The combined exchange went live on seven networks including Ethereum, Arbitrum and Robinhood Chain, and lets stakers steer its liquidity rewards toward the markets they expect to earn fees.
Aerodrome and Velodrome merge into Aero, sending all exchange revenue to stakers
Posted October 21, 2026 at 8:00 pm ET.
Aero, the decentralized exchange formed by combining Aerodrome and Velodrome, went live on Wednesday across seven networks, developer Dromos Labs said in a press release. All of the revenue the exchange earns at launch is paid to holders of staked AERO, known as sAERO.
The launch carries the model the two exchanges ran on Base and OP Mainnet over to Ethereum Mainnet, Arbitrum, Robinhood Chain, Ink and Arc. Aero said the seven networks together saw about $120 billion in DEX volume in the 30 days to Oct. 14, close to four times the figure for Base and OP Mainnet on their own.
“Every market is coming onchain, and any institution that can be distilled into code will be. Their margin is our opportunity,” said Alex Cutler, CEO and founder of Dromos Labs. He added that “100% of the revenue it earns goes back to the people who stake AERO.”
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Stakers Pick the Markets At the center of the design is Predictive Allocation, which the release said borrows from prediction markets. Stakers direct Aero’s liquidity-rewards budget toward the markets they think will produce revenue, then receive a proportional cut of what those markets earn, paid out in real time. Those who back a market early and correctly stand to gain the most, according to the company.
Liquidity providers can take trading fees directly or opt for a stream of AERO instead. AERO rewards are set in dollar terms and can rise with a pool’s activity, and token issuers or other protocols can pay to deepen markets they want to support. Aero also shipped Metaswaps for cross-chain swaps in a single transaction, an upgraded concentrated-liquidity engine called Slipstream V3 with dynamic fees, and an optional Autopilot tool that automates sAERO allocations.
The Track Record Aero Cites Aero pointed to its predecessors’ numbers. It said Aerodrome handled 58% of DEX trading on Base in the third quarter and Velodrome 60% on OP Mainnet, and that Aerodrome’s share of tokenized-stock trading on Ethereum and its layer-2 networks climbed from roughly 2% at the start of September to 57% by Oct. 10.
Aero said the two exchanges have together returned $578 million in revenue to tokenholders. Aero’s public metrics page showed about $580 million in lifetime exchange revenue as of Monday.
Upgrade Terms Aero launched without venture funding or a token sale. Holders swap AERO and VELO into the new AERO, while vote-escrowed veAERO and veVELO positions become sAERO. Under the upgrade terms, one VELO becomes 0.044 AERO and nothing converts automatically. Aerodrome holders receive 94.5% of the new supply and Velodrome holders 5.5%. The release said that split reflects each exchange’s share of combined revenue over the 52 weeks before the merger was announced in November 2025.
ChainSecurity, Blackthorn, Riley Holterhus and GregoAI audited the contracts ahead of a three-week public contest on Sherlock, and a Sherlock bug bounty opened at launch, Aero said.
Related Listen: ‘This Is a Better Version of a Stock, Period,’ Says Cutler
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
MAGMA Surges 70%: Two Wallets Profit $340K on 1.5M Token 2x Longs
MAGMA has surged over 70% today! 2 wallets opened 2x longs on 1.5M $MAGMA ($775K) on @Aster_DEX and are now sitting on $340K in unrealized profit, with returns as high as 105.84%.
3 hours ago
$MAGMA Surges 70%, 2 Wallets Up $340K on @Aster_DEX with 2x Longs
MAGMA has surged over 70% today! 2 wallets opened 2x longs on 1.5M $MAGMA ($775K) on @Aster_DEX and are now sitting on $340K in unrealized profit, with returns as high as 105.84%.
3 hours ago
Mysterious whale swaps $159M in $BTC for $155M in $ETH over 11 days
This mysterious whale sold another 246.25 $BTC ($20.64M) and then bought 8,286 $ETH ($20.64M) today. Over the past 11 days, the whale has sold a total of 1,917.7 $BTC ($159M) and bought 64,545 $ETH ($155M).
3 hours ago
Short-term Bitcoin holders’ unrealized profit stands at 9.5%, with new capital gradually flowing back, its proportion climbing to 11.2%.
Crypto analyst Axel Adler Jr. noted in a post that as of October 21, the share of funds from new investors in the Bitcoin network has climbed from the year-to-date low of 6.6% on July 5 to 11.2%, a sign that new capital is gradually flowing back, though the inflow remains below the levels that topped 20% in 2024 and 2025. Currently, Bitcoin is trading at roughly $82,300, with short-term holders’ average cost basis at $75,100, translating to an overall unrealized profit of around 9.5%. This cohort has been in profit for 63 straight days since August 20, with the unrealized profit ratio hitting a peak of 16% on October 5. Should the new investor fund share break above 11.5%, it would signal further strengthening of buyer demand; a drop back below 10%, meanwhile, would point to a possible stall in new capital inflows. If Bitcoin falls below $75,100, short-term holders as a whole will flip to losses, and the associated selling pressure may rise accordingly.
3 hours ago
Samsung Electro-Mechanics has secured a combined investment of 3.7 trillion won from Tesla and NVIDIA, and will expand its AI chip substrate production line.
According to South Korean media reports, Tesla and NVIDIA will invest 1.1 trillion won and 2.6 trillion won respectively, totaling around 3.7 trillion won (approximately $2.5 billion), to support Samsung Electro-Mechanics’ expansion of next-generation FC-BGA (Flip Chip Ball Grid Array) substrate production facilities. Samsung Electro-Mechanics will set up a dedicated production line at its Sejong plant for Tesla; the substrates manufactured will be used in AI chips for Tesla’s autonomous vehicles and its Optimus humanoid robot. The relevant long-term supply agreement spans five years, from 2029 to 2033. NVIDIA, meanwhile, plans to invest in the expansion of Samsung Electro-Mechanics’ Sejong and Busan plants to produce AI computing chips and data center network substrates. Samsung Electro-Mechanics targets completing factory construction by the end of 2027, launching mass production in the second half of 2028, and commencing supply to Tesla in 2029. FC-BGA is a critical packaging substrate for high-performance chips including AI accelerators, GPUs, and CPUs. As AI chip computing power rises, the supply of such substrates has emerged as a key bottleneck in the industry chain. The partnership is expected to help Samsung Electro-Mechanics scale its high-end substrate production capacity and secure long-term customer demand.
How Can You Save Gas Fees on Ethereum?
You save gas fees on Ethereum by sending fewer on-chain transactions and sending them when the network is less busy.
A Limit Order helps with the first part. Placing a Limit Order is a signature, not a transaction, so it does not require gas. When the order fills, the taker pays the gas fee to settle the trade on-chain.
That makes a Limit Order one of the simplest ways to trade on Ethereum with less gas from your own wallet. It also comes with trade-offs, which are covered below.
What Makes Ethereum Gas Fees Expensive?
Ethereum gas fees depend on two things: how much work your transaction needs, and how much demand there is for block space at that moment.
The work is measured in gas units. A simple ETH transfer uses relatively little gas. A token swap uses more, because it calls smart contracts and may route through several pools.
The price of each gas unit changes with network activity. Ethereum adds a base fee that rises when blocks are full and falls when they are not. You can also add a priority fee to get your transaction included faster.
So your total gas cost is roughly the gas units used multiplied by the price per unit. Saving gas means lowering one of those two numbers, or not sending the transaction yourself at all.
5 Practical Ways to Save Gas on Ethereum
The most effective way to save gas on Ethereum is to send fewer transactions from your wallet. The other tactics reduce what each remaining transaction costs.
1. Trade When the Network Is Less Busy
Gas prices rise and fall with demand for block space. If your trade is not urgent, sending it when activity is lower can reduce the price you pay per gas unit.
2. Avoid Repeat Approvals
Token approval is a separate on-chain transaction, and it requires gas. Once a contract already has enough allowance for a token, you do not need to approve it again for the next trade.
3. Skip Unnecessary Wrapping
Wrapping ETH into WETH is also an on-chain transaction. On a KyberSwap Limit Order, wrapping only applies when you sell a native token such as ETH, so holding WETH avoids that step.
4. Let the Taker Submit the Settlement Transaction
With a Limit Order, you sign the order instead of sending a swap transaction. The taker pays the gas fee to settle the trade on-chain. The next section explains why this cuts your gas.
5. Move Small Trades to a Lower-Gas Chain
If you trade small amounts often, Ethereum gas can take a large share of each trade. On most other chains supported by KyberSwap, gas costs are negligible by comparison.
Why Do Limit Orders Cost Less to Trade?
Limit Orders cost less to trade because the maker does not send the transaction that settles the trade. You sign the order once, and the taker pays the gas fee and taker fee to settle it on-chain.
A market swap works the other way. You send the swap transaction yourself, so you pay the gas for every trade.
ActionMarket swap on EthereumKyberSwap Limit Order (maker)Token approvalGas, first time per tokenGas, first time per tokenWrap ETH to WETHNot neededGas, only when selling a native tokenPlace the tradeYou send the transaction and pay gasYou sign the order. Signing does not require gasSettle the tradeIncluded in your swap transactionThe taker pays the gas feeCancelNothing to cancelGasless Cancel is free. Hard Cancel requires gas
The one-time steps are similar. The difference shows up in the actions you repeat: placing, settling and changing your mind.
Change Your Price Without Paying Gas
A KyberSwap Limit Order fills at the rate you set when you signed it. If the market moves and you want a new price, you cancel the order and create a new one.
With Gasless Cancel, that adjustment costs no gas. Creating the new order is also gasless, as long as your token approval is already in place. On Ethereum, where every transaction counts, this lets you keep adjusting your plan without paying gas each time.
If the order was recently shared with a taker, Gasless Cancel usually completes in seconds, but can take up to 5 minutes.
Hard Cancel is still available when you need instant cancellation. It requires gas, because it invalidates the order on-chain.
Your Tokens Stay in Your Wallet
Tokens stay in your wallet until the order settles. You do not need to send a transaction to deposit them anywhere first.
When Is a Market Swap Still the Better Choice on Ethereum?
A market swap is still the better choice when you need the trade done now, or when your order is too small for a taker to settle profitably on Ethereum.
Small Orders May Not Fill on Ethereum
The taker pays gas to settle your order, so takers weigh the order’s size, gas fees and their own margin before filling it. On Ethereum, high gas can make small trades unprofitable for takers.
As a result, low-volume orders on Ethereum are unlikely to fill unless the price moves enough to cover taker gas costs. Gas costs are negligible on other chains, so this matters most on Ethereum.
A Limit Order Waits for Your Price
A Limit Order only fills when the market reaches your rate and a taker settles it. If the market never reaches your target, the order stays open until you cancel it or it expires.
A market swap executes at the current rate in one transaction. You pay the gas, but you get the trade immediately.
Which One Fits Your Trade?
If you want to…Better fit on EthereumBuy or sell at a specific price, without urgencyLimit OrderAdjust your target price oftenLimit Order, with Gasless CancelGet the trade done right nowMarket swap
Frequently Asked Questions
Is a KyberSwap Limit Order Completely Gas-Free on Ethereum?
No. Signing the order does not require gas, and the taker pays the gas to settle it. Token approval, wrapping a native token and Hard Cancel are on-chain transactions that require gas.
Who Pays the Taker Fee on a KyberSwap Limit Order?
The taker pays the taker fee, along with the gas fee to settle the trade on-chain.
Do I Need to Approve My Token Every Time I Place a Limit Order?
No. Token approval is needed the first time for each token. It is skipped on subsequent orders.
Can a Swap Fill My Limit Order?
Yes. Limit Orders are a liquidity source on the KyberSwap Aggregator, so swaps via the Aggregator will also be routed through active limit orders when the rate is competitive.
Which Approach Saves You the Most Gas?
If you trade on Ethereum with a target price in mind and an order large enough to attract takers, a Limit Order saves the most gas. You pay for approval once, sign orders without gas, and let the taker pay to settle.
If you trade small amounts or need the trade done right away, a market swap is the more reliable choice. Timing it for a quieter network, or moving small trades to a lower-gas chain, keeps that cost down.
To try it, open the Limit Order tab on the Swap page at kyberswap.com, select Ethereum, and set the rate you want to trade at.
Aerodrome and Velodrome have merged into Aero, a spot exchange launching on seven networks including Ethereum, Base and Arbitrum. Here is what changes for AERO and VELO holders.
Aerodrome and Velodrome (@VelodromeFi) have merged their operations under Aero (@aeroxyz), a spot exchange launching across seven blockchain networks. The combined platform aims to extend the model that made both decentralised exchanges (DEXs) leaders on their home networks.
Seven networks, one exchangeAero covers Ethereum (@ethereum) $ETH, Base (@base), Robinhood Chain (@RobinhoodCrypto), Ink (@inkonchain), OP Mainnet (@Optimism) $OP, Arc (@arc) and Arbitrum (@arbitrum) $ARB.
The networks collectively process approximately $120 billion in monthly DEX trading volume, according to the project. That figure reflects activity across those networks, not volume handled by Aero itself.
The two exchanges bring established market positions.
Aerodrome accounted for 58% of DEX trading volume on Base during the third quarter, while Velodrome captured 60% on OP Mainnet, according to the statement.
New features and token migrationAero will introduce predictive liquidity allocation, cross-chain Metaswaps and dynamic trading fees through Slipstream V3.
Predictive Allocation lets participants stake AERO and direct liquidity reward budgets to markets expected to generate returns.
The new token contract is base:0x940181a94a35a4569e4529a3cdfb74e38fd98631.
Holders should confirm the rates through official Aero channels before migrating.
Sources
The Block: Aerodrome and Velodrome merge to launch Aero across seven blockchain networksCryptowisser: Aerodrome and Velodrome merge into Aero, launch on 7 chainsGN Crypto: Aerodrome, Velodrome merger to create Aero on Oct. 21
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
After hovering between $2.3K and $2.4K, Ethereum [ETH] finally broke out of the range, climbing to $2,526.
However, the altcoin soon retraced below $2.5K. At press time, Ethereum traded around $2,435, down 0.16% on the daily charts.
Whales continued accumulating through the volatility, but their activity had yet to translate into stronger price momentum.
Can Ethereum whales help reclaim $2.5K? As Ethereum [ETH] struggled to hold $2.5K, whales stepped up on both the buy and sell sides. The Whale Behaviour Shift showed increased accumulation, with 133 whales adding over 426K ETH.
Source: Swiss Intelligence Lookonchain highlighted three whales withdrawing Ethereum from exchanges.
One withdrew 10,954 ETH worth $26.97 million from Kraken and staked it after four months of inactivity. Another withdrew 9,000 ETH worth $22.42 million from Binance and deposited it into Aave.
A third withdrew 4,500 ETH worth $11.29 million from Binance. Together, these withdrawals totaled 24,454 ETH, valued at $60.68 million.
Source: Arkham These moves suggested some large holders preferred staking, lending, or holding Ethereum away from exchanges despite market volatility. Still, those choices alone could not establish expectations of an imminent rally.
Exchange activity echoed that shift. Over 12 hours, outflows exceeded $365 million, pushing Netflow to approximately -$30 million.
Source: CoinGlass That reversed the preceding 24-hour period, when inflows outpaced outflows and Netflow reached $21 million.
Fewer coins on exchanges could ease immediate selling pressure. Even so, Ethereum’s price had yet to reflect that potential support.
Why does Ethereum’s momentum remain bearish? Although some whales increased their holdings, sellers retained the upper hand in Ethereum’s momentum indicators. The Relative Strength Index (RSI) stood at 42, below the neutral 50 level, indicating bearish momentum.
Source: TradingView Likewise, the Positive Directional Indicator (+DI) hovered around 17. The Negative Directional Indicator (-DI) remained above it, reinforcing the bearish reading.
Together, these indicators suggested whale accumulation had yet to overcome broader selling pressure. They did not identify which holders were selling.
If that momentum persists, Ethereum could revisit $2.3K. However, stronger demand following the whale accumulation could help Ethereum reclaim $2.5K, potentially bringing $2.7K into view.
For now, the indicators offered limited support for that recovery.
Ethereum’s four-minute settlement plan could lower the cost of moving crypto. (Ethereum)Summary
Ethereum researchers have proposed cutting transaction finality from about 16 minutes to roughly four minutes, though the unfinished plan has no activation date.Faster finality could reduce costs for cross-chain transfer services by allowing them to recover and reuse funds more quickly.The proposal would separate validators’ block-selection and finality votes, potentially enabling further speed gains and an eventual shift to quantum-resistant signatures.Ethereum researchers want to cut the wait for a transaction to become final from about 16 minutes to roughly four, a change that could make it cheaper to move money between blockchains.
Ben Edgington, who coordinates Ethereum’s fast-finality research, filed the draft Wednesday with fellow researchers Francesco D’Amato, Roberto Saltini, Yann Vonlanthen and Mikhail Kalinin.
Its initial target is a four-fold improvement, though the design is unfinished and has no activation date.
In the current mechanism, a transaction can land in an Ethereum block well before the network treats it as final, the point where validators, the computers that secure the network, commit to never rewriting it. Anyone moving funds off Ethereum has to decide when it’s safe to release money on the other side.
But sixteen minutes is a long time to have money in limbo.
Say someone sends $10,000 from Ethereum to another network. A transfer service can pay them right away from money it already holds there, then wait to get repaid once the original transaction settles. The customer gets their funds in seconds, and the service has $10,000 tied up until Ethereum is done.
Ethereum Foundation research counts that idle money as a real cost for these firms, and a shorter wait lets them reuse it sooner. In practice, a service fronting a steady $1 million an hour would have about $267,000 waiting on repayment with a 16-minute delay. At four minutes, however, that drops to roughly $67,000.
Stablecoin providers such as Circle CRCL, which issues the dollar-pegged USDC, already charges for speed. Its fast route from Ethereum currently costs 0.01%, or $1 per $10,000, before network and application charges. Its standard route carries no Circle transfer fee.
Circle also caps the total value of fast transfers waiting on final settlement, and each completed settlement frees up room for new ones.
Splitting the voteThe 16-minute wait comes down to how Ethereum’s validators vote. Each one casts a single vote that does two jobs at once, helping pick the next block and helping lock older blocks in for good. Validators take turns casting those votes, and a block only becomes final after two full rounds of everyone voting.
Both jobs share one vote so finality can only move as fast as that rotation. The proposal gives each job its own vote, so the locking-in can run on a faster clock that developers can keep tightening over time.
The researchers say splitting the votes would also make it easier to eventually swap in quantum-resistant signatures. Ethereum would need that upgrade if quantum computers ever get strong enough to break today’s cryptography.
However, four minutes would still be slow next to Solana, which switched on its Alpenglow upgrade Wednesday with a target of finality in about 150 milliseconds.
The draft leaves voting timings, penalties and parts of its security analysis unresolved as of Thursday. Edgington wrote that “many aspects remain TBD” and that the immediate aim was getting a proposal number — which puts the idea into Ethereum’s formal upgrade pipeline.
Read More: Solana’s biggest network change since 2020 is live. Here’s how users benefit
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Robinhood Chain generated about $51 million in network revenue in its first quarter of operation. Ethereum (ETH) brought in roughly $41 million over the same period.
ARK Invest reported the figures in its DeFi Quarterly covering the third quarter of 2026. Its data shows Ethereum’s network revenue fell about 35% from the second quarter.
Ethereum Missed Out on a Rebound QuarterAcross the networks in the report, revenue rose about 24% from the second quarter to roughly $349 million. The total sat about 47% below its level a year earlier.
ARK said the quarter marked the first increase in 5 quarters. It credited the rise to Solana’s (SOL) recovery and Robinhood Chain’s debut.
Ethereum also lost ground in tokenization. On public blockchains, its share of tokenized real-world asset value fell from about 50% in late June to 44%. It still hosted the most, at about $16.7 billion.
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Network Real Economic Value by Blockchain Source: ARK Invest Ethereum’s decentralized exchange (DEX) volume also fell about 27% from the second quarter, while Base’s dropped about 17%. ARK said trading volume shifted toward newer venues such as Robinhood Chain.
Robinhood’s Chain Faces Its First Earnings TestRobinhood opened the chain’s public mainnet on July 1, about 5 months after its testnet went live in February.
The network settles transactions on Ethereum and uses ETH as its gas token. That means Ethereum still collects a portion of the fees the chain generates.
In its debut quarter, the chain processed about $65 billion in DEX volume. That made it the fourth-largest network by DEX volume in ARK’s data.
Tokenized equities accounted for about $13.7 billion of that trading. Only BNB Chain hosted more, at roughly $16.5 billion.
For Robinhood shareholders, the revenue question lands on October 27, when the company reports third-quarter results. That release covers the chain’s first full quarter of operation.
Robinhood has tied the chain’s payoff to usage in its second-quarter filing with the Securities and Exchange Commission (SEC).
“Our ability to generate revenue from Robinhood Chain depends significantly on the level of adoption and developer activity on the network,” it said.
Coinbase offers a precedent. It noted in July that it books Base sequencer fees within other transaction revenue. That line fell about 11% from the first quarter to $47.4 million. CFO Alesia Haas tied the drop to lower instant transfer activity and Base revenue.
ARK also flagged a risk to those numbers.
“We do not expect to see Robinhood Chain continue to post such impressive revenue numbers, as a recent increase in gas on Robinhood Chain will eliminate high fees from congestion pricing,” the firm noted.
Robinhood shares traded at $101.9 at press time, down 11.5% in 2026 so far. The call will show whether management reports the chain’s contribution separately.
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Fhenix has launched its CoFHE privacy coprocessor on Ethereum ($ETH) and Arbitrum ($ARB) mainnet, letting smart contracts compute on encrypted data.
Fhenix (@fhenix) has launched its CoFHE privacy coprocessor on Ethereum (@ethereum) $ETH and Arbitrum (@arbitrum) $ARB mainnet. According to Bitcoin(.)com, the launch took place on October 21 and brings the fully homomorphic encryption (FHE) system into production.
The technology lets smart contracts perform computations on encrypted information without disclosing balances, positions or trading strategies, while still enforcing rules automatically.
How CoFHE worksFHE is a cryptographic method that allows calculations to run on data without decrypting it first. Crypto Briefing reports that CoFHE does the heavy computation off-chain and sends encrypted results back to the host chain, so contracts can still interact with existing infrastructure rather than sit in a separate privacy silo.
Fhenix says developers can integrate it with a single Solidity import, according to the same report. The launch also includes a Dual-Mode Token Standard, which Unchained describes as letting holders switch a balance between public and confidential in one transaction, without bridging.
Access is limited at the start. Crypto Briefing notes the mainnet is permissioned, so contracts must be approved for an allowlist before using CoFHE in production, while testnets remain open to developers.
Partners, audit and what comes nextBitcoin(.)com lists two initial design partners: Fluton, an encrypted intent engine for cross-chain transactions, and Alpha Engine, a network where strategists submit encrypted trading strategies to compete for liquidity. Both are focused on secure finance use cases.
Fhenix says the system was audited by Consensys Diligence before launch. Unchained reported that it could not find a public copy of the audit report, so readers should treat the audit claim as company-stated for now.
Looking ahead, Fhenix plans to deploy three more applications on CoFHE in the fourth quarter and announce two institutional strategic partnerships, per Bitcoin(.)com. The project's pitch is that institutions could use public blockchains without exposing every financial input to competitors.
The launch adds to a growing push for privacy tooling on Ethereum and its layer-2 networks. Its adoption will depend on how many approved applications go live and how the permissioned rollout evolves.
SourcesBitcoin(.)com News: Ethereum and Arbitrum Gain New Privacy Layer as Fhenix Goes Live
Crypto Briefing: Fhenix launches CoFHE coprocessor on Ethereum and Arbitrum
Unchained: Fhenix Goes Live on Ethereum and Arbitrum
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Kalshi has partnered with BitGo to offer Bitcoin and Ethereum-backed loans, allowing eligible institutional traders to fund leveraged perpetual futures positions while retaining ownership of their existing cryptocurrency holdings.
Kalshi and BitGo Introduce Crypto-Backed Futures Loans
The partnership will allow eligible traders to leverage their investment in Kalshi’s perpetual futures contracts with borrowed money. The deal provides for investors to hold onto their cryptocurrencies while lending to take advantage of a leveraged position on the exchange.
Kalshi Katalyst, the lending affiliate of Kalshi Prime, will provide loans under the new arrangement. BitGo Bank & Trust will act as the middleman in a three-party arrangement to keep the staked digital assets.
According to Kalshi Prime CEO Jeff Bandman, eligible collateral includes Bitcoin, Ethereum, and GENIUS Act-compliant stablecoins. The company is planning to add more custody partners as its lending network grows.
The agreement is based on BitGo’s current institutional cryptocurrency custody services. A recent report has reviewed BitGo’s digital asset infrastructure, including their institutional clients and custody operations.
Kalshi Targets Institutional Traders Holding Bitcoin
The service is aimed at investors who want to gain exposure to futures trading without selling their current crypto assets, Bandman said.
“What we wanted to do was make it possible for customers to stay in crypto,” Bandman said.
He identified large Bitcoin holders and Latin American businesses using dollar-backed stablecoins as potential customers.
The executive indicated that another group of target investors are crypto-native traders who are using offshore perpetual futures platforms. Kalshi believes the deal will appeal to people who prefer trading platforms based on the blockchain.
The development comes from Kalshi’s expansion into cryptocurrency perpetual futures, which it has done since earlier this year. In September, Kalshi launched more crypto perpetual futures, such as the BNB, ADA, and AAVE versions.
Kalshi Expands Regulated Futures Trading Services
Kalshi’s perpetual futures unit is run under a trading system regulated by the Commodity Futures Trading Commission. In June, the exchange launched BTC perpetual futures trading, and it has since expanded into metals and other financial contracts.
Perpetual futures are futures contracts with no expiration date, which means that traders can hold positions while satisfying the margin requirements.
Separately, Kalshi Klear requested CFTC approval in September to introduce margin trading for selected prediction-market contracts. The company has applied for regulatory approval of perpetuals based on oil and U.S. equity products.
Two Texas-area names you probably haven’t heard of just did something most big banks are still writing white papers about. Vantage Bank and Rio Bank completed a loan payment between themselves using tokenized deposits on Ethereum.
According to Participate, the platform that handled the deal, the principal and interest landed in the receiving bank’s digital wallet in under three minutes. Loan balances and payment notices updated in the same motion as the money moved.
What actually happened The transaction took place on October 19, 2026. It was framed as the world’s first interbank loan participation or syndication principal-and-interest payment made with tokenized deposits.
In a loan participation, one bank makes a loan and sells slices of it to other banks. When the borrower pays, the lead bank has to pass each participant its share of principal and interest.
The payment ran through two pieces of infrastructure. The first was Participate’s loan-sales platform, which connects banks buying and selling loan interests. The second was the Hazel Network, which Vantage Bank built alongside Custodia Bank.
The settlement itself happened on the Ethereum mainnet. That’s the public blockchain, not a private sandbox or a walled-off test chain.
Custodia’s ERC-20 token, called Avit, was part of the setup. ERC-20 is the standard format for fungible tokens on Ethereum, the same template behind a large share of the tokens issued on that network.
Matt Johnner of Participate described the payment as a practical demonstration of tokenized deposits slotting into workflows banks already run. He positioned it as a key step toward automating interbank loan servicing.
How we got here This didn’t appear out of nowhere. Vantage and Custodia have been testing tokenized deposits since March 2025, which means roughly a year and a half of trial runs before this live payment.
The more recent chapter began in April 2026. That’s when Participate, Vantage Bank and Custodia Bank announced a strategic collaboration to plug Hazel Network capabilities into Participate’s ecosystem.
That ecosystem now includes more than 750 banks. So the rails used here sit on a network that already reaches hundreds of potential counterparties, at least in principle.
A tokenized deposit is a regular bank deposit represented as a token on a blockchain. It remains a claim on the issuing bank, inside the regulated banking system.
Why it matters The headline number is the three minutes, but the more interesting detail is that records updated alongside the payment. In loan servicing, moving cash is only half the job. Someone also has to update balances, send notices and confirm everyone agrees on who owns what. Bundling them into one on-chain event is the efficiency argument for tokenization in a nutshell.
The partners also stressed that the transaction stayed within banking compliance requirements.
For the crypto industry, the choice of Ethereum mainnet stands out. Traditional institutions have often preferred permissioned networks where they control who participates. Running a regulated bank-to-bank payment on a public chain is a vote of confidence in its reliability for this kind of use.
Custodia’s role is notable too. The Wyoming-chartered bank has spent years positioning itself at the intersection of crypto and traditional banking. A live interbank payment using its Avit token gives that positioning a concrete use case rather than a pitch deck.
Wider adoption would require more banks willing to hold tokenized deposits, connect to the Hazel Network and get comfortable with on-chain settlement from a risk and compliance standpoint.
Interoperability is another thing to watch. If other banks build competing tokenized deposit systems, the value of near-instant settlement depends on whether those systems can talk to each other.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bithumb will suspend XPLA deposits and withdrawals at 15:00 today to support network upgrades.
According to Bithumb's announcement, the platform will suspend XPLA token deposits and withdrawals on the XPLA network starting at 15:00 KST (Korea Standard Time) on October 22 to support network upgrades and node server updates. The node server update is scheduled for 19:00 the same day, though the exact time may be adjusted based on network conditions and block generation speed. Deposits and withdrawals will resume once network stability is confirmed, with a specific resumption time to be announced separately. XPLA trading will remain unaffected during this period.
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Anthropic plans to publicly file its IPO documents as early as this Friday, with its current private market valuation standing at $1.957 trillion.
According to three people familiar with the matter, Anthropic plans to publicly file its S-1 investor prospectus as early as this Friday. The company confidentially submitted a draft to the U.S. Securities and Exchange Commission (SEC) in June. Per SEC regulations, companies that file confidentially must disclose relevant materials to the public at least 15 calendar days before the launch of their formal investor roadshow. The public filing will clear key procedural hurdles for a potential November initial public offering (IPO), though the final timing remains dependent on factors such as market conditions. Earlier reports noted some investors are targeting a $1.5 trillion valuation for Anthropic’s upcoming IPO, a 25% decrease from the earlier $2 trillion projection. Separately, data from trading platform Entropy shows Anthropic’s over-the-counter (OTC) contract market capitalization stands at $1.957 trillion.
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Dragonfly Partner: The crypto industry is at the forefront of a global wave of cyberattacks.
Dragonfly Managing Partner Haseeb Qureshi has warned that the global cybersecurity landscape is facing a hacker wave comparable to the COVID-19 pandemic, with the crypto industry being the first to experience this trend. He argues that because on-chain attacks are the most straightforward way for hackers to generate direct profits, security breaches in crypto protocols can serve as an early warning sign of broader internet security risks. While the number of hacker attacks targeting the crypto sector has surged sharply, the annualized total value of stolen funds remains roughly on par with 2025 levels, indicating a decline in the average loss per attack. Qureshi pointed out that attackers are focusing on small DeFi protocols with weak security safeguards and inadequate maintenance, whereas large crypto protocols have begun leveraging AI tools to bolster their defenses. He predicts that this large-scale attack trend will eventually spread to the traditional internet industry.
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Bloomberg: DeepSeek completes second-round financing of 100 billion yuan, with Tencent and CATL as the top investors.
Beating AI Express (Dongcha) reports: Bloomberg’s latest report states that DeepSeek has completed its second round of financing worth 100 billion yuan, with Tencent and CATL being among the largest investors. The round was initially targeted to raise 50 billion yuan, but its fundraising goal was raised twice afterward. Despite the financing scale doubling, DeepSeek’s pre-money valuation remains at around 500 billion yuan. At the end of June this year, DeepSeek just closed its first round of financing of approximately 51 billion yuan, with founder Liang Wenfeng contributing around 20 billion yuan personally. Calculated based on the reported scale of this round, the total financing of the two rounds amounts to roughly 150 billion yuan. In this round, new and existing shareholders will each contribute about half of the total planned investment. CATL will add around 10 billion yuan, while Tencent will also continue to invest approximately 10 billion yuan. New investors include Stone Capital, SMIC Holdings, CPE Source Capital, Legend Capital, and Geely, among others. Perfect World announced on October 22 that two funds managed by entities related to Lisi Capital and Shixiang Capital have completed fundraising, with sizes of 7.52 billion yuan and 3.65 billion yuan respectively. Perfect World has subscribed to a total of 150 million yuan, and Century Huatong has previously disclosed its participation in the investment. Both funds participated in DeepSeek’s current financing round, but the specific investment amounts have not been made public. DeepSeek is also preparing for an IPO on China’s STAR Market, planning to submit its listing application as early as the end of this year and aiming to go public in 2027.
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Hong Kong stocks extend their losing streak, with the Hang Seng Index falling below the 23,000-point threshold. Zhipu AI’s shares plunge over 9%, leading declines in the AI sector.
According to Bitget market data, Hong Kong stocks have extended losses since opening today. The Hang Seng Index fell 2.7% intraday, breaking below the 23,000-point mark; the Hang Seng Tech Index dropped 4.38%, with the artificial intelligence sector slumping—Days Innovations and Zhipu AI both fell more than 9%.
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South Korea's Financial Services Commission Chairman: Virtual asset taxation needs to fully consider multiple factors, and the relevant bill has entered the final negotiation phase.
According to Yonhap News Agency, South Korea's Financial Services Commission Chairman Lee Eoguen told the National Assembly's Administrative Committee during a comprehensive audit that "various factors need to be fully considered" regarding virtual asset taxation set to take effect next year. People Power Party lawmaker Song Eon-seok on the same day questioned whether the tax should be scrapped or delayed, arguing that taxation is being advanced before the nature of digital assets and policy direction are clarified, and that the "Digital Asset Basic Act" should be prioritized for drafting. Lee responded that digital asset-related bills are in the final negotiation stage and will be pushed for discussion as soon as possible. On the taxation front, opinions from all sides are diverse and still being gathered. South Korea's virtual asset tax was introduced in 2020 via an amendment to the Income Tax Act, and has been delayed three times previously. The government is currently proceeding with administrative procedures in line with the January next year implementation schedule, but industry stakeholders and even some ruling party members argue the timing is premature due to unclear standards and insufficient infrastructure.
In BriefNear Protocol (NEAR): NEAR trades near $5.25 in a healthy consolidation below $6.00, with $5.60 as the key breakout level.Zcash (ZEC): ZEC trades near $1,314 after recovering most of its October losses, with $1,380 as the key resistance.Dogecoin (DOGE): DOGE trades near $0.0825 in a recovery attempt within a larger downtrend, and needs a close above $0.0855 to matter.Ethereum (ETH): ETH trades near $2,482 and looks healthier than most large coins, with $2,550 as the level to confirm the next move higher.Near Protocol (NEAR) back in effective rangeNEAR is trading near $5.25 after a green daily candle that closed above the current range. The coin has been one of the strongest names in the market. It rose from about $1.60 in August to a high near $6.00 in early October, a gain of more than 270%. After that peak, the price pulled back to $4.30 and has since moved sideways between $4.60 and $5.60. This is a healthy pause after such a rapid rise.
NEAR/USDT Chart by TradingViewImportantly, NEAR never lost its 20-day EMA, which sits near $4.80 and has acted as support on every dip. The longer averages are far below the price. The 50 EMA is near $4.20, the 100 EMA near $3.40, and the 200 EMA near $2.75.
All of them point up, and the distance between the price and the averages shows how strong the trend is. RSI sits near 55, down from overbought levels above 80 in late September.
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This means the heat has cooled without a drop in price, which is a good sign for bulls. Volume has also settled after the big spike in September, but the latest green candle came with a visible rise in buying.
The first level to watch is $5.60, the top of the current range. A close above it would open the way to the $6.00 high. A break above $6.00 would put NEAR in price discovery for this cycle. On the downside, $4.80 is the first support, followed by $4.30, the recent low.
A close below $4.30 would show that buyers are losing control and could send the price toward the 50 EMA near $4.20. For now, the trend remains up. NEAR is building a base below the highs, and a breakout above $5.60 could likely start the next leg higher.
Zcash (ZEC) among the recovery leadersZcash is trading near $1,314 after a strong daily candle, recovering most of its October losses. The coin has had a huge run this year, rising from about $480 in August to a peak near $1,700 in late September.
After that high, ZEC fell to a low near $1,050. The drop was sharp, but the price held above the 100-day EMA, which sits near $1,010. That level worked as a safety net, and buyers stepped in right there.
ZEC/USDT Chart by TradingViewThe current bounce is important. ZEC has moved back above the 20 EMA near $1,270 and is now testing the area around $1,320 to $1,350, where sellers appeared in early October. The 50 EMA near $1,190 is now below the price and should act as support on any dip. The long-term picture remains strong.
The 200 EMA is near $790 and rising, far below the current price. All major averages point up, which confirms that the main trend has not changed. RSI is near 55 and turning up from the 40 area. This indicates that momentum is coming back after the pullback. Volume was low during the drop and is rising slightly during the bounce, which supports the move.
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The key resistance is $1,380, followed by $1,500. A close above $1,380 would show that buyers have taken back control and could open the way toward $1,500. A move above $1,700 would set a new high. If the bounce fails, support sits at $1,190 and then $1,050.
A break below $1,050 would put the 100 EMA near $1,010 in play and could weaken the bullish case. For now, ZEC has the upper hand. Price is recovering, momentum is improving, and the trend remains up. A daily close above $1,380 would confirm the next move higher.
Dogecoin (DOGE) low-volume recoveryDOGE is trading near $0.0825 after a green daily candle. The coin rose from about $0.070 in August to a high near $0.106 in September. It then lost ground in October and fell to a low around $0.076. The latest bounce is a first sign that buyers are returning. Price now sits just below a cluster of averages.
DOGE/USDT Chart by TradingViewThe 50 EMA and 100 EMA are close to $0.0855, and the 20 EMA is near $0.088. The 200 EMA is higher, near $0.092, and has capped every rally for months. This area is the main wall for the bounce. RSI is near 45 and turning up from a weak area, which indicates that selling pressure is easing.
Volume has been low during the pullback and during the bounce. That means sellers are not pushing hard, but buyers have not shown real strength either.
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The first level to watch is $0.0855. A daily close above it would put the price back over the 50 and 100 EMAs and could open the way toward $0.088 and then $0.092. A move above the 200 EMA would be the first real change in the long-term trend.
On the downside, $0.080 is the main support, followed by the recent low near $0.076. A close below $0.076 would point to $0.070, where DOGE based in July and August. For now, DOGE is in a recovery attempt inside a larger downtrend. The bounce is real, but it needs a close above $0.0855 to matter.
Ethereum (ETH) stabilizes on supportEthereum is trading near $2,482 after a green daily candle. ETH jumped from about $1,900 in August to a high near $2,800 in September. In October, the price pulled back to $2,320, where it found support and started to recover. That support came from the 100 EMA near $2,360 and the 200 EMA near $2,315. Both lines are rising and sit close together, which makes this a strong base.
ETH/USDT Chart by TradingViewBuyers defended it, and the price bounced right away. Now ETH is testing the 50 EMA near $2,480. This line is the first real barrier. The 20 EMA sits higher, near $2,550, and acts as the next hurdle.
Price has to clear both to show that the bounce has strength. RSI is near 45 and moving up from the 40 area, so momentum is slowly coming back. Volume has been average, with no big spike at the bounce, which means the move still needs more buying to be fully confirmed.
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A daily close above $2,550 would be a strong signal. It would put ETH back above the short-term averages and open the way toward $2,700 and the September high near $2,800. A break above $2,800 would set a new local high.
If the bounce fails at the 50 EMA, support sits at $2,360 and then $2,315. A close below $2,315 would break the base and could send the price toward $2,100. For now, ETH looks healthier than most large coins. The main trend is still up, and the long averages are rising below the price. A close above $2,550 would confirm the next move higher.
Several major cryptocurrencies are displaying signs of stability and recovery, with Near Protocol (NEAR) and Zcash (ZEC) at the forefront of the market rebound. Dogecoin (DOGE) and Ethereum (ETH) are also showing notable price activity after recent declines.
Near Protocol: Strong consolidation and trendNear Protocol, a layer-1 blockchain focused on scalability and user-friendly development, is currently trading near $5.25, consolidating below its recent high of $6.00. The token experienced significant growth from $1.60 in August to nearly $6.00 in early October, marking an increase of more than 270%. Following this rally, NEAR pulled back to $4.30 and has since moved within a range between $4.60 and $5.60, consolidating recent gains.
The 20-day exponential moving average (EMA) at $4.80 has consistently acted as support during each dip, helping to maintain the uptrend. Additional key averages, including the 50 EMA at $4.20, 100 EMA at $3.40, and 200 EMA at $2.75, all trend upward and remain well below the current price, underscoring the coin’s bullish momentum.
Relative strength index (RSI) values have eased from overbought levels above 80 to a more neutral reading of 55, signaling that the market has cooled despite price stability. Volume has moderated since September’s spike, although buying interest resurfaced with the most recent upward move.
NEAR continues to trade in a strong uptrend, using its rising EMA levels as support. A close above $5.60 could pave the way for a retest of the $6.00 peak and potential new highs this cycle, while support rests at $4.80 and $4.30 should momentum fade.
A break above $6.00 would place NEAR in price discovery for the current cycle. Conversely, a sustained move below $4.30 could trigger further downside toward $4.20.
Mini dictionary: Exponential Moving Average (EMA), a technical indicator placing a greater weight and significance on recent price data to identify trends in market analysis.
Zcash: Key recovery levels in focusZcash, a privacy-focused cryptocurrency, trades near $1,314 after recovering most losses from October. ZEC surged from $480 in August to a high of $1,700 in late September. After hitting that peak, the token dropped to around $1,050 but found support above its 100-day EMA at $1,010, prompting renewed buying activity.
ZEC has reclaimed the 20 EMA at $1,270 and is now confronting resistance in the $1,320 to $1,350 range, which marked a local top in early October. Its 50 EMA at $1,190 now serves as nearby support, while the longer-term 200 EMA sits at $790. All major average trend lines point upward, confirming an ongoing bullish trend.
Momentum has also improved, with the RSI rising toward 55. Trading volume increased slightly as ZEC rebounded, giving weight to the recent upturn.
The resistance zone at $1,380 represents a major barrier; a daily close above this level could open the way to $1,500 and eventually challenge previous highs near $1,700. Critical support remains at $1,190 and $1,050, with a break below the latter level threatening to weaken the positive outlook.
If ZEC can clear resistance, the next target would be $1,500, while renewed selling below $1,050 may expose the $1,010 level.
Mini dictionary: Zcash, a digital currency designed to provide enhanced privacy through zero-knowledge cryptographic proofs that enable transaction information to remain concealed from public view.
Dogecoin and Ethereum: Mixed recovery signalsDogecoin is trading near $0.0825 following a modest bounce from its recent low of $0.076. The coin had rallied from $0.070 in August to $0.106 in September before reversing course in October. DOGE now faces a set of technical resistance levels: the 50 and 100 EMAs at $0.0855, the 20 EMA at $0.088, and the 200 EMA at $0.092—all of which have capped bullish moves in recent months.
The RSI for DOGE stands at 45, rising from oversold territory, which suggests receding selling momentum. However, volume remains low both throughout the decline and during the current bounce, indicating that significant buying pressure has yet to emerge. The $0.0855 mark serves as initial resistance, with support levels at $0.080 and $0.076. A close below $0.076 could bring $0.070 back into view.
Ethereum is now trading at approximately $2,482 after rebounding off support near $2,320 earlier in the month. The coin previously advanced from $1,900 in August to a September high of $2,800, then slid to its current support area. The 100 and 200 EMAs (at $2,360 and $2,315) provided a cushion during the latest downturn and continue to form a stable base.
At present, ETH faces resistance at the 50 EMA ($2,480), and the 20 EMA ($2,550) will be the next test if the recovery continues. Breaking above $2,550 would signal a potential move toward $2,700 and a retest of September’s highs near $2,800. RSI is near 45, gradually climbing, while trading volume remains at typical levels for the asset.
If ETH fails to break through resistance, support levels to monitor are $2,360 and $2,315. A decisive move below these supports could expose the $2,100 level. Market participants view a close above $2,550 as a key confirmation of further upside potential.
Ethereum and Solana both set new highs for staking participation during the third quarter of 2026, even as the returns available to stakers declined, according to Bitwise’s latest quarterly staking analysis.
Growing amounts of capital locked into securing the networks diluted individual rewards, while the bulk of those rewards continued to come from newly created tokens rather than transaction-related activity.
On Ethereum, the amount of ETH held by active validators climbed to a record 43.80 million tokens, equal to 35.9% of the total circulating supply.
Net inflows totaled 1.99 million ETH for the quarter, marking the sixth consecutive period of positive growth.
Cumulative staking additions for the first nine months of the year reached 7.96 million ETH—more than six times the volume seen in the same period a year earlier.
Institutional participants drove much of the expansion.
Bitmine, the Ethereum treasury firm associated with Tom Lee, increased its staked holdings from roughly 410,000 ETH in late 2025 to 5.07 million ETH by late September.
The higher participation level pushed average annualized gross staking yields down to 2.63% from 2.81% in the previous quarter.
Protocol-issued consensus rewards accounted for 96.3% of the total yield (2.53 percentage points), while priority fees and maximal extractable value contributed only a marginal 0.10 percentage points.
As the pool of staked ETH expands, the same stream of rewards is shared among more participants, lowering the return on each token.
Ethereum network revenue from fees and MEV also fell, dropping to approximately $40.6 million from $63 million in the second quarter.
The network processed 199.32 million transactions—still elevated relative to the prior year—yet users paid less per transaction following capacity increases from earlier upgrades.
Solana exhibited a similar pattern. Active stake rose to a record 440.5 million SOL, or 69% of total supply, after adding about 13.4 million SOL during the quarter.
Gross staking yields slipped to 5.99% from 6.38%.
Roughly 90% of Solana’s yield derives from new token issuance under its disinflationary schedule, which reduces issuance by 15% annually toward a long-term floor.
Higher network fees provided only a partial offset.
Solana handled a record 14.2 billion non-vote transactions, a 45% increase from the prior quarter, while transaction fee revenue climbed to $76 million.
Application-level revenue also rose sharply.
The network’s higher throughput and lower latency supported this activity, even as average transaction costs remained relatively stable.
Validator counts declined on both networks for different reasons.
Ethereum’s active validator set fell from around 1.1 million to roughly 881,000 following the Pectra upgrade, which enabled operators to consolidate multiple validators into fewer, higher-balance ones while maintaining the same amount of secured ETH.
Solana’s validator count dropped from 696 to 659 under ongoing cost pressures, continuing a longer-term contraction of about 30% over the past year as smaller operators exited.
Bitwise’s report frames the quarter as one in which proof-of-stake networks grew more capable and cheaper to use by design.
Increased staking strengthens economic security for the expanding volume of on-chain activity—including tokenized equities and other traditional assets—yet the dominance of issuance-funded rewards means non-staking holders face dilution while yields compress as participation rises. The data highlight a maturing infrastructure where security commitments expand even as per-token returns moderate.
Aerodrome and Velodrome officially merge to launch unified on-chain DEX Aero.
Aerodrome and Velodrome have officially completed their merger, launching a unified on-chain spot trading platform called Aero. The new platform will operate across seven networks: Ethereum Mainnet, Base, Robinhood Chain, Ink, OP Mainnet, Arc, and Arbitrum, integrating the operations of the two decentralized exchanges into a single platform. The core focus of the merger is the unification of the token system. Original AERO and VELO tokens will be migrated to the new AERO token, with old AERO swapped at a 1:1 ratio, and VELO converted at a rate of 1 VELO = 0.044 AERO. Existing veAERO and veVELO staked positions will be converted to sAERO. Binance announced on October 16 that it supports the token merger and contract swap, providing a migration path for existing holders. Prior to the merger, Aerodrome and Velodrome already held leading positions in their respective ecosystems: in Q3 2026, Aerodrome accounted for 58% of DEX trading volume on Base, while Velodrome captured 60% of DEX volume on OP Mainnet. Aerodrome also ranked first among all DEXs in Bitcoin-USD trading volume during the same period. The seven networks covered by Aero collectively handle approximately $120 billion in monthly DEX trading volume.
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Whop Raises $200 Million Series D Round Co-Led by Sequoia and Shopify Ventures, Valued at $5.1 Billion
Online business platform Whop announced on October 21 that it has closed a $200 million Series D funding round, with a post-money valuation of $5.1 billion. The round was co-led by Sequoia Capital and Shopify’s investment arm, Shopify Ventures. Some market reports have cited the funding amount as $205 million, but the official figure from the company’s announcement is $200 million. This financing comes less than a year after Whop’s previous funding round. In February 2026, Tether made a $200 million strategic investment in Whop at a $1.6 billion valuation, meaning the company’s valuation has more than tripled in under a year. Headquartered in Palo Alto, Whop was founded in 2021 by three co-founders who met as teenagers while developing sneaker release tracking software. Co-founder Steven Schwartz serves as CEO. The platform caters to individual entrepreneurs and small businesses, offering one-stop infrastructure covering business setup, payment distribution and operational tools. Currently, around 25,000 merchants conduct business via Whop, generating approximately $550 million in monthly transaction volume on the platform, while also creating income streams for over 50,000 related service providers. Its revenue mainly comes from commissions on platform transactions, with an average combined rate of around 6%.
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Robinhood officially establishes its presence in Dubai, selecting the Dubai International Financial Centre (DIFC) as its Middle East regional headquarters, with its license application to the Dubai Financial Services Authority (DFSA) also in progress.
Robinhood’s Middle East expansion has shifted from planning to tangible implementation. According to multiple sources, the firm has selected the Dubai International Financial Centre (DIFC) as its regional headquarters for the Middle East and North Africa (MENA) region, and submitted a Category 4 license application to the Dubai Financial Services Authority (DFSA) to secure regulatory approval for offering trading services in the UAE. If approved, Robinhood will serve clients in the UAE and across the broader MENA region, with its operational base located at DIFC.
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A new SSV proposal aims to slash its budget significantly, shifting from an expansion strategy to "maintenance first".
SSV Labs recently submitted the DIP-59 proposal, requesting an extension of network management authorization to June 30, 2027, along with major adjustments to its budget and work scope. The proposal marks SSV’s shift from an expansion strategy to a “maintenance-first” approach amid market and funding pressures. On the technical roadmap, the second half of 2026 will focus on completing the Boole network fork and supporting Ethereum’s ePBS upgrade; the first half of 2027 will enter a pure maintenance period with no new product development. Financially, SSV Labs has scaled back its funding requests: it is seeking 1.5 million USDC for 2026, and 2.7 million SSV tokens (including an option conversion mechanism) for the first half of 2027. The proposal waives certain previously due outstanding funds and requires a $900,000 asset as payment collateral.
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Fidelity settles California crypto withdrawal probe for $500,000, requiring advance notice for retail wallet transfers while exempting IRA accounts.
California Attorney General Rob Bonta announced on October 16 that his office has reached a $500,000 settlement with Fidelity Digital Assets, National Association, the successor entity to Fidelity Digital Asset Services. The settlement addresses restrictions Fidelity previously imposed on California retail customers transferring cryptocurrency off its platform, which regulators deemed potentially violated California’s 1990 Commodity Law. Under that statute, certain speculative commodity contracts are restricted unless the buyer obtains physical delivery within a set timeframe, and state authorities view the ability to withdraw cryptocurrency as the functional equivalent of such delivery. From November 2022 to April 2025, California customers could trade cryptocurrency on Fidelity’s platform but were barred from sending assets directly to external wallets. Fidelity attributed the restriction to its then-regulator, the New York State Department of Financial Services (NYDFS), failing to grant required approval. The approval was secured in April 2025, and the transfer function was extended to all California retail customers in June 2025.
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Sonic Labs will transfer approximately 13 million S tokens via over-the-counter (OTC) transactions.
Sonic Labs announced on social media that approximately 13 million S tokens will be transferred over the next 24 to 48 hours under a strategic over-the-counter (OTC) agreement. The transaction counterparty is a long-term partner. The team is disclosing this information in advance to ensure the community clearly understands the rationale behind the on-chain fund transfer when it is observed on the blockchain.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
BitMine, a prominent cryptocurrency investment firm led by Tom Lee, has significantly increased its Ethereum staking activity, pushing its staked ETH portfolio to new highs. This move comes as the company reinforces its commitment to Ethereum amid ongoing market volatility.
BitMine’s major Ethereum commitmentBitMine, recognized as one of the largest Ethereum treasury firms, recently staked an additional 159,728 ETH. The latest transaction, valued at approximately $390.6 million, has boosted the company’s total staked Ethereum holdings to 5.23 million ETH, a position now worth $12.78 billion.
With these actions, BitMine has now staked 86.5% of its total Ethereum holdings as of October 21. The company’s Ethereum holdings account for about 5% of the total ETH in circulation, highlighting BitMine’s influence among large corporate holders in the crypto sector.
Blockchain analytics platform Lookonchain reported the details of this latest staking activity, drawing significant attention from both investors and market watchers.
Mini dictionary: BitMine is a digital asset management firm led by Tom Lee, known for large-scale holdings and active participation in staking within the Ethereum ecosystem.
By aggressively increasing its staked position, BitMine has reinforced its dominance as a corporate Ethereum holder, signaling strong confidence in Ethereum’s long-term prospects.
MetricValueNew ETH staked (recent)159,728 ETHTotal staked ETH5.23 million ETHEstimated value$12.78 billionPercentage of portfolio staked86.5%Share of total ETH supply5%Ethereum price rebounds amid bullish sentimentThe timing of BitMine’s substantial staking move followed several weeks of price swings in the broader cryptocurrency market. Ethereum has recently shown renewed strength, recovering to trade near $2,450, reflecting about a 2.78% increase over the last 24 hours.
The dual effect of BitMine’s expanded stake and Ethereum’s price recovery has bolstered market sentiment, with many observers perceiving increased optimism regarding the asset’s near-term outlook.
BitMine’s expanded Ethereum staking comes amid renewed optimism in the crypto market, with Ethereum’s price approaching $2,450 after rebounding from recent volatility.
Market participants are closely watching whether the firm’s sustained staking activity and Ethereum’s current momentum will support further gains for the world’s second largest cryptocurrency by market capitalization.
Grayscale has announced the expansion of in-kind subscription access across ten digital asset investment products, enabling eligible investors to directly exchange cryptocurrency for shares. This move reflects Grayscale’s ongoing efforts to enhance flexibility for accredited investors interested in cryptocurrency exposure. Historically, Grayscale has offered in-kind subscriptions for select products, with private-placement shares subject to resale restrictions. This development could indicate increased institutional interest, as it simplifies the process for investors to allocate digital assets into Grayscale’s investment products without the need to first liquidate holdings into cash.
Key Takeaways Grayscale’s expansion appears to support increased institutional access to digital asset investment products. The move may indicate growing confidence in digital asset markets among institutional investors. Pricing suggests this development could be consistent with scenarios supporting an increase in Ethereum’s price. What to Watch Observers will closely monitor any subsequent changes in Ethereum’s market dynamics, particularly given the potential for increased institutional interest. Developments such as public statements from major financial entities or significant market movements could provide further indications of the broader impact of Grayscale’s decision. Additionally, regulatory responses or changes in market sentiment could play a critical role in shaping future price movements for Ethereum.
Term Structure
Contract Odds Δ since publish Volume 24h October 26 2026 29.5% — — View market → October 26 2026 4.5% — — View market → October 26 2026 3.2% — — View market → October 26 2026 1.6% — — View market → October 26 2026 1.4% — — View market →
A series of security vulnerabilities have been disclosed in internet infrastructure software within a single day, affecting PHP, Node.js, and Go.
Multiple internet infrastructure software projects rolled out security updates in a single day, addressing vulnerabilities including remote code execution, TLS certificate validation bypass, and certificate trust risks. PHP fixed two critical flaws: CVE-2026-109618 and CVE-2026-109619, both enabling unauthenticated remote code execution that impacts PHP environments processing web requests. The patched versions are 8.5.12, 8.4.27, 8.3.36, and 8.2.35. Node.js’ advisory details 10 vulnerabilities, four of which are high-severity: these include remote code execution via out-of-bounds write in the Brotli decoder, DNS name truncation, and two TLS certificate hostname validation bypass issues. Fixed versions are 26.12.1, 24.22.1, and 22.23.4. Additionally, Go’s crypto/x509-related risk is tracked as CVE-2026-111943, rated "Important" by Red Hat with a CVSS 3.1 score of 6.8. Attackers with specific network access and valid certificates could impersonate legitimate servers to intercept or alter communications. Go 1.26.10 and 1.27.3 have been added to a deny list, blocking trust for compromised intermediate certificates.
1 hours ago
Dataline completes $10.6 million seed round funding, and plans to conduct an ICO.
Decentralized data network for AI agents Dataline has closed a $10.6 million seed round, co-led by Lattice and Samsung-backed Dispersion Capital, with participation from Symbolic Capital, Coinbase Ventures, Anagram, and Robinhood co-founder & CEO Vlad Tenev, among others. The round, completed in April, utilized a SAFE agreement with token warrants; valuation was not disclosed. Dataline is now live, covering approximately 50 data sources to deliver on-chain and off-chain data, and scores data reliability, timeliness, and consistency using AI. Proceeds will be allocated to expanding data sources, enhancing data validation, and expanding into robotics, AI training data, and other sectors. Dataline plans to launch a token by the end of 2026 for network payments and data access, and intends to conduct a public token sale on Base via Uniswap’s Continuous Clearing Auction (CCA) system, with details set to be revealed next week. The public sale’s target fundraising amount, token quantity, and other terms remain undisclosed.
1 hours ago
Trump plans to leverage White House cyber crime efforts to showcase achievements in combating cross-border crypto fraud.
White House officials said on October 21 that Trump planned to focus on the U.S. government’s actions to crack down on overseas crypto fraud rings during the White House’s cybersecurity event that day, including recovering funds and shutting down fraudulent operations. These transnational criminal groups steal funds from U.S. citizens via romance scams, phishing, ransomware and other methods. The U.S. government noted that law enforcement agencies have seized approximately $833 million in crypto assets linked to overseas fraud, and shut down 503 fraudulent crypto websites under the supervision of the Homeland Security Task Force. Relevant authorities have also notified nearly 9,000 U.S. citizens to alert them they are being targeted by fraud. The U.S. Treasury Department previously announced the establishment of an inter-agency "Fraud Strike Task Force" to target "pig butchering" scams run by organized criminal groups in Myanmar, Cambodia, Laos and the Philippines. Since last year, the U.S. has also imposed multiple sanctions aimed at cutting off support for related fraud websites and their infrastructure.
1 hours ago
American Bankers Association voices dissatisfaction with OCC’s final GENIUS Act rule, which abandons proposed restrictions on stablecoin yields.
Crypto journalist Eleanor Terrett reported that the American Bankers Association (ABA) has voiced dissatisfaction with the final rules implemented by the U.S. Office of the Comptroller of the Currency (OCC) under the GENIUS Act. The OCC abandoned the previously proposed restrictions on stablecoin yields, a move the ABA argues will "maintain the status quo for crypto platforms." The ABA’s CEO stated: "It is a mistake to wait until deposit outflows and economic harm have already occurred before attempting to address these issues."
1 hours ago
Beyond PHP, three Node.js version branches are also affected by high-severity vulnerabilities, and users need to update their runtime environments promptly.
Node.js rolled out a security update on October 21, covering its 26.x, 24.x, and 22.x version branches, with corresponding patched releases: 26.12.1, 24.22.1, and 22.23.4. The advisory details 10 total vulnerabilities, categorized as 4 critical-severity, 3 medium-severity, and 3 low-severity, with varying impact scopes across the three version lines. The critical CVE-2026-111497 is an out-of-bounds write flaw in the Brotli decoder that could enable remote code execution (RCE), affecting all three branches. Other critical issues include improper null character handling in DNS resolution and a TLS certificate hostname validation bypass. The update also resolves problems with persistent connection response processing, random number cache duplication, and permission models, while updating dependencies including c-ares, OpenSSL, and Undici. The official note warns that end-of-life (EOL) versions may still be vulnerable, advising users to use the latest supported releases. Separately, prior reports noted PHP has fixed two critical unauthenticated RCE vulnerabilities, with patches available for versions 8.5.12, 8.4.27, 8.3.36, and 8.2.35; PHP users are urged to upgrade immediately.
1 hours ago
Bonk Guy: This round is the "privacy cycle", privacy protocol MASK is undervalued.
Renowned trader Bonk Guy posted that the current crypto market is showing characteristics of a "privacy cycle". He noted that since yesterday, Bitcoin has risen approximately 3%, ZEC is up 16%, adding over $3 billion in market capitalization. MASK currently has a market cap of roughly $26 million, with its protocol trading volume and fees hitting consecutive all-time highs, he added. Citing data from DefiLlama, he stated that MASK ranks first among privacy protocols by revenue, outearning the next 10 privacy protocols combined. By comparison, ZEC’s market cap gain over the past 24 hours is roughly 115 times MASK’s entire market cap. Bonk Guy also said that MASK’s upcoming deployment on Solana is set to launch in the coming days, which he expects will further drive growth in usage, trading volume, and fees. He went on to call MASK the most undervalued privacy protocol in the crypto market.
A series of security vulnerabilities have been disclosed in internet infrastructure software within a single day, affecting PHP, Node.js, and Go.
Multiple internet infrastructure software projects rolled out security updates in a single day, addressing vulnerabilities including remote code execution, TLS certificate validation bypass, and certificate trust risks. PHP fixed two critical flaws: CVE-2026-109618 and CVE-2026-109619, both enabling unauthenticated remote code execution that impacts PHP environments processing web requests. The patched versions are 8.5.12, 8.4.27, 8.3.36, and 8.2.35. Node.js’ advisory details 10 vulnerabilities, four of which are high-severity: these include remote code execution via out-of-bounds write in the Brotli decoder, DNS name truncation, and two TLS certificate hostname validation bypass issues. Fixed versions are 26.12.1, 24.22.1, and 22.23.4. Additionally, Go’s crypto/x509-related risk is tracked as CVE-2026-111943, rated "Important" by Red Hat with a CVSS 3.1 score of 6.8. Attackers with specific network access and valid certificates could impersonate legitimate servers to intercept or alter communications. Go 1.26.10 and 1.27.3 have been added to a deny list, blocking trust for compromised intermediate certificates.
1 hours ago
Dataline completes $10.6 million seed round funding, and plans to conduct an ICO.
Decentralized data network for AI agents Dataline has closed a $10.6 million seed round, co-led by Lattice and Samsung-backed Dispersion Capital, with participation from Symbolic Capital, Coinbase Ventures, Anagram, and Robinhood co-founder & CEO Vlad Tenev, among others. The round, completed in April, utilized a SAFE agreement with token warrants; valuation was not disclosed. Dataline is now live, covering approximately 50 data sources to deliver on-chain and off-chain data, and scores data reliability, timeliness, and consistency using AI. Proceeds will be allocated to expanding data sources, enhancing data validation, and expanding into robotics, AI training data, and other sectors. Dataline plans to launch a token by the end of 2026 for network payments and data access, and intends to conduct a public token sale on Base via Uniswap’s Continuous Clearing Auction (CCA) system, with details set to be revealed next week. The public sale’s target fundraising amount, token quantity, and other terms remain undisclosed.
1 hours ago
Trump plans to leverage White House cyber crime efforts to showcase achievements in combating cross-border crypto fraud.
White House officials said on October 21 that Trump planned to focus on the U.S. government’s actions to crack down on overseas crypto fraud rings during the White House’s cybersecurity event that day, including recovering funds and shutting down fraudulent operations. These transnational criminal groups steal funds from U.S. citizens via romance scams, phishing, ransomware and other methods. The U.S. government noted that law enforcement agencies have seized approximately $833 million in crypto assets linked to overseas fraud, and shut down 503 fraudulent crypto websites under the supervision of the Homeland Security Task Force. Relevant authorities have also notified nearly 9,000 U.S. citizens to alert them they are being targeted by fraud. The U.S. Treasury Department previously announced the establishment of an inter-agency "Fraud Strike Task Force" to target "pig butchering" scams run by organized criminal groups in Myanmar, Cambodia, Laos and the Philippines. Since last year, the U.S. has also imposed multiple sanctions aimed at cutting off support for related fraud websites and their infrastructure.
1 hours ago
American Bankers Association voices dissatisfaction with OCC’s final GENIUS Act rule, which abandons proposed restrictions on stablecoin yields.
Crypto journalist Eleanor Terrett reported that the American Bankers Association (ABA) has voiced dissatisfaction with the final rules implemented by the U.S. Office of the Comptroller of the Currency (OCC) under the GENIUS Act. The OCC abandoned the previously proposed restrictions on stablecoin yields, a move the ABA argues will "maintain the status quo for crypto platforms." The ABA’s CEO stated: "It is a mistake to wait until deposit outflows and economic harm have already occurred before attempting to address these issues."
1 hours ago
Beyond PHP, three Node.js version branches are also affected by high-severity vulnerabilities, and users need to update their runtime environments promptly.
Node.js rolled out a security update on October 21, covering its 26.x, 24.x, and 22.x version branches, with corresponding patched releases: 26.12.1, 24.22.1, and 22.23.4. The advisory details 10 total vulnerabilities, categorized as 4 critical-severity, 3 medium-severity, and 3 low-severity, with varying impact scopes across the three version lines. The critical CVE-2026-111497 is an out-of-bounds write flaw in the Brotli decoder that could enable remote code execution (RCE), affecting all three branches. Other critical issues include improper null character handling in DNS resolution and a TLS certificate hostname validation bypass. The update also resolves problems with persistent connection response processing, random number cache duplication, and permission models, while updating dependencies including c-ares, OpenSSL, and Undici. The official note warns that end-of-life (EOL) versions may still be vulnerable, advising users to use the latest supported releases. Separately, prior reports noted PHP has fixed two critical unauthenticated RCE vulnerabilities, with patches available for versions 8.5.12, 8.4.27, 8.3.36, and 8.2.35; PHP users are urged to upgrade immediately.
1 hours ago
Bonk Guy: This round is the "privacy cycle", privacy protocol MASK is undervalued.
Renowned trader Bonk Guy posted that the current crypto market is showing characteristics of a "privacy cycle". He noted that since yesterday, Bitcoin has risen approximately 3%, ZEC is up 16%, adding over $3 billion in market capitalization. MASK currently has a market cap of roughly $26 million, with its protocol trading volume and fees hitting consecutive all-time highs, he added. Citing data from DefiLlama, he stated that MASK ranks first among privacy protocols by revenue, outearning the next 10 privacy protocols combined. By comparison, ZEC’s market cap gain over the past 24 hours is roughly 115 times MASK’s entire market cap. Bonk Guy also said that MASK’s upcoming deployment on Solana is set to launch in the coming days, which he expects will further drive growth in usage, trading volume, and fees. He went on to call MASK the most undervalued privacy protocol in the crypto market.
A series of security vulnerabilities have been disclosed in internet infrastructure software within a single day, affecting PHP, Node.js, and Go.
Multiple internet infrastructure software projects rolled out security updates in a single day, addressing vulnerabilities including remote code execution, TLS certificate validation bypass, and certificate trust risks. PHP fixed two critical flaws: CVE-2026-109618 and CVE-2026-109619, both enabling unauthenticated remote code execution that impacts PHP environments processing web requests. The patched versions are 8.5.12, 8.4.27, 8.3.36, and 8.2.35. Node.js’ advisory details 10 vulnerabilities, four of which are high-severity: these include remote code execution via out-of-bounds write in the Brotli decoder, DNS name truncation, and two TLS certificate hostname validation bypass issues. Fixed versions are 26.12.1, 24.22.1, and 22.23.4. Additionally, Go’s crypto/x509-related risk is tracked as CVE-2026-111943, rated "Important" by Red Hat with a CVSS 3.1 score of 6.8. Attackers with specific network access and valid certificates could impersonate legitimate servers to intercept or alter communications. Go 1.26.10 and 1.27.3 have been added to a deny list, blocking trust for compromised intermediate certificates.
1 hours ago
Dataline completes $10.6 million seed round funding, and plans to conduct an ICO.
Decentralized data network for AI agents Dataline has closed a $10.6 million seed round, co-led by Lattice and Samsung-backed Dispersion Capital, with participation from Symbolic Capital, Coinbase Ventures, Anagram, and Robinhood co-founder & CEO Vlad Tenev, among others. The round, completed in April, utilized a SAFE agreement with token warrants; valuation was not disclosed. Dataline is now live, covering approximately 50 data sources to deliver on-chain and off-chain data, and scores data reliability, timeliness, and consistency using AI. Proceeds will be allocated to expanding data sources, enhancing data validation, and expanding into robotics, AI training data, and other sectors. Dataline plans to launch a token by the end of 2026 for network payments and data access, and intends to conduct a public token sale on Base via Uniswap’s Continuous Clearing Auction (CCA) system, with details set to be revealed next week. The public sale’s target fundraising amount, token quantity, and other terms remain undisclosed.
1 hours ago
Trump plans to leverage White House cyber crime efforts to showcase achievements in combating cross-border crypto fraud.
White House officials said on October 21 that Trump planned to focus on the U.S. government’s actions to crack down on overseas crypto fraud rings during the White House’s cybersecurity event that day, including recovering funds and shutting down fraudulent operations. These transnational criminal groups steal funds from U.S. citizens via romance scams, phishing, ransomware and other methods. The U.S. government noted that law enforcement agencies have seized approximately $833 million in crypto assets linked to overseas fraud, and shut down 503 fraudulent crypto websites under the supervision of the Homeland Security Task Force. Relevant authorities have also notified nearly 9,000 U.S. citizens to alert them they are being targeted by fraud. The U.S. Treasury Department previously announced the establishment of an inter-agency "Fraud Strike Task Force" to target "pig butchering" scams run by organized criminal groups in Myanmar, Cambodia, Laos and the Philippines. Since last year, the U.S. has also imposed multiple sanctions aimed at cutting off support for related fraud websites and their infrastructure.
1 hours ago
American Bankers Association voices dissatisfaction with OCC’s final GENIUS Act rule, which abandons proposed restrictions on stablecoin yields.
Crypto journalist Eleanor Terrett reported that the American Bankers Association (ABA) has voiced dissatisfaction with the final rules implemented by the U.S. Office of the Comptroller of the Currency (OCC) under the GENIUS Act. The OCC abandoned the previously proposed restrictions on stablecoin yields, a move the ABA argues will "maintain the status quo for crypto platforms." The ABA’s CEO stated: "It is a mistake to wait until deposit outflows and economic harm have already occurred before attempting to address these issues."
1 hours ago
Beyond PHP, three Node.js version branches are also affected by high-severity vulnerabilities, and users need to update their runtime environments promptly.
Node.js rolled out a security update on October 21, covering its 26.x, 24.x, and 22.x version branches, with corresponding patched releases: 26.12.1, 24.22.1, and 22.23.4. The advisory details 10 total vulnerabilities, categorized as 4 critical-severity, 3 medium-severity, and 3 low-severity, with varying impact scopes across the three version lines. The critical CVE-2026-111497 is an out-of-bounds write flaw in the Brotli decoder that could enable remote code execution (RCE), affecting all three branches. Other critical issues include improper null character handling in DNS resolution and a TLS certificate hostname validation bypass. The update also resolves problems with persistent connection response processing, random number cache duplication, and permission models, while updating dependencies including c-ares, OpenSSL, and Undici. The official note warns that end-of-life (EOL) versions may still be vulnerable, advising users to use the latest supported releases. Separately, prior reports noted PHP has fixed two critical unauthenticated RCE vulnerabilities, with patches available for versions 8.5.12, 8.4.27, 8.3.36, and 8.2.35; PHP users are urged to upgrade immediately.
1 hours ago
Bonk Guy: This round is the "privacy cycle", privacy protocol MASK is undervalued.
Renowned trader Bonk Guy posted that the current crypto market is showing characteristics of a "privacy cycle". He noted that since yesterday, Bitcoin has risen approximately 3%, ZEC is up 16%, adding over $3 billion in market capitalization. MASK currently has a market cap of roughly $26 million, with its protocol trading volume and fees hitting consecutive all-time highs, he added. Citing data from DefiLlama, he stated that MASK ranks first among privacy protocols by revenue, outearning the next 10 privacy protocols combined. By comparison, ZEC’s market cap gain over the past 24 hours is roughly 115 times MASK’s entire market cap. Bonk Guy also said that MASK’s upcoming deployment on Solana is set to launch in the coming days, which he expects will further drive growth in usage, trading volume, and fees. He went on to call MASK the most undervalued privacy protocol in the crypto market.
Bankless co-founder David Hoffman shared a noteworthy prediction, stating that Zcash’s rise may not be over yet. Hoffman believes ZEC could reach 10% of Bitcoin’s market capitalization in the current cycle and 25% in the next.
However, Hoffman’s optimism towards Zcash is not new. His previous writings reveal the stages through which this view was formed.
In his May 9th assessment, Hoffman recalled that ZEC had risen from $56 to $700 in 41 days the previous year. He explained that due to the weakness that followed this movement, the rise might not be permanent and gave the impression of being a temporary bounce driven by a small group.
The second strong move seen in May changed his perspective. At the time, Hoffman noted that ZEC had risen by approximately 80 percent in the previous 30 days, arguing that a single rally wasn’t enough, but the second surge deserved closer examination.
He placed financial privacy at the heart of his optimism. According to Hoffman, the increasing capacity of AI-powered financial monitoring could boost demand for privacy technologies. He also believed that Zcash’s structure, which combined transparent and private transaction options, could provide an advantage in terms of corporate access.
A noteworthy detail is that he also discussed the scenario of Bitcoin reaching 10% of its market capitalization in the same May article. Therefore, this percentage is not a target that has been put forward for the first time today.
In his article published on September 23, Hoffman expanded on his thesis through capital movements. Comparing Zcash’s position in 2026 to Ethereum’s in 2021, he argued that even a small fraction of Bitcoin holders shifting their investments to ZEC could have a powerful impact on an asset with a smaller market capitalization.
*This is not investment advice.
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The Drift Protocol exploiter has transferred approximately $109 million in Ethereum to Tornado Cash over the past two days, heightening concerns about the movement of funds stolen in one of the largest decentralized finance attacks this year.
Details of Recent Ethereum TransfersBlockchain analytics platform Onchain Lens reported that addresses controlled by the Drift exploiter sent a total of 44,510 ETH to Tornado Cash between October 20 and 21. The transfers consisted of 25,710 ETH, worth around $63 million, on October 20, followed by 18,800 ETH, valued at roughly $46 million, on the following day.
These movements account for more than one-third of the $295.7 million equivalent stolen in April during the Drift Protocol exploit. Analyst data shows the exploiter’s wallets now hold close to 56,569 ETH, with the balance estimated at about $138 million as of October 21, according to Arkham Intelligence.
Records from Tuesday indicate that the exploiter’s monitored balance was near 81,454 ETH, which represented approximately $194 million. This reduction reflects a combination of outgoing transfers and fluctuating Ether prices.
Ongoing Use of Tornado CashThe Drift exploiter has previously used Tornado Cash to obscure transactions. In August, linked wallets sent approximately $44 million in ETH through the mixer. On October 20, Lookonchain identified an influx of about 25,700 ETH sent to the service within just two hours. Additional transfers continued through October 21, tracked across various blockchain monitoring tools.
Recent blockchain activity demonstrates an ongoing effort by the Drift exploiter to move substantial amounts of stolen funds through Tornado Cash, underscoring the complexity of tracing assets once they enter mixing services.
Analysts caution that blockchain analysis alone may not be sufficient to identify the eventual recipients of funds leaving Tornado Cash, creating ongoing challenges for investigators and affected users.
Aftermath of the April ExploitThe Drift Protocol suffered a $295.7 million loss on April 1. Discrepancies in early loss estimates reflected differences in token valuations over time. The attack stands as one of the largest in the decentralized finance ecosystem during 2024.
A June 3 update from Drift highlighted findings provided by Mandiant, which linked the incident to North Korean threat actor UNC6862 through operational evidence and analysis of prior attack patterns. The attackers had reportedly spent months building relationships with platform contributors before launching the exploit, which involved transaction approvals and access compromise rather than vulnerabilities in the smart contract code.
In response to the attack, Drift hired former Helium executive Noah Prince to oversee engineering and brought in staff from Gauntlet to review the protocol’s risk management and liquidation systems. The platform is moving to restart trading operations and intends to dedicate part of its future revenue to compensate victims of the hack. However, any funds moved by the exploiter function independently from these recovery efforts.
User Compensation and Recovery MechanismsDrift’s compensation process began on October 1 with the issuance of DFX tokens on Solana. These tokens allow verified users to redeem one DFX for every USDT lost during the exploit, with a capped supply of about 299.5 million DFX.
At the onset, approximately 3.1 million USDT was available in the recovery pool, setting the initial redemption value at $0.0104 per DFX. This structure means that direct recovery to pre-hack balances will not happen instantly, and the real value received depends on available funds.
Compensation options allow affected users to redeem DFX tokens against pool funds, sell their tokens, or hold them with the prospect of future value. Burned tokens are permanently removed from circulation as they are redeemed.
The recovery system allocates between 60% and 90% of Drift’s daily net revenue to the recovery pool, depending on performance. In addition, any assets recovered through legal measures will be added to compensatory funds. Tether has pledged up to 127.5 million USDT in assistance, with further commitments of up to 20 million USDT from other sources.
Nevertheless, these contributions are not yet available for redemption. Eligible users must claim their DFX tokens before January 1, 2028; any unclaimed tokens will be permanently burned afterward.
As the crypto market shows how quickly funds and meme tokens can gain momentum, timing and investor decisions remain critical. In the meme token sector, viral internet trends have transformed modest investments into substantial profits within days. Data from Fomo App illustrates this with an instance where a $99 investment in “Niu Lai” grew to about $370,000. Tools like Fomo App, which integrate token discovery, investor rankings, and trade notifications, offer traders a way to closely follow investor movements and activity in the fast-paced world of meme tokens.
Ethereum [ETH] staking hit an all-time high of 43.8 million, extending its growth streak to six consecutive quarters even as staking yields declined.
Bitwise’s Q4 2026 Staking Report highlighted that staked ETH represented 35.9% of the total supply of Ethereum.
The network reportedly recorded net staking inflows of 1.99 million ETH during the quarter, highlighting continued growth in participation. Ethereum’s staking yield, however, fell from 2.81% to 2.63%, reflecting how the increase in participation aligned with lower returns.
Source: X
Bitmine expands staking with a $390.6 million allocation
Institutional staking activity gained further attention as Bitmine staked another 159,728 ETH, valued at roughly $390.6 million. As per the Lookonchain’s post on X, the recent transaction pushed Bitmine’s total staked holdings to 5.23 million ETH, worth approximately $12.78 billion.
In fact, the staked assets accounted for roughly 86.5% of the company’s total ETH holdings, reflecting its significant commitment to Ethereum.
The recent allocation strengthened Bitmine’s strategy of generating staking rewards while at the same time maintaining significant exposure to ETH.
Interestingly, this significant participation further provided institutional context to Ethereum’s record staking figures, especially as yields continued depreciating.
Source: X
Binance traders favor longs as ETH exits exchanges
The derivatives market insights highlighted that Binance’s top traders maintained a strong bias for long positions despite recent price weakness.
In particular, long accounts represented 67.91% of top trader accounts, with 32.09% in favor of short positions. As a result, the Long/Short Ratio reached 2.12, implying that bullish positions outnumbered bearish positions by more than twofold.
Besides, Ethereum’s Spot market registered negative netflows of $2.34 million on the 21st of October, implying that the exchange withdrawals exceeded deposits, potentially reducing ETH available for immediate selling.
The recent outflow, however, remained relatively modest as compared with several larger withdrawals recorded during September and better part of October.
Source: ETH Spot Netflows on CoinGlass
Ethereum defends $2,400 as RSI improves
After retreating from the $2,800 resistance, Ethereum market value sat around $2,446, inside its previous consolidation range.
The daily timeframe chart highlighted ETH fluctuating between the $2,400 support and the $2,535 resistance, with the bulls defending the lower boundary repeatedly.
Following its recent correction, ETH attempted a modest rebound but struggled to establish a sustained move above the $2,500 area.
The RSI indicator, meanwhile, recovered to 42.80, above its signal average, which stood at 39.87. Even though the RSI remained below the 50-threshold, its latest improvement suggested easing bearish pressure.
On the other hand, the Parabolic SAR indicator remained above the prevailing price at $2,547.94, validating bearish structure.
Ethereum would need sustained price rebound to allow for it to retest the $2,535 resistance, where sellers previously restricted further advances, as the bearish SAR still favored caution.
Source: ETH/USDT on TradingView
Final Summary
Ethereum staking reached 43.8 million ETH as Bitmine expanded its staked holdings.
ETH defended $2,400 support, but bearish indicators continued limiting recovery prospects.
Crypto authorizations granted to a contract remain active as long as you don’t withdraw them. From May 5, 2026, attackers exploited this rule. They withdrew approximately 1.42 million dollars from 31 addresses, thanks to authorizations given to a router of the Ekubo protocol. The main victim had granted theirs 158 days earlier, according to the founder of SlowMist.
In Brief $1.42 million: that’s how much attackers drained starting May 5, 2026, using approvals users had granted to an Ekubo router. 158 days: the age of the unlimited approval that cost the main victim about 17 WBTC. 60%: the share of unlimited approvals on Ethereum, according to a 2022 study of transactions through July 2021. May 6, 2026: the day after the first drain, Ekubo’s founder proposed ERC-8255, a standard for approvals that expire by default. A crypto authorization does not stop with the transaction To exchange a token on a decentralized application, you first sign an authorization. This message thus allows a contract to withdraw your tokens on your behalf. The ERC-20 standard stipulates that it can do so “multiple times, up to the set amount”. However, your wallet does not always display what you are signing, as shown in our article on clear signing.
Moreover, this authorization has no end date. The official ethereum.org guide on revocation states plainly: “There is no expiration date on contract permissions.” They can therefore be used years later.
Disconnecting from the site does not change anything either. The authorization exists in the token’s contract, on the blockchain, and not in your browser. According to the same guide, the project therefore retains access to your tokens after disconnection. Your digital wallet does indeed keep your keys, not your authorizations. You must then revoke the authorization to cut this access.
The amount then poses a second problem. Many applications request unlimited access, so as not to ask again at each exchange. A university study published in 2022 measured this on transactions made up to July 31, 2021. At the time, 60% of authorizations on Ethereum were for an unlimited amount.
Crypto authorizations: what you think you accept When you validate an exchange, you think you authorize only that single operation. In reality, the authorization goes further. It allows the contract to take a token amount, at any time, until withdrawn.
As long as the contract functions well, it only withdraws for your own operations. However, a code flaw can allow a third party to trigger the withdrawal. The authorization does not verify who calls the contract. It only checks that the contract has the right to take your tokens.
Ekubo has revised its own explanation. On May 8, its report probably attributed large authorizations to users who raised the ceiling themselves. On May 16, the text changed. The team indicates that its interface may have created some of these authorizations and no longer tries to attribute their origin.
Ekubo: how a forgotten router drained wallets Ekubo is an exchange protocol present on Starknet and on several blockchains compatible with Ethereum. The attack targeted the HuffRouter, a router optimized to reduce fees, deployed on Ethereum and Arbitrum. Its users had indeed given it the right to withdraw their tokens to execute their exchanges.
A data parsing bug in HuffRouter […] allowed a caller to add arbitrary bytes after a otherwise valid exchange path, and have them interpreted as data set by the router upon settlement.
Specifically, the attacker could designate any user as the payer of an exchange. Anyone who had authorized this router thus became a target. The first withdrawal was on May 5, 2026, at 5:50 p.m. UTC.
Ekubo estimates losses at around 1.42 million dollars, across 31 addresses. However, a single address lost about 17 WBTC, or nearly 1.37 million dollars, as well as 0.34 cbBTC. It therefore concentrates 98% of the total. The attack did not affect the liquidity providers nor the Starknet version of the protocol.
The team also acknowledges not having audited this contract. They considered its risk low. According to them, authorizations could be limited, and exchanges via the interface should remain small and rare. These routers can no longer be modified: they “remain vulnerable,” the report specifies. Ekubo then deployed on June 23 a reimbursement fund, capped per address and voluntarily paid by its DAO.
Socket, LI.FI, SwapNet: the same pattern for years Ekubo is not an isolated case. The site Revoke.cash lists these attacks in its annual report. It counts 9 authorization exploits in 2025, totaling just over 6 million dollars. In 2024, they had cost 80 million.
In July 2024, the LI.FI platform lost about 11.6 million dollars, taken from 153 wallets. According to the report published by LI.FI, the flaw only affected unlimited authorizations. In January 2024, a similar flaw at Socket targeted about 200 users, all with unlimited access.
In January 2026, 18 users lost 13.43 million dollars through SwapNet’s contracts. According to the post-mortem of the Matcha Meta platform, victims had disabled the one-time use authorization offered by default. Matcha notes, however, that a precise unused amount also left funds exposed.
These attacks differ from signature scams. In that case, a fake site makes you sign an authorization for the scammer. This type of theft cost 83.85 million dollars in 2025, according to the 2025 report from security company ScamSniffer.
Reducing the risk of crypto authorizations The first reflex is to limit the amount. MetaMask allows setting a spending cap when signing. Their official help is clear: “Never grant unlimited (astronomically high) authorizations.”
Then, clean up regularly. The tool Revoke.cash displays your crypto authorizations on more than 80 networks. The verifier on the Etherscan explorer does the same on Ethereum. Revoking one authorization at a time is free, excluding network fees. Revoke.cash charges 1.50 dollars per batch revocation. In a January 2024 advisory, the police and cybersecurity agency of Singapore also recommend reviewing and revoking large authorizations.
Finally, some applications already limit the duration. The Uniswap application uses Permit2 and grants 30-day authorizations, according to its help center. However, you first give an authorization to the Permit2 contract itself, and that one does not expire. On Starknet, tokens follow the same model as Ethereum, without expiration.
ERC-8255 wants authorizations to expire by default On May 6, 2026, Moody Salem, founder of Ekubo, submitted the project ERC-8255 on the EIP site. Its principle is simple: a classic authorization would expire after a maximum duration, set by each token. A new function would also allow granting a shorter authorization, down to a single block.
The text first adds new functions, compatible with existing applications. However, it changes the behavior of ordinary authorizations, which divides developers. On the Ethereum Magicians forum, some prefer to leave the classic authorization untouched. Researcher pcaversaccio believes instead that “authorizations have always been a bug, not a feature” (editorial translation).
Other approaches also exist. The ERC-7674 proposal provides for authorizations erased at the end of the transaction. Since the Pectra update of May 2025, a compatible wallet can also bundle authorization and exchange in a single operation.
As of October 18, 2026, ERC-8255 remained a project, and its text referenced no implementation. The Ekubo routers targeted on May 5 cannot be modified. Their unlimited authorizations therefore only disappear if each user revokes them. Our comparison of the most secure crypto wallets presents other available protections.
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Ering N.
Independent author, specialized in decentralized artificial intelligence and crypto ecosystems. I analyze projects by what they actually do, not by the noise around them. Openly a supporter of the Qubic project: my articles about Qubic and its direct competitors carry a disclosure.
Zcash gains nearly 10% as XRP and Ethereum rebound. October 21 analysis maps key price support, resistance and signals for ETH, XRP, XMR, ZEC and PUMP.
Asset Price 24-hour change Aggregate volume Ethereum $2,443.19 +1.24% $11.30B XRP $1.33 +2.10% $1.41B Zcash $1,259.24 +9.64% $1.04B Monero $575.41 −4.80% $185.56M Pump.fun $0.0047416 +6.35% $189.25M Ethereum Rebounds but Remains Below the Bollinger Midpoint Ethereum closed October 20 at $2,446.73, up 1.72%, after trading between $2,370.41 and $2,475. The candle recovered Monday’s $2,443.70 high at the close but did not clear the October 16 high at $2,490.84 or the October 14 high at $2,527.11.
TH/USD daily Bollinger Bands show a rebound to $2,446.73 below the falling $2,532.04 midpoint, with support concentrated near $2,370–$2,383. Daily Bollinger Bands, calculated from a 20-day simple moving average and two population standard deviations, placed the midpoint at $2,532.04. The lower and upper bands stood at $2,296.81 and $2,767.26.
Price remains in the lower half of the envelope while the midpoint continues to fall. This characterizes a rebound beneath a declining trend reference rather than a confirmed reversal.
The completed 00:00–04:00 UTC candle closed at $2,441.56. CoinGecko’s aggregate quote was 1.34% above Tuesday’s $2,410.99 report.
A daily close above $2,475 would strengthen the approach to $2,490.84 and the Bollinger midpoint near $2,532. A close below $2,382.78 would weaken the rebound and expose $2,370.41, followed by $2,313.42.
XRP’s MACD Gap Narrows Without a Bullish Crossover XRP closed Tuesday at $1.33457, gaining 2.45% and finishing above the previous session’s $1.32128 high. The move recovered part of the decline from $1.38535 but remained beneath the $1.34473 session high and $1.34600–$1.35208 resistance.
XRP/USD daily MACD (12,26,9) remains below its signal even as the histogram becomes less negative following a 2.45% completed-session gain. Daily MACD, using 12- and 26-period exponential averages with a nine-period signal EMA, remained bearish. The MACD line improved to −0.03536 against a −0.02410 signal.
Its histogram narrowed from −0.01569 to −0.01126, showing reduced downside momentum but no completed bullish line-signal crossover.
Four-hour MACD offered a stronger short-term reading: the line was above its signal and the histogram was positive at 0.00611. That divergence supports a near-term rebound attempt but does not replace daily confirmation.
A daily close above $1.34473–$1.35208 would strengthen the recovery toward $1.38076–$1.38535.
Failure to hold $1.29213 would weaken the move and expose Tuesday’s $1.285 low. A close below $1.25477 would invalidate the recovery from the new October low.
Compared with the October 19 report, XRP’s Kraken daily close has risen 2.21% from $1.30573.
Monero Holds Above Its Daily EMAs After a $625 Rejection Monero closed October 20 at $597.57, down 1.29%, after reaching $625. The upper wick and lower close show rejection from that high, while Kraken volume reached 10,422 XMR—approximately 1.66 times the preceding 20-session average.
XMR/USD remains above rising 20-day and 50-day EMAs despite rejecting $625, while four-hour price action has weakened toward $575. Despite the pullback, price remained above the rising 20-day EMA at $559.91 and 50-day EMA at $530.54. The faster average was already above the slower one, and Tuesday did not produce a fresh crossover.
The setup therefore combines a still-positive daily trend position with near-term rejection at resistance.
Short-term conditions weakened after the daily close. The completed four-hour candle fell to $574.94, below its 20-period EMA at $592.17 and near its 50-period EMA at $574.17. CoinGecko’s $575.41 quote likewise sat well below Tuesday’s close.
A daily close above $611.93 would improve the odds of another test of $625. Clearing $625 would bring the September 21 high at $633.90 into focus.
A close below $582.55 would weaken the latest advance, while losing $569.44 would expose the 20-day EMA.
Zcash RSI Reclaims Neutral as Price Tests October Resistance Zcash closed at $1,256.30, gaining 9.17% after trading as low as $1,117.08. The close recovered Monday’s $1,189.88 high and approached the $1,278–$1,284.78 resistance area.
ZEC/USD daily RSI rises above 50 as price approaches $1,278–$1,284.78 resistance; the four-hour move to $1,296 is not yet a daily breakout. The 14-day RSI, calculated with Wilder smoothing, rose to 51.05 from 43.69. Moving above 50 provides momentum confirmation for the rebound, while the reading remains below the conventional 70 overbought threshold. Four-hour RSI was stronger at 64.82, reflecting the sharp short-term advance.
The latest completed four-hour candle reached $1,296 and closed at $1,260.25. This intraday break above $1,284.78 was not confirmed by a completed daily close.
The broader October structure also retains lower highs from the September peak.
A daily close above $1,284.78 would confirm a break of immediate resistance and improve the path toward $1,303–$1,335.
A close below $1,189.88 would weaken the rebound, with $1,150.80 and $1,108.86 next. Losing $1,047.63 would invalidate the recovery.
The current aggregate quote is 4.51% above the $1,204.87 snapshot in the October 16 report.
Pump.fun Rebounds as ATR Keeps Volatility Elevated Pump.fun closed Tuesday at $0.004864, advancing 8.91% after a $0.004325–$0.004878 session. The close recovered Monday’s $0.004586 high but stopped below $0.004878 and the October 14 high at $0.005130.
PUMP/USD daily ATR (14) remains near $0.000596, or 12.25% of price, as the token rebounds toward $0.004878–$0.005130 resistance. The 14-day Average True Range, using Wilder smoothing, stood at $0.000596, down slightly from $0.000599. That equals approximately 12.25% of Tuesday’s close, indicating that recent daily ranges remain wide relative to price.
ATR measures volatility, not direction, so it does not confirm that the rebound will continue.
The latest completed four-hour candle closed at $0.004738 after touching $0.004963. The move cleared Tuesday’s high intraday but failed to hold above it at the four-hour close.
A daily breakout therefore remains unconfirmed.
A daily close above $0.004878 would strengthen the recovery toward $0.005130, followed by $0.005503–$0.005610.
A close below $0.004325 would weaken the setup and expose $0.004153. Losing the October 18 low at $0.003788 would invalidate the current rebound.
Crypto asset manager Grayscale continues to take innovative steps regarding cryptocurrencies. In its latest announcement, Grayscale stated that it will allow investors to invest in spot cryptocurrencies like Bitcoin directly in exchange for shares in its ETFs and other investment products.
Accordingly, Grayscale has implemented an in-kind subscription model in 10 of its products, allowing investors to exchange eligible digital assets for direct investment product shares. The new model aims to facilitate the integration of crypto assets into traditional portfolio management.
The Need for Cash Conversion is Decreasing!
Grayscale has announced a new investment method for some of its investment products. This system allows investors to directly exchange their crypto assets for shares in Grayscale’s investment products without first having to convert them to cash.
The company stated that this method could reduce operational burdens stemming from custody and security processes, lower transaction costs in crypto markets, and facilitate the inclusion of digital assets in traditional investment portfolios.
10 Cryptocurrencies, Including Bitcoin and Ethereum, on the List!
According to Grayscale, the subscription service includes 10 investment products, including Bitcoin and Ethereum: “Bitcoin, Ethereum, Avalanche, Chainlink, Dogecoin, Hyperliquid, Solana, XRP, Sui, Zcash”
“Grayscale Bitcoin Mini Trust ETF (BTC)
Grayscale Ethereum Staking Mini ETF (ETH)
Grayscale Avalanche Staking ETF (GAVA)
Grayscale Chainlink Trust ETF (GLNK)
Grayscale Dogecoin Trust ETF (GDOG)
Grayscale Hyperliquid Staking ETF (HYPG)
Grayscale Solana Staking ETF (GSOL)
Grayscale Sui Staking ETF (GSUI)
Grayscale XRP Trust ETF (GXRP)
The Zcash ETF (ZCSH)”
Finally, according to Grayscale’s statement, the service is available to eligible investors. Clients wishing to trade on the primary market must work with authorized participants or the institutions that act as intermediaries for these participants.
*This is not investment advice.
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TLDR A wallet tied to the April Drift hack sent 25,710 ETH, worth about $63.1 million, into Tornado Cash on Oct. 20. The wallet made 258 deposits over two hours and 13 minutes, leaving about 3.98 ETH behind. Drift estimated about $280 million was taken in the April 1 attack, which Mandiant linked to North Korean group UNC6862. Drift opened DFX token claims on Oct. 1, giving users one DFX for each USDT of verified loss. As of Oct. 4, the redemption quote was about 0.0104 USDT per DFX, close to one cent per USDT lost. A wallet tied to the April hack of crypto trading protocol Drift sent 25,710 ETH into the Tornado Cash mixer on Oct. 20. The transfers were worth about $63.1 million.
The address is labeled “Drift Exploiter 5” on the blockchain explorer Etherscan. The deposits were the wallet’s first outgoing Ethereum transactions, and they left it nearly empty.
How the Transfers Happened The wallet made 258 deposits to the Tornado Cash router. It sent 257 deposits of 100 ETH each, followed by one final deposit of 10 ETH.
The first deposit was confirmed at 07:08:35 UTC in block 26,232,203. The last came at 09:21:35 UTC in block 26,232,865. The full sequence took two hours and 13 minutes.
After the transfers, the address held about 3.98 ETH. The dollar value of the deposits is based on an average Ethereum price of $2,450 on Oct. 20.
On-chain analysis account Lookonchain separately reported that the exploiter wallets it tracks hold a combined 81,864 ETH.
Drift was attacked on April 1, more than six months before these transfers. In an April 2 disclosure, the protocol estimated that about $280 million had been withdrawn.
Drift said the attacker took over the administrative powers of its Security Council. The attacker used durable nonce accounts to pre-sign transactions and delay when they were carried out.
According to Drift, this allowed the attacker to get unauthorized or misrepresented transaction approvals in advance. At the time, the protocol said it had not found a bug in its programs or smart contracts.
In a June 4 update, Drift said the investigation it hired Mandiant to carry out linked the attack to UNC6862. That is a North Korean threat group.
How Drift Plans to Repay Users Drift has set up a Recovery Pool to return funds to affected users. Money recovered through freezes, a bounty, or law enforcement goes into the pool. A share of the platform’s net protocol revenue is also added.
The protocol opened claims and redemptions for its DFX token on Oct. 1. Users receive one DFX for each USDT of verified loss.
Holders can trade their DFX for USDT at the quoted redemption amount. The tokens they submit are burned in the same transaction.
Users who redeem give up their share of future pool deposits for those tokens. Those who redeem only part of their holdings keep that share for the DFX they hold onto.
As of Oct. 4, the quote was about 0.0104 USDT per DFX. That is close to one cent per USDT lost.
In an April 16 update, Drift proposed up to $127.5 million from Tether and $20 million from other partners. The plan included a revenue-linked credit facility, an ecosystem grant, and market-maker loans.
The Oct. 20 deposits show where this wallet’s ETH went. How much of the stolen money will return to the Recovery Pool is still unknown. Ethereum was last trading at $2,462.20, up 3.55% over the past 24 hours.
The privacy startup said its encryption coprocessor is now in production with dual-mode tokens and two launch apps, and that Consensys Diligence audited the system.
Fhenix's encryption coprocessor is now live on Ethereum and Arbitrum mainnet
Posted October 21, 2026 at 9:00 am ET.
On Ethereum, a wallet’s holdings are public by default: anyone with the address can see what it owns, what it trades and when. Fhenix, a startup building privacy tools for Ethereum, said Wednesday that smart contracts on Ethereum and Arbitrum mainnet can now work with balances, positions and trading strategies that remain encrypted onchain, while the contract still enforces its rules.
The company said its CoFHE coprocessor, built on fully homomorphic encryption (FHE), is now in production on both networks. Until the launch, CoFHE ran only on public test networks.
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How It Works FHE is a form of cryptography that lets a computer do math on data without decrypting it first. According to Fhenix, CoFHE handles the heavy encrypted computation off-chain and passes the results back to contracts on the two chains. Developers add it with one Solidity import and encrypted data types that, the company said, behave like normal variables.
The launch also brings Fhenix’s dual-mode token design into production. Tokens issued under Fhenix’s dual-mode standard carry a confidential mode next to their public one, according to the company, and a holder can shift a balance into confidential mode in one transaction and switch it back when needed. Fhenix said those tokens never leave their home chain, are not wrapped or bridged, and keep working with existing wallets, exchanges and DeFi apps.
Fhenix said Consensys Diligence audited the system before launch. Unchained could not find a public copy of the audit report.
First Apps and What Comes Next Two design partners went live on day one, according to Fhenix: Fluton, which the company describes as a confidentiality engine built on encrypted intents, and AlphaEngine, where strategists compete for users’ liquidity with strategies that stay encrypted, so their methods remain private. A December 2025 post on Fhenix’s blog said AlphaEngine’s operators decrypt and match users’ swap intents in a step designed to run inside a trusted execution environment, a secure hardware enclave.
Fhenix said three more apps will launch on CoFHE in the fourth quarter, and that it plans to name two strategic partnerships with institutions in the coming weeks. Founder Guy Zyskind said in the announcement that the team is “working on a confidential stablecoin together with Tandem,” Offchain Labs’ venture arm that invested in Fhenix in 2025. Offchain Labs develops Arbitrum.
Fhenix is not the only team bringing FHE to stablecoins. In late May, a court order led Circle to freeze about $12.6 million held in a confidential USDC contract run by Zama, another FHE developer, locking funds of users unconnected to the case.
Steven Goldfeder, co-founder and CEO of Offchain Labs, said in Fhenix’s announcement that the launch is “the beginning of something big: a programmable economy with programmable privacy, fully composable for the end user.”
Related Listen: ‘Like a Peanut Butter Allergy’: Why Institutions Need Onchain Privacy
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
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