OKX has completed a new funding round at a $25 billion valuation, with Circle, Ripple, Standard Chartered’s SC Ventures, and London-based quant hedge fund Qube Research & Technologies participating, according to a WuBlockchain roundup. The size of the round was not disclosed.
OKX said the new capital will be used to strengthen its long-term market infrastructure. The report said the round extends a financing completed in March, when Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, invested about $200 million in OKX at the same valuation.
Fortitude Mining signs letter of intent with Bitmain
Zcash mining company Fortitude Mining said it has signed a non-binding letter of intent with Bitmain that gives it priority allocation for Bitmain’s next-generation Zcash mining machines, with planned purchases of up to $100 million.
The machines have not yet been commercially launched. Delivery is expected to begin in the second quarter of 2027, and the final purchase size will depend on specifications, pricing, and a definitive purchase agreement.
At the same time, parent company DCG increased Fortitude’s credit facility from $50 million to $70 million. Fortitude plans to draw $20 million this week and receive the funds in ZEC to pay a refundable deposit.
Polymarket rolls out Protocol V2
Polymarket protocol lead Rajath Alex announced the launch of Polymarket Protocol V2, a full rebuild of the Gnosis Conditional Token Framework, or CTF, that the platform has used since 2019.
Under the new design, position token contracts are consolidated into a single ERC-1155 standard, pUSD becomes the unified collateral asset, and all market types run through one exchange and one router. The modular architecture natively supports binary markets, atomic negative risk, incremental negative risk, and combinatorial markets. It also adds an OracleAggregator that supports multiple oracle sources including UMA and Chainlink, while integrating a native cross-chain bridge module.
Mainnet testing is scheduled from Oct. 5 through Oct. 30. A full switch for newly listed markets is tentatively set for Nov. 2, alongside the release of a Rust-based Data API V2.
CFTC proposes first crypto market rule set
According to The Wall Street Journal, Commodity Futures Trading Commission Chair Michael S. Selig said the agency is proposing its first crypto market rules under two frameworks, Crypto Asset Transactions, or CTX, and Crypto Asset Markets, or CAM. The goal is to use existing statutory authority to create a federal oversight framework, along with listing and trading standards, for crypto asset trading platforms.
Under the proposal, crypto platforms that want CFTC oversight would have a single federal registration path. Eligible platforms would also be allowed to offer crypto trading with margin, leverage, or financing support to retail investors. Selig said the move is intended to shift away from a model that had largely relied on regulation through enforcement and toward clearer rules.
More detail on CTX and CAM
Selig also disclosed more detail on the CTX and CAM framework. The proposed rules would generally require retail crypto transactions to be intermediated through FCMs, while setting standards for customer asset segregation, capital, anti-money laundering controls, and proof of reserves.
For on-chain transactions, the CFTC is proposing to clarify that delivery of crypto assets to a user’s external self-custody wallet within 28 days would usually satisfy the actual delivery exception.
Selig also said the agency is studying a long-term policy approach for developers who only publish software, do not solicit or receive orders, do not control trade execution, and do not custody customer assets. He also cited a joint CFTC-SEC crypto asset classification that lists BTC, ETH, SOL, XLM, XTZ, and XRP as examples of digital commodities.
First atomic L1-to-L2 cross-chain transaction executed on Ethereum mainnet
Eduardo Antuña, a core contributor to Ethereum Economic Zone, or EEZ, said the first atomic cross-chain L1-to-L2 transaction has been successfully executed on Ethereum mainnet.
He said the result shows atomic synchronous composability has now been achieved on mainnet rather than remaining a theoretical concept. Antuña added that this is only the beginning of EEZ’s effort to advance synchronous cross-layer interaction and unified liquidity across Ethereum.