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first_img American financial tycoon Don Wilson questions Hyperliquid's information priority, position transparency, and six other core issues

The founder and CEO of trading company DRW, Don Wilson, published an article raising several questions about the New York Stock Exchange's parent company's push to introduce the decentralized perpetual contract platform Hyperliquid to the U.S. market. He also expressed gratitude to CFTC Chairman Selig and the Trump administration for making such experiments possible and stated that only the market can determine whether an arrangement is useful.Don Wilson: What are the benefits of trading perpetual contracts on a regulated exchange in an on-chain manner? He believes the main advantage of on-chain trading is the reduction of friction in a trustless, identity-verification-free environment, or receiving the purchased assets in real-time through atomic transactions; however, perpetual contracts themselves are not assets, so the latter benefit does not apply.He also specifically mentioned Stan Druckenmiller, asking whether he is aware that positions and transactions on Hyperliquid can be tracked in real-time and whether he sees this as an advantage. Additionally, he noted that Hyperliquid's priority fee mechanism allows participants to pay to see information earlier or to move their orders ahead in the queue, and he inquired whether this aligns with CFTC core principles.Don Wilson further asked whether the liquidity of offshore order books can be merged with onshore order books; if not, whether listing perpetual contracts on regulated exchanges using traditional centralized order books is preferable to bearing the inefficiencies brought by on-chain matching.Previously, Intercontinental Exchange (ICE) and trade[XYZ] announced plans to deploy a perpetual contract market covering crypto assets, stocks, commodities, foreign exchange, and other physical assets for U.S. traders based on Hyperliquid infrastructure, pending regulatory approval, with ICE operating the regulated market and clearing framework.

SkyAI major shareholder questions the clearing of the SOL treasury and demands an increase in the offer price

According to GlobeNewswire, SkyAI's major shareholder Bastion Trading stated that it and its affiliates collectively hold about 9.99% of the company's common stock and require SkyAI's executive chairman and several directors to publicly explain the decision-making process for approving the liquidation of all SOL treasury and the cash tender offer.Bastion pointed out that SkyAI initiated the tender offer on October 16 and disclosed in subsequent documents that it had emptied all SOL treasury. A month ago, the company still stated that it would continue to adhere to the Solana DAT strategy and held over 2 million SOL. Bastion believes that the current tender offer price of $3 per share or for eligible warrants is too low and demands that it be raised to at least $3.50, and that the maximum acquisition ratio for pre-financing warrants be increased from 95% to 100%.Bastion also requested that the Strategic Advisor Warrants be excluded from the offer and that the securities and potential earnings held by directors, management, and affiliates be disclosed. It stated that if the relevant directors cannot prove they have fulfilled their independent oversight and fiduciary duties, they should voluntarily resign; otherwise, a special shareholders' meeting should be convened to allow shareholders to decide the future composition of the board.

Bitwise and Hyperliquid request the SEC to amend cryptocurrency regulations: focusing on token classification, airdrops, and secondary market trading

The asset management company Bitwise Asset Management and the Hyperliquid Policy Center submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), requesting modifications to the proposed cryptocurrency rules to clarify token classification, airdrops, and secondary market trading rules. The SEC's proposed Regulation Crypto Assets would establish exemptions for eligible cryptocurrency financing and provide a conditional safe harbor for tokens related to investment contracts.Bitwise requested clarification on the standards for investment managers to determine whether tokens are subject to securities laws. The Hyperliquid Policy Center called for an expansion of the safe harbor scope and clarification of the rules for airdrops and token buybacks that reward network participants. The organization also requested that the SEC clarify whether unregistered intermediaries can facilitate token trading and whether tokens can be freely traded through on-chain protocols. Former SEC enforcement official John Reed Stark and Duke University finance scholar Lee Reiners called for the proposal to be withdrawn, arguing that it exceeds the SEC's statutory authority and undermines investor protection. The SEC will decide to amend, adopt, or withdraw the rules after the public comment period ends, and the final rules must be voted on by the commission before taking effect.

Ledger users encounter physical letter scams, with forged notifications requesting registration for a Bitcoin wallet through ZenLedger

According to Bitcoin News monitoring, a German Ledger user @jayr_crypto reported receiving a forged letter again this week. The letter impersonates Ledger, claiming that new regulations require users to register their Bitcoin wallets through a service called ZenLedger by October 31. The letter uses Ledger's official branding elements and mentions German financial regulators, while also including a QR code that directs users to a so-called mandatory registration process.The user believes that addresses exposed in a previous data breach are being used for targeted attacks on Ledger users. In the same week, Ledger coordinated with MediaMarktSaturn to suspend the sale of its hardware wallets in a European retail network covering 11 countries and over 1,000 stores.Earlier reports indicated that malicious spy implants were found inside Ledger devices purchased from European retailers. Ledger confirmed separately that compromised devices sold by a Southeast Asian distributor contained implants capable of stealing recovery phrases and transmitting them over cellular networks. Ledger has not confirmed any breaches of devices in Europe. Ledger users are currently facing physical supply chain tampering and targeted phishing attacks initiated using home addresses. Do not scan suspicious QR codes or enter recovery phrases.
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