Author: John Smith

A U.S. lawmaker has introduced legislation that would impose penalties of at least $10,000 on federal candidates who trade prediction market contracts tied to their own elections. Summary Rep. Don Davis has introduced a bill barring federal candidates and certain family members from trading contracts tied to their elections. Violations would carry a $10,000 civil penalty or three times the net financial gain, whichever is higher. The bill arrives after Kalshi suspended Davis’ Republican opponent, Laurie Buckhout, for trading contracts connected to her congressional race. Congress is not expected to take up the proposal before the Nov. 3 midterm elections.…

The UK government has appointed six banks to lead its first digital gilt issuance, with the pilot expected by the first quarter of 2027. Summary Six banks will handle underwriting, investor engagement and distribution for the DIGIT pilot. HSBC’s Orion platform will host the bond within the UK’s Digital Securities Sandbox. Industry executives say digital bonds need connections to cash, custody and existing settlement systems. U.S. and UK authorities are examining common approaches to tokenized securities and settlement. HM Treasury announced on Oct. 6 that Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets will serve as joint lead…

Securitize and LG CNS have signed a memorandum of understanding covering three areas of digital asset development for South Korean institutions, including tokenized securities and stablecoin infrastructure. Summary The agreement covers market development, tokenization technology, and digital asset infrastructure for financial institutions. Planned services remain subject to local laws, regulatory approvals, and both companies’ internal compliance processes. LG CNS has launched KITL with wallet, transaction processing, fee support, and record collection functions. South Korea’s tokenized securities laws are scheduled to take effect on Feb. 4, 2027. Securitize announced on Oct. 6 that the companies will explore institutional products and systems…

LayerZero’s ZRO price has climbed more than 100% from its early-September levels to around $2.23 as traders assess its rising price channel, planned ATLAS buybacks, and an Oct. 20 token unlock. TradingView’s Binance ZRO/USDT charts show LayerZero trading around $2.23… Source link

Virtuals opened an invitation only AI app test in October as established crypto networks tried to turn AI demand into paid activity. NEAR is building agent and settlement tools, Bittensor rewards competing subnets, Render supplies graphics and compute capacity, and the Artificial Superintelligence Alliance is developing agent and cloud infrastructure. Their products have different customers and links to their tokens. Summary CoinGecko put its broad artificial intelligence crypto category near $26.2 billion on October 6, but category membership is not proof of AI revenue. NEAR’s roadmap links private AI services and cross chain execution, while its token’s relation to AI…

OKX has launched OKX Money, a standalone app that converts funding from more than 50 supported currencies into dollar-backed stablecoins while offering payments, transfers and rewards in selected markets. Summary OKX Money lets users save, send and spend stablecoins through one standalone app and card. Eligible USDG balances can earn up to 10% APY without staking or required lockup periods. Users can fund accounts with over 50 currencies and hold USDG, USDC or USDT balances. OKX says card purchases carry zero foreign exchange fees and eligible spending earns cashback rewards. Initial rollout covers selected emerging markets, but OKX has not…

Chainlink released a major interoperability update as Aave’s newest lending markets passed $1 billion in deposits. Cardano is testing a scaling design, Avalanche is operating under its September upgrade, and TRON continues to carry one of crypto’s largest stablecoin balances. The five tokens enter October with different sources of activity and different questions about how that activity reaches holders. Summary Chainlink released CCIP 2.0 in late September and must demonstrate institutional transfers that generate durable network revenue. Aave Labs reported more than $1 billion in V4 deposits, while governance continues to decide how new lending markets should operate. Cardano’s Leios…

Parataxis Ethereum has canceled its planned takeover of Parataxis Korea after a delisting dispute and potential shareholder cash demands made the merger timeline difficult to predict. Summary Parataxis Ethereum canceled its planned merger with Parataxis Korea after both boards approved termination Tuesday. The companies withdrew a November 27 shareholder meeting after merger timing became difficult to predict. Parataxis Korea remains in a court fight challenging the Korea Exchange’s August delisting decision itself. The merger could have triggered large shareholder appraisal claims and pressured Parataxis Ethereum’s liquidity position. Parataxis Ethereum shares closed about 1.7% higher on October 6 despite the merger…

Virtuals Protocol has launched its Virtuals App in closed beta on iOS, giving invited users access to a personal AI that can hold a wallet, monitor markets and execute trades within limits set by the user. Summary Virtuals Protocol has launched Virtuals App in closed beta on iOS, giving invited users a personal AI with wallet and market access. Users can set tasks, spending limits and permissions for the AI, allowing it to monitor markets and automatically execute trades when specified conditions are met. Early testers are using the app to trade around social media posts, follow market conversations and…

Rain has filed an application to create a U.S. national trust bank that could custody digital assets, manage stablecoin reserves and issue dollar-backed stablecoins if the Office of the Comptroller of the Currency approves the plan. Summary Rain has applied for a national trust bank charter to custody assets and issue stablecoins. Rain National Trust Bank would not accept deposits, offer consumer accounts, or make commercial loans. The proposed bank could manage reserves for permitted stablecoin issuers under the federal GENIUS Act. Community bankers sued the OCC days earlier, challenging rules supporting crypto national trust bank charters. The OCC says…