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More →Zcash co-founder calls to stop funding ‘over $125M’ grants program
Sean Bowe says ZCG has enough money to keep funding projects and wants its share of new ZEC redirected to a reserve for the network. Zcash co-founder Sean Bowe proposed ending the automatic funding stream to Zcash Community Grants (ZCG), saying its treasury was large enough to continue funding projects without further automatic payments. “ZCG has over $125M in funding, and will receive millions more before the spigot is turned off,” Bowe <a href="https://x.com/ebfull/status/2114911107718742451" rel="nofollow noopener" target="_blank">>said</a> Tuesday on X. “The program was never designed to handle this amount of funding.” Bowe shared a draft GitHub <a href="https://github.com/zcash/zips/blob/end-zcg-stream/zips/draft-bowe-end-zcg-stream.md" rel="nofollow noopener" target="_blank">>proposal</a> that would redirect ZCG’s 8% share of the Zcash (ZEC) block subsidy to the network’s sustainability reserve, while leaving its existing funds untouched. The allocation would flow to the Network Sustainability Mechanism until the current funding period ends in 2028. The mechanism is designed to hold ZEC out of circulation and gradually reissue it through future block rewards. In September, Haseeb Qureshi, managing partner at crypto venture capital firm Dragonfly, proposed ending the <a href="https://cointelegraph.com/news/dragonflys-qureshi-end-zcash-dev-fund-2028" target="_blank" rel="nofollow">Zcash developer fund</a> when its current funding period expires, saying that it risks being “politicized” as it approaches $100 million in value. ZCG’s dashboard <a href="https://zcashcommunitygrants.org/" rel="nofollow noopener" target="_blank">>listed</a> 91,453 ZEC and $8.8 million in cash as of Wednesday, with $2.4 million in outstanding grant commitments. The ZEC holdings alone were worth about $111 million at press time. The network’s separate development lockbox <a href="https://zecstats.org/shielded" rel="nofollow noopener" target="_blank">>held</a> 72,351 ZEC, worth roughly $89 million, according to ZecStats. <em><strong>Related: </strong></em><a href="https://cointelegraph.com/news/prediction-markets-17b-robinhood-exceed-crypto-revenue-2028-bernstein" target="_blank" rel="nofollow"><em><strong>HOOD’s prediction markets to add $1.7B to revenue, exceed crypto by 2028: Bernstein</strong></em></a>
Brazil’s Stock Market Crashes After Lula’s Upset Victory
Brazil’s stock market lost more than $200 billion in value at the open on Monday after President Luiz Inácio Lula da Silva beat Senator Flávio Bolsonaro in Sunday’s runoff, a result that prediction markets had priced at roughly a one in five chance. The iShares MSCI Brazil ETF, ticker EWZ, a basket of Brazilian stocks that trades in New York like a single share, fell as much as 26% from Friday’s close of about $42.60, touching $31.40 before trimming the loss to about 23% at $32.84 by 10:38 a.m. ET. That is memecoin-sized volatility for a fund built around Brazil’s biggest companies, and it leaves EWZ roughly where it started 2026 after a 34% gain through Friday. The dollar rose as much as 12% against the real on Friday, while the Ibovespa, Brazil’s benchmark stock index, fell as much as 17% to about 170,000 points. For a dollar-based investor, those moves at their worst combine to a loss of about 26%, in line with the ETF’s low. B3, the São Paulo exchange, halted trading for 30 minutes after the Ibovespa fell 10% from Friday’s close, its first circuit breaker since the COVID-19 pandemic. A circuit breaker is an automatic pause meant to slow panic selling, but the index kept sliding after trading resumed. Investors had been positioning for the opposite result since Bolsonaro unexpectedly finished first in the Oct. 4 first round, with 47.03% of valid votes to Lula’s 45.16%. The Ibovespa jumped 7.85% the next day and EWZ gained more than 10% on bets that Bolsonaro would tighten public finances and open the way to lower interest rates. Monday’s drop erased that rally and, at its lows, left the Ibovespa about 11% below its Oct. 2 close. But Lula didn’t just beat Bolsonaro, he also beat prediction markets. Polymarket gave Bolsonaro an<a href="https://x.com/Polymarket/status/2114003200017575948" target="_blank" rel="nofollow external noopener" class="sc-adb616fe-0 dJryYS">> 82% chance</a> of winning the day before the vote, and Kalshi had him near 80% on Sunday morning. Both platforms are<a href="https://decrypt.co/resources/what-are-decentralized-prediction-markets-myriad-polymarket-kalshi" target="_blank" class="sc-adb616fe-0 dJryYS" rel="nofollow"> prediction markets</a>, where a contract that pays $1 if a candidate wins trades at 80 cents when traders see an 80% chance. Polling pointed to a coin flip rather than a favorite, with the latest Datafolha survey tied at 50% each among valid votes and CNT/MDA showing Bolsonaro ahead 50.5% to 49.5% in mid-October. Lula won 51.79% to 48.21%, a margin of about 4.4 million votes, according to Brazil’s Superior Electoral Court. Bolsonaro said on Sunday night that he does not recognize the result and will ask the courts to annul the election, after pledging in August to respect the outcome. He objected to Supreme Court Justice Cristiano Zanin’s decision to extend voting until 7 p.m. at the request of Lula’s campaign, which he said changed the rules midgame. His own campaign had separately asked for extr
Nexera Technologies reaches agreement with global aerospace and defense company to sell KeepZone AI
Nexera Technologies announced it has signed a definitive agreement with a global aerospace and defense company to sell KeepZone AI for up to $6 million, according to BiJie Network.
US fintech awareness survey: only 13% of respondents support blockchain development
Data from Bihaiwang: A U.S. financial technology awareness survey released by the DEFI education fund and market research firm Ipsos shows that 35% of respondents believe political candidates should support the development of next-generation U.S. financial technology, but when the question explicitly involves blockchain, cryptocurrency, and DEFI, that proportion is only 13%. The survey also shows that 74% of respondents believe the financial system needs improvement to enhance individuals' control over their money and assets, but only 9% say they are very familiar with cryptocurrency, and 5% have high trust in decentralized platforms. The proportion of U.S. adults who have ever held or used cryptocurrency rose from 18% in 2025 to 22%, but the proportion who have used it in the past year remains 13%. The survey was conducted from September 8 to 16, 2026, and covered 1,545 U.S. adults.
Financial Associated Press, October 27 — ADP data shows that in the four weeks ending October 10, U.S. private-sector employment rose by an average of 16,750 jobs per week.
CoinWorld news, Cailian Press, October 27: ADP data shows that in the four weeks ending October 10, U.S. private sector employment increased by an average of 16,750 jobs per week.
Norwegian Prime Minister: All partners and allies were informed before my call with Russian President Putin.
Norwegian Prime Minister: All partners and allies were informed before my call with Russian President Putin.
TOKEN2049: Payments give crypto super apps everyday use cases
At the TOKEN2049 Singapore conference, speakers said payment functionality can provide everyday use cases for crypto super apps, making up for the shortcomings of relying solely on token swaps. During the discussion, representatives from companies such as Metamask, Trezor, and WalletConnect explored how to bring crypto products to a broader audience. Aleksandra Korneva, co-founder of Rubic, pointed out that many token swap users do not have a reason for daily transactions. Alex Radu, CEO of Pulsar Money, believes that payments and trading are the foundation of applications that combine multiple financial services. Michelle Herman of CoinRoutes expressed caution about an app that can do everything, emphasizing that specialized services are still necessary. The discussion also covered how to balance automation and transparency, ensuring that users can still control important trading decisions while enjoying the convenience brought by AI.
U.S. ADP weekly employment change came in at 167,500.
CoinWorld data: The actual US ADP weekly employment change came in at 167,500, with no forecast provided and a previous value of 185,000.
BTC saw a net capital inflow of 917.2348 BTC over the past 24 hours.
BiJie.com data: BTC saw inflows of 8,854.7675 BTC and outflows of 7,937.5327 BTC over the past 24 hours, for a net inflow of 917.2348 BTC. This figure comes from the rolling 24-hour calculation of the same BTC fund distribution interface, with the net amount calculated as inflows minus outflows. It does not represent exchange net inflows, on-chain exchange flows, or institutional fund flows, and should not be conflated with deposit/withdrawal data from any single exchange. Compared with the same-caliber snapshot 24 hours ago, it is up 199.75%; compared with the same-caliber snapshot 7 days ago, it is down 22.83%.
World Bank President Banga told CNBC about global wariness toward AI.
World Bank President Banga said in an interview with CNBC that global wariness of artificial intelligence is rising.