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Gate Q3 institutional business growth accelerated: CrossEx's assets surged by 902%, with trading volume and the number of trading users increasing by 63% and 315% respectively

According to the "Q3 2026 Report" released by Gate, the platform's institutional business continues to grow, with cross-market trading, asset custody, and professional fund services further expanding.Among them, CrossEx has seen significant improvements in several core indicators, with quarterly trading volume increasing by 63% month-on-month, asset custody increasing by 902% month-on-month, the number of trading users growing by approximately 315% compared to Q2, and the number of fund users increasing by 95%.In terms of products and infrastructure, CrossEx has added mainstream exchanges, Lighter contracts, real stocks, and ETF trading scenarios, and launched features such as RPI Orders and arbitrage opportunity displays. CrossEx Colo services have officially launched, with order placement concurrency and multiple transaction reporting delays optimized by about 50%, and the highest fees for certain trading scenarios reduced by 50%. During the same period, Gate's institutional cumulative borrowing volume increased by 412.02% month-on-month.In addition, the Gate SuperLink ecosystem has added two banking partners, ABN AMRO and Pave Bank, and deepened cooperation with custodians such as Copper and BitGo. OES clients can now access CrossEx, participating in trading across multiple exchanges through a unified margin pool under an isolated custody model, further expanding institutional clients' cross-market asset allocation and trading options.

first_img The Internal Revenue Service (IRS) of the United States plans to reform the voluntary disclosure program, reduce tax penalties, and expedite processing

According to a report by Forbes on Friday, the Internal Revenue Service (IRS) is preparing to reform its voluntary disclosure program, planning to reduce penalties and expedite the processing of tax violation cases, including those involving cryptocurrency.Jarod Koopman, head of the IRS Criminal Investigation Division, stated that the agency aims to launch the revised program before December and to close cases within 120 days after taxpayers complete the required submission process. He noted that the new plan will not establish a separate disclosure channel for digital assets but will apply the same voluntary disclosure procedures to other forms of tax noncompliance. Koopman also mentioned that the penalties under the revised program will be significantly lower than current levels, although he did not provide specific amounts. The IRS is considering allowing taxpayers to settle debts through installment payments or settlement offers.According to Forbes, the current program often takes a year or longer to complete and primarily targets taxpayers who intentionally fail to comply with tax laws and may face criminal prosecution, rather than those who make reporting errors due to negligence. Meanwhile, legislative efforts are advancing another voluntary disclosure program aimed at cryptocurrency taxpayers. Section 502 of the Digital Asset Taxation Certainty Act will establish a correction process with clear penalty standards for past violations, and the bill was passed by the House Ways and Means Committee in September.

CoinGecko: In the third quarter of 2026, the total market value of cryptocurrencies rebounded by 39.6% to $30 trillion, with Ethereum increasing by 71%

CoinGecko's report on the cryptocurrency industry for the third quarter of 2026 shows that the total market capitalization of cryptocurrencies increased by 39.6% quarter-on-quarter, rising by $840.1 billion to approximately $3 trillion, ending three consecutive quarters of decline and marking the largest quarterly increase since the fourth quarter of 2024. However, the total market capitalization is still down 4% year-to-date.In terms of mainstream assets, Ethereum (ETH) rose 71% in the quarter to $2,684, outperforming Bitcoin and other major cryptocurrencies, with net inflows into spot ETH ETFs reaching $3.1 billion for the quarter. Hyperliquid (HYPE) surged to an all-time high of $98, driven by favorable regulatory news in the U.S., with a quarterly increase of 40.5%. Meanwhile, trading activity failed to keep pace with the price rebound. The average daily trading volume in the cryptocurrency market decreased by 8.6% quarter-on-quarter to $73.3 billion, while the spot trading volume of the top ten centralized exchanges fell by 14.2% to $1.65 trillion. Binance's spot market share rose to 42.7%, up from 38.7% in the second quarter; the total open interest in perpetual contracts on centralized exchanges grew by 40.6% quarter-on-quarter, surpassing $100 billion at the end of the quarter for the first time since the third quarter of 2025.
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