Morning BriefThis is a daily newsletter written by Tyler Warner. The analysis and opinions contained within represent solely the author's views and do not necessarily reflect the stance of Decrypt. You may also follow their daily news program for more updates. FOMO HOUR, covering all headlines and market updates.

Good morning!

Today's Headlines:

• As crude oil and bonds declined, mainstream crypto assets rose by 3% to 4%; Bitcoin reached $86,400.
• SEC Proposes to Allow Advisors and Funds to Directly Hold Cryptocurrency Assets
• ETH Foundation Launches zkAPI for AI Privacy
• Pump Leads Blockchain Protocols Again, Generating Revenue of $2.6 Million
• 7- Trait CryptoPunk was traded on Gondi for $5.9 million, creating a landmark transaction.

🔓 NEAR Intents遭受黑客攻击，损失380万美元——这算“利好型黑客事件”吗？

NEAR Intents temporarily suspended services on Thursday, after an attacker stole approximately $3.8 million earlier.

The vulnerability is located in the layer responsible for the inflow and outflow of funds, as well as in the communication between this layer and the main contract that holds the users' funds. ZachXBT traced the flow of the stolen funds to KuCoin, where they were exchanged for Bitcoin. The team has reported the incident to the law enforcement authorities and stated that they will release a complete report.

If you are not familiar with Near Intents, this tool allows users to exchange encrypted assets between different blockchains and supports privacy transactions. Benefiting from the privacy trend, it has performed strongly, having processed over $30 billion in exchanges across 35 networks.

In terms of the hacker attack itself, the project team responded quickly. The vulnerabilities on the contract side were patched, and core services were restored within about an hour. Deposits and withdrawals on the network, including those related to BNB Chain, Polygon, and Optimism, were suspended for another 12 hours to complete the remaining repairs. All affected users will receive full compensation.

NEAR once fell by nearly 9%, trading at $4.86, and Bitwise NEAR ETF also fell by more than 7%. This fund was launched just two days ago, so it encountered a hacking incident in its first week, which happened to be on the product that Bitwise uses to demonstrate the growth of the network.

However, if we consider the severity of these hacker incidents, this one can be considered the best-case scenario among the worst. Kelp DAO was attacked, resulting in losses of hundreds of millions of dollars; Bitget suffered losses of 387.5 million dollars and had withdrawals frozen for four days; MetaMask took validators offline and has since made almost no further announcements. In contrast, NEAR Intents identified the vulnerability, stopped services, fixed the issue, restarted within an hour, publicly explained the malfunction, contacted law enforcement, and promised to compensate users in full. This was a hacker incident with a rapid response and relatively controllable losses.

This is already considered quite good. Some even refer to it as a “positive hacker incident,” similar to the vulnerability discovered by the ZCash team themselves. Whether NEAR will ultimately turn out to be positive or not, we will find out soon enough.

🌎 Macroeconomics, Cryptography, and the Market

• Mainstream encrypted assets rose by 2% to 4%; BTC rose by 3% to $86,400; ETH rose by 2% to $2,740; SOL rose by 3% to $122; HYPE rose by 1% to $91; ZEC fell by 1% to $1,380.
• The top-performing altcoins in terms of increase include SKY (+17%), AAVE (+11%), ZRO (+12%), and VVV (+8%).
• Crude oil falls 4% to $89; gold rises 0.3% to $4,220
• As crude oil and bonds decline, stock index futures rise; Dow Jones futures gain 0.6%, Nasdaq futures gain 0.7%
• SEC proposes to allow investment advisors and funds to directly hold crypto assets, including holding private keys by themselves when no custodian institutions are available; this 760-page proposal also allows state trust companies to act as custodians and to check quarterly whether any custodian institutions are available.
• Illinois agrees to postpone its encryption tax for six months, awaiting the continuation of litigation
• Trump will host his third gala on November 22 at a golf club in Virginia for the largest holders of his memecoin; the top 185 holders will be able to attend, the top 29 will be able to participate in the reception, and the top 4 will receive an 18K gold watch.
• Evernorth Shareholders have approved its listing on NASDAQ, making it the largest listed company built entirely around XRP; the company will complete its listing on October 7th and begin trading on October 8th at XRPN, holding approximately 473 million XRP, valued at about 705 million US dollars.
• USDT This month, it will return to the Bitcoin network through Utexo; Utexo is a licensed company that can issue USDT on that network and is supported by Tether. It uses a system called RGB, which allows users to hold both dollars and Bitcoin in the same wallet. Next, they also plan to support Lightning.
• The digital asset platform of Fiserv was launched on Thursday, with the first project to go live being Roughrider Coin launched by the state-owned bank of North Dakota.

Enterprise funds and ETF

• Bitcoin had a net inflow of $103 million on Thursday; there was a net outflow of $55 million, and a net outflow of $1.1 million on another day.

Meme Coin Tracking

• Meme coin leaders generally rose by 2% to 5%; DOGE rose by 2%, SHIB rose by 2%, PEPE rose by 2%, PENGU rose by 2%, TRUMP rose by 4%, SPX rose by 2%, BONK rose by 4%.
• Robinhood Leaders in the chain show mixed performance; Pons Drops by 2% to $360 million; AI Drops by 2% to $154 million; Cashcat Rises by 3% to $174 million; Genie Rises by 500%; Shroom Rises by 24%; Moo Rises by 80%, leading the gains among other targets.
• The tokens with the largest increases on Solana are led by www (+135 times), Hooked (+180%), Cards (+26%), and Sapling (+170 times).

💰 Tokens, Airdrops, and Protocol Tracking

• Pump leads the list of on-chain protocols with revenue of $2.62 million, followed by Hyperliquid with $1.44 million, Stonk with $940,000, and Collector Crypt with $750,000.
• Ethereum Foundation launches zkAPI, which is a method to pay for AI without letting service providers know your identity; users only need to deposit a one-time amount of ETH or USDC, and then they can prove they have funds without revealing the specific source of their deposit. This feature has been launched on Ethereum and was built by Open Anonymity Project.

🚚 What's the latest news with NFT?

• NFT Leading stocks show divergence; Punks Remains flat at 33; ETH; BAYC Falls 1% to 6.18; ETH; Pudgy Falls 7% to 3; ETH
• Quotrons (+6%) and OTC Desks (+14%) led the gains.
• The only one with the serial number 7-Trait CryptoPunk was sold for approximately $5.9 million on Gondi, although the full details of the transaction have not been disclosed yet.