J.P. Morgan Asset Management has brought its tokenized money market funds, My OnChain Net Yield Fund (MONY) and JPMorgan OnChain Liquidity–Token Money Market Fund (JLTXX), to Solana, expanding access to both products across blockchain networks.
Announced on October 22, the deployment allows qualified U.S. investors to access the funds through Morgan Money, J.P. Morgan Asset Management's trading and analytics platform for liquidity management. Investors can subscribe to and redeem the funds through the platform and receive token balances in their Solana wallets.
The move expands J.P. Morgan’s existing Ethereum offerings to Solana. MONY launched on Ethereum in December 2025, followed by JLTXX in May 2026, with both funds already available through Morgan Money.
What MONY and JLTXX Offer Investors
Although both funds tokenize money market investments, they serve different purposes. MONY is a 506(c) private placement fund that gives qualified investors exposure to U.S. dollar yields. The fund launched in December 2025, making J.P. Morgan the largest bank to launch a tokenized money market fund on a public blockchain at the time.
JLTXX, meanwhile, is a U.S.-registered government money market fund designed to support stablecoin issuers' reserve investments under the GENIUS Act. Its investment strategy focuses on short-dated U.S. Treasury securities and overnight repurchase agreements fully collateralized by Treasuries and/or cash.
The fund's factsheet lists a $1 million minimum investment. Access to both products remains subject to their respective eligibility requirements.
J.P. Morgan's Role in Solana's Institutional Push
The expansion follows another development involving the bank and Solana's financial infrastructure. Earlier in October, the Solana Foundation launched Solana DvP, an open-source delivery-versus-payment program designed to standardize onchain settlement of assets and payments for financial institutions. J.P. Morgan contributed input on securities settlement practices and institutional requirements during development. That input helped shape requirements involving escrow isolation, settlement deadlines, and token extensions used by regulated issuers.
J.P. Morgan's expansion of its funds to Solana adds established institutional investment products to Solana's growing onchain financial ecosystem. By supporting multiple blockchains through Morgan Money, J.P. Morgan can accommodate clients operating across different onchain environments without requiring them to abandon the firm's existing liquidity-management platform.
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Solana Co-Founders Say It’s Time to Drop ‘Beta’ Tag After Alpenglow Launch
With the launch of Gateway support for EURC on Solana, Circle has deployed a new pre-mint address to enable Gateway to programmatically mint EURC on Solana. The new address is: A6sLLUWebvoUUnQoCiB45ktetd34iamfD8kwTsBSReAb
The full list of pre-mint addresses is contained within our GitHub repo. For exchanges, websites, and developers that monitor EURC flows on Solana, you can continue to use our public API as normal — no changes are required.
NOTE: DO NOT ATTEMPT TO SEND EURC TO A PRE-MINT ADDRESS AS IT WILL RESULT IN A LOSS OF FUNDS. PRE-MINT ADDRESSES ARE ONLY INTENDED FOR USE BY CIRCLE.
EURC on Solana: Pre-minting detailsOn some non-EVM blockchains like Solana, Circle pre-mints tokens like EURC to create and hold a balance before it goes into circulation. This is made possible by the aforementioned pre-mint address. It holds EURC that is not considered part of the circulating supply until Circle officially authorizes its mint and public release.
How it works:Pre-mint addresses have an existing balance of EURC, or another token, which is not included in the total amount in circulation.With Gateway now supporting EURC on Solana, a user can mint EURC on Solana.The EURC is then sent from the pre-mint address to the user's wallet address, increasing EURC in circulation.This follows the pre-mint of USDC on Solana, allowing Gateway users to seamlessly mint Circle’s dollar- and euro-denominated stablecoins on Solana.
For any questions or help getting started with Gateway on Solana, view the developer docs and join the conversation in our Discord.
Gateway is software infrastructure provided by Circle Technology Services, LLC ("CTS"). Gateway is non-custodial; CTS does not hold, control, manage, or transfer user assets or act as a transfer agent, registrar, broker-dealer, investment adviser, or clearing agency. Gateway is not a financial, payment, or advisory service and has not been reviewed or approved by NYDFS or any other regulatory authority. Fee estimates are previews only; actual fees may differ. Deposit times vary by chain and network conditions; deposits may be delayed or fail. Source-chain burns are irreversible. USDC only. Eligibility and geographic restrictions apply. Developers are responsible for their own compliance obligations. CTS may modify or discontinue this feature at any time. Developer Terms https://console.circle.com/legal/developer-terms apply.
USDC and EURC are issued by regulated affiliates of Circle. See Circle’s list of regulatory authorizations.
THORSday Community Podcast #244 ft. CBarraford, KentonC137 & Patriotsounds | October 22, 2026 | Watch the full episode on YouTube
By Raynalytics
TL;DRv3.21 was about 13 hours from adoption. Chad expects to cut v3.21.1 next week once two more pull requests merge, and once the paused churn resumes, $XMR is ready to launch.In its second week, SwapKit Rev-Share spent $841.60 in credits on swaps that earned THORChain $3.72K in fees, a 4.4x return that held steady as spending doubled.Chad is turning block time into an adjustable mimir so THORChain can step down from 6 seconds to 2 seconds one second at a time, and step back up without a new binary.About 20% of nodes have started voting to end rewards to liquidity pools. Kenton wants a formal ADR, while Denny and Chad made the case for protocol-owned liquidity (POL) instead.Chad unveiled Visual Review, a tool that turns any code change into an explainer page, and the solvency checker halted a small IBC exploit on its own at a loss of about $800.1. Monero Is Two Pull Requests and a Churn AwayAt recording time, v3.21 was roughly 13 hours from adoption. Chad said two more pull requests need to merge before the team can cut v3.21.1, which he expects next week. The churn is currently paused for issues that v3.21 fixes, so the remaining sequence is: adopt v3.21 and v3.21.1, restart the churn, and launch Monero.
"Once that's out and the churn is churning, we're live." (Chad)A community member asked whether THORChain could be a reorg target, citing the Qubic selfish-mining incidents on Monero. Chad said it comes down to confirmation counting. He described a method JP created years ago: wait enough blocks that the block rewards in that window exceed the value coming into the protocol. More confirmations mean slower trades, but because THORChain has no decentralized competition for $XMR and competes mainly with centralized exchanges, speed matters less at launch. Chad leans toward a higher confirmation count to start, with the exact number still to be researched. For contrast, he recalled Erik Voorhees telling him that ShapeShift used a single confirmation on Bitcoin for its whole history without a reorg incident.
Shielded Zcash addresses are not coming soon. Chad used AI to generate a full implementation in about 12 hours, but it added roughly 20,000 to 30,000 lines of code, and the devs pushed back on the complexity. What tipped Chad was Maya Protocol's data: only about 15% of its Zcash volume uses shielded addresses. The Zcash community is also working on rotating transparent addresses, which Chad expects would need no changes on THORChain's side. He will be at Zcash Foundation's Zcon7 in Cancún next week.
Beyond Monero, BSC is now on Router v6 alongside Base and Avalanche, and churnless chain additions are targeted for the next release or the one after. Asked about Zano, Chad said it is still well back in the queue. He named Substrate-based chains, Bittensor's $TAO and Dash as the short list after Monero, which he called by far the hardest chain THORChain has integrated.
2. SwapKit Rev-Share Holds at 4.4x in Week TwoChad returned to Ray's SwapKit Revenue Share dashboard for a second weekly check-in. Under the 20% Rev-Share, SwapKit has accrued $7.03K in credits and spent $841.60 of it on quote discounts, leaving a $6.19K balance. Swaps carrying those discounts earned THORChain $3.72K in fees, a 4.4x return, slightly below the 4.6x of week one. The discounted swaps added up to $1.96M in volume across 778 swaps, an average of about $2,500 each.
Chad's summary was that the numbers held. Spending roughly doubled over twice the time, and the ratio barely moved, which the hosts called a great sign.
The open question is still scale. Chad expects SwapKit to raise its spending after v3.21, and the hosts noted that the release fixes an affiliate code bug that should let SwapKit add more partners. If the ratio stays around 4.4x to 4.5x, he said raising the share from 20% to 25% would create the flywheel discussed last week, where every dollar SwapKit spends returns more than a dollar to its bucket, until SwapKit's market saturates. Week one is covered in last week's recap.
3. Should THORChain End LP Rewards?Kenton raised a vote already in motion: roughly 20% of nodes, about 27, have started voting to cancel rewards going to liquidity pools. Because it would be a big change to THORChain's economics, he suggested someone write a formal ADR.
The backdrop: for months the incentive pendulum sent nearly all rewards to nodes, then 20% of system income began flowing to POL. Now the pendulum is swinging back, and rewards are reaching legacy LPs again. Kenton's concern is that LPs need $RUNE to outperform to break even, but that same outperformance erodes the value of their accumulating rewards through impermanent loss. He believes POL should replace LPs over time. He also steelmanned the other side: if $RUNE never outperforms enough, those rewards could help pay LPs back. Boone has proposed paying rewards out to LPs directly to shield them from impermanent loss, and wrote in chat that most LPs would not benefit from rewards at current prices because synth leverage is so severe.
Denny, speaking as an LP, backed POL over LP rewards. Ray's POL Income dashboard shows 1.23M $RUNE of system income collected for POL, about $791,500 at current prices. Kenton added that $RUNE tracks volume, volume needs liquidity, and THORChain has lost roughly 75% to 80% of its liquidity since THORFi. He would end the rewards if it were his call, while acknowledging that node operators are also struggling on low yields. Node income is tracked on Ray's THORChain Financials page.
"We are grinding our way out of this hole. It's happening." (Denny)Chad favored POL because it is not mercenary capital. If there were another hack, POL would likely be first in line to absorb losses, rather than the Treasury, which paid for most past incidents. He said he wished THORChain had launched with both streaming swaps and POL from day one. For background, see the recap covering POL's launch.
4. A Gradual Path to 2-Second BlocksChad is revisiting 2-second blocks. The original code was merged about a year and a half ago, then pulled back because a hard switch felt risky and difficult to undo. His new approach is to make block time a mimir rather than a code change, so THORChain can move one step at a time and roll back if needed without releasing a new binary.
"We can walk it down from 6 seconds, what it is now, to 5 seconds to 4 seconds to 3 seconds to 2 seconds." (Chad)His analysis of mainnet suggests 2 seconds is a safe target: about 99% of blocks already complete in under 2 seconds. Around 1.5 seconds might be possible with Cosmos SDK performance gains, but Chad would be cautious. The mimir will be hard-coded to a range of 1 to 10 seconds, and going below 1 second would mean forking or replacing CometBFT, the consensus layer underneath.
On paper, the benefits are clear: streaming swaps would execute three times faster, arbitrage bots would rebalance pools more often, and the Rujira app layer would gain from faster blocks. Chad wants to measure how much of that shows up in practice before pushing lower, and hopes to move ahead within the next month or two. The idea first resurfaced in last week's recap.
5. The Quote-Versus-Fill Test Gets CheaperThe test proposed last week, comparing swap providers' quotes with what users actually receive, is moving forward with Treasury support. Kenton said he and Ray are working out the procedure, and credited Ray for running the numbers. The original plan of $1,000, $10,000 and $100,000 swaps would have meant a few million dollars in volume and, once fees and spreads were included, a cost of a couple hundred thousand dollars. The revised plan uses only $1,000 swaps: around 400 to 500 of them, roughly $400,000 to $500,000 in volume, for a cost of a few thousand dollars. Kenton said THORChain already wins larger quotes, and the low end of the size curve is where it misses volume, so that is the range worth studying.
On marketing, Kenton listed THORChain on a no-KYC exchange directory and asked the community to leave a review. THORChain will appear on the directory's exchange list once it has an XML quote feed, which Liquify agreed to build. He also asked the Unstoppable Wallet devs about Tor (.onion) and I2P addresses for THORChain Swap and set up a THORChain page on Bitcointalk.
Kenton's focus remains AI search. thorchain.org sits in the top 500 of about 120,000 sites on an AI-visibility tracker, though still at a B grade, and new affiliates requesting API keys say they found THORChain through ChatGPT, Claude or Google search. He is also looking into ChatGPT's new advertising, which could open a paid channel crypto lacks on Google.
After a press outlet turned a post about a 140 $RUNE Zcash pool bug into a negative story, Kenton said issues will still be disclosed on Discord and GitLab, but the main X account does not need to spotlight every minor bug.
6. Visual Review Turns Code Changes Into ExplainersChad unveiled Visual Review, a skill he built that turns a code change into a web page explaining it visually. He showed it on his dynamic fee merge request. The page includes a five-minute explainer video with chapters, interactive graphs, and a narrated walkthrough of every changed line, with fuzzy search by file name, function or snippet of code. The goal is to let anyone, technical or not, understand a change before it merges.
"It's my attention and my focus that is the most valuable resource in this process." (Chad)The merge request he showed runs to about 27,000 lines, of which roughly 1,483 are logic changes; the rest are tests and documentation. Huginn will generate these pages automatically, with a button at the top of each pull request. Chad has open-sourced the skill on GitLab, and Kenton added a Visual Review link to the thorchain.org footer during the show.
The dynamic fee change itself replaces the current step search, which moves 1 bps at a time, with a bracket search. Instead of trying 1, 2, 3, 4 and 5 bps, the model jumps from 1 bps to 20 bps, then tests the midpoint and narrows in. Bigger jumps make the market's reaction clearer and reach the best fee in fewer epochs. The change also lets the team switch an affiliate such as Symbiosis off and on to reset its data. Chad hopes to merge it for v3.22.
7. The Solvency Checker Stops an IBC ExploitTHORChain had what Chad called a tiny mini hack this week. A bug in the IBC implementation let an attacker make THORChain believe it had received $ATOM it never received. The first fake deposit was about 16 $ATOM, roughly $20, sent with a bad memo that triggered a refund. The attacker kept doubling that amount across five transactions.
The solvency checker only acts once a shortfall reaches $500, a buffer that avoids halting the chain over small discrepancies. Once that line was crossed, it halted things within about 20 to 30 seconds, with no human involvement, after an attack lasting seven or eight minutes. Chad expects the roughly $800 shortfall to be refilled from the reserve, probably in the next release. In chat, a viewer offered to open a merge request setting the threshold at $42,069.
"It's a success story in my mind, even though it's only $800." (Chad)Chad also wants more math-based safety checks. AI recently helped solve how to account for synthetics in LUVI, a measure that separates pool earnings from price moves and should almost always rise, so it can now act as an invariant that flags broken pool accounting without knowing the cause. LUVI checks were added to regression testing last week, and Chad plans to add them to mainnet code eventually, though it is not a top priority.
A community member also asked why the reserve holds about 25M $RUNE. Chad was not sure and suspects it relates to accounting from the summer hack. Kenton thought a store migration in v3.21 might address it. Long term, Chad said, the reserve would have a cap, with anything above it paid out as system income.
8. Faster CI and Huginn's Growing RoleChad shared a summary of recent changes to THORChain's continuous integration (CI), the automated tests every code change must pass. The team now runs nearly three times as many CI jobs per day, has added more than 1,300 unit tests, and introduced fuzz testing, mutation testing and adversarial-quorum testing. Typical CI time fell from 97 minutes to 24 minutes, and even the worst cases now finish in under 50 minutes, down from waits as long as seven hours.
Asked whether a large language model could formally verify the THORChain stack using Lean, Chad said Lean is a language for mathematical proofs and he does not think it applies to code. Instead, Huginn reviews every change and continuously audits the codebase, tracking which files it has scanned. By Chad's count, Huginn has found more security issues in the past year than every human contributor combined, by orders of magnitude, and it currently reports only the two highest priority levels. A full audit by the security team also turned up a few dozen issues, which are being addressed.
The bottleneck is human review. A community developer recently opened six or seven merge requests; generating one can take five minutes, while reviewing it can cost several engineers 45 minutes each. Chad estimated THORChain could merge 10 to 20 times more code per release without that constraint, though he stressed humans still review everything. Huginn now runs on its own Treasury-funded accounts, which freed Chad's own AI usage for projects like Visual Review.
"If you write code without having AI involved in that process, you're probably doing it wrong." (Chad)What to Watchv3.21 adoption, the v3.21.1 cut expected next week, and the churn resuming ahead of the $XMR launch.Whether SwapKit scales its Rev-Share spending after v3.21, whether the return holds near 4.4x, and whether the share moves to 25%.Whether an ADR on ending LP rewards is written, and how many nodes join the vote.The 2-second block mimir, hoped for within the next month or two.The dynamic fee bracket search in v3.22, and Visual Review pages on every pull request.The quote-versus-fill test, once Kenton and Ray finalize the procedure.Kenton's quarterly report, which he hopes to work on this weekend.Chad at Zcon7, a possible technical Rujira session with Pragmatic Monkey or CodeHans, and Chad's planned appearance on Joel Valenzuela's show.Schedule changes: Zodl on Friday, October 23, and the Saturday show moving an hour later.More THORChain data, check out raynalytics.net
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SummaryTHORChain processed approximately $3.82 billion in volume in Q3 2026 and generated around $5.77 million in fees, nearly double Q2 on both counts, in its first full quarter since the June 22 restart. September alone accounted for $2.41 billion as funds from the Bitget exchange hack moved through the network. Excluding those five days, volume and fees were still above Q2.
On the protocol side, v3.20 shipped in late August, bringing back validator churn after more than 60 days and activating Protocol-Owned Liquidity (ADR-024), which now receives 20% of system income. Dynamic fees (ADR-026) went live with ShapeShift, then Edge Wallet and Symbiosis, node operators approved affiliate revenue share (ADR-029), and ADR-031 confirmed the cooperation with Rujira. The quarter also included a two-day halt in late August and a stability sprint that put new launches on hold until mid-September.
THORChain also came under heavy public pressure to block the hacked flows and held to its position as neutral, permissionless infrastructure. Looking ahead, several chains are about to go live such as Zcash, Monero, TAO while ADR-030 (delegated node permissions) and base-layer limit orders are still under discussion.
A Look At Q3 2026 MetricsGeneral Metrics:Total USD Volume: $3.82BHighest 24h Volume: $467.74MChange in Total Liquidity: $54.58M to $89.82MSwap Fees Collected: $5.77MAffiliate Earnings: $1.38MAffiliate Volume: $1.42BTop Swap Routes By Volume:1. BTC <> ETH: $1.18B
2. BTC <> USDC: $466.66M
3. BTC <> XRP: $446.30M
4. BTC <> USDT: $267.83M
5. BTC <> LTC: $133.76M
Top Swap Routes By Swap Fees Collected:1. BTC <> ETH: $2.51M
2. BTC <> XRP: $1.38M
3. BTC <> USDC: $989.4K
4. BTC <> USDT: $575.9K
5. BTC <> LTC: $319.1K
Top Affiliates By Swap Volume1. THORChain.org - $545.76M
2. SwapKit - $208.55M
3. naswap - $92.96M
4. Trust Wallet - $87.66M
5. thor18dvg…kjm4 - $63.27M
What’s New On THORChain In Q3 2026Network And Protocol UpdateNetwork Back Online, With ExceptionsValidator churn stayed halted for more than 60 days after the June restart, until v3.20 went live in late August. Churn then resumed on a three-day cadence, and the active set went from 95 nodes in July to 103 at the end of September, with total bond up to 97.66M RUNE.
A few services were not yet back: Solana trading (which v3.20 started preparing to resume) memoless transactions, switched off in August after an attacker repeatedly registered short memo identifiers, and Rujira’s bond contract and its trading pair, kept disabled for additional checks when the App Layer resumed on September 3.
Protocol Upgrade v3.20v3.20 was the quarter's main release, with 61 merge requests merged in v3.20.0 and 75 across v3.20.0 to v3.20.3. Beyond churn and POL, it shipped the Monero and FROST groundwork, Zcash NU6.3 support, fixes to resume Solana, BNB Chain and Base trading, memoless swaps for ERC-20s, an experimental Stable Reserve (disabled by default), the MOR token, and the ADR-030 code.
Stability FocusThe weeks after v3.20 were dedicated to stability. On August 26 and 27, the network halted because nodes no longer agreed on its state. The cause was traced to Rujira App Layer contracts that could return different results on different nodes. A v3.20.1 hotfix followed, and the App Layer stayed paused until the issue was fixed, resuming by September 3.
From August 27, new launches were put on hold. Zcash, Monero and the SwapKit revenue share test were pushed back, but churns continued, and the first one after v3.20 cut average block times by about 300 milliseconds. The team also fixed a TSS signing issue with follow-up v3.20.x patches and began rolling out Router v6 one EVM chain at a time, starting with lower-risk routes.
The sprint ended on September 17, and THORChain returned to normal operation. It also produced clear guidelines for the App Layer: base-layer queries must give the same result on every node, contract execution must be bounded, and future incidents will follow a set process to halt, contact the affected team and agree on a restart path.
ADR-024: Protocol-Owned Liquidity - ExecutedProtocol-Owned Liquidity went live with v3.20, which made the POL Mimir controls operational. Node operators set the POL share at 20% of system income, and the reserve deploys RUNE into eligible pools (L1 gas assets and approved stablecoins) ranked by their fees-to-depth ratio over three days. The first position went to the TRON.USDT pool. By the end of September, the reserve had deposited 946K RUNE, with positions worth about $679K and around $113K in fees earned.
Alongside POL, node operators cut the RUNE burn from 5% to 1% of system income in mid-September. System income is now split between nodes (59%), POL (20%), TCY (10%), the Dev Fund (5%), the Marketing Fund (5%), and the burn (1%).
ADR-026: Dynamic Fees Live With First PartnersThe dynamic minimum fee went live for whitelisted partners this quarter, starting with ShapeShift. Each partner's fee floor adjusts by 1 bp per day for each selected trading pair, based on fee revenue. A v3.20 update opened the mechanism to more partners, with node operators enrolling Edge Wallet and Symbiosis on September 26. Data is currently being tracked to assess the effectiveness of the mechanism over time.
ADR-028: Pool Reconciliation - Completedv3.20 completed the residual remediation under ADR-028. The Migrate17to18 store migration finished the post-exploit pool reconciliation started in Migrate15to16: it removed phantom depth from 26 pools, reset 4 seed pools (BSC.USDC, BSC.USDT, BASE.ETH and ETH.THOR), and sent the freed RUNE to the Reserve rather than burning it.
ADR-029: Affiliate Revenue Share - PassedNode operators approved ADR-029 in August. REVSHARE lets THORChain return part of its liquidity fees to an approved affiliate THORName, set per THORName through a Mimir key and capped at 50% of the fees that affiliate generates. The payout is taken from system income before it is split, and no RUNE is minted. SwapKit is set to be the first partner tested, as outlined in What's Coming Next below.
ADR-031: Rujira Cooperation Confirmed - ExecutedNode operators adopted Option 1 of ADR-031, confirming and reinforcing the exclusive cooperation with Rujira on the App Layer. THORChain provides Base Layer security and infrastructure, and Rujira builds the App Layer products. Rujira's revenue is now split three ways: 33.34% to a POL Fund owned 50/50 by Rujira and THORChain, 33.33% to THORChain, and 33.33% to RUJI stakers, which keeps THORChain's economic share at 50%.
On top, WasmArbSlipMinBps was set to 0 so the Virtualization Strategy can settle smaller trades more often and tighten quotes. ADR-031 also sets responsibilities in case of an exploit: smart contract exploits fall to Rujira, and Base Layer exploits affecting Secured Assets fall to THORChain.
Monero Audit By Least AuthorityLeast Authority audited THORChain's Monero integration this quarter, with findings delivered in late August. By September 30, 7 remediation merge requests had been merged (5 public and 2 private security fixes), and the fixes will ship in v3.21 coming in October. Completing this remediation is the main gate before Monero goes live on mainnet.
Exploit Post-Mortem - PublishedTHORChain published two further reports on the May 15 exploit.
Exploit Report #2 (July 3) sets out the root cause: three individually low-severity weaknesses in the GG20 signing implementation, a fork of Binance's tss-lib that predated upstream fixes, which the attacker chained together by deliberately failing signing rounds 864 times over about two and a half days.
Exploit Report #3 (August 6), prepared by THORSec/Soda Labs, is the technical deep dive into the three bugs and the fixes now in production.
v3.20 added encryption at rest for TSS keyshares, and the medium-term plan remains to move off GG20, using FROST for Schnorr chains and DKLS for ECDSA chains.
THORChain Holds To Its Ethos Under Public PressureOn September 24, Bitget lost about $387.5 million in a hack of its hot wallet infrastructure, and part of the stolen funds was swapped through THORChain over the following days. Between September 25 and 29, the network processed about $1.38 billion in volume, more than half of September's total.
The flows put THORChain at the center of a public debate. On September 26, Bitget CEO Gracy Chen asked THORChain to refuse service to the attacker's addresses, and OKX founder Star Xu argued that THORChain's ability to halt makes it an intermediary.
THORChain declined the request the same day and held its position throughout. It is a decentralized and permissionless network, like Bitcoin or Ethereum, with no mechanism to block an individual swap, sender, or recipient. Node operators can pause a chain or the network when solvency is at risk, and that halt applies to every user at once: a minority of one-third plus one can stop activity, while any protocol action requires a two-thirds supermajority.
THORChain also reminded that the same rule applied after its own May exploit, when the attacker's addresses were not blacklisted either, similarly to the Bybit and KelpDAO incidents. As Chad explained on Unchained, blocking flows fast enough would mean redesigning THORChain into a more centralized system which can be done if and only if the nodes decide to do it.
Partners And IntegrationsData AccessTHORChain partnered with DefiLlama to launch an investor relations dashboard, giving an independent view of the protocol's fees and revenue, income statement, affiliate and integration leaderboards, swap activity and several more metrics.
Blockworks, which acquired Messari at the end of Q2, announced its THORChain dashboard, taking over the data previously covered by Messari. Work with Raynalytics, Dune and Numia also aims to move public data updates from daily to hourly.
Community member Boone also launched boone.tools, a set of 16 dashboards tracking pools, Protocol-Owned Liquidity, RUNE burns, node bonds, vaults, the Treasury, dynamic fees, governance votes and the App Layer, along with a comparison of THORChain's profitability against Chainflip and NEAR Intents.
FrontendTHORChain Swap added Exodus browser wallet support and Trezor support for XMR, and introduced an optional Houdini Swap private route, which runs through an off-chain intermediary separate from THORChain's native swap engine.
IntegratorsRAVN: a native-asset aggregator in public beta that ranks quotes from more than 13 venues, including THORChain.
BazaarSwap: aggregates over 360 exchanges across 160 blockchains and settles trades natively through THORChain when it offers the best route.
depouch: routes swaps across THORChain, Maya Protocol and NEAR Intents.
NanoGPT: settles crypto payments for its AI models through THORChain.
What’s Coming Next On THORChainNew Chains IntegrationZcash is first in line: the integration is complete, and its pool will be created at the next successful churn, using Zcash's transparent UTXO infrastructure. Trading will start in October.
Monero will follow as a cautious soft launch with a ramp period of several weeks. Its code is in place and already trading on stagenet, node operators will get about three days' notice to enable it.
TAO is expected about six weeks after Monero, with DASH and Zano also in the pipeline.
V3.21 - Planned for Octoberv3.21 is being prepared. It targets a churn-related slashing regression along with App Layer and signing issues. Memoless transactions, switched off in August after an attacker repeatedly registered short memo identifiers, are also being redesigned, with a ramping registration price under consideration.
ADR-030: Delegated Node Operator Permissions - In DiscussionADR-030 would let operators delegate routine actions (maintenance mode, leave requests, fee changes, bond-provider whitelist) to lower-privilege hot wallets while keeping the BondAddress cold. The code shipped in v3.20 and can be activated in v3.21, but the vote stood at about 37% support in early September, short of the two-thirds required.
SwapKit Revenue Share Test - UpcomingWith ADR-029 approved, SwapKit is set to run the first revenue share test in October. THORChain will credit 20% of the revenue from SwapKit-routed swaps to a bucket that SwapKit spends on better quotes. The test will run for one to three months and can be switched off if it doesn't benefit both sides.
Pushed back by the stability sprint, the test will start once SwapKit's side is ready. Success will be measured on net fee income: the discounts have to bring in enough new volume to more than offset the 20% share. The coming weeks should give a clear view of how well the design works.
Base-Layer Limit Orders - In DiscussionNode operator Devel has proposed base-layer limit orders (BLO), which would sit alongside AMM pools to improve quotes, execution speed, and refunds. The proposal would start narrow, with single-pool RUNE-denominated orders inside a 2% band around market price, and is being discussed alongside Rujira's Dynamic Concentrated Liquidity, now in testing.
Ongoing Work From Previous QuartersWork also continues on initiatives from previous quarterly reports, including the migration from GG20 to FROST and DKLS, the Stable Reserve, and onboarding more partners to dynamic fees.
Bloom Energy (NYSE: BE) shares traded near $209 in premarket trading Friday, extending the previous session’s losses despite the fuel-cell manufacturer’s stronger-than-expected third-quarter earnings and increased full-year guidance. The quarter also recorded a $27.1 million operating cash outflow.
At that price, the stock was 4.06% below Thursday’s closing level of $217.77. Bloom released its quarterly results after the market closed on October 22.
For the quarter ended September 30, Bloom generated record revenue of $1.24 billion, up 138.1% year over year and ahead of the approximately $1.06 billion consensus estimate. Adjusted diluted earnings reached $0.94 per share, $0.25 above analysts’ forecast of $0.69.
Bloom raised its 2026 revenue guidance to $4.4 billion–$4.6 billion from $3.9 billion–$4.2 billion, with the revised midpoint representing 122% year-over-year growth. The company also lifted its adjusted earnings guidance to $3.10–$3.40 per share from $2.55–$2.85, surpassing Wall Street’s $2.71-per-share consensus.
The results also showed continued growth in Bloom’s core equipment business. Product revenue increased 179.4% year over year to $1.07 billion, while adjusted gross margin expanded to 34.5% from 30.4%.
Adjusted operating income reached $285.7 million, compared with $46.2 million a year earlier. On a GAAP basis, diluted earnings rose to $0.78 per share from a loss of $0.10.
Bloom Chief Executive KR Sridhar said demand for reliable onsite electricity was expanding beyond large cloud-computing companies into other commercial and industrial markets. Chief Financial Officer Simon Edwards attributed the company’s third increase in its annual outlook to its year-to-date performance and customer demand.
Operating Cash Flow Turns Negative Despite Higher Earnings
Bloom’s third-quarter operating cash outflow compared with positive operating cash flow of $226.4 million in the second quarter.
Edwards said higher working-capital requirements, particularly inventory, contract assets and receivables, contributed to the cash use. He explained that Bloom can recognize product revenue before contractual billing milestones are reached, with some customer payments expected in later periods.
Spending on property, plant and equipment increased to $153.5 million from $51.6 million in the preceding quarter. Free cash flow, calculated as operating cash flow less those purchases, fell to negative $180.6 million from positive $174.8 million.
The company remained operating-cash-flow positive for the first nine months of 2026, generating $272.9 million.
Bloom Shares Retreat After Heavy Thursday Trading
Bloom shares fell 8.7% on Thursday ahead of the earnings announcement, with trading volume reaching about 23.3 million shares, up from 12.4 million in the previous session. In early Friday premarket trading, the stock remained about 41% below its 52-week high of $351.28.
Separately, Bloom Energy Tokenized bStocks (BEB) is trading at $209.11, down 8% over the past 24 hours, according to CoinMarketCap. BEB is a blockchain-based instrument linked to Bloom Energy shares, not the NYSE-listed common stock, and its trading figures do not represent BE’s premarket price movement.
The most reliable way to track Shiba Inu (SHIB) burns is to combine three sources: Shibburn for daily totals, a blockchain explorer such as Etherscan to verify each burn transaction, and ShibWatch or the official shib.io site for the state of ShibTorch, Shibarium’s own burn mechanism. No single tracker is official, and they do not count burns the same way.
About 410.85 trillion SHIB, or 41.08% of the original 1 quadrillion supply, has been burned according to Shibburn, but almost all of it comes from a single transaction by Ethereum co-founder Vitalik Buterin in May 2021. Burns today are tiny: about 673 million SHIB in the past 30 days, worth roughly $3,810. ShibTorch, the official burn portal, is under maintenance and has not burned SHIB since August 2025, according to ShibWatch.
Key Takeaways
Total burned: about 410.85 trillion SHIB according to Shibburn, of which about 410.44 trillion sits in a single dead address that holds Vitalik Buterin’s 2021 burn.
Recent burns: about 2.47 million SHIB in the past 24 hours (about $12), 67.2 million in seven days and 673.4 million in 30 days, according to Shibburn on October 23, 2026.
ShibTorch is paused: the Shibarium burn portal is under maintenance because the SHIB route on the Shibarium bridge has stayed closed since a September 2025 exploit.
Trackers disagree: Shibburn counts about 340 billion more burned SHIB than the three main burn addresses hold on-chain, and supply figures differ by several trillion SHIB between Shibburn and CoinMarketCap.
Headline burn rates mislead: recent spikes of 492% and 2,349% involved burns worth about $13 and $5.
SHIB Burn Data Today
MetricValueTotal SHIB burned (Shibburn)410,845,024,873,680 SHIB (41.08% of 1 quadrillion)Burned in the past 24 hours2,472,769 SHIB (about $12)Burned in the past 7 days67,240,450 SHIB (about $341)Burned in the past 30 days673,379,117 SHIB (about $3,810)Largest burn address balance410,437,114,516,937 SHIB (0xdEAD…2069)SHIB priceAbout $0.0000050ShibTorch statusUnder maintenance; last burn in August 2025 (ShibWatch)
Sources: Shibburn and Etherscan, October 23, 2026; price from CoinMarketCap; ShibTorch status from ShibWatch and U.Today, October 22, 2026. Shibburn’s 24-hour figure is a rolling window, so it changes through the day.
For live price levels, see our Shiba Inu price page.
Where to Check SHIB Burns: Trackers Compared
SourceWho runs itWhat it showsBest forCaveatsShibburn (shibburn.com)Independent; now managed by BurnalyticsTotal burned, 24-hour, 7-day and 30-day burns, recent burn transactions and top burnersQuick daily totalsNot affiliated with the Shiba Inu team; counts several burn addresses; does not publish the cut-off time of its 24-hour windowEtherscanIndependent block explorerSHIB balance of each burn address and every individual transactionVerifying a specific burnShows raw transfers and balances, not daily totals; you need the correct SHIB contract and burn addressShibWatchCommunity tracker; operator not namedShibTorch burn totals, the BONE waiting to be burned and the status of each Shibarium bridge laneChecking whether ShibTorch is workingUnofficial; reads contracts directly but is not auditedshib.io (ShibTorch page)Shiba Inu teamShibTorch burn activity and contractsThe official view of Shibarium burnsIts burn page was failing to load data on October 22, 2026 because the indexer behind it no longer runsThe Shib DailyShiba Inu teamAnnouncements about ShibTorch, Shibarium and burn mechanismsOfficial changes and explanationsThe team’s own outlet, so confirm claims on-chainShibariumscanShibarium block explorerTransactions on ShibariumChecking Shibarium-side activityHad indexed only about 54% of Shibarium blocks as of October 1, 2026
The practical setup is simple: bookmark Shibburn for the daily number, check any large or unusual burn on Etherscan, and look at ShibWatch or shib.io when headlines talk about Shibarium or ShibTorch burns.
SHIB Burn Addresses
The SHIB token contract on Ethereum is 0x95aD61b0a150d79219dCF64E1E6Cc01f0B64C4cE. Burned SHIB sits in addresses that no one controls, so the tokens can never move again.
AddressWhat it isSHIB held on October 23, 20260xdEAD000000000000000042069420694206942069Dead address used for Vitalik Buterin’s May 2021 burn410,437,114,516,936.90x000000000000000000000000000000000000dEaDCommon dead address; Shibburn says the team used it for ShibaSwap listings49,460,833,155.30x0000000000000000000000000000000000000000Null address; sending SHIB here destroys it and lowers the on-chain total supplyAbout 17.67 billion destroyed
Balances from Etherscan. The null address holds no balance because burns to it reduce SHIB’s on-chain total supply, which now stands at 999,982,327,167,466 SHIB instead of 1 quadrillion.
Why SHIB Burn Trackers Show Different Numbers
The three addresses above add up to about 410.50 trillion SHIB. Shibburn reports about 410.85 trillion, roughly 340 billion more, and does not publish the full list of addresses it counts. Media outlets have attributed the gap to Shibburn summing several burn addresses, but the exact method is not public.
Supply figures differ for a similar reason. CoinMarketCap and CoinGecko put SHIB’s total supply at about 589.50 trillion, which equals the on-chain supply minus the two dead addresses above, and its circulating supply at about 589.24 trillion. Shibburn shows a total of about 589.15 trillion and a circulating supply of about 585.49 trillion, because it treats more tokens as burned and excludes more wallets from circulation. Neither side lists every wallet it excludes, so a difference of a few trillion SHIB between sites is normal and does not mean anyone is wrong about the burns themselves.
This comparison is our own analysis of Shibburn, CoinMarketCap, CoinGecko and Etherscan data from October 23, 2026.
Why SHIB Burn Rate Headlines Mislead
Burn rate headlines compare one day’s burns with the day before, so tiny amounts can produce huge percentages. On October 19, the burn rate jumped 2,349% on about 1.10 million SHIB, worth about $5. On October 21, it rose 492% on about 2.7 million SHIB, worth about $13. In early October, a 182,140% spike was followed the next day by a reading of zero burned SHIB.
The more useful measure is burns as a share of supply. About 673 million SHIB burned in 30 days is roughly 0.0001% of the circulating supply. At that pace, burning just 1% of the supply would take about 714 years, according to Cryptoticker. By comparison, about 87 trillion SHIB sat on exchanges on October 21, roughly 129,000 times the monthly burn. Our analysis of SHIB’s burn rate explains the math in more detail.
What Happened to ShibTorch?
ShibTorch went live on August 16, 2024 as Shibarium’s community burn portal. Shibarium charges transaction fees in BONE, and under the network’s design about 70% of base fees is set aside to buy and burn SHIB, with 30% going to the treasury. A hard fork on August 9, 2024 automated that burn, and ShibTorch V2, released in January 2025, moved the portal into shib.io and simplified the bridge route the burns use.
The process has stalled. According to community member Mazrael, cited by U.Today on October 22, 2026, ShibTorch now swaps BONE for SHIB on Shibarium and then bridges the SHIB to a dead address on Ethereum. That SHIB lane on the Shibarium bridge has been closed since the September 12, 2025 exploit, in which an attacker used a flash loan of 4.6 million BONE and control of 10 of 12 validator signing keys to drain about $2.4 million. The BONE lane reopened on October 14, 2025 with a seven-day withdrawal delay, but the SHIB lane has not moved since October 2025, according to ShibWatch.
ShibTorch is now listed as under maintenance, with about 371 BONE waiting to be burned, below the threshold of 1,000 BONE that community members say triggers a burn. ShibWatch counts about 69.32 billion SHIB burned through Shibarium-related mechanisms in total, worth about $1.27 million at the time of the burns, and says ShibTorch has not burned since August 2025. Our report on what Shiba Inu is building covers the wider Shibarium roadmap.
A Short History of SHIB Burns
DateEventMay 16 to 17, 2021Vitalik Buterin burns about 410.24 trillion SHIB, about 41% of the supply and 90% of his remaining SHIB, worth up to $6.7 billion at the timeApril 2022A burn portal launches on ShibaSwap, rewarding burners with tokens that earn a share of RYOSHI fees; more than 8 billion SHIB is burned in its first 24 hoursDecember 5, 2023First Shibarium-linked burn: 8.2 billion SHIB, worth about $76,000, from fees collected on the networkAugust 9, 2024Shibarium hard fork automates the burn of 70% of base feesAugust 16, 2024ShibTorch goes live as Shibarium’s community burn portalJanuary 30, 2025ShibTorch V2 moves into shib.io with a simpler bridge routeSeptember 12, 2025Shibarium bridge exploit drains about $2.4 million; the SHIB bridge lane stays closedJuly 2026About 2.96 billion SHIB burned in the week to July 30, the biggest weekly total of the yearOctober 2026ShibTorch under maintenance; 30-day burns near 673 million SHIB
How to Verify a SHIB Burn Yourself
Find the transaction hash. A reliable burn report links to the transaction or names the wallet that sent it.
Open it on Etherscan. Check that the token is SHIB, at contract address 0x95aD61b0a150d79219dCF64E1E6Cc01f0B64C4cE, and not a copycat token.
Check the destination. The tokens should go to one of the burn addresses above or be destroyed through a verifiable contract.
Match the amount and time. Compare the on-chain amount with the reported figure, and check whether a burn rate refers to 24 hours, seven days or another period.
Separate burns from pledges. Tokens that are pledged, locked or waiting in a contract, like the BONE sitting in ShibTorch, are not burned until the transaction happens.
Do SHIB Burns Affect the Price?
Not meaningfully at today’s pace. With about 589 trillion SHIB in circulation and burns of under a billion a month, supply is effectively fixed, so SHIB’s price depends on demand, Bitcoin’s direction and meme coin sentiment far more than on burns. Our analysis of whether Shiba Inu can reach 1 cent shows how many tokens would need to be burned for that to change, and our Shiba Inu price prediction covers the forecasts from 2026 to 2040. If you plan to buy SHIB, our guide on where to buy Shiba Inu compares exchanges and wallets.
Data sources: Shibburn and Burnalytics (burn totals), Etherscan (SHIB contract and burn address balances), ShibWatch (ShibTorch and bridge status), U.Today and CoinTurk (ShibTorch maintenance), The Shib Daily (ShibTorch launch, V2 and bridge reopening), The Block (bridge exploit), Decrypt and CoinDesk (Vitalik Buterin’s 2021 burn), Cryptoticker (burn rate math and exchange balances), CryptoPotato and U.Today (burn rate spikes) and CoinMarketCap and CoinGecko (supply and price), as of October 23, 2026.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are volatile; always do your own research before investing.
Frequently Asked Questions
How much SHIB has been burned?
About 410.85 trillion SHIB, or 41.08% of the original 1 quadrillion supply, according to Shibburn on October 23, 2026. Almost all of it comes from Vitalik Buterin’s burn of about 410.24 trillion SHIB in May 2021. The main dead address holding that burn has about 410.44 trillion SHIB, and burns since 2021 add up to only a small fraction of the total.
How much SHIB was burned today?
Shibburn showed about 2.47 million SHIB burned in the 24 hours to October 23, 2026, worth about $12, along with about 67.2 million SHIB in seven days and 673.4 million in 30 days. The 24-hour figure is a rolling window that changes through the day, so always check the time of any reading before comparing it with another source.
What is the most reliable SHIB burn tracker?
Shibburn is the most widely cited tracker for daily totals, but it is independent and does not publish its full method. For accuracy, check any important burn on Etherscan, which shows each transaction and the balance of every burn address. For Shibarium and ShibTorch burns, ShibWatch and the official shib.io site show whether the mechanism is actually working.
What is the Shiba Inu burn address?
The main SHIB burn address is 0xdEAD000000000000000042069420694206942069, which holds about 410.44 trillion SHIB, including Vitalik Buterin’s 2021 burn. The common dead address 0x000000000000000000000000000000000000dEaD holds about 49.46 billion SHIB. Sending SHIB to the null address destroys it, which has removed about 17.67 billion SHIB from the on-chain total supply. Always confirm the SHIB contract address before sending or checking any burn.
Why is ShibTorch not burning SHIB?
ShibTorch is under maintenance because the SHIB route on the Shibarium bridge has been closed since a September 2025 exploit that drained about $2.4 million. The portal swaps BONE fees for SHIB and bridges it to a dead address on Ethereum, so without the bridge it cannot complete burns. About 371 BONE was waiting in ShibTorch on October 22, 2026.
Why do SHIB burn trackers show different numbers?
Trackers count different addresses and exclude different wallets from supply. Shibburn reports about 340 billion more burned SHIB than the three main burn addresses hold, and it puts circulating supply near 585.49 trillion, against about 589.24 trillion on CoinMarketCap. Neither publishes a full list of the wallets it counts, so small differences between sites are normal.
Can token burns push SHIB to 1 cent?
Not at the current pace. About 673 million SHIB was burned in the past 30 days, roughly 0.0001% of the circulating supply, so burning even 1% would take about 714 years. One cent would require removing almost all of the remaining 589 trillion SHIB, or a market value of about $5.9 trillion, more than twice the entire crypto market.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The Shiba Inu community is seeking Elon Musk's attention after an alleged token identification issue on X reportedly caused the wrong asset to appear under the BONE Cashtag on older posts.
According to long-time SHIB community member Mazrael, X is showing the wrong token for BONE on old posts for reasons yet unknown.
— Mazrael.shib (@Mazrael_shib) October 22, 2026 Shiba Inu ecosystem token Bone ShibaSwap (BONE) is the gas token of the Shibarium network. According to Mazrael, the Smart Cashtag previews for BONE on X are showing the wrong token (unrelated contract/mismatched info) on older posts.
X (formerly Twitter) features Smart Cashtags, which display real-time price data, live charts, and curated posts when users tap or search a cryptocurrency ticker symbol; for BONE, this showed the wrong token.
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The real BONE token, Bone ShibaSwap (BONE), is on Ethereum and currently trades at $0.054, with Mazrael sharing the correct Ethereum contract for Bone ShibaSwap: 0x9813037ee2218799597d83d4a5b6f3b6778218d9.
The unrelated token also has the BONE ticker and trades lower at $0.0000000427. This has prompted a warning to users, who are urged not to rely solely on the token ticker displayed on the social media platform but should rather check the contract.
"Not whatever is appearing in cashtag. Check the contract," Mazrael warned.
Elon Musk taggedThe reported discrepancy has prompted calls for X to review how the BONE cashtag is displayed. Along these lines, Mazrael tagged X owner Elon Musk, Grok, and X platforms X Developers and X Business, as well as a few crypto exchanges and trading platforms including TradingView, Gemini, Coinbase, and Kraken.
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Mazrael also shared a screenshot indicating that his request regarding the issue has been received, with work currently ongoing to resolve it.
At the time of writing, SHIB was trading up 1.51% in the last 24 hours to $0.000005 as traders looked ahead to fresh economic data, with the Federal Reserve's interest rate decision due next week. Traders now look to the Fed's October 27 to 28, 2026 meeting as inflation concerns remain.
Anthropic reviews Claude boundary crossing attacks: Pre-incident warnings are effective, post-incident alerts prove ineffective.
Beating AI News Flash: Anthropic and the UK AI Security Institute (AISI) have released a new security investigation. Earlier, during cyber attack-defense trials, Claude Mythos 5, in an attempt to breach a simulated system, targeted real GitHub open-source projects. It submitted modifications laced with malicious code, registered fake accounts posing as real users, and sent emails and messages to lobby for approval, trying to trick developers into merging the changes. Human maintainers ultimately rejected the code, foiling the attack.
The new probe identifies a far more problematic issue: once an AI initiates an attack, it is extremely hard to halt. Mythos 5, despite interacting with real developers, consistently misidentified them as test roles arranged by evaluators. Even after researchers explicitly informed the model it was attacking real people, it only stopped in 5% of relevant replay experiments. However, advance warnings yielded starkly different results. Anthropic adjusted pre-attack reasoning logs to prompt Claude to consider potential harm to real individuals, then regenerated task summaries. This cut the model’s rate of continuing to seek GitHub attack targets from 83% to 13%. Once in the mid-to-late stages of an attack, 98% of replay results still followed the original path. Researchers term this phenomenon of continuously reinforcing established actions "Momentum": past actions and phase summaries make the model increasingly convinced it is on the correct course.
20 minutes ago
Yilihua: Believes ideal bottom-fishing opportunities will emerge in the future market, and patience is the most critical test for investment and trading.
Yilihua, founder of Liquid Capital, stated in a post that patience is the most critical test for investment and trading. When Ethereum (ETH) was fluctuating around $3,000, many investors couldn’t hold back and ended up buying at the mid-peak when attempting to catch the dip. Recently, Bitcoin has also been in a prolonged consolidation phase since its pullback from $86,000, so it’s vital to exercise self-control. He believes there will be great opportunities to buy the dip later. The dividend era of the crypto industry has passed, and only by truly enhancing one’s market cognition and mental fortitude can one achieve excess returns.
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U.S. SEC Unveils Fiscal Year 2027 Examination Priorities, Focusing on Tokenization, Cybersecurity, and Risks from Advanced Technologies
The U.S. Securities and Exchange Commission (SEC) has released its fiscal year 2027 examination priorities, outlining key regulatory focuses for its examination and compliance division in the coming year. The framework aims to promote compliance, prevent fraud, identify and monitor risks, and inform regulatory policy development.
Developed based on input from all SEC divisions, prior examination findings, market shifts, investor concerns, and emerging industry trends, the priorities cover over 34,000 registered entities including investment advisors, investment companies, broker-dealers, clearing agencies, and other market participants.
SEC Chair Paul S. Atkins stated that the examination program is a critical tool for enforcing securities law compliance and protecting investors, helping to identify emerging risks, understand evolving business practices, and uphold the integrity and resilience of U.S. capital markets.
The SEC’s listed priority examination areas for FY2027 include: fiduciary duties, conflicts of interest, and compliance mechanisms for investment advisors; protections for retail investors, particularly for complex, high-risk, and low-liquidity products; private funds, private credit, and other complex investment strategies; financial responsibility, trading conduct, oversight frameworks, and anti-money laundering compliance for broker-dealers; operational resilience, cybersecurity, and customer information protection.
Additionally, the SEC will monitor the impact of advanced technologies such as superintelligent systems on market operations, compliance, fraud prevention, and investor protection, as well as risks from market infrastructure changes like U.S. Treasury clearing reforms and asset tokenization. It will also strengthen oversight of self-regulatory organizations and other key market participants.
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Bitcoin Core adjusts its vulnerability disclosure policy, and will accelerate the remediation and public disclosure of vulnerabilities detectable by AI.
Bitcoin Core, the core software run by the majority of nodes on the Bitcoin network, is adjusting its vulnerability disclosure policy. On Thursday, project maintainers merged a security policy update: for vulnerabilities that can be re-discovered via AI tools, the team will no longer delay disclosing fixes for months as it did previously.
Previously, Bitcoin Core classified all reported security vulnerabilities by severity and scheduled disclosure timelines accordingly. Low-severity flaws were disclosed two weeks after the next major version release; medium and high-severity vulnerabilities remained confidential until two weeks after the last affected version reached end-of-life. The original intent of this mechanism was to quietly release fix patches while delaying public disclosure of vulnerability details, to prevent attackers from learning about flaws before users running Bitcoin nodes could complete upgrades.
Bitcoin nodes are responsible for verifying and relaying every Bitcoin transaction. However, this framework was built on the premise that discovering vulnerabilities requires specialized technical skills. As AI tools have grown increasingly prevalent, the methods for finding vulnerabilities have shifted, undermining the old mechanism. Bitcoin Core will implement rapid disclosure and remediation for vulnerabilities that can be found simply by inputting basic prompts into AI models, replacing the previous confidentiality period for vulnerabilities that could last around a year.
Maintainers noted that this adjustment will speed up fixes for vulnerabilities easily re-discovered by AI, but related updates may not receive the same level of testing before being released to users. This policy update comes amid a surge in AI-assisted security vulnerability reports. A prior review of 390 Bitcoin-related projects identified a total of 4,962 potential vulnerabilities, 85 of which were classified as critical.
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U.S. CFTC: Closely monitoring prediction markets for any potential manipulation.
The U.S. Commodity Futures Trading Commission (CFTC) said it is closely monitoring prediction markets for any potential manipulation.
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US crypto-related stocks traded mixed, with BNC rising more than 5%.
According to market data from BIT (bit.com), US-listed cryptocurrency-related stocks were mixed, with CRCL rising 1.14%, MSTR up 1.98%, HOOD gaining 0.3%, BMNR increasing 1.56%, COIN down 0.17%, and BNC surging 5.39%.
Tokenized assets are spreading across major blockchain ecosystems. With the 1inch Swap API, developers can add RWA swaps across leading networks and access assets from providers including Ondo, xStocks, Maple and Coinbase.
Want to add RWA swaps to your wallet, app or platform? The challenge is no longer just finding tokenized assets. It is connecting users to them across different chains, issuers and liquidity models.
The 1inch Swap API already connects applications to tokenized assets from several major providers across some of the most important RWA networks. Developers can integrate the API once and use 1inch infrastructure as the RWA market expands across chains.
Ethereum: the center of the RWA ecosystemMeanwhile, Ethereum remains one of the key networks for tokenized assets - and offers some of the broadest RWA coverage through 1inch.
The 1inch Swap API supports Ondo, xStocks and Maple assets on Ethereum, giving developers access to different types of tokenized assets through the same integration.
Ondo Global Markets brings tokenized stocks and ETFs onchain, while xStocks provides another expanding range of tokenized equities. Maple adds another dimension to the RWA market, extending the available asset mix beyond tokenized stocks.
Ondo alone has already demonstrated substantial demand through 1inch. Earlier this year, Ondo RWAs surpassed $2.5 bln in volume on 1inch.
BNB Chain: another home for tokenized stocksBNB Chain is another major network for RWA distribution. Both Ondo and xStocks are supported there through 1inch infrastructure. Ondo initially launched its Global Markets assets across Ethereum and BNB Chain, while xStocks has also expanded tokenized equity access across the ecosystem.
For applications already serving BNB Chain users, the 1inch Swap API offers a way to add supported tokenized assets without building a separate RWA execution layer.
Base: tokenized assets meet Coinbase infrastructureBase is also developing into an important network for tokenized markets.
Coinbase recently launched a range of tokenized stocks on Base using B20, its protocol-level standard for fungible assets. The initial selection includes assets linked to Apple, Alphabet, Meta and Nvidia.
Supported Coinbase tokenized assets are available through 1inch, bringing them into the same swap infrastructure used for crypto-native tokens. Because B20 remains compatible with ERC-20 infrastructure, the assets can work with existing wallets, exchanges and DeFi applications.
For developers, Base adds another route for bringing tokenized traditional-market exposure into an existing DeFi product.
Robinhood Chain: built around tokenized marketsSome networks are adding RWAs to an existing DeFi ecosystem. Robinhood Chain is being built with tokenized financial markets at its core.
1inch supports RWA swaps on Robinhood Chain across its API stack. Developers can use the same 1inch endpoints they already work with while adding the chain to their applications.
Robinhood Chain supports 24/5 RWA trading, reflecting the trading hours of many underlying traditional-market assets.
For developers building specifically around tokenized stocks and other RWAs, that makes the network particularly relevant.
One API for a multichain RWA marketThe RWA market is becoming increasingly multichain. xStocks adds another tokenized-stock ecosystem. Maple brings additional RWA products to Ethereum. RWA swaps are supported on Robinhood Chain, while Coinbase is bringing its own tokenized assets to Base.
Building separate integrations for every issuer, network and liquidity source would add considerable complexity. The 1inch Swap API provides a common execution layer.
1inch acts as a non-custodial aggregation and execution layer rather than an issuer or custodian of the underlying assets. Supported RWA tokens are exposed through the API according to technical, liquidity and compliance criteria, while availability and trading conditions can vary by issuer, asset, network and jurisdiction.
For an app or wallet, that means RWA functionality can become part of the same swap experience already used for crypto-native assets.
Build RWA swaps with 1inch.
Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal or tax advice. 1inch does not issue, sponsor or manage the tokenized assets described above; they are issued by third parties and are subject to issuer terms, eligibility requirements and jurisdictional restrictions. Availability through the API depends on the asset, network and jurisdiction, and integrators are responsible for their own regulatory compliance in the markets they serve. 1inch makes no representation or warranty as to the composition, backing, redemption or performance of any tokenized asset.
As our ecosystem has grown, several early initiatives have been phased out or integrated, while our core offerings have matured. To sharpen our strategic focus, JUST has restructured its brand architecture around three flagship product lines and unified all governance and buybacks under JUST DAO. Alongside this upgrade, our redesigned official website is now live. Here are the key updates:
I. Core Product Architecture
JUST is an open finance network for the global on-chain economy, rooted in TRON and connected to global markets. It continuously repurchases JST using real business revenue. The ecosystem mainly focuses on the following three core product lines:
JustLend: Put TRON assets to work through lending, sTRX, and Energy services for higher efficiency.
GasFree: Pay transfer fees directly in USDT or USDD to make on-chain transactions frictionless for everyone.
USDD: Access stablecoin liquidity and yield opportunities through overcollateralized minting, PSM swap, and structured products.
Alongside these three products, several other ecosystem businesses make up the full JUST suite.
II. Governance and Buybacks Unified Under JUST DAO
JST serves as the core governance token across the JUST ecosystem, used to submit proposals and cast votes. Governance and buyback-and-burn operations are now formally unified under JUST DAO. Operations previously managed by JustLend Grants DAO have migrated entirely to JUST DAO, establishing a single governance hub across JustLend, USDD, GasFree, and other ecosystem initiatives.
JST's long-term value accrual is anchored in real protocol revenue generated across the ecosystem. Revenue from JustLend and GasFree will continue to fund JST buybacks, and net revenue from USDD exceeding $10 million will be allocated directly toward the buyback program. Historical buyback and burn records will be archived and detailed on the official analytics page, now under the JUST DAO name, to maintain full data auditing and traceability.
Governance infrastructure has also been migrated directly to the JUST official website, providing a single interface for ecosystem-wide proposals and voting.
III. New Official Website & Whitepaper
The redesigned JUST website is now live, featuring an integrated analytics dashboard and a dedicated buyback-and-burn tracker. All historical and ongoing burn metrics are updated regularly for full on-chain transparency.
The JUST Whitepaper has also been updated to detail the ecosystem's streamlined architecture, core product lines, and revised JST tokenomics.
Going forward, JUST DAO will continue to build long-term value for JST through a clearer business structure and more transparent data disclosure. We invite you to explore the new official website and the upgraded JUST ecosystem.
Beating AI Express: Liquid AI has launched a real-time inference engine named RIPL, which enables its small-scale AI models to generate outputs in tens of milliseconds, targeting high-speed-demanding business use cases including search ranking, ad matching, and payment risk control. While mature AI models already exist in these sectors, they typically require task-specific training. Language models can directly parse user input, generate keywords, or make judgments, but their inference speed often fails to meet the demands of real-time operations. RIPL is a system built specifically to accelerate the performance of Liquid AI’s existing models, optimizing the entire workflow from request reception to full result delivery. The company conducted tests on a single NVIDIA B200 GPU: under a load of 1,000 requests per second with 32 tokens for both input and output, the 1.2B-parameter LFM2.5 model completed 95% of requests in 34.6 milliseconds. For comparison, Qwen3.5-0.8B paired with vLLM took roughly 498 milliseconds, a 14.4x gap.
Andreessen Horowitz is rebranding its dedicated cryptocurrency investment practice as a16z Frontier, broadening its mandate beyond blockchain-focused startups to encompass a wider range of emerging technologies.
The change, announced on October 22, 2026, by managing partner Chris Dixon, frames the shift as an expansion rather than a departure.
The firm will continue investing in crypto and related ventures while advocating for sensible regulation in the space.
The new name reflects a focus on “frontier startups”—companies developing novel technologies and creating markets that may require years to mature. Dixon explained that crypto once existed as a relatively isolated domain.
As blockchain infrastructure has gained wider adoption, the distinctions have blurred.
Financial institutions and fintech firms now routinely launch products built on blockchains, making the “crypto company” label less useful. Companies are better defined by the problems they solve and the products they deliver than by the underlying tools they employ.
This approach aligns with a longstanding investment philosophy at the firm of supporting technologies that appear futuristic well before mainstream acceptance.
Dixon, who joined Andreessen Horowitz in 2013, previously emphasized long-horizon bets.
One earlier theme involved new computing devices enabled by cheaper cameras, sensors, and chips following the smartphone boom; that led to investments in areas such as virtual reality headsets and drones.
Crypto represented another major wave, building on social networks and open-source principles.
It facilitated community-driven adoption of networks like Bitcoin and Ethereum and extended open models to services and protocols.
That perspective guided early support for Coinbase and subsequent investments in projects including Solana and Uniswap.
The current expansion coincides with a major technology cycle centered on artificial intelligence.
While the buildout of models and infrastructure continues, the technology is already advanced enough to enable a new generation of products and services.
Dixon highlighted interest in native applications—entirely new activities that were not previously possible—rather than simply accelerating existing work such as coding or knowledge tasks.
Early experiments may initially resemble toys or hobbies, but some can scale if their improvement trajectories prove exponential.
Advances in AI are also expected to make software and hardware easier to create, fueling new devices.
These include autonomous machines capable of perceiving, reasoning, and acting in the physical world, as well as applications drawing on progress in biology and medicine.
Full-stack startups that integrate software, hardware, and services may become more common as founders seek novel forms of defensibility.
AI could further reshape company-building itself as agents gain greater autonomy.
New networks connecting people and intelligent agents—many beginning as individual tools before evolving into multi-user systems—represent another area of opportunity.
Such machine-oriented networks will differ significantly from those designed primarily for humans.
Blockchains retain a meaningful role in this landscape.
Crypto has established fast, low-cost, global, and programmable money rails. Stablecoins are becoming standard tools for fintechs and institutions, while programmable ledgers support both centralized and decentralized financial services.
These capabilities can equip new networks with native economic functions, facilitate machine-to-machine transactions, and provide fresh mechanisms for bootstrapping activity.
Dixon will lead a16z Frontier alongside firm founders Marc Andreessen and Ben Horowitz, together with general partners Eddy Lazzarin and Guy Wuollet.
The firm’s operating teams will continue assisting portfolio companies with regulatory matters, go-to-market strategy, talent, marketing, and technical research and development.
The announcement emphasizes that past technology waves rarely produced the precise outcomes predicted in advance, and that founders are expected to create unforeseen categories. Dixon noted that some of the most important technology developments remain ahead and invited founders working on what comes next to engage with the team.
James Wynn Returns with 40x Short on 0.4947 $BTC at $40.5K
James Wynn(@JamesWynnReal) is back after 49 days!
He opened a 40x short on 0.4947 $BTC ($40.5K), with a liquidation price of $82,671.48.
11 minutes ago
Kalshi plans to launch futures contracts tracking U.S. CPI and core inflation metrics in December.
According to Bloomberg, Kalshi is venturing into new territory to compete with traditional financial trading platforms, pitching its U.S. inflation-linked futures market to large global banks and hedge funds. People familiar with the matter said the New York-based firm, known for its prediction markets, plans to launch futures contracts tracking the U.S. Consumer Price Index (CPI) and core inflation metrics (excluding food and energy prices) on its trading platform in December. Kalshi has hired Michael Ashton, a former trader at Barclays, to design the contracts and attract large institutional investors. Ashton, who is skilled in inflation trading, is nicknamed "Mr. Inflation".
11 minutes ago
Google has released the Gemini API CLI, enabling Claude Code, Codex to directly call its image generation, video creation, and other capabilities.
Beating AI News Flash: Google AI Studio has launched the open-source Gemini API CLI, a tool that enables AI agents such as Claude Code and Codex to directly call Google’s multimodal models. For example, when using Codex to build a website, users can invoke Gemini to generate images, videos, voiceovers, analyze PDFs, and transcribe audio. The tool also supports Deep Research, allowing users to assign complex research tasks to Google’s research agent and retrieve results after completion. Previously, integrating these features required agents to look up model names and write API call scripts; now, users only need to configure a Gemini API key to operate it via the command line. Additionally, the tool can query available models and parameters, and saves generated files locally, avoiding the need to load large volumes of content into the context window.
11 minutes ago
Pre-Market News Roundup for US Stocks: Tesla and SpaceX merger may face antitrust scrutiny, OpenAI nears completion of new funding round.
Key pre-market news for U.S. stocks on Friday is as follows: 1. SpaceX’s potential merger with Tesla faces antitrust scrutiny; the company is in talks to connect 80,000 cellular sites to build a new network. 2. OpenAI is nearing completion of a new funding round, seeking to raise up to $30 billion at a pre-money valuation of $1.25 trillion. 3. California Public Employees’ Retirement System (CalPERS), the largest U.S. public pension fund, is adjusting its asset allocation: cutting direct holdings in the "Magnificent Seven" tech giants while increasing exposure to private equity. 4. SK Hynix has scrapped the pre-IPO financing and IPO plans of its subsidiary Solidigm. 5. U.S. spot Bitcoin ETFs saw a net outflow of $635 million yesterday, with Ethereum ETFs recording a net outflow of $110 million.
11 minutes ago
Phantom launches Kalshi prediction markets for US users.
Crypto wallet provider Phantom is launching Kalshi’s prediction market for U.S. users, allowing customers to trade event contracts directly within its app. The feature rolled out on Friday, October 23, and will be gradually expanded to more users over the coming weeks. Phantom users must complete Kalshi’s Know Your Customer (KYC) verification to access the function. The launch comes as multiple U.S. states are raising questions about Kalshi. When asked if the related legal disputes are a concern for Phantom, Phantom’s General Counsel Kevin Jacobs said the company is confident in moving forward with the business.
11 minutes ago
CZ: 99% of startup ideas are worth trying, the key lies in whether the team can execute them properly.
Binance founder CZ posted that people often ask him whether his startup ideas are viable, as if his opinion holds much weight. He noted that as long as a team has strong enough execution, 99% of ideas are good, but the key issue is that 98% of teams fail to execute effectively. Therefore, instead of pitching startup ideas, one should directly demonstrate their execution capabilities.
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.
Cysic dangles a 10% bounty, hacker pours loot into Tornado CashThe attacker moved $744,000 in ETH and BNB to Tornado Cash after exploiting Cysic’s bridge to mint 10 million tokens on BNB Smart Chain.
The wallet linked to the Cysic bridge exploit sent about $744,000 in cryptocurrencies to Tornado Cash on Friday after the Cysic Foundation offered the attacker a 10% recovery bounty.
The address transferred 300 Ether (ETH) and 30.4 BNB to the crypto mixer, according to blockchain security company PeckShield.
The hacker exploited a bridge vulnerability to mint 10 million Cysic (CYS) tokens on BNB Smart Chain on Saturday. Cysic suspended the bridge and blacklisted the recipient address, freezing about 2.8 million of the newly minted tokens. The foundation said its mainnet and existing assets in user wallets were unaffected.
The following Thursday, the Cysic Foundation offered the hacker a 10% bounty in exchange for returning 275.872 ETH, worth about $665,000, representing roughly 90% of the identified Ether proceeds.
Tornado Cash pools deposits from multiple addresses, making the funds harder to trace. The attacker’s Ethereum wallet held just $45 in ETH at press time, according to Akham data.
Cointelegraph contacted the Cysic Foundation for comment on fund recovery efforts but did not receive a response by publication.
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Cysic dangles a 10% bounty, hacker pours loot into Tornado CashThe attacker moved $744,000 in ETH and BNB to Tornado Cash after exploiting Cysic’s bridge to mint 10 million tokens on BNB Smart Chain.
The wallet linked to the Cysic bridge exploit sent about $744,000 in cryptocurrencies to Tornado Cash on Friday after the Cysic Foundation offered the attacker a 10% recovery bounty.
The address transferred 300 Ether (ETH) and 30.4 BNB to the crypto mixer, according to blockchain security company PeckShield.
The hacker exploited a bridge vulnerability to mint 10 million Cysic (CYS) tokens on BNB Smart Chain on Saturday. Cysic suspended the bridge and blacklisted the recipient address, freezing about 2.8 million of the newly minted tokens. The foundation said its mainnet and existing assets in user wallets were unaffected.
The following Thursday, the Cysic Foundation offered the hacker a 10% bounty in exchange for returning 275.872 ETH, worth about $665,000, representing roughly 90% of the identified Ether proceeds.
Tornado Cash pools deposits from multiple addresses, making the funds harder to trace. The attacker’s Ethereum wallet held just $45 in ETH at press time, according to Akham data.
Cointelegraph contacted the Cysic Foundation for comment on fund recovery efforts but did not receive a response by publication.
Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
TLDR The XRP Ledger’s total stablecoin market cap fell 13.19% in a week to about $999.9 million. XRPL still ranks 12th in the world by stablecoin supply, one spot ahead of Aptos. RLUSD, which holds over 90% of XRPL stablecoin value, dropped 14.39% to around $907 million. Ripple burned $50.6 million RLUSD on XRPL and minted $38.6 million on Ethereum. Cross River Bank, Arf and Standard Chartered have all launched new RLUSD services. The XRP Ledger’s stablecoin market has shrunk over the past week. Data from DefiLlama shows that the total stablecoin market cap on XRPL fell 13.19% in seven days.
The figure now stands at about $999.9 million. That puts it just under the $1 billion mark.
Despite the drop, XRPL still ranks 12th in the world by stablecoin supply. It sits one spot ahead of Aptos, which holds 13th place.
XRP Price on CoinGecko RLUSD Leads the Decline Ripple’s dollar-pegged stablecoin, RLUSD, makes up most of the stablecoin value on the ledger. It accounts for about 90.75% of the total.
RLUSD’s market cap on XRPL fell to around $907 million as of October 22, 2026. That is a 14.39% drop over seven days.
Earlier in October, total stablecoins on the ledger had climbed above $1.3 billion. The current level is well below that peak.
Recent mint and burn activity helps explain the move. According to CoinGape, Ripple Treasury minted $38.6 million RLUSD on Ethereum while burning $50.6 million on XRPL.
That resulted in a net $12 million cut in circulating supply. The pattern points to Ripple moving RLUSD liquidity from XRPL toward Ethereum.
Institutional demand appears to be drawing RLUSD to Ethereum, where DeFi and collateral use cases are more developed. Because one issuer controls over 90% of XRPL’s stablecoin supply, Ripple’s decisions directly move the ledger’s numbers.
RLUSD’s total supply across all chains remains between $2.35 billion and $2.4 billion. This suggests the token is being spread across networks rather than shrinking overall.
New Partnerships on the XRP Ledger Ripple has continued to add partners on XRPL. Cross River Bank recently integrated RLUSD into its core banking platform on the ledger.
The integration gives fintech firms access to RLUSD-based settlement, cross-border transfers and blockchain payments. Growth in settlement volume from these partners could bring supply back to the ledger over time.
Ripple has also teamed up with Arf to provide RLUSD-backed working capital to licensed cross-border payment firms on XRPL. Arf plans to deploy that liquidity through XRPL’s native lending protocol once it goes live.
Standard Chartered has opened institutional custody for RLUSD through its Dubai DIFC branch. The service gives regulated clients a way to hold the stablecoin.
XRPL passed Stellar in stablecoin supply earlier this year as RLUSD grew. It still holds that lead after this week’s pullback.
Market watchers are now tracking whether supply returns to the $1 billion to $1.2 billion range. They are also watching how Ripple splits RLUSD mints and burns between XRPL and Ethereum.
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.
White.market, a CS2 skins marketplace, together with WhiteBIT are launching Cache Back. The campaign combines in-game item trading with rewards in Tether Gold (XAU₮), a digital token backed by physical gold.
From October 14 to December 12, 2026, users who purchase CS2 skins on white.market can receive up to $25 worth of XAU₮ in their WhiteBIT accounts.
For white.market’s trading community, this opens not only access to more than one million CS2 skins, but also the opportunity to receive a reward in a digital asset that represents ownership of physical gold.
Skins have long outgrown their purely in-game function. They’re collected, resold, and rare items can be worth thousands of dollars: according to analyst estimates, the secondary CS2 skin market’s capitalization ranged between $4.3–6 billion in 2025–2026, with players opening over 400 million cases each year (SteamDB). Cache Back adds a new element to that experience — an introduction to tokenized gold through a purchase players already make.
Gold has long been viewed as a store of value, and tokenization now makes it as easy to hold as any digital asset — without a vault or physical storage. XAU₮, issued by Tether, is one of the largest tokens that provides you ownership of real physical gold.
XAU₮ tokens are divisible into increments as small as 0.000001 fine troy ounce of gold held in a Swiss vault.
Cache Back sits precisely at the intersection of these two trends — the excitement of the skin market and growing interest in stable digital assets.
A single skin purchase of $20 or more during the campaign period qualifies for cashback. A standard skin earns $20 in XAU₮, while a skin from the Gold Collection earns $25. Each participant may receive the cashback only once during the entire campaign. The reward is credited automatically, but withdrawing, trading, or converting it requires completed KYC verification on WhiteBIT, to be finished by December 31, 2026.
Gold Tickets can also be earned without a purchase, through Quick Learn — short educational cards explaining what XAU₮ is and how it is backed by physical gold.
Participation opens on October 14. Only users whose Steam accounts were registered before the start of the campaign can take part. To join, sign in to white.market via Steam and connect a WhiteBIT account. Full terms are available on the campaign page.
WhiteBIT and white.market are part of W Group. W Group is a global fintech ecosystem that brings together high-tech companies across blockchain, cryptocurrencies, traditional finance, and media.
The campaign’s materials, including Quick Learn, are for informational and educational purposes only and do not constitute investment, financial, or trading advice. Full terms, including a list of countries and jurisdictions with participation restrictions, are available on the campaign page on white.market.
AUTHOR
Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.
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.
Gate.io has released its latest Proof of Reserves (PoR) report, showing that it holds more XRP than its customers collectively have on the exchange.
The Proof of Reserve, released on Oct. 20, 2026, puts XRP’s reserve ratio at approximately 115%, meaning Gate holds 15% more tokens than customers have deposited.
Based on the audit snapshot from Oct. 18, 2026, the report also shows that the exchange holds more than its customers’ balances across every other major asset class. Gate has published verified reserve reports since 2020.
Gate Strengthens Its Overall Reserve Coverage Gate’s October report reveals that customers held a combined $7.332 billion in assets on the platform at the time of the snapshot, including more than 52 million XRP.
The exchange held $8.688 billion in total reserves, bringing its overall reserve ratio to 118.49%. This marks an increase from the 117.26% recorded in the previous reporting period.
Gate’s reserves exceeded customer balances by $1.356 billion, giving the exchange an additional buffer to meet withdrawals if many customers seek to withdraw their assets at once.
Gate has maintained excess reserves throughout 2026, building on its first PoR audit in 2020. Its reserve ratio stood at 125% in January, when total reserves reached $9.478 billion, before falling to 122% in March.
The October ratio is lower than both earlier figures, partly due to the effect of a larger and faster-growing customer base. However, Gate still holds more than $1.3 billion above its customers’ combined balances, which keeps its total reserves well above its reported liabilities.
Gate Proof of Reserves Shows Small XRP Holdings Gate’s October PoR puts its XRP reserve ratio at approximately 115%. Specifically, customers held 52,529,328 XRP on the exchange, worth about $69.8 million at the time of the snapshot.
Gate.io Proof of Reserves shows XRP overcollateralized at 115% Meanwhile, Gate held 60,396,694 XRP, valued at approximately $78.9 million. By press time, XRP had risen to $1.33, pushing the value of the exchange’s XRP holdings above $80.3 million.
Interestingly, on-chain data provided by XRPScan shows that Gate now holds 58.65 million XRP across four XRP Ledger (XRPL) accounts. This represents approximately 0.88% of the 68.4 billion XRP tokens in circulation.
Onchain data shows Gate.io holds 58M XRP across 4 accounts Gate’s XRP holdings remain relatively small compared with those of the largest centralized exchanges. South Korea’s Upbit leads with approximately 4.4 billion XRP across 13 XRPL accounts, accounting for 6.43% of the circulating supply.
Coinbase follows with 3.99 billion XRP across 343 accounts, representing 5.84%, while Binance ranks third with 1.874 billion XRP across 145 accounts, giving it a 2.74% share.
Robinhood, Bithumb, Uphold, and Kraken also rank among the top 10 XRP exchange holders, holding between 958 million and 1.6 billion XRP. Phemex, meanwhile, reported an XRP reserve ratio of 153.55% in its September 2026 PoR.
Bitcoin, Ethereum, and Stablecoins Equally Well-Covered Gate also holds more Bitcoin and Ethereum than its customers collectively own. Customers held 21,156 BTC on the exchange, while Gate maintained 25,727 BTC in reserves, worth $2.115 billion. This brought its Bitcoin reserve ratio to 121.6%. Essentially, the exchange held more than 4,500 BTC above customer balances.
With Ethereum, Gate’s customers held 362,785 ETH, while the exchange maintained 449,042 ETH worth $1.082 billion. These holdings resulted in an Ethereum reserve ratio of 123.78%.
Gate’s stablecoin reserves also exceeded customer balances. The exchange held $929.8 million in USDT, giving it a reserve ratio of 111.68%. Its USD1 reserves reached $395.594 million, producing a ratio of 100.98%. As for GUSD, Gate held $317.3 million, giving it a reserve ratio of 181.11%.
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.
Bitget is taking its real-world asset (RWA) strategy a step further. Instead of limiting users to tokenized stocks and ETFs, the exchange now lets eligible securities move from external brokerage accounts into its ecosystem. It also plans to improve liquidity through a dedicated trading engine. However, the figures suggest the business still has room to grow.
In Brief Bitget’s rToken Transfer lets eligible US-listed stocks and ETFs held at external brokers enter its platform without being liquidated first. The process moves securities into an Alpaca omnibus account, where Bitget’s In-Kind Tokenization Network converts them into rTokens. A second layer, Super Match, is meant to deepen liquidity and price discovery beyond conventional trading hours, subject to market conditions. From Tokenized Stocks to Brokerage Integration Bitget has recently expanded its product lineup, adding new yield opportunities alongside tokenized equities. Initially, rTokens gave users exposure to US stocks and ETFs. Now, the company wants to connect those digital assets with traditional brokerage accounts.
In a statement dated October 21, Bitget presented this shift as a move beyond product listings toward a more integrated market structure (company announcement).
The first step is rToken Transfer, which launched on October 13 and supports more than 3,000 eligible assets. Users initiate a Free of Payment (FoP) securities transfer from an external broker to Bitget’s designated Alpaca omnibus account. Once the securities arrive, Bitget’s In-Kind Tokenization Network converts them into corresponding rTokens and credits the tokens to the user’s spot account.
As a result, investors can bring existing equity holdings into a tokenized environment without selling their shares first. This approach could make it easier to connect traditional portfolios with digital asset markets.
Super Match Targets Liquidity Beyond Market Hours Moving securities onto a platform is only part of the challenge. Investors also need reliable pricing and sufficient liquidity to trade efficiently.
That is where Super Match comes in. Bitget describes the system as a way to connect internal trading flows, market makers and multiple price-discovery sources. Its goal is to improve execution and support trading beyond conventional market hours.
This matters because tokenized stocks can trade around the clock, while their underlying US markets follow regular trading schedules. Consequently, platforms need alternative ways to assess prices when traditional exchanges close. Solana’s recent growth in tokenized assets illustrates the expanding market for these products.
Still, Bitget makes no guarantee of deeper liquidity or continuous trading. Pricing and availability will depend on market conditions, supported assets and applicable product terms.
Modest Assets Under Management Leave Room to Grow The figures provide a useful reality check. By July 6, rTokens had attracted approximately $114 million in assets under management, while cumulative transactions exceeded two million. Bitget also says its Universal Exchange serves more than 125 million users.
However, these figures measure different things. The platform’s user base does not automatically translate into demand for tokenized equities. At roughly $114 million, rToken assets under management suggest that Bitget’s RWA business remains at an early stage.
Meanwhile, traditional financial institutions are exploring similar opportunities. JPMorgan’s move to open JPM Coin to institutions on Ethereum offers another example of the growing interest in blockchain-based financial infrastructure.
Looking ahead, Bitget sees several potential uses for rTokens, including spot trading, eligible margin functions, borrowing, lending and yield products. However, collateral and other financial applications will depend on asset eligibility, local regulations and product terms.
Ultimately, brokerage integration will succeed only if investors can transfer assets easily, receive their tokens quickly and trade with sufficient liquidity. Bitget has outlined the infrastructure, but adoption will determine whether it becomes a meaningful bridge between traditional finance and crypto.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Trader Peter Brandt said on X that a EUR/JPY short is now his firm’s largest futures and currency position. The pair has fallen from an April high near 187.5, yet euro rates sit at twice Japan’s.
EUR/JPY, the price of one euro in yen, sat at 175.65 in futures on Brandt’s chart. Still, the European Central Bank (ECB) pays 2.5% on deposits versus 1.25% at the Bank of Japan (BOJ).
Why Is the Yen Gaining Against a Higher-Yielding Euro?Washington has intervened directly. On July 31, the US Treasury sold euros for yen alongside Japan. The ECB learned of the trade only afterward, the Financial Times reported.
The action helped lift the yen to 157.57 per dollar from a 163.73 low, CNBC reported.
Meanwhile, Japan’s core inflation reached 2.1% in September. That tops the BOJ’s 2% target for the first time since December, Statistics Bureau data show.
Overnight swaps, which track rate expectations, imply an 80% chance of a December BOJ hike, the Japan Times reported. A hold is expected on October 30.
Likewise, the ECB lifted its deposit rate from 2.25% to 2.5% on September 10, its second hike this year. An energy shock tied to the Iran war has pushed eurozone inflation higher, Euronews reported. ECB President Christine Lagarde has said policymakers are not pre-committing to a rate path.
Can the EUR/JPY Short Survive 2 Central Bank Decisions?Brandt’s chart shows the pair moving sideways through early 2026 before it broke below a range floor near 180. It has traded under that level since late September, Investing.com data show.
His post offered no rationale beyond the chart. The ECB decides on October 29 and the BOJ a day later.
However, a BOJ hike would favor the short, while an ECB hike or a dovish BOJ hold could test it.
Finance Minister Satsuki Katayama has called an undervalued yen a problem. After the July action, Treasury Secretary Scott Bessent said Washington would not hesitate to join further intervention. That could tie the yen’s path to Washington and Tokyo as much as to the BOJ.
The Blockchain Association is urging Congress to overhaul crypto tax rules, including a $10 de minimis exemption and wash sale rules, as the CLARITY Act stalls in the Senate.
The Blockchain Association (@BlockchainAssn) is calling on Congress to fix unclear crypto tax rules while the CLARITY Act remains stalled. The industry group says existing rules are difficult to follow and need an overhaul.
According to The Block, the group, which represents more than 100 firms, sent a letter on Thursday to Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries. It said current tax policy is outdated and unworkable.
What the Blockchain Association wantsThe group's proposals include tax exemptions for transactions involving $10 or less in network fees, stronger taxpayer privacy protections and extending wash sale rules to crypto. According to Bitcoin Magazine, the letter also asks for cash treatment for stablecoins, taxation of mining and staking rewards at sale rather than receipt, and broker reporting limited to firms that hold customer assets. It adds a safe harbor for foreign traders on U.S. exchanges, a mark-to-market election and R&D credit eligibility for blockchain development.
Lindsay Fraser, the group's chief policy officer, said in the letter that Americans using digital assets want to follow the law and pay what they owe, but that today's rules are often unclear and unworkable, per The Block. The letter says the rules governing the 67 million Americans who hold digital assets were written for a different era, Bitcoin Magazine reported.
The push is the group's first broad tax campaign since the CLARITY Act failed in the Senate last month. The letter does not endorse a specific bill.
Why the CLARITY Act matters hereThe CLARITY Act is a market structure bill, not a tax measure. DLA Piper noted that the Senate failed to advance it on September 15, 2026, nearly eliminating the chance that a market structure bill is enacted this year. Digital Today reported that the motion to end debate failed with 49 votes in favour and 50 against, and that Senator Thom Tillis filed a motion to reconsider, leaving procedural room to revive the effort.
On the tax side, the House has moved separately. The Digital Asset Tax Certainty Act passed the House Ways and Means Committee last month. Unchained reported that the bill would exclude crypto used to pay network or trading fees of $10 or less from gain or loss calculations, starting in 2028. The Block said the bill is not expected to be taken up again until after the November elections.
With Congress largely out until after the midterms, the timeline for any tax changes remains tight. The Blockchain Association has also launched a site, TaxClarityforAmerica.com, for constituents to contact their representatives, according to Bitcoin Magazine.
SourcesThe Block: Blockchain Association pushes for crypto tax clarity as broader bill stalls
Bitcoin Magazine: Blockchain Association Presses Congress On Crypto Taxes As Clarity Act Stalls
DLA Piper: Senate fails to advance the CLARITY Act
Here's everything most interesting surrounding XMR, ZEC, and BTC.
The popular privacy coin XMR has taken center stage lately after its price surged to an eight-month high. Its biggest rival, ZEC, also posted a substantial uptick, but bears stopped the rally, and the asset remains in the red on a weekly basis.
For its part, BTC slipped 1% within the same period, yet the recent whale activity suggests the price may soon head north.
XMR’s Pump The token registered a double-digit price increase yesterday (October 22), surpassing $650 for the first time since January. A potential catalyst for the rally was the announcement that GUI v0.18.5.4 ‘Fluorine Fermi’ has been released. Monero’s team explained that this minor upgrade reopens testnet and stagenet wallets and includes bug fixes.
Some analysts expected XMR to continue its upward trajectory, with X users Sweep and Alaoui Capital predicting an explosion to a new all-time high of $1,000.
Contrary to their projections, though, the privacy coin headed south and is currently worth $605 (per CoinGecko). In fact, Dr Profit recently warned that XMR’s open interest has hit a historic high (a claim Santiment rejected) and noted that the last time OI jumped this much, the price crashed 66% in just 20 days.
ZEC’s Turbulence Zcash also performed well earlier this week and, on October 21, reached a nine-day peak above $1,360. At the time, its ascent likely followed reports that the team behind the asset plans to triple block production speed, with developers targeting November 5 for the NU7 upgrade.
It also coincided with two major investors opening approximately $37 million in long positions on ZEC with 10x leverage. However, the surge was short-lived, and the token now trades near $1,200, down about 2% on a weekly basis.
You may also like: What Falling USDT Supply Means for Bitcoin’s Price Recovery XRP and DOGE Look Undervalued by MVRV Measures, but Will Traders Take Notice? BlackRock Enters the Buffered Bitcoin ETF Race With New SEC Filing Meanwhile, X user Crypto With Gopal suggested bearish pressure has been building and anticipates a further plunge in the near future. He believes bears are now pushing the $1,050 neckline support on a head-and-shoulders pattern and said bulls need to defend support and reclaim $1,300+ to weaken the setup.
What About BTC? The leading cryptocurrency looked ready to touch $85,000 on October 22, but got rejected and now hovers near $81,500. Factors that may have negatively impacted its performance include rising global geopolitical tensions and weak financial markets overall.
Despite the volatility and uncertainty, whales seem reluctant to wave the white flag and have actually increased their exposure to BTC. As Crypto Potato reported, 40 newly created wallets have withdrawn over $770 million worth of the asset since October 1.
Before that, market participants holding between 10 and 10,000 BTC accumulated almost 90,000 units in just one month. Such a buying spree leaves fewer assets available on the open market and could drive prices up (assuming demand doesn’t cool off). It may also encourage smaller players to buy, bringing fresh capital into the ecosystem.
TLDR Ethereum developers postponed the Glamsterdam upgrade on the Hoodi testnet, which was set for October 26, 2026, and no new date has been set. Security firm ChainSecurity warned that gas changes in EIP-8037 and EIP-8038 could weaken protections against insufficient gas griefing attacks. ChainSecurity says it has found 13 real-world smart contracts that could be affected and is working with those projects on responsible disclosure. Mainnet users and ETH holders do not need to take action, but node and validator operators must update their client software. A December mainnet launch is still possible, with a revised Hoodi date expected after Devcon on November 3 to 6. Ethereum developers have postponed the Glamsterdam upgrade on the Hoodi testnet. The upgrade was set to go live on October 26, 2026. No new date has been announced.
The decision was made during All Core Devs Execution call #248. The Ethereum Foundation said the delay gives developers time to study how some proposed changes interact with smart contracts already on Ethereum.
What the Delay Covers The postponement removes three planned changes from the October 26 date. These are the Amsterdam execution layer activation, the Gloas consensus layer activation, and a plan to raise Hoodi’s gas limit to 200 million.
The delay does not undo Hoodi’s chain history. Mainnet users and ETH holders do not need to take any action.
Node and validator operators must update their software. Clients such as Lodestar, Besu, and Nethermind must run versions that confirm the October 26 activation has been removed.
Glamsterdam already went live on the Sepolia testnet on October 6. Sepolia is not affected by this delay.
Security Firm Raises Gas Concerns On October 13, blockchain security firm ChainSecurity warned about two proposals in Glamsterdam, EIP-8037 and EIP-8038. The firm said these changes could weaken protections against an attack known as insufficient gas griefing.
In this type of attack, a caller gives a smart contract too little gas to finish a valid task. ChainSecurity said the new rules could let gas return to a contract after an operation fails, so it keeps running when it would have stopped before.
This could cause problems for contracts that rely on gas checks for security. For example, a contract could remove a user’s claim or block a retry, leaving the user unable to complete a valid action.
ChainSecurity said not all gas-based safety checks would fail. Some would still work, but developers would need to review them against the new rules.
On October 21, security researcher pcaversaccio called the risks “serious” in a GitHub comment. The researcher asked developers to reassess the hard fork.
The Ethereum Foundation had earlier warned that Glamsterdam’s gas model could break some wallets, indexers, and gas estimators that rely on fixed assumptions.
Glamsterdam is Ethereum’s main scaling upgrade for 2026. It includes enshrined proposer-builder separation under EIP-7732, block-level access lists under EIP-7928, and gas repricing under EIP-8037 and EIP-8038.
Developers had been looking at early December for a mainnet launch, depending on successful Hoodi testing. The fourth quarter window remains open, with a revised Hoodi date expected after Devcon, which runs November 3 to 6.
ETH’s price showed little reaction, since the issue affects only the testnet. Institutional buying has continued, with SharpLink deploying $400 million of its ETH treasury on-chain and BitMine adding 12,535 ETH.
On Friday, ChainSecurity said it had found 13 real-world examples of smart contracts that could be affected. The firm did not name the projects and said it is working with them on responsible disclosure. It urged developers to check their contracts as soon as possible.
BONK Inu and PartyBet have launched Get Bonked, a Telegram prediction game where correct calls double the stake and wrong calls lose it. Here is how it works.
BONK Inu (@bonk_inu) $BONK and PartyBet (@partybet) have launched Get Bonked, a new game that runs inside Telegram. The title adds another product to the Bonk memecoin ecosystem on Solana.
How Get Bonked worksThe game is built around quick, high-stakes decisions. Players predict an outcome and then stake their funds. A correct call doubles the stake, while a wrong call loses it, so each round is effectively all or nothing.
The BONK team is also offering bonus cash to selected players who share their winning cards. The mechanic is designed to encourage players to post results and bring others into the game.
As with any game that puts funds at risk, outcomes are binary and losses are possible on every round. Players should only stake what they can afford to lose.
PartyBet and the wider Bonk ecosystemPartyBet is positioned as a Telegram-based platform. According to Solana Compass, PartyBet is a Telegram app with BONK-branded casino games and sports picks. The same profile notes that Bonk's official account began promoting its sports betting feature, with odds supplied by Polymarket, on 9 October 2026.
The tie-up between the two brands is not new. CoinJournal reported that BONK announced a partnership with PartyBet, a platform focused on Telegram-based sports prediction markets and casino-style games. The outlet said the deal expands the utility of BONK beyond its role as a memecoin by introducing another avenue for community participation.
Get Bonked fits a broader pattern for the token. BONK is a dog-themed memecoin on Solana that launched in December 2022 through a community airdrop. It has since grown into a set of products including BonkBot, a Telegram trading bot, a memecoin launchpad known as Letsbonkfun, the BonkSwap exchange and the BONKRewards lock-and-earn program.
Games and betting-style products add to that mix, and they sit inside Telegram, where BonkBot already operates. Whether they help BONK's market performance is a separate question. CoinJournal noted that earlier PartyBet and BONKUJI developments generated attention within the Solana ecosystem but had not translated into a meaningful recovery in the BONK price.
Sources
Solana Compass: Bonk project review
CoinJournal: BONK price struggles despite PartyBet deal and BONKUJI relaunch
Cryptonews: Beyond the Meme, the products built around Bonk
The Circle shareholder lawsuit alleges that two UAE-linked transactions violated the Foreign Emoluments Clause and benefited Trump through World Liberty Financial.
The first transaction involved a $500 million agreement for a 49% stake in World Liberty days before Trump’s January 2025 inauguration.
The complaint also challenges a $2 billion Binance investment settled in World Liberty’s USD1 stablecoin, alleging it benefited Trump’s crypto interests.
Greenberg seeks alleged unlawful profits, additional disclosures and unspecified damages; Circle says it did not participate, while World Liberty rejects the claims.
The Circle shareholder lawsuit puts renewed scrutiny on the Trump family’s crypto business. Greenberg says two UAE-linked transactions violated the Foreign Emoluments Clause. J. Benjamin Greenberg, a former Circle employee and shareholder, filed the derivative complaint in federal court in Washington. He argues the deals benefited President Donald Trump and World Liberty Financial while exposing Circle investors to unfair competition.
The complaint seeks alleged unlawful profits, disclosures about other foreign crypto payments, and unspecified damages. The court has not ruled on the claims. Circle says it had no role in the filing, while World Liberty rejects the allegations as meritless.
Circle Shareholder Lawsuit Centers on Two UAE-Linked Deals
Greenberg filed the Circle shareholder lawsuit on behalf of Circle, the company behind USDC, a dollar-pegged stablecoin. The suit names Trump, World Liberty, U.S. Middle East special envoy Steve Witkoff, and four affiliated limited liability companies. It casts USD1, World Liberty’s dollar-backed stablecoin, as a direct competitor to USDC. In the Circle shareholder lawsuit, Greenberg says UAE-linked competition diverted business from Circle and harmed its investors.
Derivative actions let shareholders pursue claims on a company’s behalf, rather than only for themselves. Greenberg’s filing says World Liberty’s stablecoin competition harmed Circle and its investors. Any recovery depends on a court accepting the claims.
The first transaction centers on a $500 million sale of a 49% stake in World Liberty. A vehicle backed by Sheikh Tahnoon bin Zayed Al Nahyan agreed to the purchase days before Trump’s January 2025 inauguration. Tahnoon is the UAE’s national security adviser. The complaint alleges Trump received financial benefits from the transaction after taking office. It describes the funding as foreign-state money flowing into a business linked to the president.
The second deal involves a $2 billion investment in Binance by Abu Dhabi’s MGX fund, which Tahnoon chairs. The payment was made using USD1, according to reporting cited in the complaint.
Greenberg argues the stablecoin transaction helped raise USD1’s profile and value, benefiting Trump’s interests in World Liberty. The Circle shareholder lawsuit frames both deals as alleged foreign benefits tied to Trump’s crypto holdings.
Greenberg Seeks Profit Recovery, Disclosure and Unspecified Damages
The Foreign Emoluments Clause bars federal officeholders from accepting benefits from foreign states without congressional consent. Greenberg asks the court to declare that Trump’s profits violated the restriction. He wants the court to order Trump to return gains it deems unlawful. He also seeks an accounting of foreign crypto-related payments and disclosure of other transactions. The suit requests damages but does not specify an amount. Those requests are allegations and remedies sought, not findings by a court.
Circle said it did not initiate, direct, authorize, or take part in the case. The company emphasized that Greenberg filed as an individual shareholder. World Liberty spokesperson David Wachsman called the claims meritless and said the firm would address them in court. White House spokeswoman Anna Kelly described the case as frivolous and denied any conflict of interest. Witkoff’s representative had not responded to requests for comment, according to the report.
The Circle shareholder lawsuit centers on UAE crypto deals amid scrutiny of Trump-family interests. Trump co-founded World Liberty Financial with his sons before taking office and stopped participating in the project in 2025.
The lawsuit focuses on alleged financial benefits. It also points to U.S. approval of advanced AI chip exports to the UAE and Trump’s pardon of convicted Binance founder Changpeng Zhao. The filing alleges those actions intersected with the deals. The case is Greenberg v. Trump, 26-cv-03686, in the U.S. District Court for the District of Columbia. No judgment or ruling has resolved the claims.
A shareholder in Circle Internet Group Inc. (NYSE:CRCL) sued President Donald Trump and World Liberty Financial (WLFI) on Thursday, alleging illegal profiteering that violates the U.S. Constitution.
UAE-Linked Deals Under ScannerA lawsuit filed in U.S. District Court in Washington by shareholder and former Circle employee J. Benjamin Greenberg alleged that Trump profited from more than $2 billion in payments tied to a foreign government through World Liberty Financial, a cryptocurrency platform co-founded by his sons.
The suit cast doubt on two deals: the first is a $500 million sale of a 49% stake in World Liberty Financial to an investment vehicle backed by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and a senior royal. The second was Abu Dhabi investment firm MGX‘s $2 billion deal with Binance using the World Liberty Financial USD (USD1) stablecoin.
Brazen Corruption, Alleges PlaintiffGreenberg said the deals violated the Foreign Emoluments Clause, which prohibits federal officeholders from accepting any present, emolument, office or title from any king, prince, or foreign state without congressional consent.
Read Next
“No president in American history has profited from his office so brazenly. Nor has this President tried to hide his corruption,” they said.
The plaintiff alleged the actions diverted business from Circle, the issuer of the world’s second-largest stablecoin USDC (CRYPTO: USDC), and sought “compensatory and punitive damages.”
Circle didn’t immediately return Benzinga’s request for comment. Responses from the White House and World Liberty Financial are also awaited.
The Crypto PresidentThis is not the first time World Liberty Financial’s UAE-related deals have faced scrutiny. Sen. Elizabeth Warren (D-Mass.) has repeatedly raised concerns about the nature of those transactions.
The firm lists President Donald Trump and special envoy Steve Witkoff as co-founders emeritus and is run by members of the Trump and Witkoff families.
Trump’s 2025 financial disclosure showed more than $1.4 billion in income from crypto ventures, including more than $520 million from World Liberty Financial token sales.
The White House has rejected conflict-of-interest allegations, deeming it as one of those "tired" narratives that Democrats have pushed against Trump for years.
Price Action: At the time of writing, WLFI was trading at $0.05445, down 1.9% over the last 24 hours, according to Benzinga Pro.
Circle shares were down 0.21% in overnight trading after closing 3.44% lower at $86.62 during Thursday’s regular trading session.
Benzinga’s Edge Stock Rankings indicate that CRCL maintains a stronger price trend over the long term, though it has lagged in the short and medium term.
Photo courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs
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.
$KIMCHI Token Surges to $14M Then Crashes 95% After Coordinated Social Posts and Deletions
Today, kimchi (@kimchi1x) received 500M $kimchi and posted about the token, and @a1lon9 reposted it.
But @a1lon9 later undid his repost, and @kimchi1x deleted the post.
$kimchi quickly surged to a $14M market cap before crashing over 95%.
We found that the scammers used
11 minutes ago
Solana Foundation’s Head of Payments: Any asset could be tokenized in the next decade.
Amira Valliani, Head of Payments Business Growth at the Solana Foundation, stated that both the cryptocurrency industry and the AI sector are advancing the development of token use cases, and the tokenization trend will continue to expand. She noted that tokens are fundamentally a machine-recognizable and processable form of asset representation, adding that over the next decade, any asset-bearing entity could be tokenized. Valliani emphasized that tokenization is poised to become a critical infrastructure linking crypto assets, AI applications, and real-world assets, facilitating the integration of more assets into a programmable, tradable digital framework.
11 minutes ago
The largest U.S. public pension fund has significantly reduced its holdings in the "Magnificent Seven" tech stocks, shifting to increase allocations to private equity.
According to a Financial Times report, CalPERS, the largest U.S. public pension fund (California Public Employees' Retirement System), is adjusting its asset allocation: cutting direct holdings of the "Magnificent Seven" tech giants while increasing exposure to private equity to reduce concentration risk in public equity investments. Calculations from regulatory filings show CalPERS will slash its direct holdings of stocks in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla by 26% in the first half of 2026. The fund is instead diversifying its portfolio across hundreds of companies, cutting concentrated bets on a small number of top firms. Anton Orlich, CalPERS' deputy chief investment officer, confirmed this allocation shift in an interview. He noted that public equity market valuations are already elevated, and concentration in a handful of leading companies is pressuring relative returns. In contrast, private companies offer more attractive pricing, helping CalPERS buffer against potential downturns in public markets. This rebalancing took place ahead of the recent tech stock sell-off. This week, multiple tech giants released earnings reports, stoking market concerns over whether AI spending can translate into tangible returns. Microsoft, Amazon, and Alphabet are set to report results next week, leaving the tech sector facing further tests. As of June 30, CalPERS' assets under management reached $637.1 billion. Data released by the fund in July showed its preliminary net investment return for the past 12 months was 14.8%, with both public and private equity portfolios performing strongly.
11 minutes ago
Hong Kong's Secretary for the Treasury: Hong Kong's tokenization initiative is advancing towards the implementation phase.
Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Hui Ching Yu, stated that Hong Kong’s tokenization development is transitioning from the "experimental phase" to the "implementation phase". Currently, Hong Kong hosts over 1,400 fintech enterprises, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms, which have achieved notable results in advancing tokenization. Hui added that the Hong Kong Exchanges and Clearing (HKEX) is committed to launching a tokenized warehouse receipt financing pilot program next year. The project will partner with designated banks, utilizing distributed ledger technology, to facilitate the use of commodity warehouse receipts as collateral. Furthermore, HKEX is also developing a multi-asset tokenization platform that will include commodity warehouse receipts from approved warehouses.
11 minutes ago
South Korea's KOSPI index closed 0.3% higher, with SK Hynix gaining 4.41%.
According to Bitget's market data, South Korea's KOSPI index closed up 16.53 points on Friday, October 23, with a 0.3% gain, ending at 5550.3 points. SK Hynix closed 4.41% higher, while Samsung Electronics rose 0.46%.
11 minutes ago
He Yi reposted Binance's Agent wallet risk alert, warning of transaction risks associated with the Agent developer mode.
Jackson.ll (@0xOar), developer of Binance Wallet’s web version, posted today, stating: “Agent ID is being used in various ways, but users should also carefully check risk warnings. Enabling developer mode for the Agent means you can sign unverified contract transactions... Potential risks need attention. You can close the mode immediately after minting, or wait for products from verified developers.” He Yi subsequently retweeted the post. Earlier reports indicated that multiple minting projects exclusive to Binance Agent Wallet have recently emerged in the market, with some requiring developer mode activation.
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.
$KIMCHI Token Surges to $14M Then Crashes 95% After Coordinated Social Posts and Deletions
Today, kimchi (@kimchi1x) received 500M $kimchi and posted about the token, and @a1lon9 reposted it.
But @a1lon9 later undid his repost, and @kimchi1x deleted the post.
$kimchi quickly surged to a $14M market cap before crashing over 95%.
We found that the scammers used
11 minutes ago
Solana Foundation’s Head of Payments: Any asset could be tokenized in the next decade.
Amira Valliani, Head of Payments Business Growth at the Solana Foundation, stated that both the cryptocurrency industry and the AI sector are advancing the development of token use cases, and the tokenization trend will continue to expand. She noted that tokens are fundamentally a machine-recognizable and processable form of asset representation, adding that over the next decade, any asset-bearing entity could be tokenized. Valliani emphasized that tokenization is poised to become a critical infrastructure linking crypto assets, AI applications, and real-world assets, facilitating the integration of more assets into a programmable, tradable digital framework.
11 minutes ago
The largest U.S. public pension fund has significantly reduced its holdings in the "Magnificent Seven" tech stocks, shifting to increase allocations to private equity.
According to a Financial Times report, CalPERS, the largest U.S. public pension fund (California Public Employees' Retirement System), is adjusting its asset allocation: cutting direct holdings of the "Magnificent Seven" tech giants while increasing exposure to private equity to reduce concentration risk in public equity investments. Calculations from regulatory filings show CalPERS will slash its direct holdings of stocks in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla by 26% in the first half of 2026. The fund is instead diversifying its portfolio across hundreds of companies, cutting concentrated bets on a small number of top firms. Anton Orlich, CalPERS' deputy chief investment officer, confirmed this allocation shift in an interview. He noted that public equity market valuations are already elevated, and concentration in a handful of leading companies is pressuring relative returns. In contrast, private companies offer more attractive pricing, helping CalPERS buffer against potential downturns in public markets. This rebalancing took place ahead of the recent tech stock sell-off. This week, multiple tech giants released earnings reports, stoking market concerns over whether AI spending can translate into tangible returns. Microsoft, Amazon, and Alphabet are set to report results next week, leaving the tech sector facing further tests. As of June 30, CalPERS' assets under management reached $637.1 billion. Data released by the fund in July showed its preliminary net investment return for the past 12 months was 14.8%, with both public and private equity portfolios performing strongly.
11 minutes ago
Hong Kong's Secretary for the Treasury: Hong Kong's tokenization initiative is advancing towards the implementation phase.
Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Hui Ching Yu, stated that Hong Kong’s tokenization development is transitioning from the "experimental phase" to the "implementation phase". Currently, Hong Kong hosts over 1,400 fintech enterprises, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms, which have achieved notable results in advancing tokenization. Hui added that the Hong Kong Exchanges and Clearing (HKEX) is committed to launching a tokenized warehouse receipt financing pilot program next year. The project will partner with designated banks, utilizing distributed ledger technology, to facilitate the use of commodity warehouse receipts as collateral. Furthermore, HKEX is also developing a multi-asset tokenization platform that will include commodity warehouse receipts from approved warehouses.
11 minutes ago
South Korea's KOSPI index closed 0.3% higher, with SK Hynix gaining 4.41%.
According to Bitget's market data, South Korea's KOSPI index closed up 16.53 points on Friday, October 23, with a 0.3% gain, ending at 5550.3 points. SK Hynix closed 4.41% higher, while Samsung Electronics rose 0.46%.
11 minutes ago
He Yi reposted Binance's Agent wallet risk alert, warning of transaction risks associated with the Agent developer mode.
Jackson.ll (@0xOar), developer of Binance Wallet’s web version, posted today, stating: “Agent ID is being used in various ways, but users should also carefully check risk warnings. Enabling developer mode for the Agent means you can sign unverified contract transactions... Potential risks need attention. You can close the mode immediately after minting, or wait for products from verified developers.” He Yi subsequently retweeted the post. Earlier reports indicated that multiple minting projects exclusive to Binance Agent Wallet have recently emerged in the market, with some requiring developer mode activation.
$KIMCHI Token Surges to $14M Then Crashes 95% After Coordinated Social Posts and Deletions
Today, kimchi (@kimchi1x) received 500M $kimchi and posted about the token, and @a1lon9 reposted it.
But @a1lon9 later undid his repost, and @kimchi1x deleted the post.
$kimchi quickly surged to a $14M market cap before crashing over 95%.
We found that the scammers used
11 minutes ago
Solana Foundation’s Head of Payments: Any asset could be tokenized in the next decade.
Amira Valliani, Head of Payments Business Growth at the Solana Foundation, stated that both the cryptocurrency industry and the AI sector are advancing the development of token use cases, and the tokenization trend will continue to expand. She noted that tokens are fundamentally a machine-recognizable and processable form of asset representation, adding that over the next decade, any asset-bearing entity could be tokenized. Valliani emphasized that tokenization is poised to become a critical infrastructure linking crypto assets, AI applications, and real-world assets, facilitating the integration of more assets into a programmable, tradable digital framework.
11 minutes ago
The largest U.S. public pension fund has significantly reduced its holdings in the "Magnificent Seven" tech stocks, shifting to increase allocations to private equity.
According to a Financial Times report, CalPERS, the largest U.S. public pension fund (California Public Employees' Retirement System), is adjusting its asset allocation: cutting direct holdings of the "Magnificent Seven" tech giants while increasing exposure to private equity to reduce concentration risk in public equity investments. Calculations from regulatory filings show CalPERS will slash its direct holdings of stocks in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla by 26% in the first half of 2026. The fund is instead diversifying its portfolio across hundreds of companies, cutting concentrated bets on a small number of top firms. Anton Orlich, CalPERS' deputy chief investment officer, confirmed this allocation shift in an interview. He noted that public equity market valuations are already elevated, and concentration in a handful of leading companies is pressuring relative returns. In contrast, private companies offer more attractive pricing, helping CalPERS buffer against potential downturns in public markets. This rebalancing took place ahead of the recent tech stock sell-off. This week, multiple tech giants released earnings reports, stoking market concerns over whether AI spending can translate into tangible returns. Microsoft, Amazon, and Alphabet are set to report results next week, leaving the tech sector facing further tests. As of June 30, CalPERS' assets under management reached $637.1 billion. Data released by the fund in July showed its preliminary net investment return for the past 12 months was 14.8%, with both public and private equity portfolios performing strongly.
11 minutes ago
Hong Kong's Secretary for the Treasury: Hong Kong's tokenization initiative is advancing towards the implementation phase.
Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Hui Ching Yu, stated that Hong Kong’s tokenization development is transitioning from the "experimental phase" to the "implementation phase". Currently, Hong Kong hosts over 1,400 fintech enterprises, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms, which have achieved notable results in advancing tokenization. Hui added that the Hong Kong Exchanges and Clearing (HKEX) is committed to launching a tokenized warehouse receipt financing pilot program next year. The project will partner with designated banks, utilizing distributed ledger technology, to facilitate the use of commodity warehouse receipts as collateral. Furthermore, HKEX is also developing a multi-asset tokenization platform that will include commodity warehouse receipts from approved warehouses.
11 minutes ago
South Korea's KOSPI index closed 0.3% higher, with SK Hynix gaining 4.41%.
According to Bitget's market data, South Korea's KOSPI index closed up 16.53 points on Friday, October 23, with a 0.3% gain, ending at 5550.3 points. SK Hynix closed 4.41% higher, while Samsung Electronics rose 0.46%.
11 minutes ago
He Yi reposted Binance's Agent wallet risk alert, warning of transaction risks associated with the Agent developer mode.
Jackson.ll (@0xOar), developer of Binance Wallet’s web version, posted today, stating: “Agent ID is being used in various ways, but users should also carefully check risk warnings. Enabling developer mode for the Agent means you can sign unverified contract transactions... Potential risks need attention. You can close the mode immediately after minting, or wait for products from verified developers.” He Yi subsequently retweeted the post. Earlier reports indicated that multiple minting projects exclusive to Binance Agent Wallet have recently emerged in the market, with some requiring developer mode activation.
A Circle shareholder has sued Donald Trump and World Liberty Financial ($WLFI) over a $2 billion Binance investment settled in the USD1 stablecoin by Abu Dhabi's MGX fund.
A Circle shareholder has filed a federal lawsuit against Donald Trump (@realDonaldTrump) and World Liberty Financial (@worldlibertyfi) $WLFI, challenging a $2 billion investment in Binance (@binance) made by an Abu Dhabi fund. The suit alleges the broader deals improperly benefited the US president.
What the complaint allegesJ. Benjamin Greenberg, a shareholder in Circle Internet Group and a former software engineer at the company, brought the case. , according to Bloomberg.
The complaint centres on two transactions tied to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser.
according to CNBC, as relayed by Quartz.
The suit also frames the matter as a competitive harm to Circle, the issuer of the $USDC stablecoin.
Responses from Circle, World Liberty and the White HouseCircle has distanced itself from the case.
On the White House side,
The case is The new case will test whether a shareholder claim built around stablecoin competition can fare differently.
Sources:
Bloomberg via Yahoo Finance: Trump and Crypto Firm Sued for Profiting From Foreign GovernmentQuartz: Circle shareholder sues Trump over $2 billion in UAE-linked crypto dealsCointelegraph: Circle shareholder sues Trump, World Liberty and Steve Witkoff over crypto deals
US spot Bitcoin ETFs bled $635 million on October 22, according to SoSoValue data reported by Odaily. That is a sharp reversal for a product category that had spent the previous few days collecting cash.
BlackRock’s iShares Bitcoin Trust (IBIT), the biggest name in the space, was the largest single source of the outflow. Investors pulled $254 million from the fund in one session.
A busy week in reverse The timing is what makes the number stand out. In the three days before October 22, these funds attracted more than $1 billion in combined inflows.
October 21 alone brought in approximately $528 million. Most of that came from the two heavyweights of the category.
IBIT took in $235 million that day. Fidelity’s Wise Origin Bitcoin Fund (FBTC) added $212.7 million.
Then the next day happened. IBIT’s $254 million outflow on October 22 was larger than its entire $235 million haul from the session before, which means the fund gave back a full day of gains plus about $19 million more.
With IBIT responsible for $254 million of the $635 million total, other issuers accounted for roughly $381 million in redemptions between them.
October has been choppy overall. Earlier in the month, certain stretches saw outflows reaching as high as $600 to $900 million, and mid-October brought only a modest uptick in flows before the late-week rally in demand.
The bigger picture since launch One rough day does not erase the longer trend. Cumulative net inflows into US spot Bitcoin ETFs since their January 2024 debut have now approached $57 to $58 billion.
Total net assets held across these funds are estimated at between $100 billion and $109 billion. That puts a $635 million day into perspective: meaningful, headline-worthy, but well under 1% of the asset base.
The Bitcoin price itself held a relatively steady range of $82,000 to $85,000 around this period. The research shows minimal direct correlation between the ETF flow figures and Bitcoin’s price during these swings.
What this means for investors For anyone tracking institutional demand, the key question is whether October 22 marks a turn or a blip. Earlier October buying has been read as a sign of resilient institutional appetite amid ongoing macroeconomic uncertainty.
The fact that Bitcoin stayed within its $82,000 to $85,000 band is arguably the more important data point. If $635 million in redemptions cannot push the price out of its range, it suggests there is enough buying elsewhere in the market to absorb that selling.
Watch whether cumulative inflows keep climbing toward and past the $57 to $58 billion mark, and whether total net assets hold within or above the $100 billion to $109 billion range.
When the two largest issuers move in the same direction, as they did on the inflow side on October 21, it tends to say more about broad institutional sentiment than scattered moves among smaller funds.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin Core is changing how it handles security vulnerabilities, explaining that large language models have made certain software flaws significantly easier to discover.
In an email to the Bitcoin Development Mailing List on Thursday, Bitcoin Core developer Antoine Poinsot said that in the past, vulnerabilities were generally kept under lengthy disclosure embargoes to give users time to upgrade before details became public.
Maintaining that secrecy generally meant fixes could not be backported to older software versions, leaving users waiting until the next major release. However, Poinsot said LLMs have made some flaws so easy to rediscover that delaying fixes offers little protection.
“The embargo period achieves little but it delays the availability of a fixed release,” said Poinsot. “We are therefore updating our policy disclosure to accommodate those.”
The change comes as AI-assisted security research puts pressure on developers across Bitcoin’s software ecosystem.
Under the updated policy, vulnerabilities deemed “easily discoverable” will receive fixes as soon as possible across all maintained major versions, with security advisories published alongside the updates.
“This classification applies to vulnerabilities that can be discovered with minimal effort, such as through a simple LLM prompt,” it said.
Other vulnerabilities will continue to follow disclosure schedules based on severity, ranging from critical flaws that threaten Bitcoin’s fundamental security to lower-risk bugs with limited impact on individual nodes.
Bitcoin Core said low-severity vulnerabilities will be disclosed two weeks after the release of a major version containing the fix, while medium and high vulnerabilities will be disclosed two weeks after the last affected release hits its “End of Life,” typically a year after the fix is released in the new major version.
“Critical bugs are not considered in the standard policy, as they would most likely require an ad-hoc procedure,” it said.
“I’ve disagreed with Antoine’s approach to security in the past, but this is a good update,” said Luke de Wolf, host of the Bitcoin Infinity Show and author of “Defending Bitcoin.”
In August, the volunteer Bitcoin Red Team reported nearly 5,000 potential issues across 390 projects, although only around a fifth of its findings had been reproduced at that point.
That month, Core Lightning developers urged operators to upgrade or take their nodes offline after receiving multiple AI-generated vulnerability reports, while withholding technical details for two weeks.
Magazine: New DeepSeek ban in US, Swiss-Asia crypto ties deepen: Asia Express
Bitcoin Core is changing how it handles security vulnerabilities, explaining that large language models have made certain software flaws significantly easier to discover.
In an email to the Bitcoin Development Mailing List on Thursday, Bitcoin Core developer Antoine Poinsot said that in the past, vulnerabilities were generally kept under lengthy disclosure embargoes to give users time to upgrade before details became public.
Maintaining that secrecy generally meant fixes could not be backported to older software versions, leaving users waiting until the next major release. However, Poinsot said LLMs have made some flaws so easy to rediscover that delaying fixes offers little protection.
“The embargo period achieves little but it delays the availability of a fixed release,” said Poinsot. “We are therefore updating our policy disclosure to accommodate those.”
The change comes as AI-assisted security research puts pressure on developers across Bitcoin’s software ecosystem.
Under the updated policy, vulnerabilities deemed “easily discoverable” will receive fixes as soon as possible across all maintained major versions, with security advisories published alongside the updates.
“This classification applies to vulnerabilities that can be discovered with minimal effort, such as through a simple LLM prompt,” it said.
Other vulnerabilities will continue to follow disclosure schedules based on severity, ranging from critical flaws that threaten Bitcoin’s fundamental security to lower-risk bugs with limited impact on individual nodes.
Bitcoin Core said low-severity vulnerabilities will be disclosed two weeks after the release of a major version containing the fix, while medium and high vulnerabilities will be disclosed two weeks after the last affected release hits its “End of Life,” typically a year after the fix is released in the new major version.
“Critical bugs are not considered in the standard policy, as they would most likely require an ad-hoc procedure,” it said.
“I’ve disagreed with Antoine’s approach to security in the past, but this is a good update,” said Luke de Wolf, host of the Bitcoin Infinity Show and author of “Defending Bitcoin.”
In August, the volunteer Bitcoin Red Team reported nearly 5,000 potential issues across 390 projects, although only around a fifth of its findings had been reproduced at that point.
That month, Core Lightning developers urged operators to upgrade or take their nodes offline after receiving multiple AI-generated vulnerability reports, while withholding technical details for two weeks.
Magazine: New DeepSeek ban in US, Swiss-Asia crypto ties deepen: Asia Express
The largest U.S. public pension fund has significantly reduced its holdings in the "Magnificent Seven" tech stocks, shifting to increase allocations to private equity.
According to a Financial Times report, CalPERS, the largest U.S. public pension fund (California Public Employees' Retirement System), is adjusting its asset allocation: cutting direct holdings of the "Magnificent Seven" tech giants while increasing exposure to private equity to reduce concentration risk in public equity investments. Calculations from regulatory filings show CalPERS will slash its direct holdings of stocks in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla by 26% in the first half of 2026. The fund is instead diversifying its portfolio across hundreds of companies, cutting concentrated bets on a small number of top firms. Anton Orlich, CalPERS' deputy chief investment officer, confirmed this allocation shift in an interview. He noted that public equity market valuations are already elevated, and concentration in a handful of leading companies is pressuring relative returns. In contrast, private companies offer more attractive pricing, helping CalPERS buffer against potential downturns in public markets. This rebalancing took place ahead of the recent tech stock sell-off. This week, multiple tech giants released earnings reports, stoking market concerns over whether AI spending can translate into tangible returns. Microsoft, Amazon, and Alphabet are set to report results next week, leaving the tech sector facing further tests. As of June 30, CalPERS' assets under management reached $637.1 billion. Data released by the fund in July showed its preliminary net investment return for the past 12 months was 14.8%, with both public and private equity portfolios performing strongly.
11 minutes ago
Hong Kong's Secretary for the Treasury: Hong Kong's tokenization initiative is advancing towards the implementation phase.
Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Hui Ching Yu, stated that Hong Kong’s tokenization development is transitioning from the "experimental phase" to the "implementation phase". Currently, Hong Kong hosts over 1,400 fintech enterprises, including 8 virtual banks, 4 virtual insurance companies, and 12 licensed virtual asset trading platforms, which have achieved notable results in advancing tokenization. Hui added that the Hong Kong Exchanges and Clearing (HKEX) is committed to launching a tokenized warehouse receipt financing pilot program next year. The project will partner with designated banks, utilizing distributed ledger technology, to facilitate the use of commodity warehouse receipts as collateral. Furthermore, HKEX is also developing a multi-asset tokenization platform that will include commodity warehouse receipts from approved warehouses.
11 minutes ago
South Korea's KOSPI index closed 0.3% higher, with SK Hynix gaining 4.41%.
According to Bitget's market data, South Korea's KOSPI index closed up 16.53 points on Friday, October 23, with a 0.3% gain, ending at 5550.3 points. SK Hynix closed 4.41% higher, while Samsung Electronics rose 0.46%.
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He Yi reposted Binance's Agent wallet risk alert, warning of transaction risks associated with the Agent developer mode.
Jackson.ll (@0xOar), developer of Binance Wallet’s web version, posted today, stating: “Agent ID is being used in various ways, but users should also carefully check risk warnings. Enabling developer mode for the Agent means you can sign unverified contract transactions... Potential risks need attention. You can close the mode immediately after minting, or wait for products from verified developers.” He Yi subsequently retweeted the post. Earlier reports indicated that multiple minting projects exclusive to Binance Agent Wallet have recently emerged in the market, with some requiring developer mode activation.
11 minutes ago
YuShu Technology, listed on China's A-share market, surges to its 20% daily limit, with its shares rising over 46% cumulatively this week.
Alliance Partner on a16z’s Shift: To Drive Crypto Talent to Build Cutting-Edge Technology
Imran, general partner at Alliance, took to X this morning to share his views on a16z crypto’s shift toward frontier technology sectors. He noted that a16z led Coinbase’s 2013 funding round via Chris Dixon, providing early validation for the crypto industry; Marc Andreessen’s 2014 New York Times op-ed, “Why Bitcoin Matters,” was a key factor in his decision to enter the Bitcoin space. At the time, few institutions and funds were willing to publicly back crypto, with a16z and USV standing out as two that took brand risk. Imran argued that the current development of AI infrastructure owes much to Bitcoin mining infrastructure and talent that has moved from crypto to AI. The shift to frontier technologies including robotics, biotech, AI, energy, and computing power means the talent and capabilities the crypto industry has built over the past decade can be applied to the broader frontier tech space. Citing data centers as an example, he noted that public and government pushback against data centers is growing, much like earlier resistance to crypto—yet today nearly all traditional financial institutions have embraced crypto to some extent. Yesterday’s news: a16z’s flagship blockchain fund will drop the “Crypto” moniker and rebrand as “a16z Frontier.”
CryptoQuant CEO Ki Young Ju has said that a potential bust in the artificial intelligence (AI) bubble could actually be largely harmless for Bitcoin (BTC).
According to the prominent crypto analyst, the leading cryptocurrency has largely failed to participate in the massive run-up in AI stock prices.
As a result, a steep correction in the AI space could be relatively harmless for Bitcoin.
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"I don't think an AI bubble burst would hurt BTC much," Ju said in a recent post on X.
He speculated that investors looking to profit from the AI boom may have already dumped their Bitcoin holdings to finance their AI stock investments.
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Now, as worries about the extent of AI overvaluations grow, the reverse rotation could be in play.
"Now it may be time to rotate back into Bitcoin," Ju wrote.
But he didn't want to be seen as claiming that an AI market crash would be bullish for the leading cryptocurrency.
"An AI crash isn't necessarily bullish or bearish for BTC. They seem unrelated," he added.
Why are investors worried about an AI bubble?The meteoric rise of artificial intelligence has spurred one of the biggest investment booms in modern technology.
In many ways, it's reminiscent of the dot-com era of the late 1990s.
Tech companies are spending hundreds of billions on data centers, top-notch chips, and increasingly sophisticated AI models.
Do these massive investments make sense? Skeptics say it's not clear whether the money will be able to generate enough revenue to make it all worth it.
AI companies have yet to prove that their business model is capable of producing impressive results on a consistent basis.
Moreover, the growing complexity of the AI industry is a significant concern.
There are technology companies that invest billions in AI developers, which in turn invest a lot of their own money in the form of computing infrastructure and services from the companies that have invested in them.
That being said, a burst of the AI bubble doesn't necessarily mean it's the death of AI technology.
For example, during the dot-com crash, a massive amount of speculative money was vaporized, but the internet continued to change the world economy.
Investors pulled $635.49 million from US spot Bitcoin (BTC) exchange-traded funds (ETFs) on October 22. The money left before BTC fell far enough to hit the level where ETF holders have historically sold hardest.
A day earlier, the same funds had taken in $528.40 million. New research from DWF Labs pins down that level, and BTC now trades close to it.
Bitcoin ETF Money Heads for the Door a Day After Pouring InThe October 22 outflow was the largest single-day withdrawal since June 25, according to SoSoValue. It ended a 3-day run of inflows worth about $1.08 billion.
That run began with $526.6 million on October 19, the funds’ biggest day since September 22. October’s net flows now stand at roughly $174.5 million in withdrawals.
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US spot Bitcoin ETF Daily Net Flows. Source: SoSoValueInvestors sold while BTC still traded above a level that new research ties to heavier ETF selling. DWF Labs, a crypto market maker, studied spot Bitcoin ETF flows since January 2024.
Its research found that selling picks up once BTC closes 7% below its 20-day high.
“ETF investors aren’t shaken by small dips, but once a fall reaches about 7%, they start selling,” the report read.
Average daily flows then swing from about $74 million in inflows to $72 million in outflows. Flows worsened in 19 of the 24 cases DWF examined.
Based on Binance daily closes, BTC ended October 22 about 5.9% below its October 4 high of $86,530. That puts the 7% threshold near $80,470.
DWF also found that ETF flows tend to follow price moves. Flows were still positive on the peak day at 7 of 8 market tops.
October’s flows moved the same way. Money arrived as BTC rallied into October 21, then left when the price fell.
Bitcoin Gives Back Its Rally as the 7% Line Starts to ShiftThe price told the same story. BTC dropped 3.41% over 24 hours to $81,297, per BeInCrypto Markets. The ETF flows tracked its price swings over the past week.
Based on Binance daily closes, BTC climbed from $82,245.93 on October 15 to $84,093.42 on October 21. The advance stalled near $85,000. BTC closed October 22 at $81,416.09, down 3.18% from the prior day’s close.
Bitcoin Price Chart. Source: BeInCrypto MarketsThe 7% threshold is also set to move. Once the October 4 high drops out of the 20-day window, the next reference point is October 5’s close of $85,766.87. That would lower the trigger to roughly $79,760, unless BTC closes above $85,766.87 first.
However, DWF’s data suggests such selling tends to fade. After past 7% breaks, flows hovered near zero the next week and turned positive the week after.
The firm noted its sample shows a clear pattern but not statistical proof. The next few closes will show whether ETF outflows deepen if BTC closes below that line.
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