TheNewsCrypto

San Francisco, CA, USA, November 10th, 2026, Chainwire
New funding will advance institutional-grade blockchain infrastructure built for privacy, compliance, and global connectivity
Alta, a financial infrastructure company building the foundation for the next generation of global finance, today announced it has raised $80 million in total funding, including a $47.5 million Series A round and $32.5 million in previous seed financing. The Series A was led by Index Ventures, with participation from GV (Google Ventures), Blackbird Ventures, Square Peg, and Capital 49.
Alta is building new institutional-grade blockchain infrastructure that enables financial assets and products to move instantly, globally, and programmatically. Unlike existing infrastructure built primarily for crypto-native applications, Alta is designed to meet the privacy, compliance, neutrality, and operational requirements of regulated financial institutions while supporting transactions across assets, chains, and jurisdictions. Its launch comes as regulatory clarity improves and institutional demand for tokenized finance accelerates.
“Existing blockchains aren’t designed for the privacy and compliance requirements of global financial institutions,” said Loong Wang, Co-Founder and CEO of Alta. “We’re taking a fundamentally different approach, building privacy, programmable compliance, and identity and authorization directly into the blockchain. This will enable money and assets to move instantly, globally, and securely, whether it’s a bank settling a transaction or an AI agent making a payment.”
Today’s global financial system is fragmented and still has many areas of inefficiency. Moving money across borders can take days, and institutions must maintain substantial cash buffers to ensure liquidity across jurisdictions and payment networks. An estimated $4 trillion is tied up in prefunded accounts globally. Alta is building a more efficient system, combining instant settlement with global payment connectivity, foreign exchange, and treasury management capabilities.
At the core of Alta’s technology is a new blockchain architecture built on recursive zero-knowledge cryptography. It enables institutions to keep balances, transactions, identities, and compliance policies private while verifying that transactions meet the required rules. Designed to work across assets, chains, and jurisdictions, Alta combines programmable compliance with the controls and scalability needed for institutional finance and agentic commerce.
“Technology alone won’t be enough to modernize global finance. Financial institutions need infrastructure they can trust, with clear controls over who they’re transacting with, where money can move, and how sensitive information is protected,” said Catherine Porter, Co-Founder and President of Alta. “As AI agents increasingly make financial decisions and execute transactions, that trust becomes even more critical. Privacy, compliance, and accountability just aren’t barriers to innovation – they’re what will allow it to scale.”
Leading financial platform Airwallex has chosen to build on Alta, connecting its global payments infrastructure with Alta’s blockchain technology. In addition to pay-ins and pay-outs via stablecoins, the collaboration will support connectivity to local fiat payment networks across 200 countries and 90 currencies. Alta is designed as neutral infrastructure that banks, payment providers, and other financial institutions can build on.
Alta’s first product will help businesses manage liquidity more efficiently and reduce cash buffers tied up in prefunded accounts. Built on tokenized assets, it will enable just-in-time funding, more efficient foreign exchange, and allow businesses to instantly move in and out of yield-bearing tokenized assets, maximizing the interest earned on otherwise idle capital.
“With the rise of agentic banking and programmable payments, stablecoins are becoming an important vector for settlement. Financial institutions need blockchain infrastructure that is private, neutral, regulated, and connected to global fiat rails. Alta is building exactly that,” said Jack Zhang, Co-Founder of Alta and Co-Founder/CEO of Airwallex. “We’re proud to be an early design partner and help Alta deliver onchain finance at institutional scale.”
Backed by Leading Global Investors
Alta’s investors bring together expertise across financial technology, enterprise infrastructure, and blockchain innovation.
“Loong is the sort of technologist you only meet a few times in a career. After a major fintech exit from his first company, he went on to run the largest supercomputing calculation in history at its time, then discovered a cancer drug now in human trials. With Catherine’s exceptional track record of bringing industry leaders to the table and Jack’s understanding of the problem space, this is a team we had to back,” said Jan Hammer, Partner at Index Ventures.
“The Alta founders have successfully built and scaled multi-billion-dollar technology and financial infrastructure businesses, and understand how to de-risk complex institutional execution. We have been impressed with their combination of deep-tech blockchain engineering, institutional go-to-market knowledge, and vision for scale, and we look forward to supporting them in their mission to reimagine financial infrastructure at its core,” said Tom Hulme, Managing Partner at GV.
The new funding will support continued development of Alta’s blockchain infrastructure, expansion of its institutional partnerships and global financial connectivity, and growth of its engineering and compliance teams.
About Alta
Alta is building global financial infrastructure for the future of tokenized finance. Combining an institutional-grade blockchain with global payments connectivity, foreign exchange, and treasury capabilities, Alta is creating the foundation for a more efficient, private, compliant, and connected global financial system. Learn more at alta.finance.
Contact
Bridgett Freybridgett@dowling-group.com

NYSE selected Avalanche as the settlement infrastructure for its proposed tokenized securities platform.
AVAX price climbed nearly to $9, trading above its 9- and 21-day moving averages on the 4-hour chart.
The New York Stock Exchange (NYSE) has selected Avalanche (AVAX) to provide blockchain infrastructure for its upcoming tokenized securities trading platform, marking a significant step in the exchange’s plans to bring traditional financial markets onto blockchain networks.
Ava Labs, the company behind Avalanche, announced the partnership on November 9. Under the agreement, Avalanche will provide the core ledger technology for the clearing firm supporting the upcoming NYSE-affiliated digital trading platform.
The proposed platform aims to support 24-hour trading, clearing and settlement of tokenized securities, allowing investors to trade beyond the operating hours of traditional stock markets. However, its launch remains subject to regulatory approval.
NEW: The New York Stock Exchange (NYSE) selects Avalanche ($AVAX) as its blockchain infrastructure partner for a proposed tokenized securities platform. The platform aims to enable 24/7 trading and faster settlement of tokenized stocks, pending regulatory approval. #NYSE #Avalanche #AVAX #Tokenization
— TheNewsCrypto (@The_NewsCrypto) November 10, 2026
According to the announcement, the platform will support equities issued across multiple blockchain networks, while Avalanche will provide the infrastructure used to record and settle transactions.
Following the news, Avalanche’s AVAX token has seen a sharp rally. The token climbed close to $9 before facing selling pressure, with its price falling back toward $8.50 on the four-hour Binance chart.
AVAX Holds Above Moving Averages Despite Selling Pressure
On the four-hour chart, AVAX was trading at $8.512 at the time of the screenshot, down 0.68% on the active candle. The token had earlier climbed from below $7.82 to nearly $9 before reversing part of those gains.
The nine-day moving average stood at $8.348, while the 21-day average was around $8.291. AVAX remains above both indicators, suggesting that the short-term trend has not turned bearish yet.
The Relative Strength Index (RSI) stood at 53.43, above its average of 45.58. An RSI reading above 50 generally indicates that buying momentum remains stronger than selling momentum, although the indicator has eased from its recent peak.
(Source: TradingView)
So, the $9 level is the immediate resistance to watch. A sustained move above it could strengthen the recovery, while a failure to reclaim that level may keep AVAX under pressure.
On the downside, the $8.35-$8.29 moving-average zone is the first support area visible on the chart. A break below it could expose the $8.00 level.
The NYSE partnership adds an important institutional use case for Avalanche, but the platform is still awaiting regulatory approval. Its eventual impact on AVAX demand remains uncertain.

Coinbase National Trust Company received final OCC approval, with its national trust bank charter becoming effective on November 6, 2026.
The charter allows federally supervised crypto custody and trust services, but not retail deposits or traditional banking.
Coinbase has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a federally chartered national trust bank, allowing the cryptocurrency exchange to expand its federally regulated digital asset custody business.
The OCC’s official application records show that Coinbase National Trust Company moved from conditional approval to consummated and effective status on November 6, 2026. The exchange initially received conditional approval on April 2, 2026, after submitting its charter application in October 2025.
(Source: OCC)
The approval gives Coinbase a federal regulatory framework for providing institutional custody and related trust services. Custody involves holding and safeguarding digital assets on behalf of customers, particularly financial institutions and other large investors.
Coinbase Vice Chairman Ryan VanGrack said the approval places more of the company’s business under federal oversight. He described the development as another step toward integrating digital assets into the traditional financial system.
Coinbase Will Not Operate as a Traditional Commercial Bank
The new charter does not allow Coinbase to operate like a conventional retail bank. The company has previously stated that it does not intend to accept retail deposits or engage in fractional-reserve banking, where banks lend out a portion of customer deposits.
Coinbase National Trust Company is also structured as a non-insured national trust company, meaning its customers will not receive FDIC deposit insurance through the entity.
The company plans to move its existing custody operations to the new national trust bank over a three-year period, according to its charter application. Coinbase will also retain its existing state-level regulatory arrangements, including oversight from the New York Department of Financial Services.
The approval comes as more cryptocurrency companies seek federal banking charters to bring custody and other digital asset services under national supervision. Ripple secured final OCC approval for its own national trust bank in October 2026, while firms including BitGo, Paxos and Circle have also pursued federal trust bank status.
Coinbase’s latest approval strengthens its position in the institutional crypto custody market while bringing its trust operations under direct federal banking oversight.

Binance CFO Kaiser Ng is leaving to pursue a new venture, with former Airwallex finance executive Justin Yek taking over.
Binance says the transition was planned six months ago. The announcement came shortly after the exchange disclosed a $6.3 billion security breach, but the company has not linked the two events.
Binance Chief Financial Officer Kaiser Ng is leaving the cryptocurrency exchange, with former Airwallex finance executive Justin Yek taking over the position. The leadership change was announced on November 7, shortly after Binance disclosed a security breach involving approximately $6.3 billion in stolen cryptocurrency.
Binance co-CEO Yi He said Ng had decided to pursue a new venture after spending more than five years at the exchange. She added that the company had been preparing for the leadership transition over the past six months.
After five years as CFO of Binance, I have decided to go build something of my own. The past ten years in the digital asset exchange space have felt surprisingly short, because I enjoyed what I was doing. Having passion for what you do is so important, and I will come back to this point. 8am to 2am became a work habit. When I felt exhausted past midnight, I would just look up at the Kobe Bryant’s statue standing in the corner of my office, and go right back to the grind! It has been the privilege of my career to help steward the finances of the world’s largest digital asset exchange through a period that tested our industry in every way: bull and bear cycles, Operation Choke Point 2.0, and a regulatory landscape that evolved as quickly as the technology itself. Finance is seldom the loudest function in a company, but it is where trust is earned. Over these five years, we transformed Finance from a pure back-office function into one that consistently generates new ideas and revenue opportunities for the company. We became amazing problem solvers. Finance understood the products and metrics as well as the business units themselves. Proud of what we have built together, and I am pleased to hand the keys to Justin, our next CFO. I want to take this opportunity to thank CZ, Yi, Richard, and the leadership team for their confidence and, above all, the amazing Binancians around the world whom I had the honor of working with. You are the reason the company stands where it does today. Binance is in very capable hands. The company continues to grow and evolve with the successful launch of TradFi assets and AI-powered user interfaces. I’d like to express my gratitude to MGX for the trust; to our home regulator Abu Dhabi Global Market and all regulators we work closely with; and to our business partners, including BlackRock, Circle, Franklin Templeton, Mastercard, our banking partners and payment channels, as well as our advisors and auditors. Special thanks to Grant Thornton Singapore and everyone who has supported Binance. As for what comes next, well, there isn’t just one project but several that I am passionate about particularly in sports and entertainment, from basketball and music, to GPUs, robotics, gold and collectibles. Bringing these real-world assets onto the blockchain through tokenization is a massive opportunity for the industry, and a big unlock for everyone. I welcome anyone with a passion in these areas to message me and potentially join my team. Even better if you love Kobe Moving from the CFO’s chair to the founder’s is a leap, and I take it with humility. I deeply believe it is where I can make a greater contribution to AI and Web3. For now, thank you, Binance, for five remarkable years.
— Kaiser Ng (@kaizng) November 8, 2026
Yek, who most recently served as vice-president of finance at Airwallex, will replace Ng as the exchange’s new CFO. He is a longtime finance executive, while Ng previously held the same position at rival cryptocurrency exchange Kraken before joining Binance.
Binance did not disclose the exact date Ng will leave the company or provide further details about his next venture. The announcement also did not specify the timeline for completing the handover.
CFO Change Comes After $6.3 Billion Security Breach
The timing of the leadership change has drawn attention because it follows one of the largest cryptocurrency thefts reported to date. Binance said the breach took place on October 29 and involved attackers compromising several employees’ computers.
According to the exchange, the attackers used malware hidden in software downloads and fake recruitment efforts targeting engineers. The incident began months before the theft was discovered, Binance said.
The FBI attributed the attack to a North Korean hacking group. North Korea has denied the allegation. Binance said it would fully reimburse customers affected by the incident. The exchange has not linked Ng’s departure to the security breach.
Yi He’s statement that the transition plan had been in place for six months is significant because it indicates the succession process began well before the October 29 incident.
Ng has served as Binance’s CFO since January 2022, according to his professional profile cited by Reuters. Yek’s appointment marks a change in the exchange’s finance leadership as it deals with the aftermath of the security incident.

Binance, Tether, World Liberty Financial and Fight Fight Fight LLC have until January 4, 2027, to voluntarily provide records sought by Blumenthal’s Senate investigations.
The letters warn of possible alternative measures if the companies do not comply, but they are not subpoenas and do not establish wrongdoing.
U.S. Senator Richard Blumenthal has given Binance, Tether and two cryptocurrency companies linked to President Donald Trump until January 4, 2027, to hand over records requested as part of ongoing Senate investigations into alleged financial misconduct and potential conflicts of interest.
Blumenthal announced the deadline on November 5, saying the companies had not adequately cooperated with earlier requests from the Senate Permanent Subcommittee on Investigations (PSI). The four recipients are Binance, stablecoin issuer Tether, World Liberty Financial (WLFI) and Fight Fight Fight LLC, the company behind the $TRUMP memecoin.
In his letters, Blumenthal warned that failure to voluntarily provide the requested information by January 4 would leave the subcommittee with no choice but to consider alternative measures to obtain compliance.
LATEST: U.S. Senator Richard Blumenthal gives Binance, Tether and Trump-linked crypto firms until January 4, 2027, to hand over records for ongoing investigations into alleged crypto-related financial misconduct, sanctions evasion and potential conflicts of interest. He warns that failure to comply could lead the Senate subcommittee to pursue alternative measures to obtain the documents. #Binance #Tether #Trump #Blumenthal
— TheNewsCrypto (@The_NewsCrypto) November 9, 2026
The letters also set an earlier date for the companies to begin producing records. They were asked to start submitting documents by November 30, with further production to follow according to arrangements with subcommittee staff.
Investigations Cover Sanctions Concerns and Trump-Linked Crypto Ventures
The requests relate to separate investigations. Blumenthal has questioned Binance over reports of cryptocurrency transfers involving Iran-linked entities and concerns about the exchange’s anti-money laundering and sanctions controls. Binance has disputed allegations of wrongdoing and said it does not permit transactions involving sanctioned individuals.
Tether is facing scrutiny over the use of its USDT stablecoin in Iran-linked financial networks. A September 28 report by the subcommittee examined cryptocurrency wallets associated with Iran and regional groups, while Tether has defended its cooperation with authorities in freezing illicit funds.
The other two companies are connected to Trump’s cryptocurrency ventures. Blumenthal opened an inquiry into World Liberty Financial and the $TRUMP memecoin in May 2025, raising questions about foreign investments, financial dealings and possible conflicts of interest involving the president’s business interests.
Blumenthal currently serves as the subcommittee’s top Democratic member and is expected to become its chair when Democrats take control in January. The November letters are voluntary records requests, not subpoenas. His warning does not mean the companies have been found guilty of misconduct or that compulsory legal action has already begun.
The investigations are part of a wider effort by Blumenthal to examine cryptocurrency-related activity and potential conflicts involving the Trump administration.

China’s central bank says Solana’s Shanghai advertising campaign violated existing cryptocurrency rules and has launched an investigation into the domestic parties involved.
Authorities stopped the Solana Accelerate China 2026 event on October 16. The PBOC has not named those under investigation or announced penalties.
China’s central bank has confirmed that authorities stopped a planned Solana event in Shanghai and will investigate the companies and individuals involved in promoting the blockchain network in the country.
A People’s Bank of China (PBOC) official said on November 6 that Solana had used domestic companies to advertise its brand and native SOL token. The promotional campaign included an advertisement displayed on the exterior wall of Citigroup Tower in Shanghai’s Lujiazui financial district.
The comments were published by Financial Times. According to the report, the PBOC worked with local financial regulators, police and market supervision authorities to stop the planned Solana Accelerate China 2026 event before it began.
The central bank will now investigate the domestic entities and individuals connected to the promotional activities. However, the official did not identify the parties under investigation or announce any penalties.
PBOC Cites February 2026 Cryptocurrency Restrictions
The official said Solana’s promotional activities violated China’s existing cryptocurrency rules. The PBOC considers SOL a virtual currency and also pointed to Solana’s blockchain services supporting the issuance and trading of other digital assets, including Tether’s USDT stablecoin.
The central bank cited a regulatory notice issued in February 2026 by eight Chinese government agencies. The notice classifies cryptocurrency-related business activities as illegal financial activities in mainland China. It also prohibits internet companies from providing advertising, marketing, commercial display and other promotional services for virtual currency-related businesses.
Solana’s Shanghai event was scheduled for October 16 at the Shangri-La Hotel. Organizers initially told attendees that the gathering had been postponed because of last-minute venue logistics.
Solana Foundation President Lily Liu later said registrations had quadrupled overnight following publicity surrounding the event, exceeding the attendance limit registered with local authorities. She cited crowding concerns and local requirements as the reason for the postponement.
We put Solana on the big screen because that’s the big heart Solana has for the Chinese community, and that’s the warm welcome we are so thankful to feel from the Chinese community. Due to the publicity, event registrations quadrupled overnight, far exceeding the event cap we had registered with local authorities, and we had no way to prevent people from overwhelming the venue. So, in order to comply with local requirements, we are going to postpone this event for when we can better accommodate the breadth and scale of our community. Apologies to everyone who came from near and far to come be part of Solana in Shanghai. See you soon!
— Lily Liu (@calilyliu) October 16, 2026
The PBOC’s latest comments, however, confirm that regulatory authorities intervened to stop the gathering.
China has maintained restrictions on cryptocurrency trading and related financial services since 2021. The November 6 announcement does not introduce a new nationwide ban on Solana. Instead, it signals further enforcement against domestic cryptocurrency businesses and local entities connected to overseas platforms.

Zcash activated NU7 at block 3,543,405, reducing its target block interval from 75 seconds to 25 seconds and increasing potential shielded transaction capacity.
The upgrade redirects 60% of transaction fees into a future mining reward reserve and makes approximately 12,224 ZEC in the legacy Sprout pool unspendable.
Zcash has activated its NU7 network upgrade on mainnet, introducing faster block production and changes to how transaction fees support the network’s long-term security.
The upgrade went live at block height 3,543,405 on November 6 at 02:34 UTC, according to blockchain tracking data. It reduces the target time between blocks from 75 seconds to 25 seconds, allowing transactions to receive their first confirmation more quickly.
(Source: ZecBlock)
The change could make Zcash payments more practical for everyday transfers, exchange deposits and merchant transactions. However, the actual time users wait will depend on network conditions and the confirmation requirements set by individual services.
NU7 also introduces changes to the network’s shielded transaction system, which allows users to send ZEC without publicly revealing the sender, recipient or transaction amount.
NU7 Changes Transaction Fees and Retires Legacy Privacy Pool
One of the major changes involves the Network Sustainability Mechanism (NSM). Under the new rules, miners receive 40% of transaction fees, while the remaining 60% goes into a reserve intended to support future mining rewards.
The reserve will not immediately distribute rewards. Its scheduled reissuance is expected to begin around February 2031, at block height 8,939,664. The mechanism is designed to provide an additional source of mining incentives as regular block subsidies decline.
The upgrade also retires Zcash’s original Sprout privacy pool, introduced when the network launched in 2016. Version 4 transactions are now invalid, making approximately 12,224 ZEC remaining in Sprout unspendable through the existing protocol. No approved recovery mechanism is currently available.
Meanwhile, NU7 introduces limits on shielded transactions per block to reduce the amount of blockchain data wallets must download when searching for private payments. The changes could increase the capacity for simple Orchard transactions from approximately 2.9 to 6.6 transactions per second.
Despite the faster block schedule and revised fee system, Zcash’s maximum supply remains unchanged at 21 million ZEC. The upgrade also adjusts the block subsidy to maintain the same daily issuance.
NU7 marks a major change to Zcash’s transaction processing and mining economics, with the network now operating under its new consensus rules.

Singapore Blockchain Week (SBW) returns from 13 to 17 November 2026. It is a government-supported flagship event, bringing together a coalition of regulators, financial institutions, sovereign entities, family offices, founders, investors, enterprises, and ecosystem builders to shape the next phase of the new economy.
Featuring a stellar line up of thought leaders and industry speakers including H.E. Justin Sun – Founder of TRON; Jose Fernandez da Ponte – President, Stellar Development Foundation; Hang Jia – Executive Chairman of DCS Group (Diners Club Singapore); Shun Ishikawa : Co-Founder of Startale Group; Matthew Dawson – Co-founder of Ethereum Institutional; Wee Siang Lee – Executive Director of Paxos; Rahul Bhargava – Senior Financial Sector Consultant of World Bank and Interim Chief Operating Officer of Contour Network. ; Nischint Sanghavi – Head of Digital Currencies, Asia Pacific of VISA; Jasoria Advait – Vice President of Kinexys by J.P. Morgan, Albina Gaisina – Blockchain and Digital Innovation Analyst of United Nations Development Programme, Stéphanie Cabossioras – Chief Strategy & Global Policy Officer of Société Générale-Forge, Inmooo Hwang, CEO – ADDX, Kevin Kang – Co-Founder of Reap, Annabelle Huang – Co-founder and CEO, Altius Labs and Venture Partner of Amber Group, Kiran Mistry – Regional Head of Financial Services of Asia Pacific, Japan & China, SAP and CK Ong – Acting CEO of SBI Digital Markets.
A Cross-Border Platform for the Next Financial and Digital Era
SBW 2026 is uniquely positioned as the world’s first cross-border blockchain week, connecting Singapore and Malaysia’s Johor–Singapore Special Economic Zone (JS-SEZ) to accelerate innovation, investment and technology collaboration across Southeast Asia, with support from partners including Singapore Global Network – Economic Development Board, Singapore Tourism Board, Malaysia Digital Economy Corporation, Iskandar Regional Development Authority, Johor Corporation, etc.
SBW 2026 will spotlight the convergence of emerging technologies and financial systems through the following :
November 13 (Friday): Special Economic Zone Immersion
November 14 (Saturday): Tech-Enabled Sports
November 15 (Sunday): Learnathon
November 16 (Monday): Inner Circle
November 17 (Tuesday): Institution Summit
Commenting on the premier government-supported event, Sebastian Zilliacus – Chair of Singapore Blockchain Week 2026 Advisory Committee, said,
“When leaders from Visa, J.P. Morgan, Sony, SAP, the United Nations Development Programme and the world’s leading blockchain foundations choose to gather in the same week, it signals how far this industry has come. Our role is to make sure that the week produces more than headlines. We want Singapore Blockchain Week to be where traditional finance and emerging technology stop talking past each other and start building together.”
CK Ong, Acting Chief Executive Officer of SBI Digital Markets; Strategic Partner of Singapore Blockchain Week 2026, commented,
“The question for tokenisation is no longer whether the technology works, but whether the market around it does. Pilots become production when regulatory clarity, distribution, custody and commercial viability line up. Regulated players like SBI Digital Markets, who structure and distribute these products, have a real role in building that market, and Singapore Blockchain Week is where we, the regulators and institutions can align.”
Singapore Blockchain Week serves as a strategic platform for advancing the convergence of Artificial Intelligence (AI), Decentralized Finance (DeFi), Real World Asset (RWA) and Venture Capital (VC) and positioning Singapore and the wider ASEAN region at the forefront of global digital transformation.
The South East Asia gateway aims to foster meaningful dialogue, institutional adoption, and cross-border partnerships through a week of conferences, summits, roundtables, exhibitions, networking sessions, and ecosystem activations. These themes reflect growing institutional interest in blockchain-powered infrastructure and the convergence of traditional and emerging technologies.
Experience the Future of Digital Economy
SBW 2026 aims to serve as a high-level convening point for both public and private sector leaders to explore regulatory frameworks, investment opportunities, and technological innovation shaping the next generation of financial systems.
Kiran Mistry – Regional Head of Financial Services of Asia Pacific, Japan & China, SAP who is co-hosting the Inner Circle Round Table Segment of Singapore Blockchain Week 2026—added,
“For the digital economy to truly scale, emerging technologies like blockchain and real-world assets must seamlessly connect with the enterprise backbone. At SAP, we believe the next era of financial innovation is about interoperability, bridging decentralized finance with core enterprise systems to deliver real-time treasury visibility, secure cross-border settlements, and tangible business value for institutions.”
“​Supply chains cannot unlock optimal velocity or liberate trapped working capital while trade finance remains paper-bound and disconnected from modern settlements. As the first global, multilateral trade finance platform on blockchain, Contour has been processing live commercial Letters of Credit digitally since 2021. We are bridging this divide and actively addressing the $2.5 trillion trade finance gap through AI-assisted operations, pre-validation against Infocomm Media Development Authority’s TradeTrust and Global Legal Entity Identifier Foundation (GLEIF) standards, and flexible multi-rail settlements, delivered through an accessible, open-utility model. From Contour and XDC Network’s home base in Singapore, the Inner Circle Roundtable and Singapore Blockchain Week offer the ideal stage to review with global industry experts how a convergent and streamlined digital trade-to-settlement experience can help unlock supply chain velocity at scale. ”
said Rahul Bhargava – Senior Financial Sector Consultant of the World Bank and Interim Chief Operating Officer of Contour Network.
Singapore Innovation Centre, the organiser brings practical experience in bringing Web3 innovation to real-world applications, including agentic commerce and ticketing, Web3-powered human-layer running experiences, and stablecoin payments for merchandise. These initiatives demonstrate how blockchain can move beyond theory into tangible use cases that connect businesses, institutions, and communities.
Through curated programming and cross-border engagement, the event is designed to strengthen collaboration between traditional finance and emerging decentralized ecosystems, while supporting responsible innovation across the region.
Raymond Ngan – Managing Director of Singapore Innovation Centre, which manages the intellectual property of Singapore Blockchain Week, commented,
“This flagship event serves as a strategic platform to connect institutions, enterprises, investors, and technology innovators in shaping the future of the digital economy. With Singapore as a regional gateway and the Johor–Singapore Special Economic Zone creating new opportunities for cross-border collaboration, we aim to strengthen Singapore and Southeast Asia’s position in the global digital economy, particularly as Singapore prepares to assume the ASEAN Chairmanship in 2027.”
For more information and event registration, please visit : https://www.singaporeblockchainweek.org
About SBI Digital Markets
SBI Digital Markets is a subsidiary of SBI Digital Asset Holdings, the digital asset arm of Japan’s leading conglomerate SBI Group. With the largest securities account customer base and second-largest trading market in Japan, SBI Group has a global network across 26 countries and regions including key markets in Asia and Europe.
SBI Digital Markets offers clients a comprehensive digitalisation framework from origination, tokenisation, and distribution to custodian services across traditional and Web 3 securities products.
For more information, please visit : https://sbidm.com
About SAP
SAP is a global leader in enterprise applications and business AI. We help organizations run mission-critical operations across finance, procurement, supply chain, human resources, and customer experience, moving from systems that record work to systems that can help execute it. Our goal is to be the #1 Business AI company, powering the Autonomous Enterprise. Our partners amplify SAP’s value through solution innovation, deep product expertise, world-class services, and more. For over 50 years, organisations have trusted SAP  to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. The company has 110,000+ employees from 157+ countries, €36.8 billion total revenue (non-IFRS) in FY2025, 300m+subscribers in our cloud user base, 100+ development locations worldwide, AAA for MSCI ESG rating (Environmental, Social and Governance) Top 5% on S&P ESG Score.
For more information, please visit http://www.sap.com
About Contour Pte Ltd
Contour Network is a digital trade finance network connecting banks, corporates and technology partners to modernise global trade through blockchain technology and digital documentation. Its institutional ecosystem includes leading financial institutions such as HSBC, Standard Chartered, BNP Paribas, Bangkok Bank, DBS, ICBC and Bank of China, alongside corporates including Tata Steel, Tata International and United Tractors.
With strategic backing from XDC Ventures, Contour is exploring stablecoin-enabled settlement, cross-border payments and programmable trade finance through its Stable-Coin Lab. By bridging traditional banking infrastructure with blockchain innovation, Contour is advancing more transparent, efficient and connected trade finance solutions for global commerce.
For more information, please visit https://www.contour.network
About Singapore Innovation Centre
Singapore Innovation Centre is a platform focused on innovation, enterprise development, and industry collaboration, supporting businesses in areas including innovation planning, digital transformation, industry partnerships, and market development.
At the early stage of its formation, the Centre championed Singapore Food United e-commerce platform endorsed by Singapore Food Manufacturers’ Association and officially launched in the presence of Singapore’s Minister for Trade and Industry. Commissioned by Workforce Singapore – Ministry of Manpower, to conduct Industry Catalyst Programmes to support enterprise capability development. In recent years, supporting vibrant heartland businesses in industry engagement and digitalisation under appointment by Federation of Merchants’ Associations Singapore supported by Enterprise Singapore.
The organisation also manages the intellectual property of three government-supported, industry-led flagship platforms: Singapore Artificial Intelligence Week, Singapore Blockchain Week, and Singapore Sustainability Festival. These platforms serve as catalysts for emerging technologies, enterprise innovation, and cross-sector ecosystem collaboration.
For more information, please visit https://www.singaporeinnovationcentre.com
Media Contact
Mr. Andy Zhang Singapore Innovation Centre Email : management@singaporeinnovationcentre.com Mobile: +65 8959 2812
Ms. Faralynn Wong Asia Investor Relations Email: faralynn@asiainvestorrelations.comMobile: +65 8308 1616
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Hyperliquid Strategies has applied for CFTC Futures Commission Merchant registration through a subsidiary to handle U.S. customer accounts for permissioned perpetual futures markets under HIP-3*.
The company reported $620.6 million in Q3 net income, largely driven by $803 million in unrealized HYPE gains, while quarterly revenue stood at $13.3 million.
Hyperliquid Strategies (NASDAQ: PURR), one of the largest corporate holders of Hyperliquid’s HYPE token, has applied for U.S. regulatory approval to handle customer accounts for perpetual futures markets built on the network. The move comes as the company reported $620.6 million in net income for the third quarter of 2026.
In its November 5 financial results, the company confirmed that a subsidiary had filed an application with the U.S. Commodity Futures Trading Commission (CFTC) to register as a Futures Commission Merchant (FCM).
If approved, the subsidiary would carry U.S. customer accounts for permissioned markets launched under Hyperliquid’s proposed HIP-3* framework. The system would allow independent operators to create and manage their own markets using Hyperliquid’s on-chain infrastructure, while the proposed FCM would provide a regulated structure for handling customer accounts.
JUST IN: Hyperliquid Strategies (NASDAQ: PURR), the largest publicly listed HYPE treasury firm, has filed an application for a subsidiary to become a U.S. Futures Commission Merchant (FCM). The company reported $620.6 million in net income for the quarter ended September 30, 2026, largely driven by $803 million in unrealized gains on its $HYPE holdings. If approved, the subsidiary would handle U.S. customer accounts for permissioned perpetual futures markets on Hyperliquid under its HIP-3* framework. #Hyperliquid #HYPE #PURR
— TheNewsCrypto (@The_NewsCrypto) November 6, 2026
The company has not provided a confirmed approval or launch date. It also warned that there is no guarantee about the timing or outcome of the application or the regulatory approval of individual markets.
HYPE Holdings Drive Quarterly Profit Above $620 Million
Hyperliquid Strategies reported $13.3 million in revenue for the quarter ended September 30, including $12.3 million from staking and validator commissions and $1 million in interest income.
However, its $620.6 million net income was largely driven by an $803 million unrealized gain on its HYPE holdings. These gains reflect an increase in the value of tokens the company continued to hold, rather than profits generated from selling them.
The company also recorded a $172.3 million income tax provision and $15.3 million in expenses, primarily related to its committed equity facility.
Its HYPE treasury reached approximately 38.52 million tokens by September 30, valued at $3.505 billion using a token price of $90.99. During the quarter, it raised $911 million in equity capital and spent $785 million acquiring 9.1 million HYPE tokens. It also repurchased 2.7 million PURR shares for $17 million.
At quarter-end, the company reported $254.6 million in cash and cash-like assets, $3.4 billion in shareholders’ equity and no debt.

Seoul, South Korea, November 5th, 2026, Chainwire
With phased rollout targeted for the first half of 2027, the service is expected to connect LINE FRIENDS’ online and offline commerce with the Web3 ecosystem, offering customers in Korea and abroad an additional payment option for purchasing physical products with minicoin
Digital IP entertainment company IPX (formerly LINE FRIENDS) plans to introduce a payment service using ‘minicoin’ at LINE FRIENDS online and offline stores. The service is intended to make digital asset payments a seamless extension of the fan experience, linking fans’ engagement with character IP to the point of purchase and connecting IPX’s online and offline commerce with a Web3-based digital ecosystem.
For more than a decade, IPX has brought its character IPs to life through products, content, and pop-ups, extending these experiences across online and offline channels worldwide. Building on its expertise in IP and retail, the introduction of this service presents a new digital IP commerce model that integrates digital asset payment technology into IP merchandise purchases.
Minicoin is a utility coin developed and issued by Mini Labs under an official license granted by IPX to use its globally popular ‘minini’ character IP. Its blockchain-based ecosystem seeks to transparently record activities generated through interactions between IP and fans, including creation, consumption, and transactions, and link them to registration and settlement processes.
The minicoin payment service is planned for phased rollout across LINE FRIENDS stores in Korea and abroad, with a rollout targeted for the first half of 2027. The service is expected to offer international visitors and overseas fans additional payment options. K-POP SQUARE, which opened in the heart of Seoul’s Hongdae district in June 2025, welcomed over one million visitors in its first year, approximately 80% of whom were international fans from more than 90 countries. As digital assets gain traction as payment methods worldwide, the service is expected to see strong demand.
“This service rollout marks an important step toward using digital assets to purchase physical merchandise, beyond trading and use within specific platforms,” said an IPX official. “We believe that the value of IP can grow further as it expands beyond connecting with fans through content and products to finding new ways to engage with them across the digital IP ecosystem. We will continue to explore new IP business opportunities that connect IP, fans, and commerce together in this evolving landscape.”
About IPX (F.K.A. LINE FRIENDS)
IPX is the new corporate name of LINE FRIENDS, a global character brand that started with original characters including BROWN, CONY, and SALLY, created for use as stickers for the leading mobile messenger app LINE and its 200 million active users worldwide. IPX has announced a new business strategy that it would accelerate the global expansion of its IP businesses by diversifying its IP portfolios targeting all ages and advancing its digital and retail business. IPX provides diverse IP experiences including BT21(BTS), ZO&FRIENDS(G-DRAGON), minini, and JOGUMAN. It has also carried out its IP-based business by partnering with global companies including Netflix (original animated series) and HoYoverse (Genshin Impact) to win the hearts of over 50 million Millennials and Generation Z worldwide. IPX currently operates in 18 markets worldwide, including Seoul, New York, LA, Tokyo, and Shanghai, and operates on 8 online sales platforms.
Contacts
ManagerJiwoo HongBursonjiwoo.hong@bursonglobal.comSr. DirectorHanna ParkBursonhanna.park@bursonglobal.com

South Korea is seeking to delay its 22% cryptocurrency gains tax from January 2027 to January 2029, pending approval from the National Assembly.
The government also plans to introduce a three-year loss carryforward provision, allowing investors to offset eligible past losses against future crypto gains.
South Korea plans to push back its cryptocurrency tax by another two years, moving the proposed implementation date from January 2027 to January 2029. The government announced the plan on November 5, citing gaps in overseas transaction reporting and the need for more time to prepare its digital asset regulatory framework.
Finance and Economy Minister Lee Hyeong-il said the government would work with the National Assembly to amend the existing tax law. If lawmakers approve the change, it will mark the fourth postponement since South Korea first introduced the tax plan in 2020.
Under the existing framework, individuals would pay a 20% national income tax plus a 2% local income tax on annual cryptocurrency gains exceeding 2.5 million won (approximately $1,869). The rules cover income from transferring or lending virtual assets.
JUST IN: South Korea delays its planned cryptocurrency tax until 2029, pushing implementation back by two years from the previously scheduled January 2027 start. The Finance Ministry confirmed the delay, marking the fourth postponement of the crypto tax. #SouthKorea #Crypto #Tax
— TheNewsCrypto (@The_NewsCrypto) November 5, 2026
The government said beginning taxation before international crypto transaction data becomes available could put South Korean investors and domestic exchanges at a disadvantage compared with overseas markets.
South Korea is scheduled to begin exchanging crypto-asset tax information with the United States in 2029 under the OECD-backed Crypto-Asset Reporting Framework (CARF). The government wants to use that system to improve its ability to identify overseas transactions and calculate taxable income.
Government Also Plans Three-Year Loss Carryforward
Alongside the proposed delay, the government plans to introduce a three-year loss carryforward provision for cryptocurrency investors.
Under the current rules, investors can offset gains and losses within the same tax year but cannot carry unused losses into future years. The proposed change would allow eligible losses to be deducted from gains in subsequent years, for up to three years.
The government also plans to establish a public-private working group involving industry representatives, experts and officials to review tax rules, reporting requirements and filing procedures.
The group is expected to work through the first half of 2027. The government plans to submit the necessary legislative amendments during the National Assembly’s regular session that year and publish detailed tax guidelines in the first half of 2028.
The proposed January 2029 start is not yet legally final. South Korea’s National Assembly must approve the required amendments before the new timetable takes effect.

India’s CERT-In identified CRAFTY FALCON in an active AI-assisted cyberattack campaign targeting crypto exchanges and financial firms.
The agency reported crypto wallet key theft and fund transfers, warning organisations to strengthen cloud security, API monitoring and wallet protection.
India’s cybersecurity agency CERT-In has issued a critical warning about an active hacking campaign targeting cryptocurrency exchanges and financial institutions, with attackers using artificial intelligence (AI) tools to steal wallet keys and transfer funds.
In its November 4 advisory, identified as CIAD-2026-0058, the Indian Computer Emergency Response Team named the threat actor “CRAFTY FALCON” and said the attacks were continuing to escalate. The campaign also targets non-banking financial companies (NBFCs), digital lending platforms, fintech firms, payment aggregators and payment service providers.
BREAKING: India’s CERT-In warns that AI-powered hackers are targeting crypto exchanges, stealing wallet keys and siphoning funds. The agency identified the threat actor as “CRAFTY FALCON” and said the attacks remain active and escalating. CERT-In has urged exchanges to strengthen security and maintain 24/7 monitoring. #CERTIn #CyberSecurity #Crypto #India
— TheNewsCrypto (@The_NewsCrypto) November 5, 2026
CERT-In said its financial-sector response team, CSIRT-Fin, had received reports of successful attacks, including against organisations that had already been warned and attempted to fix security weaknesses. Some were targeted again after incomplete remediation, while attackers timed operations around weekends and holidays when security teams may have fewer staff monitoring systems.
Four AI tools identified in the campaign
The advisory names four publicly available tools used in the attacks: ARTEX, PentAGI, Cairn and CyberStrikeAI. According to CERT-In, these tools can automate attack sequences, generate and refine customised scripts, and adjust their methods based on how target systems respond. The attackers also rotate their supporting infrastructure’s IP addresses within hours or days, making detection more difficult.
The agency described several methods used to break into financial systems. Attackers have exploited exposed testing environments, misused cloud services and made unauthorised requests to payment APIs through modified applications. In some cases, they sent small test payments, including transactions worth just ₹1, to check whether unauthorised transfers would work before attempting larger amounts.
(Source: CERT-In)
CERT-In specifically reported that cryptocurrency exchanges and virtual digital asset service providers had been targeted, with wallet keys stolen and funds siphoned from wallets. However, the advisory did not identify affected exchanges or disclose the total amount stolen.
The agency has urged financial firms to maintain round-the-clock security monitoring, strengthen transaction checks and store crypto wallet keys in hardware security modules or cold storage. It also recommended multisignature approval for withdrawals and immediate key rotation if a compromise is suspected.

Polygon proposed a hard fork to recover 70.49 million POL, worth approx. $6.5 million, from five blocked addresses.
The funds would be transferred to recovery wallets designated by Binance and Polymarket, pending governance approval and a network upgrade.
Polygon is considering a hard fork that would transfer approximately 70.49 million POL, worth around $6.5 million at the reference price used in the proposal, from five blocked addresses to recovery wallets designated by Binance and Polymarket.
The Polygon Improvement Proposal (PIP) was published on the network’s community forum on November 4 by Parvez03, a member of the Polygon Labs Validator Support Team. The proposal was co-developed with the two affected companies and calls for a one-time change to the Polygon PoS network’s ledger.
(Source: Polygon)
The funds are linked to separate security incidents involving Binance and Polymarket on October 29 and 30. Four addresses associated with the Polymarket incident hold 23.86 million POL, while a fifth address linked to Binance contains another 46.63 million POL.
(Source: Polygon)
The combined balance is 70,489,329.34 POL. The proposal uses a POL price of $0.0924 on October 29 to estimate its value at approximately $6.5 million.
How the Polygon proposed recovery would work
If approved, the hard fork would set the POL balances of the five listed addresses to zero at a designated block and credit the corresponding amounts to verified recovery wallets belonging to Binance and Polymarket. The network’s total POL supply would remain unchanged.
Polygon block producers have already blocked transactions from the identified addresses, preventing the funds from moving. However, the existing restrictions cannot return the assets to their owners. The proposal also says attackers have attempted to bypass the restrictions and approached validators with offers of payment.
The proposed transfer is limited to native POL held in the five specified addresses. Around 6.18 million USDT sent to the Binance-linked address is excluded because Tether has already frozen those funds. Other Binance-related blocked addresses are also excluded.
(Source: Polygon)
The proposal is due for discussion during Polygon’s Protocol Governance Call on November 5 at 14:30 UTC. If approved, development and testing on the Amoy testnet are expected to take around two weeks before a possible mainnet activation. The recovery has not yet been approved or completed.

Escaldes-Engordany, Andorra, November 4th, 2026, Chainwire
With over 1 million downloads, the NEAR ecosystem’s largest mobile wallet expands its global reach while launching gasless cross-chain swaps across 120+ assets and 35+ blockchains powered by NEAR Intents.
NEAR Mobile is gaining international traction, appearing in App Store rankings across 38 countries over a recent 31-day period, according to app ranking data from Toplify.
The self-custodial wallet reached #1 in Finance in Serbia, #2 in Hungary, and #4 in Moldova and Oman, highlighting its growing visibility across international markets. NEAR Mobile also recently reached #7 in Finance in Finland and Nigeria.
These milestones come amid growing attention around the NEAR ecosystem and its chain abstraction infrastructure. NEAR Intents, the protocol powering cross-chain execution across the ecosystem, has surpassed $33 billion in cumulative volume across 35 blockchains.
With more than one million downloads, NEAR Mobile is the largest mobile wallet in the NEAR ecosystem and continues to expand its capabilities with version 4.0.0, introducing a gasless experience designed to make blockchain interactions significantly simpler.
From Global Adoption to a Gasless Multichain Experience
As NEAR Mobile expands its international reach, its latest update addresses one of crypto’s biggest usability challenges: gas fees.
Traditionally, users interacting with multiple blockchains must maintain different native tokens to pay transaction fees, even when they already hold the assets they want to transfer or swap.
With version 4.0.0, NEAR Mobile sponsors relayer fees for supported transactions, enabling users to swap and move assets across supported networks without needing to hold NEAR or maintain native gas tokens across different blockchains.
Powered by NEAR Intents, NEAR Mobile provides access to more than 120 assets across 35+ blockchains, combining cross-chain execution, unified balances, staking and self-custodial asset management in a single mobile interface.
One Wallet. All Chains. Powered by NEAR.
Unified Balances Across 35+ Blockchains
Beyond removing gas complexity, NEAR Mobile addresses another major challenge in crypto: fragmented liquidity.
A user holding USDC across Ethereum, Base, BNB Chain and TRON traditionally has separate balances that may require manual bridging and network switching to use together.
Through NEAR Intents, NEAR Mobile can present supported liquidity from multiple networks as a unified balance, allowing users to send or swap aggregated assets without manually bridging funds first.
Cross-chain swaps can settle in seconds, bringing the experience closer to using a single financial account rather than navigating multiple independent blockchains.
By abstracting networks, bridges and gas tokens, NEAR Mobile makes NEAR’s chain abstraction technology accessible to everyday users.
The Largest Mobile Wallet in the NEAR Ecosystem
With over one million downloads and growing visibility across international Finance App Store rankings, NEAR Mobile has established itself as a leading consumer application within the NEAR ecosystem.
Available on both iOS and Android, the self-custodial NEAR wallet allows users to create and manage NEAR accounts, send and receive assets, stake NEAR and access multichain functionality directly from their phones.
NEAR Mobile supports onboarding through Google, Apple ID or email, combining a familiar mobile experience with self-custody and on-chain account recovery.
Experienced users can alternatively create or import wallets using a traditional mnemonic phrase.
The wallet also provides NEAR staking and access to NPRO staking, currently offering up to 8.58% APY.
As NEAR’s chain abstraction ecosystem continues expanding, NEAR Mobile aims to make its infrastructure accessible through an intuitive consumer-facing application.
NEAR Mobile at a Glance
1M+ downloads
App Store rankings across 38 countries in a recent 31-day period
#1 Finance in Serbia, #2 Hungary, #4 Moldova and Oman
120+ assets across 35+ blockchains
Gasless transactions for supported actions
Cross-chain swaps powered by NEAR Intents
Unified multichain balances
NEAR and NPRO staking
Google, Apple ID, email and mnemonic onboarding
On-chain account recovery and self-custody
Available on iOS and Android
About NEAR Mobile
NEAR Mobile is the largest self-custodial mobile wallet in the NEAR ecosystem, with more than 1 million downloads across iOS and Android.
Powered by NEAR Intents, the wallet enables users to manage NEAR, stake assets and access more than 120 tokens across 35+ blockchains through gasless cross-chain functionality and unified balances.
Its mission is to make NEAR’s chain abstraction infrastructure accessible to everyone by removing the complexity of networks, bridges and gas tokens.
One Wallet. All Chains. Powered by NEAR.
Contact
NEAR MobileFerran PratPeersyst Technology Global SLfprat@peersyst.com

FinChain and Plume launched FLEX & FINO, a leveraged RWA yield strategy targeting up to 7.2% APY using FUSD as collateral and borrowed USDC for DeFi liquidity pools.
The strategy includes a 90% utilization cap, T+2 redemptions and T+14 to T+30 interest settlements.
FinChain, a crypto-finance platform incubated by Fosun Wealth Holdings, has partnered with institutional open finance platform Plume to launch FLEX & FINO, a leveraged yield strategy targeting annualized returns of up to 7.2% on its FUSD real-world asset (RWA) token.
Announced on November 4, the product combines income from tokenized traditional financial assets with additional returns generated through decentralized finance (DeFi) liquidity pools. The projected 7.2% APY is based on baseline assumptions and is not a guaranteed return.
FUSD, or FinChain Dollar, is backed by tokenized short-term U.S. Treasury securities and compliant money market funds. FinChain says its reserves are held by designated custodians and maintained at a minimum collateralization ratio of 100%.
How the FLEX & FINO strategy works
Under the arrangement, users deposit FUSD as collateral and continue earning its underlying yield. They can then borrow USDC against their holdings and deploy the borrowed stablecoins into on-chain liquidity pools to generate additional income.
The strategy uses a leveraged looping model, allowing users to combine Treasury-linked returns with potential DeFi yields. However, borrowing costs and liquidity pool performance will influence the actual returns.
FinChain has set a 90% utilization cap as part of its risk management measures. Redemptions follow a T+2 settlement cycle, while interest settlements take place between T+14 and T+30.
The companies did not disclose the initial total value locked (TVL) or provide a detailed breakdown of the borrowing rates and liquidity pools used to calculate the projected yield.
FLEX & FINO marks the first product launched under the strategic partnership between FinChain and Plume. The companies said their work included technical integration, strategy modelling and risk controls.
Separately, FinChain has completed an integration with cryptocurrency exchange KuCoin, allowing FUSD to participate in its RCMS staking mirror solution.

Republican Andy Barr defeated Democrat Charles Booker in Kentucky’s U.S. Senate race, giving the crypto industry another lawmaker with a record of supporting digital asset legislation.
Barr voted in favour of both the CLARITY Act and GENIUS Act in the House in July 2025. Fairshake-linked PACs reportedly spent more than $7 million supporting his Republican primary campaign.
Republican Andy Barr has won Kentucky’s U.S. Senate race, defeating Democrat Charles Booker and securing another potential ally for the cryptocurrency industry in Congress. With 55% vote, Barr will replace longtime Republican Senator Mitch McConnell, who is leaving the Senate after more than four decades representing Kentucky.
Source: Kentucky State Board of Elections
Barr’s victory follows a campaign in which crypto-backed political groups played a significant role in supporting his political rise. Fairshake and its affiliated political action committees (PACs) reportedly spent more than $7 million backing Barr during the Republican primary, helping him secure the party’s nomination. The spending was part of a wider effort by the crypto industry to support candidates viewed as favourable to digital asset regulation.
The industry’s support reflects Barr’s voting record on two major crypto bills passed by the House in 2025.
Barr backed major crypto legislation
Barr voted in favour of the Digital Asset Market Clarity Act, commonly known as the CLARITY Act, which aims to establish a clearer regulatory framework for digital assets and define oversight responsibilities between federal regulators.
He also supported the GENIUS Act, legislation establishing a federal framework for payment stablecoins. The House passed both measures on July 17, 2025, with Barr voting in favour of each bill.
His election gives the crypto sector another lawmaker with a record of supporting legislation intended to provide clearer rules for the industry. However, his victory does not guarantee that future crypto bills will pass through Congress.
The election also comes as digital asset companies and industry-backed PACs have increased their political spending ahead of the 2026 midterms. Fairshake has been among the largest players in that effort, backing candidates from both parties who support crypto-friendly policies.
Barr’s move from the House to the Senate will put him in a position to take part in future debates over digital asset market structure, stablecoin rules and the wider regulation of the U.S. crypto industry.

Hong Kong plans to introduce tokenised gold for interbank transactions, with each digital token representing a physical 400-ounce (12.4-kg) gold bar.
The project will use HAU as its gold pricing reference and build on the HKMA’s Project Ensemble framework.
Hong Kong is preparing to introduce a tokenized gold project that will allow banks to conduct transactions using digital tokens representing physical gold bars weighing 400 troy ounces, or approximately 12.44 kilograms.
Christopher Hui, the city’s Secretary for Financial Services and the Treasury, announced the plan on November 2 during Hong Kong FinTech Week 2026. He said the interbank tokenized gold transaction project would start soon, although officials have not provided a specific launch date.
The proposed token will use HAU, Hong Kong’s gold price reference, to determine the value of the underlying bullion. Tokenized bank deposits will also be used to support transactions between participating financial institutions.
(Source: Hong Kong Government)
The project will build on the Hong Kong Monetary Authority’s (HKMA) Project Ensemble, an initiative launched in 2024 to test the use of tokenized money and digital assets in financial transactions.
Project Builds on Hong Kong’s Digital Settlement Plans
The announcement comes as Hong Kong expands its infrastructure for tokenized financial assets. On November 2, the HKMA said its EnsembleTX pilot had moved to 24-hour settlement of tokenized deposit transactions using tokenized central bank money.
The pilot now includes 12 participating banks and 20 industry pioneers. The expanded system allows institutions to settle transactions outside conventional banking hours.
However, the gold-token project and the 24-hour settlement upgrade are separate announcements under the broader Project Ensemble framework.
Hong Kong has also been developing its physical gold market. Its central gold clearing and settlement system began trial operations on July 7, 2026, with a formal launch targeted for the first quarter of 2027.
Officials have not yet disclosed the proposed gold token’s issuer, blockchain network, custody arrangements or whether it will be available to retail investors. The announcement currently focuses on transactions between financial institutions, rather than a product for individual buyers.

Binance is reopening withdrawals for 56 additional crypto assets across Ethereum and Solana as part of its sixth recovery phase following the $6.3 billion hack.
The latest update covers nine blockchain networks, including BNB Smart Chain, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
Binance is reopening withdrawals for additional cryptocurrencies across Ethereum, Solana and several other blockchain networks as the exchange continues restoring services following its October 29 security breach, which resulted in losses estimated at $6.3 billion.
In its sixth recovery update, published on November 3, the exchange said withdrawals for the newly listed assets would begin reopening at 04:00 UTC. The latest phase covers nine networks, including Ethereum (ETH), Solana (SOL), BNB Smart Chain (BSC), XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
The Ethereum withdrawal list includes ENA, USDE, PENDLE, WLD, SHIB, ONDO, LINK, ETHFI, JASMY, PUNDIX and several other tokens. On Solana, users will see assets such as PUMP, RENDER, RAY, TRUMP, PENGU, JUP, PYTH, BONK and WIF included in the reopening plan.
(Source: Binance X)
Binance also listed additional assets on BNB Smart Chain, including Bitcoin (BTC), Ethereum, XRP, Cardano (ADA), Dogecoin (DOGE) and Solana. The update also includes selected assets on the other supported networks.
Withdrawals to Resume in Phases
Binance said the listed assets would not become available simultaneously. The exchange will restore withdrawals progressively after completing security and readiness checks for each network and asset.
It added that deposits remain open and are not affected by the latest withdrawal restrictions. Users may experience delays or longer processing times during the rollout because of increased transaction traffic. The exchange advised customers to check individual withdrawal pages before transferring funds.
The latest move follows Binance’s initial withdrawal reopening on November 1, when selected networks and assets became available again.
Binance has also reiterated that it will bear the financial impact of the stolen funds rather than pass the losses on to users. The exchange said it would continue restoring services and adding assets as they complete the required checks.

Kim Yo Jong rejected the FBI’s claim that North Korea was behind the $6.3 billion Binance hack, calling the accusation “absurd rhetoric” and a political provocation.
The FBI attributed the October 29 attack to North Korea’s TraderTraitor group and urged crypto service providers to block transactions linked to the stolen funds.
Kim Yo Jong, the sister of North Korean leader Kim Jong Un, has rejected allegations that Pyongyang was behind the $6.3 billion hack of cryptocurrency exchange Binance, calling the FBI’s accusation “absurd rhetoric” and a political provocation.
In a statement carried by North Korea’s state news agency KCNA on Tuesday, November 3, Kim accused Washington of trying to portray the country as a “cyber criminal state” by repeatedly linking it to cyberattacks around the world.
She said the allegation was another attempt by the United States to damage North Korea’s international reputation. Kim also said Pyongyang was closely monitoring what she described as continued US provocations.
JUST IN: Kim Yo Jong, sister of North Korean leader Kim Jong Un, has denied North Korea’s involvement in the $6.3 billion Binance hack. She dismissed the FBI’s accusation linking the Binance attack to the North Korean hacking group TraderTraitor as "absurd rhetoric" and a "grave political provocation." The FBI attributed the $6.3 billion theft to North Korea over the weekend. #Binance #NorthKorea #BinanceHack
— TheNewsCrypto (@The_NewsCrypto) November 3, 2026
Her response came three days after the FBI publicly attributed the October 29 theft from Binance to North Korean hacking activity known as TraderTraitor.
FBI Warns Crypto Firms to Block Stolen Funds
In its October 31 advisory, the FBI said North Korea was responsible for stealing more than $6 billion in virtual assets from Binance. The agency identified TraderTraitor as the group behind the attack and said investigators had observed the hackers converting the stolen cryptocurrency primarily into Ethereum (ETH).
The FBI warned that the funds could be moved through decentralised finance (DeFi) platforms and instant cryptocurrency exchange services to make them harder to trace.
The agency also urged cryptocurrency exchanges, blockchain analytics firms and other digital asset service providers to block transactions involving wallet addresses connected to the theft. It published a list of associated addresses to help industry participants identify the funds.
The FBI’s attribution has not been accepted by Pyongyang, which has denied involvement. US President Donald Trump also said investigators were still examining the issue and that he did not know whether North Korea was responsible.
The dispute follows one of the largest reported cryptocurrency thefts, with investigators and industry participants continuing efforts to track the stolen assets.

RBI and FIU-IND are reportedly examining offshore crypto cards linked to Visa, Mastercard and RedotPay over potential FEMA and payment regulation violations.
Indian users have reported card deactivations, while RedotPay had already listed India as a restricted region in an August 2026 notice.
India’s Reserve Bank of India (RBI) and Financial Intelligence Unit-India (FIU-IND) are examining offshore crypto cards that allow residents to spend digital assets on everyday purchases and withdraw cash from ATMs, according to a November 2 report by The Economic Times.
The scrutiny centres on whether these cards comply with Indian payment regulations and the Foreign Exchange Management Act (FEMA). The report, citing two people familiar with the matter, said authorities are also understood to be in contact with Visa and Mastercard. Neither the RBI nor the payment networks confirmed the discussions.
The cards, offered by overseas fintech providers such as RedotPay, allow users to spend stablecoins and other cryptocurrencies through conventional payment networks. When a transaction takes place, the provider converts the required crypto balance into rupees, allowing merchants to receive payment like a regular card transaction.
Users have reportedly used these cards for online shopping, mobile recharges, flight bookings and ATM withdrawals. Some cards cost between $40 and $50 and carry a three-year validity, according to the report.
Several Indian users have also complained on social media that their cards stopped working in recent days. Access to some service providers’ websites has reportedly been restricted.
FEMA and Payment Authorisation Concerns
The scrutiny follows findings shared with authorities by Bengaluru-based Digital South Trust. The organisation obtained a virtual Visa-backed RedotPay card and carried out multiple domestic online transactions in August. Its founder, Sudhakar Lakshmanaraja, said the group documented how offshore card programmes could fund routine payments using cryptocurrencies and dollar-backed stablecoins. He also raised concerns about some programmes advertising limited or no KYC requirements.
Legal experts cited by The Economic Times said the arrangements could raise questions under FEMA and regulations governing prepaid payment instruments. Under RBI rules, entities operating prepaid payment systems in India generally require the necessary authorisation.
RedotPay had already listed India among the regions where residents were ineligible for its virtual and physical cards in a restriction notice dated August 28, 2026.
However, no public enforcement order specifically naming RedotPay, Visa or Mastercard has been announced. The reported scrutiny does not establish that any of the companies have violated Indian law.