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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

South Korea clears way for courts to seize and sell Bitcoin for unpaid debts under new November rules

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South Korea clears way for courts to seize and sell Bitcoin for unpaid debts under new November rules
South Korea has established procedures for courts to seize and sell debtors’ cryptocurrency to satisfy civil claims. On Oct. 12, the Supreme Court promulgated Rule 3280, introducing standardized procedures for freezing, transferring, and liquidating digital assets to recover unpaid debts. The regulations take effect on Nov. 1 and cover cryptocurrencies held on exchanges and in … Read more

Global watchdog warns the $300 billion stablecoin market could face bank runs even with full reserves

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Global watchdog warns the $300 billion stablecoin market could face bank runs even with full reserves
The Financial Stability Board (FSB) warned that stablecoins could face redemption crises if, during market stress, reserves become inaccessible across borders. In an Oct. 12 report, the global financial watchdog said stablecoin issuers operating through affiliated entities in different countries could struggle to meet concentrated withdrawal demands when their reserve assets are held elsewhere. The … Read more

France’s tax proposal would tax Bitcoin-to-USDC swaps before investors cash out

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France’s tax proposal would tax Bitcoin-to-USDC swaps before investors cash out
France’s proposed crypto tax changes would make a move from Bitcoin or Ether into certain stablecoins a taxable disposal, even if the investor never withdraws cash. The National Assembly’s Finance Committee adopted amendment I-CF1826 on Oct. 7, adding that proposed exception to a broader overhaul of how private crypto gains are calculated. The provision would … Read more

Standard Chartered brings Ripple’s RLUSD into banking custody after $765 million quarterly surge

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Standard Chartered brings Ripple’s RLUSD into banking custody after $765 million quarterly surge
Standard Chartered has launched custody for Ripple’s RLUSD stablecoin as it prepares to expand its use as collateral for institutional trading. On Oct. 12, the bank announced that eligible institutional clients can now hold RLUSD issued on the XRP Ledger (XRPL) through its Dubai International Financial Center branch, regulated by the Dubai Financial Services Authority. … Read more