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🔥BITCOIN IS MOVING SIDEWAYS, BUT CRYPTO TRADERS REFUSE TO SIT STILL Last week, crypto contract volume on Kalshi and Polymarket hit a record $2.7 billion, driven mainly by short-term Bitcoin price bets. Crypto is now the second-largest category on both platforms, behind only sports. Exchanges like Coinbase are piling into prediction markets as spot volumes fall, though legal challenges to sports contracts in several U.S. states could make them more cautious.

🔥RIPPLE TEAMED UP WITH CRYPTESCROW TO BRING CRYPTO INTO REAL ESTATE CryptEscrow converts the buyer’s crypto into USD and sends it to escrow, so sellers and title companies never have to touch crypto. The platform is licensed by the U.S. Treasury and Florida, and has already closed a $4.2M home with First American Title. Note: the announcement doesn’t specify how XRP or RLUSD will be used.

🚨 US WARNS: IRAN IS RACING TO PLOT ASSASSINATIONS OF AMERICAN OFFICIALS ABROAD According to an Oct. 23 intelligence memo from Director of National Intelligence Jay Clayton to Secretary of State Rubio, Iran has “substantially increased” efforts to target US personnel in the Middle East and other countries, with lethal plots at “advanced stages.” The memo names no targets or details, but the US has cut staff at embassies in Jordan, Lebanon, Qatar and the UAE. This is a US intelligence assessment, not independently verified, and Iran has denied similar allegations before.

🚨 INITIA FROZE ITS ENTIRE L1 AND ROLLUP NETWORK AFTER A SECURITY INCIDENT At 15:41 UTC on October 23, Initia suspended operations to investigate. According to security researcher @spreekaway , an attacker minted tokens without authorization and cashed out roughly $2.6M, with some funds still in transit. D2 Finance points to a flaw in a Move function, saying the hacker minted 2M uncollateralized AUSD and bridged the proceeds to Ethereum. ⚠️ Initia has not yet confirmed the total loss, the technical root cause, or when the network will resume. For now, these figures are researcher reports. 👉 If you use the Initia ecosystem, follow the project’s official X account and avoid unfamiliar links. Hacks are often followed by impersonation scams.

📈ONE “UNDO REPOST” BUTTON WIPED OUT NEARLY $15 MILLION IN MARKET CAP On the morning of Oct 23, trader @kimchi1x posted a poster with a QR code linking to the Project Kimchi token on Pump.fun. Alon, Pump.fun’s co-founder, reposted it. Market cap shot up to around $15M. Then Alon removed his repost. Kimchi deleted the original post and removed “pumpfun” from his bio. Market cap fell over 98% to about $284K, with 24h trading volume around $9.3M. What stands out: just 2 days earlier, Pump.fun had announced a partnership with Kimchi. So far, both sides remain silent. The community is demanding refunds, and there are questions about a possible hack or a QR code that was redirected. None of it is confirmed. Buying just because “a big name shared it” is the fastest way to become someone else’s exit liquidity.

🚨 A CIRCLE SHAREHOLDER JUST SUED PRESIDENT TRUMP J. Benjamin Greenberg, a Circle shareholder, is suing Trump and World Liberty Financial, alleging violations of the Foreign Emoluments Clause through two UAE-linked deals: a $500M purchase of a 49% stake in World Liberty and MGX’s $2B investment in Binance using USD1. He argues these deals helped USD1 compete unfairly with USDC, and seeks disgorgement of profits and damages. Circle says it has no involvement, World Liberty denies the claims, and these remain allegations with no ruling yet.

⚠️ IF YOU HAVE A CAPCOM ID ACCOUNT, DON’T CLICK ANY EMAIL “FROM CAPCOM” IN THE NEXT FEW DAYS Here’s why: Capcom just confirmed that 11,774,247 email addresses worldwide were exposed in a cyberattack on its CAPCOM ID system. Scammers now have a ready-made list to send fake Capcom emails to. - Exposed data: email addresses, IP addresses, account creation dates, login counts. - 196 accounts had their passwords changed by attackers to lock owners out (Capcom has since reset them). - Capcom says passwords weren’t exposed and games are running normally. What to do now: - Go directly to the CAPCOM ID site, never through email links - Change your password, and change it anywhere else you reuse it - Don’t open attachments from unknown emails

🏦 HSBC PUSHED A STABLECOIN INTO THE POCKETS OF 3.3 MILLION PAYME USERS As of Oct 23, RedCoin, HSBC’s HKD-pegged stablecoin, is rolling out on PayMe for P2P transfers and merchant payments, with wallet activation requiring no new account or minimum balance. The token is redeemable 1:1 for HKD, issued under an HKMA license, and will be integrated into the banking app by year-end for tokenized money market fund investing from HK$100. Instead of making users download a crypto wallet, HSBC is putting stablecoins inside the app they already use every day.

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💥MORE THAN 2 MILLION SOL VANISHED FROM THE TREASURY IN LESS THAN A MONTH AND THE COMPANY HAD PROMISED IT WOULDN’T SkyAI (Nasdaq: SKYA) reaffirmed its Solana strategy on Sept 14, then sold all its SOL by Oct 16 to raise $223.8M for a share and warrant buyback at $3 per unit. Shareholder Bastion Trading (about 9.99%) is pushing back, demanding an explanation of the sales and a higher price of at least $3.50. The tender offer is set to expire Oct 29.

🔥SSV LABS PROPOSED MAJOR DEVELOPMENT CUTS, AND THE DAO STILL OWES 1.74 MILLION SSV Proposal DIP-59 (submitted Oct 21) shifts the focus from new products to maintenance, security, and Ethereum upgrade compatibility, with a commitment extended to June 30, 2027, as the DAO faces financial pressure. It’s only a proposal for now, and the DAO will vote on it. Should the DAO approve or reject it?

🚨 CZ WARNED: “BE EXTRA CAREFUL VISITING ANY WEBSITE IN THE NEXT FEW DAYS.” Two critical vulnerabilities (CVSS 9.2) have been exposed in the core of PHP, the foundation of WordPress, Magento, Joomla and more, letting attackers run code on servers without logging in. The patch dropped on Oct 21, but many admins haven’t updated yet, so even a familiar website could be used to steal your login credentials. Over the next few days, update your browser, turn on 2FA, and be cautious about entering passwords or connecting your crypto wallet.