Monad Opens MON Airdrop Claims For 230,000 Users

Monad has opened claims for its long-awaited MON token airdrop, allocating tokens to over 230,000 addresses across five eligibility categories. The portal went live Tuesday morning, marking the first step toward the network’s mainnet launch expected shortly after November 3.

The rollout briefly overwhelmed authentication provider Privy, which suffered a “partial outage” due to the surge in traffic from claim attempts. Privy restored normal service within 40 minutes, reporting database congestion triggered by Monad’s integration of wallet and social account verification.

Eligible participants include users of DeFi protocols such as Aave, Curve, Pendle, Uniswap, and Hyperliquid, as well as major NFT collections. Monad said users can connect wallets and reserve allocations but cannot transfer tokens until the token generation event.

MON perpetuals on Hyperliquid trade near $0.07, implying a fully diluted valuation at around $7 billion with $7.7 million open interest. Founded by ex-Jump Trading developers, Monad Labs raised $225 million led by Paradigm to build a high-throughput, EVM-compatible blockchain.

The USA Targets $14B Bitcoin in Record Confiscation

The US Justice Department filed a civil forfeiture case seeking 127,000 Bitcoin tied to an alleged global fraud. Prosecutors identified Cambodian business magnate Chen Zhi as orchestrator of a vast “pig butchering” network using forced labor. Officials described the seizure (worth roughly $14 billion) as the largest forfeiture action in US history.

Authorities said Chen operated multiple scam compounds across Cambodia, luring victims into fraudulent crypto investments and blackmail schemes. The Treasury Department sanctioned 146 affiliates under the Prince Group Transnational Criminal Organization. Officials said coordination with the UK and international partners aims to recover funds and disrupt large-scale cross-border financial exploitation.

BlackRock Builds Tokenization Tech After ETF Boom

BlackRock CEO Larry Fink said the asset manager is developing proprietary tokenization infrastructure to digitize traditional financial products. The firm, overseeing more than $13 trillion, aims to convert ETFs and other assets into tokenized forms for global investors. Fink said tokenization could streamline market access and lower costs by eliminating layers of financial intermediation.

He added that young investors increasingly use tokenized assets for savings and retirement planning. BlackRock’s USD Liquidity Fund already ranks among the largest tokenized products, holding nearly $3 billion. Executives said continued expansion into tokenized markets complements its successful Bitcoin and Ethereum ETFs and positions BlackRock for digital finance leadership.

Hyperliquid Whale Denies Insider Link to Trump

Former BitForex CEO Garrett Jin denied trading on insider information after profiting $150 million during last week’s crypto crash. Onchain data linked Jin to large leveraged shorts on Hyperliquid placed before Trump’s tariff announcement. Binance founder Changpeng Zhao reposted the data, prompting Jin to confirm his identity while rejecting claims of political connections.

Jin said the trades belonged to client funds managed through his investment operation rather than personal speculation. He criticized crypto exchanges for excessive leverage offerings and proposed a stabilization fund to protect liquidity during market turmoil. Analysts said Jin’s remarks highlight systemic risks as decentralized derivatives volumes reach record highs.

Data of the Day

Weekly stablecoin activity on Ethereum surpassed one million unique senders for the first time, according to The Block’s data. Researchers said adoption accelerated sharply in 2025 as stablecoins became essential settlement tools for DeFi, remittances, and tokenized assets. The trend underscores Ethereum’s dominance as the primary infrastructure for dollar-backed digital transactions worldwide.

Analysts attributed the surge to expanding real-world asset issuance, cross-border payments, and decentralized finance onboarding. Countries with unstable currencies increasingly rely on stablecoins as digital substitutes for the dollar. Barring policy intervention or peg disruption, analysts expect steady growth as new applications and payment networks continue scaling across Ethereum’s ecosystem.

More Breaking News

• 0xBow launched Tornado Cash’s first compliance tool, letting users prove funds aren’t tied to hacks or sanctions while maintaining full anonymity.
• Elon Musk praised Bitcoin’s energy-based proof-of-work as inflation-proof against fiat “debasement,” calling it impossible to fake compared to printed currency.
• Nasdaq-listed Aurelion bought $134 million in Tether Gold (XAUT), creating the first fully gold-backed corporate treasury on the public market.
• Binance’s 2018 $200,000 BNB donation to Maltese cancer patients remains unclaimed, now worth $37 million amid soaring token appreciation.
• US spot Bitcoin and Ethereum ETFs saw $755 million in outflows on Monday as investors paused risk-taking after the weekend liquidation wipeout.
• Bhutan migrated its national ID system from Polygon to Ethereum, integrating self-sovereign digital credentials for all citizens by early 2026.
• Prediction platforms Kalshi and Polymarket reached $1.44 billion in September trading volume, fueled by new institutional backing and mainstream integrations.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.