Payward, Kraken’s parent, plans to become the first CFTC-regulated HIP-3* deployer on Hyperliquid, using the chain as infrastructure for US-client perp futures. Bitnomial (its DCM/DCO) would own and administer markets plus clearing; NinjaTrader (its FCM) would handle accounts—subject to approval. This adds a compliant on-ramp that could boost Hyperliquid’s legitimacy and US volume. Approval risk remains the main hurdle, with permissioned allowlists tempering full decentralization.

Tokenized stocks hit 3.77M onchain holders by late Sep 2026, capturing 82% of all RWA holders as the blue line surged from ~0.5M in July. Total RWA holders exceed 4.5M, while private credit, commodities, real estate, and active strategies remain flat below 0.5M each. Explosive equity tokenization adoption signals retail momentum, but heavy concentration in one category flags limited diversification across the RWA sector.

Canada opened a 60-day consultation Oct 24 on draft rules under the Stablecoin Act (effective ~fall 2027), requiring non-bank issuers to maintain 1:1 fiat reserves at qualified Canadian custodians, redeem at par within three business days (fees ≤1%), and report to the Bank of Canada. Yield payments on holdings remain banned, though transaction-linked rewards may be allowed. No immediate market reaction. Provides regulatory clarity for issuers like USDC/Circle but reinforces conservative stance vs. yield-focused competitors.

Stablecoins hit 300M holder addresses for the first time. EVM chains hold ~94% share; Ethereum ecosystem now 37% (up from 29% two years ago), with L2s driving ~75% of that growth. L2 scaling is working, setting up potential for tokenized assets to follow. Steady eight-year climb to milestone signals sustained adoption without immediate price catalyst.

Strategy repurchased $205M of STRC preferred stock with no Bitcoin activity this period. Holdings steady at 848,517 BTC and $5.1B USD assets as of Oct 25. Follows prior week's $193M STRC buyback + 267 BTC purchase. Takeaway: Capital management tilts toward supporting STRC near par (variable-rate preferred with ~12% dividend) over further BTC accumulation. Neutral-to-supportive for equity structure and reserves; red flag for pure BTC-flywheel expectations if pause extends.

Bitmine (BMNR) now holds 6.05 million ETH—4.95% of total supply—after adding 10,452 ETH last week, with total crypto, cash, and marketable securities reaching $15 billion (ETH valued at ~$2,356). Over 5.2 million ETH is staked via its MAVAN platform, and the firm bought back 2.04 million shares recently while targeting 5% ETH ownership. This reinforces the corporate ETH treasury narrative, backed by ARK and others, but remains exposed to ETH volatility and execution risks in a still-developing bull cycle.

Strive bought 6,182 BTC for $511.4M ($82,732 avg) to reach 43,000 BTC total. Cash and securities rose $187.7M to $554.6M while it set up a $1B SATS ATM program. Fresh treasury accumulation at current levels adds exposure but highlights ongoing capital commitment without clear near-term catalysts.

South Korea is reviewing a fourth delay to its 22% crypto gains tax (above ~2.5M KRW deduction), shifting the Jan 2027 start to 2029 to align with US participation in the OECD CARF data-exchange framework. The presidential office is consulting agencies after industry lobbying and bipartisan bills, citing enforcement gaps and fairness issues for domestic users. Already postponed three times since 2020, the move would ease near-term pressure but highlight ongoing policy unpredictability.

CoinDCX confirmed a $16M (15.99M USDT) loss from deposit wallets retired after its July 2025 $44M hack, after an automated sweep failed and funds accumulated. The exchange is absorbing the hit with no impact to active wallets, cold storage, or trading. CEO Sumit Gupta initially dismissed reports as a “false alarm” days earlier, drawing pushback from on-chain analysts like ZachXBT. Key risk: repeated failures in legacy infrastructure management and delayed transparency.

Initia L1 hacked via infinite mint exploit; attacker has already extracted $2.6M+ (more pending). Fresh Oct 23 report from spreekaway shows fake mint txs on scan .initia .xyz and attacker Etherscan address. Chain TVL ~$5.9M, INIT MCAP $28M. Takeaway: Low-TVL Cosmos rollup L1 hit with classic mint vuln—immediate drain risk high; watch for team patch, bridge halts, or further outflows vs. limited recovery odds.