Apple's total market cap reaches $5.06 trillion, setting a new all-time high
According to MSX.COM data, Apple's stock price rose 1.74% in early trading to $346.892 per share, with a total market cap of $5.06 trillion, setting a new all-time high.
Bitcoin chain underwent a hard fork and split, Luke Dashjr exits OCEAN to advance the CONVOY project
Odaily News, according to Bitcoin News monitoring, OCEAN operator Mummolin Inc. and co-founder Luke Dashjr issued a joint statement on August 29, agreeing to part ways. Luke Dashjr resigned as OCEAN Chairman, Chief Technology Officer, and Director, and Mummolin bought back all of his equity. Neither party disclosed the transaction amount nor Luke Dashjr's previous shareholding ratio. Both parties stated that the split stemmed from differing visions regarding the future direction of Bitcoin mining.
The BIP-110 dispute subsequently escalated into a split of the Bitcoin chain. BIP-110, also known as the "Data Carve-out Temp Soft Fork," aims to restrict the use of Bitcoin transactions to store non-financial data, including content related to Ordinals. Before the activation period began, only 51 out of 2,016 blocks supported the proposal, accounting for 2.53%, falling below the 55% threshold required for activation.
On August 8, nodes enforcing BIP-110 split from the Bitcoin main chain by rejecting blocks that did not support the proposal. On that day, the minority chain only produced 2 blocks before halting; since then, the chain mined 6 more blocks, bringing the total to 8 blocks. The initial alternative chain blocks were mined by the Roughnecks mining organization using OCEAN infrastructure.
On August 10, other Bitcoin developers removed Luke Dashjr from the editor list of the Bitcoin Improvement Proposal repository, citing his involvement in BIP-110 and its editorial process. Luke Dashjr disputed this and stated that day that he would temporarily leave OCEAN to focus on Bitcoin and open-source development.
Luke Dashjr is currently advancing a new project called CONVOY, using the X account @CONVOY_Mining. This project will continue his push for the decentralization of Bitcoin mining, though its specific structure and launch arrangements have not yet been announced. The X account was created in August 2026 and currently has 0 posts and fewer than 500 followers.
OCEAN was founded by Mummolin and co-founded by Luke Dashjr in 2023, and previously secured a $6.2 million seed round led by Jack Dorsey. OCEAN operates under a non-custodial model, with mining rewards paid directly to miners rather than being held and distributed by the pool. OCEAN also developed the DATUM protocol, designed to give individual miners greater control over the transactions included in blocks they participate in mining. OCEAN stated that it will continue operating its transparent non-custodial mining pool and the DATUM protocol after Luke Dashjr's departure. According to Mempool.space data, OCEAN is still mining on the Bitcoin main chain.
The change proposed by Luke Dashjr altered the proof-of-work algorithm of the alternative chain to Blake2b, which went live on the new chain at approximately 3:00 AM EST on August 30, making it a hard fork of the Bitcoin main chain. The new chain continued from block 961,639, which was mined before the chain stalled, and reduced mining difficulty from 125 trillion to 30 million, a decrease of 99.99%. The new chain produces a block approximately every 4 minutes on average.
Despite the need to replace mining hardware, which is not directly compatible with the SHA-256 algorithm, the new chain quickly attracted over 170 EH/s of hashrate. As of the time of reporting, the Bitcoin main chain hashrate stood at 908 EH/s, while the new chain's hashrate was 177 EH/s. The Bitcoin main chain's hashrate is approximately 5 times that of the new chain. Coins mined on the new chain also require 100 confirmations before transfer, after which their value will be determined by the market.
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Today, U.S. Bitcoin ETFs saw a net outflow of 788 BTC, and Ethereum ETFs saw a net outflow of 29,926 ETH
According to Lookonchain monitoring, today U.S. Bitcoin ETFs saw a net outflow of 788 BTC, with a 7-day net outflow of 8,267 BTC; Ethereum ETFs saw a net outflow of 29,926 ETH, with a 7-day net outflow of 217,087 ETH.
US stock memory sector extends decline, Micron Technology and SK Hynix fall over 5%
Odaily reports that after the U.S. stock market opened, the memory sector extended its decline, with Micron Technology and SK Hynix falling over 5%, while Western Digital and Seagate Technology dropped more than 6%. The banking sector showed mixed performance, with JPMorgan Chase up 1.7%, Goldman Sachs rising over 3%, and Wells Fargo falling nearly 3%.
Coinbase Co-founder Ehrsam Bets on Venezuelan Oil, Targeting 100,000 Barrels Per Day
Odaily News: Primavera, a startup backed by Coinbase co-founder Fred Ehrsam, is planning to enter Venezuela's oil industry and take over operations at multiple local oilfields, with the goal of achieving a production rate of 100,000 barrels of crude oil per day in the near term.Primavera has recently signed multiple contracts with Venezuela's state-owned oil company Petróleos de Venezuela, S.A. and has hired industry executives from Chevron and Occidental Petroleum to oversee infrastructure construction and boost conventional and heavy oil production capacity. Notably, Ehrsam is also a co-founder of crypto investment firm Paradigm, with a personal net worth of approximately $2.4 billion. In addition to Ehrsam, Primavera's investment team includes Iribarren and former Quantum Energy Partners executive Dheeraj Verma. (Bloomberg)
Seven-day loss of $11.27 million, Machi still holds a 25x long position on 7,150 ETH
Odaily reports: According to on-chain analyst Aunt Ai's monitoring, Machi reduced positions twice today, realizing actual losses of $1.01 million and $12,000 respectively. Machi currently still holds a 25x long position on 7,150 ETH, with a position value of approximately $17.86 million, and a liquidation price of $2,472.78, leaving only $26.52 away from the liquidation price. On October 5, Machi was up $5.46 million in profit; now the account balance has only $562,000 remaining, with cumulative losses of $11.27 million over the past 7 days.
Bank of America: A Fed Rate Hike in October Would Be the Biggest Bullish Catalyst for US Stocks
Odaily News: While equity investors around the world are still steering clear of the word "rate hike," Bank of America strategist Michael Hartnett has put forward a counterintuitive judgment: if the Federal Reserve chooses to proactively raise rates in October, it would not be a negative, but could instead become the biggest bullish catalyst supporting risk assets and underpinning US stocks.In Hartnett's view, against the current backdrop, if the Fed remains on hold for too long, bond investors will continue to demand higher term premiums, pushing long-end yields further up and ultimately forcing financial conditions to tighten on their own. Conversely, if the Fed proactively raises rates at its October meeting, sending a hawkish signal to curb inflation risks ahead of time, long-end yields could instead stabilize. In that case, the short-term shock from a rate hike may prove less damaging than the greater harm caused by disorderly bond market volatility. (CLS)
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BTC breaks through 84,000 USDT, 24H gain 0.01%
South Korean stock index plunges, exchange activates sidecar mechanism for KOSPI index
Goldman Sachs: $1.7 Trillion Buyback Wave Will Buffer the Impact of Surging Equity Supply
US media: OpenAI reportedly plans to "revive" Sora
Binance Pool and related services will be discontinued on November 10, 2026
US memory chip stocks extend declines: SanDisk down 6.74%, Micron Technology down over 4%
Macquarie: Accelerating US September CPI Unlikely to Prompt a Fed Rate Hike in October
Korean stocks close down 5.4%, SK Hynix plunges 10%
KB Securities: South Korean Chip Stocks Pullback May Reflect Investors' Doubts About Earnings Sustainability
South Korea's KOSPI index extends decline to over 4%
