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2 hours ago

According to monitoring by Onchain Lens, a Bitcoin whale deposited 138 million USDC into Binance. The whale currently holds 200 million USDC and 61.68 million USDT, with a combined value of approximately $262 million.

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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.

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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.

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Onchain trackers put the theft between $93.2 million and $103.4 million, and Bitquery says the thief moved USDC out of five wallets before any freeze.

Ledger says confirmed drains trace back to reseller CryptoBilis

Posted October 12, 2026 at 12:23 pm ET.

Ledger said on Oct. 11 that “the volume of impacted devices is limited,” and that every confirmed case in the Oct. 9 wallet drains traces back to one seller. “To date, all confirmed cases related to the disclosed draining incident of Oct 9th, 2026, involve devices sold through the Southeast Asia reseller CryptoBilis,” the hardware wallet maker wrote, adding, “Our systems and direct sales channels remain unaffected.”

The 72-hour update did not include a loss figure, a count of affected devices, or an explanation of how the devices were tampered with.

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What Ledger Told Buyers A day earlier, the Ledger Support account said in a post on X that “one of the impacted users’ devices contained an unauthorized hardware implant.” It added that CryptoBilis had stopped selling hardware wallets until the investigation ends.

Ledger told CryptoBilis customers not to set up unused devices and, if they already had, to move to a new recovery phrase on a device from Ledger. It said it is working with authorities, reviewing controls on its authorized resellers, and reminding them “never to restock returned products.”

How Much Was Taken Without a number from Ledger, the totals come from onchain trackers, and they do not agree. Blockchain data firm Bitquery tallies $93.2 million across six blockchains, pulled from 315 wallets and mostly held as USDT on TRON. Security research site YFarmX puts the figure at $103.4 million from 530 addresses on seven blockchains, after adding nine more drained TRON wallets in an Oct. 12 update. Unchained first reported the drains on Oct. 9, when early tallies were built from a handful of public addresses.

Where the Money Went Per Bitquery, Tether blocked 37 addresses linked to the theft, leaving $10 million in USDT frozen across 20 of them. The blockchain data firm said it traced 2,990 ETH that the thief pushed through Tornado Cash and then Zcash to seven wallets, five of which held 5.35 million USDC on Oct. 11 and were emptied, ahead of any freeze. Bitquery put the amount it could still follow onchain at about $86 million on Oct. 11.

“The record points to one actor who held the keys to every one of those wallets,” Bitquery wrote in its investigation, while noting that “the chain cannot show where the keys leaked from.”

Related Listen: How Cory Klippsten Would Decide How to Secure Bitcoin Post-Coldcard

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.

Weekly Trading Data Show Crypto Markets May Expect Prices to Fall

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.

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A crypto whale reallocated its UBTC holdings into 16,700 ETH, worth $42.46 million.

According to monitoring by AI Aunt, a crypto whale address swapped its UBTC holdings for 16,704.47 ETH over the past 22 hours, worth approximately $42.46 million, at an average purchase price of around $2,541.89.

4 minutes ago

Microsoft's stock price has hit a nearly one-year high, and the company announced plans to massively deploy its in-house developed AI chips.

According to BIT (Bit.com) market data, Microsoft’s stock price hit a near one-year high, rising 0.8% intraday. On the news front, Microsoft plans to gradually increase the use of its self-developed AI chips in data centers to reduce reliance on NVIDIA GPUs. Microsoft stated that it will mainly rely on its self-developed Maia chip architecture to handle AI model requests in the future, and plans to deploy several gigawatts of computing power on the Maia series chips. Microsoft unveiled its third-generation AI accelerator chip, the Maia 300, on Monday, which is expected to enter production in 2027. Each data center rack can hold 96 Maia 300 chips, double the number of the previous-generation Maia 200; compared with GPUs, its AI token processing capacity per rack can reach up to 7 times higher, and the number of tokens processed per megawatt increases by approximately 40%. Microsoft said the Maia 300 is expected to boost AI service performance and lower data center operating costs. Evercore ISI analysts forecast that by the first quarter of 2027, Maia chips will account for around 10% of Microsoft’s AI chip spending.

4 minutes ago

GTC has surged 272% over the past 30 days, lifting its market cap to $28.9 million.

According to HTX market data, Gitcoin (GTC) has surged an additional 57% in the past 24 hours, currently trading at $0.2871, with its market capitalization climbing to $28.9 million. The token has rallied 136% over the past seven days and 272% over the past 30 days. Upbit officially announced today that it has listed Gitcoin (GTC), supporting trading pairs for the South Korean won (KRW) and Tether (USDT).

4 minutes ago

Goldman Sachs upgrades its short-term global equity rating to "Overweight", forecasting the S&P 500’s third-quarter earnings growth rate will reach 27%.

Goldman Sachs has upgraded its global stock rating from "neutral" to "overweight" for the next three months, while retaining its bullish stance over the coming 12 months. The bank noted that sustained corporate earnings growth, stock valuations pulling back from summer highs, and reduced investor positioning have improved stocks’ risk-reward ratio. FactSet data shows the S&P 500’s 12-month forward price-to-earnings ratio has fallen from 21.1x in early June to 19.1x, compared to roughly 22x at the start of the year. Goldman Sachs projects S&P 500 constituents will post 27% year-over-year earnings growth in the third quarter, marking the third consecutive quarter of earnings gains exceeding 25%, with AI infrastructure investment remaining a key driver. On regional allocation, the bank maintained "overweight" ratings for U.S. and Asian stocks, and an "underweight" rating for European equities. Meanwhile, Goldman Sachs upgraded its 12-month government bond rating to "overweight", recommending a "barbell strategy": allocate to tech stocks on one end, and stocks with bond-like characteristics on the other, while favoring shorter-duration bonds and cash assets. The bank also warned that rising U.S. Treasury yields, higher energy prices, and uncertainty around the U.S. midterm elections could still exacerbate market volatility. Its bullish outlook remains contingent on sustained delivery of corporate earnings and no further deterioration in financial conditions.

4 minutes ago

Bitcoin ETFs see $10.49M inflow, but Ethereum ETFs suffer $64.22M outflow in latest trading

Oct 12 Update:
#Bitcoin ETFs:
1D NetFlow: +127 $BTC(+$10.49M)??
7D NetFlow: -8,538 $BTC(-$704.12M)??
#Ethereum ETFs:
1D NetFlow: -25,446 $ETH(-$64.22M)??
7D NetFlow: -208,593 $ETH(-$526.4M)??

4 minutes ago

Analysis: Bitcoin may trade sideways within the range of $81,300 to $84,500 this week, with Wednesday's CPI data determining its subsequent direction.

Bitfinex Alpha released a report stating that Bitcoin’s price movement this week will be influenced by Wednesday’s U.S. CPI data release and the strength of spot buying. The report predicts that before the CPI announcement, BTC will likely trade in a range of $81,300 to $84,500. It notes that BTC has fallen 7.9% from its October 2 high of $87,197, hitting a low of $80,347 on October 8 before reclaiming the previous range high of $81,300. During the same period, around $1.18 billion in crypto positions were liquidated, and open interest has not yet recovered significantly, meaning the next market move will rely more on spot market demand, which remains the weakest link in the market. The overall cost basis for Bitcoin ETF investors is approximately $84,340, slightly above the current price, so some investors may sell near their cost basis if the price rebounds. On the macro front, the U.S. core PCE inflation rate stands at 3%, and the 10-year U.S. Treasury real yield is 2.91%. The report argues that if core CPI’s month-over-month increase does not exceed 0.2%, interest rate expectations may be lowered, providing upward momentum for BTC; if it hits 0.3% or higher, spot buying will face greater pressure. The report adds that if BTC successfully breaks above $84,500 supported by ETF inflows, its next target could be the year-to-date opening price of $87,722; if it consistently falls below $81,300 and ETF outflows resume, attention should be paid to the real market average of around $77,400.

4 minutes ago

Samsung plans to add USDC transfers to its Wallet app during the last week of October. The company says 82 million U.S. Galaxy devices are compatible, but access will depend on age, residence, operating system, identity checks and supported destinations. A phone that can run the feature is not the same as a person who has opened and funded a stablecoin account.

Summary

Samsung Wallet plans USDC support in the last week of October for eligible U.S. Galaxy users, with 82 million compatible devices cited as reach rather than active customers. Users must be at least 18, hold a Samsung account, have a compatible device running Android 13 or later, complete identity checks and set up biometric authorization. Transfers to compatible crypto wallets may carry no Samsung fee, while transfers to eligible bank accounts in more than 60 countries carry destination dependent fees. Bastion will operate custody, account and compliance services with Coinbase Prime Vault as subcustodian; Solana and Sui are named blockchain infrastructure partners. Samsung has described future online and in store payments as possible additions, not services promised for the first rollout. Samsung’s October 7 announcement says eligible Galaxy owners in the United States will be able to send USDC to compatible external wallets and bank accounts abroad. The built in interface removes the need to install a separate crypto app or manage private keys personally. That convenience rests on regulated partners running the account and transfer infrastructure behind the screen. Samsung itself says it will not be the bank, custodian or money transmitter holding customer funds.

JUST IN: Samsung taps Solana for $USDC payments for its Galaxy users in the U.S.

The rollout will let Samsung Wallet users move money internationally through Solana, with the feature expected to reach 82M Galaxy devices starting in the final week of October. pic.twitter.com/Hd1FYVqFqK

— crypto.news (@cryptodotnews) October 8, 2026 The full eligibility and fee notes sharply narrow the headline device count. Applicants must be U.S. residents aged 18 or older with a Samsung account and compatible Galaxy hardware running Android 13 or later. They must complete identity verification and biometric setup. A qualifying sender still needs an allowed destination and recipient. The rollout is scheduled for the last week of October and has not begun as of October 12.

82 million devices are an addressable base Samsung says 82 million Galaxy devices in the United States are compatible with the stablecoin functionality. The footnote explicitly defines the figure as compatible devices, not unique adults, verified customers or active senders. Some people own more than one device. Others will not want a stablecoin account, fail onboarding, live outside the applicable residence test or use a phone without the required system version.

Even among eligible owners, payment utility depends on funding and a reason to send. Someone who never purchases USDC does not add to transfer volume. A person who moves funds once to test the app contributes differently from a household that sends remittances every month. Samsung has not published forecasts for enrollment, balances, monthly active users, transfer value or cross border corridors. Converting 82 million directly into a user count would be an error.

The age and residence terms restrict access at launch. A Galaxy user overseas may own the same model but cannot infer eligibility from hardware. Samsung says future international expansion will depend on regulatory conditions in each country. Recipients outside the United States may be able to receive into supported wallets or bank accounts, but that does not make the full Samsung Wallet account service available to them.

Identity verification makes onboarding different from sending an ordinary contact or picture from a phone. Bastion will screen users and transactions under its regulated infrastructure, according to its partner announcement. A registered Galaxy device and biometric confirmation are intended to authorize each transfer. Neither measure removes fraud risk if a user is tricked into sending to an attacker controlled address or a recipient supplies the wrong wallet network.

Samsung says access appears inside the Wallet interface used for payment cards and other credentials. A familiar button may lower setup friction, but bank account funding, purchase limits, identity decisions and recipient availability still determine whether it becomes a routinely used money service. The first post launch metric should be successfully onboarded senders, not the number of phones on which an icon can appear.

Two routes leave the Wallet app The first route sends USDC to an external wallet or exchange account that accepts USDC on a blockchain supported by Samsung Wallet. Samsung says eligible transfers can complete in seconds and that it does not charge a transfer fee for this route. Its footnotes caution that a receiving provider may charge its own fee and that timing depends on network conditions. A sender must check the token, chain and destination address before confirming.

The second route sends value to a qualifying bank account in one of more than 60 destination countries, with a recipient potentially receiving local currency rather than a crypto token. Bastion says it converts USDC and routes payouts through local regulated partners. Samsung states that bank transfer fees vary by destination and amount and that the app will display them with an estimated delivery time before confirmation. Bank eligibility and local operating conditions can delay or prevent payment.

JUST IN: Apple and Samsung signal potential stablecoin support for Apple Pay

Apple has posted a job listing seeking stablecoin expertise with compensation of up to $280,000, while Samsung is also reportedly planning stablecoin support for Samsung Wallet; together, the two… pic.twitter.com/UFkIcFdj9m

— crypto.news (@cryptodotnews) September 21, 2026 These routes solve different customer problems. A wallet to wallet transfer leaves the recipient with a digital dollar that they may hold, spend or convert themselves. A bank payout is a remittance service that includes foreign exchange, local payment rails and account validation. “No transfer fee” in Samsung’s crypto wallet route should not be pasted onto the bank payout route. The exchange rate and local currency amount matter alongside the stated fee.

For a household comparing providers, the relevant number is what reaches the recipient after all charges and conversion. A low displayed transfer fee can be outweighed by a worse currency rate or a recipient bank charge. Samsung has not published a complete country list or fixed corridor price table in the release. A launch day comparison will require an actual quoted amount, a destination, a timestamp and confirmation that the recipient account type qualifies.

Samsung’s announcement describes future online and tap to pay stablecoin purchases as possibilities. The launch product is a transfer service. A merchant cannot assume that every Galaxy user will pay with USDC at checkout in the last week of October, and an analyst cannot count retail payment transactions before the function exists.

Who holds the USDC? Bastion is the licensed infrastructure provider handling stablecoin accounts, custody operations, identity controls and remittance functions, according to Samsung and Bastion. Coinbase acts as its subcustodian through Coinbase Prime Vault. Bastion says it maintains a ledger for user balances and executes transfers on supported blockchains. Samsung supplies the user facing Wallet environment and device authentication but says it does not hold the customer’s funds.

This division matters when something goes wrong. A missing balance could involve a user interface, a partner ledger, a custody account, an onchain transfer or a payout institution. The parties’ public releases identify broad roles but not every dispute process, insurance limitation or allocation of responsibility for an erroneous destination. Customers need the service terms and a transaction reference to determine who can correct a particular problem.

Private keys are not managed directly by the user in this design. That can reduce the risk of losing a recovery phrase while introducing reliance on account access and the providers’ controls. An owner whose registered phone is lost, stolen or replaced would need an account recovery process that preserves security without trapping legitimate balances. Samsung emphasizes biometric authorization on registered hardware, but the product announcement does not detail every recovery and dispute scenario.

Custody at a regulated partner should not be confused with a bank deposit at Samsung. USDC is a stablecoin and carries issuer, custody and operational exposure, while an outbound bank transfer includes additional intermediaries. Samsung’s service footnote says accounts, custody and money movement come from partners. A user should know which entity owes them a balance before treating an in app number as equivalent to cash in a checking account.

The separation may help Samsung scale without becoming a direct custodian in each country. It also means availability depends on partner licenses and sanctions screening. Bastion says it checks addresses and monitors transactions for fraud and money laundering risks. A transfer might be refused or held while a provider checks it; the announcements do not promise unrestricted transfers to every compatible address.

Solana and Sui are both in the plan Samsung names Solana and Sui among blockchain infrastructure partners. Solana’s announcement emphasizes USDC remittances on its network from late October. Sui’s account describes access to USDC on Sui and gasless transfers. Samsung’s own release names both as partners, without publishing a definitive menu of which network and destination combinations will be available to each customer on the first day.

An external recipient must be compatible with the network selected in Samsung Wallet. A USDC token on one chain is not automatically deliverable to an address expecting another chain’s asset. An app that abstracts chain selection could help, but a sender should still review the destination and any network label. The wallet’s actual validation prompts and supported route list should be checked when the service goes live.

The promise that a user does not manage private keys does not mean blockchains vanish. Bastion will execute transfers and record balances while network partners supply transfer rails. If a blockchain is congested or experiences an interruption, the customer may see a pending transfer even though the Samsung interface is working. A bank payout can also be delayed after the onchain part completes because local payment systems have their own processing windows.

Network fees and customer fees are separate accounting items. Samsung says it charges no transfer fee for external wallet sends; a partner could cover an underlying chain cost, or network design could reduce it. An infrastructure claim about gasless transfers on Sui does not imply every bank payout is free. Samsung’s fee notes specify that charges for recipient bank transfers depend on the corridor and amount.

SUI and SOL holders should avoid translating the 82 million device figure into token demand. Even if transfers use a chain, the gas cost per payment may be small or paid by a partner. The relevant figures are actual transfer counts by chain, fees paid in native tokens and operating balances held by service providers. None has been reported for Samsung Wallet’s forthcoming service.

Remittances depend on the last mile Bank account payouts require a local institution or payment provider to receive instructions and deliver domestic money. Bastion says its network of local regulated partners handles that part. Availability in more than 60 countries does not guarantee support for every bank, account type, recipient or transfer amount in a country. Samsung’s own terms say recipient eligibility varies.

A successful sender experience has several checkpoints: purchase or receipt of USDC, authorization on a registered device, partner screening, conversion, local payout and a recipient confirmation. A failure at one checkpoint should produce an intelligible status and a route to refund or resolve the transfer. Samsung has not published corridor level completion rates, refund times or dispute statistics ahead of launch.

Exchange rates can change between initiation and completion if a quote is not locked under the applicable terms. The exact policy needs examination in the product’s live disclosure. A sender may see an estimate before final confirmation, and the recipient may care more about the final local currency than the USDC amount debited. A fair comparison with conventional remittance apps requires the same sending amount and destination at the same time.

For a recipient with an external crypto wallet, the last mile may be a local exchange or merchant willing to accept USDC. No Samsung fee on the onchain send cannot remove those conversion or cash out costs. If the recipient instead receives a bank deposit, Bastion and its partners handle conversion but may charge for that convenience. Neither route is universally cheaper without a specific corridor quote.

Coverage of the product announcement pointed out that Samsung had not published a full destination list or detailed bank transfer fee schedule. The lack of a table prevents a rigorous numerical claim about savings today. A feature can establish the service architecture and identify what to test in the app when it opens.

How adoption could be judged after launch The rollout is scheduled for the last week of October, so October 12 is too early for performance statistics. Samsung’s first announcement gives potential reach, eligibility, partner structure and planned destinations. Verification begins when a real eligible user can enroll, fund an account and complete a transfer to a supported recipient. Screenshots or a press demo are not substitutes for repeated settlement across corridors.

Useful measures include verified users, first successful sends, repeat monthly senders, median transfer size, share of bank payouts versus wallet transfers and completion time by route. Net recipient amounts and total costs would allow comparison with bank wires and other remittance providers. A country count alone may hide a concentration in a handful of heavily used destinations.

Fraud and service interruptions need equal attention. Biometric approval can confirm that a phone owner authorized an action but cannot establish that a recipient is trustworthy. Recovery time after a stolen device and support for mistaken addresses matter. A product with rapid settlement should make recipient verification and transfer status clear before a sender commits funds.

Commercially, Samsung may benefit from more frequent Wallet use even if it never issues a token. Bastion, Coinbase and payout partners may earn fees or other revenue under undisclosed contracts. Solana and Sui may process transfers. Circle’s USDC could gain distribution. The initial releases do not disclose revenue shares, customer acquisition targets or the number of stablecoin dollars Samsung expects to move.

The distinction between compatible hardware and service users will persist after release. Reporting 82 million devices is a useful distribution fact. Reporting actual account activations and successful payments will be a use fact. Both belong in coverage, but only the latter can establish whether the rollout changes cross border payment behavior.

What the transfer screen cannot settle Samsung’s announcement leaves several consumer protections to the partners’ service documents. A transfer may be authorized by a registered device yet later placed on hold by screening. A sender may dispute a payout that a local bank rejects. An onchain transfer to a valid but wrong address can be difficult or impossible to reverse after settlement. Each event has a different responsible party, and a polished app interface alone does not tell the customer whom to contact.

Account recovery is particularly important for a phone centered wallet. If a user loses their Galaxy device, biometric verification on that phone can no longer approve a transfer. The recovery procedure must establish the person’s identity, revoke the old device where appropriate and secure access on a replacement. A criminal who takes over a Samsung account may attempt to add hardware or reroute money. Samsung and Bastion say they use identity and device controls, but the public release does not describe recovery waiting periods, transaction limits or reimbursement rules.

Custody arrangements have a similar boundary. Coinbase Prime Vault may safeguard pooled USDC under Bastion’s instructions, while Bastion’s customer ledger records each user’s share. An onchain explorer can display a pooled address without revealing the legal entitlement of each app customer. An audit of assets should be compared with liabilities on Bastion’s ledger and the terms of the subcustody arrangement. Samsung has not published a service specific proof of reserves or individual account statements ahead of launch.

Sending to a bank account requires a separate identity match and local payout acceptance. The recipient may need a name and account number that pass screening, and a local bank may reject or return an incoming transfer. A refund could take a different path from the original send because USDC was converted to local currency. Questions about exchange rate changes and fees on a returned payment cannot be answered from the rollout announcement; the live terms should disclose them.

JUST IN: PayPal launches PYUSDx, a stablecoin infrastructure allowing companies to build branded stablecoins on top of PYUSD

The infrastructure layer is already live with Saturn, Concrete and Cap, processing more than $100M in volume and shifting PayPal’s focus from owning the… pic.twitter.com/BKg6IX5mVF

— crypto.news (@cryptodotnews) September 12, 2026 Funds entering the service raise another cost question. Samsung says a “Buy Stablecoin” option will show USDC as the default dollar token. The release does not give a universal price for purchasing USDC with a card or bank transfer or describe every funding method. The customer may pay for an onramp even when Samsung does not charge for the later onchain send. A comparison that starts only at the transfer button would omit part of the total remittance cost.

The network a sender chooses affects the recipient too. Some exchange deposit addresses support USDC only on a selected chain. A deposit sent on another network may not be credited automatically even if the token name is the same. Samsung’s footnote limits compatible wallets to those supporting USDC on a network the Wallet service supports. Launch day testing should inspect whether the interface checks the receiving chain and how prominently it warns about an incompatible destination.

Stablecoin value is another distinction from payment certainty. USDC is intended to track a dollar, but the app user still depends on the issuer’s redemption arrangements and the price available during conversion. For an eligible bank recipient, Bastion’s payout partners need enough local currency liquidity to deliver the quoted amount. A chain settlement in seconds does not guarantee a bank deposit in seconds. Samsung itself states that bank delivery times vary.

None of these unanswered items means the service cannot work. They identify what turns compatible hardware into an actual financial product. A reporter can enroll under the published terms when access opens, quote a transfer to a real supported corridor without sending sensitive account details, and compare the confirmed fee and rate with an alternative on the same day. Later reporting can use completed transfers and recipient outcomes instead of treating the initial device count as adoption.

What to watch Launch date: Check whether the service becomes available during the last week of October as Samsung plans. Eligibility: Test the U.S. residence, age, Android version, Samsung account, identity verification and biometric requirements. Destination list: Confirm supported wallet networks and eligible bank accounts in each advertised country. Actual cost: Compare recipient local currency after fees and exchange conversion, not only Samsung’s no fee wallet transfer claim. Custody and support: Read Bastion and Coinbase service terms for balance ownership, device recovery, errors and disputes. Adoption: Seek verified active senders, repeat transfers, corridor specific delivery times and chain level transaction figures. FAQ Is the Samsung USDC service live today? No. Samsung scheduled the Wallet rollout for the last week of October 2026. Availability may depend on eligibility and device rollout.

Who can sign up in the United States? Eligible U.S. residents aged 18 or older need a Samsung account, a compatible Galaxy device on Android 13 or later, identity verification and biometric setup.

Are all 82 million compatible phones active users? No. Samsung describes 82 million as the number of compatible U.S. devices. It is not an enrollment or usage statistic.

Is sending USDC free? Samsung says it does not charge a fee for eligible transfers to compatible external wallets, though recipients’ providers may charge. Bank account remittances have fees that vary by destination and amount.

Does Samsung custody the stablecoins? Samsung says partners provide stablecoin accounts, custody and money movement. Bastion operates those services with Coinbase Prime as subcustodian.

Which blockchains are supported? Samsung names Solana and Sui as infrastructure partners. The full first day route and network menu should be confirmed in the live app.

Can recipients receive local currency in a bank? Eligible bank accounts in more than 60 countries are in the planned service. The specific banks, fees and delivery times depend on the destination.

Can users pay at shops with USDC in Samsung Wallet? Samsung described online and in store stablecoin payments as potential future features. The initial announcement concerns transfers.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of October 12, 2026.

October 12th, 2026 – Dubai, United Arab Emirates

Bybit, the New Financial Platform trusted by more than 80 million users worldwide, has launched Full Stocks Ahead, a 20-day campaign with a 150,000 USDC prize pool that rewards eligible users for trading U.S. stocks and ETFs on Bybit.

The campaign runs from today till Oct. 31, 2026, and follows the launch of Bybit’s stock trading service, which gives eligible users access to more than 1,000 U.S. stocks and ETFs from the same account they use for crypto. Full Stocks Ahead is built to help first-time stock traders place their first trade and to reward active traders who keep trading through the month.

The prize pool is split across four parts: a first-trade reward, a daily reward box, the 100,000 USDC Stock Splash trading competition, and a 20,000 USDC leaderboard for Bybit affiliates.

How the Campaign Works

Daily reward box: Each day, eligible users who trade more than $2,000 in stocks receive a reward box containing up to 50 USDC.

Stock Splash trading competition (100,000 USDC): Participants share the prize pool in proportion to their eligible trading volume, with an individual cap of 5,000 USDC. To qualify, a participant must trade at least $1,000 in stocks during the campaign and hold at least $1,000 in stocks when the campaign ends. Two multipliers apply:

Early trading: volume traded on Days 1–5 counts at 1.4x, stepping down to 1.3x (Days 6–10), 1.2x (Days 11–15), 1.1x (Days 16–18), and 1.0x (Days 19–20).

Average holdings: an average daily stock balance of 1,000–10,000 earns a 1.1x multiplier, 10,000–100,000 earns 1.2x, and more than $100,000 earns 1.5x.

How to take Part

Eligible users can register on the Full Stocks Ahead campaign page and start trading stocks from the Bybit app or website. The campaign is open to main accounts in regions where Bybit’s stocks trading service is available. Pro accounts are not eligible. Final holdings for the Stock Splash competition are measured at the close of the campaign on Oct. 31, 2026, 0:00 UTC.

Full details, including reward distribution timelines, are available on the campaign page. Terms and Conditions apply.

Disclaimer

Bybit Stocks: Bybit Stocks service is provided by Infra Capital Limited (introducing broker), regulated by the Financial Services Commission, Mauritius (GB23202169). US securities clearing, settlement, and custody services are provided by Alpaca Securities LLC (dba “Alpaca Clearing”), a FINRA/SIPC member. Some corporate actions may be restricted at this time. Access and ownership are subject to the Bybit Stocks Terms & Conditions. Capital at risk – you may get back less than you invested. Please read the Risk Disclosures before investing.

Participation is subject to eligibility requirements. This event is not available to residents of Dubai.

#Bybit / #NewFinancialPlatform  

About Bybit

Bybit is The New Financial Platform.

We believe every person should have access to every financial opportunity on earth. That’s why we’re building the first intelligent platform that connects anyone, anywhere to the world’s finance.

Trusted by more than 80 million users worldwide, Bybit brings together investing, trading, payments, and wealth-building in a single secure and intelligent ecosystem. Through the combination of AI-powered technology, deep global liquidity, robust security, and transparent operations, Bybit makes global finance more accessible, efficient, and empowering for everyone.

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solana coin

Circle has minted approximately $3.5 billion worth of USDC on the Solana blockchain over the past week, as reported by @SolanaFloor. This substantial issuance adds to the overall supply of the stablecoin on the network, suggesting heightened activity and liquidity. While this development could indicate increased use of USDC on Solana, it does not necessarily confirm that all minted tokens have entered circulation or signify a direct rise in market demand.

The minting of USDC by Circle, a prominent player in the stablecoin market, reflects its ongoing commitment to expanding the availability of its dollar-pegged token across various blockchain networks. As of October 8, 2026, Circle reported a global USDC circulation of about $73 billion. The recent minting on Solana aligns with broader trends of leveraging the blockchain’s speed and low transaction costs to facilitate digital asset transactions.

Market participants have taken note of this significant minting activity, which may impact Solana’s market dynamics. Observers suggest that increased liquidity could potentially influence Solana’s price, though the ultimate effect remains uncertain.

Key Takeaways The recent minting of $3.5 billion USDC on Solana by Circle suggests increased liquidity and network activity. This development aligns with Circle’s strategy to expand USDC’s availability across various blockchains, contributing to its $73 billion global circulation. Market participants are considering the implications of this issuance on Solana’s price, with potential for positive influence, though the outcome is not guaranteed. What to Watch Observers will be watching for any immediate impacts on Solana’s market price, especially in relation to the $190 price target for October. Key indicators include any announcements from Solana Labs or significant changes in volume and liquidity. Additionally, regulatory developments or further integration announcements involving Solana and USDC could provide further clarity on the network’s future performance.

Term Structure

Contract Odds Δ since publish Volume 24h November 1 2026 1.1% — — View market → November 1 2026 11.5% — — View market → November 1 2026 9% — — View market → November 1 2026 4.2% — — View market → November 1 2026 0.5% — — View market → November 1 2026 0.5% — — View market → November 1 2026 1.9% — — View market →

Fudan University's Qiu Xipeng team raises over RMB 1 billion in funding, plans to build an AI assistant similar to the one in the movie *Her*

Beating AI News (Dongcha) — Mosi Intelligence, founded by Fudan University professor Qiu Xipeng, announced the completion of over RMB 1 billion in Pre-A round financing, led by Huake Fund, with participation from Guokai Science and Technology Innovation and Shanghai Science and Technology Innovation Fund, among others. Founded at the end of 2024, the company is led by Li Shimin, a student of Qiu Xipeng, as its CEO. The proceeds from this round will be used for research and development of full-modal real-time interactive technology and global commercialization. Mosi aims to build AI that not only understands human speech but also grasps users' emotions and surrounding context. For example, if a user says "It's a bit cold" in a car, the AI will adjust the air conditioning based on in-vehicle temperature, the speaker's identity, and past preferences. It also needs to know when to respond and when to remain silent. Technically, the team has open-sourced models including MOSS-Audio and MOSS-VL-Realtime. The former can analyze emotions in speech, identify different speakers, and recognize ambient sounds. The latter can continuously process video, answer questions in real time while viewing, and revise responses based on changes in the visual feed. Currently, Mosi is integrating voice, vision, memory, and tool calling capabilities into the MOSS Live real-time interaction system, targeting use cases such as smart cockpits and AI hardware. The company said it has already delivered products to some enterprise clients, with a long-term goal of building an AI assistant like the one in the movie *Her*, capable of continuously understanding the user's context.

4 minutes ago

Hong Kong, China will list its second spot Solana ETF on October 13.

According to official announcements from Solana, Hong Kong will launch its second spot Solana ETF. The Pando Solana ETF (2831.HK) is scheduled to list on the Hong Kong Stock Exchange on October 13. Solana noted that the total net asset value of global spot SOL ETFs currently stands at $1.9 billion, with cumulative net inflows reaching $1.61 billion.

4 minutes ago

Blockchain firm Wuwen Xinqiong secures 2.3 billion yuan in Series C funding, with no plans to build data centers.

Beating AI Express News: Tsinghua-backed AI infrastructure firm Wuwei Xinqiong has secured 2.3 billion yuan in Series C financing, bringing its total funding to 4.3 billion yuan. Founded in 2023, Wuwei Xinqiong does not develop chips or build its own data centers. Instead, it integrates computing power from chips including Huawei Ascend, NVIDIA, and AMD via software, offering large language model (LLM) training and inference services to clients. Developers can also directly call models through APIs without self-deployment. Bloomberg reported on October 1, citing people familiar with the matter, that Wuwei Xinqiong has secretly submitted an IPO application to the Hong Kong Stock Exchange, with an expected listing as early as the first half of 2027. Its pre-IPO valuation is said to be around 14.3 billion yuan.

4 minutes ago

Bank of Korea Governor apologizes for insufficient risk warnings on single-stock leveraged ETFs

Bank of Korea Governor Rhee Chang-yong said on the 12th at the National Assembly’s Finance and Economy Committee state audit meeting: “We failed to issue sufficient warnings about single-stock leveraged ETFs, and we apologize to the public for this. At the end of May, I did not fully grasp the volatility in South Korea’s domestic stock market and the memory chip sector.” Additionally, regarding the Bank of Korea’s June Financial Stability Report, which had judged that single-stock leveraged ETFs “are expected to prevent domestic investment funds from flowing overseas and help expand foreign capital inflows,” Rhee also admitted the judgment was wrong, stating: “In hindsight, this assessment was inappropriate.”

4 minutes ago

The cross-chain interoperability sector has rallied sharply, with W leading the gains, followed by ZRO, AXL, STG and others.

According to HTX market data, tokens in the cross-chain interoperability sector have rallied sharply, with Wormhole (W) leading the surge, gaining over 60% in 24 hours and briefly breaking $0.03. LayerZero (ZRO) also strengthened, surpassing $2.2 with a 24-hour increase of more than 12%. Axelar (AXL) crossed $0.06, rising 9.7% in 24 hours; Stargate (STG) broke $0.2, up 23.7% in 24 hours. On the news front: Wormhole is advancing W 2.0 tokenomics, introducing reserves, staking yields and a bi-weekly unlock mechanism, and has completed multi-chain deployments for Hyperliquid HYPE as well as institutional-grade integrations including Ripple RLUSD. LayerZero has seen a sharp recent growth in TVL, launched the Bridge Sentinel security solution in partnership with Blockaid, and completed the integration of Stargate (STG) tokens into the ZRO ecosystem while carrying out ongoing buybacks. Axelar is expanding multi-chain connections, actively participating in the XRP ecosystem as a bridge for the XRPL EVM sidechain. Stargate is finalizing its token merger and migration to the LayerZero ecosystem, with multiple major trading platforms supporting STG-to-ZRO conversions.

4 minutes ago

Analysis: Bitcoin closes above $83,000 on the weekly chart, bulls remain in control

Benjamin Cowen, founder of crypto market research platform ITC, posted that Bitcoin closing above $83,000 on its weekly chart signals bulls remain in control, while bears need to prove they have taken over market dominance. Cowen noted that based on his past experience, employing the dollar-cost averaging (DCA) strategy in the second half of U.S. midterm election years is a prudent move; this strategy worked in 2018 and 2022, and he hopes it will hold true in 2026.

4 minutes ago

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.

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Altcoins

11 October 2026 | 11:32 Most perpetuals trades end with a simple result: the trader wins or loses. Papertrade adds a second outcome by issuing PAPER after eligible losses, tying its token model directly to the way its market settles trades.

Key Takeaways Eligible trading losses may trigger PAPER issuance under the protocol’s emission rules. PAPER does not replace the USDC that was lost on the trade. The same loss-funded pool is responsible for paying traders who win. The model needs both reliable winner payouts and a sustainable reason to hold PAPER. A perpetuals market built around one shared pool Papertrade is a perpetuals venue built on Hyperliquid infrastructure. Traders take leveraged positions on crypto prices without buying the underlying asset, while the platform’s settlement model relies on a shared USDC reserve called the Martingaler LP.

Like other leveraged perpetuals, the product can magnify a small price move, accumulate funding costs and liquidate an underfunded position. These are the mechanics involved in trading crypto with leverage. Papertrade adds a separate token outcome: an eligible loss may trigger the issuance of PAPER.

The USDC loss remains real. PAPER gives the trader a separate asset whose eventual value depends on the protocol’s activity, token supply, demand and the terms available to holders.

What a $100 loss leaves behind

If a trader loses $100, the USDC loss can help replenish the shared Martingaler LP. PAPER may then be issued according to the protocol’s live emission rules. The token does not restore the $100; it gives the trader a separate asset with an uncertain future value.

What PAPER leaves behind after a loss That difference is important because a token reward can be mistaken for compensation. It is better understood as a new position created after the trade has already closed. Its price may rise, fall or remain illiquid, and a trader who sells it immediately could receive far less than the USDC lost.

Papertrade’s materials describe PAPER staking as a route through which holders may participate in protocol revenue. Whether that creates durable value depends on activity, fees, token issuance, market demand and the live terms of the staking system. Traders should check the current documentation and contracts for reward formulas, transferability and restrictions before relying on any promotional description.

The model therefore places two questions in front of a losing trader. First, how much USDC could be lost through leverage? Second, does holding the PAPER received afterward make economic sense once dilution, liquidity and the protocol’s revenue are considered?

The same pool must pay the traders who win PAPER’s story cannot be separated from the pool behind the market. The USDC that enters after losses helps support the liquidity needed to settle winning positions, connecting the token mechanism to the platform’s ability to pay traders.

Papertrade’s whitepaper describes a queue for situations in which the pool does not have enough immediately available USDC to cover every profitable withdrawal. In that scenario, a winning trader may need to wait for the pool to receive further liquidity. Bankless described the same mechanism at launch as a first-in, first-out payout process.

Such a queue is a disclosed part of the proposed design, not proof that payouts will fail. It does mean that the market should be judged by its settlement record as well as its trading interface. A perpetuals venue is only as useful as its ability to deliver gains when traders are entitled to withdraw them.

A loss token can influence risk-taking The token may change how some traders approach a risky position. A person considering a highly leveraged trade could view PAPER as a possible residual benefit after a loss, particularly if they expect the protocol to grow and the token to gain demand.

That expectation can be dangerous if it becomes a reason to take a position that would otherwise be too large. PAPER is not a hedge with a defined payout, and it cannot reduce the USDC loss at the moment a liquidation or losing close occurs. Its future value must be weighed against the immediate, known cost of the trade.

There is also a supply question. Issuing more tokens after more losses may broaden participation, yet it can also dilute existing holders if protocol revenue and demand do not expand at a comparable pace. The model needs a credible connection between trading activity, settlement liquidity and value for PAPER holders; issuing tokens alone cannot create that connection.

Four places where Papertrade has to deliver First test

Can winners withdraw USDC?

The shared pool needs enough liquidity to meet profitable traders’ withdrawal claims without a prolonged queue.

Second test

Does PAPER have a reason to be held?

Its supply needs to stay connected to real demand, staking participation and protocol revenue rather than issuance alone.

Third test

How does the pool behave under pressure?

A market with more winning positions than losses could expose whether the payout mechanism works during an unfavourable trading period.

Fourth test

What do losing traders do with PAPER?

Consistent holding or staking would show a different kind of demand from immediate selling after each loss.

These measures offer a more useful view of Papertrade than token price alone. A rising PAPER price would not prove that the payout mechanism is robust, while a short period of smooth withdrawals would not settle the longer-term question of token supply and demand.

The model has two promises to meet Papertrade is trying to turn a familiar frustration in leveraged trading into part of its economic design. Instead of leaving every losing trader with only a reduced balance, it gives eligible participants a token that may have value if the venue builds lasting activity and revenue.

The approach can only prove itself if two outcomes hold together over time: profitable traders can access their USDC when due, and PAPER develops an economic role that does not rely on an ever-expanding flow of new losing trades. Until that evidence exists, PAPER should be treated as a speculative token received after a loss, rather than a recovery guarantee.

This article is provided for informational purposes only and does not constitute financial or investment advice. Perpetual futures and leveraged trading carry a high risk of loss. Product terms, token mechanics and eligibility rules may change.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

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.

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At 20:19 UTC on October 9, 2026, Coinbase Developer Platform announced that Coinbase and Gennius would bring ONED USD to Latin American banks, starting in Argentina. ONED USD is backed 1:1 by $USDC. The planned service covers stablecoin payments, custody and trading from a banking app.

Coinbase described a direct conversion route from eligible bank deposits into ONED USD. Customers would be able to transfer the stablecoin around the clock and spend through Visa. The announcement does not identify an Argentine bank, give a launch date, name a supported chain or state the fees and redemption terms. Those details determine whether the service works as a bank-integrated dollar balance or as a separate crypto product reached through the bank’s interface.

The October announcement extends a product that Gennius launched on June 15, 2026. The launch release describes ONED USD as a stablecoin for rewards, payments and digital assets across banks and financial technology partners. Gennius said the token is powered by Coinbase and fully backed by $USDC. Coinbase described it the following day as live and built to connect rewards, payments and digital assets across global banking partners.

How the bank route is meant to work The user-facing sequence in Coinbase’s announcement has three steps. A customer starts with an eligible deposit at a participating bank, converts it into ONED USD, then transfers it at any time or spends it through Visa. Custody and trading sit in the same banking-app proposition. Coinbase did not say whether the bank, Gennius or Coinbase would face the customer for each function. It also did not say whether Visa purchases would settle from ONED USD directly or convert into another balance before authorization.

Gennius built ONED USD for a broader pool of balances than bank deposits. Its launch release names loyalty points, cashback balances, merchant credits and stored value as examples of value held in separate systems. The company says banks, fintech companies, wallets and buy-now-pay-later providers can use ONED USD to turn loyalty liabilities into programmable assets. A wallet can combine rewards, fiat balances and digital assets behind one interface. The original issuer remains responsible for backing tokenized points, miles, cash deposits and digital assets while Gennius provides the liquidity and programming layer described in the release.

That structure matters for depositors. The latest announcement says only eligible deposits can be converted. It does not define eligibility or say whether a conversion changes the customer’s legal claim from a bank deposit into a stablecoin claim. The June release says original issuers continue to back the underlying balances, while ONED USD itself is backed by $USDC. Participating banks will need to explain which entity owes redemption, how the two backing statements interact and what happens when a customer moves ONED USD out of the bank app.

The distinction also matters for round-the-clock transfers. Continuous token movement does not by itself establish continuous bank redemption. Coinbase promises transfers 24 hours a day, seven days a week, but its announcement gives no cut-off rules for moving between a deposit and ONED USD. Operators will need the supported network, confirmation policy, withdrawal controls and reconciliation process before they can assess settlement risk. None of those implementation details appears in the announcement.

What operators need to establish The product description joins two balance models. The October flow begins with an eligible bank deposit. The June release also covers rewards, cashback, merchant credits and stored value, with each original issuer continuing to back its own balance. A participating bank therefore needs to show customers which balance they hold before and after each conversion. It also needs to distinguish ONED USD custody from the bank account shown beside it.

The same separation applies to spending. Visa access tells customers where they can use the balance, while the announcement leaves the conversion path unstated. The operator must disclose whether ONED USD is redeemed before a card payment, who sets the conversion rate and which party handles a failed or reversed purchase. Coinbase’s reference to custody and trading also leaves open whether those functions share the same terms as deposit conversion.

For rewards operators, the launch release presents ONED USD as a common liquidity layer across points, fiat and digital assets. The original issuer backing statement means those source balances do not automatically become Coinbase liabilities. Programs considering the system need to identify the issuer for each balance, the route into ONED USD and the redemption route back to the original program.

The existing ONED network Gennius reported in June that it supported more than 83 banking and financial-institution partners, with deployments in Latin America and the CEMEA region. It also reported more than 500 rewards programs and more than 18 billion tokens issued through its platform during the preceding year. The same release’s company description says Gennius supports more than 70 banking and financial-institution partners. The document does not reconcile the two partner counts, so neither figure establishes how many institutions will offer ONED USD.

The scale of $USDC provides context for the backing asset. At research time, the DefiLlama stablecoin API returned circulating $USDC of about $73.0 billion across 157 chains. ONED USD is therefore a branded access layer over a much larger reserve asset, according to the companies’ description, rather than a separately disclosed reserve portfolio. The announcement does not provide ONED USD supply, reserves, attestations or a contract address.

Gennius framed the initial use case around a large pool of closed balances. Its launch release puts global issued loyalty and rewards value above $1 trillion. Group CEO Ruben Salazar Genovez said ONED USD was intended to convert fragmented balances into programmable digital value. Coinbase infrastructure head Alec Lovett said the work brings $USDC liquidity and Coinbase infrastructure into sectors where value had been fragmented. These are company descriptions of the opportunity, not measures of deposits committed to the Argentine rollout.

For users, the practical attraction is access through an existing bank relationship, with deposit conversion, continuous transfers and Visa spending in one interface. The main unanswered questions concern the named bank partners, rollout date, conversion and redemption fees, supported chain, custody terms and treatment of deposit protections after conversion. Coinbase and Gennius have not dated the Argentine launch or identified the first participating bank.

3 hours ago

According to on-chain analyst Ai Yi (@ai_9684xtpa), two addresses belonging to the same whale have built positions worth $14.89 million in ETH. Over the past 20 minutes, the two addresses have withdrawn a total of 5,965 ETH from Binance at an average price of $2,496.95 per ETH. Notably, the address that sourced the funds also transferred similar amounts of USDC to several other new addresses, suggesting it may continue to buy ETH in batches.

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Samsung is preparing to place dollar-linked stablecoin transfers inside the digital wallet already installed on eligible Galaxy phones in the United States. The company said the capability will open in the final week of October and will begin with USDC, letting qualifying users move funds without downloading a separate crypto application or handling private keys themselves.

Woncheol Chai, executive vice president and head of the digital wallet team in Samsung’s mobile experience business, framed the change as an effort to make cross-border sending feel as ordinary as the payment tools people already open on their phones.

At launch the feature is expected to reach devices that Samsung counts as compatible with its wallet app, a group the company put at 82 million units in the US.

Eligibility is limited to US residents 18 or older who hold a Samsung account, use a supported Galaxy handset running Android 13 or later, complete identity checks, and set up biometric authentication.

Users will be able to send USDC from the wallet to compatible external crypto wallets or exchange accounts on supported networks.

Samsung said it will not charge a fee on those outbound transfers, though recipient platforms may, and arrival times will depend on network conditions.

Transfers into sanctioned jurisdictions are blocked.

Separately, the same wallet will support payments to qualifying bank accounts in more than 60 countries, with the recipient receiving local currency.

Fees for those bank transfers will vary by destination and amount and will be shown, along with an estimated delivery window, before the sender confirms.

Not every bank or account type will qualify.

The rollout extends an existing relationship with Coinbase (NASDAQ: COIN).

Samsung Pay already appears as a funding option inside the Coinbase app, and certain Samsung Wallet users can access Coinbase One benefits.

For the new stablecoin service, custody and movement sit with regulated partners rather than with Samsung itself.

Bastion, which holds a New York trust charter and has received preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, supplies the cross-border payment framework.

Bastion has named Coinbase as sub-custodian, so USDC held through the feature is safeguarded in Coinbase Prime Vault.

Galaxy devices serve as the access point; transfers require biometric confirmation on a registered phone.

Samsung stated that it is not a bank, money transmitter, or digital-asset custodian and does not hold customer funds.

USDC is the first stablecoin the wallet will support, with infrastructure and network connectivity supplied by additional partners that include Solana and Sui.

Later features under consideration include paying merchants online or by tapping a compatible Galaxy device in a store, and expanding the service into other countries as local rules allow.

The Samsung announcement arrives while Coinbase is also expanding regulated derivatives and institutional infrastructure.

In early October the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight issued no-action relief that lets designated contract markets remove expiration dates from perpetual-style futures linked to broad-based security indices.

The relief responded to an October 1 request from Coinbase and is available to any qualifying exchange that gives position holders at least five days’ notice, preserves other material terms, and supplies risk disclosures.

It effectively allows contracts Coinbase Derivatives had listed with expiries stretching as far as 25 years to function as true perpetuals that rely on periodic funding payments rather than a maturity date.

The staff position expires on October 20 and followed the agency’s deemed approval of a related Kalshi contract.

Separate staff relief earlier in the year had already addressed similar conversion of certain digital commodity futures.

Coinbase’s chief business officer, Shan Aggarwal, has separately described large banks increasing their bitcoin exposure and pointed to custody of most bitcoin exchange-traded products as a foundation for wider advisor access if new Securities and Exchange Commission (SEC) rules open that channel.

On the revenue side, Coinbase’s subscriptions and services line reached about $555 million in the second quarter of 2026, or 48 percent of net revenue, up from a negligible share five years earlier.

Analysts note that stablecoin-related income, custody, and staking account for most of that segment, with data and index licensing a smaller but growing portion, while the company’s paid Coinbase One membership has passed one million subscribers. Together the developments place Coinbase infrastructure behind both a consumer wallet feature on tens of millions of phones and a broader shift toward non-transaction revenue and regulated perpetual products.

Ethereum rose 71% in Q3, with its profit supply ratio still not entering the warning zone.

Coinbase Institutional issued a report noting that ETH rallied 71% in the third quarter, yet on-chain metrics show no clear signs of overheating in its price action. Data indicates the share of ETH supply in profit has exited the accumulation range, but remains well below the warning threshold, signaling the current market has not reached the overextended levels flagged by historical metrics.

5 hours ago

Hacker who stole funds from Ledger transferred $1.07 million worth of ETH to Tornado Cash, with some of the funds flowing into Binance’s hot wallet.

According to Onchain Lens monitoring, the suspected hackers linked to the recent crypto heist involving Ledger reseller CryptoBillis — with the stolen amount reportedly nearly $90 million — have transferred 430.2 ETH, valued at around $1.07 million, to Tornado Cash via four wallets. After Tether froze some of the related funds, the suspects reportedly began converting USDT to USDD via SUN.io and USDD’s Peg Stability Module (PSM), while another portion of the funds flowed into Binance’s hot wallet. The suspected wallets flagged by Onchain Lens currently hold approximately $70.6 million in assets, including 11,406 ETH (worth ~$28.35 million), 213.371 BTC (~$17.65 million), 13.646 million USDD (~$13.65 million), and 10.909 million USDT (~$10.91 million). As on-chain funds continue to move, the above tracking data and suspect associations remain to be further verified.

5 hours ago

Former Mt.Gox CEO claims to have discovered Ledger hardware wallets implanted with spy modules, which can send mnemonic phrase information via LTE.

Former Mt. Gox CEO Mark Karpelès revealed in a post that a Ledger hardware wallet he received is suspected to have an implanted spy module. The device originated from Malaysia; its outer packaging’s heat-shrink film was intact, and anomalies were not immediately noticeable upon opening. The implant was hidden in the position of the screen’s original buffer pad. Karpelès further detailed that the module contains LTE communication components, an antenna, eSIM, and a microcontroller connected to Ledger’s SPI bus. It can analyze characters displayed on the device to users and exfiltrate relevant data after the mnemonic phrase is configured. Attackers may subsequently monitor the victim’s wallet address and transfer assets at an opportune moment. He urged users to inspect their devices in accordance with Ledger’s official guidance.

5 hours ago

MAGIC rose over 60% in 24 hours, pushing its market capitalization to $33 million.

According to HTX market data, MAGIC has surged over 60% in the past 24 hours, currently trading at $0.0992, with its market cap rising to $33 million.

5 hours ago

某用户6月抄底80枚BTC浮盈138万美元，一周前存入Ledger现已全部被盗

According to Lookonchain’s monitoring, a user purchased 80 BTC for approximately $65,000 around four months ago, with a total investment of about $5.2 million. The user once recorded an unrealized profit of roughly $1.38 million. However, the user bought a Ledger hardware wallet from third-party dealer CryptoBillis a week ago and transferred all 80 BTC into it, only to have the entire funds stolen now. This incident is linked to recent fund thefts involving multiple CryptoBillis clients, though whether the devices were tampered with, the specific attack method, and the attacker’s identity remain unconfirmed.

5 hours ago

Investor Loses 80 $BTC ($5.2M) After Buying Compromised Ledger From Reseller

Poor guy! 4 months ago, he bought 80 $BTC ($5.2M) at a low price of ~$65,000 and was sitting on a $1.38M profit. But a week ago, he bought a Ledger device from reseller CryptoBillis and deposited all 80 $BTC into it. Now he's lost everything.

5 hours ago

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.

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OKX has launched crypto-backed USDC loans in Europe, allowing customers to borrow up to 250,000 USDC, or 3.25 million USDC for VIP clients, without a fixed repayment term.

Summary

OKX says customers can borrow up to 80% of collateral value against more than 40 assets. The launch announcement lists variable hourly interest of 0.000229%, equivalent to about 2% annually. Borrowers can repay some or all of their debt whenever they choose, according to OKX. The service’s terms allow collateral liquidation and state that MiCA client asset protections do not apply. OKX said in its Oct. 9 announcement that European customers could access Flexible Loans through its app or website, using crypto already held on the platform as security for USDC borrowing.

With Bitcoin, Ether and Solana among the accepted assets, the company said each loan would be backed by collateral worth more than the amount borrowed. Its announced borrowing ceiling is 80% of the pledged assets’ value, alongside separate limits for regular customers and VIP clients.

OKX loans charge hourly interest without a fixed term Under the launch terms, OKX allows borrowers to choose when to repay rather than committing to a set maturity date. Customers can make partial repayments or settle the full balance, the exchange said.

At the time of the announcement, OKX listed USDC interest at 0.000229% per hour, describing that as about 2% a year. The company said borrowers could check the live rate before accepting a loan and continue monitoring it in the app while the debt remained outstanding.

For updated borrowing costs, the exchange directed customers to its rate page, rather than presenting the launch rate as a fixed charge for the life of a loan.

Explaining the product’s intended use, Erald Ghoos, CEO of OKX Europe, said long-term holders sometimes wanted access to cash while retaining their crypto.

“A lot of people in Europe hold crypto for the long term and don’t want to have to sell it to free up cash temporarily,” Ghoos said.

He described the repayment model as: “Borrow USDC when you need it, pay for the hours you use it, and repay when you’re done.”

For the borrowed funds, OKX listed trading, participation in X Drop Club, and use through Earn among the available options. Customers could also withdraw their USDC for everyday needs, according to the announcement.

Collateral remains locked and can be liquidated In its European loan service terms, updated Sep. 30, OKX identifies OKX Europe Limited as the operator and limits the service to European Economic Area residents.

The agreement says loan requests are matched with assets supplied by lenders on the platform, with approved proceeds transferred to the borrower’s OKX funding account. According to the terms, pledged collateral is frozen, preventing borrowers from trading or transferring it while it secures the debt.

For repayment, the agreement says accrued interest is paid before principal when a customer makes a partial payment. OKX also states that full repayment of principal and interest releases the corresponding collateral within one day, while partial repayment does not release it.

When a position reaches the applicable liquidation threshold, the terms authorize OKX to sell collateral to repay the debt. The agreement warns that rapid price changes or technical delays can leave customers without advance notification before automatic liquidation.

On regulation, OKX’s terms explicitly state that the loan service falls outside MiCA’s scope and that the framework’s client asset safeguarding protections do not apply to assets connected with it.

USDC trading and payments already feature in OKX products As crypto.news previously reported, Circle and OKX expanded USDC trading access on Sep. 2 across spot, margin and futures markets for eligible customers.

According to that report, the companies also introduced a USDC Margin Growth Program offering qualifying users a monthly 100 USDC reward funded by Circle. Eligibility required opting in, maintaining at least 20,000 USDC for 17 consecutive days, and exceeding 1,000 USDC in qualifying single-side trading volume.

The September report also described OKX’s July introduction of a one-way USDT-to-USDC conversion route for eligible customers across 30 EU and EEA countries. Under its European setup, the exchange restricted USDT trading while supporting USDC and Paxos-issued USDG.

In a separate Oct. 6 launch, OKX introduced OKX Money, an app supporting funding from more than 50 currencies and balances in USDG, USDC and USDT, according to the company.

OKX said that rollout covered selected markets in Latin America, Africa, South Asia and the Middle East, with local funding and card availability depending on country. The company described virtual and physical cards, transfers and rewards as features of the app.

For its European platform, Ghoos placed borrowing alongside payments and investing, describing OKX Card and Pay as tools “To pay, or get paid.” His launch comments also listed trading products covering crypto, traditional assets and commodities among the platform’s wealth services.

U.S. borrowers have separate crypto-backed loan options For American holders, earlier Coinbase products provide a separate example of borrowing USDC against crypto. An Oct. 7 report on Ledger’s Bitcoin-backed borrowing through Morpho described Coinbase’s earlier borrowing rollout to most U.S. states, excluding New York at launch.

According to the report, Coinbase converts pledged Bitcoin into cbBTC and sends the token to a Morpho smart contract on Base. Coinbase describes cbBTC as backed one-for-one by Bitcoin held in its custody.

Morpho separately announced on Sep. 22 that Coinbase had added fixed-rate loans through Morpho Midnight, allowing customers to agree on an interest rate and repayment date when borrowing USDC against Bitcoin. Morpho said Coinbase’s existing variable-rate service had more than $1.4 billion in active loans backed by approximately $3 billion in collateral.

For Ledger’s own Oct. 7 product, the wallet maker said eligible customers could pledge cbBTC or wBTC to borrow USDC or USDT, with access depending on country. Ledger said Morpho supplied the lending infrastructure, while Yield.xyz handled the borrowing process and position monitoring inside Ledger Wallet.

Ethereum rose 71% in Q3, with its profit supply ratio still not entering the warning zone.

Coinbase Institutional issued a report noting that ETH rallied 71% in the third quarter, yet on-chain metrics show no clear signs of overheating in its price action. Data indicates the share of ETH supply in profit has exited the accumulation range, but remains well below the warning threshold, signaling the current market has not reached the overextended levels flagged by historical metrics.

4 hours ago

Hacker who stole funds from Ledger transferred $1.07 million worth of ETH to Tornado Cash, with some of the funds flowing into Binance’s hot wallet.

According to Onchain Lens monitoring, the suspected hackers linked to the recent crypto heist involving Ledger reseller CryptoBillis — with the stolen amount reportedly nearly $90 million — have transferred 430.2 ETH, valued at around $1.07 million, to Tornado Cash via four wallets. After Tether froze some of the related funds, the suspects reportedly began converting USDT to USDD via SUN.io and USDD’s Peg Stability Module (PSM), while another portion of the funds flowed into Binance’s hot wallet. The suspected wallets flagged by Onchain Lens currently hold approximately $70.6 million in assets, including 11,406 ETH (worth ~$28.35 million), 213.371 BTC (~$17.65 million), 13.646 million USDD (~$13.65 million), and 10.909 million USDT (~$10.91 million). As on-chain funds continue to move, the above tracking data and suspect associations remain to be further verified.

4 hours ago

Former Mt.Gox CEO claims to have discovered Ledger hardware wallets implanted with spy modules, which can send mnemonic phrase information via LTE.

Former Mt. Gox CEO Mark Karpelès revealed in a post that a Ledger hardware wallet he received is suspected to have an implanted spy module. The device originated from Malaysia; its outer packaging’s heat-shrink film was intact, and anomalies were not immediately noticeable upon opening. The implant was hidden in the position of the screen’s original buffer pad. Karpelès further detailed that the module contains LTE communication components, an antenna, eSIM, and a microcontroller connected to Ledger’s SPI bus. It can analyze characters displayed on the device to users and exfiltrate relevant data after the mnemonic phrase is configured. Attackers may subsequently monitor the victim’s wallet address and transfer assets at an opportune moment. He urged users to inspect their devices in accordance with Ledger’s official guidance.

4 hours ago

MAGIC rose over 60% in 24 hours, pushing its market capitalization to $33 million.

According to HTX market data, MAGIC has surged over 60% in the past 24 hours, currently trading at $0.0992, with its market cap rising to $33 million.

4 hours ago

某用户6月抄底80枚BTC浮盈138万美元，一周前存入Ledger现已全部被盗

According to Lookonchain’s monitoring, a user purchased 80 BTC for approximately $65,000 around four months ago, with a total investment of about $5.2 million. The user once recorded an unrealized profit of roughly $1.38 million. However, the user bought a Ledger hardware wallet from third-party dealer CryptoBillis a week ago and transferred all 80 BTC into it, only to have the entire funds stolen now. This incident is linked to recent fund thefts involving multiple CryptoBillis clients, though whether the devices were tampered with, the specific attack method, and the attacker’s identity remain unconfirmed.

4 hours ago

Investor Loses 80 $BTC ($5.2M) After Buying Compromised Ledger From Reseller

Poor guy! 4 months ago, he bought 80 $BTC ($5.2M) at a low price of ~$65,000 and was sitting on a $1.38M profit. But a week ago, he bought a Ledger device from reseller CryptoBillis and deposited all 80 $BTC into it. Now he's lost everything.

4 hours ago

Ethereum rose 71% in Q3, with its profit supply ratio still not entering the warning zone.

Coinbase Institutional issued a report noting that ETH rallied 71% in the third quarter, yet on-chain metrics show no clear signs of overheating in its price action. Data indicates the share of ETH supply in profit has exited the accumulation range, but remains well below the warning threshold, signaling the current market has not reached the overextended levels flagged by historical metrics.

3 hours ago

Hacker who stole funds from Ledger transferred $1.07 million worth of ETH to Tornado Cash, with some of the funds flowing into Binance’s hot wallet.

According to Onchain Lens monitoring, the suspected hackers linked to the recent crypto heist involving Ledger reseller CryptoBillis — with the stolen amount reportedly nearly $90 million — have transferred 430.2 ETH, valued at around $1.07 million, to Tornado Cash via four wallets. After Tether froze some of the related funds, the suspects reportedly began converting USDT to USDD via SUN.io and USDD’s Peg Stability Module (PSM), while another portion of the funds flowed into Binance’s hot wallet. The suspected wallets flagged by Onchain Lens currently hold approximately $70.6 million in assets, including 11,406 ETH (worth ~$28.35 million), 213.371 BTC (~$17.65 million), 13.646 million USDD (~$13.65 million), and 10.909 million USDT (~$10.91 million). As on-chain funds continue to move, the above tracking data and suspect associations remain to be further verified.

3 hours ago

Former Mt.Gox CEO claims to have discovered Ledger hardware wallets implanted with spy modules, which can send mnemonic phrase information via LTE.

Former Mt. Gox CEO Mark Karpelès revealed in a post that a Ledger hardware wallet he received is suspected to have an implanted spy module. The device originated from Malaysia; its outer packaging’s heat-shrink film was intact, and anomalies were not immediately noticeable upon opening. The implant was hidden in the position of the screen’s original buffer pad. Karpelès further detailed that the module contains LTE communication components, an antenna, eSIM, and a microcontroller connected to Ledger’s SPI bus. It can analyze characters displayed on the device to users and exfiltrate relevant data after the mnemonic phrase is configured. Attackers may subsequently monitor the victim’s wallet address and transfer assets at an opportune moment. He urged users to inspect their devices in accordance with Ledger’s official guidance.

3 hours ago

MAGIC rose over 60% in 24 hours, pushing its market capitalization to $33 million.

According to HTX market data, MAGIC has surged over 60% in the past 24 hours, currently trading at $0.0992, with its market cap rising to $33 million.

3 hours ago

某用户6月抄底80枚BTC浮盈138万美元，一周前存入Ledger现已全部被盗

According to Lookonchain’s monitoring, a user purchased 80 BTC for approximately $65,000 around four months ago, with a total investment of about $5.2 million. The user once recorded an unrealized profit of roughly $1.38 million. However, the user bought a Ledger hardware wallet from third-party dealer CryptoBillis a week ago and transferred all 80 BTC into it, only to have the entire funds stolen now. This incident is linked to recent fund thefts involving multiple CryptoBillis clients, though whether the devices were tampered with, the specific attack method, and the attacker’s identity remain unconfirmed.

3 hours ago

Investor Loses 80 $BTC ($5.2M) After Buying Compromised Ledger From Reseller

Poor guy! 4 months ago, he bought 80 $BTC ($5.2M) at a low price of ~$65,000 and was sitting on a $1.38M profit. But a week ago, he bought a Ledger device from reseller CryptoBillis and deposited all 80 $BTC into it. Now he's lost everything.

3 hours ago

Samsung Wallet now supports USDC on the Sui blockchain for eligible Galaxy devices in the US, the Sui Foundation announced on October 8. The integration covers up to 82 million US Galaxy devices, with other markets to follow at an unspecified date.

Users can hold and send USDC directly within Samsung Wallet. USDC is the only asset supported at launch, and the SUI token is not available. Sui's gasless stablecoin transfers mean users pay no network fee and do not need to hold SUI to move dollars.

"Stablecoins have the potential to make moving money around the world faster and easier," said Woncheol Chai, head of the digital wallet team in Samsung Electronics' mobile business.

Adeniyi Abiodun, co-founder and chief product officer of Mysten Labs, the original contributor to Sui, said that "stablecoins have proven that dollars can move globally in seconds."

The announcement settles details Samsung left open in July, when it showed a Samsung Wallet mockup holding USDC at its Galaxy Unpacked event in London but gave no chain, issuer or launch date. Choosing Sui over Ethereum, Solana or Base hands a high-profile distribution win to a network that has been courting payments use cases. Sui says it has processed more than $1 trillion in stablecoin transfer volume since August 2025.

Several practical questions remain. The announcement does not say how users fund their USDC balance, whether through a bank, a card or an exchange integration, or whether the wallet is self-custodial. It also describes the feature in terms of sending money and remittances, with no mention of paying merchants through Samsung Pay, which is where a phone wallet's distribution would matter most. Circle is not named as a partner, although native USDC has been live on Sui since 2024.

The 82 million figure measures potential reach. How many Galaxy owners actually fund a USDC balance will depend largely on the on-ramp, which Samsung and Sui have yet to describe.