Flash News

TREE NEWS update: Beijing’s Chaoyang district public security bureau has opened a criminal investigation into companies tied to CreditEase, with founder Tang Ning, 53, and a 51-year-old woman surnamed Zhao among suspects placed under compulsory criminal measures. The move follows CreditEase’s admission that its quasi-fixed-income products are in default and that the group may be insolvent, after halting redemptions in May on products reported to involve roughly 30 billion yuan.

TREE NEWS reports: Jeonbuk Bank has begun offering Bitcoin-backed loans to corporate customers, with a third-party custodian holding the cryptocurrency used as collateral. The South Korean lender’s move marks a further step by a regulated bank into crypto-collateralized lending.

TREE NEWS update: Payward, the parent company of crypto exchange Kraken, has received final regulatory approval in Dubai, clearing the way for the launch of its UAE operations in the coming weeks. Kraken plans to offer AED-denominated spot and margin trading, staking, xStocks and Krak transfer services, plus institutional OTC spot trading and Kraken Prime. Its crypto derivatives business still requires further regulatory approval.

TREE NEWS update: The European Securities and Markets Authority has called for noncompliant stablecoin services to be wound down by Jan. 8, in an opinion that covers custody and transfers. The guidance moves beyond earlier advice that had allowed those services to continue, widening the scope of what EU firms must exit.

TREE NEWS update: Solana treasury company SkyAI (SKYA) plans a cash tender offer to buy up to 95% of its outstanding common shares and warrants at $3 each, covering roughly 46.4 million shares and 20.7 million warrants for a maximum total of about $201 million. The company said it expects to fund the offer with existing cash and proceeds from selling its Solana holdings. The tender is expected to launch Thursday and run for 10 business days, subject to extension or early termination.

TREE NEWS update: PaperTrade, a new perpetuals protocol, recorded $14.4 billion in notional trading volume within 10 minutes of launch and more than $678 billion in its first 24 hours, founder Jez said in an interview. The platform offers up to 1,000x leverage with zero slippage and no order book, drawing liquidity from a pool built from users’ cumulative losses; losing traders receive Paper tokens. Jez said the project was enabled by Hyperliquid testnet precompiles that read Hyperliquid’s best bid and offer on-chain for free.

TREE NEWS reports: On-chain investigator ZachXBT criticized the XRP Ledger Foundation for paying only $250,000 to a white-hat hacker who discovered a critical flaw that could have allowed infinite XRP minting. He said the low payout risks encouraging future attackers to exploit such bugs for nine-figure sums instead of reporting them. The XRPL Foundation had earlier clarified that the vulnerability did not mint new XRP and that a community-driven patch resolved it.

TREE NEWS reports: Binance founder CZ alleged that hackers acquired the crypto reseller CryptoBilis, as Ledger investigates wallet drains. CryptoBilis’s former founders said they handed over operations in March and that their acquisition agreement delayed a public announcement until mid-October.

TREE NEWS update: Polygon’s protocol burned 100 million POL tokens two weeks ago using network-generated fees, founder Sandeep Nailwal said, an amount equal to roughly 1% of the token’s total supply. A further 22 million POL, about 0.2% of total supply, is now queued for the next burn phase, Nailwal said.

TREE NEWS update: UK bitcoin treasury company The Smarter Web Company raised $13.25 million through a preferred share issuance. Its $MORE shares will begin trading on the London Stock Exchange main market on Wednesday, with the first weekly dividend scheduled for November 9. Of the proceeds, 47.93% is earmarked for buying additional bitcoin, 46.08% for working capital and general corporate purposes, and 5.99% for business growth.

TREE NEWS update: Shanghai Chuguang Yueqian Intelligent Technology Co. added Hanxing Venture Capital, a Xiaomi affiliate, as a shareholder in a business registration change, with registered capital raised to 600,000 yuan, Qichacha records show. The company, founded in May 2026, lists smart robot sales and R&D, general AI application systems and AI infrastructure platforms among its business scope.

TREE NEWS reports: Trader Pyro bought $32,500 of STONK two months ago at a $2.28 million market cap and has since cashed out $29,300, Arkham data shows. He still holds a position worth $617,800, a 21-fold return on his original stake.

TREE NEWS update: A new ENSv2 activation proposal would stop new ENSv1 registrations, while existing .eth holders would face no migration deadline. Under the plan, ENS Labs would hand its remaining ENSv2 admin roles to the DAO. The proposal marks a step toward moving the Ethereum Name Service’s core registration system to its next version.

TREE NEWS update: Pando Finance will list its Solana ETF on the Hong Kong Stock Exchange on October 13, with an estimated annual fee of 1.6%. The fund will hold SOL through HashKey and will not stake, use leverage or pay dividends. It becomes Hong Kong’s second Solana ETF, following ChinaAMC’s.

TREE NEWS reports: The Financial Stability Board flagged cross-border stablecoin risks and AI-related cybersecurity threats and urged G20 policymakers to back stronger safeguards. The global watchdog issued the warning ahead of the G20, calling for tighter oversight of the two areas.

TREE NEWS reports: F2Pool co-founder Chun Wang moved 2,160 ETH, worth $5.52 million, from F2Pool’s Gnosis Safe wallet to Binance, on-chain tracker Onchain Lens reported on October 12. The transfer marks a notable inflow of ether from a major mining pool’s multisig address to the exchange.

TREE NEWS update: UK authorities have frozen a London mansion and luxury watches worth 170 million yuan (about $24 million) belonging to Li Tian, finance chief of Cambodia’s Prince Group, widening an asset probe tied to alleged transnational cyber fraud and money laundering. The move follows freezes on multiple London properties linked to group founder Chen Zhi and Hu Xiaowei. In October 2025 the US Treasury sanctioned Prince Group and associates, naming Li as a close Chen Zhi associate managing illicit fund flows and bulk cash smuggling.