🏦 Sony Bank, Listing Fee Spat, Crypto Tax Settlements

Good Afternoon,

Competition and controversy are in today’s headlines. Sony Bank is entering the crypto banking arena with plans for stablecoins and custody services, while Binance leadership pushes back on criticism over token listing fees. As Coinbase signals openness by adding BNB to its listing roadmap, the spotlight intensifies on transparency and trust in exchange listing practices — and in a major legal turn, Roger Ver settles a $50M tax case as the DOJ drops its indictment.

That’s not all the news for today. Scroll down to read more! 👇

News Roundup

Artificial Intelligence

• ChatGPT to Permit Adult Content for Verified Users Starting December (X)

• BlackRock, Nvidia, and Microsoft Lead $40B AI Data Center Megadeal (U.S. News)

• OpenAI Forms Well-Being Council as Altman Relaxes ChatGPT Content Rules (Decrypt)

Decentralized, Centralized, & Traditional Finance

• Stripe’s Stablecoin Arm Bridge Applies for National Bank Trust Charter (The Block)

• Figure Expands SEC-Registered Yield Token YLDS to Sui Blockchain (The Block)

• OKX Tightens AML Controls on Huione-Linked Transactions Amid Money Laundering Concerns (X)

• Taiwan’s OwlTing to Debut on Nasdaq as Stablecoin Demand Booms (Decrypt)

• French Bank ODDO BHF Launches Euro-Backed Stablecoin ‘EUROD’ on Bit2Me (CoinDesk)

• China Merchants Bank Tokenizes $3.8B Fund on BNB Chain in Hong Kong (Cointelegraph)

• Ripple Partners With Absa Bank to Launch Crypto Custody Services in South Africa (Cointelegraph)

• Zeta Network Group Bolsters Balance Sheet With $231M Bitcoin-Backed Investment (Chainwire)

• Deribit CEO on Coinbase Acquisition, Institutional Focus, and the Future of Crypto Options (Wu Blockchain)

• Superstate and Backpack to Launch First Natively Tokenized Public Stocks for Crypto Traders (The Block)

• Ethereum Foundation Allocates $16 Million to Morpho’s DeFi Vaults (X)

• OKX and Standard Chartered Expand Partnership Across Europe (OKX)

• Kraken-Backed Ethereum L2 Ink Launches ‘Tydro’ Lending Protocol (The Block)

• CME Launches Options Trading for Solana and XRP Futures (Decrypt)

• SoloTex Wins FINRA Approval to Offer Tokenized U.S. Stocks to Retail Traders (CoinDesk)

• Sony Bank Files for Crypto Charter to Launch Stablecoins and Custody Services (Decrypt)

• Coinbase Invests in CoinDCX to Deepen Commitment to India and Middle East Crypto Growth (Coinbase)

Exchange-Traded Funds

• On October 14, U.S. spot Bitcoin ETFs saw a combined $103 million in net inflows, led by Fidelity’s FBTC.

• U.S. spot Ethereum ETFs saw $236 million in total inflows on October 14, and none of the nine approved ETH funds recorded outflows.

• Sharplink Co-CEO Joseph Chalom: Bitcoin and Ether ETFs Mark a ‘Mission Accomplished’ Moment (Cointelegraph)

Infrastructure

• Stripe Adds Stablecoin Support for Recurring Subscription Payments (Bankless)

• Ethereum’s Fusaka Upgrade Activates on Sepolia Ahead of December Mainnet Launch (Cointelegraph)

• Cloudflare Partners With Visa, Mastercard, and AmEx to Power AI-Powered Payments (The Block)

• Exclusive Data Reveals Binance Oracle Flaw Behind $19B USDE Crash (Cointelegraph)

• Brevis Unveils Pico Prism zkVM, Delivering Real-Time Ethereum Proofs on Consumer GPUs (X)

Markets

• UMBRA Trades 5x Above ICO Price After Oversubscribed $150M Raise (The Defiant)

• Franklin Templeton: Crypto Still Outperforms Traditional Markets (The Defiant)

• Bitcoin Regains Edge Over Ethereum as Trump’s Trade Clash with China Escalates (Decrypt)

• Gold Futures Hit Record $4,200 as Crypto Outflows Surge Past $21 Billion (Decrypt)

• Synthetix (SNX) Surges 190% Ahead of Ethereum Perpetual DEX Launch (Decrypt)

• Bitcoin and Ethereum Steady as U.S. Shutdown Drags Into Third Week (Decrypt)

• Bittensor’s TAO Surges 32% as Institutions Circle and First Halving Nears (DL News)

• Coinbase Adds Binance’s BNB to Listing Roadmap Amid Fee Controversy (The Block)

Non-Fungible Tokens

• OhBaby Games NFT Mint Surges 500%, Rekindling GameFi Optimism (The Defiant)

• NodeMonkes Trading Volume Hits Yearly High as Bitcoin Nears Record Levels (The Block)

Politics & Regulation

• Trump-Xi Meeting Back on Track as U.S. Softens Tone After Tariff Threat (USA Today)

• Sen. Lummis Floats Using Seized 127K BTC to Boost U.S. ‘Strategic Bitcoin Reserve (X)

• NYC Launches First-Ever City Office for Digital Assets and Blockchain (The Block)

• U.S. Lawmaker Moves to Codify Trump’s 401(k) Crypto Executive Order (Cointelegraph)

• Japan Moves to Outlaw Crypto Insider Trading by 2026 (Decrypt)

• UK Electoral Commission to Update Crypto Donation Rules After Reform UK’s First Crypto Gift (Decrypt)

• OCC Grants Preliminary Approval to Peter Thiel-Backed Erebor Bank (The Block)

Treasuries

• Corporate Bitcoin Holdings Hit $117B as Public Firms Accelerate Crypto Treasury Allocations (Decrypt)

Venture Capital

• Former Aptos CEO Mo Shaikh Launches $50M Fund Targeting Web3 and AI Networks (The Block)

Other News

• Bitcoin Depot Partners With IGA to Bring Bitcoin Access to Neighborhood Grocery Stores (Bitcoin Depot)

• Elon Musk Praises Bitcoin’s ‘Energy Foundation,’ Reversing Past Environmental Criticism (X)

• Powell Signals Fed Still on Track for October Rate Cut, Hints at End of Balance-Sheet Reduction (WSJ)

• Roger Ver Settles $50M Tax Case, DOJ Drops Indictment (The Block)

• Binance Denies Profiting From Token Listings, Calls Allegations “False and Defamatory” (The Block)

• Sam Bankman-Fried Alleges Biden Administration Targeted Him Over GOP Donations (The Block)

• ‘Crypto King’ Kidnapper Pleads Guilty as Attacks on Wealthy Crypto Holders Rise (Decrypt)

• How Dollar-Cost Averaging Builds Crypto Wealth Over Time (Cointelegraph)

• CZ Responds to Listing Fee Complaints: “If Your Project Is Strong, Exchanges Will Race to List It” (X)

• Yi He Defends Binance Listing Practices: “There’s Nothing Shady—Everything’s Public and Accountable” (X)

• Aptos and NBCUniversal Launch “Backlot Club” Web3 Fan Rewards Platform (The Block)

• MIT Brothers Face Trial Over $25M Ethereum Exploit (Decrypt)

• IMF Warns Global Debt to Hit Post-WWII High, Urges Fiscal Discipline (Reuters)

Check This Out

Global Bitcoin adoption has reached 4.7% of the world’s population — the same level of penetration the Internet had in 1997, according to new data.

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