Cointelegraph

SkyAI, formerly Sharps Technology, has sold its entire Solana (SOL) treasury and launched a tender offer to repurchase up to $201.3 million in shares and warrants, reversing its cryptocurrency accumulation strategy.
The company held approximately $223.8 million in cash as of Oct. 16 after liquidating its SOL holdings, according to a filing with the US Securities and Exchange Commission on Monday.
The tender offer allows shareholders and warrant holders to sell their securities directly back to SkyAI at a fixed price. It covers up to 95% of each class of the company’s outstanding shares and warrants, funded entirely by cash on hand.
The company said the tender offer is no longer tied to SOL’s price, a condition it had initially planned to include when announcing the buyback on Oct. 11. SkyAI intends to continue developing a financial platform combining stablecoin infrastructure on Solana with artificial intelligence.
SkyAI shares closed Monday at $2.79, up 5.3% on the day, according to Yahoo Finance data. The stock has gained approximately 65% over the past month but remains down about 41% over the past year.
SkyAI reverses Solana treasury strategy after one year
SkyAI launched its Solana treasury strategy in August 2025 after raising more than $400 million through a private placement. The company acquired more than 2 million SOL the following month, establishing a position valued at more than $400 million at the time.
By the end of 2025, the company held approximately 2.08 million SOL with a cost basis of $403.1 million, or roughly $194 per token. Its holdings were valued at $250.1 million, representing approximately $153 million in unrealized losses, according to its annual financial disclosures.
The losses reflected broader pressure on companies that accumulated SOL as a treasury asset. By February 2026, publicly traded Solana treasury companies faced more than $1.5 billion in combined unrealized losses as falling token prices weighed on their holdings and share valuations.
SOL fell to around $62 in June but has since recovered, trading near $104 as of Monday, according to CoinGecko data.
Source: CoinGecko
Magazine: Can the SEC and CFTC’s pro-crypto rules be overturned? Legal opinion

Crypto investors who failed to report trades in previous years may soon breathe a sigh of relief thanks to legislation currently advancing in the US Congress.
Section 502 of the Digital Asset Tax Certainty Act, H.R. 10357, would require the Treasury secretary to establish a Digital Asset Voluntary Disclosure Program within 12 months of the bill becoming law.
That would allow eligible taxpayers to correct any past digital asset tax violation by filing amended returns and paying the tax owed, along with interest and a program penalty.
The House Ways and Means Committee approved the bill by a 38-5 vote on Sept. 16, but it has not become law yet; it still has to pass the House and Senate and be signed by the president.
“It’s a big change that would help a lot of ordinary taxpayers, and it has gotten very little attention,” Andrew Gordon, executive director of Digital Asset Tax Action, tells Magazine.
A gap in the system
Crypto investors in the US are already grappling with the first filing season under the new 1099-DA broker reporting rules, which give the IRS greater visibility into crypto transactions.
Gordon says those rules should make reporting easier going forward, but they fail to address the years before coming into effect.
The House Ways and Means Committee approved the bill by a 38-5 vote. Source: Ways & Means
“A large share of investors didn’t report correctly over the years,” he says, and existing procedures don’t offer taxpayers who made “honest mistakes” a predictable way to resolve their liabilities.
“Today, a crypto investor who learns they didn’t properly report their crypto or has not reported at all has no good way to fix it,” he says; investors can discover years later that they misunderstood the tax treatment of crypto-to-crypto trades or reporting activity across multiple platforms.
What taxpayers could get
The IRS’s existing Voluntary Disclosure Practice is aimed at taxpayers who willfully violated tax rules and face potential criminal exposure.
For taxpayers with errant reporting skills, they can currently correct their mistakes by filing amended returns, but the penalty treatment is not as predictable as provision 502’s proposed crypto-specific program.
Sharon Yip, a certified public accountant (CPA) and founder of Crypto Tax Advisors, says reporting errors among ordinary crypto investors are common.
In her firm’s experience, some clients did not report crypto because they believed no tax was due until they cashed out, while others relied on incomplete exchange records or incorrectly classified transactions.
“There is no standardized process that gives non-willful crypto investors predictable penalty treatment or a clear resolution,” Yip tells Magazine.
She says a crypto-specific program could “fill this gap” by providing a “defined correction period, reduced and predictable penalties and greater certainty for taxpayers who come forward voluntarily.”
What the bill would offer
Under Section 502, taxpayers would generally have to file amended returns within 24 months of the program being established, and the bill sets out two penalty tracks.
There are lower rates for taxpayers who certify under penalty of perjury that their violations were neither fraudulent nor willful. They would face a 0% penalty on the first $25,000 of tax deficiency per year and 5% on amounts above that, if they file within the first 12 months of the program.
For those who don’t certify, rates of 25% on the first $25,000 and 40% above it apply, with the rates increasing if taxpayers miss the initial window.
49% of crypto users understood selling crypto can be a taxable event. Source: Cointracker
There is also relief from specified civil penalties, and taxpayers who don’t certify are protected from criminal referrals based on information properly disclosed for the tax offenses covered by the provision.
Yip says taxpayers should check their transaction histories across exchanges and wallets to identify which years need correcting before assessing whether their mistakes were genuinely non-willful.
Because falsely certifying carries a penalty of perjury, she advises seeking professional guidance where taxpayers are unsure.
Section 502 could come as a welcome relief for many US crypto users; a 2026 report by CoinTracker and Coinbase found that only 49% correctly understood that selling crypto can be a taxable event.
Magazine: Crypto lending rises again… but have they solved the risks?

Protect Progress, an affiliate of the cryptocurrency-aligned Fairshake super political action committee (PAC), reported spending $362,000 on ads to support a Democrat in California’s 14th congressional district, just weeks after she won a special election against the same opponent.
According to a Sunday filing with the US Federal Election Commission (FEC), Protect Progress reported spending $362,000 on media supporting incumbent Democrat Aisha Wahab in the Bay Area district against her fellow party member, Melissa Hernandez.
Wahab defeated Hernandez in an Aug. 18 special election with more than 53% of the vote, raising questions about why the cryptocurrency industry-aligned PAC is supporting her in the 2026 midterms.
Notably, both Wahab and Hernandez were ranked as “strongly supports crypto” after they went on the record with the digital asset organization Stand With Crypto to complete questionnaires ahead of the August special election. That election was used to determine who would replace Democrat Eric Swalwell for the remainder of his term, ending January 2027. Swalwell resigned in April amid sexual assault allegations.
Fairshake launched in 2023, backed largely by contributions from Coinbase, Ripple Labs and Andreessen Horowitz. Since the 2024 US elections, the Super PAC has spent tens of millions of dollars on candidates the group considers “pro-crypto” in efforts to fill Congress with lawmakers more likely to support policies favorable to the digital asset industry.
In an Oct. 7 debate, Wahab signaled that she opposed Hernandez for not denouncing expenditures from corporate PACs aligned with the American Israel Public Affairs Committee (AIPAC), adding that the spending “really deteriorated our democracy.” Cointelegraph reached out to both the Hernandez and Wahab campaigns, and Fairshake for comment on the spending but did not receive immediate responses.
One notable change between the August special election and the November midterms will be the boundaries of California’s 14th district. The current boundaries, which include parts of San Francisco’s East Bay, will be expanded in accordance with the 2025 passage of the state’s Proposition 50, requiring new maps for the midterm elections.
Fairstake steps up spending in Ohio and Nebraska
The crypto PAC reported in January that it had $193 million in cash on hand ahead of the elections, and it had already used tens of millions of dollars to support Democratic and Republican candidates in primaries and special elections.
With just over two weeks until the 2026 election, Fairshake reported additional spending on media for Senate races in Ohio and Nebraska.
Defend American Jobs, a Fairshake affiliate largely supporting Republican candidates, reported spending more than $6.7 million to oppose Independent candidate Dan Osborn in Nebraska’s Senate race. The PAC also reported $8 million on media in Ohio, supporting incumbent Republican Jon Husted against Democrat Sherrod Brown in a race where it has spent more than $46 million so far.
Brown’s race could be another bellwether for how the crypto industry potentially impacts the 2026 midterms. The Democrat lost his seat to Republican Bernie Moreno in 2024 after Fairshake and other interest groups spent a combined hundreds of millions of dollars on ads opposing Brown.
Magazine: Made an ‘honest’ mistake with crypto taxes? New bill offers way out

The US Securities and Exchange Commission (SEC) is set to move forward with digital asset policies after Congress failed to pass legislation that would have established a framework for regulating cryptocurrency at the agency and across other parts of government.
On Tuesday, the SEC will close public comment on its ‘Regulation Crypto Assets,’ a set of rules proposed in August intended to create what the agency called a “clear and fit-for-purpose framework for certain investment contracts involving crypto assets.” Over the 60-day period, the agency gathered about 140 comments from interest groups and individuals on rules and regulations related to a proposed safe harbor that would prevent token issuers from being considered “investment contracts,” as well as exemptions for companies permitting offerings up to a certain amount.
The Markets in Crypto Assets (MiCA) Crypto Alliance, a group established to help organizations looking to implement the EU framework on digital assets, largely supported the SEC’s proposed changes to disclosure requirements. The alliance recommended specific amendments to have the SEC better define “concepts and data structures specific to crypto assets and the disclosure requirements.”
Others, including SkyBridge Capital founder Anthony Scaramucci, said they would support the SEC’s proposed crypto rules. Scaramucci said the digital asset regulations responded to “organic adoption” and “represent a return to the Commission’s proper role” without citing inaction from Congress on the Digital Asset Market Clarity (CLARITY) Act. Six people submitted comments anonymously.
While many public comments praised the SEC’s efforts to advance crypto regulation or said they would be open to further discussion, some legal experts suggest the rules could be more easily overturned than an act of Congress. Both financial agencies overseeing aspects of the crypto industry, the SEC and the Commodity Futures Trading Commission, are also still understaffed at the leadership level.

Visa and crypto payments network Mesh have partnered to allow consumers to spend cryptocurrency and stablecoin balances directly from digital wallets at merchants across Visa’s global payment network.
The integration will allow users of participating wallets to pay in stores or online without transferring funds to a bank account or obtaining a separate crypto card, according to a Monday announcement from Mesh. Merchants will receive payments through Visa’s existing network without changing their checkout systems.
Visa’s network covers more than 175 million merchant locations across over 200 countries and territories. Mesh said participating wallets, supported devices and launch dates will be announced as rollout plans are finalized.
Mesh will handle transaction funding and conversion between cryptocurrencies, stablecoins and fiat currencies, with Visa payment credentials provisioned through participating wallet apps. The company will also manage customer onboarding and Know Your Customer (KYC) requirements.
The partnership follows Mesh’s integration with Bybit Pay in September, allowing users to spend directly from their exchange balances on supported platforms. In January, Mesh raised $75 million in a Dragonfly-led funding round that valued the company at $1 billion.
Magazine: Scammer loses $4.8M stored on tampered Ledgers: Asia Express

Mastercard is extending its payment risk controls to stablecoin transactions by introducing a tool that lets financial institutions flag suspicious activity before funds move onchain, where recovering stolen funds can be difficult.
Unveiled Monday at the Money20/20 USA conference, Mastercard’s Stablecoin Security combines traditional payment data with blockchain analytics to identify fraud, scams, sanctions exposure and other financial crime risks. Borderless.xyz and Keyrails are the initial partners, with global commercial availability expected next year.
Banks already use fraud detection to monitor conventional payments. Stablecoins add complexity because funds can move across multiple wallets and blockchains, making it harder to assess risk throughout a transaction. Mastercard said Stablecoin Security can generate a risk score before a payment is completed, allowing banks to identify transactions that may require further review.
The launch marks another expansion of Mastercard’s stablecoin business following its $1.8 billion acquisition of BVNK in August. It also follows the company’s recent announcement of a Global Money Platform designed to bring stablecoin payments to businesses.
Mastercard’s stablecoin expansion comes as growth in the supply of digital dollars has slowed significantly this year, even as transaction volumes have accelerated, driven in part by remittances and cross-border payments. A recent Standard Chartered report suggests the stablecoin market could reach $2 trillion by 2030, two years later than its initial forecast.

Revolut, a UK-based financial technology company and neobank, has received a cryptocurrency services license in Gibraltar, which it plans to use to expand its digital asset offerings into international markets beyond the UK and European Economic Area.
The Gibraltar Financial Services Commission (GFSC) granted a Distributed Ledger Technology (DLT) Provider license to Revolut Global Digital Assets Limited, a newly established subsidiary, according to a Monday announcement.
A Revolut spokesperson told Cointelegraph that the license will allow the company to offer crypto services in additional international markets, although specific countries and launch timelines have not been announced.
Revolut currently provides cryptocurrency services through Revolut Ltd in the UK and Revolut Digital Assets Europe Ltd across the European Economic Area, where its operations fall under the European Union’s Markets in Crypto-Assets Regulation (MiCA).
The fintech reports more than 80 million retail customers worldwide, including about 16 million cryptocurrency users, according to its announcement.
The Gibraltar license follows Revolut’s in-principle approval to offer crypto services in Dubai in July and preliminary conditional approval from US regulators in September to establish a national bank offering digital asset custody and crypto-related payment services.
Magazine: Can the SEC and CFTC’s pro-crypto rules be overturned? Legal opinion

Shareholders of Super League, a Nasdaq-listed gaming and digital media company, approved a deal that would give Japanese Bitcoin treasury firm Metaplanet a 93.7% ownership stake, paving the way for its expansion into US capital markets through a publicly traded Bitcoin treasury company.
According to a Monday announcement and filing with the US Securities and Exchange Commission (SEC), shareholders approved the issuance of as many as 435.9 million common shares under agreements involving Metaplanet and Evo Fund. Metaplanet will contribute 2,100 Bitcoin (BTC) and $2.5 million in cash in exchange for 44.86 million common shares, 100 shares of convertible perpetual preferred stock carrying governance rights and 10-year warrants for additional common stock.
The transaction would give Metaplanet control over the company, including the ability to designate a majority of its board and approve major corporate decisions. Metaplanet’s common shares will be subject to a five-year lock-up.
As part of the deal, Super League plans to rebrand as Superplanet and adopt the Nasdaq ticker SUPA, with a strategy focused on increasing its Bitcoin holdings per share.
Rather than relying primarily on debt, Superplanet intends to finance additional Bitcoin purchases through senior, non-convertible perpetual preferred shares. Metaplanet will also have the option to invest up to $210 million in junior preferred stock to provide additional financial support.
Source: Dylan LeClair, Metaplanet director of Bitcoin strategy
The deal comes as Metaplanet continues to expand its Bitcoin holdings. The company has accumulated 44,000 BTC, making it the second-largest publicly traded corporate Bitcoin holder behind Strategy, according to industry data.
Metaplanet looks to US markets to finance Bitcoin purchases
The deal would enable Metaplanet to raise capital in US dollars through preferred stock offerings, complementing its existing yen-denominated financing in Japan.
In an Oct. 15 SEC filing, Super League said the US market for preferred securities issued by Bitcoin treasury companies has grown large enough to support new entrants. The proposed financing structure would provide another source of funding for Bitcoin purchases without relying primarily on conventional debt.
The expansion comes as Metaplanet revises its broader investment strategy. Earlier this month, the company proposed allocating up to 15% of its total assets for strategic investments to help finance Bitcoin purchases and dividend payments.

Bitcoin treasury company Strive purchased 4,045 Bitcoin for approximately $335 million last week, bringing its total holdings to 36,818 BTC as it continues to expand its cryptocurrency reserves through equity financing.
The company acquired the Bitcoin (BTC) between Oct. 12-16 at an average price of $82,803 per coin, including fees and expenses, according to a Monday filing with the US Securities and Exchange Commission.
Strive is now the fourth-largest publicly traded corporate BTC holder, ahead of MARA Holdings, with reserves valued at approximately $3 billion, according to data from BitcoinTreasuries.net. MARA was reported to be selling some of its holdings, as Arkham tracked wallets linked to the miner depositing about $82 million worth of the crypto into Binance and Gate in recent days.
Strive’s Bitcoin holdings reached 36,818 BTC. Source: BitcoinTreasuries.NET
Strive also reported approximately $369 million in proceeds from warrant exercises on Oct. 12 and 13, resulting in the issuance of 13.7 million common shares. Its effective share count rose 12.4%, roughly matching the 12.3% increase in Bitcoin holdings and leaving BTC per share largely unchanged.
The latest acquisition follows a series of large Bitcoin purchases by the company, including a 3,311 purchase the previous week, when its holdings grew 11.2%, outpacing a 9.4% increase in its effective common share count.
Strive also announced the launch of SATS last week, a new preferred stock issue carrying a fixed 15% annual dividend, payable each business day beginning Nov. 9, subject to board approval. The company priced a $630 million offering of the new preferred shares last week, with proceeds potentially funding additional Bitcoin purchases.
Strive (ASST) shares were up around 7.7% at $25.95 in late-morning trading Monday, according to Yahoo Finance data.
Magazine: Made an ‘honest’ mistake with crypto taxes? New bill offers way out

Bitcoin (BTC) traded below $82,000 after Monday’s Wall Street open as crypto diverged from rising stocks and bond yields.
Key points:
Bitcoin gave up early-week gains as ask liquidity amassed above $83,000 across exchanges.
The Nasdaq Composite Index followed Asian equities higher, gaining 1.5% in the first hours of trading on Monday.
US bond yields continued to move in lockstep with stocks, with the 10-year yield back at 5.13% ahead of major corporate earnings announcements.
Bitcoin treads water as stocks, bond yields rebound
Data from TradingView showed BTC/USD dipping to $81,678 on Bitstamp after reaching $83,062 earlier in the day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Both Asia and US equities rallied to start the week, helping to recoup losses from the week prior as selling pressure on tech stocks eased. South Korea’s tech-heavy KOSPI Composite Index finished the day 1.76% higher at 5,768 points, while the Nasdaq Composite Index was up 1.5% at the time of writing.
Nasdaq Composite Index one-hour chart. Source: Cointelegraph/TradingView
Continuing a pattern observed in recent weeks, US bond yields rose in lockstep with equities ahead of anticipated strong corporate earnings by tech giants. Several of these are due for release on Tuesday and Wednesday, including Meta, SpaceX and Tesla. The US 10-year and 30-year yields reached 5.13% and 5.46%, respectively.
US 10-year bond yield one-day chart. Source: Cointelegraph/TradingView
In its latest analysis, trading company QCP Capital saw bond-market stability as key to Bitcoin upside momentum. It also warned that BTC could suffer from a repeat of last week’s tech-stock sell-off.
“Broader equity deleveraging dynamics could transmit to cryptocurrency markets and potentially threaten the $80,000 support level if sustained. Conversely, a sustained Treasury rally could provide support for risk assets, particularly if accompanied by declining real yields and a weaker US dollar,” it wrote.
$83,000 sellers keep BTC price in check
On lower time frames, Bitcoin price action encountered friction after ask liquidity thickened above $83,000 on exchange order books.
Data from CoinGlass showed this wall of asks pressuring BTC/USD lower, while 24-hour cross-crypto liquidations totaled $335 million.
Crypto liquidation heatmap. Source: CoinGlass
Amid rangebound conditions, onchain analytics platform CryptoQuant showed Bitcoin whales reducing activity. The Binance whale ratio, which records the share of the 10 largest inflow transactions relative to total inflows, fell to 0.45 from 0.54 at the start of October.
“The decline in the Whale Ratio indicates that the proportion of large BTC deposit transactions relative to total exchange inflows is decreasing, potentially reflecting shifts in whales’ trading strategies and asset management activities,” CryptoQuant summarized.
Binance Bitcoin exchange whale ratio. Source: CryptoQuant

Nine listed companies have formally objected to having their shares offered in tokenized form on the proposed tokenized stock platform backed by OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE).
The companies included Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon Communications, Applied Optoelectronics, Broadcom and UnitedHealth Group, according to a Thursday notice by OKX and ICE.
The notice did not disclose the reason behind the objection. Under the Securities and Exchange Commission’s Sept. 17 innovation exemption announcement, tokenized venues must give issuers written notice and an opportunity to object before listing third-party tokenized stocks.
“Issuers aren’t objecting to the blockchain. They’re objecting to not knowing what happens to their price once it trades there,” Robin Nordnes, CEO of trading validation platform Raiku, told Cointelegraph. “On a public chain, the validator building the block sets the order. Until desks can measure their distance to that point, best execution is a promise, not a number.”
The objections highlight a potential hurdle for tokenized stocks and test whether crypto platforms can create blockchain-based markets for public company shares without issuer cooperation.
Cointelegraph has approached OKX for comment on the ramifications of the objection but had not received a response by the time of publication.
Tokenized stock offerings need more real-world data to address pricing discrepancy concerns
Companies need to see the “upside and a track record of efficient pricing,” Misha Putiatin, co-founder of collateral markets platform Symbiotic, told Cointelegraph, adding that more “real-world data would help everyone assess the benefits and risks.”
He said that additional institutional tokenization initiatives, such as the Depository Trust and Clearing Corporation’s (DTCC) tokenization services, could instill more confidence in tokenized offerings.
CoinShares’ senior research associate, Luke Nolan, said the objection does not amount to a rejection of tokenization generally, but mostly against being tokenized without consent. He told Cointelegraph:
“This veto also seems to be venue-specific, as in companies being able to say: no, I don’t want them offered on this venue, but I could permit/launch it somewhere else.”
Nolan said the concerns are valid, adding that market participants have previously taken advantage of specific market mechanics to cause “squeezes” or “short-term swings” in the underlying asset’s price.
Capital moving onchain during the past 30 days. Source: OnchainBenchmark
More than $754 million in capital has moved onchain during the past 30 days, pushing the total across stablecoins and tokenized assets to $320 billion, according to OnchainBenchmark.
Magazine: How Hong Kong is turning tokenized bonds into real market infrastructure

Michael Saylor’s Strategy, the world’s largest publicly traded corporate Bitcoin holder, bought $22.1 million of the crypto last week while spending nearly nine times as much repurchasing its STRC preferred stock.
Strategy bought 267 Bitcoin at an average price of $82,900 between Oct. 12 and Oct. 16, bringing its holdings to 848,517 BTC, worth $64.02 billion at purchase cost, according to a Monday filing with the US Securities and Exchange Commission (SEC).
Strategy also bought back 1.94 million shares of its Stretch (STRC) preferred stock for $193.1 million. The latest purchase follows Strategy’s acquisition of 250 Bitcoin for $21.5 million during the week ending Oct. 9, when it also spent $192.4 million repurchasing STRC shares.
The company said its board increased the authorization for its digital credit securities repurchase program to $3 billion from $2 billion, leaving $1.16 billion available as of Sunday.
The company funded its BTC purchases primarily through $22 million in proceeds from selling 140,872 shares of its common stock, MSTR. It used existing cash to fund the STRC repurchases. Strategy reported a $4.83 billion US dollar reserve dedicated to preferred stock dividends and debt interest payments, alongside $447.3 million in separate cash holdings.
Ahead of Monday’s Nasdaq open, MSTR shares were trading more than 2.5% higher in premarket activity. The shares closed Friday down about 9.6%, at $138.83 apiece.

World Liberty Financial’s USD1 stablecoin has shed over $400 million in market capitalization over the past two weeks, driven by large redemptions on Ethereum and BNB Chain.
On Monday, CoinGecko data showed USD1’s market capitalization at about $4.02 billion, down from $4.43 billion on Oct. 6. That’s a decline of approximately $401 million, or 9.1%. World Liberty Financial’s proof-of-reserves dashboard separately showed approximately $4.01 billion in reserves.
The decline extends a period of concentrated redemptions on Ethereum and BNB Chain, according to blockchain research firm Onchain Benchmark. The researchers found that nearly $200 million in BNB Chain redemptions originated from a single unidentified address, although they could not establish who controlled the funds or why they were redeemed.
Despite the redemptions, USD1 maintained its dollar peg throughout the period examined by Onchain Benchmark, trading between $0.998 and $1.000. The researchers found no evidence of a sustained depegging event, indicating that the decline in circulating supply was not accompanied by a significant loss of the token’s dollar value.
USD1’s 30-day market cap chart. Source: CoinGecko
USD1 supply decline outpaces major stablecoins on Ethereum
According to Onchain Benchmark, Ethereum accounted for $184.60 million in net USD1 redemptions across 63 token burns between Oct. 6 and Oct. 15. BNB Chain recorded $200.43 million across 12 burns.
On Ethereum, more than 99% of tokens sent for redemption passed through a wallet labeled BitGo, USD1’s current issuer and custodian, while the BNB Chain transfers from the unidentified address were made in batches of $30 million to $50 million.
The reductions were not offset by new issuance on Solana, where USD1 supply remained unchanged at about $1.42 billion during the nine days reviewed by Onchain Benchmark.
“The next tests come with the change of issuer. When World Liberty’s trust company opens, it will take on a token whose size depends on the decisions of a few large holders, under a charter whose legal footing is being argued in court,” Onchain Benchmark said. “Whether fresh mints on Solana, or anywhere else, rebuild the total, or October marks the size USD1 carries into its new issuer, is the question the next weeks of supply data will answer.”
Transfers between Ethereum and BNB Chain totaled less than $1 million, according to the report, suggesting the missing supply wasn’t simply shifted between those networks.
USD1’s supply contraction on Ethereum was steeper than that of several other US dollar-denominated stablecoins between Oct. 6 and Oct. 15. USD1 supply on the network fell 11.45%, compared with declines of 4.93% for USDe, 2.18% for USDC and 0.76% for circulating USDT.
Magazine: Can the SEC and CFTC’s pro-crypto rules be overturned? Legal opinion

French lawmakers narrowly approved a new crypto tax amendment on Friday that could make crypto-to-stablecoin swaps taxable events starting in 2027.
France’s National Assembly adopted Amendment I-3898 on Friday, with 38 votes in favor, 37 against and 25 abstentions. The measure was initially introduced as committee amendment I-CF1826 by French MP Nicolas Sansu and adopted on Oct. 7.
The Assembly is scheduled to vote on the first part of the 2027 Finance Bill on Tuesday, according to its official schedule. Other crypto-related proposals remain under consideration, although it is unclear whether each will be debated or voted on that day.
If enacted, the stablecoin amendment would tax certain crypto-to-stablecoin swaps and change how the country calculates crypto capital gains tax.
French National Assembly advances Amendment I-3898 on crypto-to-stablecoin tax swaps. Source: assemblee-nationale.fr
Under the proposal, investors converting their Bitcoin (BTC) or other cryptocurrencies into stablecoins would trigger a tax on the gains, even without converting gains into fiat. The calculation would use the acquisition cost of the sold crypto asset and the weighted average purchasing price.
French lawmakers to discuss crypto exit tax, self-custodial wallet reporting measures
Separately, the Assembly rejected a proposal on Friday to carry forward realized crypto losses for 10 years, with 18 votes in favor, 75 against and 3 abstentions.
French lawmakers are preparing to discuss other crypto-related proposals as part of next year’s budget. Amendment I-CF1822 proposes to extend France’s exit tax regime to cover unrealized gains when taxpayers with aggregate crypto portfolio values exceeding €800,000 ($895,000) transfer their residences abroad.
Lawmakers are also weighing amendment I-2701, which would require individuals to declare the holdings of the self-custodial wallets if their total value exceeded €100,000 ($112,000) in the relevant tax year.
As of Monday, both proposals remain under consideration for the 2027 Finance Bill.
Magazine: How the EU’s crypto tax rules are expected to work for users and platforms

Bitcoin (BTC) starts the third week of October at $82,000 as crypto and stock markets begin a tentative rebound.
Key points:
South Korea’s KOSPI Composite Index gained nearly 1.8% on Monday after last week’s tech-driven losses.
Markets have priced out two further interest-rate hikes by the Federal Reserve in 2026, seeing 75% odds of only one 25-basis-point hike by the end of the year.
Bitcoin delivered a weekly close below key local support after the Coinbase Premium Index hit -0.14, its lowest level since late June.
Asia leads equities bounce ahead of tech earnings
A lighter week of US macro data prints will shift the market’s attention to corporate earnings as stocks rebound from last week’s sell-off. Around 15% of S&P 500 companies are due to report Q3 earnings figures in the coming week, including SpaceX on Tuesday and Tesla and Meta on Wednesday.
Tech-stock performance remains in focus after a major drawdown last week that began with South Korean markets. The KOSPI Composite Index lost 2.8% on Oct. 12 before dropping to the week’s low of 5,455 points on Thursday, bringing the week-to-date losses temporarily to 17%.
KOSPI Composite Index one-day chart. Source: Cointelegraph/TradingView
Contagion spread to neighboring Asian markets before US equities began to experience weakness later in the week. The S&P 500 finished Friday down 2% for the week.
As in early August, tech stocks saw considerable sell-side pressure amid concerns over AI expenditure plans and the associated debt obligations. In Korea, the threat of competition in semiconductor manufacturing from China exacerbated the downturn.
Warnings of a “Black Monday” event on global stock markets spread through social media over the weekend. The panic, which coincided with the 39th anniversary of the 1987 Black Monday crash, appeared misplaced, with KOSPI gaining 1.8% on Monday and S&P 500 futures 0.7% higher at the time of writing.
S&P 500 futures one-day chart. Source: Cointelegraph/TradingView
Commenting on the disconnect between public sentiment and market performance, market commentator The Kobeissi Letter suggested that stocks should outperform based on investor demand. Persistent high US inflation and a global energy crisis have positioned equities for a surge on any potential signs of conditions improving.
“All while the AI Revolution continues to accelerate and many large-cap technology stocks become cheaper on a forward earnings basis, even as their stock prices rise. And in the background, the demand for asset ownership is historically robust,” it summarized in analysis last week.
Kobeissi noted that while tech giants led S&P 500 strength, 80% of index stocks are trading at least 10% below all-time highs.
Fed rate-hike bets cool despite inflation data overshoot
Ahead of the Federal Reserve’s next decision on interest-rate changes on Oct. 28, markets have tempered their expectations on policy tightening.
Data from CME Group’s FedWatch Tool shows 85% odds of rates staying within their current 3.75-4% range in October. The Fed’s December meeting, meanwhile, carries just 11% odds of a further pause. Instead, markets see a 75% chance of a 25-basis-point hike, with a 50-basis-point move attracting 13% odds.
Fed target-rate probabilities (screenshot). Source: CME Group
In a discussion with International Monetary Fund Managing Director Kristalina Georgieva last week, Fed chair Kevin Warsh avoided any hints of forward guidance on policy, reinforcing a pledge made at the Jackson Hole economic symposium in August.
“I don’t prejudge meetings. I don’t believe in saying now what I might do at the meetings that we have in the balance of this year,” he said.
Markets, however, interpreted the lack of information as a dovish signal, doubling down on the Fed hiking rates just once more before 2027.
Adopting a cautionary tone, meanwhile, market commentator Mosaic Asset Company saw inflation trends forcing the Fed to avoid easing off, keeping a crypto and risk-asset headwind in place.
“While investors expect the Federal Reserve to hold rates steady at its next meeting later this month, a growing inflation problem will keep favoring tighter monetary policy,” it wrote in analysis on Sunday.
The September print of the US Producer Price Index (PPI) released last week showed the ongoing impact of the Middle East crisis on fuel prices. PPI delivered its largest month-on-month increase since March 2022 at 1.7%.
“Half of the September increase in the index for final demand goods can be traced to prices for gasoline, which jumped 20.3 percent,” the Bureau of Labor Statistics reported.
Fuel also accounted for more than half of the September increase in the Consumer Price Index (CPI), which beat expectations by 0.1% to hit 3.7% year-on-year.
BTC price analysis sees more $80,000 support retests
Bitcoin price action completed a weekly candle close below a key support zone of interest between $82,500 and $82,800.
The weekly close came in at $82,000, a move that crypto trader and analyst Rekt Capital warned could spark further retests of the $80,000 mark in the future.
“Such a Weekly Close would position Bitcoin for a potential bearish retest of ~$82500 into new resistance. And if that bearish retest occurs successfully then it could set price up for a drop below $80k within the next few weeks,” he wrote in analysis on X.
BTC/USD one-week chart. Source: Cointelegraph/TradingView
Previously, Cointelegraph reported on September’s local high near $87,000 now hosting multiple resistance components, including the 2026 yearly open and its 20-month simple moving average (SMA).
In its latest market overview, onchain analytics platform CryptoQuant flagged declining US investor demand as a reemerging BTC price headwind this month. The Coinbase Premium Index, which measures the difference in price between Coinbase’s and Binance’s BTC/USDT pairs, fell to -0.141 on Oct. 18, its lowest levels since June 30.
“This reading is particularly significant. If the index remains in negative territory, it could indicate insufficient demand to absorb selling pressure, potentially increasing the likelihood of a continued price correction in the short term,” CryptoQuant commented.
Coinbase Premium Index. Source: CryptoQuant
The lack of demand contrasts with BTC/USD holding gains made since the end of June, having bounced from new multiyear lows under $58,000 on July 1.

The European Union’s Markets in Crypto-Assets Regulation (MiCA) register added nine crypto-asset service providers (CASPs), including BingX, bringing the total to 375 unique providers.
The European Securities and Markets Authority’s (ESMA) Friday register update included crypto exchange BingX’s Austrian entity, MEGE zweite. It also listed the Italian subsidiary of YouHodler, a crypto lending platform offering yield products, with authorization for custody, crypto exchanges, order execution and transfers.
Both BingX and YouHodler announced their authorizations last week. BingX EU CEO Daniel Lai said the approval would allow the company to operate under a clear regulatory framework as it prepares to launch regulated services across the European Economic Area.
Other additions included Spain’s Prakma Markets, associated with the Goin crypto app, which operates a savings and investment platform.
New CASPs listed in ESMA’s MiCA register update on Friday. Source: ESMA
Germany’s additions included Openbank Deutschland, a subsidiary of Spanish banking group Banco Santander, alongside cooperative lenders VR-Bank Alb-Blau-Donau and VR Bank im südlichen Franken.
Denmark’s Penning Financial Services is no longer listed, despite appearing in register updates dating back to July 3.
The e-money token (EMT) register was unchanged at 50 entries representing 25 unique entities, while the asset-referenced token (ART) register remained empty. The register of non-compliant crypto-asset service providers (NCASPs) increased by five entries to 178.

JPMorgan Chase, the world’s biggest bank by market capitalization, is expanding its JPM Coin deposit token to Ethereum, Bloomberg reported on Monday.
JPM Coin represents US dollar deposits held at JPMorgan and lets eligible clients transfer funds within seconds, around the clock.
Emma Landriault, global head of Kinexys Labs, said crypto companies could use the token for blockchain payments, while financial institutions could use it to settle trades and post collateral.
Landriault said JPMorgan chose Ethereum for its liquidity and existing use among clients. While the tokens are issued on public networks, JPM Coin will remain restricted to approved institutional participants.
The expansion follows JPMorgan’s November 2025 rollout of JPM Coin on Base, an Ethereum layer-2 network built by cryptocurrency exchange Coinbase. At the time, JPMorgan said it planned to support additional public blockchains. In January, JPMorgan announced plans to bring JPM Coin to the Canton Network.
Cointelegraph contacted JPMorgan for additional details but did not receive an immediate response.

US spot Bitcoin and Ether exchange-traded funds (ETFs) saw $549 million in net outflows last week as investors continued pulling money from two of the largest crypto funds.
Bitcoin ETFs recorded around $229 million in weekly net outflows, while Ether funds posted even higher withdrawals at $320 million, according to SoSoValue data.
The latest withdrawals marked a second consecutive week of losses for Bitcoin ETFs and a third for Ether funds. Outflows slowed from the previous week, when the two recorded $1.22 billion in net outflows.
Spot Ether ETFs have recorded roughly $955 million in net outflows so far in October, more than in any other month this year.
Monthly flows in spot Ether ETFs. Source: SoSoValue
Ether (ETH) fell 5% over the past seven days to around $2,433, while Bitcoin dipped 1.3% to $82,783 at the time of publication, according to CoinGecko data.
Despite the withdrawals, both Bitcoin and Ether ETFs remain in positive territory for 2026, with Bitcoin ETFs attracting roughly $259 million in net inflows year-to-date and Ether ETFs drawing about $610 million.
Solana (SOL) ETFs recorded around $26 million in net withdrawals during the week, followed by Zcash (ZEC) at $19 million and Hyperliquid (HYPE) at $18 million, according to SoSoValue data. XRP and BNB funds saw smaller outflows of $1.8 million and $285,000, respectively.

Zoom enterprise customers will now be able to see “proof of human” badges to verify that people appearing on video calls are real, after a global rollout of biometric identity technology from World.
On Sunday, the Sam Altman-backed project announced that World ID for Zoom is now available in the Zoom Marketplace. The system compares an image captured by the company’s iris-scanning Orb, a live selfie and the participant’s video feed before displaying a Human Badge visible to other meeting participants.
World first announced its Zoom integration in April, when it was undergoing limited beta testing with VanEck Funds. The feature is now available globally to Zoom enterprise customers. World also named Bain Capital, Pantera Capital and other financial firms as initial design partners for its broader identity verification technology.
The rollout follows incidents involving AI-generated impersonation. In 2024, an employee at engineering firm Arup transferred about $25 million after scammers impersonated executives during a video conference.
In February, suspected North Korea-linked hackers used fabricated video feeds in fake Zoom meetings to trick crypto and fintech companies into installing malware.
“World ID for Zoom is designed to protect sensitive, high-stakes conversations by proving that a real and unique human is present,” World said in a statement cited by Fortune.

South Korea’s senior finance officials are reportedly set to meet crypto exchanges on Tuesday as calls to postpone a planned cryptocurrency tax are heating up ahead of its scheduled implementation in January.
According to Yonhap, the government is planning to hold a consultation on crypto taxation, with representatives coming from Upbit, Bithumb, Coinone, DigitalX and Gopax, along with executives of the Digital Asset Exchange Alliance, known as DAXA.
Government officials attending include Kwon Dae-young, first vice minister of finance and economy, and Yoo Young-jun, director general for digital financial policy at the Financial Services Commission.
South Korean regulators have delayed the crypto tax three times, with the latest delay pushing the start date to 2027 amid political disagreement and industry pushback over exchange readiness and the threshold level.
An exchange official told Yonhap on Sunday that unresolved transaction rules and limited time to prepare infrastructure supported postponing the tax.
“Standards for different transaction types have not yet been finalized, and time is running short for practical preparations on the infrastructure side,” an exchange official told Yonhap. “There is a shared view in favor of postponing the start of taxation.”
On Friday, Democratic Party of Korea lawmaker Park Min-gyu introduced a bill seeking to postpone the tax until Jan. 1 of the second year after South Korea begins sharing data under OECD’s Crypto-Asset Reporting Framework (CARF). With the first exchange expected in 2027, taxation would begin in 2029.