# Trenches Today — October 25, 2026

Canonical edition: https://trenchestoday.xyz/editions/2026-10-25
Published: 2026-10-25T05:03:55.551Z
Updated: 2026-10-25T05:03:55.551Z
Edition: 20261025
Revision: 1
Content hash: 4c3470ec4409641480ad74d00914b0a7a3692f2e68d3f222173c9aba64f5e3dc

> The Central Bank of Ireland penalized Coinbase Ireland €3.25 million for breaching safeguarding and outsourcing rules.

## Lead story: Irish Central Bank Fines Coinbase Ireland $3.6M Over Safeguarding Failures

The Central Bank of Ireland penalized Coinbase Ireland €3.25 million for breaching safeguarding and outsourcing rules.

- Regulators cited failures in customer fund safeguarding and outsourcing controls.

Original source: [coindesk](https://www.coindesk.com/policy/2026/10/22/irish-central-bank-fines-coinbase-ireland-usd3-6-million-over-fund-safeguarding-failures)

## Complete edition

### DeFi & Stablecoins

#### Central Banks of Malaysia and Thailand Join Singapore's Stablecoin Initiative

Topic: DeFi & Stablecoins · Signal: rails

Malaysia and Thailand have joined Singapore's BLOOM project to test cross-border stablecoin and tokenized deposit settlements.

Edition link: https://trenchestoday.xyz/editions/2026-10-25#story-story_71cb868d6310cc945642
Original source: [the-block](https://www.theblock.co/news/regulation/2026-10-23-singapore-malaysia-and-thailand-central-banks-expand-cross-border-stablecoin-initiative-involving-ripple-visa-and-mastercard-426492)

#### Stablecoins Examined for Institutional Wealth Advisor Adoption

Topic: DeFi & Stablecoins · Signal: rails

Industry analysis evaluates stablecoin readiness for wealth advisors and prime-time adoption.

Edition link: https://trenchestoday.xyz/editions/2026-10-25#story-story_572185ec405ea0b87d31
Original source: [coindesk](https://www.coindesk.com/coindesk-indices/2026/10/22/crypto-for-advisors-stablecoins-are-ready-for-prime-time)

#### Phantom Integrates Kalshi Prediction Markets Funded with CASH Stablecoins

Topic: DeFi & Stablecoins · Signal: rails

Phantom wallet users in the US can now access Kalshi prediction markets funded directly with CASH stablecoins.

Edition link: https://trenchestoday.xyz/editions/2026-10-25#story-story_960963be11d881efe37f
Original source: [the-block](https://www.theblock.co/news/markets/2026-10-23-phantom-rolls-out-kalshi-prediction-markets-us-421652)

### Industry & Other

#### Fireblocks Denies $2.5B Visa Acquisition Reports

Topic: Industry & Other · Signal: rails

Crypto custody firm Fireblocks denied an Axios report claiming Visa is in acquisition talks valued at around $2.5 billion.

Edition link: https://trenchestoday.xyz/editions/2026-10-25#story-story_7d2e3ae193ba7fea893c
Original source: [the-block](https://www.theblock.co/news/deals/2026-10-22-visa-in-talks-acquire-crypto-custody-firm-fireblocks-around-2-5-billion-axios-421926)

#### Dune Launches Real-Time Market Feeds Across 12 Blockchain Networks

Topic: Industry & Other · Signal: rails

Dune rolled out real-time market feeds tracking trading data across more than 200 onchain venues.

Edition link: https://trenchestoday.xyz/editions/2026-10-25#story-story_0c47b7ee89a53225381a
Original source: [the-block](https://www.theblock.co/news/business/2026-10-22-dune-onchain-trading-data-feeds-421889)

## Corrections

No corrections recorded for this revision.

## Use and attribution

Trenches Today is a source-linked editorial synthesis. Cite the canonical edition URL and retain links to the original reporting when referring to a specific claim.