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Quick Take The latest draft of a major market structure crypto bill in the US Senate includes several changes that would codify protections for developers, clarify regulatory treatment of airdrops, exempt DePINs from securities laws, and more. The bill also calls on the SEC and CFTC to establish a joint advisory committee for digital assets, bringing together the regulators which sometimes treat crypto assets differently from each other.
Quick Take Ethena’s native token jumped nearly 12% after StablecoinX, a treasury company associated with the synthetic dollar issuer, secured $530 million to build its ENA war chest. StablecoinX, which plans to list on Nasdaq under the ticker USDE in Q4, has raised $895 million in PIPE financing to date. StablecoinX will buy locked ENA from an Ethena Foundation subsidiary, while the subsidiary plans to buy $310 million worth of ENA tokens from spot markets over the next 6-8 weeks, the firm said. Stablecoin
Strategy Chairman has finally broken the silence on S&P 500 rejection to have his firm on the Index, citing key milestones.
- 10:23Solana on-chain DEX 24-hour trading volume surpasses $8 billionJinse Finance reported, citing market sources: During last night's large-scale liquidation event, Solana decentralized exchanges processed over $8 billion in trading volume, with Orca leading at $2.49 billion. Data shows that the 24-hour trading volume of four Solana decentralized exchanges—Orca, Meteora, Raydium, and HumidiFi—all surpassed the $1 billion mark.
- 10:23Renzo community proposes to buy back and burn 10% of the total REZ token supply over the next 6 monthsOn October 11, it was reported that the Renzo community has released governance proposal RP 6, planning to use protocol revenue over the next 6 months to buy back and burn REZ tokens equivalent to 10% of the total supply. The plan has already been initiated and the first buyback has been completed, using Q3 2025 revenue to burn tokens amounting to 1% of the total supply and 2.3% of the circulating supply. After approval by Renzo governance, the initially purchased 1% REZ will be included in the plan's target. Over the next 6 months, 75%-100% of the protocol's revenue will continue to be used for buybacks, with 9% of the targeted 10% total supply to be burned and 1% to be rewarded to ezREZ stakers. The proposal has now been published on the governance forum and is awaiting community discussion.
- 10:20Solana DEX daily trading volume exceeded $8 billion yesterday, with Orca leading at $2.49 billion.ChainCatcher reported that SolanaFloor posted on X, stating that during a large-scale liquidation event, Solana DEXs processed over $8 billion in trading volume, with Orca leading at $2.49 billion. Four Solana DEXs saw their 24-hour trading volume exceed $1 billion.