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Korean crypto investors are seeing hope again. The chair of the Financial Services Commission softened his stance at a parliamentary hearing today: the crypto tax set to take effect on January 1, 2027, “needs to take various circumstances fully into account.” In other words, a fourth postponement may be on the way.

The tax—20% income tax plus a 2% local surtax, applied to annual gains above 2.5 million won (about $1,700)—has already been postponed three times. Two petitions, each with 50,000 signatures, are on the table: one submitted in May calling for outright abolition, and another in September demanding a further two-year delay. Even the ruling party leader has called for a full review.

At the same hearing, government consultations on the Digital Asset Basic Act entered their final stage, with exchange licensing and rules for issuing won-backed stablecoins close to being finalized. At least they’ve figured out the logic: set the rules first, then tax. #韩国 #CryptoTaxation

One of Ethereum’s largest L2s is preparing to go solo. The Starknet community has just voted overwhelmingly in favor, with 93.52% support, to begin researching a move away from Ethereum and become an independent, quantum-resistant L1. Around 3,200 votes were cast during the seven-day voting period, setting a record for participation in Starknet governance. Even StarkWare itself abstained, keeping out of the vote.

Note that this was only a non-binding vote; if they decide to proceed, another separate vote will be needed. A draft white paper is due in November, with quantum resistance targeted for 2027—Ethereum itself isn’t expected to get there until 2029, and StarkWare’s CEO bluntly said, “We can’t wait.” $STRK will remain the native token; no new token will be issued, and the existing Ethereum bridge will remain operational.

The beginning of an L2 independence movement? Or just a slick bit of quantum hype? #Starknet #Layer2

Thailand’s SEC admitted today that the framework for local spot crypto ETFs is now open, but it has yet to receive a single formal application. The rules were finalized on October 8 and took effect on October 16. They allow only passive, single-asset funds tracking and ; funds must maintain an average net exposure of at least 80% throughout the year. Listings are permitted only on Thailand’s SET, and custody must be handled by an SEC-licensed custodian. Investors must complete risk education before trading, and brokers are prohibited from offering margin leverage. The bar is set high, and although several asset management firms have made inquiries, no one has dared to be first. The SEC says whether these ETFs can launch by the end of 2026 depends on issuers’ readiness and the pace of approvals. Now we’ll see who’s first to take the plunge. #CryptoETF

Yesterday, the U.S. OCC finalized the GENIUS Act’s stablecoin rules, which take effect on January 18, 2027. The core requirements are strict: issuers must maintain 1:1 dollar reserves, offer instant redemption, and meet comprehensive risk management and audit standards. Issuing noncompliant stablecoins will be a criminal offense. But the licensing process hasn’t opened yet: applications won’t be accepted until next year at the earliest, while the Treasury Department will draft the AML and sanctions rules separately. There’s one small window: issuers that submit a substantially complete application before January 18 can apply for a transitional exemption of up to 12 months. The $300 billion stablecoin market finally has a clear regulatory timeline. For players like Circle and Coinbase, the faster they secure a license, the sooner they can benefit from bank-grade settlement. #稳定币 #GENIUS Act

Where does money run when panic hits? The answer is clear: Bitcoin dominance touched around 60% on Wednesday, its highest level since May (TradingView / CoinDesk Daybook data). BTC itself was hammered below $82,000, falling more than 2.7% at one point on Thursday—its biggest one-day drop in two weeks. The trigger: Tesla and Meta earnings reignited concerns about AI capital spending, while South Korean and Japanese stocks and the Hang Seng Index all tumbled. Altcoins fared even worse: the CoinDesk Meme Index fell 5%, and the DeFi Index dropped 5.6%. The only major coin to buck the trend and gain more than 10% over seven days was $ZEC . Meanwhile, US spot $BTC ETF saw another $524.8 million in net inflows on Tuesday (Farside), marking a third straight day of buying. The blunt conclusion: money only feels safe hiding behind the big guy. $ETH #Bitcoin

Switzerland has finally opened the door to regulatory approval: On Tuesday, financial regulator FINMA approved the country’s first spot Bitcoin ETF for retail investors. It invests directly in BTC itself, rather than taking the old ETP route of issuing debt securities. The regulator also granted an exemption from the usual diversification requirements, citing Bitcoin’s long trading history and high trading volumes. But the full rules on custody, operational risks, and disclosures still apply. FINMA declined to name the issuer, saying only that several others are waiting in line. By contrast, Thailand’s ETF framework took effect on October 16, and so far it has received zero applications. It’s clear who’s truly open for business. $BTC #BitcoinETF

The U.S. OCC has finalized the GENIUS Act rules: stablecoins must be backed by 1:1 reserves, and users must receive redemption proceeds within two business days. Issuers remain prohibited from paying interest directly, while exchange rebates will be reviewed on a case-by-case basis. The rules take effect on January 18, 2027. Bessent compared this to the banking reforms of the Lincoln era—a grand claim, but the era of stablecoins going mainstream under regulation has indeed arrived. For unlicensed issuers, the countdown has begun. #稳定币 #U.S.Regulation

Solana’s Alpenglow consensus upgrade is officially live: block finality has gone from 12.8 seconds to a target of 150 milliseconds, and the veteran TowerBFT is retiring with honors. On-chain tests clocked finality at around 202 milliseconds—settlement for exchanges and payment apps is taking off. SOL is still hovering around $105 today, and it fell despite the good news finally landing. At this point, that’s nothing new. Let’s see if it can hold the $100 level before talking about the next chapter. #Solana #BlockchainUpgrade

The White House held a cybercrime roundtable yesterday, where Trump touted the crackdown on overseas crypto scams as an achievement: U.S. law enforcement has frozen about $833 million in crypto assets linked to crimes, the Homeland Security Task Force has shut down 503 scam websites, and authorities have directly warned nearly 9,000 Americans who were being scammed. The scams follow the same old playbook: romance-investment scams, phishing, and ransomware. Scam compounds operate in Myanmar, Cambodia, Laos, and the Philippines. The FBI received more than 1 million reports of online fraud last year, with reported losses hitting a record high; crypto investment scams were the biggest and most damaging category. But let’s keep things in perspective: $833 million is a drop in the bucket compared with the tens of billions of dollars lost to scams. Take down 503 websites, and the scammers will just register dozens more domains. There are only three ways to really protect yourself: don’t click unfamiliar links, don’t trust “high-return investments,” and never send money to any “customer service” rep. #杀猪盘 #AntiFraud

Musk confirms it himself: Tesla and SpaceX really are discussing a merger. On the October 20 SpaceX Q3 earnings call, he said both companies have formed independent special committees of their boards to evaluate the possibility, and that he has been excluded from the discussions due to a conflict of interest. But he also poured cold water on the idea: it would require approval from holders of 50% of all shares, an extremely high bar. “Don’t treat a merger as a done deal.” If it goes through, SpaceX’s 18,712 $BTC and Tesla’s 11,509 $BTC would be combined on the same balance sheet, for a total of 30,221—worth around $2.5 billion at roughly $83,000 each. But don’t rush to trade the hype: the Q3 updates gave only dollar figures (SpaceX: $1.573 billion; Tesla: $962 million), with no new coin counts. The good news is that neither company sold or bought any in Q3—they simply sat on their holdings. #比特币 #Corporate Holdings

XRP has been caught in the crossfire again. At $1.32, down 4% in 24 hours, $1.30 looks ready to give way—and this time, it’s not just the market dragging it down. XRPL itself has stumbled, too.

The fixCleanup3_4_0 amendment was originally set to activate on 10/23, but validator support fell from 35 votes to 26 (it needs 29/35 votes for 14 consecutive days). The countdown restarted, delaying activation until 11/4. CoinDesk says support later recovered to 31 votes, but the two-week cooldown can’t be avoided.

More painful still is the on-chain data: whales’ average monthly inflows to Binance hit $112.4 million, a seven-month high. After a 30% rebound, large holders are quietly selling. The ETF took in just $709,000 on Wednesday—a drop in the bucket.

$1.25 is the next hurdle; if it breaks, watch $1.15. Technicals and fundamentals are both sputtering, so don’t rush to buy the dip.

$XRP #XRPL #XRP

Houthi drones are targeting Saudi Aramco’s Shaybah oil field. Brent spiked to $112.68, a more than five-month high, while WTI touched $99.55. Two people were killed and two injured, but production capacity was unharmed—the market has never feared this punch as much as the next one.

The U.S. has ordered some diplomats’ family members to leave Saudi Arabia. Tankers are still passing through the Strait of Hormuz, and exports are nearing prewar levels. As inflation alarms blare, risk assets are all slumping: BTC fell below $82,000, ETH is hovering around $2,400, the DeFi index plunged 5.6%, the Hang Seng Index fell 3%, and Nasdaq futures dropped 1.32%.

Even $1.1 billion in ETF inflows over three days couldn’t turn things around, suggesting this sell-off is driven by sentiment, not fundamentals. As long as oil prices stay overheated, don’t expect a crypto rebound.

$BTC $ETH #原油 #Macro

Thailand’s SEC has paved the way for spot crypto ETFs, but nobody is getting on board. Several asset managers have only made inquiries, and the number of formal applications is zero. The SEC can’t even guarantee that any will be approved in 2026. The rules aren’t exactly lax: only / is permitted, funds must have at least 80% exposure to a single asset, they can only be listed on the SET, and leverage is outright banned. The door is open, but no one dares walk through it—this scene is itself a true reflection of emerging markets. #ETF #CryptoRegulation

There’s an anonymous on-chain whale who quietly swapped 1,917.7 $BTC (about $159 million) for 64,545 $ETH (about $155 million) over 11 days. Just today, they sold 246.25 BTC and bought 8,286 ETH, with the amounts matching exactly at $20.64 million—a precise one-for-one swap.

The details get even more interesting: 56% of the selling happened in the last 3 days, and the pace is accelerating. They kept buying ETH all the way from $2,270 to $2,500, unfazed by the higher price. Lookonchain has been tracking the wallet for 11 days, but it has no label, so no one knows which institution is behind it.

Swapping BTC for ETH usually points to one of two bets: that ETH will catch up, or that the ETH/BTC exchange rate will reverse. Either way, a $160 million trade says a lot more than bullish talk.#BTC #ETH

Starknet is really leaving Ethereum. The governance vote just ended: 7 days of voting, around 3,200 votes, with 93.52% of the voting power in favor of exploring becoming an independent “post-quantum L1.” This was the highest-participation vote in Starknet governance history, and StarkWare itself abstained.

Note that this was only a non-binding vote—the move to go it alone would require another binding vote. But CEO Eli Ben-Sasson has already announced that a draft white paper will be open for public comment in November.

A project that has spent years as an L2 suddenly wants to become an L1 in its own right. Is this a sign that the Stark ecosystem has lost confidence in Ethereum’s roadmap, or is it taking a position early on the quantum threat? Whatever the motivation, the narrative around $STRK needs to be rewritten. #Starknet #Ethereum

Kraken listed NEXO for spot trading today, and its price barely budged, hovering around $0.82. Its market cap is about $810 million, ranking it 86th—still 80% below its all-time high of $4.07. The listing boost has long since lost its shine: if the market has taught us anything over the past few years, it’s that getting listed doesn’t change the fundamentals. On the same day, Pump.fun deposited 129,800 SOL (about $14.06 million) in fees into Kraken. According to BBX’s on-chain data, Pump.fun has now sold a total of 5.55 million SOL, cashing out about $886 million. The token-launching machine has become an ATM, yet SOL’s price hasn’t collapsed. All you can say is that buyers are more committed than sellers. If NEXO is counting on a listing to lift its price, it should first ask whether the people selling SOL will let it. $NEXO $SOL #Listing

Stablecoin’s money bag is leaking: CryptoQuant data shows USDT’s market cap has evaporated by nearly $1 billion in the past 5 days, sliding from $183.87 billion to $183.06 billion. Even more alarming is the great migration from July to October—USDT balances across 19 exchanges and lending platforms fell by $4.6 billion, while USDC and RLUSD added just $1.9 billion. Bybit saw the most extreme move: USDT fell by $1.66 billion, while RLUSD rose by $315 million. The last two BTC bull runs were fueled by tens of billions of dollars’ worth of new USDT minted each time, giving the bulls fresh ammunition. Now the ammo depot is shrinking. For BTC to hold above $82,000, it doesn’t need more buyers—it needs dollars on board. Watch for Tether to start minting large amounts again—that’ll be the first shot signaling the bulls are back. $USDT #稳定币 #BTC

People talk bull market, but their money is voting otherwise. On Polymarket, the odds of falling below key levels by December 31 are: 31.5% for dropping below 0,000, 13.5% for falling below 0,000, and even 7.5% for plunging to 0,000—with real money on the line. In other words, one in three degens thinks we could see a 7-handle by year-end. Don’t laugh at the market for talking out of both sides of its mouth—September CPI came in scorching, oil is at 10, and the Fed’s October 28 meeting is looming. Prediction markets have never been about slogans; they’re about exposing real fear. Will year-end bring a Santa rally or a total mess? The casino is open. Which side are you betting on? / #Polymarket #PredictionMarket

Glassnode’s Week 42 on-chain report laid it bare: treasury companies’ average cost basis is around 0,200. Since September 18, BTC had closed above that level every day, but the sharp drop on October 15 hit 0,100, putting the cost bases (0K–1.5K) of both major holder groups—treasury companies and U.S. spot ETFs—to the test. The more painful part: since June, treasury companies’ net monthly accumulation has been less than a tenth of the November 2024 peak—talking all-in, while their holdings shrink. Glassnode spelled it out: if the daily close falls below 0K, both groups will be underwater on average. 80,000 isn’t some mystical threshold; it’s the institutions’ last line of defense. If it breaks, the real selling pressure begins. / #比特币 #TreasuryCompanies

ZachXBT took aim at CoinDCX again today: On-chain data shows that one of the exchange’s TRON deposit addresses was still sweeping up customer deposits after being hacked in July 2025—and was still receiving gas to keep it running 10 months later. A huge transfer of 15,819,002 USDT on 10/21 was caught red-handed, totaling about $15.99 million. CEO Sumit Gupta denied it overnight: “Those were old addresses generated in January 2025. They were hacked in July and have nothing to do with current operations. Customer funds are safe.” India’s largest exchange was just hit for $44 million last July, and now the old accounts don’t add up. The standard for settling this is simple: prove it on-chain. Explain where these deposits went and reconcile them with proof of reserves; otherwise, “customer funds are safe” is just talk.#交易所安全 #CoinDCX