24H Trending Coins and News | CFTC Investigates Whether Polymarket Violates Agreement Prohibiting U.S. Users; Nvidia Plans to Invest $3 Billion to Subscribe to Meta Equity and Expand AI Infrastructure Cooperation (October 28)
- Core Viewpoint: The U.S. crypto regulatory framework is taking shape at an accelerated pace. The CFTC and SEC are advancing regulation in coordination and are clashing with state governments over jurisdiction of prediction markets, while traditional financial institutions and leading exchanges are deepening cooperation on crypto infrastructure.
- Key Elements:
- U.S. Treasury Secretary Bessent said he will leverage SEC and CFTC actions to advance the crypto regulatory framework, and that stablecoins will expand demand for the dollar and U.S. Treasuries.
- The CFTC is investigating whether Polymarket violated its 2022 agreement banning U.S. users, and has sued Utah over restrictions on prediction markets.
- JPMorgan, Citi, and PNC provide crypto services relying on Coinbase infrastructure; BNY Mellon supports custody of XRP and RLUSD.
- Ripple and Robinhood have reached a stablecoin strategic partnership. RLUSD will be listed on the Robinhood App and used for XRPL institutional settlement.
- Hyperliquid has partnered with Kraken parent company Payward to bring on-chain perpetual contract markets to the United States.
- Binance has applied for a crypto license in Brazil and delisted 22 local assets; Coinbase will convert 14 restricted assets for EEA users in 2026.
- Nvidia plans to invest $3 billion to subscribe to Meta equity, and the two sides will expand AI infrastructure cooperation.
1. Top Trending CEX Tokens
Top 10 CEX tokens by trading volume and 24-hour price change:
- BTC: +0.83%
- ETH: +1.07%
- ZEC: +5.46%
- SOL: +0.31%
- NEAR: +3.37%
- XRP: +1.36%
- BNB: +0.00%
- SOXLB: +6.58%
- ENA: +0.34%
- TRX: +0.73%
Top 24-hour gainers (source: OKX):
- xUSAR: +16.18%
- DOS: +16.09%
- xSOFI: +14.26%
- ASP: +13.18%
- HUMA: +13.13%
- xINFQ: +12.70%
- GRVT: +11.26%
- GRASS: +10.67%
- DOOD: +10.59%
- xAEHR: +9.79%
Top 24-hour tokenized stock gainers (source: msx.com):
- MRLN: +32.79%
- AEHG: +25.87%
- CRDU: +20.83%
- CIFU: +19.79%
- ALMU: +19.36%
- APLX: +17.94%
- USAR: +16.72%
- IREX: +15.55%
- SMCX: +15.20%
- AAOX: +14.27%
2. Top 5 Trending On-Chain Meme Tokens (source: GMGN):
- Frongus (Solana)
- INVERSE (Solana)
- MOGZ (Solana)
- Gangstar (BSC)
- GENI (BSC)
Headlines
CFTC Investigates Whether Polymarket Violated 2022 Agreement Barring U.S. Users
The U.S. Commodity Futures Trading Commission (CFTC) is investigating whether prediction market platform Polymarket violated its 2022 agreement with regulators barring U.S. users. The investigation concerns Polymarket's U.S. controls, advertising campaigns, and customer onboarding and protection measures on its U.S. platform. In 2022, Polymarket settled with the CFTC for $1.4 million over offering unregistered event contracts.
Nvidia (NVDA.O) plans to invest $3 billion in Meta's equity offering. In addition, the two parties will expand deployments of Nvidia's Vera Rubin, Vera CPU, Spectrum-X, and BlueField-4, and are considering collaboration around the OpenShell reference architecture and Nvidia Sentry.
U.S. Treasury Secretary: Will Advance Crypto Regulatory Framework Through SEC and CFTC Actions
U.S. Treasury Secretary Bessent said at the Ripple Swell conference that Congress's failure to pass the CLARITY Act is disappointing, but the Treasury Department has "a lot of convening power" and can work with the SEC and CFTC to advance a crypto regulatory framework through regulatory actions, calling the two agencies "excellent partners." Bessent said the CLARITY Act could have prevented a repeat of "de-banking," but such situations can still be avoided by establishing regulatory best practices and protection mechanisms. He also said stablecoins will expand demand for the U.S. dollar and U.S. Treasuries, becoming an important funding source for the U.S. Treasury.
Industry News
Korean crypto exchange Bithumb, Mirae Asset Management, and Daishin Securities have all confirmed they were hacked, and relevant authorities are assessing the incidents.
Among them, Daishin Securities stated this morning that the attack resulted in the leak of personal and credit information of 38,490 customers. The specific scope of impact on Bithumb and Mirae Asset Management has not yet been disclosed.
JPMorgan, Citi, and PNC Use Coinbase Infrastructure to Provide Crypto Services
Bitcoin News posted that Brett Tejpaul, co-CEO of Coinbase Institutional, said major U.S. banks are increasingly relying on Coinbase to provide digital asset service infrastructure. PNC private banking clients can buy, sell, and hold Bitcoin directly through its platform; JPMorgan is integrating Chase accounts, bank cards, and rewards with Coinbase but will not offer Bitcoin trading within the bank's app; Citi is partnering with Coinbase to provide stablecoin payment services for enterprises.
Hyperliquid Partners with Kraken Parent Payward to Bring On-Chain Perpetuals Market to the U.S.
Hyperliquid co-founder jeff posted that he is pleased to partner with Kraken parent company Payward to advance on-chain derivatives based on Hyperliquid infrastructure and bring a new generation of perpetual futures markets to the United States.
jeff said Kraken is one of the most trusted exchanges in the crypto industry and a staunch supporter of blockchain technology and crypto ideals, and that Hyperliquid is honored that Kraken chose to build on it.
Millennium, which manages approximately $97 billion, is developing tools for its portfolio managers to use data from prediction market platforms such as Polymarket and Kalshi as trading signals for traditional asset classes. Some portfolio managers are interested in data related to geopolitics, economics, and commodities markets. People familiar with the matter said Millennium does not currently trade prediction market contracts directly. Millennium, Polymarket, and Kalshi all declined to comment. Previously, market makers such as Susquehanna and Jump Trading entered the prediction market space, and AQR expanded its prediction market quantitative research team this summer.
SK Hynix Announces 100 Trillion Won Shareholder Return Plan, Memory Shortage to Persist Until 2030
SK Hynix (SKHY.O) reported quarterly profit growth of more than 7x year-over-year and announced an additional shareholder return plan of 100 trillion won (approximately $75 billion) for 2026. The company reported operating profit of 83.3 trillion won for the quarter ended September (expected 76.7 trillion won), with revenue rising to 104.6 trillion won (expected 98.3 trillion won), both setting quarterly records. Driven by supply tightness, the company's operating margin remains at historic highs. The company said Wednesday that it expects the memory chip supply shortage to persist until 2030. On the other hand, the company's analysis suggests that the technical difficulty of advanced processes continues to rise, and building new semiconductor fabs takes considerable time, thus constraining supply expansion. The company expects that in the near term, enterprise and consumer adoption of AI will drive memory demand, while in the medium to long term, physical AI applications such as autonomous driving and robotics will become the driving force for demand growth.
Project News
Ripple and Robinhood Announce Stablecoin Strategic Partnership
Ripple and Robinhood announced a strategic partnership under which Robinhood's retail and institutional trading platforms will integrate Ripple's stablecoin, institutional market, and treasury management infrastructure. RLUSD is now live on Robinhood Chain and Bitstamp by Robinhood and will launch on the Robinhood App later this year; Robinhood will also use RLUSD for institutional settlement on the XRPL.
BNY Mellon Supports XRP and RLUSD Custody, Explores Tokenized Trade Finance with Ripple
According to Ripple's official announcement, BNY Mellon (BNY) now supports XRP and the USD stablecoin RLUSD on its digital asset custody platform, allowing eligible institutional clients to custody, hold, and transfer related assets through the platform. The two parties are further expanding their digital asset cooperation on the basis of existing RLUSD reserve custody and Ripple Prime custody collaboration. BNY plans to expand support for tokenized assets and investment products on the XRP Ledger (XRPL) and work with Ripple to enable clients to mint and redeem RLUSD directly through BNY in the future. The two parties are also exploring an XRPL-based supply chain finance solution with working capital platform C2FO to tokenize trade finance assets such as receivables and broaden investor participation.
ENSv2 Officially Launches on Ethereum Mainnet, Existing .eth Domains Can Voluntarily Upgrade
ENSv2 has officially launched on Ethereum mainnet, introducing a hierarchical registry and a more granular permission model that supports communities and institutions in customizing subdomain issuance rules and managing partitioned authorization. The new version also updates domain resolution methods and supports record link sharing, while launching an ENS App for general users and an ENS Explorer for developers. ENS said its ecosystem now supports over 36 million domains across more than 600 applications; existing .eth domains do not need to be re-registered and can voluntarily upgrade to ENSv2 within the ENS App starting today.
Ondo Announces 15 Tokenized Stocks Launch on Robinhood Chain
Ondo announced that 15 tokenized stocks and ETFs are now live on Robinhood Chain, with 11 of them open for trading in Uniswap v4 StablePair liquidity pools. The relevant pools allow traders to swap directly between Ondo Stocks and Robinhood Stock Tokens that track the same underlying assets, while liquidity providers can earn fees by providing liquidity.
Ondo said its tokenized stocks support round-the-clock minting and redemption, providing traders with an additional source of liquidity, exit channels, and arbitrage opportunities during periods when Robinhood Stock Tokens suspend minting and redemption on weekends, helping to narrow the deviation between on-chain prices and underlying asset prices. The 15 assets launched this time also include four assets without corresponding Robinhood Stock Tokens, such as Robinhood (HOODon), iShares China Large-Cap ETF (FXIon), BitMine (BMNRon), and the United States Copper Index Fund (CPERon).
Ondo Stocks can be bridged between Robinhood Chain and BNB Chain or Ethereum via Ondo Bridge, with minting and redemption taking place on the latter two.
Funding and Investment
AI compute startup General Compute has completed a $100 million Series A round led by Blackbird Ventures and Abstract Ventures, reaching a post-money valuation of $800 million, a significant increase from $60 million after its seed round in May this year. The funding was supported by an order from a large customer with $100 million in annual recurring revenue.
General Compute focuses on AI inference compute, using specialized chips from Nvidia competitors, and has reached a $400 million chip procurement agreement with SambaNova, with suppliers also including Positron and Cerebras. Unlike the traditional path of building large data centers, the company deploys AI compute by leasing data center space, utilizing smaller-scale power resources, and retrofitting Bitcoin mining farms, with plans to deploy 75 megawatts of compute by 2027. Amid CoreWeave's stock falling to a nearly 12-month low and Elon Musk's prediction that more than 200 new cloud service providers will undergo elimination and consolidation, General Compute co-founder and CEO Finn Puklowski believes that market concerns about a chip-induced industry collapse are severely exaggerated, and customer demand for various chips and compute remains strong.
Hyperbolic Completes $30 Million A-1 Round, Led by Walden Catalyst
AI chip trading marketplace and software startup Hyperbolic announced the completion of a $30 million A-1 round led by Walden Catalyst, with participation from Dell Technologies Capital, General Catalyst, Vista Equity Partners, and Cambium Capital. Hyperbolic has raised a total of $50 million to date.
Predicate Completes $8 Million Series A, Led by Blockchain Capital
On-chain compliance platform Predicate announced the completion of an $8 million Series A round led by Blockchain Capital, with participation from Paxos, 1kx, and Tribe Capital. Predicate primarily provides pre-trade compliance review and risk controls for stablecoins, tokenized assets, and other on-chain financial products, supporting restrictions on high-risk addresses and sanctioned transactions.
Regulatory Developments
CFTC Sues Utah to Block State Restrictions on Prediction Markets
The Commodity Futures Trading Commission (CFTC) filed a lawsuit in the U.S. District Court for the District of Utah seeking to block the state of Utah from taking action against prediction markets. A week earlier, Utah officials sued prediction market platform Kalshi and its affiliates, seeking to recover up to $60 million in profits allegedly obtained illegally through event contracts.
The CFTC said Utah is attempting to circumvent congressional intent and restrict exchanges registered by the agency. The complaint states that the relevant event contracts are swaps under the federal Commodity Exchange Act, and exchanges offering such contracts are subject to CFTC regulation; Utah's actions infringe on federal authority over commodity derivatives markets.
This lawsuit is another dispute between federal and state governments over jurisdiction over prediction markets. New Jersey officials asked the U.S. Supreme Court last September to hear their case against Kalshi, and similar lawsuits have been filed in Michigan, Ohio, and elsewhere; as of Tuesday, the Supreme Court had not announced whether it would accept the case.
Binance Applies for Brazilian Crypto License, to Delist 22 Local Crypto Assets
Crypto exchange Binance has submitted a crypto service provider license application to the Central Bank of Brazil through local entity BBrasil to maintain local operations before the regulatory deadline. The application was submitted on October 23; Brazil required existing crypto service providers to apply for authorization by October 30, and the application does not represent regulatory approval.
Binance announced that starting Tuesday it will adjust services for Brazilian users, restricting crypto lending, margin trading, and other services, and delisting 22 local crypto assets. Thiago Sarandy, general manager of Binance Brazil, said the company hopes to maintain an ongoing dialogue with the Central Bank of Brazil in order to resume some products suspended due to compliance with current regulations in the future.
Coinbase will automatically convert the balances of 14 restricted crypto assets held
