[Strategy Counterparty Long Position Reaches $309 Million] According to Hyperbot data, over the past approximately 18 hours, the 'Strategy Counterparty' address has undergone multiple rounds of adding and reducing positions. It currently holds long positions in BTC, ETH, SOL, and XRP, with a total position size now increased to $309 million and unrealized profits of approximately $400,000. Over the past week, the total profit and loss for this address is approximately +$4.34 million, with a total account balance of around $31.1 million. After opening positions last December, this address became the largest BTC short seller on-chain by adding short positions in major cryptocurrencies like BTC and ETH.

[FTX-Related Class Action Dismissed, Lawyers Receive $650,000 in Fees] FTX Historian posted on platform X that a class action related to FTX has been dismissed, with claimants receiving no compensation and the representing lawyers receiving $650,000. The Ontario Teachers' Pension Plan had invested $95 million in FTX, and the lawsuit accused the fund of failing to conduct proper due diligence on the investment. Additionally, former FTX customers in the U.S. have initiated a similar lawsuit against FTX shareholders.

According to the heat ranking, ZEC's popularity has increased by 60000 followers compared to yesterday, ranking first. The heat ranking is as follows: ① ZEC （$434.30，6.25%） ② Binance Life ($0.1415, 19.01%) ③ ETH （$3098.03，-0.25%） ④ ZKP ⑤ XAG The purchasing power of ZEC's main funds is average, with a net inflow of $59.6917 million within 24 hours and a transaction volume of $4.18 billion within 24 hours, of which the net inflow of the main funds is $19.2888 million.

[Amber Group Deposits 5,800 ETH into Copper] According to Onchain Lens monitoring, 4 hours ago, Amber Group deposited 5,800 ETH into Copper, valued at approximately $18.06 million.

**[Gate Research Institute Report Analyzes Wallet Evolution and the On-Chain Transformation Trend of CEX]** Gate Research Institute has released the report *"The Evolution of Crypto Wallets and the On-Chain Transformation of CEX"*, which reviews the journey of wallets evolving from Bitcoin-era private key and signature tools to becoming the core gateway of on-chain finance. The report highlights that DeFi Summer propelled wallets from low-frequency asset management tools to critical gateways for dApps. After 2022, All-In-One wallets became mainstream, demonstrating their capabilities in high-frequency scenarios such as inscriptions and memes, gradually strengthening control over transaction pathways and traffic distribution. The report also mentions that as the wealth effect of VCcoins diminishes and new on-chain assets and high-yield opportunities spill over, the traditional model of CEX users staying long-term on exchanges is being challenged. This has driven CEXs to accelerate their on-chain strategies, exploring embedded wallet solutions to extend compliance, fiat channels, and user scale into the on-chain ecosystem. Using Gate Web3 as an example, the report points out that the on-chain transformation of CEX is not a simple replication of non-custodial wallet models. Instead, it deeply integrates account systems, trading capabilities, and on-chain applications while preserving user asset sovereignty, thereby enhancing asset retention and user lifecycle value. Gate Research Institute believes the industry is entering a phase of functional restructuring, where financial capabilities are migrating to wallets through on-chain and modular approaches. CEXs are responding to boundary shifts by binding themselves to ecosystems through on-chain transformation.