Today's news tips:
Binance Launches the 51st HODLer Airdrop Project Euler (EUL)
Hyperliquid to Launch HIP-3 Upgrade to Enable Permissionless Perpetual Contract Market Creation
Binance Wallet Launches its 40th Exclusive TGE: Lab (LAB)
Huaxing Capital is in talks to establish a $600 million fund to invest in BNB
Macro & Regulation
Foreign Ministry Spokesperson Lin Jian presided over a regular press conference. A reporter asked, "US President Trump stated that in response to China's export controls on rare earths and other related items, the United States will impose a 100% tariff on China." What is China's comment? Will China impose new tariffs on goods imported from the United States? Lin Jian responded that the Ministry of Commerce spokesperson has already clarified China's position on this matter. I would like to emphasize that in recent times, the United States has continued to impose a series of restrictions and sanctions on China, which have seriously harmed China's interests. China firmly opposes this. Lin Jian stated that instead of reflecting on its own mistakes, the United States has threatened high tariffs, which is not the right way to deal with China. China urges the United States to correct its wrongdoings as soon as possible, and to follow the important consensus reached during the call between the two presidents. On the basis of equality, respect, and mutual benefit, China should resolve its respective concerns through dialogue, properly manage differences, and maintain the stable, healthy, and sustainable development of China-US relations. Lin Jian pointed out that if the United States insists on its own way, China will resolutely take corresponding measures to safeguard its legitimate rights and interests.
Dubai launches financial sector reform plan, listing virtual assets as one of the three pillars
Dubai recently launched a comprehensive financial sector reform program aimed at propelling it toward becoming one of the world's top three financial centers. The Dubai Government Media Office stated that under the newly released "Dubai Financial Strategy," virtual assets, capital markets, and financial technology will become key pillars of Dubai's future economic growth. The Dubai government plans to leverage this financial sector reform program to accelerate the development of digital assets, which already enjoys a leading edge, and promote the transition from traditional finance to digital financial services.
The virtual asset industry, established three years ago under the UAE Virtual Assets Law, currently contributes approximately 0.5% of GDP, or AED 2.2 billion (US$ 600 million). Dubai aims to increase this contribution to approximately 3%, or AED 13 billion (US$ 3.5 billion), as the virtual asset ecosystem expands.
The Cyberspace Administration of China (CAC) today released the 20th batch of domestic blockchain information service registration numbers, in accordance with the "Regulations on the Administration of Blockchain Information Services." A total of 30 services have been approved for registration, covering a variety of areas including digital collectibles, anti-counterfeiting and traceability, digital real estate, and blockchain asset ownership confirmation. The registration entities are located in Jiangsu, Zhejiang, Guangdong, and Hainan, including Hongmeng (Hangzhou) Intellectual Property Management Co., Ltd.
Project News
Binance Launches the 51st HODLer Airdrop Project Euler (EUL)
Binance announced the 51st round of Euler (EUL) HODLer Airdrops. Users who subscribe BNB to Simple Earn (including flexible/locked) or On-Chain Yields between October 4, 2025, and October 6, 2025, will receive the airdrop. A total of 543,657 EUL will be distributed, representing 2% of the total supply. EUL will launch at 2:30 PM (UTC) on October 13, 2025, trading against USDT, USDC, BNB, FDUSD, and TRY. Deposits will open at 10:30 AM (UTC). The initial circulating supply will be 19,809,653 EUL (72.87%). Smart contracts are deployed on BSC, Ethereum, Base, and Arbitrum. Seed tags and a 4% BNB holding cap will be implemented. Alpha Market will delist the tokens simultaneously, allowing asset transfers to spot markets.
Binance Wallet Launches its 40th Exclusive TGE: Lab (LAB)
According to an official announcement, Binance Alpha will be the first platform to list the following project: the 40th Binance Wallet-exclusive TGE Lab (LAB). The subscription period will be from 4:00 PM to 6:00 PM (UTC+8) on October 14, 2025. Eligible users must use Binance Alpha Points to participate.
In addition, Whitebridge Network (WBAI) and Recall (RECALL) will be airdropped on October 15th, and October 15th, respectively. Eligible users can claim the airdrops using Binance Alpha Points on the Alpha event page after Alpha trading opens.
China Renaissance Bank (Huaxing Capital) is in talks with investors to raise approximately US$600 million and plans to establish a special investment vehicle to invest in BNB. YZI Labs is expected to participate in the project.
Akash Network founder Greg Osuri announced that the project will deprecate its proprietary Cosmos SDK chain and migrate to a new network that "secures Akash," aiming to maintain IBC compatibility. The team has not announced a timeline, but will publicly evaluate chain candidates, emphasizing strong security, a high-quality community, deep liquidity, and growth potential, while retaining integrations with Osmosis, Keplr, and others. Osuri stated that the staking mechanism will "evolve to a better one" and will not be limited to consensus security. A RFP will be released within weeks, with Solana being cited as a "strong candidate."
Recall (RECALL) will be available on Binance Alpha and Binance Futures
According to an official announcement, Binance Alpha will launch and open trading for Recall (RECALL) at 8:00 PM (GMT+8) on October 15, 2025. Additionally, Binance Futures will launch RECALL USDT perpetual contracts at 8:30 PM (GMT+8) on October 15, 2025, with up to 50x leverage.
All eligible Binance users will receive an exclusive Binance token airdrop. Eligible users can claim the airdrop using Binance Alpha Points from 8:00 PM (GMT+8) on October 15, 2025, to 8:00 PM (GMT+8) on October 16, 2025, via the Binance Alpha event page.
Coral Finance (CORL) listed on Binance Alpha
Binance: Eyieldbasis (YB) Prime Sale: Participation threshold is 144 Alpha Points
The USST line launched by STBL, a stablecoin project under Tether Lianchuang, continues to decouple
GRVT increased the total community airdrop share from 20% to 22%
Hybrid crypto exchange GRVT announced adjustments to its Grvt airdrop allocation on the X platform: The total community airdrop share will be increased to 22% (up from 20%), with 10% reserved for early adopters in the first quarter. In the second quarter, the airdrop pool will be increased to 12% to accommodate new users without diluting existing users. GRVT emphasized that the target date for the Token Generation Event (TGE) is the first quarter of 2026.
Hyperliquid to Launch HIP-3 Upgrade to Enable Permissionless Perpetual Contract Market Creation
According to The Block, Hyperliquid expects to activate a major protocol upgrade, HIP-3, later today. This upgrade will support the permissionless creation of perpetual futures markets. A Hyperliquid administrator announced in the protocol's Discord channel that the October 13th network upgrade will include the implementation of HIP-3. The administrator stated, "HIP-3 will be enabled during this network upgrade. There will be no immediate changes for users. Deployers who meet the on-chain requirements will be able to deploy perpetual contracts for trading once they are ready."
In a previously disclosed document, the project announced that HIP-3 (Hyperliquid Improvement Proposal 3) will support developer-deployed perpetual contracts, marking a "key milestone in achieving full decentralization of the perpetual contract listing process." According to the document, HIP-3 will allow deployers to permissionlessly launch a perpetual contract DEX on HyperCore by simply staking 500,000 HYPE tokens. HIP-3 integrates with the HyperEVM to enable smart contracts and governance, and includes safeguards such as validator slashing and position limits.
Crypto mining firm NetBrands to establish $100 million digital asset treasury
NetBrands, a cryptocurrency mining company currently listed on the U.S. OTC market, announced that it will launch a "tiered" digital asset treasury. The treasury will use BTC as a long-term reserve asset and retain the mined Bitcoin to the greatest extent possible. It will also invest in ETH and AAVE and explore the use of these two cryptocurrencies to obtain additional returns such as staking. It is reported that the initial capital of the treasury is US$10 million, and the overall scale target is US$100 million.
Financing News
According to Fintech Futures, Argentina-based crypto fintech company Lemon has secured $20 million in Series B funding led by F-Prime and ParaFi, with participation from DRW Venture Capital, Van Eck, Persea VC, Alumni Ventures, and Lambda Class. The platform plans to expand into Latin American markets, including Colombia and Mexico, with the goal of increasing its user base from 5 million to 10 million within the next 12 months.
Founded in 2019, Lemon provides digital asset trading, payment, and Visa crypto debit card services. This round of funding brings its total funding to $66 million. The platform projects it will process $9.3 billion in transactions and over $160 billion in user assets under custody by 2025.
Characters' Viewpoints
Garrett Jin, a whale who previously sold over $4.23 billion worth of BTC to switch to ETH, posted on the X platform: "Thank you Changpeng Zhao for sharing my personal information. To clarify, I have no relationship with the Trump family or Trump Jr. - this is not insider trading. The funds are not mine, but my clients'. We run nodes and provide them with inside insights.
OKX CEO: USDe should not be considered a stablecoin, it is a tokenized hedge fund
OKX CEO Star wrote on the X platform: "USDe should not be viewed as a stablecoin pegged 1:1 to the US dollar – it is a tokenized hedge fund. These funds often employ relatively low-risk strategies, such as delta-neutral basis trades or money market investments, but they still carry inherent risks – including auto-deleveraging (ADL) events, exchange-related incidents, and custodian security breaches. Calling USDe a 'stablecoin' or describing the recent market volatility as 'depegging' is inaccurate. Tokenized hedge funds were not designed to maintain a strict peg to the US dollar. If any exchange decides to include USDe in its collateral framework, it must implement strong and dynamic risk mitigation controls. Simply treating USDe as a 1:1 stable asset could pose systemic risks to the entire crypto industry in the future."
Important data
According to CoinShares' latest weekly data, digital asset investment products saw net inflows of $3.17 billion last week, bringing the total year-to-date inflows to $48.7 billion. Total assets under management fell 7% to $242 billion, impacted by news of US tariffs on China. ETP trading volume reached a record $53 billion for the week, with $15.3 billion seen on Friday alone. Bitcoin saw inflows of $2.67 billion for the week, bringing the total year-to-date to $30.2 billion. Ethereum saw inflows of $338 million this week, but saw a net outflow of $172 million on Friday. Solver and XRP saw inflows of $93.3 million and $61.6 million, respectively, driven by expectations of a slowdown in US ETFs.
The Smarter Web Company increased its holdings by 100 BTC, bringing its total holdings to 2,650.
The Smarter Web Company, a British Bitcoin treasury company, disclosed that it spent £9,076,366 to increase its holdings of 100 BTC, bringing its total Bitcoin holdings to 2,650, worth approximately £219,570,133. The Bitcoin return rate since the beginning of the year has reached 57,718%, and the company's BTC return rate so far this quarter has reached 0.58%.
MARA Holdings purchased another 400 BTC, worth approximately $46.31 million
Crypto funding rates have fallen to their lowest point since the 2022 crash
A hacker bought 9,191.7 ETH worth $38.13 million from four addresses this morning.
