[Anchorpoint weighs consumer stablecoin launch on public blockchain]

Anchorpoint, a stablecoin issuance joint venture led by Standard Chartered’s Hong Kong unit, is pursuing a consumer stablecoin built on a public blockchain, the South China Morning Post reported.

Anchorpoint launched an institutional product in August and had previously said a consumer offering could debut as early as later this year, although a specific launch date has not been set. CEO Dominic Maffei said the goal is to use stablecoins for everyday payments and corporate commerce while linking them to existing payment infrastructure. Maffei added there are multiple considerations for a consumer product and Anchorpoint will not rush the launch.

The company is also pursuing a model of serving retail customers through corporate partners and sees cross-border remittances as a key use case. Separately, HSBC launched its Hong Kong dollar-based stablecoin 'HSBC RedCoin' on Oct. 23.
https://coinness.com/en/news/1172873

[Anonymous entity deposits $45.4M in AAVE, WLD and ETH to exchanges over 2 days]

Anonymous addresses believed to be tied to an institution that invested in AAVE and Worldcoin deposited $45.38 million worth of WLD, ETH and AAVE to exchanges over two days, according to EmberCN. The entity cumulatively deposited 35.1 million WLD worth $17.06 million, 6,000 ETH worth $14.4 million and 97,000 AAVE worth $13.92 million. EmberCN added that exchange deposits are typically interpreted as intended for selling.

Following the deposits, WLD fell to $0.46 from $0.51, while AAVE dropped to $137 from $147, EmberCN said.
https://coinness.com/en/news/1172874

[Jordi Visser rejects Chamath’s claim that Bitcoin will become worthless]

Wall Street investor Jordi Visser pushed back on Chamath Palihapitiya’s claim that Bitcoin could eventually be hacked and see its value fall to zero, calling the argument far-fetched, according to Stocktwits.

Stocktwits said Palihapitiya, a former Facebook executive, had argued earlier that Bitcoin would need stronger cryptography to maintain security, but internal divisions within the community would make that difficult to achieve. Visser said Bitcoin’s future security risks should be taken seriously, but there is still seven years to respond, and banks’ entry into the cryptocurrency market has created an economic incentive to address Bitcoin security issues quickly.
https://coinness.com/en/news/1172875

[California opposes SEC easing of crypto fundraising rules]

California’s financial regulator has opposed the U.S. SEC’s proposed easing of crypto fundraising rules, arguing the changes could weaken investor protections, Bitcoin.com reported.

The California Department of Financial Protection and Innovation submitted a comment letter to the SEC last week and said the proposed Regulation Crypto Assets could limit state authorities’ power to conduct advance reviews of investment products. DFPI Commissioner KC Mohseni said California supports innovation and entrepreneurship, but cannot accept efforts by a federal regulator to weaken its own oversight while undermining state authority and investor safeguards.
https://coinness.com/en/news/1172876

[Lido launches new module supporting validator staking of up to 2,048 ETH]

Ethereum staking protocol Lido has launched a new version of its Community Staking Module, or CSM, allowing independent operators to run validators with up to 2,048 ETH, CryptoSlate reported.

The module is permissionless, and operators must post 32 ETH as collateral for the first validator and 30 ETH for each additional validator. Lido separately supplies the staking funds, allowing a validator’s effective balance to increase to as much as 2,048 ETH.

Lido estimated capital efficiency could reach around 2.18x to 2.26x compared with solo staking once the effective balance hits the maximum and staking rewards on the operator’s collateral are included. Initially, Lido plans to allocate 32 ETH each to around 32 validators and then seek to raise the funding allocation cap once they are activated. Additional allocations, however, will depend on factors including fund inflows.

As of Oct. 25, the Ethereum network had 1,295,748 ETH waiting to enter staking, with an estimated wait time of 22 days and 23 hours.
https://coinness.com/en/news/1172877

[PPP vice chair urges government to confirm crypto tax delay]

Park Soo-young, vice chair of the ruling People Power Party’s policy committee, urged the government to confirm a delay to virtual asset taxation and first overhaul the systems and institutions needed to enforce the tax.

In a Facebook post published today, Park said investors, many of them young people, were not trying to evade taxes but were asserting their right as taxpayers to pay fairly under a completed system and framework. Park added that, according to a survey by Park’s office, the five major exchanges had exchanged official documents with South Korea’s National Tax Service 49 times but still had not built the necessary system. Park called on the government and the ruling Democratic Party to immediately confirm a tax delay and first put proper systems and institutions in place.
https://coinness.com/en/news/1172878
See more: https://www.facebook.com/share/p/1DXBSvYqS9/

[Galaxy Research says random BTC text likely tool test, not hidden message]

Galaxy Research said random strings recorded about 40 times a day on the Bitcoin network over the past three weeks were likely test output from a data-posting tool rather than encrypted messages.

In a post on X, Galaxy Research said its analysis of 562 strings found each of the 26 letters appeared at a nearly even frequency of 3.6% to 4.2%, with no statistical traits typically seen in ciphertext. Transaction records also suggested a bot, rather than a human, wrote the strings at regular intervals, it said.

Galaxy Research added that tracing the BTC used by the bot linked it to a wallet that inscribed the full U.S. Constitution on the Bitcoin network on May 29. The operator also inscribed the Declaration of Independence, random strings, words in multiple languages and test JSON files, according to the firm. It said a total of 0.033 BTC was used for the records, with about 24% spent on mining fees and the remaining 76% still held at related addresses. No funds were sent to outside parties.

Galaxy Research said the series of records was more likely part of testing a data-publishing tool on the Bitcoin mainnet than an attempt to convey a specific message.
https://coinness.com/en/news/1172879

[Seoul mayor vows broader support, investment links for AI, blockchain and digital assets]

Seoul Mayor Oh Se-hoon said advanced technologies such as artificial intelligence, blockchain and digital assets are breaking down the boundaries of financial services, while fintech is becoming a key driver shaping the future of the financial industry.

Oh said the Seoul city government will expand support and investment links so financial companies and fintech firms can apply new technologies in real-world financial settings and further develop them, Edaily reported. Speaking in a congratulatory address at the conference titled AX-based Digital Finance Transformation: Finance That Knows Me, held today, Oh added that the competitiveness of a financial city is not determined solely by the scale of capital and that an ecosystem attracting technology, talent and innovative companies is more important.
https://coinness.com/en/news/1172880
See more: https://www.edaily.co.kr/News/Read?newsId=02555126645616856&mediaCodeNo=257&utm_source=naver&utm_medium=referral&utm_campaign=news_syndication&utm_content=original_article

[Ducat to wind down protocol, begin holder redemptions]

Bitcoin-based stablecoin protocol Ducat announced on its official X account that it will gradually shut down operations and start user redemptions.

Ducat said its designed price-floor maintenance mechanism did not function as intended. The protocol added that each DUCAT will be eligible for a proportional distribution of treasury assets, while all deposited assets can be returned regardless of lockup periods. Ducat also said it has completed a snapshot of current holders, and addresses included in the snapshot can redeem DUCAT from the treasury.
https://coinness.com/en/news/1172881

[Anonymous whale deposits $37.8M in HYPE to Coinbase]

Three addresses believed to belong to the same whale deposited 494,310 HYPE worth $37.83 million to Coinbase over the past 24 hours, according to Lookonchain. Exchange deposits are typically interpreted as a sign of intent to sell.
https://coinness.com/en/news/1172882

[BTC could find next support at $75K if it breaks below $79K]

Jack Yi, founder of crypto-focused investment firm LD Capital, said on X that Yi had consistently warned over the past month about the possibility of a Bitcoin correction.

Yi said BTC had successively lost support at $82,000 and $80,000 and was now nearing a break below $79,000. If that level also fails, Yi expects the next major support at $75,000, followed by $71,000. Yi added that the previous view remains unchanged that $57,000, recorded earlier, marked the final bottom of the current bear market. Yi said it is still difficult to identify the exact timing for buying the dip, but the focus should now shift to looking for low-price entry opportunities as market conditions continue to change.
https://coinness.com/en/news/1172883

[24-hour crypto futures liquidations]

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours:
- BTC: $31.4 million liquidated (83.69% longs)
- ETH: $39.89 million liquidated (77.34% longs)
- ZEC: $4.51 million liquidated (50.5% shorts)
https://coinness.com/en/news/1172884

[Musk says X to add $1 transfer feature via long-press on like button]

Elon Musk, Tesla’s CEO, said X, formerly Twitter, will add a feature that lets users send $1 to another user through X Money by long-pressing the like button. Musk did not mention cryptocurrency.

The update follows a comment in August from former X head of product Nikita Bier, who said the platform would soon introduce a feature allowing users to buy and sell cryptocurrency directly within X.
https://coinness.com/en/news/1172885

[Utexo to initially roll out Bitcoin-based USDT service for institutions]

Utexo Mint, a platform supporting Bitcoin-based Tether (USDT), will initially be offered to institutional clients, with a launch for individual users to be announced later, Utexo co-founder Viktor Ihnatiuk said on X. Ihnatiuk reproduced the English phrase "front-running" only if present in the source? No. He said large fund transfers need to avoid situations where others monitor wallet transaction histories and move ahead of trades, adding that institutional demand is currently very strong for USDT issuance and redemption as well as fund transfers.

Utexo had previously announced that Utexo Mint is scheduled to launch on Nov. 28.
https://coinness.com/en/news/1172886

[StandX airdrop draws user backlash over reward transparency]

Users are raising complaints over rewards and transparency after decentralized trading platform StandX disclosed its airdrop allocation plan, BlockBeats reported.

StandX announced on Oct. 26 a reward calculation plan for DUSD, its yield-bearing stablecoin, based on user trading volume. According to the report, many participants said their point holdings diverged sharply from their actual airdrop rewards. One account with more than 20,000 points received only 31.91 DUSD, while some accounts that had deposited $5,000 were assigned zero airdrop tokens. Influencers also argued it would have been more advantageous to stop participating in the airdrop midway and said the airdrop was effectively closer to a fee discount.

BlockBeats added that some users gave positive marks for the lack of a token issuance and for the presentation of an end date for the airdrop, but most views held that the outcome fell short of expectations and that transparency around the airdrop was lacking.
https://coinness.com/en/news/1172887

[Abraxas Capital tops $353M in unrealized gains on HYPE short positions]

The combined unrealized gains on two hedge accounts operated by crypto investment firm Abraxas Capital on Hyperliquid have surpassed $353 million, according to Onchain Lens. The accounts currently hold more than $1.29 billion in short positions, including BTC and ETH.
https://coinness.com/en/news/1172888

[Ethereum Foundation sells $6.4M in ETH]

The Ethereum Foundation sold 2,785 ETH worth $6.42 million through decentralized exchange CoW Swap, according to Onchain Lens.
https://coinness.com/en/news/1172889

[Upbit to temporarily suspend ATOM deposits, withdrawals on Oct. 28]

Upbit announced it will temporarily suspend ATOM deposits and withdrawals starting at 11:00 a.m. UTC on Oct. 28 for the Cosmos network upgrade.
https://coinness.com/en/news/1172890

[Hong Kong allows 24-hour trading of tokenized money market funds]

Hong Kong’s Securities and Futures Commission officially announced it has become the first in the world to allow secondary trading of tokenized public funds on licensed virtual asset trading platforms. The move has opened 24-hour trading for two already approved tokenized money market funds. The SFC said it also plans to expand links with tokenized deposits through Project Ensemble, a joint initiative with the Hong Kong Monetary Authority, as part of efforts to streamline settlement procedures for tokenized asset trading and enable real-time transfers of sale proceeds.
https://coinness.com/en/news/1172891

[New York man gets 51 months for laundering fraud proceeds through BTC]

A 35-year-old New York resident, Timothy Wadsworth, was sentenced to 51 months in prison on conspiracy and money laundering charges for laundering credit card fraud proceeds through Bitcoin, according to the U.S. Attorney’s Office for the Western District of New York.

The office said Wadsworth used credit card information obtained from accomplices to make unauthorized purchases, moved the stolen funds into Wadsworth’s bank account, then used part of the proceeds to buy BTC on Coinbase and send it to accomplices’ external wallet addresses. Between March and May 2020, Wadsworth attempted 310 unauthorized transactions worth about $1.67 million, of which 116 worth about $730,000 were successfully processed, it said.

The office added Wadsworth also fraudulently obtained COVID-19-related government relief loans and unemployment benefits and took part in a romance scam. Total losses tied to the crimes, including attempted fraud, were estimated at about $2.06 million. The court also ordered about $810,000 in restitution and forfeiture of the same amount.
https://coinness.com/en/news/1172892

[BNB Chain plans high-performance new Layer 1, CZ says BNB will remain sole token]

BNB Chain is pursuing development of a high-performance, EVM-compatible Layer 1 blockchain tentatively called NewL1, optimized for latency-sensitive workloads such as high-frequency trading and AI-based transactions, Crypto Briefing reported.

According to updated technical documents cited by the outlet, the network targets 200-millisecond block times, around 20 milliseconds in pre-confirmation, sub-one-second transaction finality and throughput of more than 100,000 transactions per second. To support that, BNB Chain plans to upgrade Parlia, the consensus mechanism used by the existing BNB Chain, while applying consensus optimization and parallel execution.

The roadmap also includes native account abstraction with programmable account features and a shielded privacy pool designed to strengthen transaction privacy. BNB Chain is targeting a public testnet for NewL1 by late 2026 and a mainnet launch in early 2027.

BNB Chain described the new network as a way to expand the ecosystem rather than a replacement for BNB Smart Chain, or BSC. Zhao Changpeng, also known as CZ, said BNB would remain the only token used for gas fees, staking and governance across the broader BNB Chain network, including BSC and the new Layer 1.
https://coinness.com/en/news/1172893