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Hyperliquid Strategies Files S-1 Registration with US SEC For $1B IPO

By
Paul Ugbede Godwin
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0

Hyperliquid Strategies, a newly formed entity focused on building a crypto treasury around the Hyperliquid ecosystem, has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion through a public offering.

The primary goal is to acquire and stake Hyperliquid’s native token, HYPE, to expand its treasury holdings, while also funding general corporate purposes. This move underscores growing institutional interest in decentralized derivatives platforms like Hyperliquid, which has seen explosive trading volumes—over $317 billion in October 2025 alone.

The filing was submitted on October 22, 2025, and the company plans to issue up to 160 million shares of common stock via a committed equity facility with Chardan Capital Markets as the financial advisor.

Post-merger, Hyperliquid Strategies is expected to hold over 12.6 million HYPE tokens valued at approximately $470 million, positioning it as the largest corporate holder of the token.

The company emerges from a pending reverse merger between Nasdaq-listed biotech firm Sonnet BioTherapeutics Holdings Inc. and special purpose acquisition company (SPAC) Rorschach I LLC, announced in July 2025. The merger is slated to close by the end of 2025, after which the entity will trade on Nasdaq under a new ticker.

Chaired by Bob Diamond former Barclays CEO and led by CEO David Schamis. Beyond HYPE accumulation, the firm intends to stake nearly all its holdings to generate ongoing rewards, enhancing shareholder value through yield generation in the Hyperliquid Layer-1 ecosystem.

This reflects a broader trend of public companies diversifying treasuries into altcoins beyond Bitcoin and Ethereum. HYPE is the native token of Hyperliquid, a decentralized perpetual futures exchange known for high-leverage, 24/7 trading.

Recent monthly unlocks and buybacks have influenced price stability, but institutional demand—fueled by Hyperliquid’s dominance in perps trading—has driven resilience. The announcement triggered a ~7-8% price surge in HYPE shortly after the filing.

HYPE’s price jumped 7.67% following the news, with increased trading volume and order book depth signaling bullish sentiment. The story broke rapidly on X, with posts from crypto news aggregators and influencers highlighting the raise’s potential to solidify HYPE’s ecosystem.

For instance, users noted the filing’s ties to liquidity and basis trading opportunities. While buybacks support price floors, token unlocks pose short-term volatility risks. Long-term, this could attract more traditional investors via Nasdaq listing and HYPE ETFs, bridging TradFi and DeFi.

Staking HYPE allows token holders to lock their tokens in the Hyperliquid protocol to earn rewards, contribute to network security, and participate in governance. Staked HYPE helps secure the Layer-1 blockchain by incentivizing validators or node operators to maintain network integrity.

Stakers earn yields, typically in additional HYPE tokens, derived from protocol fees (e.g., trading fees from the perpetual futures exchange). Staked tokens may grant voting rights for protocol upgrades or parameter changes, though specifics on governance are less detailed in public sources.

Staking contributes to the ecosystem’s liquidity by locking tokens, reducing circulating supply and potentially stabilizing price volatility. Rewards primarily come from a portion of the trading fees generated on Hyperliquid’s perpetual futures exchange, which sees massive volumes.

Yields are proportional to the amount staked and the user’s share of the total staked pool. Users can withdraw their staked HYPE after the lock-up period. There may be an unbonding period common in PoS systems to prevent sudden dumps, though Hyperliquid’s exact unbonding rules are not fully specified.

Hyperliquid Strategies, as noted in the $1B raise announcement, plans to stake nearly all of its 12.6M HYPE tokens (~$470M) post-merger. This strategy: Maximizes Yield: By staking a significant portion, the firm aims to generate ongoing rewards to enhance shareholder value.

Locking 12.6M tokens 1.26% of the 1B total supply could reduce sell pressure and support HYPE’s price. Institutional staking reflects long-term commitment to Hyperliquid’s ecosystem, potentially attracting more investors.

For entities like Hyperliquid Strategies, staking in a regulated context (e.g., Nasdaq-listed entity) may face scrutiny, though the SEC filing suggests compliance. Hyperliquid Strategies’ staking plan, alongside potential HYPE ETFs, could increase staking participation, tightening supply.

This development positions Hyperliquid Strategies as a pioneer in regulated crypto treasury management, potentially amplifying Hyperliquid’s growth in the $100B+ perpetuals market.

Nigeria’s Digital Lending Platform Lidya Shuts Down Operation Amid Financial Distress

By
Ojukwu Emmanuel
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0

Lidya, a Nigerian digital lending platform that empowered small and medium-sized enterprises (SMEs), has officially shut down operations due to severe financial distress.

In an email sent to customers, the company explained that despite efforts to restructure and sustain its business, it could no longer continue operations.

“Despite best efforts to restructure and sustain operations, the Company has encountered severe financial distress and is no longer able to continue in business. As a result, the Company has ceased all operations,” the email read.

A follow-up statement in the same message added, “Due to the Company’s financial status, it is unable to process funds or settle claims at this time.”

The announcement confirmed what many customers had feared for months. Long before Lidya’s shutdown email arrived, users across Nigeria had been struggling to access their funds.  Reports of financial troubles began surfacing as early as June 2025. Customers described a series of frustrating experiences, which included failed withdrawals despite confirmation messages, visible but inaccessible wallet balances, and support tickets that were ignored or automatically closed.

In some cases, the Lidya app displayed “technical maintenance” notices for weeks without resolution. What began as minor complaints on social media has eventually escalated into a full-blown crisis, following the company’s recent shutdown.

Founded in 2016 by former Jumia executives Tunde Kehinde and Ercin Eksin, Lidya emerged with a powerful mission to provide fast, data-driven loans to small businesses often overlooked by traditional banks.

Using artificial intelligence and alternative data sources such as bank statements, mobile money transactions, and even social media activity, Lidya approved loans in under 24 hours. Its model quickly gained traction.

By 2018, the company had disbursed over 50,000 loans in Nigeria and secured $6.9 million in Series A funding led by Omidyar Network and Alitheia Capital. The platform was hailed as a catalyst for SME growth in Africa, targeting a massive market where small businesses contributed half of GDP but accessed less than 5% of bank credit.

Then came the global leap. In 2019, Lidya stunned many Africa-focused investors by launching operations in Warsaw, Poland. The move aimed to test the scalability of its lending model, hedge against naira volatility, and appeal to European investors with a dual-market narrative.

Partnering with BNP Paribas Poland, the company built a localized lending platform and began targeting Polish SMEs facing similar credit challenges. Initially, the expansion appeared promising. By 2020, Lidya had raised $8.5 million from global investors including Accion Venture Lab and Bamboo Capital. Headlines celebrated it as “the first African fintech to successfully expand into Europe.”

But the success was short-lived. Cultural and regulatory differences, limited alternative data, and slow adoption among Polish SMEs hindered growth. The European venture soon became a financial drain rather than a profit driver. Lidya was reportedly burning around $1 million per month across its Nigerian and European operations, with neither achieving profitability.

By early 2025, financial pressure forced Lidya to halt lending operations in both markets. The company quietly shut down its Polish arm and stopped issuing new loans in Nigeria.

In a last-ditch effort to survive, Lidya launched Lidya Collect, a business-to-business (B2B) debt recovery platform designed to monetize its existing loan book and pivot to SaaS. Unfortunately, the pivot came too late. Users began reporting frozen wallets and failed withdrawals as early as June 2025. Customer support went dark, and the app was ghosted.

The shutdown marks the end of a nine-year journey that began with bold ambition. Lidya had once envisioned becoming the “Goldman Sachs of Africa,” expanding across two continents before collapsing.

Cryptomus Fined C$176.96M By Canada’s FINTRAC

By
Paul Ugbede Godwin
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0

Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) imposed a record-breaking fine of C$176.96 million approximately US$126 million on Xeltox Enterprises Ltd., the British Columbia-based company operating the cryptocurrency exchange Cryptomus formerly known as Certa Payments Ltd..

This penalty marks the largest ever issued by FINTRAC for violations of the Proceeds of Crime and Terrorist Financing Act (PCMLTFA), highlighting escalating regulatory scrutiny on Canada’s rapidly growing virtual currency sector.

FINTRAC identified multiple systemic failures in Cryptomus’s anti-money laundering (AML) and counter-terrorist financing (CTF) compliance program, including: Failure to Report Suspicious Transactions.

The exchange did not submit suspicious transaction reports (STRs) for 1,068 instances in July 2024 involving known darknet markets and virtual currency wallets linked to criminal activity. These included high-risk crypto transfers exceeding C$10,000 that should have been flagged under PCMLTFA requirements.

Between July 1 and December 31, 2024, Cryptomus failed to report 7,557 electronic funds transfers originating from Iran, in violation of sanctions reporting obligations. The company lacked complete and effective policies for ongoing client monitoring, “know-your-client” (KYC) verification, and risk assessments. This created vulnerabilities allowing potential exploitation by illicit actors.

Under PCMLTFA, crypto exchanges like Cryptomus are classified as money services businesses (MSBs) and must maintain records, verify client identities, and report specified transactions to FINTRAC to combat money laundering and terrorist financing.

FINTRAC emphasized that the virtual currency industry’s expansion amplifies risks of sanctions evasion and illicit finance, underscoring the need for robust compliance controls to protect Canada’s financial system. Industry observers note this fine aligns with a global trend of stricter enforcement, contrasting with generally improving compliance among other Canadian crypto operators.

The Proceeds of Crime and Terrorist Financing Act (PCMLTFA) is Canada’s primary legislation aimed at preventing money laundering and terrorist financing. Administered by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), it imposes specific obligations on regulated entities, including cryptocurrency exchanges classified as money services businesses (MSBs).

Registration with FINTRACMSBs, including crypto exchanges, must register with FINTRAC before conducting business. Registration involves providing detailed information about the business, its owners, and compliance officers, with renewals required every two years.

Compliance Program Entities must establish a robust anti-money laundering (AML) and counter-terrorist financing (CTF) compliance program, including: Appointing a Compliance Officer: A designated individual responsible for overseeing AML/CTF measures.

Written Policies and Procedures: Documented guidelines to detect, prevent, and report suspicious activities. Evaluate the risk of money laundering and terrorist financing based on clients, services, and geographic exposure.

Ongoing training for staff to recognize and handle suspicious transactions. Regular audits at least every two years to ensure the compliance program remains effective. Verify the identity of clients for transactions meeting specific thresholds using government-issued ID or other reliable documents.

Continuously monitor client activities to identify suspicious patterns or changes in risk profiles. Identify and apply enhanced due diligence for PEPs and their associates, who pose higher risks due to their influence.

Maintain detailed records for at least five years, including: Client identification documents. Transaction details such as amount, date, parties involved. Large cash transaction records of C$10,000 or more. Receipts of funds and account statements. Records must be readily accessible for FINTRAC audits.

Entities must submit specific reports to FINTRAC within prescribed Report transactions suspected of being linked to money laundering or terrorist financing, regardless of the amount, within 30 days of detection.

Report cash transactions of C$10,000 or more within 15 days. Report international electronic transfers of C$10,000 or more within 5 business days. Report transactions involving jurisdictions or entities subject to Canadian sanctions (e.g., transfers from Iran, as in the Cryptomus case).

Screen clients and transactions against sanctions lists. Report any transactions involving sanctioned jurisdictions or individuals immediately. For virtual currency transfers, MSBs must include originator and beneficiary information with the transfer, similar to traditional wire transfers.

Ensure receiving entities are compliant with equivalent regulations. Failure to meet PCMLTFA requirements can result in fines, as seen in the Cryptomus case C$176.96 million for multiple violations. Fines up to C$2 million, imprisonment up to 5 years, or both for willful violations.

Public naming of violators and potential loss of operating licenses. Cryptomus was fined for failing to: Submit 1,068 STRs for suspicious crypto transactions linked to darknet markets. Report 7,557 electronic transfers from Iran, violating sanctions rules.

Maintain an adequate compliance program, including KYC and risk assessment failures. The PCMLTFA ensures Canada’s financial system is protected from illicit activities, with crypto exchanges facing heightened scrutiny due to their vulnerability to misuse.

Earlier in 2025, Cryptomus was also banned from trading securities in British Columbia by the provincial regulator. No response from Cryptomus has been publicly detailed, but the penalty serves as a stark warning to the sector.

Countdown to Binance x BlockDAG AMA: $1 Goal Takes Center Stage as Ethereum Nears $8K and Sui Slides

By
TI Partners
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0

The crypto world is buzzing as three major names, BlockDAG (BDAG), Ethereum (ETH), and Sui (SUI), take center stage this week. Excitement builds for the Binance x BlockDAG LIVE AMA set for 3 PM UTC on Friday, drawing widespread attention toward the project’s $1 long-term target.

At the same time, Ethereum’s price outlook turns brighter thanks to large-scale institutional interest, with analysts expecting a possible climb toward $8,000. Meanwhile, Sui faces a tough stretch, losing its upward push as prices drop below the $3 level.

Together, these assets showcase three different market stories: steady progress, recovery, and resilience, and are now seen as the cryptos with the most potential moving into late October 2025.

Sui Faces Pressure as Decline Extends Below $3

The recent SUI price drop of 7.6% to $2.63 highlights growing selling activity. Despite occasional bounces, the coin trades below key averages: MA-20 ($3.11), MA-50 ($3.32), and MA-200 ($3.29). This consistent weakness shows limited short-term recovery chances.

Market data indicates strong trend strength from the ADX, but the MACD still signals bearish control, and the RSI stays deeply oversold under 30. These metrics often precede minor rebounds, though analysts suggest there’s less than a 20% chance of breaking past $3.32 unless buying pressure returns.

The main support zone sits near the Ichimoku Kijun at $2.13, a key level to monitor. If it breaks, Sui could face another pullback before stabilizing. However, the project’s strong DeFi integrations and network fundamentals suggest that once sentiment improves, Sui may rejoin the list of cryptos with long-term growth potential.

Ethereum Strengthens as $8K Ambition Gains Backing

Ethereum (ETH) continues its strong momentum after BitMine, a blockchain infrastructure firm, made a $1.5 billion purchase, securing around 379,000 ETH. This move has reignited confidence among major market participants, positioning Ethereum as one of the cryptos with the most potential for sustained growth.

Currently trading at $3,983, ETH has climbed 2.7% in the past day, pushing its market value to $469 billion. It has recently broken out of a long-term descending resistance trendline, which analysts view as a clear bullish signal. The setup resembles a bull flag, projecting an upside target near $8,022 if ETH holds above the $4,000 resistance area.

Indicators strengthen this view: the MACD shows a fresh upward crossover, while the RSI (55.48) reflects growing buying strength. Still, sustained gains depend on further institutional inflows and market-wide support. If both continue, Ethereum could play a key role in leading the next crypto cycle.

BlockDAG’s Binance AMA Spark Investing in Crypto Momentum

BlockDAG is hosting an exclusive Binance AMA this Friday, October 24, at 3 PM UTC, marking one of its biggest global highlights yet. The session will share insider updates, roadmap reveals, and insights ahead of Keynote 4: The Launch Note and GENESIS DAY.

With over $430M raised, BlockDAG invites the crypto community to tune in and see what’s next for its growing ecosystem. Use code “TGE” to boost rewards before the dashboard upgrade and price rise, while Batch 31 coins remain at $0.0015. Time is limited; secure your spot before momentum accelerates.

The project’s growth is undeniable. With $430M+ raised, over 27 billion BDAG coins sold, and a thriving base of 312K+ holders, BlockDAG continues to gain attention. Alongside these achievements, 20K+ physical miners have already been shipped, supported by a vast network of 3.5M+ X1 mobile app miners, each helping secure and expand the ecosystem.

Currently, presale coins in Batch 31 are priced at $0.0015, with market watchers predicting post-listing prices between $0.50 and $1.00. This wide gap represents strong potential returns for those exploring investing in crypto.

BlockDAG’s Buyer Battles leaderboard, which rewards active contributors, adds a social and competitive layer to the project’s presale phase. Beyond engagement, the network’s EVM compatibility allows smooth smart contract movement, while its Awakening Testnet showcases reliability and scalability using the Proof-of-Work + Proof-of-Engagement (PoE) model. This hybrid design ensures both high speed and decentralization as core features for modern blockchain growth.

As the Binance AMA nears, community discussions focus on upcoming announcements, including exchange readiness and future integrations. The project’s steady updates and open communication reinforce why investing in crypto through BlockDAG remains a growing trend in 2025.

Final Say: Investing in Crypto’s Biggest Week

This week is crucial for three key digital projects. Ethereum is backed by strong buying interest and a bullish setup pointing toward $8K, while Sui works to regain strength after a tough decline.

Yet, BlockDAG remains the standout story. With a $430M+ presale, 3.5M+ X1 miners, and the highly awaited Binance LIVE AMA, it continues to combine innovation, user engagement, and clear goals. Its hybrid structure, gamified Buyer Battles, and $1 target reflect why many now view investing in crypto through BlockDAG as a smart move.

As the countdown continues, BlockDAG shows that community trust, solid technology, and transparent growth can define the next major success in the crypto world by 2025.

 

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Turn Your Crypto into Daily Income with Open Miner’s AI Cloud Mining Platform

By
TI Partners
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0

As the Cryptocurrency Market Grows, More Investors Are Turning to Passive Income Opportunities

Among them, “cloud mining” — a way to participate in mining remotely without setting up your own hardware — has become increasingly popular. The cloud mining contracts offered by Open Miner have attracted significant attention from investors.

Open Miner: An Intelligent, Secure, and Green Cloud Mining Platform

Zero Equipment Required

No need for hardware investment. AI-optimized cloud mining technology allows you to start earning immediately after registration.

Multi-Currency Support

Supports major cryptocurrencies such as BTC, ETH, XRP, SOL, DOGE, USDT, USDC, and LTC. Deposit and withdraw freely, and convert between assets easily.

Daily Earnings, Fully Transparent

Daily automatic profit distribution makes asset management more convenient and transparent.

How to Start Earning Easily

Step 1: Register an Account
Visit the official website https://openminer.net/ to create an account.
New users immediately receive a $500 registration bonus, and you can earn $1 daily check-in rewards.

Step 2: Choose a Mining Contract
Browse a variety of USD-denominated mining contracts on the platform and freely choose the plan that suits you best.
The system automatically converts your funds into the corresponding cryptocurrency at the real-time exchange rate.

Step 3: Start Mining
Once the contract is activated, mining begins instantly, and you start earning rewards.
Profits are settled daily, and when your account balance reaches $155, you can withdraw anytime or choose to reinvest for long-term returns.

Why Choose Open Miner?

Open Miner offers fast transactions, zero fees, and high liquidity, making it one of the most promising cloud mining platforms available.
On Open Miner, users can directly start cloud mining using major cryptocurrencies like BTC, ETH, SOL, XRP, DOGE, USDC, USDT, and LTC, without purchasing any hardware or setting up complex contracts.

Truly realizing:

“Hold crypto to mine, mine to earn.”

Compared with simply holding digital assets and waiting for price appreciation or engaging in high-risk short-term trading, Open Miner provides a more stable and sustainable way to grow your assets.
With transparent daily settlements and an easy-to-use interface, it’s ideal for both investors seeking steady growth and beginners entering the crypto world.

About Open Miner

Open Miner is a global platform focused on innovation in cloud mining technology.
We aim to provide convenient, secure, and eco-friendly cryptocurrency mining solutions for both individual and institutional users.

By integrating our self-built green data centers with top global mining pool resources, we deliver a truly high-performance mining experience.

Our mission is to enable everyone to participate in blockchain value creation easily.
Whether you are new to crypto assets or a professional investor looking to diversify your portfolio, Open Miner offers stable, transparent, and flexible mining services.

We believe that mining should not be a game only for the few — it should be a gateway for more people to achieve digital wealth growth.

Official Website: https://openminer.net/
Official Email: info@OpenMiner.net

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