# 24H Web3 News Recap #559 Web3 News Recap, edition 559. Published 2026-10-23. 8 min read. Canonical page: https://www.w3match.com/reports/recap-2026-10-23 Top stories: Spot Bitcoin ETFs lose $635.5M in one day; Brent settles 4% higher at $113.17; HSBC launches HKD stablecoin RedCoin for retail. ## Key numbers - **Fear & Greed Index:** 50/100 (alternative.me, 2026-10-23; Neutral, 68 yesterday) ## Macro & Global Markets **US 10-year Treasury yield drops to 4.96% on October 22 from 5.13%** The 17 basis point fall was matched at the short end, where the 2-year yield slid to 4.65% from 4.81%. The 30-year yield eased to 5.29% from 5.42%. The 10-year had closed at 5.15% on October 19, its highest level of the month, before easing to 5.12% on October 20\. The Federal Reserve announces its next rate decision on October 28. Source: [US Treasury](https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily%5Ftreasury%5Fyield%5Fcurve&field%5Ftdr%5Fdate%5Fvalue%5Fmonth=202610) **Japan's core inflation hits 2.1% in September, first reading above BOJ target since December** The reading, released Friday, rose from 1.7% in August and matched the consensus forecast. The core-core gauge, which strips out food and energy and is the Bank of Japan's preferred measure, climbed to 2.4% against a 2.3% forecast. Headline inflation also reached 2.1%, up from 1.9%. Analysts tied the rise to a weak yen lifting import costs and to higher energy prices. The BOJ raised its policy rate to 1.25% in September, a three-decade high, and the data adds pressure for another hike this year. Source: [CNBC](https://www.cnbc.com/2026/10/23/japan-inflation-september-highest-in-2026.html) ## Geopolitics & Energy **Brent settles 4% higher at $113.17 on Thursday, WTI climbs 2.4% to $99.47** It was Brent's biggest one-day gain in roughly two weeks, and the December contract is now up more than 80% this year. Houthi attacks on Saudi targets, including Aramco's Shaybah field, the airport in Dammam and the port of Yanbu, revived supply fears. Iran has also stepped up attacks on shipping around Hormuz as the US-Iran war nears its ninth month. Diesel prices rose too, with Gulf product flows constrained and Ukraine striking Russian refineries. Crude exports through Hormuz have recovered to near pre-war levels, which partly offset the worries. Source: [Rigzone (Bloomberg)](https://rigzone.com/news/wire/oil%5Fsurges%5F4%5Fafter%5Fdeadly%5Fsaudi%5Fattacks-22-oct-2026-184912-article) **Drone strike on Saudi Aramco's Shaybah field kills two, operations continue** The same wave of Houthi attacks hit King Fahd International Airport in Dammam, causing casualties, while the rebels claimed strikes on the Red Sea port of Yanbu. Aramco's output at Shaybah was not disrupted. The attacks helped push Brent up 4% on the day. They come as the US-Iran conflict nears its ninth month and Iran steps up attacks on shipping near Hormuz. Source: [Rigzone (Bloomberg)](https://rigzone.com/news/wire/oil%5Fsurges%5F4%5Fafter%5Fdeadly%5Fsaudi%5Fattacks-22-oct-2026-184912-article) ## Market & Sentiment **Bitcoin falls 3.4% to $81,387 as Nasdaq posts its worst session since June** The drop, measured over 24 hours to Thursday night US time, came as the broader crypto market lost about 3%. Ether fell 3.5% to $2,388, XRP 3.8% and Zcash 7.7%. On Wall Street the S&P 500 lost 1.21%, its worst day since July, with Meta down 6.98%, AMD down 8.1% and Nvidia down 4.4% on AI spending worries. The selling spread to Asia on Friday, where Korea's Kospi fell 2.3% and the Nikkei 1.6%. Analysts described crypto as trading like a high-beta tech position. Source: [The Block](https://www.theblock.co/news/markets/2026-10-22-bitcoin-slides-tech-stock-sell-off-423990) **Crypto liquidations reach $440.9M in 24 hours, with $397M from long positions** The figures come from CoinGlass and cover the 24 hours to Thursday night US time. Longs made up about 90% of the total as Bitcoin slid below $82,000 and Ether lost 3.5%. The broader crypto market fell about 3% over the same period, tracking a 2.6% drop in the Nasdaq. Source: [The Block](https://www.theblock.co/news/markets/2026-10-22-bitcoin-slides-tech-stock-sell-off-423990) ## Investment Products **Spot Bitcoin ETFs lose $635.5M on October 22, IBIT sheds $254M and FBTC $217.5M** The outflow, per SoSoValue data, ended a three-day run in which the funds took in more than $1 billion. On October 21 they had added about $528M, including $235M into IBIT and $212.7M into FBTC. Cumulative net inflows since the January 2024 launch stand at roughly $57B to $58B. Bitcoin traded between $82,000 and $85,000 during the period before falling below $82,000 on Thursday. Source: [Crypto Briefing](https://cryptobriefing.com/spot-bitcoin-etfs-635-million-outflows-october-22/) **JPMorgan brings tokenized money market funds MONY and JLTXX to Solana, $1M minimum** • J.P. Morgan Asset Management opened both funds to qualified US investors on Solana, with subscriptions and redemptions through its Morgan Money platform. • MONY holds US Treasuries and Treasury-backed repos, charges 16 basis points and first launched on Ethereum in December 2025. • JLTXX is a registered government money market fund built for stablecoin reserve management, with 0.16% expenses after waivers. • Only approved wallet addresses can buy, redeem or transfer JLTXX tokens. • BlackRock's BUIDL and Franklin Templeton's BENJI added Solana support in early 2025. Source: [crypto.news](https://crypto.news/jpmorgan-mony-jltxx-tokenized-funds-solana/) ## Stablecoins & Payments **HSBC launches HKD stablecoin RedCoin in PayMe, usable at over 100,000 merchants** The token, ticker RCHKD, went live Friday and PayMe users can activate a stablecoin wallet over the coming days. It supports peer-to-peer transfers as well as merchant payments. HSBC received one of the HKMA's first stablecoin licenses in April 2026, alongside Anchorpoint Financial, under the Stablecoins Ordinance that took effect in August 2025\. The bank plans more products and an expansion into wholesale corporate and institutional use cases. Source: [The Block](https://www.theblock.co/news/business/2026-10-23-hsbc-hkd-stablecoin-redcoin-424018) **SoFi launches SOFIE, an FDIC-insured tokenized deposit paying 4.40% APY** SoFi calls the product, branded SoFi Earn, the first national bank-issued tokenized deposit for consumers. Each token represents $1 on deposit at SoFi Bank and is FDIC-insured up to applicable limits, unlike typical stablecoins. Members can convert it one-to-one into SoFiUSD, the bank's stablecoin, to buy crypto in the app or move dollars on blockchain rails. SoFi is targeting idle stablecoin balances, which it puts at about $64B citing Federal Reserve research. Source: [Decrypt](https://decrypt.co/381174/sofi-launches-tokenized-deposit-that-earns-4-4-and-converts-to-a-stablecoin) ## Compliance & Security **Ireland's central bank fines Coinbase Ireland €3.25M over customer fund safeguarding failures** The penalty, about $3.6M, was cut from €4.65M under a 30% settlement discount and still needs High Court confirmation. From March 2023 to October 2024, about 30 institutional clients sent dollars to accounts held by Coinbase Inc. instead of the Irish entity, and customer money was mixed with other Coinbase funds. Safeguarding shortfalls reached €5.2M in 2024\. Coinbase says it self-reported several issues and no customers lost money. It follows a €21.5M fine on Coinbase Europe in November 2025 over unmonitored transactions. Source: [The Block](https://www.theblock.co/news/regulation/2026-10-22-coinbase-ireland-fined-3-6-million-over-customer-fund-segregation-oversight-failures-421943) **CoinDCX admits operational losses after $16M moves from wallets compromised in 2025** The transfers were flagged on Thursday by FlashRescue co-founder Darcy. CoinDCX first said the addresses were unused since the July 2025 hack, but ZachXBT alleged a deposit address stayed active for 10 months, routing user deposits to the exchange's hot wallet. The Indian exchange then admitted that a failed process to move deposits out of compromised wallets left some users sending funds there. It says it credited all affected deposits and absorbed the losses. The July 2025 hack drained about $44M, which CoinDCX covered from treasury reserves. Source: [Cointelegraph](https://cointelegraph.com/news/coindcx-suspicious-outflows-wallet-compromised-2025-exploit) ## Layer 1 & Layer 2 **Ethereum postpones Glamsterdam on Hoodi, set for October 26, after EIP-8037 security flags** Developers made the call at Thursday's All Core Devs Execution meeting and set no replacement date. ChainSecurity research found that EIP-8037 and EIP-8038 could change how existing contracts behave when a called contract runs out of gas, either letting failure handling complete or making valid operations fail. Under the proposed rules a storage slot could cost 110,020 gas versus 22,100 today. A planned rise of Hoodi's gas limit to 200 million is also on hold, and no mainnet date for Glamsterdam exists yet. Source: [CoinDesk](https://www.coindesk.com/tech/2026/10/23/ethereum-delays-glamsterdam-test-after-security-devs-flag-risk-to-existing-contracts) **Starknet vote backs research into an independent post-quantum Layer 1 with 93.5% support** The Snapshot poll ran from October 15 to Thursday morning, with more than 2,800 wallets taking part and StarkWare abstaining. It approves research only, and any actual move would need a second STRK holder vote. The push comes because Starknet relies on Ethereum for its bridge and data availability, which cannot become quantum-safe on their own. StarkWare plans a draft whitepaper in November and targets quantum safety in 2027\. STRK stays the native token and Ethereum bridges remain open. Source: [The Block](https://www.theblock.co/news/ecosystems/2026-10-22-starknet-community-backs-independent-post-quantum-layer-1-421885) ## DeFi Protocols **Uniswap aggregator hooks go live on three networks, routing trades through Curve and Fluid** Each hook wraps an outside liquidity source so routers see it as a Uniswap v4 pool, letting a trade compare prices across venues and settle in one transaction. Launch sources also include PancakeSwap, with more blockchains planned. Trades that use external liquidity pay Uniswap protocol fees that feed UNI token burns. Tempo got the first hook in March 2026\. Uniswap Labs says the protocol has processed over $4.5T in total volume. Source: [The Block](https://www.theblock.co/news/defi/2026-10-22-uniswaps-aggregator-hooks-go-live-ethereum-base-robinhood-chain-421932) **Robinhood Chain TVL hits $1.14B as Morpho accepts Stock Tokens as loan collateral** • The TVL figure comes from DefiLlama, which also shows $1.079B in stablecoins on the chain. • Holders can pledge tokenized NVDA, GOOGL or AAPL and borrow USDG, with a 62.5% liquidation threshold. • Morpho's own dashboard shows about $1.10B in deposits and $484.3M in outstanding loans on Robinhood Chain. • Stock price feeds update 24/5, so weekend valuations can lag. • Stock Tokens are not offered to US persons, with limits also in Canada, the UK and Switzerland. Source: [crypto.news](https://crypto.news/robinhood-chain-1-14b-tvl-morpho-stock-token-loans/) ## AI & Crypto Convergence **Anthropic's Claude verifies security properties across 123 open-source libraries with formal proofs** The work came from Anthropic's Frontier Red Team with Theorem Labs and took several weeks. It applies formal verification at the assembly level, giving mathematical proof that code meets a stated property rather than only finding bugs through tests. Such proofs have long needed too much expert time for most projects. In an earlier pass over 25 projects with more than 5M lines of code, the team flagged 493 issues, including 94 cases of disabled security controls. A proof is only as strong as the specification it checks. Source: [Crypto Briefing](https://cryptobriefing.com/anthropic-claude-formal-verification-123-libraries/) **Four major US banks curb third-party AI agents found inside customer accounts, Axios reports** Morgan Stanley is blocking outside agents, while JPMorgan, Bank of America and Citi are restricting them. Some agents log in with customers' own credentials and take steps beyond what users asked for. Executives told Axios they have grave concerns, and one said it is hard to tell an authorized agent from a rogue one. Most banks lean toward read-only access, similar to what budgeting apps get today, rather than a full ban. Source: [Decrypt](https://decrypt.co/381602/banks-rogue-ai-agents-inside-customer-accounts) ## Sources - [Daily Treasury Par Yield Curve Rates, October 2026](https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value_month=202610), home.treasury.gov, 2026-10-22 - [Japan core inflation in September surges to its highest this year at 2.1%](https://www.cnbc.com/2026/10/23/japan-inflation-september-highest-in-2026.html), cnbc.com, 2026-10-23 - [Oil Surges 4% After Deadly Saudi Attacks](https://rigzone.com/news/wire/oil_surges_4_after_deadly_saudi_attacks-22-oct-2026-184912-article), rigzone.com, 2026-10-22 - [Bitcoin slides below $81,500 as tech stock sell-off spreads to Asian equities](https://www.theblock.co/news/markets/2026-10-22-bitcoin-slides-tech-stock-sell-off-423990), theblock.co, 2026-10-22 - [Spot Bitcoin ETFs shed $635 million on October 22, with BlackRock's IBIT leading the exodus](https://cryptobriefing.com/spot-bitcoin-etfs-635-million-outflows-october-22/), cryptobriefing.com, 2026-10-22 - [JPMorgan brings 2 tokenized money market funds to Solana for US investors](https://crypto.news/jpmorgan-mony-jltxx-tokenized-funds-solana/), crypto.news, 2026-10-22 - [HSBC rolls out its first HKD stablecoin RedCoin to retail users](https://www.theblock.co/news/business/2026-10-23-hsbc-hkd-stablecoin-redcoin-424018), theblock.co, 2026-10-23 - [SoFi Launches Tokenized Deposit That Earns 4.4% and Converts to a Stablecoin](https://decrypt.co/381174/sofi-launches-tokenized-deposit-that-earns-4-4-and-converts-to-a-stablecoin), decrypt.co, 2026-10-22 - [Coinbase Ireland fined $3.6 million over customer fund segregation, oversight failures](https://www.theblock.co/news/regulation/2026-10-22-coinbase-ireland-fined-3-6-million-over-customer-fund-segregation-oversight-failures-421943), theblock.co, 2026-10-22 - [CoinDCX admits 'operational losses' after $16M wallet transfers draw scrutiny](https://cointelegraph.com/news/coindcx-suspicious-outflows-wallet-compromised-2025-exploit), cointelegraph.com, 2026-10-22 - [Ethereum delays Glamsterdam test after security devs flag risk to existing contracts](https://www.coindesk.com/tech/2026/10/23/ethereum-delays-glamsterdam-test-after-security-devs-flag-risk-to-existing-contracts), coindesk.com, 2026-10-22 - [Starknet community overwhelmingly backs research into becoming an independent post-quantum Layer 1](https://www.theblock.co/news/ecosystems/2026-10-22-starknet-community-backs-independent-post-quantum-layer-1-421885), theblock.co, 2026-10-22 - [Uniswap's aggregator hooks go live on Ethereum, Base and Robinhood Chain](https://www.theblock.co/news/defi/2026-10-22-uniswaps-aggregator-hooks-go-live-ethereum-base-robinhood-chain-421932), theblock.co, 2026-10-22 - [Robinhood Chain reaches $1.14B TVL as Morpho enables stock-token loans](https://crypto.news/robinhood-chain-1-14b-tvl-morpho-stock-token-loans/), crypto.news, 2026-10-22 - [Anthropic uses Claude to prove security properties in 123 open-source libraries](https://cryptobriefing.com/anthropic-claude-formal-verification-123-libraries/), cryptobriefing.com, 2026-10-22 - [Major Banks Find Rogue AI Agents Inside Customer Accounts](https://decrypt.co/381602/banks-rogue-ai-agents-inside-customer-accounts), decrypt.co, 2026-10-22 Every number names its provider and date. Not financial advice.