Today's news tips:
Payment Infrastructure Pieverse Launches x402b Protocol to Enable Gas-Free Payments on BNB Chain
Indian Court Recognizes Cryptocurrency as Property, Bans WazirX from Redistributing XRP Tokens
MtGox repayment deadline extended to 2026
Hong Kong media: Ant Group has applied for "ANTCOIN" and other Web3-related trademarks in Hong Kong
Bensant: The US is no longer considering imposing 100% tariffs on China
ZEC's market capitalization exceeds $6 billion, setting a new record high
Macro
Indian Court Recognizes Cryptocurrency as Property, Bans WazirX from Redistributing XRP Tokens
According to Decrypt, an Indian court has ruled that cryptocurrencies are legally considered property. Last Friday, the Madras High Court prohibited WazirX, India's largest crypto exchange, from redistributing 3,532 XRP tokens held by a customer to offset losses from the $234 million hack of the platform last July. Judge N.N. Anand Venkatesh ruled that the user's XRP tokens, purchased in January and unaffected by the incident, could not be diluted under the exchange's "socialization of losses" plan. The ruling also established that assets held by the exchange for safekeeping must be considered customer property held in trust. The court rejected WazirX's "socialization of losses" plan, which proposed to distribute the $234 million loss proportionally among all users, likening it to "group insurance for self-help groups." The court also rejected WazirX's argument that its restructuring, approved by a Singapore court, was automatically binding on Indian users. The ruling came the same day WazirX resumed operations after receiving approval from 95.7% of its creditors. As of now, users have received only 30% of their expected funds due to account locks and customer verification delays.
MtGox repayment deadline extended to 2026
Nobuaki Kobayashi, the restructuring trustee for MtGox Co., Ltd. in Mentougou District, announced that the repayment deadline, originally set for October 31, 2025, has been extended to October 31, 2026. This court-approved change provides more time for creditors who have not yet completed relevant procedures or have not received repayment due to process issues. The announcement states that, with the exception of certain types of repayments, basic repayments, early lump-sum repayments, and interim repayments have been largely completed, but a significant number of creditors remain unreceived due to incomplete procedures or issues.
Hong Kong media: Ant Group has applied for "ANTCOIN" and other Web3-related trademarks in Hong Kong
According to the Hong Kong Economic Journal, after reviewing the documents, it was found that Ant Group has applied to register a series of trademarks related to virtual assets, stablecoins, and blockchain in Hong Kong, including "ANTCOIN", which may be a pre-deployment for the development of related businesses in the future, aiming to expand businesses beyond traditional payments and deepen into the field of financial technology.
Financial Giant Western Union to Pilot Stablecoin-Based Settlement System
According to Cointelegraph, financial services company Western Union plans to pilot a stablecoin-based settlement system to modernize its remittance services for over 150 million customers. During Western Union's third-quarter earnings call on Thursday, CEO Devin McGranahan stated that the pilot "aims to utilize on-chain settlement channels, reduce reliance on the traditional correspondent banking system, shorten settlement cycles, and improve capital efficiency." McGranahan stated that Western Union initially refrained from entering the cryptocurrency space due to concerns about volatility, regulatory uncertainty, and customer protection, but the passage of the GENIUS Act changed that course. Western Union stated that the stablecoin service will provide customers with more choice and control over how they manage and transfer their funds, particularly for those in countries with high inflation.
Bensant: The US is no longer considering imposing 100% tariffs on China
According to Global News, on October 26, the Chinese and US trade teams concluded two days of consultations in Kuala Lumpur, the Malaysian capital. Reuters reported that this was the fifth face-to-face consultation between the two teams since May. Following the meeting, US Treasury Secretary Bensont stated in an interview with US media that the two-day talks in Kuala Lumpur resulted in a "very substantive framework agreement" and that the US was "no longer considering" imposing 100% tariffs on China.
Viewpoint
Solana co-founder Toly, in a post on the X platform, pointed out that the current Layer 2 network suffers from fundamental security issues. He believes that building a complete Layer 2 network is complex and subject to a wide range of attack vectors, making it difficult to guarantee vulnerability-free and fully functional. Consequently, existing Layer 2 networks generally employ upgraded multi-signature mechanisms, but this renders all security guarantees meaningless. Toly emphasized that Layer 2 and the cross-chain bridge Wormhole face the same extreme risk: multi-signatures can mobilize all bridged funds. In contrast, validators on chains like Sui cannot unilaterally change the state without coordination from major exchanges and RPC nodes, even if they have 100% staked. Layer 2 multi-signatures, however, can directly upgrade bridge contracts and transfer funds. He explicitly refuted the claim that Layer 2 inherits Ethereum's security, pointing out that five years after the L2 roadmap was implemented, Solana's Wormhole-bridged Ethereum funds face the same extreme risks as those on the Base chain, while generating comparable returns for Ethereum L1 stakers. Toly believes that Layer 2's insurmountable security issues are the reason it has failed to achieve true security over the past five years.
Project News
Hold at least 210 Binance Alpha Points to claim a 200 Semantic Layer Token 42 airdrop
Binance announced that the Alpha platform will be the first platform to launch Semantic Layer (42). Alpha trading will officially launch at 18:00 (Beijing time) on October 27, 2025. During the event, users holding at least 210 Binance Alpha points can apply for a 200 42 token airdrop on a first-come, first-served basis. If the event continues, the points threshold will automatically decrease by 15 points every hour. Previous news reported that Binance Alpha will launch XNAP, COMMON, and 42 airdrops on October 27.
Binance Alpha will list SnapX (XNAP) today at 3:00 PM, with an airdrop threshold of 230 points.
According to an official announcement, Binance Alpha will list SnapX (XNAP). Trading on Alpha will begin at 15:00 (UTC+8) on October 27, 2025. After trading begins, users holding at least 230 Binance Alpha Points will be eligible to claim an airdrop of 500 XNAP tokens. This airdrop will be available on a first-come, first-served basis. The minimum score will automatically decrease by 15 points every hour until the event ends. Please note that 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.
Payment Infrastructure Pieverse Launches x402b Protocol to Enable Gas-Free Payments on BNB Chain
Pieverse, a Web3 payments and compliance infrastructure startup, announced the launch of the x402b protocol. This protocol, extended by the Pieverse Facilitator, addresses gasless payments and auditing challenges on BNB Chain. Core improvements to the x402b protocol include: Gasless Payment Support: Because major stablecoins on BNB Chain, such as USDT, do not support EIP-3009, Pieverse has launched pieUSD, a 1:1 USDT wrapped token that supports EIP-3009, enabling a truly gasless payment experience. Users only need to sign messages, eliminating the need for gas fees. Audit and Tax Support: Using a custom facilitator, x402b automatically generates jurisdiction-compliant receipts upon payment settlement and immutably stores them on BNB Greenfield, meeting the audit and tax needs of businesses and professionals. Previously, on October 24th, Pieverse announced the completion of a $7 million funding round led by Animoca Brands and UOB Venture.
GMGN Lianchuang: Compensation has been issued to users affected by the MEV attack
GMGN co-founder Haze posted on the X platform that the team has completed compensation payments to users affected by the MEV attack. He pointed out that GMGN suffered a MEV attack 48 hours ago, affecting 729 transactions. The team has calculated the losses and distributed compensation to the relevant user wallets yesterday.
Helius Labs CEO Mert announced on the X platform that they are forming a new, independent core team for Zcash. This team will focus on scalability and security, aiming to create a "Manhattan Project" for privacy-focused currencies. The team is currently recruiting a CEO, lead engineer, and researchers.
According to SolanaFloor, after being acquired by Pump.fun, trading terminal Padre announced that PADRE token holders will receive PUMP tokens based on their holdings, as recorded in the October 24th snapshot. Holders must submit their Solana wallet addresses by December 30th to claim the tokens. This move follows backlash from Pump.fun's tweet announcing the acquisition, which stated that PADRE tokens "will no longer have utility on the platform."
Important data
According to on-chain analyst Ember, after the 0xbBF address withdrew 1.619 million LINK ($28.39 million) from Binance, a newly created wallet withdrew 998,000 LINK ($18.33 million) from Binance over the past day. These two wallets (presumably belonging to the same whale/institution) have withdrawn a total of 2.617 million LINK ($46.72 million) from Binance over the past nine days, at an average price of $17.8.
According to Lookonchain monitoring, whales continue to accumulate LINK tokens. Since the market crash in 1011, 39 new wallets have withdrawn 9.94 million LINK (worth US$188 million) from Binance.
According to the latest data from Coingecko, the total market capitalization of the x402 ecosystem token continues to rise, now exceeding $800 million to $800,196,550, a 24-hour increase of 361%. BNKR's market capitalization is approximately $62.6769 million, a 24-hour increase of 16.4%, and PAYAI's market capitalization is approximately $60.6352 million, a 24-hour increase of 143%. x402 is an open protocol that defines an internet-native micropayment channel based on HTTP 402 and stablecoins. This allows automated clients and AI agents to pay for APIs, data, and computation on demand, enabling real-time, low-friction, and intermediary-free transactions.
A whale sold 45.5 million TRX and bought 3332.6 ETH in the past 6 hours.
According to Onchain Lens, a whale sold 45.5 million TRX (worth $13.6 million) in the past six hours and bought 3,332.6 ETH at an average price of $4,084. Over the past three months, this whale has sold a total of 629.27 million TRX (worth $217.3 million) and bought 48,390 ETH at an average price of $4,490. This TRX was withdrawn from #Binance.
A whale sold another 5,000 ETH, bringing the total to 15,000 ETH in the past 40 days.
According to Lookonchain, as ETH prices rebounded, whale 0xb927 sold another 5,000 ETH (worth $21 million) two hours ago. Over the past 40 days, the whale has sold a total of 15,000 ETH (worth $65.5 million) at an average price of $4,366.
ZEC's market capitalization exceeds $6 billion, setting a new record high
According to the latest data from Coingecko, the market capitalization of Zcash's native token, ZEC, has surpassed $6 billion, currently trading at $6,038,447,911, reaching a new all-time high. ZEC is currently trading at $370.24, a 28% increase over the past 24 hours. Zcash is reportedly scheduled to undergo a halving next month, which is expected to significantly reduce its issuance.
A whale holding a 5x long position in HYPE currently has a floating profit of $9.5 million
According to Onchain Lens, with HYPE trading at approximately $48 following its Robinhood listing, a whale holding a 5x long position in HYPE currently has a floating profit of $9.5 million. The whale also holds smaller long positions in PURR, 0G, XPL, and 2Z, bringing their total profit to $11.47 million.
According to Onchain Lens, Richard Heart (founder of HEX and PulseChain) has transferred a total of 30,066 ETH (worth $125.09 million) to a new wallet. Of this, 29,804 ETH (worth $124 million) was transferred via TornadoCash.
According to The Block, according to Glassnode data, approximately 62,000 Bitcoin (worth approximately $7 billion) has been moved out of long-inactive wallets since mid-October, marking the first significant drop since the second half of 2025. This reduces Bitcoin's illiquid supply and may make it more difficult for price gains to build. However, Glassnode noted, "Interestingly, whale wallets have actually been accumulating Bitcoin during this period, with their holdings increasing over the past 30 days and having largely refrained from significant selling since October 15th." Furthermore, wallets holding approximately $10,000 to $1 million worth of Bitcoin have seen the largest outflows, having consistently sold since November of last year. Glassnode wrote, "Momentum buyers have largely exited the market, while bargain hunters have failed to generate sufficient demand to absorb this supply. With the number of first-time buyers remaining flat, this supply-demand imbalance will continue to pressure prices until stronger spot demand emerges." The decline in Bitcoin prices has been accompanied by a similar decline in the proportion of Bitcoin in circulation that is profitable. Currently, about 82.3% of the supply is profitable, up from the year-to-date low of 76.0% in April.
Institutional holdings
Regarding the claim that "Sharplink Gaming has added another 19,271 ETH to its reserves," on-chain analyst Yu Jin stated that these ETH were not purchased in the past two days, but rather on October 17th. They raised $76.5 million through a share placement on October 17th, and then purchased these 19,271 ETH at $3,892. SharpLink currently holds a total of 859,853 ETH (worth $3.58 billion), with an average cost of $3,609. This represents a current unrealized profit of $480 million.
