Elon Musk's flying Tesla Roadster unveiling boosts tokenized TSLA

Elon Musk unveils a flying Tesla roadster and crypto traders pile in before Wall Street wakes up. This is CoinDesk Daily. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com slash the stack. Unlock deeper insight into digital asset vault risk. The new vault risk assessment from S&P Global Ratings helps bring institutional-grade transparency to on-chain investing. Visit spglobal.com slash ratings. Traders rushed into Tesla-linked crypto markets after Elon Musk showed off a flying version of the Roadster, which uses SpaceX thruster technology. With U.S. stock markets closed, Hyperliquid's Tesla Perpetual became one of the only ways to bet on the news. The contract rose about 4.9% to roughly $378, and hourly trading volume jumped to almost 1,600%. Tesla reports earnings on October 21st. Circle, the company behind USDC, plans to expand into about 50 emerging and developing markets as demand for digital dollars grows. CEO Jeremy Allaire told Reuters that businesses and individuals across Southeast Asia, Latin America and the Middle East are increasingly turning to stablecoins for payments. USDC has about $72.6 billion in circulation, roughly a quarter of the stablecoin market. And a federal judge rejected a joint request from Gemini and the CFTC to overturn a $5 million settlement, even though the regulator said the case should have never been brought. Judge Alvin Hellerstein ruled that the CFTC reversing its position wasn't enough to undo Gemini's January 2025 settlement, which the Winklevoss-founded exchange had already paid. Gemini must live with the terms as it pulls back from Europe and shifts its business towards the U.S. market. Get more updates on CoinDesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com slash the stack. Unlock deeper insight into digital asset vault risk. The new vault risk assessment from S&P Global Ratings helps bring institutional-grade transparency to on-chain investing. Visit spglobal.com slash ratings.