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Sonnet BioTherapeutics has confirmed shareholder approval for its merger with Rorschach LLC, and the vote clears the path for creating the first large Hyperliquid digital asset treasury. The decision caused a massive spike in the HYPE token which soared close to 10% with the markets reacting to the incoming institutional demand. The development also augments the momentum for Hyperliquid’s expansion at large. Insert dramatic music here 🎵

According to Cayman Finance, the islands now host at least 17 foundation companies with treasuries over $100 million. 🏦 Why? Because the Cayman foundation company is the Swiss Army knife of legal structures-perfect for signing contracts, hiring contributors, holding IP, and dancing with regulators, all while shielding tokenholders from personal liability. 🛡️

Yi He, the former TV host, is now in charge of marketing, user growth, and product innovation. Because nothing says “innovation” like a guy who used to host a show about… well, whatever they show in China. And Richard Teng, the ex-Singapore regulator, is handling compliance. Because nothing says “trust me” like a guy who used to regulate something. 🤡

According to Axel Adler’s data (who sounds like someone who might just know what they’re talking about), there’s been a huge shift in the game. The liquidation dominance oscillator is now sitting at a whopping 32%, the highest it’s been in years. This means that the poor bulls are taking a beating, with their long positions getting wiped out faster than a cake at a birthday party. 🍰

The past week began with such promise, a bullish outlook that made even the most jaded investors crack a smile. 😏 But alas, the rally was as fleeting as a summer breeze in a Moscow park. Now, CC is in freefall, its decline more pronounced than a drunkard’s stumble on a cobblestone street. 🍷🤏→🤕

The broader weakness? A golden invitation for those with gullets wide enough to swallow fortunes. The market’s frailty became their feast, and feast they did.

Picture this: banks and learned institutions, guardians of trust and order, now delegate their precious tokens-Solana, Near Protocol, Cardano, and Tezos-to Everstake’s esteemed validators. All the while, they clutch their private keys like a miser clutching gold coins, maintaining control amidst the dance of decentralization. 😂🔐

This rally, fueled by a breakout so sharp above $175, saw volume spike 295% in a single hour during the U.S. session. AAVE’s intraday range of $24.90, from $164.28, is a testament to its vigor, a 35.66% increase in volume compared to its seven-day slumber. 📊

President Nawrocki refused to sign the Crypto-Asset Market Act, stating its provisions “genuinely threaten the freedoms of Poles, their property, and the stability of the state,” according to official statements from his press office. The president’s main concern centered on a provision that would allow the Polish Financial Supervision Authority (KNF) to block cryptocurrency websites with “one click.” Imagine a librarian with a sledgehammer. 🤚

At last check on Tuesday, it was up 12.7% to $13.40 – a welcome bounce for an asset that’s been slogging through a rough year. Like a toddler on a sugar rush, it’s finally getting some attention. 🍬