Hyperliquid Flags 100x Underreported Liquidations as Strategy Buys 220 BTC for $27M Before Market Crash

BitMine Buys 202,037 ETH Amid $19B Market Crash, Holdings Now Top 3 Million ETH Worth $13.4B, Signals Strong Institutional Confidence

BitMine, the world’s largest corporate Ether holder, took advantage of the recent crypto market crash to significantly increase its ETH holdings. The company purchased 202,037 ETH over the weekend, spending around $827 million, bringing its total Ether holdings to over 3 million ETH, or 2.5% of the total supply. BitMine’s total portfolio is now valued at $13.4 billion, including Bitcoin, cash, and equity stakes. The company said these purchases bring it “halfway” toward its goal of acquiring 5% of ETH, signaling strong institutional confidence in Ethereum. Despite a recent 11% drop in BitMine’s stock after a short position from Kerrisdale Capital, trading volume remains high.

Morgan Stanley Opens Crypto Access to All Clients Starting October 15

Morgan Stanley will make digital asset investments available to all clients—including those with retirement accounts—beginning October 15, according to CNBC. Until now, only high-net-worth individuals were eligible. The move follows years of gradual expansion into crypto: in 2021 the bank opened Bitcoin funds to wealthy clients, and in 2024 it allowed advisors to promote Bitcoin ETFs. CEO Ted Pick said earlier this year the firm was working with regulators to offer crypto safely. In September, Morgan Stanley partnered with Zerohash to enable Bitcoin, Ethereum and Solana trading through its E*Trade platform, with wallet services under consideration. The shift comes amid growing institutional adoption since the approval of Bitcoin and Ethereum ETFs and a more favorable U.S. regulatory environment under President Trump.

Canary Capital Updates XRP and Solana ETF Filings, Cuts Fees to 0.50% as SEC Approval Nears

Canary Capital has filed updates to its registration statements for two spot crypto ETFs—one for Solana and one for XRP—as it moves closer to SEC approval. The amendments, submitted Friday, set a 0.50% fee for both products. The Canary Marinade SOL ETF includes staking but does not share staking rewards with investors. Bloomberg’s Eric Balchunas noted this is the sixth amendment, signaling advanced progress in the approval process. Bitwise recently set a lower 0.20% fee for its rival Solana staking ETF.

Canary previously listed a higher 0.95% sponsor fee for its HBAR and Litecoin ETFs, indicating a broad downward shift in fee structures as competition intensifies. Multiple firms are awaiting approval for ETFs tied to assets like DOGE and LTC following a regulatory pivot under President Trump. The SEC, now led by crypto-friendly appointee Paul Atkins, has adopted new listing standards that allow many crypto ETFs to bypass the longer 19b-4 approval process—potentially accelerating launches.

Recent shutdown-related deadlines for the 19b-4 process have passed, leaving the focus on registration statements, which do not carry fixed timelines. Industry sources suggest the SEC may batch approvals for single-asset crypto ETFs in the coming weeks.

Hacker Steals $21 Million From Hyperliquid User After Private Key Leak

A Hyperliquid user lost $21 million in crypto after their private key was compromised, according to security firm PeckShield. The attacker gained full control of the wallet and moved the stolen funds— including $17.75 million in DAI—to Ethereum. There was no smart contract exploit involved, indicating a direct key exposure.

Cyvers CEO Deddy Lavid said the breach likely originated from phishing, malware, or unencrypted seed storage. He emphasized using hardware wallets, keeping backups offline, and avoiding online key input to prevent similar attacks. The incident serves as a sharp reminder of individual security risks in decentralized finance.

The theft comes as Hyperliquid, a leading decentralized exchange for perpetual futures, faces rising competition from newcomer Aster. Market conditions have also turned bearish: following tariff threats from President Donald Trump, Bitcoin dipped below $119,000, while Ethereum and Solana dropped nearly 5%. Hyperliquid’s HYPE token has fallen 22% in the past month and now trades under $43, placing it 20th by market cap at $11.6 billion. Users see less than a 27% chance of it reclaiming its $69 high before dropping to $39, with sentiment weakening over the past week.

Hyperliquid Warns Binance and Other CEXs May Underreport Liquidations by Up to 100x After $19.1B Friday Crypto Crash

Hyperliquid co-founder Jeff Yan warned that some centralized exchanges, including Binance, may significantly underreport liquidation data during volatile periods. Yan noted that exchanges often report only one liquidation per second, even when thousands occur simultaneously, potentially undercounting real liquidations by up to 100 times. His comments followed a record $19.1 billion in liquidations on Friday, affecting over 1.6 million crypto traders. Coinglass, a crypto derivatives data aggregator, confirmed the reported figures are likely much lower than the true total.

Strategy Buys 220 BTC for $27M at $123.5K Average Before Friday Crash, Holdings Rise to 640,250 BTC Worth $73B

Strategy, the largest corporate holder of Bitcoin, disclosed that it bought 220 BTC for $27 million last week at an average price of $123,500 — a level near Bitcoin’s recent all-time high rather than the sharp dip that followed on Friday. The purchase was the firm’s third-smallest this year but still pushed its overall average cost basis above $74,000. Strategy now holds 640,250 BTC worth roughly $73 billion.

The acquisition was funded by selling three preferred share classes — $1.7M in STRK, $17.1M in STRF and $6.9M in STRD — rather than issuing new common stock. Bitcoin hovered near $115,000 on Monday after briefly dropping below $110,000 during last week’s market selloff, which was triggered by U.S.–China trade tension. While BTC is down 8% on the week, altcoins saw deeper losses. Strategy’s stock price has fallen 15% over the past five trading days but edged up slightly Monday.