Circle urges the European Commission to replace fixed bank deposit requirements in MiCA stablecoin rules with liquidity-based standards, citing risks exposed during the Silicon Valley Bank collapse that trapped $3.3 billion in USDC reserves. The proposal aligns with similar recommendations from the European Central Bank and seeks to remove the 30-60% deposit thresholds for regular and significant stablecoin issuers.
A New York federal judge dismissed a class action lawsuit against Meteora, former CEO Benjamin Chow, and Kelsier Ventures over fraud and racketeering claims tied to the LIBRA and M3M3 memecoin launches. The court found plaintiffs failed to establish Meteora as a legal entity capable of being sued, that Chow's actions did not demonstrate fraudulent intent, and that the alleged activity did not constitute a pattern of racketeering under RICO.
Forward Industries expanded its Solana treasury to 8.5 million SOL (worth ~$1 billion) by adding 948,601 tokens in fiscal Q4, funded partly through a $25 million stock offering. The company's SOL holdings now represent approximately 1.4% of Solana's circulating supply, with SOL trading near $122 in early October.
Federal Reserve Vice Chair Philip Jefferson signaled policymakers may pause rate hikes, with markets cutting October hike odds to 25%. Bitcoin could benefit if lower rate expectations pull Treasury yields down from above 5%, though Jefferson maintains inflation risks remain elevated.
SBI DigiTrust, NICE, and DSRV are testing stablecoin-based QR payments for Japanese travelers shopping at South Korean merchants, with results expected by December 2026. The trial examines payment flows, system integration, and commercial viability across NICE's network of roughly 1.2 million Korean merchants.
OKX launched QNT perpetual futures with up to 50x leverage as Quant token surged 178% weekly to near $249, driven by The Clearing House selecting Quant for its tokenized deposit settlement network. The token has pulled back 16% daily but remains significantly higher after rallying from below $100 in late September.
African businesses increasingly use stablecoins to address cross-border payment delays, dollar access challenges, and high settlement costs, according to Kora CEO Dickson Nsofor. Stablecoins enable faster transfers and reduce the need for multiple correspondent banks and currency conversions. However, reliance on foreign dollar-backed token issuers and local payout infrastructure remain key considerations for adoption.
XRP traded near $1.48 support as Evernorth's 473 million XRP treasury deal cleared shareholder voting, with technical analysts identifying $1.54 as a key breakout level. Price held above its 20-day moving average despite selling pressure indicated by negative Chaikin Money Flow.
The Drift Foundation opened DFX recovery claims for victims of its April 1 exploit, offering initial payouts of approximately 1% of verified losses through a redemption mechanism. Eligible users receive one DFX token per USDT of losses and can redeem tokens, retain them for future recovery funding, or trade them on Solana. Recovery funding comes from Velocity revenue, Tether support, and partner capital, with a Jan. 1, 2028 deadline for claims.
Federal Reserve Vice Chair Philip Jefferson signaled the Fed may need more time before raising rates again, causing market odds for an October hike to fall to 23% from 70% the previous week. Jefferson cited rising bond yields and the need for more economic data, while Goldman Sachs moved its forecast for the next rate increase to December.
Circle urges EU policymakers to revise MiCA's stablecoin rules, noting only 3 of the top 30 stablecoins (USDC, USDG, EURC) currently comply. The company proposes changes to cross-border issuance arrangements, reserve asset requirements, and recognition of foreign-regulated stablecoins, drawing on the U.S. GENIUS Act framework.
The TRUMP memecoin is offering 185 token holders seats at a November 22 dinner with President Donald Trump as the token has collapsed 97% from its January peak to $2.04. Nearly 989,000 wallets have recorded $3.81 billion in losses, while U.S. senators have called for an SEC investigation into the token and its financial arrangements.
The Netherlands is moving toward taxing unrealized cryptocurrency gains starting in 2028 under a revised Box 3 tax system that would levy taxes on annual price changes in Bitcoin and other digital assets even without sale, though a newer government proposal could shift taxation to realized gains instead.
Ghana's crypto market handles approximately $21 billion in annual transactions, ranking fifth in sub-Saharan Africa, with stablecoins driving growth in trading and cross-border settlement. Between 8% and 17% of Ghanaians have engaged in crypto trading, and regulators have established a new legal framework giving the Bank of Ghana and Securities and Exchange Commission joint oversight powers.
Tokenized real-world assets have surpassed $34 billion, with single stocks dominating onchain equity holdings at 81% of supply while generating 93% of spot trading volume in August. Investors exhibit distinct trading patterns onchain compared to traditional markets, favoring individual stocks over ETFs and using tokenized credit as collateral in DeFi protocols.
Chainalysis defeated most claims in a lawsuit by Celsius Network's litigation administrator but faces a surviving aiding-and-abetting case over a disputed $3.3 billion asset 'audit' from 2020. A U.S. judge dismissed 15 claims with prejudice while allowing one fiduciary-duty claim to proceed, ruling that allegations sufficiently showed Chainalysis knew statements were false and helped disseminate them.
The Bangko Sentral ng Pilipinas restricted DCPay Philippines' inbound transfer access, preventing Coins.ph users from adding pesos via InstaPay and PESONet bank transfers. Cash-outs and crypto operations remain functional, though the platform temporarily paused all peso movements to implement the regulatory order.
India led Central and Southeast Asia and Oceania in centralized crypto exchange inflows with $88.4 billion, ahead of Singapore and Australia, despite its overall crypto economy contracting 14.7% during the reporting period. Indian users primarily engage in buying, holding, and selling digital assets as investments, with domestic exchanges capturing only 0.7% of local trading volume compared to a regional average of 7%.
Zcash holders approved $8.39 million in retroactive grants, including $1.5 million for researcher Taylor Hornby's discovery of a critical Orchard vulnerability during an AI-assisted security audit. With 2.18 million ZEC (10.4% of supply) participating in the vote, ZEC traded near $1,400 as the network funded 17 of 37 proposals focused on security work and protocol development.
The Japanese yen weakened past 158 per dollar after traders reduced expectations for a Bank of Japan rate hike in October, keeping yen carry trades attractive but risking another sudden reversal that could impact Bitcoin and crypto markets, similar to the August 2024 unwind.