In a significant development for the blockchain sector, Tempo, a startup supported by Stripe, has successfully closed a $500 million Series A funding round, bringing its valuation to an impressive $5 billion. This funding round was spearheaded by Thrive Capital and Greenoaks, with notable participation from Sequoia, Ribbit Capital, SV Angel, and others. Tempo, co-developed by Stripe and Paradigm, is focusing on stablecoin payment infrastructure. The firm counts OpenAI, Shopify, and Visa among its partners and aims to establish U.S. dollar stablecoins as a foundational layer for global payment systems. Additionally, Dankrad Feist, a prominent Ethereum developer, has decided to leave the Ethereum Foundation to join Tempo, emphasizing the project’s commitment to natively integrating stablecoin issuance and settlement functionalities.
In a separate regulatory context, Ondo Finance has formally addressed the U.S. Securities and Exchange Commission (SEC) with a request to either delay or reject Nasdaq’s proposed trading scheme for tokenized securities. The firm has raised concerns that the proposal lacks transparency regarding vital settlement details potentially advantageous to larger institutions. They assert that without a clear understanding of the blockchain settlement mechanism from the Depository Trust & Clearing Corporation, stakeholders and regulators cannot adequately assess the proposal’s implications. The SEC is currently reviewing this request, with a decision anticipated as early as November.
Eric Trump has also entered the blockchain space, revealing plans to launch a real estate tokenization project in partnership with World Liberty Financial. This initiative will include a building under development and may utilize the institution’s stablecoin, USD1. The project aims to democratize real estate investment by enabling public participation with minimum investments starting at $1,000. Investors will gain partial ownership and additional benefits, including hotel-related perks, thereby bypassing traditional financial institutions.
In the decentralized finance landscape, the Perp DEX has experienced a significant downturn in open interest, dropping from $26 billion to under $14 billion following a flash crash on October 11. Interestingly, that same day marked a record for lending fees, surpassing $20 million, while weekly trading volumes for decentralized exchanges soared past $177 billion. Total borrowings on cross-chain lending platforms dipped below $50 billion for the first time since August, with the APY for staked Ethereum (stETH) briefly exceeding 7%.
Looking ahead, OpenSea, the leading NFT marketplace, has announced plans to launch its SEA token by the first quarter of 2026. CEO Devin Finzer disclosed that 50% of the total token supply will be allocated to the community, prioritizing early adopters and those engaged in its reward programs. SEA’s launch will introduce new usage opportunities, including staking functions, and incorporate a mechanism where 50% of SEA’s revenue is directed towards purchasing the token to ensure its value.
In another notable initiative, Ripple Labs is orchestrating a remarkable $1 billion funding round through a Special Purpose Acquisition Company (SPAC) to establish a digital asset treasury that will accumulate XRP. The company plans to contribute a portion of its own XRP to this treasury.
Lighter CEO revealed during a recent Ask-Me-Anything (AMA) session that their platform will debut its spot market by late October or early November, featuring major cryptocurrencies like Bitcoin and Ethereum. The company aims to maintain competitive trading fees and will support connections to major DeFi protocols. Furthermore, the initial airdrop will see a generous distribution of 50% of total tokens, emphasizing community engagement.
Meanwhile, the Believe launchpad has announced the upgrade of its LAUNCHCOIN token to BELIEVE. Current holders can exchange LAUNCHCOIN for BELIEVE at a 1:1 ratio over the next month, after which unexchanged coins will be burned. The total supply of BELIEVE has increased by 25%, directing portions of this supply towards contributors and early investors while retaining funds for on-chain buybacks.
Jupiter plans to overhaul its governance structure, transitioning to a high-impact governance model and reducing the number of proposals. Community members will conduct a vote on whether to burn 121 million repurchased $JUP tokens, representing around 3.8% of the circulating supply, as well as decide on future revenue management plans.
Lastly, Thumzup Media is contemplating the integration of Dogecoin (DOGE) reward payments within its app. This initiative, which currently offers cash rewards for sharing product content, aims to lower transaction fees and streamline small cross-border payments. The CEO outlined the potential benefits of integrating DOGE to enhance the reward system’s scalability and attract a larger base of cryptocurrency-friendly users.
