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In brief Paxos mistakenly minted 300 trillion PYUSD tokens last week before burning them 24 minutes later in what the company on Wednesday called an “internal technical error” that never left its systems. The Paxos co-founder said “the mistake was entirely ours” and blamed rarely-used manual operational processes designed for “very secure cold minting processes” for the error in the amount minted. The incident comes as Paxos seeks a national trust charter from the OCC under the GENIUS Act, with critics questioning whether the company should receive federal banking authority after the $300 trillion blunder. On Wednesday, Paxos Chief Executive…

Hyperliquid Strategies is doubling down on its Hyperliquid treasury plan, filing papers to raise up to $1 billion to purchase more tokens powering the world’s largest decentralized derivatives platform.According to its S-1 registration statement with the US Securities and Exchange Commission on Wednesday, Hyperliquid Strategies unveiled its plan to offer up to 160 million shares of common stock to fund additional Hyperliquid (HYPE) purchases as well as other corporate expenses.Chardan Capital Markets is serving as its financial adviser for the offering.Source: CointelegraphHyperliquid Strategies is a pending merger entity formed by Nasdaq-listed biotech firm Sonnet BioTherapeutics and special purpose acquisition company Rorschach…

ARK Invest-backed Quantum Solutions has emerged as the largest Ether digital asset treasury outside of the United States after accumulating $9 million worth of ETH in a week. Quantum Solutions’ founder, Francis Zhou, announced the company’s latest Ether (ETH) purchase on Thursday.  “I’m proud to announce that we have accumulated 2,365 ETH in just seven days, officially making Quantum Solutions the largest ETH DAT outside the US,” said Zhou, adding that more Ether buys were coming.The company said it has become Japan’s leading publicly listed Ether DAT and the 11th-largest globally, citing figures from CoinGecko. Quantum Solutions also has a small Bitcoin (BTC)…

WazirX, once India’s largest cryptocurrency exchange by volume, will resume operations on October 24, per an email sent to creditors.That ends more than a year of uncertainty for thousands of creditors left in limbo after one of the most dramatic collapses in the country’s crypto history, which saw over $230 million worth of various tokens getting stolen from the exchange. The restart follows a Singapore High Court–approved restructuring under Zettai Pte. Ltd., WazirX’s parent company, which received near-unanimous backing from creditors earlier this year.That was the final step in a process that began after a massive security breach last year…

The sports betting giant will use the decentralized prediction market as its financial intermediary.DraftKings, one of the leading sports betting platforms in the United States, is entering the prediction markets space and tapping Polymarket Clearing as its official clearing house.Polymarket founder Shayne Coplan made the announcement today via X, where he posted, “Congrats to @DraftKings on their acquisition of @RailbirdHQ. We’re proud for Polymarket Clearing to be their designated clearinghouse as they enter the prediction market space.”Clearing houses act as intermediaries between buyers and sellers within a market, meaning that Polymarket’s infrastructure will serve as the backend for DraftKings’ new…

Debt among Bitcoin miners has increased from $2.1 billion to $12.7 billion in just 12 months as they race to meet demands for artificial intelligence and Bitcoin production, according to investment giant VanEck.Without continued investment in the latest machines, a miner’s share of the global hashrate deteriorates, resulting in a reduced share of the daily awarded Bitcoin (BTC), VanEck analyst Nathan Frankovitz and head of digital assets research, Matthew Sigel, said on Wednesday in their October Bitcoin ChainCheck report.“We refer to this dynamic as the melting ice cube problem. Historically, miners relied on equity markets, not debt, to fund these…

Pi Coin has slipped slightly again, down 1% in the past 24 hours, 4.9% over the past week, and nearly 26% this month. The token has been range-bound for days, showing little enthusiasm from traders.Yet, big wallets haven’t completely walked away. Instead, they appear to be watching for a clearer signal — and that cue might come from the meme coin cycle. Surprised? Well, read on to know how the meme coin connection can impact the Pi Coin price.Sponsored SponsoredMeme Coin Link Meets a Bullish SignalOver the past month, Pi Coin’s price swings have started to mirror those of Dogecoin…

Bitcoin price is hovering in the mid $107,000’s range as analysts from both VanEck and Standard Chartered see more upside. Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, sees a near-term dip in bitcoin price below $100,000 as “inevitable” due to factors like renewed U.S.–China trade tensions.  However, Kenrick views any bitcoin price pullback as likely short-lived and a buying opportunity.  Kendrick highlights gold-to-Bitcoin flows as a key indicator, noting that recent rotations — selling gold to buy Bitcoin — could signal stabilization and mark a bottom.  Despite the volatility, Kendrick remains bullish, maintaining his forecast of $200,000…

In the latest validation of prediction markets, the NHL announced Tuesday that it has struck licensing agreements with both Kalshi and Polymarket.The NHL becomes the first major US sports league to ink an official partnership in the prediction market space.The deal gives Kalshi and Polymarket access to NHL data, rights to the league’s logos, and official partnership designation.Kalshi is already leveraging the relationship, displaying the NHL logo on its app. Without the proper licensing agreements, the company has resisted using official marks of any league; Polymarket stopped using NFL logos on its platform after feeling blowback for displaying them without…

Corporate Bitcoin adoption continues to grow as Strategy (formerly MicroStrategy) recently acquired 168 BTC, further expanding its massive treasury during a period of market turbulence. This move demonstrates the company’s ongoing commitment to institutional Bitcoin accumulation, even amid short-term volatility. Strategy’s Latest Bitcoin Purchase The company purchased 168 BTC for approximately $18.8 million, averaging $112,051 per coin. The acquisition occurred between October 13 and 14, following the market sell-off triggered by the Black Friday crypto crash earlier in the month. With this latest addition, Strategy now holds a total of 640,418 BTC, maintaining an average cost of $74,010 per BTC…