bloomingbit

Oil prices are falling as hopes rise for a breakthrough in talks between the US and Iran. Bitcoin (BTC) held the $80,000 level.
CoinDesk reported on October 26 that Brent crude had fallen more than 6% from the previous session and was trading below $110 a barrel.
Expectations that tensions between the US and Iran could ease appeared to pressure oil prices.
The Financial Times reported that Iran is holding talks with officials from Saudi Arabia, Pakistan and Turkey. Qatari officials had also visited Iran earlier, the report said.
As of 8:10 p.m., Bitcoin was trading at $80,173, down 0.08% from a day earlier, according to CoinMarketCap.

With eight days left until the US midterm elections, attention is also turning to how the result could affect the digital-asset market.
According to BeInCrypto on October 26, Polymarket bettors put the odds of Democrats winning a House majority at 93% and a Senate majority at 65%.
If Democrats ultimately control both chambers, that could weigh on Bitcoin (BTC), the report said.
One factor is the dollar's strength. Glassnode, a digital-asset analytics firm, said Bitcoin's inverse correlation with the dollar has recently reached its strongest level on record. If Democrats rein in the Trump administration's large fiscal spending and ease concerns over the budget deficit, the dollar could strengthen, adding downward pressure on Bitcoin.
Uncertainty over digital-asset regulation is also a major variable. Much of the current US regulatory framework for digital assets depends on policy from the Securities and Exchange Commission and the Commodity Futures Trading Commission. BeInCrypto said that if Democrats control Congress and put the brakes on the Trump administration's legislative agenda, policy could shift further toward executive orders and regulator-led oversight. In that case, existing rules could be revised if the administration changes in the future.
At the same time, Democratic control of Congress could support Bitcoin if it helps ease geopolitical tensions in the Middle East, according to the report. If Democrats limit funding for military operations related to Iran, global oil prices could fall and inflation pressures could ease. That, in turn, could reduce pressure for US rate hikes, weaken the dollar and lift Bitcoin prices.

Evernox, a company that holds XRP in reserve, is seeking additional funding.
According to the U.S. Securities and Exchange Commission on Oct. 26, Evernox on Oct. 23 filed an S-1 registration statement covering up to 5,218,935 common shares.
The filing was made under a stock purchase agreement Evernox signed with investment firm CF Principal Investments.
Based on its closing price of $15.46 a share on Oct. 22, the company said it could raise as much as about $80.7 million.
Evernox plans to use the proceeds for additional XRP purchases, XRP ecosystem-related businesses and general corporate purposes, including working capital.

The US military has completed preparations for a large-scale operation against Iran that could begin within 96 hours if President Donald Trump gives the order, CNN reported.
CNN, citing two US government officials on October 26, said enough forces are already in place in the Middle East to carry out additional strikes. If Trump authorizes the operation, it could begin within 96 hours.
The military action under review would be broader than earlier limited strikes. US Central Command and the Pentagon are considering a wide target list that includes Iranian energy facilities, military bases and nuclear sites. One official described it as a large-scale operation.
A window after the US midterm elections in November is being discussed as the most likely timing for an attack. Trump has not made a final decision, but some current and former US officials think the chances are high that military operations could resume before year-end. Still, he could reverse course at the final stage.
Israel is also pursuing additional strikes on Iran, the report said. Prime Minister Benjamin Netanyahu requested a joint attack before the midterm elections, but the US asked that any operation be delayed until preparations were complete.
US intelligence agencies assess that Iran and Yemen's Houthi rebels could retaliate immediately against US troops and diplomatic facilities in the Middle East if they are attacked by the US or Israel. In response, Washington is moving to reduce staffing at diplomatic missions across the region, including in Saudi Arabia.
Tensions around the Strait of Hormuz are also continuing. The US military is maintaining a maritime blockade of Iranian ports, and General Brad Cooper, commander of US Central Command, visited the Strait of Hormuz on October 25 to review operations. International oil prices have remained elevated on concerns over possible Iranian retaliation, even as tanker traffic has increased.
The White House declined to comment on the report. The Pentagon said military operational planning is a routine mission, leaving uncertainty over whether an actual strike will take place and when.

The Japanese yen is emerging as an effective haven against financial-market shocks tied to the boom in artificial intelligence investment.
Bloomberg reported on October 25 that Goldman Sachs wrote in an October 23 note that, while the global economic backdrop still points to yen weakness, the currency has become a more attractive way than in recent years to protect portfolios tilted toward cyclical assets.
The yen strengthened during last week's global selloff in technology shares. It rose 0.9% against the dollar on October 22 and climbed to its highest level in more than a month on October 23. Demand for haven assets increased as worries over expanding AI investment weighed on stocks and sent US Treasury yields sharply lower.
Goldman Sachs said the AI investment boom has made US stocks and the dollar more sensitive to the risk of slower growth. The bank added that the yen is especially likely to strengthen when stock prices and bond yields fall at the same time.
It also cited changes in Japan's monetary-policy backdrop as a factor strengthening the yen's defensive appeal. The bank said the currency's declines during recent rises in global bond yields have been smaller than they were over the past six to seven years. That contrasts with 2022, when the Bank of Japan kept its yield-curve control policy in place.
Goldman Sachs said an improved policy backdrop in Japan, the yen's relatively undervalued level and the possibility of foreign-exchange intervention are limiting the risk of further declines in the currency. As a result, investors have more reason than in the past to absorb the cost of rate differentials when holding the yen.
In the short term, the bank said it prefers reducing long euro positions to selling the yen against the euro. It sees little chance that the Bank of Japan will signal tighter policy more aggressively than expected at its monetary-policy decision on October 30, and domestic drivers for a clear yen rally remain limited.
Over the medium to long term, however, Goldman Sachs said betting on yen strength against the dollar would be more effective. "To hedge against broader growth concerns or a widespread AI-driven shock, the most effective strategy would be to position for a decline in the dollar-yen exchange rate," the bank said.

Park Soo-young, deputy policy chief of the ruling People Power Party, urged the government to further delay the implementation of virtual-asset taxation and first put in place the related制度 and computer infrastructure.
In a Facebook post on October 26 titled "Announce Confirmation of a Delay in Virtual-Asset Taxation," Park called on the government to quickly finalize its plan to postpone the tax. He stressed that virtual-asset investors are not refusing to pay taxes themselves, but are demanding a fair tax environment.
Park took issue with the continued lack of adequate computer systems needed for taxation. Citing findings from his office, he said the country's five largest virtual-asset exchanges and the National Tax Service exchanged 49 official documents but still failed to complete the relevant systems. He also argued that detailed standards, including which assets would be taxed and how tax amounts would be calculated, have not been sufficiently prepared.
He also warned that difficulty in tracking overseas transactions could undermine tax fairness. Park said the US is set to participate in the Crypto-Asset Reporting Framework, or CARF, from 2029, while China has not even set a participation timetable. That, he added, could leave users of domestic exchanges bearing a disproportionate tax burden.
Park also cited a shrinking virtual-asset market as another reason for a tax delay. Funds flowing into domestic exchanges have dropped to about half their previous level, he wrote, arguing that the investment environment is deteriorating.
He also referred to the presidential office's recent move to review a tax delay. According to Park, discussions advanced four days after he raised concerns over inadequate tax preparations at a National Assembly standing committee and during a parliamentary audit, and held a joint press conference with youth groups.
Park said the government should swiftly decide whether to grant an additional delay while also ensuring the effectiveness and fairness of the tax system. In particular, he urged authorities to complete sufficient institutional preparations first so as not to restrict young people's opportunities to build assets.

The odds of a Federal Reserve rate increase in October have fallen, strengthening market expectations that policymakers will hold rates steady.
Bloomberg reported on October 25 that the probability of an October rate hike implied by interest-rate swaps had dropped below 15%. The move reflects fading expectations for additional tightening as artificial-intelligence shares have slumped and concerns about slowing US economic growth have grown.
The Fed raised its benchmark rate in September for the first time in about three years. Persistent inflation pressures had prompted speculation about additional increases in October and December, but that view began to shift after senior Fed officials repeatedly struck a cautious tone.
John Williams, president of the Federal Reserve Bank of New York, said on September 29 that one additional rate increase this year could be appropriate. Fed Vice Chair Philip Jefferson and Governor Christopher Waller then indicated there was no need to rush further hikes. As a result, the implied probability of an October increase fell from as high as 70% to around 25%.
The US consumer price index released on October 14 posted its fastest increase in five months, triggering market volatility. The perceived odds of a rate hike surged from about 20% to around 50% immediately after the data, but investors later gave back most of that increase as they focused on signals that the Fed would pause.
Fed Chair Kevin Warsh said at the International Monetary Fund's annual meeting on October 16 that he would not prejudge future rate decisions. Still, markets took note that Warsh did not forcefully reject expectations for an October pause even after the inflation data.
Experts said there is a disconnect between economic data and the Fed's policy signals. Ed Al-Hussainy, a portfolio manager at Columbia Threadneedle, said the economic data support a rate increase and that Fed commentary is the only factor separating a hike from a pause.
Neil Dutta, head of economics at Renaissance Macro Research, said there was also a gap between Warsh's message and those of other Fed officials, raising the risk of greater market volatility around each policy meeting. Jamie Patton, co-head of global rates at TCW Group, said markets need to know the rules, but do not right now.

South Korea’s Blue House said it is reviewing whether to further delay the introduction of taxes on virtual assets, but no decision has been made.
Yonhap News TV reported on October 25 that the presidential office was responding to media reports that another delay to crypto taxation was increasingly likely. The Blue House said the matter is under review and that nothing has been decided.
The office is considering several options, including pushing back the start date for the tax again. Some reports say it is leaning toward an additional delay.
Kim Min-seok, leader of the Democratic Party, previously said the issue of crypto taxation should be settled this year and that the party and government would reach a conclusion through intensive talks.
With the Blue House also reviewing a tax delay, discussions between the party and the government could intensify. There is also speculation that the policy may be finalized soon through a high-level consultation involving the party, the government and the presidential office.
Under the current crypto tax framework, income from the transfer or lending of virtual assets is subject to a 22% tax on amounts above an annual deduction of about $1,810. The rate includes a 20% tax on other income and a 2% local income tax.

Israeli Prime Minister Benjamin Netanyahu said Israel is considering the use of blockchain technology and cryptocurrencies as a way to respond to international financial sanctions.
Cointelegraph reported on October 25 that Netanyahu said in an October 23 interview with Israel's Channel 10 that his government was reviewing ways to use blockchain technology and cryptocurrencies to prepare for potential international financial sanctions. Calling blockchain "an alternative to sanctions," he raised the possibility of using it as a national strategic tool.
Recently, 12 Western countries announced sanctions on products tied to Israeli settlements, citing attacks by Jewish settlers on Palestinians and the expansion of settlements in the West Bank. Some have raised the possibility that the measures could spread to Israel's broader economy.
The Bank of Israel, however, opposes Netanyahu's proposal. In a statement, the central bank said cryptocurrencies cannot be used as a means of evading sanctions.
The opposition also criticized the idea ahead of the general election on October 27. Gadi Eisenkot, leader of the Yashar party, referred to Netanyahu's plan as "BibiCoin" in a post on X and called it "a threat to national security."
Experts also said cryptocurrencies would be difficult to use to replace the existing financial system. Israeli journalist Nadav Eyal said crypto could be used to move funds without passing through some traditional banking networks, but it could not replace bank credit or international capital markets.
Ben Samocha, founder of CryptoJungle, also said cryptocurrencies and blockchain are not tools for evading sanctions. He said blockchain transaction tracing can be used to track illicit fund flows, block routes for conversion into fiat currency or freeze assets, making it difficult for the Israeli economy to bypass international sanctions through crypto.

<This week’s key economic events>
▶︎Oct. 26 (Mon.): △Corporate earnings: Verizon
▶︎Oct. 27 (Tue.): △U.S. September durable goods orders (9:30 p.m. Korea Standard Time) △U.S. October consumer confidence index (11 p.m. Korea Standard Time) △Federal Open Market Committee Day 1 △Corporate earnings: Visa, Boeing, Coca-Cola, PayPal
▶︎Oct. 28 (Wed.): △FOMC Day 2 and policy rate decision (3 a.m. Korea Standard Time on Oct. 29) △Fed Chair Kevin Warsh press conference (3:30 a.m. Korea Standard Time on Oct. 29) △Corporate earnings: Alphabet, Microsoft
▶︎Oct. 29 (Thu.): △U.S. weekly initial jobless claims (9:30 p.m. Korea Standard Time) △U.S. September personal consumption expenditures price index (9:30 p.m. Korea Standard Time) △U.S. third-quarter advance gross domestic product reading (9:30 p.m. Korea Standard Time) △Corporate earnings: Amazon, SanDisk, Starbucks, Merck, Caterpillar, Mastercard
▶︎Oct. 30 (Fri.): △U.S. third-quarter employment cost index (9:30 p.m. Korea Standard Time) △Speech by Alberto Musalem, president of the Federal Reserve Bank of St. Louis △Corporate earnings: Exxon Mobil, Chevron, AbbVie
<This week’s key cryptocurrency events>
▶︎Oct. 26 (Mon.): △Flux (FLUX) block reward reduction
▶︎Oct. 27 (Tue.): △Osmosis (OSMO) v32 upgrade
▶︎Oct. 28 (Wed.): △GMX buyback and introduction of an unstaking lock
▶︎Oct. 29 (Thu.): △Velo (VELO) community town hall
▶︎Oct. 30 (Fri.): △No major events

South Korea is increasingly likely to delay taxation on virtual-asset, or cryptocurrency, income again, pushing back a levy scheduled to take effect in January. The Blue House, the country’s presidential office, has tilted toward another deferral, though consultations with the ruling party and a parliamentary review of related legislation still remain.
News1 reported on October 25 that a Blue House official said the administration had decided to postpone the tax in part out of respect for young people’s efforts to build assets. Discussions between the government and the ruling party will move in that direction as well, the official added.
Under the current Income Tax Act, annual income from virtual-asset transfers and lending will be subject to a 22% tax rate, including local income tax, on amounts exceeding a 2.5 million won deduction from next year. The start date has already been postponed three times.
Officials have cited inadequate tax infrastructure and fairness concerns involving users of overseas exchanges as reasons for another delay. In particular, concern has grown that the tax burden could be concentrated on users of domestic exchanges, given that the U.S. is set to join the Crypto-Asset Reporting Framework, or CARF, only from 2029.
The biggest obstacle is that the U.S. does not provide South Korea with tax information, the Blue House official said. If the tax is implemented as scheduled, tax authorities would have to track information on U.S. exchanges one by one.
The ruling party is also pursuing legislation to delay the start of virtual-asset taxation until 2029. The Blue House plans to finalize its position after the annual parliamentary audit concludes and after consultations with the ruling party.

South Korean stocks are poised to search for direction this week as investors digest the US Federal Open Market Committee meeting and third-quarter earnings from Samsung Electronics Co. and SK Hynix Inc., with the Kospi expected to consolidate near its recent lows.
NH Investment & Securities on October 25 forecast the Kospi would trade in a 5,100-6,400 range this week. The benchmark index held the 5,500 level on October 23 after trimming losses when SK Hynix said it would stop reviewing an initial public offering for its US subsidiary Solidigm.
Investor attention is centered on the Fed's October 27-28 FOMC meeting. The rate decision is due at 2 p.m. on October 28 in Washington, or 3 a.m. in Seoul on October 29.
Markets had initially favored another rate increase following last month's move by the US central bank. That view softened after New York Fed President John Williams said inflation remains too high and another rate increase later this year could be appropriate, while adding that policymakers have time to review incoming data and do not need to rush because of the action taken at the September meeting.
The probability of a 25-basis-point increase in October reflected in CME FedWatch also fell to about 50% from 70% after Williams's remarks.
Lee Kyung-min, an analyst at Daishin Securities, said the market would focus more on the future path of monetary policy than on the rate decision itself. A stronger-than-expected US consumer price index reading for September, along with lingering inflation pressure from rising oil prices, could limit any stock rebound if the Fed reinforces its tightening path at this meeting, he added.
In South Korea, third-quarter earnings from Samsung Electronics and SK Hynix are a key variable. SK Hynix will release results on October 28 and Samsung Electronics on October 29.
Samsung Electronics earlier said in its preliminary third-quarter results that it posted operating profit of 107.4 trillion won. SK Hynix is also expected to post record earnings. Consensus compiled by the securities industry puts SK Hynix's third-quarter revenue at 98.2257 trillion won and operating profit at 76.964 trillion won.
Even so, investors may focus less on the headline earnings figures than on the profit outlook and additional shareholder return measures. Concerns about the sustainability of AI spending have grown after worries over credit risk tied to US company CoreWeave's corporate bonds and the financial burden from Meta Platforms Inc.'s expanded investment in artificial intelligence came into focus.
Samsung Electronics and SK Hynix recently completed share buybacks worth about 15 trillion won and 40 trillion won, respectively. Samsung has also said it plans additional shareholder returns of as much as 110 trillion won this year.
The market is watching whether Samsung will announce additional cash dividends and share buybacks and cancellations. Investors are also looking to see whether SK Hynix will unveil further shareholder return measures to ease concerns over a duplicate listing that emerged during the review of a Solidigm listing.
Na Jung-hwan, an analyst at NH Investment & Securities, said SK Hynix is estimated to have more than 30 trillion won available for additional shareholder returns. If a large-scale share buyback is confirmed, purchases by other corporations could absorb part of foreign investors' selling and help ease the Kospi's supply-demand imbalance.
Hwang San-hae, an analyst at LS Securities, said semiconductor earnings should help curb share-price volatility stemming from macroeconomic anxiety. Still, he said the market is more likely to build a floor through broader participation than stage a sharp rebound in the index. He advised investors to keep exposure to defensive sectors rather than indiscriminately increasing positions based solely on valuation appeal.

President Donald Trump said both another military strike on Iran and the possibility of a negotiated settlement remain on the table.
Crypto media outlet BlockBeats reported on October 25 that Trump said in a recent speech the Iran issue may need to be fully resolved, or the two sides could reach an agreement.
"Either way, we will win," Trump said. He added that there is a chance the US attacks Iran and also a chance of reaching a big, favorable deal with Tehran.
Trump also said Iran wants a deal.

Fidelity said Bitcoin could take less time than in past cycles to rise from $100,000 to $200,000.
Bitcoin News reported on October 24 that Zack Wainwright, a research analyst at Fidelity Digital Assets, said Bitcoin took about 16 years to top $100,000 for the first time. The climb from $100,000 to $200,000 could be much faster, he said.
Wainwright said Bitcoin's recent price action resembles earlier recoveries from bear markets. As of October 12, Bitcoin had risen about 50% from its June bear-market low of $58,000, showing a pattern similar to the recovery following the 2022 bear market.
He also noted that Bitcoin's rate of gains has slowed over successive market cycles. Past price action does not guarantee future gains.
As of 10:40 p.m., Bitcoin was trading at $80,586, down 1.31% from a day earlier.

Investor deposits shrink by 51 trillion won in four months
After hitting a record in June, they fall to this year’s low in October
Investor deposits, which surged alongside the Kospi in the first half of this year, have fallen by more than 50 trillion won in just over four months. The decline suggests retail investors are leaving the Kospi rather than stepping in to buy on weakness as the selloff deepens.
As of Oct. 22, investor deposits stood at 88.6841 trillion won, the lowest level this year since Jan. 13, when they were 88.0489 trillion won, according to the Korea Financial Investment Association. After falling below 90 trillion won on Oct. 21 for the first time in more than nine months, the balance declined again to the lowest level of the year.
Investor deposits had earlier climbed to a record 139.6948 trillion won on June 4. But as the market correction continued, the balance turned lower. It fell below 100 trillion won on Oct. 14 and then slipped under 90 trillion won just six trading days later.
Investor deposits refer to cash that individual investors have placed in brokerage accounts to buy stocks but have not yet used. Because the money serves as standby funds for equity purchases, it is viewed as a gauge of stock-market activity. If an investor puts 10 million won into a brokerage account, buys 7 million won worth of Samsung Electronics shares and leaves 3 million won unspent, that remaining 3 million won is counted as an investor deposit.
Investor sentiment has weakened rapidly this month as the Kospi underwent a sharp correction, sliding from the 7,000 level to the 5,500 level. Investor deposits have fallen by about 15 trillion won this month alone. As funds that could support a market rebound shrink, retail investors’ capacity to buy stocks at lower prices is also weakening.
Investors who bought stocks on margin are also cutting back on borrowing. Outstanding margin loans fell by more than 3 trillion won, from 33.3901 trillion won at the start of this month to 30.2710 trillion won on Oct. 21. Forced liquidations triggered by falling share prices and loan repayments by investors appear to have combined to drive the drop.
Margin balances tied to large-cap semiconductor stocks have been falling particularly fast. SK Hynix’s margin-loan balance has declined for seven straight trading days since Oct. 13, dropping by about 650 billion won. Samsung Electronics’ margin-loan balance fell by nearly 500 billion won over the same period.
Retail interest in South Korea’s stock market is also showing signs of fading. Some analysts say money leaving the domestic market is moving overseas. Huh Jae-hwan, an analyst at Eugene Investment & Securities, said customer deposits, which serve as waiting funds for stock purchases, are flowing in at a markedly slower pace than the Kospi’s moves would suggest. He added that enthusiasm for the domestic stock market had cooled.
Kang Hye-seong, an analyst at SangSangin Securities, said retail money has been moving from South Korea to the US since July. Since August, a stronger won has spurred demand for dollar conversion and reduced the appeal of domestic investments, she said.
"People used to think that if stocks fell, you could hold on or average down by picking companies with solid earnings, but that logic no longer works at all," one investor said. "When foreigners are dumping tens of trillions of won in shares, how can retail investors possibly absorb that selling?"
Another retail investor said daily swings of several percentage points, along with repeated sidecar curbs, have made it impossible to tell where the bottom is. "Now the stock market no longer feels like a place for individual investors," the investor said. "It feels like a playground only for foreigners and institutions, and for now the most efficient investment may be to stay away from the Kospi."
Kang Kyung-ju, Hankyung.com reporter memory@hankyung.com

SEC Introduces ‘Innovation Exemption’ for Tokenized Stock Trading
Dispute Flares Over Standards for ‘Public, Permissionless’ Blockchains
Companies Targeted for Tokenization Push Back
The US Securities and Exchange Commission’s introduction of an “Innovation Exemption” for tokenized stock trading is fueling debate, with blockchain projects arguing that their networks should qualify for the measure.
Digital-asset outlet Crypto in America reported on October 24 that the SEC’s move has drawn a range of responses from the blockchain industry and Wall Street financial firms.
The SEC announced in September that companies meeting certain conditions could trade tokenized US stocks without registering as traditional securities exchanges. Tokenized stocks are digital tokens on a blockchain that represent the rights attached to conventional shares.
The exemption carries conditions. Smart contracts used in tokenized stock trading must be publicly available for outside review and operate on public, permissionless blockchains.
The issue is that the SEC has not clearly defined what qualifies as a public, permissionless blockchain. Because blockchain networks differ in transaction validation methods and governance structures, interpretations vary over which chains should be allowed.
Companies preparing to operate tokenized stock trading platforms have already selected different blockchains.
Three companies have filed operating plans with the SEC so far: TSV, OKXICE and Kephas. TSV plans to use Canton Network, an institutional blockchain. OKXICE and Kephas plan to use Ethereum layer-2 networks developed by their respective corporate groups.
Solana Says Standards Should Be Tougher; Hedera Wants Permissioned Chains Included
The industry is split over what standards blockchain networks should meet to qualify for the exemption.
The Solana Policy Institute wrote in a comment letter submitted to the SEC on October 22 that the definition of a permissionless blockchain should be stricter. Simply allowing anyone to access a blockchain does not by itself make it a permissionless network, the group argued.
It added that a blockchain’s actual degree of decentralization should be assessed based on who controls transaction validation or blocking authority and who can change the network’s operating rules.
Hedera took the opposite view.
In a comment letter submitted to the SEC on October 9, Hedera argued that blockchains with limits on who can participate in transaction validation should also be eligible for the exemption.
Hedera allows anyone to access the network, but grants transaction-validation authority only to approved participants. The company’s position is that limits on validator participation alone should not exclude it from the innovation exemption.
For now, the SEC is taking the view that it will let the market experiment rather than immediately determine whether any specific blockchain qualifies. An SEC official said the measure is not a formal rulemaking and that the market would determine which blockchain model is appropriate.
Companies that meet the exemption’s conditions can begin trading tokenized stocks 30 days after filing an operating plan with the SEC, without separate approval. That means the SEC is not pre-approving the blockchain chosen by each company.
‘We Don’t Want Tokenization’: Listed Companies Also Object
Opposition is also growing among existing listed companies selected as tokenization targets.
Of the 62 US-listed companies initially selected by OKXICE for tokenization, 22 have said they object. That is more than one-third of the total.
Reuters reported that Wells Fargo, Arm Holdings and Intuit were among six additional companies that voiced opposition on October 23. Including 16 companies that had already objected, the total has reached 22.

Arthur Hayes, co-founder of BitMEX, said he had sold his altcoin holdings, including Ethereum, and plans to stay on the sidelines for the time being.
In a post on X on October 24, Hayes wrote that Maelstrom had taken profits on altcoins including Ethereum (ETH), Ethena (ENA) and Uniswap (UNI).
He cited macroeconomic and geopolitical uncertainty as the reason for the sales. The market may need to fall before it can move higher, he wrote, adding that the current macro and geopolitical backdrop looks somewhat unstable.
Hayes added that he would step back from the market for now and wait until there are signs conditions have stabilized.

A North Korea-linked hacking group known as Lazarus is preparing a large-scale cyberattack targeting South Korean government agencies and financial institutions, cybersecurity firm CYFIRMA said. A successful breach could lead to digital-asset theft.
CYFIRMA said on its website on Oct. 24 that it detected signs on Oct. 22 that a Korean-speaking hacker was attempting to attack government agencies, financial institutions and other organizations worldwide by exploiting a security flaw in the PHP programming language. The company identified the North Korean hacking group Lazarus as being behind the activity.
Targets include government agencies, banks, manufacturers and online trading platforms in South Korea, the U.S., Japan, Singapore, Australia and the European Union.
The hackers are seeking to exploit a vulnerability known as PHP2Shell. The flaw allows malicious code to be executed on a web server without a separate login, potentially leading to data theft or deeper system intrusion.
CYFIRMA rated the threat level of the campaign as "very high." It also detected signs that artificial intelligence was used in the preparation process. The company said it had not confirmed a specific timing for the attack or the actual targets.
CYFIRMA warned that Lazarus could move to steal digital assets if it succeeds in breaching servers. The campaign could also lead to credential theft, ransomware attacks and the collection of confidential information.
To prevent damage, the company recommended applying relevant security patches and reviewing suspicious activity that occurred after Oct. 17.

U.S. spot Bitcoin exchange-traded funds logged a second straight day of outflows. Continued withdrawals from BlackRock and Fidelity products pushed total net outflows over the two-day period above $770 million.
U.S. spot Bitcoin ETFs recorded net outflows of $137.94 million on Oct. 23, according to data from SoSoValue. Combined with the previous day's $635.49 million in net outflows, total withdrawals over the two sessions reached $773.43 million.
By product, BlackRock's IBIT posted the largest outflow at $110.34 million. Fidelity's FBTC also saw $31.78 million leave the fund. Morgan Stanley's MSBT, meanwhile, recorded net inflows of $4.19 million.
Grayscale's GBTC and BTC, Bitwise's BITB, and Ark 21Shares' ARKB each posted zero net inflows. Cumulative net inflows across all U.S. spot Bitcoin ETFs stood at about $57.18 billion.