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The Ripple-SEC settlement cannot take effect until the Court of Appeals formally signs off on the stipulation.
Share link:In this post: Digital Currency Group (DCG) has filed a lawsuit against its subsidiary, Genesis Global Capital LLC, concerning a $1.1 billion promissory note. The $1.1 billion promissory note is a safeguard that Genesis had in place. Genesis also sued DCG for $2.1 billion to get more funds to pay back additional customers, accusing it of fraud and mismanagement amounting to $3.1 billion.
Share link:In this post: Trump’s administration is negotiating a government equity stake in Intel using Chips Act funds. The move aims to rescue Intel’s delayed Ohio factory and boost U.S. chip production. Lip Bu Tan, Intel’s CEO, gained $29M as Intel stock surged 15% since his March appointment.
Share link:In this post: Hedge fund Brevan Howard is now the biggest shareholder of IBIT with 37.5 million shares. More entities are gaining or increasing their exposure to IBIT with Havard disclosure being most significant. IBIT has now crossed $90 billion in assets under management.
Share link:In this post: The S&P 500 and Nasdaq both fell Friday, while the Dow rose slightly, boosted by a 12% surge in UnitedHealth. Applied Materials dropped 14%, dragging chip stocks lower, and consumer sentiment slipped due to inflation fears. Buffett, Burry, and Tepper revealed large stakes in UnitedHealth, sending the stock to its best day since March 2020.
Share link:In this post: Trump and Putin held a three-hour meeting in Alaska but reached no agreement on ending the war in Ukraine. Zelenskiy was not invited, and no ceasefire or follow-up summit was confirmed. Trump claimed progress but admitted major issues remain unresolved.
- 02:10South Korean National Assembly proposes bill for the first time to include stablecoins under Foreign Exchange Transactions Act supervisionJinse Finance reported, citing Yonhap News Agency, that Park Sung-hoon, a member of South Korea's People Power Party, will propose a bill to amend the Foreign Exchange Transactions Act to include stablecoins within the legally defined scope of payment methods. The bill aims to revise Article 3, Paragraph 1, "Definitions," to list stablecoins alongside government-issued paper money, banknotes, and coins as payment methods. Representative Park stated that although the potential of stablecoins pegged to fiat currency as a new payment method is recognized, due to their nature being different from existing fiat currencies, they are not identified as payment methods under the Foreign Exchange Transactions Act, resulting in a regulatory blind spot. This could lead to illegal foreign exchange transactions and tax evasion through stablecoins. The Bank of Korea has previously expressed similar concerns, noting that US dollar stablecoins could be used for cross-border current account and capital transactions without following the reporting procedures stipulated by the Foreign Exchange Transactions Act, and warning that the spread of stablecoins may make it easier to conduct illegal transactions that evade foreign exchange regulations. South Korea's Ministry of Economy and Finance expressed agreement with the bill, stating that it is working with the Financial Services Commission, the central bank, and other relevant institutions to discuss specific regulatory measures.
- 02:02Four.Meme official X account has been suspended.According to Jinse Finance, the official X account of the token launch platform Four.Meme on a certain exchange has been frozen, as shown on X.
- 01:55Lighter responds to "HYPE abnormal order book data": caused by a runaway bot, no liquidations occurred, and no on-chain data was modified.BlockBeats News, October 28, regarding the abnormal price fluctuations in the HYPE market early this morning, Lighter stated on the X platform: "A runaway bot flooded the HYPE order book with large orders, but aside from this, there were no forced liquidations or other negative impacts. This trade was executed at an extremely high price with very low volume, resulting in a long upper shadow that caused issues with chart scaling. Therefore, this data has been removed from the frontend interface. It is important to emphasize that on-chain data has not been modified and cannot be modified; users can view it on the block explorer. Since we operate the main frontend interface, we present the chart in the way that is most helpful to traders; however, other frontends built on Lighter can choose different display methods as they see fit."