Crypto News

Intel credit default swaps (CDS) reached a record 123.5 basis points on October 30, marking the contract’s largest one-day increase since October 2022. The move followed Alphabet’s weaker-than-expected third-quarter results and renewed concern that AI-related capital spending across the tech sector may be difficult to sustain. Credit risk repricing extended beyond Intel. Broadcom’s CDS rose about 10 basis points to a record 175.4, SpaceX’s jumped roughly 20 points to a record 266.5, and Alphabet’s increased about 5.1 points to around 84. Intel’s spread had been trading between 90 and 104 basis points before the latest surge. Trading in CDS linked to major hyperscalers and chipmakers has increased more than eightfold this year, reaching $176 billion. The wider move suggests credit traders are reassessing risk across the AI supply chain, even as equity-market reactions remain mixed. Intel CDS and broader tech credit spreads are therefore indicators to watch for signs of mounting concern about AI spending and corporate risk.

Anthropic’s IPO filing puts the AI company’s risks, losses and valuation ambitions under scrutiny as it considers a Nasdaq listing under the ticker ANT. The filing outlines nearly 70,000 words of risk factors, including model safety and operational concerns, while a Reuters Breakingviews analysis warns that AI could reproduce proprietary software and disrupt licensing and subscription businesses. It argues the filing gives less attention to AI’s potential effects on the public. Anthropic reported $16.3 billion in first-half 2026 revenue and an $80.7 billion net loss. The company says much of the loss reflects the accounting treatment of convertible notes, rather than cash outflows, and it has disclosed infrastructure commitments exceeding $500 billion. Its reported valuation ambitions of $1.5 trillion to $2 trillion contrast with a prediction market cited in the later summary, which assigned a 4% chance of Anthropic reaching $600 billion by year-end. New funding, partnerships or further investment from Amazon and Google could change the IPO outlook. For crypto traders, the Anthropic IPO has no stated direct effect on cryptocurrency prices. However, its losses, infrastructure spending and software-cloning risks could shape sentiment towards AI and technology stocks, with possible indirect effects on broader risk appetite.

AI agents are emerging as a new class of economic participants, increasing demand for blockchain-based payments, identity verification, digital ownership and markets that operate around the clock. Pantera Capital highlighted this shift at its annual summit, where founders from World, Alchemy, Ondo Finance and other companies discussed the convergence of AI and blockchain. A key announcement was Fission’s $10 million Series A, led by Pantera. The platform lets eligible investors sell certain tokenized funds and settle in USDC in about 90 seconds, addressing redemption waits that can reach roughly 200 days. Its permissioned model maintains investor eligibility and transfer restrictions. Institutional adoption also advanced. ICE agreed to operate trade[XYZ]’s regulated markets and take a strategic stake, bringing a route for Hyperliquid perpetual futures into the US. DTCC launched a tokenization service on the Canton Network and a private Besu chain, initially covering 34 eligible securities worth about $30 trillion, with 20 firms signed on. The article also reports a major security shock: an October 29 attack allegedly moved about $6.36 billion from Binance wallets across ten blockchains. Binance said roughly $3 billion had been frozen and pledged to cover user losses. Bitcoin fell below $77,000 and BNB dropped about 7% following the news. Separately, US spot bitcoin ETFs recorded $635 million in outflows on October 22, pushing October flows into negative territory. For traders, the story combines near-term security and fund-flow risks with longer-term growth in tokenized assets, regulated crypto markets and blockchain infrastructure for AI agents.

Bitcoin fell just over 2% in the 24 hours after Binance suffered an estimated $6.3 billion attack on 29 October, according to a 21Shares report. That decline was far smaller than Bitcoin’s roughly 26% drop after the FTX collapse in November 2022. The report said the incident involved a security breach at Binance, not an attack on the Bitcoin network. Binance has pledged to cover all losses. About $3 billion in stolen assets has reportedly been frozen. Its 15,000-BTC SAFU reserve, worth approximately $1.18 billion at a Bitcoin price of $78,509, could cover about 36% of the remaining unfrozen losses, with company funds covering the rest. Chainalysis said it was highly confident North Korea was behind the attack, though Binance and government agencies have not formally confirmed the attribution. 21Shares also said its physically backed ETPs and ETFs were unaffected because their assets are held in cold storage by third-party custodians, not on exchanges; all its products continued trading normally.

Polymarket odds around ETH’s $2,400 October threshold tell different stories because the summaries describe contracts with opposite settlement rules. An earlier report put the chance of ETH dipping to $2,400 or below at 84%, up 34 percentage points over 24 hours. A later report said the probability of ETH reaching $2,400 or above during the rest of October was 3%, down 42% over 24 hours, according to PPP data. The first contract uses the low of any one-minute Binance ETH/USDT candle; the second uses the high. Prices on other exchanges and trading pairs do not count. These ETH $2,400 prediction-market odds reflect positioning on separate outcomes, not confirmation of ETH’s spot-price direction.

Analysts at StoneX and TD Cowen say Strategy’s steadier preferred-stock financing and improved liquidity could create room for renewed Bitcoin purchases and growth in Bitcoin holdings per share. Both firms maintain buy ratings, with price targets of $435 and $260, respectively. At the end of the third quarter, Strategy held $5.07 billion in dollar assets, including $4.83 billion in cash—enough to cover an estimated 3.2 to 3.4 years of preferred dividends and debt interest. The company also spent about $2 billion buying back STRC preferred shares, helping the price recover toward its $100 par value. But because funds went to cash reserves and preferred-stock support rather than Bitcoin purchases, Bitcoin held per share fell 3.7% this year. Shareholders approved daily dividend accrual for STRC from November 1 and for STRF, STRK and STRD from January 1. Management says the change aims to reduce volatility, improve liquidity and broaden demand. Better funding access could eventually help Strategy buy more Bitcoin, but no resumed purchases were confirmed.

Standard Chartered-backed Anchorpoint Financial has partnered with the Solana Foundation to bring its regulated Hong Kong dollar stablecoin, HKDAP, to Solana. The planned integration will support native HKDAP minting and redemption on the network, with potential uses including retail payments, tokenized-asset trading and other transactions requiring fast settlement. No launch date has been announced. The partnership comes as Anchorpoint prepares to expand HKDAP beyond its institutional rollout and make it available to retail users. Access currently runs through approved distributors and verified wallets. Anchorpoint also plans to work with Solana wallets, applications and corporate partners to broaden access to HKDAP. The Solana Foundation will join Anchorpoint’s Tokenised Money Adoption Programme as a strategic partner. Anchorpoint, a joint venture between Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, received a Hong Kong stablecoin issuer license in April 2026. The agreement is a step towards wider use of regulated Hong Kong dollar stablecoins on public blockchains, but its market impact will depend on launch timing, adoption and transaction volumes.

Aave has reopened all V3 and V4 markets after a precautionary freeze linked to the Binance hot-wallet hack. Deposits and borrowing are available again, while withdrawals and repayments had remained open during the freeze. Aave said its contracts were unaffected and positions remain overcollateralised. However, USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUT, PAXG and OP will temporarily remain at a loan-to-value (LTV) ratio of zero. These assets cannot be used as collateral for new borrowing, limiting some stablecoin-backed and leveraged strategies. Binance confirmed the hot-wallet incident and said it would cover losses with company funds and its SAFU fund. The move restores access to Aave markets but keeps tighter collateral controls in place as the incident is assessed.

Binance says the reported $6.3 billion hack involved funds in its own hot wallets, not customer assets. A company spokesperson told Fox Business reporter Eleanor Terrett that most customer holdings are kept in cold wallets and moved to hot wallets only when withdrawals are needed. The spokesperson said Binance can absorb the loss with its own funds. CEO Richard Teng had earlier said the company and its SAFU fund would cover the loss. He estimated the impact at about $6.3 billion, with roughly $3 billion frozen on-chain. Binance’s initial investigation pointed to a possible compromise of a DevOps engineer’s laptop, while the company said it had found no evidence that wallet private keys were exposed. The statements seek to reassure users about Binance’s reserves and the security of customer funds. The incident nevertheless raises questions about exchange hot-wallet controls and operational security.

EIP-7702, an Ethereum upgrade activated in May 2025, lets standard wallets temporarily run smart-contract code. It enables transaction batching, gas sponsorship and limited-permission keys, but delegated code can access the wallet’s funds. On October 29, 2026, attackers stole about $6.4 billion from Binance wallets across 10 blockchains. TRM Labs and Chainalysis attributed the theft to TraderTraitor, a North Korean hacking group. On Ethereum, the attacker reportedly used 50 pre-signed EIP-7702 authorizations to turn a Binance hot wallet into a sweeper and transfer assets to attacker-controlled addresses. The incident does not indicate a flaw in Ethereum itself: EIP-7702 requires a valid authorization signature from the account owner. Binance said its investigation found a compromised engineer’s laptop and additional breach points. The episode highlights the security risks of EIP-7702 delegation and the importance of protecting exchange wallet-signing systems.

Coinbase Q3 earnings showed a growing divide between stronger reported profit and weaker crypto trading. Net income rose 66% year over year to $718.7 million, while revenue fell 35% to about $1.22 billion. A $715 million investment gain accounted for most of the profit; operating income was $61.7 million. Crypto trading remained under pressure. Transaction revenue fell 43% year over year to about $590 million, while spot volume slipped to roughly $135 billion, its fourth consecutive quarterly decline. Derivatives volume was about $986 billion, down 7% quarter over quarter, and monthly transacting users fell to 7.4 million. Prediction markets and derivatives together contributed about 25% of transaction revenue. Prediction-market annualized revenue exceeded $200 million, roughly double the previous quarter, offering a growing counterweight to weak spot trading. Subscription and services revenue reached $570 million. Stablecoin-related revenue was reported at $328 million in the later account, compared with nearly $307 million in the earlier report; average USDC held across Coinbase products reached a record $22 billion. Coinbase also added Ripple’s RLUSD and forecast Q4 subscription and services revenue of $550 million to $630 million. For crypto traders, Coinbase Q3 earnings point to progress in diversifying revenue, but also underline the exchange’s exposure to market cycles and digital-asset valuations. Prediction markets, derivatives and stablecoin services may cushion continued spot weakness, though their durability remains to be seen. Coinbase also said an incident at analytics vendor Amplitude exposed some customer contact and limited transaction data, but not information that could enable access to accounts or funds; the number of affected customers was not disclosed.

Grayscale’s Head of Onchain Asset Management, Sebastian Pulido, says the tokenized real-world asset (RWA) sector will be judged less by the number of assets issued and more by their practical use by 2030. He points to reliable pricing, liquidity and acceptance as collateral as key measures of progress. Onchain RWAs reached $39.3 billion in late October 2026, up more than 80% since January, with major issuers including BlackRock and Apollo contributing to growth. Some tokenized money-market funds are already accepted as margin, allowing traders to use fund shares as collateral while retaining their yield. Pulido expects stablecoin settlement and improved trading and collateral systems to support broader adoption. Over the longer term, he sees more assets being issued natively onchain, with transparent, frequently updated data informing credit assessments. For traders, the key indicators will be whether tokenized assets gain deeper liquidity, reliable pricing and wider acceptance by exchanges and lenders—not just whether the tokenized asset market grows.

Bitcoin is under pressure after Binance halted withdrawals following a reported security breach estimated to have caused $6.3 billion in losses. The exchange said it will cover user losses, and co-founder Yi He said withdrawals could resume within 48 hours. Crypto firms have reportedly frozen about $3 billion of the stolen funds. Bitcoin fell about 2.8% on Friday to around $78,490, while Ether and BNB also declined. HYPE rose about 17%. Bitcoin is trading below its 50-day moving average near $81,000, while its 200-day average around $76,000 is the key support level. A close below $76,000 could expose support near $65,000; reclaiming the $80,000–$82,000 area would improve the technical outlook. RSI and MACD readings still point to weak momentum, leaving the market cautiously bearish as traders watch Binance’s withdrawal timeline.

Bitcoin ETF flows have shifted from “highly negative” to “strong accumulation,” according to Tyler Evans, who discussed the trend on Bitcoin Magazine TV. The interview presents renewed ETF demand as a sign of institutional buying, while noting that the market’s next move remains uncertain. Evans also discussed the Federal Reserve, bond-market conditions and JPMorgan’s description of Bitcoin as its best-performing asset class. Other topics included Bitcoin’s competition with the AI trade, custody risks for Bitcoin treasury companies, and the potential impact of U.S. midterm elections on the outlook through 2027. The conversation also touched on whether Bitcoin can regain its 50-week moving average. The ETF-flow shift is the main near-term trading signal in the discussion. However, the article gives no flow figures or time period, so traders should treat the characterization as commentary rather than a quantified market report. ETF demand, macroeconomic conditions and Bitcoin’s price relative to key technical levels remain important factors to monitor.

Blockchain analytics firms Chainalysis and TRM Labs have linked the reported $6.3 billion to $6.4 billion Binance hack to TraderTraitor, a hacking group associated with North Korea. Binance’s initial investigation points to an engineer’s compromised laptop and unauthorised access to a service container; it has found no evidence so far that wallet private keys were leaked. TRM said funds were taken across 10 blockchains, with most moved within about 20 minutes, using rapid, automated transfers. As freezes began, the attacker reportedly converted $325 million in stablecoins into $285 million of ether and moved another $175 million to other wallets. Tether, Circle and First Digital said they froze stolen tokens. Binance reported about $3 billion in assets frozen or protected on-chain, while TRM said the attacker still held more than 420,000 ETH and 18,270 BTC. Binance has reserved more than $6.34 billion to cover losses, including funds already held in the stolen tokens, and plans to update its Proof of Reserves. The Binance hack added to market jitters. Bitcoin fell towards $76,000 and was later reported near $76,700. Total crypto liquidations reached $1.5 billion, including $468 million in BTC and $358 million in ETH, with long positions accounting for most losses. A separate Polymarket security incident involving more than $2.6 million in user funds added to concerns. Traders will watch asset recovery, official investigations and exchange security updates; prices could remain under pressure while the scale of recoveries is unclear.

HYPE recorded a record $16.2 billion in Binance spot trading volume in a single day, far above Binance’s average daily volume of about $3.6 billion over the past month. The surge coincided with a roughly 24% rise in HYPE, from $81 to $97. The move followed an announcement that TradeXYZ and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, plan to launch a US-based, 24-hour perpetual futures market using Hyperliquid’s infrastructure. The planned market would cover stocks, commodities, foreign exchange and cryptocurrencies, subject to regulatory approval. ICE would operate the regulated market, while TradeXYZ would handle its design and implementation. Crypto analyst Darkfost said the news was quickly priced in, but noted earlier comments from US President Donald Trump that CFTC chair Mike Selig was working to bring Hyperliquid into the US legally and compliantly. Stanley Druckenmiller also reposted the announcement on X. HYPE’s record volume and price jump signal strong near-term interest, while regulatory approval remains a key uncertainty.

Uniswap Labs, Andreessen Horowitz (a16z) and the DeFi Education Fund are urging Illinois to exclude decentralized finance (DeFi) activity from proposed Illinois digital asset tax rules. Their comments call for exemptions covering DeFi protocols, user interfaces, self-custody withdrawals and cross-chain bridge transactions. They also oppose requiring users to keep records of private keys. Illinois’ draft rules propose a 0.2% tax on digital asset transactions. The public comment period ends on 30 October. The state has agreed to delay the Digital Assets Tax Act’s implementation and enforcement until 1 July 2027. The final rules could affect how DeFi services and crypto users handle transactions in Illinois.

Ethena price fell 7.26% to $0.18653 on October 30 after the attacker linked to Binance’s reported $6.3 billion security breach sold 217.5 million ENA for about $33.93 million, according to Lookonchain. The attacker reportedly converted the tokens into ETH as part of wider altcoin sales that generated 70,480 ETH worth $158.25 million. ENA traded between $0.166247 and $0.217081 over 24 hours, with trading volume near $1.38 billion. It remains down 27.86% over the past month. The token faces resistance around $0.20 and $0.22; support is near $0.18 and $0.1658. A break below $0.1658 could expose $0.15, while a sustained move above $0.22 may open a path toward $0.24–$0.27. Santiment said ENA fell more than 16% during the four-hour period around the breach, while USDe briefly slipped to $0.9974. USDe’s supply changed by only about $1.5 million, relatively little compared with its typical daily movement, suggesting limited disruption to the stablecoin’s supply during the incident. A separate leveraged long position in ENA was opened on Hyperliquid, but it does not confirm that selling pressure has ended. Weak technical momentum and broader market declines remain risks for the Ethena price.

Cumulative net inflows into U.S. spot Bitcoin ETFs have surpassed $57.624 billion, with daily inflows of about $17.1 million to $17.2 million on October 29, according to the article. The figures point to continued institutional demand for Bitcoin, though ETF flows do not guarantee further price gains. The article uses the milestone to promote UE Crypto, a platform offering cloud-mining contracts and claiming automated daily payouts. Its sample contracts advertise returns such as $131 on a $1,000 investment over 10 days and $5,530 on $10,000 over 35 days. These are promotional claims, not independently verified returns. The article’s headline reference to daily earnings of $3,000 to $5,000 is not substantiated by the examples provided. Traders should assess the platform and contract risks independently; the article does not establish that cloud mining is safer or more reliable than holding Bitcoin or buying an ETF.

Bitcoin fell to $76,320–$76,500 after reports of a $6.3 billion Binance hack and a sell-off in US technology stocks, then rebounded to about $77,800. Binance said it was investigating the complex attack and would cover user losses with its SAFU fund and other company resources. Crypto liquidations reached $1.56 billion in 24 hours, including $1.31 billion in long positions, adding to Bitcoin’s selling pressure. The later rebound has not confirmed a market bottom. Bitcoin’s low was near its 200-day EMA at $76,470, while short-term charts showed bullish RSI divergence; its daily RSI fell to 34.7 and the price closed below the lower Bollinger Band. These signals may indicate easing selling pressure, but Bitcoin remains below key moving averages, including resistance near $80,600 and its 20-day simple moving average around $81,324. Derivatives data point to continued risk: OKX’s long-to-short account ratio rose before easing, futures open interest climbed 9% as prices fell, and funding rates remained positive, suggesting leveraged longs were building. Deribit puts outnumbered calls by 1.63 to one, while a Coinbase discount to Binance indicated weak US buying. Traders are watching US spot Bitcoin ETF flows, Binance withdrawals and whether long positions unwind. A daily close below $76,500 could expose the $74,968 range floor; reclaiming $80,600 would improve the recovery outlook. TRM Labs said the attacker still held 18,270 BTC. Past hacks offer mixed precedents: Bitcoin fell to a lower low after the 2025 Bybit theft, but rose 35% in the week after the 2019 Binance hack.

Arkham says the first roughly $300 million in XRP linked to the reported Binance hack was sent to a newly created wallet on October 29. XRP Ledger records show five transfers totaling 233.46 million XRP; the wallet had not sent any funds as of October 30. At an indicated price of $1.25, the balance was worth about $292 million—around 7.6% of reported 24-hour XRP trading volume. Unlike some stablecoins, XRP cannot be frozen by a token issuer, leaving the funds potentially movable by the wallet’s controller. The article says the broader theft involved about $6.36 billion across multiple chains, though the XRP wallet is not included in Arkham’s tracked hacker entity. XRP dropped to $1.2002 during the incident before recovering to about $1.25. It remained below its 50-day and 200-day exponential moving averages. Traders are watching the wallet for any movement: a large transfer to exchanges could add selling pressure, while continued inactivity may limit the direct impact.

Celestia v0.42.7 includes a high-priority type fix, backported from pull request #3532 and merged in #3534. The change binds ShareProof and RowProof to their positions in the data square. This improves proof handling in Celestia’s data-availability software. The changelog compares the release with v0.42.6; it does not report market or token-specific changes.

Newton Foundation says a suspected Binance hacker mistakenly sent about 8 million NEWT tokens and 17 other tokens to the NEWT token contract. The assets were worth approximately $3.5 million at current prices. The foundation said the contract was not hacked and is immutable, with no owner or admin and no upgrade function. As a result, the tokens are permanently locked and cannot be recovered or sold by the attacker. The foundation has shared its findings with Binance. The incident removes this batch of assets from potential sale, limiting the associated near-term sell pressure, though it does not resolve concerns about the wider Binance hack.

US-listed crypto stocks fell broadly at the market open on 30 October as news of a Binance hack and a sharp Bitcoin pullback weighed on risk appetite. Coinbase dropped about 12.46%, while Strategy fell 11.59%. American Bitcoin lost 11.33%, Circle fell 9.79% and Robinhood declined 8.67%; mining stocks including MARA and Riot were down more than 7%. The Binance hack was estimated to have an impact of about $6.3 billion. Binance said it had frozen some affected assets and would cover losses using its SAFU fund and company funds. Bitcoin had earlier slumped to around $76,700, adding to market anxiety. The sell-off appeared to reflect broader concern about crypto-market risk rather than company-specific news. The Binance hack and Bitcoin weakness prompted investors to reduce exposure across crypto exchanges, miners and Bitcoin-linked stocks.

Nvidia shares fell 3.3% to $206.61, bringing the chipmaker’s market value down to $4.98 trillion, below the $5 trillion mark. Nvidia stock has declined more than 9% since the start of October. The Philadelphia Semiconductor Index dropped 5.7%, with AMD down 10%, Arm down 9.5%, Marvell Technology down 5% and Qualcomm down 6.3%. SpaceX also fell more than 5%, reaching its lowest level since August. The broad tech and semiconductor sell-off may weigh on risk appetite, although the report does not cite a specific catalyst.

Crypto custody firms are expanding beyond secure storage into trust services, settlement and asset management as competition and demand for regulated digital-asset services grow. The article says the number of MiCA-authorised crypto custodians in Europe rose from 50 to 230 over the past year. It also cites tokenised real-world assets reaching about $39.8 billion after growing 85%, while stablecoin market value exceeded $300 billion in 2025. Custody providers typically earn fees linked to assets under custody, which can limit revenue growth. Trust services can give firms broader authority to manage assets and provide services such as investment advice, collateral administration and settlement, subject to fiduciary duties and regulatory approval. Anchorage and BitGo are extending their businesses into areas including stablecoin issuance and settlement. Agora and Catena are pursuing investment advisory and asset-management services. The article says all four have obtained or are seeking US national trust bank status; Agora and Catena received conditional preliminary approval from the OCC on 18 September 2026. The shift echoes the historical development of traditional financial institutions that expanded from safekeeping into trust and investment services. For crypto traders, the trend points to deeper institutional infrastructure for tokenised assets and stablecoins, but it does not itself signal an immediate change in cryptocurrency prices. The firms’ ability to win clients will depend on regulatory approvals, product execution, security and demonstrated investment performance.

Trezor is urging customers who bought hardware wallets through former authorized reseller CryptoBilis from March 2026 onward to move their funds to a wallet created with a fresh recovery seed. The warning follows a report that a Trezor Safe 5 purchased on Indonesia’s Tokopedia marketplace may have contained a hardware implant. It could reportedly capture information displayed on the wallet screen, including the recovery phrase, and transmit it over a cellular network. Trezor has not examined the device and says no buyers have reported related losses. It is treating the report as credible and advises customers to consider all Trezor models bought through CryptoBilis potentially unsafe. Restoring an old backup on another device may not protect funds if its seed was exposed. Customers should avoid setting up unopened devices from the reseller, contact Trezor Support and watch for phishing attempts. Trezor ended its official reseller relationship with CryptoBilis in October 2026. The warning follows reports that Ledger devices purchased through the same seller were physically altered; Ledger confirmed an unauthorized hardware implant in one affected device. The cases highlight supply-chain risks for hardware wallets. CryptoBilis buyers should use a trusted device to generate a new seed and never share their recovery phrase.

Binance estimates its late-October security incident affected about $6.3 billion in assets, with partners freezing roughly $3 billion. The exchange said an early investigation points to a compromised DevOps engineer’s laptop and has found no evidence that wallet private keys were exposed. Binance temporarily suspended withdrawals for security checks and says user losses will be covered by its SAFU fund and company resources. The estimates are not final, and a full post-mortem and updated proof of reserves have not been published. Co-founder Changpeng Zhao (CZ) asked Elon Musk to stop mocking the incident on X. Zhao said Binance’s SAFU assets and company holdings could help cover a remaining shortfall, including SpaceX-linked shares he valued at more than $1 billion. Co-CEO Yi He said annual revenue could cover losses without selling those shares. The Binance hack remains a test of exchange security and user confidence; the final financial impact and recovery of funds are still uncertain, which may weigh on short-term market sentiment.

Ripple announced major developments at Swell 2026, including expanded RLUSD access on Coinbase platforms and a broader partnership with Robinhood. BNY expanded custody support to XRP and RLUSD, while Moody’s assigned RLUSD investment-grade ratings. Ripple CEO Brad Garlinghouse called XRP the company’s “North Star,” though he said stablecoins or fiat can suit some transactions. Ripple also received final OCC approval to establish a national trust bank and said its product revenue run rate is nearing $900 million annually. Ripple and C2FO plan to bring supplier-payment settlement to the XRP Ledger, while developers proposed changes that would further restrict unauthorized access to permissioned tokens. Flare joined the XRPL validator list. Despite these business and network developments, XRP fell with the wider crypto market after a major exchange hack. After dropping to a multi-month low of $1.19, XRP remained about 4% lower on the day and 6% down over the week, with its market capitalization below $80 billion.