Today's news tips:
World Liberty Fi destroyed 175 million WLFI in the early morning, worth $26.72 million
Monad: Airdrop distribution results will be announced tomorrow
Macro
According to the Zhuifeng Trading Desk, Citigroup released a research report on October 27th, lowering its gold price target for the next 0-3 months from $4,000 to $3,800, citing key technical support at the 100-day moving average of approximately $3,600. The report attributes the downward trend in gold prices to easing geopolitical risk expectations and potential selling pressure from substantial unrealized gains. Furthermore, expectations of an end to the US government shutdown have exacerbated the shift in gold's price momentum. Despite its short-term bearish outlook, Citigroup emphasizes the robust value of gold as a long-term strategic hedge, noting that the Federal Reserve's policy direction and the performance of the US economy will be key variables in gold's rebound.
According to CCTV News, Beijing police recently uncovered a bizarre transaction involving an image of a counterfeit currency master. The police concluded that the buyer was likely printing counterfeit currency. Following this lead, the police arrested 15 suspects, dismantled eight counterfeiting operations, and seized over 2.5 million yuan in counterfeit currency. The suspects in this case were all born after 2000, and some were minors. They first learned counterfeiting techniques using overseas software, then used printers to produce counterfeit currency, which they then sold using virtual currency. The suspects not only produced the counterfeit currency themselves but also taught counterfeiting techniques, profiting from the process.
ZhongAn Bank launches Hong Kong stock trading service, supports virtual asset ETFs, etc.
According to Sina Finance, ZhongAn Online announced that its digital bank ZhongAn Bank has officially launched Hong Kong stock trading services. It is reported that the Hong Kong stock trading service launched this time supports all market Hong Kong stocks, virtual asset ETFs and other products. In addition, ZhongAn Bank also disclosed that it achieved semi-annual profits for the first time in the first half of this year.
According to Yonhap News Agency, South Korean People's Power Party lawmaker Park Sung-hoon will spearhead a proposal to amend the Foreign Exchange Transactions Act, formally including stablecoins as legally recognized means of payment. This move aims to fill regulatory gaps in current regulations and eradicate the use of stablecoins for money laundering, tax evasion, and other illegal activities. The amendment explicitly adds stablecoins as a means of payment in Article 3, Paragraph 1, "Definitions." This means that stablecoins will have the same legal status as traditional payment instruments such as South Korean government banknotes, banknotes, and coins. This legislative move echoes concerns raised by the Bank of Korea. In a recent written opinion submitted to the National Assembly, the Bank of Korea expressed concern about the potential risks of US dollar stablecoins, noting that they "may bypass the reporting procedures required by the Foreign Exchange Transactions Act and be used for inter-state current and capital account transactions."
According to The Block, people familiar with the matter said that the Grayscale Solana Trust ETF plans to be listed on Wednesday. Earlier news also indicated that the Bitwise Solana staking ETF will be listed on the New York Stock Exchange on Tuesday. Canary Capital will launch the first US ETFs tracking Litecoin and HBAR on Nasdaq on Tuesday.
Canary Capital will launch the first U.S. ETFs tracking Litecoin and HBAR on Nasdaq on Tuesday.
Canary Capital will launch two exchange-traded funds (ETFs), one tracking Litecoin (LTC) and the other Hedera (HBAR), marking the first listings of their kind in the United States, according to The Block. According to a statement from the company, it plans to launch the Canary Litecoin ETF and the Canary HBAR ETF on Nasdaq on Tuesday. This follows earlier news today that the Bitwise Solana staking ETF will be listed on the New York Stock Exchange on Tuesday.
Bitwise Solana Collateralized ETF to List on the New York Stock Exchange on Tuesday
According to The Block, asset management company Bitwise announced on the X platform that it will launch the Bitwise Solana Collateralized ETF on the New York Stock Exchange on Tuesday, under the ticker symbol BSOL. The company stated that this is the first ETP to be "100% directly invested in spot SOL." A week after the US government shutdown, the SEC issued guidance clarifying the listing procedures for companies' cryptocurrency ETFs. The SEC stated that companies can submit S-1 registration statements for listing without delaying amendments, and with companies submitting final S-1 registration statements, this means that they can take effect within 20 days. Before the shutdown, the SEC approved the listing standards of three exchanges and amended relevant rules, which may speed up the approval of dozens of cryptocurrency ETF applications. Companies that hope to launch cryptocurrency ETFs without SEC approval need to meet the listing standards. To launch an ETF, companies need to submit the final S-1 registration statement and Form 8-A, and some of these submissions have already begun.
According to Jinshi, US President Trump said on Monday that he may announce his nominee to succeed Federal Reserve Chairman Jerome Powell before the end of the year. Powell's term ends in May of next year, and the field has been narrowed down to five finalists. Treasury Secretary Bensoner plans to conduct a second round of interviews with the current slate of candidates next month and then submit a more streamlined list of nominees to the president for his consideration. Bensoner revealed on Monday that the five finalists include two current Federal Reserve Board members initially nominated by Trump: Christopher Waller and Michelle Bowman, who also serves as Vice Chairman for Bank Supervision. Two candidates are currently widely considered the frontrunners: Kevin Hassett, Director of the White House National Economic Council, and Kevin Warsh, a former Federal Reserve Board member. The fifth candidate on the list is Rick Rieder, a senior BlackRock executive who oversees the company's large bond business.
According to Watcher.Guru, U.S. Congressman Ro Khanna will introduce a bill that would ban the president and elected officials from holding or creating cryptocurrencies.
According to Bloomberg, S&P Global Ratings has assigned Strategy (formerly MicroStrategy) a junk credit rating, citing several weaknesses, including high cryptocurrency concentration, a narrow business scope, weak risk-adjusted capitalization, and insufficient U.S. dollar liquidity. The ratings company stated in a statement on Monday that it has been assigned a B- rating, six notches below investment grade, with a stable outlook. In a post on X, co-founder Michael Saylor noted that this is the first credit rating a Bitcoin asset company has received in the past five years. S&P credit analysts noted that Strategy holds approximately $74 billion in Bitcoin at fair value, acquired through debt and equity issuance. While S&P commended the company's "prudent" management of convertible bonds, it expressed concerns about the liquidity risk of its debt arrangements. Strategy has issued nearly $15 billion in convertible bonds and preferred stock, including $5 billion in at-the-money convertible bonds that will mature starting in 2028. The company also has to pay more than $640 million in preferred stock dividends annually through October 2025. S&P highlighted liquidity risks associated with the company's convertible bonds and preferred stock dividends, noting that Strategy's convertible bonds could mature at the same time as Bitcoin prices come under pressure.
Project News
Upbit will list KERNEL trading pairs
Upbit will list KERNEL trading pairs against the Korean won.
BitcoinOS (BOS) to be Listed on Binance Alpha
Binance Alpha will officially launch BitcoinOS (BOS) on October 29th. Eligible users can claim the airdrop using Binance Alpha Points once trading opens on the Alpha promotion page. More details will be announced soon.
GMGN: Recently suffered an external phishing attack and will fully compensate the affected users
GMGN co-founder Haze (@haze0x) posted on the X platform that GMGN recently experienced an external phishing attack. The attacker used a forged third-party token website to trick users into clicking on it and trigger unauthorized transactions. The issue has been completely resolved, the affected accounts have been restored to security, and similar phishing attacks have been completely blocked. This incident affected approximately 107 users. GMGN will fully compensate for the related losses and will be paid to users' GMGN accounts today.
According to the "2025 Hengchang Shaofang Hurun Rich List" released by the Hurun Research Institute, Binance founder Changpeng Zhao ranked 13th on the list with a wealth of 190 billion yuan, up 3 places from last year, and his wealth increased by about 41% compared with last year.
The GoPlus Chinese community has issued a security alert regarding a suspected theft of the x402 cross-chain protocol @402bridge. The creator of the contract starting with 0xed1A transferred the owner to the address 0x2b8F. The new owner then called the transferUserToken method in the contract to transfer all remaining USDC from authorized user wallets. Authorization of USDC to the @402bridge contract is required before minting. This resulted in over 200 users having their remaining USDC transferred due to excessive authorization. A total of 17,693 USDC was transferred from the 0x2b8F address. The USDC was subsequently converted to ETH and transferred to Arbitrum via multiple cross-chain transactions. Users who have participated in the project are advised to cancel any related authorizations as soon as possible. Users are reminded to verify that the authorized address is the official address of the interactive project before authorizing, and to only authorize the required amount, rather than unlimited authorizations. Users should also regularly review authorizations and cancel any unused authorizations.
Yuga Labs to Launch Otherside’s Social Hub Koda Nexus and Amazon Co-branded NFT Characters
According to Decrypt, Yuga Labs announced that Koda Nexus, the core social hub of its Bored Ape Yacht Club-themed metaverse project, Otherside, will officially open on November 12th. The hub's open and social hub is only the first of a three-tiered architecture for the world. Next up is the gaming layer, which will feature numerous quests and battles created by developers and independent creators; and the Otherside Development Kit (ODK), a toolset for building and publishing works within the game world. Yuga Labs also revealed that Otherside will be featured on the Amazon Gaming homepage, promoting its metaverse brand to Amazon's millions of customers. The company will collaborate with Amazon to launch an exclusive co-branded Voyager character named "Boximus," who can explore the Otherside metaverse. Related merchandise will be available in the Otherside brand store starting Thursday. Yuga has also collaborated with artist Daniel Arsham to launch a limited-edition 300-piece Voyager collectible collection, combining beautiful artwork with interactive digital collectibles that evolve over time.
World Liberty Fi destroyed 175 million WLFI in the early morning, worth $26.72 million
According to analyst Emmett Gallic, the Trump family's encryption project World Liberty Fi destroyed 175 million WLFI (worth US$26.72 million) early this morning.
Coinbase to List CLANKER Perpetual Contracts
Coinbase Markets announced that perpetual futures trading for the CLANKER token robot will launch on October 29, 2025. Subject to meeting liquidity requirements, the CLANKER-PERP market will launch on or after 6:00 PM Beijing time on October 29 in supported regions. Retail traders in some jurisdictions can access perpetual futures trading through the Coinbase Advanced platform. Institutional investors in some jurisdictions can participate in perpetual futures trading directly through the Coinbase International site.
MegaETH public sale has raised $412 million so far, 8.2 times oversubscribed
According to official data, the MegaETH public sale has currently raised $412 million (bid requirement, the actual upper limit is $50 million), with an oversubscription of 8.2 times. The public sale will end in 2 days, 11 hours and 30 minutes.
Trump-backed stablecoin USD1 partners with Enso to expand its DeFi footprint across multiple chains
According to DL News, USD1, the stablecoin associated with US President Trump, is deepening its ties with DeFi. Enso, a provider of a "shortcut" for cross-chain deployment of crypto projects, announced on Monday that USD1 is the latest project to adopt its technology stack. Enso's technology allows crypto projects to easily deploy across different blockchains. Enso founder Connor Howe stated that this will "make DeFi more attractive to major players, including institutions, enabling them to leverage deep liquidity and optimal pricing." According to the announcement, Enso's goal is to "make USD1 ubiquitous on-chain and distribute its liquidity to protocols across different blockchains." Following the partnership with Enso, USD1 will be available on margin trading protocols such as Dolomite, allowing users to trade, borrow, and transfer the stablecoin across different blockchains.
Grayscale announces that its Solana Trust now supports staking
Grayscale announced on the X platform that the Grayscale Solana Trust (ticker: GSOL), the largest publicly traded spot Solana fund in the United States, now offers SOL investment exposure and supports staking in select US brokerage accounts.
Monad: Airdrop distribution results will be announced tomorrow
Monad posted on the X platform: “The results of the airdrop distribution will be announced tomorrow.”
Coinbase partners with Apollo to expand stablecoin lending
According to The Block, Coinbase Asset Management announced on Monday that it has partnered with Apollo Global Management, one of the world's largest asset management firms, to expand the crypto exchange's stablecoin lending services portfolio. According to the statement, Coinbase Asset Management and Apollo will jointly explore strategies including overcollateralized lending, direct corporate lending, and tokenized credit asset holdings. These services will allow users to borrow against their digital assets, lend directly to borrowers, and offer "tokenized investment products with access to Apollo-managed credit strategies." Apollo and Coinbase plan to launch the credit investment products next year. Coinbase already allows some US customers to borrow up to $100,000 against their digital assets.
Important data
KERNEL rose 35% in a short period of time, reaching a high of $0.267
According to Binance market data, KERNEL surged 35% in a short period of time and is currently priced at $0.23, having reached a high of $0.267. Earlier news also surfaced that Upbit would be listing KERNEL trading pairs against the Korean won.
A whale has accumulated 894 BTC from Kraken in the past five days, worth approximately $102 million.
According to Onchain Lens, a whale has accumulated 894 BTC (worth $101.82 million) from Kraken in the past five days.
According to SoSoValue data, Ethereum spot ETFs saw a total net inflow of $134 million yesterday (October 27th, EST). The Blackrock ETF ETHA saw the largest single-day net inflow, with $72.49 million, bringing ETHA's total net inflow to $14.226 billion. The second largest single-day net inflow was the Bitwise ETF ETHW, with a daily net inflow of $22.59 million, bringing ETHW's total net inflow to $430 million. As of press time, the total net asset value of Ethereum spot ETFs stood at $28.354 billion, with a net asset value ratio (market capitalization relative to Ethereum's total market capitalization) of 5.69%, and cumulative net inflows reaching $14.487 billion.
According to SoSoValue data, Bitcoin spot ETFs saw a total net inflow of $149 million yesterday (October 27th, EST). The Bitcoin spot ETF with the largest single-day net inflow yesterday was the Ark Invest and 21Shares ETF ARKB, which saw a net inflow of $76.401 million, bringing ARKB's total net inflow to $2.187 billion. The second largest daily inflow was the Blackrock ETF IBIT, which saw a net inflow of $65.266 million, bringing IBIT's total net inflow to $65.371 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $155.888 billion, with a net asset value ratio (market capitalization relative to the total Bitcoin market capitalization) of 6.83%, and cumulative net inflows to $62.134 billion.
BlackRock's IBIT reached $70 billion in assets under management in just 341 days
According to Coinvo data, BlackRock's Bitcoin ETF "IBIT" reached US$70 billion in assets under management (AUM) in just 341 days.
Financing/Acquisition
Dmitry Tokarev, founder of London-based cryptocurrency custodian Copper Technologies Ltd., has launched a new company, Bron Labs, to address the security risks of self-custody of digital assets. Bron Labs is a self-custody platform designed to provide consumers and professionals with advanced security previously available only to large enterprises. Tokarev revealed that Bron Labs secured approximately $15 million in funding earlier this year from approximately 140 individuals and institutions, including LocalGlobe, Fasanara Digital, and GSR.
Kite AI, a public blockchain project focused on AI payments, announced a strategic investment from Coinbase Ventures. According to official information, this funding follows Kite's recent $33 million funding round, led by PayPal Ventures and General Catalyst. The new funds will support the development of its own AI-powered payments infrastructure and accelerate the mass adoption of the x402 protocol in collaboration with Coinbase. Kite is reportedly designed from the ground up to natively integrate with Coinbase's x402 agent payment standard. As one of the first Layer 1 blockchains to fully implement x402-compatible payment primitives, Kite enables AI agents to directly initiate, receive, and reconcile payments through standardized intent authorization, establishing Kite as the native execution and settlement layer for the x402 protocol and the emerging agent economy.
Institutional holdings
Metaplanet Establishes Share Buyback Program to Improve Capital Efficiency and Maximize BTC Returns
Metaplanet, a Japanese Bitcoin treasury company, announced that at its board of directors meeting on October 28, 2025, the company resolved to establish a share repurchase program. Recognizing that its share price currently underrepresents the company's intrinsic economic value due to increased market volatility and declining mNAV, the company established this program as part of its prudent capital allocation policy. The program aims to maximize Bitcoin yields and improve capital efficiency, particularly during periods when mNAV is below 1.0x. To facilitate the flexible execution of the repurchase program, the board of directors approved a credit facility with a maximum borrowing capacity of US$500 million (approximately 76.4 billion yen). Borrowings using Bitcoin as collateral can be executed promptly at the company's discretion. Proceeds raised can be used for further Bitcoin acquisitions, investments in Bitcoin-based businesses, or share repurchases. Furthermore, this facility forms part of the company's broader financial strategy and is expected to serve as a bridge to its planned future issuance of preferred stock.
Beckham-Backed Prenetics Raises $48 Million to Advance Bitcoin Treasury
According to CoinDesk, David Beckham-backed health science company Prenetics (PRE) has raised $48 million in an oversubscribed equity funding round to expand its wellness brand IM8 and advance its Bitcoin reserve strategy. Prenetics stated in an emailed announcement on Monday that the exercise of warrants could bring total funding to $216 million. The funding round attracted investors including Kraken, Exodus (EXOD), GPTX, and American Ventures. CEO Danny Yeung stated that the funds will support IM8's global expansion while accumulating one Bitcoin per day, aiming to reach $1 billion in both revenue and Bitcoin holdings within five years. Data shows that the company currently holds 268.4 Bitcoins (valued at $30.9 million).
According to Cointelegraph, U.S. Republican Senator Thom Tillis warned that Congress must pass cryptocurrency legislation by January or February next year, otherwise electoral politics will hinder the legislative process.
According to The Block, Ethereum finance company ETHZilla (ticker: ETHZ) has sold approximately $40 million worth of its ETH holdings to fund share repurchases. ETHZilla's board of directors authorized a share repurchase program of up to $250 million in August. Since selling ETH on October 24th, ETHZilla has spent approximately $12 million to repurchase approximately 600,000 shares of common stock. The company stated in a press release on Monday that "ETHZilla plans to use the remaining proceeds from the sale of ETH for additional share repurchases and intends to continue selling ETH to repurchase shares until the discount to its net asset value (NAV) normalizes." Chairman McAndrew Rudisill stated that the company will continue to repurchase shares when ETHZ's "share price is trading at a significant discount to its net asset value," a move that both reduces the number of common shares outstanding and increases its NAV valuation. Monday's announcement revealed that the company still holds approximately $400 million worth of ETH on its balance sheet.
