trust

Federal Reserve Governor Bowman stated that there needs to be a reduction in risks from artificial intelligence and the Middle East before there can be confidence in a decline in inflation next year.

Cosmos Labs has donated the cross-chain communication protocol IBC to the decentralized trust project under the Linux Foundation (Linux Foundation Decentralized Trust).The initial technical committee established after the transfer of IBC consists of seven members, with Cosmos Labs occupying five seats, and the remaining maintainers coming from Datachain and OpenZeppelin.

Coinbase stated that the Office of the Comptroller of the Currency has converted its national trust bank charter from conditional approval to formal approval.

Claudia (@0x_claudia), the former Head of Markets at Bybit, announced on X that she has joined Trust Wallet, responsible for marketing and growth, specifically including growth, branding, and community.She stated that she will work closely with Felix Fan and the team to bring on-chain finance to the next one hundred million users, with the goal of making Trust Wallet the default wallet for everyone.According to her previous post, Claudia left Bybit on October 20. She worked at Bybit for about two years, serving as the Head of Talent Acquisition, Head of Branding, and Head of Marketing, and was involved in building Bybit's payment business.

The U.S. Commodity Futures Trading Commission (CFTC) Clearing and Risk Division issued a no-action letter clarifying whether derivatives clearing organizations can use trust companies for the daily settlement of clearing members.The letter states that derivatives clearing organizations may consider trust companies as settlement banks that meet applicable CFTC requirements, allowing them to use these for daily settlements.

BOX announced a partnership with NVIDIA to provide a trusted content layer for enterprise AI.

According to Cointelegraph, VeChain co-founder and CEO Sunny Lu recently stated in Cointelegraph's Chain Reaction program that autonomous AI agents operating around the clock require a "new accountability system" to establish public trust, and that "the perfect solution is blockchain."He made this statement while introducing the AI agent platform VeWorld.ai built on the VeChain blockchain. According to his vision, AI agents will have digital "passports" and operate within a "decentralized reputation system" that tracks the reputation of agents and their creators, while smart contracts can help settle transactions between agents or between agents and people. VeChain has previously advanced blockchain applications through supply chain tracking, including food traceability projects.Lu believes that AI agents can also help individuals convert their expertise into businesses or services, expanding software development opportunities to non-developer groups. He likened this opportunity to mobile app stores, which allow individual developers to distribute and monetize their creations, while agent-building tools can open this market to people beyond programming skills, including those with professional experience, local knowledge, or hobbies.He himself has undertaken several initiatives, including creating an educational agent for his daughter, an agent to support his mother's daily routine and rehabilitation, and a virtual employee to manage procurement, inventory, sales, and operations for a shop owned by an acquaintance in Milan.Meanwhile, other industry participants have pointed out the risks of relying on agent service providers. Animoca Brands Chairman Yat Siu stated in an October interview with Cointelegraph that while crypto traders can have AI agents work around the clock, he warned users that they might build trading strategies around services they cannot control.

Sony Bank announced that its external contractor for digital securities, Securitize Japan, experienced unauthorized access to its systems, resulting in a leak of customer information. This includes the names, addresses, birth dates, and account numbers of 4 customers, as well as the names of an additional 617 customers.Sony Bank stated that no improper transactions have been identified as a result of this incident, and there is no evidence that the leaked information has been made public or disseminated online. This matter only involves digital securities services, and related transactions have been suspended, with further notifications to be provided upon resumption.Securitize Japan detected system anomalies on October 29 and confirmed the unauthorized external access on the same day, subsequently notifying Sony Bank. An investigation of the logs confirmed the leak of customer information. Sony Bank will contact the affected customers individually.

Vitalik emphasized trusted hardware and privacy protection in his keynote speech at Devcon, and the Ethereum Foundation outlined related goals such as open chips.

Binance founder Zhao Changpeng stated in an interview, "After the attack incident, Binance quickly stepped up to clarify that user funds were not affected and user assets are safe. Although this is just a very simple statement, it effectively prevented panic from spreading further and avoided a chain reaction.Everyone understands that this incident will not have further spillover effects. Unlike previous cases where some platforms or lending protocols went bankrupt, ultimately causing users to bear losses, this time users will not be forced to bear related losses. This is fundamentally different from some past events, which often triggered second and third rounds of chain reactions. I believe that, first, this statement calmed everyone down. Secondly, Binance's ability to make such a commitment based on its own credibility also made users willing to believe this statement. After all, many fund flows and transaction records on the blockchain are public and transparent.However, this situation is different; users understand that Binance has sufficient financial strength to bear related losses. Binance has the SAFU (Secure Asset Fund for Users), a futures insurance fund, as well as very strong capital strength and a solid balance sheet. It is this ability to respond quickly, take responsibility proactively, and ensure that all users are protected and all losses are compensated that has gradually restored calm to the market.One interesting point: on the day of the incident, the decline in the cryptocurrency market was actually smaller than that of the tech stock market, a situation that is almost unprecedented. Typically, when the stock market declines, the crypto market often experiences a larger drop, as investors looking to hold cash tend to sell off crypto assets. But this time, even with such a severe hacking attack on the crypto industry, the market decline was smaller. I believe this indicates that investors overall remained quite calm, and it reflects the solid trust in the platform that has been gradually built over the years. I feel very proud of this."

A proposal for token permissions on the XRP Ledger is expected to be activated on Wednesday. This proposal currently has the support of 33 out of 35 trusted validators.Meanwhile, a related independent proposal aimed at preventing unauthorized token holders is still under review and has not yet entered the activation phase.

According to Bloomberg, Meta Platforms (META.O) is facing an investigation by UK regulators. Regulators are concerned that the company's commercial terms may impose "exploitative" conditions on publishers and advertisers.The UK Competition and Markets Authority (CMA) stated on Friday that it will investigate whether Meta has abused its market dominance by "unfairly harming" the interests of businesses using its platform through its commercial terms.The CMA noted that Meta originally planned to revise the relevant terms starting November 20, but has now postponed the implementation. Under these terms, Meta could collect content from its website without obtaining consent from publishers.Subsequently, Meta could use this content to develop and provide its own products and services, including artificial intelligence features. In response to the investigation, Meta stated, "There is no reason to initiate a competition investigation. We have committed not to modify the relevant terms without consulting publishers and other stakeholders."

According to TheEnergyMag, Galaxy Digital (GLXY) has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank in New York, providing fiduciary investment consulting and digital asset services.This move aims to integrate the company's business under the federal regulatory framework.

Federal Reserve Chairman Waller stated not to trust forward guidance unless a crisis occurs.

Ripple CEO Brad Garlinghouse stated that the Office of the Comptroller of the Currency (OCC) has finally approved the application related to Ripple National Trust Bank. This approval will provide Ripple with a business platform under a federal regulatory framework to support its dollar stablecoin RLUSD and offer digital asset custody services to enterprise clients.Garlinghouse noted that this move reflects the integration of the cryptocurrency industry with the traditional banking system, emphasizing the importance of innovation, accountability mechanisms, and federal regulation.

According to the American financial media Semafor, Musk proposed a merger between Tesla and SpaceX this week. A former Department of Justice official stated that the proposal poses a real risk of antitrust issues.The official noted that antitrust regulators typically view such vertical mergers as beneficial for improving supply chain efficiency and promoting competition. However, if Tesla and SpaceX are deemed to be potentially engaging in vertical exclusionary mergers, regulators may attempt to block it. The article explains exclusionary as companies using their position to limit competition from other levels of the supply chain, citing that if in the future only Tesla vehicles can use SpaceX's Starlink technology, other autonomous or electric vehicle manufacturers may be harmed.The report states that the outcome depends on the terms of this currently hypothetical deal, as well as how willing U.S. antitrust enforcement agencies, aligned with Trump's stance, are to clash with Musk, who is described as a major Republican donor. The report also mentions that even so, if the Democrats regain control of the House next month, Musk will face congressional investigations, and lawmakers will closely scrutinize his attempts to merge his companies.