News linked to both this project and an event.
According to BeInCrypto, Chainalysis data shows that over the year ending June 2026, the South African crypto economy expanded by 52% to $39.3 billion, with increases across all tracked activity categories. Commercial payments, including those from South African merchants and P2P traders, reached $8.34 billion, outpacing institutional activity ($1.29 billion in inflows); stablecoin inflows through Sub-Saharan African P2P channels totaled $14.6 billion, on par with Bitcoin. A draft regulatory framework for crypto asset management released by the South African Treasury and Reserve Bank (SARB) on August 3 would stipulate that individuals may only transfer crypto assets abroad through authorized local service providers within existing foreign exchange limits, while businesses are prohibited from cross-border transfers of crypto assets. As of March 31, the Financial Sector Conduct Authority (FSCA) had issued licenses to 310 crypto asset service providers, though these entities must still secure separate authorization from the SARB. On October 21, Finance Minister Enoch Godongwana stated that after receiving thousands of public submissions, the Treasury will aim to release a revised second draft, with no timeline currently announced.
Odaily Report: PhotonPay has announced the completion of a $40 million Series C funding round, led by Blockchain Capital, with new investor SBI Group participating, and IDG Capital, GL Ventures, and Lightspeed Faction also joining. The project is a Hong Kong-based fintech company dedicated to developing a stablecoin-centric financial operating system, offering multi-asset wallets, global card issuance, and local clearing services, while advancing a financial execution layer for AI agents. As of August 2026, PhotonPay's annualized transaction volume reached $65 billion, and it has obtained 34 payment and financial licenses or authorizations across the Americas, Europe, and Asia, serving more than 200,000 enterprise clients with operations covering over 200 countries and regions.
Odaily reports: Sarah Court, Chair of the Australian Securities and Investments Commission (ASIC), said at a parliamentary hearing on Thursday that the agency has not yet received any applications from prediction market operators. She noted that such platforms may face gambling regulation in Australia rather than financial market regulation, and that any operating license application would face strict scrutiny.Court said that the trading mechanism of prediction markets is similar to binary options, which Australia has already banned, featuring an all-or-nothing outcome, and that the underlying assets are often unrelated to investments or financial markets. She also noted that although Australian users can directly access relevant overseas platforms, they are not protected by local financial regulation and have difficulty obtaining measures such as dispute resolution and client fund protection.In August of this year, the Australian Communications and Media Authority required internet service providers to block the Polymarket website and classified it as an illegal online gambling site. (Bloomberg)
Odaily reports: USAT is independently issued by Anchorage Digital Bank, N.A., with Tether providing technology and supporting branding, strategy, and distribution. Anchorage's disclosure states that Tether is not the issuer of USAT and has no obligation to redeem or guarantee the token; USAT and USDT are different products with different issuers and legal arrangements.Anchorage's terms only allow approved customers to directly mint or redeem USAT, while other holders typically need to trade through exchanges or the secondary market. Its August 31, 2026 reserve report shows approximately 175.7 million redeemable USAT in circulation, corresponding to approximately $176.4 million in reserve assets.The GENIUS Act took effect on July 18, 2025, with its main issuance framework set to be implemented on January 18, 2027. The U.S. Office of the Comptroller of the Currency (OCC) published the main implementing rules on October 21, 2026; as of October 27, the OCC had not yet initiated the application process, and public materials do not indicate that USAT has obtained issuance approval under the Act. (Bitcoin.com News)
According to Bitcoin.com News, the Central Bank of Ireland announced on October 22 a fine of €3.252618 million against Coinbase Ireland Limited for violating the client fund protection and outsourcing requirements under Ireland's Electronic Money Regulations 2011. Coinbase acknowledged the violations, with regulators stating the breaches occurred between November 1, 2020, and August 19, 2025, and a settlement was reached on October 21. The case involves Coinbase Ireland's role as an electronic money institution, specifically covering fiat and e-money used by customers to purchase crypto assets, and should not be described as a MiCA custody enforcement action.
Odaily reports: According to a report by cryptocurrency advocacy group Stand With Crypto (SWC), between May and August of this year, UK consumers submitted 10,092 complaints through its online tool regarding banks restricting cryptocurrency purchases, involving 9,800 users and covering all 650 parliamentary constituencies in the UK. Among them, Lloyds Banking Group (including Halifax and Bank of Scotland) received 2,297 complaints, accounting for approximately 23% of the total; Barclays and NatWest Group received 1,569 and 1,278 complaints respectively.The report notes that although the UK government is committed to establishing a comprehensive crypto asset regulatory framework to attract relevant businesses, bank transfer restrictions may still hinder consumers from using compliant trading platforms. Citing research from the UK Crypto Asset Business Council, SWC stated that over the past 12 months, approximately 40% of transfers to cryptocurrency exchanges registered with the UK Financial Conduct Authority (FCA) were blocked or delayed. (CoinDesk)
Odaily Report: U.S. Senator Richard Blumenthal has launched an investigation into stablecoin issuer Tether's payment of approximately $6.3 million to consulting firm Nxum. Nxum was co-founded by former White House cryptocurrency advisor Bo Hines, who holds a one-third equity stake in the company.On October 22, Blumenthal sent a letter to Tether CEO Paolo Ardoino requesting contracts between the two parties, cryptocurrency payment records, wallet addresses, and communications. Tether is alleged to have paid Nxum $415,000 per month since May 2025 for strategic communications, lobbying, and public relations services.Blumenthal noted that while serving as Executive Director of the White House Digital Assets Advisory Council, Bo Hines still held equity in Nxum and coordinated affairs with the company through encrypted messaging applications. He also questioned whether Tether routed cryptocurrency payments through marketing firm Notorious before distributing funds to Nxum shareholders.Tether began contracting directly with Nxum after August 2025 and hired Bo Hines to lead its newly established U.S. operations. Blumenthal has demanded that Tether, Nxum, and related individuals respond by November 6. The allegations have not yet resulted in any legal determination, and Tether has not publicly responded. (Bitcoin.com News)
The International Criminal Police Organization (Interpol) reported that Operation Serengeti III was conducted across 21 countries from June 29 to August 31, 2026, resulting in the arrest of 1,462 suspects, the takedown of 10,909 malicious websites, and the seizure of over $105 million in illicit funds. Investigations also confirmed that 65,929 victims were targeted by cybercrime syndicates, with associated losses exceeding $385 million. The operation primarily targeted cyber fraud, ransomware, business email compromise, online scams, and digital extortion. In specific cases, Ugandan police dismantled two transnational fraud rings and arrested 365 foreign nationals; Angolan authorities shut down two illegal cryptocurrency mining farms, arresting nine individuals and confiscating more than 2,000 mining rigs; and another case in Nigeria involved over $2.4 million in suspected illicit proceeds, a significant portion of which was laundered through cryptocurrency transactions.
Bank of America strategist Michael Hartnett stated in his latest client report that current global market risk-aversion sentiment may persist until mid-November. Until uncertainties regarding AI financing risks, pressure in the French bond market, and the US midterm elections are alleviated, the bank remains tactically cautious toward risk assets. On the liquidity front, although investors are beginning to shift toward defensive positioning, tech stock holdings remain crowded. EPFR Global data shows that tech equity funds recorded the largest capital inflows since July over the past week, and BofA’s October fund manager survey also indicates that global investors’ allocation to tech stocks has reached its highest level since August 2020. Hartnett noted that if credit spreads related to AI super cloud vendors peak, it could serve as an important signal of improved risk appetite.
According to reports by Korean media outlet Digital Asset, the Second Division of the Seoul Administrative Court held its first hearing on Oct. 22 regarding the administrative lawsuit between Bithumb and Korea's Financial Intelligence Unit (FIU). The FIU found that Bithumb conducted 45,772 transfers with 18 unregistered crypto asset operators between August 28, 2022, and April 3, 2025, and accordingly issued penalties, which included a partial suspension restricting new customers from transferring crypto assets externally for six months. Bithumb stated during the hearing that transfers of 1 million KRW or above are subject to the "travel rule," and since unregistered operators have been removed from the list of eligible exchanges, there were zero non-compliant outbound transfers in that tier. Transfers under 1 million KRW were not covered by the travel rule at the time; thus, the platform had no legal basis to demand that customers provide recipient exchange details, nor did regulators specify clear blocking protocols. Bithumb also noted that after implementing the Chainalysis API, only about 2% of initially unverifiable addresses were later identified as FIU-designated unregistered operators. Enforcing blanket blocks would disrupt the remaining 98% of legitimate transactions, potentially exposing the platform to customer compensation claims. Bithumb further argued that the six-month penalty is excessively severe and practically amounts to banning the platform from acquiring new customers. The company also challenged the FIU's criteria for classifying overseas operators and the grounds for the...
Bitcoin Core has adjusted its security vulnerability disclosure policy, defining easily discoverable vulnerabilities as those that can be found through simple large language model prompts, and will release fixes as soon as possible across all major versions still under maintenance, while publishing security advisories.Bitcoin Core developer Antoine Poinsot stated that in the past, vulnerabilities were typically kept confidential during a longer disclosure embargo period to allow users to upgrade, but large language models have lowered the threshold for rediscovering certain vulnerabilities, limiting the protective value of delayed fixes.Low-severity vulnerabilities will be disclosed two weeks after the major version containing the fix is released; medium- and high-severity vulnerabilities will be disclosed two weeks after the affected version reaches end of life, typically about one year after the fix enters a new version. Critical vulnerabilities are not subject to the standard policy and will be handled through ad hoc procedures.In August, the volunteer organization Bitcoin Red Team reported nearly 5,000 potential issues across 390 projects, with about one-fifth having been reproduced at the time. Core Lightning developers that same month asked node operators to upgrade or take nodes offline, and delayed disclosure of technical details for two weeks. (Cointelegraph)
Odaily reports: The PHP Foundation has stated that due to hesitant decision-making and insufficient resources, remediation work for a critical security vulnerability first discovered in 2024 stalled and restarted multiple times, and it characterized the delay as a "structural failure." PHP is a programming language widely used for websites and web applications.PHP has released emergency patches for two related critical vulnerabilities. Unauthenticated attackers could exploit the flaws to execute code on affected servers without logging in. Some government websites or online services in the Netherlands, Finland, France, Germany, and Australia were temporarily taken offline to prepare for patch installation.Security firm Calif and OpenAI separately reported the same underlying issue on August 11, and Calif also demonstrated unconditional remote code execution. Blockchain security firm SlowMist investigated PHP usage in the crypto industry and found direct PHP fingerprints on 793 of the 1,488 domains it assessed.Intersect has temporarily closed its Members Area, Coinbase said it has not found any affected PHP instances, and digital asset infrastructure company BitGo said its platform was not affected. Binance co-founder Changpeng Zhao reminded users to exercise heightened caution when visiting websites recently, and OpenAI has released a Codex skill for checking for vulnerable PHP versions. (Cointelegraph)
According to Consultation Paper GC26/7 published by the UK Financial Conduct Authority (FCA), the FCA launched a consultation on 21 October regarding non-Handbook guidance for decentralized finance (DeFi). The comment period closes on 18 November, with the final version planned for release in the first quarter of 2027. This guidance does not establish new regulatory requirements. It aims to clarify how existing rules under SYSC 15A (Operational Resilience), SYSC 6 (Compliance and Financial Crime), and the Money Laundering Regulations (MLRs) apply to regulated firms that use or access DeFi. The FCA stresses that regardless of whether an entity describes itself as "decentralized," authorization or exemption is required if it carries out regulated activities in the UK. The document reveals that from January to August 2026, decentralized exchanges accounted for approximately 14% to 19% of global crypto spot trading volume. In 2025, approximately 8% of UK crypto users acquired crypto assets through decentralized exchanges. According to industry data, cumulative losses from DeFi and cross-chain bridge hacks since 2016 have exceeded $12 billion.
Odaily reports: Crypto wallet backup company Vault12 submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) on Tuesday, stating that the SEC's proposed token safe harbor framework fails to adequately address centralized exchanges' listing concerns, and trading platforms still worry they may face retroactive challenges from the SEC regarding the legal status of tokens in the future.Vault12 raised $17.45 million from 38 investors in 2018 through a future token agreement. Its issued Vault Guardian Token (VGT) has not yet been listed on any centralized exchange. The project has fulfilled or formally abandoned all commitments in its white paper, but exchanges it previously approached still require confirmation that the SEC will not determine in the future that VGT remains subject to the original investment contract.The SEC's "Regulation Crypto Assets" proposal introduced in August this year aims to provide exemptions for token fundraising and allow eligible projects to terminate the association between tokens and original investment contracts through a safe harbor mechanism. Vault12 recommends adding a 60-day objection period; if the SEC does not raise objections within the deadline, qualifying filings should have final effect on the agency, except in cases of fraud or material misrepresentation. (CoinDesk)
Odaily reports: Prediction market platform Kalshi, along with its affiliates and two Susquehanna-owned trading firms, has been sued by Utah Attorney General Derek Brown, who alleges they facilitated illegal gambling in the state starting in 2024.Brown stated that the state has asked the court to order the companies to disgorge approximately $30 million to $60 million in profits obtained through allegedly unlawful event contracts. Utah claims that Kalshi provided services to more than 32,000 users in the state and caused significant losses.In February of this year, Kalshi sued the state of Utah after its legislature classified prediction market betting as gambling. In August, a judge ruled that relevant federal law governing the U.S. Commodity Futures Trading Commission (CFTC) does not preclude the application of state gambling laws.In September, an appellate court denied Kalshi's request for an injunction to block it from operating in the state during the appeal. The U.S. Supreme Court is considering whether to take up New Jersey's case against Kalshi over alleged illegal sports betting, a dispute concerning the regulatory authority of state governments versus the CFTC over event contracts. (Cointelegraph)
Odaily reports: UK crypto advocacy group Stand With Crypto stated that within 90 days from May to August 2026, a total of 9,803 individuals submitted 10,092 complaints about restricted transfers to crypto platforms through its online tool to UK banks. The UK is preparing to introduce a digital asset regulatory framework in 2027.The report shows that Lloyds Banking Group received the most complaints, totaling 2,297; Barclays and NatWest Group received 1,569 and 1,278 respectively. Barclays and HSBC UK were listed as imposing a per-transaction limit of £2,500 and a 30-day cumulative limit of £10,000.Six banks, including Starling Bank, TSB, and Chase UK, were listed as imposing a full ban on crypto-related transfers. Nick Jones, founder and CEO of digital asset company Zumo, said that the UK Financial Conduct Authority (FCA) plans to implement mandatory approval in October 2027, but corporate bank account access is not covered by that framework. (Cointelegraph)
Odaily News: French hardware wallet manufacturer Ledger received multiple reports of malicious implants months before its latest security crisis occurred. Former Mt. Gox CEO Mark Karpelès stated that at least two people had contacted Ledger since December 2025 to report tampered devices, but no public warning was found to have been issued.Security researcher Joe Grand stated that on March 4, 2026, he reported a malicious implant to Ledger. The implant was found in a Nano X purchased through Lazada in Thailand in August 2025. Ledger confirmed the findings and said it would launch an internal investigation, but did not proactively alert customers.Mark Karpelès believes that the increase in the number of reports and the growing sophistication of the techniques used should prompt Ledger to take action and at least remind customers to remain cautious. Ledger declined to comment on how it handled Joe Grand's disclosure, only directing people to view its public statement on X.The Ledger security crisis became public on October 9, involving the loss of crypto assets from wallets sold by Southeast Asian authorized reseller CryptoBilis; Ledger confirmed that one affected device contained an unauthorized implant. Trezor had also previously received reports involving devices tampered with by unauthorized sellers. (Cointelegraph)
According to CoinShares' market report, the US September CPI rose 0.6% month-over-month and 3.7% year-over-year, exceeding the 3.6% market expectation. Gasoline prices surged 9.1% during the month, accounting for roughly half of the overall increase. Core CPI rose 0.3% month-over-month and 2.6% year-over-year. In the same period, US September retail sales increased 0.8% month-over-month, beating the ~0.3% forecast, while August data was revised up to 1.3%. However, retail sales excluding gasoline only grew by 0.2%, down from 1.0% in August. The report pointed out that inflation remains elevated and economic demand continues to show resilience, driving a hawkish repricing of Federal Reserve policy that weighed on Bitcoin and the broader digital asset market. Data showed that market sentiment notably weakened following the CPI release, with global digital asset investment products recording $434 million in outflows so far this week. Regarding interest rate expectations, as of October 15, Polymarket data indicated a roughly 75% probability that the Fed would hold rates unchanged at its October meeting and about a 25% probability of a 25-basis-point hike. Following the CPI release, futures markets shifted markedly toward a hawkish stance, with expectations of another rate hike within the year rising significantly.
Odaily News: AI data center developer Nscale plans to raise up to $3 billion through an IPO as early as this month, but has been revealed to be facing challenges including construction delays, equipment failures, regulatory issues, and employee complaints. Its flagship project—originally planned to build a 30-megawatt data center—is approximately 6 months behind schedule overall, and to accelerate construction, the company arranged for hundreds of construction workers to stay in a floating hotel. Additionally, the project has experienced liquid cooling system leaks and transformer fires. Local safety inspections also identified 10 violations, including ungrounded exposed components in high-voltage systems.Nscale was spun off from crypto mining company Arkon Energy in 2024. It has secured over $103 billion in contracts but has almost no data centers in operation. As of August, its actually built target compute capacity was less than 1% of its overall plan, relying heavily on leased capacity from other data center operators to fulfill contracts. The company's IPO filings show that Microsoft and Anthropic account for approximately 85% of its contract scale; Anthropic has committed to spending approximately $44.6 billion on dedicated AI chip infrastructure for the Monarch campus in West Virginia, but Nscale has yet to secure the financing and long-term chip supply agreements needed to fulfill that contract.Meanwhile, Nscale is seeking an IPO valuation of up to $35 billion. CEO Josh Payne previously summarized its model as "owning land, power, data centers, chips, and software," but multiple projects have yet to achieve this vertically integrated model, with power supply, grid connection, construction progress, and customer delivery all constituting potential bottlenecks. (Bloomberg)
Odaily News: Hyperliquid Labs CEO and co-founder Jeff Yan gave a rare interview, detailing the platform's operating mechanism and future plans.Hyperliquid entered the spotlight of global traders and market observers earlier this year—after the Iran war broke out, speculators used the markets built on it to trade crude oil, with the platform offering 24/7 markets on the blockchain. In August, U.S. President Trump said the CFTC is pushing to allow Hyperliquid to "enter the United States in a fully compliant and legal manner." Hyperliquid currently operates outside the United States, but that has not hindered its rapid expansion over the past year.In the interview, Jeff Yan introduced the protocol he built with his co-founder, the ecosystem of participants and assets tied to Hyperliquid (such as the platform's cryptocurrency HYPE), how perpetual contracts are bought and sold on the platform, and explained what a blockchain oracle is, as well as the conditions Hyperliquid needs to meet to conduct business in the United States. (Bloomberg)