1. OKX Raises Additional Investment at $25 Billion Valuation
Cryptocurrency exchange OKX has raised new investment at a valuation of $25 billion (approximately 33 trillion won). Participants in this round include Circle, Ripple, Standard Chartered's SC Ventures, and Cube Research & Technologies (QRT), though the specific investment amount has not been disclosed. This investment is reported to be a follow-up to the approximately $200 million investment made by Intercontinental Exchange (ICE) at the same valuation in March. OKX stated it plans to use the secured funds to strengthen long-term market infrastructure.
2. Winklevoss Files S-1 for Zcash Spot ETF
Winklevoss Asset Services submitted an S-1 registration statement for a Zcash (ZEC) spot ETF to the U.S. Securities and Exchange Commission (SEC) on October 6. The proposed fund aims to hold ZEC directly and list on Nasdaq under the ticker 'WINK'. According to the filing, Gemini Trust will custody the fund's ZEC, and the annual management fee is set at 0.25%. The Winklevoss Capital Fund indicated an intention to purchase up to $100 million worth of shares through an affiliate, but this is not a binding commitment, and the securities cannot be sold before the filing becomes effective.
3. Coinbase Launches Virtual Asset Price Prediction Products
Coinbase announced via its official X account on October 7 the launch of a product for predicting the price direction of virtual assets. Users can select a target virtual asset and prediction period, then trade based on whether they predict the price will rise or fall. The company noted that this market is available on the Coinbase platform. Futures and swap services are provided by Coinbase Financial Markets and are not available in Nevada, USA. The company warned that users may lose the entire amount invested, and payouts are determined by the results of individual events.
4. Circle Mint Begins Supporting Aave Markets
Circle announced that its institutional-only platform, Circle Mint, will now support Aave markets. With this update, eligible Circle Mint customers can deposit Bitcoin (BTC) to mint cirBTC, and then borrow USDC using cirBTC as collateral in third-party lending markets supported on the Arc or Ethereum networks. The borrowed USDC can be received directly into the Circle Mint account.
5. Abstract Decides to End Chain Operations on December 15, 2026
Abstract announced via its official X account on October 7 that it will end chain operations on December 15, 2026. The team explained that growth has stagnated due to a limited DeFi ecosystem, insufficient liquidity, low institutional participation, and a limited budget compared to competitors. Users must migrate their assets via the Migration Hub or native bridge by the termination date; funds not migrated by the deadline will become inaccessible. The team stated it plans to support the migration of Abstract-based projects to other chains.
