Morning Report | QCP: Bitcoin faces dual challenges from geopolitical issues and macro data, key support levels under scrutiny; Grayscale Research Director: Computing power is becoming a new scarce digital asset

Compiled by: ChainCatcher

What important events occurred in the past 24 hours?

QCP: Bitcoin Faces Dual Pressure from Geopolitics and Macroeconomic Data, Key Support Levels Under Scrutiny

According to ChainCatcher, QCP analysis indicates that global markets opened under multi-asset pressure, with investors reducing risk exposure. The Nasdaq 100 index fell from 744.45 to 737.76 in pre-market trading, gold dropped from $4260 to $4147, Bitcoin decreased from $84500 to $82800, and the dollar index also declined, reflecting widespread deleveraging rather than a shift to safe-haven assets. QCP stated that the main driving factor is geopolitics: the U.S. rejected a ceasefire proposal regarding the Strait of Hormuz last weekend, reigniting concerns over energy supply disruptions and driving a significant rise in Brent crude oil prices. This week, the U.S. macroeconomic calendar is dense. Following the recent interest rate hike by the Federal Reserve, the PCE price index and non-farm payroll report are key data points, and the market remains highly sensitive to data that could influence further monetary policy adjustments. In terms of crypto options, front-end implied volatility remains high, with traders pricing for downside protection. Spot Bitcoin ETF fund flows show hesitation amid broader liquidation. Bitcoin's recent technical strength faces dual pressure from geopolitical uncertainty and macroeconomic data risks, with key support levels under scrutiny.

South Korean Financial Services Commission: Considering Introducing Market Maker System for Virtual Assets

According to ChainCatcher, Digital Asset reports that the South Korean Financial Services Commission (FSC) digital finance policy officer Yoo Young-jun stated that they are considering introducing a market maker system for the virtual asset market to enhance market efficiency and stability. Although the current "Virtual Asset User Protection Act" prohibits market-making activities, this move indicates that the FSC intends to revisit and consider introducing this mechanism in the second phase of the legislative process. Yoo Young-jun also mentioned that exchanges need to have sufficient capital and operational capabilities, and core functions (such as transaction execution, trading support, and abnormal trading monitoring) may shift from self-regulation to public regulation; governance rules related to major shareholders and management are expected to strengthen; and after the bill is implemented, it is expected to promote business diversification, the establishment of a trustworthy trading environment, digital asset issuance and disclosure systems, Korean won stablecoins, and enhanced user protection.

Franklin Templeton Expands Tokenized Collateral Services to Bybit

According to ChainCatcher, CoinDesk reports that Franklin Templeton has expanded its "Over-the-Counter Collateral Program" to Bybit, allowing users of the exchange to use their tokenized money market fund shares for crypto trading. Users can use their shares as collateral to borrow stablecoins USDT or USDC, while the underlying assets continue to generate returns. The related shares represent approximately $686 million in net assets. The underlying assets will not be transferred to Bybit but will be held off-exchange by the regulated custodian platform ByCustody, with their value mirrored in the Bybit trading environment, thereby generating returns while releasing trading liquidity. The shares are issued through the Benji technology platform, which is Franklin Templeton's proprietary blockchain-integrated record-keeping and transfer agency infrastructure, currently paying an annualized return of 3.7% based on the latest 7-day interest rate. This is not the first time Franklin Templeton has launched an over-the-counter collateral collaboration, as it has previously provided tokenized money market funds to Binance and OKX clients. Sandy Kaul, head of digital assets and innovation at Franklin Templeton, stated that investors can now use collateral more optimally across mainstream exchanges and earn returns, which is crucial for ecosystem growth. This expansion also reflects industry trends, with platforms like Crypto.com and Deribit allowing qualified users to use BlackRock's BUIDL fund as trading collateral.

Goldman Sachs: South Korean Retail Funds Flowing into Crypto, KOSPI's Upward Movement More Dependent on Foreign Investment

According to ChainCatcher, Goldman Sachs' global investment research department's South Korea equity analyst Chris Cha stated in a report on September 23 that the KOSPI has conditions for a short-term tactical breakout, but the continued liquidity flow from South Korean retail investors into the crypto market will make the index's subsequent upward movement more reliant on foreign and local institutional reallocation. The report states that concerns over Federal Reserve interest rates have been partially digested by the market, with risk appetite shifting towards proxy AI themes. The report points out that South Korea's memory chip sector provides fundamental support, with fourth-quarter DRAM contract prices expected to grow double digits quarter-on-quarter, and HBM4 capacity ramp-up will continue to limit standard server DRAM supply. Large shareholder returns from Samsung Electronics, continuous buying by institutions, and foreign investment turning into net buying may drive the KOSPI towards the resistance zone of 7000 to 7200 points. The report also notes that the capacity of local retail investors in South Korea has weakened. After Bitcoin returned to $85,000, crypto trading in South Korea has heated up. According to DefiLlama data cited in the report, Upbit's single-day spot trading volume on June 13 was approximately $770 million, rising to $1.817 billion on September 22, an increase of about 136%. Based on the total trading volume of $3.27 billion from South Korea's five major trading platforms that day, Upbit accounted for over half. Goldman Sachs believes this will make the KOSPI's subsequent movements more dependent on foreign and institutional buying, with October being a key window to test whether foreign investors will continue to increase their positions in South Korean semiconductor and AI assets.

Société Générale: Federal Reserve Unlikely to Repeat 2022 to 2023 Rate Hike Cycle

According to ChainCatcher, Société Générale strategist Chi Lo stated that although the market expects two more rate hikes, the Federal Reserve's September rate hike is unlikely to mark the beginning of a new tightening cycle similar to that of 2022 to 2023. Instead, this may signal the start of preventive rate hikes aimed at bringing inflation back to target levels by reversing last year's three rate cuts. He stated that further rate hikes will not resolve external shocks such as war and energy price inflation but will alleviate financial market concerns about the Federal Reserve's anti-inflation credibility. The Federal Reserve cannot continue to ignore recurring shocks or those that fail to dissipate as expected. By slowing activity in other areas of the economy to curb inflationary pressures, further rate hikes may also risk pushing the economy into stagflation.

Tether Assists in Freezing Nearly $550 Million in Iran-Related USDT

According to ChainCatcher, stablecoin USDT issuer Tether announced on September 28 that actions involving USDT in 2026 have frozen approximately $550 million, with the related wallets identified by U.S. authorities as being linked to the Central Bank of Iran and the Iranian sanctions network. Tether stated that its cooperation with U.S. and international authorities has supported over 2900 investigations globally, with more than 1600 involving U.S. law enforcement. According to Tether, in April 2026, it assisted in freezing over $344 million in USDT across two addresses based on information provided by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and U.S. law enforcement. The next day, OFAC listed these addresses as digital currency identifiers of the Central Bank of Iran, with the sanctions entry associated with the Islamic Revolutionary Guard Corps Quds Force and Hezbollah. In July 2026, the Treasury expanded the designated scope to four additional TRON addresses, with over $130 million in USDT frozen across the four wallets. Tether CEO Paolo Ardoino stated that USDT is not a safe haven for sanctioned actors, terrorist organizations, or criminal networks, and that public blockchains allow authorities to see the flow of funds, enabling Tether to act when law enforcement provides credible information. Tether also stated that it collaborates with over 340 law enforcement agencies in 67 countries, and its wallet freezing policy has been aligned with the OFAC Specially Designated Nationals list.

MEXC User: Account Hacked, API Not Revoked, Approximately $340,000 Transferred Out

According to ChainCatcher, a MEXC user posted on X that their account was taken over after security items were reset by someone else. MEXC has confirmed the account was hacked, frozen the account, and assisted in recovery, but did not revoke the API left by the attacker. From 04:12 to 04:25 (Beijing time) on September 27, 2026, the account was transferred out 322,110 USDT and 9,133,999 ONE, totaling approximately $340,000, about 27 minutes after the 24-hour transfer limit was lifted. The user stated that they received an email to reset security items at 03:10 on September 25, which was not submitted by them, and the request was approved about 10 minutes later. Subsequently, the account was logged in from an IP in Jakarta, Indonesia, bound to Google verification, and an API was created at 05:05, about 83 seconds after logging in. On the same day at 10:55, MEXC froze the account and reverted to the original email after discovering the risk during a review. Customer service responded in writing that the review materials met the requirements, so the change was approved, and after the review found risks, the account was urgently frozen and reverted to the initial email. The user changed their password and Google verification on September 26 but stated that the API was not revoked, and there were no related records in the security operation history. The user also claimed that there were no new login records when the assets were transferred out. They have submitted a formal claim to MEXC and attempted to report to the police, with the ticket number M2026092712031, requesting the platform to preserve logs, provide a written explanation of the review and API situation, and return the aforementioned assets. MEXC customer service stated that it is currently unable to confirm whether these transfers were initiated via APP, WEB, or API, and the issue has been forwarded to the relevant department.

Data: Bitcoin Spot ETF Saw Net Inflows of $2.386 Billion Last Week, Hitting a Nearly One-Year High

According to ChainCatcher, based on SoSoValue data, Bitcoin spot ETFs saw net inflows of $2.386 billion during the trading week (Eastern Time September 21 to September 25). The Bitcoin spot ETF with the highest net inflow last week was BlackRock ETF IBIT, with a weekly net inflow of $1.158 billion, bringing IBIT's historical total net inflows to $65.28 billion; followed by Fidelity ETF FBTC, with a weekly net inflow of $702 million, bringing FBTC's historical total net inflows to $11.06 billion. The Bitcoin spot ETF with the highest net outflow last week was WisdomTree Bitcoin Trust BTCW, with a weekly net outflow of $4.0161 million, bringing BTCW's historical total net inflows to $78.65 million. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $108.42 billion, with an ETF net asset ratio (market value as a percentage of Bitcoin's total market value) of 6.43%, and historical cumulative net inflows have reached $57.55 billion.

ENS Labs and GLEIF Explore Associating ENS Names with Verifiable Legal Entity Identifiers

ChainCatcher news, Ethereum domain service developer ENS Labs and the Global Legal Entity Identifier Foundation (GLEIF) are exploring how institutions can link their ENS names with verifiable Legal Entity Identifiers (vLEI) to form a continuous and verifiable identity on-chain. ENS is the domain and identity system of the Ethereum ecosystem, allowing users to replace long addresses with readable names. GLEIF is responsible for managing the global Legal Entity Identifier (LEI) system, and vLEI is its verifiable version used to confirm the legal entity identity of organizations. The direction of this collaboration is to connect on-chain names with regulated legal identity credentials, but the specific product form and launch time have not been disclosed in public posts.

The Kobeissi Letter: Non-U.S. Investors Held $24.32 Trillion in U.S. Stocks in July, the Third Highest on Record

ChainCatcher news, financial newsletter The Kobeissi Letter posted on X stating that the scale of U.S. stocks held by non-U.S. investors is at a historical high. The account wrote that in July, investors outside the U.S. held $24.32 trillion in U.S. stocks, marking the third largest scale in history. The Kobeissi Letter noted that foreign holdings of U.S. stocks have increased by $2.22 trillion this year, a growth rate of 10%. Since the bear market of 2022, this holding scale has increased by $12.3 trillion, a growth rate of 103%. The newsletter also stated that the proportion of foreign investment in U.S. stocks has risen to 60% of their U.S. financial assets, setting a record, and is currently about 6 percentage points higher than the peak during the 2000 internet bubble.

MEXC Responds to $340,000 Account Theft, Claims Preliminary Investigation Completed

ChainCatcher news, regarding the abnormal transfer of user account assets, the MEXC customer service team responded on September 28, stating that they have completed a preliminary investigation and provided corresponding solutions. They will follow up with users via email for one-on-one communication, updating them on progress and required information, and remind users to pay attention to their registered email and official channel communications. Previously, a MEXC user posted on X claiming that their account was taken over after someone reset their security items, with 322,110 USDT and 9,133,999 ONE transferred out between 04:12 and 04:25 (Beijing time) on September 27, totaling about $340,000, approximately 27 minutes after the 24-hour transfer restriction was lifted. The user stated that MEXC has confirmed the account was stolen and frozen the account to assist in recovery, but has not revoked the API left by the attacker, and they have submitted a formal claim with the ticket number M2026092712031.

Ark Invest: AI Makes Vulnerabilities Easier to Discover and Exploit, Bitcoin and Hardware Wallets May Be First Affected

ChainCatcher news, according to Ark Invest Tracker, Ark Invest stated that AI hacking attacks are affecting everything. The risks extend far beyond Bitcoin, as AI makes software vulnerabilities easier to discover and exploit. Bitcoin and hardware wallets may be the first to be impacted, but social media, tax, and banking websites may face the same threats. Trusting a major brand still means trusting that the company will not make mistakes as AI becomes increasingly powerful. ARK expects that large custodial institutions will also become targets, with AI potentially discovering and exploiting vulnerabilities at an unprecedented speed.

Bloomberg: China Expands Overseas Travel Restrictions for Top AI Talent to Family Members

ChainCatcher news, according to Bloomberg, China has expanded overseas travel restrictions for top AI talent in private enterprises to include their family members. Sources say that for executives of AI companies deemed critical to national security, their immediate family members, such as spouses and children, must obtain official approval even for short-term departures. Relevant departments have begun notifying affected individuals and will gradually enhance the list of restrictions on AI talent leaving the country. The Ministry of Industry and Information Technology of China did not respond to requests for comment. Previously, China's new regulations on exit and entry management took effect on September 15, imposing exit restrictions on individuals suspected of endangering national industrial and technological security. Reports indicate that following Meta's attempt to acquire Manus for $2 billion, concerns about the outflow of key technologies and talent have intensified, leading to an official order to cancel the transaction and requiring some tech companies to refrain from accepting U.S. capital investments without approval.

Data: Ethereum Spot ETF Saw a Net Inflow of $690 Million Last Week, BlackRock's ETHA Led with $326 Million

ChainCatcher news, according to SoSoValue data, last week the Ethereum spot ETF saw a net inflow of $690 million. The Ethereum spot ETF with the highest net inflow last week was BlackRock's ETF ETHA, with a weekly net inflow of $326 million, bringing ETHA's historical total net inflow to $13.28 billion. Following that was Fidelity's ETF FETH, with a weekly net inflow of $174 million, bringing FETH's historical total net inflow to $2.42 billion. As of the time of publication, the total net asset value of Ethereum spot ETFs is $17.78 billion, with an ETF net asset ratio (market cap as a percentage of Ethereum's total market cap) of 5.42%, and the historical cumulative net inflow has reached $13.94 billion.

REX and Osprey Update SEI Staking ETF Filing, Set to Take Effect on October 23

ChainCatcher news, Sei Network posted on X stating that REX Shares and Osprey Funds have updated their SEI staking ETF application documents with the U.S. Securities and Exchange Commission (SEC), setting October 23 as the effective date. The document specifies that this revision is solely for designating a new effective date for previously submitted amendments, involving funds such as REX-Osprey SEI + Staking ETF, SUI + Staking ETF, HYPE + Staking ETF, NEAR + Staking ETF, AAVE ETF, ADA + Staking ETF, ATOM + Staking ETF, and AVAX + Staking ETF.

Ledger CTO: Doubts About the Claim That Only About 30% of BTC Faces Quantum Risk

ChainCatcher news, Ledger CTO Charles Guillemet stated that he disagrees with the view that "only about 30% of BTC faces quantum computing risk, while the remaining 70% is secure due to public key hashing." Glassnode data shows that approximately 30.2% of BTC has exposed spending public keys on-chain, but Guillemet pointed out that this only reflects the on-chain static state, and unexposed public keys may still exist in xpub, devices, PSBT, logs, or backups; once BTC initiates a transaction, the public key will be exposed before transaction confirmation. Guillemet cited Google Quantum AI research stating that under currently non-existent high-speed quantum computer models, attacks on secp256k1 could be completed in about 9 minutes. Therefore, merely hiding public keys does not solve quantum risk, and Bitcoin will ultimately need to migrate to post-quantum cryptography.

Bitmine Increased Holdings by 17,362 ETH Last Week, Total Holdings Exceed 6 Million ETH

ChainCatcher news, according to PR Newswire, Ethereum treasury company BitMine increased its holdings by 17,362 ETH last week, with total ETH holdings surpassing 6 million for the first time. As of September 27, 2026, its total Ethereum holdings reached 6,001,302 ETH, accounting for approximately 4.9% of the total Ethereum supply, with uninterrupted weekly increases since launching the ETH treasury strategy on June 30, 2025. Currently, the total value of cryptocurrencies, cash, and other investment assets held by BitMine is approximately $17.2 billion, including about $464 million in cash and securities, 213 BTC, $180 million in Beast Industries equity assets, and a $115 million investment in Eightco Holdings (ORBS). Additionally, it has staked 5,067,309 ETH (84% of total holdings), valued at approximately $13.7 billion, with an annualized staking yield of about $358 million. Tom Lee stated in the company's weekly report that so far in the third quarter, ETH has outperformed the S&P 500 by over 6728 basis points, making it the best macro asset globally; he believes the crypto bull market began in late June, and institutions are still underweight in crypto assets, expecting to significantly increase their holdings in the last few months of 2026. Furthermore, Lee will deliver a keynote speech at the Korea Blockchain Week (KBW) in Seoul on September 30.

U.S. 10-Year Treasury Yield Rises to 5.234%, Highest Level Since Mid-2007

ChainCatcher news, on September 28, according to Gate market data, the U.S. 10-year Treasury yield rose to 5.234%, the highest level since mid-2007. The 30-year Treasury yield rose to 5.542%, the highest level since 2004. This indicates that the market is significantly pricing in long-term risks, with heightened concerns about inflation stickiness, the Federal Reserve maintaining high interest rates, and the sustainability of massive fiscal deficits and debt. The long-term borrowing costs for governments, corporations, and consumers are pushed higher, which typically suppresses stock market valuations and tightens global financial conditions, potentially restraining economic growth.

Bitget CEO Responds Live to Platform's First Security Incident in Eight Years: Attack Originated from Third-Party Security Product Vulnerability, Losses Covered by User Protection Fund

ChainCatcher news, in today's community live stream, Bitget CEO Gracy responded to the recent security incident and the platform's financial status. She candidly stated that this is the first security incident Bitget has encountered in its eight-year history. After a complete trace, it was found that hackers exploited a vulnerability in a third-party security product to steal internal network credential permissions, forging withdrawal commands to the wallet system and deceiving the wallet into executing abnormal transfers that bypassed risk checks. Gracy emphasized that no private keys were leaked, and cold wallets were unaffected; specific technical details will be disclosed in a formally released security report. Gracy pointed out that the verified losses from this incident fall within the coverage of the protection fund, ensuring user funds are not affected. The platform's own funds exceed $1.4 billion, including about $464 million in the user protection fund. The platform will continue to uphold the safety commitments made when establishing the protection fund in 2022, planning to replenish the fund to a baseline of $300 million within a week. "The protection fund is not just a slogan; it is an important mechanism to provide tangible security for users in the event of extreme security incidents," Gracy stated, adding that the platform's comprehensive strength and ability to take responsibility in the face of sudden security challenges are important standards for measuring its risk response capability and long-term credibility. Bitget will continue to prioritize user interests in its long-term commitments.

Rising Oil Prices Strengthen Rate Hike Expectations, Precious Metal Prices Decline

According to ChainCatcher, on Monday, precious metal prices continued to decline, with spot gold dropping nearly 3% during the day and spot silver plunging 5%. The rise in oil prices has intensified inflation concerns, reinforcing market expectations for further interest rate hikes by the Federal Reserve. Tim Waterer, Chief Market Analyst at KCM Trade, stated that the combination of high bond yields and high oil prices puts pressure on gold. Investors will focus on U.S. employment and inflation data, including job vacancies, the ADP employment report, the PCE inflation report, and the non-farm payroll report.

Samsung Electronics Accelerates Construction of the First Mass Production Line at Pyeongtaek P5, Equipment Import Target Moved Up to Q2 Next Year

According to ChainCatcher, as reported by ZDNet Korea on September 28, Samsung Electronics is accelerating the construction of the first mass production line (Ph1) at the Pyeongtaek Fifth Campus (P5) and is in discussions with major equipment manufacturers to move the Ph1 equipment import target from the originally planned Q3 next year to Q2 next year. P5 is the next-generation semiconductor production base aimed to start production in 2028, with the construction of the Ph1 cleanroom having already begun in Q3 this year. Samsung Electronics had previously advanced the completion of the Ph1 cleanroom construction, originally scheduled for early next year, by about six months, and equipment import is expected around Q3 next year. Industry insiders indicated that the start time for equipment import is planned to be moved up from July to August next year to around May to June next year; others mentioned that Samsung even proposed to deliver equipment in Q1 next year for temporary storage at other locations, showing a strong willingness to invest early. Discussions on the second phase (Ph2) investment for P5 are also underway. Currently, Ph1 is more likely to be built as a DRAM and HBM production line, while Ph2 is more likely to include advanced NAND production lines, including the tenth generation (V10). Equipment industry insiders stated that formal purchase orders have not yet been issued, but Samsung has discussed building Ph2 as a NAND production line with partners and, due to the long equipment delivery cycle, has requested to prepare relevant components in advance. Reports indicate that major global tech companies are increasing orders for high-performance DRAM and NAND for AI infrastructure, while storage companies like Samsung have limited capacity. Samsung stated during its Q2 earnings call in July that unmet demand this year will extend into next year, with supply shortages expected to be more severe next year and anticipated to last until 2028.

Ministry of National Security: The So-Called Anonymity of Virtual Currencies is a False Proposition

According to ChainCatcher, the Ministry of National Security published an article on its WeChat public account titled "Can Virtual Currency Crimes Be Traced? Think Again!" stating that virtual currencies have become an important tool for criminals engaging in illegal activities, with associated risks including being a "hotbed" for money laundering crimes, a "cover" for cyberattacks, and an "accomplice" for espionage and theft. The article argues that the so-called "anonymity" of virtual currencies is fundamentally a false proposition. It states that blockchain is open and transparent, on-chain data is immutable, and complete transaction records can provide a basis for full-chain traceability. Address anonymity is merely a temporary isolation of wallet addresses from real identities, and fiat currency exchanges leave traces such as device codes and network IPs. The article summarizes this as examining the ledger, checking the chain, and discussing private keys: the entire transaction leaves traces, making it difficult to hide real identities; if private keys are kept by individuals, they cannot be recovered if lost, while if entrusted to a platform, there is a risk of platform collapse or disappearance. The article also states that in February 2026, the People's Bank of China and other departments reiterated that Bitcoin, Ethereum, Tether, and others should not and cannot be circulated as currency, and related activities are strictly prohibited as illegal financial activities. The article warns against high-paying part-time jobs settled in virtual currencies and states that reports can be made through 12339, www.12339.gov.cn, the Ministry of National Security's WeChat public account, or local national security agencies.

Michael Saylor: Calls for Using Digital Tokens to Help Finance 10 Million New Companies

According to ChainCatcher, Michael Saylor stated that as AI changes the way businesses are built, digital tokens can help finance 10 million new companies and reduce fundraising costs and delays. He advocates for simplifying issuance rules while retaining information disclosure and anti-fraud protections. Michael Saylor is the Executive Chairman of Strategy Inc., a Bitcoin treasury company. He proposed that companies could adapt rules for token issuance based on the type of issuance and set information disclosure requirements that match risks, retaining ownership protections and fraud accountability while reducing legal costs. The U.S. Securities and Exchange Commission (SEC) has also proposed an exemption plan for cryptocurrency issuance, one of which allows qualified issuers to raise up to $5 million within four years, and another allows raising up to $75 million every 12 months; both are still proposals and come with disclosure and anti-fraud requirements.

Revolut Obtains Approval from the Central Bank of Argentina to Acquire Banco Cetelem, Plans to Enter the Local Banking Market

According to ChainCatcher, as reported by Crowdfund Insider, digital bank Revolut announced that it has received approval from the Central Bank of Argentina to acquire Banco Cetelem Argentina, a subsidiary of BNP Paribas. After the transaction is completed, the institution will be renamed Revolut Bank Argentina S.A.U. and will operate as a licensed bank, but will initially not offer products or services to the public, waiting to complete remaining regulatory and operational requirements before officially launching local operations. Revolut stated that there are currently over 150,000 people on the waiting list for its Argentine operations.

Chainlink Releases CCIP 2, Allowing Enterprises to Customize Cross-Chain Security Verification

According to ChainCatcher, the oracle network Chainlink released the cross-chain interoperability protocol CCIP 2 on Monday, making significant upgrades to its communication and cross-chain bridge infrastructure. The new version allows enterprises to add their own security verification checks on top of Chainlink's default network of 16 independent node operators. Enterprises can run their own validators or hire external service providers such as Infosys and Nethermind. Chainlink stated that users should not be forced to become "cross-chain security infrastructure experts." This upgrade comes about five months after the Kelp DAO was hacked in April this year. The attacker is reportedly linked to North Korea's Lazarus group and stole approximately $292 million in rsETH by deceiving the single validator relied upon by the Kelp cross-chain bridge. LayerZero attributed the responsibility to Kelp's use of a single validator, while Kelp stated that LayerZero employees had reviewed its setup and raised no objections. Kelp subsequently announced it would migrate rsETH to Chainlink. The upgrade also adjusted Chainlink's previously heavily promoted security mechanism, with its risk management network no longer operating as an independent review node; such independent checks will now be provided by optional validators. This means that users who have not added any validators currently rely on a single verification network, whereas previously they relied on two. Existing Chainlink users have been automatically migrated to the new version, but the company has not disclosed which institutions are using the new validators, only stating that Aave and Maple have begun adopting other features of this upgrade.

Grayscale Research Director: Computing Power is Becoming a New Scarce Digital Asset

According to ChainCatcher, Zach Pandl, Research Director at cryptocurrency asset management company Grayscale, stated in a column on The Stack on September 24 that in the AI boom, the demand and supply paths for the computing power required to train, run, and operate models are diverging. Grayscale believes that this imbalance favors owners of powered and operational computing capacity and presents growth-oriented investment opportunities. Zach Pandl stated that digital demand can expand instantly, but physical infrastructure such as electricity, data centers, chips, memory, and cloud services takes years to approve, connect, and build. When AI agents perform multi-step tasks, they may consume 5 to 50 times more compute tokens than typical chatbot interactions, and increased activity at the application layer will transmit to the underlying computing infrastructure. The article cites data from the International Energy Agency and Lawrence Berkeley National Laboratory, stating that data centers are expected to account for about half of the growth in U.S. electricity demand by 2030, and new projects connecting to the grid may take over five years. Even with electricity secured, permits, skilled labor, electrical equipment, cooling systems, GPUs, high-bandwidth memory, and networks are still needed. Continuous value will flow to power generation companies, data center operators, and AI cloud service providers that can convert electricity into computation.

Payment Technology Company Volante Partners with Circle to Integrate USDC Workflows

According to ChainCatcher, Circle has partnered with payment technology company Volante Technologies to integrate USDC-related workflows into Volante's existing payment platform. Financial institutions can incorporate stablecoin payments and settlements into their existing systems without building a separate digital asset technology stack. Volante's clients include four of the top five corporate banks globally and seven of the top ten banks in the U.S. These institutions will be able to assess processes such as USDC minting, redemption, wallet registration, fund injection, and inter-wallet payments, and use them in parallel with existing payment tracks.

Meme Popularity Rankings

According to data from the meme token tracking and analysis platform GMGN, as of September 29, 08:58,

the top five popular tokens for ETH in the past 24 hours are:

the top five popular tokens for Solana in the past 24 hours are: e/acc, PAID, STONK, FROINK, HOOKED

the top five popular tokens for Base in the past 24 hours are: Basecat, boar, SOL, SPIKE, VVV

What are the Noteworthy Articles to Read in the Past 24 Hours?

Rate Hikes Are Not a Bearish Button, New Highs Are Not a Sell Signal

On the other hand, it is necessary to observe whether the tightening policy begins to produce more obvious lagging effects. If interest-sensitive sectors such as housing and automobiles weaken further and gradually transmit to consumption, employment, and corporate profits, then the implications of this rate hike will change. Historical average data should also be used cautiously. Different rate hike cycles since 1982 have had varying inflation levels, valuations, profit environments, and financial conditions; past average returns after buying at historical highs cannot directly infer that similar returns will be achieved in the next 12 months. Therefore, this set of data is more suitable for excluding overly simplistic judgments rather than providing new certain trading signals: rate hikes do not inherently mean that U.S. stocks should fall, and historical new highs do not inherently mean that the market has ended. The fundamental question that will determine the next phase of market direction remains whether the economy and profits can continue to support current prices.

"Meme Factory" Emerges, How Does the Harvesting Assembly Line of Robinhood Chain Operate?

On September 30, Robinhood's annual conference HOOD Summit will launch new products aimed at active traders. Regarding Pons, the market is also waiting for the rollout of its next-generation version. The market expects that the new version will likely adjust the token issuance mechanism, fees, and graduation rules based on V2. Overall, the original intention of Robinhood Chain is to move stocks onto the blockchain. The methods of continuous token issuance and centralized control of opening have been common across various chains, and here, they are dressed in the guise of stocks and real estate. As more ordinary investors follow stock tokens to this chain, it may still face those old problems.

The Rise of Giant Platforms and Micro Software Companies, Medium-Sized Single Point Solutions Are the Most Dangerous

There is a simple test that founders can do: the blank dialogue box test. Open ChatGPT or another LLM, accurately describe the problems your users come to your application to solve, and then compare its responses with what your product delivers. If most of your product's value can be replicated with a single prompt and a single response, you have a differentiation problem. If your application incorporates structure, accumulates data, habits, precision, connections, or real-world components, that may be where your moat lies. Therefore, AI itself may not be the moat. The more critical question for founders is: what does your product provide to users that a blank dialogue box cannot? RevenueCat's perspective is that winners will use AI at the product's core while competing on the experiences built around it.

In Response to Meta Muse, OpenAI Urgently Launches Personal Assistant, Expected Release on Tuesday

According to the latest Assistant Benchmark evaluation released by JPMorgan Chase, Meta Muse ranks first among all participating AI agents, surpassing several competitors including OpenAI products. This authoritative endorsement has allowed Muse to continuously attract market attention recently and has somewhat captured the pre-release buzz that originally belonged to OpenAI Dev Day. Muse is a personal AI agent capable of executing multi-step tasks on behalf of users, with core capabilities including: autonomously opening a cloud browser, browsing the web like a human, and continuing to process tasks in the background even after the user closes the application. To alleviate privacy concerns, Muse operates within a dedicated isolated cloud virtual machine (VM), equipped with an independent browser for securely storing user data and login credentials.