Cardano Foundation CTO to Step Down on August 31

LYNX Equity Strategies analyst KC Rajkumar’s team stated on October 23 that SK Hynix’s abandonment of its Solidigm’s U.S. initial public offering (IPO) plan could benefit Micron Technology and SanDisk, as the move reduces the risk of future global NAND flash oversupply. The firm pointed out that Solidigm had originally planned to raise capital through a U.S. IPO to support expanding NAND manufacturing capacity in the U.S. The potential project, a joint venture between SK Hynix and Intel, would be located at sites including Intel’s Ohio campus. The new capacity was expected to hit the market in three years or longer, which could boost global NAND supply and drive down prices. With the IPO plan scrapped, the related expansion project loses its potential funding source, helping alleviate market concerns over future capacity growth. LYNX noted that this typically provides a clear positive for Micron and SanDisk’s product pricing and valuations, though the current market environment may limit their stock price upside; Intel, meanwhile, could suffer a minor negative impact from losing the potential manufacturing project.

A regulatory document seen by Reuters shows that six additional companies, including Wells Fargo, Arm Holdings, and Intuit, will not allow their stocks to be tokenized on a joint trading platform backed by crypto exchange OKX and Intercontinental Exchange (ICE). These previously unreported objections highlight growing challenges facing stock tokenization. Stock tokenization refers to converting the equity representing a company’s shares into digital tokens, enabling them to be traded on blockchains like cryptocurrencies. While U.S. securities regulators have recently approved such innovative products, the pushback from these companies remains a drag on its development. The document shows that a total of 22 companies have raised objections so far. It outlines the rules for OKX and ICE’s joint project and lists the objecting firms, but does not specify the exact reasons for their objections.

Initia co-founder Zon said that based on current information, the security incident likely originates from a zero-day vulnerability in Initia’s Cosmos SDK-based MoveVM. The flaw allows attackers to mint additional tokens on Initia’s Layer 1 (L1) blockchain, but does not affect the native token INIT. Zon added that before the blockchain was suspended, the attacker had transferred out approximately $2.7 million worth of AUSD, ETH, and USDC by minting extra tokens and conducting cross-chain transfers. The team is still investigating the incident, and subsequent impacts and more details remain to be confirmed.

According to official announcements, on-chain perpetual futures trading platform Extended has announced its native token XTEN is scheduled to launch in November 2026, with the token’s economic model set to be unveiled on October 31. XTEN’s initial total supply stands at 1 billion tokens, of which 300 million (30% of the total) will be allocated to eligible participants of the Extended Points program. Qualified users will receive XTEN in their self-custodial Arc wallets at no cost. The XTEN whitepaper has been drafted in compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation, submitted to relevant authorities for registration, and is expected to be released on October 31.

Israeli Prime Minister Benjamin Netanyahu said Friday that he has requested the development of a plan leveraging blockchain technology to help Israel address potential financial sanctions, while warning that U.S. military aid will eventually come to an end.

Initia announced that as of 23:41:30 (UTC+8) on October 23, 2026, its L1 mainnet and Rollup have been suspended following a security incident. The project team is collaborating with security teams, validators, and exchanges to investigate and assess the specific impact scope of the incident. Initia stated that it will release verified information via official channels in the future, and reminded users to stay vigilant and treat unofficial links, messages, and related claims circulating during the event with caution.