1. DTCC tokenization service launches, initially supporting securities backed by 25 underlying assets worth approximately $30 trillion
DTCC’s tokenization service initially supports securities backed by 25 underlying assets worth approximately $30 trillion. Tokens maintain a 1:1 correspondence with the original securities and use the same CUSIP, with official book-entry records held by DTC. Registered wallets at DTC can make peer-to-peer transfers around the clock. Tokens are subject to compliance-related transfer restrictions, and U.S. Treasury interest payments and maturity services are handled on-chain. The initial supported assets include Russell 1000 stocks, select ETFs, and U.S. Treasuries. The launch networks are Canton Network’s CIP-56 and ERC-20 on DTCC’s private Besu network. SEP-41 on Stellar and ERC-20 on Circle’s Arc are expected to be added in 2027. -Original text
2. CoinShares report: Strong U.S. inflation data drives $434 million in net outflows from digital asset investment products this week
CoinShares report: Stronger-than-expected U.S. inflation and consumer spending data fueled expectations of Fed rate hikes, leading to net outflows of $434 million from global digital asset investment products this week. -Original
3. Lagarde says digital euro will complement cash to counter competition from private stablecoins
European Central Bank President Christine Lagarde said the digital euro would complement cash for everyday payments to counter competition from private stablecoins. -Original
4. Musk says AI and robots are the only way to solve the U.S. debt crisis
Musk said the government cannot solve the budget deficit, and that the only way to address U.S. debt is through artificial intelligence and robots, rather than austerity. Musk noted that the president, House, Senate, and judiciary are all unwilling to cut spending, and admitted he spent too long at DOGE and should have returned to AI sooner. -Original
5. Deutsche Bank plans to launch crypto custody services within weeks, initially supporting BTC and ETH
Deutsche Bank plans to launch crypto custody services for German institutional clients within weeks, initially supporting Bitcoin and Ethereum, with technology co-developed by Taurus. The service aims to meet requirements for asset segregation, operational controls, reporting, insurance arrangements, and regulatory compliance, and will not be available to retail users. Deutsche Bank has discussed tokenized deposits, digital securities, and plans to expand to Asian financial centers in 2027. These developments require regulatory approval. -Original
6. Strive prices SATS preferred stock at $90, plans to raise $630 million to buy Bitcoin
Strive priced its SATS preferred stock at $90 per share and plans to raise $630 million to purchase Bitcoin and for other needs. The preferred stock has a $100 par value, a 15% annual cumulative dividend, and $22.50 in assets reserved per share at closing. Strive added 6,133 Bitcoin this month and now holds 35,595 BTC, making it the fourth-largest Bitcoin treasury among publicly traded companies, behind Strategy, Metaplanet, and Twenty One Capital. -Original
7. HEX founder Richard Heart detained in Turkey over alleged $1 billion crypto fraud
Turkish Justice Minister Akın Gürlek confirmed that HEX founder Richard James Schueler (Richard Heart) was detained in Istanbul on October 14. Authorities seized about $7.15 million in cash, 160,000 lira, six crypto cold wallets, and various luxury goods and weapons from 15 properties. Richard James Schueler is subject to an Interpol Red Notice and is suspected of carrying out crypto fraud worth about $1 billion in the United States and Finland. -Original
8. Coinbase has $2.3 billion in crypto-backed loans; 17 banks are developing tokenized deposits
Coinbase has $2.3 billion in crypto-backed loans, and 17 banks are developing tokenized deposits. -Original
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