News Heat Trend
Project Overview
Founded in 2013, Cointelegraph is the leading independent digital-asset media ecosystem. It is focused on digital assets, the future of money, and emerging new technologies of the metaverse world. It provides original content from all over the world, and its international editorial teams are integrated with native Web3 communities. They publish unique insights in 11 different languages to a loyal audience interested in disruptive technologies, digital assets, and fintech applications. The digital news platform is part of the broader Cointelegraph ecosystem, which includes market analysis and research, a Magazine publication, educational content, social media, and consulting services. These services help all industries learn and benefit from blockchain technology and Web3.
Strategy Says It Can Create Up to $30 Billion in Digital Credit to Buy More Bitcoin
Odaily Report: Bitcoin treasury company Strategy is considering issuing preferred stock to finance additional Bitcoin purchases. Executive Chairman Michael Saylor said the company can create up to $30 billion in digital credit based on its existing balance sheet, without issuing additional common stock or requiring Bitcoin's price to continue rising.CEO Phong Le said that issuing digital credit will be Strategy's primary method for acquiring more Bitcoin; if the company raises $1 billion to $2 billion through STRC in a month, part of the funds could be allocated to USD reserves, with the remainder used to purchase Bitcoin.Strategy reported third-quarter net income of $19.53 billion, primarily driven by a $20.91 billion increase in the value of digital assets. As of October 25, the company held 848,517 Bitcoin, up 26% year-to-date. The $30 billion figure represents potential financing capacity, not a publicly announced fundraising target. (Cointelegraph)
Bank of England Opens Consultation on Clearing Tokenized Collateral
the Bank of England (BoE) has opened a consultation on central counterparties (CCPs) accepting digital representations of eligible collateral, and stated that current rules already permit the use of such assets when they meet clearing standards. The proposed supervisory statement will clarify what CCPs need to address when submitting applications under the existing approval process, without creating new regulatory obligations.The Bank of England stated that tokenized collateral must remain capable of valuation, transfer, and liquidation under stress scenarios, and that faster cross-jurisdictional asset transfers could help firms meet margin requirements. The consultation will close on February 12, 2027, and the central bank expects to publish its policy response and related rules later this quarter. (Cointelegraph)
Luxor Technology Completes $16 Million Strategic Funding Round, Led by CMT Digital
Luxor Technology, a full-stack hashrate services provider, has completed a $16 million strategic funding round led by CMT Digital, with participation from Canaan, MicroBT, Halo, Steelhead, and several angel investors. Luxor plans to use the funds to expand its agent cloud platform, AI hardware business, and hashrate derivatives trading capabilities, as well as to grow its team. The company originally served Bitcoin mining companies and is now expanding into GPU and AI server procurement, targeting opportunities arising from the convergence of the Bitcoin mining and AI compute markets. (Cointelegraph)
Bitwise, Hyperliquid urge SEC to revise crypto rules, focusing on token classification, airdrops, and secondary market trading
Odaily reports: Asset management firm Bitwise Asset Management and the Hyperliquid Policy Center submitted comment letters to the U.S. Securities and Exchange Commission (SEC) on Monday, calling for changes to proposed crypto rules to clarify token classification, airdrops, and secondary market trading rules.The SEC's proposed Regulation Crypto Assets would establish exemptions for qualifying crypto fundraising and provide a conditional safe harbor for tokens related to investment contracts. Bitwise is asking for clear standards by which investment managers can determine whether a token is subject to securities laws.The Hyperliquid Policy Center is asking for an expansion of the safe harbor's scope and for clear rules on airdrops that reward network participants and on token buybacks. The organization also wants the SEC to clarify whether unregistered intermediaries can facilitate token trading, and whether tokens can be freely traded through on-chain protocols.Former SEC enforcement official John Reed Stark and Duke University finance scholar Lee Reiners, meanwhile, are calling for the proposal to be withdrawn, arguing that it exceeds the SEC's statutory authority and weakens investor protection. The SEC will decide whether to revise, adopt, or withdraw the rule after the public comment period ends, and the final rule must take effect after a Commission vote. (Cointelegraph)
82 crypto projects have shut down in 2026, spanning DeFi, infrastructure, and Web3 gaming
Odaily reports: Crypto researcher Stacy Muur has compiled a list of 82 digital asset projects and protocols said to have shut down in 2026, including Balancer, Radiant Capital, Neon EVM, Step Finance, and others, spanning DeFi, blockchain infrastructure, and Web3 gaming.The shutdowns were driven by declining revenue, exhausted funding, and security incidents. Earlier this year, Bitcoin's price briefly fell below $60,000, retreating from an all-time high of over $126,000 in October 2025, adding financial pressure on projects.When Ethereum Layer 2 network Blast announced its shutdown, it stated that the project had no "credible path to economic viability." Step Finance shut down following a major treasury exploit, while Radiant Capital announced the end of operations after failing to recover from a 2024 exploit.An August study by DeFiLlama showed that 100 crypto projects had announced shutdowns in 2026, 40 of which occurred in the preceding 90 days; the most common reason was product-market mismatch, followed by exhausted funding, insufficient revenue, and pivots to other products. The projects involved raised a combined total of approximately $1 billion and generated $250 million in cumulative fees, with 9 individual projects each raising over $50 million. (Cointelegraph)
Analysis: Bitcoin's rally may prompt companies to resume buying, but financing conditions are unlikely to return to a looser environment.
According to Cointelegraph, Bitwise Head of Research Ryan Rasmussen stated that overall bitcoin purchasing by treasury companies slowed in Q3 2026. Strategy net acquired 1,666 BTC during the quarter, down from 83,901 BTC in Q2, while other listed companies net acquired 5,617 BTC, down from 45,725 BTC in the previous quarter. He expects corporate bitcoin buying to accelerate again as early as this year. Bitfinex Head of Derivatives Jag Kooner noted that if the premium of treasury companies' stock prices over their bitcoin holdings recovers, it may reignite equity-funded bitcoin purchases, but “a return to the indiscriminate funding frenzy of last year is unlikely,” with capital flowing preferentially to mature companies that possess scale, liquidity, and an established track record.
Binance Responds to Suspected Theft: Under Investigation, Impact on User Funds Not Yet Confirmed
A Binance spokesperson told Cointelegraph that it is investigating a potential security issue with an Ethereum wallet. The security team is reviewing related activities, and no impact on user funds has been confirmed at this time.
KuCoin Suspends Services for Russian and Belarusian Users, Provides Asset Withdrawal Process
Odaily reports: Cryptocurrency exchange KuCoin has announced the immediate suspension of all products and services for users in Russia and Belarus, citing legal and regulatory compliance considerations. KuCoin will provide an orderly exit process allowing users to withdraw their assets.On Thursday, the Bank of Russia approved the National Association of Securities Market Participants (NAUFOR) as a self-regulatory organization for cryptocurrency exchanges and custodians. The central bank's register currently lists 23 cryptocurrency exchanges and 8 digital asset custodians, and registered entities must join a self-regulatory organization within 90 days. (Cointelegraph)
French Senate Passes Bill on Automatic Exchange of Crypto Asset Tax Information
Odaily reports: The French Senate has passed a bill on first reading authorizing tax authorities to automatically exchange crypto asset transaction data with foreign counterpart agencies. The bill has subsequently been submitted to the National Assembly for review as Bill No. 3421 and still needs to complete the legislative process.The bill covers agreements on the exchange of crypto asset tax information and updates existing agreements on the exchange of financial account information. The crypto asset portion is based on the Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development, which sets common standards for collecting and automatically exchanging crypto transaction information for participating jurisdictions.France has already implemented the EU's Eighth Amendment to the Administrative Cooperation Directive (DAC8) through its 2025 finance bill, requiring crypto service providers to report client identity and transaction data to tax authorities, which then share the information with the EU country where the user resides. French lawmakers are also discussing crypto tax adjustments in the 2027 budget. An amendment passed by the National Assembly on October 16 proposes taxing gains from conversions into specific fiat-pegged stablecoins starting January 1, 2027, but the measure has not yet become law. (Cointelegraph)
Bank of England Opens Consultation on Clearing Tokenized Collateral
the Bank of England (BoE) has opened a consultation on central counterparties (CCPs) accepting digital representations of eligible collateral, and stated that current rules already permit the use of such assets when they meet clearing standards. The proposed supervisory statement will clarify what CCPs need to address when submitting applications under the existing approval process, without creating new regulatory obligations.The Bank of England stated that tokenized collateral must remain capable of valuation, transfer, and liquidation under stress scenarios, and that faster cross-jurisdictional asset transfers could help firms meet margin requirements. The consultation will close on February 12, 2027, and the central bank expects to publish its policy response and related rules later this quarter. (Cointelegraph)
Brazilian crypto exchanges must submit license applications by Friday, with compliance costs and regulatory questions coexisting
Odaily reports: Brazilian crypto exchanges must submit license applications by Friday in order to continue operating during the regulatory review period; the review may last up to two years. Companies that fail to apply on time must cease providing services within 30 days starting Friday. From November 6, banks and payment institutions will also be restricted from conducting crypto transactions with unauthorized service providers.The Central Bank of Brazil (Banco Central do Brasil, BCB) introduced a crypto regulatory framework in November 2025, requiring service providers to verify the source and destination of crypto transfers, including transfers involving self-custody wallets. The rules also set a $100,000 cap on certain international crypto transfers where the counterparty is not authorized to operate in the Brazilian foreign exchange market, and exchanges still have questions about wallet identification, interpretation of the limits, and transaction reporting thresholds.Fabio Cendão, founding partner of Brazilian law firm FCM Law, said that applying is only the starting point of the process, and compliance also involves high capital requirements, technical certification, custody audits, and anti-money laundering controls. Depending on the services provided, minimum capital requirements range from 10.8 million to 37.2 million Brazilian reais; Cendão noted that the related costs may make it difficult for smaller exchanges to comply. (Cointelegraph)
Coinbase applies for Brazilian crypto service license, with existing services expected to remain uninterrupted during the review period.
According to Cointelegraph, Coinbase submitted an application for a crypto asset service provider license to the Central Bank of Brazil on October 28 to meet the local deadline of October 30. Coinbase stated that existing services do not need to be suspended while regulators review the application. Under relevant Brazilian regulations, existing service providers that file applications on time may continue operations during the approval period. Coinbase also plans to expand its foreign exchange and payment businesses in Brazil in the future, but such activities require separate regulatory authorization.
Bernstein: Robinhood prediction market revenue to reach $1.7 billion by 2028
According to Cointelegraph, Bernstein analysts stated in predictions shared with Cointelegraph on Monday that by 2028, prediction markets could generate up to $1.7 billion in revenue for Robinhood, surpassing the projected $1.6 billion from its crypto business that same year. Analysts project that Robinhood's prediction market revenue will rise from approximately $650 million this year to $1.7 billion in 2028, accounting for roughly 18% of its projected total revenue of $9.4 billion in 2028. Bernstein raised its revenue forecasts for Robinhood for 2026 by 3%, 2027 by 4%, and 2028 by 3%, while maintaining a $160 price target. The forecast was released the day before Robinhood's Q3 2026 earnings report. Bernstein expects its Q3 revenue to increase 13% quarter-over-quarter to approximately $1.5 billion.
Robinhood's Prediction Market Revenue Projected to Reach $1.7 Billion by 2028, Surpassing Crypto Business
Odaily reports: Digital trading platform Robinhood Markets' prediction market revenue is projected to reach $1.7 billion by 2028, exceeding the estimated $1.6 billion in crypto business revenue for the same period. Bernstein analysts expect prediction market revenue to grow from approximately $650 million this year to $1.7 billion by 2028, accounting for about 18% of the company's projected total revenue of $9.4 billion that year.Bernstein has raised its revenue estimates for Robinhood in 2026, 2027, and 2028 by 3%, 4%, and 3% respectively, while maintaining its $160 price target unchanged. Analysts expect the company's third-quarter revenue to grow 13% quarter-over-quarter to approximately $1.5 billion, driven by growth in equity notional trading volume, options trading volume, and event contract trading volume, as well as a recovery in crypto trading volume. (Cointelegraph)
Underdog plans to support crypto and stablecoin deposits within the year; acquisition deal worth up to $1.3 billion pending completion
Odaily reports: Prediction market operator Underdog has partnered with crypto infrastructure provider zerohash, planning to support cryptocurrency and stablecoin deposits later this year. Eligible users will be able to deposit supported digital assets directly through the Underdog app, with the service supporting around-the-clock near-instant transfers.Underdog has not yet disclosed which specific cryptocurrencies or stablecoins will be supported. The new deposit method will complement debit cards, credit cards, Apple Pay, and bank transfers, eliminating the need for users to manage wallet addresses or select blockchain networks.Founded in 2020, Underdog currently has over 11 million registered accounts. IG Group has agreed to acquire the company for up to $1.3 billion, with the deal expected to close in late 2026 or early 2027; in the 30 days ending October 21, Underdog's trading volume reached $1.4 billion, up 133% from the previous period. (Cointelegraph)
DWF Labs: Bitcoin Spot ETF Fund Flows Lag Behind Price Action, Making Future Trends Hard to Predict
In a research report released on Thursday, DWF Labs pointed out that daily fund flows of U.S. spot Bitcoin ETFs are poor predictors of Bitcoin's subsequent price movements, as investors tend to buy after prices rise and withdraw funds when prices fall. The study covered 694 trading days since the launch of U.S. spot Bitcoin ETFs in January 2024: in the 8 instances where Bitcoin's price dropped by 15%, net ETF outflows occurred 7 times; while in all 9 instances where prices rose by 15%, net inflows occurred. DWF Labs concluded that ETF fund flows are more of a confirmation of market trends rather than a leading indicator.Data shows that the correlation coefficient between same-day ETF fund flows and Bitcoin price changes over the previous 5 trading days was 0.54, but the correlation coefficient with price changes over the subsequent 5 trading days was only 0.03. Between October 2025 and February 2026, Bitcoin ETFs saw net outflows of approximately $6.9 billion, and during the market downturn from May to June 2026, net outflows reached approximately $8.2 billion. DWF Labs also noted that some ETF trading may involve hedging strategies that combine buying fund shares with shorting Bitcoin via CME futures, meaning fund flows do not directly reflect investors' true bullish or bearish positions. (Cointelegraph)
CertiK Warns Crypto Apps Still Face eMudhra Certificate Vulnerability Risks
Odaily reports: Blockchain security firm CertiK stated that although Google, Apple, and Microsoft have blocked 8 affected certificates issued by Indian digital certificate authority eMudhra, crypto trading bots and exchange applications may still be exposed to related vulnerability risks, as browser remediation measures may not cover software that uses independent security systems.Peiyu Wang, Senior Director of Digital Asset Security at CertiK, noted that attackers could exploit compromised certificates to impersonate exchanges, wallet interfaces, and APIs, replace deposit addresses, or trick users into approving malicious transactions. However, such attacks would also require intercepting or redirecting network traffic, and the compromised certificate authority keys alone cannot expose wallet private keys. Crypto service operators should update their software and certificate trust stores, and confirm that their applications reject the affected certificates. (Cointelegraph)
Bitget to Cease Services for Certain Users, Involving $388 Million Security Incident
Odaily reports: Cryptocurrency exchange Bitget has announced that it will cease providing services to certain users through a one-time measure. Bitget stated that user funds remain safe during the related service adjustments, and the platform will continue to operate.Affected users will receive follow-up steps, relevant deadlines, and fund withdrawal arrangements via email, in-app messages, and/or push notifications. Users who have not received official notifications from Bitget may continue to use their accounts normally.Bitget's customer support team will assist users with pending orders, withdrawals, and other account issues during the process, and reminds users to use only official channels and to beware of phishing links, impersonation accounts, and unverified information.On September 25, Bitget confirmed an unauthorized transfer and temporarily suspended withdrawals to investigate a security breach. Subsequent disclosures revealed that the incident involved approximately $388 million in stolen assets. (Cointelegraph)
Binance Responds to Suspected Theft: Under Investigation, Impact on User Funds Not Yet Confirmed
A Binance spokesperson told Cointelegraph that it is investigating a potential security issue with an Ethereum wallet. The security team is reviewing related activities, and no impact on user funds has been confirmed at this time.
Immunefi CEO warns PHP vulnerability could leave websites exploitable for weeks.
According to Cointelegraph, Immunefi CEO Mitchell Amador warned that internet users remain at risk of cyberattacks originating from PHP vulnerabilities, particularly on smaller websites that have been slow to apply the upgrade patches released last Wednesday, which could take weeks to complete the updates. He described it as an orchestrated "vulnerability doomsday," characterized by low costs to discover vulnerabilities and high costs to patch them. Amador advised treating any website requiring a login as potentially compromised over the coming weeks, avoiding password reuse, exercising caution when connecting crypto wallets to sites, and revoking unrecognized token approvals. The PHP Foundation previously acknowledged that resource shortages delayed the fix for a critical security vulnerability first identified in 2024. While PHP developers issued emergency patches for two critical vulnerabilities on the same day, websites must still manually apply the updates. Cloudflare CEO Matthew Prince noted that millions of exploitation attempts were recorded across the web within 24 hours of the disclosure, with thousands already underway prior to the announcement. W3Techs estimates that PHP supports approximately 69% of websites using known server-side programming languages. The FBI Cyber Division warned that the flaw could allow malicious actors to "remotely execute code within the PHP core, potentially compromising sensitive data and networks."
Bitcoin Core Updates Vulnerability Disclosure Policy, Easily Discoverable Vulnerabilities Will Be Fixed Promptly and Announced Simultaneously
According to Cointelegraph, Bitcoin Core developer Antoine Poinsot stated on Thursday on the bitcoin-dev mailing list that large language models (LLMs) have made certain software vulnerabilities extremely easy to rediscover. Maintaining long-term secrecy is already of limited value and instead delays the release of patched versions, prompting the team to update its vulnerability disclosure policy. The new policy dictates that "easily discoverable" vulnerabilities, which can be identified with minimal cost such as through simple LLM prompts, will be patched as soon as possible across all supported major versions, alongside the simultaneous release of security advisories. Other vulnerabilities will continue to be disclosed based on severity: low-severity vulnerabilities will be disclosed two weeks after the release of the major version containing the fix; medium-to-high-severity vulnerabilities will be disclosed two weeks after the end-of-life (EOL) of the last affected version, typically around one year after the patch release; critical vulnerabilities will be handled through a dedicated process.
Bitcoin Core Adjusts Security Vulnerability Disclosure Policy, Vulnerabilities Easily Found by AI to Be Fixed Promptly
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)
PHP Foundation acknowledges "structural failure" led to delayed critical vulnerability fixes, with multiple government websites going offline as a precaution.
According to Cointelegraph, the PHP Foundation admitted that a critical security vulnerability discovered as early as 2024 has yet to be patched due to flawed decision-making processes and understaffing within the security team, calling the delay a structural failure. The vulnerability could allow unauthenticated attackers to remotely execute code on affected servers. On August 11, security firm Calif and OpenAI independently reported the same issue, with Calif also demonstrating unconditional remote code execution, prompting the matter to be elevated to the highest security priority. PHP released emergency patches for two related critical vulnerabilities on Wednesday. Around the time of the patch release, government websites or services in the Netherlands, Finland, France, Germany, and Australia were temporarily taken offline, with the Netherlands shutting down its digital identity service. The Wikimedia Foundation also took some supporting services offline, causing disruptions to certain Wikipedia features. Japanese Prime Minister Sanae Takaichi called on website operators to install the patches as soon as possible. In the crypto sector, monitoring by SlowMist's MistEye service found that out of 1,488 evaluated domains, 793 showed direct PHP fingerprints. Cardano governance organization Intersect temporarily took its member portal offline. Both Coinbase and BitGo stated that their platforms were unaffected. Binance co-founder Changpeng Zhao advised users to exercise extreme caution when visiting websites over the next few days. PHP security team
PHP Foundation Admits Structural Failures, Critical Security Vulnerability Fixes Delayed
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)
French Senate Passes Bill on Automatic Exchange of Crypto Asset Tax Information
Odaily reports: The French Senate has passed a bill on first reading authorizing tax authorities to automatically exchange crypto asset transaction data with foreign counterpart agencies. The bill has subsequently been submitted to the National Assembly for review as Bill No. 3421 and still needs to complete the legislative process.The bill covers agreements on the exchange of crypto asset tax information and updates existing agreements on the exchange of financial account information. The crypto asset portion is based on the Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development, which sets common standards for collecting and automatically exchanging crypto transaction information for participating jurisdictions.France has already implemented the EU's Eighth Amendment to the Administrative Cooperation Directive (DAC8) through its 2025 finance bill, requiring crypto service providers to report client identity and transaction data to tax authorities, which then share the information with the EU country where the user resides. French lawmakers are also discussing crypto tax adjustments in the 2027 budget. An amendment passed by the National Assembly on October 16 proposes taxing gains from conversions into specific fiat-pegged stablecoins starting January 1, 2027, but the measure has not yet become law. (Cointelegraph)
Bank of England Opens Consultation on Clearing Tokenized Collateral
the Bank of England (BoE) has opened a consultation on central counterparties (CCPs) accepting digital representations of eligible collateral, and stated that current rules already permit the use of such assets when they meet clearing standards. The proposed supervisory statement will clarify what CCPs need to address when submitting applications under the existing approval process, without creating new regulatory obligations.The Bank of England stated that tokenized collateral must remain capable of valuation, transfer, and liquidation under stress scenarios, and that faster cross-jurisdictional asset transfers could help firms meet margin requirements. The consultation will close on February 12, 2027, and the central bank expects to publish its policy response and related rules later this quarter. (Cointelegraph)
$45 Million Committed to Support Phase, Unlimit Founder Helps Blockchain Mainnet Launch
Phase has announced the launch of its blockchain mainnet and has secured a $45 million funding commitment from Kirill Eves, founder of payment company Unlimit. Phase stated that it has no external investors; the commitment covers the project's first two years of development and provides funding support for the following two years. (Cointelegraph)
Gate Money connects banks and payment networks, with compliant arrangements across multiple jurisdictions supporting service delivery
Odaily reports: Gate Money connects account payments, asset exchange, and everyday spending, with its services underpinned by collaboration among international banks, payment institutions, custody providers, and clearing institutions. Eligible users can use bank accounts in their own name to manage fiat funds by currency, process deposits and withdrawals, and send and receive digital assets through supported blockchain networks. The availability of each feature depends on local regulatory requirements, the service capabilities of partner institutions, and user eligibility.On the compliance front, Gate has obtained a MiCA license and a Payment Institution (PI) license in the EU, its Dubai entity has obtained a VARA license, and its Australian entity has completed AUSTRAC registration as a digital currency exchange provider, with these qualifications applying to the respective entities and approved business activities. Gate US holds 37 state-level Money Transmitter Licenses (MTLs), covering 47 U.S. states and territories. On asset transparency, Gate's latest proof of reserves shows that the platform's total reserve size has risen to USD 8.688 billion, with an overall reserve coverage ratio of 118.49%; BTC reserves reached 25,727, with a reserve ratio of 121.60%; ETH reserves stood at 449,042, with a reserve ratio of 123.78%. Collaboration with financial institutions, compliance qualifications, and verifiable reserves together form the foundation of Gate Money's services, supporting the platform in meeting fund payment and asset management needs beyond trading. (Cointelegraph)
Euronext Suspends Listing and Trading of CoinShares Zcash ETP
European stock exchange operator Euronext has suspended the listing and trading of the CoinShares Zcash ETP until further notice. The product was originally scheduled to begin trading on Wednesday on Euronext Paris, but the suspension is due to settlement operational requirements not yet being met.Euronext stated that trading will only resume once the Central Securities Depository (CSD) is able to fully support standard settlement operations. This suspension delays the listing of Europe's fourth Zcash-based ETP. (Cointelegraph)
Robinhood CEO Says US Tokenized Market Needs Long-Term Regulatory Rules
Odaily reports: Vlad Tenev, CEO of fintech company Robinhood, said the US tokenized market needs more durable regulatory rules. On the company's third-quarter earnings call, he stated that the US Securities and Exchange Commission (SEC)'s innovation exemption is a positive step, but uncertainty in regulatory rules could deter investors from committing substantial assets to the tokenized market.Tenev said that establishing further rules or passing legislation would help provide long-term regulatory certainty. Robinhood plans to launch tokenized private company equity products overseas; in the US, the company is seeking a compliant path that fits within existing investor accreditation restrictions.Robinhood currently offers about 200 tokenized equities, backed by underlying shares, but the products are structured as tokenized debt securities and do not carry the same shareholder rights as traditional stocks, and therefore do not meet the SEC's innovation exemption requirements. In the third quarter, the company's crypto revenue fell 55% year-over-year to $120 million, while crypto notional trading volume dropped 38% to $50 billion. (Cointelegraph)
Related news
Tether Partners with Crypto Exchange CoinW to Launch "Tether's Ark"
Stablecoin issuer Tether has announced a strategic partnership with global cryptocurrency exchange CoinW, with the two parties set to jointly launch the "Tether's Ark" project. Official details regarding the project's specific features and implementation have not yet been disclosed. (Cointelegraph)
Strategy Says It Can Create Up to $30 Billion in Digital Credit to Buy More Bitcoin
Odaily Report: Bitcoin treasury company Strategy is considering issuing preferred stock to finance additional Bitcoin purchases. Executive Chairman Michael Saylor said the company can create up to $30 billion in digital credit based on its existing balance sheet, without issuing additional common stock or requiring Bitcoin's price to continue rising.CEO Phong Le said that issuing digital credit will be Strategy's primary method for acquiring more Bitcoin; if the company raises $1 billion to $2 billion through STRC in a month, part of the funds could be allocated to USD reserves, with the remainder used to purchase Bitcoin.Strategy reported third-quarter net income of $19.53 billion, primarily driven by a $20.91 billion increase in the value of digital assets. As of October 25, the company held 848,517 Bitcoin, up 26% year-to-date. The $30 billion figure represents potential financing capacity, not a publicly announced fundraising target. (Cointelegraph)
Anthropic Going Public Could Create 4,257 Millionaires, With 7 Co-Founders Potentially Worth $28 Billion
According to Cointelegraph, estimates from private market platform Hill suggest that if Anthropic proceeds with an IPO, it could make 4,257 people millionaires. Approximately 50 employees could see their wealth exceed $100 million, 1,200 individuals could reach between $10 million and $99 million, and roughly 3,000 people could see their wealth reach between $1 million and $9 million. Anthropic’s seven co-founders are already billionaires, with each potentially reaching an individual net worth of around $28 billion following the public listing.
Binance Responds to Suspected Theft: Under Investigation, Impact on User Funds Not Yet Confirmed
A Binance spokesperson told Cointelegraph that it is investigating a potential security issue with an Ethereum wallet. The security team is reviewing related activities, and no impact on user funds has been confirmed at this time.
KuCoin Suspends Services for Russian and Belarusian Users, Provides Asset Withdrawal Process
Odaily reports: Cryptocurrency exchange KuCoin has announced the immediate suspension of all products and services for users in Russia and Belarus, citing legal and regulatory compliance considerations. KuCoin will provide an orderly exit process allowing users to withdraw their assets.On Thursday, the Bank of Russia approved the National Association of Securities Market Participants (NAUFOR) as a self-regulatory organization for cryptocurrency exchanges and custodians. The central bank's register currently lists 23 cryptocurrency exchanges and 8 digital asset custodians, and registered entities must join a self-regulatory organization within 90 days. (Cointelegraph)
French Senate Passes Bill on Automatic Exchange of Crypto Asset Tax Information
Odaily reports: The French Senate has passed a bill on first reading authorizing tax authorities to automatically exchange crypto asset transaction data with foreign counterpart agencies. The bill has subsequently been submitted to the National Assembly for review as Bill No. 3421 and still needs to complete the legislative process.The bill covers agreements on the exchange of crypto asset tax information and updates existing agreements on the exchange of financial account information. The crypto asset portion is based on the Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development, which sets common standards for collecting and automatically exchanging crypto transaction information for participating jurisdictions.France has already implemented the EU's Eighth Amendment to the Administrative Cooperation Directive (DAC8) through its 2025 finance bill, requiring crypto service providers to report client identity and transaction data to tax authorities, which then share the information with the EU country where the user resides. French lawmakers are also discussing crypto tax adjustments in the 2027 budget. An amendment passed by the National Assembly on October 16 proposes taxing gains from conversions into specific fiat-pegged stablecoins starting January 1, 2027, but the measure has not yet become law. (Cointelegraph)