Trump supporter and Palantir co-founder Joe Lonsdale opposes Trump's pardon of Changpeng Zhao

The AI startup frenzy and FOMO are inflating round sizes and valuations. Yes, the potential is huge. But too much capital too early often leads to mediocre outcomes. Remake of 2020–22?

The post BDACS Launches KRW1 Stablecoin Backed by the Won appeared on BitcoinEthereumNews.com. BDACS Launches KRW1 Stablecoin Backed by South Korean Won Custody service provider BDACS has launched KRW1, a new stablecoin pegged 1:1 to the South Korean won (KRW). The regulated custodian focuses on institutional clients and offers services including crypto asset custody and transaction infrastructure supporting multiple blockchains. The KRW1 project recently completed its proof-of-concept (PoC) phase, with the stablecoin launching on the Avalanche blockchain. Each KRW1 token is fully backed by fiat currency, with reserves held at Woori Bank, one of South Korea’s largest financial institutions. Transparency and Platform Features BDACS emphasizes full transparency: holders can monitor reserves in real time via banking API integration, although no dedicated portal is currently available. According to the press release, “The KRW1 launch goes far beyond token issuance. BDACS has developed a comprehensive platform, including issuance and governance systems, as well as a user application supporting peer-to-peer transfers and transaction verification.” The stablecoin is positioned for global use, with potential expansion through new network integrations and collaborations with dollar-pegged stablecoins like USDC and USDT. BDACS also plans to integrate KRW1 into government initiatives, though negotiations or official involvement have not been confirmed. Current Status and Market Outlook KRW1 remains in the concept stage and is not yet publicly traded or available to retail consumers, as South Korea currently lacks a stablecoin framework. However, the launch is reportedly supported by the country’s new president, Lee Je-moon. In related news, Kakao is also reportedly considering a won-pegged stablecoin, highlighting growing interest in this emerging asset class. Source: https://coinpaper.com/11089/bdacs-launches-krw-1-stablecoin-backed-by-the-won

PANews reported on October 24th that, according to Cointelegraph, OpenAI CEO Sam Altman's digital identity project, World (formerly Worldcoin), is facing new challenges in Thailand, where local authorities raided an iris scanning station allegedly operated by the project. The operation, conducted jointly by the Thai Securities and Exchange Commission (SEC) and the Cyber Crime Investigation Bureau (CCIB), targeted scanning stations associated with "WLD exchange services." World has 102 such scanning stations in Thailand. The SEC and CCIB stated that the WLD exchange service provider is suspected of operating without a license, violating local digital asset laws. World stated that WLD tokens will only be distributed in legally permitted areas through identity verification, and that eligibility is restricted by factors such as region and age. World also clarified that it is not responsible for the circulation of WLD tokens on third-party platforms, including centralized or decentralized exchanges.