Sophon plans November mainnet shutdown, sets November 25 withdrawal deadline
Sophon has set a November 25 deadline for users to withdraw assets before its planned mainnet shutdown. Sophon said Monday that key infrastructure and related websites will begin shutting down on November 25, putting remaining assets at risk of becoming permanently inaccessible. The team asked users to withdraw tokens and claim outstanding staking or Guardian rewards. Sophon's developers announced in June that operations would move to Base because maintaining a standalone blockchain no longer justified the benefits.
Crypto analyst The Smart Ape said Robinhood Chain's daily gas fees fell 99.6%, from $8.4 million on September 4 to $34,000 on October 18. The Smart Ape also reported sharp declines in trading-platform fee revenue and meme coin prices. However, Robinhood Chain's total value locked reached a record $1.05 billion, with about $480 million concentrated in two stablecoin lending markets on Morpho. High-risk speculative capital has clearly receded, while retained funds are more concentrated in activities such as stablecoin lending.
French MPs back proposal to tax gains on certain stablecoin swaps
French MPs backed a proposal on Oct. 16 to tax gains on swaps into certain stablecoins. The National Assembly adopted amendment I-3898 by 38 votes to 37, with 25 abstentions, during the first reading of the 2027 finance bill. The proposal could make gains taxable before investors convert crypto into cash. MPs rejected a separate proposal to carry unused qualifying crypto losses forward for ten years. The stablecoin provision remains in the Oct. 19 provisional text, but its proposed application from Jan. 1, 2027 depends on enactment.
BNB Standard Corporation (BNC), a BNB treasury company, announced the appointment of Alex Odagiu as CEO. Odagiu officially assumed the role on October 19, 2026. Odagiu has resigned from all positions at YZi Labs.
US Homeland Security orders civilian federal agencies to remove DeepSeek
The US Department of Homeland Security has ordered federal civilian agencies to remove DeepSeek products from agency IT systems. The order also covers DeepSeek affiliates and third-party products and services developed using DeepSeek implementations, and prohibits affected agencies from making new purchases. The restrictions took immediate effect upon publication on Tuesday. DHS warned that government employees and contractors using DeepSeek could expose sensitive information to China.
Blockchain Association urges clearer DeFi and foreign stablecoin issuer rules
The Blockchain Association urged the U.S. Treasury Department to clarify proposed rules implementing Section 3 of the GENIUS Act. The association supported Treasury's core approach but sought clearer definitions of digital asset service providers, liability standards and foreign issuer requirements. The group argued that liability for knowing participation in unlawful stablecoin issuance should require actual knowledge and substantial assistance in coordination with the issuer. The association also recommended allowing service providers to rely on regulators' public prohibition lists rather than conduct open-ended due diligence on foreign issuers. The GENIUS Act is expected to take effect in January 2027.
Machi Big Brother says PAPER may remain non-transferable for an extended period
Machi Big Brother (Jeffrey Huang) said PAPER appears likely to remain non-transferable for an extended period. Huang said fee distributions will therefore be the only way for holders to obtain investment returns currently. However, holders' share of fee distributions may be diluted as the token supply increases. Huang said fee income distribution aligns the interests of holders and the team, and Huang concluded that the relevant issues can still be resolved.
Analysis: Singapore and Hong Kong pursue different paths to stablecoin growth
Hong Kong is linking stablecoins to established banks, while Singapore is strengthening infrastructure for circulating and settling tokenised assets. Analysts said practical, commercially viable uses would determine the success of either regulatory framework. HSBC's Hong Kong dollar-pegged RedCoin is expected to launch in the second half of this year. Singapore has proposed legislative changes that would allow multi-jurisdictional issuance and recognition of a limited number of foreign stablecoins. Economics professor Ramkishen Rajan said Hong Kong appeared further along in implementation, but judging either framework superior for growth was premature. Rajan warned that costly compliance obligations could reduce competitiveness and make services uneconomic.
Ethereum spot ETFs record $103 million net outflow, extending streak to four days
SoSoValue data showed that Ethereum spot ETFs recorded total net outflows of $103 million yesterday, October 19, US Eastern Time. Ethereum spot ETFs have recorded four consecutive days of net outflows. SoSoValue data showed that BlackRock's ETHA had the largest single-day net outflow at $95,395,300. According to SoSoValue, Ethereum spot ETFs had total net assets of $14,765 million as of press time.
France's AMF publishes new list of illegal crypto service websites
The French Financial Markets Authority (AMF) has published a new batch of websites discovered in the third quarter illegally offering crypto assets or related services in France. The AMF has added 64 names to its list of unauthorized crypto asset websites since 2026. The AMF said the frequently updated list cannot be exhaustive. The AMF said investors can consult the regulator's whitelist to verify whether a platform is authorized to operate in France.
Bitcoin spot ETFs draw $527 million as only BlackRock's IBIT records net inflows
SoSoValue data show Bitcoin spot ETFs recorded total net inflows of $527 million yesterday, October 19, US Eastern Time. BlackRock's IBIT was the only fund with net inflows, attracting $665 million. SoSoValue data show Fidelity's FBTC recorded the largest net outflow, at $83,631,500. Bitcoin spot ETFs had total net assets of $105,459 million as of press time, according to SoSoValue.
Bitcoin's annualized volatility drops to 43%, Grayscale data shows
Grayscale research data shows Bitcoin's realized annualized volatility over the past year has dropped to 43%. The figure is below Bitcoin's 10-year average of 64% and its level of 81% five years ago. As of October 6, 2026, Bitcoin's annualized volatility was below that of approximately 19% of S&P 500 index constituents, according to Grayscale's statistics.
JPMorgan report projects Bitcoin to lead listed assets with 10% annual compound return
JPMorgan Asset Management projects Bitcoin will deliver a 10% annualized compound return over the next 10 years, the highest among asset classes listed in its report. The report projects returns of 7.5% for large-cap U.S. equities and 5.5% for gold. The report also projects Bitcoin's annualized volatility will reach 55%. Bitwise Chief Investment Officer Matt Hougan shared the report and said traditional financial institutions have moved from ignoring and opposing Bitcoin to forecasting its outperformance.
Hyperliquid Policy Center urges SEC to exclude airdrops, Hyperliquid News says
Hyperliquid News said the Hyperliquid Policy Center is calling on the U.S. Securities and Exchange Commission to exclude airdrops from the definition of securities. The center wants a rule establishing that free airdrops do not constitute an investment of money and therefore are not investment contracts. The center also seeks coverage for announced and recurring airdrops, subject to operational-network, eligibility and non-fundraising conditions. The center argues that claim procedures should not count as consideration. The center wants the rule to apply retroactively to past airdrops or cover Hyperliquid's native airdrop.
Strategy faces potential MSCI removal as funds hold nearly $1.8 billion in MSTR
Strategy faces potential removal from MSCI indices, with related index funds holding nearly $1.8 billion in MSTR, according to market analyst Murphy. Murphy said MSCI approved new exclusion rules on October 15 and had already placed Strategy on a proposed removal list through a simulated screening. Murphy said final results will be announced on November 11 and take effect on November 30. Related index funds hold approximately 13 million MSTR shares, equivalent to 60% of MSTR's 30-day average daily trading volume, according to Murphy.
Solana governance vulnerability fixed before SGP-0002 vote, leaving outcome unchanged
A vulnerability in Solana's on-chain governance program svmgov was fixed before the SGP-0002 vote and did not change the proposal's passage. The vulnerability could prevent delegators' advance votes from being counted when validators did not vote, according to Asymmetric Research. The fix reached mainnet on August 3, before the August 24 vote. Asymmetric Research estimates that without the fix, approval could have fallen from 67.00% to 66.65%, below the 66.67% passage threshold.
AI crypto sector rises 0.83% as DePIN falls 1.09%, SoSoValue data show
SoSoValue data showed a slight overall pullback across crypto market sectors on October 20. The data showed that the AI sector rose 0.83% over 24 hours, while the DePIN sector continued declining with a further 1.09% loss. SoSoValue data showed that Quack AI (Q) rose 15.51%. The data also showed that Bitcoin (BTC) fell 0.97% and Ethereum (ETH) declined 1.08%.
Bitcoin, Ethereum, XRP and Dogecoin dip despite prevailing market greed
Bitcoin, Ethereum, XRP and Dogecoin dipped on Monday as investors weighed Federal Reserve Chair Kevin Warsh's remarks and the odds of a rate hike. Bitcoin retreated toward $81,000 after climbing above $83,000. Coinglass data showed more than $180 million in cryptocurrency liquidations over the past 24 hours. The Crypto Fear & Greed Index showed that greed remained the dominant market sentiment. Santiment said Bitcoin accumulation by addresses holding 10 to 10,000 BTC creates a strong bullish setup if the trend continues. However, Glassnode highlighted selling pressure from short-term Bitcoin holders taking profits.