Investor Bo Shen Offers Bounty in Recovering $42 Million in Stolen Crypto Assets

Six finalist projects, including stablecoin, DePIN, and robo-advisor teams, presented at Ignition Demo Day during Token2049 week in Singapore. Projects like Azza, Home Harvest, and DeCharge showcased innovative solutions in front of VCs and judges.

Tim Draper, a prominent Bitcoin advocate, envisions a future where retailers exclusively accept Bitcoin as payment. Draper's $19 million Bitcoin purchase in 2014, now valued at $3.5 billion, solidifies his influence in the crypto sector. His venture firm, Draper Associates, focuses heavily on crypto investments.

Société Générale has integrated its stablecoins with DeFi, allowing institutional customers to borrow and lend through Morpho. This move reflects banks' increasing comfort with digital assets due to evolving crypto regulations.

The U.S. SEC issued a "no action" letter to DoubleZero, approving its 2Z token launch on Solana. This decision signifies a shift in the SEC's approach to token classification, providing clarity for projects like DoubleZero.

Turkish lawmakers are considering legislation to grant expanded authority to the financial crimes watchdog, allowing it to freeze bank and crypto accounts suspected of illegal activities. The proposed bill aims to empower Masak to take direct action against accounts involved in criminal activities across financial institutions and cryptocurrency platforms.

Benchmark Company raised Bakkt Holdings' one-year price target to $40, citing growth potential in its crypto infrastructure, stablecoin payments, and Bitcoin treasury. The stock surged 17% on Tuesday, reflecting newfound attention and the CEO's strategic moves since August.

Crypto wallet Phantom has introduced Phantom Cash, a consumer payments service powered by Bridge's CASH stablecoin and Visa-backed payment integration. The product enables instant funding, fee-free crypto transactions, Visa payments via Apple Pay or Google Pay, and peer-to-peer money transfers. Open Issuance by Stripe allows businesses to create and manage stablecoins easily. Phantom Cash transforms Phantom's wallet into a money app with various payment options and stablecoin support.

Robinhood's stock surged to a new high after reports of plans to expand its prediction market product globally. The company's stock price reached close to $140 per share, up 275% year-to-date, following news of potential expansion to European markets.

Bitcoin and Ethereum are relatively stable as Congress faces a deadline to approve a funding bill to prevent a U.S. government shutdown. Despite some pessimism among Bitcoin traders due to political uncertainty, some experts view any potential market dip as a buying opportunity.

Bitcoin's Core v30 update in October has reignited a debate over raising the OP_RETURN limit for larger non-payment data in transactions. Supporters argue for cleaner data attachment, while critics fear abuse and deviation from Bitcoin's core purpose.