[Western Union Pilots Stablecoin Settlement System to Optimize Global Remittance Services] Financial services giant Western Union has announced a pilot program for a stablecoin-based settlement system to enhance the efficiency and modernization of its global remittance business. Western Union CEO Devin McGranahan stated during the company's third-quarter earnings call that the pilot project aims to leverage blockchain technology to optimize settlement processes, reduce reliance on traditional correspondent banking systems, shorten settlement cycles, and improve capital efficiency. McGranahan revealed that although the company had previously taken a cautious stance on cryptocurrencies due to their volatility, regulatory uncertainties, and customer protection concerns, the passage of the 'GENIUS Act' has prompted a reassessment of this space. Western Union noted that the stablecoin service will provide customers with more flexible options for fund management and transfers, which could bring significant improvements, particularly for users living in high-inflation countries.

[Solana Co-Founder Toly: L2 Relies on Upgradeable Multisig Mechanism, Security Risks Exist] On October 27, Solana co-founder Toly posted on social media, pointing out that all current L2s rely on the 'upgradeable multisig' mechanism, making it difficult to fulfill their security commitments. He stated that the code complexity and potential attack surface of L2s are vast, making it challenging to achieve the goals of being bug-free, high-performance, and fully functional. Toly emphasized that the multisig mechanism of L2s could expose cross-chain bridge funds to risks similar to Wormhole. Users trading via cross-chain bridges bear additional risks, while native users remain unaffected.

[Padre will distribute PUMP tokens to PADRE holders based on their holding ratio] Trading terminal Padre announced that, according to the snapshot record on October 24, PUMP tokens will be distributed to PADRE holders based on their holding ratio. Users need to submit their Solana wallet address by December 30 to complete the claim. Previously, after Pump.fun acquired Padre, it stated that PADRE tokens would no longer have utility on the platform, sparking community controversy, which led to the introduction of this compensation plan.

1. The probability of the Federal Reserve cutting interest rates in October is close to 98% 2. Trump nominates CFTC chairman, calls US goal global crypto hub 3. US Senator Suggests Citizens to Store Bitcoin for Retirement 4. Sharpnink Gaming increases holdings of 19271 ETH, showcasing its cryptocurrency asset layout 5. Bitcoin options open interest reaches a new high of $6.3 billion 6. Kyrgyzstan launches stablecoin based on BNB Chain and plans to develop CBDC 7. Bitcoin ETFs and exchanges hold 1.69 million BTC, with institutions continuing to increase their holdings 8. Solana raises doubts about the claim that 'Layer 2 inherits Ethereum security' The above is a selection of hot topics from the past 24 hours. Click to see the full article: https://www.aicoin.com/article/495889

[The U.S. will no longer consider imposing a 100% tariff on Chinese goods, progress made in China-U.S. economic and trade consultations] On October 26, the China-U.S. economic and trade teams concluded a two-day meeting in Kuala Lumpur, Malaysia. This was the fifth face-to-face consultation between the two sides since May of this year. U.S. Treasury Secretary Besent stated after the meeting that the two sides had reached a 'very substantive framework agreement,' and the U.S. has decided to no longer consider imposing a 100% tariff on Chinese goods. This consultation is seen as an important step toward improving China-U.S. economic and trade relations.