According to Onchain Lens monitoring, the whale that previously re-established a long position in Ethereum (ETH) with 25x leverage has now turned losses into profits, with a floating profit of approximately US$8 million and a cumulative income of approximately US$5.8 million.

Binance issued a statement addressing the significant market volatility triggered by global macroeconomic events between 04:50 and 06:00 Beijing Time on October 11th. Officials stated that the overall crypto market plummeted due to concentrated selling by both institutional and retail investors. Binance has conducted a comprehensive review and confirmed that its core futures and spot matching engines and API trading remained normal throughout. Only some modules experienced a brief technical glitch after 05:18 Beijing Time on October 11th, resulting in the depegging of certain assets. Binance provided compensation of approximately $283 million to affected users within 24 hours of the incident, primarily covering collateral losses caused by the depegging of USDE, BNSOL, and WBETH. Additionally, Binance will compensate users who incurred losses due to internal transfers and delayed redemptions of Earn products. Regarding the extremely low prices of certain spot trading pairs, Binance explained that this was primarily due to historical limit orders being triggered by one-sided liquidity and UI display accuracy issues, and was not a system error. Officials have pledged to further optimize the interface display and liquidity mechanism, and will continue to publicly update compensation progress. Binance reminds users that the current cryptocurrency market is volatile and traders should maintain risk control and allocate positions reasonably.

OKX market data shows that BTC has broken through 115,000 USDT and is currently trading at 115,044.4 USDT, a 24-hour increase of 4.06%. (This newsletter is generated by AI)

In response to the recent market decline, Binance issued a statement stating: - The decoupling of some Binance yield products related to USDE, BNSOL, and WBETH occurred after the market crash. This decoupling impacted some users who held these assets as collateral and were forced to liquidate their positions. Binance has assumed responsibility and fully compensated them for their losses. Compensation has been paid in two tranches, totaling approximately $283 million. - During the period of significant market volatility, internal fund transfers and Earn product redemptions experienced brief delays, impacting timely margin replenishment. Binance will compensate users with verified losses. Furthermore, regarding the extreme price fluctuations of certain tokens on the Binance platform, Binance stated: - Historical limit orders (some dating back several years, even as early as 2019, such as IOTX and ATOM) remain on the platform. During a significant market sell-off and insufficient buy orders, sell orders continued to execute these long-term limit orders, causing a temporary and significant drop in token prices. Some trading pairs (such as IOTX/USDT) recently reduced the number of decimal places in the minimum price change, causing the user interface to display prices as zero. This is a display issue, not an actual zero price. Binance will optimize the UI display and correct the abnormal price display in the UI (without further announcement) to ensure a better trading experience. The API interface is not affected.

OKX market data shows that ETH has broken through 4100 USDT and is currently trading at 4103.23 USDT, a 24-hour increase of 7.43%. (This newsletter was generated by AI)

OKX market data shows that BTC has broken through 114,000 USDT and is currently trading at 114,012.6 USDT, a 24-hour increase of 1.94%. (This newsletter was generated with AI assistance)

According to crypto analyst Ember @EmberCN, a whale who panic-cleared their Ethereum (ETH) holdings at $3,764 the day before yesterday during the sharp drop, repurchased 7,817 ETH at $4,159 today after the price rebounded, totaling approximately 32.511 million DAI. Based on the difference between the two trades, this whale's "buy low, sell high" strategy resulted in a loss of approximately 820 ETH, representing a loss of approximately $3.4 million.

According to Onchain Lens, a wallet associated with 1kx co-founder Christopher Heymann (@HeyoChristopher) deposited 2 million USDC into Hyperliquid and reopened a long position in ENA with 10x leverage. Previously, this address had deposited $4.22 million into Hyperliquid, but this was liquidated during the recent market downturn.

US President Trump currently indirectly holds approximately $870 million in Bitcoin, potentially making him one of the world's largest Bitcoin investors. Reports indicate that Trump indirectly holds a significant amount of Bitcoin through his stake in Trump Media & Technology Group (TMTG). TMTG, which operates the social platform Truth Social, has a multi-billion dollar market capitalization on the Nasdaq despite generating less than $4 million in annual revenue. Earlier this year, TMTG raised $2.3 billion through debt and the sale of overvalued stock, and purchased approximately $2 billion in Bitcoin in July. Since then, Trump's stake in the company has decreased from 52% to 41%. Since the company's investment in Bitcoin, the price of BTC has risen by approximately 6%, and it is estimated that the Bitcoin equivalent to Trump's stake is worth approximately $870 million. (Forbes)

According to PANews, the European Banking Authority has released a new report focusing on how the cryptocurrency industry is attempting to circumvent new regulations such as the Markets in Crypto-Assets (MiCA) and its expanded anti-money laundering and counter-terrorism financing legislative framework. MiCA, which came into effect at the end of 2024, establishes unified regulatory rules for crypto asset service providers across the 27-member economic bloc. While the report does not specify particular companies, it notes that some entities may continue to evade regulatory requirements, potentially impacting the integrity of the EU's financial system. One significant risk identified is 'regulatory arbitrage,' where companies obtain regulatory approval in countries with more lenient oversight to operate in other EU regions. Before MiCA's implementation, an unnamed entity applied for registration in multiple countries and later withdrew from jurisdictions under scrutiny to operate in less challenged nations. Although MiCA became fully effective last year, a transition window is set until July 1, 2026, allowing entities that have appealed against authorization conditions to continue operations during this period. Additionally, some cryptocurrency companies may lack clear identification of actual beneficiaries and governance structures. One virtual asset service provider (VASP) was found to be operated by over 20 unregulated entities outside the EU, raising concerns about transparency. Such opaque structures could lead to the misuse of front companies as channels for money laundering.

Golden Finance has launched the 2844th issue of "Golden Morning 8", a morning newspaper for the cryptocurrency and blockchain industry, providing you with the latest and fastest digital currency and blockchain industry news.

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