Odaily News: On October 7, digital asset company Tether signed a memorandum of understanding with the National Bank of Kazakhstan (NBK) and the Alatau City Authority (ACA). The three parties will explore stablecoin development, asset tokenization, and decentralized finance-related applications.

The three parties will jointly study international models for stablecoin issuance and potential application scenarios, and develop a stablecoin concept and pilot program pegged to Kazakhstan's national currency, the tenge, while also building the related infrastructure to support digital financial development.

The agreement also covers the establishment of an asset tokenization framework in Kazakhstan, including assessing the possibility of using Tether's tokenization platform Hadron, designing tokenization models within the jurisdiction of Alatau City, determining priority asset categories, and launching pilot projects.

Tether CEO Paolo Ardoino stated that Kazakhstan is exploring asset tokenization and a strategic reserve framework; Binur Zhalenov, Deputy Governor of the National Bank of Kazakhstan, stated that financial stability, transaction transparency, and investor protection are top priorities. (Tether News)

Odaily reports that Noah has announced the completion of a $38 million seed funding round, with participation from Endeit Capital, FJ Labs, LocalGlobe, Felix Capital, and several angel investors. The project's main business is providing stablecoin-based cross-border payment services for enterprises and individuals. The new funds will be used to expand its international remittance business, broaden its regulatory footprint, and more.

Odaily reports: Crypto wallet provider Tangem has announced the launch of its first physical Visa card, supporting in-store and online purchases as well as ATM withdrawals, with an initial limited release of 5,000 cards. Users can top up the card directly from their self-custodial wallet, and if the card is suspended or closed, funds can be transferred back to the wallet.

More than 40% of Tangem Pay payments come from Latin America, and over 30% from the United States. Tangem stated that the physical card currently cannot be shipped to approximately 20 countries and regions, including China, Russia, North Korea, and Palestine, with these restrictions affected by KYC, sanctions, banking rules, and card issuance compliance requirements.

Tangem Pay will also offer USDC cashback on eligible purchases, with 1% cashback for Basic users and 2% for Plus users. Tangem plans to showcase the first batch of physical cards during Token2049 in Singapore. (Cointelegraph)

1. Two wallets suspected to belong to the same whale or institution withdrew 110 million Lobster tokens, accounting for 11% of the total supply;

2. The U.S. Department of Justice cited the Bitcoin Fog precedent to oppose Roman Storm's motion for acquittal;

3. Russia registered its first batch of cryptocurrency exchanges and custodians, with Sberbank planning to launch products on December 1;

4. A U.S. Senate investigation points to USDT as a key liquidity channel for Iran's shadow banking system, with Gulf VASPs facing higher sanctions risk;

5. After Abstract's shutdown announcement, a newly created address withdrew $1 million to buy 25 Pudgy Penguins NFTs;

6. Polygon's official X account allegedly posted a mocking tweet about Abstract's shutdown, sparking controversy: the founder clarified it was a self-deprecating joke by the marketing team.

Odaily: Illia Polosukhin stated that as on-chain tools expand, users no longer need centralized exchanges for many crypto activities. near.com integrates cross-chain spot trading, tokenized stocks, yield products, and perpetual contracts into a single interface, and plans to add more fiat-related features, including bank withdrawals, tax transaction records, and selective disclosure for confidential transactions. NEAR has partnered with Monerium to support users in converting between euros in bank accounts and EURe via IBAN, with the ultimate goal of enabling NEAR Intents to support "any asset to any asset" swaps. After integrating Ondo Finance in September, near.com already offers tokenized stocks and plans to add stocks from more global markets; NEAR's Agent Market allows users to describe their needs in natural language, with the platform finding agents capable of executing the task, and funds will be released after the task is completed and verified.

Odaily reports that Bitcoin fell below $84,000, triggering liquidations of long bets worth $550 million. (CoinDesk)

Odaily reports: Multi-chain DEX Jumper has announced the JUMP token sale allocation plan. The sale received approximately $48.614 million in subscription commitments from 9,690 participants, exceeding the original $2 million target by 24 times, with a final accepted amount of $3 million.

In the final allocation, $1.64 million, approximately 55% of the total sale, was allocated to community wallets, with weighting primarily determined by Jumper Loyalty Pass (JLP) tier and ranking, giving higher priority to long-term, deeply engaged users.

The second-largest allocation category is strategic contributors, including angel investors, developers, traders, and content creators; an additional 5% was allocated to Republic participants. The waitlist category covers the top 500 participants, with rankings determined by a combination of Legion Score and referrals, with greater emphasis on Legion Score.

Existing Jumper users can improve their priority through waitlist ranking, but different weightings do not stack—only the highest qualifying tier applies.

Odaily reports: Europol released two reports on Wednesday, urging organizations, policymakers, and the cryptocurrency industry to immediately prepare for the threat of quantum computing. Its European Cybercrime Centre noted that cryptocurrency wallet keys are the primary exposure point for quantum attacks, while the hash functions used to secure blockchains currently remain largely quantum-resistant.

The reports state that a sufficiently capable quantum computer could derive private keys from exposed public keys, enabling attackers to transfer assets without authorization. Wallets whose public keys have already been exposed on-chain cannot be protected retroactively; holders need to migrate their assets to new wallets before an attack occurs.

Glassnode estimated in May that 6.04 million BTC, representing 30.2% of the issued supply, have exposed public keys. The reports note that NIST-standardized post-quantum signatures are 10 to 120 times larger than the ECDSA signatures currently used by Bitcoin, and migrating all Bitcoin unspent transaction outputs would require at least 76 cumulative days of downtime.

A second report published by Europol points out that commonly used protocols such as TLS, SSH, and OpenPGP face "harvest now, decrypt later" risks, but there is currently no clear evidence that this approach has been exploited at scale. The report argues that for payments, immediate interception within the brief window before transaction confirmation poses a more direct quantum risk than post-hoc decryption. (Decrypt)

Odaily News — On October 7, Gate founder and CEO Dr. Han delivered a keynote speech titled "One Gate, Everything Money" on the main stage at TOKEN2049 in Singapore, and announced the launch of Gate Money, a one-stop platform that brings together fiat currency, digital assets, stocks, payments, and asset management services. Currently, users can activate the feature with one click by updating the Gate App to version v8.39.0.

In his speech, Dr. Han pointed out that people hold and use money every day, but traditional financial services often scatter asset management, payments, and different types of assets across separate accounts and service systems. Gate Money aims to break down the boundaries between assets and payments, enabling users to manage their assets within the same account system and, when needed, directly use assets including stocks for everyday spending without having to sell them in advance — thereby achieving "let assets grow continuously, let value flow freely."

The launch of Gate Money further changes the traditional path in which the "holding, growth, and use" of assets are separated from one another, establishing a more direct connection between asset management and everyday funding needs. In the future, Gate will continue to expand its products and services, broaden the functional boundaries of assets, unlock greater value across scenarios such as holding, growth, liquidity, and payments, and further expand the application space of financial assets.

Odaily News: Digital asset project World Liberty Financial (WLFI) stated during a stablecoin panel discussion at Token2049 in Singapore that it plans to push USD1 onto major online enterprises. Mesh co-founder and CEO Bam Azizi, a payment infrastructure provider, announced a partnership with WLFI, allowing USD1 holders to use the stablecoin through its merchant network, with plans to go live this quarter.

WLFI is backed by the family of U.S. President Donald Trump. Its issued USD1 is issued by BitGo, with reserves including cash, U.S. government money market funds, and other cash equivalents, aimed at maintaining a value of 1 U.S. dollar. USD1 has a market capitalization of approximately $4.45 billion.

The U.S. Office of the Comptroller of the Currency (OCC) conditionally approved WLFI in August to establish a national trust bank for issuing dollar-backed stablecoins and custodying digital assets. WLFI CEO Zach Witkoff stated that USD1 is currently issued through BitGo, and after obtaining the trust bank charter, WLFI will assume issuance responsibility itself. (Cointelegraph)

Odaily News — Jeff Yan, co-founder and CEO of decentralized exchange Hyperliquid, said at Token2049 Singapore that Wall Street's traditional wealth creation model is unsustainable for most participants. Assets such as company stocks are often only opened to the public after listing, causing retail investors to miss the main growth gains before listing.

Jeff Yan stated that Hyperliquid's primary goal is to expand wealth creation opportunities and participation in the financial system, and that revenue is merely a byproduct of delivering user value, not an optimization target. Its perpetual contracts have no expiration date, which can reduce the number of decisions traders need to make and avoid liquidity fragmentation.

Hyperliquid generated $72 million in revenue over the past 30 days, ranking third among the highest-revenue DeFi protocols. In July this year, Pantera said that onchain perpetual contracts may become a mainstream trading tool in global financial markets due to their structural advantages.

Jeffrey Sprecher, CEO of Intercontinental Exchange, the parent company of the New York Stock Exchange, previously called on regulators to create a level playing field for around-the-clock onchain perpetual contracts. In March this year, NYSE partnered with tokenization platform Securitize to develop blockchain-based stock trading infrastructure. (Cointelegraph)

Odaily News: On October 7, Gate founder and CEO Dr. Han officially announced the launch of Gate Money during a keynote speech at TOKEN2049. Centered on the core concept of "One Gate, Everything Money," Gate Money leverages Gate's established diversified financial service capabilities to build a globally integrated financial services application, connecting digital assets, fiat currencies, stocks, ETFs, gold, bank accounts, payments, and asset management services into a single account, covering scenarios including asset holding, receiving funds, transfers, payments, exchanges, and yield. Users can experience Gate Money by updating the Gate App to version v8.39.0.

Gate Money supports users in managing multiple fiat currencies and digital assets under a single account, and provides fiat and on-chain deposits, withdrawals, transfers, and other functions. Eligible users can also upgrade to obtain a bank account in their own name for receiving funds and withdrawals. Meanwhile, Gate Money supports using different types of assets in the account, including stocks, for daily payment and spending. Gate Card supports online and offline purchases using fiat currencies or digital assets, and can be linked to digital wallets such as Apple Pay and Google Pay. Convert supports asset exchanges, while Earn offers yield products, with balances in assets such as USDT able to earn up to 3.6% yield with no lock-up required.

The launch of Gate Money further connects asset management, fund circulation, and daily payment scenarios, extending Gate's financial services from digital asset trading and asset management toward more fund and consumption needs. In the future, Gate will continue to expand asset categories, payment methods, and financial service capabilities, further enriching Gate Money's products and application scenarios.

Odaily News: Sui posted on X platform that it achieved a throughput of 40,614,180 transactions per second on-site at Sui Basecamp, setting a world record, with the data independently analyzed by CertiK. AI agents completed payments, interactions, and chats in programmable tunnels, with transactions executed off-chain and settled on Sui. Sui stated it is ready to support the agent economy.

Odaily reports: Bitget, in partnership with digital asset research firm Block Scholes, has released a new research report analyzing the synergistic effects of tokenized stocks and crypto assets within a unified trading account. In the report, Block Scholes simulated a portfolio with a total size of $1 million, comprising AI and semiconductor-related tokenized stocks, BTC and ETH perpetual contracts, and Nasdaq 100 ETF perpetual contracts. Under a structure with separate accounts, margin requirements would total approximately $340,000 in capital occupation. However, within Bitget's cross-asset unified account, tokenized stocks can simultaneously count as collateral, reducing the required capital occupation to approximately $175,000 — a reduction of about 48.5%.

The report also analyzed the risk characteristics associated with higher capital efficiency. Stress tests showed that when collateral and positions are driven by the same macroeconomic factors, a simulated portfolio using tokenized stocks as collateral reached its estimated liquidation point after a roughly 21% correlated market decline; when equivalent USDT was used as collateral, it withstood a roughly 27% correlated decline. The research indicates that while improving capital efficiency, it is also necessary to comprehensively assess the correlation between collateral and positions as well as their individual volatility.

Bitget CEO Gracy Chen stated that bringing assets on-chain is only the first step; more importantly, it is about improving the efficiency of capital utilization across different markets. Bitget is advancing the UEX model to facilitate the coordinated operation of crypto assets, tokenized stocks, and other global assets within a unified capital framework. Currently, Bitget's Universal Trading Account (UTA) supports over 370 eligible collateral assets, including 125 tokenized US stocks. Eligible crypto assets and tokenized stocks can enter the same margin system, sharing collateral value and being used to meet margin requirements across different positions.

Odaily News: A report by the U.S. Senate Permanent Subcommittee on Investigations (PSI) has identified stablecoins, particularly USDT, as a key liquidity channel supporting Iran's shadow banking system. Licensed Virtual Asset Service Providers (VASPs) in the Gulf Cooperation Council (GCC) region face heightened sanctions compliance pressure and need to strengthen wallet attribution identification and counterparty assessment.

Soham Jethani, a partner at law firm Septten, stated that merchants settling crypto assets into local fiat currency does not mean they can circumvent sanctions risk. Liability may arise from providing designated persons, funds, or economic resources, as well as handling assets within the transaction chain, and may materialize before the bank completes final settlement.

Jethani noted that the name of a stablecoin or its denomination currency does not determine legal ownership; specific rights depend on contractual arrangements and the actual payment process. Globally circulating stablecoins may also bring secondary sanctions risk. Indirect or historical wallet associations do not automatically constitute a violation; determination requires consideration of the applicable regime, transaction participants, and specific facts.

In regulated markets such as the UAE, licensed exchange wallets are continuously monitored, and relevant funds can be frozen before consumer settlement, while merchants must also complete KYC. Regulated VASPs handling deposits and withdrawals bear responsibility for counterparty and sanctions risk assessment and corresponding controls. (Bitcoin.com News)

Odaily reports that according to Gate data, the Euro Stoxx 50 (EUSTX50) dropped to 6,200 points, currently at 6,197.14 points, with a 24-hour decline of 1.6%.