KAST

1 days ago

KAST says it will not issue a platform token and plans to convert user points into Pioneer Units

Stablecoin payments platform KAST said it does not plan to launch a platform token. Instead, founder Raagulan Pathy said the company aims to convert user points into KAST Pioneer Units, which would be issued by a special purpose vehicle affiliated with KAST. Pathy said the structure has completed legal reviews across multiple jurisdictions and has received investor approval. Users are expected to be able to confirm the conversion in the app in early December. He also said KAST plans to hold regular redemption events, though the company cannot commit to any specific redemption amount, timing, or return. According to Pathy, the goal is to let community users share in KAST’s growth while avoiding the incentive misalignment that can come with a traditional token issuance.

70

Donald Trump

1 days ago

Trump says he would consider preemptive pardons for Musk allies if Democrats retake Congress

U.S. President Donald Trump said he would be willing to offer preemptive pardons to Elon Musk and people close to him if Democrats regain control of Congress after the midterm elections, according to Bloomberg as cited by Odaily. Trump said the move would be aimed at shielding them from congressional investigations. In the same interview, he rejected the idea that Democrats might seek to nationalize Musk’s SpaceX, but said he would protect the billionaire entrepreneur and aides who could be targeted by congressional probes. He specifically mentioned Edward Coristine, who had worked on cuts tied to Musk’s Department of Government Efficiency, or DOGE. Trump said that, if needed, such protection could include pardons issued in advance. He pointed to former President Joe Biden’s use of preemptive pardons as justification, including pardons for his son Hunter Biden and for several government officials who could have faced retaliation from a second Trump administration. Trump also referenced Biden’s pardons for people involved in the investigation of the Jan. 6, 2021 attack on the U.S. Capitol.

80

Bitget

1 days ago

Xie Jiayin Teases New Bitget IPO Subscription, With Larger Allocations for VIP Users

Bitget Greater China head Xie Jiayin has hinted at an upcoming IPO-style subscription event on the exchange, posting 「IPO is coming?」 on X. He said users who top up funds and become VIP members can unlock larger subscription allocations. The post quoted an earlier message from Bitget’s official account, which said 「it may end humanity」 and used an image carrying the words 「coming soon on Bitget」 over a blurred 「AI」 background. Bitget has not disclosed the project name or the detailed subscription rules so far. The exchange’s teaser leaves the listing target and allocation structure undisclosed at this stage, with only the VIP-related allocation hint confirmed in Xie’s post.

140

Israel

1 days ago

Israeli crypto industry pushes back on Netanyahu proposal to use crypto to bypass sanctions

Israel’s crypto industry is pushing back after Prime Minister Benjamin Netanyahu proposed using cryptocurrencies to bypass potential banking sanctions, a suggestion that was quickly opposed by the Bank of Israel. Industry figures said the remarks could create problems well beyond domestic politics. Tomer Sharoni, CEO of Addressable, and Ran Hammer, CEO of Orbs, warned that such messaging may trigger extra scrutiny from overseas exchanges and banks dealing with Israeli crypto businesses, while also hurting the reputation of the country’s Web3 sector. Sharoni also laid out an alternative policy path. He said Israel should establish a regulatory sandbox jointly led by the central bank, the Israel Securities Authority, and the Capital Market Authority. He also called for a licensing regime for virtual asset service providers that aligns with the European Union’s Markets in Crypto-Assets regulation, or MiCA, as well as the Financial Action Task Force’s Travel Rule. In addition, he urged authorities to address access to banking services.

120

Bitcoin

1 days ago

Jameson Lopp republishes chart set comparing Bitcoin inflation with other currencies

Casa co-founder Jameson Lopp said on X that he has fully revised and republished a project first released in 2022. The project is a collection of charts that compares Bitcoin’s inflation rate with those of other currencies and shows how those figures relate to one another. Lopp also said he is open to suggestions for adding more charts. The update was disclosed in a post on X and was cited by Techub News. No further details on the added charts or specific revisions were provided in the source material.

90

Binance

1 days ago

Binance says new reserve snapshot is planned for Nov. 4 as recovery work continues

Binance has released another update on its recovery work following its security incident, saying the zero-knowledge proof for its Oct. 31 proof-of-reserves snapshot has been generated and can now be independently verified by users. The exchange said the affected assets tied to the incident have been replenished with Binance’s own funds. According to the announcement, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are all backed by 100% reserves. Binance also said it completed a fresh proof-of-reserves snapshot at 08:00 on Oct. 31, 2026, Beijing time, to show users its latest reserve position. The company plans to generate another reserve snapshot on Nov. 4, 2026 and expand token coverage before producing an updated full zero-knowledge proof. Binance said the computation is heavy and is expected to take about 40 to 50 hours. It added that roughly 95% of affected assets have already been replenished, while the remaining 5% mainly involves tokens outside the top 10 by market capitalization. Binance also said it is working to restore withdrawals for more networks and assets, with the next phase expected to open tomorrow.

130

Bitcoin

1 days ago

Bitcoin options volatility curve shows an election bump as traders watch the U.S. midterms

Bitcoin options markets are pricing in a short burst of volatility around the U.S. midterm elections, while traders appear less convinced that the event will trigger a longer period of market stress. According to CoinDesk, the term structure of implied volatility in bitcoin options shows a clear bump at the Nov. 4 expiry, where IV stands near 43.5%, compared with roughly 36% for contracts expiring later. That pattern suggests the market is assigning a premium to the period immediately after election day, when early vote counts and media projections could move prices. Ether options are showing a similar shape, with implied volatility expected to ease back to around 36% by late November. At the same time, open interest in bitcoin and ether futures was broadly steady over the past 24 hours at about $58 billion and $23.58 billion, respectively. The positioning points to traders using options to hedge existing exposure rather than adding fresh futures bets. Laevitas said demand for downside protection could fade quickly once the election event passes, which could flatten the current bump in the IV curve. Bitcoin and ether were trading above $78,000 and $2,290 after rebounding from lows seen following Friday’s attack on Binance, while U.S. spot bitcoin ETFs recorded about $643 million in net outflows on Friday, the largest one-day outflow since June.

100

Donald Trump

1 days ago

Trump-led Justice Department steps into midterm election disputes before vote count is complete

The U.S. Department of Justice under President Donald Trump has moved into disputes tied to Tuesday’s midterm elections before ballots have been fully counted and before results have been certified. According to Odaily, the department has used both lawsuits and a criminal investigation at this stage, a break from a long-standing practice of avoiding actions that could be seen as using law enforcement power to aid a particular party or candidate. The move has drawn concern that the government could influence election outcomes through early intervention. In California, the Justice Department asked a court to exclude roughly 20,000 mail ballots on the grounds that the voters involved may not be U.S. citizens and therefore may be ineligible to vote. It also asked the state to provide records tied to a criminal probe. California said it had already taken steps to prevent non-citizens from voting and argued that the department has no authority to block those ballots from being counted. Courts have so far rejected related Justice Department lawsuits against California and Alaska, though the department has appealed the ruling in the Alaska case.

90

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