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Canada’s economy stagnates for second month as September contraction looms
Canada’s economy stagnates for second month as September contraction looms
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View allHong Kong Dollar Stablecoin HKDAP to Launch on Solana, Supporting Native Minting and Redemption
Solana posted on X that Anchorpoint Fintech, a licensed Hong Kong stablecoin issuer established as a joint venture by Standard Chartered, HKT, and Animoca Brands, will bring the Hong Kong dollar stablecoin HKDAP to Solana. Solana states this marks HKDAP's first collaboration with a public blockchain. HKDAP will be natively minted and redeemed on Solana, with use cases spanning from retail payments to tokenized assets.
Aave Unfreezes All V3 and V4 Markets, 9 Assets Including USDT Temporarily Ineligible as Collateral
Aave posted on the X platform that all Aave V3 and V4 markets previously frozen due to the Binance incident have now been fully unfrozen. As an ongoing preventive measure, the LTV for USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUT, PAXG, and OP will remain at 0 temporarily, meaning these assets cannot be used as collateral for new borrowings. Aave stated that only new deposits and borrowings were suspended during the freeze period, while withdrawals and repayments operated normally. Aave's contracts were not affected by the incident, and all positions remained fully collateralized.
Uniswap, a16z and Others Urge Illinois to Exclude DeFi From Crypto Tax Rules
Uniswap Labs, a16z, and the DeFi Education Fund have submitted comments on Illinois' draft digital asset transaction tax rules, requesting that DeFi protocols, front-end interfaces, and self-custody withdrawals be excluded from taxation. They also demand that wallet withdrawals and cross-chain bridge operations be exempt from taxes levied based on asset value, and that the private key record-keeping requirement be eliminated. Previously, the Illinois Department of Revenue released draft rules proposing a 0.2% tax on digital asset transactions, with the public comment period closing on October 30; the state has agreed to suspend the effective date and enforcement of the Digital Asset Tax Act until July 1, 2027.
Intel's decline widens to 30%, on track to post its largest single-day percentage drop on record
Intel (INTC.O) has seen its decline widen to 30%, and is poised to register its largest single-day percentage drop in recorded history.
Philadelphia Semiconductor Index Decline Widens to 6%
The Philadelphia Semiconductor Index has extended its decline to 6%. NVIDIA's stock price fell 3.24%, TSMC's stock price fell 3.83%, Broadcom's stock price fell 5.04%, Micron Technology's stock price fell 4.46%, AMD's stock price fell 9.48%, Intel's stock price fell 29.6%, and ARM's stock price fell 10.18%.