Odaily News Hong Kong Legislative Council Member for the Technology and Innovation Sector, Duncan Chiu, has released a policy proposal titled "The '3+3 Synergistic Development Blueprint' - Hong Kong's Innovative Path to Integrating into the Nation's Future Industries." The proposal recommends that the Hong Kong Securities and Futures Commission (SFC) establish an independent department dedicated to digital assets, and sets a goal of positioning Hong Kong as an international digital asset hub by 2032. The blueprint also includes building early-stage investment channels for Web3 finance, exploring the establishment of a "Hong Kong-style Web3 Pinksheet" over-the-counter fundraising mechanism, and promoting the tokenization of real-world assets (RWA) and tokenized stocks.
Odaily News – The Algorand Foundation has appointed William Herkelrath as Chief Executive Officer, who officially succeeded Staci Warden on August 31 after her nearly five-year tenure. Herkelrath previously worked at blockchain oracle project Chainlink and crypto custody company Curv, and most recently co-founded AI automation platform K3 Labs. He will be responsible for driving Algorand's expansion into institutional finance and strengthening its technical efforts to address potential threats from quantum computing. Herkelrath stated that Algorand's quantum-resistant accounts are already in active use, and that this capability is not merely at the roadmap stage. Algorand has added post-quantum signature support in its v42 consensus upgrade, with accounts employing the Falcon-1024 signature system based on lattice cryptography. Additionally, Herkelrath and Alex Fowler, Chief Strategy Officer at Nexus Laboratories, will join the board of directors, while Rebecca Rettig and Michael Mosier will be stepping down.
Odaily News - Renzo Protocol has rebranded to Renzo Finance and expanded into the field of on-chain structured yield products, with its first product, Renzo Basis, now live on Hyperliquid. This product automates basis trading strategies by simultaneously holding both spot long positions and perpetual contract short positions, allowing users to earn returns through funding rates. It initially supports BTC and HYPE, with plans to expand to all assets that have both spot and perpetual markets on Hyperliquid. Renzo founder Lucas Kozinski stated that Renzo Basis is fully on-chain, self-custodial, and customizable, enabling users to independently choose their assets and risk parameters.
Odaily Planet Daily News: AI wealth management company Savvy Wealth has completed a $100 million Series C funding round, led by Halo Fund, with participation from existing investors including Thrive Capital, Industry Ventures, and Index Ventures. The cumulative total funding has exceeded $200 million, and the valuation has risen to $600 million. The company manages $9 billion in client assets. Its AI platform, Savvy Intelligence, trains AI agents based on large language models from OpenAI and Anthropic, integrating investment, tax, and financial planning data to streamline wealth management processes. The new funds will primarily be used to expand software product development for wealth advisors. (Wealthmanagement)
Odaily News, according to on-chain analyst Ember's monitoring, an address purchased 919.4 LAPTOP tokens at $217.5 each roughly 55 minutes ago, spending about 200,000 USDC.
Just about 50 minutes later, the price of LAPTOP had dropped to $4.4. The address's holdings shrank by 98% to approximately $4,045, with unrealized losses of about $196,000—making it one of the heaviest-loss addresses known on LAPTOP so far.
Odaily Planet Daily News According to GMGN data, Hunter Biden's Meme coin LAPTOP briefly fell below $5, down approximately 97% from its post-launch price high.
Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.
Odaily News - According to monitoring by crypto trader Rune, an unusual transaction involving LAPTOP tokens has been detected. A new wallet (0x8DA...A18d) claimed 4,276 LAPTOP tokens for free and subsequently sold them, cashing out approximately $400,000.
More notably, the wallet then transferred 0.02 ETH to another new wallet (0xc27...b591), which likewise claimed 4,276 LAPTOP tokens for free and immediately sold them after the price dropped due to the previous sell-off, cashing out approximately $200,000.
Both wallets are newly created addresses, claimed identical amounts, and the first wallet provided ETH to the second—highly correlated on-chain behavior that has prompted community speculation about potentially linked addresses or coordinated selling.
Odaily News: According to on-chain analyst Ai Yi's monitoring, Commander P (0xa50...282f) exited his full position 4 minutes ago, ultimately realizing a profit of $970,000, with a return rate of 387.4%. The buy price was $27.383, and the average sell price was $133.7. This address has been consistently active on the Base network, though its past trading performance on Base has been average.
Odaily News: Bonk Guy has issued a scathing critique of the token project associated with Hunter Biden's "LAPTOP," stating that after further observation of the token's performance following its launch, he believes the project clearly exhibits speculative behavior aimed at "extracting profit while showing little understanding of the crypto industry."
Bonk Guy particularly questioned the token's fully diluted valuation (FDV), which reportedly reached as high as hundreds of billions of dollars shortly after listing, calling the valuation "absolutely absurd." He also questioned why Hunter Biden himself has become the narrative centerpiece of the crypto market, pointing out that Hunter Biden's public prominence largely stems from the numerous controversies he sparked while his father, Joe Biden, served as President of the United States. He further noted that the Biden administration generally adopted a relatively tough regulatory stance toward the crypto industry during its tenure.
Bonk Guy concluded with a warning that investors purchasing this token at its current valuation face extremely high risks, stating that "anyone who buys it deserves to lose 100% of their money."
Odaily News: After the Biden-son Meme coin LAPTOP went live at 8 PM tonight, a whale invested $240,000 at the open, buying at a price of $24. They have since gradually sold off LAPTOP worth $1.2 million, realizing a profit of approximately $1 million.
Odaily News, according to GMGN data, the Meme coin LAPTOP launched by Hunter Biden continues to decline, with its market cap falling below $50 billion. It is now reported at $40.81 billion, down 43% in the last 5 minutes.
Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.
Odaily News: According to Onchain Lens monitoring, a trader bought 1.497 million PONS tokens over 9 days, spending approximately 378.23 ETH (around $936,000), and subsequently sold all of them, receiving approximately 473 ETH (around $1.17 million). The profit amounted to about 94.77 ETH (around $234,800), with a return rate of 25.06%.
Odaily News, the Hyperliquid Policy Center has filed an amicus brief with the U.S. District Court for the District of Columbia, seeking to dismiss the lawsuit filed by the Chicago Mercantile Exchange (CME) against the U.S. Commodity Futures Trading Commission (CFTC).
The lawsuit concerns the CFTC's prior approval of Kalshi to launch regulated cryptocurrency perpetual contracts in the United States. CME previously filed a lawsuit over the related regulatory decision, and in this instance, the Hyperliquid Policy Center is siding with the CFTC, arguing that the court should dismiss CME's lawsuit. (Hyperliquid News)
Odaily News According to GMGN data, the market cap of LAPTOP, the Meme coin launched by Hunter Biden, briefly fell below $80 billion, now reported at $75.05 billion, down 45.16% in 5 minutes.
Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.
Odaily reported that according to on-chain analyst Ai Yi's monitoring, an address purchased 9,124.19 LAPTOP at an average price of $27.383 immediately upon the token's launch, spending $250,000. It has since sold nearly 93% of its holdings at $140.48, securing a profit of over $1.04 million with a return rate of 415.8%, ranking first in profit for this token so far.
Odaily News – The Blockchain Association and the Innovative Crypto Council (CCI) have filed a motion for a preliminary injunction with the Circuit Court of Sangamon County, Illinois, seeking to halt the 0.2% digital asset franchise transaction tax scheduled to take effect on January 1, 2027, during the pendency of litigation. The tax applies to crypto entities established in Illinois or providing services to Illinois residents with annual gross revenues exceeding $100,000. The two lobbying groups had previously sued Illinois over the measure and, together with the Chamber of Digital Commerce, argue that the law violates the federal Internet Tax Freedom Act as well as the Due Process and Interstate Commerce clauses of the U.S. Constitution.
