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2026-10-19 · 4 high-impact headlines

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  1. Trump's approval rating drops to 33%, Republicans under pressure ahead of US midterm electionsBlockBeats news, October 19 - With two weeks until the U.S. midterm elections, Republicans are facing a severe political situation. According to a poll conducted jointly by The Washington Post, ABC News, and Ipsos, U.S. President Trump's approval rating has fallen to a new low, and as inflationary pressures intensify and voter sentiment grows increasingly dissatisfied, Democrats are gaining support in the battle for congressional control. Trump's approval rating currently stands at 33%, with a disapproval rating of 66%; among them, 52% of respondents said they strongly disapprove of his performance. This approval rating is down 8 percentage points from the same period last year and is lower than at any point during his first term. The poll also found that for the first time in more than a decade, Democrats have gained higher voter trust than Republicans on the issue of economic governance. The overall results of this new poll show that American voters have lost confidence in the president, are deeply concerned about Trump's decision to launch a war against Iran, and are bearing the economic impact of the war, especially the hit to household finances from rising gasoline prices.
  2. Allium Report: Stablecoin Payment Volume Reaches $482 billion in First Three Quarters, Up 45% Year-over-YearBlockBeats news, October 19 - The latest report released by blockchain analytics firm Allium shows that although stablecoin supply has barely grown this year, the frequency of use and transaction scale of existing circulating stablecoins in the payments sector have both increased. The report notes that in the first nine months of 2026, stablecoin payment volume reached $482 billion, up 45% year-over-year. This growth stands in sharp contrast to the overall performance of the stablecoin market. Report data shows that as of the end of September, the total circulating market capitalization of stablecoins pegged to fiat currencies such as the US dollar was approximately $305 billion, up only 0.4% from the beginning of the year. During the same period, the number of stablecoin payment transactions grew even more significantly, rising 71% year-over-year to over 1 billion transactions. This indicates that even with limited new supply entering the market, stablecoins are still being used more frequently for transactions and payments. Stablecoin-linked payment cards have also shown rapid growth. Allium data shows that as of September, cumulative spending on such cards reached $3.9 billion, 10 times that of the same period last year. Among these, small-value purchases under $50 accounted for 84% of the incremental increase in card transaction volume. Three announcements earlier last week demonstrated how stablecoins are further integrating into the global payments system. Mastercard announced on Thursday that it has launched the Global Money Platform with BVNK, the stablecoin infrastructure company it acquired in August. The platform integrates traditional currency accounts, stablecoin balances, currency exchange, card spending, and bank transfer acceptance functions through a single interface. Stripe announced it is collaborating with blockchain-based financial services company Plasma to develop payment cards supporting balances in currencies including the US dollar, euro, Brazilian real, Mexican peso, and Colombian peso, as well as eligible stablecoins. Visa said that Inyo Global, which provides payment orchestration services to fintech companies, remittance institutions, and banks, has become the first service provider to put Visa Direct's stablecoin pre-funding service into commercial operation.
  3. BlackRock's tokenized money market fund BUIDL reaches $2.3 billion in assets under management, plans to expand collateral use cases.BlockBeats news, October 19 - According to Bloomberg, BlackRock, the world's largest asset management company, is exploring expanding the application of tokenized assets from the crypto market to traditional finance, enabling them to serve not only as collateral but also for payments. BlackRock is shifting its focus from issuing stocks, bonds, and money market funds on blockchain networks to improving the transfer methods and collateral uses of these assets. Through tokenization, investors can directly transfer their holdings to other investors or use them as trading collateral without first redeeming them for cash. BlackRock is also continuously expanding its layout of tokenized products. The company's tokenized money market fund BUIDL, launched in 2024, has seen its assets under management grow to approximately $2.3 billion, and it has since launched related products in the United States and Europe, and in September this year received approval to launch a Hong Kong dollar-denominated digital liquidity fund. However, the ability of tokenized assets to transfer around the clock on blockchain networks does not mean they can be redeemed for cash at any time. The International Monetary Fund has pointed out that fragmentation between different platforms and legal uncertainties are the main factors hindering the development of tokenized assets. The International Swaps and Derivatives Association (ISDA) also stated that issues such as custody arrangements, collateral rules, and cross-border legal recognition still need to be resolved. Nikhil Sharma, a director on BlackRock's digital assets team, said that early users of tokenized funds were mainly crypto market participants who wanted to earn yield while holding stablecoins. He added that the key is to establish relevant linkage mechanisms so that traditional financial institutions can use tokenized products without building separate systems, and it is expected that the application scope of related products will further expand over time.
  4. Unitree Technology rises over 10%, with trading volume exceeding $1.5 billion.BlockBeats news, October 19, according to market data, Unitree Technology rose over 10%, currently reported at 472 yuan, with a trading volume exceeding 1.5 billion yuan.
  5. China's Ministry of Commerce and nine other departments: Deeply implement the "AI + Manufacturing" special initiative, encourage the R&D and application of intelligent products based on secure and reliable open-source operating systems.BlockBeats news, October 19 - China's Ministry of Commerce and eight other departments have issued opinions on accelerating the advancement of technology-driven commerce. The opinions propose promoting the iterative upgrading of commodity supply. Deeply implement the "AI + Manufacturing" special initiative, accelerate the deep integration of AI technology with product R&D, design, manufacturing, and marketing, and enrich the supply of smart goods such as smartphones, computers, home appliances, wearable devices, and robots. Encourage the R&D and application of smart products based on secure and reliable open-source operating systems. Accelerate the transformation and upgrading of historical classic industries and develop classic famous products and premium goods. Build a matrix of Chinese consumer famous brands and identify consumer famous brands featuring independent innovation and high-end quality. Vigorously develop technology-driven agriculture and promote the quality and efficiency improvement of premium specialty agricultural products. Promote the integrity-based innovative development of time-honored brands and support time-honored brand enterprises in using modern production technologies for product innovation.
  6. Changxin Technology fell more than 8% in early trading, dropping to 41 yuan, hitting a recent low.BlockBeats news, October 19 - According to Bitget market data, Changxin Technology fell more than 8% in early trading to 41 yuan, hitting a recent low. It is currently down 6.5% at 42.1 yuan per share. On the news front, Changxin Technology announced on October 16 that it expects revenue for the first three quarters to be 265 billion yuan to 270 billion yuan, an increase of 232.916 billion yuan to 237.916 billion yuan compared with the same period last year; it expects net profit attributable to shareholders of the parent company to be 131 billion yuan to 132.5 billion yuan, an increase of 136.280 billion yuan to 137.780 billion yuan compared with the same period last year. In the same period last year, Changxin Technology (688825) reported revenue of 32.084 billion yuan for the first three quarters and a net profit attributable to owners of the parent company of -5.280 billion yuan. Changxin Technology also announced that Chairman Zhu Yiming proposed a share buyback of 1 billion to 2 billion yuan for employee equity incentives, employee stock ownership plans, or reduction of registered capital.
  7. PAPER perpetual contract debuts with over $12.9 million in trading volume within 11 hours, open interest at $4.58 million.BlockBeats news, October 19: Papertrade (PAPER) perpetual contracts have been live on the Hyperliquid HIP-3 market for 11 hours, reaching a high of $0.035 and currently trading at $0.025. The 11-hour contract trading volume exceeded $12.9 million, with open interest at $4.58 million. The contract has generated over $6,000 in fee revenue for HIP-3 deployer Paragon, accounting for more than 5% of its total revenue. According to Paperdash data, PAPER's current total supply is approximately 8.65 billion tokens, of which about 8.58 billion have been staked. At the current price of approximately $0.025, the corresponding fully diluted market capitalization is approximately $212 million. The token is currently not freely transferable and can only be staked to earn protocol USDC yield, with approximately $54.02 million cumulatively distributed to stakers. Papertrade is an on-chain synthetic perpetual contract trading platform deployed on HyperEVM, offering leverage of up to 1000x. Its token PAPER is minted through users' realized trading losses, with no pre-mine, team, or venture capital allocation.
  8. Michael Saylor proposes 'perfect' digital currency vision: a dollar-pegged, Bitcoin-backed stablecoin offering 6% to 8% yield.BlockBeats news, October 19 — Strategy CEO Michael Saylor outlined his vision for a "perfect" digital currency at ParaFi's investor day: a stablecoin pegged to the US dollar and backed by Bitcoin that could offer yields of about 6% to 8%. He said this would be the next step for digital capital and digital credit products.