Crypto News

Nvidia is reportedly considering a further investment in or acquisition of Reflection AI, a startup it has reportedly backed with about $800 million. Hiring researchers or licensing the company’s technology are also options. Talks are preliminary, with no agreement or confirmed deal price. Reflection AI was seeking funding at a $25 billion pre-money valuation; that figure is not a confirmed takeover price. The discussions follow Reflection AI’s launch of Beam, an open-weight model with 501 billion total parameters, 23 billion of which are active during inference. The startup says its own benchmarks show Beam competing with Chinese AI systems in coding and agent-based tasks. It trained the model using thousands of Nvidia GB300 GPUs. A deal could extend Nvidia’s AI ecosystem from chips into models, but its commercial impact is uncertain. Nvidia reported fiscal second-quarter 2027 revenue of $96.2 billion, up 106% year on year, including $89 billion in data-centre revenue, up 117%. Its shares closed at $229.28 on October 9, down 0.52%. Investors will watch whether any partnership leads to products customers adopt, expands AI demand or shifts market share—and whether Nvidia’s deeper role in models complicates its relationships with chip and cloud customers. The news has no direct implication for a specific cryptocurrency; any crypto-market effects would likely be indirect, through broader sentiment toward AI and technology stocks.

Two wallets reportedly linked to the Ethereum Foundation sent 4,393 ETH, worth about $11.13 million at the time, to Kraken on October 12, 2026, according to blockchain tracker EmberCN. The Ethereum Foundation and Kraken have not confirmed a sale or explained the transfer. An exchange deposit can signal possible selling pressure, but it does not establish that the ETH was sold or that the foundation controlled the wallets at the time. EmberCN said the wallets received 59,751 ETH from a foundation-linked address in 2016 and have since transferred 49,751 ETH to Kraken. The reported average price for those transfers was about $658 per ETH; the location of the remaining 10,000 ETH is unclear. Similar Ethereum Foundation-linked transfers were reported in late 2025 and in May and August 2026, but previous movements did not typically trigger an immediate market reaction. The foundation has disclosed treasury sales and staking as part of its funding strategy, though it has not connected this transfer to a treasury sale. At the time of the later report, ETH traded near $2,555, up about 2% over 24 hours but down 6.85% over seven days. It was below its nine-day moving average of around $2,585, while its 14-day RSI stood at 47.59, below the neutral 50 mark. These indicators point to short-term softness, but there is no evidence that the Kraken inflow caused the price moves. Traders may monitor for an official explanation, further wallet activity and exchange flows before treating the Ethereum Foundation-linked ETH transfers as a confirmed bearish signal.

Billionaire collector Adam Weitsman said on 11 October 2026 that he bought 117 Pudgy Penguins NFTs, taking his holdings to 167 across several wallets. The purchase followed a period of stronger activity: weekly sales reached about $1.50 million through 10 October, up 125.66% week on week, across 196 transactions and 94 buyer addresses. The increase preceded Weitsman’s announcement, so the data does not show that his buying caused the sales surge. The collection was also facing uncertainty after its parent company decided to shut down the Abstract layer-2 network. After the announcement, the Pudgy Penguins floor price reportedly rose 16.7% in 24 hours to about 2.74 ETH, or roughly $6,900. Weitsman’s purchase and the floor-price jump may support short-term sentiment, but neither confirms a lasting recovery. Traders should watch project developments, NFT trading activity and the impact of large holders’ future transactions.

The IMF’s latest Global Financial Stability Report finds rising demand for tokenized stocks, driven by 24/7 trading and fractional ownership. In a sample of five liquid tokenized US equities traded across 11 venues, more than half of transactions took place outside regular US market hours, and about 80% involved less than one share. When US markets reopened, traditional stock prices reflected 87% to 99% of overnight moves in tokenized stocks; more than 85% of those moves appeared within five minutes, indicating a role in price discovery. The market was valued at about $2.3 billion as of July 31, within a roughly $65 billion tokenized real-world asset market. Ondo Finance and Backed Finance’s xStocks accounted for more than 70% of tokenized-stock activity. The IMF estimates these products are around 1.5 times as volatile as their underlying shares and have thinner liquidity, particularly on decentralised exchanges. It says systemic risks remain limited for now, but calls for clear ownership rules, stronger liquidity safeguards, interoperable platforms and secure settlement. Regulators should also monitor links with traditional markets and consider circuit breakers. For traders, round-the-clock trading may improve access and price discovery, but fragmented venues and automated margin calls or liquidations could amplify volatility as the market grows.

Coldcard is investigating a phishing post published on its official X account on October 11, 2026. The deleted message falsely warned of a critical seed-generation issue in recent firmware and urged users to move funds through migrate.coldcardwallet.io. Coldcard says its initial review found no matching unauthorized login or session records, and it has asked X to investigate how the post was published. The company says coldcard.com is its only official website and warns users not to click the link or enter seed phrases online. The post referred to a recovery-phrase generation issue disclosed earlier in 2026; reports said an exploit drained more than 1,700 BTC, then valued at an estimated $100 million to $130 million. Coldcard has not confirmed a new device vulnerability, and no losses linked to this phishing post have been verified. The investigation is ongoing.

The UK has imposed sanctions on crypto exchanges and payment providers accused of helping Russian entities evade financial restrictions. The latest account names payment processors Cryptomus and Heleket, and Kyrgyzstan-based exchange TokenSpot; earlier reporting said the measures covered three exchanges and two payment platforms. Chainalysis said Cryptomus and Heleket received funds from more than 15,000 illicit counterparties. It also linked TokenSpot, Grinex and Meer to more than $308 million originating from an HTX deposit address. The UK had previously sanctioned HTX operator Huobi Global over alleged sanctions evasion; HTX said the measures did not affect its exchange or users’ funds. The UK crypto sanctions also focus on services allegedly connected to the Kremlin-backed A7 network. A7 says it moved more than $90 billion last year, while CertiK put cumulative on-chain volume for its rouble-linked A7A5 stablecoin at $110 billion. The designations increase compliance risks and scrutiny for crypto platforms, but target specific firms rather than major cryptocurrencies directly. The scale of A7-related activity suggests that sanctions on individual providers may not fully shut down these payment routes.

Blockchain.com has applied to the US Commodity Futures Trading Commission (CFTC) for two licenses: a designated contract market license to operate an event-contract exchange, and a futures commission merchant license to broker derivatives. If approved, Blockchain.com could offer regulated prediction markets and crypto derivatives to US retail and institutional customers on one platform. The applications are pending, and the company has not yet received approval. The applications would bring services in-house that Blockchain.com currently offers to some international users through Polymarket for prediction markets and Hyperliquid for perpetual futures. CEO Peter Smith said the company wants customers to manage digital assets, trade derivatives and take positions on real-world events in one place. Blockchain.com also announced a planned integration with Polymarket in July. The Blockchain.com applications come amid growing industry interest in federal approval. CNBC reported that the company is among 12 firms to have filed for designated contract market licenses this year, while the CFTC has approved six new licenses in 2026. Federal licensing may help platforms respond to state-level gambling challenges as courts debate whether event contracts fall under federal derivatives rules. The CFTC has also sent the White House proposed rules intended to reinforce its authority over prediction markets. The outcome could shape the US market for prediction markets and crypto derivatives.

Firmus Technologies withdrew its planned ASX IPO after only 48 hours of bookbuilding, citing weak institutional demand and unfavorable market conditions. The Nvidia-backed AI data centre operator had sought to raise about A$5 billion at A$11 a share, implying an equity valuation of roughly A$30.6 billion. Earlier reports said Firmus considered cutting its offer price by 25% to A$8.25, valuing it at about A$33 billion, but the reduction was not finalized before the withdrawal. The proposed valuation was nearly three times the roughly US$10.5 billion valuation from a private funding round two months earlier. Investors reportedly questioned the company’s earnings outlook, its reported debt load of about US$30 billion, and the loss of CDC Data Centres as a partner on a major project. Firmus currently operates about 42 megawatts of computing capacity, well below its long-term target of nearly one gigawatt. It runs data centres in Melbourne and Singapore, has five more under development, and serves clients including OpenAI and Meta. Firmus plans to seek private financing instead. The failed Firmus IPO underscores investor scrutiny of AI data centre valuations, heavy capital requirements and execution risks. Maas Group, which has investment and commercial exposure to Firmus, fell more than 6% after the withdrawal. The development may affect sentiment toward technology infrastructure investments, but it has no clear direct link to cryptocurrency prices.

The IMF says tokenized markets could make trading and settlement faster and cheaper, but warns they may also amplify liquidity crises, fire sales and contagion as they expand. The risks to traditional finance remain limited for now because tokenized markets are small compared with global capital markets. By July 2026, tokenized real-world assets excluding stablecoins were worth about $65 billion, including roughly $48 billion in fixed-income products. Tokenized equities totalled about $2.3 billion, while tokenized repo trading averaged $300 billion to $350 billion a day. More than half of tokenized equity trading took place outside regular US market hours, and about 80% of trades involved less than one share. The IMF also said tokenized equity prices appeared to inform traditional stock prices after markets opened. However, tokenized equities had lower liquidity and around 1.5 times the realized volatility of conventional shares, which could make price swings sharper and exits harder for traders. The IMF identifies legal uncertainty, unclear regulation, fragmented platforms and limited safe settlement assets as barriers to growth. It also warns that greater links and leverage could transmit shocks to traditional finance. The report adds to the IMF’s public warnings on tokenization this year.

Cardano activated the CIP-0113 programmable-token standard on mainnet on October 7, 2026, following development and multiple security audits. CIP-0113 lets issuers build KYC, anti-money-laundering checks, sanctions screening, asset freezes and transfer restrictions into native Cardano tokens. The ledger checks these rules during transfers, minting and burning, making the standard suitable for regulated assets such as stablecoins, tokenized funds, bonds and securities. CIP-0113 uses Cardano’s existing EUTXO and native-asset infrastructure, requires no hard fork and does not change the rules for ADA or make the network permissioned. The Cardano Foundation said existing wallets, block explorers and applications can support the tokens, naming Eternl, GeroWallet, CardanoScan and BloxBean among ecosystem projects. The Swiss Capital Markets and Technology Association also recognized the standard as a smart-contract equivalent to CMTAT for its certification scheme. CIP-0113 gives issuers new infrastructure for regulated tokenization on Cardano, but the launch alone does not guarantee market growth. Its longer-term significance—and any broader effect on ADA—will depend on adoption by financial institutions, issuers and users, as well as custody and settlement arrangements.

Bitmine is nearing its 5% ETH holding cap, a shift that could remove a major source of demand for Ethereum. Chair Tom Lee said the company will stop buying once it reaches the limit. As of 4 October, Bitmine held 6,016,414 ETH, about 4.9% of supply, leaving less than 100,000 ETH to acquire. Its recent buying pace could take it to the cap in around six to seven weeks, and purchases have absorbed roughly 72% of newly issued ETH. Lee said Bitmine will not need to raise more funds for ETH purchases after reaching the cap. The company may sell staking rewards to stay within the limit, potentially around 80,000 ETH a year, but says it does not need to sell its core holdings. Meanwhile, US spot ETH ETFs recorded eight consecutive trading days of net outflows from 29 September, totalling about $641 million. Bitmine’s remaining purchases may support ETH demand in the short term, but their eventual end could leave ETF flows, staking demand and other institutional buyers more influential. If replacement buyers do not emerge, ETH could face weaker demand and greater volatility; a price decline is not guaranteed.

Circle and SAP-backed financial-services company Tereina plan to integrate USDC and EURC into SAP Pay, starting with SAP Cloud ERP. The integration aims to let eligible businesses send and receive stablecoin payments through familiar enterprise resource planning workflows. A demonstration showed a supplier invoice paid in USDC, with payment initiation, approvals, treasury monitoring, on-chain transfer and reconciliation managed through SAP. SAP said the example settled in minutes rather than days, but it remains a demonstration, not evidence of broad customer adoption. The companies plan customer proof-of-value programs and specialist training in the coming months; they have not announced a wider launch timetable or transaction volumes. The partnership follows Circle’s launch of Arc, a layer-1 blockchain focused on stablecoin payments and financial markets. Arc uses USDC for transaction fees and supports more than 20 fiat-backed stablecoins, including USDC and EURC. SAP says its ecosystem generates 84% of global commerce, suggesting potential reach, but the SAP stablecoin integration is still being tested. Wider use could support longer-term enterprise demand for USDC and EURC, while near-term trading impact remains limited until customer adoption and production activity become clearer.

Samsung Electronics forecast record third-quarter 2026 operating profit of 107.4 trillion won, up 782.5% year on year, on revenue of about 195 trillion won. AI server demand and tight supply have driven memory-chip earnings, and the forecast profit would exceed Samsung’s full-year 2025 operating profit. However, it fell slightly short of analyst expectations, while profit growth slowed from the previous quarter. DRAM price growth is also expected to ease sharply from the second quarter, adding to concerns about fading chip-price momentum and rising inventories. Samsung shares fell 2.42% on 8 October and remained about 30% below their 18 June peak. Investors are weighing whether record Samsung profits are already priced in, alongside a stronger won, expanding Chinese memory capacity and the costs of HBM and advanced-chip investment. The company expects its HBM market share to increase from about 20% to 34% in 2026, but its foundry business remains unprofitable. The latest update also points to pressure on Samsung’s mobile and consumer electronics business: the division is estimated to have lost 0.6 trillion won, while smartphone shipments fell 9% sequentially. Reports say Samsung plans to cut fourth-quarter phone production by 20%–30% and raise Galaxy S26 prices. Higher memory costs support Samsung’s chip profits but can also weigh on its device business. Citi sees potential upside from HBM4 pricing, although the durability of cloud companies’ AI spending remains uncertain. Traders will watch Samsung’s 29 October briefing for guidance on 2027 memory supply and demand, long-term contracts, capital spending and shareholder returns. The results may influence sentiment across the technology sector, but have no direct impact on cryptocurrency prices.

DogeOS opened its public testnet, Chikyū, on 30 September 2026. The EVM-compatible layer is designed to bring smart contracts and decentralised applications to Dogecoin, with transactions settling to the DOGE network. It targets about 300 transactions per second and three-second blocks, compared with roughly 30 transactions per second and one-minute blocks on Dogecoin’s base layer. Users pay fees in DOGE, and developers can use Ethereum-compatible tools. Projects named across the launch updates include Superposition Finance, Derps, USDoge, Snag and Barkswap, spanning lending, perpetual trading, stablecoins and prediction markets. Further applications, including liquidity tools, options, launchpads and games, are planned, but availability depends on each project’s progress. DogeOS was developed by the team behind the MyDoge wallet and operates separately from Dogecoin’s base layer. The project raised $6.9 million in a May 2025 seed round led by Polychain Capital. Its current security model relies in part on validators, a trusted execution environment and a permissioned sequencer. A proposed Dogecoin Core upgrade, OP_CHECKZKP, which would enable the base chain to verify zero-knowledge proofs, has not been implemented. DogeOS has not announced a mainnet date. For DOGE traders, the testnet points to potential longer-term utility beyond payments, but does not yet confirm near-term demand. Testnet usage, application launches, liquidity, DOGE trading volume and progress towards a more decentralised mainnet are key indicators to watch.

Standard Chartered forecasts Ethena’s USDe supply could rise eightfold to $40 billion by the end of 2028, and sets a $2 price target for ENA. The outlook extends earlier estimates that USDe could outpace the wider stablecoin market as Ethena expands its yield sources beyond crypto basis trading into DeFi, institutional lending, real-world assets, and equity- and commodity-linked strategies. The bank also forecasts Bitcoin at $300,000 and Ether at $18,000 by 2028. USDe is a synthetic dollar backed by crypto assets and short positions in perpetual futures, not bank-held cash. Users can stake it as sUSDe for variable yield, currently around 4.8%, mainly from staking rewards and derivatives funding rates. However, USDe supply remains near $5 billion, well below its roughly $14.8 billion peak after a Binance pricing incident triggered redemptions last October. Ethena continued to redeem USDe at $1. ENA’s valuation case depends on renewed USDe growth and protocol revenue-funded buybacks. Under Ethena’s revised tokenomics, buybacks are intended to begin once USDe supply exceeds $7.5 billion, starting at 5% of revenue and rising to as much as 25% as supply grows. An earlier governance-approved plan allocated 95% of net revenue to buybacks after specified milestones; at $25 billion in USDe, Ethena estimated annual buybacks of $375 million under stated yield assumptions. At $40 billion in supply, Standard Chartered estimates buybacks could equal about 23% of ENA’s circulating market capitalisation at an unchanged token price, though price appreciation could reduce that rate. Monthly investor unlocks have ended after a one-time release on 5 October, but buybacks have not started and ENA incentives for USDe holders have stopped because supply is still below the threshold. The forecasts may support ENA sentiment, but they are not guarantees. Traders should track USDe adoption, protocol yields, funding rates, buyback execution, and token supply. Risks include negative funding rates during prolonged bear markets, reliance on centralised exchanges for hedging, and regulatory uncertainty around yield-bearing stablecoins.

Bitcoin rebounded from a low near $80,300 to about $82,000 after US President Donald Trump said the United States would not attack Iran before the 3 November midterm elections. The comments eased geopolitical concerns, sending oil prices lower from a reported high of $93.20 to around $90.70 a barrel. Ethereum, XRP and Solana also recovered some recent losses. Bitcoin had also faced selling pressure amid warnings that advances in artificial intelligence could threaten crypto security. Coinbase chief cryptographer Yehuda Lindell said there was no evidence that elliptic-curve cryptography had been compromised. Ethereum co-founder Vitalik Buterin said a potential risk merited attention but involved lattice-based linear algebra, not elliptic curves themselves. Traders are watching $81,000 as near-term Bitcoin support and $82,000 as resistance. A fall below $80,316 could put $80,000 and an on-chain support level near $77,200 in focus. On the upside, a sustained move above $82,000 could improve market structure, with $83,300 and $85,500 among the next resistance levels. The US blockade of Iran remains in place, leaving oil prices, market sentiment and Bitcoin vulnerable to renewed geopolitical volatility.

US government-linked wallets transferred about 9,261 BTC, worth $770 million, to Coinbase Prime on October 6–7. The coins included Bitcoin recovered in connection with the 2016 Bitfinex hack, assets tied to previously reported Binance-related seizures, and 2,456 BTC not previously identified by Galaxy Research as government holdings. No agency confirmed a new seizure involving the latter coins. On October 8, government-linked wallets sent a further 12,267 BTC, worth about $1.01 billion, to Coinbase Prime. Blockchain trackers put transfers to the platform at 18,482.7 BTC, or roughly $1.53 billion, over the two-day monitoring period. The transfers indicate a custody change, not a confirmed sale: Coinbase Prime provides institutional custody and trading services, and no US agency has described the movements as liquidations. The Strategic Bitcoin Reserve order generally bars the sale of qualifying, finally forfeited Bitcoin, while allowing transfers for legal, restitution or law-enforcement purposes. Bitcoin was trading near $82,000 on October 9, below more than $85,000 earlier in the week. The timing may concern traders about potential government selling, but on-chain transfers alone do not establish that a sale occurred or caused the price decline.

AI data-centre operator Firmus has shelved its planned Australian IPO after institutional investor demand fell short amid market volatility. The company had planned to raise up to A$5.5 billion at A$11 a share, implying an equity valuation of about A$43.7 billion (US$30 billion); trading on the ASX had been expected around 23 October. An earlier plan was reported as a A$7 billion offering, but the latest figures put the targeted raise at up to A$5.5 billion. Firmus is considering private funding and other financing options instead. The Firmus IPO would have been one of Australia’s largest listings in decades. The Nvidia-backed company operates two small data centres, is developing its Project Southgate site in Australia and has operations in Indonesia. Its plans include a collaboration with Nvidia involving up to 170,000 GPUs, and Meta and OpenAI are among its clients. Firmus raised $505 million in April at a $5.5 billion post-money valuation, followed by $2 billion in August at a valuation above $10.5 billion. Reports cited waning foreign investor interest, and the IPO uncertainty also weighed on backer Maas Group Holdings, whose shares fell 30%. Traders will watch for details of any private funding round and progress on Southgate, its Indonesian operations and GPU deployment. The shelved IPO has no direct impact on a cryptocurrency token, but the financing shift may be relevant to sentiment around AI infrastructure and technology-sector investment.

US spot Bitcoin ETFs recorded nearly $485 million in net outflows on October 7, according to Farside Investors, reversing $118.8 million in inflows the previous session. BlackRock’s IBIT led withdrawals with $207.7 million, followed by Fidelity’s FBTC at $105.1 million and ARK’s ARKB at $101.7 million. Grayscale’s GBTC lost $39.3 million, while Bitwise’s BITB and VanEck’s HODL saw outflows of $27.6 million and $3.5 million, respectively. The broad pullback contrasts with the funds’ longer-term totals: spot Bitcoin ETFs held $107.4 billion in net assets and had accumulated $57.33 billion in net inflows. The latest Bitcoin ETF outflows suggest near-term risk reduction across a major regulated investment channel, but a single session of flows does not establish a lasting change in institutional demand. Traders may watch whether outflows persist and how Bitcoin responds.

Wells Fargo is reportedly in talks with Payward, the parent company of Kraken, about providing liquidity for crypto trading through the bank. The discussions are ongoing and may not lead to a deal; no assets, commercial terms or launch timeline have been disclosed. A partnership could give Wells Fargo access to trading infrastructure without requiring it to build its own. The bank has also expanded its digital-asset activity, including offering spot Bitcoin ETFs to eligible wealth clients and investing in crypto-related firms. The talks build on Payward’s growing links with traditional finance. Payward already provides trading technology and other services to financial firms, and is discussing a broader infrastructure partnership with BNY. Nasdaq agreed in September to invest $100 million in Payward at a reported $21 billion valuation; Wells Fargo advised Nasdaq on the investment. Payward is also reportedly considering a public listing next year. For traders, the Wells Fargo crypto liquidity discussions signal continuing institutional interest, but they do not confirm a launch or imply an immediate change in market access or crypto prices.

China’s P2P stablecoin economy is expanding despite restrictions on crypto services. Chainalysis estimates China’s crypto economy reached at least $176 billion during its 2026 study period. Between Q1 2024 and Q2 2026, the number of unique wallets sending peer-to-peer (P2P) stablecoin transactions rose 43-fold. P2P activity accounted for 59.1% of the crypto economy, around 3.5 times its share in the previous period. From July 2025 to June 2026, self-custodied stablecoin holdings averaged about $3.1 billion and turned over 33.2 times a year, versus a global average of 9.3. About $104.1 billion moved across 18.1 million transfers, and domestic monthly transfer volume rose by $4.9 billion in March 2026. The figures suggest stablecoins are used for payments and working capital as well as investment, with activity shifting beyond centralized exchanges. The growth coincided with new social credit system guidelines, but Chainalysis did not establish a causal link. The data point to persistent demand, not a regulatory reopening; any broader market impact depends on whether these flows affect stablecoin liquidity, capital movements or policy.

A Manhattan federal jury convicted cybersecurity consultant Jonathan Spalletta of computer fraud and money laundering over two 2021 attacks on Uranium Finance. The exploits stole about $1.4 million on April 8 and $53.3 million from 26 liquidity pools on April 28, helping force the DeFi exchange to close. Prosecutors said Spalletta laundered proceeds, including about $26 million through Tornado Cash between 2021 and 2023, and spent some of the money on rare trading cards and other collectibles. Authorities seized roughly $31 million in linked cryptocurrency in February 2025 and recovered collectibles worth more than $3 million. Spalletta faces maximum sentences of 10 years for computer fraud and 20 years for money laundering; sentencing is scheduled for February 16, 2027. The Uranium Finance case underscores the criminal and financial risks of smart contract exploits, but the conviction and seizures do not restore the failed platform or guarantee prompt repayment to users.

Evernorth has delayed the expected closing of its business combination with Armada Acquisition Corp. II to around October 9, with Nasdaq trading under the XRPN ticker now expected around October 12. The company called the change administrative and said it does not expect it to affect completion; Armada II shareholders approved the deal on September 30. Evernorth expects to hold about 473 million XRP at closing, alongside roughly $300 million in gross cash proceeds. It also has access to a $30 million note for potential further purchases. The revised listing date does not confirm new XRP buying: the treasury position was assembled or committed to before the debut. Unlike a spot XRP ETF, Evernorth plans to actively deploy XRP, including through lending and liquidity provision, so its results may depend on both XRP’s price and the amount of XRP held per share. XRP was trading at $1.4251 on October 8. Daily indicators were broadly constructive, but short-term momentum was weak: the four-hour trend was rated strongly bearish and the four-hour RSI was 31.1. Traders are watching support at $1.3996 and resistance at $1.4409. A sustained move above resistance could improve the technical outlook, while a break below support may bring $1.3736 and $1.3369 into focus. The XRPN Nasdaq debut is a potential sentiment catalyst, not a confirmed driver of XRP demand or price.

Gate plans to expand its Visa crypto card to more than 40 markets. Users can apply for and manage the card in the Gate app, where eligible digital assets are automatically converted into local fiat currency at checkout. Merchants receive standard Visa payments and do not need to accept crypto directly. The Gate Visa crypto card is part of Gate Money, which combines digital assets, fiat, investments and payment services; Gate says it serves more than 61 million users. Supported markets, assets, eligibility and card features will vary, and Gate has not confirmed the full rollout date or published a complete list of markets. Visa says more than 160 stablecoin-linked card programs are live globally, with payment volume up nearly 200% year over year. The launch adds to the use of crypto cards for everyday spending, though its reach will depend on local availability.

US spot Ethereum ETFs recorded $160.9 million in net outflows on October 7, extending their outflow streak to seven consecutive days. BlackRock’s ETHA accounted for $116.05 million, while Grayscale’s ETHE saw $25.77 million in withdrawals. The sector also lost $201.9 million on October 6, with ETHA again driving much of the outflow. By contrast, US spot Bitcoin ETFs attracted about $119 million on October 6, suggesting some investors may be reallocating between assets rather than leaving crypto markets altogether. Ethereum ETF assets were reported at $16.402 billion, or 5.22% of Ethereum’s market capitalisation, while cumulative net inflows remained positive at $13.389 billion. Traders will be watching whether continued Ethereum ETF outflows weigh on ETH and increase volatility; the contrasting Bitcoin flows are a signal of relative demand, but do not alone confirm a broader market trend.

BitGo and HashKey Cloud expanded their institutional partnership on Oct. 6 in Singapore, building on a staking arrangement announced in July. The BitGo-HashKey partnership now covers staking, trading, custody and real-world asset (RWA) tokenization for eligible clients, subject to local regulations. HashKey Cloud will provide validator services through BitGo’s platform, initially supporting Ethereum (ETH) and Solana (SOL) staking. BitGo will offer custody to HashKey Capital funds after onboarding and separate agreements, and serve as a custody partner for HashKey’s RWA tokenization initiatives in Asia-Pacific. The firms also plan to support institutional trading flows. They have not disclosed fees, a launch schedule, initial clients, expected trading volumes or assets under management. The expanded BitGo-HashKey partnership adds institutional crypto services, but its near-term effect on ETH and SOL may be limited until rollout details and client demand become clearer.

Anthropic has launched Claude Haiku 5.5 on its platform and major cloud services, positioning it as a fast, low-cost model for high-volume tasks such as summarisation, data lookup, classification and customer support. It offers five reasoning settings, from Low to Max, with Medium as the API default; Anthropic’s top benchmark results use Max, while complex agentic coding is better suited to larger models. For prompts up to 100,000 tokens, input costs $0.10 per million tokens and output costs $0.50, matching OpenAI’s GPT-6 Luna. Anthropic says this is one-tenth the price of Haiku 4.5 for prompts in that range, while its average operating-cost reduction is about 75%. Longer prompts receive a smaller discount, and a tokenizer change increases token counts by about 30%, so actual costs vary. Anthropic has also cut Sonnet 5.5 cache-read prices by 50%, estimating around 20% savings for many agent tasks. The launch sharpens competition in low-cost AI models, but it does not directly affect any cryptocurrency or token. Crypto traders may watch for broader effects on technology-sector sentiment and AI-related assets; any impact would likely depend on adoption and competitive developments rather than this announcement alone.

Sui’s programmable off-chain tunnels reportedly reached a peak of 40,614,180 transactions per second (TPS) in a stress test at Sui Basecamp in Singapore. More than 10,000 tunnels handled payment, gaming and chat activity, surpassing the event’s 20 million TPS target and marking about 6.6 times the roughly 6.1 million TPS reported in a similar test in July. Mysten Labs, Sui’s developer, says tunnel activity is processed off-chain, with each tunnel opened and closed on-chain and results settled to the Sui blockchain. The figure therefore measures off-chain activity, not the Sui mainnet’s standalone transaction throughput. Security firm CertiK is reviewing the test data, and its independent report is pending. The quality and practical relevance of the transactions have also not been established. Mysten Labs product chief Adeniyi Abiodun said the design aims to support frequent interactions between AI agents. For SUI traders, the result is a technology milestone, not evidence of increased token demand or real-world network use. CertiK’s findings and signs of adoption will be important to judging whether Sui tunnels can have a longer-term effect on the network.

A US government-linked address transferred about $670 million in crypto assets over 32 hours, including a latest overnight deposit of 5,382.1 BTC, worth around $448 million, to Coinbase Prime. The reported cumulative transfers comprised 6,215.7 BTC valued at about $520 million, 119 million USDT and 40,285 BNB worth roughly $31.63 million. The report said the BTC and USDT went to Coinbase Prime but did not specify where the BNB was sent. Bitcoin transfers to an exchange can fuel speculation about selling and potential short-term price pressure, but the on-chain movements do not confirm that any assets were sold. Traders may monitor exchange inflows, liquidity and subsequent transactions for evidence of actual selling.