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first_img The New York Department of Financial Services issued advertising marketing guidelines for licensed cryptocurrency entities

According to The Block, the New York State Department of Financial Services has issued new guidelines for advertising and marketing requirements for licensed cryptocurrency entities in the state, which include avoiding misleading or deceptive content. Acting Superintendent Kaitlin Asrow stated in a press release that today's guidelines reinforce the commitment to protecting New York residents and ensure that advertising and marketing practices in the virtual currency space are clear, comprehensive, and accessible.The New York State Department of Financial Services announced on the same day that these guidelines apply to virtual currency entities licensed or chartered by the department, requiring them to establish and implement policies and procedures for advertising and marketing materials related to virtual currency products, services, and activities, with a focus on content accuracy, clear disclosures, and governance and review processes. Relevant entities must update their policies and procedures according to the guidelines by May 10, 2027, review them at least once a year, and maintain records for regulatory inspection. The Department of Financial Services will assess the implementation and effectiveness of these policies and procedures through examinations and ongoing supervision.Common practices listed in the guidelines include: reviewing marketing claims to ensure they fairly present products, services, or activities, are supported by evidence and verifiable, and do not contain exaggerated or false statements about performance or regulatory status; customer disclosures should be clear, prominent, easily understandable to the general audience, and clearly identify the entity providing the products, services, or activities; establishing governance review processes for advertising and marketing materials, designating responsible parties, conducting due diligence on third-party promoters, and promptly monitoring and addressing instances of fraudulent or improper use of their name or brand by others.

Bloomberg: Wintermute wins approximately 76% of the priority data auction for Hyperliquid

According to Bloomberg, the crypto market maker Wintermute has become the main user of Hyperliquid's priority data auction mechanism. This mechanism allows traders to bid for the right to view incoming buy and sell orders before they are processed by the exchange, giving them a few milliseconds to adjust their quotes or hedge on other platforms.Blockchain analytics platform Loris Tools found that in the past month, a wallet associated with Wintermute won about 76% of the highest priority data slot auctions.This mechanism has raised questions about whether it favors large trading firms. DRW founder Don Wilson previously questioned whether it is fairer than the server hosting mechanisms of traditional exchanges and whether it can meet U.S. regulatory requirements.The founder of Loris Tools believes that to fully leverage this speed advantage, direct connections to nodes operated by the Hyperliquid Foundation are necessary, and this access has trading volume and token staking requirements.Wintermute founder and CEO Evgeny Gaevoy stated that the auctions are more transparent than the low-latency networks and server hosting of traditional finance, and the company primarily uses this service for cryptocurrency trading. Hyperliquid Labs stated that anyone can participate in the bidding, and all priority fee payments are publicly recorded on-chain.

NVIDIA appointed 58-year-old Chief Financial Officer Colette Kress as interim CEO, who previously worked at Microsoft for 13 years

NVIDIA's board of directors announced today that co-founder Jensen Huang has resigned from his positions as President, Chief Executive Officer, and Director, effective immediately. The company's current Executive Vice President and Chief Financial Officer Colette Kress will serve as interim CEO while continuing to manage the company as CFO. The board has initiated the selection process for a new CEO, considering both internal and external candidates.The 58-year-old Kress joined NVIDIA in September 2013 and has been with the company for over 13 years, being one of the core management members who accompanied NVIDIA's growth from a graphics chip manufacturer to a global AI chip giant. During her tenure, NVIDIA's annual revenue grew from approximately $4.1 billion in fiscal year 2013 to $21.59 billion in fiscal year 2026.Before joining NVIDIA, Kress worked at Cisco for 3 years and spent 13 years at Microsoft, where she served as the financial leader of the Server and Tools division, and also worked at Texas Instruments for 8 years. She has long been responsible for NVIDIA's financial strategy, capital allocation, performance disclosure, and investor relations, serving as an important representative for the company in communications with Wall Street, and has participated in the company's quarterly earnings call multiple times.

first_img The Thai SEC plans to set the daily deposit and withdrawal limit for stablecoins at 5 million Thai Baht

According to Cointelegraph, the Securities and Exchange Commission (SEC) of Thailand has released a draft proposing that regulated cryptocurrency operators set a daily deposit and withdrawal limit of 5 million Thai Baht (approximately 148,000 USD) for each customer regarding stablecoins. This limit will be calculated separately for each operator, applying to both deposits and withdrawals. The regulatory body stated that this move aims to curb money laundering, cybercrime, and the evasion of cross-border fund transfer regulations.The draft also prohibits the transfer of stablecoins in and out of third-party wallets, requiring operators to verify that customers own the accounts or wallets used for deposits and withdrawals. Operators must also comply with the Travel Rule, which involves collecting and sharing information related to transfers and using blockchain analysis tools to identify wallet addresses associated with suspicious activities.Additionally, the draft requires cryptocurrency exchanges to disclose their list of market makers and specify the assets that these market makers provide liquidity for; cryptocurrency brokers are not allowed to use liquidity providers for trading pairs of stablecoins with Thai Baht; a minimum threshold of 3 million Thai Baht will apply to certain over-the-counter transactions. This draft continues the consultation initiated by the Thai SEC in September, during which it had already proposed limits on stablecoin transfers and recommendations for strengthening the regulation of cryptocurrency operators.

In October, the core CPI in the United States exceeded expectations for three consecutive months, with rising costs in energy, services, and AI increasing pressure for interest rate hikes

Inflation data for October in the United States sends multiple warning signals. The data shows that the core CPI rose by 0.3% month-on-month, higher than the market expectation of 0.2%, exceeding expectations for the third consecutive month; the overall CPI rose by 0.4% month-on-month, also above expectations. The impact of rising energy prices is spreading to areas such as food and transportation, and service inflation remains robust, further complicating the Federal Reserve's efforts to control inflation.Specifically, food prices in the U.S. rose by 0.5% month-on-month in October, with grocery prices recording the largest monthly increase since April; urban transportation service prices saw the largest monthly increase since 2020, and prices for airline tickets and delivery services also increased. Additionally, service prices excluding energy and housing rents rose by 0.4% month-on-month, while owners' equivalent rent increased by 0.3%.AI investments are bringing new cost pressures. Over the past three months, the annualized price increase for computers and peripheral devices in the U.S. reached 25%, and electricity prices rose by 0.9% month-on-month in October, marking the largest increase in six months. Morgan Stanley estimates that AI-related factors have contributed about 6 basis points to the core CPI this year, with the current impact still relatively limited, but as data center investments expand, related pressures may rise further.In terms of monetary policy, Chicago Fed President Goolsbee described the latest inflation data as approaching an alarming level. Fed Governor Waller previously stated that if the core CPI month-on-month increase reaches 0.3% or higher, the December meeting should consider raising interest rates by 50 basis points. Goldman Sachs has included a forecast for an additional 25 basis point increase in March 2027, expecting that the target range for the federal funds rate will rise to 4.25% to 4.50%. However, some economists warn that there is a lag in the transmission of energy prices, and over-reliance on current data may lead to excessive tightening of monetary policy.

first_img BNY has partnered with Figment to support staking on its digital asset custody platform

According to The Block, banking giant BNY will adopt the validator infrastructure of staking service provider Figment to support its staking business. Eligible institutional clients can stake assets within the platform through BNY's existing digital asset custody services.Figment stated that BNY's staking clients include asset management companies, ETF issuers, corporations, and wealth management institutions. Qualified clients can earn staking rewards on supported assets on the platform. A Figment spokesperson told The Block that ETH will be supported initially, followed by an expansion to SOL, although no specific launch date has been announced.Ralf Roth, head of BNY's digital asset custody, stated that as institutional participation in staking increases, the focus is shifting from whether staking can be accessed to how staking is delivered. Providing staking services in a trusted custody framework with Figment allows institutions to have more confidence in their participation methods and meets their standards for security, oversight, and accountability.Josh Deems, head of revenue at Figment, stated that Figment is bringing its validator infrastructure and staking experience to BNY's digital asset custody platform, providing institutional clients with another way to participate in staking within existing platforms and service processes.BNY launched its digital asset custody services in October 2022, initially accepting Bitcoin and Ethereum from a limited number of clients. Last month, BNY expanded its custody agreement with Ripple to cover XRP and RLUSD, and plans to allow BNY clients to mint and redeem RLUSD through the bank.Coinbase Prime integrated Figment's Ethereum staking services in early 2024, and when the two announced an expansion to networks such as Solana, Cardano, and Sui in October 2025, they stated that the partnership had facilitated over $2 billion in asset staking. Figment claims it has provided staking services to over 1,500 institutions, including asset management companies, custodians, exchanges, and wallets.
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