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STANDARD CHARTERED-BACKED LIBEARA TO LAUNCH A US TREASURIES FUND FULLY ON-CHAIN - Libeara, a real-world asset (RWA) tokenization platform backed by SC Ventures, the fintech investment and ventures arm of Standard Chartered is planning to launch a US Treasuries fund that will be fully on-chain. - The upcoming Delta Wellington Ultra Short Treasury On-Chain Fund will... - ...be available on The Arbitrum Foundation, Avalanche and Solana Foundation. - The fund has been developed in conjunction with FundBridge Capital’s Delta Master Trust structure. - "This new fund, modelled after the SGD Delta Fund—which became the first tokenized fund to receive a rating of Aa from Moody’s—brings the same level of institutional credibility to USD-denominated investments", said Libeara’s CEO Aaron Gwak, per Cryptonews. - Libeara’s institutional-grade Delta platform will facilitate the subscription, transfer, redemption and... - ...issuance of tokenized units in the Delta Wellington Ultra Short Treasury On-Chain Fund. - The fund, which utilizes DLT technology, will be deployed on the Ethereum mainnet. [Images Generated by BSCN using AI]

FTX FILES A LAWSUIT TO RETRIEVE $50 MILLION IN ASSETS THAT IT CLAIMS HAS NOT BEEN RELEASED BY KUCOIN - The bankrupt cryptocurrency exchange FTX has filed a lawsuit against KuCoin Exchange via its subsidiary, Alameda Research, in order to reclaim $50 million in customer assets. - FTX claims that the funds have been frozen by the cryptocurrency exchange KuCoin since FTX's collapse in Nov 2022. - The lawsuit was filed in the United States Bankruptcy Court for the District of Delaware which... - ...is the same court that is handling FTX’s Chapter 11 bankruptcy case. - The filing claims that KuCoin has not released assets that were originally valued at $28 million but now exceed $50 million due to market price fluctuations. - KuCoin has stated that it will "adhere to the order issued by the law enforcement authority and under no circumstances will misappropriate any user assets”, per Cointelegraph. - However, FTX claims that KuCoin's failure to return the assets constitutes a violation of the U.S Bankruptcy Code. [Images Generated by BSCN using AI]

INSTRUXI DEBUTS 'INSTRUXI MESH ID' SERVICE, DEVELOPED IN CONJUNCTION WITH CHAINLINK AND CLEAR - The decentralized data management platform Instruxi has announced the launch of its new cutting-edge 'Instruxi Mesh ID' service. - Instruxi Mesh ID is an identity verification service that streamlines KYC processes while maintaining data privacy on-chain. - The service was developed in conjunction with the decentralized computing platform Chainlink and the biometric identity platform CLEAR. - Instruxi Mesh ID leverages CLEAR's API to provide pre-approval during KYC for millions of users in the U.S. - "We are thrilled to announce the closed beta release of the Instruxi Mesh ID platform, a collaborative effort with Chainlink, CLEAR and Space and Time. This use of KYC and identity verification with Instruxi Data Mesh is key to our innovative universal policy enforcement capability", said the Co-Founder and Solutions Architect at Instruxi, Austin Przybysz, per an Instruxi press release. - Instruxi Mesh ID also utilizes Space and Time's zero-knowledge (ZK) database for verification. - The Instruxi platform offers features such as tokenized real-world assets and federated queries, while its SQL engine unifies decentralized and traditional data, connecting over 100 sources for streamlined access. [Images Generated by BSCN using AI]

SPACE AND TIME LABS LAUNCHES SXT CHAIN ON MAINNET - Space and Time, backed by Microsoft, launched its much-anticipated SXT Chain on mainnet. - With $20 million in Series A funding, the blockchain aims to provide smart contracts with zero-knowledge (ZK) data. What is SXT Chain? - Built by Space and Time Labs, SXT Chain is a zero-knowledge (ZK)-powered blockchain designed to make data accessible and verifiable for smart contracts. - Developers can access decentralized data sources and ZK-proof verification to drive their apps. Real-Time, Trusted Data Access - SXT Chain allows blockchain developers to access and verify real-time data using Proof of SQL, a system for sub-second, ZK-verified SQL queries. - This reportedly enables the creation of data-driven DeFi apps and eliminates the need to depend on centralized data providers. Revolutionizing DeFi with Dynamic Lending Rates - DeFi apps built on SXT Chain can access verified credit history, enabling customized lending rates. - Traditional protocols could only set static rates. With SXT, lending protocols can leverage credit scoring on-chain to offer dynamic rates that reflect borrower profiles, verified through ZK-proof. Decentralized Data Nodes: - The SXT Chain operates a decentralized network of tamper-proof database nodes. These nodes index, store, and reach consensus on data from multiple blockchains, ensuring reliability and security. Major Integrations with ZKsync, Chainlink, and Microsoft SXT’s partnerships enhance its reach and reliability: - ZKsync: Powers SXT’s ZK rollups, supporting Solidity smart contracts. - Chainlink Functions: Allows seamless ZK-proof delivery to smart contracts. - Microsoft: Microsoft AI Innovation Center boosts SXT’s tech stack, reportedly enhancing the blockchain’s role in decentralized data ecosystems. “Both ZKsync and Chainlink have been pioneers n expanding the capabilities of blockchain technology, and we look forward to continuing to build the next generation of DeFi together with decentralized, ZK-proven database technology,” said SXT CEO, Nate Holiday. - Later in the testnet, SXT Chain plans to open up a program that will allow community members to run indexing nodes for SXT Chain on minimal hardware. [Image Generated by BSCN using AI]

VISA AND COINBASE PARTNER TO OFFER INSTANT DEPOSITS & WITHDRAWALS FOR COINBASE USERS - Visa and Coinbase have teamed up to streamline crypto transactions, allowing instant deposits and withdrawals for eligible Visa debit cardholders in the U.S. and EU. Key Features: - Users with an eligible Visa debit card can now fund their Coinbase accounts instantly and withdraw funds directly to their bank accounts, per reports. - This integration reportedly supports users in taking advantage of trading opportunities around the clock. - Visa debit cardholders can purchase crypto directly on Coinbase without delays, giving users greater flexibility in managing funds. "The integration with Visa Direct gives our eligible customers real-time access to their funds for trading. By enabling them to move money seamlessly and control their finances, we are delivering the trust, security, and flexibility they expect," said Akash Shah, Senior Director, Product Management at Coinbase. - On Oct. 28, Visa announced a similar deal with FV Bank, supporting the fintech firm's crypto- and cash-based debit cards. [Images Generated by BSCN using AI]

FETCH AI AND INJECTIVE INTEGRATION PROPOSAL PASSES WITH 100% SUPPORT - The ASI Alliance proposal for the integration of Fetch.ai and Injective Labs has officially passed, securing a 100% “Yes” vote from all participants. - This integration aims to leverage AI-driven solutions to enhance functionalities across both platforms. Here are the key details: Key Details: - The integration will harness Fetch(.)ai's machine learning and AI within Injective’s DeFi ecosystem. Users can reportedly expect streamlined trading, optimized asset allocation, and improved liquidity management. - Contrary to previous speculations, this partnership keeps Fetch(.)ai and Injective operationally independent while benefiting from integrated functionalities. - Earlier, Fetch(.)ai's community voted to swap the IBC protocol for Injective, enabling seamless cross-chain transfers. - The community also approved a CUDOS network merger, set for October 27, allowing CUDOS to join the Artificial Superintelligence Alliance (FET). - The recent announcement comes a few weeks after Paxos, a regulated financial services company, launched Wrapped $USDL (wUSDL) on Injective. - Additionally, NTT Digital, the largest telecommunications company in Japan, officially joined Injective on Oct.8. [Image Generated by BSCN using AI]

BITCOIN SPOT ETF SEES RECORD INFLOWS AND TRADING VOLUME - Spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded over $870 million in net inflows on Tuesday on Oct. 29. - This marks one of the highest figures since their launch in January. Here’s a breakdown of the inflow data: - BlackRock’s IBIT led the pack with $629 million in inflows. - Fidelity’s FBTC followed closely with $133 million. Bitwise’s BITB brought in $52 million. - Grayscale’s mini Bitcoin trust (BTC) added $29 million. - VanEck’s HODL and Ark’s ARKB recorded $16 million and $12 million, respectively. - Meanwhile, Grayscale’s GBTC was the only ETF to see outflows, totaling $17 million. Record Trading Volume: - Total trading volumes surged past $4.75 billion, the highest level since March, with IBIT alone accounting for $3.3 billion. - This surge in ETF demand coincided with Bitcoin nearing its all-time highs, fueled by heightened trading activity ahead of next week’s U.S. elections. - Traders expect potential volatility regardless of the election outcome, with some targeting an $80,000 price level for Bitcoin in November. - According to Bloomberg ETF analyst Eric Balchunas suggests that this surge might stem from a “FOMO-ing frenzy,” similar to trends seen with the ARK Innovation ETF in 2020. - As the momentum continues, IBIT has maintained an unbroken inflow streak for twelve days, accumulating around $3.20 billion since experiencing a net-zero flow day on October 10. [Images Generated by BSCN using AI]

OKX, TOP, AND FOLIUS VENTURES LAUNCH $10M TELEGRAM GROWTH HUB ON TON BLOCKCHAIN - OKX Ventures , The Open Platform (TOP), and Folius Ventures announced the $10 million Telegram Growth Hub. - The initiative aims to fuel innovation on the ton_blockchain and expand Telegram’s mini-app ecosystem. - The Telegram Growth Hub will run a two-month acceleration program for up to 10 promising projects. - Teams will be eligible for funding from the $10 million fund. The application window remains open until November 29, 2024. Key Focus Areas: - User Onboarding & Education: Projects that make TON more accessible will get priority. Tools focused on improving UI/UX and educational features are essential to help new users understand and engage with TON, according to the announcement. - Trading Networks: This involves building advanced trading features within the TON ecosystem, including decentralized exchanges (DEX), NFT trading, and liquid staking capabilities. - Expanding Mini-Apps on Telegram: New apps for gaming and entertainment will drive more interaction within Telegram, enhancing TON’s utility and reach. Comprehensive Support for Projects: Selected projects will gain access to: - Capital for Growth: Funds will help teams with talent acquisition and community building. - OKX Developer Tools: OKX Connect will streamline wallet integration for developers working on TON. - TOP’s Developer Suite: A rich toolkit, including Tonkeeper and TON Apps API, to help teams build, scale, and engage users. - Mentorship and Networking: Expert guidance, marketing support, and introductions to stakeholders within the OKX, TOP, and Folius networks. [Image Generated by BSCN using AI]

DYDX CEO CUTS 35% OF WORKFORCE AMID STRATEGIC PIVOT IN TURBULENT YEAR - dYdX CEO Antonio Juliano announced a 35% cut in the company’s core team, marking a major shift as the exchange repositions itself within the crypto derivatives market. - Following an earlier resignation, Juliano returned as CEO in October, emphasizing that the “company we’ve built is different from the company dYdX must be.” - While dYdX is one of the top blockchain-based platforms for trading crypto derivatives, rival Hyperliquid surged in 2024, capturing market share and increasing its Total Value Locked (TVL) by 250%. - dYdX’s own TVL has dropped 50% since its peak in March 2024, contrasting sharply with Hyperliquid’s current $860 million TVL, three times dYdX’s value. - Juliano’s restructuring aims to recalibrate dYdX’s strategy to maintain competitiveness and ensure the company’s growth aligns with its future goals. [image generated by BSCN using AI]

DWF LABS FIRES PARTNER AFTER DRINK-SPIKING ALLEGATIONS Eugene Ng has been removed from the team page... - DWF Labs has dismissed founding partner Eugene Ng from his role after allegations of drink spiking surfaced on X (formerly Twitter), removing him from their team page amid a company-wide statement addressing the matter. - An X user named Hana claimed that Ng spiked her drink at a Hong Kong bar on October 24, while she met him to discuss potential career opportunities in web3. She later reported the incident to local police. - Hana provided images of the incident report and alleged drugging, along with CCTV footage from the venue, showing the moments leading up to the alleged incident. - In response to the accusations, Ng initially set his account to private and later deleted it, coinciding with DWF Labs' statement and the unfolding investigation. - The Block has reached out to DWF Labs and Ng for further comment. This is a developing story, and updates are expected as more details emerge. [image generated by BSCN using AI]