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<h2>Tianjin Confiscation Case Opens While London Ownership Fight Continues</h2>TL;DR<ul><li>Chinese prosecutors have applied to confiscate 61,896 BTC seized from Zhimin Qian in the UK.</li><li>A Tianjin court accepted the confiscation case and opened a six-month process for victims and other interested parties.</li><li>The UK High Court ruled that Chinese law should govern victims’ ownership claims to the seized Bitcoin.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Chinese prosecutors have&nbsp;<a href="https://m.thepaper.cn/newsDetail_forward_34246863">applied</a> to confiscate 61,896&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> seized from Zhimin Qian in the UK, while Tianjin No. 2 Intermediate People’s Court has agreed to hear the case. The application seeks&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> and other assets that prosecutors argue are proceeds of a large fundraising fraud. A parallel legal fight remains active in London, where the UK High Court has ruled that Chinese law should govern victims’ claims to the seized cryptocurrency.The Tianjin court said it accepted the prosecutors’ application on September 28 and published its notice on October 13. The court said evidence showed Qian had committed fundraising fraud, mainly in Tianjin’s Hedong district. At a&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin price</a> of around $82,000,&nbsp;<a href="https://coin360.com/review/coin360-dex">COIN360</a> data put the seized Bitcoin’s value at about $5.1 billion. The Chinese proceeding does not itself determine that all confiscated assets will go to the government or that victims will immediately receive compensation.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Prosecutors Link Assets to Multibillion-Yuan Fundraising Scheme</h2>Prosecutors identified Qian as the controller of Tianjin Lantian Gerui Electronic Technology. Between April 2014 and August 2017, the company allegedly sold unlicensed wealth-management products across China while promising guaranteed returns. The scheme raised more than 40.378 billion yuan, or about $5.7 billion, from more than 102,000 investors. Prosecutors said investor losses exceeded 19.977 billion yuan as much of the money was allegedly diverted from genuine business activity.Prosecutors allege funds were instead used to repay earlier investors, operate fictitious investment projects, buy Bitcoin and purchase property, cars, jewelry and other assets. Qian fled China in July 2017 with computers containing Bitcoin wallets and later reached the UK, where some of the cryptocurrency was converted into other assets. British authorities ultimately seized Bitcoin along with additional cryptocurrencies, cash, jewelry and investment holdings connected to the case.The Chinese confiscation application also covers several other cryptocurrencies and financial assets:<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Asset</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Amount or Scope</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bitcoin Cash</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 72,746 units</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bitcoin Gold</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 72,746 units</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bitcoin SV</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 72,746 units</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">XRP</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Around 3.6 million</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Dogecoin</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Some 70 million</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Other assets</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">U.S. dollar, euro and pound cash, jewelry, bank balances and investment portfolios</td> </tr> </tbody> </table></div>UK authorities had already converted the listed non-Bitcoin crypto holdings and placed the proceeds in an interest-bearing account. Chinese prosecutors argue that the seized property should be recovered, returned to victims where applicable and otherwise confiscated. Because Qian had been a wanted fugitive for more than a year, prosecutors said the case falls under Chinese rules allowing confiscation proceedings without the suspect being present.Victims can apply to participate through a WeChat mini-program. Those who do not join the proceeding can still receive repayments from recovered assets. The notice period runs for six months before the court hears the confiscation case. That process leaves the distribution of the assets subject to the court proceedings rather than automatically transferring the entire pool to either the Chinese government or the victims.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>UK High Court Puts Chinese Law at Center of Bitcoin Claims</h2>Qian was sentenced to 11 years and eight months in the UK in November 2025 after pleading guilty to acquiring and possessing criminal property. Weeks after the guilty plea, UK prosecutors told the High Court that they were planning a compensation scheme for victims. They later said victims could instead be compensated through a redress scheme administered from China.Unnamed UK Treasury officials had also privately raised whether the seized Bitcoin could help&nbsp;<a href="https://coin360.com/glossary/wallet-address">address</a> a shortfall in the country’s public finances, the Financial Times reported at the time. Legal experts, meanwhile, argued that victims could be entitled to compensation if they established a sufficient link to the cryptocurrency. AMBCrypto described the London proceeding as involving £3.8 billion, or about $5 billion, in seized Bitcoin.The High Court ruled on October 12 that Chinese law should govern thousands of victims’ claims to the coins, improving the UK government’s chances of retaining the assets. Fieldfisher, the law firm representing claimants, said it is seeking to appeal. The ruling did not decide whether the victims own the Bitcoin because evidence on the substance of Chinese law had not yet been heard.David Phillips, a dispute resolution partner at London law firm SMB, wrote that the decision shows that “a victim cannot necessarily recover cryptocurrency simply by proving: ‘That Bitcoin was bought with money taken from me.’”<blockquote>“Cryptoassets may operate without borders, but proprietary rights in them remain capable of raising intensely territorial questions of applicable law,” Phillips added.</blockquote>Detective Sergeant Isabella Grotto, the lead investigating officer in the case, also described the asset-tracing effort as unusually complex:&nbsp;<blockquote>“This was a long, complex, and unprecedented investigation into the laundering of criminal proceeds through cryptocurrency. Over a number of years, significant efforts were made to move and disguise the funds and convert them into assets in the UK.”</blockquote>This article has been refined and enhanced by ChatGPT.

China seeks confiscation of 61896 BTC seized in UK

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China Seeks 61,896 BTC as UK Court Shapes Qian Victim Claims

<h2>Fund’s Broader Strategy Emerges Months After Crypto-Only Pledge</h2>TL;DR<ul><li>a16z crypto reportedly plans to rename itself a16z Frontier and expand its investment strategy beyond crypto.</li><li>The shift follows its recent pledge that Fund 5 would remain fully dedicated to crypto entrepreneurs.</li><li>General partner Ali Yahya has told investors he is leaving to build his own startup.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Andreessen Horowitz’s&nbsp;<a href="https://coin360.com/news/a16z-crypto-2-2b-haun-ventures-1b-funds">a16z crypto</a> plans to rename itself a16z Frontier and broaden its investment strategy beyond crypto, The Information&nbsp;<a href="https://www.theinformation.com/articles/andreessen-horowitz-drop-crypto-name-flagship-blockchain-fund">reported</a> on October 22, 2026, citing a person briefed on the matter. The reported shift comes five months after the venture firm closed a $2.2 billion fifth fund focused on crypto entrepreneurs.The wider mandate would formalize activity that had already moved beyond&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> startups. a16z crypto has backed Kalshi, a prediction market, and Ornn, an AI compute marketplace. The change would also remove “crypto” from the name of one of Andreessen Horowitz’s most prominent sector-specific investment operations.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Frontier Rebrand Follows a Crypto-Only Fund Commitment</h2>The planned rebrand contrasts with how a16z crypto described Fund 5 when it closed in May. A company spokesperson said the fund was “100% dedicated to investing in crypto entrepreneurs.” Communications partner Paul Cafiero separately said the money was “100% dedicated to investing in crypto entrepreneurs across all stages.”a16z crypto has accumulated substantial capital since launching and its previous funds remain much larger than the latest vehicle. The firm’s fundraising history and recent moves by other venture firms show how investment mandates have expanded alongside crypto-focused strategies.<div class="raw-html-embed"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">a16zfourthcryptofund<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">4.5 billion </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">FundexpandedintoAIandroboticsinJuly</tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">HaunVentures<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">1 billion </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Firm or Fund</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Figure</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Context</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">a16z crypto</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Close to $10 billion across five funds</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Raised since its first&nbsp;350millionvehiclelaunchedin2018</td></tr><tr><td style="border: 1px solid #fff; padding: 8px; color: #fff;">Raised during the 2022&nbsp;bull market</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Paradigm</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">1.2billion</td></tr><tr><td style="border: 1px solid #fff; padding: 8px; color: #fff;">Raised in May with plans to back financial startups outside crypto</td> </tr> </tbody> </table></div>a16z’s fourth vehicle remains its largest crypto fund. Paradigm has also widened its focus, while Framework Ventures and Haun Ventures have expanded their mandates beyond strictly crypto investments. Paradigm had already removed crypto and&nbsp;<a href="https://coin360.com/glossary/web3-companies-projects">Web3</a> language from its homepage in 2023 as reports linked the firm to AI, robotics and other frontier technologies.Crypto venture funding has also declined from the previous year. DefiLlama data showed investment into crypto startups at about $5 billion during the first quarter of 2026, compared with roughly $6 billion a year earlier.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Ali Yahya Plans Departure as a16z Broadens Focus</h2>General partner Ali Yahya has told some investors that he plans to leave a16z and work on his own startup. Yahya joined the firm in 2017 as the crypto team’s first full-time member and was promoted to general partner in 2021.The planned change also leaves Chris Dixon closely associated with the existing crypto operation. Dixon’s a16z crypto biography continued to list him as founder and managing partner of a16z crypto when the reported rebrand emerged. Leo Schwartz called the move “a symbolic shift for one of the most prominent crypto venture operations,” noting Dixon’s longstanding role as a public face of the Web3 movement.This article has been refined and enhanced by ChatGPT.

a16z rebrands crypto fund as a16z Frontier expanding investment mandate

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a16z Crypto Plans Frontier Rebrand as Investment Mandate Widens

<h2>Post-Breach Wallet Activity Challenges Exchange’s “False Alarm” Explanation</h2>TL;DR<ul><li>CoinDCX co-founder Sumit Gupta denied a fresh wallet breach and linked the flagged addresses to its previous hack.</li><li>CoinDCX later said a sweeping process for deposits sent to deprecated addresses failed, causing operational losses that it absorbed.</li><li>ZachXBT and Darcy pointed to post-breach wallet activity that challenged the exchange’s initial explanation.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>CoinDCX’s denial of a fresh hack is facing new scrutiny after on-chain researchers pointed to&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> activity that challenges the exchange’s initial explanation of a suspected $16 million incident.CoinDCX co-founder Sumit Gupta said the flagged addresses had been compromised during an earlier attack, while ZachXBT said one deposit&nbsp;<a href="https://coin360.com/glossary/wallet-address">address</a> remained connected to CoinDCX activity long afterward.Darcy, chief marketing officer at security firm Salus, separately identified links between wallets on CoinDCX’s proof-of-reserves list and the address identified as the suspected attacker’s.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>CoinDCX Says Flagged Wallets Came From Its Previous Hack</h2>Gupta initially rejected claims that CoinDCX’s current wallets had been compromised. “Thanks for highlighting but this is incorrect and CoinDCX wallets are not breached. Pls don’t spread rumours,” he said.Gupta said the addresses tagged by&nbsp;<a href="https://coin360.com/coin/arkham-arkm">Arkham</a> were generated in January 2025 and were compromised during CoinDCX’s July 2025 attack. He said the hackers appeared to be reusing those old addresses. CoinDCX checked its current central and user addresses and found none had sent funds to the flagged wallets, according to Gupta, who added that the exchange’s addresses are publicly listed on its proof-of-reserves page.CoinDCX later&nbsp;<a href="https://x.com/CoinDCX/status/2113235810988531883?s=20">issued</a> a further update on the TQKJQ wallet activity, saying the affected addresses had been compromised during the July 2025 security incident and were subsequently deprecated. The exchange said users had previously been advised not to deposit crypto to those addresses and to verify current deposit addresses through the CoinDCX app or website.According to CoinDCX, the failure resulted in operational losses that were absorbed by the exchange. It said all affected users who deposited crypto to the deprecated addresses were still credited for those deposits.CoinDCX maintained that user funds remained safe and said customer assets continued to be held in segregated cold wallets. The exchange said its current central and user addresses were not affected, no funds from active CoinDCX wallets were compromised, and trading activity continued to operate as usual.<figure class="image"><img src="https://cdn.coin360.com/tweet_2113235810988531883_42d84f7048.webp" alt="tweet-2113235810988531883.webp"></figure>The earlier breach cost CoinDCX about $44.2 million and affected an internal wallet used to provide liquidity on a partner exchange, while customer funds remained safe, according to Gupta.Darcy had raised the latest alert after transfers were observed late on October 21, UTC+8. The movements involved a CoinDCX-reported hot wallet and several deposit addresses sending assets to a single&nbsp;<a href="https://coin360.com/coin/tron-trx">TRON</a> address before the funds were distributed elsewhere.<figure class="image"><img alt="Screenshot 2026-10-22 215352.png" src="https://cdn.coin360.com/Screenshot_2026_10_22_215352_a56c630344.png"></figure><div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Tracked movement</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Amount or address</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Reported initial outflow</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">15.99 million&nbsp;USDT and 5,783.81&nbsp;TRX</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Largest single transfer</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 15.82 million USDT</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Address identified as suspected attacker’s</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">TAg6SZ1HhgVVjUaKY1paQoFBUS2JFrg5bT</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">CoinDCX PoR-listed address</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">TFLxNHunhEizmeEdiMyA3r2XGLSKaEznGd</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">CoinDCX PoR-listed address</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">TM5r1bNJ2TjZwfS757tPPtr84MwtEjL9qN</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Gas distributed by TFLxN…</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">15 TRX</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Tracked to&nbsp;OKX</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 5.47 million USDT, plus a separate 50,000 USDT</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Tracked to&nbsp;Binance</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 2.02 million USDT</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Tracked to Gate</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 1.39 million USDT</td> </tr> </tbody> </table></div><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>ZachXBT Challenges CoinDCX’s Old-Wallet Explanation</h2>ZachXBT&nbsp;<a href="https://x.com/zachxbt/status/2113191832561778974?s=20">disputed</a> the claim that the flagged wallets were simply abandoned addresses being reused by attackers. He said CoinDCX deposit address TQKJQ remained in use by a liquidity provider for 10 months after the earlier incident, swept user deposits and received gas from CoinDCX activity as recently as April and May 2026.<blockquote>“Meaning $15.8M in user deposits was unaccounted for by your team,” ZachXBT wrote.</blockquote><figure class="image"><img src="https://cdn.coin360.com/orshot_1792681028785_47b4057348.webp" alt="orshot-1792681028785.webp"></figure>Gupta then acknowledged the wallet activity cited by ZachXBT and said CoinDCX was examining it further.<blockquote>“Yes, aware of that. we’re investigating it further, and will share an update soon. We assure that no user funds will be at loss,” Gupta said.</blockquote><figure class="image"><img src="https://cdn.coin360.com/tweet_2113208653860004264_20261022_215900_via_10015_io_56b5748f25.png" alt="tweet_2113208653860004264_20261022_215900_via_10015_io.png"></figure>ZachXBT later&nbsp;<a href="https://x.com/zachxbt/status/2113264816546873716?s=20">escalated</a> his criticism of the exchange. He wrote that CoinDCX had publicly and privately denied that a theft occurred before saying:<blockquote>“Later they disclosed the $16M theft and wasted everyone’s time instead of being transparent with the public initially.”</blockquote><figure class="image"><img alt="orshot-1792681244891.webp" src="https://cdn.coin360.com/orshot_1792681244891_ceeb726a70.webp"></figure>ZachXBT also said he had helped freeze “6 figures” for CoinDCX and named&nbsp;<a href="https://coin360.com/coin/wazirx-wrx">WazirX</a> and BitBNS while criticizing Indian centralized exchanges.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Darcy Points to CoinDCX Proof-of-Reserves Wallets</h2>Darcy separately&nbsp;<a href="https://x.com/DarcyAri/status/2113206998028480778?s=20">said</a> two addresses included in CoinDCX’s latest proof-of-reserves report had transferred funds to the address identified as the suspected attacker’s. Darcy also said the TFLxN… hot wallet continued distributing gas both before and after the incident CoinDCX associated with its earlier compromise.<blockquote>“If @CoinDCX was not hacked, then it appears to have stolen its users’ assets itself,” Darcy wrote.</blockquote>After highlighting the continued gas payments, Darcy asked:<blockquote>“Are you suggesting that the hackers were handling gas funding distribution for you?”</blockquote>Both statements were allegations based on Darcy’s interpretation of the wallet activity.<figure class="image"><img src="https://cdn.coin360.com/orshot_1792680924733_d891c14ef4.webp" alt="orshot-1792680924733.webp"></figure>Darcy’s tracking also showed part of the transferred USDT reaching centralized exchanges. Some funds went to addresses linked to Huione and Xinbi.&nbsp;<a href="https://coin360.com/glossary/blockchain">Blockchain</a> analytics firm Elliptic has linked those Telegram-based marketplaces to large-scale money laundering.CoinDCX’s latest explanation attributes the disputed wallet activity to deposits sent to deprecated addresses and a temporary failure in its sweeping process rather than a compromise of its active wallets. ZachXBT and Darcy, however, pointed to continuing links between those deprecated addresses, user deposits, current hot-wallet operations and wallets included in CoinDCX’s proof-of-reserves records.This article has been refined and enhanced by ChatGPT.

CoinDCX faces scrutiny over suspicious 16M crypto wallet transfers

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CoinDCX Denial Faces Fresh Scrutiny Over $16M Wallet Movements

<h2>Customers can convert deposits 1:1 into SoFiUSD for crypto purchases and transfers</h2>TL;DR<ul><li>SoFi launched SOFIE, an interest-bearing tokenized bank deposit paying 4.4% APY with FDIC insurance.</li><li>SOFIE can be converted 1:1 into SoFiUSD for crypto purchases or transfers to supported external wallets.</li><li>SoFi expects to complete the SOFIE rollout to its crypto members in November.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>SoFi Technologies has&nbsp;<a href="https://investors.sofi.com/news/news-details/2026/SoFi-Launches-SoFi-Earn-SOFIE-the-First-and-Only-National-Bank-Issued-Tokenized-Deposit-for-Consumers/default.aspx">launched</a> SoFi Earn, or SOFIE, an interest-bearing tokenized deposit offering a 4.4% annual percentage yield and Federal Deposit Insurance Corporation coverage within applicable limits. SoFi said the product marks the first time a U.S. national bank has offered tokenized deposits directly to individual customers.Each SOFIE represents $1 held on deposit at SoFi Bank and remains interest-bearing until a customer converts it. Members access SOFIE through SoFi Crypto and can exchange it at a 1:1 rate for SoFiUSD, the bank’s&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoin</a>. The converted funds can then be used to buy cryptocurrencies through the SoFi app or transferred to a supported external&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> around the clock.The insurance distinction applies to the bank deposit rather than the stablecoin. SOFIE qualifies for FDIC insurance within applicable limits while held as a deposit, but SoFiUSD is not an FDIC-insured deposit. SoFi expects to finish rolling out SOFIE to its crypto members in November.SoFi CEO Anthony Noto said the product was designed to keep funds earning interest while they remain inside the digital asset ecosystem.<blockquote>“Too much money in the digital asset ecosystem is sitting idle, leaving massive potential earnings on the table for millions of people,” Noto said.&nbsp;</blockquote><blockquote>“We believe your money should keep working for you until the moment you need it. SoFi Earn combines the earning power and protections of a bank deposit with the speed and utility of digital assets, giving people more value, flexibility, and control over their money.”</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SoFi Targets Idle Stablecoin Balances</h2>SoFi cited Federal Reserve research estimating that roughly $64 billion, or about 21% of the stablecoin market, sits in forgotten or inactive wallets. The company positioned SOFIE as an alternative that allows funds to continue earning interest before users convert them for crypto purchases or&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a>-based transfers.The launch is SoFi’s fifth crypto product rolled out in under a year. The company returned to consumer crypto trading in late 2025 after previously exiting the business, becoming the first nationally chartered U.S. bank to offer the service to consumers. SoFi Crypto now supports trading in more than 40 cryptocurrencies.SoFi introduced consumer crypto trading in November 2025 and<a href="https://coin360.com/news/sofiusd-stablecoin-sofi-bank-launch">&nbsp;launched SoFiUSD</a> a month later. SoFiUSD was launched across&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> and&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> and was described as the first stablecoin issued by a U.S. national bank. SoFi later brought the stablecoin into its consumer app in May, when the company also outlined plans covering tokenized deposits, cross-border transfers and additional institutional integrations.SoFi expanded the stablecoin’s payments role again in September, when it began using SoFiUSD to settle card transactions over Mastercard’s global payments network. SoFi said the card program was expected to exceed $25 billion in annualized volume. SoFiUSD is now used to settle the company’s entire card program over the Mastercard network.The company has also launched Big Business Banking, allowing companies to combine fiat and crypto services on a single regulated platform. Its broader digital asset expansion has included business banking for digital assets and a stablecoin arrangement involving cryptocurrency exchange&nbsp;<a href="https://coin360.com/exchange/kraken">Kraken</a>.This article has been refined and enhanced by ChatGPT.

SoFi launches SOFIE tokenized deposit offering 4.4% APY yield

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SoFi Launches SOFIE Tokenized Deposit With 4.4% APY and FDIC Insurance

<h2>Independent committees are weighing the tie-up as Musk flags major shareholder hurdles</h2>TL;DR<ul><li>Elon Musk publicly backed a potential Tesla-SpaceX merger, but said an agreement is far from certain.</li><li>The companies collectively hold 30,221 BTC, potentially putting about $2.5 billion of Bitcoin on one balance sheet.</li><li>Special committees of independent directors are reviewing the proposal, with Tesla shareholder approval posing a key hurdle.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Elon Musk has publicly endorsed a possible merger between Tesla and SpaceX that would combine the companies’ substantial&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> holdings under one corporate structure. Special committees of independent directors from both companies are examining the proposal, but Musk stressed that the transaction remains exploratory rather than agreed.Together, Tesla and SpaceX hold 30,221&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> worth roughly $2.5 billion based on a recent&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin price</a> near $83,000, according to the price level cited alongside the holdings.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Musk Says Independent Directors Are Reviewing the Merger</h2>Musk&nbsp;<a href="https://www.fool.com/earnings/call-transcripts/2026/10/20/spacex-spcx-q3-2026-earnings-call-transcript/">discussed</a> the potential transaction during SpaceX’s third-quarter earnings call on Oct. 20 after shareholders requested consideration of a combination. Because Musk holds substantial ownership stakes and executive positions at both companies, he cannot participate directly in the negotiations between the independent committees.<blockquote>“I mean, this is definitely kind of a question where I feel like I’m tap dancing through a mine field,” Musk said when asked about the prospects for a deal.</blockquote>He characterized the process as an “odd kabuki dance,” with independent directors from the two companies discussing a possible transaction without his direct involvement.Musk nonetheless made his own preference clear.<blockquote>“Do I think it would be a good idea? Yes,” he said.</blockquote>He also cautioned against treating a merger as “a certainty,” saying that would be “overstating it.”Asked whether the committees would ultimately reach an agreement, Musk said:<blockquote>“And obviously, there’s no guarantee that they will.”</blockquote>Tesla’s approval requirements present another hurdle. Musk said a transaction would need support from 50% of all Tesla shares outstanding, rather than simply a majority of shares participating in a vote. He identified artificial intelligence, chip manufacturing, robotics, orbital infrastructure and connectivity as areas that could be brought together through a combination.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Tesla and SpaceX Would Combine Two Large Bitcoin Holdings</h2>The merger would place Tesla’s and SpaceX’s existing Bitcoin holdings on a single corporate balance sheet.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Company</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Bitcoin Holdings</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported Basis</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">SpaceX</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">18,712 BTC</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">S-1 filed ahead of its June IPO</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Tesla</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">11,509 BTC</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Most recent quarterly filing</td> </tr> </tbody> </table></div>At a Bitcoin price above $84,000 on Wednesday, the combined holdings were valued at approximately $2.54 billion, potentially making the merged company the world’s sixth-largest publicly traded corporate Bitcoin treasury.SpaceX’s position only became visible to public markets through its IPO filing. The disclosed balance was more than double the amount&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> trackers had previously attributed to SpaceX wallets. The combined acquisition cost of the companies’ holdings has been estimated near $1.05 billion.Neither company has signaled plans for significant new Bitcoin purchases or sales. SpaceX last moved coins in prior years, while Tesla has reported no changes to its position. A merger would therefore consolidate existing Bitcoin rather than create fresh cryptocurrency demand.A combined company would also change how the holdings are governed and reported. The Bitcoin position would sit inside one public corporate vehicle subject to quarterly disclosures and fair-value accounting. Tesla recently recorded a loss under fair-value accounting as Bitcoin declined.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SpaceX Reports Strong Third-Quarter Results</h2>The merger discussion followed a quarter in which SpaceX reported $14.6 billion in revenue, representing 161% year-over-year growth. Net income reached $4.4 billion, while adjusted earnings before interest, taxes, depreciation and amortization totaled $8.8 billion.SpaceX’s AI operations generated $7.6 billion, while Starlink ended the quarter with 13.6 million consumer subscribers. Musk also pointed to expected constraints around computing capacity.<blockquote>“I think we’re going to face a shortage of super intelligence compute. And that shortage is going to remain for a long time,” he told analysts.</blockquote>Musk’s estimated personal wealth stood near $993 billion on Oct. 21, according to Forbes, after previously crossing the $1 trillion level.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Tesla Has Yet to Restore Bitcoin Payments</h2>Tesla’s Bitcoin holdings remain separate from its payment policy. The automaker stopped accepting Bitcoin for vehicles in May 2021, when Musk said the company could reconsider once Bitcoin mining reached approximately 50% clean-energy usage while showing an improving trend.Cambridge University’s 2025 mining research estimated that sustainable electricity sources accounted for 52.4% of surveyed Bitcoin mining operations. Tesla nevertheless does not currently accept Bitcoin for vehicle purchases, while SpaceX has not introduced Bitcoin payments for its services.A Tesla-SpaceX merger would therefore combine billions of dollars of existing Bitcoin holdings without changing either company’s current approach to accepting the cryptocurrency from customers. The transaction itself remains under review by the two independent committees, with no guarantee that they will agree on a deal.This article has been refined and enhanced by ChatGPT.

Tesla and SpaceX consider merging 30,221 Bitcoin treasury holdings together.

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Tesla-SpaceX Merger Talks Could Create Major Corporate Bitcoin Treasury

<h2>Existing rewards programs will get no automatic protection under the new framework</h2>TL;DR<ul><li>The OCC finalized its GENIUS Act framework for payment stablecoin issuers before the law takes effect on January 18, 2027.</li><li>The rule sets standards for reserves, redemption, risk management, custody, capital, applications and issuer supervision.</li><li>Existing stablecoin rewards programs will be reviewed case by case rather than treated as automatically compliant.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>The Office of the Comptroller of the Currency&nbsp;<a href="https://occ.gov/news-issuances/news-releases/2026/nr-occ-2026-92.html">finalized</a> its GENIUS Act rule, establishing requirements for payment&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoin</a> issuers under its supervision while making clear that existing rewards programs will not automatically qualify under the law.&nbsp;The framework applies to subsidiaries of national banks and federal savings associations, federally approved nonbank issuers, some state-qualified issuers, foreign issuers and certain custody activities at OCC-supervised firms. The OCC said separately that it will announce when it begins accepting applications and waiver requests.Most requirements are housed in a new section of OCC regulations covering reserve assets, redemption, risk management, audits and reporting, custody, applications, foreign issuer supervision and a capital and operational backstop.&nbsp;The framework also addresses transitions for state-qualified issuers and circumstances in which the OCC can revoke approval. Bank Secrecy Act, anti-money laundering and sanctions requirements are excluded from this rule and are being handled separately with the Treasury Department.Comptroller of the Currency Jonathan Gould said:&nbsp;<blockquote>“We are providing a clear, practical framework for payment stablecoin innovation, with strong standards for reserve backing, redemption, and risk management.”&nbsp;</blockquote>Treasury Secretary Scott Bessent also said:&nbsp;<blockquote>“The OCC’s final rule carries that landmark legislation forward, providing a clear, practical foundation for private-sector innovation, competition, and American leadership in digital assets.”</blockquote>The OCC changed its reserve requirements from the proposed version, adopting what it called “a principles-based approach with respect to reserve asset diversification and concentration requirements.”&nbsp;The regulator said that approach is supported by requirements to “ensure a minimum amount of daily liquidity and avoid excessive concentration with respect to a single counterparty.” OCC officials also said the framework would create “opportunities for a range of institutions,” including community banks, to participate in stablecoin activity.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Stablecoin rewards face case-by-case OCC review</h2>The rewards provision does not provide a blanket exemption for programs already offered by exchanges and other firms. The GENIUS Act prohibits payments made “solely in connection with the holding, use, or retention of such payment stablecoin.”&nbsp;The OCC said it “will apply the language of the statute to the facts and circumstances of any particular arrangement,” while indicating that a reward that “might be made, at least in part, for other reasons” would fall outside that prohibition.Existing programs therefore receive no automatic safe harbor.&nbsp;<blockquote>“The OCC declines to presume that rewards programs that predated the GENIUS Act comply with the GENIUS Act,” the final rule states. “The fact that Congress may have had notice of these rewards programs does not necessarily imply that Congress endorsed them as permissible.”&nbsp;</blockquote>The final version also removed what the proposed rule had called “rebuttable presumptions” for specified activities assumed to violate the restrictions.The issue affects established rewards products already offered through secondary platforms. Current examples in the provided material include:<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Program</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Stablecoin</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reward</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">PayPal</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">PYUSD</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">4%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Coinbase One</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">USDC</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">3.75%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Kraken+</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">USDG</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Up to 4.5%</td> </tr> </tbody> </table></div>The rewards dispute has also intersected with efforts to amend the framework through the Digital Asset Market Clarity Act. The OCC said commenters had urged it to consider potential changes from that legislation, but the regulator rejected treating possible future amendments as current law.&nbsp;<blockquote>“Unless and until such legislation passes, the OCC must implement the GENIUS Act’s yield prohibition, as enacted,” it said.</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Other regulators are still completing GENIUS Act rules</h2>The GENIUS Act was signed into law in July 2025 and restricts U.S. payment stablecoin issuance to permitted issuers while limiting digital asset service providers from offering or selling&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> to Americans unless the assets come from permitted issuers or qualifying foreign issuers.&nbsp;Treasury Secretary Scott Bessent compared the legislation with Abraham Lincoln’s National Currency Act of 1863, which he said “established a national framework for bank-issued currency.”The OCC proposed its implementing framework in February with a 60-day comment period. Treasury’s Financial Crimes Enforcement Network and Office of Foreign Assets Control separately proposed anti-money laundering and sanctions requirements in April, including compliance programs, suspicious activity reporting and sanctions controls. Regulators subsequently missed the law’s earlier July deadline for completing the rules.Gould said in August that the OCC was “very intent on moving quickly and getting a final rule out by November so that we will be able to start processing applications within the new year.” The final rule is now complete, but the OCC said the actual start of application and waiver-request intake will be announced separately.Other agencies still have&nbsp;<a href="https://coin360.com/news/genius-act-senate-passes-stablecoin-regulation">GENIUS Act</a> work underway. The Federal Deposit Insurance Corp. issued application standards before proposing its approach for state-chartered institutions in April. Treasury proposed its broader implementation in August after the earlier FinCEN and OFAC action, while the Federal Reserve subsequently proposed procedures, capital standards and reserve requirements for stablecoin-issuing subsidiaries of member banks.The OCC received hundreds of comments from crypto companies, community bankers, trade groups, academics and others. Citing “the nascency of the industry,” the regulator said it would monitor the sector’s development and adjust its framework where necessary. The broader implementation process is continuing while other federal agencies complete their respective rules.This article has been refined and enhanced by ChatGPT.

Cubic robot stamping stablecoin compliance papers in an OCC office

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OCC Finalizes GENIUS Act Rule as Stablecoin Rewards Face Review

<h2>Eligible investors can contribute crypto directly for Grayscale fund shares</h2>TL;DR<ul><li>Grayscale added in-kind investing across 10 digital asset products, allowing eligible investors to exchange crypto directly for shares.</li><li>Estimated minimum investments range from about $80,300 for GSOL to $364,800 for the Bitcoin Mini Trust ETF.</li><li>The expansion follows the SEC’s approval of in-kind creations and redemptions for crypto ETPs.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Grayscale&nbsp;<a href="https://www.globenewswire.com/news-release/2026/10/21/3385595/0/en/grayscale-expands-access-to-in-kind-transfers-across-its-digital-asset-investment-platform.html">expanded</a> in-kind subscriptions across 10 digital asset investment products on Oct. 21, allowing eligible investors to contribute crypto directly in exchange for fund shares instead of first selling their tokens for cash. The program covers products tied to&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a>,&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>,&nbsp;<a href="https://coin360.com/coin/avalanche-avax">Avalanche</a>,&nbsp;<a href="https://coin360.com/coin/chainlink-link">Chainlink</a>,&nbsp;<a href="https://coin360.com/coin/dogecoin-doge">Dogecoin</a>,&nbsp;<a href="https://coin360.com/review/hyperliquid">Hyperliquid</a>,&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a>,&nbsp;<a href="https://coin360.com/coin/sui-sui">Sui</a>,&nbsp;<a href="https://coin360.com/coin/xrp-xrp">XRP</a> and&nbsp;<a href="https://coin360.com/coin/zcash-zec">Zcash</a>.Grayscale announced the feature by saying, “Introducing in-kind investing at Grayscale: contribute eligible digital assets directly in exchange for shares of a Grayscale product.” The company said the structure reduces the burden of self-custody, may lower execution costs and allows crypto holdings to be incorporated into conventional portfolio management.Grayscale also said the option gives investors access to traditional brokerage and retirement accounts, collateral use and other portfolio management tools. The company describes itself as the world’s largest digital asset investment platform by assets under management as of Sept. 30, 2026.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Which Grayscale products support in-kind investing?</h2>The program covers the following products:<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Product</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Ticker</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Avalanche Staking ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">GAVA</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Bitcoin Mini Trust ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">BTC</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Chainlink Trust ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">GLNK</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Ethereum Staking Mini ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">ETH</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Dogecoin Trust ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">GDOG</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Hyperliquid Staking ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">HYPG</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Solana Staking ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">GSOL</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale Sui Staking ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">GSUI</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Grayscale XRP Trust ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">GXRP</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">The Zcash ETF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">ZCSH</td> </tr> </tbody> </table></div>Minimum investments differ by product. Grayscale’s Solana Staking ETF carries the lowest estimated minimum at about $80,300, while the Bitcoin Mini Trust ETF has the highest at about $364,800. The stated amounts are estimates.Steve Vanourny, Head of Index at Grayscale, said the company sees institutional custody as part of the appeal.<blockquote>“As digital assets mature, investors are seeking more secure and efficient ways to manage their crypto holdings,” Vanourny said. “With growing cybersecurity threats, including self-custody and&nbsp;<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a> exploits, institutional custody is increasingly valuable.”</blockquote>Vanourny said in-kind investing connects direct crypto ownership with traditional portfolio management by giving investors access to professionally managed investment products and related portfolio tools.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>In-kind activity grows after SEC approval</h2>Use of in-kind transactions has also increased within the U.S. Bitcoin ETP market where the mechanism is available. Their share of Bitcoin ETP activity increased from 28% in March to 62% in June, reflecting a larger proportion of activity conducted through direct asset exchanges rather than cash-based transactions.The U.S. Securities and Exchange Commission approved in-kind creations and redemptions for crypto ETPs in July 2025. Those approvals covered transactions conducted by authorized participants. Grayscale’s program extends a way for eligible investors to contribute tokens directly for shares, subject to product-specific terms and intermediary requirements.<blockquote>“It’s a new day at the SEC,” Chairman Paul Atkins said at the time. “Investors will benefit from these approvals, as they will make these products less costly and more efficient.”</blockquote>This article has been refined and enhanced by ChatGPT.

Grayscale in-kind investing connects crypto holdings with traditional fund shares

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Grayscale Opens In-Kind Crypto Subscriptions Across 10 Investment Products

<h2>Votor replaces TowerBFT as validators complete a live consensus migration</h2>TL;DR<ul><li>Solana activated Alpenglow on Oct. 21, reducing targeted transaction finality from 12.8 seconds to about 150 milliseconds.</li><li>Votor moves validator voting offchain and required participation representing at least 82% of staked SOL for the transition.</li><li>Existing applications, smart contracts and fee mechanisms remain intact, while Rotor and Quantumglow are planned or researched follow-on changes.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Solana&nbsp;<a href="https://x.com/solana/status/2112906742585512150">activated</a> its Alpenglow consensus upgrade on Oct. 21, replacing TowerBFT and targeting transaction finality of about 150 milliseconds instead of 12.8 seconds. Anza said Alpenglow reached&nbsp;<a href="https://coin360.com/glossary/mainnet">mainnet</a>-beta at slot 459,653,000 at approximately 14:00 UTC, retiring the consensus protocol Solana had used since its March 2020 launch.<figure class="image"><img alt="tweet_2112906742585512150_20261021_222314_via_10015_io.webp" src="https://cdn.coin360.com/tweet_2112906742585512150_20261021_222314_via_10015_io_063e3d7a9b.webp"></figure>The&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> Foundation has described the change as a roughly 99% improvement in finality speed, although actual performance will depend on network conditions.Alpenglow changes how validators reach agreement by replacing Solana’s previous two-step confirmation process with a single-step system. Its Votor voting protocol lets validators communicate votes directly rather than recording each vote as an onchain transaction.Votor aggregates those votes into certificates that can establish consensus in one or two rounds. Under the previous system, validator votes consumed network capacity and transactions required multiple confirmation rounds before becoming irreversible.The migration was designed to complete within a single slot following an approximately 18-minute transition period as validators prepared to switch from TowerBFT to Votor. Completion required participation from validators representing at least 82% of staked&nbsp;<a href="https://coin360.com/coin/solana-sol">SOL</a>.Alpenglow does not change transaction execution, leaving existing applications,&nbsp;<a href="https://coin360.com/glossary/smart-contracts">smart contracts</a> and transaction fee mechanisms intact. Validator votes will also stop appearing as ordinary&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> transactions, meaning reported transaction counts could fall without a corresponding decline in user activity.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Alpenglow testing leads into Rotor and Quantumglow work</h2>Anza first published the Alpenglow design in May 2025. Testing before deployment included red teaming, penetration testing, repeated migration rehearsals and a security competition, while Solana’s testnet and devnet were used for testing in September.Anza CEO Brennan Watt said, “This is the largest, most ambitious blockchain upgrade since '<a href="https://coin360.com/news/ethereum-gas-limit-eric-trump">The Merge</a>,' and Anza took it from a white paper to running on mainnet in under 18 months.”Alpenglow was also billed as the “biggest consensus upgrade in Solana’s history.”Rotor is designed as another component of the broader Alpenglow initiative, changing how block data is distributed across the network. Anza has also outlined geographically aware leader rotations intended to reduce delays between block producers. Rotor does not have a scheduled activation date, and the additional protocol changes outlined by Anza have no confirmed release dates.A separate research design called Quantumglow would replace Alpenglow’s elliptic-curve cryptography with&nbsp;<a href="https://coin360.com/glossary/hash">hash</a>-based signatures to&nbsp;<a href="https://coin360.com/glossary/wallet-address">address</a> post-<a href="https://coin360.com/glossary/quantum-computing">quantum</a> security while preserving its finality speed. Separately, Jump Crypto’s Firedancer team proposed removing Solana’s 60 million compute-unit block limit in September 2025. Proposal SIMD-0370 would allow block capacity to scale with validator hardware instead of remaining fixed.This article has been refined and enhanced by ChatGPT.

Solana Alpenglow upgrade cuts finality speed for cubic robot validator

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Solana Activates Alpenglow, Cutting Finality to 150 Milliseconds

<h2>New organization targets payments, apps and commerce as DogeOS infrastructure remains unfinished</h2>TL;DR<ul><li>Dogecoin Labs brings MyDoge, DogeOS and Such App under one organization led by CEO Jordan Jefferson.</li><li>MyDoge has more than 500,000 users, while Such App already supports invoices and in-person QR payments.</li><li>DogeOS has opened its public test network, but featured applications and its planned Dogecoin security link are not yet complete.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr><a href="https://coin360.com/coin/dogecoin-doge">Dogecoin</a> Labs has&nbsp;<a href="https://www.globenewswire.com/news-release/2026/10/21/3385425/0/en/dogecoin-labs-unites-dogecoin-s-product-teams-technology-and-applications-to-lead-a-new-chapter-for-doge.html">launched</a> in partnership with the Dogecoin Foundation, bringing the MyDoge&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a>, DogeOS application platform and Such App payments product under one independent organization led by CEO Jordan Jefferson. The company will focus on consumer applications, payments, commerce,&nbsp;<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a>, gaming and other products designed to expand how&nbsp;<a href="https://coin360.com/coin/dogecoin-doge">DOGE</a> can be used, while the Foundation continues its ecosystem stewardship and open-source development work.Jefferson, founder of MyDoge and DogeOS, said the new structure is intended to combine builders working across different parts of the Dogecoin ecosystem.<blockquote>“No other digital asset has Dogecoin's combination of liquidity, community and cultural reach, and its potential has barely been tapped,” Jefferson said in a statement. “We formed Dogecoin Labs to change that, bringing Dogecoin's top builders together in one organization.”</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>MyDoge, DogeOS and Such App form the product stack</h2>The planned structure connects three parts of a DOGE-focused product ecosystem. Developers can build applications on DogeOS, holders can access those applications through MyDoge, and merchants can use Such App to accept payments. Such App’s beta already supports invoicing and in-person QR payments, although its connection to DogeOS remains in the planning stage. Such App was developed by House of Doge and Brag House.MyDoge said it has grown to more than 500,000 users without paid acquisition. Its V3 update connects the wallet with applications being developed on DogeOS. The Dogecoin Foundation and House of Doge, the Foundation’s commercial arm, are contributing intellectual property and development teams to the new organization. The Foundation will continue supporting open-source development, advocacy and community work, while Dogecoin Labs concentrates on products and commercial opportunities.DogeOS opened its&nbsp;<a href="https://coin360.com/glossary/ethereum-virtual-machine">EVM</a>-compatible public test network on Sept. 30, allowing developers to build&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>-style lending services, exchanges and games using test DOGE. Dogecoin itself continues to handle coin transfers, while those applications operate on a separate system.Three weeks later, DogeOS’s public user guide continued to mark its featured applications as “coming soon.” Its planned security connection with the Dogecoin&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> also requires further development. DogeOS wants the Dogecoin network to verify mathematical proofs showing that applications ran correctly, but the proposed rule change needed to enable that remains a draft. Until that connection is implemented, users must rely on DogeOS’s selected operators and hardware to verify application operation.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Dogecoin Labs targets utility beyond meme-driven demand</h2>Dogecoin was created in 2013 as a joke and features a&nbsp;<a href="https://coin360.com/coin/shiba-inu-shib">Shiba Inu</a> image, but the new initiative is focused on expanding its use through applications and commerce. The Dogecoin price had gained 3.9% over the previous 24 hours and was trading around 8.2 cents, according to&nbsp;<a href="https://coin360.com/review/coin360-dex">COIN360</a> data.The product push follows weaker demand for Dogecoin through traditional investment products. Bitwise announced plans in September to <a href="https://coin360.com/news/bitwise-dogecoin-etf-close-solana-inflows">close its Dogecoin ETF</a>. CEO Hunter Horsley said earlier this month that the fund’s failure highlighted a gap between investors who use crypto ETFs and users who access crypto through brokerage applications.Jefferson had also discussed efforts earlier this year to expand the Dogecoin ecosystem beyond its reliance on Elon Musk’s public endorsements, pointing to new teams, investment and applications being built around the network.<blockquote>“There's teams like us coming in, and investment opportunity, and all this potential and I mean crazy, crazy things on the horizon I wish I could tell you about, but like some big stuff that's gonna really open the industry's eyes,” Jefferson said at the Consensus Miami conference.</blockquote>This article has been refined and enhanced by ChatGPT.

Dogecoin Labs robot unifies MyDoge, DogeOS, and Such App infrastructure.

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Dogecoin Labs Launches to Unite MyDoge, DogeOS and Such App

<h2>Trustee cites unfinished creditor procedures as billions in Bitcoin remain undistributed</h2>TL;DR<ul><li>Mt. Gox moved its creditor repayment deadline to October 31, 2027, with court permission.</li><li>Many creditors remain unpaid because required procedures are incomplete or payments encountered processing problems.</li><li>Arkham data showed 34,387.51 BTC worth $2.88 billion remained in Mt. Gox-linked wallets on September 30.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Mt. Gox rehabilitation trustee Nobuaki Kobayashi has&nbsp;<a href="https://www.mtgox.com/img/pdf/20261016_b3a13e0f-55f6-4653-913b-be80762390e8_announcement_en.pdf">extended</a> the deadline for repaying creditors by another year, moving it from October 31, 2026, to October 31, 2027, with court permission. The October 16 notice said many rehabilitation creditors still have not received repayments because they have not completed the required procedures, while a considerable number encountered problems during the repayment process.Kobayashi said base repayments, early lump-sum repayments and intermediate repayments have largely been completed for creditors who finished the necessary procedures without encountering problems. However, he wrote that “many rehabilitation creditors still have not received their Repayments because they have not completed the necessary procedures for receiving Repayments,” while a “considerable number” remain unpaid because of issues during the process.The trustee said the extension was intended to allow further repayments to eligible creditors. “As it is desirable to make the Repayments to such rehabilitation creditors to the extent reasonably practicable, the Rehabilitation Trustee, with the permission of the court, has changed the deadline for the Repayments from October 31, 2026 (Japan Standard Time) to October 31, 2027 (Japan Standard Time),” the notice said.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Mt. Gox deadline has now been extended four times</h2>The latest change marks the fourth consecutive one-year extension of the repayment schedule. Around 19,500 creditors had received funds by the time of the previous extension.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Repayment schedule</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Deadline</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Original deadline</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 31, 2023</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">First extension</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 31, 2024</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Second extension</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 31, 2025</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Third extension</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 31, 2026</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Current deadline</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 31, 2027</td> </tr> </tbody> </table></div>The repayment process followed Mt. Gox’s collapse in 2014, when roughly 850,000 BTC went missing. A Tokyo court approved the exchange’s civil rehabilitation plan in 2021, clearing the way for roughly $9 billion in Bitcoin and Bitcoin Cash to be returned to an estimated 24,000 creditors through registered exchanges.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Mt. Gox wallets still hold $2.88 billion in Bitcoin</h2>Arkham data showed Mt. Gox-linked wallets held 34,387.51 BTC worth $2.88 billion on September 30, 2026. The balance remains substantially below the roughly 141,686 BTC held when the trustee announced in June 2024 that distributions would begin the following July.Arkham also showed no transfers from the estate since June, when 10,422.65 BTC, then worth more than $739 million, moved from cold storage, mostly to a new wallet. That transaction did not indicate a sale or a new round of creditor repayments.The start of distributions previously produced a sharper market reaction. After the trustee said in June 2024 that repayments would begin the next month, the Bitcoin price fell as low as $61,060, a 6.5% daily decline, as traders prepared for the possibility that creditors would sell returned coins. A later deadline extension in October 2024 briefly lifted the price by keeping potential supply off the market.Markus Levin, co-founder of decentralized data network XYO, said in June that the remaining amount was “small relative to the liquidity and trading volumes in today's Bitcoin market.” He added: “At this point it's more of a recurring headline than a real source of downside pressure.”This article has been refined and enhanced by ChatGPT.

Mt Gox extends Bitcoin creditor repayment deadline to October 2027

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Mt. Gox Pushes Bitcoin Repayment Deadline to October 2027

<h2>First long-term BTC outlook tops traditional-asset assumptions but flags portfolio risks</h2>TL;DR<ul><li>J.P. Morgan Asset Management projects a 10% compounded annual Bitcoin return over the next decade.</li><li>Bitcoin remains outside the firm’s main covariance models because of 55% volatility and unstable correlations.</li><li>BlackRock’s IBIT recorded its strongest daily inflow in more than a year as institutional crypto products continued expanding.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>J.P. Morgan Asset Management has issued its first 10-year return forecast for&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a>, projecting a 10% compounded annual return while warning that 55% volatility and unstable correlations with other assets remain barriers to widespread portfolio inclusion. The forecast marks the first time JPMorgan has placed a long-term return range on Bitcoin in its research.The forecast appears in the firm’s 31st annual Long-Term Capital Market Assumptions&nbsp;<a href="https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/insights/portfolio-insights/ltcma/noindex/ltcma-2027-report.pdf">report</a>, covering its 2027 assumptions. JPMorgan’s base case for Bitcoin exceeds its projected returns for U.S. bonds, large- and small-cap equities and gold, although the range around that forecast remains wide.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Asset or scenario</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Projected annual return</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bitcoin bear case</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">-9.7%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bitcoin bull case</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">17%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">U.S. bonds</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">5.6%-6.6%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">U.S. large-cap equities</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">7.5%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">U.S. small-cap equities</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">7.7%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Gold</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">5.5%</td> </tr> </tbody> </table></div>The firm has not added Bitcoin to its main models for measuring how asset prices move together. Instead, analysts created a separate, smaller covariance model comparing&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> with a subset of other assets.<blockquote>“The volatility and unstable correlation of assets like Bitcoin (BTC) remain an obstacle to their widespread inclusion in portfolios,” the analysts wrote. “Nevertheless, we initiate a long-term return forecast for BTC this year [and] provide a separate, smaller covariance matrix with BTC against a subset of assets.”</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>JPMorgan Keeps Bitcoin Outside Its Main Portfolio Model</h2>J.P. Morgan Asset Management said its treatment of Bitcoin could change if volatility falls and correlations with other assets become more stable. Analysts also pointed to clearer regulation, stronger liquidity and improved price discovery as factors that could affect their approach.Dr. Sheena Shah and Dennis Cristallo also pointed to the expansion of infrastructure around digital assets.<blockquote>“Investors are nevertheless increasingly exploring crypto assets, supported by more defined regulation and growing infrastructure (e.g. exchange-traded funds,&nbsp;<a href="https://coin360.com/glossary/futures-contract">futures</a>, publicly traded crypto companies, options, bank-grade custody and financing markets),” they wrote.“With over 60 million coins and tokens, Bitcoin is the anchor of the crypto ecosystem, offering transactional security, longevity, improving regulatory clarity and liquidity.”</blockquote>The forecast comes alongside continued institutional flows into digital assets. JPMorgan analysts estimated earlier this month that around $50 billion had entered digital assets during 2026. The bank has also researched Bitcoin’s relationship with gold and how investor hedging activity could affect its performance relative to traditional assets.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>BlackRock Bitcoin Products Add to Institutional Activity</h2>BlackRock’s iShares Bitcoin Trust ETF, or IBIT, recorded its strongest daily inflow in more than 12 months, adding another data point to the institutional activity surrounding Bitcoin. SoSoValue showed that the fund’s previous larger daily inflow occurred on Oct. 7, 2025.<div class="raw-html-embed"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Previouslargerdailyinflow<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">899.42 million </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">CumulativenetinflowasofOct.19<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">66.23 billion </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">IBIT metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Figure</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Oct. 19 net inflow</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">665.16million</td></tr><tr></tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Net assets as of Oct. 19</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">66.37billion</td></tr><tr></tr> </tbody> </table></div>IBIT tracks Bitcoin’s spot price and provides investors with indirect BTC exposure through an exchange-traded product. BlackRock also issues the iShares Bitcoin Premium Income ETF, or BITA. Launched in June 2026, BITA gains Bitcoin exposure through holdings that include BTC and IBIT shares while selling call options to generate income.That same day, BlackRock filed with the U.S. Securities and Exchange Commission to launch the <a href="https://coin360.com/news/blackrock-bitcoin-managed-protect-etf">iShares Bitcoin Managed Protection ETF</a>, or PBIT. The proposed fund seeks to provide upside exposure through IBIT or other BTC exposure while offering a level of downside protection, with gains also subject to a cap.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Bitcoin Forecast Draws Industry Reactions</h2>Bitwise CIO Matt Hougan welcomed JPMorgan’s move into long-term Bitcoin forecasting but argued that its volatility assumption was too high, pointing to Bitcoin’s declining volatility over the past 15 years.<blockquote>“First they ignore you, then they laugh at you, then they fight at you, then they add you to their Long-Term Capital Markets Assumptions paper and predict you'll be the best-performing asset of the next decade,” Hougan wrote on X.</blockquote><figure class="image"><img src="https://cdn.coin360.com/tweet_2112387154923983105_20261021_034106_via_10015_io_6a4bb5e4b8.webp" alt="tweet_2112387154923983105_20261021_034106_via_10015_io.webp"></figure>The forecast also follows years of public skepticism toward Bitcoin from JPMorgan CEO Jamie Dimon, who described the cryptocurrency as a “fraud” in 2017 and maintained a skeptical position in later years using softer language.Strategy Chairman Michael Saylor also welcomed the report. “Wall Street is doing the math,” he said on X.This article has been refined and enhanced by ChatGPT.

JPMorgan forecasts 10% annual Bitcoin return over next decade

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JPMorgan Forecasts 10% Annual Bitcoin Returns Over Next Decade

<h2>Cloudflare Connect demo shows AI agents paying across fiat and stablecoin rails</h2>TL;DR<ul><li>Mastercard opened Agent Pay for Machines to early-access developers with buyer- and seller-side APIs, a toolkit and sandbox.</li><li>A Cloudflare Connect demo had an AI agent make nine payments across two merchants under an approved budget.</li><li>Coinbase, Base and BVNK provided wallet, onchain settlement and fiat or stablecoin payment infrastructure.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Mastercard opened early access to Agent Pay for Machines on Oct. 20, 2026, giving developers buyer- and seller-side APIs, a developer toolkit and a sandbox after end-to-end testing with multiple partners. The system is designed to let AI agents discover paid services, agree to terms and pay for them within spending limits set by humans. The project remains in the pilot stage and has not yet been made commercially available.Mastercard first announced Agent Pay for Machines in June with support for spending controls and payments using cards, bank accounts and&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a>. Developers participating in early access are being asked to test the APIs and provide feedback on additional capabilities. End-to-end pilots have involved partners including Cloudflare, Ant International, BVNK and&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a>.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>AI agent completes campaign purchases at Cloudflare Connect</h2>Mastercard’s Jorn Lambert demonstrated a live transaction at Cloudflare Connect using an AI agent working for marketing agency Hype. Hype assigned the agent to prepare a campaign for a protein-bar launch under an approved budget. The agent purchased social-media research from AIsa and obtained eight campaign images through Cloudflare AI Gateway, completing nine payments to two independent providers without requiring separate accounts or invoices.Agent Pay for Machines builds on the Coinbase-incubated x402 protocol, which takes its name from the HTTP 402 “Payment Required” status code. The protocol allows websites, APIs and AI agents to request and receive payments through&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a>-based and traditional payment rails. When a paid service requests payment, the agent generates a digitally signed payment voucher within its authorized spending limit. The provider verifies the voucher before delivering the requested service.Mastercard said the payment vouchers can be batched and redeemed later instead of requiring each transaction to settle separately. The interactions can therefore take place off-chain before providers redeem the vouchers, allowing an AI agent to purchase services as it carries out an assigned task.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Coinbase, Base and BVNK provide payment infrastructure</h2>Coinbase Developer Platform supplied the&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> infrastructure used to fund the Hype agent, while Base served as the onchain settlement network. BVNK, the&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoin</a> infrastructure company Mastercard acquired in August, supported the agent wallet and used Mastercard’s Global Money Platform to process payment and settlement in fiat or stablecoins.The setup also allows sellers to receive funds through their preferred currency, token or payment rail. The payment architecture connects an agent’s approved spending authority with the service provider’s payment request rather than requiring the agent to establish a conventional billing relationship with every provider it selects.“The web gave software a way to communicate. APIs gave software a way to use services. Now AI agents need a way to pay for them,” Mastercard said. “That’s what we’re building.”The early-access program follows Mastercard’s broader work around agent and stablecoin payments, including its&nbsp;<a href="https://coin360.com/glossary/stablecoin">Stablecoin</a> Security risk tool and the BVNK-powered Global Money Platform.This article has been refined and enhanced by ChatGPT.

Mastercard launches Agent Pay for Machines for early-access developers

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Mastercard Opens Agent Pay for Machines to Early-Access Developers

<h2>Daily dividend payments and Bitcoin expansion plans shape the upsized offering</h2>TL;DR<ul><li>Strive raised $630 million through an upsized offering of SATS perpetual preferred stock.</li><li>SATS carries a 15% annual dividend on its $100 stated value, with business-day payments planned from Nov. 9.</li><li>Strive held 36,818 BTC as of Oct. 16 as CEO Matt Cole targets the No. 2 corporate Bitcoin position.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Strive&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1920406/000095010326015849/dp255260_ex9901.htm">closed</a> an upsized initial public offering of its Series A Perpetual Preferred Stock, branded&nbsp;<a href="https://coin360.com/coin/sats-1000sats">SATS</a>, raising $630 million in gross proceeds. The&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> treasury company sold 7 million shares at $90 each, with a 15% annual dividend rate and cash payments scheduled for every business day starting Nov. 9 when declared by the board. Strive has identified Bitcoin purchases among the possible uses of the proceeds but has not set a specific&nbsp;<a href="https://coin360.com/glossary/allocation">allocation</a>.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SATS offering expands from 5 million to 7 million shares</h2>Strive initially planned to sell 5 million SATS shares before expanding the deal. The final offering carried $700 million in total stated value. A $3-per-share underwriting discount and other costs put estimated net proceeds at roughly $609 million, while BitcoinTreasuries.net calculated a more precise $608.15 million after underwriting discounts, commissions and expenses.<div class="raw-html-embed"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Statedvalue<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">100 per share </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Effectiveyieldatofferingprice<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">About16.7%</tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Grossproceeds<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">630 million </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">SATS metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Figure</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Shares sold</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">7 million</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Offering price</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">90pershare</td></tr><tr></tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Annual dividend rate</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">15%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Annual dividend</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">15pershareifpaidinfull</td></tr><tr></tr><tr></tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Dividend reserve</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">$22.50 per share, about $157.5 million</td> </tr> </tbody> </table></div>Trading on the Nasdaq Global Market was expected to begin Oct. 20 under the SATS ticker. SATS is cumulative and&nbsp;<a href="https://coin360.com/glossary/perpetual-futures">perpetual</a>, meaning unpaid dividend amounts accumulate and the shares have no maturity date. Strive established an initial dividend reserve of $157.5 million, equal to $22.50 per share and enough to cover the first 18 months of payments. The first payment, if declared in full, is expected to cover dividends accrued since the Oct. 20 closing.At the full stated rate, the newly issued SATS shares would require about $105 million in annual dividends if all payments are made. That amount excludes dividends on Strive’s other preferred securities. Chief Risk Officer Jeff Walton said Strive has no debt or maturities and described its principal obligation as “paying dividends.” Strive has also said its Bitcoin remains unpledged.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SATS sits below SATA in Strive’s capital structure</h2>SATS joins Strive’s existing SATA preferred stock, which carries a variable dividend rate of approximately 13% and is managed with the objective of trading near its $100 stated value. SATA ranks ahead of SATS for dividend and&nbsp;<a href="https://coin360.com/glossary/liquidation">liquidation</a> claims, while both preferred issues rank above Strive’s ASST common stock. SATS carries a fixed dividend rate and does not include SATA’s active price-management mechanism.Chief Investment Officer Ben Werkman characterized the distinction as SATA being designed for stable prices while SATS is designed for stable income. SATS’ effective offering yield also exceeded the rates listed for Strategy’s preferred issues in an Oct. 15 filing.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Preferred stock</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Dividend rate</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">SATS</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">15%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">STRC</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">12%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">STRF</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">10%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">STRK</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">8%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">STRD</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">10%</td> </tr> </tbody> </table></div>Barclays and Cantor served as bookrunners for the SATS sale, while Clear Street acted as lead manager. B. Riley, H.C. Wainwright, Maxim and StoneX were co-managers.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Strive targets second place among corporate Bitcoin holders</h2>Strive<a href="https://coin360.com/news/strategy-strive-bitmine-buy-crypto-treasuries">&nbsp;held</a> 36,818&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> as of Oct. 16. The company acquired 4,045 BTC between Oct. 12 and Oct. 16, lifting its holdings to approximately $3 billion at recent prices. An 8-K filing covering a narrower period showed Strive purchasing 1,223 BTC for about $100 million between Oct. 14 and Oct. 16.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Public company</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Bitcoin holdings</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Strategy</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">848,517 BTC</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Metaplanet</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">44,000 BTC</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Twenty One</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">43,514 BTC</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Strive</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">36,818 BTC</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">MARA Holdings</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">35,577 BTC</td> </tr> </tbody> </table></div>The holdings placed Strive fourth among the listed public corporate Bitcoin holders. Chairman and CEO Matt Cole has said he wants Strive to reach second place by the end of 2026. Based on the reported balances, Strive would need to acquire about 700 BTC per week to move past Metaplanet by that deadline.Cole has also outlined a strategy targeting a 60% to 70% amplification ratio while Bitcoin trades below $100,000, using preferred capital to increase the company’s Bitcoin exposure relative to common equity. The SATS financing provides another source of capital without requiring Strive to issue additional common shares.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Bitcoin purchases remain one of several uses for the proceeds</h2>Strive said proceeds may be used for general corporate purposes, including Bitcoin and Bitcoin-related purchases, working capital, income-producing assets, capital expenditures and share repurchases. The disclosed uses also include potential acquisitions and repurchases of Class A common stock or SATA preferred shares.No fixed amount has been assigned to Bitcoin purchases. Using estimated net proceeds of $608.15 million and a&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin price</a> of $82,500, the funds could buy about 7,372 BTC, which would raise Strive’s holdings to roughly 44,190 BTC. A separate calculation using the full $630 million gross amount and a Bitcoin price near $82,000 produces an estimate of around 7,700 BTC before fees.Strive ended Oct. 16 with $317.5 million in cash. Its advisory business, Strive Asset Management, is registered with the SEC and oversees more than $2.8 billion.ASST shares were trading at $26.68, compared with a 52-week high of $36.20.This article has been refined and enhanced by ChatGPT.

Strive raises $630M SATS preferred stock with 15% dividend

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Strive Raises $630M With SATS Preferred Stock Paying 15% Dividend

<h2>Fund gets diversification exemption under Swiss investment rules</h2>TL;DR<ul><li>FINMA approved Switzerland’s first retail spot Bitcoin ETF, allowing a public investment fund to hold Bitcoin directly.</li><li>The regulator waived standard diversification requirements because of Bitcoin’s longer trading history and comparatively high trading volume.</li><li>The ETF falls under Swiss fund law, with requirements covering custody, operational risks, disclosures and investor protection.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Switzerland’s Financial Market Supervisory Authority, or FINMA,&nbsp;<a href="https://www.finma.ch/news/2026/10/20261020-mm-finma-bitcoin-etf/">approved</a> the country’s first spot&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> exchange-traded fund for retail investors on Oct. 20, 2026, allowing a publicly available investment fund to invest directly in Bitcoin. The ETF falls under Swiss investment fund rules rather than the debt-security structure used by existing Swiss Bitcoin exchange-traded products.FINMA classified the ETF as one of the country’s “other funds for alternative investments” with special risk. The regulator granted an exception from ordinary diversification requirements, allowing the fund to concentrate on a single cryptocurrency. FINMA based the exemption on Bitcoin’s longer trading history and much higher trading volumes compared with most other cryptocurrencies. Other fund providers have also submitted or announced applications for Bitcoin ETFs.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Swiss ETF differs from existing Bitcoin ETPs</h2>Switzerland already has exchange-traded cryptocurrency products, but the newly approved ETF uses a different legal structure. The SIX Swiss Exchange has offered Bitcoin ETPs for years, including a Bitcoin and ether product launched in 2019. Those existing Bitcoin ETPs are structured as debt securities, while the new retail ETF is governed by Swiss fund law and holds the underlying asset through a supervised investment fund.FINMA previously authorized a cryptocurrency fund for qualified investors in 2021. That earlier fund primarily invested in a basket of digital assets and was restricted to qualified investors. The newly approved ETF instead concentrates exclusively on Bitcoin and makes a directly held Bitcoin investment fund available to retail investors.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>FINMA requires custody and investor safeguards</h2>FINMA’s January 2026 guidance requires supervised institutions to&nbsp;<a href="https://coin360.com/glossary/wallet-address">address</a> operational and custody risks linked to cryptocurrency investments. Institutions must take measures to mitigate those risks and explain them clearly in fund documentation. Switzerland’s Financial Services Act conduct rules also apply when the ETF is sold, including suitability requirements and disclosures covering volatility and potential capital losses.The approval does not reduce the underlying investment risks, according to FINMA. Bitcoin remains highly volatile, and investors could lose a significant portion of their invested capital. The regulator’s decision therefore creates a regulated retail fund structure while retaining specific risk, custody, transparency and investor-protection requirements.A FINMA spokesperson said that the regulator does not provide institution-specific information and declined to identify the approved fund or its issuer. The issuer, investment manager, ticker and launch date have not been publicly identified.This article has been refined and enhanced by ChatGPT.

FINMA clears first Swiss retail spot Bitcoin ETF investment approval

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FINMA Clears Switzerland’s First Spot Bitcoin ETF for Retail Investors

Europe’s longest MiCA transition period ended on July 1, 2026. In the United States, the CLARITY Act failed to advance in the Senate on September 15 and remains proposed legislation. European providers now face requirements under an adopted framework, while US regulators continue using powers they already hold. Those starting points shape what each new regulatory development can actually change.MiCA, the Markets in Crypto-Assets Regulation, began applying in stages before July. Its stablecoin provisions applied from June 2024, followed by its wider framework in December 2024. The<a href="https://www.agplaw.com/micas-transition-ends-on-1-july-2026-is-your-crypto-business-authorised-to-continue/">&nbsp;July 2026 deadline ended transitional permission</a> for qualifying existing providers. CLARITY, the Digital Asset Market Clarity Act, has yet to become law. The dates describe different kinds of progress, rather than consecutive steps in one shared process.The timing helps explain<a href="https://alphawire.xyz/deepdive/crypto-regulation-clarity-act-vs-mica/">&nbsp;how MiCA and the Clarity Act split on crypto rules</a> on licensing and oversight. MiCA already governs covered crypto services in the EU. CLARITY would change the US statutory framework. An EU authorization announcement concerns permission to provide services under existing rules, while progress on the US bill concerns requirements that Congress has not yet enacted.<h2>Europe’s Rules Applied Before the Transition Ended</h2>MiCA’s rollout separated the rules for certain tokens from the requirements governing service providers. The provisions for asset-referenced tokens and e-money tokens, its two categories associated with stable-value assets, applied first. The broader framework followed, covering crypto-asset service providers, market conduct, and other crypto-assets. By the time the final transition ended in 2026, these requirements had already been applying for more than a year.Existing businesses did not all have to switch permissions on the same day. EU member states could allow providers lawfully operating under earlier national arrangements to continue temporarily. The maximum period ran until July 1, 2026, or until authorization was granted or refused, whichever came first. Some countries shortened that period or did not offer the full transition. July was the final backstop, rather than a uniform starting date for every provider.That explains why an earlier national registration and a MiCA authorization belong to different stages of the rollout. The temporary arrangement let qualifying businesses continue under previous permissions while the common framework took effect. Its expiry removed that transitional basis. A pending application did not automatically extend the permission to carry on ordinary regulated activity beyond the deadline.The expiry also changed what unauthorized providers could do for existing customers. They had to stop taking on new business and limit transactions and custody to an orderly exit. Customer identity checks, transaction monitoring, and record-keeping continued during that process. Those remaining duties governed the withdrawal of services; they did not extend permission to run the ordinary business.Authorization also concerns the provider actually serving customers. MiCA authorization attaches to a particular legal entity and the services covered by its approval. One company’s authorization does not automatically cover every business sharing its brand. Authorized providers can use passporting to supply covered services across the European Union, subject to notification procedures. The common framework therefore combines shared rules with permissions that still have a defined scope.MiCA also provides a different route for certain financial institutions that are already regulated. Eligible institutions can notify the relevant authority before providing covered services, rather than follow the standard authorization application process. That distinction concerns how a business obtains permission under rules already applying. It does not postpone MiCA’s application or extend the expired transition.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>CLARITY Remains a Legislative Proposal</h2>In the US,<a href="https://www.troutman.com/insights/in-the-wake-of-clarity-acts-failure-agencies-move-forward-without-congressional-action-or-certainty/">&nbsp;Troutman Pepper Locke’s analysis of CLARITY and agency powers</a> describes the proposed division of responsibility between the Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC. The bill would establish registration requirements for digital commodity intermediaries, including exchanges, brokers, and dealers, and broaden statutory anti-money laundering coverage. Its September setback left those proposed changes unadopted.Existing CFTC authority over fully paid spot digital commodity trading covers fraud and manipulation. It does not provide a general federal registration and supervision regime for the intermediaries operating those markets. Here, spot trading means direct purchases and sales of assets paid in full. CLARITY would have supplied the CFTC with a statutory structure for registering and supervising those businesses.That gap concerns the CFTC’s powers, rather than an absence of all US regulation. Existing federal and state requirements continue to govern relevant activities, including anti-money laundering obligations for many crypto businesses. Agencies can pursue rules and exemptions within existing statutes, but cannot grant themselves new authority simply because the digital asset bill failed to advance.Agency measures also have their own status. A proposed rule sets out intended requirements; an adopted rule or exemption has effects governed by its terms. Work by the SEC or CFTC can therefore proceed while CLARITY remains stalled, but it cannot be read as implementation of the unpassed bill. Enactment, rulemaking, and a provider’s registration are separate decisions, even when they address related activity.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>The Dates Mark Different Legal Changes</h2><figure class="image"><img src="https://cdn.coin360.com/coin360_com_Visual_Image_Mi_CA_and_the_CLARITY_Act_Are_on_Different_Regulatory_Timelines_76920b7992.webp" alt="US and EU regulatory timelines"></figure>MiCA’s phased rollout shows how a framework can apply before every existing provider has completed its transition. July 1, 2026, ended the last temporary permissions under that process; it did not create MiCA or automatically authorize firms with pending applications. CLARITY’s September setback occurred earlier in the lawmaking process, before its proposed federal framework had been enacted. Europe’s implementation deadline and America’s legislative setback therefore cannot be treated as matching launch dates for new crypto rules.

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MiCA and the CLARITY Act Are on Different Regulatory Timelines

<h2>Proposed fund would pair capped upside exposure with protection against losses</h2>TL;DR<ul><li>BlackRock filed for another Bitcoin ETF designed to combine IBIT-linked upside exposure with a level of downside protection.</li><li>IBIT holds more than $65 billion in assets, while BlackRock’s digital asset ETF assets reached approximately $80 billion in Q3 2026.</li><li>The filing marks BlackRock’s third Bitcoin ETF filing as its crypto product lineup remains focused on Bitcoin and Ethereum.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>BlackRock&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1100663/000119312526425335/d144515d485apos.htm#xx_6e727824-9d2c-4f4f-959a-4adb9c9c68f4_1">filed</a> with the U.S. Securities and Exchange Commission on October 19, 2026, for another&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> fund designed to provide upside exposure linked to its flagship iShares Bitcoin Trust ETF while seeking to protect investors against some downside. The proposed product would build on IBIT and remains subject to the SEC process before it can trade.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>How BlackRock’s Proposed Protected Bitcoin ETF Would Work</h2>BlackRock said in the filing: “The Fund seeks to provide upside exposure to the iShares Bitcoin Trust ETF (IBIT) and/or similar bitcoin exposure up to an approximate limit, while seeking to provide a level of downside protection.” The proposed structure is designed to track gains linked to IBIT while limiting losses when the market moves lower. The fund would sit on top of IBIT rather than hold Bitcoin through an entirely new structure.A ticker, fee structure and launch timeline have not yet been publicly disclosed. The fund must also complete the SEC process before it can begin trading. The proposed structure would expand the ways investors can gain Bitcoin exposure through BlackRock, alongside direct exposure through IBIT and an income-focused strategy through another fund. Specific details about how the downside protection operates are also still to be disclosed.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>BlackRock Expands Its Bitcoin ETF Lineup</h2>IBIT launched in January 2024 as one of the first spot Bitcoin exchange-traded products in the U.S. The fund holds more than $65 billion in assets under management and has become the market leader in its category, with assets in the tens of billions and heavy trading volume.BlackRock added another strategy in June 2026 with the iShares Bitcoin Premium Income ETF, known as BITA. That fund aims to generate yield by selling call options on IBIT, a strategy known as covered calls, while providing Bitcoin exposure alongside monthly option premium income. BlackRock’s digital asset ETF assets reached approximately $80 billion in Q3 2026.The latest proposal marks BlackRock’s third Bitcoin ETF filing. The firm’s crypto product lineup remains focused on Bitcoin and&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> even as other issuers have introduced ETFs tracking assets including&nbsp;<a href="https://coin360.com/coin/xrp-xrp">XRP</a>,&nbsp;<a href="https://coin360.com/coin/solana-sol">SOL</a> and&nbsp;<a href="https://coin360.com/coin/dogecoin-doge">DOGE</a>.This article has been refined and enhanced by ChatGPT.

BlackRock files for Bitcoin ETF featuring downside protection mechanisms

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BlackRock Files for Bitcoin ETF With Downside Protection Linked to IBIT

<h2>Curator-Managed Strategies Draw SEC and European Scrutiny</h2>TL;DR<ul><li>Crypto lending vault deposits have risen roughly 150% as investors put more digital assets into managed DeFi strategies.</li><li>Vault curators control lending strategies and risk limits, while depositors face collateral, liquidity, liquidation and smart-contract risks.</li><li>U.S. and European regulators are examining oversight as S&amp;P Global Ratings introduces a dedicated vault risk framework.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Crypto lending vaults have&nbsp;<a href="https://www.coindesk.com/markets/2026/10/19/crypto-vault-deposits-top-usd10-billion-as-lending-risks-draw-regulatory-scrutiny">attracted</a> more than $10 billion in deposits, up from approximately $4 billion at the beginning of 2025, as investors increasingly use decentralized finance platforms to earn returns on&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> and other digital assets. The roughly 150% expansion has put greater attention on the managers controlling those strategies. The Financial Times reported the latest developments on October 19 as U.S. and European regulators examined how existing financial rules apply to the structures.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>How Crypto Lending Vaults Work</h2>Crypto lending vaults operate through&nbsp;<a href="https://coin360.com/glossary/smart-contracts">smart contracts</a> and are typically overseen by specialized managers known as curators. Curators select lending markets and strategies, establish collateral requirements, adjust risk parameters, allocate deposited funds and collect fees. Their role is similar to that of an investment manager. Investors can deposit assets such as&nbsp;<a href="https://coin360.com/coin/usd-coin-usdc">USDC</a> or&nbsp;<a href="https://coin360.com/coin/tether-usdt">USDT</a> and receive tokens representing their interests in a vault, with returns generally generated from interest paid by borrowers as well as, in some strategies, additional incentives or more complex exposures.Returns typically range from 3% to 10%, while riskier strategies can generate 20% or more. Those higher yields can come with exposure to illiquid tokens, crypto-backed stablecoins and tokenized private credit. Depositors can take losses if collateral falls in value or becomes difficult to sell. Automatic liquidations can intensify market declines, while hacks, coding errors and flawed pricing mechanisms create additional vulnerabilities. Public smart contracts provide transparency, but investors can still focus on headline yields without fully understanding the underlying exposure.Fintech companies, digital asset treasury businesses and hedge funds are among the main depositors. Established crypto companies are also integrating decentralized lending infrastructure.&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a> has expanded its onchain lending services using&nbsp;<a href="https://coin360.com/coin/morpho-morpho">Morpho</a> and separately introduced fixed-rate loans with different borrowing arrangements. Institutional participation has also extended to&nbsp;<a href="https://coin360.com/coin/flare-flr">Flare</a> and bitcoin-backed lender Two Prime.<hr><div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Participant</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Vault or Lending Activity</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Key Details</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Flare</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">FXRP integrated into an&nbsp;RLUSD lending vault operated through Morpho</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">$280 million vault connecting&nbsp;XRP-backed collateral with&nbsp;Ethereum-based credit markets</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Two Prime</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bitcoin lending vault launched on Pareto in September</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Targets 1.5% to 2% annual yields, requires a minimum 5&nbsp;WBTC deposit and has roughly $10 million of Two Prime capital committed to absorb initial losses</td> </tr> </tbody> </table></div><hr><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SEC and European Regulators Examine Vault Oversight</h2>Regulatory attention is increasingly focused on whether curators perform functions resembling traditional investment managers. SEC Commissioner Hester Peirce warned in a July statement that certain crypto activities may fall under existing securities laws regardless of the technology involved. Her comments did not establish that all lending vaults are securities products. Separately, the U.S. Securities and Exchange Commission has raised questions about vaults holding securities.European regulators have proposed oversight of intermediaries that provide access to&nbsp;<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a>. European authorities have also identified risks involving collateral chains, liquidity and cascading liquidations, particularly when protocols depend on the same assets or interconnected borrowing positions. The Elixir&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoin</a> collapse exposed financial connections involving multiple DeFi platforms, while earlier market liquidations demonstrated how falling crypto prices can force leveraged positions to close quickly.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>S&amp;P Global Adds Digital Asset Vault Risk Assessments</h2>S&amp;P Global Ratings launched a dedicated assessment framework for digital asset lending vaults on October 4. Its methodology examines six areas: portfolio credit quality, liquidity mismatch, curator risk,&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> risk, protocol risk, and vault security and governance.S&amp;P Global Ratings said the assessments are not conventional credit ratings and do not evaluate advertised yields. The framework comes as demand grows for standardized information about risks in managed DeFi structures. Institutional interest is also extending across other crypto lending markets, including the broader&nbsp;<a href="https://coin360.com/coin/sky-sky">Sky</a> ecosystem.This article has been refined and enhanced by ChatGPT.

DeFi lending vault deposits reach milestone amidst growing investor interest

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DeFi Vault Deposits Top $10B as Regulators Scrutinize Lending Risks

<h2>Weak Seed Generation Exposed Apple-Linked Wallets While Most Stolen Funds Were Immobilized</h2>TL;DR<ul><li>Qubic said an attacker exploited weak wallet seeds and drained 1,404 wallets without compromising the Qubic protocol itself.</li><li>The attacker took about 2.94 trillion QU, worth roughly $1.29 million, during a drain lasting less than two hours.</li><li>Qubic’s Computors halted the network, while 87.1% of drained funds remained on-network and MEXC froze the other 12.9%.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Qubic&nbsp;<a href="https://x.com/_Qubic_/status/2111796725677715474">said</a> an attacker drained 1,404 wallets after exploiting&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> seeds generated with insufficient randomness, prompting the network’s Computors to halt transactions. The weakness affected wallet creation rather than the Qubic protocol itself. Qubic’s Core team is mapping affected identities and preparing proposals for the Computor quorum.<figure class="image"><img alt="tweet_2111796725677715474_20261019_223130_via_10015_io_11zon.jpg" src="https://cdn.coin360.com/tweet_2111796725677715474_20261019_223130_via_10015_io_11zon_ff127fe370.jpg"></figure>The QUBIC price fell 5.2% over the previous 24 hours to $0.0000004394. The broader crypto market declined 2.8% over the same period, with the security incident disclosed on October 18 accompanying the sharper move in QUBIC.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Weak Wallet Seeds Allowed the Attack</h2>Qubic said the drain lasted less than two hours, beginning at 23:42 UTC on October 17 and ending at 01:26 UTC on October 18. The attacker took about 2.94 trillion QU, worth roughly $1.29 million at the reported price.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported Detail</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Affected wallets</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">1,404</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Drain duration</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Less than two hours</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Drain window</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">23:42 UTC on October 17 to 01:26 UTC on October 18</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Stolen amount</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 2.94 trillion QU</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Estimated value</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Roughly $1.29 million</td> </tr> </tbody> </table></div>Qubic traced the theft to insufficient randomness when affected wallet seeds were generated. Seeds created through any browser on an iPhone or iPad before October 18, 2026, were affected, as were seeds generated through Safari on a Mac before that date.Seeds created through the Qubic iOS app before July 2025 were also affected. Qubic released wallet version 4.26.4 to prevent new weak seeds from being generated. “The issue was in seed generation, not in the Qubic protocol itself,” the team said.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Network Halt Keeps Drained Funds Locked</h2>Qubic’s Computors coordinated a halt at tick 85,371,949 after the drain. The pause stopped transactions, keeping stolen funds that remained on the network locked in place.Qubic said 87.1% of the drained funds stayed on its network.&nbsp;<a href="https://coin360.com/review/mexc">MEXC</a> received the other 12.9% and froze the receiving account within roughly an hour. Exchanges also suspended QUBIC deposits and withdrawals.<figure class="image"><img alt="tweet_2111796753767026952_20261019_223256_via_10015_io_11zon.jpg" src="https://cdn.coin360.com/tweet_2111796753767026952_20261019_223256_via_10015_io_11zon_584ec796cb.jpg"></figure><div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Recovery Metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported Status</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Funds remaining on Qubic</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">87.1%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Funds received by MEXC</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">12.9%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Network halt point</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Tick 85,371,949</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">MEXC account freeze</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Within roughly one hour</td> </tr> </tbody> </table></div>“Any resolution is a decision for the Computor quorum, under the rules of the network,” Qubic said. The Core team is mapping affected identities and drafting proposals for the quorum.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Cysic Bridge Exploit Adds to October Security Incidents</h2>A separate exploit hit Cysic’s cross-chain bridge on October 17, the same day the Qubic drain began. The Cysic Foundation said an attacker minted 10 million unauthorized Cysic tokens on&nbsp;<a href="https://coin360.com/coin/binance-coin-bnb">BNB</a> Smart Chain.Early findings showed that the attacker breached a database behind the bridge’s services and then exploited flawed processing logic to forge a&nbsp;<a href="https://coin360.com/glossary/mint">mint</a> message. Cysic blacklisted the recipient&nbsp;<a href="https://coin360.com/glossary/wallet-address">address</a> within about 76 minutes, restricting roughly 2.8 million CYS still held there.The bridge remained closed, while Cysic said no existing user assets were stolen. The team had not quantified the final damage because the amount of tokens minted did not equal the final dollar loss.<div class="raw-html-embed"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Largestrecordedincident<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">3.8 million&nbsp;NEAR Intents bridge logic flaw on October 1 </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported Detail</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Unauthorized CYS minted</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">10 million tokens on BNB Smart Chain</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Address blacklisting time</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About 76 minutes</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">CYS remaining at recipient address</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Roughly 2.8 million CYS</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October exploits tracked by DefiLlama</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">11</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Disclosed October losses</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About&nbsp;6.2million</td></tr><tr></tr> </tbody> </table></div>This article has been refined and enhanced by ChatGPT.

Qubic wallet security exploit caused by weak seed generation randomness

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Qubic Wallet-Seed Exploit Drains 1,404 Wallets as Network Halts

<h2>Dollar Deposit Token Adds Another Public Network Alongside Base</h2>TL;DR<ul><li>JPMorgan deployed JPM Coin on Ethereum, making the dollar deposit token available to eligible institutional clients.</li><li>Ethereum was selected for its liquidity and existing institutional use, while Base remains part of JPM Coin’s network strategy.</li><li>The expansion adds to JPMorgan’s broader work across tokenized funds, Kinexys and other blockchain networks.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>JPMorgan deployed&nbsp;<a href="https://coin360.com/news/jpmorgan-jpm-coin-canton-network-multichain">JPM Coin</a>, its token representing U.S. dollar deposits held at the bank, on the&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>&nbsp;<a href="https://coin360.com/glossary/mainnet">mainnet</a> on Oct. 19, 2026, making it available to eligible institutional clients. The move expands JPM Coin beyond Base, the layer-2&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> built by&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a> Global, rather than replacing the network.Emma Landriault, head of Kinexys Labs at JPMorgan’s blockchain division Kinexys,&nbsp;<a href="https://www.bloomberg.com/news/articles/2026-10-19/jpmorgan-brings-deposit-token-jpm-coin-to-ethereum-for-institutional-clients">told</a> Bloomberg that JPMorgan chose Ethereum because it offers more liquidity than rival networks and is already used by institutional clients. Broadening JPM Coin’s availability is intended to serve crypto firms seeking blockchain payments and financial firms that need a digital token for trade settlement or backing tokenized assets.<blockquote>“Issuing JPM Coin first on Base and now on Ethereum is a meaningful step towards providing our institutional clients with multi-chain optionality for moving wholesale money across both the web3 and traditional finance ecosystems,” Landriault said in an emailed statement.</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Ethereum Extends JPM Coin Beyond Base</h2>JPM Coin, also identified as JPMD, first launched on Base in November 2025. Ethereum gives eligible institutional clients another network for transferring bank deposits and adds access to a separate ecosystem of tokenized assets and financial applications. JPMorgan had also flagged plans in January 2026 to move beyond Base by bringing JPM Coin to the&nbsp;<a href="https://coin360.com/coin/canton-network-cc">Canton Network</a>.Running JPM Coin across several networks does not automatically make deposits or assets freely transferable between them. Each deployment has its own technical setup, access rules and integration arrangements. JPMorgan remains the issuer of the deposit token, while access continues to be restricted to eligible institutional clients under the bank’s participation requirements.Ethereum also hosts JPMorgan tokenized money market funds MONY and JLTXX. Those products represent interests in tokenized funds, while JPM Coin represents U.S. dollar deposits at JPMorgan and is intended for payments and institutional transactions. JPMorgan has not confirmed that all subscriptions, redemptions or settlements involving its tokenized funds will use JPM Coin.Tokenization converts real-world and financial assets into digital form recorded and traded on a decentralized ledger. The cited benefits include faster settlement and quicker movement of money without some delays and frictions associated with traditional payment rails.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>JPMorgan Expands Its Broader Blockchain Operations</h2>JPMorgan’s Ethereum deployment sits alongside a wider institutional blockchain push. JPMorgan, Citi, Bank of America and Wells Fargo, together with more than a dozen other U.S. banks, have plans for a shared network for tokenized deposits.The scale of JPMorgan’s existing payments operations and related blockchain activity includes:<div class="raw-html-embed"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">HandledbyJPMorgan’sprivateblockchainnetwork</tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">JPMorganpaymentsbusiness<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">12 trillion a day </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Figure</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Context</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Kinexys transactions</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">More than&nbsp;7billionaday</td></tr><tr><td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bank-wide daily payments activity</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Ethereum-based applications</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Almost $50 billion</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Crypto assets locked, according to DeFiLlama</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Banks working with Swift</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">More than 30</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Helping define features and governance for its blockchain-based ledger</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Swift pilot participants</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">17 banks</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Banks Swift said in July were preparing to pilot live transactions</td> </tr> </tbody> </table></div>Citi and Wells Fargo were among the institutions preparing for the Swift pilot. JPMorgan was among the banks helping Swift define the blockchain ledger’s features and governance but was not included on the pilot list.This article has been refined and enhanced by ChatGPT.

JPMorgan deploys JPM Coin dollar deposit tokens on Ethereum network