Category: crypto

Solana Foundation President Lily Liu announced plans to create an “internet capital market” enabling on-chain IPOs. Solana aims to bridge traditional finance with blockchain technology. Liu highlighted Solana’s role in the stablecoin market and partnerships with Franklin Templeton and Western Union to expand blockchain applications in payments and financial infrastructure.

Major U.S. cryptocurrency-related stocks experienced significant declines in pre-market trading, with companies like MicroStrategy, Coinbase, and Robinhood all seeing drops. This trend reflected broader losses in the crypto market, with Bitcoin, Ethereum, Binance Coin, Solana, and XRP all posting steep weekly declines. The negative sentiment in the market suggests ongoing volatility.

Sun Wukong, the first Chinese decentralized contract exchange, has reached over $3.65 billion in trading volume and 35,600 active users within a month of its launch. Despite the trading ban in mainland China, Hong Kong is emerging as a digital-assets hub. The platform offers features like zero trading gas fees and supports multiple major chains.

SBF’s legal team will argue before the 2nd U.S. Circuit Court of Appeals that his FTX fraud conviction should be overturned. They claim the trial judge blocked evidence that could have influenced the jury’s decision. SBF denies wrongdoing, attributing FTX’s collapse to mismanagement and panic. His appeal aims to overturn his conviction and secure an…

UBS completed the first live onchain transaction for a tokenized money market fund using Chainlink’s infrastructure on Ethereum. This process automated fund operations from order to settlement. The transaction demonstrates the potential for tokenized fund operations to be executed entirely onchain while maintaining compliance and security standards.

Singapore Gulf Bank has partnered with Fireblocks to expand its crypto services, offering custody, fiat ramps, and stablecoin issuance. Backed by Bahrain’s sovereign wealth fund, the bank aims to provide a regulated banking experience to crypto companies. This integration signifies the growing convergence between traditional finance and DeFi.

OKX’s X Layer will use Chainlink’s cross-chain services to connect traditional finance with DeFi. The partnership will allow X Layer developers to access off-chain market data and enable seamless data transfers across different blockchain networks. OKX will cover the cost of Chainlink’s services for X Layer applications to reduce developer costs.

CleanSpark sold 589 bitcoin for $64 million in October to fund a new AI data center in Texas. The company produced 612 BTC last month and is focusing on developing data centers for innovation. Other firms like IREN, Riot, and Cipher are also shifting from Bitcoin mining to AI and high-performance computing infrastructure.

Bitcoin treasury firm Sequans sold 970 BTC to reduce debt, halving it to $94.5 million while remaining committed to long-term accumulation. The sale aimed to strengthen the company’s financial position, with 2,264 BTC remaining. Bitcoin treasury firms rarely sell their BTC, but some have done so in the past for various reasons.

The Chicago Mercantile Exchange, a leading derivatives marketplace, experienced a significant increase in cryptocurrency futures trading volume in October, with average daily trading volume reaching its highest level of the month. This surge in volume was attributed to the launch of new futures contracts for XRP and Solana, as well as the introduction of Spot-Quoted…