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first_img Celsius bankruptcy liquidation party sues BitMEX, claiming 495 million USD

The liquidator of the bankrupt cryptocurrency lending platform Celsius Network has sued BitMEX, accusing it of fraud and market manipulation during forced liquidations in March 2020 amid the COVID-19 pandemic, seeking the return of 6,360 BTC, equivalent to approximately $495 million at current prices. The lawsuit was filed on September 12 in the U.S. Bankruptcy Court for the Southern District of New York by the litigation manager appointed in the Celsius bankruptcy case, Blockchain Recovery Investment Consortium.The defendants include five entities: HDR Global Trading, ABS Global Trading, Shine Effort, 100x Holdings, and HDR Global Services, registered across Bermuda, the Cayman Islands, the United Kingdom, Hong Kong, Seychelles, and the United States. Celsius claims it lost 1,325.84 BTC during a liquidation on March 12, 2020, and is seeking to recover debts transferred by the investment fund JST, which lost 5,034.33 BTC the following day. The positions held by both could only be profitable when Bitcoin was rising or stable, and the lawsuit alleges that BitMEX simultaneously controlled the system that decided when customers were liquidated and the insurance fund that profited from the liquidations.The allegations have not yet been verified, and this is the second lawsuit BitMEX has faced since announcing its liquidation in July; the exchange will cease trading on September 23.

first_img India launches a pilot program for the tokenization of corporate bonds worth 620 billion USD, with digital rupees participating in the settlement

The Securities and Exchange Board of India (SEBI) launched the Demat 2 pilot this week, issuing corporate bonds in the form of digital tokens on a distributed ledger operated by regulated market institutions, and settling through the wholesale digital rupee of the Reserve Bank of India. The size of India's corporate bond market is approximately $620 billion.The state-owned power financing institution REC raised ₹50 billion (approximately $56 million) through this system, engineering and construction giant Larsen & Toubro refinanced ₹50 billion, and non-banking financial institution IIFL Finance raised ₹2.5 billion (approximately $2.8 million), totaling around ₹102.5 billion. The bonds retain fixed interest rates, maturity dates, and investor rights, but the tokenized bonds can be settled simultaneously with the digital rupees used for purchase, thereby reducing transaction risk.Subsequent phases will introduce smart contracts to handle corporate actions such as interest payments and redemptions, and there are plans to open secondary market trading, ultimately allowing retail investors to participate. India maintains a cautious attitude towards private cryptocurrencies, and this pilot is an attempt to introduce tokenization into its controlled financial system.

first_img Bitcoin Bancorp acquired the bankrupt Bitcoin Depot for $620,000, including 2,547 ATMs

According to CoinDesk, after the bankruptcy of Bitcoin ATM operator Bitcoin Depot, about a quarter of its more than 9,200 self-service terminals have been sold. The publicly traded digital asset infrastructure company Bitcoin Bancorp (BCBC) won 2,547 of these ATMs for $620,750 and additionally paid $110,500 to acquire related site agreements, intellectual property, trademarks, patents, and the BitcoinDepot.com domain name.Bitcoin Depot filed for Chapter 11 bankruptcy protection in May of this year, after its first-quarter revenue fell 49% year-over-year, with profits turning from a $12.2 million gain to a $9.5 million loss. In its last complete financial report before bankruptcy (fourth quarter of 2025), the company valued all properties and equipment (of which 98% were self-service terminals) at over $26 million.Bitcoin Bancorp, headquartered in Las Vegas and formerly known as Bullet Blockchain, trades at $0.04 on the OTC Markets, with a market capitalization of about $18.5 million, far below Bitcoin Depot's peak of about $400 million when it was listed on Nasdaq. The company stated that the remaining deliveries are expected to be completed in the next quarter. Data shows that losses from crypto ATM scams reached $389 million in 2025, a year-on-year increase of 58%. The UK's FCA has announced that crypto ATMs are illegal, and regulators in countries such as Australia and Canada have also intensified their crackdowns.

first_img Micron warns that AI storage walls are intensifying, with HBM accounting for about 17% of the interruptions in Meta Llama 3 training

According to TrendForce, at Hot Chips 2026, Micron emphasized that the progress of AI computing power is faster than storage improvements, and the challenge of the "storage wall" is becoming increasingly prominent. Micron Fellow Raghu Sriramaneni pointed out that the computing power of AI accelerators increases approximately threefold every two years, while the bandwidth of HBM increases by less than double during the same period, and the gap may further widen. The deepening reliance on HBM also brings reliability issues; Micron cited Meta Llama 3 data indicating that HBM failures account for about 17% of unexpected training interruptions. New designs that blur the boundaries between computing and storage may help break through the bottleneck.The expansion of HBM also brings area and supply pressures: the latest generation of packaging integrates two GPUs with eight 12-layer HBM4 stacks, with storage accounting for about 90% of the semiconductor area, more than eight times the area occupied by GPUs; achieving equivalent capacity with HBM requires about three times the wafers of standard DDR5 DRAM. Thermal management has also become a key constraint, with solutions such as liquid cooling and ultra-thin chips being explored.Micron is advancing innovations in interconnect, packaging, and cooling, including SerDes and die-to-die PHY optimized for storage, larger size SiP and advanced packaging with glass substrates, as well as liquid cooling and hybrid bonding, and is developing fusion bonding to reduce thermal resistance and enhance data throughput.
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