Important News from Last Night and This Morning (October 7–October 8)

Gate officially launches Gate Money, building a one-stop financial services gateway on a global compliance framework

Gate founder and CEO Dr. Han attended TOKEN2049 in Singapore, delivered a keynote on the event's main stage, and announced the launch of Gate Money, further connecting fiat currency, digital assets, stocks, payments, and asset management services to provide users with financial services covering asset holding, receiving, transfers, payments, exchange, and yield scenarios. Users can now experience the feature by updating the Gate App to version v8.39.0. The launch of Gate Money is built on Gate's continuously expanding global compliance framework and financial infrastructure. Currently, Gate-affiliated entities have obtained a MiCA crypto-asset service license and a PSD2 payment institution license in Malta, a full VARA virtual asset service operating license in Dubai, and completed digital currency exchange service registration in Australia, while also conducting related business through locally compliant entities in markets such as Japan. Its compliance coverage spans 81 regulated jurisdictions worldwide, providing the compliance foundation for Gate Money to connect multi-asset management, fiat accounts, fund collection and payment, and everyday payment services. This launch further broadens Gate's financial services scope, extending from digital asset trading and management to more scenarios involving assets, funds, and payments, and further strengthens Gate's ability to provide diversified financial services to global users. Going forward, Gate will continue to drive the deep integration of digital assets, traditional finance, and payment scenarios, further building a diversified financial services ecosystem for global users.

Nous Research completes $90 million financing at a $1.5 billion valuation

Nous Research, the developer of the open-source agent Hermes, announced it has completed a $90 million financing round at a $1.5 billion valuation, planning to bring open-source AI assistant tools to enterprise users. The company previously launched the local and cloud AI agent Hermes, which features built-in skills such as search, coding, and image understanding, and can automatically learn and expand its capabilities from user usage.

30-year U.S. Treasury yield rises above 5.7%, the highest level since 2002

The 10-year and 30-year U.S. Treasury yields continued to climb today. As of press time, the U.S. 10-year Treasury yield rose to 5.33%; the U.S. 30-year Treasury yield rose to 5.711%, up more than 6 basis points intraday, the highest level since 2002.

Stablecoin payment infrastructure Noah completes $38 million seed round, with participation from FJ Labs and others

Stablecoin payment infrastructure company Noah announced it has completed a $38 million seed round, with participation from Endeit Capital, FJ Labs, LocalGlobe, Felix Capital, and several well-known angel investors. The new funds will be used to expand international remittance business and broaden its regulatory footprint, providing stablecoin-based cross-border payment services for businesses and individuals.

Crypto market maker GSR commits $100 million to launch on-chain vault business Hare, focusing on on-chain credit

Crypto trading and market-making firm GSR will commit $100 million to develop a new on-chain credit business called Hare. The business is jointly built by GSR and liquidity distribution platform Turtle, primarily responsible for creating and managing on-chain vaults. GSR's multi-year commitment will mainly be provided in the form of credit lines and serve as anchor liquidity for Hare's products, deploying its own funds first before external investors enter. Hare will initially launch two Aave-based products: Hare USD Earn allows users to deposit major USD stablecoins into the same vault to earn yield; Hare Gold Earn offers yield products for holders of Paxos's tokenized gold PAXG and PAXGy, with Paxos Labs participating in the collaboration. Going forward, Hare will focus on evaluating collateral, counterparties, and position risk under market stress.

Crypto proprietary trading platform Vest completes $13 million seed round led by Portal Ventures

Crypto proprietary trading platform Vest announced it has completed a $13 million seed round led by Portal Ventures, with participation from individual investors including executives from Citadel Securities, BlackRock, and KKR. Vest allows eligible traders to conduct 24-hour real perpetual contract trading and shares profits with traders. The round was reportedly completed in July but was only publicly disclosed recently.

U.S. government address moves $165 million in assets within 24 hours, including 1,583.8 BTC sent to Coinbase Prime

After moving $103 million in assets, the U.S. government address transferred another 750.2 WBTC, worth $62.34 million, to Coinbase Prime 15 minutes ago. Over the past 24 hours, the address has moved $165 million in assets, of which 1,583.8 BTC worth $134 million entered Coinbase Prime.

Hunter Biden again responds to LAPTOP token controversy: team did not cash out, market maker caused the token crash

Hunter Biden, son of former U.S. President Biden, posted on X to release the results of an independent investigation into the LAPTOP token launch incident, and said he had commissioned forensic firm Groom Lake to review all transactions on the launch day. Hunter Biden denied that the team cashed out, stating that the founders' tokens remain concentrated in the same wallet and have not been transferred since launch; his personal tokens have been locked for six months and will then be released over two years. Citing the investigation, he said Market Maker 1 had $500,000 in starting capital but only contributed about $5,200 and fewer than 30,000 tokens to the liquidity pool, the latter accounting for only 0.003% of the total supply. The extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, before falling 98% within an hour. 84 seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,200 to zero. Hunter Biden said Market Maker 1's DEX position profited about $686,000, and Market Maker 2's related DEX trading netted over $2.1 million, and argued that the market makers responsible for the launch issues should buy back and burn tokens. He said he takes ultimate responsibility and will not exit the project, planning to burn most of the unclaimed tokens from the first airdrop next week; that airdrop accounted for 10% of the total supply.

Fed meeting minutes: most officials believe one more rate hike before year-end may be appropriate

According to the September monetary policy meeting minutes released by the Federal Reserve, all participating officials supported raising the federal funds rate target range by 25 basis points to 3.75% to 4.00%, and most officials believed one more rate hike before year-end could be appropriate. Officials generally believed inflation risks were skewed to the upside, and some officials noted that AI infrastructure construction could cause medium-term aggregate demand to exceed aggregate supply.

Vitalik: does not recommend users rush to move funds to new wallets

Vitalik posted that he does not recommend users rush to move funds to new wallets, but that they should take seriously the risks AI-accelerated mathematical computation poses to cryptography, and minimize reliance on cryptographic schemes that are vulnerable not only to quantum computing attacks but also potentially to AI attacks. He noted that the new core risk areas are precisely ML-DSA, FHE (fully homomorphic encryption), and lattice-based cryptography. This is another reason, beyond the quantum computing threat, explaining why ECDSA's security may collapse faster than expected, which in turn gives rise to the "use new addresses" recommendation. Most people still believe that "elliptic curve algorithms will be broken, but hash algorithms and lattice-based cryptography are safe," but over the next two years AI advances in mathematics are likely to seriously weaken the practical security of lattice-based cryptography. Vitalik recommends: where feasible, prioritize hash-based schemes over lattice-based schemes; for any lattice-based scheme, be highly cautious about parameter sizes; for privacy protocols, strongly recommend not putting encrypted notes on-chain, but instead transmitting them off-chain through third-party mechanisms; if it is not too troublesome, storing funds in addresses that have not yet been used for any transaction is a good idea. For multisig wallets, off-chain confirmation is better than on-chain confirmation, because this way the signer wallet's signature is not exposed on the public network; if ECDSA is broken earlier than expected due to AI advances, the multisig scheme can at least "gracefully degrade" to a "1-of-1" mode (i.e., funds controlled by the party responsible for collecting signatures), which is far better than the bad situation of "funds being up for grabs." Earlier news: Justin Drake said ECDSA could be broken within months in the worst case, recommending large holders migrate assets to new addresses.

Coinbase to list Pons (PONS) spot trading on October 8

Coinbase will list Pons (PONS) spot trading on October 8. If liquidity conditions are met, the PONS-USD trading pair will open later today in supported regions.

U.S. government address moves $448 million in BTC to Coinbase, transferring $670 million in crypto assets over 32 hours

The U.S. government address continued to move 5,382.1 BTC ($448 million) into Coinbase Prime from last night into early this morning. From early yesterday morning to now, over 32 hours it has cumulatively moved $670 million worth of tokens, including: 6,215.7 BTC ($520 million); 119 million USDT; and 40,285 BNB ($31.63 million), with all of the BTC and USDT entering Coinbase Prime.

Robotics data startup Mecka AI completes $60 million Series B led by Sequoia Capital

Robotics data startup Mecka AI has completed a $60 million Series B round led by Sequoia Capital, with participation from Nvidia, Microsoft's venture fund M12, Qualcomm, and Samsung Electronics. Mecka AI is a startup dedicated to collecting and analyzing human motion data to train humanoid robots and other types of robots. Earlier news: Mecka AI will complete a round led by Sequoia at a valuation of about $500 million.

Sui integrating with Samsung Wallet, 82 million Galaxy devices in the U.S. to support USDC transfers

Sui posted that it is advancing integration with Samsung Wallet, expected to enable about 82 million Galaxy devices in the U.S. to use Sui-based USDC for transfers. The service will also include a gas-free transfer feature, allowing users to send USDC without paying additional network fees. The service will initially launch in the U.S. and later expand to more markets.

Hyperliquid development team redeems 3.75 million HYPE worth $332 million, part of it re-staked

Hyperliquid's development team HyperLabs successfully redeemed 3.75 million HYPE ($332 million) 8 hours ago, and 4 hours ago, after distribution through 5 wallets, the funds were ultimately consolidated into the address 0x875...1d1 (likely an institution that bought tokens OTC from the team). Then 1.25 million HYPE ($110 million) was re-deposited into staking, while the other 2.5 million HYPE ($220 million) remains in the wallet.

Sources: Cointelegraph is looking for a buyer

People familiar with the matter revealed that crypto media company Cointelegraph is looking for a buyer. Prolonged low cryptocurrency prices and lack of volatility have shifted user attention away from crypto news. In addition, Cointelegraph's business has been deeply affected by Google. In October 2025, the outlet's website disappeared from search results after being hit by a Google manual penalty, causing its organic traffic to plummet by about 80%. Before that, the media company's website suffered a front-end vulnerability attack in June last year. According to Similarweb data, the website's monthly visits exceeded 12 million in December 2024. As of September 1, data showed its monthly traffic was just over 700,000. In addition, according to its LinkedIn page, Cointelegraph, founded in 2013, has more than 200 employees. The company's Middle East and North Africa (MENA) franchise business was acquired by Luna Media Corporation in July 2022, intended to fund its global and regional expansion.

Ark Invest sells 151,903 shares of Robinhood worth $16.6 million

Cathie Wood's Ark Invest's latest trade disclosure shows the firm sold 151,903 shares of Robinhood worth $16.6 million on Wednesday through its ARKK ETF.

Whale pinosaur.eth liquidates ETH held for 9 years, profiting $24.21 million, a 65x return

Whale pinosaur.eth liquidated 9,618 ETH ($24.58 million) held for 9 years 6 hours ago, profiting $24.21 million (65x). The whale transferred 9,618 ETH ($24.58 million) into the Kraken exchange 6 hours ago, and his ETH can be traced back to April 2017, when he withdrew 7,459 ETH from the Bitfinex exchange at a time when ETH was priced at only $50.