Blockonomi

TLDR
Canada published draft stablecoin rules on October 24 that require one-to-one reserves held by Canadian custodians.
Holders could redeem coins within three business days, with fees capped at 1%.
Issuers could not pay interest for holding a coin, but rewards tied to using a coin would be allowed.
The Bank of Canada would supervise issuers, with fines of up to C$10 million for very serious violations.
Public comments are open until about December 23, and the rules are set to take effect in fall 2027.
Canada has published draft rules for companies that issue stablecoins. The proposal sets strict limits on reserves, redemptions and fees.
Stablecoins are crypto tokens built to hold a steady value, usually one U.S. dollar. The draft was published on October 24 in the Canada Gazette, the government’s official newspaper.
The rules also keep a ban on paying holders interest, also called yield. Ottawa has opened a 60-day comment period before the rules are finalized.
What the Draft Rules Require
Every stablecoin would need to be backed one-to-one by reserves. Those reserves are limited to cash, government debt maturing in three months or less, and money market funds holding only those assets.
The reserves must be held by a Canadian custodian in separate accounts. Creditors could not reach that money if the issuer went bankrupt.
Holders could redeem any amount of their coins within three business days. The redemption fee would be capped at 1%.
Issuers could not pay interest to people for simply holding a coin. They also could not route interest through third parties, including by sharing the issuer’s income.
Rewards tied to using a coin, rather than holding it, would still be allowed. Issuers could keep what their reserves earn, as long as reserves stay at least equal to the coins in circulation.
“These prohibitions are intended to distinguish stablecoins from financial products that compete directly with bank deposits or other interest-bearing instruments,” the government notice says.
Issuers could not describe a coin as a bank deposit. They also could not claim deposit insurance or a government guarantee.
Customer complaints would need to be acknowledged within seven days. They would need to be resolved within 30 days.
Oversight, Penalties and the U.S. Comparison
The Stablecoin Act became law on March 26, 2026, after Ottawa announced the plan in its November budget. The Bank of Canada will register and supervise issuers.
Penalties would reach C$1 million for serious violations. Very serious violations, such as failing to hold enough reserves or redeem at full value, could bring fines of up to C$10 million.
The notice expects five issuers to fall under the rules. About 30 more payment companies, including crypto platforms that hold customers’ coins in wallets, would also come under Bank of Canada oversight.
In the United States, President Donald Trump signed the GENIUS Act on July 18, 2025. That law also bars stablecoin issuers from paying holders interest.
Since then, the U.S. debate has focused on whether crypto platforms can offer yield to users. Banks oppose this, saying deposits could move toward crypto.
The dispute helped lead to the failure of the Clarity Act in the Senate. Banks said the bill did not close what they called a loophole that lets platforms such as Coinbase offer yield on USDC held in customer accounts.
Ottawa is accepting comments until roughly December 23. The government said it intends for the rules to take effect in fall 2027.
The post Canada Draft Stablecoin Rules Cap Redemption Fees at 1% and Ban Yield appeared first on Blockonomi.

TLDR
GraniteShares filed an amendment with the SEC on October 26 to delay its leveraged XRP ETFs until November 30, 2026.
The filing covers the 3x Long and 3x Short XRP Daily ETFs, plus leveraged Bitcoin, Ethereum, and Solana funds.
The amendment gives no reason for the delay and does not mention the US midterm elections.
The filing came days before the November 3 midterms, where control of Congress is at stake.
Investors must now wait to see if the registration takes effect on the new date.
The launch date for a group of leveraged XRP exchange-traded funds has been pushed back. GraniteShares ETF Trust filed an amendment with the US Securities and Exchange Commission (SEC) on October 26, 2026.
The filing sets a new effective date of November 30, 2026. Investors waiting for new products tied to Ripple’s XRP will now have to wait longer.
What the GraniteShares Filing Says
The document is a post-effective amendment. It states that its only purpose is to delay the effective date of an earlier change to the fund registration.
The registration covers several crypto products. These include the GraniteShares 3x Long XRP Daily ETF and the GraniteShares 3x Short XRP Daily ETF.
The same filing also includes leveraged funds tied to Bitcoin, Ethereum, and Solana. All of these products are affected by the new date.
The amendment uses November 30 as the proposed effective date under Rule 485(b) of the Securities Act of 1933. This rule covers how certain fund registration changes take effect.
The filing does not explain why the date was moved. It also makes no mention of the upcoming US midterm elections.
GraniteShares ETF Trust President William Rhind signed the amendment on October 26.
GraniteShares has pushed the effective date for its 3x Long and 3x Short XRP, Bitcoin, Ether and Solana ETFs to November 30, 2026, per a new SEC filing.
Do you expect these to launch on the new date? pic.twitter.com/g460WoStQ0
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) October 26, 2026
Midterm Elections Raise Questions
The filing arrived just days before the November 3 US midterm elections. Some market watchers have asked whether political uncertainty is affecting regulatory timelines.
Republicans currently hold a 218-214 majority in the House of Representatives. They also lead the Senate 53-47.
Democrats are trying to win control of both chambers. The elections are also seen as a test of President Donald Trump’s administration.
The results could affect how lawmakers handle cryptocurrency regulation. Both parties are competing hard for control of Congress.
Spending on the races has been high. AdImpact reported on October 12 that more than $3.8 billion had been spent on aired political ads.
Economic concerns and voter sentiment are among the main issues driving the contests.
Still, there is no evidence in the filing that the election played any role in the delay. The decision appears to be separate from the election calendar.
For now, the leveraged XRP, Bitcoin, Ethereum, and Solana funds remain on hold. Investors will be watching to see whether the registration takes effect on November 30.
The post XRP Investors Must Wait Longer as Leveraged ETF Launch Slips to November 30 appeared first on Blockonomi.

TLDR
Hackers who breached Keystone’s website also stole a key used to verify its hardware wallets as genuine.
The stolen key could let attackers make fake wallets that pass Keystone’s authenticity checks.
Keystone will destroy 18,835 devices with the compromised key and has paused shipments.
Up to 25,964 buyer records from 2024 to 2026 may have been stolen after a data deletion tool failed.
Devices delivered before Oct. 20 are considered safe, but Keystone cannot guarantee devices delivered after that date.
Hardware wallet maker Keystone said hackers who breached its website last week also stole a key used to verify that its devices are genuine. The company first described the incident as a customer data leak.
In a statement Monday, Keystone said the stolen authentication key could let attackers build fake wallets that pass its authenticity checks.
“These devices could then be sold or shipped to customers, who might unknowingly use them as genuine products, potentially resulting in asset theft,” Keystone said.
How the Attacker Got In
Keystone said the attacker used a flaw in a third-party monitoring tool on its website to gain higher access privileges.
“This enabled the attacker to obtain some customer information and a key used to verify the authenticity of our devices,” the company said.
Keystone plans to destroy 18,835 devices in its inventory that contain the compromised key. It has also paused shipments of all devices that use it.
Shipments will restart once the company begins making devices with a new authentication key.
Customer Records Exposed
Keystone said its Shopify store had created 51,083 buyer records. Of those, 25,119 had been deleted under its 180-day data retention policy.
The remaining 25,964 records, dating from 2024 to 2026, may have been stolen. Keystone said these older records were kept because an automated deletion tool failed.
“The tool did not operate reliably. Some erasure tasks failed, and we did not detect and address these failures in time, resulting in certain personal information being retained beyond the permitted period,” Keystone said.
The attacker may also have accessed 12,873 checkout records held by Shopify. These records come from purchases that were never completed.
Keystone said it has asked Shopify to delete personal information in checkout records kept for more than 30 days.
The breach is one of several attacks on hardware wallet makers this year. Earlier this month, Ledger asked resellers in Southeast Asia and Hong Kong to stop sales. This followed reports that devices sold there had unauthorized implants that could capture recovery phrases.
In late July, Coldcard maker Coinkite warned users after attackers exploited a bug. The bug caused devices to create wallet seeds with less randomness than intended, and millions of dollars in crypto were stolen.
In August, Trezor disclosed a breach at its shipping partner. The number of affected users grew to more than 80,000 in September.
SafePal reported an order-tracking flaw in August that exposed data from nearly 40,000 customers. BitBox was targeted in a September phishing campaign tied to a compromised third-party email provider.
The Keystone incident is similar to a June 2020 Ledger breach. That leak exposed more than 1 million email addresses along with names, phone numbers and home addresses, which fueled years of phishing attempts.
Keystone said devices made and delivered before the Oct. 20 incident should be considered safe. Their authenticity checks remain trustworthy.
However, the company said it cannot guarantee devices delivered after that date. It urged affected customers to contact its support team for extra verification.
The post Fake Crypto Wallets Could Pass Checks After Keystone Hack appeared first on Blockonomi.

TLDR
Wallets tied to Arbistar moved more than 20,000 bitcoin between January and March 2021.
The transfers were worth over $1.1 billion at the time and about $1.6 billion today.
About 881 bitcoin was sent to outside wallets as the platform collapsed in September 2020.
Arbistar affected up to 32,000 investors and promised weekly returns of about 28%.
Founder Santiago Fuentes Jover was sentenced to 16 years in prison.
Spanish police say digital wallets tied to the failed crypto platform Arbistar moved more than 20,000 bitcoin after the company collapsed. The transfers were worth over $1.1 billion at the time.
The findings come from a new Guardia Civil report, according to Teneriffa News. The report adds new details to Spain’s long-running case against the platform.
How the Arbistar Scheme Fell Apart
Arbistar was run by its parent company, Arbicorp, from southern Tenerife. In September 2020, the firm suddenly froze investor accounts.
The company blamed a “failure” in its automated crypto trading bots. Before the freeze, it had promised investors weekly returns of around 28%.
Once the accounts were frozen, investors could no longer access their funds. Many had joined believing the bots would trade crypto for steady profits.
The scheme drew in victims across 30 Spanish provinces. It also reached investors in Mexico, Venezuela, France and Andorra.
Spanish authorities later classified Arbistar as a pyramid scheme. They said it affected up to 32,000 investors.
Early estimates put damages between $111 million and more than $220 million. In 2020, Spanish prosecutors also said roughly $1 billion in investor funds was unaccounted for.
Bitcoin Transfers Under Investigation
The new Guardia Civil report shows how digital assets were moved to hide the trail of funds. Investigators found that about 881 bitcoin was sent to outside wallets as the platform collapsed in September 2020.
Much larger transfers followed months later. Between January and March 2021, wallets linked to key defendants recorded inflows and outflows totaling more than 20,000 bitcoin.
Those coins were worth more than $1.1 billion based on Bitcoin’s price on March 31, 2021. The same amount would be worth about $1.6 billion today.
Authorities said the funds went to people within the administrators’ inner circle. They said there was no legitimate business reason for the transfers, which points to an effort to hide assets.
The money tracing is running alongside criminal cases that have already reached the platform’s leaders. Founder Santiago Fuentes Jover and partner Diego Fernández Nojarova were prosecuted for aggravated fraud.
They also faced charges of document falsification and membership in a criminal organization. Both were sentenced after their initial trials.
The Appeals Chamber of Spain’s Audiencia Nacional later increased their prison terms. Fuentes received 16 years, while Fernández Nojarova received 11 years.
Several people have now been formally named in an ongoing money-laundering probe. Spanish authorities say they are still working to track the full crypto network tied to the defunct Tenerife company.
The post Spain Continues Money Laundering Probe Into Arbistar Bitcoin Wallets appeared first on Blockonomi.

TLDR
Solana cut its block time from 0.42 seconds to 0.21 seconds in four steps between Aug. 21 and Oct. 9.
The network had no halts in the 361 days checked, and skipped blocks fell from 0.23% to 0.05% of slots.
A typical swap still costs about a tenth of a cent in network fees.
Staking rewards now arrive every 26 hours instead of every 51 hours.
Bitquery data shows memecoin sniper and sandwich bots kept the same pace when measured in seconds.
Solana now produces a block about every 0.21 seconds, half the 0.42 seconds it took in early August. The change rolled out in four steps over seven weeks, according to data from blockchain analytics firm Bitquery.
The network did not stop once during the 361 days Bitquery checked. But data on memecoin trading shows that the fastest bots did not lose any speed.
How Solana Cut Its Block Time
The change came through a formal proposal called SIMD-0525. Validators, the computers that run Solana, switched it on in four steps that moved the slot target from 400 milliseconds to 200 milliseconds.
The steps began on Aug. 21, Aug. 28, Sept. 18 and Oct. 9. Developers could pause between steps if too many blocks went missing.
The Solana Foundation said the goals were shorter waits for users and less time for any single validator to control which transactions get into a block.
Solana now makes about 407,000 blocks per day, up from 206,000. Each block holds less, about 95 swaps compared with 149 before, so the network handles about the same amount of work per second.
Skipped blocks, where a validator produces nothing during its turn, fell from 0.23% of slots to 0.05%. The longest gap between two blocks was under 5 seconds.
A typical swap by an ordinary wallet still paid about a tenth of a cent in network fees. The average fee fell from 2.7 cents in November to about 1 cent in October.
Stakers now receive rewards every 26 hours instead of every 51 hours. The yearly reward rate stayed the same.
Memecoin Bots Kept Their Pace
Bitquery also tracked sniping on Pump.fun, the site where most new Solana memecoins launch. Sniping means racing to buy a token in its first moments.
The share of new coins bought by an outside wallet in their first block fell from 42% to 32%. But the first block also got shorter, lasting about 0.27 seconds in the later sample compared with 0.42 seconds before.
Measured over roughly 1.3 seconds, the share barely moved. About 53% of new coins received an outside buy in that window before the change, compared with 52% after.
An outside wallet means any wallet other than the coin’s first buyer. Bitquery said the measure does not prove every early buyer was a bot.
Sandwich attacks also continued. In a sandwich, a bot buys just before another trader’s swap and sells right after at the higher price that swap created.
Bitquery counted about 30 sandwich patterns per 10,000 swaps in early August. The rate dropped to 21 in early September, then rose to 33 between Sept. 19 and Oct. 7.
Both bot comparisons end Oct. 7, so they do not cover the final step to 200 milliseconds on Oct. 9.
The public Solana node measured actual slot times of 212 milliseconds between Oct. 22 and Oct. 25. Bitquery’s figures were verified on Oct. 26, with Solana trading near $99.54, down about 20% over 30 days.
The post Solana Cuts Block Time to 0.21 Seconds With No Network Outage appeared first on Blockonomi.

TLDR
Ripple has received final approval from the U.S. Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank.
The process began with conditional approval on December 12, 2025.
The bank will manage RLUSD’s segregated reserves, act as collateral trustee, and offer digital asset custody.
RLUSD will still be issued by Standard Custody & Trust Company under New York state regulation.
RLUSD had about $2.38 billion in circulation and $2.53 billion in reserves as of October 22, 2026.
Ripple has received final approval from the U.S. Office of the Comptroller of the Currency to launch Ripple National Trust Bank. CEO Brad Garlinghouse shared the news ahead of the company’s Ripple Swell event.
The approval ends a regulatory process that started in December 2025. The new charter puts the company’s RLUSD stablecoin reserves and its digital asset custody services under federal supervision.
“For years, we’ve said crypto and banks work better together. Final approval for Ripple National Trust Bank is what that looks like in practice,” Garlinghouse said.
He said the company has spent more than a decade building regulated financial infrastructure for institutions. He added that the charter gives a stronger base for Ripple’s stablecoin, payments, custody, and capital markets work.
“The revolution isn’t happening outside the system. It’s happening from within it,” Garlinghouse wrote on social media.
The OCC granted conditional approval for the trust bank on December 12, 2025. That decision required Ripple to meet more regulatory and operational conditions before it could begin business.
BREAKING: Ripple $XRP receives FINAL OCC approval for Ripple National Trust Bank.
FED master account next?
Send it to $5 with haste! pic.twitter.com/am3n6fACQz
— Crypto Rover (@cryptorover) October 27, 2026
What the Bank Will Do for RLUSD
The bank is approved to manage RLUSD’s segregated reserves. It will also act as a collateral trustee for RLUSD holders and offer fiduciary digital asset custody services.
RLUSD will still be issued by Standard Custody & Trust Company. That firm is a limited-purpose trust company regulated by the New York State Department of Financial Services.
The national trust bank adds a federal layer of oversight on top of that state regulation. The issuer’s role does not change.
BNY remains the primary reserve custodian for RLUSD. The new bank’s reserve role will work within this existing setup, so reserve assets are not expected to move all at once.
Ripple publishes monthly reserve reports based on independent third-party attestations. Its dashboard showed about $2.38 billion in circulating RLUSD and $2.53 billion in reserves as of October 22, 2026.
The company’s October 26 announcement put RLUSD’s market value at about $2.5 billion.
Custody Services for Institutions
A national trust bank is not a regular retail bank. It focuses on fiduciary and custody work rather than taking consumer deposits or making loans.
The custody services are aimed at banks, investment firms, payment providers, and corporate treasuries. These groups often need custody setups that meet strict compliance and governance rules.
The approval does not create new client partnerships on its own. It also does not guarantee more demand for Ripple’s services.
The decision follows the GENIUS Act, signed into law in July 2025. That law created a federal framework for payment stablecoins in the United States.
The OCC has also encouraged community banks to apply to become permitted payment stablecoin issuers under the law.
Ripple said it will continue working with the OCC, the New York State Department of Financial Services, and other regulators as the new bank moves toward opening.
The post Ripple Gets Final OCC Approval for National Trust Bank appeared first on Blockonomi.

TLDR
South Korea is considering an education tax on crypto exchanges if they are reclassified as financial businesses under the Digital Asset Basic Act.
Upbit operator Dunamu could owe about 10.2 billion won a year, while Bithumb could owe about 3.2 billion won.
The tax is based on revenue, not profit, at 0.5% up to 1 trillion won and 1% above that.
No final decision has been made, and the Digital Asset Basic Act still has no submission date.
A separate 22% tax on crypto gains, set for 2027, may be delayed to 2029.
South Korea is considering a new education tax on cryptocurrency exchanges. The tax would apply if exchanges are reclassified as financial businesses under the proposed Digital Asset Basic Act.
Government officials raised the idea in a recent meeting with chief executives of domestic crypto exchanges, according to an October 26 report by Seoul Economic Daily. No final decision has been made.
A senior government official said that if exchanges move into the financial and insurance category, the education tax issue would need to be addressed. The official noted that when the crypto business was designed in 2018, it was not placed within the financial industry.
How the Education Tax Works
Crypto trading and brokerage in South Korea are currently classified as information and communications businesses. Because of this, exchanges do not pay the education tax that banks, insurers, and securities firms pay.
The tax is based on operating revenue, not profit. Financial firms pay 0.5% on taxable revenue up to 1 trillion won and 1% on amounts above that. A company must pay even if it reports a loss.
The rate on revenue above 1 trillion won doubled this year from 0.5% to 1%. The five largest banks paid about 260 billion won in the first half of last year and are expected to pay around 480 billion won in the first half of this year.
Estimated Costs for Upbit and Bithumb
Seoul Economic Daily reviewed 2025 reports from the country’s five largest exchanges. Dunamu, which operates Upbit, posted 1.5212 trillion won in operating revenue. Bithumb followed with about 651.3 billion won.
Coinone reported 45.4 billion won, DigitalX reported 9.7 billion won, and Gopax reported 4.3 billion won.
Using current rates, Dunamu could pay about 10.2 billion won a year in education tax. Bithumb’s bill could reach about 3.2 billion won.
These estimates assume exchanges become education taxpayers and that trading fees become exempt from value-added tax. Interest, dividends, and other separately taxed revenue were not included.
If trading fees become VAT-exempt, costs for users could fall. Exchanges could also cut fee discounts or raise rates to cover the new tax.
Kim Kyung-ho, head of the digital asset center at Deloitte Anjin, said the math could get complicated because fee competition among exchanges has been intense.
One industry official said there is little connection between crypto trading and education. The official called for an overhaul of the education tax on the whole financial sector.
The Digital Asset Basic Act is still under discussion. Financial Services Commission Chairman Lee Eog-weon told lawmakers on October 22 that government talks on the bill were nearing completion, but no submission date has been set.
Open questions include how exchanges will be licensed and supervised. Officials are also still deciding which institutions can issue won-based stablecoins.
The education tax is separate from a planned 22% tax on annual crypto gains above 2.5 million won. That tax is set to begin on January 1, 2027, but the presidential office has backed a delay, and ruling-party lawmakers have proposed moving it to 2029.
Exchanges also face new reporting rules. The revised Foreign Exchange Transactions Act takes effect on December 3 and requires exchanges to report cross-border crypto transfers.
A Bank of Korea official said the bank is consulting with the Ministry of Finance and Economy on narrowing the reporting scope. The bank plans to finalize the details in November.
The post South Korea Crypto Tax Plan Could Cost Upbit Billions of Won Each Year appeared first on Blockonomi.

TLDR
BlackRock signed a memorandum of understanding with SBI Holdings and Startale Group.
The companies will explore linking tokenized money market funds with SBI’s yen-pegged stablecoin JPYSC.
The work will cover technology, distribution, and regulation and market development.
JPYSC launched in June as Japan’s first trust bank-backed yen stablecoin.
The firms may bring in more partners to grow on-chain finance in Japan and abroad.
BlackRock has signed a memorandum of understanding with SBI Holdings and Startale Group. The companies will explore connecting tokenized money market funds with JPYSC, a stablecoin pegged to the Japanese yen.
SBI Holdings is a long-time partner of Ripple. The agreement was announced on October 27 in a release from SBI Group.
What the BlackRock and SBI Agreement Covers
BlackRock Financial Management and BlackRock Japan signed the agreement. The deal combines the asset manager’s fund business with SBI’s financial services and Startale’s blockchain infrastructure.
The companies will study linking tokenized money market funds and JPYSC in three areas. These are technology and infrastructure, business and distribution, and regulation and market development.
A money market fund invests in short-term, low-risk assets. A tokenized version of the fund exists on a blockchain, which allows it to be moved and settled digitally.
The agreement is a memorandum of understanding. This means the companies have agreed to explore the idea, not launch a product yet.
The firms also said they may work with other partners. The goal is to support the growth of on-chain finance in Japan and in other markets.
What Executives Said About Tokenization
Yukiko Hashimoto, president of BlackRock Japan, said advances in digital assets, including tokenization, are opening up new possibilities for financial markets. “At BlackRock, we believe these innovations can help advance financial markets and deliver new value to investors in Japan,” Hashimoto said.
Jonathan Steel, a managing director at BlackRock Financial Management, said the work with SBI reflects a shared commitment. He said both sides want to connect traditional finance with digital asset systems.
Yoshitaka Kitao, chairman and president of SBI Holdings, said the shift to on-chain finance is “becoming an unavoidable global trend.”
“If Japan is to lead this transformation rather than fall behind, we must prepare early and build the foundations for the next generation of financial markets,” Kitao said.
SBI launched JPYSC with Startale in June of this year. It was Japan’s first yen stablecoin backed by a trust bank.
SBI Shinsei Trust Bank manages the issuance of the stablecoin. SBI VC Trade, a licensed crypto exchange, handles distribution.
SBI also works with Ripple in Japan. Ripple chose SBI Group to launch its RLUSD stablecoin in the country through SBI VC Trade.
In a separate effort, SBI and Startale joined the Open Standard alliance. Through that group, they are exploring how JPYSC can work with the OUSD stablecoin.
Interest in tokenized real-world assets, including money market funds, has grown as digital asset rules develop in several countries. Firms are building systems that combine tokenized assets with stablecoins, which also require custody services to protect fund reserves.
SBI and Startale said the agreement with BlackRock is meant to support the development of on-chain finance in Japan and around the world. The announcement did not include a launch date for any product.
The post BlackRock Japan Explores Yen Stablecoin JPYSC With SBI and Startale appeared first on Blockonomi.

TLDR
Mizuho cut its price target on Circle to $43 from $45 and kept an Underperform rating.
The bank sees a 10% to 20% medium-term risk to Circle’s reserve revenue from AI agents.
AI agents may steer USDC holders toward higher-yielding fiat products or other platforms.
Faster AI adoption could shrink USDC’s market cap by up to $9 billion.
Circle shares closed down 7% at $79.84 on Monday.
Mizuho has lowered its price target for Circle Internet Group, the company behind the USDC stablecoin. The new target is $43, down from $45.
The bank kept its Underperform rating on the stock. Analysts shared the call in a research report on Monday.
The main concern is the rise of AI personal assistants. “We believe AI personal assistant engines pose a marked risk to Circle’s medium-term revenue,” the analysts wrote.
How AI Agents Could Affect USDC
Mizuho estimated that wider use of AI agents could cut USDC’s market value by $4 billion to $9 billion. That would lower the reserve revenue Circle earns on the assets backing the stablecoin.
The bank put the medium-term risk to reserve revenue at 10% to 20%. It said AI agents may guide USDC holders toward higher-yielding fiat options or other platforms.
Mizuho ran a simulation using AI agents, including one called Muse. The agents tended to recommend moving away from USDC toward FDIC-insured savings accounts, such as those offered by SoFi.
Even when users wanted to stay in crypto, the agents “seem to prefer other platforms” over holding USDC directly with Circle, the report said.
As of the second quarter, about 17% of USDC sat on Circle’s own platform, where holders earn no yield. About 30% was held on Coinbase, and the other 53% was spread across other platforms.
Under a faster AI adoption scenario, Mizuho expects about $7 billion could move into fiat products. Another $2 billion could shift to higher-yielding stablecoins.
Together, those moves would shrink USDC’s market cap by up to $9 billion. Circle’s reserve revenue would fall by 18% in that case.
Mizuho Lowers Its Forecasts
The analysts cut their forecast for average USDC in circulation in 2027 to $101 billion from $108 billion. This assumes wider AI adoption.
That change lowers projected reserve revenue by 5% to $4.1 billion, down from $4.3 billion. The bank also trimmed its adjusted EBITDA forecast by about 5% to $603 million from $635 million.
Earlier this month, Circle reported about $1.4 billion in revenue for the first half of 2026. The company said it kept roughly 7 cents in net profit for every dollar of revenue.
USDC settled more than $36 trillion in onchain transactions during the first half of the year. By June, it made up about 77% of all global stablecoin transaction volume, up from 60% a year earlier, according to an Oct. 16 Circle blog post.
Circle’s shares closed down 7% at $79.84 on Monday. Mizuho’s $43 target implies a 46% drop from that level.
The post Circle Stock Falls 7% as Mizuho Flags AI Threat to USDC Stablecoin appeared first on Blockonomi.

TLDR:
Zcash allocates 20% of block rewards to the Dev Fund, while miners receive the remaining 80% of ZEC.
Grayscale’s Zach Pandl says most blockchains depend on venture capital or other private funding.
Zcash added the Sprout, Sapling, Orchard and Ironwood privacy pools, each backed by protocol funding.
The 2026 Ironwood pool added quantum-recoverable addresses and formal verification to fix a code flaw.
Zcash developer funding has become a central talking point as the privacy-focused network approaches its 10th anniversary on October 28.
Grayscale, a digital asset manager, credits the protocol’s 20% block reward allocation for supporting continuous research and development.
Zach Pandl, the firm’s Head of Research, outlined the point in a new research note published this week. According to the note, Zcash kept evolving through extended bear markets and periods when ZEC lagged other cryptocurrencies.
How Zcash Developer Funding Works
On the Bitcoin blockchain, miners receive 100% of BTC rewards in each block. Zcash follows a different model. Miners earn 80% of ZEC rewards, while the remaining 20% goes to the Dev Fund. Miners therefore receive a smaller share of each block reward on Zcash.
The Dev Fund is a pool of capital. It supports Zcash development and related ecosystem initiatives. Pandl noted that most blockchains rely on venture capital or other private funding. Grayscale published the research note under the title How Zcash Keeps Innovating.
In contrast, Pandl described Zcash as “one of the few networks to build ecosystem funding directly into the protocol.” He also credited that structure for the network’s progress.
Pandl wrote: “One important reason behind this continuous innovation has been the protocol’s consistent financial support for R&D.”
Grayscale describes Zcash as a Bitcoin-like digital currency with additional privacy features. The network turns 10 years old this week, on October 28.
Zcash developer funding remains part of the protocol design. The pools that provide those privacy features have changed over time.
Zcash Developer Funding and Network Upgrades
One clear example of innovation is the introduction of new privacy pools. These pools form the structure that gives Zcash its privacy features. The network launched with the Sprout pool. Pandl presented the pool timeline in Exhibit 1 of the note.
Next, the Sapling and Orchard pools arrived in 2018 and 2022, respectively. Ironwood followed in 2026 as the newest pool in the sequence.
It launched in order to address a code vulnerability. Grayscale links the Ironwood launch directly to that security issue.
Ironwood added quantum-recoverable addresses and formal verification. Formal verification refers to mathematical proofs for specific properties of the code. Pandl stated that protocol-based funding supported each of these initiatives.
Looking ahead, Grayscale expects Zcash to keep innovating. “We hope and expect that Zcash will continue to innovate,” Pandl wrote.
The firm points to scaling transaction capacity, preparing for a post-quantum future, and protecting against AI-powered cybersecurity risks.
Pandl added that this will likely require “ongoing financial support for developers from a variety of sources.” The note also stresses efficient allocation of Zcash developer funding. Its key takeaway states that a “culture of innovation may help Zcash stay prepared for a post-quantum future.”
The post Zcash Developer Funding Fuels a Decade of Innovation, Says Grayscale appeared first on Blockonomi.

TLDR
Samsung Wallet is adding cross-border USDC transfers, with the rollout set to begin in the final week of October 2026.
The feature comes from a partnership between Samsung and the Solana Foundation, with Solana providing the blockchain infrastructure.
The service is intended for Samsung Wallet on 82 million US Galaxy devices, a figure that reflects possible reach, not active users.
Fiat on-ramps and off-ramps will convert between USDC and local money, so users do not need to manage network fees or token addresses.
Key measures to watch include transfer completion rates, fees, payout speed and how failed transfers are handled.
Samsung Wallet is set to start offering cross-border USDC transfers to eligible users in the United States. The rollout is scheduled to begin during the final week of October 2026.
The feature comes from a partnership between Samsung and the Solana Foundation. The two groups announced that the Solana blockchain would power the new transfer service.
USDC is a stablecoin, a digital token designed to hold a steady value tied to the US dollar. The new feature lets users send money across borders.
How the Samsung Wallet Feature Works
According to the announcement, users will see a wallet experience that looks familiar. They will not need to understand network fees or token addresses to send money.
Fiat on-ramps and off-ramps will handle the conversion between USDC and local money. This means users can start and end transfers with regular currency.
Solana will provide the blockchain system that runs underneath the app. The goal is to keep the technical parts hidden from everyday customers.
The feature is intended for Samsung Wallet on 82 million Galaxy devices in the United States. That number comes from the companies’ announcement.
However, the 82 million figure shows possible reach only. It is not a count of active stablecoin users or completed money transfers.
What Comes Next for the Rollout
Access to the feature may depend on several factors. These include the pace of the rollout, the user’s region and the payment services that support it.
With the launch window now here, attention is turning to how the service performs. Key measures include how many transfers are completed, how much they cost and how fast money arrives.
Another question is whether customers can fix problems when a transfer fails. Support for failed payments is part of how the service will be judged.
For people who follow Solana’s token, SOL, the launch adds a real-world use case for the network. But the report notes it does not prove that demand for the token will rise.
The report says a payments product succeeds when people use it again and again. Repeat transfers and good customer results are the main signs to watch.
Until now, those measures could not be tracked because the feature was not live. The rollout gives the first chance to see real usage.
As of October 27, 2026, the USDC transfer feature is scheduled to begin reaching eligible US Galaxy users before the end of the month.
The post Samsung Wallet Starts Solana USDC Transfers for US Galaxy Users appeared first on Blockonomi.

TLDR:
XRP gained 0.62% to $1.29 after Ripple secured final OCC approval for its national trust bank.
Ripple’s federally supervised trust bank will support RLUSD reserves and enterprise digital asset custody.
Santiment says large XRP wallets control 46.87 billion tokens, or 68.5% of the supply.
XRP needs to defend $1.25 and reclaim $1.30, with $1.50 marking stronger recovery confirmation.
XRP gained 0.62% to $1.29 over 24 hours, slightly outperforming the broader crypto market, according to CoinMarketCap.
The move followed the Office of the Comptroller of the Currency’s (OCC) final approval for Ripple National Trust Bank on October 26, 2026. Ripple CEO Brad Garlinghouse said the approval will support RLUSD and enterprise digital asset custody under federal supervision.
Meanwhile, Santiment reported that wallets holding at least 10 million XRP now control 46.87 billion tokens, representing approximately 68.5% of the supply. Traders are watching whether XRP can hold $1.25 support and break above $1.30 as the market approaches Ripple Swell.
XRP Price Gains Support From Ripple’s OCC Bank Approval
Ripple’s banking approval provides a fresh regulatory development for the company’s institutional business. The proposed trust bank will manage RLUSD stablecoin reserves and offer digital asset custody services to enterprise clients under federal oversight.
Garlinghouse welcomed the decision ahead of Ripple Swell, arguing that crypto companies and banks can operate together under clear accountability standards. The approval could strengthen confidence in Ripple’s ability to serve institutional clients within the regulated financial system.
Big news heading into @RippleSwell: the @USOCC has granted final approval for Ripple National Trust Bank.
This gives Ripple a federally supervised platform to support $RLUSD and provide digital asset custody to enterprises.
We’ve always said crypto and banks work better…
— Brad Garlinghouse (@bgarlinghouse) October 26, 2026
However, the development does not guarantee immediate demand for XRP. RLUSD and XRP serve different purposes within Ripple’s ecosystem, so greater adoption of Ripple’s stablecoin or custody services does not automatically translate into additional XRP purchases.
Market analyst Matthew Dixon sees the regulatory milestone as a potential catalyst for XRP sentiment. He is watching for the completion of the token’s correction and a sustained break above its descending trendline before considering another upward move.
XRP Whale Accumulation Signals Potential Recovery
Santiment reported that wallets holding at least 10 million XRP collectively control 46.87 billion tokens, or approximately 68.5% of the supply. This represents the highest concentration held by these wallets since November 2022.
The accumulation suggests that large holders have maintained or increased their exposure despite XRP trading near $1.29. Still, wallet concentration alone cannot confirm whether these holdings reflect fresh buying, long-term positioning, or assets held on behalf of other investors.
XRP Whales Now Control Most Supply Since 2022
Wallets holding at least 10M XRP now control 46.87B tokens. That represents roughly 68.5% of XRP’s supply, the highest share held by this group since November 2022.
The key signal is that these massive holders have kept… pic.twitter.com/YOvZB3pT08
— Santiment Intelligence (@SantimentData) October 26, 2026
The immediate price level to watch is $1.30, which Santiment identifies as a key pivot. A sustained move above $1.50 would provide stronger confirmation of recovery, particularly if whale balances continue growing.
On the downside, $1.25 remains an important support level. If XRP loses that level, the supplied market outlook identifies $1.05 as a potential downside target. Holding above $1.20 while whale accumulation persists would keep the bullish scenario in consideration.
The upcoming Ripple Swell conference could provide another sentiment catalyst, although conference-related expectations do not guarantee a price increase.
A break above the descending trendline would strengthen Dixon’s recovery scenario, while continued rejection could extend the correction.
For now, XRP faces improving regulatory sentiment and concentrated whale holdings, but price confirmation remains essential. The key question is whether buyers can push XRP above $1.30 and eventually reclaim $1.50 without losing support during another pullback.
The post Ripple Wins Final OCC Bank Approval as XRP Eyes $1.50 appeared first on Blockonomi.

TLDR:
Ethereum core developers delayed the Glamsterdam fork on Hoodi after a ChainSecurity report.
Gas already spent can return mid-transaction, which lets the gasleft() value rise during execution.
A failed sub-call can return gas, so an unreachable path runs and the transaction looks successful.
Developers will review contracts this week, and the fix may need coordination or specification changes.
The Glamsterdam fork on Ethereum’s Hoodi testnet has been delayed after ChainSecurity flagged compatibility risks in EIP-8037 and EIP-8038.
Core developers are now reviewing whether the upgrade specification needs changes. ChainSecurity has identified 13 real-world cases.
Why the Hoodi Fork Was Postponed
Ethereum researcher Toni Wahrstätter shared the update on X after core developers paused the rollout last week. The Glamsterdam fork had been planned for Hoodi as a testing step.
The delay followed a report from ChainSecurity on how EIP-8037 interacts with certain contracts. Developers spent the weekend assessing the scope, and Wahrstätter said the picture is now well understood.
Contracts that hardcode forwarded gas were already known to be affected by repricings. For example, state writes through SSTORE become more expensive under the new rules.
However, the latest finding involves a different issue. Some coding patterns rely on an invariant that EIP-8037 breaks.
In his post on X, Wahrstätter explained the new problem. He wrote, “Gas already spent can come back mid-tx, so gasleft() can go up.”
Last week, core devs had to delay forking the Hoodi testnet to Glamsterdam to study a report by @chain_security which revealed some problems with how EIP-8037 interacts with a few contracts.
Over the weekend, ppl tried to get a better picture of the impact and by now it's quite… https://t.co/3crN4HKS8d
— Toni Wahrstätter ⟠ (@nero_eth) October 26, 2026
Contracts that assume gas usage only moves downward may therefore behave in unexpected ways. As a result, code built around earlier gas behavior could fail once the change goes live.
ChainSecurity’s cases come from real-world contracts rather than theoretical examples. Because of this, developers are treating the findings as a practical compatibility concern for the upgrade. Accordingly, the Glamsterdam fork remains on hold while the review continues.
Three Gas Problems and the Next Steps
Wahrstätter described two problems tied to the broken invariant. In the first, a before-and-after gas counter underflows and the transaction reverts.
In the second, a failed sub-call hands gas back, so an unreachable path runs. The transaction then looks like it succeeded. Both outcomes stem from the same change in how gas is returned during a transaction.
A related but separate problem affects gas measurement. Contracts that compare GAS before and after a call may undercount usage.
This happens because the state gas reservoir is not visible during execution. Therefore, tools and contracts that track gas this way may report figures lower than actual usage.
Wahrstätter said the Hoodi delay “bought time but won’t resolve the issue.” The Glamsterdam fork delay gave contributors extra time to study each affected pattern.
This week, contributors plan to examine contracts closely and confirm that no case is missed. He wrote, “It’s now about deciding how to proceed.”
Resolution might only need coordination among dapps, core developers, auditors, and node operators. In the worst case, the specification itself would need changes.
Wahrstätter urged app developers and auditors to “check your contracts for issues with EIP-8037/EIP-8038, and report them.” He also asked readers to share the post with other app developers.
The post Ethereum Pauses Glamsterdam Hoodi Fork Over EIP-8037 and EIP-8038 Gas Risks appeared first on Blockonomi.

TLDR:
Payward plans to become the first CFTC-regulated deployer on Hyperliquid’s HIP-3* perpetual markets.
Bitnomial would deploy and clear the markets, while NinjaTrader Clearing would carry client accounts.
HIP-3* adds optional onchain allowlists for permissioned markets without affecting existing markets.
The initial HIP-3* version is live on testnet, with specifications still subject to change.
Payward, the parent company of Kraken, plans to become the first CFTC-regulated HIP-3* deployer on Hyperliquid.
The company intends to use the network as infrastructure for perpetual futures markets aimed at U.S. clients. Bitnomial, its CFTC-regulated exchange and clearinghouse, would act as the deployer.
The plan remains subject to regulatory approval. Hyperliquid announced the proposal alongside an optional allowlist feature for permissioned markets. The initial version is live on testnet, and its specifications may still change.
Payward Plans a Regulated Structure on Hyperliquid
Hyperliquid shared the announcement in a post on X. According to the post, Payward wants to be the first CFTC-regulated HIP-3* deployer on its markets.
The post described the network’s role in the plan. “Payward will use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US clients.” These contracts would be offered through regulated entities within the Payward group.
Payward, the parent company of Kraken, announced its intention to be the first CFTC-regulated deployer on HIP-3* markets. Payward will use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US clients. Subject to regulatory approval, Bitnomial,…
— Hyperliquid (@HyperliquidX) October 26, 2026
Bitnomial would hold the central role in the plan. The firm is a CFTC-regulated designated contract market and derivatives clearing organization.
If approved, it would act as the deployer. In that role, it would create, own, and administer the markets. Bitnomial would also clear and settle the contracts.
NinjaTrader Clearing would carry client accounts under the proposal. The firm is Payward’s CFTC-registered futures commission merchant.
That role also depends on approval. Each unit would operate within its own CFTC registration. As a result, the CFTC-regulated HIP-3* deployer structure splits market operation and client accounts between two regulated units.
Payward’s plan remains conditional. Each step depends on regulatory approval, and regulators have not yet approved the arrangement.
Until then, the CFTC-regulated HIP-3* deployer plan stays an intention rather than a live product. Hyperliquid framed the announcement around Payward’s stated intention.
How HIP-3* Changes Deployer Options
HIP-3* is a set of additional deployer functions. Hyperliquid said HIP-3 will support optional configuration for permissioned markets in a future network upgrade. Meanwhile, the name groups these new capabilities under one label.
Hyperliquid explained how activation works. “At its core, HIP-3* activation involves an onchain allowlist managed by the deployer or its sub-deployers.”
As a result, only approved participants could access a permissioned market. This gives a deployer a way to control who can trade on a given market.
Hyperliquid also addressed how the feature relates to existing markets. “The functionality is strictly additive to HIP-3; its use is optional and up to the deployer.”
Existing markets remain unchanged. Hyperliquid said HIP-3* gives deployers added functionality to operate consistent with applicable requirements.
The initial release is available on testnet. Specifications are preliminary and may change based on feedback. Hyperliquid described its position in broad terms. “Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system.”
Deployers, including a CFTC-regulated HIP-3* deployer, remain independent operators. They keep control and responsibility over their own deployments.
The post Kraken Parent Payward Plans to Become First CFTC-Regulated HIP-3* Deployer on Hyperliquid appeared first on Blockonomi.

TLDR
Amkor Q3 revenue reaches $1.99 billion as gross margin expands to 18.3% in 2026.
AMKR shares fall 6.34% in regular trading before gaining 3.23% after hours.
Amkor’s Q3 net income rises to $191 million, with EPS increasing to $0.76 per share.
Computing and automotive revenue set records despite softer communications demand.
Amkor forecasts up to $2 billion in Q4 sales and $2.5 billion in annual capex.
Amkor Technology (AMKR) reported third-quarter revenue of $1.99 billion as stronger margins supported higher earnings across its semiconductor business. The stock fell 6.34% to $36.81 during regular trading before rebounding 3.23% to $38.00 in after-hours trading. Record computing and automotive revenue supported quarterly results despite weaker communications demand.
Amkor Technology, Inc., AMKR
Amkor Technology Reports Higher Revenue and Operating Margins
Amkor generated $1.991 billion in net sales, compared with $1.898 billion in the second quarter. Revenue also exceeded the $1.987 billion recorded during the corresponding quarter of 2025. The modest annual increase accompanied stronger gains in operating profitability.
Gross profit reached $364 million, while gross margin improved to 18.3% from 16.8% in the previous quarter. The company reported a 14.3% gross margin one year earlier, marking a four-percentage-point improvement. This expansion reflected stronger profitability despite relatively flat annual revenue.
Operating income climbed to $225 million from $200 million in the preceding quarter and $159 million last year. Meanwhile, operating margin increased to 11.3%, compared with 10.5% sequentially and 8.0% annually. These results reflected improved earnings across Amkor’s semiconductor packaging and testing operations.
Amkor Net Income Climbs as Computing Demand Strengthens
Net income attributable to Amkor reached $191 million, compared with $174 million during the previous quarter. The company earned $127 million during the third quarter of 2025. Diluted earnings increased to $0.76 per share from $0.70 sequentially and $0.51 annually.
EBITDA climbed to $435 million from $400 million in the second quarter. The figure also exceeded the $340 million reported during the corresponding period last year. Amkor attributed its performance to stronger customer programs, improved margins, and expanding business commitments.
Computing and Automotive & Industrial operations delivered record revenue during the reporting period. However, the Communications segment experienced expected weakness, limiting overall sales growth. Stronger customer commitments also improved demand visibility and supported the company’s investment planning.
Amkor Sets Fourth Quarter Outlook and Capital Spending Plans
Amkor expects fourth-quarter revenue between $1.9 billion and $2.0 billion. The company projects gross margins between 18.0% and 19.0% during the period. This outlook indicates continued margin strength heading into the final quarter of 2026.
Management forecasts fourth-quarter net income between $160 million and $185 million. The range translates into diluted earnings of $0.65 to $0.75 per share. Amkor also updated its full-year capital expenditure forecast to approximately $2.5 billion.
At September’s end, Amkor held $2.4 billion in cash and short-term investments against $2.5 billion in debt. The company repurchased approximately $32 million in shares during the third quarter. It also paid a quarterly dividend of $0.08352 per share on September 22, with future payments requiring board approval.

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TLDR
CLS stock rebounds 9.17% after hours, reversing a 5.14% regular-session drop.
Celestica Q3 revenue surges 83% to $5.83 billion as cloud infrastructure expands.
Adjusted earnings jump 109% to $3.30 per share, with margins reaching 8.5%.
Celestica raises its 2026 revenue outlook to $21 billion and EPS to $11.55.
Celestica targets $40 billion in 2027 revenue as AI infrastructure demand grows.
Celestica Inc. (CLS) shares surged after hours Monday after the company reported an 83% jump in third-quarter revenue. Sales reached $5.83 billion, while adjusted earnings per share more than doubled. CLS gained 9.17% to $268.99 after regular trading ended, reversing an earlier decline.
Celestica Q3 Earnings Drive After-Hours Rebound
During regular trading, Celestica stock fell 5.14% to $246.65, shedding $13.36 before its earnings announcement. The subsequent rally followed results for the quarter ending September 30, 2026. Revenue climbed from $3.19 billion in the comparable 2025 quarter.
Adjusted earnings reached $3.30 per diluted share, compared with $1.58 in the prior-year quarter. Meanwhile, GAAP earnings increased to $3.26 per diluted share from $2.31 a year earlier. Adjusted earnings per share grew 109% year over year.
Celestica reported an 8.5% adjusted operating margin, up from 7.6% in the comparable quarter. However, its GAAP operating margin declined to 7.9% from 10.2% last year. A completed public offering raised $3.45 billion in gross proceeds.
Celestica Raises 2026 Revenue and Earnings Forecasts
Following the quarterly results, Celestica increased its full-year revenue outlook to $21 billion from $20.5 billion. It also raised its adjusted earnings forecast to $11.55 per share from $11.30. Management linked the increases to recent results and stronger fourth-quarter demand.
For the fourth quarter, the company projected revenue between $6.275 billion and $6.575 billion. It expects adjusted earnings of $3.37 to $3.57 per diluted share during that period. Its guidance assumes an 8.7% adjusted operating margin at the forecast midpoint.
Celestica reduced its 2026 free cash flow forecast to $460 million from $600 million. The company attributed the revision to working capital investments supporting faster expansion next year. Its previous forecast for a full-year adjusted operating margin of 8.4% remains unchanged.
AI Infrastructure Demand Supports 2027 Expansion Plans
Celestica expects 2027 revenue to reach $40 billion, representing 90% growth over its updated 2026 target. The company also forecasts adjusted earnings of $21.50 per share for next year. It targets a 9.0% adjusted operating margin, which would set another company record.
Celestica plans capital spending between $1.5 billion and $2 billion during 2027. Its growth strategy centers on equipment and infrastructure for large cloud operators and advanced AI developers. Management also indicated that customer demand projections for 2028 exceed current expectations for 2027.
Celestica operates two segments: Connectivity and Cloud Solutions, and Advanced Technology Solutions. Its cloud business includes networking, servers, and storage products, while other operations serve aerospace, healthcare, and manufacturing. The updated forecasts reflect greater capacity needs as customers expand their orders.

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TLDR
SpaceX (SPCX) stock falls 0.40% to $146.90 before a 0.30% after-hours rebound.
SpaceX secures $40 billion in GPU financing led by Apollo and Goldman Sachs.
Nvidia Vera Rubin chips will expand Grok computing and data center capacity.
SpaceX expects GPU leasing to begin in the first half of 2027 under its deal.
Rising debt costs and GPU depreciation put pressure on specialized cloud firms.
Space Exploration Technologies Corp. (SPCX) stock declined 0.40% to $146.90, shedding $0.59 before recovering 0.30% to $147.34 after hours. The decline came as SpaceX announced a $40 billion financing agreement to acquire Nvidia GPUs for its computing operations. The agreement will support Grok development and expand the company’s data center infrastructure through its xAI business.
Space Exploration Technologies Corp., SPCX
SpaceX Secures $40 Billion Financing for Nvidia GPUs
SpaceX arranged the financing through a master finance lease involving Apollo Global Management and Goldman Sachs. Apollo and Goldman Sachs led the financing commitments, while Goldman Sachs served as the structuring agent. Affiliates of BlackRock, Goldman Sachs Asset Management, and KKR also participated in the transaction.
Under the agreement, an Apollo-managed entity will purchase Nvidia Vera Rubin GPUs and related equipment for SpaceX. SpaceX will lease the hardware through separate tranches, with each lease lasting approximately five to 5.25 years. The company will make quarterly payments covering principal and a fixed annual financing rate.
The financing structure also requires rent equal to 5% of each tranche’s financed cost. SpaceX expects to complete the agreement before year-end, with equipment leasing scheduled to begin during the first half of 2027. The company described the arrangement as the largest committed GPU financing transaction to date.
Grok Expansion Drives SpaceX Data Center Investment
SpaceX plans to deploy the Nvidia processors across infrastructure supporting Grok and other xAI computing requirements. The equipment will provide additional capacity for training models and processing requests as computing demand expands. Furthermore, the investment supports terrestrial data center development alongside the company’s longer-term orbital computing plans.
SpaceX absorbed xAI in February, combining its space operations with the artificial intelligence business. The integration brought Grok development and computing infrastructure under the company’s broader investment strategy. Meanwhile, Starlink subscriptions and rocket launches continue generating revenue outside the data center business.
Moody’s assigned SpaceX a Baa1 investment-grade rating in June, strengthening its position in credit markets. Elon Musk subsequently warned that lenders had restricted financing access for companies dependent on AI data center revenue. He also predicted consolidation among specialized cloud providers facing tighter borrowing conditions.
AI Financing Pressures Raise Questions About GPU Economics
The SpaceX agreement follows a $36 billion structured financing transaction supporting GPU purchases for Anthropic. Apollo and Blackstone led that earlier arrangement, which involved Broadcom and equipment leasing commitments. Consequently, large technology infrastructure projects continue attracting financing despite growing concerns about hardware values.
CoreWeave illustrates the financial pressure facing specialized GPU cloud providers as borrowing costs increase. Its shares declined approximately 30% between September 30 and October 16, while its debt approached $50 billion. Meanwhile, its unsecured bonds yielded approximately 15% in mid-October, reflecting expensive financing conditions.
GPU depreciation presents another challenge because computing hardware can lose value before financing agreements expire. CoreWeave recorded nearly $1.4 billion in depreciation and amortization against approximately $2.6 billion in second-quarter revenue. Venture capitalist Chamath Palihapitiya also expects unused computing capacity and industry consolidation during 2027.

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TLDR
Vertex launches Sōl to connect tax reporting, audit records, and AI decisions.
VERX stock slides 1.49% to $15.16 following the launch of its Vertex Sōl platform.
Vertex Sōl gives tax teams greater control over AI recommendations and decisions.
A Vertex survey finds 81% demand full visibility before adopting compliance AI.
New tools link tax calculations, e-invoicing, reporting, and audit records.
Vertex, Inc. (VERX) has introduced Vertex Sōl, a new platform that connects tax compliance processes through artificial intelligence. The system combines tax decisions, regulatory intelligence, reporting, and audit records within a unified framework. Meanwhile, VERX stock fell 1.49% to $15.16, losing $0.23 after recovering from an intraday low near $14.87.
Vertex, Inc., VERX
The launch expands Vertex’s technology portfolio as businesses seek greater control over automated tax operations. Vertex Sōl connects compliance activities across individual transactions, from initial tax calculations through reporting and audits. Tax departments can identify potential errors earlier and manage supporting records through one system.
Vertex Sōl Brings AI Into Tax Compliance Operations
Vertex Sōl integrates tax determination, electronic invoicing, regulatory reporting, and audit preparation into a connected workflow. The platform maintains transaction records throughout each compliance stage, reducing the need for separate documentation processes. Furthermore, Vertex Intelligence supports the system with regulatory information, tax expertise, explanations, and recommendations.
The company designed the platform to give tax professionals direct control over automated decisions. Teams can review recommendations, approve actions, and reverse decisions when necessary. This structure allows businesses to adjust automation levels according to internal policies and compliance requirements.
Vertex serves a customer base that includes more than 60% of Fortune 500 companies. Its existing tax solutions support businesses that manage complex transactions across different regulatory environments. The new platform extends those services by connecting tax calculations with documentation and audit requirements.
Vertex Survey Highlights Demand for AI Oversight
Vertex introduced the platform as enterprises examine the risks and benefits of automated compliance systems. A company-commissioned survey questioned 402 tax and compliance software decision-makers across the United States and Germany. Emerald Research Group conducted the research to assess expectations surrounding artificial intelligence in compliance operations.
The survey found that 81% of respondents required full visibility into automated decisions before adopting AI compliance tools. Respondents also wanted the ability to override or reverse automated actions at any time. These findings highlight the importance of transparency and human control in regulated financial operations.
Vertex Sōl addresses these requirements through adjustable automation settings and decision records. Tax departments can choose whether the system recommends actions, assists employees, or operates within established controls. Meanwhile, its recordkeeping functions allow teams to trace decisions back to their original transactions.
Vertex Expands Compliance Capabilities Across Tax Workflows
Vertex Sōl supports several activities that tax departments handle throughout the reporting cycle. When regulations change, the platform connects updated requirements with relevant transactions and identifies potential compliance impacts. Tax professionals can then review the information before making operational changes.
Before filing, the system identifies relevant issues and provides recommendations within company-defined controls. During audits, it helps teams organize notices, gather supporting documents, and identify missing information. These functions connect routine compliance work with the evidence businesses need during regulatory reviews.
Industry research firm IDC identifies governance and traceability as important requirements for enterprise compliance technology. Its assessment emphasizes the need to explain automated actions and connect them with original tax decisions. Vertex’s latest launch reflects that direction while extending its existing compliance software capabilities.

The post Vertex, Inc. (VERX) Stock: Unveils Vertex Sōl to Transform Tax Compliance With AI appeared first on Blockonomi.

TLDR:
Santiment counted 59.95 million non-empty Bitcoin addresses on October 26, down 30,000 since October 16.
BTC touched $79,332 on Monday before trading near $80,000, with resistance marked at $82,000–$82,500.
Ali Martinez flagged a four-hour channel breakdown, identifying $72,500 as a potential buying area for BTC.
U.S. spot Bitcoin ETFs lost $635.6 million on October 22 and $137.9 million on October 23, Farside said.
Bitcoin’s loss of 30,000 funded wallets has created a market paradox, as declining retail participation coincides with mounting warnings of another selloff. Consequently, the contrasting signals raise questions about whether investors are witnessing seller exhaustion that could establish a market bottom or continued weakness pointing to further losses.
Santiment reported October 26 that Bitcoin had approximately 59.95 million non-empty addresses, down 30,000 since October 16. Its findings suggest discouraged smaller holders may be withdrawing after prolonged stagnation. The count measures funded blockchain addresses, rather than individuals, making it an indirect indicator of shifts in retail behavior.
Bitcoin’s Falling Wallet Count May Signal A Bottom
Bitcoin has lost roughly 30K non-empty wallets since October 16th, bringing the total back down near 59.95M. This may sound alarming, but it doesn’t necessarily signal declining utility. After weeks of stagnant $BTC price… pic.twitter.com/vI2kJHhGEf
— Santiment Intelligence (@SantimentData) October 26, 2026
Yet BTC traded near $80,000 on Monday after touching roughly $79,332. That decline leaves price analysis confronting two competing readings: seller exhaustion and a weakening technical structure. BTC must also contend with resistance around $82,000, while another chart assessment identifies a buying area substantially lower.
30,000 Bitcoin Wallets Lost as $80,000 Bottom Faces Test
Santiment describes shrinking retail participation as a potential contrarian signal. Historically, recoveries can follow periods when impatient holders abandon positions, reducing speculative enthusiasm. However, a wallet is not an investor.
One person may control several addresses, meaning Bitcoin address losses cannot establish precisely how many people sold. Santiment’s October 9 price analysis showed the opposite trend.
At that point, addresses holding less than 0.01 BTC were increasing despite weaker markets. The firm then viewed continued retail buying as an obstacle to recovery. By October 26, its price analysis highlighted falling wallet numbers instead. For BTC, the immediate reference is $80,000.
Stabilization there, followed by a move beyond $82,500, would strengthen the firm’s proposed bottoming interpretation. Conversely, a sustained break below $79,000 would leave that interpretation unsupported. Bitcoin still needs observable buying demand rather than address counts alone.
BTC Channel Breakdown Puts $72,500 in Focus Amid ETF Outflows
Beyond the on-chain signals, technical indicators reinforce concerns about further downside. Ali Martinez’s price analysis shows BTC breaking below a rising channel on the four-hour chart, disrupting its previous pattern of higher lows.
BITCOIN APPROACHES BUY ZONE
Bitcoin appears to have broken below a rising parallel channel on the 4-hour chart.
As long as $82,000 holds as resistance, $BTC could continue correcting toward $72,500.
That’s where I’ll be looking for the next buying opportunity. pic.twitter.com/lHnB4XnUhS
— Ali Charts (@alicharts) October 26, 2026
Consequently, Martinez identifies $82,000 as resistance and $72,500 as a potential buying area, approximately 9% below Monday’s Bitcoin price. Meanwhile, institutional positioning adds another dimension to the market’s uncertainty.
Glassnode reported on October 21 that U.S. spot Bitcoin ETF holders had an average entry price near $81,500. Corporate treasuries, by comparison, held an average purchase price around $80,200.
Furthermore, Glassnode’s price analysis identified the True Market Mean near $77,600, providing another reference below $80,000 without confirming further losses. Recent institutional flows also highlight the challenges facing a sustained recovery.
According to Farside Investors, spot Bitcoin ETFs recorded $635.6 million in outflows on October 22, followed by another $137.9 million on October 23. Against this backdrop, BTC price analysis centers on reclaiming $82,000–$82,500 or extending losses below $79,000.
Adding to the uncertainty, the Federal Reserve’s October 28 policy decision presents another near-term market catalyst. Until resistance is reclaimed, this price analysis leaves Bitcoin without a confirmed bottom, while BTC remains exposed to the lower support levels identified by analysts.
The post Bitcoin Bottom or Bull Trap? 30,000 Wallets Exit as $72,500 Risk Grows appeared first on Blockonomi.

TLDR
Quantum Cyber stock tumbles 13.85% to $0.8701 despite its QuantumCT presentation.
Quantum Cyber introduces antenna research at QuantumCT’s Phase 3 industry event.
Magnetic navigation leads Quantum Cyber’s roadmap for satellite-limited settings.
QuantumCT brings Yale, UConn and industry together to advance quantum sensing.
The presentation brings no research award, funding deal, or procurement contract.
Quantum Cyber N.V. presented its antenna technology at a Connecticut event focused on quantum sensing and commercial applications. The company outlined potential uses in navigation, communications, and energy harvesting during QuantumCT’s Phase 3 gathering. Meanwhile, QUCY stock plunged 13.85% to $0.8701, losing $0.1399 as selling pressure pushed shares toward session lows.
Quantum Cyber N.V., QUCY
Quantum Cyber Presents Antenna Technology at QuantumCT Event
Quantum Cyber participated in the QuantumCT Phase 3 Pilot Collaboration RFP Convening on October 16, 2026. The event took place in New Haven, Connecticut, bringing together academic researchers and technology companies. Participants explored opportunities to develop quantum sensing systems through joint research and industry partnerships.
Nadab Akhtar and William Skidd delivered the company’s presentation during the industry discussion session. Skidd serves as Chief of Staff at Project LightShift and joined Akhtar in explaining the antenna research. Their presentation highlighted possible commercial applications and technical development priorities within the emerging quantum sensing sector.
QuantumCT organized the gathering to launch its Phase 3 request for proposals process. The program connected researchers with industry specialists to address technical challenges and identify possible development projects. Furthermore, speakers examined how quantum sensing technologies could support practical applications across different industries.
Quantum Cyber Targets Magnetic Navigation Technology
Quantum Cyber identified magnetic navigation, or MagNav, as the first milestone in its proposed commercial development roadmap. The technology aims to support positioning and navigation when conventional satellite systems become unavailable or unreliable. Such capabilities could serve defense operations and other environments with limited access to satellite navigation.
The company also discussed longer-term research opportunities involving quantum communications and energy harvesting. These applications could expand the potential uses of its antenna research beyond navigation systems. The company must complete further engineering, testing, and validation before establishing their practical capabilities.
The presentation connected the company’s antenna research with broader developments in quantum sensing. Quantum-based technologies use physical properties to measure environmental conditions and support specialized detection systems. Quantum Cyber plans to explore potential applications as researchers continue developing the underlying technology.
QuantumCT Phase 3 Program Supports Research Collaboration
QuantumCT operates through a public-private partnership involving Yale University, the University of Connecticut, and Connecticut’s state government. The initiative supports quantum technology research, commercialization, and adoption through cooperation between academic institutions and businesses. Its Phase 3 process encourages proposals addressing specific technical challenges and potential commercial applications.
During the gathering, previously awarded project teams presented their work alongside invited academic and industry speakers. Participants also reviewed proposal requirements, evaluation criteria, and timelines for the new funding process. Breakout discussions and networking sessions provided further opportunities for technical exchanges and possible partnerships.
Quantum Cyber’s Connecticut operations give the company an existing connection to the state’s technology sector. Nevertheless, its participation represented an opportunity to present research rather than secure a formal project agreement. QuantumCT did not award the company funding, approve procurement, or establish a funded research collaboration through this presentation.

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