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Hunter Biden, son of former US President Joe Biden, released a full accounting of the memecoin he helped launch last month based on the reports of his infamous laptop.In a series of X posts on Wednesday, Biden provided blockchain data confirming that 300 million tokens in wallets associated with the founders of the $LAPTOP memecoin “haven’t moved since launch.” Biden added that charts tracking the price of the memecoin “looked like every celebrity rug ever” shortly after launch on Sept. 9, and the ones to benefit most were unnamed market makers — referred to as “two professional trading firms” hired by the project — that pulled their funds seconds after the peak price of about $317. According to Biden’s posts, one market maker made $686,000 from liquidity positions on decentralized exchanges, while the other “took in about $2.18 million more than it spent“ through trading.Similar data was published in a “launch report” prepared by Delaware-based intelligence consultancy Groom Lake and posted on the memecoin’s website.“The money for sellers was pulled right after the peak,” said the report on $LAPTOP. “Eighty-four seconds after the price topped out, Market Maker 1 withdrew its money. The cash available to people trying to sell near the current price dropped from $16,157 to zero.”Biden added:“Here’s why I did this. Trump’s coin was max extraction, and I wanted to troll every grift like it. So we were transparent, committed the team to a lock up and published a MiCA disclosure. And I hoped it could help some charities I care about too.”Data on Hunter Biden memecoin. Source: laptoptoken.comWhile Biden said he intended to commit 5% of the tokens for charity, he added that he was incentivized to continue the project “just to piss off Don and Eric,” referring to Donald Trump Jr. and Eric Trump, sons of US President Donald Trump, and “every [Key Opinion Leader] who called it a scam because we refused to pay them.” The basis for the memecoin’s namesake is Biden’s laptop computer, whose existence and contents were subject to intense media scrutiny ahead of the 2020 US Presidential election, in which Trump was running against his father. The laptop continues to be invoked by many right-wing figures and was the subject of two lawsuits filed by Biden over privacy laws.Related: Hunter Biden’s laptop controversy gets a memecoin afterlifeBiden has been a vocal critic of the Trump family crypto company World Liberty Financial, calling it “corruption at a scale we’ve never seen” in August. The president also faces criticism for launching his memecoin, Official Trump (TRUMP) shortly before taking office in January 2025, which faces its own rug pull and corruption accusations.According to Biden, the $LAPTOP founder memecoins will remain locked for six months after launch and the team will continue burning unclaimed tokens from airdrops.President to host another memecoin event amid controversyBiden’s token, whether launched to hold up a mirror for rug pull projects, a joke, or trolling the Trump family, could shine a spotlight on the president’s crypto ventures as he prepares to speak at another event for his memecoin holders. Last week, the group behind the $TRUMP memecoin announced that the president will appear at his gold club in Washington, DC alongside three unnamed speakers and the top 185 tokenholders for a Nov. 22 dinner. The nonprofit consumer advocacy organization Public Citizen estimated that $TRUMP memecoin investors lost $3.2 billion since its 2025 launch.Magazine: Capital starting to rotate back to crypto from AI: Raoul Pal

Sui’s programmable offchain tunnels reached 40.6 million transactions per second in a live test designed to simulate high-frequency activity between AI agents.Sui said its programmable offchain tunnels processed more than 40 million transactions per second during a live stress test, surpassing a previous record set in July. The test, conducted Wednesday at Sui Basecamp in Singapore, peaked at 40,614,180 TPS, up from about 6.1 million TPS in a similar test in July.The transactions were processed offchain through Sui tunnels, programmable channels that settle to the Sui blockchain when closed. More than 10,000 tunnels were opened on Sui mainnet during the test, with activity spanning payments, games and chat applications.Source: SUI NetworkSui said the tunnels are designed to handle high-frequency activity, including interactions between AI agents, without requiring every transaction to be processed directly onchain.“Sui is built for the moment when millions of AI agents are transacting every day,” said Adeniyi Abiodun, co-founder and chief product officer at Mysten Labs, the original contributor to Sui. He added:No market in the world needs 6 million transactions per second, let alone 40 million: people just don’t move that fast. Agents do.CertiK served as an independent auditor during the demonstration and is reviewing the test data, with a report expected in the coming days.Magazine: Capital starting to rotate back to crypto from AI: Raoul PalCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Tether has signed an agreement with Kazakhstan’s central bank and the Alatau City Authority to explore a tenge-pegged stablecoin and the tokenization of real-world assets.Under the memorandum of understanding, the parties will study international stablecoin issuance models, identify potential use cases and develop a proposal for a tenge-backed stablecoin pilot, according to Tether.The agreement also calls for the development of an asset tokenization framework, including identifying assets for potential tokenization and launching a pilot project in Alatau that could use Tether’s Hadron platform.Tether, the National Bank of Kazakhstan and the Alatau City Authority will also hold workshops and training programs covering stablecoin issuance, reserve management and real-world asset tokenization.National Bank of Kazakhstan Deputy Governor Binur Zhalenov said the central bank plans to study international approaches to stablecoin issuance and tokenization while prioritizing financial stability, transaction transparency and investor protection.Related: Balaji’s Network School turns to Kazakhstan amid Malaysia setbackKazakhstan expands digital asset pushKazakhstan, the world’s largest landlocked country, has accelerated its push into digital assets this year, rolling out initiatives including stablecoins, tokenization, crypto payments and mining.In September, the government approved a 65-measure plan across 10 areas aimed at developing the country’s digital asset industry. The plan includes measures to expand real-world asset tokenization, digital payments, international settlements and crypto mining.The government also instructed the Energy and Digital ministries to develop a mechanism for using gas- and coal-fired power generation to supply mining centers. Kazakhstan ranked among the world’s top 10 countries for Bitcoin production in 2025, according to the government.Kazakhstan’s National Strategic Crypto Reserve, meanwhile, has reached $700 million, while 34 digital asset projects have completed testing in the central bank’s regulatory sandbox, according to the announcement.BitcoinTreasuries.net ranks Kazakhstan seventh among governments in its database for Bitcoin holdings, with an estimated 3,544 BTC worth about $294 million.Source: BitcoinTreasuries.NETMagazine: Capital starting to rotate back to crypto from AI: Raoul Pal

Representative French Hill, who chairs the House Financial Services Committee, said that though US financial regulators were moving forward with addressing digital assets, their actions lacked the long-term stability of legislation from Congress. In a Wednesday Fox Business interview, the Arkansas lawmaker said the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) had taken steps to address crypto regulations after the US Senate failed to pass the Digital Asset Market Clarity (CLARITY) Act last month. Both financial agencies have proposed rulemaking to handle different aspects of overseeing and enforcing crypto regulations, but Hill said their response following the failed CLARITY vote “[fell] short” of legislative solutions.“I still have hope […] that we can get [CLARITY] passed in the lame duck session of Congress,” said Hill. “We need that permanent law change to make sure America is number one in digital assets and blockchain technology.”The Arkansas lawmaker’s comments came after the heads of the SEC and CFTC — Paul Atkins and Michael Selig, respectively — announced plans to move forward with crypto regulation at the direction of US President Donald Trump. Related: Crypto PAC announces support for 32 House candidates in US midtermsAs Hill noted, the Senate would have only 22 days in session between the US midterm elections in November and the next group of lawmakers entering Congress in 2027. During that lame duck session, the results of the elections could play a role in votes favoring or opposing CLARITY, as lawmakers will be aware of whether they will be returning to Congress or leaving in January.Empty commissioner seats at both regulatorsAs of Wednesday, there are a total of seven empty vacancies at the leadership level for the SEC and CFTC. Commissioner Hester Peirce announced her resignation from the former last week, leaving only Chair Atkins and Mark Uyeda. Selig serves as chair and sole commissioner at the CFTC.Magazine: Capital starting to rotate back to crypto from AI: Raoul PalCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.

Cryptocurrency trading is becoming a game of “irrational exuberance” as traders race to be among the earliest investors to find the next 100x token, according to Shayne Coplan, the CEO of prediction market platform Polymarket.“People think they’re buying something, it’s worthless, but they’re buying it. If it can go to 100X, they want to sell it before it goes back to zero,” said Coplan during a fireside chat at Token2049 Singapore on Wednesday. Coplan said that some traders can generate significant wealth through this strategy, but added that it is a “game of irrational exuberance and hot potato” where asset prices that rise must eventually come down.Nobel laureate economist Robert J. Shiller, in his 2000 book “Irrational Exuberance”, examined how optimism spreads through psychology, social dynamics and feedback effects. Similarly, some cryptocurrency traders are drawn to the asset class by the allure of quick wealth creation, but finding the next winning altcoin is difficult. In December, BitMEX co-founder Arthur Hayes argued that altcoin season never ended, but traders missed most of the big winners of the cycle. Shayne Coplan, CEO of Polymarket, speaking at Token2049 Singapore. Photo: Aubrey Paller/CointelegraphPolymarket’s traction shows traders are seeking more predictable odds Polymarket’s growing user adoption signals that some traders are looking for wagers with more predictable odds, rather than the next big cryptocurrency, according to Coplan.“On Polymarket, if you’re trading these markets, there’s no exponential upside,” explained Coplan, adding that informed traders continue taking these bets to wager on future events with more predictable odds. Polymarket ranks as the second-largest prediction market, with $1.21 billion in prediction volume over the past seven days, according to DefiLlama data. Biggest market Kalshi logged $2.3 billion.Related: Trump Jr.-linked 1789 Capital leads Polymarket’s $1B raise: ReportStill, a December report from 10x Research argued that prediction markets are becoming the new battleground of the crypto economy, where data-driven “elite” traders profit from the “information asymmetry” and spreads caused by casual investors seeking a quick buck.The growth of prediction markets has also attracted increasing regulatory scrutiny in the US. On Aug. 14, JPMorgan Chase reportedly ended a banking relationship with Polymarket over regulatory concerns but said it remains keen on a potential underwriting role should Polymarket seek to go public. More than a dozen US states have taken legal action against Polymarket, Kalshi, or both over sports event contracts, while authorities in several countries have also blocked or restricted access to Polymarket. Magazine: Should users be allowed to bet on war and death in prediction markets?

More than 40% of Tangem Pay payments come from Latin America and over 30% from the US, while physical card availability remains restricted in some markets, the Swiss crypto wallet provider told Cointelegraph.“It is not simply a question of where people want crypto cards,” Andrey Ilinskiy, head of Tangem Pay, told Cointelegraph, adding: “It is where demand, regulation, banking infrastructure and card-issuing requirements happen to line up — and today, those maps do not always overlap.”On Wednesday, Tangem announced its first physical Visa card for in-store and online purchases and ATM withdrawals, with an initial release limited to 5,000 cards.The company said users can fund the card directly from their self-custodial wallet and move funds back to the wallet if the card is suspended or closed.“Self-custody removes one major boundary: there is no custodian standing between the user and their assets. But when those assets enter a regulated payment network, another set of boundaries appears,” Tangem said.Tangem can’t ship its card to about 20 countriesTangem said it cannot currently deliver physical Tangem Pay cards to roughly 20 countries, including China, Russia, North Korea and Palestine.The restrictions do not necessarily mirror rules governing crypto itself, according to the company. Know Your Customer (KYC) requirements, sanctions, local banking rules and card-issuing compliance can all determine where a crypto-linked card is available.“The same conditions that can create demand for crypto as an alternative financial rail can make regulated card issuance more difficult,” Tangem said.Related: US stablecoin adoption could surge with bank-like protections: Visa surveyTangem is also introducing cashback in Circle’s USDC stablecoin, at rates of 1% for Basic users and 2% for Plus users on eligible purchases. The company plans to showcase the first physical Tangem Pay cards at Token2049 in Singapore.Magazine: Crypto hardware wallets compared for 2026

World Liberty Financial (WLFI) executives unveiled plans to bring USD1 stablecoin payments to major online businesses during a panel discussion at Token2049 in Singapore on Wednesday.WLFI CEO Zach Witkoff and co-founder Zak Folkman took part in a stablecoin-focused panel discussion at the industry conference alongside Mesh co-founder and CEO Bam Azizi.Azizi unveiled a partnership with WLFI that would enable USD1 holders to spend the stablecoin across the payment infrastructure provider’s merchant network. The rollout is planned for this quarter.“Beyond the use of the World Liberty app itself, we are already in plans to roll out this exact same technology to some of the largest Web2 businesses that are in the marketplace,” Folkman said.WLFI’s Zak Folkman speaks during a stablecoin panel at Token2049 in Singapore on Wednesday. Photo: Aubrey Paller/CointelegraphWLFI is a crypto venture backed by US President Donald Trump’s family. Its USD1 stablecoin is designed to maintain a value of $1 and is issued by BitGo, with reserves comprising cash, US government money market funds and other cash equivalents. The stablecoin’s market capitalization stood at $4.45 billion, at the time of writing, according to CoinGecko. Related: Study suggests WLFI could act as an ‘early warning signal’ in cryptoWLFI seeks to take over USD1 issuanceIn August, the US Office of the Comptroller of the Currency (OCC) granted conditional approval for WLFI to establish a national trust bank intended to issue dollar-backed stablecoins and custody digital assets.The move would allow it to take over USD1 issuance, according to Witkoff.Related: Trump-linked WLFI hits new low as token-backed loan triggers concern“Today we’re issuing through BitGo,” he said. “With this trust charter, we’ll be able to take on that responsibility ourselves.”The charter approval drew criticism from Senator Elizabeth Warren, who alleged conflicts of interest involving the Trump family’s ties to WLFI. Warren and other senators have introduced the Ending Presidential Corruption in Banking Act in response.The OCC said its leadership and staff had acted consistently with their statutory duties and ethical obligations when reviewing the application.At the panel, Witkoff described the conditional approval as something WLFI had achieved “in spite of some of the attacks against us,” referring to criticism from the mainstream media and politicians.Magazine: Stablecoins can drain from banks and nations at lightning speed

Wall Street’s traditional wealth-creation opportunities, such as company stocks, remain largely inaccessible to the investing public until they list on exchanges, meaning that retail participants miss the most significant pre-listing gains, according to Hyperliquid co-founder and CEO Jeff Yan.“Some assets are only tradable by a few people for many orders of magnitude of its growth, and then ultimately tradable by the public only after all of the growth has been realized by a select few people with privilege,” said Yan during a Tuesday fireside chat at Token2049 Singapore. While he saw this dynamic as a byproduct of the broader economy, Yan added that this wealth-creation model is not “sustainable.” Yan argued that Hyperliquid’s growing revenue is a byproduct of creating more global access to blockchain-based wealth creation opportunities through the decentralized exchange. Hyperliquid co-founder and CEO Jeff Yan, speaking at Token2049 Singapore. Source: CointelegraphHyperliquid’s mission is financial openness, not ‘optimizing’ for revenue: CEOHyperliquid’s main mission is creating more access to wealth creation opportunities and fostering more participation in the financial system, while revenue is only a byproduct, explained Yan, adding:“We’re not really optimizing for revenue. That’s a byproduct of providing value to users.” He said that Hyperliquid’s success is partly due to its perpetual futures contracts having no expiry dates, which reduces the number of decisions made by traders and prevents liquidity fragmentation.Top 5 DeFi protocols by 30-day fees. Source: DefiLlamaHyperliquid ranks as the third-largest revenue-generating protocol with $72 million generated during the past 30 days, according to DefiLlama. Related: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perpsOnchain perps may challenge Wall Street: PanteraPerpetual futures may become one of the dominant trading instruments in global finance due to their structural advantages, with Hyperliquid demonstrating how blockchain infrastructure could challenge traditional markets, said blockchain-focused asset manager Pantera in July.Hyperliquid’s growth also drew attention from traditional finance participants, including the parent company of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), whose CEO, Jeffrey Sprecher, urged regulators to create a “level playing field” for launching 24/7 onchain perpetual futures contracts. In March, the NYSE partnered with tokenization platform Securitize as part of a broader effort to develop blockchain-based stock trading infrastructure with 24/7 trading and settlement for Wall Street. Magazine: How a 2.85% price error triggered $27M in liquidations on Aave

BingX chief strategy officer Kevin Lee says wealthy “old money” investors are taking a longer-term approach to Bitcoin (BTC) than many crypto-native traders.In a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he deals with “a lot of old money” seeking alternative investments.“They have stronger diamond hands than any of us,” Lee said.He added that Bitcoin has grown large enough that wealthy investors are increasingly looking at it as a way to diversify a portfolio rather than expecting it to “go 10x in two weeks.”Lee described wealthy investors as a largely untapped source of crypto capital, saying their buy-and-hold approach could make Bitcoin a portfolio diversifier for more investors. But data on family offices suggests that broader adoption remains limited.Cointelegraph’s Ciaran Lyons (left) and BingX CSO Kevin Lee (right) at Token2049 Singapore. Photo: Aubrey Paller/CointelegraphWealthy crypto investors lean long term, but adoption remains limitedSome affluent investors increasingly cite long-term appreciation and diversification as reasons for holding crypto.Lee said Bitcoin’s growth has made it more viable as a portfolio diversifier, giving the example of an investor allocating 5% to gold and another 5% to Bitcoin rather than looking for rapid returns.Recent data suggests affluent investors who already hold crypto are taking a longer-term view of the asset class. On Monday, a CoinShares survey of 2,230 investors with at least $500,000 in investable assets found long-term appreciation and diversification were the leading reasons for investing in crypto, while short-term speculation ranked last. Bitcoin was held by 80% of digital asset investors surveyed.Related: BitMine sets 5% Ether supply ‘hard cap’ as accumulation target nearsStill, crypto remains far from a standard allocation among wealthy families. A JPMorgan report published in February, based on a survey of 333 single-family offices across 30 countries, found that 89% had no cryptocurrency exposure, while their average allocation to crypto and digital assets was just 0.4%. Just 17% of respondents viewed crypto and digital assets as a key investment theme.Magazine: US crypto rules need to survive the next electionCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

BitMine Immersion Technologies will cap its Ether holdings at 5% of the cryptocurrency’s supply, according to Chairman Tom Lee.Speaking during a keynote at Token2049 in Singapore on Wednesday, Lee said BitMine is nearing the threshold after accumulating roughly 6 million Ether, equivalent to about 4.9% of the supply. He said the company needs about 100,000 ETH more to reach its target.“That’s a hard cap. We’re not gonna be accumulating past 5%,” Lee said. “We’re not gonna own more than 5% of Ethereum.”Lee had previously left open the possibility of accumulating more than 5% of Ether’s supply depending on Ethereum adoption. In an August interview with Bankless, he said the company may revisit that possibility in 2027.BitMine Chairman Tom Lee speaks at Token2049 Singapore. Photo: Aubrey Paller/CointelegraphBitMine says it is “done stacking” EtherLee said BitMine accumulated most of its Ether during what he described as a crypto bear market, saying that the company was able to build its position while prices were depressed. “We did all this buying in a bear market,” Lee said. “We protected the downside for ETH because we were buying. But now, we’re done stacking in front of a 25X move.”Lee also tied the 5% hard cap to BitMine’s capital strategy. Stopping its accumulation would remove the need to raise additional funds to keep buying Ether. “So if we have a 5% hard cap, that means we’re gonna outperform ETH on the way up, right?” Lee said. “‘Cause you don’t have to worry about us trying to raise capital. We’re done.”Related: Bitmine projects $334M in annual staking revenue from $15.8B crypto treasuryBitMine has tapped capital markets to build its Ether treasury. In June, the company launched a $300 million perpetual preferred stock offering. By early August, BitMine had repurchased 16.1 million common shares under its $4 billion buyback program.Even after Ether purchases stop, staking could add to BitMine’s holdings. Lee previously said the company could sell ETH earned through staking to prevent its share of supply from rising above 5%.Magazine: US crypto rules need to survive the next electionCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.