News Square
Global Crypto News · Real-time Aggregation
📚 Deep Analysis
More →Zcash co-founder calls to stop funding ‘over $125M’ grants program
Sean Bowe says ZCG has enough money to keep funding projects and wants its share of new ZEC redirected to a reserve for the network. Zcash co-founder Sean Bowe proposed ending the automatic funding stream to Zcash Community Grants (ZCG), saying its treasury was large enough to continue funding projects without further automatic payments. “ZCG has over $125M in funding, and will receive millions more before the spigot is turned off,” Bowe <a href="https://x.com/ebfull/status/2114911107718742451" rel="nofollow noopener" target="_blank">>said</a> Tuesday on X. “The program was never designed to handle this amount of funding.” Bowe shared a draft GitHub <a href="https://github.com/zcash/zips/blob/end-zcg-stream/zips/draft-bowe-end-zcg-stream.md" rel="nofollow noopener" target="_blank">>proposal</a> that would redirect ZCG’s 8% share of the Zcash (ZEC) block subsidy to the network’s sustainability reserve, while leaving its existing funds untouched. The allocation would flow to the Network Sustainability Mechanism until the current funding period ends in 2028. The mechanism is designed to hold ZEC out of circulation and gradually reissue it through future block rewards. In September, Haseeb Qureshi, managing partner at crypto venture capital firm Dragonfly, proposed ending the <a href="https://cointelegraph.com/news/dragonflys-qureshi-end-zcash-dev-fund-2028" target="_blank" rel="nofollow">Zcash developer fund</a> when its current funding period expires, saying that it risks being “politicized” as it approaches $100 million in value. ZCG’s dashboard <a href="https://zcashcommunitygrants.org/" rel="nofollow noopener" target="_blank">>listed</a> 91,453 ZEC and $8.8 million in cash as of Wednesday, with $2.4 million in outstanding grant commitments. The ZEC holdings alone were worth about $111 million at press time. The network’s separate development lockbox <a href="https://zecstats.org/shielded" rel="nofollow noopener" target="_blank">>held</a> 72,351 ZEC, worth roughly $89 million, according to ZecStats. <em><strong>Related: </strong></em><a href="https://cointelegraph.com/news/prediction-markets-17b-robinhood-exceed-crypto-revenue-2028-bernstein" target="_blank" rel="nofollow"><em><strong>HOOD’s prediction markets to add $1.7B to revenue, exceed crypto by 2028: Bernstein</strong></em></a>
Brazil’s Stock Market Crashes After Lula’s Upset Victory
Brazil’s stock market lost more than $200 billion in value at the open on Monday after President Luiz Inácio Lula da Silva beat Senator Flávio Bolsonaro in Sunday’s runoff, a result that prediction markets had priced at roughly a one in five chance. The iShares MSCI Brazil ETF, ticker EWZ, a basket of Brazilian stocks that trades in New York like a single share, fell as much as 26% from Friday’s close of about $42.60, touching $31.40 before trimming the loss to about 23% at $32.84 by 10:38 a.m. ET. That is memecoin-sized volatility for a fund built around Brazil’s biggest companies, and it leaves EWZ roughly where it started 2026 after a 34% gain through Friday. The dollar rose as much as 12% against the real on Friday, while the Ibovespa, Brazil’s benchmark stock index, fell as much as 17% to about 170,000 points. For a dollar-based investor, those moves at their worst combine to a loss of about 26%, in line with the ETF’s low. B3, the São Paulo exchange, halted trading for 30 minutes after the Ibovespa fell 10% from Friday’s close, its first circuit breaker since the COVID-19 pandemic. A circuit breaker is an automatic pause meant to slow panic selling, but the index kept sliding after trading resumed. Investors had been positioning for the opposite result since Bolsonaro unexpectedly finished first in the Oct. 4 first round, with 47.03% of valid votes to Lula’s 45.16%. The Ibovespa jumped 7.85% the next day and EWZ gained more than 10% on bets that Bolsonaro would tighten public finances and open the way to lower interest rates. Monday’s drop erased that rally and, at its lows, left the Ibovespa about 11% below its Oct. 2 close. But Lula didn’t just beat Bolsonaro, he also beat prediction markets. Polymarket gave Bolsonaro an<a href="https://x.com/Polymarket/status/2114003200017575948" target="_blank" rel="nofollow external noopener" class="sc-adb616fe-0 dJryYS">> 82% chance</a> of winning the day before the vote, and Kalshi had him near 80% on Sunday morning. Both platforms are<a href="https://decrypt.co/resources/what-are-decentralized-prediction-markets-myriad-polymarket-kalshi" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow"> prediction markets</a>, where a contract that pays $1 if a candidate wins trades at 80 cents when traders see an 80% chance. Polling pointed to a coin flip rather than a favorite, with the latest Datafolha survey tied at 50% each among valid votes and CNT/MDA showing Bolsonaro ahead 50.5% to 49.5% in mid-October. Lula won 51.79% to 48.21%, a margin of about 4.4 million votes, according to Brazil’s Superior Electoral Court. Bolsonaro said on Sunday night that he does not recognize the result and will ask the courts to annul the election, after pledging in August to respect the outcome. He objected to Supreme Court Justice Cristiano Zanin’s decision to extend voting until 7 p.m. at the request of Lula’s campaign, which he said changed the rules midgame. His own campaign had separately asked for extr
BNB Chain prediction market suspected of being attacked, with approximately $300,000 in anomalous fund outflows.
According to CoinWorld news, onchain lens monitoring indicates that BNB Chain prediction market Predict Fun appears to have suffered an attack, with approximately $300,000 in abnormal funds flowing out of multiple contracts and being transferred through intermediary wallets to the cross-chain service Relay. The funds were subsequently moved across chains and further flowed to the mixing protocol Tornado Cash. onchain lens said it is continuing to track other related addresses to confirm the complete flow of funds.
xStocks on-chain assets under management grew 19.1% to $1.03 billion within 30 days.
CoinWorld data: According to Cointelegraph, xstocks' on-chain assets under management grew 19.1% over the past 30 days, reaching $1.03 billion, despite falling stock prices.
Janus launches the first licensed tokenized Nasdaq 100 index fund.
Janus is launching the first licensed tokenized fund that will track the Nasdaq 100 index. This marks the latest effort to bring traditional assets onto the digital ledgers that underpin cryptocurrencies.
Medium- to long-term large-denomination certificates of deposit are returning in droves, with some bank rates reaching 1.85%.
Bijie News: Medium- and long-term large-denomination certificates of deposit (CDs) are making a密集 comeback, with some bank rates reaching 1.85%. Cailian Press, October 27 — Since October, from joint-stock banks to city commercial banks, rural commercial banks, and even private banks, multiple financial institutions have successively officially announced the issuance of 3-year and 5-year large-denomination CDs, with some institutions even listing products of the same tenor multiple times within a short period. Hengfeng Bank and several of its branches announced on October 20 the launch of 7 personal large-denomination CD products, among which the 5-year product carries an annualized interest rate of 1.75%. China CITIC Bank has since October 1 launched multiple large-denomination CD products including 3-year varieties, with an annualized interest rate of 1.70%; given that the bank had restarted issuance of products of the same tenor on September 1, this listing is regarded as a further replenishment after a one-month interval. Bank of Tibet issued on October 16 a 3-year personal large-denomination CD with an annualized interest rate of 1.85%. (21st Century Business Herald).
Bitget Wallet launches USD/EUR virtual accounts, allowing users to open accounts without US or European identification.
Bitget Wallet has officially launched a virtual account feature, allowing users to open real USD or EUR accounts within the wallet for free without requiring US or EU residency, enabling them to directly receive salaries, freelance income, and cross-border remittances. The feature is supported by licensed banking partner Noah for compliance, is globally available, and can be opened within minutes after completing KYC. It supports mainstream receiving channels such as ACH, Fedwire, SWIFT, and SEPA, with fees significantly lower than traditional remittance services. After users transfer USD or EUR to the virtual account, the incoming funds are automatically and instantly converted into stablecoins, which can be directly used for in-wallet wealth management, crypto card spending, and QR code payments. This move marks the extension of Bitget Wallet's payment ecosystem from the "spending end" to the "receiving end," building a complete monetary account system covering receiving, savings, wealth management, and spending.
Russian President Putin: We need to consider ending the ongoing conflict and lifting sanctions.
CoinWorld news, Russian President Putin: We need to consider ending the ongoing conflict and lifting sanctions.
The Saudi-led coalition said it intercepted and destroyed two ballistic missiles launched by the Houthis toward Riyadh.
Crypto news outlet reports: The Saudi-led coalition said it intercepted and destroyed two ballistic missiles launched by the Houthis toward Riyadh.
Polymarket: Probability of BTC touching $82,500 in October drops to 36%
CoinWorld data: Prediction market shows that the probability of BTC reaching $82,500 in October on Polymarket has dropped to 36%, down 20% over the past 24 hours. This market is settled based on the highest price on the 1-minute candlestick chart of the Binance BTC/USDT trading pair.