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Synthetix (SNX) price risks 10% drop as technicals flag bearish signs
NFT Gaming

Synthetix (SNX) price risks 10% drop as technicals flag bearish signs

by admin September 5, 2025



SNX price looks set for a deeper correction as technicals remain bearish for the asset, while its algorithmic stablecoin sUSD fails to maintain its peg to the U.S. dollar.

Summary

  • SNX price is down 10% over the past 7 days.
  • Synthetix’s sUSD stablecoin lost its peg to the U.S. dollar.
  • Price action has been confined within a descending parallel channel.

According to data from crypto.news, Synthetix (SNX) was trading at $0.66, down 9.5% over the last 7 days and 70% under its year-to-date high.

The main reason why SNX has been in a downtrend is the ongoing crisis in its sUSD stablecoin.

The stablecoin has failed to maintain its peg to the U.S. dollar ever since it introduced changes to how sUSD is issued and backed under an improvement proposal in April 2025.

The stablecoin’s price fell as low as $0.73 shortly following the move. While it managed to recover to $0.97 over the next two months, the stablecoin’s price faced another major drop to $0.841 in July. At press time, sUSD was trading at $0.987, still short of its intended $1 peg.

sUSD’s failure to maintain its peg reflects a critical protocol weakness, which could continue to weigh on investor sentiment and dampen confidence in the broader Synthetix ecosystem.

Data from CoinGlass shows that open interest for SNX has dropped by 1% to $19.6 million, while the long/short ratio has fallen below 1. It reveals that a growing number of traders are positioned bearishly on SNX in the short term.

SNX had been trading within a descending parallel channel for the past week on the 4-hour chart. A descending parallel channel is formed when an asset’s price forms lower highs and lower lows. This is considered a solid sign of bearish continuation.

SNX price has formed a descending parallel channel on the 4-hour chart — Sep. 5 | Source: crypto.news

When adding the Moving Average Convergence Divergence indicator to the mix, it had also turned downward. As such, it is safe to say the momentum for now would most likely be bearish.

On top of this, the RSI was at 45, which places it within neutral-to-weak territory, which is another confirmation that the price may continue heading downwards from current levels.

Considering the above, SNX is likely to target the $0.60 support level, which marks a 10% drop from the current price level.

If this support fails to hold, it could open the door to further losses, with a potential retest of its August low of $0.54 possible. 

Conversely, a breakout above the upper boundary of the descending channel would invalidate the bearish setup and could signal the beginning of a short-term trend reversal.



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September 5, 2025 0 comments
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Grok's Tips On How to Assassinate Elon Musk Are One More Red Flag For Wall Street
Product Reviews

Grok’s Tips On How to Assassinate Elon Musk Are One More Red Flag For Wall Street

by admin August 27, 2025


Wall Street tech watchers that had only recently recovered from Elon Musk’s AI chatbot going rogue are now quietly reassessing the technology, after a new leak of thousands of user conversations show it teaching people how to make drugs, assassinate Musk himself, and build malware and explosives.

Luckily for xAI, the company that created Musk’s AI chatbot Grok, the chatbot in question, it is not a publicly traded company, so no public investor or shareholder backlash has forced down its share price or pressured its executives over privacy concerns.

But the extent of the leak has made it headline news for days and has sounded new alarms with privacy experts, who have already had a long summer filled with misbehaving tech and the companies, or billionaire moguls, that make it.

So what did Grok do now?

More than 370,000 user conversations with Grok were publicly exposed through search engines like Google, Bing and DuckDuckGo on Aug. 21. That led to the posting of a wide range of disturbing content and sent its creator, xAI, scrambling to contain the fallout and fix the malfunction that reportedly caused the leak.

What kind of disturbing content? Well, in one instance, Grok offers up a detailed plan on how to assassinate Musk himself, before walking that back as “against my policies.” In another exchange, the chatbot also helpfully pointed users to instructions on how to make fentanyl at home or build explosives.

Forbes, which broke the story, reports that the leak stemmed from an unintended malfunction in Grok’s “share” function, which allowed private chats to be indexed and accessed without user consent.

Neither Musk nor xAI responded to a request for comment. Its creator has not yet publicly addressed the leak.

So how detailed is detailed?

In this instance, pretty detailed.

“The company prohibits use of its bot to “promot[e] critically harming human life or to ‘develop bioweapons, chemical weapons, or weapons of mass destruction,’” Forbes reports.

“But in published, shared conversations easily found via a Google search, Grok offered users instructions on how to make illicit drugs like fentanyl and methamphetamine, code a self-executing piece of malware and construct a bomb and methods of suicide,” it said.

Wait, what was that about assassinating Elon Musk?

Yes, Forbes says that is also in this leak, and it was reportedly a pretty extensive plan.

“Grok also offered a detailed plan for the assassination of Elon Musk,” Forbes’ reporting continues. “Via the ‘share” function,’ the illicit instructions were then published on Grok’s website and indexed by Google.”

A day later, Grok offered a modified response and denied assistance that would incorporate violence, saying, “I’m sorry, but I can’t assist with that request. Threats of violence or harm are serious and against my policies.”

When asked about self-harm, the chatbot redirected users to medical resources, including the Samaritans in the UK and American mental health organizations.

It also revealed that some users appeared to experience “AI psychosis” when using Grok, Forbes reports, engaging in bizarre or delusional conversations, a trend that has been raising alarms about the mental health implications of deep engagement with these systems since the first chatbot became public.

How could Grok be used in a business setting?

Musk’s chatbot caught Wall Street’s eye pretty much as soon as it debuted in November 2023, But what xAI says it can do and what it actually has done continue to be in flux.

The company says that Grok offers a range of functions that can be valuable for business operations, like using tools to automate routine tasks, analyze real-time market data from X, and streamline workflows through its application programming interface (API).

The ways it could actually be used by businesses varies, but investors who have been kicking the tires on this particular chatbot have continued to raise concerns about its accuracy. The way the chatbot handles privacy has also been an issue, but is now front and center for experts.

“AI chatbots are a privacy disaster in progress,” Luc Rocher, an associate professor at the Oxford Internet Institute, told the BBC.

Rocher said users who disclosed everything from their mental health to how they run their businesses are another example of how chatbots are handling private data, despite how public that data may one day become.

“Once leaked online, these conversations will stay there forever,” they added.

Carissa Veliz, an associate professor in philosophy at Oxford University’s Institute for Ethics in AI, told the BBC that Grok’s “problematic” practice of not disclosing which data will be public is concerning.

“Our technology doesn’t even tell us what it’s doing with our data, and that’s a problem,” she said.

Grok has also been studied by analysts and researchers to test if it has the potential to increase productivity, but how reliable it is at relaying correct information remains a work in progress. Without consistently true and verifiable information, it is likely still too nascent to do much without having serious oversight over its possible accuracy or bias.

For many analysts and advisers, that makes investing in Grok a proceed-with-caution scenario.

“Speculation isn’t bad, but unmanaged speculation is dangerous. Grok is a hot story, but it’s still early stage,” Tim Bohen, an analyst at Stocks to Trade, writes. “The model could stall. The platform could underperform. The hype cycle could peak before fundamentals catch up. Traders need to know the risks.”

Musk previously flamed ChatGPT for a similar leak

In a classic episode of Musk’s ongoing telenovela with the world, OpenAI also experimented briefly with a similar share function earlier this year. It stopped that quickly after around 4,500 conversations were indexed by Google and issue grabbed media attention. But the problem had already caught Musk’s attention, leading him to tweet, “‘Grok FTW.” Unlike OpenAI, Grok’s “Share’”

Users who have now found their private conversations with Grok leaked told Forbes they were shocked by the development, particularly given Musk’s earlier criticism of a similar tool.

“I was surprised that Grok chats shared with my team were getting automatically indexed on Google, despite no warnings of it, especially after the recent flare-up with ChatGPT,” Nathan Lambert, a computational scientist at the Allen Institute for AI who had his exchange with the chatbot leaked, told the Forbes.

No word from Musk or OpenAI’s Sam Altman on who gets FTW this time.



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August 27, 2025 0 comments
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Justin Sun, founder of Tron
Gaming Gear

Crypto Bros’ ‘Startup Nation’ Wants to Plant a Flag on an Asteroid

by admin August 26, 2025


The “Network State” movement, described by its detractors as a “cult,” is an ideological movement that seeks to create privately owned, anarcho-capitalist, “autonomous” communities. One such community, the Republic of Liberland, recently made two announcements that its denizens seem to think are quite exciting: 1) Liberland has a new “prime minister” in the form of crypto billionaire Justin Sun, and 2) the bold explorers of Liberland plan to express their collective spirit of adventure by planting a flag on an asteroid.

First, the Sun thing. Sun, who is the founder of the Tron blockchain and is so rich that he once bought (and ate) a $6 million banana, was actually voted in as Liberland’s PM last October. Since then, it’s not entirely clear what Sun has been doing, although the community appears to be pushing for greater legitimacy and political influence. Liberland, whose community was originally founded in 2015, actually lays claim to an area of physical land between the borders of Serbia and Croatia, although Croatian border police are, according to Wired, not known to recognize the settlement. Its community is tied together largely by libertarian sentiments and an affinity for crypto. Wired writes:

Over the years, Liberland has been funded in large part by wealthy crypto donors, attracted by the prospect of a state built around the same libertarian principles on which crypto was founded. Liberland has itself released two crypto coins—one as a medium of exchange and the other for voting in elections—and developed its own national blockchain.

Alternative economic systems may be an overarching theme, but lately, Liberland’s biggest priority seems to be launching its brand into outer space. This brings me to the fledgling country’s other exciting development: its mission to plant a flag on an asteroid.

To be clear, Liberland has already planted a flag in space—although the flag sounds like it may have been more akin to an NFT than an actual flag. Indeed, according to the micro-nation’s website, a version of its flag was planted on the moon in March by a mission flown by Firefly Aerospace, an American rocket company. However, the flag is described as being “part of a digital artifact collection housed within the LifeShip Pyramid.” Not familiar with the LifeShip Pyramid? It’s a “specially designed capsule ensuring its [contents] preservation in the Moon’s harsh environment.” LifeShip, itself, is a company whose primary service is to collect a swab of your saliva, extract your DNA, and then send it to the moon.

Stop me when your brain starts hurting.

Anyway, the “digital artifact collection” thing makes Liberland’s moon flag sound somewhat dubious, but the country also has another lunar mission scheduled to occur at some point in the next few months: “A second lunar mission is scheduled later this year, again carrying a physical Liberland flag to reinforce our symbolic mark on the Moon,” the nation’s website says. The nation also has plans to plant a flag on an asteroid. “Liberland is embarking on its most daring adventure yet: a commercial Lifeship mission to a near-Earth asteroid,” the website says. “On this mission, the Liberland flag—bearing engravings of citizen names—will travel into deep space, marking the first commercial asteroid mission to carry a national flag, and highlighting our pioneering spirit.”

If all of this sounds really cool to you, there’s still a chance for you to get your name engraved on that asteroid flag by giving Liberland money (registered residents can qualify if they donate $2k to the cause), or, if you’re not a Liberland denizen, by registering to be one by September 4th. Gizmodo reached out to Sun and the Free Republic of Liberland for more information.

The Liberlanders’ website makes them seem almost cute in their preoccupations with bloodless (largely digital) colonialism, but there’s a sense beneath it all that these are people with way too much money and time on their hands. Indeed, planting a flag on an asteroid actually sorta seems like a good metaphor for the Network State movement writ large—a symbolically laden but rather pointless activity that will cost a lot of money and be logistically near-impossible to achieve.



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August 26, 2025 0 comments
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Last Flag gets demo on Steam
Esports

Last Flag gets demo on Steam

by admin August 26, 2025


If you’ve been looking for a change of pace, Last Flag is a good place to start. This 5v5 capture-the-flag shooter was an intriguing part of GamingTrend’s SGF, and is 100% worth checking out. Now that it has a demo on Steam, you can dive in for the price of free and give it a look.

Last Flag hands-on preview — Professional hide and seek meets Overwatch

Or maybe Team Fortress 2 meets invisible Capture the Flag?

August 25, 2025–Independent developer Night Street Games today announced that Last Flag, the team’s upcoming 5v5 capture-the-flag shooter, is now available in a free limited-time demo on Steam from August 25–September 1 as part of Steam’s Third-Person Shooter Fest.

Last Flag on Steam

Hide your flag. Find the enemy flag. Run it back, then defend for a minute to win it. Welcome to Last Flag: a fast-paced 5v5 shooter with showstopping contestants, set in a televised competition where strategy, teamwork, and chaos blend in the ultimate game of Capture the Flag.

Players everywhere can now jump in, select from a colorful cast of over-the-top characters, and battle in fast-paced matches that deliver the fun of capture the flag as it was meant to be–with actual hiding and finding. Last Flag is different from the CTF modes you’ve experienced in other shooters as teams hide their flag at the start of each match, kicking off a chaotically fun game of hide-and-seek that is equal parts action and strategy. 

Players can join the fray today and find a contestant that fits their playstyle. Devastate opposing defenses with a blast from Alejandro’s Bunker Buster Bazooka, slice and dice foes from the shadows as Soo-Jin, or teleport your problems away with Camila’s Quantum Entanglement Ray. 

Last Flag features music that captures the unique vibes of the 1970s, crafted with real vintage gear by Dan Reynolds (Imagine Dragons), Grammy-nominated producer/writer JT Daly (Benson Boone, K.Flay, Bully), and Dave Lowmiller (Call of Duty: Modern Warfare, Battlefield, Dead Space).

Currently in development, Last Flag is launching in 2026 on Windows PC via Steam and the Epic Games Store. Console platforms are in the works.

Join the Community

Players can squad up, trade strategies, and connect with the Night Street Games team on the official Last Flag Discord community: https://discord.gg/lastflag. 

Capture a highlight clip worthy of a post-match victory celebration? Be sure to tag @playlastflag on your favorite social platform as we’d love to see it!

Stick Around For More

When the demo concludes on September 1, Last Flag will re-enter closed playtesting, but your fun doesn’t have to end. Sign up to secure future access by joining the wait list at www.lastflag.com.

Stay tuned to GamingTrend for more Last Flag news and info!


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August 26, 2025 0 comments
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Rory McIlroy -- Cleaned out Masters Shop with 1,100 flag buys
Esports

Rory McIlroy — Cleaned out Masters Shop with 1,100 flag buys

by admin August 24, 2025



Aug 19, 2025, 05:27 PM ET

ATLANTA — Rory McIlroy didn’t leave Augusta National as the Masters champion without one last purchase from the gift shop.

He said there were 1,100 pin flags remaining in the Masters Shop.

“And we took all 1,100,” McIlroy said Tuesday ahead of the Tour Championship, the end of a PGA Tour season that has been his most memorable to date all because of one Sunday in April.

“It’s been a lot,” he said of the flags he has signed. “But I’ll never get sick of signing them. I’ve waited 17 years to sign that flag in the middle, and I will never complain about doing it.”

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Players sign flags all the time for fans, but the golf protocol is that only the Masters champion signs his name inside the outline of the U.S. that is part of golf’s most famous logo.

It has been just over four months since McIlroy delivered an exhilarating end to his 17-year pursuit of winning the green jacket, making birdie on the first playoff hole to beat Justin Rose and complete the career Grand Slam.

He hasn’t won since then, and at times he has talked about finding motivation. But being the Masters champion doesn’t get old. He already is planning some trips to Augusta National, a luxury afforded the champion, including one with his dad.

If anything surprised him, it was the one-year ownership of the Masters green jacket.

He hardly ever wears it.

McIlroy said he wore it all night until he went to bed at about 3:30 a.m., and then awoke and went through sensations so many others have. He saw the jacket draped over a chair, a reminder that it all wasn’t a dream.

He wore it during a brief appearance at the Association of Golf Writers’ dinner during the British Open. Otherwise, the occasions have been rare.

“I’m reluctant to wear it,” he said. “It’s not as if I wear it a lot. I have it hanging in my wardrobe in a place where I can see it every day. I always thought if I had one — if I did win the Masters one day — I’d never have the thing off, and it hasn’t been that way. I haven’t worn it as much as I thought I would.”

McIlroy said he has trips planned with friends and some Augusta National members with whom he has become friends over the years. He would be required to wear his green jacket at the club, which most likely won’t require anyone twisting his arm.

“I’ve always said some of my favorite times at Augusta were when it wasn’t the Masters Tournament,” he said, referring to the times he went there before the Masters for practice rounds. “But it’ll be lovely to next time go there and go up to the champions locker room and put on my green jacket and feel like I belong.”



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August 24, 2025 0 comments
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Fed Rate Social Media Mentions Surge Is A Red Flag For Crypto
Crypto Trends

Fed Rate Social Media Mentions Surge Is A Red Flag For Crypto

by admin August 24, 2025



The surge in social media chatter around the highly anticipated US Federal Reserve September interest rate decision could be a warning sign for crypto, says sentiment platform Santiment.

It comes after the crypto market rallied on Friday and market sentiment returned to greed following Fed Chair Jerome Powell’s dovish remarks at the annual Jackson Hole economic symposium. He hinted that the first rate cut of 2025 could come in September.

“Historically, such a massive spike in discussion around a single bullish narrative can indicate that euphoria is getting too high and may signal a local top,” Santiment said in a report on Saturday. The firm said that social media mentions of keywords tied to the Fed and interest rate cuts have jumped to their highest level in 11 months.

Santiment urges caution as analysts are divided

“While optimism about a rate cut is fueling the market, social data suggests caution is warranted,” Santiment said. 

Santiment has detected an increase in mentions of the keywords: Fed, rate, cut, and Powell. Source: Santiment

Powell said during his speech on Friday that current conditions in inflation and the labor market “may warrant adjusting” the Fed’s monetary policy stance. According to the CME FedWatch Tool, 75% of market participants expect a rate cut at the September meeting.

Many crypto analysts have based their crypto market forecasts on the Fed’s decisions throughout this year. While some see a rate cut as a potential bullish catalyst, others are divided on the outcome.

Source: Coinbase Institutional

After Powell’s speech, crypto trader Ash Crypto said, “the Fed will start the money printers in Q4 of this year,” along with two rate cuts, which means “trillions will flow into the crypto market.”

“We are about to enter parabolic phase where Altcoins will explode 10x -50x,” Ash Crypto said.

Analyst warns crypto may face short-term pressure

Others suggest that the crypto market may not immediately see the impact of a Fed rate cut.

On April 11, 10x Research head of research Markus Thielen said, “Expecting a bullish impulse is too early.” He said that while a longer-term price opportunity for Bitcoin (BTC) could emerge, it may face short-term pressure driven by recession fears.

Related: BTC climbed to 1.7% of global money before Fed chair signaled rate cut

Meanwhile, some say that if the Fed takes no action this year, it could lead to headwinds for the crypto market.

On March 9, network economist Timothy Peterson warned that if the Fed holds off on rate cuts in 2025, it may cause a broader crypto market downturn.

Magazine: Can privacy survive in US crypto policy after Roman Storm’s conviction?



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August 24, 2025 0 comments
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