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More →NEAR enters crypto’s top 20 after 140% surge in 30 days
NEAR climbed into the top 20 cryptocurrencies by market capitalization, as NEAR Intents surpassed $31 billion in cumulative transaction volume. NEAR Protocol’s native token entered the top 20 cryptocurrencies by market capitalization on Thursday after rising $138% in the last 30 days, according to <a href="https://x.com/coingecko/status/2108022680628682828" rel="nofollow noopener" target="_blank">>CoinGecko</a>. At the time of writing, NEAR <a href="https://www.coingecko.com/en/coins/near" rel="nofollow noopener" target="_blank">>traded</a> around $5.51, up about 7% over 24 hours, with a market cap of about $7.2 billion and 24-hour trading volume reaching roughly $1.2 billion. NEAR ranks ahead of Stellar (XLM), which has a market cap of nearly $7 billion. NEAR Intents, a cross-chain trading protocol, has <a href="https://explorer.near-intents.org/" rel="nofollow noopener" target="_blank">>handled</a> over $31 billion in cumulative transaction volume, according to the NEAR Intents Explorer. NEAR’s rise in the rankings also <a href="https://cointelegraph.com/news/bitwise-launches-first-us-spot-near-etf-after-tokens-recent-surge" rel="nofollow" target="_blank">follows the Sept. 29 launch</a> of the first US spot exchange-traded product tracking the token. The Bitwise fund trades on NYSE Arca under the ticker NRR, offering investors exposure to NEAR without directly holding the crypto. NEAR Intents <a href="https://cointelegraph.com/news/near-intents-recovers-entire-stolen-38m-after-ultimatum-to-exploiter" rel="nofollow" target="_blank">suffered a $3.8 million exploit</a> involving its deposit and withdrawal infrastructure last week. On Oct. 2, General Manager Alex Shevchenko said that all stolen funds had been returned, a day after the breach was disclosed. <em><strong>Related: </strong></em><a href="https://cointelegraph.com/markets/near-price-surge-intents-zcash-privacy" rel="nofollow" target="_blank"><em><strong>NEAR jumps nearly 80% in a week as Intents volume nears $30B</strong></em></a>
UK tax authority pushes to expand crypto asset information investigation powers
According to Forbes, the UK tax authority HM Revenue & Customs (HMRC) is pushing to expand its powers to investigate crypto asset information, proposing to allow tax authorities to directly obtain client data from crypto asset service providers and to update the inspection rules for software and electronic records. UK crypto tax software company Recap warns that the proposed regulations define service providers too broadly, potentially covering non-custodial wallet software, blockchain explorers, hardware wallet manufacturers, and tax software providers. Because Bitcoin transaction records are public and transparent, once an investor's name, address, and tax identity are linked to on-chain wallet addresses, their long-term asset activity records may be exposed, increasing the risks of data leaks, extortion, and even physical attacks.
Ripple profits from leveraged stock trading, entering a bank-dominated market.
CoinWorld data: XRP-linked Ripple is profiting through leveraged stock trading financing, expanding into a market long dominated by banks. Its prime brokerage division, Ripple Prime, is providing financing for funds that allow investors to amplify the daily fluctuations of individual stocks and market indices. Ripple entered the business through its $1.25 billion acquisition of multi-asset brokerage Hidden Road, a deal that gave it clearing trades, financing investment positions, and established operations for handling stocks, bonds, currencies, and digital asset trading. The U.S. market currently has 593 leveraged ETFs, holding more than $256 billion in assets. Ripple has also expanded its agreement with hedge fund manager Brevan Howard, and Ripple Prime will.
Federal Reserve Bank of St. Louis President Musalem: Capital demand will remain above historical levels for a long time.
According to CoinWorld news, St. Louis Fed President Musalem said that strong capital demand may keep interest rates above past levels for a long time. At present, the scale of capital demand is equivalent to 3% to 4% of GDP and is expected to persist for 5 to 10 years. He pointed out that the U.S. government has been on an unsustainable fiscal path for many years, and the level of government debt may eventually pose a risk. In addition, the Federal Reserve does not focus on matters related to Treasury debt management.
Federal Reserve's Musalem: Strong demand for capital could keep interest rates elevated
According to Bijie News, Federal Reserve's Musalem stated that strong demand for capital could keep interest rates at higher levels than in the past.
Vitalik Buterin: Quantum-resistant lattice cryptography may face an AI mathematics shock.
According to CoinWorld news, Cointelegraph reports that Vitalik Buterin warned that quantum-resistant lattice cryptography could be severely impacted by AI mathematics within two years.
Apple names new head of M&A, the latest personnel change since new CEO Ternus took over.
CoinWorld news: Apple appoints a new head of M&A, the latest personnel change since new CEO Ternus took office.
NVIDIA (NVDA) fell more than 3% intraday.
CoinWorld news: Nvidia (NVDA) fell more than 3% intraday today.
SpaceX holds 18,712 bitcoins, worth approximately $1.55 billion.
According to CoinWorld data: Arkham reports that SpaceX currently holds 18,712 bitcoins on-chain, worth approximately $1.55 billion. These bitcoins are custodied through Coinbase Prime and are labeled as belonging to a bitcoin treasury company. Arkham is the first institution to identify these addresses. Its most recent on-chain operation was an $88 test transaction conducted in July.
Trump has signed an order supporting the development of quantum computing.
CoinWorld news, Trump: An executive order has been signed to support the development of quantum computing, with the goal of delivering a quantum computer for scientific discovery by 2028. The United States is removing unnecessary obstacles to the deployment of next-generation nuclear energy, and has already launched four cutting-edge small modular reactors this year alone.