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More →Standard Chartered-led Anchorpoint says it’s not rushing retail stablecoin
The Standard Chartered and Animoca Brands joint venture previously targeted retail access as early as the end of 2026, but its CEO declined to reaffirm that timeline. Standard Chartered-backed stablecoin venture Anchorpoint says it will take a cautious approach to opening its Hong Kong dollar-backed stablecoin to retail users, declining to confirm a launch date after rival HSBC rolled out RedCoin, <a href="https://www.scmp.com/business/cryptocurrency/article/3372060/standard-chartered-led-anchorpoint-plans-retail-stablecoin-hsbc-redcoin-launches" rel="nofollow noopener" target="_blank">>according</a> to the South China Morning Post. The <a href="https://cointelegraph.com/news/standard-chartered-animoca-brands-hong-kong-stablecoin-license" target="_blank" rel="nofollow">venture</a> released its institutional stablecoin product in August and previously <a href="https://anchorpoint.hk/faqs/" rel="nofollow noopener" target="_blank">>indicated</a> a retail offering could arrive as early as the end of 2026. Anchorpoint CEO Dominic Maffei declined to confirm that timeline at a Friday press conference, saying the company would take a prudent approach. “We believe it’s important to build the market out in a long-term, sustainable manner,” Maffei said, adding that rushing a launch “does not make sense.” The update comes after <a href="https://cointelegraph.com/news/hsbc-launches-redcoin-hong-kong-dollar-stablecoin-payme" target="_blank" rel="nofollow">HSBC launched its Hong Kong dollar-backed RedCoin</a> on Friday for the 3.3 million users of its PayMe app. <a href="https://cointelegraph.com/news/standard-chartered-animoca-brands-hong-kong-stablecoin-license" target="_blank" rel="nofollow">Anchorpoint grew out of a partnership</a> between Standard Chartered, Animoca Brands and telecommunications provider HKT, which was announced in February 2025, following their joint participation in Hong Kong’s stablecoin issuer sandbox in July 2024. Animoca’s role is to bring its blockchain expertise and industry network to the venture and help develop uses for the stablecoin across the Web3 ecosystem. <em><strong>Related: </strong></em><a href="https://cointelegraph.com/news/hashkey-begins-beta-distribution-of-hong-kong-regulated-hkdap-stablecoin" target="_blank" rel="nofollow"><em><strong>HashKey begins beta distribution of Hong Kong-regulated HKDAP stablecoin</strong></em></a>
Interfax: Russia thwarted a Ukrainian drone attack targeting energy facilities.
Interfax: Russia foils Ukrainian drone attack on energy facilities.
Bitcoin falls below $80,000, stablecoin market liquidity declines.
CoinWorld data: 10xResearch reports that Bitcoin's price has fallen below $80,000, but price volatility is only part of the story. Tether's USDT market cap stands at $182.6 billion, down 0.5% from a week ago, with trading volume of $58.8 billion, 5% below average. Circle's USDC market cap fell 1.2% to $71.5 billion, with trading volume dropping to $11.7 billion, 19% below average. The stablecoin minting indicator is at the 2nd percentile, showing a very negative signal. Last week, stablecoin supply decreased by $1.9 billion, and total net redemptions over the past 30 days reached $4.8 billion, indicating that market liquidity is flowing out rather than in.
The armed forces successfully shot down a Saudi Wing Loong-2 armed reconnaissance drone.
Houthi military spokesman Yahya Saree: The armed forces successfully shot down a Saudi "Wing Loong II" armed reconnaissance drone. At the time, the drone was carrying out hostile operations over Taiz Province.
Samsung and SK Hynix will mass-produce and deliver HBM4 to Nvidia in Q2 of next year.
According to ZDNet Korea, Samsung Electronics and SK Hynix have set the mass production and shipment timing for the 8-layer HBM4 supplied to Nvidia at around the second quarter of next year. A person familiar with the matter said Nvidia will equip 8-layer HBM4 simultaneously based on the Rubin Ultra-based NVL rack scale. Although 12-layer HBM4 will remain the main focus this year, starting from mid-next year, the proportion of 8-layer HBM4 will increase significantly.
Samsung and SK Hynix will mass-produce HBM4 in Q2 next year to supply Nvidia.
CoinWorld news, according to ZDNet Korea, Samsung Electronics and SK Hynix have set the mass production and shipment time for the 8-layer HBM4 supplied to Nvidia in the second quarter of next year. A person familiar with the matter said that Nvidia will be equipped with 8-layer HBM4 at the same time based on the Rubin Ultra-based NVL rack scale. Although 12-layer HBM4 will remain the main focus this year, starting from the middle of next year, the proportion of 8-layer HBM4 will increase significantly.
AI trading enthusiasm cools as SK Hynix US leveraged ETF faces delisting and liquidation.
According to Bloomberg, enthusiasm for AI trading has cooled, and two US-listed leveraged ETFs linked to SK Hynix are set to be liquidated just months after their US debut. The two long and short products issued by Tradr ETF track SK Hynix's American Depositary Receipts (ADRs), respectively, offering twice the daily performance or inverse performance. According to the announcement, SKHA (2x long) and SKHN (2x short) will be liquidated around November 12. Since listing, Tradr's 2x long SK Hynix ETF has fallen more than 5%, while the short ETF has plunged 42%.
South Korea once again postpones the implementation of the crypto tax.
According to a report by U.Today cited by Bijie Network, the South Korean government plans to once again postpone the implementation of the controversial crypto tax, which may mean that the country's crypto investors will still not need to pay taxes on digital asset investments for the next two years. According to local media reports, the South Korean presidential office favors delaying the introduction of the tax. The crypto tax proposal, originally scheduled to take effect on January 1, 2027, plans to impose a 22% tax rate on crypto gains exceeding 2.5 million Korean won (about $1,888) in annual profit, including 20% income tax and 2% local tax. However, opposition from lawmakers and the crypto industry is growing, with calls for the government to postpone the implementation of the crypto tax, arguing that the country is not yet ready to enforce it. The main concern is that the government cannot effectively monitor cryptocurrency transactions conducted on foreign exchanges. Forcing the tax without an effective international reporting system would put South Korean crypto exchanges and their users at a disadvantage. The crypto tax was initially approved in South Korea in 2020 and was scheduled to take effect in January 2022, but has since been postponed three times—first from 2022 to 2023, then to 2025, and finally set to take effect in 2027. It now appears likely to be postponed again to 2029.
Pathfinder: Its subsidiary Tongtu Semiconductor has entered into a strategic partnership with a leading company in edge-side large-model inference AI chips.
According to a Weibo post from Toread today, its subsidiary Shanghai Tongtu Semiconductor has signed a strategic cooperation agreement and special contracts for AI FRC and data compression with a leading domestic company focused on edge-side large-model inference AI chips. The two parties will carry out joint research and development on mobile graphics acceleration and edge-side AI technologies, aimed at improving the operating efficiency of high-end smartphone GPUs.
Goldman Sachs: The yen has become a stronger hedge against AI-driven market shocks.
According to Cointelegraph, Goldman Sachs stated that the Japanese yen is becoming a stronger hedge against AI-driven market shocks, as changes in Japanese policy have reduced its vulnerability to rising global yields.