Huoxun Finance reported on October 11th that Galaxy Digital completed a private placement at $36 per share, issuing approximately 9 million new shares and selling approximately 3.8 million shares to management (including CEO Mike Novogratz). The transaction is expected to close on October 17th, subject to approval by the Toronto Stock Exchange. The funds will be used for general corporate purposes and the next phase of construction at the Helios campus in Dickens County, Texas. The campus, which was converted from a Bitcoin mining facility into a high-performance computing data center for CoreWeave, is expected to be online in the first half of 2026 and will support tens of thousands of high-end AI servers. Galaxy previously secured $1.4 billion in project financing and signed a 15-year lease with CoreWeave, with annual revenue expected to exceed $1 billion. The project could become one of the largest data centers in the United States.

Huoxun Finance reported on October 11th that around 5:30 AM today, Ethena's USDe stablecoin experienced a significant decoupling. The USDe/USDT price on Binance plummeted to as low as $0.65. It has since recovered to normal levels. EthenaLabs stated that USDe experienced secondary market price fluctuations due to market volatility and a series of liquidations. Ethena stated that USDe minting and redemption are operating normally, and assets remain overcollateralized. Due to liquidations, perpetual swaps are trading below spot, resulting in Ethena generating additional unrealized profit and loss (uPNL) on short positions, which are being converted into protocol revenue. USDe will be even more overcollateralized than yesterday.

According to Odaily Planet Daily, LookonChain monitoring shows that the Bitcoin OG whale, who previously shorted BTC and ETH, has closed most of its short positions, making a profit of over $160 million in 30 hours. It currently holds a short position of 821.6 BTC (worth $92 million).

Odaily Planet Daily News Chain data analyst MLM Yu X wrote in a post that the market's circulating liquidation figures are incorrect, and the actual number is likely much higher, ranging from $30 billion to $40 billion or even higher. On Hyperliquid alone, nearly $7 billion was liquidated.

According to Odaily Planet Daily, Primitive Ventures founder Dovey published a post on the X platform, speculating that the recent market crash was caused by a large-scale margin call on Binance by a large institution (possibly a cross-margin trading firm). While further analysis is needed, preliminary data indicates that the price of USDe on Binance plummeted to as low as $0.6, while prices on other exchanges remained relatively strong. Furthermore, there has been a significant discrepancy in trading volume between tokens listed on Binance and those not listed on Binance.