United Airlines CEO Calls for New Taxes on Wealth and Inheritances: What That Would Mean for Your Money

Several states are dealing with ballot measures tied to taxing the rich — and there may be even more initiatives on this front in 2028.

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.

Bitcoin (BTC) returned to $83,000 after Tuesday’s Wall Street open as US stocks gained on strong earnings reports. Key points:Bitcoin gained up to 1.5%, joining upside in US stocks on the back of some higher-than-expected Q3 earnings results. Oil prices hit $101 per barrel early on Tuesday before dropping nearly 5% in hours as equities gained. BTC price action sought to challenge the 21-day simple moving average (SMA) at $83,230. BTC price swings as US earnings, oil moves drive marketsData from TradingView showed BTC/USD gaining 1.5% to reach its highest levels since Oct. 14 before dropping back toward $82,000. BTC/USD one-hour chart. Source: Cointelegraph/TradingViewCrypto joined US stock markets in rallying as Q3 earnings reports beat expectations. Both General Motors and industrial conglomerate 3M beat earnings expectations, while the latter also increased its profit forecast. The Dow Jones Industrial Average gained 1.2% on the back of the results to hit levels last seen on Sept. 14. Meanwhile, the S&P 500 and tech-heavy Nasdaq Composite Index traded up 0.6% and 0.5% at the time of writing. Dow Jones Industrial Average one-day chart.

Shopify Inc.’s SHOP-T chief technical officer Mikhail Parakhin is departing the e-commerce giant after two years. Mr. Parakhin joined Shopify in 2024 to oversee the company’s engineering and data organizations, and to “push Shopify to the cutting edge” in machine learning and artificial intelligence adoption, the Ottawa-based company said in a release when he first joined. Since then, Shopify has embraced agentic AI to help its merchants sell products to customers via chatbot, a step which industry analysts have said has the potential to reshape the future of online shopping and advertising. Agentic AI refers to AI systems that can make decisions and use external tools with limited human supervision or instruction. Shopify confirmed Mr. Parakhin’s departure in a statement Tuesday morning. The company did not say when Mr. Parakhin is leaving or provide a reason for his exit. “Mikhail has left an indelible mark on the company and has helped us level up in engineering and machine learning. As he leaves, we’re grateful for his contributions and glad that he’ll continue as an adviser,” Shopify spokesperson Rebecca Feigelsohn said in an e-mail. Mr.