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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Hayes Dumps HYPE: Arthur Hayes sold all 96,628 of his Hyperliquid (HYPE) tokens, netting $800K despite recently predicting massive gains.

2. Crypto.com Denies Leak: Crypto.com rejected claims it covered up a 2023 user data breach, calling reports “misinformation.”

3. 💡Feature of the Day - CZ Launches Giggle Fund: Binance founder CZ’s Giggle Academy raised $1.3M in one day via $GIGGLE, a memecoin that channels trade fees into education funding.

   
   All this and more in today’s headlines!

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📰 News Highlights:

Hayes Sells HYPE [Source][Source][Source][Source][Source]

Arthur Hayes, co-founder of BitMEX, has sold his entire Hyperliquid (HYPE) token holdings, netting a profit of over $800,000.

On-chain data revealed he offloaded 96,628 tokens, reportedly to fund a Ferrari 849 Testarossa deposit, despite recently predicting a 126x price surge.

His actions highlight the divide between public market predictions and transparent on-chain behavior, sparking debates about credibility and the “do your own research” ethos in crypto.

Despite the sell-off, HYPE remains volatile but strong, up 660% since launching in November.

The Hyperliquid decentralized derivatives exchange continues to grow, with $3.4 billion in trading volume reached in August.

Hayes had previously justified his bullish stance by citing fiat debasement and massive projected growth in stablecoin-driven fees, but his sudden exit leaves traders questioning whether public optimism from key figures aligns with reality.

🎁Freebie:

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Crypto.com Leak Denied [Source][Source][Source][Source][Source][Source]

Crypto.com has denied allegations that it secretly covered up a 2023 user data leak, claiming the accusations are “unfounded misinformation.”

Reports from Bloomberg and blockchain investigator ZachXBT suggested the exchange withheld details from regulators and the public, but CEO Kris Marszalek stated the incident was disclosed appropriately.

The breach reportedly stemmed from a phishing campaign targeting an employee, exposing limited personal data but not customer funds.

The controversy adds to long-standing trust concerns facing centralized exchanges. Critics argue that even if regulators were notified, the lack of transparency leaves users vulnerable and in the dark.

Crypto.com’s history of security incidents, including a $30 million hack in 2022, amplifies scrutiny, with ZachXBT alleging multiple breaches over time.

The debate underscores the delicate balance between regulatory compliance and maintaining user confidence.

💡 Feature of the Day: 

CZ’s Giggle Fund [Source][Source][Source][Source][Source][Source]

Binance founder Changpeng “CZ” Zhao’s new project, Giggle Academy, raised $1.3 million in a single day through a unique memecoin fundraising model.

The $GIGGLE token automatically directs a portion of every trade’s transaction fee in BNB to the academy’s donation wallet.

This decentralized mechanism ensures continuous, transparent funding without creating selling pressure on the token itself.

Giggle Academy’s mission is to provide free K–12 education globally, particularly in underserved regions, covering traditional subjects as well as modern skills like finance, blockchain, and AI.

Nearly 1,000 on-chain donations have already been recorded, showing proof of concept for grassroots, token-powered philanthropy.

😂 Crypto Meme of the Day: 

Meme of the day provided by @thunderdungeon

And that’s it for this today.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com