Spot Gold Plunges Over $100 Intraday

On October 28th, as per official channels, Coinbase's fully-owned investment management entity - Coinbase Asset Management (CBAM), announced today a strategic partnership with the asset management behemoth Apollo (NYSE symbol: APO). The two parties will jointly launch a stablecoin-based credit strategy scheme. This action aims to construct a bridge connecting stablecoins, private credit, and asset tokenization, with the intention of exploring high-quality credit opportunities within the rapidly expanding stablecoin ecosystem. The official statement indicated that CBAM, which is committed to providing digital asset strategies to accredited investors, will conduct in-depth cooperation with Apollo, a leader in credit underwriting, asset origination, and tokenization solutions. The two sides plan to jointly launch innovative credit investment products by 2026.

On October 28th, the managing partner of Multicoin Capital, Kyle Samani, deleted a previous tweet regarding the "Bitwise SOL Staking ETF to be listed on October 28th." The reason for this deletion remains unclear at present.

On October 28th, Kyle Samani, the managing partner of Multicoin Capital, announced on social media that the SOL spot ETF with staking services, namely the Bitwise SOL Staking ETF, will become operational on Tuesday, October 28th (Tuesday night after the U.S. stock market opens in Beijing time). BlockBeats Note: There are certain distinctions in terms of compliance and asset composition between the Bitwise SOL Staking ETF (BSOL) and the previously listed REX-Osprey SOL Spot ETF (SSK). These differences mainly arise from their filing procedures, regulatory disclosures, and operational structures. REX-Osprey SOL mainly directly stakes SOL (the majority of assets), with 40% staked indirectly through other ETPs and a small portion held in liquid staking tokens. In contrast, the Bitwise SOL Staking ETF (BSOL) will directly stake SOL from the custody wallet, accumulate rewards on a daily basis, and increase the per-unit SOL holding amount. The asset composition is 100% spot SOL.

On October 27th. According to Bloomberg, Citigroup has declared a partnership with Coinbase Global Inc. The two parties are set to jointly enhance digital asset payment capabilities and offer services to the bank's corporate clients. This collaborative effort represents the latest instance of a Wall Street giant venturing into the blockchain field for innovation in the face of years of regulatory warnings regarding the risks of digital assets. In the initial stages of the partnership, the emphasis will be on investigating ways to simplify Citigroup's institutional clients' fund conversion processes, such as converting cryptocurrency into fiat currency and the reverse operation of using fiat to purchase cryptocurrency. This will also cover cross-border scenarios.