Key News Last Night and This Morning (September 27–28)

Hyperliquid: Next upgrade will raise HIP-4 deployment limits and lower funding rate cap

Hyperliquid co-founder Jeff Yan announced on the official Discord that the next network upgrade will, based on builder feedback, raise the number of active results a single HIP-4 deployer can maintain simultaneously from 100 to 200, and the daily deployment cap from 500 to 1,000; at the same time, the perpetual contract funding rate cap will be lowered from 4% per hour to 0.5%, with officials noting that the cap is rarely hit in actual trading.

Vitalik: Hegota may be Ethereum's last "regular" upgrade before transitioning to a "cryptographic world computer"

Ethereum co-founder Vitalik Buterin published an article titled "The cryptographic world computer," stating that Ethereum is evolving from a traditional blockchain into a "cryptographic world computer" that integrates blockchain, cryptographic privacy and verification, and decentralized off-chain components. He expects that the Hegota upgrade planned for next year may be Ethereum's last "regular" upgrade, after which the core directions will include recursive STARKs, automated formal verification, highly optimized consensus algorithms, and quantum security. Vitalik said that by 2030, Ethereum's block verification will shift from full download and re-execution to SNARK verification and PeerDAS data availability sampling; consensus will shift to an optimized PoS with few-slot finality and an availability chain mechanism, and block construction will also shift from a single block producer to multi-party participation. On the user side, stronger censorship resistance, privacy protection, lighter node operation requirements, and slot times of about 4–8 seconds and final confirmation times of about 8–32 seconds are expected. He stated that PeerDAS has already begun Ethereum's transformation from a mere blockchain to a stronger system, and after Hegota, this transformation will become Ethereum's main narrative.

Anthropic's female president becomes youngest self-made female billionaire at 39

Anthropic co-founder and president Daniela Amodei entered the Forbes 400 list of richest Americans for the first time with a fortune of about $15.5 billion, becoming the youngest self-made female billionaire. She oversees the daily operations of the AI company, which is valued at nearly $1 trillion and plans to IPO in the U.S. in November, and serves as chair of the board. The report cited market expectations that Anthropic's annualized revenue grew rapidly from $1 billion in early 2025 to $65 billion by the end of July 2026, with private secondary market valuations once pushed to about $1.5 trillion. As the company prepares for one of the largest tech IPOs in history, the equity value of the founding team and employees has grown substantially, with multiple co-founders joining the ranks of the world's wealthiest.

U.S. Senator Lummis: Clarity Act provisions rejected by Democrats would empower Treasury to combat money laundering on offshore exchanges

U.S. Senator Cynthia Lummis of Wyoming posted that Democrats had previously demanded that the Treasury be granted new powers to cut off funding channels for money laundering activities conducted through offshore exchanges such as Binance, and that the Clarity Act she proposed already provides the Treasury with such authority. But she said Democrats voted against the bill, thereby rejecting the legislative attempt to strengthen regulation of money laundering on offshore crypto exchanges.

Bitwise NEAR spot ETF approved for listing on NYSE Arca

NYSE Arca has approved the listing of the Bitwise NEAR Protocol spot ETF under the ticker "NRR," making it the first NEAR spot ETF in the U.S.; previously, investors mainly gained exposure through the Grayscale NEAR Trust. The ETF has a management fee of 0.75%, with NEAR custodied and staked by Coinbase Custody; the listing date has not yet been announced. Following the news, NEAR briefly rose to around $5.

Data: Tokens such as 2Z, SUI, and ENA will see large unlocks next week, with 2Z unlocking about $114 million

Token Unlocks data shows that tokens such as 2Z, SUI, and ENA will see large unlocks next week, including: DoubleZero (2Z) will unlock about 1.66 billion tokens at 9:00 PM Beijing time on October 2, representing about 47.69% of circulating supply and worth about $114 million; Sui (SUI) will unlock about 13.26 million tokens at 8:00 AM Beijing time on October 1, representing about 0.32% of circulating supply and worth about $16.7 million; Ethena (ENA) will unlock about 40.63 million tokens at 3:00 PM Beijing time on October 2, representing about 0.45% of circulating supply and worth about $11 million; Kamino (KMNO) will unlock about 229 million tokens at 8:00 PM Beijing time on September 30, representing about 2.81% of circulating supply and worth about $10.8 million; Collector Crypt (CARDS) will unlock about 59.26 million tokens at 3:00 AM Beijing time on September 30, representing about 10.62% of circulating supply and worth about $10.7 million; EigenCloud (EIGEN) will unlock about 36.82 million tokens at 12:00 PM Beijing time on October 1, representing about 5.19% of circulating supply and worth about $10.3 million; Falcon Finance (FF) will unlock about 77.14 million tokens at 9:00 PM Beijing time on September 29, representing about 2.51% of circulating supply and worth about $10.2 million.

MiniMax launches new-generation ultra-fast text model M3.1-Flash-Preview

AI company MiniMax announced its latest text model, M3.1-Flash-Preview, which has officially launched on MiniMax Code. The model is positioned for everyday development scenarios, and the company says it can be used in code development to quickly fix bugs and implement complete features, emphasizing response speed and stability. MiniMax also launched a limited-time campaign on MiniMax Code: from September 28 to October 7 (UTC+8), users who check in daily can earn 2x points, applicable to code models including M3.1-Flash-Preview, as well as the H3 model used for video generation.

Monochrome Exchange, founded by former Binance Australia CEO, launches MCR IEO, raising over 5.5 million USDT

Monochrome Exchange, founded by Binance Australia co-founder and former CEO Jeff Yew, has launched an IEO for the MCR token, with funds raised exceeding 5.5 million USDT so far.

A Solana whale opened a 20x leveraged long position and now has unrealized gains of over $23 million

Address 0x9c6a opened a 20x leveraged long position about a month ago, going long 550,087 SOL with a notional value of about $67.88 million, and currently holds unrealized gains of over $23 million. The trader has placed a take-profit sell order near $200. If the SOL price rises to $200, the cumulative profit from this leveraged trade could exceed $65 million.

Analyst: A group on Robinhood Chain cashed out $18.43 million through 53 token launches

On-chain analyst Wazz posted that he discovered a persistent "rug pull" cash-out group on Robinhood Chain, linked to at least 53 token launch projects over the past two months, cashing out a total of about $18.43 million, with the actual scale possibly larger; the DEED token that triggered this investigation did not even rank in the group's top ten by cash-out amount.

Vitalik publishes sci-fi novel "Snowmoon," incorporating governance settings such as quadratic voting

Vitalik Buterin posted on X that he has completed his personally written 32-chapter sci-fi novel "Snowmoon," with all text written by himself and AI only assisting with proofreading and consistency checks; the story is set in the fictional city-state of Veridia and involves governance and technical elements such as quadratic voting, quadratic funding, cryptographic sortition elections, and zero-knowledge privacy authentication; the work is open-sourced under the GPL v3 license, requiring that if it is adapted into film or animation, the adaptation process must also be open-sourced.

Trump plans private dinner at the White House on Sunday evening to host Anthropic CEO

U.S. President Trump plans to host a private dinner at the White House on Sunday evening for Anthropic CEO Amodei. The dinner will be Trump's first one-on-one meeting with Amodei and signals that relations between Anthropic and the Trump administration are easing. Government officials and their allies have long had tense relations with Anthropic. Trump and House Speaker Johnson plan to meet with several top AI company CEOs at the White House on Tuesday, and this private dinner can be seen as a "warm-up" for that meeting.

Bloomberg analyst: Bitcoin and other cryptocurrencies have underperformed over the past decade, and crypto's peak moment has passed

Bloomberg senior analyst Mike McGlone wrote that, from a risk and portfolio management perspective, Bitcoin and other cryptocurrencies may be classified as underperforming assets over the past nearly decade. The Market Vector Digital Asset 100 Index (MVDA, about two-thirds Bitcoin) has been essentially flat since 2017, while the Nasdaq 100 Index (NDX) has continued to rise over the same period. Although MVDA's volatility averages about 3x higher and is positively correlated with the stock market, it has failed to provide effective risk diversification, making it underperforming from a risk and portfolio management perspective. McGlone believes that after Bitcoin futures launched in 2017 and crypto entered the mainstream, MVDA no longer outperformed NDX; the listing of U.S. ETFs and Trump's shift in stance before the 2024 election may have been crypto's peak moment. This situation is unlikely to change.

Driven by partnership with U.S. clearing house The Clearing House, Quant (QNT) surged over 340% in 7 days

Market data shows that Quant (QNT) rose 342.1% over the past 7 days and 97.6% over 24 hours, currently trading at $298.75. According to an official announcement on September 24, The Clearing House, a U.S. clearing house, will use Quant, a provider in the programmable money infrastructure space, to provide technical support for its "Money on Chain" initiative. This is a new interoperable payment network designed to enable financial institutions of all sizes to clear and settle tokenized deposit transactions. Quant's technology will support the network's interoperability, orchestration, and transaction management layer, thereby coordinating the clearing and settlement of tokenized deposit transactions; at the same time, the technology will enable interconnection with existing fiat payment systems used daily by financial institutions and their customers, including the RTP® and CHIPS® networks. The Clearing House operates U.S. payment networks, processing more than $2 trillion in clearing and settlement business daily through wire transfers, ACH, check imaging, and real-time payments.

Data: USDT added 845,900 holders in the past 7 days, more than double USDC

According to Token Terminal data, over the past 7 days, USDT added 845,900 holders, USDC added 390,800 holders, EURC added 69,800 holders, USDG added 23,300 holders, and CASH added 18,600 holders.

Archetype partner: Tokenized stock holders may exceed 100 million within three years

Archetype partner Dmitriy Berenzon posted that, to date, there are roughly 4 million holders of tokenized stocks; and he predicts that the number of holders will reach 100 million within three years.

Ministry of State Security: The so-called "anonymity" of virtual currency is fundamentally a false proposition

The Ministry of State Security's official account published an article titled "Virtual currency crimes cannot be traced? Think again!", pointing out that virtual currency has become an important tool for criminals to engage in various illegal and criminal activities, breeding security risks in multiple areas, including a "hotbed" for money laundering crimes, a "cover" for cyberattacks, and an "accomplice" for espionage and theft of secrets. However, the so-called "anonymity" of virtual currency is fundamentally a false proposition, as the blockchain completely retains data such as transaction records, providing a basis for full-chain tracing. Look at the ledger, and transactions leave traces throughout; trace the chain, and real identities are hard to hide; as for private keys, asset security has no backstop.

GNGN-linked address deposited 6,100 ETH to Coinbase 8 hours ago, possibly Robinhood network fee revenue

A GNGN-linked address deposited 6,100 ETH, worth $16.38 million, to Coinbase 8 hours ago. This ETH was bridged from the Robinhood network to the Ethereum mainnet 6 days ago, and may be Robinhood network fee revenue.

DYORSWAP: The DYOR contract was not attacked; over 200 ETH in compensation has been distributed

DYORSWAP issued a statement saying that the recent incident was not an attack on the DYOR contract, but rather that its application was affected by the fraudulent network "GIWA Chain 9134." The network was launched by operators who manipulated the bridge infrastructure, ultimately draining the real ETH backing the network. The recovered dataset shows that about 1,335 addresses bridged funds, about 767.65 ETH entered the bridge, and ultimately about 766.25 ETH was drained; DYOR had 1,479 operation records on the chain, of which 1,148 were successful, involving 298 wallets and 104 pools; DYOR has used its own funds to distribute over 200 ETH in compensation to affected users. The team is continuing to trace the deployer, funding sources, batch processing infrastructure, and the flow of drained funds, and is distinguishing attackers from genuine victims based on on-chain evidence. Earlier reports said DYORSWAP stated that the fake GIWA mainnet scam caused users to lose about 766 ETH.