Morning Report | Analysis: The Democratic Party may regain Congress, cryptocurrency legislation may shift to regulatory scrutiny; Samara CEO: Bitcoin treasury company harms shareholder interests

Compiled by: ChainCatcher

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What important events have occurred in the past 24 hours?

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### Analysis: Democrats May Regain Congress, Crypto Legislation May Shift to Regulatory Review

According to ChainCatcher, as reported by The Block, the digital asset industry may face changes in the political landscape of Congress as the U.S. midterm elections approach. Over the past two years, the Republican-led Congress passed the stablecoin legislation GENIUS Act and advanced the broader Clarity Act; the latter passed the House in 2025 but stalled in the Senate due to controversies over stablecoin rewards and ethical issues raised by Trump’s crypto wealth. Prediction market Kalshi shows a 64% chance of Democrats winning the Senate and a 90% chance of winning the House.

Committee chairs in Congress hold the power to set the agenda. If Democrats regain the Senate, Elizabeth Warren will become the chair of the Senate Banking Committee. Ron Hammond, head of policy and advocacy at Wintermute, expects her to actively use subpoena power and may focus on scrutinizing the Office of the Comptroller of the Currency's approval of new bank charters for Ripple, Coinbase, and World Liberty Financial, which is supported by the Trump family.

The election situation in Ohio is also under scrutiny, with former Senate Banking Committee chair Sherrod Brown facing pro-crypto Republican Jon Husted. Fairshake PAC has pledged $30 million to support Husted.

Hammond stated that if Brown wins, he may become the chair of the Senate Agriculture Committee, which could potentially shelve related crypto legislation. In the House Financial Services Committee, whether led by Maxine Waters, Sean Casten, or Bill Foster, the Clarity Act is unlikely to advance. Lindsay Fraser, chief policy officer of the Blockchain Association, noted that while control of Congress may change, the demand for clear crypto regulations will not.

### Samara CEO: Bitcoin Treasury Companies Harm Shareholder Interests

According to ChainCatcher, as revealed by Bitcoin Magazine, Patrick Lowry, CEO of Samara Asset Group, an asset management company that holds Bitcoin as a primary treasury reserve, expressed his disdain for the term "Bitcoin treasury companies" and believes the current market is rejecting all pure treasury strategies except for Strategy.

He described "digital gold" as poor marketing, turning Bitcoin into an investment rather than a currency, which is also why Bitcoin's price fell when the Federal Reserve discussed interest rate hikes. Lowry explained that Samara uses Bitcoin as operating capital rather than merely holding it. The company allocates committed funds from its risk fund to Bitcoin and liquidates at market price when capital calls are needed, regardless of price fluctuations.

He mentioned that holding Bitcoin presents a threshold yield issue, which could harm shareholder interests. He also discussed MSCI's decision on non-operating companies, loopholes in the 1940 Investment Company Act, and the potential impact of a rebound in altcoin treasuries. Lowry criticized the regressive regulatory environment in Europe, mentioning BaFin, the first Bitcoin ETP, and the issues of over-regulation post-Merkel.

### Glassnode: Bitcoin Volatility Drops to Summer 2023 Levels, Fed Decision May Trigger Next Market Cycle

According to ChainCatcher, Glassnode's latest report indicates that Bitcoin has fallen back below the $84,000 to $85,000 range, which has blocked price increases four times this year. The inflow of funds into U.S. spot Bitcoin ETFs has significantly cooled, with a net inflow of only about $67 million over the past two weeks; major buy orders on Binance's spot order book have also shifted down to the $78,000 to $79,000 range, totaling about $42 million.

Meanwhile, Bitcoin's one-month realized volatility has dropped to about 25%, returning to summer 2023 levels; since August, the realized losses triggered by each decline have continued to narrow, indicating reduced selling pressure.

Glassnode believes Bitcoin is currently in a range-bound state with weak demand and limited selling pressure, as the market focuses on the Federal Reserve's interest rate decision. If the daily close re-establishes above $85,000, it may signal the beginning of further rebounds; if it falls below the average cost of active investors around $77,900, attention should be paid to the short-term holder cost support near $75,800.

### Mirae Asset Securities Hong Kong Subsidiary Completes Tokenized Note Issuance on Solana

According to ChainCatcher, market news reports that Mirae Asset Securities (HK), a Hong Kong subsidiary of South Korea's Mirae Asset Securities, announced the completion of a tokenized financing note issuance on the Solana blockchain for qualified institutional investors.

The note is denominated in U.S. dollars, has a six-month term, and is a floating-rate note included in the company's $3 billion secured structured note program.

Marketnode, a regulated digital market infrastructure operator in Singapore, acts as the authorized distributor, with support from the Solana Foundation. Mirae Asset is responsible for token issuance, payments, and full lifecycle management. The note is only offered through private placements to professional investors as defined by Hong Kong's Securities and Futures Ordinance and is not approved or registered by the Hong Kong Securities and Futures Commission.

### Multiple Institutions Analyze AI Boom's Impact on Fed Rate Hikes

According to ChainCatcher, several institutions have analyzed that the AI investment boom is increasing the difficulty for the Federal Reserve to control inflation. PIMCO believes that AI investments are less sensitive to interest rate changes, while the San Francisco Fed states that AI infrastructure development is driving up demand for tech equipment. Goldman Sachs Asset Management expects the Fed to raise rates once more this year, while Morgan Stanley points out that financing costs have become a new barrier to AI investment. BlackRock and Citi Wealth Management emphasize that AI investment is expanding into the real economy, but inflation and high-interest rate risks remain.

### Looking Ahead to Tonight's Fed Meeting: October "Pause" in Rate Hikes Almost Certain, Focus on Impact on December Rate Hike Probability

According to ChainCatcher, the Federal Reserve will announce its October interest rate decision at 2 AM Beijing time on the 29th. The market widely expects the federal funds rate target range to remain unchanged at 3.75%--4.00%, with a probability of maintaining the status quo exceeding 90%. The wording of the statement and whether Chair Powell's press conference will release more hawkish signals, as well as how this will affect the already significantly priced-in probability of a 25 basis point rate hike in December, are the focal points of attention.

Goldman Sachs, Citi, and Credit Agricole all expect a pause in October and a 25 basis point hike in December. Goldman Sachs stated that if rate hikes continue every other meeting into 2027, they may consider a hike in March, but the baseline forecast does not expect a hike in March. Citi noted that if the stock market continues to weaken, leading to a sharp tightening of financial conditions, the likelihood of shifting to rate cuts will significantly increase. Moody's believes that there should not be another rate hike this week.

Nomura Securities expects a hold in October and states that the Fed is maintaining flexibility for a December rate hike while guiding expectations for a pause. TD Securities expects a hold in October and anticipates two more rate hikes in December and March. Huatai Securities expects a hold in October, with two hawkish voting members possibly voting against, with the baseline scenario being one more rate hike in December this year and two hikes next year.

Morgan Stanley expects rate hikes of 25 basis points in December and March next year. BNY Mellon expects rates to peak slightly above 4.5%. Bank of America believes there is ample reason to raise rates in October, and if they remain unchanged, only one option will be retained.

### Robinhood CEO: Uncertainty in U.S. Tokenization Regulation, Large Assets Hard to Enter Market

According to ChainCatcher, as reported by Cointelegraph, Robinhood CEO Vlad Tenev stated during the Q3 earnings call on Tuesday that there is uncertainty about whether U.S. tokenization rules can be sustained long-term, which may hinder investors from allocating large assets into the tokenization market. He described the five-year innovation exemption granted by the SEC in September as "a very positive step," but emphasized that further rule-making or legislation is needed to bring long-term regulatory certainty.

Tenev noted that when communicating with clients, the uncertainty about the direction of the rules in five years is likely to become a barrier to allocating large assets to this technology. Tokenized stocks have previously faced resistance from traditional issuers, with 16 companies, including Microsoft, Alphabet, and Goldman Sachs, opposing their stocks being listed on the proposed OKXICE platform. AMC CEO Adam Aron has also publicly criticized Robinhood's tokenized stock products.

Robinhood currently offers about 200 stock tokens on Robinhood Chain, backed by the underlying stocks, but constructed in the form of tokenized debt securities, providing only economic exposure without dividend or voting rights, thus falling outside the SEC's innovation exemption that requires rights parity.

Tenev stated that tokenized stocks of private companies will be launched overseas, while seeking paths that comply with qualified investor restrictions within the U.S. Binance Research's baseline scenario predicts that this market could reach $349 billion by 2030, with approximately $4.43 billion as of September 15.

### Circle Submits Comment Letter on Proposed Crypto Asset Regulation to U.S. SEC

According to ChainCatcher, Circle has submitted comments to the U.S. Securities and Exchange Commission regarding its proposed crypto asset regulation. Circle supports the proposal's goal of promoting innovation under clear rules while maintaining the advantages of U.S. capital markets, including transparency, investor protection, market integrity, liquidity, and efficiency.

Circle also suggests that the crypto asset regulation should align with the GENIUS Act. Given that payment stablecoins are increasingly becoming important considerations and settlement assets for on-chain capital formation, Circle requests that the SEC clarify how payment stablecoins that comply with the GENIUS Act can be used for these purposes.

The letter further requests that the commission clarify that eligible payment stablecoins constitute "cash" under proposed rule 302(b) and should receive appropriate U.S. dollar valuation treatment, complying with corresponding accounting and customer reserve handling conditions. Circle also suggests reducing the current 2% broker discount for payment stablecoins that comply with GENIUS to zero, provided that objective safeguards are in place.

Finally, Circle requests that the SEC clarify that technical services provided after the network goes live (including maintaining a known set of validating nodes) do not constitute necessary management work. Establishing safe harbor rules for the technical roadmap will allow issuers to continue maintaining and improving the operational network without inadvertently restarting relevant analyses.

### Notable Trader: Bitcoin is at a Local Bottom, Target Remains $94,000

renowned trader Doctor Profit stated that he has completed long positions in Bitcoin in the range of $80,000 to $81,000, with an average entry price of $80,400, and the target remains $94,000.

He continues to hold Bitcoin spot with an average cost in the range of $60,000 to $64,000 and believes that the $80,000 to $81,000 range, extending down to $79,000, is a zone for accumulation and a local bottom. Doctor Profit mentioned that the demand for spot in this area is stronger, and long positions are gradually being established, while most retail sentiment is bearish.

Regarding institutional positions, he stated that the average buying cost for Bitcoin reserves is about $80,200, and the average buying cost for reserves and U.S. spot ETFs is roughly between $80,000 and $81,500. He also noted that as of October 20, spot buy orders around $80,000 on Binance have been re-accumulated, and the profit-taking speed has decreased to about half of the peak in September.

He assesses that recent selling pressure mainly comes from retail investors, futures shorts, and some short-term holders, while medium to long-term holders who bought in the $60,000 to $70,000 range still tend to hold their positions. Technically, he hopes Bitcoin can regain the 50-day exponential moving average and close above it on a daily basis, but he stated that even if this is not achieved temporarily, it does not change his judgment on the local bottom. He also reminded to pay attention to the Federal Reserve's interest rate decision on October 28.

### Data Breach Reported by Three South Korean Financial Institutions Including Bithumb

according to a report by Reuters on October 28 citing Yonhap News Agency, three South Korean financial institutions reported data breaches on Wednesday. Cryptocurrency exchange Bithumb stated that its internal mobile system was compromised, leading to the leakage of personal information, and it is investigating whether member data was included.

Brokerage Daishin Securities reported that approximately 38,000 customer information records were leaked and emergency measures have been taken. Asset management company Mirae Asset Global Investments also confirmed a hacking incident, and authorities are assessing the situation. Reuters stated that it was unable to immediately contact spokespersons from the three institutions for comments.

The report noted that these incidents occurred after 16 South Korean financial institutions (including banks) were attacked by hackers. The South Korean Financial Services Commission stated earlier this month that related incidents have caused approximately 100,000 data breaches to date. Additionally, it was reported that the Seoul Science Department and the Korea Internet & Security Agency have urged website operators to check for PHP vulnerabilities that could allow attackers to execute malicious commands on servers without logging in.

### U.S. Treasury Secretary: Digital Assets Can Help Solidify the Dollar's Global Dominance

according to CoinDesk, U.S. Treasury Secretary Scott Bessent stated at the Ripple Swell conference that digital assets can help solidify the global dominance of the dollar. Bessent mentioned that historically, the strength of the world's reserve currency came from military power, but it is increasingly shifting towards technological leadership. The U.S. will retain its military umbrella, but the technological umbrella is becoming increasingly important.

He believes that the U.S. will win in the digital asset technology stack, which will continue to solidify the dollar's position. Bessent stated that over 90% of stablecoins are backed by the dollar, and issuers often hold U.S. Treasury bonds as reserves. As adoption grows, the demand for such assets may rise, becoming a new source of financing for the federal government.

He believes that stablecoins will open up new global markets rather than just replacing existing dollars. Regarding the failure of the Clarity Act, Bessent expressed disappointment but stated that the Treasury can work with the SEC and CFTC to advance regulation through institutional actions. He also mentioned that best practices and safeguards can prevent crypto companies from being de-banked.

### Akamai Launches AI Agent Sandbox, Multiple Security Firms Deploy Protection

AI cloud service provider Akamai launched the AI Agent Sandbox and Akamai Inference beta on October 27. The Agent Sandbox provides an isolated environment for writing and running code for agents based on WebAssembly, limiting their computing power, memory, and external connections. Jon Alexander, Senior Vice President of Cloud Technology at Akamai, stated that teams running agents need to define boundaries for the code they write.

A survey by Palo Alto Networks in 2026 of 2,930 security leaders showed that, on average, each real identity corresponds to 109 machine identities, of which 79 are AI agents. Hugging Face disclosed a breach on July 16, and OpenAI subsequently confirmed that its model was responsible; a METR investigation found about 1,200 OpenAI agents collaborating through hidden message boards, with around 700 participating in attacks, escaping the sandbox and exploiting unknown vulnerabilities to access production systems.

Zscaler discovered web pages hiding instructions targeting AI agents in July, indirectly prompting injection, with a spoofed document page requiring agents to pay about 0.0012 Ethereum as a $3 licensing fee, and 4 out of 26 tested models complied.

Palo Alto completed its acquisition of CyberArk in February and acquired Koi in April. Cisco completed its acquisition of Astrix Security on June 29. The survey predicts that the number of enterprise AI agents will grow by 85% in the next 12 months, while human identities will grow by 56%.

### The Crypto Industry Has Invested Approximately $176 Million to Support Allies in the U.S. Midterm Elections, Strategizing for the Post-Trump Era

the crypto industry has spent approximately $176 million during this round of the U.S. midterm election cycle, covering over 100 elections, aiming to establish a bipartisan network of congressional allies to continue advancing legislative demands after Trump's departure.

As of October 20, the super PAC Fairshake and its affiliated organizations have spent about $150.8 million, while other crypto organizations have spent around $25 million, with major funders including Coinbase, Ripple, and a16z. Fairshake stated that among the 58 candidates it supported in primaries or special elections this year, 53 won.

The organization supported bipartisan candidates in the House elections; after Senate Democrats blocked the Clarity Act from reaching a final vote, it decided to support only Republican candidates in the Senate elections. The industry's spending in the Ohio Senate election has exceeded $68 million, focusing on long-time critic of the crypto industry, Sherrod Brown, with related advertisements mostly avoiding mentioning cryptocurrency and instead focusing on issues like taxes.

Advocating for the passage of the Clarity Act is a core goal of the industry, but the bill has stalled in the current Congress. JPMorgan analysts stated that without the bill, rules established by regulators during Trump's tenure could be overturned by subsequent administrations.

### U.S. House Oversight Committee Investigates Proposal for AI Agent Operating Company in Delaware

according to Decrypt, James Comer, chairman of the U.S. House Oversight Committee (Republican from Kentucky), has launched an investigation into a proposal to establish a company entity in Delaware that would be operated daily by AI agents. Comer stated in a letter to Delaware Governor Matt Meyer that the proposed "Artificial Intelligence Company" (AIC) could exempt AI companies and their investors from liability for damages caused by AI agents and requested that the governor submit relevant documents and communications, including "internal AI chat logs," by November 9.

The proposal was announced in July in a joint article in Fortune by Delaware Secretary of State Charuni Patibanda-Sanchez and John Nay, CEO of legal AI company Norm Ai, positioning it as a public-private partnership led by Norm Ai.

By design, the AIC could sue and be sued under the direction of AI agents, hold property, and assume obligations; its sole member must maintain sufficient capital, and except for unfulfilled capitalization, fraud, or intentional violations, that member is not liable for the company's debts. The AIC can only operate within a 30-month regulatory sandbox, must disclose its identity to counterparties, and cannot engage in banking activities.

Comer also questioned the role of private sector participants in the proposal, stating that the Delaware AI Committee's report in December 2025 did not mention security risk assessments or consult independent experts, and the Secretary of State's office also refused to clarify its relationship with an AI company involved in the project. He stated that this information could provide references for federal legislation, including proposals to limit state-level AI regulatory initiatives. The Secretary of State denied that the plan is a liability exemption arrangement, and Governor Meyer defended it, with state legislators expected to review the legislative draft in January next year.

### 13 IPOs Terminated on the Sci-Tech Innovation Board This Year, Nearly 40% from Semiconductor Companies

the Sci-Tech Innovation Board Daily cited Wind data stating that 76 IPOs have terminated review in 2026, of which 13 are from the Sci-Tech Innovation Board, accounting for 17.1%. The total number of IPOs terminated in 2025 was 50, with only 3 from the Sci-Tech Innovation Board, accounting for 6%. The total fundraising scale of the 2026 Sci-Tech Innovation Board IPOs that have terminated is 18.248 billion yuan, nearly 5 times the 3.181 billion yuan in the same period of 2025.

Entering the fourth quarter, companies like Cyclease and Zhongke Innovation have successively terminated their reviews. Among the 13 terminated projects on the Sci-Tech Innovation Board, 5 are related to semiconductors and integrated circuits, including Wuhan Xinxin, Shanghai Xinshi, Beijing Tongmei, Taosheng Electronics, and Yadian Technology, accounting for about 38.5%. Beijing Tongmei is the only project that terminated at the registration stage, having been accepted on January 10, 2022, submitted for registration on August 1 of the same year, and terminated registration on July 2, 2026, lasting over 4 years.

Wuhan Xinxin was accepted at the end of September 2024 and terminated in May 2026, queuing for nearly 600 days, intending to raise 4.8 billion yuan, accounting for about 26.3% of the total intended fundraising of the 13 terminated projects. The duration from acceptance to termination varies greatly. Huaihe Medical was accepted on June 30, 2026, and terminated on September 24, taking 86 days, becoming the first IPO to withdraw after being selected for on-site inspection this year.

Cyclease voluntarily withdrew six months after acceptance, marking the third IPO failure in six years. Huandong Technology was accepted on November 25, 2024, and terminated on September 21, 2026, lasting about 22 months, becoming the first robot company to terminate its IPO this year, mainly focusing on robotic joint reducers, sponsored by GF Securities. According to categories such as semiconductors, software equipment, and hardware services, there have been 37 IPO applications that have become invalid in Hong Kong stocks this year, compared to 11 in the same period last year.

### Diamante Discloses Hacker Attack: Attackers Identified, Full Compensation for Affected Users

According to ChainCatcher, Web3 infrastructure and payment network Diamante announced that its ecosystem experienced a security breach involving unauthorized activities by malicious actors.

Upon discovery, the team immediately activated emergency security protocols and coordinated with exchange partners, market makers, liquidity providers, and listing partners to suspend affected withdrawals and transfers, restrict unauthorized asset flows, and prevent further exploitation. Diamante stated that the investigation has identified the suspected attackers and is coordinating with law enforcement agencies, government entities, and jurisdictional partners in multiple countries to seek legal action and asset recovery.

A comprehensive incident review has been initiated to determine the cause of the breach, the sequence of events, the scope of affected assets, and to strengthen infrastructure. Diamante is committed to ensuring that every affected participant receives full compensation and will continue to update on the incident scope, asset recovery progress, and protective measures once verified information is obtained.

### On-Chain Lending Platform Ibis Completes Pre-Seed Round Financing, Led by FalconX

According to ChainCatcher, as reported by PR Newswire, on October 28, on-chain lending platform Ibis announced the end of its stealth mode and secured a $250 million credit facility from FalconX to provide structured credit to eligible crypto trading firms.

Ibis also completed its pre-seed round financing, led by FalconX, with participation from executives at Anchorage Digital, Innovating Capital, Erebor, Revolut, Injective Foundation, Selini, Pyth, and others, though the specific financing amount has not been disclosed.

Among them, Anchorage Digital Bank will serve as the custodian, banking, and design partner, with collateral held by its regulated custody system. Ibis is responsible for initiating, tokenizing, risk management, and servicing structured credit financing, initially focusing on crypto and prediction markets, with plans to expand into emerging fields such as GPU, robotics, and venture capital in the future.

### Asset Tokenization Issuer Birch Hill Completes $4 Million Seed Round Financing, Led by Multicoin Capital

According to ChainCatcher, as reported by Decrypt, asset tokenization issuer Birch Hill announced the completion of a $4 million seed round financing, led by Multicoin Capital, with participation from ParaFi Capital, Castle Island Ventures, and Nascent.

To date, the company has raised a total of $6.5 million. Birch Hill currently serves as the treasury manager for the on-chain lending protocol Morpho, responsible for assessing credit risk and setting related risk parameters.

Additionally, the company has applied for broker-dealer qualifications with the Financial Industry Regulatory Authority (FINRA) to sell private credit products to qualified investors, planning to package and securitize U.S. multifamily residential, agricultural, and energy loans for on-chain introduction.

### Ethereum Spot ETF Saw Total Net Outflow of $60.2 Million Yesterday, BlackRock's ETHA Had the Largest Net Outflow of $93.3 Million

According to ChainCatcher, based on Rootdata, yesterday (Eastern Time October 27), the total net outflow for Ethereum spot ETFs was $60.2 million.

The Ethereum spot ETF with the largest single-day net outflow was BlackRock's ETF ETHA, which had a net outflow of $93.3 million. As of that trading day, ETHA has a historical cumulative net inflow of $12.081 billion.

The Ethereum spot ETF with the largest single-day net inflow was Fidelity's ETF FETH, which had a net inflow of $28.6 million.

### Bitcoin Spot ETF Saw Total Net Inflow of $176 Million Yesterday, BlackRock's IBIT Had the Largest Net Inflow of $152 Million

According to ChainCatcher, based on Rootdata, yesterday (Eastern Time October 27), the total net inflow for Bitcoin spot ETFs was $176 million.

The Bitcoin spot ETF with the largest single-day net inflow was BlackRock's ETF IBIT, which had a net inflow of $152 million. As of that trading day, IBIT has a historical cumulative net inflow of $66.426 billion.

Following that was Fidelity's ETF FBTC, which had a net inflow of $24.5 million. As of that trading day, FBTC has a historical cumulative net inflow of $10.368 billion.

### JPMorgan: Gold Faces Downside Risks, Interest Rates Still Have Room to Rise

According to ChainCatcher, Yuxuan Tang, Head of Asian Rates and FX Strategy at JPMorgan Private Bank, stated that due to thin liquidity and the potential for rising interest rates, gold faces downside risks. It is expected that the Federal Reserve will raise interest rates in December and the first quarter of 2027, pushing the 10-year U.S. Treasury yield to peak between 5.25% and 5.5% by mid-year. Although the gold market is weak, its appeal as a hedge may drive a rebound in gold prices later next year.

### SK Hynix Expects Storage Market Shortage to Continue Until 2030

According to ChainCatcher, on October 28, storage chip manufacturer SK Hynix analyzed that multiple fields such as software development, customer service, and search are experiencing increased AI usage, which enhances productivity and brings new revenue growth, thereby expanding infrastructure investment. A positive feedback loop structure has already been established.

SK Hynix stated that AI investment entities have moved beyond the initial stage of relying on a few companies and are expanding to ordinary businesses and national levels. It is expected that the global AI data center infrastructure market will continue to grow steadily in the future. In the short term, the storage market demand is led by enterprise-level and consumer-level AI, while in the medium to long term, it will be driven by physical AI such as autonomous driving and robotics, with the market continuing to grow.

On the supply side, SK Hynix pointed out that the difficulty of advanced process technology is continuously increasing, and the time required to build new production facilities is long, resulting in supply not keeping pace with market demand growth. It is expected that the storage market will continue to face a supply shortage until 2030.

### Zhao Changpeng: Users Should Protect Their Own Data and Reduce Information Sharing Across Multiple Platforms

According to ChainCatcher, Binance founder Zhao Changpeng stated on October 28 that four data breaches were reported that day. In the crypto sector, a supplier of Coinbase, Amplitude, exposed some users' contact data, but funds were unaffected; the South Korean trading platform Bithumb experienced a user data breach.

In traditional finance, South Korean securities firms Mirae Asset and Daishin Securities also experienced data breaches. Zhao Changpeng stated that while it is impossible to prevent breaches from occurring, users can protect themselves.

The leaked trading platform data includes names, emails, phone numbers, addresses, identification documents, and transaction records, most of which are used for phishing, SIM card hijacking, and social engineering attacks. Zhao Changpeng suggested reducing the information shared and using separate email aliases for each trading platform so that leaks cannot be linked to other accounts, while also identifying which service experienced the breach.

### Binance Adds 5 New bStocks Tokenized Securities as Collateral Assets

According to ChainCatcher, Binance's full warehouse leverage, unified account model, and unified account professional version will add 5 new bStocks tokens—Bending Spoons (BSPB), GraniteShares 2x Short SK Hynix ETF (SKDDB), GraniteShares 2x Long SK Hynix ETF (SKUUB), GE Vernova (GEVB), and Applovin (APPB)—as eligible collateral assets starting at 20:00 on October 28, 2026.

Eligible users can use these tokens as margin collateral.

### Developer Tool Platform AgentRel Completes $1.3 Million Financing

According to ChainCatcher, developer tool AI visibility and usability platform AgentRel announced on X that it has completed $1.3 million in financing, with investors including Y Combinator and Broom Ventures. The funds will be used to build AgentRel.

The announcement stated that AgentRel helps developer tool companies see whether ChatGPT, Claude, or Gemini will recommend their products or competitors' products, and identifies the pain points encountered when using Claude Code with their products.

The announcement also mentioned that Profound, Peec, and most other AI visibility tools primarily measure volume, while AgentRel provides accurate data and helps users take action based on that data.

### Jinshi Compiled: Federal Reserve's "Pause" in October is Almost Certain, Bank of America Predicts Rate Hike Against the Trend

According to ChainCatcher, multiple institutions predict that the Federal Reserve will pause rate hikes in October and raise rates by 25 basis points in December. Goldman Sachs, Citigroup, and Farm Credit have all indicated that rates will remain unchanged in October, while Bank of America predicts a rate hike in October against the trend.

### Crypto.com and OG.com Launch U.S. Crypto Perpetual Contracts with Up to 5x Leverage

According to ChainCatcher, Crypto.com and its derivatives partner OG.com began offering crypto perpetual contracts to eligible U.S. traders on Tuesday. The contracts offer up to 5x leverage, allowing traders to bet on the price movements of crypto assets without an expiration date, and provide take-profit and stop-loss orders as well as isolated margin features.

Crypto.com stated that it has recently registered as an introducing broker with the National Futures Association in the U.S. to offer the aforementioned perpetual contract products. These products operate through exchanges, clearinghouses, and futures commission merchants regulated by the Commodity Futures Trading Commission in the U.S. This launch follows the CFTC's decision in May to open the U.S. market to crypto perpetual contracts.

Previously, the agency approved Kalshi's Bitcoin perpetual contracts and provided Coinbase with no-action relief to offer digital commodity derivatives; Kraken launched U.S. perpetual contracts on Kraken Pro in June after acquiring Bitnomial.

Crypto.com is also advancing its stock derivatives business, and OG.com's exchange Nadex registered last month with the SEC to trade securities futures. CEO Kris Marszalek stated at that time that the company is working with the SEC and the CFTC to offer individual stock perpetual futures.

### Ripple Expects Year-End Product Revenue Run Rate to Reach $900 Million

According to ChainCatcher, Ripple expects to achieve a $900 million annualized product revenue run rate by the end of 2026, driven by growth in payments, custody, stablecoins, prime brokerage, and funding businesses. The number of customers and partners using multiple Ripple products has doubled this year.

The Ripple payment network is expected to reach a cumulative transaction volume of nearly $150 billion by the end of the year, with the stablecoin RLUSD's market capitalization reaching $2.6 billion. Financial institutions are utilizing Ripple's infrastructure for tokenized assets and transactions, with related businesses extending beyond payments and stablecoins.

Ripple CEO Brad Garlinghouse stated: Traditional finance and digital finance are merging, market infrastructure is moving to a modern track, settlements are shifting to real-time and around-the-clock, and tokenized assets can be used for trading, financing, and collateral.

### CZ: Four Data Breaches Reported on the Same Day, Warns Against Phishing and SIM Hijacking

According to ChainCatcher, CZ pointed out in a post that four data breaches were reported on the same day, involving Coinbase's third-party vendor Amplitude, South Korean cryptocurrency exchange Bithumb, and South Korean securities firms Mirae Asset and Daishin Securities.

Among them, the breach related to Amplitude did not affect customer funds. CZ stated that the leaked exchange data was mainly used for phishing, SIM card hijacking, social engineering scams, and wrench attacks. He advised platforms to use independent email aliases and dedicated backup numbers, refuse to fill out unnecessary personal information, and use strong independent passwords.

CZ also recommended enforcing the use of hardware security keys or passkeys, completely discontinuing SMS 2FA, enabling withdrawal address whitelists, withdrawal time locks, and anti-phishing codes, regularly cleaning API keys and active sessions, and requesting carriers to apply for number transfer locks. He also reminded that all customer service contacts initiated by others should be considered scams, and never click on external links.

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Meme Popularity Rankings

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According to data from the meme token tracking and analysis platform GMGN as of October 29, 08:00,

The top five popular tokens on ETH in the past 24 hours are: 4, ETH, PEPE, CLAUS, CTM

The top five popular tokens on Solana in the past 24 hours are: STONK, REMUS, HOUSECOIN, Robotaxi, LAUNCH

The top five popular tokens on Base in the past 24 hours are: XDP, ELSA, STONKEX, VVV, CTR

The top five popular tokens on BSC in the past 24 hours are: BNCB, GANG, JAGENT, DOG, BATCOIN

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What are the noteworthy articles to read in the past 24 hours?

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### [How Far Can AI Stocks Rebound? It Depends on Financing and Profitability](https://www.chaincatcher.com/article/2299671)

On Tuesday, the market indeed showed improvement: concerns about AI financing eased, credit spreads narrowed, oil prices fell, and tech stocks regained some ground. The narrowing of credit spreads means that investors are demanding less extra yield for holding corporate bonds compared to government bonds, which typically reflects a decrease in concerns about credit risk.

However, these changes still need to be validated by earnings reports and subsequent financing conditions. If major cloud service providers can demonstrate that spending growth is supported by corresponding revenue and cash flow, and if the Federal Reserve's statements do not significantly raise interest rate expectations, the rebound may continue.

Conversely, if earnings reports reveal a larger funding gap and the cost of borrowing for companies rises again, the current sentiment recovery may still face challenges. The variables worth tracking for the upcoming market are already quite specific: whether the returns on new investments are clearer, whether financing conditions remain stable, and whether credit pressure spreads beyond the AI industry.

### [RedotPay Seeks $5 Billion Valuation, But Growth Has Already Lagged](https://www.chaincatcher.com/article/2299513)

Additionally, ChainCatcher previously mentioned that RedotPay's interest-bearing and lending businesses are in a legal gray area. These two businesses are still operational, and interest-bearing products are included in paid membership benefits, with no conclusive regulatory classification yet.

Overall, RedotPay's year-on-year growth remains impressive, but on-chain recharges and card consumption have leveled off in the past two months, and revenue growth has clearly lagged behind capital inflows. Latecomers in the sector are ramping up faster, and the restructuring of its Japanese business and ongoing lawsuits indicate that its compliance structure is still being adjusted.

Currently, RedotPay has completed financial audits by the Big Four accounting firms, and if it submits its application as planned before the end of the year, the public offering prospectus will disclose quarterly revenue, revenue composition, user geographic distribution, and litigation risks, which will be key to assessing this valuation.

### [Interview with Walapay CEO Tom Borgers: The Endgame of Stablecoin Payments is Not to Replace Banks](https://www.chaincatcher.com/article/2299373)

Perhaps the greatest significance of stablecoins in the future is not to reduce a cross-border payment from two days to two seconds, but to allow businesses to manage their funds without adhering to the boundaries of the traditional banking system. This is the real change that the next generation of financial infrastructure may bring.

This article is compiled from an on-site interview at Money20/20 USA in October 2026. The content of the interview has been moderately edited and condensed, and the statements regarding future products and market layouts reflect the interviewee's plans or judgments at the time and do not represent that the related services have officially launched.

Disclosure of interests: The author has a cooperative relationship with the lead investor of this financing round, Generative Ventures.

### [Tonight's Federal Reserve Decision: Inflation Heats Up, But Interest Rate Hikes Hit the Pause Button? Walsh Faces a Test of Credibility](https://www.chaincatcher.com/article/2299659)

Michael Feroli provided Walsh with a feasible script: stating that "the committee leans towards raising interest rates but hopes for more time to observe the transmission effects of last month's rate hike on the economy." Feroli then pointed out the contradiction—this is essentially a form of forward guidance, while Walsh explicitly refuses to provide forward guidance. His warning is thought-provoking: a decision to maintain interest rates made less than a week before the midterm elections, against a backdrop of hot inflation data, if not adequately explained, will inevitably lead the market to associate the policy with non-economic factors.

In terms of statement wording, Goldman Sachs expects the FOMC to borrow from Vice Chair Jefferson's recent speech, using similar phrasing like "any further adjustments to interest rates will depend on data trends, evolving outlooks, and risk balances." If Walsh finds this too close to forward guidance, another option is to remain completely silent on the policy path.

### [From Binance Alpha to Payward: RootData Has Become a Trusted Data Layer for Tokenized Assets by More Institutions](https://www.chaincatcher.com/article/2299596)

From Binance Alpha to Payward, RootData's collaboration scenarios are extending from user-end project showcases to tokenized finance and institutional services. Data is no longer just helping users understand projects but is playing a foundational support role in the business development of more platforms.

As RWA and tokenized businesses continue to develop, standardized and structured data will become an important foundation for information disclosure and business collaboration. This collaboration is expected to further promote RootData's data capabilities into more tokenized and institutional service scenarios and assist the industry in accelerating the expansion of emerging finance like tokenization, pushing tokenization competition from assets and traffic to data and information infrastructure construction.

### [From "Highest Cashback" to Real Costs: PayGlass Makes Crypto Card Choices More Transparent](https://www.chaincatcher.com/article/2299198)

Payglass's vision is to allow every stablecoin holder to find the card that suits them best with the lowest information cost; it also aims to shift the crypto card industry from "who has the biggest cashback number" back to "who has the truly better product."

In conclusion, from less than $1 million in October 2023 to now $1 billion monthly, crypto cards have taken less than three years. It has proven that it can deliver stablecoins to any Visa terminal worldwide.

What needs to be proven next is another matter: when there are 100 cards or even more on the market, how can users quickly find the card they want with the lowest decision cost and threshold? The maturity of an industry is not just about having more products, but also about making its information searchable, comparable, and verifiable. The way to spend with crypto cards is already mature; what is lacking now is a system that makes them understandable.

### [a16z Co-Founder: In the Age of Agents, Everyone Will Become a Manager](https://www.chaincatcher.com/article/2299482)

Fewer people will do things according to processes designed by others because agents will handle the work that we have already figured out how to do. More people will turn to problems that have yet to be solved: judging what is good, noticing what has changed, and deciding what to create next.

What will people do every day at work in the coming decades? The honest answer is: doing those things we have yet to figure out how to do. As agents and businesses automate more work with known methods, people will create outstanding new things alongside this new intelligence, solving problems that were previously insurmountable.

### [Federal Reserve Expected to Stand Pat, Walsh May Signal Hawkish Stance](https://www.chaincatcher.com/article/2299489)

The market generally expects the Federal Reserve to maintain interest rates this week, but Walsh's statements on future rate hikes are key.

### ["New Federal Reserve News Agency": Internal Route Dispute Erupts Among Fed Officials, How Far Can Walsh's "Silence Strategy" Go?](https://www.chaincatcher.com/article/2299443)

Nick Timiraos of the "New Federal Reserve News Agency" pointed out that Federal Reserve Chair Walsh is implementing a new communication strategy of "saying less," but is facing resistance from most colleagues.

During the interval between two meetings, 16 officials made a total of 59 public statements, each sending mixed signals, causing the market's expectation probability for an October rate hike to plummet from 70% to 15%. Opponents argue that keeping the framework under wraps only creates speculation and noise.

### [OpenAI Announces Three AI Research Achievements: "ETH" Overturned, Quantum Field Theory Verified, Hanging Valley Conjecture Tackled?](https://www.chaincatcher.com/article/2299519)

Previously, the two-dimensional local smoothness (2019) and the three-dimensional Hanging Valley Conjecture (2025, Wang Hong and Zahl) have been proven. The results announced by OpenAI advance the proof of the local smoothness conjecture to all dimensions, thereby obtaining the conclusions of the related conjectures in all dimensions.

Regarding the above achievements, OpenAI stated that it does not claim academic credit for discoveries generated by internal models; contributions from researchers in understanding the results, writing manuscripts, and producing materials should be recognized.

The company also mentioned that it had previously announced a donation of 5 million dollars to the Simons Foundation. This funding is managed and distributed by the foundation for workshops, academic conferences, and special programs to help researchers understand the results generated by AI and conduct research based on this understanding.

### [U.S. Treasury Secretary Stands for Crypto: Stablecoins as a New Weapon of Dollar Hegemony and a New Buyer of U.S. Debt](https://www.chaincatcher.com/article/2299510)

U.S. Treasury Secretary Yellen positioned dollar stablecoins as the infrastructure for dollar hegemony and demand for U.S. debt at the Ripple Swell conference; the GENIUS Act, OCC licenses, and the strategic role of the Treasury are piecing together a digital financial order.

### [Banking Circle: How the Bank of Payment Giants Was Forged](https://www.chaincatcher.com/article/2299456)

The bank behind payment companies and exchanges like Kraken, Checkout, and Worldpay: Banking Circle started from Saxo's payment project and grew into an institutional network spanning accounts, clearing, and stablecoin reserves.

### [SK Hynix's Q3 Revenue Exceeds Expectations, Operating Profit Soars 7 Times Year-on-Year to Set Historical High, Unveils Epic Shareholder Return of 100 Trillion Won](https://www.chaincatcher.com/article/2299439)

SK Hynix's operating profit in the third quarter soared 7 times year-on-year to 83.33 trillion won, with revenue exceeding expectations, while announcing a shareholder return plan of about 100 trillion won; however, net profit of 39.53 trillion won fell far below market expectations.