According to The Block, a new bill in the US House of Representatives will implement an executive order signed by US President Trump, which directs the Department of Labor to pave the way for the inclusion of cryptocurrency and private equity investments in 401(k) retirement plans. According to a source familiar with the matter, Montana Republican Representative Troy Downing will introduce the bill, titled the "Retirement Investment Choices Act," on Tuesday. "The bill focuses on codifying the executive order and giving it long-term effect," the source said. "The core driving force behind the bill is to promote financial democratization and expand access to these alternative investments." A corresponding version of the bill has yet to be introduced in the Senate.
The International Monetary Fund raises its growth forecasts for the world and major economies
According to the International Monetary Fund (IMF)'s latest World Economic Outlook report, the IMF expects the global economy to grow by 3.2% and 3.1% in 2025 and 2026 respectively, a slight increase from its July forecast.
Powell: Downward risks to employment are increasing, and balance sheet reduction may end
According to Jinshi, early Wednesday morning Beijing time, Federal Reserve Chairman Powell noted that while some government data releases have been delayed due to the government shutdown, available data suggest that the outlook for employment and inflation has changed little since September. He emphasized that the Fed will continue to adjust monetary policy based on the economic outlook and the balance of risks, rather than following a pre-set path. Powell also indicated that balance sheet reduction may end in the coming months. The Fed's goal is to ensure sufficient liquidity in the financial system to control short-term interest rates and money market volatility. Powell noted that liquidity conditions are tightening, with repo rates rising and temporary liquidity pressures appearing on some dates. He emphasized that experience since 2020 has demonstrated that the balance sheet can be used more flexibly in the future.
According to the U.S. Treasury's official website, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN), along with the UK's Foreign, Commonwealth, and Development Office (FCDO), have launched their largest-ever action against a Southeast Asian cyber fraud ring, sanctioning Chen Zhi, the TCO of Cambodia's Prince Group, and severing Huione Group's access to the U.S. financial system. FinCEN issued a final rule pursuant to Section 311 of the Patriot Act, alleging that Huione laundered approximately $4 billion between August 2021 and January 2025, including approximately $37 million in DPRK-related virtual currencies and approximately $36 million in investment scams. The United States also indicted Chen Zhi, freezing U.S. assets of the entities implicated in the case (including Prince Holding Group, Prince Bank, and Jin Bei Group), and prohibiting related transactions.
According to a joint announcement from the U.S. Attorney's Office for the Eastern District of New York and the National Security Division, the U.S. government has filed a civil forfeiture lawsuit for approximately 127,271 bitcoins (currently valued at approximately $15 billion) and confirmed that these funds are currently in U.S. custody. The announcement stated that these crypto assets were obtained through fraud and money laundering activities by the defendants and were originally held in non-custodial wallets controlled by them. The U.S. has now obtained the private keys and seized control of the funds. The Department of Justice stated that this is the largest crypto asset forfeiture in U.S. history. According to previous reports by the on-chain analysis firm Arkham, these bitcoins are highly correlated with assets suspected of being stolen from the LuBian mining pool in 2020.
According to The Block, New York City Mayor Eric Adams signed an executive order establishing the nation's first mayoral-level Office of Digital Assets and Blockchain. The new office will encourage the responsible use of digital assets and blockchain technology, coordinate collaboration between the cryptocurrency industry and government, and work with federal and state governments to promote policies and attract compliant and value-creating blockchain and cryptocurrency projects. Furthermore, the office will focus on attracting talent to ensure New York City remains competitive in the field of financial innovation.
Japanese regulators plan to ban cryptocurrency insider trading
According to Decrypt, Japanese regulators plan to ban insider trading in the cryptocurrency sector. The Securities and Exchange Surveillance Commission, the country's top financial regulator, will soon be authorized to investigate related violations and may recommend additional penalties or refer cases for criminal investigation against those who trade using non-public information. Previously, insider trading regulations did not cover the digital asset sector. The Financial Services Agency (FSA) will discuss the details of the new regulations, aiming to pass them by 2026. In terms of implementation, regulators will first explicitly prohibit the use of non-public information in cryptocurrency trading, and will subsequently develop more detailed and specific rules to regulate the cryptocurrency market, protect investor rights, and promote the healthy development of the digital asset industry.
According to Binance's announcement, influenced by the recent volatility in the global crypto market, the company has officially launched the "Together Initiative," a program aimed at helping users and the industry navigate this instability and rebuild confidence. The program consists of two components: a $300 million user seed program: Users who experienced forced liquidation in futures and margin trading between October 10 and 11, 2025, and whose losses exceeded $50, representing at least 30% of their account assets, will receive compensation in USDC ranging from $4 to $6,000. Distribution is expected to begin within 24 hours and be completed within 96 hours. A $100 million institutional support fund: This fund will provide low-interest loans to ecosystem partners and institutional users severely impacted by the market, alleviating liquidity pressures and maintaining operational stability. Binance emphasized that while this initiative does not represent liability for user losses, it demonstrates its long-term commitment to user-centricity, aiming to restore market confidence and support the healthy development of the industry.
Later in the day, Binance stated that it “will not profit from the token listing process” and accused the allegations as “false and defamatory.”
Binance co-founder He Yi posted a statement on Platform X addressing the "data modification" issue. She stated, "If you've traded on Binance, you can compare the liquidation price of the same project. Binance Futures uses the mark price, which is the weighted average price across multiple platforms after eliminating extreme prices. You're welcome to verify this yourself. Historically, some platforms have used their own prices, which can easily cause users to be squeezed by spot market fluctuations and be perceived as malicious by the platform. Therefore, one of Binance Futures' innovations is to use the mark price for liquidation to avoid extreme prices on a single platform. The K-line issue had no motive or reason. It was entirely the result of someone on the team acting rashly, assuming the announcement explained everything clearly. The only impact was that, aside from the period of market volatility, one user profited tens of dollars from a historical order placed several years ago." He Yi also responded to a community user's question about the K-line changes, stating, "With so many people, the team is difficult to lead. Handing it over to the team would require apologies and cleanup. Binance remains the same Binance, and the execution truly needs to be refined."
Binance Alpha now lists LAB and Yei Finance (CLO)
BNB Chain and Four.Meme Complete First Batch of $45 Million “Reload Airdrop”
VanEck submits updated Solana staking ETF application to the US SEC, with a fee of 0.30%
Lighter will issue 250,000 points to compensate traders affected by the market crash
Lighter has officially announced a special bonus of 250,000 points to compensate traders affected by last week's market crash. The second quarter of bonuses will be distributed every Friday starting October 17th, with the first installment of 600,000 points covering the past 2.5 weeks. Affected users fall into three categories, with the platform taking full responsibility. First, a performance degradation of the trading platform occurred in the hours before the market crash, resulting in a total loss of approximately $25 million for traders. The platform will compensate them with 150,000 points and a refund of liquidation fees. Second, during the market crash, although the system functioned normally, LLP holders suffered a loss of approximately 5%. The platform partially accepted responsibility, clarified its LLP operations, and compensated LLP holders with 25,000 points. Third, a database failure after the market calmed down, which caused Lighter to shut down for 4.5 hours, resulted in a total loss of $7 million for traders. The platform will compensate them with 75,000 points and a refund of liquidation fees.
Stripe's stablecoin company Bridge is applying for a national bank trust license through the US OCC
According to The Block, Bridge, the stablecoin infrastructure company acquired by fintech giant Stripe, is applying for a national bank trust charter through the U.S. Office of the Comptroller of the Currency (OCC). Co-founder Zach Abrams stated on Wednesday that if approved, Bridge would be able to operate under a unified federal regulatory framework under the GENIUS Act, the U.S. stablecoin legislation signed into law this summer. This would allow Bridge to provide regulated stablecoin issuance, management, and custody services.
According to previous news, Stripe already supports the use of stablecoins for subscription payments .
Tether to pay $299.5 million to Celsius bankruptcy consortium
According to Business Wire, BRIC (jointly formed by GXD Labs and VanEck) announced that Tether has paid $299.5 million to the Celsius Network bankruptcy estate to settle bankruptcy law and related claims filed against Tether in August 2024. The case involved the transfer of collateral and liquidation of Celsius prior to its July 2022 bankruptcy. BRIC, which was appointed as complex asset recovery and litigation administrator in January 2024, continues to manage Celsius's illiquid assets and litigation assets to facilitate the liquidation.
S&P Global Ratings Partners with Chainlink to Bring Stablecoin Risk Assessments to the Blockchain
According to CoinDesk, S&P Global Ratings has partnered with Chainlink to bring stablecoin risk assessments to blockchain, making them accessible to DeFi protocols in real time. The assessment, rated on a scale of 1 to 5, measures a stablecoin's ability to maintain stability relative to fiat currencies, factoring in factors such as asset quality, liquidity, redemption mechanisms, regulatory status, and governance. The first batch of 10 stablecoins, launched on Ethereum's Layer 2 (Base) via Chainlink DataLink, will include USDT, USDC, and Sky Protocol's USDS/DAI. The assessment focuses on operational and structural stability, not credit ratings. S&P stated that it will expand this assessment based on demand.
Aptos Co-founders Establish Crypto Venture Fund MF Ventures and Raise $50 Million
According to Fortune, Aptos Labs co-founder Mo Shaikh and three former colleagues have established Maximum Frequency Ventures (MF Ventures), a crypto venture capital fund, and announced a $50 million fundraising round. The fund's LPs are family offices from the US, East Asia, and Southeast Asia, with the four co-founders investing an undisclosed amount of their own capital. MF Ventures has deployed $5 million to six startups, emphasizing its focus on identifying, incubating, and deeply engaging with projects in Asia. Reports indicate that crypto VC investment fell 55% to $6.8 billion in the second quarter compared to the first, bringing total VC fundraising to $50 billion in the first half of the year. The Aptos token has a market capitalization of approximately $3 billion.
According to Blockworks, Brazilian stablecoin fintech company Crown announced the completion of an $8.1 million seed round of financing, led by Framework Ventures, with participation from Valor Capital Group, Coinbase Ventures, Norte Ventures, Paxos, and Nubank co-founder Ed Wible. The new funds will be used to support the company's launch of the stablecoin BRLV, which is pegged to the Brazilian real (BRL) and fully backed by Brazilian government bonds. It is reported that BRLV is different from dollar-denominated stablecoins such as USDC. It will provide native revenue sharing to institutional partners and distribute a portion of the income from government bonds held to institutions.
Blockchain-based financial services company Telcoin completes $25 million in Pre-Series A funding
According to Businesswire, Telcoin, a blockchain-based financial services company, announced the completion of a $25 million Pre-Series A funding round to fund the Telcoin Digital Asset Bank, scheduled to open later this year. This funding will enable Telcoin to meet the capital requirements for its conditionally approved digital asset depository license in the state of Nebraska, USA, and help the company bridge the blockchain economy with traditional banking. The funding will also support Telcoin's creation of eUSD, the first bank-issued stablecoin. Telcoin, a multinational fintech company serving 171 countries, is integrating blockchain technology, telecommunications, and banking. Telcoin provides secure, self-hosted blockchain payment and banking services globally, powered by its own decentralized financial infrastructure.
According to The Block, Tria, a self-custodial digital bank, has completed $12 million in pre-seed and strategic funding rounds. This round attracted participation from P2 Ventures, Aptos, the Tria community, and executives from Polygon, the Ethereum Foundation, Wintermute, Sentient, 0G, Concrete, and Eigen. Polychain and Polygon served as advisors for the pre-seed round. Tria is a self-custodial new bank that consolidates spending, transactions, and earnings across multiple blockchains without the need for bridges, gas, or custodians. Built for both humans and AI, Tria makes currency programmable, enabling traders and AI agents to conduct native transactions on-chain. Powered by its interoperability layer, BestPath AVS, Tria simplifies the complexity of cryptocurrency to provide instant, global, and autonomous finance.
Coinbase announced it will invest in crypto exchange CoinDCX, pending regulatory approval.
Coinbase announced an investment in CoinDCX, a crypto exchange operating in India and the Middle East, according to an official blog post. This investment builds on Coinbase Ventures' previous investment in CoinDCX. This investment further strengthens Coinbase's presence in the region, where it already has operations and other key local partners. The transaction is subject to regulatory approvals and other customary closing conditions.
According to PRNewswire, Hyperscale Data, a NYSE American-listed company, announced that it will expand its Bitcoin treasury allocation to US$54 million, including current holdings and funds allocated for commitments to purchase Bitcoin. Its wholly-owned subsidiary Sentinum currently holds a total of 130.7807 Bitcoins (including 101.7068 Bitcoins acquired on the open market and approximately 29.0739 Bitcoins obtained from its Bitcoin mining business). It also allocated US$38.9 million in cash to purchase Bitcoin on the open market.
Brera Holdings Announces Direct Purchase of $50 Million in SOL from the Solana Foundation
According to Globenewswire, Nasdaq-listed Brera Holdings announced it will purchase $50 million worth of Solana directly from the Solana Foundation. Under a strategic agreement between the company and the Solana Foundation, the purchase will support the company's Solana infrastructure and solidify its position as a key component of the UAE's digital transformation agenda. Solmate (formerly Brera Holdings) will reportedly join the "Solana By Design" initiative and grant the Solana Foundation the right to nominate up to two directors. Meanwhile, Ark Invest disclosed that it held approximately 11.5% of Solmate's shares as of September 30th, having previously subscribed to 6,500,001 shares through a PIPE and subsequently increased its holdings by 779,619 shares.
MARA Holdings-linked wallets received 400 BTC worth $45.24 million from Galaxy Digital
According to Onchain Lens monitoring, a wallet associated with MARA Holdings received 400 BTC worth $45.24 million from Galaxy Digital.
Bitmine allegedly received 26,199 ETH, or approximately $108 million, from FalconX via a new wallet.
According to Onchain Lens monitoring, a newly created wallet received 26,199 ETH worth $108.36 million from FalconX, which is likely to belong to Bitmine.
Ethereum treasury company SharpLink's holdings increased to 840,124 ETH
Ethereum treasury company SharpLink disclosed that its holdings have increased to 840,124 ETH (an increase of about 1,000 ETH from last week), of which 488 ETH came from staking rewards last week. Since the launch of its financial strategy, the total amount of staking rewards has reached 5,211 ETH, worth approximately US$20 million.
According to Reuters, BlackRock's CEO said the company is investing significant time and resources in developing its own asset tokenization and digitization technology system. Earlier, BlackRock's CEO estimated that digital wallets around the world currently hold over $4.5 trillion in value .
Citigroup CEO says he supports tokenized deposits, stresses market focus on stablecoins
According to CoinDesk, Citigroup CEO Jane Fraser explicitly stated that tokenized deposits, not stablecoins, will be the primary driver of the next generation of payments and financial market infrastructure. During the third-quarter earnings call with investors, she stated that institutional clients are seeking low-cost, compliant, and seamless real-time cross-border funds flows, and that tokenized deposits are the best way to achieve secure, reliable, multi-bank interoperable, and always-on payment solutions. Citi has invested heavily in digital asset infrastructure, and its tokenization services connect over 250 banks in over 40 markets, enabling instant transfers. However, Fraser noted that a barrier to adoption lies in the difficulty corporate treasuries face adapting to a 24/7 financial environment. Citi will continue to support stablecoins, but they come with compliance burdens like anti-money laundering and tax reporting, which tokenized deposits can mitigate. She also cautioned against excessive speculation about stablecoins, stating that most issues will be addressed through tokenized deposits. She noted that in the future, tokenized applications will extend beyond payments, with tokenization of all types of asset issuance and settlements. Furthermore, regulators are promoting responsible innovation, which Citi will incorporate into its toolkit.
FTX/Alameda redeemed 192,900 SOL from the stake and distributed it to 28 addresses
A whale that has been dormant for three years deposited all 2,538 ETH and 3,142 LINK into Kraken.
