Crypto Morning Brief: UXLINK Multisig Wallet Attacked, Synthetix to Launch Perp DEX on Ethereum Mainnet
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Crypto Morning Brief: UXLINK Multisig Wallet Attacked, Synthetix to Launch Perp DEX on Ethereum Mainnet
Aster documentation updated: holding Aster will grant a 5% fee discount on perpetual contract trading.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Fed's Musalem: Limited room for further rate cuts; won't support easing if inflation risks rise
According to Jin10 News, Federal Reserve official Musalem stated that there is limited room for further rate cuts, and he would not support additional easing if inflation risks increase.
Fed's Musalem: Interest-bearing restrictions on stablecoins must be upheld when implementing the GENIUS Act
According to Jin10 News, Fed official Musalem emphasized that interest-bearing restrictions on stablecoins must be observed when implementing the GENIUS Act. It is important that stablecoins continue to serve as payment tools rather than savings instruments.
DeFi platform Synthetix to launch Perp DEX on Ethereum mainnet
Per an official announcement, DeFi platform Synthetix has announced the upcoming launch of its perpetual contracts decentralized exchange (Perp DEX) on the Ethereum mainnet.
UXLINK multisig wallet hacked, large amounts of cryptocurrency stolen
Web3 social platform UXLINK issued a security notice on September 23, stating that its multisignature wallet suffered a security breach, resulting in a significant amount of cryptocurrency being illegally transferred to centralized and decentralized exchanges. The team has contacted major exchanges to freeze suspicious deposits and has reported the incident to law enforcement. Blockchain analytics firm Blockscope said it is tracking fund movements across Arbitrum and Ethereum networks. UXLINK pledged to keep the community updated on developments.
0G Foundation: Token airdrop now claimable
The 0G Foundation announced that the 0G token airdrop is now open for claiming, allowing eligible community members to receive their 0G tokens.
Aster document update: Holding Aster grants 5% fee discount on perpetual contract trading
According to BWEnews monitoring, the Aster documentation has been updated—holding Aster now provides a 5% fee discount on perpetual contract trading.
Rainbow announces plans to launch RNBW token in Q4 2025
Per an official announcement from Web3 wallet Rainbow, the RNBW token will be launched in the fourth quarter of 2025.
Bybit Chinese spokesperson: Rumors of platform hack originated from false Xiaohongshu post
Tina, Bybit's head of Chinese operations, clarified on social media today that the rumor circulating in the community about "Bybit being hacked on September 22" is entirely false. According to Tina, the misinformation originated from a fake post on Xiaohongshu by an account with only 59 followers. Community members are urged not to spread the false information to avoid unnecessary panic.
Nasdaq-listed SOL treasury company Forward Industries announces tokenized stock launch on Solana
According to Business Wire, Nasdaq-listed SOL treasury company Forward Industries (NASDAQ: FORD) announced a partnership with fintech firm Superstate to allow shareholders to tokenize and hold FORD shares on the Solana blockchain via Superstate’s Opening Bell platform.
As part of the agreement, Forward Industries is expected to hold equity in Superstate to better align interests and drive joint development of upcoming Superstate products. This partnership will expand the company's traditional equity by leveraging the Solana blockchain to enable 24/7 trading, real-time settlement, and enhanced global liquidity.
BitMine conducting $365 million private placement, funds to boost ETH holdings
According to PRNewswire, BitMine Immersion Technologies (NYSE AMERICAN: BMNR) is conducting a registered private placement of $365.24 million.
The company is selling approximately 5.22 million shares of common stock at $70 per share, representing a premium of about 14% over the closing price on September 19. Additionally, it is issuing approximately 10.43 million warrants with an exercise price of $87.50 per share, expiring on March 22, 2027.
Thomas Lee, Chairman of BitMine, stated that proceeds from this financing will primarily be used to increase ETH holdings. The company has backing from prominent institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital, with the goal of acquiring 5% of ETH.
If all warrants are exercised in cash, it would generate an additional ~$913 million, bringing total potential proceeds to ~$1.28 billion. The transaction is expected to close on September 23, with Moelis & Company LLC serving as the exclusive placement agent.
BNB treasury company CEA Industries submits $500 million PIPE registration statement to regulators
CEA Industries Inc., a BNB treasury company, disclosed that it has submitted a registration statement to regulators for a planned $500 million PIPE (Private Investment in Public Equity) financing.
Market Data
Suggested Reading
Why did Perp DEX suddenly become so popular?
This article explores how the surge in popularity of Perp DEX stems from its “neutral exchange” characteristics—sitting between decentralization and centralization, optimizing user experience while innovating in asset security and transparency. Newer Perp DEX platforms like Hyperliquid offer efficient trading experiences but face controversy over limited validator nodes and partially centralized operations. Competition among perpetual DEXs is intensifying, potentially leading to a winner-takes-all scenario where dominant platforms monopolize liquidity while others fade away.
"I'm a weird kid": The prison confession of a teenage crypto hacker
This article details the criminal career of teenage hacker Noah Urban and his impact on cryptocurrency and cybersecurity. Through social engineering and SIM-swapping scams, he stole millions of dollars and became a key member of the notorious “Scattered Spider” group. The piece chronicles his crimes, arrest, and eventual sentencing, while also examining the societal implications of youth cybercrime and challenges for law enforcement.
Messari Report: What's still missing before prediction markets truly explode?
This article dives into the rapid growth of prediction markets—from elections to anything you can bet on—demonstrating strong product-market fit. Industry leaders like Polymarket and Kalshi have validated demand through rising liquidity and trading volume, attracting significant investor interest. Prediction markets are expanding beyond elections into innovative formats such as information perpetuals and social applications, improving UX to draw in retail speculators. Despite a surge in projects, liquidity and trading volume remain critical hurdles.
Vitalik's latest article: Low-risk DeFi is to Ethereum what search is to Google
This article discusses the importance of low-risk DeFi within the Ethereum ecosystem, arguing that its significance to Ethereum is akin to that of search for Google. Low-risk DeFi can economically sustain the Ethereum ecosystem while aligning with community culture and values. It also analyzes past DeFi challenges, current value, and future potential.
IOSG Weekly Brief｜Rebuilding Ten AirTM: The Outlook for Stablecoin Crypto Payments #294
This article discusses stablecoins as a killer application in crypto, exploring trends in the payment tech stack, investment frameworks, and potential opportunities at the intersection of blockchain and stablecoin payments. It analyzes key technical features of stablecoins, market dynamics, and their broad applications in cross-border payments, enterprise use cases, and personal consumption. It also touches on AI-driven on-chain payment paradigms and the potential impact of stablecoin credit cards on traditional banking systems.
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