MegaETH to Auction 5% of MEGA at $1M Valuation

Ethereum scaling project MegaETH will open a three-day English auction on October 27, selling 5% of its native token, MEGA, to the public. The sale begins at a fully diluted valuation of $1 million, or $0.0001 per MEGA, a figure that startled industry watchers with its audacious minimalism.

The auction will take place on Coinbase-owned crowdfunding platform Sonar, using USDT exclusively on Ethereum and restricted to KYC'd participants. Each bidder can commit between $2,650 and $186,282, with accredited US investors facing a mandatory one-year lockup but earning a 10% discount.

Prices will rise progressively toward a $999 million valuation ceiling as competition drives the clearing price higher during the 72-hour auction. MegaETH will release 500 million MEGA tokens in total, establishing a live market mechanism for community-driven price discovery on-chain.

Founder Namik Muduroglu said the project shuns “meaningless” airdrops, seeking a community built by conviction and capital commitment. Oversubscription will trigger a U-shaped allocation system that rewards Ethereum contributors while ensuring at least 5,000 participants receive baseline token allocations.

Hong Kong Approves First Spot Solana ETF

Hong Kong’s Securities and Futures Commission has approved ChinaAMC’s Solana ETF, the city’s first spot Solana fund. The ETF, scheduled to begin trading on October 27, will be fully backed by SOL and track the CME CF Solana-USD Index. It will list under multiple currency tickers on the Hong Kong Stock Exchange, marking another expansion of the region’s regulated crypto framework.

Market analysts believe the approval strengthens Hong Kong’s image as Asia’s most progressive crypto hub amid tightening mainland controls. The ETF could attract investors seeking structured exposure to Solana’s growing blockchain ecosystem. Industry observers say the listing demonstrates measured regulatory openness and confidence in broadening access beyond Bitcoin and Ethereum markets.

Stolen Bitcoin Worth $1.83 Billion Moved to Four Wallets

Hackers controlling addresses linked to the compromised Chinese mining pool LuBian have transferred nearly $1.83 billion in Bitcoin. OnchainLens, citing Arkham data, reported that 15,959 BTC were moved to four wallets through a series of synchronized transactions. The transfers occurred roughly two months after analysts uncovered LuBian’s 2020 theft involving over 127,000 Bitcoins.

Investigators are monitoring whether the funds are consolidated or laundered via mixing services or exchange deposits. The 2020 heist remains one of the largest crypto thefts in history, exposing weak custodial safeguards within smaller mining operations. Blockchain analysts say renewed wallet activity suggests the culprits may be testing liquidity routes as market conditions improve.

World App Integrates Polymarket as Prediction Trading Surges

Sam Altman’s World App, the digital identity and wallet project formerly known as Worldcoin, has integrated prediction platform Polymarket. The new Mini App allows users to place trades in USDC and WLD directly within World’s ecosystem. The launch follows restrictions in several regions, including the United States, where Polymarket still awaits regulatory clearance to resume operations.

The integration coincides with record prediction market volumes surpassing $2 billion in mid-October, according to Dune data. Polymarket led the surge, capturing over half of global trading as investor interest in event-based markets spiked. World’s milestone of 100 million Mini App downloads underscores growing demand for decentralized applications combining finance, identity, and market speculation.

Data of the Day

Retail crypto transactions worldwide surged by more than 125% between January and September 2025, TRM Labs reported Tuesday. The blockchain analytics firm attributed growth to clearer regulatory environments, expanding stablecoin use, and rising retail participation across multiple emerging economies.

The report emphasized that improved compliance frameworks have enabled individuals to engage confidently with digital assets for payments and remittances. In the United States and Pakistan, favorable legislation and new crypto councils have accelerated adoption despite differing market structures.

TRM Labs noted that bans remain largely ineffective, with users in restricted regions still turning to crypto as a financial outlet. Researchers concluded that the persistent rise of stablecoins marks a lasting shift toward mainstream digital finance worldwide.

More Breaking News

• Robinhood has listed Binance’s BNB token for its 27 million users, marking broader US acceptance as the asset’s market cap nears $150 billion.
• Europol dismantled a Latvia-based cybercrime network offering SIM-based fraud services across 80 countries, seizing $330,000 in crypto and arresting seven suspects.
• Spot Bitcoin ETFs logged $477 million in net inflows as investors rotated out of gold, signaling renewed institutional confidence and growing crypto liquidity.
• Aave DAO proposed a $50 million yearly buyback program to institutionalize AAVE purchases from protocol revenue, formalizing a long-term capital allocation strategy.
• Kadena L1 is shutting down effective immediately due to market conditions, sending its KDA token tumbling over 60% as operations and maintenance cease indefinitely.
• Senator Elizabeth Warren blasted the GENIUS stablecoin law, urging Treasury to confront Trump-linked conflicts and strengthen safeguards against systemic and consumer risks.
• Solana Mobile ended software and security support for its Saga phone after two years, shifting fully to its next-generation Seeker device and ecosystem token.

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