OKX Tokenized Stock Plan Faces Mounting Issuer Opposition
Four more publicly listed issuers — IBM, Oracle, Intel, and IonQ — have formally objected to OKX and ICE Markets' plan to tokenize corporate equities under the SEC's innovation exemption, bringing the total number of opposing issuers to 26. The growing resistance signals deepening corporate concern over the compliance and market-integrity implications of bringing tokenized stock products to Asian crypto trading venues. OKX, one of Asia's largest exchanges, has positioned the initiative as a bridge between traditional equities and digital-asset markets, but issuer pushback could complicate execution.
CZ: Crypto Will Be AI's Native Currency, BNB Chain Aims to Be a Core Network
Binance founder Changpeng Zhao told media after the BNB Standard Nasdaq bell-ringing ceremony that crypto assets will become the native currency for AI agents, with AI systems able to use bitcoin, existing stablecoins, or tokens issued by AI companies. Zhao expressed his hope that BNB Chain becomes one of the principal networks for this activity while acknowledging that significant building remains. He also revealed early discussions around tokens tied to computing power resources, which he wants to bring to BNB Chain, and advised crypto payment startups to target underserved markets and remittance corridors before competing head-on with US payment giants.
BlackRock and SBI Sign MOU to Explore Tokenized Fund and Yen Stablecoin Connection
BlackRock's US and Japan entities have signed a memorandum of understanding with SBI Holdings and Startale Group to explore connecting tokenized money market funds with JPYSC, Japan's first trust-bank-backed yen stablecoin. The parties will assess feasibility across technical infrastructure, business distribution, and regulatory market development, with plans to open the collaboration to Japanese and international financial institutions. SBI launched JPYSC in June with issuance managed by SBI Shinsei Trust Bank and distribution through SBI VC Trade, positioning Japan as a key testing ground for institutional stablecoin and real-world asset integration.
Gate Ventures: Divergent ETF Flows as Infrastructure Dominates Primary Funding
In its latest weekly report, Gate Ventures noted that the crypto market cap contracted 2.2% during the week ending October 26, with bitcoin and ether down 2.4% and 3.4% respectively, while the fear and greed index settled at a neutral 50. Institutional flows diverged sharply: bitcoin spot ETFs recorded $442.7 million in net inflows while ether spot ETFs saw $225 million in outflows. Primary market funding recovered meaningfully during the period, with compliance infrastructure projects taking an overwhelming share of new capital as builders position for evolving regulatory frameworks.
Hong Kong Crypto Payment Firm Redotpay Eyes Confidential US IPO Filing
Hong Kong-based crypto payment card firm Redotpay is considering a confidential US IPO filing before year-end, according to Bloomberg, following months of regulatory discussions. The company is also in talks with investors about a pre-IPO round that could value it at $4–5 billion. Redotpay, founded in 2023, has over 9 million customers and 280 employees, with annualized revenue exceeding $180 million and an operating margin above 50%. The company is working with JPMorgan, Goldman Sachs, Jefferies, and Barclays on a listing that could target a valuation of at least $5 billion.
Animoca Brands Co-Leads $7.7M Round for Meme Coin and AI Agent Platform Bullshot
Bullshot, a platform combining meme coin issuance with AI agent deployment, has closed a $7.7 million funding round co-led by P2 Ventures and Hong Kong-based Animoca Brands, with participation from AWS, B1 Ventures, Becker Ventures, and several Asia-linked funds including 3Gen Digital HK Limited. The raise reflects sustained appetite among Asian-focused allocators for infrastructure tying speculative meme-coin markets to AI-native issuance and automation tooling.
Machi Big Brother's Hyperliquid Account Dwindles to $4,517 After Full Loss on Papertrade
Taiwanese celebrity trader Huang Li-Cheng, widely known as Machi Big Brother, has lost virtually all funds on Papertrade, leaving his Hyperliquid account with just $4,517.70, according to on-chain monitoring. The loss follows a series of aggressive ETH positions that were repeatedly deleveraged during recent market volatility, including a 25x long that was nearly liquidated with only 68 ETH remaining. Huang sold a Mutant Ape NFT an hour before the latest report to raise additional trading capital.
DotSwap V1 Exploited for Roughly 8.5 BTC in Server-Side Signature Attack
The original swap platform DotSwap V1, now transitioning to On Nexus, suffered an exploit on October 25 in which an attacker abused a legacy server-side signing path to drain approximately 8.5 BTC — worth about $685,000 — from V1 liquidity pools and accounts over roughly four hours. The losses fall on liquidity providers who deposited BTC into V1 pools, while user self-custody wallets remain unaffected. The platform has taken V1 offline, is tracking funds with exchange and analytics partners, and plans a full post-mortem.
A-Shares Sink as ChiNext Drops Over 3% and Nearly 4,900 Stocks Decline
China's A-share market closed sharply lower, with the ChiNext index falling more than 3% after briefly trading higher earlier in the session. Combined turnover on the Shanghai and Shenzhen exchanges reached RMB 1.46 trillion, down RMB 147.8 billion from the prior session, while more than 4,900 stocks declined. Consumer and food-and-beverage names led gainers, while pharmaceutical and on-device AI concept stocks fell sharply, underscoring fragile risk appetite in Chinese equity markets amid broader macro uncertainty.
