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According to CoinDesk, Brazilian companies turned to stablecoins during the elections last Sunday (October 25) to avoid the risk of local currency depreciation. The cryptocurrency exchange Mercado Bitcoin stated that corporate accounts contributed 78% of the trading volume that day. On election day, the trading volume of USDT surged nearly 800% compared to the same day the previous week, more than three times the average of the previous four Sundays; Bitcoin trading volume increased by 865% compared to the previous Sunday.Data from Biscoint shows that the trading volume of USDT against the Brazilian real increased by 150% compared to the previous Sunday, while USDC increased by 318%. Pedro Fontes, a research analyst at Mercado Bitcoin, stated that in the face of increasing exchange rate pressure, stablecoins like USDT and USDC provide a simple way to dollarize some assets. Concerns for businesses became reality on Monday: Brazil's benchmark Ibovespa index plummeted by 14%, marking the worst performance since March 2020; the dollar rose over 8% against the real, the largest single-day increase since 1999. On Monday, the combined trading volume of USDT and USDC reached 1.84 billion reais (approximately 350 million USD), up 65% from the previous week.

According to Bitcoin.com News, the Spanish National Guard discovered that digital wallets associated with the now-defunct cryptocurrency platform Arbistar continued to make large Bitcoin transfers after the platform's collapse. The investigation revealed that approximately 881 Bitcoins were transferred to external wallets when the platform collapsed in September 2020; from January to March 2021, wallets linked to the main defendants saw a total inflow and outflow of over 20,000 Bitcoins, valued at over $1.1 billion based on Bitcoin prices as of March 31, 2021.Spanish authorities classified the platform as a Ponzi scheme affecting up to 32,000 investors, with prosecutors stating in 2020 that approximately $1 billion of investor funds were unaccounted for. Founder Santiago Fuentes Jover and partner Diego Fernández Nojarova were sentenced to 16 and 11 years in prison, respectively.

UPBIT will launch Bubblemaps (BMT) on October 24 at 12:00 and support KRW trading. Users should note that only BMT deposits and withdrawals through the Solana network are supported.

According to South Korean media Digital Asset, the Second Division of the Seoul Administrative Court held its first hearing on October 22 regarding the administrative lawsuit between Bithumb and the Financial Intelligence Unit of Korea (FIU). The FIU determined that between August 28, 2022, and April 3, 2025, Bithumb conducted 45,772 transactions with 18 unreported cryptocurrency operators, and based on this, imposed sanctions, including a partial suspension that restricts new customers from transferring cryptocurrency assets externally for six months.Bithumb stated in court that transactions of 1 million won or more are subject to the "travel rule," and unreported operators have been excluded from the list of optional exchanges, thus the number of violations for this amount range is zero. Transactions below 1 million won were not subject to the travel rule at that time, and the platform had no legal basis to require customers to provide information about the receiving exchange, nor did the regulatory authorities specify a blocking method. Bithumb also mentioned that after integrating the Chainalysis API, only about 2% of the addresses that could not be confirmed were later identified as unreported operators designated by the FIU. If all were blocked, the remaining 98% of normal transactions would be affected, and the platform could also face user claims.Bithumb also believes that the six-month sanction is excessive, effectively equivalent to prohibiting the platform from acquiring new customers. The company also questioned the FIU's criteria for identifying overseas operators and the reasonableness of the basis for the sanctions.

Tesla (TSLA.O) executives stated that the company is building its own maps for Full Self-Driving (FSD).

According to Catcher Predict monitoring, in the market prediction event on Polymarket "Dota 2: Team Synapse vs. Dawn Bulls - DreamLeague Western Europe Closed Qualifiers Playoffs", the "Yes" option in the sub-market "Both sides defeat Roshan" has experienced a sharp fluctuation in winning probability, soaring from 50% an hour ago to the current 90.5% (a fluctuation of 40.5%). Please note the impact of related breaking news.

User KawzInvests posted about the hedge fund VARA AI Fund. The user stated that this fund had 9 employees at the end of June, approximately 16 months after its launch, managing about 26.4 billion dollars, and mentioned that rumors were circulating in the market that the fund had already faced a liquidation.KawzInvests also listed the results of the fund's 13F filing as of March 31, calculated at the day's prices, stating that the relevant positions covered 60 securities, totaling about 13.1 billion dollars. Among the larger positions were NBIS approximately 1.28 billion dollars, BE approximately 1.27 billion dollars, LITE approximately 1.03 billion dollars, CRWV approximately 889 million dollars, STX approximately 728 million dollars, VRT approximately 720 million dollars, WDC approximately 624 million dollars, CLS approximately 537 million dollars, COHR approximately 492 million dollars, FIX approximately 426 million dollars.

On October 15, Musk responded to a post on X. The post claimed that Amazon is blocking the Grok robot from placing orders and suggested that Musk launch X Shop. Musk stated that perhaps a company should be founded to compete with Amazon.

The on-chain data analysis platform Bubblemaps accused that wallets associated with Anglio traded in advance before recommendations were published on Pump.fun, estimating a profit of about $50,000 from trades and approximately $80,000 in recommendation rewards. Bubblemaps presents the relationships between on-chain wallets through visual bubble charts, used to identify the connections between token holders and the flow of funds.This accusation points to the recommendation behavior on Pump.fun, where certain accounts built positions before the tokens were publicly recommended. Meanwhile, Pump.fun is shifting its reward payment mechanism to focus on the earnings of followers, distributing rewards based on the returns of followers.

NASA stated that the SpaceX capsule is entering the Earth's atmosphere.

According to monitoring by Catcher Predict, in the market prediction event on Polymarket for "Dota 2: Team Synapse vs LEGION - PARI Universe Playoff Qualifiers," the "Any Player Ultra Kill" sub-market's "Yes" option win rate has experienced significant fluctuations, soaring from 50% an hour ago to the current 90.5% (a fluctuation of 40.5%). Please note the impact of related breaking news.

The Solana tokenized silver project Dominion has announced its closure. The team stated that a security incident in September led to a significant amount of SILV being compromised and sold off, resulting in a liquidity collapse, operational capital losses, and damage to market structure. The capital required for reconstruction has exceeded the project's remaining resources.Dominion has allocated most of its remaining liquid funds to a refund plan, allowing eligible pre-attack SILV holders to exit at $63 per token. SILV was originally designed to be a Solana token backed 1:1 by physical silver, with each token corresponding to one troy ounce of silver.On September 11, attackers gained control of its 3/5 multi-signature key and sold approximately 46,909 SILV on a thinly traded DEX, with a nominal value of about $3 million before the attack, ultimately cashing out around $238,000.

According to Catcher Predict monitoring, in the market prediction event "Dota 2 Team Synapse vs Yellow Submarine" on Polymarket, the "Yes" option for the sub-market "Any Player Goes Godlike" has experienced a sharp fluctuation in winning probability, soaring from 50% an hour ago to the current 91% (a fluctuation of 41%). Please note the impact of related breaking news.

According to foreign media reports, Goldman Sachs bankers earned huge commissions while handling SpaceX's IPO. As early as five years ago, when SpaceX was valued at only tens of billions of dollars, Goldman Sachs helped high-net-worth clients invest in the company.After SpaceX went public with a valuation of $1.77 trillion, clients who sold shares received substantial profits and paid Goldman Sachs hundreds of millions of dollars in commissions.

According to CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) has submitted two rules for review to the Office of Management and Budget (OMB). One rule aims to include event contracts within the regulatory definition of swaps, while the other is a "temporary final rule" that seeks to exclude "casino-style gambling products" from the scope of swaps.These two rules were received by the OMB this week, with the document dated September 28. OMB review is typically the last step before rules are submitted for public comment, and the temporary final rule will take effect immediately while allowing for subsequent public input and revisions.This move comes as the CFTC engages in a tug-of-war with multiple states over the nature of prediction markets. Event contracts are typically binary yes-or-no bets on measurable outcomes such as sports events and elections. Last week, the U.S. Sixth Circuit Court of Appeals ruled that Kalshi's sports contracts do not fall under swaps and should be governed by state gambling regulations, while the Eighth Circuit Court of Appeals made a similar ruling; however, the Third Circuit Court of Appeals previously determined that the CFTC has jurisdiction over prediction markets, creating a legal divergence at the federal level. CFTC Chairman Mike Selig believes that the CFTC has exclusive jurisdiction over prediction markets.If event contracts are classified as swaps and not as gambling products, it could weaken the positions of various states in multiple lawsuits against prediction market platforms like Kalshi. The CFTC is legally required to consist of five commissioners, but President Trump has yet to nominate additional commissioners, leaving Selig as the sole commissioner, who is unilaterally advancing regulatory and policy decisions. Additionally, information disclosed by the OMB indicates that the CFTC recently submitted a "pre-rule" focusing on cryptocurrency regulation to the White House.

According to CoinDesk, the Clarity Act, aimed at establishing a clear regulatory framework for cryptocurrency in the United States, has been declared a failure after months of intense negotiations. The bill was originally intended to address the definition of digital assets at the federal level, but it failed to reach the final voting process due to fierce interest group conflicts.Multiple sources indicate that the core reason for the legislative collapse lies in complex jurisdictional conflicts and disputes over terms. The CFTC (Commodity Futures Trading Commission) and SEC (Securities and Exchange Commission) are in disagreement over the management rights of certain digital assets, while lawmakers also struggle to reach a consensus on how to define the legal attributes of NFTs, DeFi protocols, and stablecoins. Despite calls from organizations to eliminate market uncertainty through legislation, a key compromise proposal ultimately could not be reached.The Fintech Association and other industry organizations had previously lobbied actively in support of the bill, hoping to establish clear industry standards. With the failure of this legislation, traditional financial institutions on Wall Street and cryptocurrency projects will continue to face legal gray areas, and the industry's compliance process will thus be forced to delay.

According to monitoring by Bubblemaps, Circle has completed the minting of 10 billion ARC tokens and distributed them to 11 addresses via a null address, which can now be tracked in real-time on the blockchain.The Arc team previously announced that the minting of ARC tokens has been completed, with a total of 10 billion tokens. The team emphasized that ARC tokens are not yet available for circulation, trading, public use, or activation for staking, governance, fees, or utility functions. According to the previous white paper, the distribution plan for ARC tokens is as follows: 60% allocated to the ecosystem (token sales, developer funding, network growth); 25% allocated to Circle (protocol development, staking, and governance); 15% allocated to long-term reserves (strategic flexibility and economic stability).