BitcoinKE

THORChain’s RUNE token rose more than 13% climbing from a low of $0.59 to around $0.67 as the latest Binance hack renewed attention on the cross-chain protocol’s role in moving stolen cryptocurrency.
#ThorChain’s $RUNE token up following the #BinanceHack. https://t.co/1mtGkGmy7Q
— BitKE (@BitcoinKE) October 30, 2026
On-chain investigator, ZachXBT, reported that funds linked to the Binance exploit passed through THORChain before being consolidated at an Ethereum address also associated with September’s $387.5 million Bitget hack.

MILESTONE | BitGet Says Stolen Funds Nearing $400 Million as Security Breach Unfolds

Both incidents have been linked to North Korean hacking operations.

The Bitget exploit illustrated why attackers use THORChain.

REALITY CHECK | Why BitGet Hacker Used THORChain to Move Stolen Funds

Its permissionless architecture allows users to swap assets across blockchains without centralized exchange approval making it difficult for platforms to intervene once stolen funds enter its liquidity infrastructure.
The attacker used the protocol to convert stolen assets into Bitcoin while also moving approximately $83 million in stolen XRP across multiple wallets.

The XRP movements exposed another limitation in crypto recovery:
Ripple cannot freeze native XRP in attacker-controlled wallets, unlike stablecoin issuers such as Tether and Circle, which can blacklist certain addresses.

CRYPTO CRIME | Why BitGet Hacker Was Able to Move Over $80 Million in Stolen XRP

THORChain’s refusal to block addresses associated with the Bitget attacker also triggered a dispute with Bitget CEO, Gracy Chen, who argued that decentralization should not shield infrastructure facilitating the movement of identifiable stolen funds.
The protocol maintained that its architecture does not support selectively censoring individual transactions.
The controversy echoes the February 2025 Bybit hack when attackers used THORChain to launder approximately $1.4 billion in stolen assets prompting disagreements among contributors over whether the network should restrict transactions linked to criminal activity.

CRYPTO CRIME | ByBit Sues North Korea Over the $1.5 Billion Hack in 2025, Secures Asset Freeze

The latest incident has brought renewed attention to THORChain’s permissionless cross-chain model which generates transaction fees from swaps. However, while increased activity can benefit protocol economics, hack-related flows do not necessarily represent sustainable organic demand for its services.


CASE STUDY | Why Binance Hackers Turned to the Largest DeFi Lending Protocol to Move Stolen Crypto




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The attackers behind the Binance security breach used decentralised finance (DeFi) lending protocol Aave to convert stolen stablecoins into Ethereum seeking to move assets beyond the reach of centralised issuers capable of freezing them.
On-chain data shows that a wallet linked to the attackers deposited approximately $60 million in stolen USDT as collateral on Aave V3 on Ethereum and borrowed 19,762 wrapped Ether (WETH) worth about $44.6 million at the time.

MILESTONE | Binance Gets Hacked in the Largest Crypto Exploit in History

The strategy highlights a key vulnerability in crypto theft investigations:
While stablecoins such as USDT and USDC can be frozen by their issuers when linked to suspected criminal activity, Ethereum has no central issuer with the same ability to blacklist individual addresses and prevent transfers.

By using Aave, the attackers effectively used the stolen USDT as collateral to obtain an alternative asset without having to sell the stablecoins directly for ETH through a centralised exchange. The borrowed WETH could then be moved through other wallets and converted into ETH making the proceeds harder to immobilise through issuer-level freezes.

How Binance Hackers Used AAVE to Cash Out Stolen Crypto

The timing was critical.

The Aave transaction took place between 20:58 and 21:01 UTC, approximately 40 minutes before the first emergency freeze of Aave markets. This gave the attackers an opportunity to borrow against the collateral before the protocol restricted new lending activity.
Aave subsequently confirmed that the position held approximately $59.9 million in USDT collateral against $43.8 million in outstanding debt. It said the position was
over-collateralised,
remained subject to normal liquidation procedures, and
did not expose Aave suppliers to losses.


The incident prompted Aave to coordinate an emergency response with its risk service providers freezing reserves across multiple networks to prevent further deposits and borrowing. The intervention covered 175 reserves on Aave V3 across 16 networks and 117 reserves on Aave V4 across four networks.
Importantly, the incident did not involve an exploit of Aave’s smart contracts.
Instead, the attackers used the protocol’s legitimate lending functionality as an exit route demonstrating how decentralised financial infrastructure can become part of the laundering process following major exchange breaches.

The episode also exposes a difficult challenge for DeFi protocols:
Providing permissionless access to financial services while responding to criminal activity that can rapidly move through otherwise functioning lending and trading infrastructure.


DeFi | Why this Primary Risk Management Provider is Exiting the Largest DeFi Lending Protocol




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Kenyan nationals and and a Kenyan business are among those charged in the United States over an alleged cryptocurrency investment scam that used fake online relationships to steal more than $750,000 from American victims.
U.S prosecutors from the Department of Justice (DoJ) allege that the group operated scam compounds in Madagascar where workers posed as women on dating websites to build trust with victims before directing them to fraudulent non-fungible token (NFT) investment platforms. Victims were instructed to connect their cryptocurrency wallets to the websites allowing the scammers to withdraw funds without their knowledge.

#Kenyans and a #Kenyan business named in the latest #crypto crime investigations and report from @TheJusticeDept
#CryptoCrimeKE #CryptoLaunderingKE #CryptoKenya #CryptoKE
@DCI_Kenya @CMAKenya @CBKKenya @NPSOfficial_KE https://t.co/G4nPZho8k6
— BitKE (@BitcoinKE) October 30, 2026
Investigators identified about 74 cryptocurrency wallets linked to victims in several US states. The group allegedly had connections to criminal networks in China and Malaysia and moved its operations from Cambodia to Madagascar in early 2025 following law enforcement action.
The case highlights the growing international reach of cryptocurrency investment fraud, romance scams, and identity theft to steal digital assets. U.S authorities say the 6 defendants face charges linked to the alleged scheme with prosecutors seeking their extradition from Madagascar.
The charges remain allegations until proven in court.


REGULATION | ‘Proceeds of Crime Are Laundered and Concealed Within Real Estate or Cryptocurrency in Kenya,’ Says Kenyan Director of Criminal Investigations (DCI)




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Decentralized finance lending protocol, Aave, has frozen hundreds of lending markets across multiple blockchain networks following the suspected $6.3 billion Binance hot-wallet exploit, seeking to prevent the attacker from using stolen assets as collateral to borrow additional funds.
In an October 30 2026 governance forum update, Aave risk service provider, LlamaRisk, said it coordinated an emergency response with Aave Labs, TokenLogic, and Certora within 10 minutes of the first reports of the incident.

MILESTONE | Binance Gets Hacked in the Largest Crypto Exploit in History

The response resulted in 175 reserves being frozen across 16 networks on Aave V3 and another 117 reserves across four networks on Aave V4. The affected networks include Ethereum, Arbitrum, Avalanche, Base, BNB Chain, Optimism, Polygon and several others.
The freezes were executed by Aave’s guardian multisig between 21:42 and 23:04 UTC on October 29.

The Attacker Had Already Used Aave to Borrow $44.6 Million
LlamaRisk disclosed that a wallet belonging to the suspected Binance exploiter’s cluster had interacted with Aave before the emergency restrictions took effect.
Between 20:58 and 21:01 UTC, the wallet deposited $60 million in Tether’s USDT stablecoin into Aave V3’s Ethereum Core market and borrowed 19,762 Wrapped Ether (WETH), worth approximately $44.6 million at the time.
The transaction effectively converted USDT, which its issuer can freeze, into wrapped ether, which does not have the same centralized freezing mechanism.
The borrowing occurred approximately 40 minutes before Aave executed its first market freeze. LlamaRisk said no wallet associated with the attacker had interacted with the protocol since 21:01 UTC.
The position currently holds approximately $59.9 million in USDT collateral against $43.8 million in outstanding debt leaving it over-collateralized and subject to normal liquidation procedures.
Aave said the position was the attacker’s only exposure to the protocol across all networks and versions and did not pose a risk to suppliers.

DeFi | AAVE Implements AAVE Shield to Automatically Block Swaps with Over 25% Price Impact

Why AAVE Froze Markets Across Multiple Networks
Rather than restricting only the specific tokens stolen from Binance, Aave opted to freeze lending and borrowing activity across its markets.
LlamaRisk said the attacker could exchange stolen assets for any token listed on Aave and subsequently use those assets as collateral to borrow other cryptocurrencies.
Restricting only the stolen tokens would therefore have left alternative routes for the attacker to access liquidity through the lending protocol.
The team also opted for an emergency freeze because Aave’s guardian multisig can reverse the restrictions. Cutting supply and borrowing caps instead would have required a governance vote and approximately five days to restore.
The freeze prevents users, including the attacker, from opening new supply or borrowing positions. However, existing users can still withdraw assets and repay outstanding loans, while liquidations continue normally.
Users cannot add collateral to existing positions while the affected reserves remain frozen. Repaying loans is therefore the only way to improve their health factors during the restrictions.

Crypto Market Impact and Stablecoin Activity
Aave reported that its oracle feeds, which provide external asset prices used to calculate collateral values and liquidations, continued operating normally throughout the incident.
As of 00:55 UTC on October 30, Bitcoin and Ether had each fallen approximately 4% since the Binance wallet drain.

State of the market following the #BinanceHack news. https://t.co/jk3ACcgKkF
— BitKE (@BitcoinKE) October 30, 2026
Several governance tokens held by the attacker recorded larger declines, with AAVE and Chainlink’s LINK falling approximately 9%, Uniswap’s UNI dropping 8% and Arbitrum’s ARB declining 6%.
Aave said the market freezes prevented the attacker from depositing these tokens into its lending markets while existing positions backed by the assets remained healthy.
The protocol’s GHO stablecoin also experienced a slight decline from approximately $0.998 to $0.997 as holders redeemed about 4.6 million GHO for USDT through its GHO Stability Module between 21:49 and 22:07 UTC.

REGULATION | Leading Crypto Lender Says the DAO Crypto Seizure Could Destabilize DeFi Markets

Aave to Maintain Restrictions Until Binance Containment Improves
Aave said the affected markets would remain frozen until the attacker’s funds stop moving and there is greater clarity on Binance’s efforts to contain the incident.
The protocol plans to coordinate with Aave Labs and other service providers on a staged reopening of the markets once conditions allow.
LlamaRisk warned that prolonged restrictions could also affect lending market liquidity. Because frozen reserves cannot receive new deposits, large withdrawals could increase utilization rates and borrowing costs for remaining users.
The response highlights how a security breach involving a centralized exchange can extend into decentralized finance where stolen assets may be converted into collateral used to access liquidity or moved across multiple protocols.
Aave said it would continue tracking the attacker’s wallets across Ethereum, Arbitrum, Optimism, and Avalanche while monitoring price feeds and potential liquidation risks.


DeFi | Why this Primary Risk Management Provider is Exiting the Largest DeFi Lending Protocol




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Sub-Saharan Africa’s cryptocurrency economy grew 13.4% year-on-year to $101 billion between July 2025 and June 2026 making it the world’s fastest-growing crypto region despite remaining the smallest by transaction value, according to blockchain analytics firm, Chainalysis.
South Africa and Nigeria accounted for more than three-quarters of regional activity although their markets followed different trajectories.
South Africa’s crypto economy expanded 52% to $39.3 billion, while
Nigeria recorded $38.1 billion, down 3% from the previous year.
South Africa’s growth was driven largely by cross-border peer-to-peer stablecoin flows and cryptocurrency service activity. Nigeria, meanwhile, saw growth in centralized exchange activity offset by declines in decentralized exchange transactions and cross-border P2P transfers.


Stablecoins Emerge as a Major Growth Driver
Stablecoin activity through P2P channels increased over 6x between 2022 and 2026 rising from $2.3 billion to $14.6 billion. Over the same period, Bitcoin value received through these channels fell 60% to $14.6 billion.
Stablecoin remittance value more than doubled year-on-year to $492 million while cross-border stablecoin transfer volumes increased nearly 5x highlighting growing demand for cheaper international payments and access to dollar-denominated value.
The report also found that active intra-African crypto payment corridors nearly doubled from 80 to 152 while transaction volumes more than tripled to $116.5 million.


Other key findings:
Personal wallets: Accounted for 32.3% of crypto value received across the region, the highest share globally. Cross-border P2P transfers represented 70.9% of this activity.
Ghana: Crypto activity grew 80% to $5.1 billion.
Senegal: Recorded the region’s fastest growth among the highlighted smaller markets, with activity surging 215% to $2.3 billion.
Ethiopia: Crypto activity declined 8% to $3.7 billion.
South African businesses: Recorded $8.34 billion in business-like crypto transactions during the reporting period.
Nigeria’s domestic exchanges: Received $6.22 billion, accounting for half of the country’s centralized exchange inflows, up from 27% in 2025 and 7% in 2022.
Crypto remittances: Western countries sent $888 million into Sub-Saharan Africa, up 36% year-on-year. North America accounted for $645 million.

Chainalysis said the region’s next phase of growth will depend on
regulatory clarity,
greater integration with existing financial infrastructure, and
the ability of crypto payment channels to deliver practical benefits for consumers and businesses.


SURVEY | South Africa Leads Africa in Merchant Crypto Payment Adoption in 2025, Becomes 6th Globally




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Binance, the world’s largest cryptocurrency exchange, is investigating a potential security breach after on-chain data showed billions of dollars in digital assets moving from wallets linked to the platform to newly created external addresses.
Reports put the figure at over $5.7 billion making it the largest ever crypto attack in history.
According to blockchain intelligence firm, Arkham, the hackers held over $5.7 billion stolen from Binance including:
$1.5 billion in bitcoin
$900 million in ETH
~$1.5 billion in USDT
Over $800 million in USDC
The exchange has not confirmed the amount stolen or established the cause of the incident.
The incident rattled cryptocurrency markets with Bitcoin falling about 2% in the immediate aftermath, Ether declining 3% and Binance’s BNB token dropping around 8% in an hour, according to market data.

State of the market following the #BinanceHack news. https://t.co/jk3ACcgKkF
— BitKE (@BitcoinKE) October 30, 2026
Binance said it was investigating reports of a potential security issue and assured customers that their funds remained safe. Co-founder, Changpeng Zhao, said the incident appeared to be a hack, while co-founder, Yi He, said the company would cover any losses.



The exchange temporarily suspended withdrawals while conducting security checks.

Stablecoin issuers Tether and Circle also moved to freeze assets linked to the incident with Binance reporting that approximately $3 billion in cryptocurrency had been frozen as it worked with law enforcement and blockchain analytics firms to trace additional funds.
If confirmed, the breach could surpass the $1.5 billion Bybit hack in February 2025 to become the largest cryptocurrency exchange hack on record.


DeFi | Solana DEX Hit by the Largest DeFi Exploit of 2026 So Far




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DoorDash has agreed to acquire grocery-delivery rival Instacart in a deal valued at about $17 billion, combining two major delivery platforms as competition intensifies across food, grocery and retail.
The deal will expand the range of products available to consumers through DoorDash’s delivery network, while giving Instacart access to more merchants and delivery infrastructure. Instacart shoppers will be able to buy from about 150,000 stores, up from roughly 100,000, the companies said.
The acquisition also strengthens DoorDash’s position beyond restaurant delivery as platforms seek to capture more everyday consumer spending and improve the economics of their operations.

The Stablecoin Angle
The deal comes as DoorDash explores stablecoin-based payment infrastructure through Tempo, a blockchain network incubated by payments company, Stripe, and investment firm, Paradigm.
The initiative is intended to help the platform pay merchants and delivery workers faster and at lower cost across multiple markets.

CASE STUDY | Stablecoin Use By This Global Food Delivery Service Reveals Where Mainstream Adoption is Coming From

Stablecoins could allow platforms operating across borders to settle payments around the clock reducing reliance on fragmented banking systems, intermediary fees, and foreign-exchange costs.
As DoorDash expands its grocery and retail operations through Instacart, the potential application extends beyond delivering orders. A larger marketplace means more payments between the platform, retailers, delivery workers, and other partners, creating opportunities to streamline cross-border settlement and merchant payouts.
The model reflects a broader shift toward using stablecoins as payment infrastructure rather than solely as cryptocurrency trading assets. Its commercial value will depend on whether faster settlement and lower transaction costs outweigh the expenses of conversion, compliance, and integration with local banking systems.



INSTITUTIONAL | Why This Japanese Financial Giant Became a Strategic Investor in an Asian Stablecoin Payments Firm




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Utah has filed 14 criminal charges against prediction market operator Kalshi and its co-founders, escalating a legal battle that now exposes the company to both criminal prosecution and civil penalties over its sports and event contracts.
The charges include
one felony count alleging a pattern of unlawful activity,
12 felony counts of promoting online gambling, and
one misdemeanor count.
Prosecutors allege Kalshi continued accepting wagers from Utah residents despite a federal court ruling allowing the state to enforce its gambling laws.
The case relies on evidence gathered by an undercover agent from the Utah Attorney General’s Office who used
a local address,
phone number, and
debit card
to access the platform in September 2026.
Kalshi reportedly allowed the agent to place 12 separate sports wagers. The state argues that these transactions demonstrate the platform is actively promoting illegal gambling within Utah’s borders.

REGULATION | ‘Gambling by Another Name is Still Gambling,’ Says New York as It Sues Coinbase, Gemini Over Prediction Markets Offerings

The criminal case follows a separate civil lawsuit in which Utah is seeking to stop Kalshi from offering contracts on sports, elections, politics, and other events, and recover profits allegedly earned in the state.

The state has estimated those profits at $30 million to $60 million.

REGULATION | New York Sues Polymarket Over Alleged ‘Illegal Gambling Operation’

The dual legal actions raise the stakes for prediction market operators where civil lawsuits can seek
injunctions,
restitution, and
financial penalties,
while criminal prosecutions can expose companies and executives to fines and, depending on the charges, potential imprisonment.

The dispute also highlights the risk of defying court rulings while regulatory authority remains contested.

Kalshi maintains that its event contracts are federally regulated financial derivatives under the Commodity Futures Trading Commission (CFTC) rather than gambling products subject to state laws.

REGULATION | CFTC Invokes Emergency Powers Ordering Kalshi to Continue Operating amid New York Lawsuit

The CFTC has separately sued Utah arguing that federal law gives it exclusive authority over the relevant markets. Kalshi has called the criminal charges an over-reach and said it will challenge them in court.
The legal fight extends beyond Utah with states including Arizona, Nevada, Massachusetts and others pursuing restrictions or litigation against prediction market operators. The outcome could determine whether platforms such as Kalshi and crypto-based rival, Polymarket, face a patchwork of state gambling laws or operate primarily under federal oversight.


REGULATION | Kalshi Looses Appeal as U.S Court Backs State Regulation of Sports Gambling Contracts




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Thailand’s Supreme Court has ruled that Bitcoin qualifies as property under criminal law rejecting a defence argument that the cryptocurrency could not be stolen because it exists as electronic data and is not legal tender.
The decision upheld a 10-year prison sentence in a case involving a victim who was threatened and assaulted before being forced to transfer 2.480801 BTC, worth about $50,000 at the time, to a wallet controlled by an attacker on Koh Samui in September 2022.
Thailand’s Supreme Court has ruled that Bitcoin can qualify as property under criminal law, finding that converting money into cryptocurrency does not strip it of its economic value or legal protection.

REGULATION | Religious Ruling Crashes with Pakistan’s Virtual Assets Act as Crypto Ambitions Meet Islamic Finance Principles

The court’s plenary bench said Bitcoin
has a market price,
can be exchanged for cash when a buyer is available, and
can be owned by members of the public
making it eligible for protection under property-related criminal laws.

“The value of the money transferred as property therefore fulfills the elements of an offense against property,” the court said in a translated summary.

The judges cited Thailand’s 2018 digital asset business decree, which defines cryptocurrency as electronic data created on a network for use as a medium of exchange.
The court also considered a Bank of Thailand letter stating that cryptocurrency is not legal tender, but found that this status did not prevent Bitcoin from qualifying as property in the criminal case.
It ordered the return of the stolen Bitcoin or compensation of 1.878 million Baht.
The ruling does not make Bitcoin legal tender or require businesses to accept it as payment. Instead, it distinguishes between cryptocurrency as a legally protectable asset and money recognised for settling debts.
The decision could strengthen the legal basis for prosecuting crypto theft and seeking restitution in Thailand where criminals have increasingly targeted digital asset holders.


REALITY CHECK | Leading Islamic Scholar Declares Cryptocurrency Purchases Haram Under Islamic Law




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Bitcoin Core developers have disclosed three software vulnerabilities identified through an artificial intelligence scan including a flaw that allowed attackers to remotely crash Bitcoin nodes running on
Windows,
macOS, and
BSD systems.
The vulnerability enabled a malicious peer to overwhelm a node with data causing memory exhaustion and a crash. Linux systems were not affected. Developers released fixes across supported Bitcoin Core versions on October 27 and 28 2026, before publicly disclosing the flaw on October 28 2026.
The findings mark the first disclosures under Bitcoin Core’s revised security policy which calls for faster publication of vulnerabilities that AI tools can easily discover rather than keeping them confidential for months while users upgrade.

REALITY CHECK | Bitcoin Core Changes Vulnerability Disclosure Policy as AI Threats Grow

The automated scan used a large language model to examine Bitcoin Core’s code with human contributors verifying the findings before they were submitted to the project’s security team. Two other vulnerabilities were also disclosed, involving
memory growth and
potential failures during blockchain reorganizations.
The episode highlights how AI is changing security across the crypto ecosystem making it easier to identify software weaknesses while reducing the time developers have to patch them before malicious actors discover and exploit the same flaws.
Bitcoin Core developers said three additional medium- and high-severity vulnerabilities fixed in version 30.0 are expected to be disclosed in November 2026.


REPORT | AI is 2x More Effective at Exploitation Than Detection in Crypto, Says Binance Research




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Singapore police said at least two cases involving tampered Ledger hardware wallets have resulted in losses of about S$3.5 million ($2.7 million) since September 10.
Preliminary investigations found that some Ledger devices purchased from local retail stores contained malicious hardware components capable of capturing users’ private keys or recovery phrases, potentially allowing attackers to access wallets and transfer cryptocurrency without authorization.
The disclosure adds to a widening investigation into suspected supply-chain compromises involving Ledger devices sold through 3rd-party retailers across Southeast Asia.
Ledger has asked resellers in
Singapore,
Malaysia,
Indonesia,
Thailand,
the Philippines,
Vietnam and
Hong Kong
to suspend sales while investigations continue.

REALITY CHECK | Europe’s Largest Consumer Electronics Retailer Removes Ledger Wallets Internationally

The company has said it has no indication that its own systems, services, or direct sales channels were compromised. Singapore police said they are working with Ledger as investigations continue.
The incident highlights a security risk beyond conventional crypto hacks where hardware wallets can be compromised before reaching users, undermining the protection offered by keeping private keys offline.
Singapore police urged users with suspected tampered devices to stop using them, avoid entering recovery phrases, and contact wallet providers through official support channels.


CRYPTO CRIME | Ledger Confirms Hardware Wallet Implant with Reported Crypto Losses Exceeding Over $80 Million




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Google Cloud is developing a digital asset custody service that uses multi-party computation (MPC) to help banks and financial institutions secure Bitcoin and other crypto assets without relying on a single private key.

The service, called Google Multi-Party Compute, distributes cryptographic key shares across separate environments allowing multiple parties to jointly authorize transactions without reconstructing the complete private key in one location.
The system also allows institutions to
establish transaction limits,
restrict destination addresses, and
set approval thresholds before transfers are signed.
Google says the design aims to reduce the risk of stolen credentials or compromised systems leading to unauthorized asset transfers.


The service is currently in private preview with commercial availability targeted for early 2027. Google’s parent company, Alphabet, has begun using it to secure digital assets on Ethereum and Solana while financial institutions are testing the technology.
The move puts Google in competition with specialist crypto security providers such as Fireblocks, BitGo, and Fordefi as banks expand into digital asset custody and tokenized financial products.
The launch comes as private-key compromises remain a major source of crypto theft highlighting the growing importance of institutional-grade security infrastructure as traditional finance adopts blockchain technology.


CASE STUDY | Company Loses Access to Bitcoin Holdings Held By a 3rd Party Plunging Shares by 50%




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Datavault AI shares fell 49.55% to $0.067 after the Nasdaq-listed company disclosed it has been unable to withdraw Bitcoin held at crypto exchange, Biconomy, since June 2026.


The company also plans to restate 4 financial reports after determining that Bitcoin received under a $150 million share deal with Scilex Holding should have been recorded as a receivable rather than a corporate digital asset.
The accounting corrections are expected to reduce reported assets by $92.2 million at the end of 2025 and $49 million as of June 2026. Management is re-assessing the company’s ability to continue operating as collection of the amounts owed by Scilex remains uncertain.
The disclosure highlights the risks of corporate Bitcoin treasuries relying on third-party exchanges for custody and access to assets, particularly when those holdings are counted on to fund business operations.


INSTITUTIONAL | Standard Chartered Moves to Consolidate Institutional Crypto Custody Business With Zodia Acquisition




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The Depository Trust & Clearing Corporation (DTCC), a central pillar of U.S. securities markets, has launched a tokenisation service covering 34 securities worth about $30 trillion marking a major step in bringing traditional financial assets on-chain.
The service initially supports selected Russell 1000 stocks, exchange-traded funds and U.S. Treasury securities through the Canton Network and DTCC’s private Besu blockchain. Twenty financial institutions, including
JPMorgan,
Citi,
Bank of America,
Morgan Stanley, and
UBS,
have signed agreements to access the platform.
The architecture allows eligible institutions to move between conventional securities infrastructure and blockchain environments without surrendering the protections associated with their existing holdings.

INSTITUTIONAL | JPMorgan, Coca-Cola, Adobe, AMD, Dell Join Pushback Against OKX-ICE Tokenized Stock Plan

“Today marks the culmination of years of work to bring tokenized securities into a regulated framework supported by trusted market infrastructure,” explained Frank La Salla, DTCC’s president and CEO.

The service allows eligible institutions to convert securities held in DTCC’s custody system into on-chain tokens that retain the underlying assets’ ownership rights and investor protections. Once tokenized, the assets can move between registered wallets around the clock potentially improving collateral mobility and reducing settlement delays.
DTCC plans to add support for Stellar and Circle’s Arc blockchain in 2027 alongside tools for settling transactions with digital cash and using tokenized securities as collateral.
The launch moves tokenization beyond isolated industry experiments and into established U.S. market infrastructure where DTCC’s subsidiary holds more than $114 trillion in securities. The service follows a December 2025 no-action letter from the U.S. Securities and Exchange Commission authorizing the tokenization of specified securities.


INSTITUTIONAL | World’s Largest Clearing, Settlement Organization by Transaction Value to Connect Tokenized Securities to Stellar




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7 more firms, which includes:
JPMorgan Chase,
Coca-Cola,
Adobe,
Dell Technologies,
and 4 other companies have objected to plans by crypto exchange, OKX, and New York Stock Exchange (NYSE) parent Intercontinental Exchange (ICE) to trade tokenized versions of their shares bringing the total number of objectors to 33.
The latest objections bring resistance to nearly half of the 62 companies initially targeted by the joint venture, OKXICE. Other new objectors include:
Advanced Micro Devices,
Applied Materials, and
SanDisk
according to a notice dated October 27 2026.

INSTITUTIONAL | Intel, IBM, Oracle, Cisco, LonQ join Opposition to OKX-ICE Tokenised Stock Platform

The proposed platform would allow tokenized stocks to trade around the clock through on-chain liquidity pools with transactions settled in stablecoins. The initiative operates under a 5-year U.S. Securities and Exchange Commission innovation exemption which allows qualifying platforms to test tokenized securities trading under a modified regulatory framework.
The growing opposition highlights a key obstacle to the expansion of tokenized equities – platforms can build on-chain trading infrastructure, but companies can still block 3rd-party venues from listing tokenized versions of their shares under the exemption.
Most objectors have not publicly explained their decisions, and OKXICE has yet to announce a launch date.


INSTITUTIONAL | Why Major U.S-Listed Companies are Opposing New York Stock Exchange Tokenization Plans




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Itaú Unibanco, Brazil’s largest private bank, has notified the central bank of its cryptocurrency trading and custody operations becoming the first bank to formalize its crypto brokerage under the country’s new regulatory framework, according to local Brazilian media.

The move comes ahead of an October 30 2026 deadline for existing crypto businesses to comply with the rules. Under the framework, banks already authorized by the central bank can notify the regulator of their crypto services while dedicated virtual-asset service providers must apply for operating authorization.
Itaú has offered crypto trading since December 2023 with 15 digital assets available:
Bitcoin (BTC)
Ether (ETH)
Solana (SOL)
XRP
USDC
Chainlink (LINK)
Litecoin (LTC)
Aave (AAVE)
Avalanche (AVAX)
Polygon (POL)
Bitcoin Cash (BCH)
Uniswap (UNI)
Optimism (OP)
Arbitrum (ARB)
Pax Gold (PAXG)
The central bank’s Resolution 520, which took effect in February 2026, requires eligible institutions to submit independent technical certification demonstrating compliance. Firms that miss the deadline must stop providing crypto services within 30 days.
Banks and other authorized institutions are barred from doing crypto business with unauthorized providers after November 6 2026.


REGULATION | Brazil Prohibits Use of Crypto in Regulated Cross-Border FX Payment Settlements




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Crypto’s security risks are increasingly extending beyond blockchain protocols to employees, third-party systems and service providers.

South Korean exchange, Bithumb, is the latest example after an attacker breached an internal employee mobile system and stole personal information. No cryptocurrency funds were reported lost and the exchange said the compromised system was separate from its trading platform.

The incident highlights a growing weakness across the crypto ecosystem where compromised vendors, external integrations, and employee access can expose firms to attacks even when core trading or blockchain infrastructure remains secure.

CRYPTO CRIME | NEAR Intents Loses ~$4 Million in Exploit as Crypto Hacks Continue

The $1.4 billion Bybit hack in February 2025, attributed to a supply-chain and social-engineering campaign, underscored how attackers can exploit trusted systems and relationships to reach crypto assets.
In September 2026, crypto exchange, Bitget, suffered unauthorized transfers totaling approximately $387.5 million from its hot-wallet infrastructure. Preliminary findings from cybersecurity firms Mandiant and SlowMist linked the attack to compromised third-party security appliances.

Coinbase has also disclosed a third-party-related incident after analytics provider Amplitude experienced a breach that exposed contact information belonging to a small subset of Coinbase customers.
Taken together, these incidents point to a common risk – securing smart contracts and protecting private keys remain essential, but neither guarantees safety if the systems, suppliers or people connected to those assets can be compromised.
Risk of 3rd-Party DeFi Services Grows as Over 8K Solana Wallets are Hacked and Drained of $8 Million
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U.S. Treasury Secretary, Scott Bessent, said global economic power is increasingly shifting from military strength to technological leadership, arguing that U.S. dominance in digital assets could help preserve the dollar’s position as the world’s leading reserve currency.

“We will keep our military umbrella, but I think more and more it’s becoming a technology umbrella,” Bessent said at Ripple’s Swell conference drawing parallels between the U.S.-China competition in artificial intelligence and semi-conductors and the race to control digital financial infrastructure.
“I think that digital assets are going to be no different, and we are going to win in the digital asset stack, and that’s gonna continue to fortify the [U.S.] dollar,” he said.

Bessent said U.S. leadership in digital assets would further strengthen the dollar’s global reach while dollar-backed stablecoins could expand access to the currency and increase demand for U.S. Treasuries.
More than 90% of stablecoins are backed by the dollar, he said.


REALITY CHECK | Dollar Stablecoins Benefit from America’s Sheer Economic and Geopolitical Weight, Says Bank of England Policymaker




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Zcash co-founder, Sean Bowe, has proposed ending automatic funding for the Zcash Community Grants (ZCG) program arguing its $125 million treasury is already large enough to support developers for years.
Under the draft proposal, ZCG’s 8% share of newly issued ZEC would instead go to the Network Sustainability Mechanism, a reserve designed to support future mining rewards.
The concern is that automatic funding continues regardless of spending needs. ZCG receives about 144 ZEC daily, potentially worth more than $68 million annually, while retaining its existing funds and continuing to award grants.
The proposal would not affect a separate 12% allocation controlled through coinholder voting. It remains a draft and would require a future network upgrade to take effect.


REPORT | ~90% of 2025 Web3 Funding in Nigeria was Grant-Based




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Ripple and Robinhood Markets are expanding their partnership to integrate Ripple’s dollar-backed RLUSD stablecoin across retail and institutional services, including
payments,
treasury management, and
trading.
RLUSD is already available on Robinhood Chain and Bitstamp with an integration into the Robinhood app planned for later in 2026. Robinhood also plans to use the stablecoin for institutional settlement on the XRP Ledger and adopt Ripple Treasury to manage cash, liquidity, and payments.

REALITY CHECK | Robinhood’s Potential Single-Stock Perps Launch Draws Over 90% User Interest, Reveals Mizuho Survey

The partnership also covers institutional financing through Ripple Prime with perpetual futures trading on Bitstamp planned for in later in 2026.
RLUSD has a market capitalization of about $2.57 billion as of this writing.
The expansion comes as stablecoin issuers seek to extend their products beyond crypto trading into payments and institutional financial infrastructure.


Ripple Expands RLUSD Infrastructure Despite 25% Drop in Stablecoin Transfer Volume





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