Odaily reports: New York-based startup Birch Hill has announced the completion of a $4 million seed funding round led by Multicoin Capital, with participation from ParaFi Capital, Castle Island Ventures, and Nascent. To date, the company has raised a total of $6.5 million. Birch Hill currently serves as a vault manager for the onchain lending protocol Morpho, where it is responsible for assessing credit risk and setting related risk parameters. The company has also applied to the Financial Industry Regulatory Authority (FINRA) for broker-dealer registration in order to sell private credit products to accredited investors, and plans to securitize and bring onchain US multifamily residential, agricultural, and energy loans. (Decrypt)

1. Pump.fun launches Pre-IPO token trading, supporting 8 companies including OpenAI and Anthropic;2. Papertrade keeps PAPER token non-transferable due to perpetual contract attack risks, and has not yet announced when trading will open;3. The U.S. Blockchain Association supports the Treasury Department's GENIUS Act implementation rules and calls for clear regulatory requirements for stablecoin issuance and sales;4. Mastercard launches stablecoin security tools to support payment fraud and sanctions risk screening;5. Strive's holdings increase to 36,818 bitcoins, with 1,223 purchased from last Wednesday to Friday;6. Micron Technology will hold a technical webinar on October 21, during which it will introduce the company's multi-generation technology roadmap, customer co-design, and long-term research layout;7. Managing $2.7 billion in assets, Multicoin Capital remains committed to crypto investing and holds its largest position in HYPE;8. With about 100% of votes in favor but not yet reaching the quorum, ENS DAO initiates voting on the ENSv2 mainnet activation proposal;9. Echo Protocol will gradually shut down the protocol, and core businesses such as lending and strategies have stopped accepting new funds;10. Sophon officially confirms that the mainnet will be shut down on November 30, and users need to withdraw assets before November 25.

Odaily Report: Spencer Applebaum, General Partner and Co-Head of Venture Investments at Multicoin Capital, said that Multicoin Capital manages $2.7 billion in assets, will not follow institutions such as Paradigm in expanding its investment scope into AI and robotics, and will continue to focus on the digital asset sector. Regarding the "crypto + AI" concept, Applebaum said that some investors are looking for problems at the intersection of crypto and AI that do not actually exist. In response to the slowdown in capital deployment, he said that in 2023, most seed-round projects had post-money valuations of about $30 million and raised about $3 million, and that using a $422 million fund to invest in such rounds requires more time. In addition, the largest position of Multicoin Capital's hedge fund is the Hyperliquid-related token HYPE, all of which was purchased through the public market; the firm typically holds publicly traded assets for several years.

Odaily reports that Kyle Samani, co-founder of Multicoin Capital, has announced that his largest personal angel investment has gone to Backpack. On September 2, Backpack announced that Kyle Samani has joined the Backpack US board of directors. Samani has long focused on DeFi, blockchain infrastructure, and the development of global capital markets. Backpack stated that this appointment reflects a shared conviction between both parties: the future of global finance will combine institutional-grade risk controls with the efficiency and transparency of on-chain markets.

1. Multicoin Capital: HYPE remains its largest holding;2. Strategy's market cap surpasses YouTube competitor Rumble, Strive has surpassed over 140 listed companies in the past month;3. Pump.fun holds $2.8 billion in on-chain assets, of which $2.19 billion is in PUMP tokens;4. Citi raises AMD (AMD.O) price target from $575 to $800;5. Hong Kong government reiterates commitment to submit crypto asset licensing bill amendment by end of 2026;6. Fortitude secures priority allocation of Bitmain's next-generation Zcash miners, procurement scale could reach $100 million;7. Analyst: Bitcoin breaks through key cost line, majority of market funds enter profitable range;8. Cathie Wood: Investors should watch AI Agent capital flows, machine payments may become the next indicator of AI adoption.

Odaily reports that Spencer Applebaum, Co-Head of Venture at Multicoin Capital, disclosed that HYPE remains Multicoin Capital's largest holding. Prediction markets show a 68% probability that HYPE will reach $100 in October.

Odaily星球日报讯 据 Onchain Lens 监测，Multicoin Capital 钱包向 Coinbase Prime 存入 9.24 万枚 HYPE，价值约 834 万美元，疑似将出售。

Odaily: DePIN project Grass has announced an investment from Multicoin Capital's hedge fund and venture fund. The amount and round were not disclosed. The project uses crypto incentives to encourage users to share idle network bandwidth, providing AI labs with public internet data querying, parsing, and real-time retrieval services.

Odaily reports: Multicoin Capital has published an article stating that bringing RWAs on-chain not only expands the scale of underlying assets but also further amplifies on-chain economic activity through financial demands such as spot trading, buybacks, hedging, and structured products.Multicoin believes that the related value will be distributed across the entire DeFi tech stack, with L1/L2 benefiting from continuous financial state updates, core protocols such as exchanges, lending, interest rates, and options capturing fees, and DeFi-native prime brokers gaining value through cross-protocol collateral integration and trade execution.Furthermore, as institutional block trades increase, privacy transactions and cross-margin will become key infrastructure. Solutions such as Renegade, Silhouette, and Zama are exploring ways to conceal trading intent, while cross-margin can reduce capital occupation through cross-asset netting.

Odaily reports that according to Onchain Lens monitoring, over the past 6 hours, Multicoin Capital transferred 441,000 HYPE worth approximately $35.31 million to Coinbase Prime through 4 wallets, suspected to be for sale.