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Project Overview
100x is a decentralized exchange (DEX) built on BLAST, designed to provide a fast perpetual and spot trading experience with support for cross-margin self-custody accounts.
100x leverage will not be allowed, CFTC Chair: Only federally regulated crypto trading platforms can offer leveraged trading
CFTC Chairman Michael Selig said yesterday that under the proposed rules, only federally regulated cryptocurrency trading platforms will be able to offer leveraged trading. States can only provide money transmission services, and the 100x leverage commonly seen outside the United States has never been allowed in the U.S., nor will it be this time. Previously, the U.S. Commodity Futures Trading Commission proposed two new rules aimed at establishing a U.S. cryptocurrency regulatory framework based on its authority to oversee leveraged and margin trading.
Connecticut Attorney General Issues Crypto Alert as Investor Loses $200,000
Odaily News: Connecticut Attorney General William Tong and State Banking Commissioner Jorge Perez issued a consumer alert on September 3 stating that a resident deposited $200,000 into an unregulated DeFi crypto trading platform following suspected deception, and the funds are currently unrecoverable.The alert lists seven offshore DeFi platforms—GMX, Gains Network, dYdX, Aevo, Drift Protocol, Vertex Protocol, and Hyperliquid—but does not specify that the resident used any of them.Connecticut officials noted that some platforms offer leverage of 50x, 100x, and up to 250x; the related perpetual contracts also involve risks associated with liquidation, funding rates, smart contracts, and oracles.The alert also covers perpetual contracts linked to Apple, Tesla, Nvidia, and SpaceX, stating that these correspond to synthetic prices rather than actual stocks. Officials remind residents to verify the registration status of crypto services, retain transaction and communication records, and promptly report suspected scams. (Bitcoin.com News)
BitMEX Faces Class Action Lawsuit, Users Claim 622.66 BTC in Damages
Odaily Odaily News Crypto derivatives platform BitMEX is facing a proposed class action lawsuit, with BKX Services Inc. and David Namdar filing a complaint in the U.S. District Court for the Southern District of New York. The plaintiffs allege they incurred combined losses of 622.66 BTC from forced liquidations on BitMEX, with BKX claiming losses of at least 305.81 BTC and Namdar claiming losses exceeding 316.85 BTC. The complaint alleges that BitMEX's internal trading desk had access to customers' private information and could continue trading during periods when the server was frozen and regular users were unable to access or close positions. The plaintiffs further claim that BitMEX allowed customers to use leverage of up to 100x and would automatically liquidate positions when the collateral value was still twice the loss amount, with the remaining BTC entering the platform's insurance fund. The plaintiffs are seeking the return of the allegedly withheld Bitcoin, as well as compensatory and punitive damages. They intend to represent U.S. customers who purchased BTC swap products since July 23, 2018. On the same day the lawsuit was filed, BitMEX announced that following a strategic review by its owner, HDR Global Trading, it will cease providing services on September 23, has already stopped accepting new registrations, and plans to prohibit users from opening new positions starting August 26.
CZ: Regrets BitMEX Didn't Survive the "War on Crypto"
CZ expressed regret over BitMEX's closure announcement, recalling that BitMEX pioneered the 100x leveraged perpetual contract in the crypto market in 2014, driving industry development.CZ noted that BitMEX only supported BTC deposits and single-chain operations at the time, and adopted a once-daily, multi-signature wallet batch withdrawal process. These seemingly inconvenient designs, he said, actually helped the platform avoid hacker attacks over the long term.He also mentioned that BitMEX's four co-founders admitted to violating the Bank Secrecy Act (BSA) one month before their trial, each being fined $10 million and sentenced to home detention, with no prison time. However, CZ believes that BitMEX's business ultimately couldn't withstand the "War on Crypto" during the Biden administration.In conclusion, CZ stated that BitMEX is currently winding down in an orderly fashion, users can still withdraw assets, and he paid tribute to co-founder Arthur Hayes.
Cumulative trading volume reaches $1.56 billion, @machibigbrother still down $424,000 after receiving PAPER airdrop
Odaily reports: According to monitoring by on-chain analyst Ai Yi, @machibigbrother has accumulated a trading volume of $1.56 billion since October 10, with realized losses of $833,000, ranking 10th on the loss leaderboard; the account received an airdrop of 437,000 PAPER tokens (405,000 tokens), yet after offsetting, the account remains down $424,000. @machibigbrother mostly opened ETH long positions on @papetrade_xyz, with leverage ranging from 50x to 1000x, mostly at 100x, and continuously posted multiple tweets praising the platform's model.
A trader turned $24,000 into $275,000 on Aster in less than a month, a return of roughly 11x
Odaily News: According to Lookonchain monitoring, an address on Aster_DEX turned $24,000 into $275,000 in less than a month, achieving an 11x return. The address deposited $24,000 into Aster and used up to 100x leverage to go long on Bitcoin, ETH, and LINK, realizing over 10x gains on each trade. The address has withdrawn $91,000 in profits and still holds $184,000 on Aster.
CZ: Regrets BitMEX Didn't Survive the "War on Crypto"
CZ expressed regret over BitMEX's closure announcement, recalling that BitMEX pioneered the 100x leveraged perpetual contract in the crypto market in 2014, driving industry development.CZ noted that BitMEX only supported BTC deposits and single-chain operations at the time, and adopted a once-daily, multi-signature wallet batch withdrawal process. These seemingly inconvenient designs, he said, actually helped the platform avoid hacker attacks over the long term.He also mentioned that BitMEX's four co-founders admitted to violating the Bank Secrecy Act (BSA) one month before their trial, each being fined $10 million and sentenced to home detention, with no prison time. However, CZ believes that BitMEX's business ultimately couldn't withstand the "War on Crypto" during the Biden administration.In conclusion, CZ stated that BitMEX is currently winding down in an orderly fashion, users can still withdraw assets, and he paid tribute to co-founder Arthur Hayes.
From retail investor to one of the top U.S. stock market players with $7.7 million in trading volume—“U.S. Stock Trading King” turns $30,000 into 100x returns
According to Hyperinsight’s monitoring, the most outstanding U.S. stock trading address on Hyperliquid—dubbed the “U.S. Stock Trading King”—entered the U.S. stock trading arena in early April with a principal of approximately $30,000, initiating a long position in INTC (Intel), and subsequently scaled up its position continuously through rolling positions.
Humanity hacker has minted 300 million H and cashed out $34 million
According to monitoring by on-chain analyst Ember, the "private key leak" has allowed the minting and dumping of H to continue for 13 hours. The so-called "hacker" is still able to mint H on the BSC chain and sell it off, draining every last cent from the pools. The "hacker" has minted 300 million H and sold a total of approximately 450 million H, cashing out $34 million (ETH+BNB). The H pool on BSC has been drained to just $13 in liquidity, and the price of H has plummeted 99.9% to $0.0009. Meanwhile, the perpetual contract price on CEX stands at $0.09, a 100x difference. In essence, they have de-pegged into two unrelated tokens.
CZ: Regrets BitMEX Didn't Survive the "War on Crypto"
CZ expressed regret over BitMEX's closure announcement, recalling that BitMEX pioneered the 100x leveraged perpetual contract in the crypto market in 2014, driving industry development.CZ noted that BitMEX only supported BTC deposits and single-chain operations at the time, and adopted a once-daily, multi-signature wallet batch withdrawal process. These seemingly inconvenient designs, he said, actually helped the platform avoid hacker attacks over the long term.He also mentioned that BitMEX's four co-founders admitted to violating the Bank Secrecy Act (BSA) one month before their trial, each being fined $10 million and sentenced to home detention, with no prison time. However, CZ believes that BitMEX's business ultimately couldn't withstand the "War on Crypto" during the Biden administration.In conclusion, CZ stated that BitMEX is currently winding down in an orderly fashion, users can still withdraw assets, and he paid tribute to co-founder Arthur Hayes.
Humanity hacker has minted 300 million H and cashed out $34 million
According to monitoring by on-chain analyst Ember, the "private key leak" has allowed the minting and dumping of H to continue for 13 hours. The so-called "hacker" is still able to mint H on the BSC chain and sell it off, draining every last cent from the pools. The "hacker" has minted 300 million H and sold a total of approximately 450 million H, cashing out $34 million (ETH+BNB). The H pool on BSC has been drained to just $13 in liquidity, and the price of H has plummeted 99.9% to $0.0009. Meanwhile, the perpetual contract price on CEX stands at $0.09, a 100x difference. In essence, they have de-pegged into two unrelated tokens.
Relay Says Its Service Covers Thousands of Developers and Roughly 100x Transaction Volume, Responding to Pump Cross-Chain Performance Controversy
Odaily reports: Relay posted on X stating that its platform serves use cases including wallets, payments, real-world assets, prediction markets, perpetual contracts, and trading, covering thousands of developers. It claims that the platform is best-in-class in terms of transaction latency, reliability, and fill rates, with data covering roughly 100x transaction volume, larger orders, more routing, and more use cases, and it publicly provides Dune data. Relay stated that performance may vary significantly across different applications depending on integration methods, and that it has recently released multiple updates.
Cumulative trading volume reaches $1.56 billion, @machibigbrother still down $424,000 after receiving PAPER airdrop
Odaily reports: According to monitoring by on-chain analyst Ai Yi, @machibigbrother has accumulated a trading volume of $1.56 billion since October 10, with realized losses of $833,000, ranking 10th on the loss leaderboard; the account received an airdrop of 437,000 PAPER tokens (405,000 tokens), yet after offsetting, the account remains down $424,000. @machibigbrother mostly opened ETH long positions on @papetrade_xyz, with leverage ranging from 50x to 1000x, mostly at 100x, and continuously posted multiple tweets praising the platform's model.
Bitget has launched the USDBRL forex perpetual contract.
According to the official announcement, Bitget has launched the USDBRL (US Dollar vs Brazilian Real) forex perpetual contract. The contract is settled in USDT, supports leverage of up to 100x, and enables 24/7 trading.
Bitget Lists EURUSD, USDJPY, and GBPUSD Forex Perpetual Contracts
Odaily News, according to an official announcement, to meet users' diversified investment needs, Bitget has listed EURUSD, USDJPY, and GBPUSD forex perpetual contracts. These contracts are settled in USDT, support up to 100x leverage, and offer 7×24-hour trading.
Bybit launches perpetual contracts for major forex pairs with up to 100x leverage
Odaily News, Dubai-based cryptocurrency exchange Bybit has launched USDT-settled forex perpetual contracts covering three major currency pairs: EUR/USD, GBP/USD, and USD/JPY. The contracts support 24/7 trading with up to 100x leverage available.These contracts have no expiry date, with all profits and losses settled in USDT. Traders simply track the price movements of the underlying currency pairs without taking ownership of the corresponding currencies. The product has been added to Bybit's TradFi Perpetuals lineup launched in April, which currently covers over 200 assets including stocks, commodities, ETFs, and pre-IPO companies. (Cointelegraph)
Bybit launches 100x leverage forex perpetual contracts
Bybit has announced the launch of USDT-margined forex perpetual contracts with up to 100x leverage. The product covers major G10 currency pairs such as EUR/USD, providing a 24/7 uninterrupted trading experience, and aims to further expand its footprint in the traditional financial sector.
Related news
Relay Says Its Service Covers Thousands of Developers and Roughly 100x Transaction Volume, Responding to Pump Cross-Chain Performance Controversy
Odaily reports: Relay posted on X stating that its platform serves use cases including wallets, payments, real-world assets, prediction markets, perpetual contracts, and trading, covering thousands of developers. It claims that the platform is best-in-class in terms of transaction latency, reliability, and fill rates, with data covering roughly 100x transaction volume, larger orders, more routing, and more use cases, and it publicly provides Dune data. Relay stated that performance may vary significantly across different applications depending on integration methods, and that it has recently released multiple updates.
Cumulative trading volume reaches $1.56 billion, @machibigbrother still down $424,000 after receiving PAPER airdrop
Odaily reports: According to monitoring by on-chain analyst Ai Yi, @machibigbrother has accumulated a trading volume of $1.56 billion since October 10, with realized losses of $833,000, ranking 10th on the loss leaderboard; the account received an airdrop of 437,000 PAPER tokens (405,000 tokens), yet after offsetting, the account remains down $424,000. @machibigbrother mostly opened ETH long positions on @papetrade_xyz, with leverage ranging from 50x to 1000x, mostly at 100x, and continuously posted multiple tweets praising the platform's model.
Polymarket CEO Calls Chasing 100x Tokens "Irrational Exuberance"
Odaily News: Shayne Coplan, CEO of prediction market platform Polymarket, stated that chasing tokens that could appreciate 100x amounts to "irrational exuberance" and a game of "greater fool theory." Some traders attempt to sell before token prices go to zero, though a few may accumulate wealth in the process.Coplan pointed out that Polymarket users prefer to participate in event trading with relatively predictable odds, rather than searching for the next 100x token. Polymarket's prediction trading volume over the past 7 days reached $1.21 billion, while Kalshi's was $2.3 billion during the same period.Multiple U.S. states have taken legal action against Polymarket, Kalshi, or both regarding sports event contracts, and several countries and regions have also restricted or blocked access to Polymarket. (Cointelegraph)
100x leverage will not be allowed, CFTC Chair: Only federally regulated crypto trading platforms can offer leveraged trading
CFTC Chairman Michael Selig said yesterday that under the proposed rules, only federally regulated cryptocurrency trading platforms will be able to offer leveraged trading. States can only provide money transmission services, and the 100x leverage commonly seen outside the United States has never been allowed in the U.S., nor will it be this time. Previously, the U.S. Commodity Futures Trading Commission proposed two new rules aimed at establishing a U.S. cryptocurrency regulatory framework based on its authority to oversee leveraged and margin trading.
Bitget has launched the USDBRL forex perpetual contract.
According to the official announcement, Bitget has launched the USDBRL (US Dollar vs Brazilian Real) forex perpetual contract. The contract is settled in USDT, supports leverage of up to 100x, and enables 24/7 trading.
Yilihua: Future profit opportunities include major cryptocurrency swing trading, trading Infra, and IPO on-chain
Yilihua posted on X stating that rate hike expectations have emerged over the past two days, and the market direction has become divergent. Now that bearish news has appeared, there are two possible scenarios ahead. One is an actual rate hike, in which case the price would briefly drop below 76,000 and continue ranging at lower levels before rising again. The other is no rate hike, in which case the price would continue to rise. Either way, spot trading without leverage is optimal. Today, at a business school exchange in Shenzhen, several opportunities for the next three years were discussed. One is mainstream BTC/ETH spot with roughly 4x potential, and with active swing trading, striving for 10x. Another is trading Infra, which still offers 100x opportunities—the core demand of blockchain is trading. The last is the IPOs defined by CZ, where stocks and IPOs go on-chain, bringing truly dark-horse quality assets and marking the complete end of the former white paper Token era.