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HyperEVM perpetual contract exchange Papertrade is scheduled to open trading at 10 AM Eastern Time on October 10. According to DefiLlama data, it has accumulated approximately $85.3 million in deposits before its launch. The platform supports up to 1000x leverage, and traders do not match with counterparties but trade directly with the protocol's own liquidity pool. Papertrade stated in the announcement that website trading will start after the HyperEVM upgrade is completed, and deposits will be paused at 9:45 AM to prioritize trading; users need to deposit in advance to participate in the launch.The contracts on Papertrade use the midpoint of Hyperliquid's optimal buy and sell prices as the opening and closing price, with positions being synthetic trades against its liquidity pool, and there are no corresponding perpetual contracts on Hyperliquid. This design eliminates funding rates and reduces profits from closing positions through asymmetric impact discounts instead of charging fees based on position size. When the liquidity pool cannot cover profitable trades, unpaid profits will convert to queued debt, filled by subsequent traders' losses. Its PAPER token grants losing traders the right to claim related earnings from the liquidity pool, with an initial supply of zero, minted from realized losses, with no team or venture capital shares.In the initial phase of the launch, Papertrade will only open trading through the frontend and approved trading relays, and direct access to public contracts will not be supported. Platform administrators can pause new positions, freeze the market, and adjust fee parameters, with a 7-day time lock for contract upgrades. Initially, the PAPER token will only support staking and unstaking, and wallet-to-wallet transfers will not be supported;

According to Catcher Predict monitoring, in the market prediction event on Polymarket for "Valorant: Paper Rex vs LOUD - VCT Championship Playoffs," the "Paper Rex" option in the sub-market "Match Winner" has experienced drastic fluctuations in win rate, plummeting from 62.5% an hour ago to the current 22.5% (a fluctuation of 40%). Please note the impact of related breaking news.

Tom Lee, Chairman of the Ethereum treasury company BitMine, stated that although the market has been cautious recently, the fundamentals of the S&P 500 are improving, and the index valuation has actually declined. Fundstrat expects that the earnings growth rate of S&P 500 constituents in the third quarter may approach 30%, and the earnings per share (EPS) forecast for 2027 has been raised by more than 20% since the beginning of the year.Tom Lee pointed out that the S&P 500 index's increase is lower than the upward adjustment of earnings expectations, which means that the market valuation multiple is actually declining. He also believes that high oil prices may strengthen the U.S. economy through energy exports, while the leading performance of technology stocks and the cryptocurrency market indicates that the market is betting on weaker inflation in the future.

According to The Defiant, the Bitcoin wallet Xverse has completed a round of strategic financing, led by Draper Associates under Tim Draper, with participation from Trust Machines and Draper Dragon.The specific terms of this financing round have not been disclosed, and Xverse has not announced its financing amount or valuation.

According to The Block, Lloyds Bank's tenth annual financial institution sentiment survey shows that 71% of senior executives at large financial institutions in the UK expect tokenization to reshape the financial services industry.The survey indicates that faster payment and settlement speeds are the most frequently mentioned advantages of tokenization by respondents, followed by collateral and liquidity management.

The perpetual contract trading platform based on Hyperliquid technology, papertrade.xyz, announced that it will officially launch on October 10, 2026.

According to Gate market data, U.S. stocks opened with the Dow Jones down 0.1%, the S&P 500 index up 0.13%, and the Nasdaq up 0.3%. Biopharmaceutical company uniQure fell 39% due to its Huntington's disease gene therapy's 48-month data not reaching statistical significance.Summit Therapeutics rose 19.2% after AstraZeneca proposed to invest $2 billion in collaboration to develop cancer drugs.

According to Catcher Predict monitoring on-chain data, it predicts significant capital movements in the Polymarket market. A large whale invested $55,027.76 in the "Valorant: G2 Esports vs. Paper Rex - VCT Championship Group C" event, specifically on "Map 2 Winner." Based on the current transaction price, the latest corresponding winning probability for this target is 49%.

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), stated at the SIFMA Digital Assets Conference that regulators should reconsider traditional financial monitoring methods, shifting from "collecting more data" to utilizing new technologies for more precise verification.Peirce mentioned that technologies like zero-knowledge proofs can verify whether users meet requirements such as age, citizenship, accredited investor status, or sanctions lists without disclosing underlying personal information like names, income, or addresses.Hester Peirce suggested that the federal government and regulatory agencies adopt attribute-based verification when technically feasible and allow registered entities to rely more on third-party identity verification to reduce the redundant collection and storage of sensitive information.Peirce also stated that public blockchains have permanent, public, and auditable transaction records, and combined with blockchain forensic tools, they are expected to enhance the ability to track illegal activities while reducing unnecessary data collection.

According to Catcher Predict monitoring, in the market prediction on Polymarket for the event "Valorant: Team Liquid vs Paper Rex - VCT Championship Group C," the option "Team Liquid" in the sub-market "Match Winner" has experienced a drastic fluctuation in win probability, dropping from 42.5% an hour ago to the current 17.5% (a fluctuation of 25%). Please note the impact of related breaking news.

According to Bitcoin Magazine, BitGo's CEO Mike Belshe stated in an interview on Bitcoin Magazine's BMTV that the core of tokenization is not trading, but rather expanding access.He pointed out that the current financial system can be traced back to the paper stock certificate crisis of the 1960s, when the New York Stock Exchange had to halt trading every week to complete physical stock deliveries, and the framework built to solve this problem still primarily serves large institutions.Belshe believes that the inability of retail investors to borrow against assets and the necessity to sell assets is a key reason driving the K-shaped economic divergence. He discussed how "phantom stocks" and tokenized stocks could change this situation and mentioned that long-term confidence of holders can be demonstrated through proof of reserves and setting time locks for shares.The interview also covered the new centralized risks that may arise from custodial concentration, how multi-signature and MPC can eliminate single points of failure, the aspects that still need to be supplemented in the U.S. regulatory framework beyond clarity, and the role of AI agents in asset management. Belshe also explained the true meaning behind his previous comments about the dollar going to zero.

BlackRock released a white paper titled "Machine Native Economy: How Digital Assets Connect Intelligence, Business, and Computing." The white paper points out that the extraordinary growth of AI is a defining technological theme, and digital assets represent a parallel financial infrastructure, where both intersect in the interaction between AI systems and economic networks. AI is machine-native intelligence, and digital assets are machine-native currency. Agent-based AI uses blockchain as programmable infrastructure, connecting intelligence with economic activities and extending AI to real-world actions such as purchasing and trading.The white paper lists three overlapping areas: LLM and blockchain share similar tokenization, with the former encoding language into numerical values and the latter tokenizing economic value for machine-verifiable transfer and settlement; agent-based commerce requires machine-native payment rails, with stablecoins, native crypto assets, and on-chain assets serving as tools, while traditional rails have limitations in low-value programmable transactions around the clock; computing becomes the digital asset market, with hyperscale cloud revenue expected to exceed $1 trillion annually by 2030, and standardized computing power claims can serve as financing and programmable settlement use cases.

SEC Commissioner Hester Peirce and SEC Crypto Working Group Chief Legal Counsel Taylor Lindman stated in a joint interview that, under the SEC's new innovation exemption, the first tokenized stock trading venues could begin to take shape as early as next quarter. Lindman mentioned that institutions expect companies to release the required notices outlining their operational plans in the coming months, which will be the first public indication of which companies intend to enter the new market. He believes there will be a lag from the announcement to the first companies submitting their notices, possibly at some point next quarter.Last week, the SEC issued a five-year conditional exemption allowing eligible platforms to facilitate the licensed trading of tokenized versions of U.S. listed stocks on public permissionless blockchains through automated market makers and liquidity pools. This relief has taken effect, but venues must issue notices and outline operations, and notify the SEC within one business day after the announcement. Lindman described this model as more on-chain finance rather than DeFi, with each venue having a designated individual or entity responsible for operations and compliance with the exemption conditions.Peirce responded to industry concerns about limits on the number of stocks and trading volumes, stating that the limits are high enough for companies to operate feasibly. She views the restrictions as an iterative approach to bringing tokenized stocks into regulated markets, with the five-year relief not being permanent but rather a bridge to long-term rules. Another potential constraint is the issuer veto right: venues must give listed companies 30 days to object before offering tokenized versions of their stocks created by non-affiliated third parties. Peirce does not expect widespread objections.

According to Bitcoin Magazine, billionaire investor and founder of Draper Associates Tim Draper stated on the Bitcoin Magazine podcast that government spending has not slowed down, which will only lead to two outcomes: hyperinflation or interest rates high enough to collapse banks. He believes that it is "irresponsible" for companies like Apple and Meta not to hold Bitcoin on their balance sheets.Draper suggested in the program that every business should hold at least the equivalent of four weeks of operating expenses in Bitcoin, each individual should hold about six months' worth of Bitcoin reserves, and every government should also hold Bitcoin as a hedge. He further explained that when banks holding cash fail, not having any Bitcoin on the board will expose legal and financial risks.Additionally, Draper linked his $250,000 Bitcoin price target to the next halving event and the subsequent supply shock.

AI Agent Onchain Operating System (AI Agent Onchain OS) X-Agent has released its latest white paper, which introduces its product architecture, MCP ecosystem, business model, and application scenarios of $XAGT.The white paper points out that the next stage of the AI industry is not just about generating text, images, or code, but about enabling Agents to understand user intentions, invoke tools, execute tasks, and complete transactions. Centered around the concept of "Speak to Build, Share to Connect," X-Agent allows users to create AI Agents with context, memory, skills, API, and wallet connection capabilities through natural language, without the need to write code.In terms of business model, X-Agent aims to establish a complete link for Agent creation, MCP capability access, distribution, payment, and monetization. Developers can package APIs, data, and professional services as MCP capabilities and earn income through per-call, subscription, or transaction commission.The $XAGT token is planned to be used for computing fees in secure operating environments, LLM and API calls, Agent transaction settlements, MCP service payments, Premium Agent template purchases, and developer deployments. In the future, it will also expand to scenarios such as service staking, multi-Agent settlements, and ecological governance.According to the project team, X-Agent currently has over 1 million registered users, has completed more than 1.1 million autonomous tasks, and the consumption of LLM Tokens has exceeded 84 billion. In the future, the project will also promote Super-Agent, enterprise sandbox, decentralized Agent Store, and multi-Agent collaboration systems.Through this white paper, X-Agent hopes to further clarify its long-term direction: to enable anyone to create Agents through language, allowing Agents to truly possess the capabilities for execution, distribution, payment, and continuous commercialization.

Regarding the Federal Reserve's decision to raise interest rates by 25 basis points as expected in the September meeting, Huobi HTX Chief Analyst Andy pointed out that what truly deserves attention is the comprehensive hawkish shift in the Federal Reserve's stance. All 12 officials rarely supported the decision unanimously, and the dot plot clearly indicates another rate hike within the year, with tightening becoming a consensus.The core message conveyed by the meeting is that the Federal Reserve is determined to rebuild its credibility against inflation at all costs. The economic forecast summary raised growth expectations and lowered the unemployment rate, reflecting confidence in a soft landing; however, the path for core inflation to decline has been significantly delayed, indicating that the higher-ups have accepted the reality of "higher for longer." Chairman Waller's statement is particularly crucial, placing anti-inflation efforts as an absolute priority. Even though the current economic fundamentals are robust and oil price fluctuations are supply-side factors, the Fed still chooses to respond with a tightening stance. This "better to be too tight than too loose" position has temporarily pushed up U.S. Treasury yields and the dollar, while suppressing gold.For the cryptocurrency market, uncertainty has actually decreased. A clearer policy path helps compress risk premiums, which is not a bad thing for risk assets in the medium to long term. The key going forward lies in data validation: if employment and growth remain strong, rate hikes may continue but at a slower pace; if the economy shows cracks, there is still room for a policy shift. Overall, the Federal Reserve is trading short-term pain for long-term policy credibility.

Federal Reserve Chairman Waller stated that the employment aspect of the Federal Reserve's responsibilities is currently in good shape.