Crypto News

Hong Kong Fintech Week 2026 will take place from 2 to 6 November under the theme “Fintech Hub: Connecting the World, Building the Future”. The event will be held jointly with StartmeupHK Festival, with its main forum scheduled for 2–3 November at the Hong Kong Convention and Exhibition Centre. The announcement followed the sixth meeting of Hong Kong’s Fintech Taskforce, chaired by Financial Secretary Christopher Hui. Officials discussed proposed rules for virtual-asset trading, custody, advisory and management services. The Hong Kong Monetary Authority also briefed the group on Project Ensemble and quantum readiness in the banking sector. Hong Kong Fintech Week will bring these financial technology and regulatory developments into focus.

GMO Group refused to pay a cryptocurrency ransom after unauthorized access to its cloud desktop service potentially affected 26,739 servers. The attackers initially demanded $50 million in BTC and ETH, later reducing the amount to $1 million. They also threatened abnormal transactions in affected accounts and the release of user data. GMO Group representative Masatoshi Kumagai said the company would not compromise. GMO Coin, the group’s crypto exchange, reported no unusual activity in customer accounts. The attackers published some data and threatened daily updates, but the website hosting the leaked information was shut down on October 28. The GMO Group cyberattack has not, according to the report, resulted in abnormal activity at its exchange.

Bitcoin (BTC) rebounded to about $81,400 after briefly falling below $80,000, while Ether (ETH) also rose as markets awaited the Federal Reserve’s rate decision. CME FedWatch showed a roughly 92% chance that rates would remain unchanged. Traders are watching Chair Kevin Warsh’s press conference for clues about the possibility of future rate hikes. US spot Bitcoin ETFs recorded $176 million in net inflows on Tuesday, marking a second consecutive day of inflows. Crypto futures trading volume rose 7.5% to $163.2 billion over 24 hours, while open interest increased just 1.3%. Liquidations climbed 38% to $183.6 million. BTC gained 2.3% even as its open interest edged down 0.1%, suggesting the rebound was not driven by a major build-up in leverage. ETH rose 2.7%, with open interest up 1.7%. ZEC open interest jumped 14%, outpacing its 6.3% price gain. Deribit data showed the one-week BTC put-call skew fell from nearly 10% a week earlier to below 1%, indicating weaker demand for near-term downside protection. However, one-, three- and six-month options remained tilted toward puts. The signals are mixed as traders weigh ETF inflows, derivatives positioning and the Fed outlook.

SkyAI has raised its proposed cash tender offer to about $214.3 million after reaching a settlement with major shareholder Bastion Trading. The revised offer includes all eligible pre-funded warrants and adds cash stapled warrants, while the common-share tender price remains $3.00. The deadline is now November 12. Bastion agreed to tender its SkyAI securities and observe a three-year standstill, ending a dispute over the offer price. SkyAI said it sold roughly 2 million SOL at an average net price of $107.20 per token and now holds about $223 million in cash. The company does not plan to buy Solana again after the tender closes. SkyAI shares closed at $2.91 on October 27, below the $3.00 tender price. The expanded SkyAI tender offer is a corporate transaction rather than a direct change to Solana’s network or token fundamentals, though the completed treasury sale removes a company-held source of SOL demand.

Ripple and Robinhood have announced a strategic partnership covering RLUSD, treasury management and institutional financing. The deal goes beyond a potential retail token listing: Robinhood plans to use RLUSD on the XRP Ledger for institutional settlement, while integrating Ripple Treasury for cash positioning, forecasting, payments, liquidity management and intercompany netting. RLUSD is available on Robinhood Chain and Bitstamp by Robinhood, but its launch in the main Robinhood app is expected later in 2026. Ripple Prime already provides Bitstamp with financing across about 20 digital assets, with perpetual-futures support planned later this year. The partnership could connect stablecoin settlement, corporate treasury tools and institutional trading services. However, the announcement does not confirm increased XRP demand, specific revenue or broad customer access. Traders should watch for the app rollout, implementation details and evidence of actual transaction volume before treating the deal as a sign of adoption or a price catalyst.

Bitcoin came under renewed pressure, briefly falling to about $79,280 before recovering above $80,000. The move followed an earlier drop to around $81,000 and rebound to $83,635. In the later sell-off, crypto markets recorded $436.44 million in liquidations over four hours, including $404.15 million in long positions. More than 90% of liquidations in Bitcoin and Ether were longs. Earlier figures showed $820.84 million in liquidations over 24 hours, with longs accounting for $689.11 million; Bitcoin and Ether led losses, and Binance represented 50.6% of the total. A subsequent short squeeze may have supported the rebound, but liquidations alone do not confirm a market bottom. Bitcoin ETF flows were mixed. U.S. spot Bitcoin ETFs saw about $679 million in outflows from October 5 to 9, followed by another $65.40 million on October 12. Later, they recorded $773 million in combined outflows on Thursday and Friday, while still ending that week with $304.73 million in net inflows. The withdrawals coincided with price weakness but do not prove its cause. BitMEX co-founder Arthur Hayes said he had closed Maelstrom’s directional trading book and taken profits on some tokens, citing macroeconomic and geopolitical uncertainty. For Bitcoin traders, the immediate test is whether BTC can hold above $80,000. Derivatives open interest, ETF flows, and upcoming U.S. inflation data may help gauge whether selling pressure is easing. Earlier technical levels put support at $80,660, with $74,340 as a lower level to watch, and resistance at $84,000 and $87,145. The sharp Bitcoin long liquidations highlight near-term leverage risk, but do not by themselves establish a lasting trend reversal.

Faroo, Pharos’ native liquid staking protocol, has launched stPROS, a liquid staking token for PROS holders. Users can stake PROS through Binance Web3 Wallet and OKX Web3 Wallet, while stPROS remains transferable and usable in decentralised finance (DeFi). Its exchange-rate model keeps token balances fixed as the amount of redeemable PROS grows with staking rewards. Faroo also offers fast withdrawals when new deposits can cover pending requests. The project was selected as the first initiative in Pharos’ $10 million incubation programme and is built using Bifrost’s SLPx technology. Faroo plans to launch tbPROS, a real-world asset yield product, and Faroo Points by late November 2026. The stPROS launch expands Pharos’ staking and DeFi infrastructure, though its market impact will depend on adoption and demand for PROS.

The UK Financial Conduct Authority (FCA) has opened consultations on how its forthcoming cryptoasset regime will apply to decentralised finance (DeFi) and which activities may be exempt from authorisation. The regime is scheduled to take effect on October 25, 2027. The proposed DeFi guidance says using smart contracts or decentralised protocols does not automatically put a service outside regulation. Regulated firms may remain responsible for operational resilience and financial crime controls when relying on external blockchains, protocols or infrastructure. The FCA says firms should assess risks including smart contract exploits, network outages and limited counterparty visibility, and may need stronger due diligence, transaction monitoring and blockchain analytics. A separate consultation considers possible authorisation exemptions for some stablecoin payment arrangements, proprietary trading and technical services that only enable access to other services or protocols. Responses to both consultations are due by November 18, with final DeFi guidance expected in January 2027. Existing UK crypto businesses are scheduled to apply for authorisation from September 30, 2026, to February 28, 2027; eligible applicants may continue covered services while applications are assessed, but approval is not guaranteed. For crypto traders, the proposals signal closer scrutiny of UK-facing DeFi businesses and greater clarity on regulatory boundaries. They do not impose a direct market-wide restriction or establish a direct price catalyst for cryptoassets.

An analysis of investment returns from 1971 to 2025 found that a portfolio combining U.S. equities with a 20%–30% gold allocation achieved better risk-adjusted returns without sacrificing overall returns. Treasuries reduced volatility but generally lowered returns, and the study found no consistently optimal bond allocation. In portfolios holding equities, bonds and gold, an allocation of about 20% to gold performed well across a wide range of equity weightings, while bonds could be adjusted to manage risk. The findings are partly influenced by the early 1970s, and the analysis found no reliable way to time either gold or bonds. It suggests periodically rebalancing, or rebalancing when allocations drift substantially from their targets. The historical results do not guarantee future performance and do not directly imply a specific move in cryptocurrency markets.

Bitget, Reality and Keyring have published a report examining an on-chain stock basis strategy that combines tokenized stocks, perpetual futures and decentralized lending. The partners plan to develop a stock basis index using Reality’s rTokens, with Keyring responsible for the index methodology and related lending market. A historical simulation covering 15 December 2025 to 19 October 2026 showed annualized net returns of about 7% in-sample and 4% out-of-sample. The reported gross funding-rate premium was approximately 11%–14%. The report cautions that financing costs, execution fees, liquidity and risk management could significantly affect actual returns. The proposed on-chain stock basis strategy aims to capture funding-rate and basis opportunities by pairing rToken holdings with hedged equity perpetual positions.

Binance Wallet has announced that each user can subscribe for up to 6 BNB in the Predict.fun (PREDICT) Prime Sale Pre-TGE event. The sale is scheduled for October 29, from 16:00 to 18:00 Beijing time, and eligible participants must use Binance Alpha Points to take part. After the Pre-TGE period ends, participants will receive a PREDICT Key on BNB Chain. PREDICT tokens are scheduled to be airdropped to users’ Binance Alpha accounts on the token generation event (TGE) day. The 6 BNB cap sets a clear limit for individual participation in the PREDICT Prime Sale.

The Cook Political Report has shifted its ratings for the Nebraska and Kansas governor races toward Democrats, signaling more competitive contests in traditionally Republican-leaning states. Nebraska moved from “Likely Republican” to “Lean Republican,” while Kansas shifted from “Lean Republican” to “Toss Up.” In Nebraska, Republican incumbent Jim Pillen is running against Democrat Lynne Walz. A prediction market put the probability of a Democratic win at 16%, down from 19% a day earlier. The Kansas race has no clear front-runner, according to the new rating. Further polling, campaign events and voter turnout could affect both races and related market odds.

Stellar says its new fee-free network processed 7.02 million payments per second in an internal benchmark. The test used eight machines operating as a single validator, rather than multiple independent validators, and has not been published for independent review. The Stellar Foundation has not decided how the network will connect to the existing blockchain. Stellar’s mainnet, by comparison, processed about 14.16 million transactions on October 23, 2026—an average of roughly 164 transactions per second. Its existing fees were around $0.00012 during recent peak usage. The network has also seen quarterly stablecoin transfers reach $25.1 billion, while tokenized real-world assets were valued at a reported $3.4 billion to $4.1 billion. For XLM traders and Stellar developers, the benchmark signals potential capacity for high-volume payments, but its market significance remains uncertain. Verification across independent validators, a public benchmark and details on how a fee-free system would manage spam and network costs are key outstanding questions. The eventual relationship between the new network and Stellar’s mainnet will determine whether the benefits accrue to the existing ecosystem.

Bitcoin was down 3.3% by October 28, trading near $81,350 and heading for a second consecutive October loss. That contrasts with the average 18% October gain recorded from 2020 to 2024. The article says Bitcoin fell 3.8% in October 2025, breaking that positive run. Demand indicators have weakened alongside the price. CryptoQuant’s 30-day apparent demand measure was -76,000 BTC on October 25 and had remained negative since October 14. The Coinbase Premium was also negative throughout October, averaging -0.093 and reaching -0.146 on October 24, indicating weaker buying pressure on Coinbase than on Binance. Short-term traders’ paper profits fell from about 33% in September to 8%. CryptoQuant’s Bull Score Index declined from 90 in late September and early October to 60 from October 19, although six of its ten components remained positive. The firm described conditions as “bullish, cooling”; a reading of 50 or below would signal a more pronounced loss of momentum. Traders are watching support near Bitcoin’s 365-day moving average at $77,585, the short-term trader cost basis at $74,041, and the 200-day moving average at $73,028. A sustained fall below these levels could put more recent buyers in a loss-making position.

MEXC and blockchain security firm Hacken have released an AI trading safety handbook, offering safeguards for users and platforms adopting automated trading tools. The guide warns of risks including exposed credentials, excessive permissions, manipulated data and unintended trades. It says AI-generated actions should be checked against separate permissions, financial limits and risk controls before execution. For users, the handbook recommends five checks: Ask, Verify, Limit, Control and Review. For platforms, it sets out five principles: Guard, Limit, Approve, Controls and Test. The release follows MEXC’s 2026 survey, which found that willingness to use automated trading increased from 55% to 71.8% when controls on funds, positions, leverage and losses were available. MEXC CEO Vugar Usi Zade and Hacken CEO Dyma Budorin said AI trading should be paired with stronger safeguards, independent controls and ongoing testing.

Circle’s Arc blockchain has surpassed $1 billion in USDC holdings about six weeks after its mainnet launch on September 16, 2026. The network is designed for stablecoin payments and financial applications, and uses USDC to pay transaction fees. The milestone signals early liquidity growth, but adoption is harder to assess: four wallet addresses reportedly hold about 73% of Arc’s USDC. Those wallets may belong to exchanges or institutional custodians, so the concentration does not necessarily indicate a problem. However, the figures do not show how widely independent users are using the network. Trading platform Extended reportedly transferred around $120 million in collateral from Starknet to Arc, illustrating how established platforms can bring liquidity to a new blockchain. Circle’s Arc blockchain will need continued payments, trading, transactions and developer activity to show that capital is being used consistently. Active wallets and broader liquidity distribution will be key measures to watch.

Matrixdock’s RWA platform is using its silver-backed XAGm token to show how real-world asset (RWA) products can account for ongoing custody costs and verify reserves. Launched in March 2026, XAGm is initially backed by one troy ounce of LBMA Good Delivery silver per token. Its Fungible Reserve Standard (FRS) adjusts the silver amount represented by each token over time: the ozPerToken value starts at 1 and declines at an annualized custody fee rate of 0.3%, while the token count in holders’ wallets remains unchanged. In July 2026, Bureau Veritas conducted Matrixdock’s fourth consecutive semiannual independent reserve audit and included XAGm for the first time. It covered 574 gold and silver bars, including 66 silver bars totaling 65,934 troy ounces, and found that the silver reserves matched the circulating XAGm supply based on the applicable ozPerToken value. Matrixdock also expanded XAGm to Sui in May, alongside its Ethereum deployment, to explore trading, collateral and other DeFi uses. The product sits alongside Matrixdock’s short-term US Treasury token STBT and gold-backed XAUm. The development highlights how Matrixdock RWA products are addressing asset-specific costs, reserve verification and on-chain utility. It does not by itself establish material demand or price impact for the broader crypto market.

VRT rose 18.7% over 24 hours and gained 12.9% in the latest hour, according to MSX.COM data. The token was trading at 239.95 USDT at the time of reporting. The data provides no explanation for the move, so traders should monitor price action and liquidity before interpreting the rally as a sustained trend.

AI stocks rose in US premarket trading on 28 October, according to MSX.COM data. Micron led the listed gains, up 4.35%, followed by Nebius (NBIS) at 2.76%, Marvell Technology at 2.25%, AMD at 1.68%, Oracle at 1.31% and Nvidia at 0.83%. The report’s headline also said Astera Labs was up more than 2.21%. The gains point to positive sentiment across AI and semiconductor stocks, but the article provided no direct cryptocurrency market data or specific catalyst.

Onsemi is reportedly in talks to acquire Ferric, a New York startup that makes power-management chips for AI processors, for nearly $1 billion. Neither company has confirmed the negotiations, first reported by The Information. Ferric develops integrated voltage regulators and thin-film magnetic inductors. Its Fe1767 Newport regulator is rated at 145 amps, and the company says it can reduce voltage droop by up to 57% compared with traditional solutions. Ferric estimates its addressable AI power-management market at $10 billion. The reported price is notable because Ferric has raised about $41.8 million, including a $32.1 million Series C in 2024. Deal terms remain unclear and could include earnouts tied to performance targets. If completed, the acquisition would give Onsemi in-house technology for delivering stable power to AI accelerators and high-performance computing systems. For now, the talks remain unconfirmed, and the valuation and product claims have yet to be tested at scale.

Venture capitalist Jason Calacanis called Bitcoin a “dead network” and urged holders to sell, arguing that its utility is limited to being a store of value. His remarks add a high-profile bearish voice to debate over Bitcoin’s long-term use, but the article reports no measurable market reaction or price move tied to his comments. The article also cites prediction-market odds for Bitcoin price targets by the end of 2026, describing confidence in higher targets as low. These odds reflect market expectations on those contracts, not a forecast or guarantee. Traders may watch Bitcoin’s price action, resistance levels and broader catalysts—including regulation and institutional adoption—to gauge whether sentiment is changing.

Crypto events are shifting from large parties and crowded conference halls to smaller, more focused networking. Side events around major conferences such as ETHDenver, TOKEN2049 and Devconnect are increasingly important, offering targeted discussions for groups such as DeFi developers, protocols and market makers. Companies are also favoring curated receptions and dinners over large guest lists, and partnering to share event costs and combine audiences. The article points to growing interest in the US, particularly New York, as crypto firms and traditional financial institutions explore areas including DeFi, tokenization, stablecoins and blockchain infrastructure. For crypto businesses, event success is increasingly judged by relevant connections, partnerships and integrations rather than attendance alone. Large conferences remain useful for visibility, while smaller gatherings may better support focused business development. The article describes industry trends and does not report a specific market-moving announcement.

OpenAI says its AI models produced research results in computer science, physics and mathematics, presenting them as preliminary findings for academic review. The AI research includes a proof that the Exponential Time Hypothesis (ETH)—a longstanding computer science conjecture, not the Ethereum token—does not hold; OpenAI says the result was verified in Lean. MIT professor Ryan Williams reportedly said the work does not appear to break existing cryptographic systems, and OpenAI says practical algorithmic advances will require further research. In physics, OpenAI reports rigorous existence proofs for parts of quantum field theory, including pure Yang–Mills theory. Only the Yang–Mills result has been verified in Lean so far; the underlying proof materials are not yet public. In mathematics, the company says its model proved the local smoothing conjecture in all dimensions, leading to results for the Kakeya and Stein restriction conjectures. Researchers are reviewing the findings, and OpenAI says it does not claim academic credit for discoveries generated by its models. The company also cited a $5 million donation to the Simons Foundation to support academic work on AI-generated research.

An article citing Anthropic’s Claude AI outlines a hypothetical path for an Ethereum “Flippening”—overtaking Bitcoin by market capitalisation. Its proposed catalyst is a US Treasury and financial-industry pilot that would use Ethereum to settle tokenized bonds. The article suggests this could increase demand for ETH as settlement fuel and collateral, while staking and fee burns reduce the available supply. No such announcement is reported; the scenario is speculative. The article puts ETH near $2,350 and BTC near $80,800, with market capitalisations of about $287 billion and $1.62 trillion respectively. At those prices, the ETH/BTC ratio is around 0.029. Given the circulating supplies cited, ETH would need to reach roughly 0.165 against BTC to match its market cap—about a 5.7-fold rise in the ratio. The article’s scenario projects ETH at $13,500 by 1 January 2027, which would imply a market cap near $1.65 trillion if Bitcoin remained around its stated level. It also notes ETH trading near its realized price and 200-day EMA, alongside ETF outflows and falling exchange balances. These indicators do not confirm a reversal. The Ethereum Flippening thesis therefore depends on an unannounced institutional catalyst and continued relative strength in ETH; it is not evidence that the event is imminent.

Bitcoin recovered nearly 2% towards $81,000 ahead of the Federal Reserve’s latest interest-rate decision, but faces a key test near $82,000. A sustained break above that level could put $84,000 in view; rejection could leave BTC vulnerable to a pullback towards $80,000. Markets largely expect the Fed to hold rates steady. However, oil prices surged after renewed Middle East supply concerns, with Brent crude reaching about $115 a barrel and US West Texas Intermediate hitting $101. Higher energy costs could keep inflation elevated, limit the scope for rate cuts and weigh on Bitcoin and other risk assets through stronger dollar and Treasury yields. Developments in Russia-Ukraine diplomacy add uncertainty to the energy outlook. A local ceasefire and possible technical talks in November could eventually affect geopolitical risk and oil supply expectations, but a durable agreement is not assured. Bitcoin’s near-term direction will depend on Fed guidance, oil prices, the dollar and bond yields, as well as whether buyers can overcome resistance.

A Bitcoin whale deposited 438.37 BTC, worth about $35.38 million, into Coinbase Prime on October 28. The address still holds 177.03 BTC after withdrawing 615.4 BTC from the service about 16 months earlier, at an average price of $105,271. The transfer may signal a sale, but it does not confirm one; the whale’s remaining holdings show a paper loss of more than $15 million against the reported current price. Bitcoin traded near $81,445, below its October opening level of $83,624. It must close above that level to avoid a second consecutive red October. Exchange flows were mixed: CryptoQuant data showed a net outflow of 12,570 BTC on October 27, while Binance whale deposits have declined from late-August levels and retail deposits have risen. Traders are watching the Federal Reserve decision and Chair Kevin Warsh’s comments on October 28, followed by U.S. PCE inflation data and Coinbase and Strategy earnings on October 29. A large Bitcoin options expiry is due October 30, with $78,000 identified as max pain. The U.S. midterm elections on November 3 and the Fed’s December 9 meeting are further potential catalysts. Key technical levels are $83,624 resistance, $79,221 support and the 200-day EMA near $76,443.

AI compute stocks rallied on 27 October after disclosures highlighted long-term demand for data-centre capacity and new financing for equipment purchases. The Philadelphia Semiconductor Index rose 3.6%, while Broadcom gained 4.0%, Oracle 3.55%, Cerebras 10.1% and CoreWeave 7.94%. Nvidia rose 0.9%. The gains suggest investors are focusing on companies supplying, financing and renting AI infrastructure, rather than buying every AI-related stock indiscriminately. Media estimates put Anthropic’s long-term compute and infrastructure commitments at up to $807 billion. That figure is not confirmed revenue or a single fully binding order: Anthropic’s S-1 does not state a total, and reported estimates vary. About $417 billion in payment obligations are attributed to signed agreements, with additional potential commitments tied to future deliveries. Separately, Broadcom announced a $63 billion financing arrangement involving Bank of America, Blackstone, Citi and Morgan Stanley. A special-purpose vehicle is expected to buy Broadcom AI accelerators and networking equipment and lease them to Anthropic, with deliveries expected from 2027. The structure could support deployment, but leaves risks around customer payments, financing costs and equipment resale values. Oracle also plans to expand Nvidia system deployments and offer Google TPU capacity and Cerebras inference solutions through its cloud platform. The moves point to wider hardware choices as inference workloads grow, but do not establish confirmed order values or profitability. For traders, stronger demand visibility is supportive for AI infrastructure stocks, but the rally’s durability depends on revenue conversion, cash flow, equipment utilization and funding conditions. Large commitments and financing announcements are not proof of returns.

A crypto address created nine days ago deposited $1.25 million in USDC and began shorting ETH, according to blockchain analytics account Lookonchain. The position was liquidated 13 times, with a cumulative 18,080 ETH in positions valued at $43.9 million liquidated. The address reportedly lost $1.14 million. The incident highlights the risks of leveraged ETH trading, but the report does not indicate a broader market impact.

Blockchain investigator Specter says the Bloom drainer stole nearly $1 million and moved the funds through 2,152 routing and destination addresses. The transfers involved 1,326 Solana addresses, 822 EVM addresses and five Zcash addresses. The pattern of repeatedly splitting and consolidating funds, then moving them across chains, suggests automation. The Bloom drainer also bridged 26.099 ZEC into Zcash’s Sapling shielded pool, potentially making some funds harder to trace.