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Trader Bonk Guy posted a review stating that on October 10, 2025, due to systemic failures at several large centralized trading platforms, he experienced the largest single-day loss of his career, amounting to eight figures in dollars within minutes. In the following weeks to months, he lost millions of dollars due to overtrading.Bonk Guy indicated that a better choice at that time would have been to pause trading for several months or at least half a year and stay away from trading terminals. The eagerness to recover losses and prove trading ability drove him to keep entering the market. He believes that trading ability, experience, and systems are not sufficient to ensure consistent outperformance of the market; results also depend on market conditions, timing, and luck. Advantageous strategies vary in different environments, and sometimes the best trade is to not trade.He cited a cyclical framework stating that the average crypto bull market lasts about 1,060 days, accounting for approximately 74% of the cycle, while bear markets last about 380 days, accounting for about 26%; if the bull market is defined as when Bitcoin's price is above the 200-day moving average and the upward momentum is strong, the opportunity window may shorten to about 237 days, accounting for about 16% of the cycle. These numbers depend on the definition of the phases. He also mentioned that compared to forcing trades in unfavorable conditions, it is more important to protect capital, maintain judgment, and wait for the next significant opportunity. When lacking an advantage, one can temporarily stay out of the market or participate only with a small portion of funds that can withstand losses.

Animoca Brands and Nuva Labs have launched the real-world asset market NUVA with the HOME token, providing qualified non-U.S. investors exposure to U.S. home equity lines of credit (HELOC) with a minimum participation of 1 USDC. This ERC-20 token aims for an annualized yield of 7%, resetting monthly, with interest income and loan performance reflected in the net asset value of the fund pool, which in turn determines the token price. The product has no lock-up period and features a first-loss tranche that accounts for approximately 5% of the fund pool's value, designed to absorb losses from defaults or forced sales before they affect HOME holders.The underlying assets of HOME are the HELOC pools initiated by Figure Technology Solutions. According to Federal Reserve economic data, the size of U.S. HELOCs rose to $460 billion in the second quarter. Nuva Labs CEO Anthony Moro stated that traditional securitization primarily targets institutional investors, making it difficult for individual investors to access such structures. HOME does not attempt to create residential credit demand from scratch but presents an asset class with existing institutional demand in a more accessible on-chain structure. HOME holders do not directly own the underlying loans but hold tokens corresponding to the exposure of the fund pool.HOME is only available to qualified non-U.S. users, with the UK, Hong Kong, China, the British Virgin Islands, and sanctioned jurisdictions also excluded. NUVA will enforce these restrictions through wallet screening and IP address blocking.

According to The Information, NVIDIA (NVDA.O) is in discussions to reinvest $1 billion into the humanoid robotics company Figure.

In September, the ADP employment number in the United States was 90,000, higher than the expected 70,000, and the previous value was 38,000.

The lending agreement indicates that Spark has allocated $210 million in loans to institutions collateralized by Bitcoin, with the related Bitcoin held by the digital asset custodian Anchorage Digital. Institutions can borrow USDC while the pledged assets remain with a qualified custodian.Spark provides the loan funds, and Anchorage Digital manages the collateral through the Atlas platform. Atlas is its automated network that offers round-the-clock margin monitoring, settlement, and third-party services within a regulated custody framework.

HyperliquidNews posted on platform X that in the next network upgrade, HIP-3 deployers will be able to configure funding rate limits.

Figure co-founder and Executive Chairman Mike Cagney tweeted that DeFi is more suitable for asset-backed finance (ABF), which can avoid double pledging, directly improve collateral, self-custody or autonomous venues, and liquidity collateral. He believes that Figure has brought ABF on-chain, but overall it is still in the early stages, with approximately $60 trillion of the market yet to migrate on a large scale.He also listed five reasons why traditional finance has been slow to enter on-chain applications: poor interface experience, which has allowed applications like Robinhood and SoFi to win on the retail side; the long-term difficulty of achieving qualified custody and recoverable self-custody; hedge funds and others requiring multiple wallets, multiple users, tiered permissions, and complete audits to be exported to fund administration and accounting; regulation is being streamlined, and the precedent for on-chain native securities is becoming clearer, with hopes for the CLARITY Act and guidelines; and KYC issues are easier to resolve than the outside world thinks, as on-chain programmatic screening and wallet-level permissions can be implemented.

In August, the ADP employment number in the United States was 38,000, the smallest increase since January, lower than the market expectation of 48,000, and the previous value was 44,000.

Blockchain Capital Markets Figure (NASDAQ: FIGR) announced that it has completed the acquisition of the previously announced AI real estate loan platform Kiavi. Figure acquired Kiavi's technology and operating platform along with some other assets. Kiavi's brand, platform, and technology will be integrated into Figure's network of over 480 ecosystem partners and will expand the coverage of relevant loan technologies through its blockchain-native marketplace Figure Connect.Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer. Previously, Figure planned to acquire Kiavi for a total price of $717 million and intended to issue a total of $600 million in preferred notes through a private placement for the acquisition of Kiavi.

Figure Lending LLC, a cryptocurrency lending institution, offers cryptocurrency-backed loans where borrowers can use Bitcoin, Ethereum, or Solana as collateral to obtain cash up to 75% of the collateral's value while retaining ownership of the tokens. Borrowing typically does not constitute a sale and generally does not trigger a capital gains event.Figure Lending LLC states that borrowers should compare the maximum loan-to-value ratio, fixed or variable interest rates, regulatory licensing, and liquidation terms. The institution offers fixed rates with a loan term of 12 months, a maximum annual percentage rate of 12.62%, and supports same-day funding without requiring a credit score, with approval based on the collateral. Figure provides an optional liquidation protection feature available in some states, which can delay liquidation during the loan term due to price declines; however, liquidation may still occur if the loan is overdue. This feature does not apply to situations of non-payment, default, or violation of loan terms, and a decline in cryptocurrency asset prices may still trigger margin calls.

According to Hongxing News, Hu Xiaowei, a core figure of the Prince Group, left Japan on July 29 and was deported to the United States. The Federal Bureau of Investigation (FBI) has contacted him, and subsequent investigations will be conducted in the United States.The report states that Hu Xiaowei previously used a Cypriot passport in Japan and operated under the name "Hu Shi." In June of this year, he was arrested by Japanese police for allegedly violating Japan's Immigration Control and Refugee Recognition Act. On July 24, the Japanese prosecution filed a summary indictment against him and imposed a fine equivalent to approximately 100,000 yuan.Public information shows that Hu Xiaowei has also operated under names such as Hu Yanming and Hu Shi. The report indicates that relevant agencies believe these identities belong to the same person.

According to Sandmark, documents and recordings obtained show that Pump.fun laid off employees two months before the unlocking of employee tokens, causing at least one former employee to miss out on a PUMP token allocation valued in the seven figures at current prices.The layoffs occurred in early April, while the affected employees were supposed to start receiving token unlocks two months later (in June). Employees had signed a token agreement in June 2025, with a quarter of the allocation set to unlock a year later. Co-founder Noah Tweedale stated in an internal meeting recording that the reason for the layoffs was the company's "rapid expansion."Former employees reported a second round of layoffs in mid-July, with the company having laid off over 40 people in the past two months. One employee claimed they were laid off the day before the token unlock, but Sandmark could not independently verify these claims.Pump.fun operates in the UK under the name Baton Corporation Ltd, although it has blocked UK users since December 2024 (following a warning from the UK FCA that it may be providing financial services without a license) and is still on the regulatory warning list. In 2024, the company experienced an employee embezzlement incident involving the misappropriation of approximately $2 million, with the involved party sentenced to six years in prison. According to Companies House data, the company's latest annual report is overdue.

According to tracking data from the Web3 asset data platform RootData, in the past 7 days, the crypto media platform BSC News has been the project that X (Twitter) top figures have unfollowed the most. The new influential figures on X who have unfollowed this project include well-known cryptocurrency trader Ansem (@blknoiz06) and cryptocurrency trader Ash Crypto (@AshCrypto). In addition, the project that X top figures have unfollowed the most also includes Ostium.

According to Cointelegraph, data from RWA.xyz shows that in the past month, the transfer volume of tokenized stocks increased by 105% to $8.41 billion, and the distributed value grew by 43% to $2.16 billion, with the number of holders increasing by 17% to over 409,000.The growth was mainly driven by leading platforms. Among them, Figure's distributed asset value increased by 935% in the past 30 days, Securitize grew by 332%, and xStocks increased by about 62%. In terms of distributed value, Ondo ranked first with approximately $846 million, followed by Stocks, Securitize, and Figure at approximately $708 million, $306 million, and $239 million, respectively.The report stated that tokenized stocks outperformed other RWA sub-segments. During the same period, the distributed asset value of tokenized U.S. Treasuries, the largest asset class, remained flat, while the overall tokenized RWA market grew by only about 4% to $33.5 billion. Over the past year, the tokenized stock market has increased from approximately $37.8 million to $2.16 billion, a growth of about 471%.

Figure released preliminary operating data for June and the second quarter, both exceeding the previous performance guidance upper limit. The data shows that Figure's market transaction volume for the second quarter was $4.26 billion, a year-on-year increase of 132%; among which, the transaction volume for June alone was $1.52 billion, a month-on-month increase of 8% and a year-on-year increase of 155%.Figure also announced a transformation to adopt an almost real-time operational transparency reporting model and launched a dashboard that is updated weekly to provide more direct visibility into market size.

According to Globenewswire, the Nasdaq-listed blockchain financial platform Figure Technology Solutions announced that it will raise $600 million through the issuance of senior secured notes, with the specific issuance depending on market conditions. The proceeds from this financing will primarily be used for the cash consideration to acquire Kiavi, as well as for general corporate purposes and related issuance costs.The note issuance by Figure will be jointly guaranteed by some subsidiaries and will be privately placed to qualified institutional investors, without public registration, and there remains uncertainty regarding the final completion.In addition, Figure will acquire the AI real estate lending platform Kiavi for $717 million, and Figure expects Kiavi to add over $7 billion in transaction volume annually. After the transaction is completed, Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer.

According to Jinshi, the ADP employment number for the U.S. in June is 98,000, with an expectation of 118,000.

Figure Technology Solutions announced that it will acquire the AI real estate loan platform Kiavi for a total price of $717 million; at the same time, Figure's joint venture with Sixth Street will acquire the loan assets on Kiavi's balance sheet.Figure stated that Kiavi is a leading platform in the U.S. residential transition loan (RTL) sector, and this transaction is expected to add over $7 billion in first mortgage scale annually to the Figure Connect market, bringing over $100 million in asset flow monthly to its on-chain storage market, Democratized Prime.

In response to Radha Stirling's claims about multiple Dubai crypto figures being abused in UAE detention centers, on-chain investigator ZachXBT stated that the individuals referred to as "crypto entrepreneurs" are actually threat actors suspected of involvement in high-impact social engineering crypto scams and data extortion. Law enforcement has seized $18.9 million in stolen funds.