News linked to both this project and an event.
Avail has launched ShieldTX, a privacy tool for Hyperliquid traders, which reduces the ability of on-chain copy-trading bots to link transaction records and replicate trading strategies by creating a separate wallet for each perpetual contract position.According to research provided to The Block ahead of ShieldTX's launch, the tool analyzed 332,317 trading wallets on Hyperliquid and sampled 7 of the top 100 traders along with suspected copy-trading wallets, estimating that the median added cost per trade for copied traders due to execution price impact is 63 basis points, or 0.63%. The research also shows that among Hyperliquid's top 150 accounts, about 29% use sub-accounts, but the associated wallets may still be linkable on-chain. (The Block)
Odaily Report: Zcash co-founder Sean Bowe has submitted a proposal to stop the automatic allocation of block rewards to the Zcash Community Grants (ZCG) program and redirect the remaining 8% of block rewards originally allocated to the program to the Network Sustainability Mechanism (NSM). He stated that ZCG currently holds over $125 million in funds and will receive several million more before the funding inflow stops, and that the existing grants program was not designed to manage funds of this scale.According to the draft proposal, ZCG holds 91,452.98 ZEC and approximately $8.8 million in USD-denominated assets, with $2.4 million in outstanding grant commitments. Bowe noted that the current 8% allocation mechanism generates over $68 million worth of ZEC per year, while the Financial Privacy Foundation disclosed that ZCG's spending in the first quarter of 2026 was only $1.53 million. If the proposal is approved, the original allocation percentage will be redirected to the NSM, and the total Zcash issuance will not increase. Meanwhile, the separate 12% of block rewards allocated to the Coinholder-Controlled Fund will remain unchanged. ZCG will still be able to retain and manage its existing assets, continue approving grants, and fulfill outstanding commitments.The proposal has not yet specified an activation block height and has not been included in the currently planned NU7 network upgrade; it would require a future network upgrade to take effect. (The Block)
According to The Block, StoneX raised its price target for Bitcoin treasury company Strive (ASST) from $32 to $43 and maintained a "Buy" rating. Analysts believe that the company's recent expansion of its preferred stock issuance will help improve its Bitcoin accumulation strategy and capital structure. On October 20, Strive completed a $630 million preferred stock IPO, issuing 7 million shares of SATS preferred stock with a 15% annual dividend rate. Additionally, the company disclosed that it acquired an additional 6,182 BTC between October 17 and 23, bringing its total holdings to 43,000 BTC and ranking fourth among public companies in Bitcoin holdings.
Odaily reports: U.S. spot Bitcoin ETFs saw a net outflow of $635.6 million on Thursday, the largest single-day net outflow since June. Among them, BlackRock's IBIT saw a net outflow of $254.1 million, Fidelity's FBTC saw a net outflow of $217.5 million, and Ark Invest and 21Shares' ARKB saw a net outflow of $109.4 million. Morgan Stanley's MSBT bucked the trend with a net inflow of $2.3 million; since its launch in April this year, the fund has recorded only one single-day net outflow.Despite the large outflow on Thursday, U.S. spot Bitcoin ETFs still recorded cumulative net inflows of $442.7 million this week. Since their launch in January 2024, such ETFs have accumulated more than $57 billion in net inflows, with assets under management exceeding $100 billion. Meanwhile, U.S. spot Ethereum ETFs saw a net outflow of $110.6 million on Thursday, Solana and Hyperliquid ETFs also saw outflows, while XRP ETFs recorded a net inflow of $3.6 million.In the market, Bitcoin fell to about $81,500 at one point on Friday, down 3.4% over the past 24 hours. The selloff in U.S. tech stocks spread to Asian markets, compounded by concerns over AI spending and geopolitical tensions, weighing on crypto market performance. Over the past 24 hours, liquidations of leveraged positions in the crypto market totaled at least $440 million, of which about $397 million were long liquidations. Jeff Anderson, head of STS Digital's U.S. division, said the market has recently remained in a trading range of $80,000 to $86,000, and attention should be paid to the direction of a breakout from the range. (The Block)
According to The Block, JPMorgan analysts including Nikolaos Panigirtzoglou stated in Wednesday's report that recent actions by U.S. regulators are partially offsetting the adverse impact of the Senate's failure to advance the Clarity Act, but until a crypto market structure bill is enacted, the political and legal risk premium will persist. Analysts note that regulator-driven measures could encourage institutional participation in the short term, but only legislation can ensure a more durable regulatory framework. If the Democratic Party wins the White House, existing regulatory measures could be overturned within as little as two years. The bill is unlikely to pass this year and may instead be put back on the agenda in 2027.
Bitcoin's 28-day volatility has fallen to 1.2%, close to its lowest level since 2026, reflecting subdued trading activity in the current market. K33 analysts expect Bitcoin market volatility to pick up as next week's Federal Reserve interest rate decision and the U.S. midterm elections on November 3 approach. (The Block)
According to The Block, Bitcoin spot ETFs saw a net outflow of $228.6 million last week, with BlackRock’s IBIT accounting for $165.5 million. Ethereum spot ETFs experienced even larger net outflows, totaling $320 million.
According to The Block, TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their price target for Strive (ASST) on Friday from $44 to $56. Strive's bitcoin holdings have increased to 35,595 BTC, valued at approximately $2.9 billion, up from 28,000 BTC at the end of September. This represents an acquisition of nearly 7,600 BTC over two weeks, surpassing TD Cowen's previous forecast of adding 4,750 BTC in the fourth quarter. The purchases include 3,311 BTC acquired on Tuesday (approximately $280 million, marking its largest single transaction since January) and 2,822 BTC on Wednesday. Strive is now the publicly traded company with the fourth-largest bitcoin treasury, marginally ahead of MARA's reported holdings. Strive has simultaneously expanded its SATS preferred stock offering to 7 million shares at $90 per share, targeting $630 million in proceeds, with completion expected by October 20. The company plans to reserve cash sufficient to cover dividend payments for 18 months. TD Cowen expects the offering to fund future bitcoin acquisitions without necessitating additional common stock issuance.
According to The Block (@TheBlockCo), the Zano network was recently subjected to a Gateway Address vulnerability attack, resulting in the unauthorized minting of ZANO and fUSD that have since entered the market. To contain the losses, the team has urgently restarted the blockchain. The team is currently actively negotiating with affected projects and relevant counterparties regarding compensation for losses, and will publish a formal compensation and claims process in the near future.
According to The Block, Bernstein analysts indicated that Senate Republicans' progress on the Clarity Act may surpass market consensus expectations. The Republican proposal has been finalized, incorporating 126 substantive amendments put forward by Democrats. President Trump has also endorsed most measures within the bipartisan ethics framework, including granting enforcement authority to state attorneys general. Bernstein pointed out that the crypto market currently holds a pessimistic view toward Tuesday’s procedural vote, with "any upside surprises not yet priced in." The probability of the bill's passage on prediction market platform Kalshi has climbed back above 30%. Analysts cautioned that a failure to pass the legislation, combined with hawkish remarks from the Federal Reserve, could trigger a "significant pullback" in markets. However, even if the bill fails, it will accelerate SEC and CFTC crypto regulatory rulemaking rather than derail broader regulatory efforts.
Odaily News Bitcoin has rebounded strongly recently. Analysts believe that record-breaking short squeeze activity, along with policy signals from U.S. Treasury Secretary Scott Bessent, may be pushing the market into a new phase of bull market cycle adjustment.Data shows that Bitcoin has risen approximately 23% over the past week, marking its largest weekly gain since the post-U.S. election rally in November 2024. Crypto market trading activity has also recovered in tandem, with spot and perpetual contract trading volume surging 188%. CME Bitcoin futures volume rose 152%, and the annualized futures basis climbed to 11.1%—the highest level since January 2025. Additionally, Bitcoin ETF products recorded net inflows of approximately 31,740 BTC over the week, the strongest capital inflow since the market peak in October 2025.Vetle Lunde, Head of Research at crypto research firm K33 Research, stated that the early phase of this rally was primarily driven by short covering. On August 19, Bitcoin short positions saw a single-day liquidation scale of $1.37 billion, a record high, followed by another $739 million in short liquidations on August 21. The massive short squeeze pushed open interest in perpetual contracts down to 284,000 BTC, the lowest level since May, while market funding rates also returned to neutral.On the macro front, policy signals from U.S. Treasury Secretary Scott Bessent regarding increased long-term Treasury buybacks are also viewed by analysts as a market catalyst. K33 believes that the Treasury buyback program could lower long-term interest rates and boost demand for scarce assets. Meanwhile, Bitcoin's correlation with gold has risen, with the 90-day correlation coefficient reaching 0.52—the highest since October 2020—while its correlation with the Nasdaq index has declined to 0.38, a one-year low.Matt Hougan, Chief Investment Officer at crypto investment firm Bitwise Asset Management, believes that Bessent's recent remarks on sanctions against Iran's financial network have further strengthened Bitcoin's investment thesis: as the global financial system becomes increasingly influenced by geopolitics, the value of assets that are decentralized and do not rely on any single nation's financial system may appreciate further. (The Block)
Odaily News: Bernstein analysts have assigned Circle an “Outperform” rating with a price target of $140, noting that its growth cycle does not depend on the progress of the Clarity Act. The analysts pointed out that USDC supply grew by $1.7 billion over the past week, and the stablecoin trading volume market share continues to expand. (The Block)
According to The Block, South Korea's largest cryptocurrency exchange Upbit saw a 273% surge in trading volume over the past 24 hours, reaching approximately $1.84 billion and marking its highest single-day level since mid-March. XRP was the most traded cryptocurrency on the platform, with approximately $419 million in volume, followed by Bitcoin, USDT, and Ethereum.
Odaily News - Investment firm Bernstein recently released a report assigning different ratings to two major Bitcoin miners transitioning to AI infrastructure: maintaining an "Outperform" rating on CleanSpark with a price target of $24, and initiating coverage on MARA Holdings with a "Market-Perform" rating and a price target of $17.Bernstein analysts stated that the core reason for the valuation divergence between the two companies lies in their differing progress in executing AI infrastructure transitions. CleanSpark has already signed an anchor tenant agreement for an AI data center and commenced construction, while MARA is still awaiting its first commercial AI contract.Regarding CleanSpark, the company previously announced the signing of a 20-year triple-net lease agreement with a global high-investment-grade technology firm, covering 175MW of IT capacity at its Sandersville, Georgia project. The agreement also includes exclusive cooperation arrangements for CleanSpark's total 885MW asset portfolio in Texas. Bernstein believes that CleanSpark's collaboration with tenant-designated engineering and construction contractors helps mitigate risks associated with its first large-scale AI infrastructure deployment. The first data center hall is expected to become operational in the fourth quarter of 2027.In contrast, Bernstein's assessment of MARA is more cautious. Analysts pointed out that the first commercial AI contract will serve as a key catalyst for a re-rating of MARA's stock, noting that company management previously indicated expectations of signing at least two AI lease agreements by the end of this year. (The Block)
Odaily Odaily News: Wall Street investment firm Bernstein has reaffirmed its "Outperform" rating on stablecoin issuer Circle Internet Financial, maintaining a $140 price target.Bernstein stated that Circle's second-quarter performance effectively addressed previous market concerns regarding intensifying stablecoin competition and the growth potential of reserve asset income. Analysts believe that Circle's expanding partnerships, regulatory licensing progress, and the upcoming Arc blockchain project will bring new revenue streams to the company—growth drivers that are not yet fully reflected in current market expectations.As the stablecoin market continues to expand, Circle is expected to further broaden its business model through payment infrastructure, on-chain financial services, and ecosystem collaborations, with its future growth potential still underestimated by the market. (The Block)
According to The Block, Cloudflare has announced the early launch program for programmable stablecoin wallets, designed specifically for AI agents to pay for APIs, data, and online content. The wallets are divided into two categories: Account Wallets for individuals and institutions to fund and control spending, and Virtual Wallets that operate via API keys, allowing AI agents to complete purchases autonomously. Users can set spending limits, authorized merchant lists, and per-transaction limits. The wallet will support the x402 protocol developed by Coinbase, enabling machine-to-machine micropayments without traditional accounts or subscriptions. Currently, users can claim wallet accounts in advance, with funding and payment functions going live soon.
据 The Block 报道，德克萨斯州州长 Greg Abbott 本周一下令要求公用事业委员会（PUCT）及电网运营商 ERCOT 对州内所有在队列中的数据中心项目展开审计，ERCOT 随即暂停了原定本月公布结果的"Batch Zero"大型用电审批流程。目前数据中心申请占 ERCOT 474GW 互联队列的约 90%。 Bernstein 分析师在周二发布的客户报告中指出，此次监管审查将抑制投机性开发、压缩新增电力容量供给，从而提升已获批电力容量的稀缺价值，利好现有比特币矿企及 AI 运营商。报告点名 Cipher Digital（CIFR）、CleanSpark（CLSK）及 Core Scientific（CORZ）受审计影响较大，因其近期扩张计划依赖德州电网接入；而 Terawulf（WULF）因电力资产分布于肯塔基、马里兰及纽约等多州，抗风险能力较强；Riot Platforms（RIOT）和 IREN 则因已在 ERCOT 拥有大规模获批运营资产而受益。
According to The Block, Bernstein analysts indicated that the likelihood of the U.S. Clarity Act passing within 2026 is declining, with the Senate left with only this week's window (before recess on August 7). Analysts noted that if the bill fails, the digital asset market may experience a negative reaction in the short term, but the SEC and CFTC will accelerate rule-making under the "Project Crypto" framework, covering token classification, DeFi, and self-custody regulatory details, while continuing to promote innovative areas such as tokenized real-world assets (RWA), perpetual contracts, and prediction markets. CFTC Chairman Michael Selig previously also warned that if Congress fails to act, regulators will be forced to "take over all rule-making". Currently, bipartisan senators Thom Tillis and Ruben Gallego have submitted a revised ethics compromise proposal, and negotiations are still ongoing.
According to The Block, the JPMorgan analyst team (led by Managing Director Nikolaos Panigirtzoglou) released a report on July 30 stating that the probability of the "Clarity Act" (Crypto Market Structure Act) passing in the US Senate within the year has dropped to a historic low. The Kalshi prediction market shows a passing probability of only 37%, while Polymarket is even lower at 26%. Analysts pointed out that disagreements on core issues such as ethical provisions, enforcement standards, stablecoin yields, decentralized finance, and illicit finance remain unresolved. Voting is expected to be difficult to complete before the Senate summer recess, and may be postponed until after senators return in mid-September.
According to The Block, bipartisan Senators Thom Tillis (Republican) and Ruben Gallego (Democrat) submitted a new ethics compromise proposal to the White House on Thursday morning local time, attempting to break the deadlock in advancing the Clarity Act cryptocurrency legislation. Currently, there is less than a week left until the Senate recesses on August 7, but the bill still has not obtained the 60 votes required for passage. Democrats insist on adding stricter ethics provisions to constrain the Trump family's crypto interests, including the Meme coins they issued and the World Liberty Financial project in which the family participates, while some Republican senators have objections to the stablecoin interest provisions, worrying that it will divert deposits from traditional banks to the crypto sector. Although the draft leaked last week prohibited public officials and their spouses from issuing digital assets, it did not cover other family members, and included a "sunset clause" expiring in January 2029, which critics believe essentially nullifies the entire ethics provision. Treasury Secretary Scott Bessent subsequently blamed the Democrats on X, stating that they "chose political gaming on the verge of a major victory". The Crypto Innovation Committee (CCI) warned that if the bill fails to pass, the US will hand over its global leadership position in the field of crypto regulation.