Morning News | Gold price drops below $4,100. Limitless releases details on its token economics.

Coinbase Global Inc. has invested approximately $375 million to acquire the investment platform Echo.

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Coinbase Global Inc. spent around $375 million to acquire the investment platform Echo.

Coinbase announced its acquisition of Echo using a combination of cash and shares, with a total value of approximately $375 million. The goal is to incorporate this fundraising tool into its platform ecosystem. Echo was founded two years ago, and its Sonar platform has helped projects raise more than $200 million in capital. This acquisition marks Coinbase’s move towards a model of “project financing → token issuance → real asset tokenization”.

Zelenskyy: Ukraine is ready to end the conflict with Russia.

On the evening of the 21st local time, Ukrainian President Zelenskyy said in his speech that Ukraine has completed preparations for meetings with European partners and will sign a new agreement regarding defense capabilities this week. Zelenskyy stated that this agreement will effectively become part of Ukraine’s long-term security arrangements, providing lasting protection for the country and its people. He noted that Ukraine and its partners have maintained consistent positions on diplomatic issues. Zelenskyy reiterated that Ukraine is ready to end the conflict with Russia. He revealed that during his talks with U.S. President Trump, both sides agreed to try to negotiate based on the current situation on the front lines.

Spot gold prices fell by $100 during the day, currently at $4025.22 per ounce.

现货黄金日内重挫100美元，现报4025.22美元/盎司，跌幅2.43%。现货白银日内下跌2.00%，现报47.66美元/盎司。

Federal Reserve 主办「支付创新会议」，加密资产成热点议题

美国联邦储备系统于 10 月 21 日在华盛顿举办“支付创新会议”，首次将加密货币、稳定币、区块链支付列为主要议题，会议参会者包括加密、金融与科技领域代表。此类政策会议的动向被视作加密资产与传统金融体系整合的信号。

美联储提议推出“精简版主账户”，为金融科技公司和稳定币发行商提供直接支付通道

据加密记者 Eleanor Terrett 报道，美联储理事 Chris Waller 在联邦储备银行支付创新会议上宣布，央行提议推出一种新型限制性主账户(称为"精简版主账户")，允许所有法律合规机构直接接入美联储支付系统，无需依赖合作银行。

该精简版主账户不提供完整主账户的所有服务，如向美联储借款功能，但每个法律合规实体都可申请，且资格法律规则不会改变。这一举措将使美联储能够为创新银行、金融科技公司、稳定币发行商和其他支付公司开绿灯。

Eleanor Terrett said that this move is of great significance for companies like Custodia Bank and Kraken. These companies have been trying for years to obtain access to the Federal Reserve’s main account. In fact, Custodia even sued the Federal Reserve. Additionally, companies like Ripple and Anchorage, which applied this year, may also accelerate their process of gaining access to these resources.

Several Korean banks have frozen assets worth over 910 billion Korean won belonging to the “Prince Group” in Cambodia.

According to reports from Red Star News, after the United States and Britain imposed sanctions on the “Prince Group” and its founder, Chen Zhi, five Korean banks have taken the lead in freezing assets worth over 910 billion Korean won. Among them, a branch of the Korean National Bank has frozen 567 billion Korean won.

Due to the sanctions, the “Prince Bank” under the “Prince Group” faced a liquidity crisis. Many customers rushed to withdraw their funds, and several branches suspended transactions due to insufficient funds. The bank’s website and mobile app were temporarily unavailable. The Korean Financial Services Commission stated that it will impose financial sanctions on the group within this month.

Previously, the US Department of Justice seized nearly 130,000 bitcoins belonging to the scam ring in Cambodia, valued at over $15 billion. It was reported that the “Prince Group” was behind these activities, and its founder, Chen Zhi, is currently on the run.

Limitless has released its token economics model: a total supply of 1 billion tokens, with 24.37% of tokens being distributed through airdrops and incentives.

According to official sources, the prediction market platform Limitless has released details regarding the economics of its LMTS tokens. The total number of tokens to be issued is 1 billion, with the distribution as follows: 25% for investors, 1.37% for Kaito’s pre-sale, 1.26% for Echo轮次分配, 25% for the team, 24.37% for ecosystem rewards (including airdrops and incentives), 13% for the vault, and 10% for liquidity purposes.

Learning Times: Digital currencies are becoming an important strategic tool in geopolitical competition.

The official account of Learning Times, sponsored by the Central Party School, published an article titled “The Military Functions of Digital Currencies in War Times”. The article states that digital currencies are increasingly being used as strategic tools in geopolitical conflicts. Thanks to the decentralized nature of blockchain technology, digital currencies can facilitate rapid fund allocation, anonymous transactions, and evasion of sanctions during wartime. These features have been demonstrated in various geopolitical conflicts.

There are three main modes of applying digital currencies in military contexts worldwide: resource-based countries use “resource tokenization” (such as Venezuela’s Petro), small and medium-sized countries use “decentralized crowdfunding”, and developed countries use “on-chain sanctions”. The “Defense Blockchain Internal Testing Program” mentioned in the U.S. Defense Authorization Act for the 2025 Fiscal Year could become an important strategic tool for “financial defense” in the future.

Experts believe that despite challenges such as market acceptance and regulatory policies, the militarized use of digital currencies will continue to develop. In the future, these technologies may go beyond their traditional functions and become multi-functional strategic platforms that integrate security assurance, combat support, and digital countermeasures.

Citibank has given a “buy” rating to Strategy, with a target price of $485.

According to reports from BitcoinTreasuries.NET, Citibank has rated Strategy (MSTR) as a buy, with a target price of $485.

YZi Labs 领投 Sign 2550 万美元战略融资，该公司三轮融资累计超 5500 万美元

据 Blockworks 报道，YZi Labs 领投了 Sign 2550 万美元战略投资轮，IDG Capital 也参与了此轮融资。Sign 在种子轮、A 轮和战略轮三轮融资中累计筹集超过 5500 万美元。

Sign 专注于构建数字基础设施，首席执行官 Xin Yan 表示，公司计划利用此轮资金扩大技术团队，积极寻求超级账本 Fabric、零知识证明和互操作性领域的顶尖人才，并在各国建立本地团队。资金还将用于扩展各种合作伙伴关系，推动主权区块链基础设施的发展。

Galaxy Digital Q3 财报：第三季度净利润 5.05 亿美元，数字资产交易量创历史新高

Galaxy Digital 发布 2025 年第三季度财报。财报显示，Galaxy Digital 第三季度净利润达 5.05 亿美元，稀释每股收益 1.01 美元，调整后每股收益 1.12 美元。截至 9 月 30 日，公司总资产达 115.23 亿美元，股东权益 31.72 亿美元，现金和稳定币持有量 19.1 亿美元。

数字资产交易量创季度新高，较第二季度增长 140%，包括代表客户出售超过 8 万枚 Bitcoin。平台总资产达到约 170 亿美元的历史新高。