Crypto News

Beijing’s Haidian District market regulator has fined a technology company more than 930,000 yuan in total in the city’s first case involving the use of blockchain and virtual currencies to assist a pyramid scheme. The company, an outsourced service provider for an unnamed public blockchain, supported its operations, marketing, promotion, exchange links and maintenance. The chain’s “Atomic Plan” and “Hathaway Plan” rewarded participants for recruiting more people and required them to invest funds to qualify. Authorities said the company continued providing technical and promotional support, as well as maintaining virtual currency trading channels, despite being expected to know about the scheme. The case highlights regulatory scrutiny of blockchain services and virtual currency channels used to support pyramid schemes.

Russia is preparing a common crypto investor testing standard for regulated platforms, with brokers potentially starting client assessments by late November. NAUFOR says the standards have been finalised, while the draft was submitted to a Bank of Russia committee for review. Test results are expected to be recognised across licensed platforms using consistent procedures. Earlier draft proposals outlined separate rules for qualified and nonqualified investors. Retail investors would take a basic test and face a proposed annual purchase limit of 300,000 rubles per intermediary for approved, highly liquid crypto assets. Qualified investors would have broader access without an equivalent cap, but would still need to demonstrate knowledge of the risks. Bitcoin, Ether and USDT were among the assets proposed for regulated trading. The latest announcement does not confirm test content or how testing will affect access to crypto assets. NAUFOR is also developing a separate test for digital financial assets; the existing 600,000-ruble annual limit for certain nonqualified investors remains unchanged.

The Federal Reserve held its federal funds target range at 3.75%–4.00% in a 10–2 vote on October 28. Two officials dissented in favor of a 25-basis-point rate increase. The Fed upgraded its assessment of economic activity but said inflation remains elevated. US stocks rose for a third consecutive session, with the S&P 500 up 0.28%, the Dow Jones Industrial Average up 0.19% and the Nasdaq Composite up about 0.27%. After earnings, Microsoft shares gained more than 3% in after-hours trading, supported by 48% year-on-year Azure growth and free cash flow of about $18.6 billion. Alphabet shares fell nearly 10% at one point. Its search advertising growth missed expectations, while higher AI infrastructure spending weighed on cash flow, which was negative $9.07 billion for the quarter. The contrasting reactions show that investors are scrutinizing AI investment returns, earnings quality and cash generation—not just interest rates or revenue growth. The Fed rate hold removes one immediate source of uncertainty, but future inflation and economic data will shape rate expectations. Treasury yields and company cash flows remain important factors for technology valuations. For crypto traders, the policy decision may affect liquidity and risk appetite, but it does not determine Bitcoin’s direction on its own.

Rosatom is in preliminary talks with US counterparts about using small modular reactors (SMRs) and microreactors to power AI data centers. Kremlin envoy Kirill Dmitriev raised the idea on 16 October 2026, and Rosatom chief executive Alexey Likhachev confirmed the discussions on 29 October. The talks remain exploratory: no US partners, contracts, sites, funding or timeline have been announced. US sanctions, payment restrictions and regulatory complexity are significant obstacles. Rosatom says it has experience with small reactors and nuclear-powered data centers. Its operating units include two 35 MW reactors commissioned in 2020, while its domestic microreactor designs are rated at 5–50 MWe. The company aims to capture 15–20% of the global SMR market by 2030. The Rosatom-US talks reflect growing demand for reliable electricity to support AI computing, but do not yet represent a confirmed project. For crypto traders, the news is not a direct catalyst for any cryptocurrency; its relevance is indirect, reflecting broader energy needs across digital infrastructure.

Today’s crypto market news highlights opposing supply and trading signals. Hyperliquid permanently destroyed 49.87 million HYPE, nearly 5% of its maximum supply, a move that reduces token supply. BlackRock transferred nearly $200 million in ETH to Coinbase over two days, while an Ethereum early adopter deposited all 2,119 ETH held in a dormant wallet to Coinbase; neither transfer confirms an immediate sale. Bitcoin faces the expiry of $11 billion in options, with US midterm elections cited as another potential source of volatility. A whale also sold 1.02 million SOL over five days, worth about $104 million. Elsewhere, Australia’s regulator said no prediction-market operators had applied for licences, and Polymarket has been blocked in the country. The crypto market news presents mixed signals: token supply reduction may support HYPE, while large exchange transfers, SOL selling and options expiry could raise volatility.

Indian trading platform Mochatrade has raised $5.56 million to build a UPI-funded platform for perpetual contracts linked to U.S. stocks. CoinFund led the $4.87 million seed round, with Coinbase Ventures and Zero Knowledge Ventures’ Nicky Montana participating. The total includes $690,000 previously raised from Y Combinator and Pioneer Fund; Y Combinator’s $500,000 investment was paid in USDC on Base. Mochatrade offers leveraged derivatives—not direct share ownership—tied to more than 50 U.S. stocks, including Nvidia, Tesla, Apple and Meta, as well as indices, commodities and crypto assets. Users can deposit and withdraw rupees through UPI, trade with up to 50x leverage, and use a shared-margin account. The company was in beta with more than 25,000 people on its waitlist as of October 26, and planned a public launch in the following weeks. Funding will support its trading engine, risk controls and user growth; Mochatrade has also discussed adding stock options, more assets and social-trading features. Mochatrade says its operating company is registered with India’s FIU-IND as a virtual digital-asset service provider. That registration covers anti-money-laundering obligations and is not blanket approval for its products. The regulatory treatment of stock-linked perpetuals, particularly planned pre-IPO contracts, remains uncertain and could affect the platform’s rollout.

US spot Bitcoin ETFs recorded mixed but substantial inflows in late October, while Ether ETF flows weakened. Lookonchain reported $470.15 million in Bitcoin ETF net inflows on Oct. 22, equivalent to 5,766 BTC; BlackRock’s IBIT and Fidelity’s FBTC accounted for about 92% of the total. Bitcoin ETFs also logged $937.97 million in net inflows over seven days. The same snapshot showed $10.63 million in Ether ETF outflows, led by BlackRock’s ETHA. However, Farside Investors reported inflows to both asset classes for its completed Oct. 21 session, so the daily figures are not directly comparable. In the later update, Bitcoin ETFs recorded $137 million in net inflows on Oct. 28, while Ether ETFs saw $21.41 million in outflows. Since launch, Bitcoin ETFs have attracted roughly $57–58 billion in cumulative net inflows and hold more than $100 billion in assets. Ether ETFs have accumulated about $12.5 billion in net inflows since July 2024, despite October outflows approaching $1.3 billion. Bitcoin traded around $80,000–$81,500 in late October. The divergent Bitcoin ETF and Ether ETF flows signal differing near-term fund demand, but ETF flows alone do not confirm a lasting market trend.

Visa’s annualized stablecoin settlement volume has topped $25 billion, up tenfold year over year. The figure is an annualized run rate, not the total processed in fiscal 2026. CEO Ryan McInerney said Visa supports five stablecoins across 10 blockchains and operates settlement services in five regions. Its platform is available in the US, Mexico, Puerto Rico, Colombia, Switzerland and the UK, with more than 300 prospective partners in its pipeline. Visa also has more than 225 stablecoin-linked card programs, covering about 5 million cards in over 50 countries. Transaction volume from those programs rose more than 150% year over year. Visa Direct’s USDC prefunding service has entered commercial production, with Inyo Global as its first live partner. Separately, Open USD launched on 30 September and had a circulating supply above $800 million as of 15 October. The latest figures point to broader use of stablecoins for payments, blockchain settlement and business treasury services. The growth expands institutional access to stablecoin infrastructure, but does not by itself signal an immediate price move in USDC or the wider crypto market.

Meme coins saw extreme volatility across Solana, BNB Chain, Robinhood Chain and Base between 26 and 29 October 2026, with sharp price swings and rapidly changing trading leaders. The later 24-hour roundup reported Solana top-10 volume of $44.5 million, down from $57.6 million on 26 October. STONK led both periods, with volume easing from $15.4 million to $14.7 million. HOUSECOIN and Grokbot posted striking gains in the later report, while LAUNCH had surged 36,508.5% in the earlier roundup; BTC fell 32.2% initially and 30.0% in the later report. BNB Chain top-10 volume declined from $36.7 million to $33.7 million. The leader changed from IRYS, at $17.5 million, to BNCB, at $20.9 million. Earlier standout gainers included 4AGENT, while JAGENT surged in the later report and GANG fell 36.6%. Robinhood Chain volume rose from $22.5 million to $44.4 million, with PONS leading both reports; NMS and PIZZA recorded large gains in their respective roundups. Base volume climbed from $26.7 million to $90.4 million, but remained heavily concentrated in AXIS. Its reported volume increased from $25.7 million to $89.1 million, while its price fell 35.5% in the later roundup; most leading Base tokens also declined. Overall, the meme coin data show concentrated turnover and fast-changing momentum, not a clear market-wide trend. Traders should verify token data and liquidity and account for the risk of sharp reversals.

A whale sold 1.02 million Solana (SOL) over five days, worth about $104 million, according to blockchain monitoring account Lookonchain. The sale could add short-term selling pressure to SOL, though the report does not identify the whale or say where the tokens were sold.

Gate US has introduced USD balance trading and USD Wire deposits and withdrawals, allowing eligible users to hold and transfer dollars without first converting them into stablecoins. Verified users in supported US jurisdictions can transfer funds from a bank account in their own name; the service is designed to support larger transfers than standard card or in-app options. Users must follow the app’s instructions and include a unique reference code. USD services are unavailable to residents of Colorado, Hawaii, Missouri, New Jersey, Utah and Wyoming. Gate US says it holds 37 state money transmission licences and serves 47 US states and territories.

Pendle reports that STRCx holdings on its platform have surpassed $50 million, setting a new all-time high. Pendle now holds about 30% of STRCx’s total supply. STRCx is described as the largest tokenized equity asset in DeFi. The growth points to rising activity in this tokenized-asset market, but the report does not provide details on the cause or any immediate price impact.

ServiceNow shares fell nearly 18% in after-hours trading after the enterprise software company gave a weaker-than-expected fourth-quarter outlook for contracted revenue growth. The decline came despite stronger-than-forecast revenue and an increased artificial intelligence target. Third-quarter revenue rose 20.5% year on year to $4.106 billion, slightly above analysts’ expectations. Subscription revenue grew 21% to $3.988 billion, while adjusted earnings per share of $1.00 narrowly missed the $1.02 forecast. Current remaining performance obligations, a measure of contracted revenue expected within 12 months, climbed 20.5% to $13.65 billion. Investors focused on projected fourth-quarter cRPO growth of about 18.5%, below the 19.8% analysts expected. ServiceNow forecast subscription revenue growth of roughly 22.5% to 23% for the quarter and raised its full-year subscription revenue forecast to $15.78 billion–$15.79 billion. ServiceNow raised its 2026 AI annual contract value target to $1.7 billion and expanded its partnership with OpenAI. However, investors are weighing that AI momentum against slower expected contract growth and acquisition-related costs. The earnings reaction may also influence sentiment toward technology and AI stocks, but the news has no direct impact on cryptocurrency fundamentals.

VIA Labs has launched bidirectional cross-chain messaging between Stellar’s Soroban smart-contract platform and Ethereum mainnet. The integration lets developers coordinate contract actions and build applications for stablecoin transfers and tokenized assets. VIA’s reference VIAT token uses a burn-and-mint process, with transfers typically taking about one to three minutes. Users pay standard network fees in XLM on Stellar or gas on Ethereum; VIA is waiving its protocol fee on Stellar routes during the launch period. Transfers require a funded Stellar account. Announced at Stellar’s Meridian conference in Lisbon on October 28, the launch adds general-purpose contract messaging alongside existing stablecoin-focused connections. It comes as Securitize plans to support Stellar for tokenized assets and DTCC discusses a future Stellar integration. Those are separate initiatives and are not part of VIA’s live Ethereum connection.

US Senator Steve Daines has voiced support for Chainlink ahead of its Link:NYC event on October 29. The gathering will bring together financial institutions, policymakers and blockchain executives to discuss tokenized assets, stablecoin payments, cross-chain interoperability and financial infrastructure. Speakers include representatives from Swift, Citi, Fidelity Investments, Intercontinental Exchange and the Depository Trust & Clearing Corporation, as well as Chainlink co-founder Sergey Nazarov. Daines’ support follows his introduction of the ADAPT Act with three other senators. The proposed bill would clarify US tax rules for digital assets, including certain stablecoin payments, staking and small network transaction fees. It has not been enacted. Chainlink has also announced institutional initiatives involving Anchorage Digital, Swift and the Hong Kong Gold Exchange. These projects include connecting custodial assets to DeFi lending, enabling cross-chain transfers of the gold-backed XGZ token, and helping financial institutions coordinate blockchain transactions. The announcements add to the institutional adoption narrative around Chainlink, but the article reports no new price catalyst or immediate market impact for LINK.

Sony has launched a global Soneium incubation program to help creators and startups turn blockchain entertainment ideas into commercial products. Selected teams will receive technical infrastructure, business development, marketing, community support and opportunities to work with Sony Group companies and meet potential investors. The program targets services for digital content, fan communities and creator revenue. Applications are open from October to December 2026, with selections expected to continue through March 2027; Sony has not said how many teams will be chosen or guaranteed direct funding. The initiative follows two earlier rounds that supported 43 projects since 2024. It comes as Soneium explores tokenized entertainment across music, anime and gaming, alongside a proposed native token and creator-funding tools. No token has launched, and supply and distribution details remain undisclosed. Soneium, an Ethereum layer 2 network developed by Sony and Startale Group, launched its mainnet in January 2025. The program may attract more developers and users to Soneium, but its impact on network activity and the proposed token remains uncertain.

Y Combinator’s latest AI startup opportunities list argues that AI’s biggest constraints are moving beyond models and into the physical economy. The accelerator highlights 11 areas where startups could build the hardware, infrastructure, financing and specialised software needed to deploy AI at scale. The priorities include lower-cost space access; AI tools that help non-specialists deliver expert services; US-made robots and domestic component supply chains; and language models with stronger writing skills. YC also sees openings in government benefits verification, AI-assisted municipal permitting, financing for physical infrastructure, and specialised foundation models for sectors such as manufacturing, energy and life sciences. Other opportunities include data-centre power, cooling and grid connections, as well as AI systems that can operate in secure, air-gapped environments. YC also points to private and open-weight models that give companies more control over their AI systems and costs. The article cites several scale indicators: US factories installed 38,400 industrial robots in 2025, up 12% year on year; China produced 94% of the world’s sintered rare-earth permanent magnets in 2024; and US data-centre projects face transformer delivery lead times of up to three years. YC’s broader message is that AI startup opportunities are increasingly tied to real-world bottlenecks, not just software applications. The list is a set of investment themes, rather than an announcement of specific YC investments.

South Korea’s ruling Democratic Party plans to meet representatives of five major crypto exchanges on Friday to discuss postponing crypto taxation. The tax is scheduled to take effect in January 2027, but the party has proposed legislation to delay implementation until 2029. It cited inadequate tax infrastructure and difficulties obtaining trading data as reasons for the proposed delay. The discussions may affect the regulatory outlook for South Korea’s crypto market, but no final decision has been announced.

Alphabet stock fell about 9% in after-hours trading after the Google parent reported third-quarter results that missed some Wall Street expectations. Revenue rose 25% year over year to $127.58 billion, slightly below forecasts. Net income declined to $26.17 billion from $34.98 billion, while earnings per share came in at $2.12, partly affected by an $8.7 billion loss on equity investments. Alphabet’s results showed mixed trends across its businesses. Google Cloud revenue surged 103% to $30.7 billion, and CEO Sundar Pichai said the Gemini AI app had reached one billion users. Search advertising revenue rose 12% to $63.3 billion, while YouTube advertising grew 9% to $11.2 billion. Investors focused on the cost of Alphabet’s AI expansion. Capital expenditure reached about $51.36 billion for the quarter, and the company reported roughly $9.1 billion in negative free cash flow. Alphabet maintained its 2026 capital expenditure forecast of $195 billion to $205 billion and warned that spending would rise substantially in 2027. The selloff reflects concerns about whether strong cloud growth and AI adoption can deliver returns sufficient to offset the company’s rising infrastructure costs.

Lynas Rare Earths reported record gross sales and record production for the quarter ended 30 September 2026, according to interim chief executive Pol Le Roux. The company said gross sales reached AUD 310, though the available transcript excerpt does not specify the unit or provide further financial details. Le Roux described the quarter as highly rewarding and said Lynas was viewed as a winner in the rare earths sector. The update was delivered during the company’s quarterly results briefing.

CFTC Chair Michael Selig says autonomous AI agents that can hold assets, stake Ether and trade on users’ behalf raise questions for financial rules designed around identifiable people and institutions. At the agency’s Frontier Forum in Washington, he raised whether developers should register, who is liable for an agent’s actions and how regulators can identify the customer behind it. He also floated “know-your-agent” (KYA) requirements. AI agents could give smaller traders access to sophisticated analysis and risk-management tools. But similar models may make correlated trades, and rapid execution could complicate market surveillance and amplify volatility. A September survey found that 79% of US millennial investors and 77% of Gen Z investors use or are open to using AI for investment decisions. Crypto platforms are developing agent tools: Coinbase launched Agentic Wallets in February, and Binance introduced AI Agent Skills in March. The CFTC has not announced specific rules, so this is a regulatory signal rather than an immediate change to crypto markets. Traders will be watching for proposals on registration, accountability and auditable limits as AI agents become more common in crypto trading.

Former FTX chief operating officer Constance Wang has criticised Netflix’s upcoming drama, “The Altruists,” for portraying the FTX collapse as a “toxic love story” between Sam Bankman-Fried and Caroline Ellison. The series is scheduled to premiere on 19 November 2026. Wang says most employees did not know about their relationship until after bankruptcy, describes a core team of fewer than 200 working 16- to 18-hour days, and disputes depictions of a party culture. She also says the show portrayed her without consulting her. Wang’s criticism follows her account of FTX’s November 2022 collapse: staff were told withdrawals were safe as customers sought to withdraw about $6 billion in 72 hours, before Bankman-Fried disclosed an estimated $8 billion shortfall. FTX had misused customer funds to support Alameda Research, contributing to bankruptcy and Bankman-Fried’s 25-year prison sentence for fraud and money laundering. The collapse affected an estimated nine million customers and investors; FTX’s bankruptcy team has recovered about $16.5 billion for repayments based on November 2022 account values. Wang was investigated but not charged and says she lost most of her FTX-related wealth. She later co-founded trading platform Pacifica, which reported $10 billion in trading volume in October 2026.

Ethereum developers have patched a deposit-redirection flaw in draft rules for Glamsterdam, the network’s upcoming upgrade. Under the ePBS design, deposits intended for new validators could have been misattributed to a builder if both used the same public key, potentially leaving the validator uncreated and the staking service without a clear recovery route. A Lido community researcher identified the conditional risk and considered possible exposure at Lido, Origin and Rocket Pool; no attack or fund loss has been reported. After an initial rejection on October 19 over limited client support, the rule change was merged into the consensus specifications between October 23 and 28, 2026. It assigns pending deposits by withdrawal credentials, separating validator deposits even when public keys are shared. Sepolia reportedly tested the update successfully, while Hoodi’s activation was postponed. Client implementation and Hoodi’s rescheduled test remain important milestones. The pre-deployment Glamsterdam fix limits immediate security concerns for ETH staking, though traders should watch upgrade readiness for possible effects on confidence and network stability.

Binance Wallet will host a Predict.fun (PREDICT) Pre-TGE Prime Sale on 29 October 2026, from 16:00 to 18:00 Beijing time (UTC+8). Eligible users must hold at least 60 Binance Alpha Points, and participation will deduct 15 points. Binance has yet to disclose the sale price, allocation or other terms, and says further details will follow. The PREDICT token sale may draw attention to the project, but its direct market impact is uncertain until more information is released.

Hong Kong-listed Ruihe Digital sold 38.76 Bitcoin for approximately $3.1219 million, excluding transaction costs. The company said it plans to use the proceeds as general working capital. The Bitcoin sale is a corporate treasury move; the announcement did not specify when or how the BTC was sold.

IREN is a high-risk, leveraged play on the AI data center buildout, with its shares described as behaving like a long-dated call option. The analyst maintains a Buy rating and sets a $37.65 price target, implying about 48% upside from the roughly $25 share price cited in the title. IREN’s case rests on about $4 billion in contracted annual recurring revenue and its Microsoft partnership. But the company may need roughly $12 billion in additional funding, raising execution and dilution risks. In May, it issued $2.6 billion of convertible notes carrying 1% interest and a conversion price near $73 per share; seven months earlier, it issued $875 million of zero-coupon convertible notes. At 6.3 times the analyst’s base-case FY2028 EBITDA estimate, the valuation reflects substantial uncertainty about whether contracted data center capacity will convert into revenue on schedule. The analyst views IREN as a speculative position and would add only if November results confirm that conversion is progressing as planned. The stock could offer significant upside, but its financing needs and delivery timeline make volatility a central risk.

Alipay says it does not authorize third-party platforms to use its payment services for cryptocurrency trading, rejecting the impression that Peer’s USDC peer-to-peer service is supported by the payment provider. Alipay warned that unauthorized services could put users’ funds and accounts at risk, and said it has monitored and restricted crypto-related activity for years in line with China’s rules. Peer announced the beta service on October 27. It said that since August 21, the platform had recorded 107 transactions involving 45 buyers, worth about $7,094. Peer’s figures were not independently confirmed by Alipay. The company said yuan payments pass between users while USDC is transferred through onchain escrow, and clarified that it has no formal partnership or integration with Alipay. China prohibits virtual-currency trading and related fiat-to-crypto services. The Alipay warning highlights compliance risks for traders using domestic payment channels, but the reported volume is small and is unlikely to materially affect USDC’s price or the wider crypto market.

BitGo says eligible institutional clients will be able to mint, redeem and custody WisdomTree Treasury Money Market Digital Fund shares (WTGXX) through BitGo Mint. The planned service is intended to let clients access the fund without separate onboarding with WisdomTree. Eligible clients may also be able to transfer beneficial interests through the Go Network while keeping them in qualified custody, subject to availability at launch. The BitGo WTGXX integration is not yet a service available to all users: launch timing, eligibility and peer-to-peer transfer availability may change. WTGXX is an investment fund, not an insured bank account, and its value can decline. The announcement does not establish that the service will generate significant transaction volume or affect crypto prices. Traders should watch for a confirmed launch date, fees, supported payment routes and evidence of actual institutional use. The development adds to the tokenized Treasury and onchain cash-management trend, but its market impact will depend on implementation and adoption.

Crypto token launches and airdrops from three projects are approaching, although their timelines and eligibility rules differ. Flop, launched by BitMEX co-founder Arthur Hayes, is building computing and payment infrastructure for AI agents. Its planned FLOP token will pay for AI inference and related services. Flop expects to open its devnet soon; testing will not count towards token allocations, and a testnet airdrop is expected in the coming weeks. GenLayer, a blockchain protocol designed to provide AI-based arbitration for smart contracts, plans to move its public network and token to the Arbitrum ecosystem. Its GEN supply is set at 4.2 billion, with 25% allocated to the community. The mainnet and token generation event are expected in Q4 2026. The first-season airdrop snapshot and registration have already closed. Extended, an on-chain perpetual futures platform, plans to launch XTEN in November 2026 and publish its tokenomics on 31 October. It says 30% of the initial supply—300 million tokens—will go to eligible participants in its Extended Points programme. The platform moved from Starknet to Circle’s Arc network in October. These crypto token launches highlight growing links between tokens, product use and community participation, but the projects’ schedules and airdrop conditions differ.