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The Nasdaq-listed Bitcoin mining company TeraWulf announced that it has completed the previously announced public offering of 54,510,000 shares of common stock, with an offering price of $19 per share, raising a total of $1,035,690,000. Morgan Stanley acted as the lead underwriter for this offering, while Bank of America Securities, Citigroup, TD Cowen, and Wells Fargo Securities served as co-managers.Citizens Capital Markets and Santander Bank acted as sub-underwriters, and Cantor Fitzgerald served as the equity capital markets advisor. TeraWulf plans to use the net proceeds from this offering to pay for a portion of the construction costs of its planned data center campus in Horse Cave, Kentucky, including the full repayment of outstanding amounts under its transitional credit facility, as well as for future site acquisitions and general corporate purposes.

According to Fortune, U.S. Senator Richard Blumenthal (Democrat, Connecticut) has sent a letter to the Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN) requesting clarification on the status of two compliance supervisors at the world's largest cryptocurrency exchange, Binance.Previous reports indicated that internal investigators at Binance had warned executives that over $1 billion in funds were flowing to wallets associated with Iran, but were subsequently fired. Binance denies that the firings were related to the investigation results and claims that its compliance system is strict. Notably, the DOJ had previously terminated independent oversight requirements for Glencore and Boeing, raising concerns about whether the oversight mechanism has also been suspended for Binance. In 2023, Binance was fined $4.3 billion for deficiencies in anti-money laundering and sanctions compliance, and the two supervisors were part of the agreement at that time.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is 0.0004%. Among the current mainstream exchanges, the rate on Binance is 0.0007%, OKX is 0.0044%, Bybit is -0.0041%, and Gate is 0.0029%.

According to Coinglass data, the current average funding rate for BTC across the network over 8 hours is -0.0009%. Among the current mainstream exchanges, the rate on Binance is 0.0027%, OKX is -0.0004%, Bybit is -0.0017%, and Gate is -0.0024%.

According to CoinDesk, Bitcoin is currently priced at $74,700, down 0.4% in the last 24 hours. News of ceasefire negotiations between the U.S. and Iran has boosted risk sentiment, with the S&P 500 index reaching a record high on Thursday. Trump stated that the prospects for a permanent ceasefire between the U.S. and Iran "look very optimistic," claiming that Iran has agreed to abandon its nuclear ambitions, hand over nuclear materials, and reopen the Strait of Hormuz, although Iran has not yet confirmed these concessions.Meanwhile, the market is closely monitoring the structural signals behind Bitcoin's price movements. ZeroStack CEO Daniel Reis-Faria stated, "The funding rate is so negative that it indicates the market is heavily short. If Bitcoin continues to rise in this context, a large number of short positions may be forced to close, further accelerating the price upward." He predicts that if the short base is forced to cover, Bitcoin could reach $125,000 within the next 30 to 60 days.On-chain analyst CryptoVizArt provided another perspective: Bitcoin's "True Market Mean" (TMM) shows that the average cost basis of active holders is currently above the market price, indicating that holders are overall in a state of unrealized losses. Since 2016, consistently falling below this mean has often coincided with Bitcoin's most severe downturns, including the bear market from 2018 to 2019 (with a maximum drop of 57%, lasting 282 days) and the decline following the Luna and FTX collapses from 2022 to 2023 (with a maximum drop of 56%, lasting 339 days).Analysts point out that these two judgments are not mutually exclusive—the short squeeze triggered by the extremely negative funding rate and the structural pressure of overall unrealized losses among active holders can coexist. The former may trigger a significant rise, but ultimately could be absorbed by selling from the latter. The future market direction may depend on whether the U.S.-Iran ceasefire can be sustained after its expiration next week.

According to Cointelegraph, the Ethereum Foundation stated that its funded Ketman project identified 100 North Korean IT personnel lurking in Web3 organizations within six months and issued alerts to about 53 projects, indicating that they may have employed related personnel.The project focuses on the issue of "fake developers" in the cryptocurrency industry and is part of the ETH Rangers public safety funding program. Ketman also developed an open-source detection tool for identifying suspicious GitHub activity and collaborated with the Security Alliance to create an industry identification framework for recognizing North Korean IT personnel.

According to Bloomberg, Flow Capital Partners plans to launch its $150 million private credit fund on a blockchain platform based in Singapore by the end of this month, becoming one of the first asset management firms in Asia to leverage the growing liquidity of stablecoins.The alternative asset management company headquartered in Hong Kong will provide its master fund through DigiFT Tech Pte. and plans to raise an additional $30 million through tokenized shares by the end of this year. The company's Chief Investment Officer Jacky Tian stated that the goal is to expand the fund, which was launched in June, to $250 million by the end of the year.

The cryptocurrency fintech company Superstate has launched a new fund operating system, FundOS. FundOS opens the underlying infrastructure used by Superstate's own funds to asset management companies, helping traditional private equity funds, public funds, and ETFs achieve on-chain deployment.Managers do not need to change the existing fund operation methods and can independently choose the supported chains, DeFi protocols, and whether to enable stablecoin subscriptions/redemptions. Currently, FundOS has provided technical support for USTB and USCC, with a total managed scale exceeding 1 billion dollars, and has been adopted by Invesco US.

According to Cointelegraph, stablecoin issuer Circle is facing a class-action lawsuit in the U.S. District Court for the District of Massachusetts for failing to freeze the stolen funds from the Drift Protocol during the attack incident.The plaintiffs claim that the attacker transferred approximately $230 million USDC from Solana to Ethereum within hours using Circle's Cross-Chain Transfer Protocol (CCTP), and Circle did not intervene. The lawsuit accuses Circle of complicity and incitement to misappropriation and negligence. Crypto analytics firm Elliptic previously suspected that the attack may be related to North Korean-backed hackers, and the related funds were subsequently exchanged for ETH and transferred via Tornado Cash.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is 0.0005%. Among the current mainstream exchanges, the rate on Binance is 0.0008%, OKX is -0.0002%, Bybit is 0.0051%, and Gate is -0.0014%.

According to Coinglass data, the current average funding rate for BTC across the network over 8 hours is -0.0015%. Among the current mainstream exchanges, the rate on Binance is 0.0033%, OKX is 0.0009%, Bybit is 0.0019%, and Gate is -0.0028%.

According to Coinglass data, the current 8-hour average funding rate for ETH across the network is -0.0017%. Among the current mainstream exchanges, the funding rate for Binance is -0.0037%, OKX is -0.0042%, Bybit is -0.0066%, and Gate is 0.002%.

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is -0.0023%. Among the current mainstream exchanges, the rate on Binance is -0.0022%, OKX is -0.0013%, Bybit is -0.0081%, and Gate is -0.003%.

Drift announced on its official website that the Drift Protocol has received support from Tether and other partners, with Tether planning to invest $127.5 million and other partners planning to invest $20 million to jointly support user recovery.The support plan includes a $100 million revenue-linked credit line, ecosystem grants, and loans provided to market makers. Drift will establish a dedicated user recovery pool aimed at gradually addressing the $295 million in unpaid user losses as trading revenue grows. Additionally, Drift will issue independent recovery tokens to affected users, which represent a claim on the recovery pool and are transferable. Drift is currently working on the protocol restart, having hired Ottersec and Asymmetric for auditing, and will migrate the settlement layer from USDC to USDT. The previous attack resulted in approximately $295 million worth of assets being stolen, while the insurance fund assets were unaffected.

According to Hyperbridge's official disclosure, the loss from the Token Gateway vulnerability incident has been revised from an initial estimate of $237,000 to approximately $2.5 million, with the increase mainly coming from losses in incentive pools on Ethereum, Base, BNB Chain, and Arbitrum.The attacker extracted about 245 ETH from the relevant contracts and then bypassed the MMR proof verification mechanism by forging cross-chain messages, minting 1 billion bridged DOT and selling them into a thinly traded market. Currently, some of the stolen funds have been traced on-chain to Binance, and Hyperbridge is collaborating with Binance's compliance team and law enforcement agencies for an investigation.Native DOT of Polkadot and products like Intent Gateway are unaffected, while the Token Gateway and the bridged DOT contracts on the four affected EVM chains remain suspended. The MMR verification logic patch is undergoing external audit, and the bridging functionality will be restored after the audit is completed.

CoinDesk analyst James Van Straten stated that the Bitcoin funding rate has fallen to its lowest level since 2023, and historical patterns show that such signals often coincide with market bottoms. According to Glassnode data, the seven-day moving average of the funding rate has dropped to about -0.005%.The funding rate is the fee that long and short positions pay each other periodically in perpetual contracts to keep the contract price aligned with the spot market. When the rate is positive, longs pay shorts, reflecting bullish market sentiment; when the rate is negative, shorts pay longs, indicating a bearish market. Despite the funding rate being persistently negative from March to April this year, Bitcoin still oscillated upward from the $60,000 to $65,000 range to about $75,000. Historically, a deeply negative funding rate often coincides with Bitcoin's phase bottoms: during the market crash triggered by the COVID-19 pandemic in March 2020, Bitcoin fell to about $3,000; it dropped to $30,000 during China's mining ban announcement in 2021; it hit a low of about $15,000 during the FTX collapse in November 2022; and it briefly fell below $20,000 during the Silicon Valley Bank crisis in 2023. During the yen arbitrage trade closure in August 2024 and the "Liberation Day" sell-off in April 2025, negative funding rates also appeared alongside phase lows. The continued negative funding rate indicates that even if the price trend is positive, short positions remain at a high level. This divergence may suggest that the market is climbing within a "wall of worry," and a large number of short positions could become fuel for further price increases.

Crypto fund manager McCann is under investigation in Zanzibar, Tanzania, after his fiancée was suspected to have died by suicide. McCann's passport has been confiscated by local police, and he has been asked to remain in the area while awaiting the results of the forensic autopsy.Recently, 31-year-old American influencer Ashlee Jenae died at a luxury resort in Tanzania. Her fiancé Joe McCann is the founder of the crypto hedge fund Asymmetric. McCann claims his wife hanged herself, but Jenae's family and friends strongly deny this and have issued an open letter stating that she would never commit suicide, demanding a thorough investigation by the authorities. Public information shows that Joe McCann's fund suffered a 78% loss in July 2025 and was forced to close. The timeline from the fund's collapse to the sudden death after their engagement has led the crypto community to question whether it is merely a coincidence.

According to Cruncbase, financial compliance startup Spektr announced the completion of a $20 million Series A funding round, led by New Enterprise Associates, with participation from Northzone, Seedcamp, and PSV Tech, bringing the total funding to $26 million to date.The company primarily provides AI Agent-based compliance services to cryptocurrency wallet service providers, including Phantom, as well as traditional financial companies, including risk assessment and sanctions list monitoring.

Financial compliance startup Spektr announced the completion of a $20,000,000 Series A financing round, led by New Enterprise Associates, with participation from Northzone, Seedcamp, and PSV Tech, bringing the total funding to $26,000,000 to date.The company primarily provides AI Agent-based compliance services to cryptocurrency wallet service providers, including Phantom, as well as traditional financial companies, including risk assessment and sanctions list monitoring.