Friday, Oct 23

Morning Digest

1. 10-year Treasury yield drops to 4.96%, from 5.13% markets Treasury data show the 10-year closed Oct 22 at 4.96%, its biggest one-day drop since March 2023 per Reuters, as money left AI stocks.
2. HSBC launches HKD stablecoin for 3.3M PayMe users crypto HSBC's first stablecoin, RedCoin, licensed by the HKMA, went live Oct 23 for transfers and payments at 100,000+ merchants, putting a regulated bank token in a widely used app.
3. Bitcoin ETFs post $635.6M net outflow crypto Farside data show IBIT (-$254.1M) and FBTC (-$217.5M) led the Oct 22 withdrawals, one day after $524.8M of inflows.
4. NY AG seeks $1.367B from NovaTech founders crypto In an Oct 22 filing, the state asked a court to order Cynthia and Eddy Petion, who left the US, to pay; it says investors put $1.16B in crypto into NovaTech.
5. Ethereum delays Glamsterdam test on Hoodi crypto Core developers postponed the Oct 26 testnet upgrade and its 200M gas-limit rise to study EIP-8037's effect on existing contracts.