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Bitcoin plunges to $81,300 support as Fed hike odds hit 55% amid $100 million crypto wipeout

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Bitcoin plunges to $81,300 support as Fed hike odds hit 55% amid $100 million crypto wipeout
Bitcoin fell below $83,000 on Wednesday as hotter-than-expected US core inflation data revived expectations of further Federal Reserve interest rate hikes, triggering a fresh wave of liquidations across the cryptocurrency market. CoinGlass data showed that over $100 million in leveraged positions were liquidated in the hour after the inflation report was released. This also pushed… … Read more

Bitcoin defies $800 million crypto wipeout as South Korea’s AI stock market crashes

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Bitcoin defies $800 million crypto wipeout as South Korea’s AI stock market crashes
Bitcoin rebounded above $83,000 on Tuesday despite a sharp Asian stock selloff, as cryptocurrency liquidations exceeded $800 million. BTC recovered after briefly slipping below $81,000, while semiconductor shares continued a deepening rout that sent South Korea's benchmark KOSPI index down 6%. South Korea's AI stock collapse exposes concentrated market risks Reports noted that South Korea's… … Read more

Bank of America backed crypto AML rules but reported over $5 billion in suspicious activity late

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Bank of America backed crypto AML rules but reported over $5 billion in suspicious activity late
In December 2023, Senator Elizabeth Warren asked Bank of America CEO Brian Moynihan whether crypto companies handling financial transactions should follow the same anti-money-laundering rules as banks. “Absolutely,” he said. On Oct. 13, Treasury announced more than $1.2 billion in penalties against his bank. FinCEN found that Bank of America admitted to willfully violating the… … Read more

Lido DAO exposes token flaw and forces a budget review

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Lido DAO exposes token flaw and forces a budget review
Lido’s DAO is debating whether its 2027 grant budget should guide automated purchases of the LDO governance token. The Oct. 7 discussion puts two choices on the table: link NEST’s revenue threshold to approved spending, or periodically clear the buyback engine’s negative spending counter. NEST had made no purchases funded by its allocator when checked … Read more

Australia moves to close crypto derivatives loophole after retail traders lose A$458 million

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Australia moves to close crypto derivatives loophole after retail traders lose A$458 million
Australia’s markets regulator proposed extending retail leverage restrictions to crypto-settled derivatives amid mounting losses among investors trading risky financial products. On Oct. 12, the Australian Securities and Investments Commission (ASIC) announced it wants to expand its existing contracts-for-difference (CFD) rules to cover qualifying derivatives settled through digital assets, closing a regulatory gap that lets economically … Read more

FTX’s former Bitcoin mining bet gets new life as parent raises €800 million for AI

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FTX’s former Bitcoin mining bet gets new life as parent raises €800 million for AI
SWI Group has raised €800 million to expand AI infrastructure, advancing its plan to repurpose FTX-backed Bitcoin miner Genesis Digital Assets. On Oct. 12, the Amsterdam-listed company announced a capital increase backed by institutional investors, valuing the group at €6.1 billion and bringing total equity raised since March above €1 billion. The financing will support … Read more

Sky’s $4.4 billion liquidity disclosure shows why USDS cash-outs need a separate bank route

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Sky’s $4.4 billion liquidity disclosure shows why USDS cash-outs need a separate bank route
Sky.money reported more than $4.4 billion of stablecoin liquidity in its Peg Stability Module in an Oct. 9 explanation of the conversion mechanism. The PSM gives holders a direct route between USDS, Sky Protocol’s dollar-linked token, and USDC at a one-for-one rate. Those measures answer different questions. Token circulation describes the stock of holdings. Conversion … Read more

IMF finds over half of tokenized US stock trading happens after Wall Street closes

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IMF finds over half of tokenized US stock trading happens after Wall Street closes
More than half of sampled tokenized US stock trading occurs outside Wall Street’s regular hours, the International Monetary Fund (IMF) found. The IMF’s October Global Financial Stability Report also showed that approximately 80% of tokenized equity transactions involved less than one share, providing evidence of demand for fractional investments and around-the-clock access to American securities. … Read more