[Aave proposes V3.8 security upgrade for 16 networks]
Aave has proposed a V3.8 upgrade to add reentrancy attack protections to pool accounting processes across 16 networks, CoinDesk reported. The move is aimed at preventing potential security risks, with a formal security audit and governance vote ahead.
https://coinness.com/en/news/1172622
Aave has proposed a V3.8 upgrade to add reentrancy attack protections to pool accounting processes across 16 networks, CoinDesk reported. The move is aimed at preventing potential security risks, with a formal security audit and governance vote ahead.
https://coinness.com/en/news/1172622
CoinNess
Aave proposes V3.8 security upgrade for 16 networks - CoinNess
Aave has proposed a V3.8 upgrade to add reentrancy attack protections to pool accounting processes across 16 networks, CoinDesk reported. The move is aimed at p...
[South Korea’s FSC chief to review tokenized securities trading via crypto exchanges]
South Korea’s Financial Services Commission Chairman Lee Eog-weon said authorities will review whether tokenized securities could be traded using the technology and infrastructure of digital asset exchanges, Edaily reported.
Speaking at a comprehensive parliamentary audit session of the National Policy Committee in Seoul on Oct. 22, Lee said he agreed with the idea’s broader intent after Democratic Party lawmaker Lee Kang-il asked about using digital asset exchange infrastructure for tokenized securities trading. Lee added authorities would also examine market conditions, investor protection, whether licensing units should be integrated, and how to handle concurrent business operations.
https://coinness.com/en/news/1172623
See more: https://www.edaily.co.kr/News/Read?newsId=05451366645615544&mediaCodeNo=257&utm_source=naver&utm_medium=referral&utm_campaign=news_syndication&utm_content=original_article
South Korea’s Financial Services Commission Chairman Lee Eog-weon said authorities will review whether tokenized securities could be traded using the technology and infrastructure of digital asset exchanges, Edaily reported.
Speaking at a comprehensive parliamentary audit session of the National Policy Committee in Seoul on Oct. 22, Lee said he agreed with the idea’s broader intent after Democratic Party lawmaker Lee Kang-il asked about using digital asset exchange infrastructure for tokenized securities trading. Lee added authorities would also examine market conditions, investor protection, whether licensing units should be integrated, and how to handle concurrent business operations.
https://coinness.com/en/news/1172623
See more: https://www.edaily.co.kr/News/Read?newsId=05451366645615544&mediaCodeNo=257&utm_source=naver&utm_medium=referral&utm_campaign=news_syndication&utm_content=original_article
CoinNess
South Korea’s FSC chief to review tokenized securities trading via crypto exchanges - CoinNess
South Korea’s Financial Services Commission Chairman Lee Eog-weon said authorities will review whether tokenized securities could be traded using the technolo...
[Anonymous whale sells $20.6M in BTC, buys ETH]
An anonymous whale sold an additional 246.25 BTC worth $20.64 million and bought 8,286 ETH, according to Lookonchain. Over the past 11 days, the whale has sold 1,917.7 BTC worth $159 million and purchased 64,545 ETH worth $155 million.
https://coinness.com/en/news/1172624
An anonymous whale sold an additional 246.25 BTC worth $20.64 million and bought 8,286 ETH, according to Lookonchain. Over the past 11 days, the whale has sold 1,917.7 BTC worth $159 million and purchased 64,545 ETH worth $155 million.
https://coinness.com/en/news/1172624
CoinNess
Anonymous whale sells $20.6M in BTC, buys ETH - CoinNess
An anonymous whale sold an additional 246.25 BTC worth $20.64 million and bought 8,286 ETH, according to Lookonchain. Over the past 11 days, the whale has sold ...
[CoinDCX denies hack allegations tied to wallet stolen in July 2025]
Indian cryptocurrency exchange CoinDCX denied recent hack allegations, saying the latest on-chain activity was linked to a wallet stolen during a hack in July 2025 and has no connection to the exchange now, Cointelegraph reported.
Earlier, Darcy, co-founder of blockchain security firm Salus, said CoinDCX appeared to have lost about $16 million in USDT.
https://coinness.com/en/news/1172625
Indian cryptocurrency exchange CoinDCX denied recent hack allegations, saying the latest on-chain activity was linked to a wallet stolen during a hack in July 2025 and has no connection to the exchange now, Cointelegraph reported.
Earlier, Darcy, co-founder of blockchain security firm Salus, said CoinDCX appeared to have lost about $16 million in USDT.
https://coinness.com/en/news/1172625
CoinNess
CoinDCX denies hack allegations tied to wallet stolen in July 2025 - CoinNess
Indian cryptocurrency exchange CoinDCX denied recent hack allegations, saying the latest on-chain activity was linked to a wallet stolen during a hack in July 2...
[Starknet community backs study of independent L1 transition]
Starknet, an Ethereum layer-two network, will examine a potential transition to an independent layer-one blockchain as it prepares for possible quantum-computing attacks, The Block reported.
More than 93.5% of total voting power supported studying the proposal in a seven-day community vote, with more than 2,800 wallets participating. Starknet developer StarkWare plans to release a draft white paper on the topic in November, according to the report. Whether Starknet actually shifts to L1 will be decided through an additional governance vote. StarkWare is aiming to build a security framework capable of responding to quantum-computing attacks by 2027. STRK would remain the native token even if the transition goes ahead, and there are no plans to issue a new token.
https://coinness.com/en/news/1172626
Starknet, an Ethereum layer-two network, will examine a potential transition to an independent layer-one blockchain as it prepares for possible quantum-computing attacks, The Block reported.
More than 93.5% of total voting power supported studying the proposal in a seven-day community vote, with more than 2,800 wallets participating. Starknet developer StarkWare plans to release a draft white paper on the topic in November, according to the report. Whether Starknet actually shifts to L1 will be decided through an additional governance vote. StarkWare is aiming to build a security framework capable of responding to quantum-computing attacks by 2027. STRK would remain the native token even if the transition goes ahead, and there are no plans to issue a new token.
https://coinness.com/en/news/1172626
CoinNess
Starknet community backs study of independent L1 transition - CoinNess
Starknet, an Ethereum layer-two network, will examine a potential transition to an independent layer-one blockchain as it prepares for possible quantum-computin...
[$431M in crypto futures liquidated over 24 hours amid BTC volatility]
About $431 million in positions was forcibly liquidated across the crypto futures market over the past 24 hours as Bitcoin neared $85,000 before plunging to around $81,800, CoinDesk reported, citing CoinGlass. During BTC’s rise, around $173 million in short positions was liquidated, while after the market turned lower, $210 million of the $222 million liquidated over the past 12 hours came from long positions.
https://coinness.com/en/news/1172627
About $431 million in positions was forcibly liquidated across the crypto futures market over the past 24 hours as Bitcoin neared $85,000 before plunging to around $81,800, CoinDesk reported, citing CoinGlass. During BTC’s rise, around $173 million in short positions was liquidated, while after the market turned lower, $210 million of the $222 million liquidated over the past 12 hours came from long positions.
https://coinness.com/en/news/1172627
CoinNess
$431M in crypto futures liquidated over 24 hours amid BTC volatility - CoinNess
About $431 million in positions was forcibly liquidated across the crypto futures market over the past 24 hours as Bitcoin neared $85,000 before plunging to aro...
[Solana-based stablecoins top $5T in year-to-date transfer volume]
Solana-based stablecoins have surpassed $5 trillion in cumulative transfer volume this year through Oct. 22, Crypto Briefing reported, citing Solana’s official account. In September, stablecoin supply on Solana reached a record $17.51 billion, while monthly stablecoin transfers totaled 557 million, the highest among major blockchains.
https://coinness.com/en/news/1172628
Solana-based stablecoins have surpassed $5 trillion in cumulative transfer volume this year through Oct. 22, Crypto Briefing reported, citing Solana’s official account. In September, stablecoin supply on Solana reached a record $17.51 billion, while monthly stablecoin transfers totaled 557 million, the highest among major blockchains.
https://coinness.com/en/news/1172628
CoinNess
Solana-based stablecoins top $5T in year-to-date transfer volume - CoinNess
Solana-based stablecoins have surpassed $5 trillion in cumulative transfer volume this year through Oct. 22, Crypto Briefing reported, citing Solana’s officia...
[CertiK estimates $820K loss from hack targeting BNB Chain-based NEM token]
Blockchain security firm CertiK said an attack exploiting a smart contract vulnerability in the BNB Chain-based NEM token caused about $820,000 in losses. The hacker targeted the NEM/USDT liquidity pool on decentralized exchange PancakeSwap, exploiting a flaw that treated tokens sent to the pool as sell orders regardless of whether an actual sale took place.
https://coinness.com/en/news/1172629
Blockchain security firm CertiK said an attack exploiting a smart contract vulnerability in the BNB Chain-based NEM token caused about $820,000 in losses. The hacker targeted the NEM/USDT liquidity pool on decentralized exchange PancakeSwap, exploiting a flaw that treated tokens sent to the pool as sell orders regardless of whether an actual sale took place.
https://coinness.com/en/news/1172629
CoinNess
CertiK estimates $820K loss from hack targeting BNB Chain-based NEM token - CoinNess
Blockchain security firm CertiK said an attack exploiting a smart contract vulnerability in the BNB Chain-based NEM token caused about $820,000 in losses. The h...
[BTC could fall to mid-$70K range if it loses $81K support]
Bitcoin is retesting the area around $81,000, the average cost basis for spot ETF investors, on-chain analytics firm Glassnode said on X.
Glassnode said the price level acted as resistance that capped BTC’s rally in May, while last week it helped trigger a rebound after a brief pullback. The firm added that if BTC posts a clear close below $81,000, it could see a further decline into the mid-$70,000 range.
https://coinness.com/en/news/1172630
Bitcoin is retesting the area around $81,000, the average cost basis for spot ETF investors, on-chain analytics firm Glassnode said on X.
Glassnode said the price level acted as resistance that capped BTC’s rally in May, while last week it helped trigger a rebound after a brief pullback. The firm added that if BTC posts a clear close below $81,000, it could see a further decline into the mid-$70,000 range.
https://coinness.com/en/news/1172630
CoinNess
BTC could fall to mid-$70K range if it loses $81K support - CoinNess
Bitcoin is retesting the area around $81,000, the average cost basis for spot ETF investors, on-chain analytics firm Glassnode said on X. Glassnode said the pr...
[BTC faces risk of repeating past market pattern, Bloomberg analyst says]
Bitcoin could face a key risk from a repeat of past market patterns through the end of this year, Bloomberg senior analyst Mike McGlone said, adding that markets should pay close attention to the long-term effects of post-inflation deflation. McGlone said President Donald Trump benefited politically in the 2024 election after shifting from a crypto skeptic to a supporter, while a related chart suggests ties formed with the crypto industry at the time could come under strain.
https://coinness.com/en/news/1172631
Bitcoin could face a key risk from a repeat of past market patterns through the end of this year, Bloomberg senior analyst Mike McGlone said, adding that markets should pay close attention to the long-term effects of post-inflation deflation. McGlone said President Donald Trump benefited politically in the 2024 election after shifting from a crypto skeptic to a supporter, while a related chart suggests ties formed with the crypto industry at the time could come under strain.
https://coinness.com/en/news/1172631
CoinNess
BTC faces risk of repeating past market pattern, Bloomberg analyst says - CoinNess
Bitcoin could face a key risk from a repeat of past market patterns through the end of this year, Bloomberg senior analyst Mike McGlone said, adding that market...
[Ki Young Ju says continued fresh capital into BTC makes another bear market unlikely]
Bitcoin’s realized cap has been rising since around Aug. 19, when the price rebound began, indicating fresh capital inflows and leaving little reason to expect another bear market, CryptoQuant CEO Ki Young Ju said.
Ju said stablecoin issuance does not necessarily lead to BTC buying, and funds flowing into futures exchanges can also coincide with falling prices as exchanges may need to secure liquidity to settle profitable positions. While stablecoin liquidity remains important over the long term, the more important question now is who is buying and who is selling, Ju said. Realized cap confirms new money is entering the market, while existing whales have stopped selling, miners are increasing production and sentiment in traditional financial markets remains positive, according to Ju.
https://coinness.com/en/news/1172632
Bitcoin’s realized cap has been rising since around Aug. 19, when the price rebound began, indicating fresh capital inflows and leaving little reason to expect another bear market, CryptoQuant CEO Ki Young Ju said.
Ju said stablecoin issuance does not necessarily lead to BTC buying, and funds flowing into futures exchanges can also coincide with falling prices as exchanges may need to secure liquidity to settle profitable positions. While stablecoin liquidity remains important over the long term, the more important question now is who is buying and who is selling, Ju said. Realized cap confirms new money is entering the market, while existing whales have stopped selling, miners are increasing production and sentiment in traditional financial markets remains positive, according to Ju.
https://coinness.com/en/news/1172632
CoinNess
Ki Young Ju says continued fresh capital into BTC makes another bear market unlikely - CoinNess
Bitcoin’s realized cap has been rising since around Aug. 19, when the price rebound began, indicating fresh capital inflows and leaving little reason to expec...
[U.S. OCC drops curbs on third-party stablecoin rewards in GENIUS Act rule]
The U.S. Office of the Comptroller of the Currency removed a provision from the final rule for the GENIUS Act that had sought, in principle, to limit third-party stablecoin reward offerings, CoinDesk reported. Banks raised concerns the move could trigger deposit outflows, while the crypto industry viewed it as a positive step. The OCC has not yet presented detailed regulatory standards and plans to assess related matters on a case-by-case basis.
https://coinness.com/en/news/1172633
The U.S. Office of the Comptroller of the Currency removed a provision from the final rule for the GENIUS Act that had sought, in principle, to limit third-party stablecoin reward offerings, CoinDesk reported. Banks raised concerns the move could trigger deposit outflows, while the crypto industry viewed it as a positive step. The OCC has not yet presented detailed regulatory standards and plans to assess related matters on a case-by-case basis.
https://coinness.com/en/news/1172633
CoinNess
U.S. OCC drops curbs on third-party stablecoin rewards in GENIUS Act rule - CoinNess
The U.S. Office of the Comptroller of the Currency removed a provision from the final rule for the GENIUS Act that had sought, in principle, to limit third-part...
[a16z drops 'crypto' from flagship blockchain fund name]
Andreessen Horowitz, or a16z, plans to remove “crypto” from the name of its flagship blockchain fund and broaden its investment scope into other sectors, Unfolded reported. One of the firm’s early founding members is also expected to leave the company.
https://coinness.com/en/news/1172634
Andreessen Horowitz, or a16z, plans to remove “crypto” from the name of its flagship blockchain fund and broaden its investment scope into other sectors, Unfolded reported. One of the firm’s early founding members is also expected to leave the company.
https://coinness.com/en/news/1172634
CoinNess
a16z drops 'crypto' from flagship blockchain fund name - CoinNess
Andreessen Horowitz, or a16z, plans to remove “crypto” from the name of its flagship blockchain fund and broaden its investment scope into other sectors, Un...
[Crypto market awaits fresh upside catalyst, CoinDesk says]
Bitcoin is moving increasingly in line with stocks as the crypto market waits for a new upside catalyst, CoinDesk said.
The outlet said the period when cryptocurrencies consistently outperformed other assets has passed, with correlation to the stock market rising recently. CoinDesk added global macroeconomic conditions still remain a key market variable, while BTC scarcity could serve as a defensive factor during instability in global equities. It also cautioned that spot Bitcoin ETF buying has yet to stabilize, saying sustained ETF inflows are needed to confirm a clear recovery trend.
https://coinness.com/en/news/1172635
Bitcoin is moving increasingly in line with stocks as the crypto market waits for a new upside catalyst, CoinDesk said.
The outlet said the period when cryptocurrencies consistently outperformed other assets has passed, with correlation to the stock market rising recently. CoinDesk added global macroeconomic conditions still remain a key market variable, while BTC scarcity could serve as a defensive factor during instability in global equities. It also cautioned that spot Bitcoin ETF buying has yet to stabilize, saying sustained ETF inflows are needed to confirm a clear recovery trend.
https://coinness.com/en/news/1172635
CoinNess
Crypto market awaits fresh upside catalyst, CoinDesk says - CoinNess
Bitcoin is moving increasingly in line with stocks as the crypto market waits for a new upside catalyst, CoinDesk said. The outlet said the period when cryptoc...
[Irish central bank fines Coinbase unit $3.6M over client fund safeguards]
Ireland’s central bank has fined Coinbase’s local subsidiary 3.25 million euros ($3.6 million) for breaches tied to client fund protection obligations, Reuters reported.
The regulator said the subsidiary relied excessively on Coinbase Group in the U.S. for client fund safeguarding operations and had deficiencies in its oversight framework for outsourced work. It also said flaws in system design and insufficient internal control reviews left dedicated client fund protection accounts underfunded for an extended period.
https://coinness.com/en/news/1172636
Ireland’s central bank has fined Coinbase’s local subsidiary 3.25 million euros ($3.6 million) for breaches tied to client fund protection obligations, Reuters reported.
The regulator said the subsidiary relied excessively on Coinbase Group in the U.S. for client fund safeguarding operations and had deficiencies in its oversight framework for outsourced work. It also said flaws in system design and insufficient internal control reviews left dedicated client fund protection accounts underfunded for an extended period.
https://coinness.com/en/news/1172636
CoinNess
Irish central bank fines Coinbase unit $3.6M over client fund safeguards - CoinNess
Ireland’s central bank has fined Coinbase’s local subsidiary 3.25 million euros ($3.6 million) for breaches tied to client fund protection obligations, Reut...
[Bybit secures official approval to operate crypto exchange in Dubai]
Bybit has officially obtained regulatory approval to operate its business in Dubai, Watcher Guru reported.
https://coinness.com/en/news/1172637
Bybit has officially obtained regulatory approval to operate its business in Dubai, Watcher Guru reported.
https://coinness.com/en/news/1172637
CoinNess
Bybit secures official approval to operate crypto exchange in Dubai - CoinNess
Bybit has officially obtained regulatory approval to operate its business in Dubai, Watcher Guru reported.
[SoFi launches SOFIE deposit token with 4.4% annual yield and FDIC coverage]
U.S. financial services firm SoFi has launched SOFIE, a deposit token product that pays 4.4% annual interest, The Block reported. According to SoFi, this is the first time a U.S. national bank has directly offered tokenized deposits to retail customers.
SOFIE is valued at $1 per token, and customers can convert it one-to-one into SoFi’s stablecoin, SoFiUSD, to buy cryptocurrencies or transfer funds to external wallets. Deposits continue to earn interest until conversion and are protected by the U.S. Federal Deposit Insurance Corp. within statutory limits.
https://coinness.com/en/news/1172638
U.S. financial services firm SoFi has launched SOFIE, a deposit token product that pays 4.4% annual interest, The Block reported. According to SoFi, this is the first time a U.S. national bank has directly offered tokenized deposits to retail customers.
SOFIE is valued at $1 per token, and customers can convert it one-to-one into SoFi’s stablecoin, SoFiUSD, to buy cryptocurrencies or transfer funds to external wallets. Deposits continue to earn interest until conversion and are protected by the U.S. Federal Deposit Insurance Corp. within statutory limits.
https://coinness.com/en/news/1172638
CoinNess
SoFi launches SOFIE deposit token with 4.4% annual yield and FDIC coverage - CoinNess
U.S. financial services firm SoFi has launched SOFIE, a deposit token product that pays 4.4% annual interest, The Block reported. According to SoFi, this is the...
[Dune launches real-time data across 200-plus onchain trading platforms]
Crypto data analytics firm Dune has launched a real-time market data service to meet growing demand for tokenization and onchain trading, The Block reported. The new spot data feed provides related data about one second after trades are executed and supports more than 200 onchain trading platforms across 12 networks, including Solana (SOL), Ethereum (ETH), Base, BNB Chain and X Layer. Its perpetual futures data service will use trading data from Hyperliquid (HYPE) and Lyra.
https://coinness.com/en/news/1172639
Crypto data analytics firm Dune has launched a real-time market data service to meet growing demand for tokenization and onchain trading, The Block reported. The new spot data feed provides related data about one second after trades are executed and supports more than 200 onchain trading platforms across 12 networks, including Solana (SOL), Ethereum (ETH), Base, BNB Chain and X Layer. Its perpetual futures data service will use trading data from Hyperliquid (HYPE) and Lyra.
https://coinness.com/en/news/1172639
CoinNess
Dune launches real-time data across 200-plus onchain trading platforms - CoinNess
Crypto data analytics firm Dune has launched a real-time market data service to meet growing demand for tokenization and onchain trading, The Block reported. Th...
[Home invasion targeting crypto in France injures couple in their 60s]
A home invasion robbery targeting cryptocurrency took place in Mont-de-Marsan in France’s Landes department, local media reported. Three masked suspects allegedly broke into the home of a couple in their 60s, threatened them for cryptocurrency and tied them up. During the attack, the 63-year-old husband suffered a head injury, and the suspects fled with a laptop and mobile phones.
Police are investigating whether the case may be linked to the couple’s son, who works in the cryptocurrency industry, according to the report. The son is currently under police protection, and the three suspects have not yet been arrested.
https://coinness.com/en/news/1172640
A home invasion robbery targeting cryptocurrency took place in Mont-de-Marsan in France’s Landes department, local media reported. Three masked suspects allegedly broke into the home of a couple in their 60s, threatened them for cryptocurrency and tied them up. During the attack, the 63-year-old husband suffered a head injury, and the suspects fled with a laptop and mobile phones.
Police are investigating whether the case may be linked to the couple’s son, who works in the cryptocurrency industry, according to the report. The son is currently under police protection, and the three suspects have not yet been arrested.
https://coinness.com/en/news/1172640
CoinNess
Home invasion targeting crypto in France injures couple in their 60s - CoinNess
A home invasion robbery targeting cryptocurrency took place in Mont-de-Marsan in France’s Landes department, local media reported. Three masked suspects alleg...
[Travala expands AVA buyback program]
Crypto-based travel booking platform Travala announced a program to increase its AVA buybacks in line with monthly rewards for AVA Smart members. If monthly member rewards reach $100,000, $150,000, $200,000 or $250,000, Travala said its buybacks will rise proportionally. The total buyback size is estimated to reach as much as four times the member rewards.
https://coinness.com/en/news/1172641
Crypto-based travel booking platform Travala announced a program to increase its AVA buybacks in line with monthly rewards for AVA Smart members. If monthly member rewards reach $100,000, $150,000, $200,000 or $250,000, Travala said its buybacks will rise proportionally. The total buyback size is estimated to reach as much as four times the member rewards.
https://coinness.com/en/news/1172641
CoinNess
Travala expands AVA buyback program - CoinNess
Crypto-based travel booking platform Travala announced a program to increase its AVA buybacks in line with monthly rewards for AVA Smart members. If monthly mem...
[Ethereum researchers propose cutting transaction finality time from 16 minutes to 4]
Ethereum researchers have proposed cutting transaction finality time from about 16 minutes to four, a change expected to reduce liquidity needs and related costs for cross-chain fund transfers, CoinDesk reported.
Five researchers, including Ethereum researcher Ben Edgington, submitted a draft Ethereum Improvement Proposal on Oct. 21. The initial goal is to make finality four times faster, although the proposal remains at the design stage and no detailed rollout timeline has been set.
Under Ethereum’s current system, a transaction can be included in a block but still take about 16 minutes to reach finality. As a result, cross-chain transfer services that front users funds must keep their own capital locked up until the transaction is finalized. If a service advances $10,000, for example, the same amount of liquidity remains tied up until final settlement.
The researchers said shorter finality times could ease that capital burden. For a service advancing $1 million per hour, funds tied up while waiting for transaction finality would fall to about $67,000 from about $267,000, as faster finality would shorten the cycle for providers to recover and reuse fronted capital.
https://coinness.com/en/news/1172642
Ethereum researchers have proposed cutting transaction finality time from about 16 minutes to four, a change expected to reduce liquidity needs and related costs for cross-chain fund transfers, CoinDesk reported.
Five researchers, including Ethereum researcher Ben Edgington, submitted a draft Ethereum Improvement Proposal on Oct. 21. The initial goal is to make finality four times faster, although the proposal remains at the design stage and no detailed rollout timeline has been set.
Under Ethereum’s current system, a transaction can be included in a block but still take about 16 minutes to reach finality. As a result, cross-chain transfer services that front users funds must keep their own capital locked up until the transaction is finalized. If a service advances $10,000, for example, the same amount of liquidity remains tied up until final settlement.
The researchers said shorter finality times could ease that capital burden. For a service advancing $1 million per hour, funds tied up while waiting for transaction finality would fall to about $67,000 from about $267,000, as faster finality would shorten the cycle for providers to recover and reuse fronted capital.
https://coinness.com/en/news/1172642
CoinNess
Ethereum researchers propose cutting transaction finality time from 16 minutes to 4 - CoinNess
Ethereum researchers have proposed cutting transaction finality time from about 16 minutes to four, a change expected to reduce liquidity needs and related cost...