According to a report by Iran's Mehr News Agency on the 25th, Iranian Parliament member Behnam Saeidi stated that Iran has formulated a comprehensive plan for managing the Strait of Hormuz. In an interview with Mehr News Agency, Saeidi said that a key aspect of the plan is that in all correspondence and commercial documents, only the name "Persian Gulf" will be recognized, and no other name will be accepted. Ships and vessels navigating within the area must obtain permission from Iran. Sovereignty over the Strait of Hormuz will be entirely in Iranian hands. He also stated that ships from countries deemed hostile by Iran's Supreme National Security Council or the General Staff of the Armed Forces will be prohibited from passing through the Strait of Hormuz, and Israeli ships are absolutely prohibited from passing through the area. Ships passing through the area must pay relevant fees for security, environmental protection, shipping management, and permit issuance, with payment primarily in rials. (Xinhua)

In the past hour, total liquidations across the network reached $11.56 million, with $9.90 million from long positions, with $1.66 million from short positions. BTC liquidation $270,620.03, ETH liquidation $272,278.98.

According to Odaily Planet Daily, the lending protocol Purrlend suffered an attack on the MegaETH and HyperEVM networks, resulting in a loss of approximately $1.52 million. The attackers withdrew approximately $1.2 million worth of assets from the HyperEVM network, including 449,683 USDC, 214,125 USDT0, 194,745 USDH, and some UBTC, wstHYPE, UETH, kHYPE, and WHYPE. The attackers also withdrew approximately $324,000 worth of assets from the MegaETH network, including USDT0, WETH, and USDm. Purrlend has suspended the protocol and launched an investigation. The attacker's address has been identified in the block explorers of both networks.

According to Arkham data, the zkPass team's multisignature address (0xEF1) transferred a total of 10,000,000 ZKP tokens to Binance in the past 30 minutes, worth approximately $796,100. The current circulating supply of ZKP is 268 million, and this distribution represents approximately 3.73% of its total circulating supply. ZKP is currently trading at $0.07964, down 7.35% in the last 24 hours, with a current market capitalization of $21.37 million.

According to Huoxun Finance, Fu Peng, the newly appointed chief economist of Xinhuo Group, pointed out in an article that the underlying business model of Bitcoin perpetual contracts is essentially the same as the "deferred fees/overnight fees" of traditional gold and industrial commodity spot exchanges. Fu Peng analyzed that in the early days, gold exchanges settled positions daily through forced liquidation, with long and short positions paying deferred fees to each other. When retail investors held a large number of highly leveraged long positions, deferred fees became the platform's most stable and hidden source of income. Currently, Bitcoin platforms mainly rely on perpetual contracts, with both long and short positions settling funding rates every 8 hours. When the market is dominated by long positions, long-term retail investors continuously pay funding rates to short positions. Although the platform does not directly collect this fee, this model can significantly increase trading activity, open interest, and liquidity, indirectly bringing in substantial transaction fee revenue for the platform, forming a stable and large cash flow. Essentially, it's a business model where large investors/institutions "collect rent" from long-term positions, retail investors pay for leveraged long positions, and the platform indirectly extracts revenue.