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According to the Financial Times, the European Union is considering implementing a universal tax measure targeting large enterprises to tax major American technology companies. This move aims to increase revenue for the EU while avoiding a strong backlash from the Trump administration.

Hyperliquid founder Jeff Yan stated in a discussion at TOKEN2049 in Singapore that in July this year, the HIP-3 market contributed about 51% of Hyperliquid's trading volume at one point, reflecting a significant product-market fit in the related market. He mentioned that users are willing to migrate from existing financial products and try new on-chain markets, indicating a substantial gap in product supply previously and demonstrating users' trust in the execution capabilities of the relevant deployers.The discussion mentioned that perpetual contracts for real-world assets such as crude oil and Pre-IPO have become important application directions for HIP-3. Jeff Yan noted that one of the more concerning changes over the past year is that more markets are allowing users to participate in trading opportunities that were previously inaccessible. He believes that in traditional finance, some assets are often only accessible to a few people in the early stages, and by the time they are open to the public, the main growth phase may have already been captured by a few with access advantages. The financial system should be as open as possible to a broader range of users.Jeff Yan also stated that Hyperliquid hopes to become an open protocol and infrastructure for various financial products and applications rather than directly competing with front-end platforms. Builder Codes allow developers to create mobile applications, institutional trading terminals, and other products without having to build their own underlying systems for matching, clearing, etc., and directly connect to Hyperliquid's market and liquidity. He said, "No one is competing with the internet," and Hyperliquid is similarly more like a layer of infrastructure that can be adopted by different companies.

According to Decrypt, the cross-border payment company Conduit has filed a lawsuit against the stablecoin issuer Tether in the U.S. District Court for the Southern District of New York. Conduit alleges that Tether unilaterally froze $2.76 million worth of USDT in its treasury wallet on September 24, 2025, and has refused to unfreeze it for over a year.The complaint shows that the freeze originated from a Brazilian police investigation into a third party, Onix, but Conduit claims that the wallet in question was created after Onix's last transaction and has never held Onix's funds. The Brazilian police did not mark the address, and the freeze decision was made independently by Tether's T3 Financial Crimes Department.Conduit states that the wallet freeze has caused a severe liquidity crisis, forcing the company to lay off employees and close offices; meanwhile, Tether continues to earn interest on the reserves corresponding to these funds by investing in U.S. Treasury bonds. The lawsuit seeks claims for conversion of property, unjust enrichment, breach of fiduciary duty, and computer fraud, demanding the return of the funds.Recently, Tether has been involved in lawsuits due to on-chain freeze rights, with two Thai businessmen previously suing Tether for freezing $42.4 million in USDT earlier this year. This case has once again sparked controversy in the market regarding Tether's unilateral power to freeze USDT addresses.

Startale Japan Co. Ltd. announced the launch of a digital corporate bond, with both interest and principal paid in the Japanese yen stablecoin JPYSC. This bond is aimed at individual and corporate investors in Japan and is not issued to overseas investors.JPYSC is issued by SBI Shinsei Trust Bank, which manages the trust assets, pegged 1:1 to the Japanese yen, and is classified as a Type III electronic payment instrument under Japan's Payment Services Act. SBI VC Trade acts as the issuing trustee and is responsible for issuance and distribution, while Startale Group provides the underlying technology. Startale Group CEO Sota Watanabe stated that this bond will test the application of JPYSC in actual interest and principal payments. The announcement did not disclose the bond issuance scale, coupon rate, maturity date, or individual investment limits.

Financial technology startup Navra announced the completion of a $19 million Series A financing round, led by Ribbit Capital, with participation from Baseline, DCM, and others, while Jump Crypto and Figure Technology Solutions acted as strategic investors.Navra primarily connects multiple blockchain venues through a single interface, directly linking DeFi yield protocols and cash channels, providing keyless self-custody services that meet qualified custody requirements, and includes an AI agent; the institutional version also supports enterprise team management and full audit tracking.

Anthropic announced the expansion of access to its state-of-the-art AI models, allowing verified institutions to use models such as Claude Opus 5.5, Claude Sonnet 5.5, and Claude Mythos 5.1 for cybersecurity testing.U.S. government agencies, financial institutions, and large software vendors participating in the "Project Glasswing" project will gain open eligibility, and newly joined institutions must be jointly reviewed by Anthropic and the U.S. government.

The cross-border payment company Conduit has filed a lawsuit in the Southern District of New York Federal Court, accusing the stablecoin issuer Tether of freezing its $2.76 million in funds and refusing to unfreeze or provide any explanation. Conduit states that its USDT has been locked for over a year. The complaint claims, "Conduit owes no money to Tether and has no obligations to Tether."Conduit uses stablecoins, including Tether's USDT and Circle's USDC, to transfer funds across more than 100 countries. The lawsuit states that the wallet frozen by Tether is equivalent to Conduit's "operating bank account." This freeze reportedly stems from an investigation involving Conduit's former client Onix Intermediações, which was received by the Brazilian Federal Police. However, Conduit claims that law enforcement has confirmed it never requested the freezing of the payment service provider's funds wallet, and it is unclear why Tether took action; a Brazilian court also confirmed that Conduit is not under investigation related to the Onix Intermediações case.According to the complaint, Onix has not used the Conduit platform since April 2025, about a month before the creation of that funds wallet, and that wallet has never held any funds from Onix. Since the wallet is used to support company operations, Conduit states that its business has been affected, while Tether continues to earn interest on the reserves behind the frozen USDT.

According to The Block, Nasdaq-listed Solana Treasury company DeFi Development Corp. (DFDV) announced that it has approved an open-ended buyback plan to repurchase all outstanding shares of its CHAD preferred stock, including any shares that may be issued in the future.The plan gives the company flexibility to repurchase when the trading price of CHAD is below the $10 par value. The company stated that it does not intend to immediately buy back CHAD but hopes that the preferred stock will stabilize near the par value first.DeFi Development CEO Joseph Onorati stated that the company's primary goal is simple: to bring CHAD back to par value. He mentioned that this is not an announcement to buy CHAD today, but rather to set up the infrastructure, so that once CHAD stabilizes near par value, if it subsequently falls below par, the company will have an additional tool available. He also stated that the company views CHAD as a long-term financing platform rather than a one-time issuance.This open-ended authorization adds a potential funding allocation tool to DeFi Development's existing $300 million At-the-Market (ATM) issuance plan for CHAD, which the company previously stated would be used to raise funds for increasing its holdings of SOL. The company paid the first dividend on CHAD on October 1.Additionally, the company stated on Monday that preliminary estimates for the third quarter show that as its Solana Treasury increased to 2.56 million SOL over the past week, the net asset value per share has more than doubled compared to before. DFDV's stock price rose 3.3% during Tuesday's trading session.

The International Monetary Fund (IMF) pointed out in the "Global Financial Stability Report" that attention should be paid to the risks that hedge funds pose to macro-financial stability. The rapid growth of global hedge fund assets may amplify price misalignments and liquidity strains, leading to severe negative impacts or triggering systemic risks. The IMF recommends strengthening data collection and risk monitoring, as well as implementing prudent regulatory measures.

CrowdStrike, Amazon Web Services (AWS), and NVIDIA expand their global cybersecurity startup accelerator, aiming to define the next generation of innovation in the era of intelligent agents.

American AI fintech company Valon completed a $150 million Series D funding round with a valuation of $2.3 billion, supported by existing investors such as Andreessen Horowitz (a16z), with Ribbit Capital participating as a new investor.

According to a report by the Japan Economic News cited by Reference News, the Japanese government has decided to impose additional sanctions on Russia during a cabinet meeting. In principle, the Japanese government prohibits providing operational, maintenance, insurance, and financing services to 35 vessels in Russia's "shadow fleet," which secretly transports crude oil to evade Western sanctions.In addition to the sanctions against the "shadow fleet," the Japanese government will also add 33 Russian military-related groups and 9 individuals to the asset freeze list, including groups involved in using cryptocurrency to evade financial sanctions.

A 28-year-old core member of the globally renowned ransomware group Qilin has been arrested in Japan and was extradited to Germany on October 2. Reports indicate that the man is suspected of illegally infiltrating the systems of a logistics company in Germany in September 2024, encrypting data, and demanding a ransom of approximately $165,000 (about 26 million yen) in Bitcoin.Investigations show that he was responsible for building the attack systems within the Qilin criminal network and took a cut from the ransoms collected by various branch execution teams. Japanese police apprehended him while he was traveling to Osaka in late May this year, and he was subsequently handed over to German authorities after being deemed eligible by the Tokyo High Court. Qilin operates under a "ransomware as a service" (RaaS) model and previously claimed responsibility for a cyber attack on Japan's Asahi Group in 2025.

Nine Japanese institutions, including Sumitomo Mitsui Banking Corporation, Daiwa Securities, SBI Securities, Progmat, and Datachain, announced the completion of the second phase verification of "Project Trinity." The project aims to eliminate settlement synchronization risks through "Delivery versus Payment" (DvP).In the tests, Daiwa Securities and SBI Securities simulated the START market of the Osaka Digital Exchange (ODX), using corporate bonds issued by ST Company through SBI VC Trade and trust-type stablecoins issued by Sumitomo Mitsui Banking Corporation, successfully completing two cross-chain synchronized settlements, thereby verifying the feasibility of the T+2 settlement cycle in phases.

According to Businesswire, AI security company Hadrian announced the completion of a $40 million financing round, led jointly by Forgepoint Capital International and SmartFin, with participation from existing investors such as HV Capital, Motive Partners, Picus Capital, and Oetker Ventures.The company simulates an attacker's perspective for enterprises by combining Continuous Exposure Management and AI-driven penetration testing, helping to identify external attack surfaces, validate real risks, and optimize remediation priorities. After this financing round, Hadrian's total funding amount reaches $65 million, and the funds will be used to expand into the European and American markets, grow the engineering and research teams, and further develop its AI-driven cybersecurity platform.

AMD CEO Lisa Su has been intensively meeting with major companies such as Foxconn, Quanta, ASUS, and Acer, and has held secret meetings with TSMC. Lisa Su confirmed that AMD's plan to invest $10 billion in Taiwan will be increased due to a surge in market demand, and the company will continue to expand its supply chain investments in Taiwan.AMD is working with TSMC and suppliers to accelerate capacity enhancement to meet market demand that exceeds supply.

According to PR Newswire, Ondo Finance announced the launch of Ondo Private Markets, providing on-chain access to top private companies for investors through tokenized notes. The first target will focus on a private company in the artificial intelligence sector, expected to begin trading on the secondary market this week.Subsequently, Ondo Private Markets plans to expand to private enterprises in fields such as robotics, cybersecurity, biotechnology, and infrastructure. Ondo stated that the related tokens do not correspond to the company's stocks or shares but provide holders with economic exposure to the performance of the reference company's common stock in qualified liquidity events through tokenized notes. The tokens can be freely transferred on-chain and can be used in conjunction with the DeFi ecosystem.This product is based on Ondo's existing on-chain asset infrastructure, which currently has a total value locked (TVL) of approximately $3.7 billion and over 1 million cumulative holders across the related tokenized stock and U.S. Treasury platforms. Ondo Finance indicated that the majority of large companies in the U.S. are still in private stages, with about 87% of companies generating over $100 million in annual revenue being private. Traditional investors often find it difficult to participate in these companies' early growth opportunities. Ondo Private Markets aims to provide a more flexible trading channel through the blockchain secondary market, allowing qualified investors to adjust their private market exposure around the clock.

According to the Financial Times, American companies are feeling the impact of a bond sell-off. As U.S. Treasury yields rise, some companies are being forced to reconsider their borrowing plans.Investors indicate that if yields remain high, more default cases may be seen.

ChainCatcher live report, at the OKX NOW Global Products and Ecosystem Conference (Singapore), OKX founder Star delivered a keynote speech, elaborating on OKX's strategic positioning.He stated that OKX started with spot trading and has since expanded into derivatives, Web3 wallets, payments, and tokenized stocks, "it is no longer accurate to view OKX merely as a cryptocurrency exchange."He proposed that OKX's long-term direction is to provide four types of services for the younger generation: supporting users in choosing between custodial accounts or self-custody wallets for fund holding; low-cost, instant payments; a unified entry for investing in various assets; and AI-driven wealth management tools.

Cryptocurrency trader Ansem posted that he believes correlating the current cycle with the markets of 2020, 2023, or 2024 has limited reference value. For him, the closest environment to the current one is the DeFi expansion from 2020 to 2021, when a brand new business sector brought billions of dollars into the blockchain.In this cycle, stablecoins, especially tokenized stocks, are opening new markets while attracting participation from retail investors, institutions, and developers. New fields will bring new capital flows, products, and a large amount of speculative activity, which is the framework he uses to analyze this cycle.