ETH falls below the $4100 mark

**[Data: South Korea Has Seized $106 Million in Cryptocurrency from Tax Evaders Since 2021]** According to a report by Jinse Finance, since 2021, South Korea's tax authorities have seized over 140 billion won ($106 million) worth of virtual assets, including Bitcoin and Ethereum, from tax evaders. This highlights the government's increasing use of digital assets to enforce compliance. The National Tax Service (NTS) of South Korea began confiscating cryptocurrencies in 2021 from individuals who claimed to have no cash or property to pay overdue taxes, such as capital gains tax and inheritance tax. Data submitted on September 21 to Democratic Party lawmaker Kim Young-jin shows that a total of 14,140 individuals had their assets seized between 2021 and 2024. These seizures were made possible by a 2018 Supreme Court ruling, which recognized virtual assets as intangible property, similar to stocks or copyrights, and therefore subject to confiscation.

[Caixin: Multiple Types of Chinese Institutions in Hong Kong Ordered to Scale Back Crypto Asset Businesses, 'Treasury Company' Model Likely to Be Restricted] Foresight News reports that Caixin has published an article revealing the internal details of multiple institutions being required to scale back their crypto asset businesses in Hong Kong. The article points out that internet platforms, Chinese securities firms, Chinese banks, and other institutions in Hong Kong have all been instructed to temporarily halt various activities involving crypto assets, including investment, trading, issuance of RWA, and stablecoins. Among these, securities firms that have obtained the qualification to 'provide virtual asset trading services' are under particular scrutiny, as their clients can directly trade Bitcoin, Ethereum, Tether, and other cryptocurrencies within their accounts. From the perspective of asset classification, Hong Kong divides virtual assets into security-type virtual assets and non-security-type virtual assets. It is reported that the 'Treasury Company' model will face restrictions. During this wave of virtual currency innovation, the leveraged investment in crypto assets using the 'Treasury Company' model has been rapidly replicated. Many Chinese enterprises listed on the Hong Kong and U.S. stock exchanges have announced the purchase of Bitcoin, Ethereum, and other crypto assets, aiming to profit from both stock price and cryptocurrency price increases. Now, this model is highly likely to be restricted.

[Morgan Stanley Executive Reviews U.S. Stock Market Bull Run and Fed Rate Cut Impact] According to a report on September 24, 2023, Andrew Slimmon, an executive at Morgan Stanley Investment Management, stated that the U.S. stock market bull run might pause for the remainder of the year but is unlikely to undergo a significant correction. He recommended focusing on the technology, financial, and industrial sectors. Although these cyclical stocks appear slightly overbought, they may still deliver strong performance. Slimmon mentioned that the Federal Reserve's rate cut on September 17 was a 'non-recessionary rate cut' and noted that historically, U.S. stocks tend to rise in similar situations.

[Binance Announces the Listing of Hana Network (HANA)] Binance has announced the addition of Hana Network (HANA) to multiple services, including spot trading and futures contracts, officially launching on 2025-09-26 at 19:00 (UTC+8). Notes: - The maximum leverage for HANAUSDT perpetual contracts is 50x, with a funding rate cap of ±2.00%, and funding fees are settled every 4 hours. - Airdrop activities must be redeemed through the Binance Alpha Events page within the specified time; late redemptions will be invalid. - Binance reserves the right to dynamically adjust contract specifications, including leverage and margin requirements, based on market risks.

[A Whale Spent $18.15 Million to Buy Nearly 400,000 HYPE in the Past 32 Hours] Odaily Planet Daily reports, according to monitoring by Lookonchain, a whale has been continuously purchasing HYPE over the past 32 hours, spending $18.15 million USDC at an average price of $45.8 to acquire 396,468 HYPE. The whale currently still holds $6.03 million USDC and plans to continue buying HYPE.