In the past hour, total liquidations across the network reached $11.94 million, with $1.28 million from long positions, with $10.66 million from short positions. BTC liquidation $3.55 million, ETH liquidation $816,158.56.

Odaily Planet Daily reports that China Poly Group Corporation has issued a statement saying that it has recently become aware of illegal activities conducted by individuals impersonating Poly Group and its subsidiaries, including using apps and websites for gold trading, involving fraudulent registration and false advertising. The Yaoye River Basin Ecological Governance Project Office has also been impersonating Poly Group and its subsidiaries to conduct construction activities for the Ningdongta Coal Mine tailings remediation project and to make false claims. Poly Group solemnly declares that it and its subsidiaries have not organized or participated in any of the aforementioned project's construction activities, nor have they authorized or instructed the Yaoye River Basin Ecological Governance Project Office or related personnel in any way; all its actions are unrelated to Poly Group. Poly Group has not established any gold, crude oil, or other commodity trading platforms or investment websites; the webpage shown below is a fake trading platform impersonating Poly Group. Poly Group reminds the public to be vigilant, carefully verify information, and exercise caution when conducting investment cooperation. If any illegal or criminal activities are discovered, please report them to the police as soon as possible. (Jinshi)

According to Iranian media Fars News, reports that Iran is charging tolls for passage through the Strait of Hormuz in cryptocurrency are inaccurate. (Jinshi)

Odaily Planet Daily reports that Iranian Justice Chief Justice Ejai posted on social media that the display of strength by the Iranian armed forces in the Strait of Hormuz was "proud." He stated that on the 22nd, three more vessels violating regulations were taken into custody in this strategic waterway. Ejai claimed that "the Americans dare not approach the Strait of Hormuz," and added that "they have already seen the fate of those two so-called super-advanced destroyers, the USS Michael Murphy and the USS Peterson." He also stated that a "swarm" fleet of speedboats and drones from the Iranian Islamic Revolutionary Guard Corps is deployed from caves around Frolul Island, maintaining vigilance against US warships and attempting to strike them through "saturation" suppression tactics. (CCTV News)

According to a report by the Bank for International Settlements (BIS), cryptocurrency exchanges are increasingly offering banking-like services, such as lending and yield products (Earn), but lack the regulation and deposit protection found in traditional financial systems, posing a potential systemic risk. The report states that these high-yield products are essentially closer to "unsecured loans," with user assets often used by the platform for high-risk operations such as lending, trading, or market making. Users only have a claim against the platform, and if the platform encounters problems, users will be directly exposed to repayment risks. The BIS also indicates that leading cryptocurrency platforms have evolved from single exchanges into "multi-functional intermediaries," integrating the functions of banks, brokerages, and exchanges, but lack transparency and risk isolation mechanisms. The previous collapses of Celsius Network and FTX are typical examples of this structural risk. Furthermore, the report mentions the cryptocurrency market flash crash in October 2025, which triggered approximately $19 billion in forced liquidations, highlighting the chain reaction risks under high leverage and opaque structures.