News linked to both this project and an event.
Odaily reports: Artificial intelligence inference company Baseten has announced the launch of a new $2 billion funding round at a valuation of up to $30 billion, with existing investor Sands Capital expected to lead the round. Founded in 2019, Baseten primarily provides enterprises with an AI model deployment and inference platform to help businesses run various AI models. In June of this year, it completed a $1.5 billion funding round at a valuation of $13 billion at the time. Its competitor Fireworks AI completed a $1.5 billion funding round in July of this year at a valuation of $17.5 billion. It is reported that Nvidia invested $150 million in Baseten in January of this year, stepping up its active positioning in the AI inference sector. (Bloomberg)
Odaily reports: On October 31, 2008, Satoshi Nakamoto released the Bitcoin whitepaper, proposing a peer-to-peer electronic payment system that requires no participation from banks or central institutions. Over the past 18 years, Bitcoin has evolved from a fringe experiment on the early dark web and forums into an asset class recognized by Wall Street and institutional investors. As recently as last October, $19 billion in leveraged positions were liquidated in a single day, and the 2022 crypto winter wiped out more than $2 trillion in digital asset market value. On the 18th anniversary of the Bitcoin whitepaper's release, Bitcoin's price is hovering near $80,000, facing its worst month since June.Today, BlackRock's Bitcoin ETF has reached approximately $66 billion in assets, multiple public companies have added Bitcoin to their balance sheets, and traditional financial institutions are actively building out stablecoins, asset tokenization, and blockchain-based financial infrastructure. Yet this development brings a certain irony: Bitcoin was originally designed to challenge the centralized financial system, but is now increasingly being embraced by traditional financial institutions. (Bloomberg)
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 reports: According to Bitfinex analysis, Strategy shareholders voted on October 28 to approve a proposal for daily dividend payments on STRC preferred stock, with preliminary results showing 99.3% of votes in favor. STRC is expected to shift from semi-monthly dividend payments to daily dividend payments starting November 1, with the first cash dividend payment arriving on November 2; Strategy's other three preferred stocks, STRF, STRK, and STRD, are expected to follow suit in January 2027.Strategy's move aims to reduce price volatility around ex-dividend dates. Company CEO Phong Le stated that previously, when STRC paid dividends monthly, prices fell by an average of about 49 basis points around the ex-dividend date, which dropped to about 36 basis points after switching to semi-monthly payments. The company expects that daily dividend payments will further disperse selling pressure and improve price stability.This model was not pioneered by Strategy. Bitcoin treasury company Strive converted its SATA preferred stock to daily dividend payments in June of this year and launched a subordinated preferred stock, SATS, with a fixed annual dividend rate of 15%. In October, Strive issued 7 million shares of SATS at $90 per share, raising approximately $630 million, and used about $511 million of that to purchase 6,182 BTC.
Odaily reports: Bitcoin mining company IREN has announced the completion of a $363 million financing facility arranged by Wingspire Equipment Finance, secured by AI computing equipment that is already operational and generating revenue, to refinance recently purchased GPU servers and networking equipment. The facility was provided by six lenders, with Eldridge Capital Management and Silver Point Capital making major funding commitments. The financing is primarily secured by the relevant equipment and supported by multi-year customer contracts, with specific interest rates and terms not yet disclosed.This refinancing will help IREN recover capital already invested in operational infrastructure for further expansion. IREN is transitioning from Bitcoin mining to AI cloud services. Its AI cloud business revenue for the fiscal year ending June 30, 2026, reached $128.8 million, up from $16.4 million in the previous fiscal year; Bitcoin mining revenue still reached $578.2 million. The company reported a net loss of $702.6 million for the same period, including $638.8 million in non-cash asset impairments primarily related to retired Bitcoin mining machines. (theenergymag)
The Mantle core contributors team has published the MIP-35 proposal on the Mantle Forum, which is currently in the discussion phase. The proposal outlines the core budget for the fourth budget cycle from July 2026 to June 2027, with an overall cap of 40 million USDx and 150 million MNT. This budget covers expenditures for personnel, administrative and general management costs, marketing and distribution, ecosystem projects, and infrastructure and security.
According to Wintermute's weekly market report, Bitcoin fell 2.43% last week, marking its third consecutive weekly decline, breaking below $82,500 and retesting $80,000 before closing at approximately $80,500. ETH dropped 3.40%, closing at around $2,330. U.S. spot Bitcoin ETFs recorded a net outflow of $636 million on Thursday, the largest single-day outflow since June, coinciding with a 2.6% drop in the Nasdaq on the same day. On the macro front, following Houthi attacks on Saudi oil infrastructure, Brent crude surged 5.66% to $116.72, with oil prices displacing AI financing as the primary market concern. Wintermute noted that as of October 18, markets price in roughly an 86% probability that the Federal Reserve will hold rates steady this Wednesday, alongside expectations for a December rate hike. The Fed's forward guidance regarding December represents the key risk. Technically, BTC must reclaim the $82,000–$82,500 zone. Should the $80,000 level fail, the next support sits at $76,000, with a breakdown likely pushing prices to just over $70,000. The firm stated it is temporarily not taking a bearish view but will remain cautious until the FOMC meeting concludes and BTC reclaims $82,500. Key upcoming events include the October 28 FOMC meeting, October 29 reports for Q3 GDP and September PCE data, and the October 30 monthly options expiration.
Odaily Report: The French Ministry of Finance, the Financial Markets Authority (AMF), the Bank of France, and the Prudential Supervision and Resolution Authority (ACPR) have jointly recommended to the European Commission that crypto platforms and other third parties be allowed to distribute rewards to stablecoin holders when specific conditions are met. The four institutions believe that such rewards should be regulated rather than banned outright.The four institutions proposed that platforms should disclose reward information to holders, must not promise guaranteed returns, and should not market rewards as savings products; regulators should also monitor the impact of rewards on bank deposits. France continues to support banning stablecoin issuers from paying interest, but opposes extending the ban to staking and lending activities.The European Central Bank and EU national central banks, meanwhile, advocate maintaining the ban on stablecoin interest and bringing indirect benefits such as rewards and fee waivers, as well as activities including lending and staking, within the scope of restrictions. The European Commission must submit a review report on the Markets in Crypto-Assets Regulation (MiCA) to EU legislative bodies by June 30, 2027, and may propose amendments. (Bitcoin.com News)
According to The Block, Galaxy Research stated in a report released on October 26 that the Bitcoin bear market ended in June and that the current moment presents an attractive opportunity to buy and hold. The report notes that as of October 18, Bitcoin had closed above its 50-week moving average for five consecutive weeks, breaking a prior streak of 44 consecutive weeks below the level. Meanwhile, the monthly average volume transacted from long-term holding wallets dropped from 67,000 BTC in 2024 to 34,000 BTC in 2026. Galaxy’s head of research, Alex Thorn, cautioned that this bullish thesis would face challenges if Bitcoin records a weekly close below the $76,540 50-week moving average and fails to reclaim it within a month.
As reported by Cryptopolitan, Token Terminal data shows that the deposit volume of tokenized stocks in DeFi protocols has exceeded $300 million, up from $262 million last month and reflecting a 2,451.5% increase from approximately $11.8 million a year ago. The deposits are distributed across 20 issuers and 10 blockchains. The data indicates that the growth was primarily concentrated in the third quarter: starting at $80.1 million at the beginning of the quarter, it rose to $265 million on September 30, marking a quarterly increase of approximately 230%. This timeline aligns with Binance launching bStocks in June and Robinhood Chain going live in July. In terms of on-chain distribution, Solana leads with $102.6 million, accounting for a 34.2% share, with Robinhood Chain and Ethereum ranking second and third respectively. BNB Chain holds $42.8 million, Base holds $24.3 million, and the top five chains combined account for approximately 96%. Regarding issuers, xStocks accounts for over 39%, Robinhood holds $70.8 million, Binance bStocks holds $38.4 million, and Ondo Finance holds $3.4 million.
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)
On June 15, the Supreme People's Procuratorate published a theoretical article stating that virtual currency perpetual contract platforms should be subject to piercing-style review: any platform that lacks genuine external order matching, settles internally, has operators acting as the house, and whose profits and losses depend on market price fluctuations should be identified as an online gambling platform and characterized as the crime of running a casino; the defense raised by platforms that they "cite public market data" does not hold. The article states that the crime of illegal business operations applies only to intermediary models with genuine external order matching and no house betting against users; currently, more than 95% of platforms on the market are internal betting operations, and actual controllers as well as technical development, operations and promotion, and fund settlement personnel may all be held accountable. Such transactions constitute invalid civil juristic acts; investors' claims for return of principal and payment of returns will in principle not be supported, and losses shall be borne by themselves.
Odaily reports: SpaceX released its third-quarter financial results after the U.S. stock market closed early this morning. During the investor call following the earnings release, analyst Adam Jonas asked Elon Musk about "whether SpaceX has already purchased lithography equipment and the progress of its in-house chip manufacturing."Elon Musk responded: "We are still figuring out chip manufacturing technology. I can share our internal expectations, though these expectations obviously carry great uncertainty, because we don't yet know whether we can actually achieve the goal. But our internal target right now is to try to produce the first fully functional test chip around May or June of next year. It will only be something like an SRAM chip, mainly used to test the entire production line. It will be completed at our research fab in Austin. Our goal is to achieve large-scale mass production at the Terafab main site at Gibbons Creek by the third quarter of 2028. Of course, these timelines are very aggressive. To achieve this goal, we are very grateful to ASML and all other suppliers for their support in accelerating equipment delivery."
Odaily reports: Optimum has announced that its block propagation software mump2p has officially launched on the Ethereum mainnet. ether.fi previously offered the software as an optional feature, but has now mandated its adoption across all 12 of its node operators. Currently, a total of 16 node operators are running mump2p in production environments, collectively managing approximately 22,000 validator keys and over 1.4 million staked ETH, accounting for more than 3% of Ethereum's total staked supply. Partners include Blockdaemon, Everstake, P2P.org, Stakefish, and Bitcoin Suisse.mump2p operates as a sidecar gateway, rather than replacing Ethereum's default GossipSub, it layers on top of libp2p and uses random linear network coding technology. Optimum claims that mump2p achieves block arrival speeds 2.42 times faster than GossipSub, with arrival time variance reduced by approximately 7.88 times. Optimum is led by MIT professor Muriel Médard and launched its private testnet in June 2025. The company previously completed an $11 million seed round led by 1kx and plans to expand to other high-throughput blockchains beyond Ethereum.
Odaily reports: Prediction market platforms Kalshi and Polymarket expanded ahead of the US midterm elections in November, with combined monthly trading volume reaching $53 billion in July, more than double the $26 billion recorded in May, with trading concentrated primarily in sports.Political trading accounted for a relatively small share, with Polymarket averaging about $2 billion per month this year and Kalshi under $300 million; as of July, trading volume around which party controls the House and Senate had exceeded $30 million.The US Commodity Futures Trading Commission (CFTC) had previously prohibited Kalshi from listing congressional control contracts and at one point proposed classifying election contracts as gambling. The agency withdrew the relevant proposal in February and on June 10 published a structured event contract framework proposal that would not classify elections as gambling. Kalshi launched its Midterms Hub the same month, displaying traders' implied probabilities for individual districts alongside polling averages.Chuck Todd, former NBC News political director and former host of Meet the Press, will host the NEXTPredict summit in New York on October 22–23. He said he hopes to understand the extent to which pollsters and prediction markets need and influence each other, and whether trading is used for hedging or entertainment. Research by the Anti-Corruption Data Collective found that a $3,500 bet could move 97% of midterm election-related market prices by at least 5 cents; Morgan Stanley, after studying more than 72 million Kalshi trades, found that prices closely tracked outcomes. (Decrypt)
Odaily — Stablecoin issuer Circle reported approximately $1.4 billion in revenue for the first half of 2026, of which about $819 million (59%) was paid to USDC distribution partners and for transaction costs, while another $473 million (approximately 34%) went toward licensing, banking partnerships, liquidity, compliance, and other expenses.Circle's net profit for the first half accounted for approximately 7% of revenue. Circle stated that the company holds more than 55 licenses and registrations, has partnerships with over 25 banks, and has deployed native USDC on more than 35 blockchains.Circle Payments Network users and eligible Circle Platform customers can redeem USDC free of charge on a near-real-time basis, 24/7 year-round, with standard redemptions typically completed within two business days. Circle minted and redeemed over $315 billion in USDC during the first half.USDC on-chain transaction volume exceeded $36 trillion in the first half of 2026, accounting for approximately 77% of global stablecoin transaction volume in June; minting and redemption volume reached $170 billion in the second quarter, up 105% year-over-year. (Bitcoin.com News)
Aster officially announced that during the period from 00:00 UTC on October 5, 2026 to 00:00 UTC on October 19, 2026, 99% of the platform's daily fees were used for buybacks, with a total of 2.7217 million ASTER repurchased for use by stakers; an equivalent amount of team-allocated ASTER tokens was also burned. Since adopting the upgraded tokenomics model on June 17, 2026, the cumulative burn of ASTER has reached 32.3079 million tokens, bringing the project's all-time cumulative burn to 210 million tokens. As of October 19, Aster's estimated staking annualized yields are: 4.53% for a 26-week lock-up and 24.8% for a 208-week lock-up; actual yields may vary.
Odaily reports: Circle disclosed that in the first half of 2026, USDC retained only 7 cents of net profit per $1 of revenue. According to a blog post published on October 16 by Circle Chief Business Officer Kash Razzaghi, Circle generated approximately $1.4 billion in revenue and reserve income in the first half of the year, of which $819 million was distributed to distribution partners and used for transaction costs, equivalent to about 59 cents per dollar of revenue. Circle stated that the low revenue retention rate demonstrates the sustainability of its model, and said that competitors' higher revenue-sharing ratios mean they are saving costs on underlying infrastructure.Circle holds more than 55 licenses and partners with over 25 banks, with more than 150 partners participating in the USDC economic revenue share. In the first half of 2026, USDC on-chain transaction volume exceeded $36 trillion; in June 2026, USDC's share of global stablecoin transaction volume rose to 77%, up from 60% in the same period the previous year. Open USD launched in June 2026, featuring free minting and redemption, and distributes reserve income directly to participants.
According to Bank for International Settlements (BIS) Working Paper No. 1382, BIS economists Iñaki Aldasoro and Rashad Ahmed of the Andersen Centre for Financial and Economic Studies published a study examining whether stablecoins and bank deposits act as substitutes. Using U.S. weekly data from January 2019 through June 2025, the study applies the local projection method to estimate how stablecoin market capitalization responds to changes in deposit interest rates. The results indicate that rising deposit interest rates forecast a deceleration in stablecoin growth. In the context of an average ten-week stablecoin growth of 15%, OLS estimates indicate that each 1-basis-point increase in deposit rates reduces the growth rate by approximately 3 percentage points, bringing it down to around 12%. By leveraging the nonlinear dynamic where bank deposit pricing becomes more responsive once the federal funds rate surpasses approximately 3% as an instrumental variable, the estimated effect expands to roughly 9 percentage points, pushing the growth rate down to about 6%. Placebo tests on non-stablecoin cryptocurrency assets reveal no comparable effects.
Odaily reports: Solana has gone two consecutive years without reporting a mainnet outage. A report from Fidelity's Applied Technology Center (FCAT) notes that its network health has made progress across resilience, economic security, and performance metrics.The report notes that higher staking participation and incentive mechanisms rewarding validator performance underpin Solana's economic security, while low latency, improved scalability, and low-cost transactions also support its adoption at scale.The report also states that staking concentration among a small number of validator identities and operators, as well as concentration in custody and client software, still require continued observation. Jacob Creech, VP of Technology at the Solana Foundation, said that Solana reduced slot times to 350 milliseconds on August 21; the foundation announced plans in June to further reduce this to 200 milliseconds, with three additional 50-millisecond adjustments to follow. (Cointelegraph)