News linked to both this project and an event.
trade.xyz posted on X platform that the JIO pre-market perpetual contract market is now live.
According to PR Newswire, J.P. Morgan Asset Management announced on October 22 that its tokenized money market funds MONY and JLTXX are now live on the Solana blockchain and available to eligible U.S. investors. Eligible investors can subscribe and redeem through its institutional trading platform, Morgan Money, and receive their token balances at their own blockchain addresses. MONY is a private fund established under Rule 506(c), launched in December 2025. At that time, J.P. Morgan became the first global systemically important bank to launch a tokenized money market fund on a public blockchain. JLTXX is a U.S.-registered government money market fund, with an investment approach designed to support stablecoin issuers under the framework of the GENIUS Act.
Odaily reports: Banking group HSBC has launched the stablecoin RedCoin, which will be available to over 3.3 million PayMe users for payments to 100,000 merchants before the weekend. Maggie Ng, CEO of HSBC Hong Kong and General Manager of Retail Banking and Wealth Management, stated that funds, assets, and information are shifting from traditional infrastructure to always-on, data-rich, and increasingly programmable digital networks.Li Guankang, Head of Retail Banking Products at HSBC and CEO of PayMe, stated that RedCoin will match the existing PayMe wallet in terms of transaction speed and other aspects, while offering additional benefits for merchant payments. To celebrate the launch of RedCoin, users can receive transaction coupons and "reward money" and other rewards.John O'Neill, Managing Director of Digital Assets and Currencies at HSBC, stated that within the year, a stablecoin wallet function will be added to the HSBC Hong Kong mobile banking app, and users will be able to subscribe to tokenized investment products using RedCoin, including the HSBC Hong Kong Dollar Money Market Fund, with a minimum subscription amount of HKD 100.Over the past months, HSBC has worked with regulators and potential users to advance the launch of RedCoin, with nearly 100 employees participating in the pilot, testing the complete process from minting to wallet activation to actual transfers. HSBC will subsequently expand use cases for corporate and institutional clients and launch more products. (HK01 NFT)
QCP released a macro market analysis stating that negotiations at the Strait of Hormuz have stalled, with attacks between Saudi Arabia and Houthi forces expanding the scope of the conflict. Although Automatic Identification System (AIS) data shows that physical shipments near the strait have nearly halted, shadow fleet estimates indicate that daily oil transit through the strait remains between 3.7 million and 13 million barrels. The U.S. Strategic Petroleum Reserve (SPR) has dropped to 283 million barrels, representing a year-over-year decline of 30.5%.
Bonk Guy posted on X stating that Bitcoin has risen about 3% since yesterday, while ZEC, which focuses on privacy features, has surged 16% over the same period, adding over $3 billion in market capitalization, as the privacy sector becomes a market focal point. He noted that MASK currently has a market capitalization of only about $26 million, yet it is the highest-revenue privacy coin protocol, with protocol trading volume and fees continuing to hit all-time highs, and its Solana version expected to launch within days, which is poised to further boost usage, trading volume, and fee revenue. According to DeFiLlama data, MASK's revenue exceeds the combined revenue of the next 10 privacy protocols. Bonk Guy believes that MASK combines a real product, genuine user demand, growing adoption, and potential catalysts, and remains severely undervalued by the market.
Binance Wallet has announced the listing of the pre-market perpetual contract trading pair PREDICTUSDT for the prediction market platform Predict.fun (PREDICT), supporting up to 5x leverage. Eligible users can, after enabling Multi-Assets Mode, use tokenized stocks bStocks in Binance Wallet as collateral, with the relevant assets counted toward collateral value at up to 90% of their market value, enabling users to hold tokenized stocks while trading perpetual contracts.
Binance Wallet has announced the launch of the PREDICT/USDT pre-market perpetual contract, supporting up to 5x leverage. Additionally, eligible users who enable multi-asset mode can use their held tokenized stocks (bStocks) as collateral, with up to 90% of their market value counted toward margin.
According to CoinDesk, Ripple’s brokerage Ripple Prime (formerly Hidden Road) has enabled institutional clients to trade swap contracts linked to over 100 stocks, commodities, and money markets around the clock, with the option to use its US dollar-backed stablecoin RLUSD as collateral. These swap contracts track the perpetual contracts listed on the Trade.xyz platform on Hyperliquid, are currently provided under Ripple Prime’s British Virgin Islands license, with plans to expand into additional jurisdictions in the future, while trading firm Virtu has already joined as an early client. In a client report, Daragh Maher, Head of Digital Assets Research at HSBC, characterized the offering as a “gradual rather than revolutionary” upgrade, noting that its current market size remains modest compared to traditional finance, with initial activity likely concentrated among market makers, proprietary trading firms, and hedge funds executing basis trades.
Odaily report: Variational founder and CEO Lucas Schuermann participated in an X Space event hosted by The Rollup founder Andy last night, during which Lucas disclosed some details about Variational Pro. The community's key takeaways are as follows:1. Variational Pro will focus on the institutional OTC derivatives market, covering options, interest rates, foreign exchange (FX), and structured products. OTC derivatives are one of the largest financial markets globally, with outstanding notional value of approximately $850 trillion, while Bitcoin derivatives open interest stands at around $100 billion. Although the two use different statistical methodologies, this is enough to give you an intuitive sense of the scale gap.2. Variational Pro's business scale will ultimately surpass Variational Omni. Traditional OTC derivatives trading methods remain outdated (requiring calls to bank trading desks for quotes, manual price negotiation, back-and-forth contract exchanges, managing collateral and counterparty risk, and manual execution of clearing and settlement processes). Variational Pro aims to automate this process through multi-dealer request-for-quote (RFQ), smart contracts, and stablecoin settlement.3. Some of Variational Pro's trading instruments (including options) may eventually be opened to retail users on Variational Omni. Currently, Variational has partnered with several mainstream institutional partners, and large clients are expected to onboard Variational Pro soon.
Odaily reports: Solana-based meme coin Kimchi reached a market cap of $40 million one hour after launch, currently at $38.71 million, with trading volume reaching $23.7 million. Kimchi (@kimchi1x) currently holds 75.32% of the total supply of this meme coin. This trader rarely posts trading records or calls, mainly sharing photos and videos related to lifestyle, travel, luxury cars, and watches.Pump.fun co-founder alon stated that Kimchi is the first person to truly bridge the gap between the crypto industry and popular culture, and the first case of a trader growing into a public celebrity. alon said that Kimchi is helping Pump.fun develop creative direction and drive ecosystem expansion.
ARK Invest has released an update to its open-source Tesla valuation model, projecting that Tesla will be worth approximately $4,400 per share by 2031. A Monte Carlo simulation based on 32 independent variables shows a bear case of around $3,300 per share and a bull case of around $5,000 per share, corresponding to annualized share price gains of 53% and 66%, respectively, with the base case implying an annualized return of approximately 62%.Under the base case, ARK Invest expects Tesla's total revenue to reach approximately $1.45 trillion by 2031, with EBITDA of about $902 billion and a market capitalization of approximately $17.5 trillion.To support the development of its AI and robotics businesses, the model also assumes that Tesla's cumulative AI infrastructure spending will increase from approximately $7 billion at the end of 2025 to approximately $225 billion by the end of 2031. Robotaxi is expected to become Tesla's primary source of value, contributing approximately 80% of enterprise value by 2031. The humanoid robot Optimus will also become an important growth engine, with Tesla's cumulative external sales of Optimus robots reaching approximately 1 million units by 2031, and revenue from robotics-as-a-service (RaaS) and related businesses amounting to approximately $212 billion.However, ARK Invest cautions that these valuations depend on multiple assumptions, including the pace of autonomous driving commercialization, the maturity of robotics technology, profit margins, and capital efficiency. Actual results may differ significantly from these projections. The model is for reference only and does not constitute investment advice.
Wintermute's latest market report indicates that, driven by a higher-than-expected U.S. Consumer Price Index (CPI) and a correction in the AI sector, the Nasdaq index fell 5.52% for the week, while Bitcoin dropped 1.99%, regaining and holding the key $82,500 support level after briefly breaking below it. Altcoins declined 5.69% overall, with capital rotating from high-beta and micro-cap tokens back into mainstream assets such as Bitcoin and Ethereum. Major assets currently offer a more attractive risk-reward ratio.
Ondo Perps has now listed the OpenAI Private Market Note, with the ticker OPAIPon. The note provides tokenized economic exposure linked to OpenAI and is now open for 7×24 trading on Ondo Perps' permissionless spot order book, with the trading pair OPAIPon/USDC. OPAIPon is part of Ondo Private Markets, which offers qualified investors tokenized economic exposure to leading private companies, allowing users to participate in trading without waiting for the company to go public and to self-custody the tokens in their personal wallets.
Odaily reports: Crypto analyst Darkfost published a post on X outlining the evolution of JPMorgan CEO Jamie Dimon's attitude toward Bitcoin in recent years.In 2017, Dimon called Bitcoin a "fraud"; in 2018, he expressed regret over those remarks and acknowledged the value of blockchain technology; from 2019 to 2020, he said Bitcoin "doesn't appeal to him"; in 2021, he called it "worthless"; in 2023, he said that if he had the power, he would ban Bitcoin and other cryptocurrencies; and in 2024, he likened Bitcoin to "pet rocks" and a Ponzi scheme.In 2025, Dimon still criticized Bitcoin for lacking value and being used for money laundering, but later stated that everyone has the right to buy Bitcoin. Now, JPMorgan in its 2027 outlook has listed Bitcoin as the asset with the best long-term return performance.Previously reported, JPMorgan Asset Management released its "2027 Long-Term Capital Market Assumptions" report on October 19, including Bitcoin in its long-term return projections for the first time and forecasting a compound annual growth rate of 10% over the next 10 to 15 years, higher than the 7.5% for U.S. large-cap stocks, 5.5% for gold, and 8.2% for U.S. real estate investment trusts (REITs).
Bitwise Chief Investment Officer Matt Hougan (@Matt_Hougan) shared a chart on X featuring J.P. Morgan Asset Management’s 2027 Long-Term Capital Market Assumptions (31st edition), which has now included Bitcoin in its asset class forecasts. According to the report, Bitcoin’s expected compounded return is 10.0%, its arithmetic mean return is 20.9%, and its annualized volatility is 55.0%. Comparative data for other assets are as follows: • US large-cap stocks: compounded return 7.5%, volatility 18.0% • US small-cap stocks: compounded return 7.7%, volatility 21.0% • Gold: compounded return 5.5%, volatility 17.2% • US aggregate bonds: compounded return 5.6%, volatility 4.7% • US cash: compounded return 3.2%, volatility 0.7% • US real estate investment trusts (REITs): compounded return 8.2%, volatility 17.3% Based on arithmetic mean returns, Bitcoin (20.9%) ranks highest among the assets listed in the report, followed by US small-cap stocks (9.66%) and US REITs (9.55%). By compounded return, Bitcoin (10.0%) also tops all other assets in the table.
Odaily reports: Papertrade founder Jez posted on X in response to the controversy over the non-transferability of the PAPER token, stating that the team was aware of certain unresolved technical issues before the protocol launched, including potential attack risks posed by the perpetual contract market, but had originally expected more time to find solutions.Jez noted that the team had previously estimated that a large perpetual contract market might take about 6 months to launch, but the relevant market progressed much faster than expected, forcing the team to make a decision before finding an effective solution. To safeguard the protocol's long-term healthy development, PAPER has currently been set to a non-transferable status.He emphasized that PAPER represents users' rights to the protocol's revenue, and its long-term value depends on whether Papertrade itself can continue to attract traders, rather than whether the token can be freely traded. The team is unwilling to restrict the protocol's business growth in order to support PAPER perpetual contract trading.In response to community concerns that the rule change harms the interests of early users, Jez stated that the adjustment was not a hasty decision but a risk management choice made by the team based on actual operating data from the first week since the protocol launched, and that the team will continue to adjust protocol parameters in the future to ensure long-term sustainability.
Odaily reports: Digital asset trading platform KuCoin has announced the launch of KuCoin 5.0, deploying AI Assistant 5.x and an internal AI system called KIA. The system serves over 45 million users globally and can pause AI analysis, recommendations, and task execution that rely on unreliable data during extreme market conditions or large-scale liquidations.Logan Xie, Head of KuCoin AI Lab, stated that KIA classifies inputs by source credibility and implements source verification, context isolation and sanitization, and context lifecycle management. AI decision support and backend execution logic are isolated from each other, with the trading system responsible for authorization, verification, and execution to prevent unauthorized operations.KuCoin 5.0 also introduces a unified trading account for VIP1 and above users, using KCUSD as collateral and integrating spot, margin, and futures trading; it also supports sub-accounts directly using Earn without manual transfers, and upgrades the personal center, sub-account controls, cross-device K-line charts, and color vision accessibility mode. (Bitcoin.com News)
10x Research's latest crypto market weekly report notes that the crypto market broadly suffered a sell-off last week, with altcoins declining significantly more than Bitcoin. The 141 tokens it tracks fell 14% on average, while Bitcoin dropped only 3% over the same period.10x Research states that trading volume in the crypto market is currently declining, stablecoin supply continues to contract, and ETF fund flows have turned to net outflows, reflecting mounting pressure on market liquidity.However, options market pricing indicates that pressure remains relatively low, while speculative positions in the CME futures market are near highs, suggesting that the derivatives market has not yet fully reflected the weak performance of the spot market.10x Research believes that investors should focus this week on key Bitcoin technical levels, Ethereum position allocation, as well as capital flows and position changes in the altcoin market.
Odaily reports: Goldman Sachs CEO David Solomon said during the October 13 earnings call that tokenization is becoming an important trend spanning multiple asset classes and could bring more products, clients, and business. The bank has already tokenized bonds, money market funds, and real estate for some clients.DeFi, prediction markets, and automated trading are also under discussion, but Goldman Sachs has not announced related specific products. Solomon said blockchain-related activity remains relatively small in scale at present.Goldman Sachs uses its proprietary GS DAP platform to provide blockchain-based financial asset infrastructure and participated in the tokenization service launched by the Depository Trust & Clearing Corporation (DTCC) in July, and is evaluating scalable applications. Solomon said tokenization can reduce costs, automate processes, and improve liquidity across asset classes.Solomon said Goldman Sachs supports the passage of the CLARITY Act, despite reservations about some provisions, and is participating in discussions with regulators on market rules. The bank reported third-quarter net revenue of $18.68 billion, with equities business revenue up 72% year-over-year to $6.4 billion. (Bitcoin.com News)
Odaily reports: Polygon Labs has announced the completion of its acquisition of Coinme, a US-regulated crypto payment service provider, with plans to leverage stablecoin infrastructure to enter the payments market dominated by Visa and Stripe. Polygon Labs CEO Marc Boiron stated that the acquisition will help Polygon Labs own customer relationships and capture revenue that previously flowed to intermediaries; Polygon Labs has now become a payments-focused company that uses blockchain to move money. In January, Polygon Labs launched Open Money Stack to support stablecoin payments and cross-border transfers, and to charge fees for currency exchange and money transfers. Marc Boiron said the regulated payments business is expected to become profitable by 2027. Data shows that Visa's payment volume exceeded $12.3 trillion in fiscal year 2025, while Stripe's payment volume reached $1.9 trillion. Through the acquisition of Coinme, Polygon Labs will control more business processes in areas such as crypto asset, stablecoin, and fiat currency conversion, rather than handing customers over to third parties. Polygon Labs' unified payments platform is currently still in technical preview and not yet fully open; early users include Tazapay, Mesh, Toku, and Kira.