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More →France's €8 million crypto asset exit tax faces new budget hurdle
News from Bijie: France's proposed 8 million euro crypto asset exit tax has encountered a new legislative obstacle, as lawmakers rejected the revenue portion of the 2027 budget, potentially delaying measures targeting wealthy crypto holders and stablecoin transactions. On October 9, the National Assembly's Finance Committee rejected the revised revenue text by a vote of 31 to 3, with 2 abstentions. This decision means that the two amendments will not automatically advance to the plenary session, and lawmakers must reintroduce them when the budget debate begins on October 13. According to amendment i-cf1822, France would expand its existing exit tax framework to individuals holding more than 800,000 euros in crypto assets, applying to taxpayers who were French residents for at least six of the previous ten years before departure. The proposed exit tax would target unrealized gains accumulated while the individual was a French tax resident. The amendment would also cover crypto assets held through domestic or foreign exchanges. The proposal's effective date would be January 1, 2027. A second amendment would affect investors who convert cryptocurrencies into stablecoins without converting their holdings into traditional currency.
Papertrade.xyz attracts $118 million in deposits, supports leverage of up to 1000x
According to news from Bijie, Papertrade.xyz, a synthetic perpetual contract DEX built on Hyperliquid Hyperevm, has attracted $118 million in deposits, with the platform supporting leverage of up to 1000x. As of 0:45 on October 11 (UTC+8), the open positions of 2,349 holdings on Papertrade.xyz were approximately $11 billion, with supported funds of $54 million. The platform does not charge slippage, funding rates, spreads, or traditional notional trading fees, and trades are completed through synthetic swaps between users and a shared protocol liquidity pool. Losing traders can receive Paper tokens, while profitable traders may experience delays in withdrawing profits when funds are insufficient. The project was founded by Jez and Blurr. The project sold 100 sets of custom paper pants at $2,000 each, selling out in about 40 minutes, with sales reaching $200,000.
ETH liquidation pressure: watch $2,435.3 to the downside and $2,817.18 to the upside.
CoinWorld data: ETH is currently priced at approximately $2,504.16. If the price falls by about 2.75% to around $2,435.3, some high-leverage long positions may face concentrated liquidations; if the price rises by about 12.5% to around $2,817.18, some high-leverage short positions may face concentrated liquidations. The liquidation zone below is currently closer to the present price, meaning that if the price moves downward, long liquidation pressure may appear sooner. Other notable zones: $2,366.43 and $2,166.1 below; $2,823.44 and $2,979.95 above. The above levels are estimated based on public market prices and changes in open interest, do not mean the price will necessarily reach them, and are not predictions of price movement. Compared with the same-caliber snapshot 24 hours ago, it is up 0.57%; compared with the same-caliber snapshot 7 days ago, it is down 6.57%.
According to Iran's Tasnim News Agency, the Public Relations Department of the Navy of Iran's Revolutionary Guard Corps stated
According to Iran's Tasnim News Agency: The Public Relations Department of the Iranian Revolutionary Guard Navy stated that a non-compliant very large crude carrier attempting to leave the Strait of Hormuz through an undesignated shipping lane struck a mine and exploded on a route that had already been declared high-risk. The Iranian Revolutionary Guard Navy declared that any non-compliant oil tanker that disregards the safety regulations and relevant rules of the Strait of Hormuz will face the consequences of a fierce fire.
New York Attorney General secures $35 million and lifetime crypto ban from former Celsius CEO
Coin World News: The New York Attorney General announced a settlement with former Celsius CEO Alex Mashinsky, requiring him to pay $35 million and banning him for life from the securities and cryptocurrency industries. Mashinsky was accused of misleading hundreds of thousands of investors, especially 26,000 New York investors, about the platform's safety and using their deposits for high-risk strategies, resulting in significant losses. Attorney General James accused Mashinsky's deceptive conduct of pushing many investors into financial hardship and said action would be taken to hold him accountable. Mashinsky is currently serving a 12-year prison sentence, with more than $48 million forfeited in the criminal case related to this matter. Under the settlement agreement, Mashinsky must pay New York $35 million and comply with the conditions of federal forfeiture and sentence compliance.
The CFTC issues new rules to draw the line between prediction markets and gambling.
Coin World News: The U.S. Commodity Futures Trading Commission (CFTC) released a series of new rules on Friday, formally defining event contracts as "swaps" and explicitly excluding traditional gambling. The first proposed rule would expand the definition of "swaps" to include event contracts related to sports, political, cultural events, and weather. CFTC Chairman Michael Selig stated that these products are "commodity derivatives" and fall within the CFTC's regulatory scope. The second interim final rule explicitly clarifies that casino-style gambling products do not fall under the definition of swaps. Both measures include a 30-day comment period. These new rules are significant in the battle over regulatory authority in prediction markets: if event contracts are deemed swaps, they would be subject to CFTC regulation; otherwise, they could fall under the jurisdiction of state gambling regulators.
The total market capitalization of the crypto market stands at 2.82 trillion US dollars.
According to Bijie data, the total market capitalization of the crypto market is $2.82 trillion, with a 24-hour trading volume of $51.812 billion.
The most recent funding rate for the SOL perpetual contract is 0.003194%.
CoinWorld data: The most recent funding rate for the SOLUSDT perpetual contract is 0.003194%, with longs paying shorts. Compared with the same-caliber snapshot 24 hours ago, it rose by 0.0004 percentage points; compared with the same-caliber snapshot 7 days ago, it rose by 0.0027 percentage points.
Shiba Inu's Shibarium activity grows 151%: What's behind it?
CoinWorld data: Shiba Inu's Layer-2 network Shibarium saw its transaction volume surge 151% over the past 24 hours, jumping from 970 transactions on October 8 to 2,440 on October 9. Although transaction volume fell sharply after reaching as high as 5,710 on October 6, Shibarium's trading activity has gradually risen since the beginning of October. According to ShibariumScan data, 56% of blocks have currently been indexed. Although the inconsistency in trading activity has raised questions about whether this growth marks a sustained recovery in Shibarium usage, the 151% surge has once again brought its trading activity into the spotlight. Currently, the price of Shiba Inu has risen 1.24% over the past 24 hours, now at $0.00000546, with a weekly decline of 4.05%.
The most recent funding rate for the ETH perpetual contract is 0.002609%.
Bjie.com data: The most recent funding rate for the ETHUSDT perpetual contract is 0.002609%, with longs paying shorts. Compared with the same-caliber snapshot 24 hours ago, it rose by 0.0004 percentage points; compared with the same-caliber snapshot 7 days ago, it rose by 0.0004 percentage points.