Flash News

TREE NEWS reports: At least two industry-aligned political action committees have spent more than $52 million on advertising opposing Sherrod Brown’s return to the Senate in Ohio. The spending marks an escalation by crypto-backed PACs in the 2026 midterm cycle.

TREE NEWS update: Citigroup and Bank of America have become the latest major US banks to block third-party AI agents from logging into customer accounts or initiating transactions directly on their digital banking platforms. Citi said the restriction is meant to protect account and information security. The banks have told regulators they fear AI agents could shift idle funds in pursuit of higher yields, draining deposits.

TREE NEWS update: European Commission President Ursula von der Leyen said the EU must stay the course on its planned nuclear and renewable energy路线. She made the remark without specifying new policy measures or a timeline. The statement reaffirms the Commission’s existing energy mix strategy.

TREE NEWS update: A federal judge refused to let the CFTC reopen the $5 million settlement it reached with Gemini, rejecting the agency’s argument that a shift in enforcement priorities and misconduct allegations inside its enforcement division justified unwinding the deal. Gemini signed the agreement weeks before trial. The ruling leaves the settlement in place.

TREE NEWS update: The US Department of Justice sued California election officials on October 15, seeking to pause the counting of mail-in ballots tied to more than 20,000 voters until their citizenship is verified, arguing they may not be eligible to vote. California is challenging the accuracy of the list and the legal basis for federal intervention in state election administration. The dispute comes ahead of the November 3 midterm elections.

TREE NEWS reports: Fitch Ratings said large Wall Street banks could face pressure on their medium-term profitability if anti-money-laundering regulatory actions force them into remediation and impose operational restrictions. The rating agency flagged the link between AML enforcement-driven remediation and earnings capacity.

TREE NEWS update: Lawmakers on Capitol Hill have introduced a draft bill aimed at blocking President Donald Trump’s Russian diesel transaction. The proposed legislation targets the deal directly, though no further details on its provisions or sponsors were provided in the material.

TREE NEWS update: Three Canadian Armed Forces members have been charged in connection with the kidnapping of a crypto exchange owner. Police seized guns, silencers and more than 2,000 rounds of ammunition, nearly all of it allegedly stolen from the Canadian military.

TREE NEWS update: A Delaware bankruptcy court approved a settlement agreement involving MVMT Labs (Movement Labs), parties tied to former founder Rushikesh Manche, and foundation-related parties including the Movement Network Foundation. The approval is recorded in Order No. 212 filed with the court.

TREE NEWS update: Deutsche Bank plans to launch a crypto custody service within weeks, serving corporate and institutional clients in Europe. The bank targets expansion into Asian financial centres in 2027.

TREE NEWS update: Mizuho, MUFG and SMBC completed a joint pilot of a yen stablecoin in July, covering issuance, transfer and redemption for Mitsubishi Corporation. The three banks have targeted commercial transactions using the stablecoin in fiscal 2026.

TREE NEWS reports: Binance.US is seeking to raise up to $100 million at a $1 billion valuation, Bloomberg reported. Trump-affiliated World Liberty Financial was made aware of the fundraising but is not participating. The exchange’s raise comes as it seeks new capital amid a shifting US regulatory environment for crypto trading platforms.

TREE NEWS update: CFTC Chair Mike Selig said the agency holds exclusive jurisdiction over prediction markets, arguing fraud and manipulation do not stop at state lines. In an X post, Selig said prediction market exchanges operate interstate, matching buy and sell quotes from customers nationwide. Congress has authorized the CFTC to enforce uniform standards, monitor and prosecute fraud and manipulation, and protect customer funds across state borders.

TREE NEWS update: The Federal Reserve Board announced the termination of enforcement actions with Gardner Bancshares, Inc. and Small Business Bank. The order lifts the central bank’s outstanding supervisory actions against the two institutions. The Fed did not provide further details on the reasons for the terminations.

TREE NEWS update: OKX founder Star said the exchange periodically re-verifies and updates user identity information, with re-verification possible after one, three or five years of account opening or when identity documents expire. He said the practice is a routine KYC obligation for global financial institutions and does not mean an account is abnormal, urging users to update details as prompted. The statement followed complaints from mainland China-registered users on X about second-round verification notices and being unable to close accounts.

TREE NEWS update: French lawmakers have proposed amendments to the 2027 budget that would extend the existing 31.4% capital gains tax to Bitcoin-to-stablecoin trades, limited to MiCA-compliant e-money tokens such as USDC. The proposals also include an exit tax on those moving tax residency abroad while holding over €800,000 in digital assets, mandatory declaration of self-custodied holdings worth at least €100,000 with fines up to €10,000, and a 10-year loss carryforward. The National Assembly finance committee rejected the revenue section 31-3 on October 9; none of the measures are law.

TREE NEWS update: People’s Bank of China Governor Pan Gongsheng met IMF Managing Director Kristalina Georgieva in Bangkok on the sidelines of the IMF/World Bank annual meetings, the central bank said. The two exchanged views on the economic situations in China and globally and on cooperation between China and the Fund. PBOC Deputy Governor Xuan Changneng also attended the meeting.

TREE NEWS update: The US Treasury Department issued Venezuela-related General License 60A, the Trump administration’s authorization of funding support for Venezuela following recent earthquakes. The license, published by Treasury, permits the previously restricted flow of funds toward earthquake relief in the country. No further terms or counterparties were disclosed.