coinfory

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Samsung’s AI Memory Boom Faces Slower Price Growth and Investor Expectations

Samsung Electronics is preparing to release preliminary third-quarter earnings guidance, with analysts expecting operating profit of about 106.1 trillion won, or roughly $79.1 billion. That would represent a fourth consecutive record quarter and a sharp increase from the 12.17 trillion won reported a year earlier. However, consensus expectations have fallen 7.7% since late August as memory-price growth moderated and the South Korean won strengthened significantly against the US dollar, reducing the value of overseas earnings when converted into won.

Investors will focus on whether Samsung’s memory operating margin remains near the estimated 76% level recorded in the second quarter. Industry researchers also expect conventional DRAM contract prices to rise 10% to 15% in the fourth quarter, a substantial slowdown from the approximately 60% increase in the previous quarter. Long-term supply contracts with price ceilings are contributing to that moderation.

Samsung is also attempting to regain ground in high-bandwidth memory, a critical component for AI data centers. SK Hynix remains the market leader, but JPMorgan estimates Samsung’s HBM share could rise from 20% last year to 34% in 2026, while SK Hynix’s share declines from 60% to 46%. The company’s earnings announcement and subsequent investor reaction will indicate whether strong AI-related demand is already reflected in its share price.
#institutional #ai #markets #technology

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Firelight Adds Programmatic DeFi Protection to Sentora Vaults

Firelight has launched an onchain protection system for DeFi vaults, initially covering Sentora’s USD Protected Vault and Protected RWA Vaults. The protocol is designed to move risk management from individual depositors into the vault infrastructure, allowing users to access predefined coverage without arranging separate protection themselves.

Firelight says its model separates claims validation from the capital supporting payouts. Five independent firms—Hypernative, Native, Credora, GFX Labs and Cyfrin—form its Risk Consortium and assess incidents against criteria published before coverage begins. Covered events may include smart-contract exploits, oracle manipulation, governance attacks, bad debt, mechanism-related depegs and redemption failures, subject to stated limits.

Coverage terms, including scope, price and capacity, are recorded onchain. ZeroShadow is responsible for publishing exploit reports, after which the consortium verifies whether an eligible event and loss occurred. Protection capital is supplied through participants staking to the protocol, with stakers receiving emissions partly funded by fees paid by vault operators.

Veda and Upshift are integrating Firelight at the infrastructure level, potentially allowing other vault managers to enable similar coverage. Sentora says it oversees more than $2.8 billion across over 300 strategies. Firelight reports audits by OpenZeppelin and a public bug bounty managed through Immunefi. The launch addresses a meaningful but still developing need as DeFi vault adoption expands, though its practical value will depend on coverage capacity, exclusions and performance during real incidents.
#defi #security #institutional #technology

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Bitcoin ETFs attract $119 million as Ether products post six-day outflow streak

U.S. spot Bitcoin exchange-traded funds recorded approximately $119 million in net inflows on Tuesday, reversing recent outflows even as Bitcoin’s market price declined. The renewed demand indicates that some investors continued adding exposure through regulated exchange-traded products during a weaker trading session. The inflow was not mirrored by Ether investment products. Ether funds registered net withdrawals for a sixth consecutive session, bringing cumulative outflows during the streak to about $408 million. The divergence suggests a clear preference for Bitcoin exposure over Ether among investors using these fund vehicles in the period covered. ETF flows are closely monitored because they provide an indication of institutional and professional investor demand, although a single day’s data does not establish a lasting trend. The report does not provide details on the individual funds responsible for the Bitcoin inflows, the size of trading volumes, or the factors driving the continued Ether redemptions. It also does not quantify the associated price moves beyond noting that Bitcoin fell and Ether extended its losses. Overall, the figures show contrasting short-term flows: renewed buying interest in Bitcoin ETFs alongside sustained withdrawals from Ether funds.
#bitcoin #etf #ethereum #institutional

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Russia Registers First Licensed Crypto Exchanges and Custodians Under New Framework

Russia has formally registered its first cryptocurrency exchanges and custodial service providers under a newly established legal framework, marking a significant step toward institutionalizing digital-asset activity in the country. The initial group includes Sberbank, Russia’s largest bank, which intends to introduce cryptocurrency-related products on December 1. The registrations indicate that approved financial institutions may now be able to offer regulated services involving crypto assets, although the specific products, eligible customers and operating limits were not detailed. The move could give Russian investors access to more formal trading and custody channels while providing authorities with greater oversight of a market that has historically operated with limited regulatory clarity. Sberbank’s participation is particularly notable because of its size and state-linked status, potentially signaling official support for controlled institutional involvement rather than a broad liberalization of crypto use. The announcement does not provide information on the assets that will be supported, whether products will be available to retail users, or how the new exchanges will interact with Russia’s restrictions on crypto payments. Further rules and implementation details will determine the practical impact of the registrations on domestic adoption, liquidity and access to international digital-asset markets.
#regulation #institutional #compliance #adoption

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DOJ Cites Bitcoin Fog Appeal in Venue Dispute Over Tornado Cash Trial

U.S. prosecutors are relying on a recent appellate decision involving Bitcoin Fog to challenge Roman Storm’s effort to secure an acquittal in the Tornado Cash case. The government argues that activity connected to Tornado Cash in Manhattan was sufficient to establish New York as the proper venue for certain charges against Storm. The Bitcoin Fog ruling is being presented as support for the broader proposition that conduct involving a cryptocurrency mixer can be tied to a jurisdiction even when the defendant’s actions and the service’s users are distributed across multiple locations. Storm, a co-founder of Tornado Cash, faces charges related to operating the privacy-focused protocol and allegedly facilitating money laundering. His defense has disputed the prosecution’s legal theories, including whether the alleged conduct occurred within the court’s jurisdiction and whether Storm can be held criminally responsible for activity carried out by users of the software. The venue argument does not itself resolve Storm’s guilt or determine whether the charges will stand, but it could affect the scope of the proceedings and the viability of his post-trial arguments. The case remains closely watched because it may influence how U.S. authorities pursue developers and operators of decentralized or privacy-oriented crypto infrastructure.
#regulation #security #privacy #compliance

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Cardano Activates CIP-0113 for Compliance-Controlled Tokenized Assets

Cardano has activated CIP-0113 on its mainnet, introducing a token standard designed for regulated stablecoins, funds, bonds and other institutional assets. The framework allows issuers to embed compliance requirements into native Cardano tokens, including identity verification, sanctions screening, recipient eligibility checks, freezing and, where permitted, seizure or issuer-directed transfers.

Rules are checked before transfers are accepted and remain attached to the asset as it moves between wallets or services. Issuers can use existing rule sets or develop and update their own policies as regulatory requirements change. The upgrade followed independent security audits and does not require a hard fork. Supporting tools reportedly include Eternl, GeroWallet, CardanoScan and BloxBean.

The launch gives Cardano infrastructure for permissioned tokenization, but it does not itself demonstrate that major institutions will issue or adopt assets on the network. Similar compliance-oriented controls already exist on competing platforms, including Ethereum’s ERC-3643 ecosystem, Solana token extensions and issuer restrictions on the XRP Ledger.

CIP-0113 also creates a trade-off for holders. Issuer powers to freeze, seize or force transfers can reduce self-custody and liquidity, and lending platforms may need to assess those controls before accepting such tokens as collateral. Its practical importance will depend on adoption, regulatory acceptance and issuer demand.
#institutional #tokenization #technology #cardano

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Kalshi’s Short-Term Gold Contracts Surpass Ether Trading Activity

Kalshi’s newly launched 15-minute gold prediction markets reportedly exceeded Ether-related markets in activity during September. Gold contracts reached approximately 542 million for the month, compared with 318 million contracts linked to Ether. The gold markets also generated an estimated $5 million in fees, while Ether markets produced about $2.6 million. Bitcoin remained substantially ahead of both assets, indicating that the new gold product has gained traction but has not displaced the platform’s leading crypto market. The figures highlight growing interest in very short-duration event or price-linked contracts tied to traditional commodities, even as crypto remains a central part of Kalshi’s offering. The comparison is based on contract counts and estimated fees rather than disclosed trading volume, open interest, or profitability, so it does not necessarily show that gold attracted more capital than Ether. Still, the rapid performance of the markets only weeks after launch suggests demand for short-term exposure to gold price movements and potentially broader diversification among prediction-market users. The development may also be relevant to crypto traders because it shows competition for speculative trading activity from non-crypto products on venues that offer highly time-sensitive contracts.
#derivatives #markets #predictionmarkets #crypto

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Bitcoin’s Sharp Drop Triggers $400 Million Long Liquidation Wave

A rapid Bitcoin decline to roughly $83,800 triggered more than $400 million in leveraged long liquidations within an hour, according to CoinGlass data. Long positions represented about 97% of approximately $415 million in total liquidations during the period, indicating a heavily one-sided market reaction. The liquidation burst accounted for most of the four-hour total and around 83% of the day’s long liquidations. Across 24 hours, total liquidations reached about $555 million, with long positions responsible for roughly $487 million.

Ethereum longs suffered the largest asset-specific losses at approximately $155 million, while Bitcoin long liquidations totaled nearly $116 million. The difference may reflect stronger declines in ETH or more aggressive leverage in its derivatives markets. CoinGlass also reported open interest of about $150 billion, down 2.45%. Since that figure is measured in dollars, part of the decline may have resulted from falling asset prices rather than wholesale position closures.

The event has produced conflicting interpretations. Some market observers view the concentrated liquidation wave as evidence that excessive leverage amplified the selloff, while others consider it a routine reset. Because open interest remains substantial, additional forced selling is still possible. Accumulation by wallets holding 100 to 1,000 BTC could provide support, but unleveraged spot demand will likely determine whether prices stabilize or another liquidation wave develops.
#bitcoin #derivatives #markets #liquidity

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Crypto Policy Group Sees Regulatory Momentum Despite Senate’s Clarity Act Defeat

Kristin Smith, president of the Solana Policy Institute and interim chief executive of the Blockchain Association, says the crypto industry is making regulatory progress in Washington despite the Senate’s failure to advance the Clarity Act. The proposed legislation would have established a federal framework for digital-asset markets, but Smith argues that agency-level action could still create lasting policy changes. She points to the stablecoin legislation known as the Genius Act and revisions to an IRS broker rule as examples of recent industry gains. The CFTC has also begun seeking public input on rules for leveraged retail crypto trading, while the SEC and CFTC are pursuing additional digital-asset rulemaking. Smith estimates these processes could take 18 to 24 months. She believes rules completed before roughly summer 2028 may become difficult for Congress to overturn under the Congressional Review Act, particularly if financial institutions and international companies begin building businesses around them. Smith considers renewed passage of a broader market-structure bill before or shortly after the 2026 midterm elections unlikely, citing unresolved concerns involving the president’s family crypto interests and limited support from banks. Bitwise CIO Matt Hougan offered a more cautious view, noting that agency rules could be reversed after a change in administration in 2029.
#regulation #institutional #compliance #adoption

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German Regulator Rejects MiCA Bid, Keeping https://t.co/zfnMu9Iy3G Trading Suspended

https://t.co/zfnMu9Iy3G, a German cryptocurrency trading platform, remains largely unavailable after its application for authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework was rejected by the country’s financial regulator. Trading has reportedly been suspended since June while the platform awaited a regulatory decision. The rejection prevents the operator from resuming normal services under its current setup and highlights the practical impact of MiCA licensing requirements on established crypto businesses in Europe. https://t.co/zfnMu9Iy3G is now seeking partnerships with already regulated firms that could help it restart trading in compliance with the new rules. The report does not indicate that customer funds were lost or that the platform suffered a security breach; the immediate issue is regulatory authorization and service availability. The situation may create delays and disruption for https://t.co/zfnMu9Iy3G users, while also underscoring how exchanges and other crypto-asset service providers must adapt their operating structures to meet EU-wide standards. The eventual outcome will depend on whether the company can secure an approved partner or otherwise address the regulator’s concerns and obtain permission to operate. The case is relevant to European crypto firms navigating MiCA implementation, although its direct effect on broader market prices is likely limited.
#regulation #exchange #europe #compliance

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Crypto card transaction volume reaches $12.5B amid stablecoin payment growth

Crypto card payment volume has reached a reported record of $12.5 billion, according to data from https://t.co/YQILadgdiJ cited by The Kobeissi Letter. The figure represents a 140% increase since the start of the year and is 247% above the level recorded in October 2025. The reported growth is linked to increasing use of stablecoins for everyday transactions and cross-border payments, where digital assets can potentially offer faster settlement and lower costs than traditional rails.

QR-code spending is also contributing to usage. Activated cards on Jupiter Spend, described as a major on-chain card provider, rose 55% quarter over quarter, although the report does not provide absolute card numbers or detailed methodology for the broader market estimate.

Several companies are expanding their crypto-card offerings. Fold Holdings has begun issuing its Bitcoin Credit Card to selected waitlist users through Visa and Stripe Issuing. The product offers bitcoin rewards, with the standard rate listed at 1.5% and higher rates available through promotions and user activity. Aven’s Bitcoin Visa Card instead allows customers to borrow against bitcoin collateral without selling it. The card has reported rates beginning at 7.99% APR, with BitGo providing custody and Coastal Community Bank acting as issuer. The figures indicate growing payment experimentation, but do not establish that crypto cards have achieved mass-market adoption.
#stablecoin #institutional #payments #adoption

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Singapore Flags Hyperliquid as Unlicensed Despite Its Decentralized Structure

Hyperliquid has been identified by Singapore’s Monetary Authority of Singapore (MAS) as a crypto platform that may be mistaken for a regulated entity, despite the project’s team being based in the city-state. The Financial Times reported that the company is registered in Singapore, employs roughly 11 people there and has not applied for a MAS licence. MAS added Hyperliquid to its investor warning list on June 26, a move intended to alert the public rather than prohibit the platform’s operations.

Hyperliquid describes itself as permissionless infrastructure, arguing that trades settle on-chain and users retain control of their funds. Its decentralized design appears to be the reason MAS does not consider the platform within its licensing jurisdiction. The classification has nevertheless prompted criticism, including from Forward Industries chairman Kyle Samani, who challenged Hyperliquid’s characterization of its service as permissionless.

The issue comes as Singapore tightens oversight of digital-asset businesses serving overseas customers. Firms conducting activities such as exchange operation, brokerage or custody were given a deadline to obtain approval or cease those services, with licences generally not expected to be granted. Hyperliquid’s HYPE token was reported near $91.64, down about 3% over 24 hours. The dispute highlights continuing uncertainty over how regulators classify decentralized trading venues and non-custodial platforms.
#market #regulation #derivatives #hyperliquid

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Bitget Details Recovery and Security Changes After $387 Million Withdrawal Attack

Bitget says it has restored normal withdrawals after attackers stole approximately $387.5 million by manipulating the exchange’s internal withdrawal process. Chainalysis has attributed the incident to North Korean actors, while investigators continue tracing the funds. Bitget’s tracker shows about $1.07 million frozen, although the exchange has not disclosed how much was ultimately recovered.

CEO Gracy Chen said the company rebuilt its protection fund to more than $300 million and holds over $1 billion in additional capital outside that reserve. She argued that Bitget could absorb another loss of several hundred million dollars, but the interview did not clarify how much capital is immediately liquid or independently verifiable. Chen said the hack had limited effects on operations and profitability, although some institutional customers withdrew substantial amounts when withdrawals reopened. She also reported renewed inflows into the platform.

Bitget’s preliminary investigation found no evidence of insider involvement, but the exchange has not explained how attackers gained detailed knowledge of its systems. The company says it isolated affected infrastructure, reset credentials, tightened access controls, added withdrawal approvals, disabled vulnerable third-party functionality and improved monitoring. Chen acknowledged that the investigation remains incomplete and that no security system is impenetrable. The incident leaves important questions about third-party risk, operational controls, asset recovery and the exchange’s ability to withstand a larger breach.
#security #hack #exchange #custody

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St. Cloud Financial brings member-owned Bitcoin custody to a US credit union

St. Cloud Financial Credit Union, a Minnesota institution founded by postal workers, says it is custodying real Bitcoin for members through a hybrid structure. Under the model described by CEO Jed Meyer, each member retains individual ownership while the assets are held in a multisignature vault managed through the credit union’s infrastructure. The institution reportedly has more than 20 BTC in member custody, although the interview indicates this accumulation was driven by member activity rather than a deliberate treasury strategy. Meyer discusses the credit union’s plans to make Bitcoin available through direct buying and selling, alongside potential Lightning Network functionality. The conversation also addresses the distinction between exchange-traded funds and direct custody, as well as the regulatory and operational issues involved in offering digital-asset services. Topics include Minnesota custody law, examinations by the National Credit Union Administration and proposed federal crypto legislation such as the CLARITY Act. The interview additionally covers stablecoins, including a proposed “Cloud Dollar,” and the possibility of credit unions operating their own payment and settlement rails. The development represents an early example of a traditional member-owned financial institution integrating Bitcoin custody into its core services, though the article does not provide independent verification of the patent status, custody arrangements or regulatory approvals.
#bitcoin #regulation #institutional #custody

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Abstract Layer-2 to Close as Consumer-Focused Crypto Strategy Proves Unsustainable

Abstract, an Ethereum Layer-2 network associated with Pudgy Penguins, will shut down on December 15. The project said that operating a blockchain focused exclusively on consumer-oriented crypto applications was not sustainable. Users have been advised to bridge their assets away from the network before the closure date. The announcement raises practical concerns for holders, developers and applications still relying on Abstract, including the need to review withdrawal routes, contract support and deadlines for moving funds. It also highlights the difficulty of building durable Layer-2 activity around a narrow consumer-crypto thesis, even as Ethereum scaling networks continue to compete for users, liquidity and applications. The available information does not specify the precise technical process for the shutdown, whether all applications will remain accessible during the transition, or how any stranded assets will be handled after December 15. Users should therefore rely on official migration instructions and verify bridge destinations before transferring funds. The closure is significant for participants in the network and for observers assessing Layer-2 sustainability, but the report does not indicate a broader Ethereum infrastructure failure or a systemic market event.
#ethereum #layer2 #nftgaming #technology

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ECB Board Member Says Digital Euro Could Help Preserve Banking-System Stability

An executive board member of the European Central Bank said a potential digital euro is intended to support, rather than replace, commercial banks in the European monetary system. The official warned that failing to develop a common European digital payment instrument could increase fragmentation across the region. The comments frame the proposed central bank digital currency as part of efforts to strengthen the euro area’s financial infrastructure and maintain a unified monetary system. The policymaker also sought to address concerns that a digital euro could draw deposits away from banks or undermine their role in credit creation and payments. Under the stated approach, banks would remain involved in distributing and servicing the digital currency, while the ECB would provide the underlying central-bank money. The remarks do not indicate that a final launch decision has been made, nor do they provide a timetable or details on implementation. The digital euro remains subject to the EU legislative process and broader debates over privacy, financial stability, user adoption and the relationship between public digital money and existing private payment solutions. For crypto markets, the development is relevant mainly as a potential competitor or complement to stablecoins and other digital payment technologies in Europe.
#regulation #institutional #payments #europe

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Winklevoss Twins Seek Nasdaq Listing for Direct-Hold Zcash ETF

Cameron and Tyler Winklevoss have filed to launch a spot exchange-traded fund focused on Zcash, adding another proposed institutional investment vehicle for the privacy-oriented cryptocurrency. The fund, which would trade on Nasdaq under the ticker WINK, is intended to hold ZEC directly rather than gain exposure through derivatives or other financial instruments. Gemini, the cryptocurrency exchange founded by the twins, would serve as custodian for the fund’s assets. The filing comes amid growing interest from asset managers in offering regulated products tied to digital assets beyond Bitcoin and Ethereum. If approved, WINK would give traditional-market investors a brokerage-accessible way to obtain exposure to Zcash without directly managing wallets or private keys. The proposal still requires regulatory review, and the filing does not guarantee that the fund will launch or receive approval. Zcash uses privacy-enhancing technology designed to allow shielded transactions, a feature that has attracted users seeking greater transaction confidentiality but has also drawn regulatory and compliance scrutiny. The proposed ETF could therefore become a notable test of institutional demand for privacy-focused crypto assets, although its significance will depend on approval, fund structure, trading liquidity and investor uptake.
#etf #institutional #custody #privacy

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Prediction-market activity surges as Kalshi leads a growing legal fight over sports contracts

Prediction-market activity reached a record $188 billion in notional volume during the third quarter of 2026, according to CryptoRank, representing an increase of almost 70% from the previous quarter and roughly 21 times the level a year earlier. The figure counts each contract at its full $1 payout value rather than the amount traders paid, so it overstates actual capital committed. DeFi Rate data indicates that Kalshi users paid approximately $41 billion for $142 billion in contracts during the quarter, implying an average purchase price near 29 cents per dollar of payout.

Kalshi accounted for most of the sector’s growth after moving ahead of Polymarket in the spring. Sports contracts were the primary driver, generating more than $58 billion in Kalshi volume during June and July and representing about 40% of its third-quarter activity, according to cited research. Across platforms, sports contracts recently represented 68% of buyer spending.

The expansion is accompanied by legal uncertainty. Ohio and Tennessee argue that Kalshi’s sports markets constitute gambling, and a federal appeals court recently allowed those states to restrict the company’s offerings. A separate appeals court previously ruled in Kalshi’s favor in New Jersey. Polymarket is also facing legal scrutiny in New York. Separately, Galaxy Research found that 69.2% of 2.9 million retail Polymarket accounts ended below break-even, with combined losses of $338.9 million since 2020.
#regulation #markets #predictionmarkets #adoption

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Agora’s OCC Approval Could Shift AUSD Issuance to a U.S. Trust Bank

Agora has received approval from the U.S. Office of the Comptroller of the Currency to proceed with plans for a national trust bank, creating a potential new structure for its AUSD stablecoin operations. If established, the bank would assume responsibility for issuing AUSD and managing its reserves from Agora’s existing Bermuda-based entity. The approval is conditional rather than a final authorization to begin operations. Agora must still satisfy requirements covering capitalization, liquidity, risk management and regulatory compliance before the institution can open. The proposed move would place AUSD’s issuance and reserve administration under a U.S. banking framework, potentially giving the stablecoin a more clearly regulated domestic operating base. It also reflects the broader trend of stablecoin companies seeking bank charters or trust structures as regulators focus more closely on reserve quality, redemption processes and operational controls. The article does not indicate that the transfer has already occurred or that AUSD’s market structure will change immediately. Further regulatory steps and operational preparations are required before the planned bank can take over from the Bermuda entity.
#regulation #stablecoin #usdc #compliance

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Study Finds Flash-Loan Attacks Drained $1.2 Billion From DeFi Over Four Years

A study examining decentralized-finance security incidents estimates that flash-loan attacks extracted about $1.2 billion from DeFi protocols between 2020 and 2024. The researchers reportedly analyzed more than 20 billion blockchain transactions to identify attack patterns and assess how the threat evolved. Their findings indicate that flash-loan exploits became increasingly sophisticated during the period, making them harder to anticipate using straightforward detection methods. Flash loans allow users to borrow large amounts of capital without collateral, provided that the loan is repaid within the same transaction. Attackers can use that temporary liquidity to manipulate prices, exploit flawed protocol logic, or combine weaknesses across multiple smart contracts. The reported losses highlight the continuing risks associated with composability and automated financial systems, where one vulnerable component can expose interconnected applications. The study’s figures cover a multiyear period and aggregate incidents across DeFi, rather than describing a single newly discovered exploit. Even so, the scale of the estimated losses underscores the importance of stronger smart-contract audits, real-time monitoring, robust oracle design, and improved incident-response procedures. For investors, the research offers a broad warning about protocol and systemic risk, although the source excerpt does not identify individual projects or provide details on the methodology behind the loss estimate.
#defi #security #exploit #technology