The crypto landscape continues to evolve rapidly, with major developments in digital identity, exchange listings, institutional adoption, and blockchain-based financial services. Over the past 24 hours, key updates have emerged—from rebranding moves by high-profile projects to strategic product launches by traditional financial institutions. This article breaks down the most significant events shaping the industry right now.
World Network Rebrands and Launches World Chain Mainnet
In a pivotal shift, Worldcoin—the digital identity initiative backed by OpenAI CEO Sam Altman—has officially rebranded to World Network. The project has also launched its Ethereum Layer 2 blockchain, World Chain, on mainnet.
The rebrand reflects the project’s expanded vision beyond just a cryptocurrency. As the ecosystem grows, the original name no longer captured the full scope of its mission. Now built around three core pillars—World Chain, World ID, and the Worldcoin token—the network aims to create a global system rooted in verifiable human identity.
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World Chain is designed as a “human-only” community using OP Stack technology. It offers lower gas fees, enhanced application utility, and future governance participation for users. Notable partners supporting the launch include Optimism, Alchemy, Uniswap, Safe, Dune, and Etherscan—signaling strong ecosystem backing.
Additionally, World Network introduced a new credential called "Verified Passport", allowing users with government-issued IDs to partially access the network and apply for Worldcoin grants—even without full biometric verification.
OKX to List Banana Gun (BANANA) in Upcoming Spot Trade Launch
Major exchange OKX has announced the upcoming listing of Banana Gun (BANANA) for spot trading. The BANANA/USDT pair will go live on October 18, 2024, at 18:00 Beijing Time.
This listing marks a significant milestone for the BANANA ecosystem, increasing its visibility and liquidity across global markets. With growing interest in meme-inspired tokens that integrate gamified or community-driven utilities, BANANA’s addition to a top-tier exchange like OKX could catalyze broader adoption.
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While specific use cases for BANANA are still evolving, its listing underscores the ongoing trend of decentralized communities leveraging viral momentum to secure prime exchange placements.
BNB Beacon Chain to Halt Operations After Hard Fork
BNB Chain has confirmed that the BNB Beacon Chain will cease operations on November 19, 2024, following a scheduled hard fork at block height 384,544,850 (14:00 UTC). All node operators must upgrade to version 0.10.24 before this date.
After the fork, no new transactions will be processed on the Beacon Chain. This move is part of BNB’s long-term strategy to streamline its architecture and enhance scalability across its ecosystem. Developers and users are advised to prepare accordingly to avoid service disruptions.
DBS Bank Launches Tokenized Banking Services
Singapore’s leading financial institution, DBS Bank, has rolled out DBS Token Services, a new suite integrating blockchain technology into core banking functions.
This innovative offering combines tokenization and smart contract automation with traditional banking infrastructure. Key features include:
- Treasury Tokens: For efficient liquidity management.
- Conditional Payments: Enable programmable disbursements based on predefined triggers.
- Programmable Rewards: Automate incentive distribution for businesses.
Built on a private, Ethereum Virtual Machine (EVM)-compatible blockchain, the system connects with DBS’s core payment engine and multiple industry payment rails. According to Lin Shunzong, Head of Global Transaction Services at DBS, the platform empowers enterprises and public sector entities to “optimize liquidity, streamline operations, and unlock new engagement models.”
This marks one of the most advanced institutional forays into blockchain-based finance in Asia.
K Bank Withdraws $700M IPO Amid Crypto Exposure Concerns
South Korean digital bank K Bank has withdrawn its planned $700 million IPO just days before pricing was set. Originally slated to become the country’s largest public offering in over two years—with an estimated valuation of $3.6 billion—the decision comes amid investor concerns about its reliance on cryptocurrency-related deposits.
K Bank partnered with Upbit, South Korea’s largest crypto exchange, which contributed 16.8% of its total deposits as of June 2024. However, their partnership agreement expires in October 2025, raising questions about customer retention and platform sustainability post-contract.
The bank intends to relaunch its IPO in early 2025 after addressing structural concerns. This development highlights growing scrutiny around traditional finance’s entanglement with crypto ecosystems.
Binance Ends SCR Pre-Trading, Adds Scroll to Spot Markets
Binance has concluded pre-market trading for Scroll (SCR) and officially listed it on spot markets. Trading pairs including SCR/BTC, SCR/USDT, SCR/FDUSD, and SCR/TRY became available on October 22, 2024, at 16:00 (UTC+8).
SCR deposits are already open, withdrawals begin on October 23, and internal transfers resume on October 21. The token has also been assigned Binance’s “Seed” label, indicating early-stage potential with higher risk and growth prospects.
Scroll is an Ethereum Layer 2 zkEVM rollup focused on scalability and developer experience. Its integration into Binance’s ecosystem boosts accessibility for retail investors and signals confidence in its long-term viability.
Trump-Linked WLFI Project Allocates 75% Net Income to Family
Newly revealed documents show that World Liberty Financial (WLF), a crypto project linked to Donald Trump’s family, will allocate 75% of net protocol income to a Delaware-based entity controlled by the Trump family—DT Marks DEFI LLC.
Notably, the Trumps will receive these earnings without holding formal roles in the company or bearing operational responsibilities. They are also set to receive 22.5 billion WLFI tokens, valued at approximately $337.5 million at current prices.
The remaining 25% of revenue goes to Axiom Management Group (AMG), co-founded by WLF creators Chase Herro and Zachary Folkman. AMG has agreed to share half of its proceeds with associates of Trump ally Steve Witkoff.
Despite political associations, WLF emphasizes that the project is “not affiliated with any political activity.”
Morgan Stanley Holds $272M in Bitcoin ETFs
According to U.S. SEC filings reported by Bitcoin Magazine, Morgan Stanley holds $272.1 million worth of spot Bitcoin ETFs. This positions one of Wall Street’s largest investment banks as a significant institutional player in the digital asset space.
The holding reflects growing acceptance of Bitcoin as a legitimate asset class among traditional finance giants, further validating the long-term investment thesis behind cryptocurrency adoption.
Core Keywords
- World Network
- OKX BANANA listing
- DBS token services
- Morgan Stanley Bitcoin ETF
- Scroll SCR
- WLFI Trump project
- BNB Beacon Chain shutdown
- K Bank IPO withdrawal
Frequently Asked Questions (FAQ)
Q: What is World Network replacing Worldcoin?
A: World Network is a rebranding of Worldcoin to reflect its broader mission encompassing digital identity (World ID), blockchain infrastructure (World Chain), and tokenomics. It aims to build a human-verified network for AI and web3 applications.
Q: Why did K Bank cancel its IPO?
A: Investor concerns over its dependence on crypto exchange Upbit—whose deposits make up nearly 17% of K Bank’s total—led to the withdrawal. The bank plans to relist in early 2025 after resolving structural dependencies.
Q: Is Trump directly involved in WLFI?
A: No. While his family benefits financially through DT Marks DEFI LLC, the project states he holds no official role and is not involved in operations or management.
Q: What does DBS Token Services mean for businesses?
A: It enables companies to issue treasury tokens, automate conditional payments via smart contracts, and run programmable reward systems—streamlining finance operations using blockchain.
Q: When will BNB Beacon Chain stop working?
A: On November 19, 2024, after a mandatory hard fork. Node operators must upgrade to v0.10.24; otherwise, they’ll lose connectivity.
Q: Where can I trade Banana Gun (BANANA)?
A: OKX launched spot trading for BANANA/USDT on October 18, 2024. It's now accessible globally through the platform.
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