Crypto News

Machi Big Brother (Huang Licheng) sold three Mutant Ape Yacht Club (MAYC) NFTs on OpenSea on 23 October for 1 ETH each. Lookonchain said two of the NFTs had been bought three years ago for 6.13 ETH and 7.5 ETH, implying an approximately 85% loss on those two purchases. Its stated loss figure does not match the difference between the cited purchase and sale prices. As of 24 October, Machi Big Brother’s Hyperliquid account had an estimated net value of $21,700 and held a 315 ETH long position with 25x leverage. The position’s liquidation price was $2,336.93, less than 1% below ETH’s reported market price of about $2,359. Lookonchain suggested the NFT sales were to fund further trading, but the article said it provided no transfer record confirming that explanation. The sale is notable as a sign of pressure on one highly leveraged trader, rather than a clear signal for the wider crypto market.

Micron Technology plans to introduce a new generation of high-bandwidth memory (HBM) every year through 2030, as it focuses its memory roadmap on artificial intelligence and high-performance computing. The plan runs from HBM4 in 2026 to HBM6 in 2030, with custom HBM and vertical HBM expected from 2028. Micron says its vertical HBM, or vHBM, is designed to deliver about 2 TB/s of bandwidth while using less than 1 picojoule per bit. The company is also exploring flash storage that GPUs can access more directly, potentially expanding the pool of data available to AI systems at lower cost than HBM. Micron expects its 1δ DRAM node and G11 NAND to enter volume production in the second half of 2027. It projects mid-20% higher DRAM bit density, while G11 NAND—with more than 400 layers—is expected to offer roughly twice G9’s bit density, faster I/O and over 25% lower energy use per data transfer. Micron expects memory supply to remain tight through fiscal 2028. Strategic customer agreements reportedly cover nearly 35% of sales through 2030. The roadmap signals growing demand for AI memory, but production delays, yield challenges and any slowdown in AI investment could affect delivery and adoption.

The article argues that rising government spending and limited financial transparency are persistent problems across US federal, state and local governments. Spending has continued to grow under both major political parties, despite calls for cuts. It suggests assigning revenue owners to specific government units as one way to improve accountability and make government spending easier to track. The article excerpt does not provide detailed implementation plans or quantify potential savings.

Ben Horowitz and Andrew Chen discuss how AI is changing entrepreneurship and venture capital. Horowitz says AI may make companies easier to launch, but founders still need to make decisions amid uncertainty, build momentum and manage self-doubt. They examine whether small teams can create billion-dollar AI startups, how defensibility may work in AI, and why applications could become less central as agents interact directly with data. Horowitz also says strong founders need not be well-rounded in every area; an exceptional strength or insight can set them apart. The discussion offers a perspective on AI startups and company-building, rather than reporting a specific funding deal or market event.

A proposed US Securities and Exchange Commission (SEC) exemption for tokenized securities has triggered a debate over which blockchains qualify as “public and permissionless.” Eligible firms could operate tokenized US stock trading platforms under specific conditions without registering as traditional securities exchanges. TSV LLC, OKXICE and Kephas Corp. have notified the SEC of plans to use Canton Network or an Ethereum Layer 2. The Solana Policy Institute wants stricter tests of who controls transaction validation, censorship and rule changes. Hedera supports broader eligibility, including public networks with permissioned validator nodes. Wall Street group SIFMA has also called for clearer standards. SEC officials say firms may begin operating 30 days after filing a notice; the agency will not approve each blockchain individually. That process does not amount to regulatory endorsement of a network. The SEC is reviewing feedback and may issue further guidance. The dispute could affect which networks gain access to US tokenized-securities markets, but it does not establish an immediate market-wide benefit for any one blockchain.

A wallet linked by Arkham to Irish drug dealer Clifton Collins transferred 500 BTC on October 20, worth about $41.52 million, after more than 10 years of inactivity. Lookonchain reported that the coins were sent to an address Arkham labels as a Coinbase Prime deposit address, then split into 42 transactions. This is the fifth 500-BTC transfer from Collins-linked wallets this year, bringing the total moved to 2,500 BTC. Arkham estimates about 3,500 BTC, worth roughly $288 million, remain in the wallets. Irish authorities publicly confirmed a seizure involving 500 BTC in March, but have not commented on the four later transfers or said who controls the keys. Arkham considers law enforcement the most likely operator, though this remains unconfirmed. The renewed movement of long-dormant BTC could draw trader attention, but the transfers alone do not establish that the coins have been sold.

Rising oil prices and renewed concerns about artificial intelligence gave global markets a risk-off tone this week, according to Russell Investments’ Canadian investment strategy head, BeiChen Lin. The uncertainty around energy costs and AI weighed on investor sentiment. The outlook is not uniformly negative. U.S. corporate earnings growth remains strong and is spreading beyond the Magnificent Seven technology stocks. In Canada, softer inflation and fragile economic growth suggest the Bank of Canada is unlikely to sustain a prolonged interest-rate hiking cycle.

A Polygon multisig wallet identified as 0xFA5 transferred 52.928 million POL, worth about $4.82 million, to a staking contract, according to Arkham monitoring. The transaction adds a sizable amount of POL to staking, though the report does not specify whether it is connected to the rewards programme. Polygon previously said that, under proposal PIP-92, 27.3 million POL in accumulated fees would support staking rewards from October 1 to December 1.

Crypto funding and crypto-linked companies announced $1.7626 billion across eight disclosed financings from Oct. 17–23, 2026. Tenstorrent’s $1.5 billion Series E, which valued the AI computing firm at $6.2 billion, accounted for about 85% of the total. Tether was among the investors, though its contribution was not disclosed. Whop raised $200 million in a Series D led by Sequoia and Shopify Ventures at a $5.1 billion valuation. Other disclosed deals included a $30 million investment in Erebor Bank, Tether-led payment infrastructure startup Mural’s $15 million Series A, and smaller rounds for Dataline, Nectar Group, Hylo and X Pay. Tether also backed Bolivian fintech Peso in an undisclosed pre-seed round. Lighthouse and Sonic Labs disclosed funding or a token-related agreement without stating an amount, so neither was included in the total. The headline crypto funding figure is dominated by AI infrastructure rather than blockchain-specific ventures, while several smaller deals target payments, digital assets and crypto infrastructure.

Palantir is heading into its Q3 earnings report with strong operating momentum, but its premium valuation leaves little room for disappointment. The company has reported 93% revenue growth and a 62% adjusted operating margin, while U.S. commercial revenue surged 149%. Its $4.9 billion contracted backlog offers a measure of potential future revenue, and expanding customer relationships suggest demand for its AI software remains strong. The analysis maintains a Buy rating, arguing that Palantir’s growth and software economics support the investment case. However, a reverse discounted cash flow analysis indicates the valuation requires free cash flow to grow about 32% annually over the next decade. Traders will be watching Q3 results and management’s outlook for signs that AI demand and commercial growth can sustain expectations.

BTCC reported $387 billion in futures trading volume in Q3 2026, while trading in its TradFi-linked category rose to $16.3 billion from about $2.7 billion in Q2. The exchange said the figures reflect growing demand for products tied to traditional markets. These are company-reported metrics, not an independent audit. BTCC futures volume represents the notional value of contracts traded, not the amount of cash deposited or newly entering the exchange. Derivatives linked to stocks, indices or commodities also do not grant ownership of the underlying assets and can carry leverage, margin and counterparty risks. Traders should weigh liquidity, spreads, risk controls and withdrawal arrangements alongside headline volume and reserve claims.

Bitcoin fell below $82,000 as worries about AI infrastructure financing weighed on technology stocks and risk assets. US spot Bitcoin ETFs recorded $635.6 million in net outflows on Thursday, their largest single-day withdrawal since June, while leveraged crypto positions were heavily liquidated. QCP Capital said credit stress in the AI infrastructure sector is raising concerns about financing costs and investment returns. Arthur Hayes said he had sold his ETH, ENA, UNI and other altcoin positions and would wait for clearer signals before returning to the market. Other developments offered mixed signals. Weekly spot Bitcoin ETF flows remained positive, adding 5,183 BTC and bringing 2026 cumulative flows back into positive territory. In regulation, the SEC said its 2027 examination priorities would include tokenization and emerging technologies. Separately, an attack prompted Initia to halt its Layer 1 and Rollup networks, with Upbit and Bithumb suspending INIT deposits and withdrawals. Argentina’s courts also dropped a criminal investigation into President Javier Milei and his sister over the LIBRA token case.

The US Office of the Comptroller of the Currency (OCC) has issued final rules under the GENIUS Act for stablecoin issuers, with the rules due to take effect on January 18, 2027. The OCC’s stablecoin rules remove an automatic extension that could have allowed redemption processing to stretch to seven calendar days when demand exceeded a threshold. Qualified redemption requests will generally have a maximum processing time of two business days, excluding weekends and federal holidays. Issuers must notify their OCC supervisory office within 24 hours if redemption requests for a single brand exceed 10% of its tokens in circulation in a 24-hour period. Regulators, rather than issuers, will decide whether processing time can be extended. Issuers also cannot delay redemptions because of onboarding deficiencies. Revised confidential reports will track unpaid tokens, average redemption times and the value of requests taking longer than two business days. Initial weekly and quarterly reports are scheduled for January 25 and March 31, 2027, respectively, subject to approval by the Office of Management and Budget.

Crypto markets faced mixed signals during the week of Oct. 18–24. US spot Bitcoin ETFs saw $635.49 million in net outflows on Oct. 22, ending three sessions that had brought in about $1.08 billion. Bitcoin traded near $81,450 after retreating from a recovery attempt toward $85,000, while broader market liquidations reached about $406 million in 24 hours. US regulators finalized stablecoin rules under the GENIUS Act. The rules take effect on Jan. 18, 2027, and establish requirements for reserves, redemptions, custody and issuer oversight. Anti-money laundering and sanctions rules remain subject to separate rulemaking. Solana activated its Alpenglow consensus system on Oct. 21. It targets roughly 150-millisecond finality, while leaving transaction execution and fees unchanged. Strategy added 267 BTC, bringing its holdings to 848,517 BTC, and Strive completed a $630 million preferred-stock offering with a stated 15% annual dividend rate. Other developments included BlackRock’s proposed Bitcoin options fund, JPMorgan’s launch of tokenized funds on Solana, and Standard Chartered’s agreement to acquire Zodia Custody, subject to approvals. Ethereum postponed its Hoodi testnet upgrade while developers examine smart-contract risks. Separately, Initia halted its network after a security incident; a researcher alleged unauthorized token minting and estimated about $2.6 million had been cashed out. Overall, Bitcoin ETF outflows weighed on near-term sentiment, while regulatory clarity and infrastructure developments offered longer-term support.

Arkham says wallets linked to the Bitget hack moved $19.48 million in 52 transfers from Oct. 21 to Oct. 24. Bitcoin accounted for $19.33 million, or about 99.2%, while the remainder was in ETH. Almost all funds went to new addresses, but Arkham did not identify their recipients or confirm laundering, selling or cashing out. The transfers form part of $78.01 million sent to new addresses since Oct. 15. Arkham valued the hacker-linked wallets’ remaining holdings at $242.54 million, mainly 2,960.01 BTC. That equals about 69% of Arkham’s $350 million theft baseline, or 62.6% of Bitget’s revised $387.5 million estimate; these figures do not indicate how much has been recovered. The movements may renew attention to exchange security and create potential selling concerns if the BTC reaches markets. However, the destinations and any sales remain unconfirmed. Bitget says withdrawals have resumed, customer balances were unaffected, and its Protection Fund would cover the loss.

Arthur Hayes says he has closed Maelstrom’s directional trading book and will stay on the sidelines because of macroeconomic and geopolitical uncertainty. The announcement reverses his earlier public stance that the fund was at maximum risk exposure. Blockchain tracker Lookonchain reported sales worth about $22.28 million across seven tokens: ETH, ENA, UNI, ETHFI, AERO, PENDLE and ZAMA. ETH made up the largest share, with 6,400 ETH valued at $15.2 million—about 68% of the reported total. The figures reflect estimated token values, not verified profits or exact execution proceeds. Hayes described the sales as profit-taking but did not disclose purchase prices or a timeline for re-entering the market. For traders, Hayes’s exit is a risk-off signal, particularly for ETH, but it does not establish that Maelstrom has sold all its holdings or indicate a broad market shift. The reported transactions were not independently reconciled, and Hayes gave no price targets.

A Seeking Alpha analysis says Tower Semiconductor (TSEM) is entering a potential growth phase led by silicon photonics, supported by reported contracts worth $1.3 billion for 2027 and $290 million in customer prepayments. The company reported second-quarter 2026 revenue of $460 million, up 23.7% year on year, a 30% gross margin and normalized earnings per share of $0.88, beating expectations, according to the article. Management is targeting $3.6 billion in revenue and $1.2 billion in net income by 2028. The analysis says reaching those goals depends on improving gross margin to 45% and raising capacity utilization to 85%. Its author maintains a Buy rating but flags the stock’s premium valuation, execution risks and the need for stronger cash-flow conversion. The article concerns semiconductor equities, not cryptocurrencies.

Bitdeer reported mining 1,355 BTC in September, nearly three times the 452 BTC produced in September a year earlier. The company cited a self-mining hash rate of 82.3 EH/s and co-mining capacity of 28.7 EH/s in its October 19 operating update. The higher Bitcoin production reflects added mining capacity, but does not by itself indicate stronger profits. Network difficulty, electricity costs, equipment efficiency and capital spending all affect mining returns. Investors will need to assess these factors alongside Bitdeer’s BTC output. Bitdeer is also developing AI cloud and data-center services, including planned capacity agreements in Malaysia with delivery windows in 2027 and 2028. These are future plans, not evidence of current completed capacity or revenue. The update highlights Bitdeer’s dual focus on Bitcoin mining and AI infrastructure, while underscoring the different timelines and investment needs of each business.

Polymarket faced criticism on X after a photo of its fortune-cookie advertisement drew more than 500,000 views. The purple promotional slip displays the Polymarket name, logo, a partly obscured QR code and a statement acknowledging paid advertising. The restaurant, supplier, campaign reach and spending have not been confirmed, and OpenFortune’s involvement remains unverified. The ad adds to scrutiny of Polymarket’s marketing. Past promotions included sports-related campaigns and paid creator posts. Politico reported that creators received at least $350,000 over 14 months, with more than 490 posts mentioning Polymarket that did not disclose they were paid. New York City officials have also examined marketing practices across prediction-market companies and sought information from Polymarket and other firms. The online backlash is a reputational issue, while disclosure and consumer-protection questions could add regulatory pressure. The article reports no direct change to Polymarket’s operations, token status or crypto-market prices.

SpaceX’s planned $40 billion off-balance-sheet financing to buy Nvidia chips has hit a snag, as market volatility and higher borrowing costs complicate pricing negotiations. The financing is expected to comprise three tranches of 144A bonds, including a $25 billion to $30 billion subordinated tranche, plus $10 billion and up to $5 billion in additional tranches. SpaceX aims to keep the debt outside its balance sheet to protect its investment-grade credit rating. However, a previous attempt to arrange off-balance-sheet financing for Elon Musk’s AI company xAI was challenged by auditors; about $13 billion of debt was ultimately recorded on SpaceX’s balance sheet. The financing delay could raise questions about SpaceX’s borrowing costs and credit profile, though its CFO says the company intends to finance its plans prudently while maintaining its investment-grade rating.

Anna Kelly, the White House principal deputy press secretary, has emerged as a leading contender to become President Donald Trump’s next press secretary. Prediction-market odds of her appointment have risen to 26%, but the White House has not confirmed a decision. Trump has said he is in no rush to name a successor to Katie Zacharia, whose tenure lasted five days. The appointment remains uncertain, and odds could shift if the administration announces a decision or other candidates gain momentum.

NYU Stern professor and valuation expert Aswath Damodaran warned that a projected $10 trillion to $15 trillion artificial intelligence market could carry serious economic and social costs if its growth depends on replacing workers rather than supporting them. He cited the risk of widespread job displacement and its effects on incomes and social roles. The article says the concerns may weigh on sentiment toward AI companies, including Anthropic. Prediction-market pricing put the chance of Anthropic reaching a $600 billion valuation by December 31 at about 2.7% (the table lists 2.8%). The article does not provide details of a specific change in odds or trading volume. Investors may watch Anthropic’s funding and partnership announcements, as well as evidence that AI is augmenting workers rather than displacing them. The debate adds uncertainty to the AI sector’s long-term growth and valuation outlook.

Applied Materials (AMAT) has been initiated at Buy with a $583.80 price target, implying 55% upside, according to the article. The investment case centers on Applied Materials’ semiconductor equipment and materials engineering businesses, which stand to benefit from AI-related demand, advanced logic, DRAM and advanced packaging. The company’s services and installed-base revenue also provide recurring income and help cushion equipment-cycle fluctuations. Recent third-quarter results showed revenue growth of 25% and earnings-per-share growth of 41%. Fourth-quarter guidance points to year-over-year growth of 51% in revenue and 85% in EPS. The bullish outlook is balanced by risks including China exposure, customer concentration, semiconductor-equipment cyclicality and the need for continued research and development to preserve its competitive edge. Applied Materials’ outlook offers a view into demand across the AI chip supply chain, but the article concerns an individual stock, not cryptocurrency markets.

HIVE Digital Technologies has committed more than $250 million to data centres in Paraguay over the past 18 months, as it seeks to develop an AI computing hub powered by hydropower. Its facilities near the Itaipú dam currently have 300 megawatts of capacity. HIVE aims to expand its Yguazú site to 400 MW by the third quarter of 2026. Including energy procurement and infrastructure, HIVE’s total commitments exceed $400 million. The company says it has added more than 300 local jobs, including 40 engineering roles. HIVE currently mines about 8.5 BTC a day and also exports computing capacity to the United States. The expansion could help HIVE shift some capacity from Bitcoin mining to AI and high-performance computing. Key risks include construction delays and reliance on Paraguay’s power supply and regulatory environment.

The UK flash PMI indicates that economic growth gained momentum in October, reaching its strongest pace since February. The UK PMI data also point to a pickup in demand, prompting firms to add workers for the first time since September 2024. Price pressures remain elevated. The report says a Bank of England rate hike at its upcoming policy meeting is considered highly likely, with markets also facing the prospect of further increases into 2027. The figures suggest a resilient economy but reinforce concerns that interest rates may stay higher for longer.

HYPE has fallen 22% from its peak, according to Lookonchain. One address (0xf02...3454c6) holds a short position of 715,300 HYPE, valued at $54.57 million. The position has $5.56 million in unrealised profit, while the trader has also earned $620,000 in funding fees. The large HYPE short highlights bearish positioning, though a single wallet does not establish broader market sentiment.

The 24 October crypto market roundup highlights several developments traders are watching. US senators are investigating Tether’s $6.3 million payment to a company with shares held by a former White House crypto adviser. Hyperliquid Strategies, which holds $2.96 billion in HYPE, expanded its buyback plan to $100 million. The company’s HYPE holdings and larger buyback could affect token sentiment and liquidity. Base said Mastercard is adopting an agent-payment system using x402 and USDC, with settlement on Base. Meanwhile, prediction-market activity is surging: Kalshi and Polymarket crypto event contracts recorded a weekly trading volume of $2.7 billion, a new high, as 15-minute Bitcoin price predictions gain traction. Other headlines include Bitdeer selling 283.4 BTC this week while maintaining zero Bitcoin holdings, and a reported deployment of more than 1,500 DarkSword phishing sites. An Argentine judge dismissed a criminal investigation into President Javier Milei over the LIBRA token scandal. Separately, US officials reportedly described the Iran threat level as the highest since the conflict began, prompting some embassies to reduce staffing. For traders, the HYPE buyback and Mastercard’s USDC payment adoption are notable project and adoption catalysts, while the Tether investigation, phishing activity and geopolitical tensions are potential sources of risk. The roundup offers mixed signals rather than a clear market-wide direction.

The Fed rate hike raises fresh questions about how long high interest rates will weigh on crypto markets. In September 2026, the Federal Reserve lifted its policy rate by 25 basis points, its first increase in more than three years. The move came as US inflation remained above the Fed’s 2% target and the economy showed resilience. Officials’ forecasts also pointed to the possibility of further tightening. The article says the main risks to crypto are higher Treasury yields and real interest rates, a stronger dollar, reduced risk appetite and leveraged liquidations. Past cycles show that a rate increase does not automatically trigger a crypto sell-off: market expectations and conditions within the crypto industry also matter. In 2022, rapid tightening coincided with major failures and credit stress, deepening the downturn. By contrast, widely anticipated hikes can have limited immediate effects. After the September 2026 decision, BTC and ETH traded higher. Over the following seven days, BTC gained 11.58%, ETH 11.94% and SOL 18.70%, according to the article. These gains show that crypto prices can rise despite a rate hike, but do not remove the risk of renewed pressure if inflation stays high or rates remain elevated. Traders are advised to watch inflation and employment data, Treasury yields, the dollar, ETF flows and leverage. The article expects outcomes to vary by asset, with smaller, higher-beta altcoins potentially more volatile. It also notes that high rates could support demand for tokenised Treasury products and other real-world asset (RWA) products.

Ethereum Foundation researcher Justin Drake has warned that advances in artificial intelligence could threaten the elliptic-curve cryptography protecting crypto wallets, potentially before quantum computers can. He urged the industry to prepare for “Bunker Mode,” while Vitalik Buterin backed the need for readiness but cautioned against rushed transfers. No current cryptographic system has been broken. Anthropic’s Claude recently traced the origin of NIST elliptic-curve parameters to ordinary pseudorandom-number generation, finding no evidence of a deliberate backdoor; the finding does not directly affect Bitcoin or Ethereum’s secp256k1 wallets. Developers are advancing post-quantum signatures, including hash-based approaches, while Bitcoin’s BIP-360 remains a proposal. For traders, the issue is a long-term security risk, not an immediate reason to move funds. AI wallet security merits attention, but panic transfers can invite scams. AI wallet security upgrades could eventually affect blockchain infrastructure and user confidence.