Robinhood, Kraken, Paxos, and other major finance firms have launched the Global Dollar Network, a compliance-driven system for stablecoin adoption worldwide. The new USDG stablecoin, issued by Paxos from Singapore, is pegged 1:1 to the US dollar and is currently available on Ethereum. Managed by DBS Bank, USDG will expand to additional blockchains as regulations progress, inviting qualified fintechs and custodians into the network.
Last week, Bitcoin spot ETFs experienced a significant net inflow of $2.22 billion, marking the third-largest weekly inflow in US history. BlackRock’s IBIT led the way with a notable $2.15 billion influx, showcasing strong institutional interest ahead of the Presidential elections. In contrast, Ethereum spot ETFs saw a modest inflow of just $13 million amid ongoing market volatility.
Tron founder Justin Sun challenged Coinbase CEO Brian Armstrong’s claim of free token listings, alleging that Coinbase requested $80 million in TRX for Tron’s listing and a $250 million BTC deposit into Coinbase Custody to enhance liquidity. Sun emphasized that Tron lists on Binance for free, expressing respect yet refuting Armstrong's statement on listing costs.
On Nov. 3, hackers hijacked rapper Wiz Khalifa’s X account, using it to promote the WIZ memecoin. The token surged to $3.4 million in market cap before plummeting below $28,000 as holders sold off their holdings. Later, the WIZ posts were deleted, but it’s unclear if Khalifa’s account is fully secured. Blockchain analyst ZachXBT linked the attack to a previous hack of Truth Terminal creator Andy Ayrey.
Crypto casino Metawin lost $4 million in tokens after hackers exploited its withdrawal system, draining funds from hot wallets on Ethereum and Solana. CEO Richard Skelhorn confirmed access has been restored and stolen funds replenished. Blockchain sleuth ZachXBT tracked the funds to Kucoin and a HitBTC service. Nearly 115 theft addresses were linked to the exploit. Although the withdrawals were temporarily disabled, they are now back online.
Metaplanet shares jumped 16% to 1,105 yen ($7.38) after the firm announced a purchase of 107 Bitcoin for nearly $6.7 million, raising its total holdings to 855.5 BTC valued at over $56.1 million. The company has made multiple Bitcoin purchases this month, inspired by MicroStrategy's strategy, and now holds the 23rd largest Bitcoin stash among public companies. Metaplanet's investment strategy includes utilizing various capital market instruments.
The Sui Foundation has denied allegations of insider token sales following claims of a $400 million Sui token transaction. They clarified that no insiders from the Foundation, Mysten Labs, or its investors participated in the sale. The Foundation suggested the wallet likely belongs to an “infrastructure partner” holding tokens under a lock-up schedule. The response followed accusations from analyst Lightcrypto on social media, questioning Sui's recent price surge and ecosystem potential.
An FTX/Alameda-linked Solana address received 178,631 SOL ($28 million) recently, according to on-chain analyst EmberCN. Historical data suggests these funds may soon be moved to Coinbase or Binance. The address is known for processing similar transactions monthly, usually transferring around 170,000 SOL between the 12th and 15th. Currently, the address holds approximately 7.09 million SOL ($1.107 billion) in staked assets.
U.S. Bitcoin spot ETFs saw their largest inflow day in four months, with a staggering $555.9 million on Oct. 14. Bitcoin surged to a two-week high of $66,500. Fidelity led the pack with $239.3 million in inflows, with institutional investors driving demand. ETFs now approach $20 billion in net inflows for 2024, as highlighted by ETF Store President Nate Geraci, who described it as a “monster day.”
On October 14, a whale purchased 1.38 million POPCAT at $1.41 after withdrawing 12,716 SOL ($1.94 million) from Binance, according to Lookonchain. Despite a $4.44 million loss on WIF trades, the whale reduced their loss to $2.5 million and now holds 2.05 million POPCAT worth $2.82 million, with unrealized profits of $518,000.
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