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Treasury is an emerging euro-denominated Bitcoin treasury company. With Bitcoin as the digital gold benchmark, we are building a transparent, liquid, and institutional-grade structure for Bitcoin exposure in Europe.
BlackRock Fixed Income CIO: Quality AI Bonds More Attractive Than U.S. Treasuries
According to Yonhap News Agency, Rick Reed, Global Fixed Income Chief Investment Officer at BlackRock, the world's largest asset manager, stated that the recent scale of debt financing for AI infrastructure expansion is unprecedented, with related bonds offering greater appeal than US long-term Treasuries. In an interview with Bloomberg TV on Oct. 27, Reed noted that the magnitude of financing in bond and equity markets is unprecedented, describing the current environment as the most attractive investment period he has experienced. He highlighted a focus on high-quality bonds issued to finance GPUs, data centers, and other AI infrastructure, adding that the massive scale of new corporate issuance has made interest rate conditions superior to past years. He pointed out that while the US 10-year Treasury yield has exceeded 5%, it has been sidelined by other market instruments, with Treasuries increasingly viewed merely as a "market barometer" for equities. Investors can secure yields of roughly 7% by purchasing short-duration, single-A bonds, effectively avoiding the duration risk associated with long-dated Treasuries. He also expressed a preference for secured bonds issued by creditworthy corporates or cash-flow-generating assets, while maintaining that valuations in the semiconductor and computing sectors remain reasonably priced. Hyperscale data center operators are currently issuing the largest volume of corporate debt in history, raising hundreds of billions of dollars and absorbing capital that would otherwise flow into government bonds, thereby becoming one of the primary drivers pushing up US Treasury yields. Globally, AI-related high-quality financing has already surpassed $300 billion this year, roughly triple the total for all of last year.
Bitcoin treasury company shifts to high-yield financing, Strive's preferred stock effective yield nears 17%
Odaily report: As the financing models of Bitcoin treasury companies Strategy and Strive come under pressure, related companies are attracting investors by offering higher-yield preferred stock to sustain their crypto asset accumulation strategies. Strategy's STRC preferred stock, which carries a 12% annualized dividend rate, has not been issued again since its price decline in June. The company is now seeking to promote daily dividend payments and continues to raise funds by issuing additional common stock to buy Bitcoin, resulting in equity dilution for existing shareholders.Bitcoin treasury company Strive disclosed that it has completed a $630 million preferred stock offering, with the fundraising scale about 25% higher than initially planned. The preferred stock carries a nominal annualized yield of 15% and was issued at a discount, with an effective yield of nearly 17%, far exceeding the yield on one-year high-grade U.S. Treasury bonds and approaching the returns on distressed debt. (Bloomberg)
Core Warning on US Stock Market Topping: Slumping Asian Chip Exports May Signal an Early Capex Peak; Once Earnings Expectations Reverse, High Yields Will Crush Valuations
Bloomberg macro strategist Simon White notes that the key to whether US equities can continue to rise lies not in the level of Treasury yields, but in Asian semiconductor supply chain data. The current resilience of US stocks is primarily underpinned by an exceptional projected earnings growth rate of up to 40% for the S&P 500 index over the next three years. The impact of high discount rates is temporarily offset by strong revenue and margin expectations, and the current rise in yields is driven by real interest rates reflecting actual economic growth, which have not yet posed a substantive threat to the stock market.
BNY Mellon and Castle Securities Complete Tokenized U.S. Treasury Triparty Repo Transaction
According to an official announcement, Bank of New York Mellon (BNY) and Citadel Securities have completed a tri-party repo process using tokenized U.S. Treasuries, marking the first use of tokenized assets on a major tri-party platform. In the transaction, a two-year U.S. Treasury bond purchased by Citadel Securities was recorded as a tokenized security on BNY’s private distributed ledger and settled within minutes, breaking the traditional T+1 settlement cycle. Subsequently, the tokenized Treasury was used as collateral for an overnight tri-party repo, with BNY providing the corresponding funding. BNY stated that it plans to launch digital cash and tokenized deposit features in the future to support institutional clients in conducting on-chain settlement and financing activities, and intends to extend operating hours for its traditional settlement platforms.
Bloomberg: Tencent plans to launch open-source model Hy4 later in 2026
According to Bloomberg, Tencent plans to launch the open-source model Hy4 later in 2026. Additionally, sources familiar with the matter revealed that Tencent Holdings has launched a US dollar and offshore RMB bond issuance program, targeting approximately $5 billion in financing. Tencent plans to issue 10-year and 20-year USD bonds, with initial indicative spreads of approximately 115 and 140 basis points over comparable US Treasury yields, respectively.
BlackRock Ends Nearly Six-Year Underweight Stance on US Treasuries, Downgrades US Equities from Overweight to Neutral
Odaily News: The BlackRock Investment Institute recently adjusted its US asset allocation, upgrading short-term US Treasuries to overweight, raising long-term US Treasuries from underweight to neutral, ending its nearly six-year underweight stance on US Treasuries. At the same time, the institute downgraded US equities from overweight to neutral and lowered its rating on US agency mortgage-backed securities (MBS).BlackRock stated that with US Treasury yields rising to their highest levels in more than two decades, current yields have become attractive, and market expectations for further Federal Reserve rate hikes may be excessively high. Currently, the interest rate swaps market reflects expectations of at least 75 basis points of rate hikes over the next 12 months.Regarding the downgrade of US equities, BlackRock pointed out that capital expenditure and financing needs driven by AI infrastructure buildout are increasing, which could exacerbate short-term volatility in US equities. However, the institute emphasized that this adjustment is aimed at managing near-term risks and does not mean a change in its core long-term bullish view on AI. (Jinshi)
South Africa’s Crypto Economy Grows 52% Over the Past Year to $39.3 Billion; Cross-Border Regulatory Draft May Be Revised
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.
Bessent: U.S. Treasury Will Bridge the Crypto Regulatory Gap Between SEC and CFTC
Odaily reports: U.S. Treasury Secretary Bessent stated that regardless of whether Congress takes action, the U.S. Treasury will push to bridge the cryptocurrency regulatory gap between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This statement indicates that even if relevant legislation stalls at the congressional level, the Treasury still plans to promote coordination of the two regulators' regulatory frameworks.
Sixth Meeting of the Hong Kong Fintech Project Executive Coordination Group: Fintech Week 2026 to Be Held from November 2 to 6
According to a press release from the Hong Kong Special Administrative Region Government, Mr. Joseph Sung, Secretary for Financial Services and the Treasury, chaired the sixth meeting of the Executive Steering Committee on Fintech Projects, exchanging views on various aspects of fintech, including the proposed regulatory regime for virtual asset trading, custody, advisory and management services. The Hong Kong Monetary Authority also reported on the Ensemble project and the quantum readiness of Hong Kong's banking sector.
Stablecoin Regulatory Rules Finalized, OCC Advances GENIUS Act Implementation
Odaily reports: The U.S. Office of the Comptroller of the Currency (OCC) has finalized implementation rules for the GENIUS Act, applicable to permitted payment stablecoin issuers, foreign issuers under OCC jurisdiction, and certain custodial activities of regulated entities, covering reserve backing, redemption, and risk management. Treasury Secretary Scott Bessent called the legislation a "watershed moment for American finance," likening it to the National Currency Act of 1863. The final rules did not incorporate Bank Secrecy Act, anti-money laundering, or OFAC sanctions provisions; these matters will be addressed through subsequent rules coordinated with the Treasury Department. The GENIUS Act was signed into law in July 2025, and regulators failed to finalize rules before the July 18, 2026 deadline; the Federal Reserve proposed two related rules in September 2026. Both the GENIUS Act and the OCC's final rules are set to take effect on January 18, 2027, and the OCC has not yet announced a timeline for accepting issuer applications and exemption requests.
CMCC Global Plans to Partner with Tether and Bitfinex Securities to Issue Tokenized Bitcoin Fund
Odaily Report: Investment management firm CMCC Global plans to tokenize its two digital asset funds, Crest and the Liberty Bitcoin Accumulation Fund (LBAF), issuing and managing tokens through Tether's Hadron infrastructure, with distribution by Bitfinex Securities under El Salvador's digital asset framework. Both funds adopt a fund-of-funds structure: Crest is denominated in USD and aims to outperform U.S. Treasury yields; LBAF is denominated in Bitcoin and targets an annualized net return of 8% to 12% (in Bitcoin terms), with no guaranteed payments. The tokens represent economic rights to the underlying fund shares, are minted in proportion to the corresponding shares, and are burned upon redemption; issuance requires identity verification and anti-money laundering review, and is restricted to whitelisted addresses only. BTCS S.A. has agreed in principle to provide a three-digit Bitcoin-anchored allocation, with the specific size undisclosed; Crest is priced at $10 per token, and LBAF is priced at 0.0001 BTC per token.
U.S. SEC Announces FY 2027 Inspection Priorities, Focusing on Tokenization, Cybersecurity, and Advanced AI Technology Risks
The U.S. Securities and Exchange Commission (SEC) announced its inspection priorities for Fiscal Year 2027, continuing to conduct risk-based examinations of over 34,000 registered entities, focusing on investment advisers, funds, broker-dealers, clearing agencies, and other market participants. The SEC noted that Fiscal Year 2027 will emphasize investment adviser fiduciary duty and conflicts of interest, retail investor protection, private funds and private credit, broker anti-money laundering and trade surveillance, operational resilience, and cybersecurity. Emerging technologies and market infrastructure are also identified as key priorities. In particular, the SEC will monitor the impact of advanced technologies, including "superintelligence," on market operations, compliance, fraud prevention, and investor protection, while concurrently evaluating the risks associated with Treasury clearing reforms, tokenization, and related market structural changes.
South Africa’s Crypto Economy Grows 52% Over the Past Year to $39.3 Billion; Cross-Border Regulatory Draft May Be Revised
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.
Tech stock selloff sparks safe-haven demand, US Treasuries rally alongside global bonds
During Friday's Asian session, the rally in US Treasuries accelerated as American tech stocks were sold off and investors turned to US government bonds for safety. Yields across all tenors of US Treasuries fell by at least 3 basis points, extending the downward trend from the New York session. Bonds in Australia, Japan, and New Zealand followed suit, with their respective benchmark 10-year government bond yields falling more than 5 basis points. Safe-haven sentiment heated up following disappointing earnings from tech giants like Alphabet, further fueling market skepticism regarding the sustainability of the AI trade. In October, yields on the benchmark 10-year US Treasury have fallen nearly 40 basis points, poised to record a first monthly decline since February.
Tether transferred 500 million USDT to Binance
According to Whale Alert, at 01:28 Beijing Time, 500 million USDT (worth approximately $500 million) was transferred from Tether Treasury to Binance.
QCP: BTC Falls Below $80,000, This Week’s Tech Earnings and Fed Decision May Determine the Direction
According to QCP Capital market analysis reports, BTC fell below $80,000 over the weekend and is currently trading at the lower boundary of its recent range. Escalating tensions in the Middle East and ETF fund outflows later last week triggered leveraged long liquidations. QCP noted that the key variables this week are the FOMC meeting on Oct. 27-28 and earnings reports from major tech companies: Microsoft and Alphabet will report on Oct. 28, while Amazon will report on Oct. 29. Last week, Meta dropped 7% after raising its capital expenditure guidance, and the Nasdaq posted its worst single-day performance since June. The CME FedWatch Tool shows a 9% probability of a 25-basis-point rate hike in October and an approximately 84% probability in December. There will be no dot plot released with this meeting, and the market will focus on Fed Chair Walsh's press conference. The U.S. 10-year Treasury yield is approximately 4.96%. On the technical side, BTC support sits at $78,000, with resistance at $86,000 and further levels between $88,000 and $90,000. Glassnode data indicates that the cost basis for ETF holders and corporate treasuries ranges from $80,000 to $81,500. ETH support is at $2,150, with resistance at $2,500. The ETH/BTC ratio has fallen to approximately 0.029, and ETH ETFs recorded net outflows for the fourth consecutive week, totaling $220.7 million. Q
Funds Pour Into US Treasuries, Tech Stocks Sold Off
Multiple geopolitical and fiscal risks drive capital into US Treasuries, with the 10-year Treasury yield plunging 19.3 basis points in a single day, marking the largest daily move since March 2023.
Bloomberg ETF Analyst: Expects the Fed to Purchase Equity ETFs Through the Treasury in the Future
Odaily — Bloomberg ETF analyst Eric Balchunas posted on X that he wrote earlier this year predicting that the Federal Reserve would at some point in the future purchase equity ETFs through the Treasury in a similar manner. China and Japan are helping to gradually normalize this practice; he believes that within the next 5 to 10 years, the U.S. market may come to view it as a normal occurrence.
NEAR Community Proposal Proposes Reducing Maximum Annual Token Issuance Rate, Clarifies Security Incident Does Not Involve Native Token Vulnerabilities
NEAR Protocol announced on the X platform that Sal Ternullo, CEO of NEAR Treasury Company SVRN, has introduced a new proposal on the NEAR Governance Forum to reduce NEAR's annual maximum token issuance rate from 2.5% to 1.6% over a 24-month period, and lower the staking yield from the current approximately 5.4% to around 3.5%. The proposal is currently soliciting feedback from validators, House of Stake delegates, and NEAR community members, with a complete plan expected to be published next week for voting. Following the earlier NEAR Intents security incident, NEAR Protocol further clarified that the blockchain network is operating normally. The incident was not caused by any vulnerabilities in NEAR Protocol or its native NEAR token. The NEAR Protocol network continues to produce blocks and process transactions without experiencing downtime.
Senator Lummis accuses the Democratic Party of vetoing the offshore money laundering oversight bill.
Senator Cynthia Lummis (@SenLummis) posted that the U.S. Senate voted on the "Clarity Act," which aims to empower the Treasury Department to cut off money laundering activities conducted through offshore exchanges such as Binance. Lummis accused Democrats of voting against the bill, claiming they are unwilling to protect American citizens from the threat of offshore money laundering. Critics, however, pushed back, citing constitutional concerns and a corruption loophole targeting the current president as reasons for its defeat.
Ampleforth Faces Malicious Governance Proposal Attack, $2.5 Million USDC Treasury Funds at Risk
The GoPlus Chinese community released a security alert stating that on September 12, a newly activated external account address submitted a malicious governance proposal to Ampleforth. Under the guise of applying for funding for completed work on the SPOT ecosystem analytics tool, the proposal attempted to transfer 2.5 million USDC from the treasury to the proposer themselves, an amount that nearly comprised all of the treasury's liquid funds.
US Department of Justice Has Frozen Approximately $938 Million in Fraud-Related Crypto, With About $52 Million Added in a Single Day
Odaily News: In an operation targeting the Telegram crypto escrow trading platform Xinbi Guarantee, the U.S. Department of Justice's Scam Center Strike Force restricted the handling of approximately $52 million in fraud-related cryptocurrency in a single day, bringing the cumulative total to approximately $938 million. Previously, the cumulative amount frozen, seized, or recovered had already exceeded $580 million.The U.S. Department of the Treasury stated that since its founding around 2022, Xinbi Guarantee has processed over $24 billion in transactions, involving digital assets and fiat currency, primarily serving Southeast Asian transactions. North Korean hackers and sanctioned entities are alleged to have used the platform, including entities under Jin Bei Group and Prince Group.A U.S. federal court approved the seizure on September 7 of the Telegram channel operated by Xinbi Guarantee. Law enforcement authorities also seized two payment wallets totaling approximately $12 million and applied to freeze another 47 cryptocurrency wallets suspected of being used for money laundering or associated with fraud-related service providers.The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) added Xinbi Guarantee and its two supporting companies, Safew Technology and Anwen Technology, to its sanctions list on September 9. The U.S. Department of Justice also dispatched investigators to Madagascar to assist local law enforcement in cracking down on 13 scam compounds operated by Chinese nationals and to process over 3,200 electronic devices. (Bitcoin.com News)
UK NCA warns criminals are "innovatively" using crypto assets to launder money
According to Decrypt, the UK National Economic Crime Centre (NECC) stated in its annual report that criminals are "innovatively" leveraging crypto asset products to evade detection and transfer illicit funds at scale, while also highlighting AI alongside cryptocurrencies as an emerging threat method. Crypto assets have been ranked third among the nine priority economic crime areas jointly designated by NECC, the FCA, and the Treasury. NECC stated it will build more proactive, intelligence-driven crypto capabilities to actively identify targets for enforcement action. Previously, the NCA, in collaboration with the US Secret Service, Coinbase, Binance, Kraken, and Tether, conducted "Operation Atlantic," which identified 20,000 phishing attack victims and resulted in the freezing of $12 million in assets this March.
前美国国防部长呼吁参议院尽快通过 CLARITY 法案，称其为国家安全法案
According to Cointelegraph, former U.S. Secretary of Defense Mark Esper wrote in the Financial Times, calling on the Senate to pass the CLARITY Act as soon as possible and emphasizing that the bill is not only a financial services bill but also a national security bill. Esper pointed out that China is heavily investing in state-led payment systems to bypass U.S. regulation and undermine the dominance of the U.S. dollar, while weak digital asset regulatory rules also provide loopholes for North Korean hacking organizations such as the Lazarus Group to evade U.S. financial controls. He stated that the CLARITY Act will expand the Treasury Department's special measures authority under Section 311 of the USA PATRIOT Act and is a powerful weapon to combat malicious actors.
South Africa’s Crypto Economy Grows 52% Over the Past Year to $39.3 Billion; Cross-Border Regulatory Draft May Be Revised
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.
Fed Holding Rates Steady Already Priced In by Markets, Three Signals Could Shape Bitcoin's Trajectory
The Federal Reserve is about to announce its interest rate decision, after which Fed Chair Kevin Warsh will hold a press conference. Markets expect the Fed to keep the benchmark rate unchanged in the 3.75%–4% range, with investors focused on three key signals: first, whether three or more voting members dissent from holding rates steady and advocate for a hike; second, how Warsh assesses the recent easing of financial conditions and the pullback in U.S. Treasury yields; third, what he says about two consecutive months of above-expectation inflation data, oil prices near $100, and record-high U.S. diesel prices.If more officials signal a hawkish tilt, or if Warsh views looser financial conditions as exacerbating inflationary pressure, market expectations for future rate hikes could intensify, potentially lending support to the dollar index while weighing on risk assets such as Bitcoin. Ahead of the decision, Bitcoin stood at $81,411, up more than 2% over 24 hours; Ethereum, SOL, and XRP also posted gains of over 2% over the same period. (CoinDesk)
Protocol Gradually Shuts Down, Ducat Opens Treasury Asset Redemption
Ducat announced that the team has decided to gradually shut down the protocol. Ducat was originally designed to maintain a price floor through a related mechanism, but many participants never fully understood this mechanism. During the protocol shutdown period, the team will prove that Ducat is fully backed by treasury assets, with each DUCAT corresponding to a pro-rata right to share in the protocol's treasury assets. All rights involving DUCAT treasury assets, including vested bonds, vested Pass rewards, pDUCAT in staking, pDUCAT in the cooldown period, and circulating DUCAT in wallets, can be redeemed without waiting for the cooldown period to end. Ducat stated that the team has taken a snapshot of DUCAT holders, and holders included in the snapshot can redeem the fair value of their corresponding DUCAT from the protocol treasury; DUCAT purchased through liquidity pools after the snapshot was completed is not eligible for redemption. The team has also updated the front-end interface to allow users to complete the redemption.
Stablecoin Regulatory Rules Finalized, OCC Advances GENIUS Act Implementation
Odaily reports: The U.S. Office of the Comptroller of the Currency (OCC) has finalized implementation rules for the GENIUS Act, applicable to permitted payment stablecoin issuers, foreign issuers under OCC jurisdiction, and certain custodial activities of regulated entities, covering reserve backing, redemption, and risk management. Treasury Secretary Scott Bessent called the legislation a "watershed moment for American finance," likening it to the National Currency Act of 1863. The final rules did not incorporate Bank Secrecy Act, anti-money laundering, or OFAC sanctions provisions; these matters will be addressed through subsequent rules coordinated with the Treasury Department. The GENIUS Act was signed into law in July 2025, and regulators failed to finalize rules before the July 18, 2026 deadline; the Federal Reserve proposed two related rules in September 2026. Both the GENIUS Act and the OCC's final rules are set to take effect on January 18, 2027, and the OCC has not yet announced a timeline for accepting issuer applications and exemption requests.
U.S. Treasury Plans to Expand Sensitive Technology Investment Restrictions on China and Other Countries, Further Tightening AI and Biotechnology Regulations
The U.S. Department of the Treasury issued proposed rules to implement the COINS Act, aiming to further expand U.S. outbound investment restrictions in certain sensitive technology sectors targeting "countries of concern." The existing regime primarily targets entities related to China, while the proposed rules seek to further tighten restrictions on AI and semiconductors on that basis, extending the regulatory framework to encompass additional sensitive technologies and jurisdictions. In the AI sector, certain investments that remain permissible post-filing under current rules will be converted to outright prohibitions; regarding semiconductors, high bandwidth memory, photonic chips, and radiation-hardened chips will also be subject to stricter restrictions. Meanwhile, biotechnology has been added as a priority regulatory domain, covering areas such as brain-computer interfaces and automated laboratory software.
The GENIUS Act is expected to take effect on January 18, 2027; stablecoin companies need to assess their business compliance paths
Odaily reports: The GENIUS Act took effect on July 18, 2025, with the general applicability date being 18 months after enactment, or 120 days after the primary federal payment stablecoin regulator issues final implementing rules, whichever is earlier. The U.S. Treasury Department expects the general effective date to be January 18, 2027, with certain issuance and sales restrictions taking effect on July 18, 2028.The Office of the Comptroller of the Currency (OCC) published its primary implementation proposal in February 2026, and the Federal Reserve proposed rules on September 24, 2026 covering regulated issuers, reserves, capital, risk management, custody, and application procedures. An interim final rule effective September 30, 2026 has established the forms and procedures for certification of state regulatory regimes.Stablecoin issuers need to assess approval, prudential supervision, reserve, and redemption requirements; distributors and intermediaries need to analyze exchange, transfer, custody, and related financial services obligations. Companies holding stablecoins also need to review redemption channels, reserve arrangements, custody, freezing, and counterparty risks, and those accepting stablecoin payments need to distinguish between receiving payments for their own goods or services and transferring funds on behalf of others.Prospective issuers may choose the path of an approved subsidiary of an insured depository institution, a federal qualified issuer, or a state qualified issuer; state qualified issuers that meet the conditions and have outstanding issuance of no more than $10 billion may opt for state supervision. Payment stablecoin reserves must cover outstanding tokens at least one-to-one, and companies also need to map out fund flows, customer rights, compliance responsibilities, and product yield arrangements. Relevant issuers may not pay interest or yield solely by virtue of holding, using, or retaining payment stablecoins. (Bitcoin.com News)
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Tether's Reserve Assets Reach $191.5 Billion at End of Q3, Net Operating Profit of $1.5 Billion
Odaily Report: Stablecoin issuer Tether International, S.A. de C.V. has published its Q3 2026 attestation report compiled by BDO, with data as of September 30. Total reserve assets at quarter-end amounted to $191.5 billion, of which direct and indirect U.S. Treasury holdings totaled $132.4 billion.USD₮ issuance remained broadly stable at $184 billion across the first three quarters; cumulative net operating profit for the same period reached $4.5 billion, of which $1.5 billion was recorded in Q3, flat versus Q2. U.S. Treasuries and reverse repurchase agreements continued to contribute the majority of revenue.As of September 30, the company's total assets stood at $191.451 billion and total liabilities at $183.496 billion, with assets exceeding liabilities by $7.955 billion. Excess reserves rose from $4.1 billion at the end of Q2 to $7.95 billion, nearly doubling. (Tether News)
South Africa’s Crypto Economy Grows 52% Over the Past Year to $39.3 Billion; Cross-Border Regulatory Draft May Be Revised
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.
Tech stock selloff sparks safe-haven demand, US Treasuries rally alongside global bonds
During Friday's Asian session, the rally in US Treasuries accelerated as American tech stocks were sold off and investors turned to US government bonds for safety. Yields across all tenors of US Treasuries fell by at least 3 basis points, extending the downward trend from the New York session. Bonds in Australia, Japan, and New Zealand followed suit, with their respective benchmark 10-year government bond yields falling more than 5 basis points. Safe-haven sentiment heated up following disappointing earnings from tech giants like Alphabet, further fueling market skepticism regarding the sustainability of the AI trade. In October, yields on the benchmark 10-year US Treasury have fallen nearly 40 basis points, poised to record a first monthly decline since February.
Tether transferred 500 million USDT to Binance
According to Whale Alert, at 01:28 Beijing Time, 500 million USDT (worth approximately $500 million) was transferred from Tether Treasury to Binance.
250 Million USDC Newly Minted on Solana
According to Whale Alert monitoring and on-chain verification, the USDC Treasury minted 250 million USDC on Solana at 07:04 Beijing Time on October 29.
US Treasury Sanctions 10 Individuals and One Entity to Crack Down on North Korean IT Worker Fraud Network
According to the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) announced on October 28 sanctions against 10 individuals and one entity for their involvement in North Korean government-led IT fraud operations. These activities defraud U.S. companies and generate revenue for North Korea's weapons of mass destruction and ballistic missile programs.