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first_img On-chain infrastructure company KR1 purchased 5,000 TAO and initiated Bittensor staking

On October 29, KR1 plc, a company listed on the main board of the London Stock Exchange that focuses on on-chain infrastructure, announced the launch of its technical infrastructure operations on the decentralized artificial intelligence network Bittensor. The company stated that it has recently acquired 5,000 network-native assets TAO and has initiated staking as part of its technical infrastructure strategy. Based on the reward rate observed on October 28, the company estimates that the annualized infrastructure income is approximately equivalent to 6.6% of the current value of the deployed TAO holdings.The announcement stated that Bittensor is a layer blockchain that supports subnets, covering services such as AI inference, computing power, training, and prediction, where independent suppliers compete for network rewards based on performance. KR1 supports the assessment of service provider performance through staking and receives a portion of the network rewards. There is no mandatory unbonding period for TAO unstaking, allowing the company to retrieve its holdings immediately after unstaking. Rewards can be retained to expand the scale of productive assets or can be liquidated for subsequent investments and operational costs. The company will also disclose its TAO holdings and related infrastructure income in monthly unaudited updates.Keld van Schreven, Managing Director and Co-Founder of KR1, stated: "As artificial intelligence enables more complex tasks to be performed by software, the demand for infrastructure related to supply-side intelligence is expected to grow significantly. Bittensor introduces open competition for the supply of AI services, and the company is focused on how its incentives are forming services that lead to continuous customer payments, as well as how to deploy TAO holdings to enhance the value and income potential of productive digital assets per share." KR1 claims to be the only publicly listed company on the main board of the London Stock Exchange that focuses on on-chain infrastructure, holding and operating productive digital assets on the relevant network.

Beijing investigates the first case of pyramid selling using blockchain and virtual currency, a technology company was fined and confiscated over 930,000 yuan

According to a report from the Beijing Daily client, the Market Supervision Administration of Haidian District, Beijing, investigated and handled the city's first illegal case of assisting pyramid schemes using blockchain and virtual currency technology, resulting in a technology company being fined and confiscated a total of over 930,000 yuan.The technology company involved is an outsourcing service provider for a certain public blockchain, offering support such as operations, market services, publicity and promotion, exchange docking, and maintenance. This public blockchain launched the "Atomic Plan" and "Hathaway Plan," which are centered around recruiting people for rebates, using the number of recruited individuals as the basis for rebates, and requiring participants to invest funds to obtain membership qualifications. Despite being aware of the pyramid scheme applications associated with this public blockchain, the involved company continued to provide technical operations, external publicity, and maintenance of virtual currency trading channels, facilitating the flow of funds and the spread of activities related to the pyramid scheme.Ultimately, the pyramid scheme activities of this public blockchain were investigated by public security authorities, the organizers were criminally detained, and the involved technology company was administratively punished with a total fine and confiscation of over 930,000 yuan for providing facilitative conditions.

first_img CFTC Chairman: Refrigerators can stake ETH and issue Memecoin

Michael Selig, the Chairman of the U.S. Commodity Futures Trading Commission, stated at the CFTC's inaugural Frontier Forum in Washington that imagining a refrigerator autonomously purchasing groceries with funds from staked ETH, or even issuing its own Memecoin, "is no longer science fiction." He believes that when AI agents can hold assets and execute trades autonomously, regulators must make adjustments.Selig pointed out that the CFTC's regulatory framework is built around executing specific financial functions concerning "identifiable market participants," but autonomous software is raising questions about how these rules apply. He proposed that if AI agents identify trading opportunities and execute trades for users, their developers may need to register, who is responsible when the agent goes out of control, how regulators know for whom the agent is trading, and whether a new type of "Know Your Agent" rule, referred to as KYA, is necessary.Selig also mentioned that AI could provide smaller traders and businesses with risk management capabilities that were previously only available to large institutions, but greater autonomy also brings new risks: agents may react unexpectedly to market conditions, agents using similar models may exhibit correlated trading behaviors, and the speed of autonomous trading could complicate market regulation and risk management. Animoca Brands Chairman Yat Siu recently expressed similar concerns to Cointelegraph; Coinbase launched Agentic Wallets in February, and Binance introduced AI Agent Skills in March, allowing agents to trade within user-defined parameters or provide spot order tools.

UXUY launched the stock tokenization platform uStock to assist U.S. and Hong Kong listed companies in expanding on-chain liquidity

Decentralized exchange UXUY announced the launch of the stock tokenization service platform uStock, primarily targeting small and medium-sized listed companies in the US and Hong Kong stock markets. The platform plans to provide share issuance, on-chain investor distribution, and post-issuance liquidity services, connecting listed companies with global on-chain investors, using stablecoins such as UUSD as tools for subscription, pricing, and settlement.According to the proposed product mechanism, each uToken corresponds to the economic rights of one share of the underlying stock, covering price changes, cash dividends, and corporate actions such as stock splits and mergers. The underlying stocks are intended to be custodied by licensed brokerages, trusts, and other institutions, isolated through independent asset holding entities. The platform plans to disclose stock custody, token issuance, and asset coverage through a Proof of Underlying asset verification mechanism.uStock will establish an initial liquidity pool for uToken/UUSD using part of the raised funds according to the issuance documents and will introduce on-chain market makers. As the spot market and infrastructure advance, the platform intends to gradually support round-the-clock on-chain trading and explore integration with UXUY's self-developed Perp DEX to expand on-chain perpetual contract trading for corresponding uToken assets.UXUY founder 0xKevin stated, "We are bringing stablecoins into more real asset scenarios, allowing US and Hong Kong listed companies to connect with global investors and capital. In the future, we will continuously improve issuance, trading, and liquidity services around real stock rights, establishing a more long-term connection between corporate growth and global on-chain capital."
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