# 24H Web3 News Recap #563 Web3 News Recap, edition 563. Published 2026-10-28. 8 min read. Canonical page: https://www.w3match.com/reports/recap-2026-10-28 Top stories: Brent hits $115 as Houthis claim Saudi refinery strike; Datavault AI falls 49.6%, cannot withdraw its Bitcoin; Galaxy Digital posts $323M Q3 profit, $200M buyback. ## Key numbers - **Fear & Greed Index:** 51/100 (alternative.me, 2026-10-28; Neutral, 48 yesterday) ## Geopolitics & Macro **Brent climbs 1.3% to $115.36 after Houthis claim a strike on Saudi Arabia's largest refinery** The gain came in early Asian trading on Wednesday, with WTI up 1.22% to $101.12 as of 0140 GMT. The Houthis said they hit the 550,000 barrels per day Ras Tanura refinery, but Saudi authorities did not confirm the strike. Saudi officials said they intercepted ballistic missiles and drones aimed at the Eastern Province and Riyadh. Both benchmarks had fallen nearly $2 on Tuesday on hopes for regional talks. Source: [Reuters (Business Recorder)](https://www.brecorder.com/news/40446270/oil-prices-rise-after-attack-on-saudi-arabian-refinery-reignites-supply-concerns) **Bessent says over 90% of stablecoins are dollar-backed, calls them a Treasury funding source** Treasury Secretary Scott Bessent spoke on Tuesday at Ripple's Swell conference alongside CEO Brad Garlinghouse. He said dollar stablecoins are "gonna be an important source of funding for the Treasury" and are opening new markets around the world. He described US influence as shifting from a military umbrella toward a technology umbrella. Source: [CoinDesk](https://www.coindesk.com/policy/2026/10/27/treasury-s-bessent-sees-crypto-as-america-s-next-tool-for-keeping-the-u-s-dollar-on-top) ## Market & Sentiment **Bitcoin nears $81,000 ahead of the Fed decision as Zcash jumps 8% to $1,320** BTC rose about 2% in Asian morning hours on Wednesday after a weekend low near $79,000\. Ether gained 2% to just above $2,350, HYPE about 5% to $81 and SOL about 2% to $102\. Traders are watching Chair Kevin Warsh's press conference later on Wednesday for hints of a December rate hike. A daily close above $82,500 is the level analysts cite for a stronger recovery. Source: [CoinDesk](https://www.coindesk.com/markets/2026/10/28/bitcoin-nears-usd81-000-ahead-of-fed-decision-as-zec-jumps-8) **Datavault AI shares fall 49.6% after it says it cannot withdraw Bitcoin from Biconomy** • DVLT closed Tuesday at $0.067 on about 244 million shares traded. • Scilex credited 1,309.04 BTC to Datavault's Biconomy account under a September 2025 deal to buy $150M of Datavault shares and warrants. • Datavault could not withdraw the bitcoin to an external account in June 2026, and the transfer is still incomplete. • Datavault will cut reported assets by $92.2M at end-2025 and $49M as of June 2026, booking the bitcoin as an amount Scilex owes. Source: [CoinDesk](https://www.coindesk.com/markets/2026/10/28/bitcoin-treasury-datavault-ai-plunges-50-after-firm-says-it-can-t-access-its-btc) ## Institutional Moves **Galaxy Digital posts $323M Q3 profit and approves a new $200M share buyback** The result compares with an $85M loss in Q2 and a $505M profit a year earlier. Adjusted gross profit reached $569M and adjusted EBITDA $455M. Assets under management and stake grew 46% from June to $10.4B, and the average loan book rose 27% to $1.8B. The board authorized the new buyback on October 26 after Galaxy completed its previous $200M program on October 15. Source: [The Block](https://www.theblock.co/news/business/2026-10-27-galaxy-digital-323-million-quarterly-profit-new-200-million-share-buyback-431860) **Robinhood crypto revenue rises 20% to $120M, with $26M from Robinhood Chain** • Robinhood Chain launched on July 1 and processed over $80B in DEX volume in its first quarter. • Excluding the chain, crypto transaction revenue fell 6% from Q2 to $94M, and total crypto revenue is down 55% year over year. • Event contracts revenue reached $173M, up 11% from Q2, including $28M from Rothera, its exchange with Susquehanna. • Net income fell 14% to $476M, and HOOD dropped 5.5% after hours to $89.22. Source: [The Block](https://www.theblock.co/news/business/2026-10-27-robinhood-chain-brings-in-26-million-crypto-revenue-rises-20-q2-431935) ## Regulatory Developments **CFTC sues Utah to block action against Kalshi, its tenth lawsuit against a state** The suit, filed in the US District Court for the District of Utah, names the state and Attorney General Derek Brown. Utah had earlier sued Kalshi, calling its sports and election contracts illegal gambling and a public nuisance. The CFTC argues prediction markets fall under its exclusive federal jurisdiction. Its nine earlier suits targeted Arizona, Connecticut, Illinois, New York, Wisconsin, Minnesota, Rhode Island, New Mexico and Kentucky. Source: [The Block](https://www.theblock.co/news/regulation/2026-10-27-cftc-sues-utah-battle-over-prediction-market-regulation-intensifies-431922) **CFTC reopens a probe into whether Polymarket broke its $1.4M 2022 settlement, Reuters reports** Under the January 2022 settlement, Polymarket agreed to block US users from its offshore exchange after offering unregistered event contracts. Investigators are now examining its location controls, advertising inside the US and onboarding on its US platform, which launched late last year. The CFTC had closed a similar inquiry in 2025 without charges. Source: [Bitcoin Magazine](https://bitcoinmagazine.com/news/cftc-reopens-questions-about-polymarkets) ## Stablecoins & Payments **Robinhood plans to bring Ripple's $2.5B RLUSD stablecoin to its app by year-end** • Robinhood had 28.6 million funded customers at the end of August. • Bitstamp, bought by Robinhood for $200M, will settle with RLUSD on the XRP Ledger. • Robinhood will adopt Ripple's treasury software for cash management, payments and forecasting. • Robinhood also backs the rival USDG stablecoin through the Global Dollar Network and has not changed that arrangement. Source: [CoinDesk](https://www.coindesk.com/business/2026/10/27/ripple-s-rlusd-stablecoin-is-coming-to-robinhood-s-28-6-million-customer-platform) **USDC takes 56% of euro stablecoin trading, up from 10% in January 2024, Kaiko shows** Kaiko data shows USDC's euro order books are about 40% deeper than USDT's, even though USDT's global supply is roughly 2.5 times larger. Major exchanges restricted USDT for European customers under MiCA, which sped up the shift. About two weeks earlier, the European Banking Authority named USDC the EU's first significant e-money token, placing it under direct EBA supervision. Source: [Cointelegraph](https://cointelegraph.com/news/usdc-overtakes-usdt-euro-stablecoin-trading-mica-kaiko) ## RWA & Tokenization **Janus Henderson and Centrifuge launch JQQQ, a tokenized Nasdaq-100 fund on Stellar, $100,000 minimum** The fund tracks the Nasdaq-100 under a licensing deal with the exchange and gives indirect exposure through a segregated portfolio of a British Virgin Islands company. It is open only to professional investors outside the US. Janus Henderson says its institutional onchain strategies already exceed $1B. Stellar holds about $3.8B in tokenized assets, fourth by distributed RWA value per RWA.xyz. Source: [Cointelegraph](https://cointelegraph.com/news/janus-henderson-centrifuge-launch-tokenized-nasdaq-100-fund-on-stellar) **DBS survey finds 88% of 422 large firms use or pilot tokenized money** • DBS polled 422 business and finance leaders in 11 markets, including the US, UK, China and Germany, in June and July. • Each respondent's company has annual revenue above $500M. • About two-thirds have moved past testing to live use in some locations. • Stablecoins are used by 63%, tokenized deposits by 53% and tokenized money market funds by 52%. Source: [Crypto Briefing](https://cryptobriefing.com/dbs-survey-businesses-tokenised-money/) ## Security & Exploits **Bithumb reports an employee system breach as Daishin Securities leaks 38,490 customers' data** Bithumb found the intrusion on Tuesday in the internal mobile system staff use for work and messaging, and personal information was taken. The exchange says the system is separate from trading, so customer crypto cannot be reached through it, and it is still checking whether member data was involved. Daishin Securities lost personal and credit data in a separate outside attack. South Korea's Financial Supervisory Service counted cyberattacks on 16 financial firms as of October 14. Source: [CoinDesk](https://www.coindesk.com/tech/2026/10/28/bithumb-hacked-through-employee-system-as-south-korean-financial-firms-face-cyberattacks) **Predict.fun pledges full refunds after about 400,000 USDT is stolen from users** The prediction market on BNB Chain said a small number of users lost funds. A preliminary probe points to its API documentation site, hosted by a third-party provider, which may have been compromised for a short period. The site is offline with no restore date, and the team promised a full post-mortem after the investigation. Source: [crypto.news](https://crypto.news/predict-fun-400000-usdt-theft-refunds/) ## Investment Products **Crypto.com and OG.com launch perpetual futures for eligible US traders, offering up to 5x** The contracts have no expiry and trade around the clock in the Crypto.com App and Exchange. They run through OG.com's CFTC-regulated exchange, clearinghouse and futures commission merchant. Crypto.com registered with the NFA as an introducing broker for the product. Eligibility rules for traders were not disclosed. Source: [The Block](https://www.theblock.co/news/markets/2026-10-27-crypto-com-og-com-launch-us-crypto-perps-up-to-5x-leverage-431902) **VanEck launches WBMO, a 0.26% fee ETF allowing up to 25% in digital asset ETPs** WBMO lists on NYSE Arca as an actively managed mix of global stocks, bonds and real assets including gold. Bitcoin exposure comes through digital asset ETPs held in a Cayman subsidiary, capped at 25% of assets at each quarter-end. The 0.26% net fee includes a 0.07% waiver on the 0.33% gross ratio. VanEck reported $244.1B in assets under management as of September 30. Source: [crypto.news](https://crypto.news/vaneck-wealth-builder-etf-bitcoin-exposure/) ## AI & Crypto Convergence **Anthropic cuts Claude prices 40% for US agencies under an expanded GSA deal** The expanded OneGov deal replaces the $1 nominal fee per agency with token-based pricing on all Claude models. Federal, state, local and tribal governments can buy directly or through resellers with no minimum order. OpenAI's GSA deal from September offers 50% off through December 2028\. GSA says OneGov has saved over $1.8B, about $1.6B from AI contracts. Source: [Crypto Briefing](https://cryptobriefing.com/anthropic-gsa-claude-40-percent-discount/) **Luxor raises $16M led by CMT Digital to expand its AI hardware business** • Canaan, MicroBT, Halo and Steelhead also joined the strategic round, which mixes primary and secondary equity. • Funds go to GPU and AI server sourcing, the Luxor Cloud platform and compute derivatives trading. • Luxor had raised only $6.575M in primary capital before, with its last priced round in 2021. • Headcount grew from 11 in 2021 to 106, and its hardware desk has traded over $1B in mining equipment. Source: [The Block](https://www.theblock.co/news/deals/2026-10-27-bitcoin-mining-ai-luxor-technology-funding-431858) ## Sources - [Oil prices rise after attack on Saudi Arabian refinery reignites supply concerns](https://www.brecorder.com/news/40446270/oil-prices-rise-after-attack-on-saudi-arabian-refinery-reignites-supply-concerns), brecorder.com, 2026-10-28 - [Treasury's Bessent sees crypto as America's next tool for keeping the U.S. dollar on top](https://www.coindesk.com/policy/2026/10/27/treasury-s-bessent-sees-crypto-as-america-s-next-tool-for-keeping-the-u-s-dollar-on-top), coindesk.com, 2026-10-27 - [Bitcoin nears $81,000 ahead of Fed decision as ZEC jumps 8%](https://www.coindesk.com/markets/2026/10/28/bitcoin-nears-usd81-000-ahead-of-fed-decision-as-zec-jumps-8), coindesk.com, 2026-10-28 - [Bitcoin treasury Datavault AI plunges 50% after firm says it can't access its BTC](https://www.coindesk.com/markets/2026/10/28/bitcoin-treasury-datavault-ai-plunges-50-after-firm-says-it-can-t-access-its-btc), coindesk.com, 2026-10-27 - [Galaxy Digital swings to $323 million quarterly profit, announces new $200 million share buyback](https://www.theblock.co/news/business/2026-10-27-galaxy-digital-323-million-quarterly-profit-new-200-million-share-buyback-431860), theblock.co, 2026-10-27 - [Robinhood Chain brings in $26 million as crypto revenue rises 20% in Q3](https://www.theblock.co/news/business/2026-10-27-robinhood-chain-brings-in-26-million-crypto-revenue-rises-20-q2-431935), theblock.co, 2026-10-27 - [CFTC sues Utah as battle over prediction market regulation intensifies](https://www.theblock.co/news/regulation/2026-10-27-cftc-sues-utah-battle-over-prediction-market-regulation-intensifies-431922), theblock.co, 2026-10-27 - [CFTC Again Probes Polymarket Over Whether It Let Americans Trade](https://bitcoinmagazine.com/news/cftc-reopens-questions-about-polymarkets), bitcoinmagazine.com, 2026-10-27 - [Ripple's RLUSD stablecoin is coming to Robinhood's 28.6 million customer platform](https://www.coindesk.com/business/2026/10/27/ripple-s-rlusd-stablecoin-is-coming-to-robinhood-s-28-6-million-customer-platform), coindesk.com, 2026-10-27 - [USDC overtakes USDT in euro stablecoin trading as EU rules reshape market: Kaiko](https://cointelegraph.com/news/usdc-overtakes-usdt-euro-stablecoin-trading-mica-kaiko), cointelegraph.com, 2026-10-27 - [Janus Henderson, Centrifuge launch tokenized Nasdaq-100 fund on Stellar](https://cointelegraph.com/news/janus-henderson-centrifuge-launch-tokenized-nasdaq-100-fund-on-stellar), cointelegraph.com, 2026-10-27 - [DBS survey finds 88% of large businesses are using or piloting tokenised money](https://cryptobriefing.com/dbs-survey-businesses-tokenised-money/), cryptobriefing.com, 2026-10-27 - [Bithumb hacked through employee system as South Korean financial firms face cyberattacks](https://www.coindesk.com/tech/2026/10/28/bithumb-hacked-through-employee-system-as-south-korean-financial-firms-face-cyberattacks), coindesk.com, 2026-10-28 - [Predict.fun confirms 400,000 USDT theft, promises full refunds](https://crypto.news/predict-fun-400000-usdt-theft-refunds/), crypto.news, 2026-10-27 - [Crypto.com and OG.com launch US crypto perps with up to 5x leverage](https://www.theblock.co/news/markets/2026-10-27-crypto-com-og-com-launch-us-crypto-perps-up-to-5x-leverage-431902), theblock.co, 2026-10-27 - [VanEck launches Wealth Builder ETF with bitcoin exposure at 0.26% fee](https://crypto.news/vaneck-wealth-builder-etf-bitcoin-exposure/), crypto.news, 2026-10-27 - [Anthropic expands GSA partnership with 40% markdown on Claude products](https://cryptobriefing.com/anthropic-gsa-claude-40-percent-discount/), cryptobriefing.com, 2026-10-27 - [Bitcoin mining infrastructure firm Luxor raises $16 million to expand AI business](https://www.theblock.co/news/deals/2026-10-27-bitcoin-mining-ai-luxor-technology-funding-431858), theblock.co, 2026-10-27 Every number names its provider and date. Not financial advice.