Finance and Business News page 16

Conduit alleges Tether unlawfully froze its stablecoin holdings and seeks damages for the resulting losses. Conduit has sued Tether, alleging the stablecoin issuer wrongfully froze $2.76 million of the company's USDT holdings. The lawsuit was reported on October 7 by BitKE and crypto.news, both pointing to damages as the core of Conduit's claim.

The new token standard gives issuers compliance tools to restrict, freeze or seize assets on the Cardano blockchain. The Cardano Foundation has launched a new token standard, designated CIP-0113, that hands token issuers unprecedented control over digital assets on the network. Under the standard, issuers can freeze, seize or restrict tokens held by users.

Germany's BaFin has turned down the exchange's application under the EU's Markets in Crypto-Assets framework, leaving trading suspended. Bitcoin.de's trading platform has been halted after Germany's financial regulator rejected its application under the Markets in Crypto-Assets regulation, known as MiCA.

The exchange is reportedly merging its derivatives push with a return of the Coinbase Pro trading interface. Coinbase is reviving its Pro trading brand, according to reports published by The Block and CryptoBriefing. The outlets also reported that the company's integration with derivatives exchange Deribit will result in a unified platform called Coinbase Global Exchange.

Executive Alex Hung says the refreshed hub reflects the exchange's long-running emphasis on safeguarding user funds. BTCC Exchange has rolled out a refreshed version of its Trust Center, a dedicated section intended to communicate the platform's security practices and operational standards to its user base.

The digital asset custodian is expanding into trading and lending services beyond its traditional custody business. BitGo is moving away from custody as its core business model. The company now views prime brokerage, encompassing trading and lending, as its main revenue engine going forward.

Analysts examine whether Bitcoin's sharp recovery marks a durable low or another temporary bounce. Bitcoin has climbed 47% from its recent low point, according to reporting from crypto.news and BeInCrypto. The move has reignited a familiar debate among traders and analysts.

The fintech arm of Ant Group is testing blockchain-based deposit tokens with the banking giant in a Middle East market push. Ant International, the global payments and digital finance arm of Ant Group, is piloting tokenised deposits with HSBC in the United Arab Emirates.

The agency's draft framework targets margin and leveraged digital asset trading while leaving spot crypto markets untouched for now The Commodity Futures Trading Commission has unveiled a proposed rule covering leveraged cryptocurrency trading in the United States. The agency released the framework for public comment, according to reports from BlockchainReporter and UNLOCK Blockchain.

Bitcoin now sits roughly 32% beneath the all-time high it reached a year ago, with ETF redemptions weighing on recovery attempts. Spot Bitcoin exchange-traded funds in the United States shed close to $90 million in a single trading session, based on figures reported by Cointelegraph and CoinTurk News.

The tokenization platform is opening access to private-company shares, starting with artificial intelligence firms that have not yet gone public. Ondo Finance has begun offering tokenized exposure to private companies that have not yet listed on public markets.

The push for delivery-versus-payment aims to settle asset and cash legs together, in seconds, on Solana. The Solana Foundation has unveiled a delivery-versus-payment initiative aimed at atomic settlement on its blockchain. The mechanism ties the transfer of an asset and its corresponding payment into a single, indivisible transaction.

New estimates suggest tens of billions of dollars in stablecoin activity persist inside China despite a years-long prohibition on crypto trading. China banned cryptocurrency trading and mining years ago, framing the move as a defense of financial stability and capital controls.

The crypto custody bank adds USD and SWIFT access for institutional clients as part of a broader international expansion Anchorage Digital has broadened its institutional offering through a tie-up with Standard Chartered, according to reports from Finextra Blockchain and Crypto Economy.

A year after setting an all-time high, bitcoin's drawdown looks modest by the asset's historical standards. Bitcoin is trading about 32% below the all-time high of $126,000 it reached a year ago, according to CoinDesk and CryptoBriefing. That implies a current price near $85,700, based on the reported percentage decline from the record.

Ripple names Turkey a priority digital assets hub, pointing to Garanti BBVA custody work and its RLUSD stablecoin rails Ripple has singled out Turkey as a priority market for its digital assets business, according to reporting from Bitcoin.com News and CoinGape.

The new wallet positions stablecoins as the default asset rather than an afterthought in crypto storage. Changer+ has introduced a self-custodial wallet built with stablecoins as its primary focus. The company says the product is meant to make stablecoins easier to use for everyday transactions and storage.

The U.S. Treasury's financial crimes unit has formally scrapped a 2020 plan requiring reports on crypto sent to private wallets and mixers. The Financial Crimes Enforcement Network, known as FinCEN, has withdrawn a 2020 proposal that would have required financial institutions to report certain cryptocurrency transactions involving private wallets.