Federated Hermes taps Prometheum for tokenized fund debut in Q1 2027

Federated Hermes, which manages $911.6 billion in assets, has partnered with Prometheum to develop tokenized funds for U.S. brokerage distribution, with the first product expected in Q1 2027.  SummaryQ1 2027 is the expected launch window for the partnerships first tokenized fund product.ProFinancial will support distribution, while Prometheum Capital will provide custody, clearing and settlement services.Introducing broker-dealers will access the funds through Prometheum Capitals correspondent clearing platform.Federated Hermes reported $911.6 billion in assets under management as of June 30, 2026.  Prometheum and Federated Hermes said in their Oct. 13 announcement that the planned collaboration will bring blockchain-based investment products to broker-dealers and registered representatives serving American investors.  Under the arrangement, Federated Hermes will supply investment management expertise, while Prometheums SEC-registered, FINRA-member broker-dealer subsidiaries will provide the securities infrastructure.  For U.S. customers, the companies described a distribution model built around brokerage accounts and adviser relationships already used for investing. Their stated plan is to extend access beyond platforms primarily serving crypto investors, using financial intermediaries to offer and service the products.  You might also like:  Nasdaq CEO says tokenization could unlock billions  Federated Hermes tokenized funds will use separate distribution and custody services  Within Prometheum‘s network, ProFinancial will support distribution of the tokenized products, according to the announcement. Prometheum Capital

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Wells Fargo prepares for stablecoins as CEO questions US use cases

Wells Fargo has outlined plans to issue stablecoins with 20 other financial institutions in the first half of 2027, while CEO Charlie Scharf has said their use cases in the United States remain unclear.  Summary21 financial institutions are establishing a stablecoin company, with a dollar token planned first.Scharf said Wells Fargo launched tokenized deposits for corporate and commercial clients in September.The consortium plans to support cross-border payments and digital asset settlements across several customer groups.Wells Fargo reported third-quarter net income of $5.95 billion, compared with $5.59 billion a year earlier.  Wells Fargo CEO Charlie Scharf said during the banks Oct. 13 earnings call that it was building digital payment services while assessing where stablecoins could serve American customers. Alongside the proposed stablecoin business, he confirmed that the bank had already launched tokenized deposits on its own blockchain platform.  “Use cases in the US for stablecoins remain unclear, but were building solutions to be prepared as opportunities potentially unfold,” Scharf said.  In describing the bank‘s spending priorities, Scharf said Wells Fargo was accelerating investment in traditional and digital payments for consumers and businesses. He identified corporate money transfers as a use case for tokenized deposits, saying the platform’s expansion would let clients move funds between

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Ethereum Name Service plans major .eth overhaul with one irreversible catch for domain holders

Ethereum Name Service has proposed activating ENSv2 without requiring existing .eth domain holders to migrate to the new system.  Related Asset Ethereum #2 ETH · $2,503.51 24-hour change: down 0.30% Loading price history… 24H Down 0.30% 7D Down 7.23% 30D Down 0.10%  The Oct. 11 proposal would let users keep their current names indefinitely, as long as they keep renewing them, while offering a permanent migration option for those who want access to upgraded features.  Once activated, ENSv2 would handle all new .eth registrations, replacing the existing registration infrastructure. Holders who migrate would permanently transfer management of their domains to the new system, with no mechanism for returning their original tokens.  Related Asset Ethereum Name Service ENS · $6.03 24-hour change: down 1.39%  The proposal remains subject to approval by the ENS decentralized autonomous organization (DAO), whose Oct. 12 governance bulletin listed the vote as pending. ENS has not announced a launch date.  ENSv2 introduces permanent migration and higher registration fees  The upgrade would replace ENSs existing registry, introduced in 2017, with a hierarchical structure that allows individual domains to maintain separate registries for their subdomains.  The changes would give owners more flexibility in assigning permissions, letting businesses and decentralized applications delegate responsibility for specific names or records

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Strive Buys $280 Million in Bitcoin, Its Largest Purchase in Months

In briefStrive bought 3,311 BTC worth roughly $280 million between Oct. 5 and Oct. 9 at an average price of about $84,500 per coin, its largest purchase since January, lifting holdings to 32,773 BTC.The buy caps an aggressive run—following $169 million and $94.5 million purchases—for the firm, which trades as ASST and recently merged with Semler Scientific to grow its balance sheet.It lands amid heavy treasury activity from Strategy, Solana‘s DeFi Dev Corp. and Bitmine, as Strive bought into a dip well below Bitcoin’s recent highs.  Strive is piling into Bitcoin at its fastest clip of the year, scooping up another 3,311 BTC worth roughly $280 million in its biggest single purchase since January.  The Nasdaq-listed asset manager, which trades under the ticker ASST, disclosed in a filing Monday that it bought the Bitcoin between Oct. 5 and Oct. 9 at an average price of about $84,500 per coin, including fees. The buy lifts Strive‘s total holdings to 32,773 BTC, worth roughly $2.73 billion at today’s prices, up from 29,462 BTC a week earlier.  Myriad: How high will Bitcoin go? Click to make your prediction.  The purchase caps a stretch of aggressive accumulation. Strive added $169 million in Bitcoin earlier this month in what

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Bitcoin price rebounds as whales return: Can BTC break $84,000?

Bitcoin price recovered toward $83,200 on Oct. 13, but weak daily momentum and another rejection near $84,000 left buyers facing a fresh test despite an analysts report of renewed whale activity.  TradingView‘s Binance BTC/USDT daily chart showed Bitcoin at $83,200.43, up 1.65% from the day’s opening price of $81,850.01. The session reached $84,168 before retreating, leaving BTC roughly $968 below its intraday high.  The rebound followed a decline to $81,033.66, putting Bitcoin about 2.7% above the session low. However, the daily chart still placed the price below its 20-day moving average, while the 4-hour chart showed momentum close to neutral.  Bitcoins rebound stalls below its 20-day average  TradingViews daily Bollinger Bands placed the middle band, representing the 20-day simple moving average, at $83,986.24. Bitcoin traded approximately 0.9% below that level, making the average an immediate technical hurdle alongside the round $84,000 threshold.  Bitcoin price daily chart — Oct. 13 | Source: TradingView  The same indicator placed the upper band at $86,366.41 and the lower band at $81,606.06. The sessions low extended below the lower band before the price recovered inside it, while the advance above the middle band failed to hold.  That sequence left the daily chart showing a recovery from the lower edge of its recent

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AI Researchers Are Smoking Cigarettes to Prove AI Will Cure Cancer, Says Palantir Exec

In briefPalantir CTO Shyam Sankar claimed on CBS that many AI researchers have started smoking to show how much they believe in AI.Sankar provide any data, and used the segment to attack effective altruism as a doomsday cult.The CDC says smoking causes about one in three U.S. cancer deaths, and Anthropics Dario Amodei says only actually curing cancer will earn public trust in AI.  Nothing says “I trust the future of medicine” quite like lighting a Marlboro and waiting for the chatbot to fix your lungs. That is the habit Palantir CTO Shyam Sankar says is spreading among AI researchers, who have supposedly started smoking cigarettes to prove how confident they are that AI will cure cancer.  “So many AI researchers have started smoking as a way of signaling to other researchers how much they believe in AI,” Sankar said in an interview on CBS News “Face the Nation” on Sunday. “I believe so much in AI that its going to cure cancer. So Im showing you my chips are all in.”  Myriad: Which company will have the best AI model? Click to make your prediction.  He did not name a single researcher, cite a survey, or explain how he knows. The remark landed

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Wall Street Earnings, Sliding Chip Stocks Keep Bitcoin's Price at Bay

Wall Street has been struggling to find its footing on Tuesday, Oct. 13, 2026, as disappointing JPMorgan Chase earnings collided with another semiconductor selloff. Goldman Sachs delivered a blockbuster quarter, but chip stocks continued losing ground amid mounting concerns over artificial intelligence (AI) spending and Chinese competition. Meanwhile, bitcoins price clawed its way back above $83,400 after a punishing liquidation wave erased hundreds of millions of dollars in leveraged positions.  Key TakeawaysBitcoins price recovered to $83,445 Tuesday after briefly falling below $81,000 amid heavy liquidations.JPMorgan Chase missed earnings expectations, while Goldman Sachs delivered a powerful trading quarter.Nvidia and other chipmakers faced selling pressure as Wall Street awaited Wednesdays inflation report.  Bitcoins Price Reclaims $83K as Wall Street Wobbles and Chip Stocks Take a Beating  Wall Street had two problems on Tuesday. America‘s biggest banks couldn’t agree on whether business was booming, and the semiconductor industry was having another miserable day. JPMorgan Chase stumbled on earnings while Goldman Sachs came out swinging, leaving investors to sort through conflicting signals from the financial sector.  Top Wall Street Indexes at 1 p.m. ET | Oct. 13, 2026IndexValuePoint ChangeNasdaq Composite27,211.86???? -34.05NYSE Composite23,958.61???? -32.12Dow Jones Industrial Average51,676.69???? -173.86S&P 5007,802.57???? -4.67  All four major indexes were trading in negative territory at

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How the SECs lack of leadership could facilitate crypto rulemaking

After US lawmakers failed to pass a comprehensive digital asset market structure bill, financial regulators stepped up efforts to change rules around the oversight and enforcement of crypto companies and offerings.  However, the two primary regulators, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), are understaffed at the leadership level, leaving the decisions for regulating aspects of the $3 trillion crypto market largely in the hands of just three individuals, two of whom were nominated by US President Donald Trump.  At the SEC, two commissioners — Chair Paul Atkins and former Acting Chair Mark Uyeda — remain following the departure of Commissioner Hester Peirce earlier this month. The dearth of leadership at the CFTC is even more stark, with Michael Selig serving as the only Senate-confirmed chair and commissioner since December 2025. The agencies are intended to each have five commissioners.  Both agencies have proposed rules that appear to be attempting to take the place of legislation from Congress in regulating cryptocurrencies.  The SEC proposed rules to provide companies with a safe harbor from tokens being treated as “investment contracts” in August, and the CFTC followed suit in October, with Selig saying the agency would use its “existing statutory authorities”

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Australia moves to close crypto derivatives loophole after retail traders lose A$458 million

Australias markets regulator proposed extending retail leverage restrictions to crypto-settled derivatives amid mounting losses among investors trading risky financial products.  On Oct. 12, the Australian Securities and Investments Commission (ASIC) announced it wants to expand its existing contracts-for-difference (CFD) rules to cover qualifying derivatives settled through digital assets, closing a regulatory gap that lets economically similar products face different restrictions.  The proposal follows ASICs finding that 68% of retail CFD clients lost money during the 2023–24 financial year, with combined losses exceeding A$458 million ($325 million), including A$73 million in fees. The figures cover CFD trading across asset classes, rather than cryptocurrency derivatives alone.  The Australian regulator is also seeking to extend its existing investor protections for another decade, keeping them in force until 2037, subject to government approval.  Australia targets leveraged crypto products and margin practices  Under ASICs existing framework, CFDs are generally covered when transactions are settled in cash or through offsetting obligations between counterparties.  However, some derivatives with similar characteristics can settle through transfers of digital assets, potentially placing them outside the current product intervention order.  ASIC wants to eliminate that distinction by extending the definition to qualifying digitally settled contracts, regardless of whether their underlying exposure is linked to cryptocurrencies, traditional assets, interest

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Bitcoin Shakes Off Spooky Season Jitters: Can Bulls Keep It Going?

In briefBitcoin is up 2.24% at $83,591.79 after dipping to $80,953.41, a higher low than the $80,365.12 swing that started its latest bounce.The Crypto Fear and Greed Index sits at a neutral 55, down from an “extreme greed” peak of 82 in August.Myriad traders give 54% odds that Bitcoin touches $80,000 in October and 45% odds it reaches $87,500.  Bitcoin is bouncing today following a week that had traders swapping “Uptober” memes for “spooky szn” ones after BTC cut its September gains in half.  The price of Bitcoin today slid to $80,953.41 early Tuesday, extending a Monday sell-off, then reversed to $83,591.79, up 2.24% on the day.  Myriad: How high will Bitcoin go? Click to make your prediction.  The Crypto Fear and Greed Index, a 0-to-100 sentiment gauge built from momentum, volatility, options positioning and social data, fell to 53 from an “extreme greed” reading of 82 on Aug. 26. It reads 56 today, a neutral score. What it boils down to is this: The August euphoria is gone, but traders arent panicking either.  Bitcoin ETFs are down a net $386.3 million in October, and outflows force funds to sell actual Bitcoin. Wednesdays Consumer Price Index report, expected to show annual inflation rising to 3.6%

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