exit

According to a report by the Financial Associated Press, Microsoft has withdrawn from a large artificial intelligence data center project developed by the UK data center company Nscale in Essex, with reports indicating that the withdrawal is related to concerns over power supply. Officials from the UK National Grid had informed Nscale that the power supply for the data center is not expected to be in place until the 2030s. Nscale is exploring whether it can generate power on-site and whether it can expedite the grid connection process.The project was previously referred to by the UK government as the largest data center in the UK, originally scheduled to open next year. As of the report, the site still appears to be just a scaffolding yard. Microsoft had originally planned to fund the construction of a supercomputer, but the collaboration has now been terminated. Following the termination of the related computing power transaction, Nscale lost its only publicly announced client for the data center in Essex. Nscale stated that its relationship with Microsoft remains strong and long-lasting, and the two parties will continue to collaborate on other overseas projects, with Microsoft still participating in another project in Norway.The Starmer government highlighted this project when announcing the UK's 2025 artificial intelligence strategy, calling it the largest autonomous artificial intelligence data center in the UK. Nscale has received support from several tech companies, including Nvidia, and plans to go public in the US this year, with a valuation potentially reaching $35 billion.

Bitcoin News posted on the X platform that France is considering imposing a 31.4% capital gains tax on certain Bitcoin-to-stablecoin transactions, levying an exit tax on crypto assets valued over 800,000 euros, and requiring the declaration of self-custodied wallet assets valued at no less than 100,000 euros.Related proposals also include allowing the carryover of crypto asset losses for 10 years, but none of these have yet become law; the French National Assembly has rejected the revenue portion of the 2027 budget, and the related measures still need to be resubmitted for review.

Mona El Isa, co-founder of Enzyme, announced that after ten years in the industry, she has decided to exit the sector and close the on-chain asset management company Avantgarde. She stated that Avantgarde was established during the bear market in 2019, served as the core development team for Enzyme, and helped Enzyme achieve self-sustainability after several version iterations. Enzyme has now grown to become one of the fastest-growing fund tokenization platforms.Mona El Isa also mentioned that Avantgarde subsequently provided curation and fund management services for Compound, Gitcoin, SuperRare, NEAR, Decentraland, The Graph, and others, handling transactions worth hundreds of millions and TVL, while ensuring the safety of client assets during a year of severe DeFi security challenges. She plans to take a break before deciding on her next steps and welcomes staying in touch, and she can provide recruitment referrals for team members.

According to Euronews, the Finance Committee of the French National Assembly voted last week to pass several amendments to cryptocurrency taxation. According to the proposal, residents holding over 800,000 euros in cryptocurrency assets who move abroad will be subject to an exit tax starting in 2027, covering foreign platform tokens and self-custody wallets, with the tax rate yet to be specified; those migrating within the European Union can apply for a tax deferral, and assets held for 2 to 5 years may be exempt from tax.Additionally, self-custody wallets valued at over 100,000 euros at the end of the year must be declared, or they will face a fine of up to 10,000 euros; the exchange of cryptocurrency assets for stablecoins will also fall under the current unified tax rate of 31.4%.It is worth noting that the committee rejected the budget revenue portion with a vote of 31 to 3, so the aforementioned amendments must be resubmitted this Tuesday and will be voted on again on October 20, with a full case vote scheduled for November 17 before being handed over to the Senate for review.

According to Decrypt, the French National Assembly's Finance Committee passed two cryptocurrency tax amendments this week: starting from January 1, 2027, exchanges of stablecoins regulated by MiCA will be considered taxable sales; and a departure tax will be imposed on tax households relocating overseas with a total value of cryptocurrency assets exceeding 800,000 euros.The committee rejected the budget revenue portion with a vote of 31 to 3, and the full National Assembly will review the original text from the government. The aforementioned amendments will not be automatically included; supporters must reintroduce them during the debate starting on October 13, with a formal vote scheduled for October 20.The related measures have not yet become law. The stablecoin amendment was proposed by left-wing GDR party member Nicolas Sansu and 16 co-signers, applicable to electronic money tokens as defined by MiCA. The amendment does not set a new tax rate but aims to include the related revenue under France's existing unified tax system of 31.4%.The committee also passed an amendment proposed by Daniel Labaronne, allowing investors to carry forward cryptocurrency asset losses for 10 years to offset future gains. The proposed departure tax applies to taxpayers who have been French tax residents for at least 6 of the past 10 years and whose cryptocurrency assets, including custodial assets, have a total value exceeding 800,000 euros.

Andrey Lazutkin, co-founder of Tangem, posted on X that the recent Ledger security incident once again confirms the security engineering principle of "complexity expands the attack surface." He pointed out that every additional component, software layer, and user interaction, such as screens, buttons, batteries, and firmware, introduces new potential points of failure and vulnerabilities, increasing the risks that need to be identified and mitigated.Based on this, Lazutkin defended the minimalist card design adopted by Tangem—this solution is built solely around the secure chip and antenna—and stated that this incident reinforced his judgment about the correctness of this design philosophy.

According to on-chain analyst Ai Yi's monitoring, the Binance contract real smart money account "Single Wife" holds 18.29 million Lobster long positions, with an opening price of $0.1277. When Lobster reached its historical high of $0.3143 on September 21, the account's peak floating profit once reached $2.19 million, with a position value of $5.75 million.The price of Lobster subsequently fell, and the account closed its positions on October 2 at an average price of $0.09374, ultimately incurring a loss of $907,000, with all previous floating profits completely wiped out.

The Ethereum staking withdrawal queue has retreated from last week's peak. After MetaMask began withdrawing validators, the withdrawal queue once climbed to about 851,000 ETH, and is currently down to about 767,000 ETH. Previously, on September 29, the queue was only about 166,000 ETH, growing more than five times in just a few days, reaching about 2% of the total staked ETH of approximately 43.6 million.On September 30, MetaMask disclosed a security incident affecting some of its infrastructure and took the affected validators offline as a precaution. Its update on October 1 stated that the investigation found no signs of impact on wallets or customer funds. In addition to its wallet services, MetaMask also operates validators for the staking service provider Lido. Ethereum security researcher Kaden estimates that this precautionary withdrawal involves about 17,000 validators and approximately 523,000 ETH, although MetaMask has not confirmed this data.Lido expects that as the affected validators withdraw and their balances are extracted, these ETH will gradually be restaked, a process that may take about 45 days. During the downtime, the affected validators will miss out on rewards, and Lido stated that stETH holders do not need to take any action. Meanwhile, the demand for entering the staking queue has cooled, with about 1.5 million ETH waiting to enter, and the estimated waiting time is about 25 days.

The cryptocurrency exchange BitMart has released a preliminary intention plan, stating that it will review its assets and liabilities and formulate response arrangements starting from August 2026. The plan was formed during the initial due diligence conducted by Alvarez & Marsal and White & Case; users can choose front-end allocation or potentially higher recoveries from sources that may be recovered and liquidated later. The management team stated that they will continue to cooperate.BitMart stated that the total market value of the cryptocurrency market decreased in 2026, with volume manipulation groups profiting from commission and zero slippage policies in contract business, while fee-based services turned into losses; a hacker attack in December 2021 resulted in a balance sheet gap of approximately $319.5 million based on the value as of December 4, 2021. Starting from May 2026, social media attacks triggered panic withdrawals, and related personnel faced risks of personal information leakage. After evaluating a $10 million liquidity proposal from an investor, the management deemed it insufficient to cover operational pressures and gaps.The plan proposes to convert outstanding account balances into dollars based on the weighted average price from July 26, 2026, to the time of recording, to be verified by an independent party appointed by the court. Users can receive a proportional front-end allocation of fiat currency, USDC, PYUSD, USDT, and liquid assets such as BTC, ETH, SOL, or participate in the recovery of stolen assets by exchanging for recovery tokens at a rate of 1 unit per $1, or exchange for continuation tokens that can be traded on decentralized exchanges, corresponding to investment rights, non-standard asset liquidation, and a portion of distributable profits after business restart. In the next three to four weeks, feedback will be solicited from the top 50 users, and a report on the expected recovery ratios for each option will be compiled.

The liquidity staking protocol Lido announced that MetaMask Staking (formerly Consensys Staking) has taken precautionary measures to protect customer assets related to its Ethereum validators after investigating an infrastructure breach incident. The related measures include withdrawing its Ethereum validators from the Lido protocol, which may result in some loss of rewards. If the validators go offline recently to reduce potential network slashing risks, it may also incur downtime penalties.Lido stated that the related validators have begun to withdraw, with the last batch expected to complete the withdrawal by October 7, 2026, but full withdrawals may not be completed by then. stETH holders do not need to take any action. The ETH withdrawn from the validators operated by MetaMask Staking is expected to gradually return to the protocol during the cycle of the validators completing the withdrawal, withdrawing, and re-entering, with the estimated maximum duration of this process being about 45 days due to extended queuing times.Lido reminds that staking operations are non-custodial, and MetaMask does not manage withdrawal keys on behalf of customers. The diversified node operators of the Lido protocol and other security mechanisms, including a temporary reserve of over 6,750 stETH, are designed to control and mitigate disruptions to the normal operation of the protocol. A comprehensive investigation is ongoing, and further updates will be announced separately.

According to The Wall Street Journal, the U.S. stock-listed Bitcoin mining company PowerCompute (Nasdaq: PWCM) has fully repaid and terminated its Bitcoin collateralized credit line with Arch Lending.The credit line was settled on the reset date of September 24, with Arch selling approximately 267.3 of the 307 collateralized BTC to repay about $22.45 million in principal, interest, and fees, with approximately 39.6 BTC returned to the company.PowerCompute stated that the settlement was carried out as planned and was not due to additional margin calls or forced liquidations.After repayment, the company's secured debt decreased from approximately $19.4 million at the end of June to about $1.25 million, holding approximately 62 BTC as of September 25. The company announced it will exit the leveraged Bitcoin treasury strategy, with Bitcoin being used as operating capital for equipment procurement and expansion.

CryptoQuant analyst Zizcrypto stated that the adjusted long-term holder (LTH) MVRV metric has recovered from a shallow pressure zone and is currently back in a profitable state. Data shows that the adjusted MVRV for the long-term holder group with a holding period of 6 months to 10 years continued to compress and remained above 1 in April this year. An MVRV of 1 represents the overall breakeven line for this group, with values above 1 indicating unrealized profits and below 1 indicating unrealized losses.Between June and August, this metric fell below 1 five times, reaching a low of approximately 0.94 on June 30, when the BTC price was around $58,500, while the group's realized price benchmark was about $62,000, which is about 6% below the breakeven line. However, Zizcrypto noted that the duration and magnitude of this pressure were limited, with the metric remaining close to 1 and not entering the deep loss phase for long-term holders seen in 2019 and during 2022-2023. As of September 27, the adjusted LTH MVRV has recovered to about 1.35, with the BTC price around $84,500, while the long-term holders' realized price is about $62,700, indicating that the spot price is approximately 35% higher than this cost basis. The long-term holder group with a holding period of 6 months to 10 years has emerged from a shallow pressure phase below 1 and re-entered an overall profitable state, resembling a recovery after a healthy adjustment rather than a deep or prolonged loss cycle.

According to BBX data, last weekend, publicly listed companies in the U.S. and European stock markets disclosed the latest developments in digital asset allocation and treasury strategy adjustments. The core information is as follows:Morgan Stanley's ETF increased its holdings by nearly 43 Bitcoin, with a total holding value of $779 million: On-chain tracking data shows that Wall Street investment banking giant Morgan Stanley withdrew 42.979 Bitcoin from its subsidiary's spot Bitcoin exchange-traded fund MSBT on Saturday, extracting from the Coinbase Prime hot wallet address, valued at approximately $3.6 million based on the price at the time of withdrawal. Following this increase, Morgan Stanley's total Bitcoin holdings have now reached 9,261 BTC, with a total holding value of about $779 million.French semiconductor listed company Sequans liquidated 314 BTC, completely exiting its Bitcoin reserve strategy: French well-known semiconductor and IoT chip design listed company Sequans Communications disclosed that it has fully sold the 314 Bitcoin held on its balance sheet. This liquidation marks the company's official termination and complete exit from the previously established Bitcoin corporate treasury reserve strategy, and in the future, it will refocus its funds and liquidity on its core semiconductor business.

French semiconductor company Sequans Communications has sold its last 314 bitcoins, completing its exit from the bitcoin reserve strategy, having previously held over 3,200 BTC. Sequans stated that this exit was conducted after the redemption of convertible bonds completed in May, allowing it to refocus on its core cellular IoT and software-defined radio business.Sequans CEO Georges Karam stated that the company used the proceeds from the bitcoin sales to pay off convertible bonds and strengthen its balance sheet. Currently, Sequans holds no cryptocurrency and has no outstanding debts other than government-funded R&D obligations. Sequans launched its bitcoin reserve strategy in June 2025, announcing a $384 million equity security and convertible secured bond issuance, with Karam at the time calling bitcoin a primary asset and an attractive long-term investment.The company began to reduce its holdings less than six months later, selling 970 BTC in November to redeem half of the convertible bonds. By May 2026, Sequans indicated that it would no longer pursue the reserve strategy and would gradually liquidate the remaining bitcoins. During the 2026 crypto bear market, an increasing number of digital asset reserve companies abandoned or scaled back their accumulation strategies. VanEck's head of digital asset research, Matthew Sigel, noted at the end of July that at least nine companies had completely liquidated or abandoned their bitcoin and cryptocurrency reserve strategies in 2026.

DeFi researcher Ignas stated that the popularity of Robinhood's ecosystem tokenized stocks and Meme coins is waning, with the TVL of Robinhood Chain's tokenized stocks remaining flat for two consecutive weeks, and the number of stocks destroyed has exceeded the issuance amount.Ignas further indicated that if trading volume continues to slow down, a decline in revenue may lead to weakened holding willingness, increased selling pressure, and cause LPs to exit, resulting in further liquidity contraction. He revealed that he has exited the Meme coin LP position due to a significant drop in yields and believes the market needs new catalysts to drive the trend again. He also noted that tokenized stocks on Solana seem to still be rising and speculated that the trend of funds shifting from Robinhood to Solana may be more sustainable.

Liquid Capital founder Jack Yi posted on the X platform, stating that once again, in line with expectations, after the Federal Reserve's interest rate hike, Bitcoin briefly dropped below $76,000 but continued to rise after fluctuations. He repeatedly reminded that during a bull market trend, one should not short, and various factors will influence the process; one must not easily exit until the end of the bull market.Next, in line with the bull market, asset explosions, especially trading infrastructure and on-chain finance, are essential. During this cycle, try not to chase narrative projects and follower projects.

On-chain detective ZachXBT posted that the wallet address associated with 7zarc has received 4,870 ETH (approximately 15 million USD), with the funds originating from addresses related to the Raidparty project's approximately 70 million USD "exit scam." Subsequently, this portion of ETH was transferred to recharge addresses of several centralized exchanges.ZachXBT pointed out that 7zarc disappeared from public view in 2022 and only became active again in September 2026. Based on this, he publicly questioned the need for an explanation regarding the flow of the related funds.

NVIDIA announced that the Perplexity local proxy platform has now been launched on personal computers equipped with Windows RTX graphics cards.