Crypto News

Circle CEO Jeremy Allaire says the GENIUS Act is unlikely to be repealed if Democrats take control of the House, pointing to bipartisan support for the stablecoin law. It passed the Senate 68–30 and the House 308–122, with 102 House Democrats and 18 Senate Democrats voting in favour. The Office of the Comptroller of the Currency released final rules for implementing the GENIUS Act on October 21, 2026. The rules require payment stablecoins to be backed by 1:1 reserves and set standards for redemptions, custody and capital. They are due to take effect on January 18, 2027, when the law is scheduled to become fully effective. Allaire argues the framework gives USDC and Circle greater regulatory certainty. USDC circulation reached $73.3 billion in Q2 2026, up 19% year on year. A change in House control could still lead to amendments or tougher oversight, even if repeal is unlikely. For stablecoin issuers, the immediate focus is preparing to meet the new compliance requirements.

A wallet linked to the Worldcoin project deposited 10.5 million WLD, worth about $4.857 million, to exchanges over 11 hours, according to on-chain analyst Ai Yi. The WLD reportedly came from tokens transferred by the project three years ago. Three days earlier, another related wallet moved tokens worth $1.61 million to exchanges. Exchange deposits do not confirm that tokens have been sold, but the transfers may raise short-term selling-pressure concerns for WLD traders.

Aave Labs says its proposed V3.8 security upgrade will preserve flash-loan liquidations. The reentrancy guard would exclude the flashLoan() and flashLoanSimple() entry points, allowing callback contracts to continue interacting with the Aave Pool before repayment is checked. This is important for liquidation integrations, which may need to borrow assets and complete several protocol actions in one transaction. The proposal, published on October 21, uses Ethereum’s EIP-1153 transient storage to track temporary lock state. Aave Labs clarified the design on October 23. The upgrade still requires community feedback, a Snapshot vote, security reviews—including work expected from Certora—and an on-chain governance proposal. The final implementation must be reviewed to confirm that the guard protects Pool operations without disrupting integrations.

Serbia’s student-backed “Students Win” list is running neck and neck with the ruling Serbian Progressive Party (SNS) ahead of the 2026 parliamentary election, according to a Reuters report. SNS has governed since 2012. The student movement gained momentum after protests over the 2024 Novi Sad incident, which raised allegations of corruption and institutional failures. A prediction market puts the chance of the student list winning at least 50% of the vote at 13.9% YES, reflecting uncertainty despite the competitive race. Polling, youth turnout and participation in protest centers could shift expectations. The Serbian student movement’s challenge marks a significant political test for SNS, but the article gives no direct indication of an effect on cryptocurrency prices or trading.

Bloom Energy (BE) reported third-quarter results that exceeded expectations for both revenue and profitability, and raised its full-year guidance for the third consecutive quarter. However, the positive results have not eased concerns about the company’s outlook. The article’s author points to negative free cash flow, expected near-term margin pressure and worsening sentiment around AI infrastructure spending. Bloom Energy also disclosed risks related to project delays and the availability of financing, signalling potential headwinds for AI infrastructure suppliers. Concerns about customer CoreWeave’s debt could add further uncertainty. The author argues these risks may outweigh strong quarterly performance and reiterates a Sell rating on Bloom Energy shares. For traders, the key factors to watch are future cash flow, margins, project execution and customer financing risks.

IRYS fell more than 70% in 24 hours to 0.031 USDT, according to OKX market data. The token had reached a high of 0.32 USDT on 24 October. The sharp IRYS price drop points to extreme short-term volatility, though the report did not specify a cause.

The crypto market brief for 25 October highlights token flows, security risks and leveraged trading. Arthur Hayes transferred another 14 million ENA tokens to Cumberland, a move traders may monitor for potential selling pressure, though a transfer alone does not confirm a sale. Keystone said unauthorised access to its website exposed customers’ names and delivery addresses. Electrum disclosed a high-risk vulnerability and urged users to update to version 4.8.3. Strategy, Strive and other firms reportedly used preferred-stock financing to support purchases of 135,979 BTC—more than 0.5% of Bitcoin’s maximum supply. Separately, a large trader holding $397 million in BTC and ETH long positions added $9.21 million in margin to lower the ETH liquidation price. Bonk Guy said overtrading after the 10 October market crash cost him millions, underscoring the risks of chasing volatile moves. US market breadth also improved, with 61% of S&P 500 constituents above their 50-day moving average.

An analysis of the Dan Ives Wedbush AI Revolution ETF (IVES) maintains a buy outlook, citing a roughly 20% year-to-date return and performance ahead of the S&P 500. The ETF offers concentrated exposure to leading artificial intelligence and technology companies. The analysis points to a price/earnings-to-growth ratio of 0.77 and a corrected price-to-earnings ratio below 21 as signs of appealing valuation. It also notes that momentum has cooled and volatility remains elevated. Technical indicators, technology-sector seasonality, market leadership and potential earnings catalysts are presented as factors supporting the bullish outlook into year-end. These are the author’s views, and past performance does not guarantee future results.

Arthur Hayes transferred 14 million ENA, worth about $2.73 million, to crypto trading firm Cumberland, according to on-chain analyst Ember. The transfer may indicate a planned sale, but no sale was confirmed. Since the previous day, Hayes has moved about $28.81 million in tokens—including ETH, ENA, UNI, ETHFI, AERO, PENDLE and ZAMA—to multiple trading platforms. He has subsequently received a total of about 14.15 million USDC from related platforms. The ENA deposit adds to potential near-term selling pressure, while the broader transfers and USDC receipts may indicate asset sales or portfolio repositioning.

Coinbase has launched cryptocurrency price prediction markets, allowing users to trade predictions on Bitcoin (BTC), Ether (ETH) and Solana (SOL). The Coinbase price prediction markets offer timeframes ranging from 15 minutes to daily. The launch adds short-duration prediction trading to Coinbase’s product lineup, though the announcement did not provide further details on availability or contract terms.

US market breadth improved sharply, even as the S&P 500 index remained broadly flat. On 23 October, 61% of S&P 500 constituents traded above their 50-day moving average, up five percentage points and the highest share since mid-August. The figure was more than twice its 1 October intraday low. The share above the 200-day moving average rose three points to 57%, a 17-point gain over three weeks. On 22 October, the index fell 1.2%, yet 335 constituent stocks still closed higher. The widening market breadth suggests gains are reaching more stocks than the headline index alone indicates.

The SPDR Portfolio High Yield Bond ETF (SPHY) is presented as a straightforward way to gain exposure to high-yield corporate bonds. The fund’s stated yield is 7.4%, and the article says it has consistently outperformed the broader market, though it provides no performance figures or time period. Credit spreads have widened in recent months, improving the income and risk-adjusted appeal of high-yield bonds, while the article also describes spreads as normalizing. Wider spreads can offer more compensation for credit risk, but they may also signal greater concern about corporate borrowers. SPHY’s returns remain exposed to defaults, changes in interest rates and shifts in investor appetite for risk.

Navitas Semiconductor (NASDAQ: NVTS) published an investor presentation on addressing power constraints in AI infrastructure and expanding its product portfolio through a recent acquisition. The available article does not provide the presentation’s technical details, acquisition terms, financial figures or implementation timeline. Navitas Semiconductor’s discussion centres on the growing demand for power solutions as AI infrastructure expands, but the source offers no specific performance or revenue forecasts.

Meteora is a Solana decentralized exchange whose trading activity and protocol revenue are closely tied to meme coins. The article says meme coins recently accounted for about 30%–45% of Meteora’s weekly trading volume, but generated more than 90% of its protocol revenue, reflecting the higher fees associated with volatile trading. Meteora’s DLMM pools use concentrated, bin-based liquidity and dynamic fees. The article argues this design helps the exchange win trades routed through aggregators such as Jupiter and Fomo, especially for more established meme coins. It cites cases where Meteora captured substantial trading volume from tokens also traded on PumpSwap and Raydium. The article presents MET as an undervalued way to gain exposure to Solana meme-coin activity, citing an estimated $370 million fully diluted valuation, token buybacks, and a staking programme that distributes up to 10% of DLMM protocol fees. It also reports that about 128 million MET tokens are staked and that the protocol held $32 million in treasury assets at the end of Q1 2026. The thesis depends on meme-coin trading remaining active and Meteora retaining its execution and routing advantage. A downturn in risk appetite, competition for liquidity, or a decline in trading fees could weaken revenue and the case for MET.

The week of 26 October to 1 November brings major macroeconomic catalysts and a series of crypto project deadlines. The Federal Reserve announces its rate decision on 29 October, followed by the European Central Bank the same day and the Bank of Japan on 30 October. These decisions and guidance could drive volatility across crypto and other risk assets. Strategy reports its third-quarter results after US markets close on 29 October. Several users need to act on shutdown and migration notices. Blast is winding down its L2 network and urges users to withdraw assets to Ethereum by 26 October; Coinbase has paused BLAST trading, and Upbit plans to delist it. Galxe users must complete G staking unbonding or withdraw Smart Savings funds by the same date. Balancer pools are scheduled to remain available for withdrawals through 30 October, while Ebisu’s frontend will also close that day. Other events include a BNB Chain testnet hard fork on 28 October, a CFTC forum on AI and agentic finance, and Circle’s CCTP V1 deprecation beginning 31 October. StandX’s DUSD airdrop claim window opens on 1 November. The packed calendar combines market-moving central-bank decisions with token delistings, protocol shutdowns and user migration deadlines.

Bitcoin miner and high-performance computing company TeraWulf (NASDAQ: WULF) has increased its senior secured revolving credit facility from $250 million to about $400 million, a rise of roughly 60%. Morgan Stanley Senior Funding is the facility’s administrative and collateral agent. The October 23 amendment also removes a $150 million cap on letters of credit, which TeraWulf may use to support utility partnerships and data centre expansion. An uncommitted accordion could add up to about $150 million more, subject to lender participation. The expanded TeraWulf credit facility supports the company’s power and AI data centre plans, including development at its Muskie Data Campus in Kentucky. The debt is secured, placing lenders ahead of shareholders in claims on collateral. Pricing and covenant details are expected in TeraWulf’s 10-Q filing for the quarter ended September 30, 2026. For crypto traders, the announcement is primarily relevant to WULF shares and the Bitcoin mining sector, rather than the Bitcoin price directly. It signals access to more financing for TeraWulf’s expansion, while adding secured debt and leaving the potential accordion dependent on lender approval.

Onchain Lens reports that Arthur Hayes transferred about 8,000 ETH, worth approximately $18.69 million. He subsequently received around $11.73 million in USDC from Galaxy Digital and Flowdesk, leaving about $6.96 million of the transfer’s value unaccounted for. The reported movements do not establish whether Arthur Hayes sold the ETH or what happened to the remaining funds.

A prediction-market account identified as 0x57a85952044f2c8e4d31b475aab6987d2f98ebc2 bought $347,000 worth of shares predicting Hanwha Life Esports (HLE) would beat Gen.G in the League of Legends S16 World Championship Swiss stage. The position was opened at an average price of 42.5 cents per share, for a total of 817,777 shares. The account has reportedly lost $930,000. The match is part of the Swiss stage, where games are played as best-of-one. The transaction is a large prediction-market wager, but the report does not identify the platform or disclose the account’s potential payout.

A UAE-led international operation identified more than $39 billion in fraud-linked funds and digital assets and stopped at least 123.71 million online fraud attempts from July to September 2026. Operation Confrontation Ghost involved law enforcement agencies from 30 countries, Interpol, the Global Anti-Scam Alliance and 13 private companies, including Crypto.com, Meta, Mastercard and TikTok. Authorities arrested more than 960 suspects, raided 29 fraud centers, identified over 3,500 suspects and 15,500 victims, and blocked 4,126 bank accounts. They also closed more than 570 social media accounts and exchanged over 9,000 intelligence reports. Investigators are working to recover the identified assets and disrupt networks involved in AI-enabled fraud, financial scams and online sextortion. The operation highlights the growing use of digital platforms and cryptocurrencies in cross-border crypto scams, as well as increased international cooperation to trace illicit funds. Officials said real-time intelligence sharing can help authorities identify suspicious activity and follow money flows.

Elon Musk said demand for agentic AI is growing faster than anything he has seen. The xAI founder’s comments point to rising interest in AI systems that can carry out tasks autonomously and handle longer-running workloads. xAI recently launched Grok 4.7 and Grok Voice 3.0, but Musk did not announce a new model or other corporate milestone. The remarks add to competition among AI developers, including Google, Anthropic and Meta. The article identifies no direct cryptocurrency development or immediate crypto-market catalyst.

Tesla is launching Optimus Academy, an internal programme where humanoid robots will practise real-world tasks and use the resulting data to improve their AI models. CEO Elon Musk said the company plans to build 10,000 to 20,000 Optimus units for the training fleet. Tesla has begun producing what it calls production-quality Optimus robots at its Fremont, California, factory, though the production ramp remains in an early and challenging stage. A larger facility is under construction in Austin, Texas. The company expects to add its AI5 chip to the robots around April 2027 and is targeting external deliveries by the end of 2027. Optimus Academy is intended to address the lack of a large installed robot fleet that can generate training data. Tesla also plans to publish a video of the robots performing AI-driven tasks in the coming months. The initiative’s progress will depend on training results, manufacturing expansion and the delivery timeline.

Yemen’s Houthi movement says it will continue attacks on Saudi Arabia’s King Khalid International Airport, raising concerns about civil aviation security and regional tensions. Saudi authorities have not confirmed the latest claims. The article reports 17 deaths and 333 injuries this month amid the wider conflict, but does not attribute those figures specifically to airport attacks. Any Saudi response, including stronger air defences or airspace restrictions, could affect regional flight operations. The Houthi threats have no direct cryptocurrency-market catalyst; traders may monitor broader risk sentiment and developments in regional security.

Nvidia and packaging partner Siliconware Precision Industries (SPIL) plan to increase co-packaged optics capacity 15-fold by mid-2027, then to 30 times its current level by the end of 2028. CEO Jensen Huang announced the roadmap at GTC Berlin, citing surging AI data-centre demand and the limits of copper interconnects. Co-packaged optics (CPO) places optical engines alongside switch silicon to improve bandwidth density and power efficiency. Nvidia’s Spectrum-6 CPO switches are intended for its next-generation Vera Rubin AI infrastructure. The company is also investing $1.1 billion with KYEC to expand US semiconductor testing, while Amkor plans to boost interposer wafer capacity by more than 300% by the end of 2028. The expansion signals Nvidia’s expectations for continued growth in AI infrastructure demand.

Pump.fun, a Solana-based memecoin launchpad, generated $1.98 million in protocol revenue over 24 hours, narrowly surpassing Hyperliquid’s $1.96 million, according to the article. The figures point to strong recent activity in memecoin trading and related fee-generating services on Pump.fun. Hyperliquid remained ahead in the seven-day revenue comparison, so the daily lead does not establish a longer-term shift in platform performance. Separately, the probability of Hyperliquid reaching $100 by the end of 2026 on a cited prediction market fell to 27.5% from 36% a day earlier. The article does not establish that Pump.fun’s revenue caused that change. Traders may watch whether Pump.fun sustains its revenue lead and whether activity on either platform translates into changes in token demand.

Google’s data center project in Finland has reportedly cleared 250,000 trees, prompting Finnish authorities to halt the work while environmental assessments are conducted. The report raises questions about environmental compliance and the impact of large-scale data center construction. It also points to potential regulatory scrutiny of Google data center projects elsewhere. Prediction-market odds for a data center moratorium in Louisiana have risen, although the article provides no evidence that the Finland case directly caused the change. The listed odds range from 3.6% to 23.5% across contract dates.

Morgan Stanley forecasts global data center spending of about $2.9 trillion from 2025 to 2028, driven by AI infrastructure demand. The projected outlay includes $1.6 trillion for chips and servers and $1.3 trillion for construction and other physical infrastructure. Amazon, Microsoft, Alphabet, Meta and Oracle are expected to fund about $1.4 trillion from cash flows, leaving an estimated $1.5 trillion financing gap. Private credit could provide roughly $800 billion, while hyperscaler lease commitments exceed $1.2 trillion in undiscounted future payments. Nvidia has reportedly discussed backstop guarantees of up to $250 billion for data center debt, but no agreement is confirmed. Financing is not the only constraint: the US data center power shortfall is forecast to reach 32–33 GW by 2028. For traders, the scale of data center spending highlights both sustained AI-related demand and growing reliance on debt. Credit conditions, hyperscaler commitments and power availability could affect AI-sector valuations and broader risk appetite.

At least 47 large US AI data center projects have been delayed or cancelled this year, as rising costs, financing challenges, local opposition and grid connection delays disrupt construction. Microsoft, Google and Oracle are among the companies affected. Grid interconnections can take up to five years, and Texas has paused new data center connections while ERCOT audits its queue. Oracle also issued a force-majeure notice for its Project Jupiter in New Mexico after regulatory obstacles. The setbacks highlight mounting infrastructure and regulatory risks for the AI data center sector. They may constrain future computing capacity and increase project costs, though the article does not establish a direct effect on cryptocurrency markets.

Apollo chief economist Torsten Slok warns that the AI boom may be losing momentum as token-spending growth slows and customers appear sensitive to prices. He also points to flat revenue per worker and profit margins among the S&P 493—the S&P 500 excluding the Magnificent Seven—as evidence that AI investment has yet to deliver broad productivity gains. Hyperscaler capital expenditure could reach about 3% of US GDP a year from 2027 to 2029, while widening credit spreads and inflation may delay debt-funded data centre projects. Slok warns that AI valuations could face a painful repricing if returns fail to materialise. Traders are watching AI usage and spending, corporate productivity, credit spreads and infrastructure timelines. A pullback in the AI boom could also weigh on wider risk appetite, including crypto markets.

US electrical equipment production capacity has fallen 9% since 2019, according to analysis shared by a16z, while prices rose 69%. Transformer and switchgear prices have nearly doubled, and imports of those products are about 80% above 2019 levels. Factories are operating at 87% utilization, the highest level since 2008, yet output from existing plants has dropped 7%. The figures point to shrinking capacity and tight supply as electricity demand, including from AI data centres, grows. For technology and energy infrastructure, higher equipment costs and limited supply could add to project delays and inflationary pressure.