News/Daily Market Wrap | Oct. 31

Daily Market Wrap | Oct. 31

Oct 31,2025,19:02

Hot Topics

  • IQ and Frax launch KRWQ, first Korean won-pegged stablecoin on Base, multichain via LayerZero, not yet available in Korea.
  • Hong Kong’s SFC monitors digital asset treasuries, warns of high stock premiums, and plans investor education and potential guidelines.
  • JPMorgan debuts Kinexys Fund Flow for real-time private fund settlement via blockchain, completing first transaction with Citco, extending its tokenization efforts.
  • Bitcoin trades at $109K amid fading U.S. ETF inflows and Powell's hawkish tone after the Fed's rate cut, while Solana drops 8% despite new spot ETF launches.

Market Updates

  • dYdX plans U.S. entry by end-2025 with spot trading and 50-65 bps fees, but perpetual futures remain barred pending regulatory changes.
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