Daily Market Wrap | Oct. 16

Hot Topics

  • France’s Lise secures a DLT license to launch Europe’s first tokenized stock exchange, merging trading and settlement for SME IPOs starting in early 2026.
  • Visa aims to build infrastructure for "onchain finance," rebranding DeFi, to connect banks to a $670B stablecoin lending market without issuing tokens or funding loans.

Market Updates

  • Bitfarms announced a $300M convertible notes offering due 2031, with shares down 4% pre-market, despite a 315% YTD surge from its AI/HPC pivot.
  • Paxos mistakenly minted $300T of PayPal’s PYUSD on Ethereum but quickly reversed it via a burn mechanism, with no security breach or customer fund risks.
  • Monad opened its MON airdrop portal for 5,500 core and 225,000 crypto users to check eligibility before the token launch, based on on-chain and off-chain activity.