Flash News

TREE NEWS update: Igloo, the parent of Pudgy Penguins, will shut down its consumer-focused L2 network Abstract on Dec 15, the project announced on Oct 7. Pudgy Penguins CEO Luca Netz cited tens of millions of dollars in operating losses, weak DeFi activity, limited institutional participation and unclear product-market fit. Abstract drew over 400,000 users and 325 million on-chain transactions, with DeFi TVL around $5.6 million.

TREE NEWS update: Greece has drafted a bill setting a 10% capital gains tax on crypto, lowered from the 15% rate floated in June, with the first €500 of annual gains exempt. The proposal lands as crypto tax rates across Europe range from 8% in Cyprus to 33% in Italy.

TREE NEWS reports: Ethereum researcher Justin Drake’s warning about artificial intelligence’s threat to cryptography has divided the crypto industry, with some dismissing the concern and others urging proactive preparation. The disagreement centers on how urgently the sector should respond to AI-driven risks to cryptographic systems.

TREE NEWS reports: Bitcoin’s realized cap rose by nearly $5 billion in the 30 days to Oct. 5, Glassnode data showed, with most of the increase coming from existing holders rather than fresh capital. The reading indicates the rally was driven by revaluation of coins already in circulation as the BTC price advance stalled.

TREE NEWS update: The European Securities and Markets Authority has urged crypto firms in the EU to stop offering services involving stablecoins that do not comply with MiCA, giving national regulators three months to address existing exposures. The directive sets a deadline for firms to wind down services tied to non-compliant tokens.

TREE NEWS update: Samsung Wallet will let users send USDC across borders on Solana starting in late October, rolling the feature out across roughly 82 million Galaxy devices in the US. The move comes three months after Samsung teased stablecoin support without naming a blockchain. Solana becomes the named network for the wallet’s cross-border stablecoin transfers.

TREE NEWS update: DeAgentAI’s $AIA token began trading against the Korean won on Bithumb, opening the AIA/KRW pair. The project also opened a principal-protected staking plan in which users subscribe with USDC, receive the full USDC amount back at maturity under the product terms, and earn rewards of up to 50% of the AIA actually staked. DeAgentAI framed the plan as part of its AIA value flywheel after products including AI Token Smart Router.

TREE NEWS update: Samsung Wallet will add USDC transfer support for eligible US Galaxy users in October, letting them send the stablecoin to crypto wallets and move funds to bank accounts in more than 60 countries. The feature marks the wallet’s expansion into stablecoin transfers for US users.

TREE NEWS update: Crypto and fintech investment firm Deus X Capital has ceased operations after its backers decided to pursue separate investment strategies, and will formally dissolve on Jan 31, 2027. The company was led by former Galaxy Digital executive Tim Grant. Chief investment officer Stuart Connolly will stay on to oversee the transition, while some portfolio companies will continue operating with their existing stakeholders.

TREE NEWS reports: NEAR has climbed into the top 20 cryptocurrencies by market capitalization, following a 140% price surge over 30 days. NEAR Intents, the protocol’s intent-based transaction layer, surpassed $31 billion in cumulative transaction volume. The move marks a sharp re-rating for the Layer 1 token as its intents product gains traction.

TREE NEWS update: Huobi HTX launched USDT-margined perpetual contracts for AKAM, VKTX, H100, FOXA, INTU and CT on October 8, offering 1-20x leverage for both long and short positions. The exchange is also running a new-contract trading competition through October 15 at 15:00 (UTC+8), with a total prize pool of 1 billion $HTX for registered users who meet specified trading thresholds.

TREE NEWS update: Greece’s draft bill proposes a 10% tax on cryptocurrency capital gains, with exemptions for annual gains of up to 500 euros and for crypto-to-crypto swaps. The proposal sets out the country’s planned tax treatment of digital-asset trading gains.

TREE NEWS update: Gate announced a partnership with Visa to launch a crypto-linked card, with the service expected to roll out across more than 40 markets worldwide. Users can apply for and manage the card through the Gate App and pay at Visa-accepting online and offline merchants, with digital assets automatically converted to fiat at payment. Gate also launched Gate Money, integrating digital assets, fiat, stocks, ETFs, gold, bank accounts and payments into the Gate App.

TREE NEWS update: Standard Chartered said it will expand its crypto custody services into Singapore, extending a footprint that already covers the UAE, Luxembourg and Hong Kong. The bank did not disclose a launch date or the scope of the Singapore offering. The move adds to the lender’s existing digital-asset custody operations across three other jurisdictions.

TREE NEWS reports: A smart-money address deposited 131,421 HYPE to Kraken over 10 days at an average of $89.56, off a cost basis of $3.87, realizing an estimated $11.26 million profit and a 2,214% return. The first suspected sale came before Hyperliquid Labs’ Sept. 30 announcement that it would sell 3.75 million HYPE worth about $329 million OTC to a single institution.

TREE NEWS update: UK tax authority HMRC is pushing to expand its powers to obtain crypto asset information, proposing to let tax officials request client data directly from crypto asset service providers and update rules for inspecting software and electronic records. UK crypto tax software firm Recap warned the proposed definition of “service provider” is too broad, potentially covering non-custodial wallet software, blockchain explorers, hardware wallet makers and tax software providers. Because blockchain transaction records are public, linking an investor’s name, address and tax identity to wallet addresses could expose long-term asset activity, raising risks of data leaks, extortion and physical attacks.

TREE NEWS update: A Douyin account, “Car Detective,” alleged that the Maextro V800, a luxury car priced at over one million yuan, suffered a brake pedal fracture. HarmonyOS Intelligent Mobility said it has not received any related feedback concerning the brake pedal and that vehicle delivery timelines remain normal. The Maextro V800 is a model under Huawei’s HarmonyOS Intelligent Mobility alliance.

TREE NEWS reports: US spot Bitcoin ETFs recorded $485 million in net outflows, the largest single-day withdrawal since June, erasing October’s net inflows. Ether funds extended their losing streak to a seventh consecutive session of outflows. The data covers the latest trading day for the US-listed crypto exchange-traded funds.