Crypto News

The XRP Ledger has patched a vulnerability that may have existed since 2015 and could have let attackers create and spend XRP without paying the corresponding amount, potentially threatening the token’s 100 billion supply cap. Researchers Cayden Liao and Veria AI reported the flaw to RippleX on Sept. 22. The exploit used a counting error in the ledger’s built-in exchange, allowing accounts to receive large amounts of XRP while paying almost nothing. RippleX reproduced the issue on a standalone server but reported no evidence of exploitation on public networks. The fix was released in xrpld version 3.4.1 on Sept. 25. For XRP traders, the incident underscores protocol security risks, while the patch and lack of known exploitation limit the immediate market impact.

Robinhood Chain is evaluating Arbitrum’s Priority Gas Auctions (PGA), which let users pay higher gas fees to move individual transactions ahead of others. This is an evaluation, not an adoption: Robinhood Chain currently orders transactions first-come, first-served and has not used Arbitrum’s earlier Timeboost system. Arbitrum introduced PGA on September 24, 2026, replacing Timeboost, which gave paying users a 200-millisecond head start. Launched in July, Robinhood Chain is an Ethereum-compatible Layer 2 that supports tokenized real-world assets, including around-the-clock trading of tokenized stocks, and has entered the top 10 blockchains by total value locked. Supporters say PGA could help legitimate traders compete with bots that exploit pending transactions for maximal extractable value (MEV). Critics warn that fee-based priority could advantage institutions over retail users. If adopted, PGA could affect execution speed, trading costs and competition for block space on Robinhood Chain. Robinhood and Offchain Labs did not comment.

CryptoBilis, a Malaysian hardware wallet reseller, came under scrutiny after reports that some Ledger devices it distributed had been physically modified with implants designed to steal recovery phrases. Company records showed Jiaming owned all of CryptoBilis’s shares by 3 August; a former co-founder said the acquisition closed in March and the original team handed over operational, administrative and system access. The ownership change has not been linked to the suspected tampering. Ledger asked CryptoBilis to pause sales and shipments in Malaysia, the Philippines and Indonesia while it investigates reported customer losses. Arkham tracked more than $80 million in assets reportedly drained from wallets associated with the devices, across BTC, ETH and TRX. Ledger advised customers who bought devices from CryptoBilis in the previous 90 days not to set up uninitialized units. Users who already used one should move funds to a separate wallet with a newly generated recovery phrase. The CryptoBilis case highlights hardware wallet supply-chain risks, but its broader market impact remains uncertain without evidence of a wider compromise.

An address attributed to F2Pool co-founder Wang Chun swapped 235.51 WBTC for 7,848.53 ETH, worth about $19 million, after an overnight market drop. ETH was reported at around $2,460 during the swap. Over the next seven hours, the address also withdrew 5,173.41 ETH from Binance, valued at about $12.86 million, at an average price of $2,485.89. The transactions indicate a move from WBTC exposure towards ETH and may attract trader attention. However, Wang Chun’s ETH activity does not confirm his intentions or establish a broader market trend.

An unidentified trader opened a 40x leveraged BTC short on Hyperliquid, selling 305.51 BTC in a position worth about $25.4 million. The reported entry price was $83,068, with liquidation near $84,087; the position was showing about $160,000 in unrealized profit at the time of the latest report. The trader reportedly sold roughly 263 ETH for about $643,000 in USDC before depositing the funds on Hyperliquid. On-chain analysts traced the ETH transfer to Tornado Cash, but the funds have not been linked to hacking activity. The large BTC short may attract traders’ attention, but one wallet’s leveraged position does not establish a broader Bitcoin market trend.

Former Mt. Gox CEO Mark Karpelès reported finding a suspicious module containing a SIM-card chip beneath the screen padding of a Ledger hardware wallet bought in Malaysia, despite the packaging appearing intact. SlowMist security chief 23pds said a component connected to the screen data cable could potentially capture recovery-phrase words displayed during setup and transmit them via LTE or eSIM. The suspected Ledger hardware wallet attack has not been independently verified, and the scale of any compromise or losses is unknown. The warning adds a possible supply-chain risk to wallet security: a secure element protecting private keys may not stop malicious hardware from recording information shown on screen. The reports do not confirm that funds were stolen or establish a link to any wallet transfers. For traders, this is a self-custody security concern rather than evidence of a flaw in cryptocurrency protocols or a direct market catalyst.

Coinbase and fintech firm Gennius plan to offer the ONED USD stablecoin through banks across Latin America, beginning in Argentina. Eligible customers could convert bank deposits and loyalty rewards into ONED USD, transfer it around the clock and spend it with participating banks’ Visa cards. ONED USD is backed one-to-one by USDC held in Coinbase custody. Gennius says it works with more than 85 financial institutions and operates over 520 loyalty programmes, connecting banks’ existing systems to Coinbase’s issuance and custody services. The announcement gives no launch date, participating banks or expected transaction volumes. Wider access to ONED USD could support stablecoin payments and increase demand for USDC reserves, but the market effect will depend on adoption and local regulation.

XRP treasury company Evernorth has completed its business combination with SPAC Armada Acquisition Corp. II, bringing approximately 473 million XRP and about $300 million in gross cash proceeds before transaction expenses into the company. Evernorth expects to begin trading on Nasdaq under the ticker XRPN on October 12. Armada shareholders approved the deal on September 30. CEO Asheesh Birla said Evernorth plans to deploy capital across the XRP ecosystem and pursue strategies to increase XRP per share. Its planned activities include institutional lending, liquidity provision, DeFi, tokenized assets, onchain credit and settlement infrastructure. Earlier plans also cited XRP Ledger validation and potential DeFi uses for Ripple’s RLUSD stablecoin. Investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR. The listing gives public-market investors a route to gain exposure to an XRP-focused treasury, but the scale and timing of Evernorth’s ecosystem investments—and their effect on XRP demand—remain uncertain. XRP was trading near $1.39, up about 1% on the day the latest article was published.

OpenAI’s annualised revenue run rate was about $50 billion at the end of September 2026, below the roughly $70 billion figure circulated by some investors. The gap reflects different accounting treatments of sales made through cloud partners, not evidence of weakening demand or a reporting error. OpenAI reports revenue on a net basis, while gross calculations include amounts paid by customers before a partner’s share; the choice of method can shift estimates by as much as $8 billion, according to the earlier report. Both approaches can be GAAP-compliant, but they complicate comparisons ahead of potential IPOs. Anthropic, by comparison, reported a $65 billion run rate in July. OpenAI said its overall run rate grew 77% in the third quarter of 2026, with enterprise revenue up 107%. It aims to reach or exceed a $70 billion annualised run rate by year-end on its net basis. The figure rose from about $20 billion at the start of the year to more than $40 billion in August and around $50 billion in September. The company is reportedly considering an IPO at a valuation of about $1.4 trillion; Oracle shares fell 5% on October 8 as the revenue news circulated. For traders, the key is to compare AI revenue figures on a consistent gross-or-net basis and monitor whether OpenAI meets its year-end target. The story has no direct cryptocurrency catalyst, though it may affect broader technology-market sentiment and, indirectly, risk appetite across crypto markets.

Binance will restrict eight crypto services and end trading in 22 tokens for users in Brazil from October 27, 2026, as it adjusts to Central Bank of Brazil rules. The affected services are Binance Loans, Binance Pool, cloud mining, margin trading, Launchpool, Megadrop, HODLer Airdrops and Alpha 2.0. The tokens are XVG, USDE, USTC, DCR, DUSK, PIVX, BB, MANTRA, ONE, GMT, TFUEL, ZIL, ONT, RVN, ACX, HIT, PYR, VANRY, VIC, ICX, SCRT and STORJ. Users can retain or withdraw the affected tokens after trading ends; new positions in restricted products will not be available. Existing positions may face product-specific restrictions, including repayment-only terms for certain Abu Dhabi-entity loans. By October 29, eligible customers’ Brazilian-real operations are due to move to individual payment accounts at Binance’s locally authorized entity. Customers who decline the migration must withdraw their assets and close their accounts by October 27. From November 1, cross-border crypto transfers will require the transfer purpose and sender or recipient details, which Binance says it will report monthly to Brazil’s Central Bank. The changes directly affect Binance Brazil users; the regional trading restrictions could weigh on affected tokens, but are not expected to have a broad market impact.

Houthi attacks on Riyadh’s King Khalid International Airport reportedly killed three Saudi citizens and injured several others. The Houthis claimed responsibility for two strikes, which caused material damage; an earlier report said airport facilities and a Saudia aircraft were targeted. Saudi authorities said airport operations continued after the attacks. The Houthi attacks come amid renewed Saudi military operations in Yemen, raising the risk of further regional escalation. Prediction-market odds cited in the latest account put the chance of Houthi forces entering Aden by 31 October 2026 at 7%, rising to 24.5% by 31 December. For crypto traders, the incident is a geopolitical risk signal, but neither account reports a direct effect on cryptocurrency prices. Any market response would likely depend on whether the conflict widens and shifts broader risk sentiment.

XRP traded at about $1.49 on Oct. 2 but failed to hold above resistance at $1.5495. By Oct. 9, it was near $1.39, down 7.6% over seven days despite a 4.5% 24-hour rebound. The latest price action leaves XRP below its 50-day moving average at $1.4336, with negative daily momentum adding to a fragile technical picture. Traders are watching $1.43 as the first recovery hurdle, followed by resistance around $1.48 and liquidation clusters near $1.53–$1.54. A move above $1.43 could bring the recent high near $1.53 and the $1.5625 weekly pivot into focus. On the downside, a break below the recent low near $1.32 could expose the 200-day moving average at $1.2805. Earlier indicators were mixed: the 12-day EMA remained above the 26-day EMA, but the MACD was below its signal line. XRP spot ETF products had also recorded 11 consecutive weeks of inflows. Evernorth shareholders approved the Armada business combination on Sept. 30, and the company initially expected its XRPN Nasdaq debut on Oct. 8. The debut has since been delayed; Evernorth now expects trading to begin on Oct. 12, subject to closing conditions and Nasdaq requirements. It expects to hold about 473 million XRP at closing. Separately, an XRP Ledger emergency security update was scheduled for Oct. 9, subject to validator support. These developments offer potential support, but the immediate XRP outlook hinges on whether the price reclaims $1.43 or loses $1.32.

Micron Technology (MU) has reported strong results, supported by AI and data-centre demand for memory chips. The earlier outlook cited $54.23 billion in revenue, an 87% GAAP gross margin and $33.42 in adjusted earnings per share, alongside more than $50 billion in annual capital expenditure. Customer agreements, committed future output and financial commitments were presented as sources of revenue visibility. The later analysis offers an updated valuation view: analyst Jiangwei Li assigns Micron a Buy rating and a $1,307 base-case price target, about 25% above its October 6, 2026 closing price of $1,045.56. The thesis says Micron could remain undervalued even if memory prices fall 15%, with AI infrastructure demand and constrained supply supporting shipment growth and margins. The analyst estimates FY2027 EPS of $176.15. This is below the earlier article’s $1,430–$1,500 target, indicating a more conservative updated price outlook. Traders should monitor memory pricing, capacity expansion and whether AI-related demand sustains margins. Faster supply growth or sharper price declines could pressure earnings, while cyclical valuation concerns may limit gains. Micron is a semiconductor stock, not a cryptocurrency, so the news has no direct price impact on a specific crypto asset.

A Ledger supply-chain attack has been linked to losses of 213.42 BTC, worth about $17.7 million, according to Galaxy’s head of research. The Ledger supply-chain attack funds remain unspent and are held across three consolidation addresses. About 92% of the tracked bitcoin was transferred less than 90 days ago, while some was moved earlier. No sale has been reported. Traders can monitor the addresses for further movements, although any effect on Bitcoin’s price is uncertain; the incident may also renew scrutiny of crypto wallet security.

Republican Representative Ashley Hinson is facing criticism from the Democratic Senatorial Campaign Committee over her support for the “One Big, Beautiful Bill,” which includes Medicaid cuts, and her opposition to extending enhanced Affordable Care Act subsidies. The committee argues these positions could raise insurance costs; it has also claimed the Medicaid cuts could leave more than 110,000 Iowans without coverage and threaten hospitals, figures that have not been independently established here. The issue is shaping the competitive Iowa Senate race between Hinson and Democrat Josh Turek, who are vying for retiring Senator Joni Ernst’s seat. Polling has been mixed, and prediction markets cited in the reports showed odds of 43.5% and 57.5%, without identifying which figure belonged to which candidate. Further polling, voter responses, endorsements and fundraising could affect the campaign. The dispute has no direct connection to cryptocurrency prices.

HSBC and Ant Digital Technologies tested AI-agent payments using HSBC’s Tokenised Deposit Service and Ant’s Anvita Flow network on the Jovay testnet. An AI agent selected a digital service and made a real-time micropayment, typically below $2. HSBC tokenized corporate deposits at a 1:1 ratio, representing bank money on-chain rather than issuing a new cryptocurrency, and retained control through real-time risk checks. The AI-agent payments trial was a technical demonstration, with no live customers or commercial launch. Santander, Sygnum and CaixaBank are also exploring similar applications. The test highlights how tokenized deposits and blockchain infrastructure could enable automated, around-the-clock transactions, but it does not indicate near-term crypto-market adoption or provide an immediate trading catalyst.

Strike has launched Stacks, a Bitcoin savings feature for personal and business users. Customers can split Bitcoin holdings into up to five named buckets, each with its own fee-free recurring purchase plan. Transfers between Stacks and the main balance are free and unlimited, but users must move Bitcoin back to the main balance before withdrawing it outside Strike. The feature uses Strike’s custodial service, with the company saying assets are held in multisignature cold storage. Strike has also introduced a 3.6% return on US dollar balances, paid in Bitcoin. The offer’s eligibility and other terms were not specified. The new tools give users more ways to organize and accumulate Bitcoin, but their direct effect on BTC’s market price is likely limited.

California’s Prop 40, a proposed one-time 5% wealth tax on residents worth more than $1 billion, is drawing debate ahead of the November 3, 2026 vote. Backed by SEIU United Healthcare Workers West, the measure is mainly intended to fund healthcare; Governor Gavin Newsom opposes it. Polling has shown plurality support but not a majority, while opponents warn the tax could eventually extend beyond its stated targets. California’s top 1% of earners generated nearly half of state income tax revenue in 2021, highlighting concerns about reliance on wealthy taxpayers. The Legislative Analyst’s Office says the measure could raise tens of billions of dollars, though revenue would depend on asset valuations and taxpayer behavior. Prediction-market estimates have shifted: the earlier summary put passage odds at 31.5%, while the latest cited figure is 29.5%. For crypto traders, California Prop 40 is a political and fiscal-policy development, with no direct cryptocurrency impact identified.

TypeSafe AI has raised about $870 million in a Series A led by Andreessen Horowitz (a16z), valuing the startup at $7.5 billion. The round came less than four weeks after the company emerged from stealth with a $40 million seed round led by DCVC at a reported $200 million valuation. TypeSafe AI says its first model, Jev, attracted rapid interest after launch, gaining more than one million users within days. The model is reportedly used by about one-third of Fortune 500 companies and offers structured outputs for software applications, with latency below 100 milliseconds and operating costs positioned below those of general-purpose large language models. Founded in 2024, TypeSafe AI is also reportedly drawing early investor interest in a possible funding round exceeding $1 billion at a valuation above $10 billion. The swift rise in TypeSafe AI’s valuation reflects demand for enterprise AI, but the funding news has no stated direct link to cryptocurrencies or digital assets. It therefore offers no clear trading signal for crypto markets.

Anthropic’s planned IPO could value the AI company at more than $2 trillion and raise about $100 billion—more than double its reported $965 billion private valuation in May 2026. The prospectus adds detail to the investment case: 2025 revenue was nearly $4.6 billion, while second-quarter annualised revenue was reported at about $46 billion. The company also disclosed an $8.06 billion operating loss, a $42 billion net loss that included significant accounting charges, and up to $518 billion in long-term computing and infrastructure commitments. These large, long-term costs may outlast shorter customer contracts and put pressure on cash flow and margins. The filing also highlights AI misuse and control risks, alongside revenue concentration: 47% came through Amazon and Google cloud marketplaces, and nearly a quarter came from two clients. For traders, Anthropic’s IPO pricing could influence AI valuations, technology-sector risk appetite and expectations for demand for chips and data centres. The key question is whether paid AI adoption can grow fast enough to support the company’s spending and valuation.

Cardano (ADA) weakened between Oct. 8 and Oct. 9, falling from around $0.232 to $0.236 after being rejected near the top of an ascending channel. The latest price was about 16.5% below the weekly high of $0.2824, putting short-term support levels in focus. Analyst Ali Martinez said that if the channel remains intact, ADA could fall toward its lower boundary near $0.21. Traders may first watch support around the recent weekly low of $0.2238 and the daily lower Bollinger Band near $0.2276. A sustained break below the channel could expose the September area around $0.20. Analyst Jesse Olson also pointed to bearish momentum and the possibility of a lower-zone retest. Short-term indicators remain soft: daily RSI was below the neutral 50 level, and ADA traded below the Bollinger midpoint near $0.2483. Earlier readings also showed negative MACD momentum and a price below the four-hour Supertrend near $0.254. A recovery above $0.24, followed by $0.2483, could ease immediate pressure; weekly Supertrend resistance is near $0.2762. However, the weekly Awesome Oscillator remained positive, highlighting mixed signals across timeframes. The $0.21 target is a conditional technical scenario, not a certainty.

Bitcoin holders realised about $1.03 billion in profits on 8 October, the second-highest daily total of 2026, after Bitcoin rose above $87,000. Short-term holders drove much of the profit-taking, and some of their coins flowed to exchanges. Bitcoin subsequently fell about 5%, trading around $80,300–$82,500 over the following week; traders are watching $83,000 as a key level, with a sustained reclaim potentially bringing recent highs back into focus. The on-chain data point to profit-taking rather than confirmed panic selling: realised profits exceeded losses, although short-term holders’ unrealised profit margin reached 33%, its highest since late 2024. More than $1 billion in crypto positions were liquidated, mostly leveraged longs. US spot Bitcoin ETFs also recorded about $410 million in net outflows in October, including $487 million on Wednesday and $244 million on Thursday, adding to near-term selling pressure. A US government-linked wallet transferred 12,267 BTC, worth about $1.01 billion, on 8 October, but the transfer does not confirm a sale. As a counterpoint, Binance’s Bitcoin reserves fell by 40,689 BTC, or 5.77%, between 21 September and 9 October, potentially reducing readily available sell-side supply. Traders are monitoring exchange flows, short-term holder profit margins, ETF demand and whether Bitcoin can hold its recent range and reclaim $83,000.

Drone strikes hit two Yandex data centres in Russia on consecutive days in October 2026, disrupting cloud services and raising concerns about infrastructure resilience. The October 8 attack on the Sasovo facility in Ryazan region caused a fire and halted operations. The site hosts two of the three supercomputers used to train YandexGPT, and Yandex has not said when it will reopen. On October 9, strikes damaged modules at Yandex’s Kaluga data centre, its largest site, which spans about 130,000 square metres and has more than 3,800 server racks. Drone maker Firepoint said its drones were involved in the attacks. Yandex said it was assessing whether equipment could be restored and warned of possible service disruption. Yandex Cloud customers, including Russian Railways and MegaFon, experienced temporary outages. Yandex reported no casualties at its facilities; Kaluga’s governor said nine people were injured in regional drone strikes but did not link those injuries to the data centre. Ukrainian President Volodymyr Zelenskyy described the attacks as retaliation for Russian strikes on Ukrainian data centres. Yandex shares fell about 4% on the Moscow Exchange after the second attack. The damage puts the company’s AI training capacity and cloud infrastructure in focus. The incidents pose no reported direct threat to cryptocurrency networks or prices, but traders may monitor broader geopolitical risk and technology-sector disruption.

France recorded 90 crypto-related cases involving kidnapping, extortion, threats and violent theft from 1 January to mid-August 2026, according to official figures. Police made 223 arrests, while 126 people were imprisoned between January and July. Chainalysis counted 30 publicly reported attacks by mid-year, and Gart.io tracked 73 real-world attacks year to date; its figures put France ahead of other countries it monitors. The counts use different methods, and official year-on-year comparisons are unavailable because France began collecting data in 2026. Researchers say leaked personal and financial information may help criminals identify crypto holders and their addresses. Possible sources include a 2024 leak involving French tax information and a January 2026 Waltio breach affecting about 50,000 users. Chainalysis found that relatives and acquaintances featured in more than 40% of violent crypto incidents in France, suggesting threats can extend beyond holders themselves. Authorities are coordinating investigations through JUNALCO. The crypto-related attacks raise serious physical security and privacy concerns, but do not indicate a direct change in cryptocurrency prices or market fundamentals.

Circle’s USDC Treasury minted 250 million USDC on Solana at 20:44 Beijing time on 9 October, according to Odaily. The mint formed part of a broader increase: data linked to a Circle wallet indicated that 750 million USDC was minted on Solana over 24 hours, while approximately $98.8 billion had been minted on the network since the start of 2026. The latest report does not confirm whether the newly minted USDC has been distributed or entered circulation. USDC issuance can expand stablecoin liquidity for trading, DeFi and settlement on Solana, but a mint alone does not demonstrate fresh demand or capital flowing into crypto assets. Traders can watch subsequent transfers, exchange balances, Solana network activity and SOL price action for signs of market impact.

Binance’s CRCLb led competing tokenized Circle stock products CRCLon and CRCLx, adding $45.4 million in market capitalisation over 30 days. Launched in June 2026 through Binance’s bStocks platform, CRCLb is a BNB Chain token described as backed one-to-one by Circle shares held at regulated broker-dealers. By October 2026, tokenized CRCL exposure across issuers was estimated at $314 million to $345 million, or about 1.7% of Circle Internet Group’s roughly $20 billion to $21 billion equity market value. More than 10 token variants are tracked across platforms, splitting liquidity and leaving users to assess each issuer’s backing, custody, eligibility and redemption terms. These tokens provide price exposure, not traditional shareholder rights; eligible users may be able to mint and redeem directly. The wider tokenized equities market was estimated at $3.1 billion to $4.87 billion, with on-chain trading volume reaching a reported record of $15.6 billion in 2026. The growth points to rising interest in on-chain equities, but does not establish a change in Circle’s underlying share value. Traders can monitor CRCLb’s relative growth, aggregate tokenized CRCL exposure and trading volumes, while accounting for fragmented liquidity and issuer-related risks. Circle is developing its Arc network, but the CRCL products discussed are issued by third parties.

The XRP Ledger activated PermissionDelegationV1_1 on Oct. 8, letting account owners assign specific transaction permissions to other accounts without sharing keys. A delegate can hold up to 10 permissions, which the owner can update or revoke. The XRP Ledger says users should not delegate PaymentBurn until the fixCleanup3_4_0 amendment activates: a flaw could let delegates create trust line or multi-purpose tokens instead of only burning them. The amendment has 27 of the 35 validator votes needed to start a 14-day activation countdown. Separately, a GitHub report alleges that rippled 3.4.1 may stop counting amendment votes from validators after they rotate signing keys. A proposed fix is under review, and the report says no amendment result has changed so far. The launch expands XRP Ledger functionality, but the token-permission flaw and validator-voting concern remain network security and governance issues. Neither development by itself signals a clear near-term direction for XRP’s price.

Cardano founder Charles Hoskinson has disputed Ethereum co-founder Vitalik Buterin’s warning that artificial intelligence could uncover weaknesses in lattice cryptography. Hoskinson said there is no credible new attack that would justify abandoning lattice-based methods or sharply increasing key sizes. He argues that standards such as NIST’s ML-KEM and ML-DSA reflect decades of research into attacks on lattice cryptography. Buterin has called for a leaner Ethereum security approach, favouring hash-based signatures where possible. Hoskinson countered that hash functions are not automatically safer, pointing to past breaks of MD5 and SHA-1 and the continued scrutiny of newer designs. Buterin has also acknowledged that public-key encryption remains necessary for many uses. The exchange highlights competing approaches to post-quantum cryptography, not a confirmed vulnerability in either blockchain. Hoskinson announced no Cardano upgrade or deployment timetable; Ethereum is researching quantum-resistant changes, while developers continue testing lattice-based and hash-based systems. For traders, this remains a long-term crypto security debate rather than an immediate catalyst for ADA or ETH prices.

AguilaTrades lost a reported $300,000 on a Bitcoin long position after buying BTC at $82,823 and closing at $81,940. The trader then opened a 200 BTC short at $81,743, worth about $16.48 million, which was initially showing an unrealised loss of $150,000. After BTC rebounded above $83,000, the short hit its stop-loss, costing AguilaTrades a further $250,000, according to on-chain analyst Yu Jin. The trader had been inactive for 14 months before returning. Reports say capital fell from $700,000 to $250,000 after the initial losses, then to $150,000 following the stop-loss; cumulative losses reached $38.16 million. These are individual leveraged-trading losses and do not, by themselves, indicate a broader change in BTC’s market direction.