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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
ACI Worldwide partners with Circle to integrate USDC into Latin American payment infrastructure
CoinWorld news: Global payments technology company ACI Worldwide and stablecoin issuer Circle have announced a partnership to explore integrating stablecoin settlement capabilities such as USDC into existing banking and payment infrastructure in Latin America, with an initial focus on Colombia. The two parties plan to combine ACI's cloud-native payments platform ACI Connetic with Circle's USDC infrastructure to demonstrate how stablecoin settlement can operate alongside traditional payment processes, helping financial institutions evaluate relevant settlement models within their existing operating systems without the need to build a separate digital asset payment system. The partnership is currently mainly at the stage of technical demonstration and application evaluation, and no official commercial launch timetable has been disclosed.
On-chain activity suggests a BSC project may have been exploited, with 24.66K USDT flowing to Tornado Cash.
According to a CoinWorld report, OnchainLens reports that on-chain activity shows funds from multiple kernel contracts on BSC were transferred through an intermediary wallet, then bridged and sent to Tornado Cash. At least $24,660 (about 24.7K USDT) is currently visible in the tracked transactions. The investigation is still ongoing, and we are identifying the related addresses. The exploiter address is 0x8b001d7378dbc19c1c62e39c0fc9ffad84182fba.
The protocol reported $67.1112 million in fees over the past 24 hours.
CoinWorld data: Within the scope, the protocol's fees over the past 24 hours were $67.1112 million, an increase of 10.66% compared with the previous statistical period under the same methodology.
Boeing said the 777X is still expected to achieve its first delivery in 2027, and the 737 continues to make progress toward the goal of stable production of 47 aircraft per month, Cailian Press reported on October 27.
CoinWorld news, Cailian Press, October 27: Boeing said the 777X is still expected to be first delivered in 2027, and the 737 continues to advance toward the goal of stable production of 47 aircraft per month.
U.S. emergency oil reserves fall to lowest level since 1982, Brent crude remains above $115
CoinWorld data: U.S. emergency oil reserves fell to 282.6 million barrels, the lowest level since 1982, while Brent crude oil prices remained above $115. U.S. emergency oil inventories have dropped to their lowest level in 44 years, shrinking the supply buffer even as Washington approved additional oil releases. According to Department of Energy data, the Strategic Petroleum Reserve fell to 282.6 million barrels in the week ending October 23. The latest decline comes as Washington authorizes additional emergency oil supplies, while traders are weighing whether diplomatic efforts can contain the energy crisis.
Boeing's third-quarter revenue was $24.188 billion, exceeding the expected $23.840 billion.
According to a report by Reuters, Boeing's third-quarter revenue was $24.188 billion, exceeding the $23.840 billion expected by Ibes.
The crypto industry invested approximately $176 million in the U.S. midterm elections.
According to Cointelegraph, the crypto industry has spent approximately $176 million in the U.S. midterm elections, participating in more than 100 races, aiming to build bipartisan support in Congress.
India's diesel exports are surging, which is expected to ease the global supply tightness next year.
India's diesel exports are expected to grow significantly next year, helping to ease global supply tightness. Indian Oil Minister Hardeep Singh Puri said on Tuesday that with new refining capacity coming online, state-owned refiners will add at least 15 million tons of annual diesel production capacity. He noted that India will not only be able to meet domestic demand but also provide much-needed supply to the global market.