Crypto news. Royal judgement.
Circle asks for different stablecoin treatment, Strategy reports a quarter dominated by digital-asset gains, and Kraken adds commodities to its trading simulator. Three afternoon reads, with proposals, accounting and actual ownership kept apart.
Before celebrating a very large number, I like to establish whether I can spend it, hold it or merely admire it on a screen.
Circle's 28 October policy post asks the SEC to treat qualifying payment stablecoins as cash under proposed crypto-offering rules and reduce their broker-dealer capital haircut from 2% to zero, subject to safeguards. The post describes comments submitted on 20 October; it is a request, not an approved change.
Strategy's 29 October results reported $20.91 billion of third-quarter operating income, including $20.91 billion of digital-asset gains. Revenue was $125.4 million, down 3% year on year. The company also announced that CFO Andrew Kang will step down on 5 November.
Kraken announced six commodity markets for Kraken Prop on 29 October, including gold, silver and oil. Its description makes a crucial distinction: participants provide trade signals and hold simulated positions. Payouts can be real, but the displayed position limits are not assets handed to the trader.
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