Today's news tips:
1. The UK plans to develop stablecoin rules by the end of 2026, which may be synchronized with US rules
2. OpenSea is transforming into a crypto trading aggregation platform and plans to launch the SEA token in the first quarter of 2026
3. Huobi founder Li Lin plans to establish a $1 billion Ethereum asset management company
4. Stripe-backed blockchain project Tempo completes $500 million Series A funding round, valued at $5 billion
5. Bitmine allegedly increased its holdings by $279 million in ETH in the past five hours, bringing its total holdings to 203,000 ETH this week.
6. The wallet associated with the Ethena founder purchased 48 million ENA from CEX in the past three days
7.6 hacker wallets recently lost over $13.4 million by buying high and selling low on ETH
Macro & Regulation
The UK plans to develop stablecoin rules by the end of 2026, which may be synchronized with US rules
According to Bloomberg, citing people familiar with the matter, the UK plans to develop stablecoin rules by the end of 2026 and launch consultations on stablecoin regulation on November 10. People familiar with the matter said that given the tensions between the Bank of England and the government on the issue, the Bank of England believes that its framework will be synchronized with the implementation of US rules.
Project News
Ethereum Foundation researcher Dankrad Feist will join Tempo
Ethereum Foundation researcher Dankrad Feist announced on the X platform that he will be joining the startup Tempo, dedicated to promoting the practical application of crypto payments globally. Feist stated that Tempo will be built on open source and Ethereum-compatible technology, focusing on scalability and high-speed transaction execution to achieve "real-world moments that reach everyday users."
Feist has been a member of the Ethereum research team since 2018, leading the development of core solutions such as Danksharding, the consensus mechanism, and PeerDAS. He revealed that he will continue to support the Ethereum Foundation's three strategic initiatives (Layer 1 scaling, Blob scaling, and user experience improvements) as an advisor. Vitalik Buterin retweeted Feist, praising his significant contributions to Ethereum and wishing him success in his new endeavors.
According to Forbes, OpenSea is undergoing a difficult transformation and is currently expanding from its NFT business to a one-stop trading platform for all cryptocurrencies on 22 different blockchains. Data shows that in the first two weeks of October 2025, OpenSea facilitated $1.6 billion worth of cryptocurrency transactions and $230 million worth of NFT transactions, far higher than the total trading volume of $142 million in May. This growth will make October 2025 the month with the largest trading volume in more than three years. Under OpenSea's new plan, it integrates buy and sell orders from decentralized cryptocurrency exchanges such as Uniswap and Meteora. In terms of fees, OpenSea charges about 0.9% for each transaction, generating $16 million in revenue in the past two weeks.
Binance Futures Launches LABUSDT and RIVERUSDT Perpetual Contracts
Binance Futures will launch two new perpetual contracts today: LABUSDT and RIVERUSDT. Trading of the LABUSDT contract will open at 22:30 (UTC+8), while the RIVERUSDT contract will launch at 22:45. Both contracts support up to 50x leverage and multi-asset margin.
LAB is an AI-driven trading infrastructure based on a multi-chain architecture, covering spot, limit and perpetual products; RIVER is the first chain-abstracted stablecoin system that connects cross-ecological liquidity and returns.
MegaETH, an Ethereum Layer 2 project, has repurchased approximately 4.75% of its equity and token warrants from early pre-seed investors. Co-founder Shuyao Kong stated that this "unconventional repurchase," completed before the mainnet and token launch, was intended to optimize the equity structure and token supply, maintaining long-term incentive alignment. The transaction, valued at a higher valuation than its previous seed round (approximately $100 million), was approved by major shareholders including Dragonfly and Echo. Some early investors withdrew due to the fund's closure, leaving the MegaETH team as the sole buyer. The project claims this move helps maintain a "clear equity structure and long-term builder orientation."
MegaETH previously raised over $23 million through two community funding rounds, Echo and the NFT series The Fluffle, and plans to open public token sale registration on Cobie's Sonar platform from October 15th to 27th.
ZEROBASE: ZBT airdrops are now complete, and the project will fully cover the gas fees.
According to ZEROBASE's official announcement, the $ZBT airdrop has now been completed, eliminating the need for users to manually claim or pay gas fees. To ensure fairness and accessibility, the project team has covered all gas costs and distributed tokens directly to eligible user wallet addresses on both networks.
The specific distribution is as follows:
• Ethereum network: 17,043 addresses, with a total of 19,540,974.3 ZBT issued
• BNB Smart Chain: 133,538 addresses, with a total of 459,025.6988 ZBT issued
According to the distribution rules, users holding 10 or more ZBT will receive Ethereum, while those holding less than 10 will receive it via BSC to optimize gas efficiency. Officials stated that all eligible users have received their tokens, and no additional action is required. Tokens will automatically appear in your wallet after on-chain confirmation.
Jupiter Launches Ultra v3 Trading Engine, Providing Better Trade Execution and MEV Protection
Jupiter, an aggregator, has released Ultra v3, its end-to-end trading engine, boasting a 34x improvement in MEV protection, 8-10x reduction in execution fees, and "industry-leading performance" in terms of slippage. The release also introduces a new router called Iris, which can find the best pricing across exchanges like JupiterZ, DFlow, Hashflow, and OKX. Upon release, Ultra v3 will be integrated into all of Jupiter's products, including its mobile and desktop apps, API, and Pro Tools. It also includes enhancements such as gasless support, Ultra signaling, and on-demand market restarts.
Ondo Finance writes to SEC to suspend Nasdaq's tokenized securities plan
According to Cointelegraph, Ondo Finance urged the U.S. SEC to delay or reject Nasdaq’s proposal to trade tokenized securities, arguing that it lacks transparency and could give existing market participants an unfair advantage.
Ondo, a blockchain company that issues tokenized versions of traditional assets, stated in a letter to regulators that without public details on how the Depository Trust Company (DTC) will handle blockchain settlements, regulators and investors cannot fairly evaluate Nasdaq's proposal. DTC is the primary depository for US securities and is responsible for facilitating their post-trade settlement. The company also noted that Nasdaq's regulations cannot take effect until DTC finalizes its system and argued that delaying approval until more features are released is appropriate. It called on the SEC to prioritize "open collaboration and transparent standards" before making a final decision.
OpenSea CEO: Plans to launch SEA token in the first quarter of 2026
OpenSea CEO @dfinzer announced plans to launch the SEA token in Q1 2026. 50% of the supply will be allocated to the community, with over half of that allocated through initial claims. Both OGs and participants in the OpenSea rewards program will receive meaningful rewards. Furthermore, 50% of the revenue generated at launch will be used to purchase SEA. The launch of SEA will provide increased utility and will be deeply integrated with OpenSea, including the ability to stake SEA against users' favorite tokens and collectibles.
According to previous news , OpenSea is transforming into a cryptocurrency trading aggregation platform, and its cryptocurrency trading volume has reached US$1.6 billion so far in October.
Binance Alpha to List SavannaSurvival (SVSA) on October 20
Binance Alpha will officially launch SavannaSurvival (SVSA) on October 20th. Eligible users can claim the airdrop using Binance Alpha Points after trading opens. More details will be announced soon.
Binance Alpha launches the second wave of Merlin Chain airdrops, with a threshold of 240 points
According to an official announcement, Binance Alpha has launched the second wave of Merlin Chain (MERL) airdrops. Users holding at least 240 Binance Alpha Points can claim the token airdrop. Claim 125 MERL tokens on the Alpha event page. The point threshold will automatically decrease by 15 points every hour until all rewards are distributed. Claiming the airdrop will cost 15 Binance Alpha Points. Users must confirm their claim within 24 hours on the Alpha event page; otherwise, they will forfeit the airdrop.
Viewpoints & Analysis
BitMEX co-founder Arthur Hayes wrote on X that Bitcoin is currently "on sale," and warned that if regional bank turmoil in the United States escalates into a systemic crisis, the government may implement financial bailout measures similar to those in 2023. He said he is ready to "buy on the dip" after the bailout and encouraged investors to consider crypto market opportunities if they have idle funds.
Tom Lee: Although the market is in a "cautious" state, it is a good time to buy on dips
Tom Lee, co-founder of Fundstrat and chairman of Ethereum treasury company BitMine, published an article on the X platform analyzing the reasons for the current market's "caution," including: significant deleveraging in the crypto market last week, concerns about a "cockroach crisis" in private credit (JPMorgan Chase CEO Jamie Dimon recently used the metaphor of "cockroaches" to describe potential risks in the US credit market. He pointed out in the earnings conference call that the discovery of one cockroach often means the existence of more of the same kind, a $3 trillion industry with weak regulation and insufficient transparency), and the fact that "market explosions" typically occur in October.
However, Tom Lee pointed out that the negative market sentiment indicates that there will be a counter-trend positive trend. The fact that most fund managers' performance is lower than the industry benchmark means that they will accelerate the pursuit of investment returns before the end of the year. Therefore, his advice is: buy on dips (BTFD: Buy The F**king Dip).
Ethereum co-founder Vitalik tweeted that he hopes more ZK and FHE researchers can give their overhead in the form of a ratio (the time to calculate encryption versus the time to calculate the original data) instead of just saying "we can perform N operations per second."
“This is more hardware-independent and gives a very indicative number: how much efficiency will I lose if my application adopts a cryptographic approach instead of a trust-reliant approach? This is also usually easier to estimate because as a developer I ‘already know’ how long my computation will take, so I can just multiply by that number. (I know this is difficult because the operations required for execution and proof are heterogeneous, especially in terms of SIMD/parallelization and memory access patterns, and the ratio is also somewhat hardware-dependent, but even so, the overhead factor is still a good number)”
Investment and Financing
According to the official Orochi Network blog, the project has secured an additional $8 million in funding, bringing its total raised to $20 million. This round included participation from MEXC Ventures, Plutus VC, Bolts Capital, Ant Labs, and other investors, with funding from the Ethereum Foundation. The funds will be used to build a verifiable data infrastructure for tokenizing RWAs (real-world assets) to meet regulatory requirements such as the EU's Digital Operations Resilience Directive (DORA).
Meanwhile, Orochi officially launched its zkDatabase mainnet, processing over 700 million zero-knowledge proof requests and forming a zkDatabase Alliance with over 120 companies and projects, including Plume, Lumia, and Nexus. This infrastructure provides institutions with audit-level data verification capabilities, facilitating the integration of RWA, AI, and Web3. Founder Chiro Hiro stated that Orochi is becoming a core pillar of Southeast Asia's compliant and verifiable data system.
Huobi founder Li Lin plans to establish a $1 billion Ethereum asset management company
According to Zoomer citing Bloomberg, Huobi founder Li Lin plans to launch an Ethereum treasury asset management company with a scale of approximately US$1 billion , aiming to focus on ETH ecosystem investment and treasury management.
Fortune magazine, citing sources familiar with the matter, reported that Tempo, a payments-focused blockchain project developed by fintech giant Stripe and blockchain venture capital firm Paradigm, has raised $500 million in a Series A funding round led by venture capital giants Greenoaks and Joshua Kushner's Thrive Capital. This round values Tempo at $5 billion, making it one of the highest-valued blockchain venture capital rounds in recent years. Sequoia Capital, Ribbit Capital, and Ron Conway's SV Angel also participated in the round, according to two sources familiar with the matter. Paradigm and Stripe did not participate.
Astra Nova, an AI-focused Web3 entertainment and infrastructure company, has raised $48.3 million to expand its suite of tokenized content tools and creator platform. The funding includes $41.6 million in a recent strategic funding round and builds on earlier investments led by Outlier Ventures, as well as family offices and institutional investors in Saudi Arabia, the UAE, and Bahrain.
The company develops tools that enable creators to launch blockchain-based entertainment experiences without any technical skills. Its flagship product, TokenPlay AI, serves as a code-free launch platform for mini-programs. Powered by Alibaba Cloud, the product enables token-based communities to launch interactive utilities in minutes, according to the company. Other products launched include NovaToon, a Web3 webtoon platform that allows fans to co-create stories using NFTs, and Deviants: Fight Club, a Telegram-based PvP game that integrates Astra Nova's RVV token for in-game rewards.
The company said it plans to enter new markets in the Middle East, Europe, and Asia while preparing for regulatory compliance. Its strategic partners include NEOM, NVIDIA Inception, and Alibaba Cloud.
Arthur Hayes' family office, Maelstrom, plans to raise $250 million in private equity funds
According to Bloomberg, Arthur Hayes' family office, Maelstrom, is planning to raise at least $250 million for its first private equity fund focused on mid-sized cryptocurrency companies. The fund plans to invest $40 million to $75 million per deal and acquire up to six companies. The focus will be on service providers, including those offering trading infrastructure and analytical platforms.
Important data
According to on-chain analyst Ember, three new wallets suspected to belong to Bitmine have received 72,898 ETH ($279 million) from FalconX and BitGo over the past five hours, a pattern consistent with Bitmine's previous ETH receiving patterns. Bitmine has likely accumulated 203,433 ETH ($800 million) this week, at an average price of approximately $3,935. These coins originated from various sources, including CEXs, market makers, and ETFs, then flowed into OTC institutions like FalconX and BitGo, before ultimately reaching Bitmine addresses.
Six hacker wallets recently lost over $13.4 million by buying high and selling low on ETH
According to Lookonchain, multiple hackers panic-sold 7,816 ETH (worth $29.14 million) at $3,728 during the market downturn, resulting in a further loss of $3.37 million. Six hacker wallets have recently lost over $13.4 million by buying high and selling low on ETH.
According to SoSoValue data, yesterday (October 17, Eastern Time), the total net outflow of Ethereum spot ETF was US$232 million.
The Ethereum spot ETF with the largest single-day net outflow yesterday was Blackrock's ETF ETHA, with a single-day net outflow of US$146 million. Currently, ETHA's total historical net inflow has reached US$14.243 billion.
The second is Fidelity ETF FETH, with a single-day net outflow of US$30.6052 million. The current historical total net inflow of FETH has reached US$2.786 billion.
As of press time, the total net asset value of the Ethereum spot ETF was US$25.981 billion, the ETF net asset ratio (market value as a percentage of Ethereum's total market value) reached 5.58%, and the historical cumulative net inflow has reached US$14.597 billion.
According to SoSoValue data, yesterday (October 17, Eastern Time), the total net outflow of Bitcoin spot ETFs was US$367 million.
The Bitcoin spot ETF with the largest single-day net outflow yesterday was Blackrock ETF IBIT, with a single-day net outflow of US$269 million. Currently, the total historical net inflow of IBIT has reached US$64.982 billion.
The second is Fidelity ETF FBTC, with a single-day net outflow of US$67.366 million. Currently, FBTC's total historical net inflow has reached US$12.545 billion.
As of press time, the total net asset value of the Bitcoin spot ETF was US$143.935 billion, the ETF's net asset ratio (market value as a percentage of the total market value of Bitcoin) reached 6.75%, and the historical cumulative net inflow has reached US$61.539 billion.
A wallet associated with the Ethena founder bought 48 million ENA from CEX in the past three days.
According to Onchain Lens monitoring, a multi-signature wallet associated with GC.Rule (founder of Ethena) has transferred a total of 48 million ENA from Binance and Bybit in the past three days, worth US$20.41 million.
Tether Gold's market capitalization exceeds $2 billion, hitting a record high
According to data shared by Tether CEO Paolo Ardoino on the X platform, the market capitalization of Tether's gold-backed stablecoin, Tether Gold (XAUT), has surpassed $2 billion, reaching $2,213,783,821, a new all-time high, with a circulating supply of 522,089 coins. Furthermore, the total market capitalization of the tokenized gold sector has surpassed $3.95 billion, reaching a new high of $3,950,937,387, representing a 24-hour increase of 15.4%.
