It’s not just California’s billionaire tax. Wealth is on the ballot in the midterm elections.

The Bitcoin treasury company could acquire an estimated 7,372 BTC with its net proceeds, potentially surpassing Metaplanet’s holdings if it allocates the full amount.

Wall Street is fleeing tech for toothpaste and shampoo. Even those stocks are getting expensive.

Oct 20, 2026, 1:02 p.m. EDT5 min readBlockTower Capital founder Ari Paul publicly accused Coinbase of losing roughly $25 million of his firm's assets and concealing hacks totaling more than $1 billion across a dozen institutions. Coinbase flatly denies it, Paul says active litigation prevents him from publishing his evidence, and the industry has spent the weeks since arguing about who is telling the truth. The argument misses the most uncomfortable fact in the story: nobody outside the two parties involved can check. That is a strange place to land for an industry built on an asset designed so that no one would have to take anyone's word for anything. A custodian holding assets for much of the market stands accused of billion-dollar concealment, and the only tools available for evaluating the claim are the accuser's credibility and the custodian's word.

Blockchain network Injective has entered into a memorandum of understanding with South Korean digital asset custodian BDACS to bring a won-backed stablecoin to its tokenized asset markets, potentially allowing institutions to settle transactions without relying on US dollar stablecoins. According to a Tuesday announcement, BDACS’s KRW1 stablecoin would serve as the exclusive won-denominated settlement asset for real-world assets (RWAs) on Injective, allowing institutions to trade and settle tokenized assets directly in Korean won. BDACS says KRW1 is fully backed by Korean won reserves. Minting and redemption would initially be limited to approved institutional partners, subject to regulatory approval. The agreement comes as South Korea develops rules for won-backed stablecoins under its proposed Digital Asset Basic Act, which the government aims to finalize by the end of 2026. In the meantime, the country’s five largest crypto exchanges recorded net stablecoin outflows for 18 consecutive months through June, according to industry data cited by Cointelegraph. Injective is a layer-1 blockchain that has increasingly focused on tokenized assets.

Stablecoins moved more than $400 million an hour in adjusted transfer volume during the third quarter of 2026, as quarterly activity reached $891 billion, more than quadrupling since early 2023, according to a new report commissioned by Coinbase. The report found that 73% of screened stablecoin transfer volume occurred outside US banking hours, including nights, weekends and holidays. Distribution of stablecoin transfer volume by time of day. Source: Coinbase and The Block Research, via Dune AnalyticsSeven of the 10 largest US banks have tested stablecoins or tokenized deposits for settlement, while 30% of mid-market companies conducting cross-border business are using or piloting stablecoins, up from 10% in 2024. Business-to-business payment volume also rose 36% year over year. Conducted by The Block Research, the findings identified 293 million blockchain addresses holding stablecoins, exceeding the combined number of cards issued by American Express and Discover, though researchers cautioned that addresses do not necessarily represent individual users.

More companies are formally objecting to having tokenized versions of their shares available on the stock platform proposed by cryptocurrency exchange OKX and the New York Stock Exchange’s parent, the Intercontinental Exchange. In a notice updated Monday, the joint venture between OKX and the Intercontinental Exchange (ICE), called OKXICE, reported receiving 16 notices of issuer objection from companies including Microsoft, Google’s parent company Alphabet and Goldman Sachs. The objections did not include specific reasons for the notice to OKX, but one expert told Cointelegraph that they could relate to “not knowing what happens to their price” on the proposed platform. Speaking to Cointelegraph on Tuesday, OKXICE co-chair and former New York Governor Andrew Cuomo said that these notices were “not objections,” citing the Securities and Exchange Commission (SEC) “opening up to a global 24/7 marketplace.” He characterized objections as some companies standing on the side of a pool while letting others jump in and test the waters for OKXICE’s tokenized stock model.