Cointelegraph.com
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Cointelegraph.com - 13:20 Oct 02, 2025
China’s 2021 crypto ban remains intact, and lawyer Joshua Chu explains why supposed loopholes in Hong Kong and beyond are illusions that end in crackdowns. Chinas crypto ban has been in place since 2021, but that hasnt stopped companies from chasing what they believe are ways to reenter. Hyped-up stablecoin announcements in Hong Kong and overseas listings that hint at digital assets are just some of the ways companies are testing boundaries. Each time, Beijing responds with fresh warnings a stark reminder that Chinas crypto U-turn isnt around the corner. The latest warning reportedly came from the China Securities Regulatory Commission, which advised companies to pause real-world asset ventures in Hong Kong. It followed a state-owned company scrubbing announcements about tokenizing bonds and other enterprises revealing RWA projects, piling on recent warnings against stablecoins after Hong Kong introduced its licensing framework. Read more -
Cointelegraph.com - 13:20 Oct 02, 2025
China’s 2021 crypto ban remains intact, and lawyer Joshua Chu explains why supposed loopholes in Hong Kong and beyond are illusions that end in crackdowns. Chinas crypto ban has been in place since 2021, but that hasnt stopped companies from chasing what they believe are ways to reenter. Hyped-up stablecoin announcements in Hong Kong and overseas listings that hint at digital assets are just some of the ways companies are testing boundaries. Each time, Beijing responds with fresh warnings a stark reminder that Chinas crypto U-turn isnt around the corner. The latest warning reportedly came from the China Securities Regulatory Commission, which advised companies to pause real-world asset ventures in Hong Kong. It followed a state-owned company scrubbing announcements about tokenizing bonds and other enterprises revealing RWA projects, piling on recent warnings against stablecoins after Hong Kong introduced its licensing framework. Read more -
Cointelegraph.com - 13:20 Oct 02, 2025
China’s 2021 crypto ban remains intact, and lawyer Joshua Chu explains why supposed loopholes in Hong Kong and beyond are illusions that end in crackdowns. Chinas crypto ban has been in place since 2021, but that hasnt stopped companies from chasing what they believe are ways to reenter. Hyped-up stablecoin announcements in Hong Kong and overseas listings that hint at digital assets are just some of the ways companies are testing boundaries. Each time, Beijing responds with fresh warnings a stark reminder that Chinas crypto U-turn isnt around the corner. The latest warning reportedly came from the China Securities Regulatory Commission, which advised companies to pause real-world asset ventures in Hong Kong. It followed a state-owned company scrubbing announcements about tokenizing bonds and other enterprises revealing RWA projects, piling on recent warnings against stablecoins after Hong Kong introduced its licensing framework. Read more -
Cointelegraph.com - 13:20 Oct 02, 2025
China’s 2021 crypto ban remains intact, and lawyer Joshua Chu explains why supposed loopholes in Hong Kong and beyond are illusions that end in crackdowns. Chinas crypto ban has been in place since 2021, but that hasnt stopped companies from chasing what they believe are ways to reenter. Hyped-up stablecoin announcements in Hong Kong and overseas listings that hint at digital assets are just some of the ways companies are testing boundaries. Each time, Beijing responds with fresh warnings a stark reminder that Chinas crypto U-turn isnt around the corner. The latest warning reportedly came from the China Securities Regulatory Commission, which advised companies to pause real-world asset ventures in Hong Kong. It followed a state-owned company scrubbing announcements about tokenizing bonds and other enterprises revealing RWA projects, piling on recent warnings against stablecoins after Hong Kong introduced its licensing framework. Read more -
Cointelegraph.com - 13:15 Oct 02, 2025
"South Park" is back to roasting crypto in its recent episode, but digital assets like Bitcoin have been a pop culture punchline for a long time. “South Park” extended its running gag on cryptocurrency in a recent episode, taking aim at prediction markets, trading apps, US regulators and politicians tied to the industry. Now in its 27th season, the animated series has built its reputation on unhinged satire of global events. Crypto has repeatedly taken some hits. Not everyone enjoys being lampooned on TV shows — the White House recently condemned its depiction of President Donald Trump in a relationship with Satan — but earlier crypto references were often embraced within the industry as proof of mainstream recognition. Read more -
Cointelegraph.com - 13:13 Oct 02, 2025
US First Lady Melania Trump promoted her MELANIA token in an AI video, but questions linger over $10 million in team token sales and a 98% price collapse. US First Lady Melania Trump has resumed promoting her Solana-based memecoin, MelaniaMeme (MELANIA), after months of silence, even as the project faces ongoing questions about millions of dollars in unexplained token sales. In a Thursday X post, Trump returned with an artificial intelligence-generated video promoting the Official MelaniaMeme token as the path “into the future,” tagging the official X account of the memecoin. However, blockchain analysts were quick to note that the promotion did not address concerns over token sales by team wallets. Read more -
Cointelegraph.com - 12:05 Oct 02, 2025
Despite dominating stablecoin inflows, Tether’s USDt and Circle’s USDC have slowly lost market share, signaling the end of the “stablecoin duopoly.” Tether’s USDt and Circle’s USDC, the two largest stablecoins by market capitalization, have slowly lost market share in the past year, suggesting a major shift in the stablecoin landscape. Despite Tether’s USDt (USDT) and Circle’s USDC (USDC) steadily increasing their market caps, the stablecoins have lost more than 5% of their combined market share since Oct. 2, 2024, according to data from DefiLlama and CoinGecko. Nic Carter, industry analyst and Castle Island Ventures partner, took to X on Wednesday to address the decline of USDT and USDC dominance in a post titled “The stablecoin duopoly is ending.” Read more -
Cointelegraph.com - 11:42 Oct 02, 2025
Tether is estimated to be the crypto company closest to rivaling OpenAI’s $500 billion valuation, far ahead of Coinbase, Ripple and Circle. Artificial intelligence company OpenAI has become the world’s largest startup after reaching a $500 billion valuation in a secondary share sale. Citing anonymous sources, Bloomberg reported on Thursday that current and former OpenAI employees sold $6.6 billion in stock to investors including Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX and T.Rowe Price. The investment round boosted OpenAI's valuation to $500 billion, leapfrogging Elon Musk’s startup SpaceX, which has a market capitalization of about $400 billion. The company also dwarfed startups ByteDance and Anthropic, which are valued at $220 billion and $183 billion, respectively. Read more -
Cointelegraph.com - 01:00 Oct 02, 2025
The Instant Tokenization Network allows institutions to mint and redeem tokenized US stocks with in-kind settlement and 24/7 access. US broker-dealer Alpaca has launched an Instant Tokenization Network (ITN) that allows institutions to mint and redeem tokenized US stocks directly, a move that could help boost onchain liquidity in a segment of the tokenization market still constrained by structural barriers. The ITN enables institutions to tokenize portfolios with a single API call and redeem tokens in-kind for the underlying shares without settlement delays, Alpaca disclosed Wednesday. The service operates beyond traditional market hours, offering 24/7 access. By allowing in-kind redemptions — directly exchanging tokens for their underlying assets rather than settling in cash first — the network aims to make tokenized stocks more liquid and efficient. Read more -
Cointelegraph.com - 00:10 Oct 02, 2025
Bullish’s crypto trading services are now on offer across 20 US states after receiving regulatory approval from New York’s financial regulator last month. Institutionally-focused crypto trading platform Bullish has launched in 20 US states after receiving a BitLicense and a money transmission license from the New York financial services regulator last month. Bullish debuted spot trading with two institutional clients on its first day: crypto infrastructure firm BitGo and crypto brokerage Nonco, it said on Wednesday. Some of the largest states where trading on Bullish is now accessible include California, Florida, Arizona, Washington, DC, and New York, where the New York State Department of Financial Services approved Bullish’s BitLicense and money transmission license. Read more -
Cointelegraph.com - 22:08 Oct 01, 2025
Galaxy Research’s latest report finds that memecoins draw new users into crypto, but the spoils go to enrich launchpads, exchanges and bots rather than traders themselves. Memecoins may attract new users to blockchains, but the profits largely flow to the platforms that launch and trade the tokens, according to a new report from Galaxy Research. The study released on Wednesday shows that while most traders lose money in a short-term gambling market, infrastructure providers such as launchpads, decentralized exchanges and trading bots capture millions in revenue by facilitating memecoin trading. Solana’s Pump.fun, a memecoin launchpad that debuted in early 2024, has been a major beneficiary, with tokens on the platform representing a combined $4.8 billion in fully diluted market value, as per the report. Read more -
Cointelegraph.com - 21:41 Oct 01, 2025
Travis Hill has served as acting FDIC chair since Donald Trump took office on Jan. 20, later issuing guidance on crypto-related activities and criticizing allegations of debanking. US President Donald Trump sent the nomination of acting chair of the Federal Deposit Insurance Corporation (FDIC), Travis Hill, to the Senate for consideration to assume the government role for a five-year term. According to congressional records, Trump’s nomination of Hill as FDIC chair was sent to the Senate Banking Committee on Tuesday. Before assuming his role at the FDIC, Hill issued a statement that the department should offer additional guidance on digital assets and tokenization and spoke out against allegations of US authorities debanking companies due to their ties to crypto. He followed with a letter aimed at financial institutions in March, clarifying that banks could engage with digital assets as a ”permissible activity.” Read more -
Cointelegraph.com - 21:29 Oct 01, 2025
Bitwise’s Hunter Horsley says Solana’s shorter unstaking period gives it an advantage over Ethereum in the race for staking ETFs, as US regulators prepare key decisions in October. Bitwise CEO Hunter Horsley says Solana may gain an edge over Ethereum in the staking exchange-traded fund (ETF) market, pointing to its design as more favorable for investors. Speaking with Cointelegraph editor Andrew Fenton at Token2049 in Singapore, Horsley argued that Solana’s quicker unstaking period gives it an advantage over Ethereum. For instance, Ethereum’s withdrawal queue recently reached new highs, while Solana’s typically clears faster. Horsley said that difference matters for issuers who must be able to return assets to investors quickly. “It’s a huge problem,” Horsley said. “The ETFs need to be able to return assets on a very short time frame. So this is a huge challenge.” Read more -
Cointelegraph.com - 21:11 Oct 01, 2025
Injective launches onchain pre-IPO perpetuals for companies like OpenAI, offering leveraged exposure and a decentralized alternative to Robinhood’s tokens. Injective Protocol, a layer-1 blockchain focused on decentralized finance, is launching onchain pre-IPO perpetual markets, giving global investors access to trade synthetic versions of major private companies such as OpenAI. The new offering allows users to take up to five times leveraged positions on private company valuations directly through Injective, a move the protocol says distinguishes it from centralized pre-IPO products offered by platforms like Robinhood. According to Injective’s announcement on Wednesday, the Pre-IPO perpetuals are powered by onchain data sourced from Seda Protocol, which provides decentralized oracle infrastructure to bring price data onto blockchains, and Caplight, which aggregates private market pricing data for venture-backed companies. Read more -
Cointelegraph.com - 20:25 Oct 01, 2025
Senate lawmakers debated whether cryptocurrencies should have special tax exemptions to encourage everyday use and the industry's growth. US lawmakers debated crypto tax policy at Wednesday’s Senate Committee on Finance hearing, including possible tax exemptions for crypto transactions below a certain threshold and how income from staking services should be classified. Lawrence Zlatkin, the vice president of tax at crypto exchange Coinbase, urged the Senate committee to consider a de minimis tax exemption for cryptocurrency transactions under $300 to encourage commercial use in payments and ensure innovation occurs inside the US. Zlatkin said: Lawmakers also grappled with how to close the annual tax gap of about $700 billion through enforcing tighter reporting requirements for cryptocurrency transactions, minimizing tax exemptions, and potentially classifying revenue from staking services as earned income subject to taxation under the tiered income tax system. Read more -
Cointelegraph.com - 19:50 Oct 01, 2025
It’s unclear when US President Donald Trump could announce another pick to chair the CFTC amid a government shutdown with no end in sight. Update (Oct. 1 at 8:35 pm UTC): This article has been updated to include a statement from Summer Mersinger. The future leadership of the US Commodity Futures Trading Commission (CFTC), already having faced four commissioner departures in 2025, hangs in the balance after the White House withdrew Brian Quintenz’s nomination. On Tuesday, Quintenz, a former commissioner and head of policy at Andreessen Horowitz’s crypto division, confirmed that the White House had withdrawn his nomination as CFTC chair more than seven months after it was officially announced. The withdrawal came following reports suggesting that Gemini co-founders Cameron and Tyler Winklevoss, both donors and supporters of US President Donald Trump, had been pressing the White House to reconsider Quintenz. Read more -
Cointelegraph.com - 19:03 Oct 01, 2025
Traders and data suggest that Bitcoin may benefit from the US government shutdown, but how long will the gains last? Key takeaways: Yields on US 10-year Treasurys declined, highlighting growing risk aversion and demand for safe-haven assets. Spot Bitcoin ETFs faced $430 million inflows while equities stayed muted, signaling potential decoupling from traditional markets. Read more -
Cointelegraph.com - 17:53 Oct 01, 2025
Bitcoin started October on a strong note by rallying to $118,200. That clears the path for BTC to chase new all-time highs. Which altcoins could follow? Key points: Bitcoin has broken above the $117,500 resistance, opening the gates for a retest of the all-time high at $124,474. Several altcoins have started a strong relief rally, signaling solid buying at lower levels. Read more -
Cointelegraph.com - 17:43 Oct 01, 2025
In addition to restrictions on enforcement actions and ongoing litigation, the agency will likely stop reviewing crypto ETF applications. Members of the US Securities and Exchange Commission (SEC) began shutting down operations on Wednesday under a lapse in government funding, with most staff directed to secure their work and prepare for what could be a days-long pause in operations. According to a Wednesday notice on X, about nine hours after US lawmakers were unable to pass a bill to continue funding the government, the SEC was operating in accordance with a plan set up in August. The plan stated that the agency would have an “extremely limited number of staff” and many of its systems would operate “under modified conditions.” “On the first workday of a lapse in appropriations, non-excepted staff will engage in activities to shut down their respective operations, to secure their workstations and work materials, and to prepare for the rapid restart of operations when funding is renewed,” said the SEC. Read m... -
Cointelegraph.com - 17:11 Oct 01, 2025
The regulator stated that farmland must be used only for agricultural purposes to qualify for government services, subsidies, and utilities. The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), the agricultural regulator for the emirate of Abu Dhabi, United Arab Emirates (UAE), announced a ban on using agricultural land for crypto mining. Violators will face a 100,000 AED fine ($27,229), and the ADAFSA will suspend municipal services, confiscate mining hardware, and disconnect the farmland from the electrical grid, according to Tuesday’s announcement. ADAFSA said that using farmland for crypto mining conflicts with “sustainability” policies in the region and undermines existing land use provisions. Read more
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