US third-quarter GDP came in above expectations
The advance estimate for US real GDP growth in the third quarter was 3.4% on an annualized quarterly basis, above the 3.2% forecast and higher than the previous reading of 2.20%.
At the same time, the advance annualized reading for core PCE prices in the third quarter was 2.5%, versus a 2.40% expectation and a prior reading of 3.30%. September core PCE rose 0.3% month over month, matching the 0.30% forecast, while the previous figure was revised from 0.20% to 0.3%. On a yearly basis, September core PCE was 3.1%, in line with the 3.10% expectation and above the prior 3.00%.
The analysis cited in the roundup said third-quarter GDP outperformed expectations while September inflation also moved higher, in line with broad market expectations.
ICE plans US perpetual futures market with Trade xyz
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is working with Trade xyz on plans to launch perpetual futures products in a regulated US market.
The two sides intend to build a new trading venue on Hyperliquid infrastructure. The plan includes separate clearing, know-your-customer checks, and anti-money-laundering systems. The derivatives would be tied to stocks, equity indexes, commodities, and foreign exchange. The business is still awaiting regulatory approval.
As part of the arrangement, ICE will make an equity investment in Trade xyz, though no details on the size of the investment were disclosed. Trade xyz had previously listed several on-chain perpetual derivatives on Hyperliquid, including products linked to crude oil and traditional stock indexes.
Bithumb says customer and employee data was exposed
Bithumb, South Korea’s second-largest crypto exchange, said in a detailed notice that its internal mobile collaboration system, DaouOffice, was hit by unauthorized external access for about one hour on the morning of Oct. 27.
The incident involved the illegal extraction of personal information tied to 6,444 customers, including names, mobile phone numbers, identification numbers, driver’s license numbers, bank account numbers, and copies of identity documents. Of those, data belonging to 5,600 people was encrypted and could not be directly viewed. Information tied to the remaining 844 people, along with 715 internal staff members and partner personnel, was confirmed to have been leaked.
Bithumb said the compromised collaboration system was physically separated from the exchange’s core trading architecture and asset databases, and that customer trading services and underlying asset data were not affected. The exchange also apologized and said it would provide full compensation for confirmed financial losses caused by the incident.
Beijing penalizes company in blockchain-related pyramid scheme case
Beijing’s Haidian District Administration for Market Regulation recently handled what it described as the city’s first case involving the use of blockchain and virtual-currency technology to assist a pyramid-selling operation. A technology company was fined and had illegal gains confiscated for a total of more than 930,000 yuan.
According to the roundup, the company provided outsourced services for a public chain project, including technical operations and maintenance, marketing, exchange integration, and ongoing support. The public chain had previously launched the "Atomic Plan" and the "Hathaway Plan," which required participants to put in funds to qualify for entry and offered rebates based on the number of recruits they brought in.
Regulators found that the company continued to provide technical and operational support even though it should have known the related projects were suspected pyramid schemes, making fund transfers and the spread of the scheme easier.
Canadian man sentenced after stealing 185 BTC
Trenton Johnston, a 20-year-old Canadian man, was sentenced to 25 months in prison by a federal court in Miami on Oct. 26 for taking part in crypto fraud and money laundering.
Investigators said Johnston had posed as support staff from Google and crypto companies since the age of 17, tricking victims into handing over wallet access credentials. One victim in California lost life savings totaling 185 BTC, worth about $13 million at the time.
Authorities said Johnston later used the stolen funds to buy a Lamborghini, two BMWs, and jewelry, and to rent private jets. He also shared methods used in the scheme through Discord. Johnston was arrested in March this year inside a Rolls-Royce and, after pleading guilty, surrendered about $3.8 million in stolen crypto assets.