Elon Musk's Flying Tesla Roadster Unveiling Boosts Tokenized TSLA | CoinDesk Daily

Elon Musk’s unveiling of a Tesla Roadster using SpaceX thruster technology drew traders into Tesla-linked crypto markets while U.S. stock markets were closed. On Hyperliquid, the Tesla Perpetual rose about 4.9% to roughly $378, while its hourly trading volume jumped almost 1,600%, showing how the event coincided with a sharp burst of activity in a tokenized Tesla market.

The move came ahead of Tesla’s scheduled October 21 earnings report. The Roadster unveiling and the trading response took place outside regular U.S. stock-market hours, when Tesla shares were unavailable to trade through conventional markets.

Circle plans to expand into about 50 emerging and developing markets as demand for digital dollars grows. CEO Jeremy Allaire said businesses and individuals in Southeast Asia, Latin America and the Middle East are increasingly using stablecoins for payments. USDC has about $72.6 billion in circulation, roughly a quarter of the stablecoin market.

A federal judge rejected Gemini and the Commodity Futures Trading Commission’s joint request to overturn Gemini’s $5 million settlement. Although the CFTC argued the case should never have been brought, Judge Alvin Hellerstein ruled that the agency’s reversal of position was not enough to undo the agreement. Gemini had already paid the settlement and must live with its terms as it pulls back from Europe and shifts its business toward the U.S. market.