiple sources familiar with the matter disclosed that OpenAI is now seeking to raise around $20 billion at a $1.25 trillion valuation. OpenAI set the investor subscription deadline for last Friday. Sources added that the first close of the funding round is expected to be less than $20 billion, as some investors have reduced their subscription commitments.

According to EmberCN's monitoring, over the past two hours, Ethena has transferred 128.6 million ENA tokens to Binance, valued at approximately $24.33 million. EmberCN speculates that Binance is currently repurchasing the stolen assets via both on-exchange and over-the-counter (OTC) trades to fill the asset gap in its Proof of Reserves (PoR). This transfer may be linked to Binance's OTC purchase of ENA from Ethena. Earlier, 217.5 million ENA tokens were stolen in the Binance hack, and the exact nature of the transactions remains unconfirmed.