Crypto News

Patrick Witt has left the White House for the private sector, and no successor has been publicly named. His departure follows those of Harry Jung and Bo Hines, leaving the administration without a publicly identified crypto policy lead. Witt had served as a key link to the crypto industry and supported the CLARITY Act, whose progress has stalled despite the administration saying it remains a priority. The CFTC is preparing a regulatory “Plan B,” while the SEC, OCC and Treasury continue their digital-asset policy work. Patrick Witt’s exit is unlikely to change rules immediately, but it raises questions about coordination of potential 2027 legislation on market structure, taxes and stablecoins. For traders, the direct price impact is likely limited; regulatory actions and whether a successor is appointed are the main signals to watch.

Binance says its bStocks tokenized-equity platform surpassed $1 billion in assets under management about four months after launching in June. By Oct. 16, rwa.xyz data put bStocks at $1.2 billion, ahead of Ondo at $893.7 million and xStocks at $600.4 million; the wider tokenized-stock market was worth about $3.5 billion. Binance reports more than $40 billion in cumulative bStocks trading volume and nearly 100 listings. The tokens are described as backed one-to-one by underlying securities, but they are not shares and do not give holders direct ownership or shareholder rights. Offered under an Abu Dhabi prospectus, bStocks are unavailable to US persons and restricted in some other markets. The milestone points to growing interest in tokenized equities, but durable demand will depend on transparent backing, reliable liquidity and clear issuer and collateral arrangements. Eligible users can also use bStocks as margin and futures collateral, creating additional leverage and counterparty risks. Binance’s expansion is notable for real-world asset adoption, but it does not by itself establish sustained demand.

Charles Schwab is gradually allowing eligible clients to transfer Bitcoin and Ethereum to and from approved external wallets, expanding its crypto services beyond investment-account exposure. Identity checks, security reviews and waiting periods may apply. Bitcoin and Ethereum held through the service are not FDIC-insured and are not covered as traditional bank deposits. Schwab has also discussed supporting more digital assets, but has provided no timeline. The phased rollout adds competition for crypto exchanges and gives investors another route to access and manage Bitcoin and Ethereum through a traditional brokerage.

Babylon Labs is advancing a proposal to let users borrow stablecoins on Aave V4 using native Bitcoin (BTC) locked in Taproot vaults, without converting it to wrapped BTC or transferring it to a central custodian. Aave would track the collateral through restricted accounting units in a dedicated lending market, designed to isolate risk. The proposal has passed an initial community temperature check and is now under review, but it is not approved or live. Risk analysis, a Snapshot vote and on-chain governance approval remain outstanding. The plan also includes emergency controls that could pause withdrawals, repayments and liquidations but cannot move or release BTC, alongside interim multisig and guardian groups. Forum participants have raised questions about pause procedures and control of vault infrastructure. Revenue sharing could include AAVE and BABY purchases at higher revenue tiers. If approved, the integration could expand Bitcoin-backed borrowing, but demand, security risks and market effects remain uncertain.

Strategy has conditionally proposed daily cash dividends on its STRC preferred stock, subject to shareholder approval at an October 28 meeting and related amendments. A filing dated October 16 set out conditional November record dates. The rate remains equivalent to 12% annually, or $1 per share for the month; more frequent payments do not necessarily increase the total dividend or provide daily compounding. Strategy says the plan could make STRC more attractive and support funding for Bitcoin purchases. STRC traded at $99.32, down 0.2% on Friday, while the company recently bought 250 BTC for $21.5 million, bringing its holdings to 848,250 BTC. In a separate week ending October 4, Strategy spent $176 million repurchasing STRC, compared with $28 million on Bitcoin. The dividend plan could help sustain its Bitcoin financing channel, but also adds ongoing costs, particularly if BTC prices weaken. If shareholders reject the amendments, existing arrangements remain in place.

Taiwan has reportedly restricted access to Coinbase and Kalshi websites ahead of local elections on November 28, amid concerns that election betting could breach local laws. A New Taipei court authorised the restrictions after the Criminal Investigations Bureau raised concerns about wagers on election outcomes. Some Coinbase users reported access problems from October 14. Coinbase said it was investigating, while Kalshi said Taiwan was not an approved market and it does not allow trading there. Authorities have not accused either company of wrongdoing or linked them to mainland Chinese funds, and the technical scope of the restrictions remains unclear. Taiwan has also blocked Polymarket, while South Korea has pursued cases involving users accused of placing election-related bets. The action highlights differing rules for prediction markets and creates potential compliance and operational risks for platforms. For traders, the reported restrictions appear to have limited direct implications for broader crypto prices, but could affect access for Taiwanese users and add to regulatory scrutiny of election betting.

Binance.US is reportedly seeking up to $100 million from private investors at a proposed valuation of about $1 billion, according to Bloomberg. Talks are ongoing, and the deal’s terms could change. World Liberty Financial was approached but will not participate. The proposed valuation is far below Binance.US’s $4.5 billion pre-money valuation in its 2022 funding round, when it raised $200 million. The US exchange is trying to rebuild after regulatory disputes disrupted its banking and commercial relationships. Binance Holdings’ 2023 settlement with US authorities—including $4.3 billion in penalties and additional monitoring—formed part of the difficult backdrop; former chief executive Changpeng Zhao pleaded guilty to a felony charge. If completed, the fundraising could support compliance, technology and product development as Binance.US competes to regain traders and market share. The talks signal renewed ambition, but not a confirmed recovery. Traders will be watching for a completed deal and sustained improvements in trading activity and growth.

Character.AI filed for Chapter 11 bankruptcy protection on October 12, 2026, after rising AI computing costs, legal challenges and monthly losses of about $8 million to $9 million weakened its business. The company, once valued at around $1 billion, reportedly has roughly 12 million users but has struggled to secure new investment. Disney has made a $20 million opening offer for a non-exclusive, perpetual licence to selected Character.AI intellectual property and certain legal claims, along with transition services. The bid is not an offer to buy the whole company, and other bidders may compete in the bankruptcy sale process. A sale is expected by late November or early December. The app remains online, but Character.AI has warned that it could shut down if no buyer agrees to keep it running. The company faces lawsuits over alleged harm to young users, restricted open-ended chats for users under 18, and agreed with Google to settle lawsuits brought by families. Google’s earlier deal, reportedly worth about $2.7 billion, involved licensing Character.AI technology and hiring its founders and some researchers—not acquiring the whole company. Character.AI had launched two models and a lower-cost subscription plan just 14 days before filing. The case underscores the financial and legal pressures on AI companion services; users could lose their characters and chat histories if the platform closes. It has no direct, stated implications for cryptocurrency prices.

Cobo will permanently close its personal Cobo Wallet App at 00:00 (UTC+8) on 1 December 2026. Users should withdraw their crypto by 30 November and update or remove Cobo Wallet deposit addresses saved with exchanges, mining pools and other services to avoid misdirected transfers. Cobo says its other business operations will continue normally. From 1 January 2027, assets left in Cobo Wallet accounts will incur a monthly management fee of 2% of the remaining balance, with a minimum charge equivalent to US$100. Fees will be deducted in the original tokens, with the minimum calculated using CoinMarketCap prices. Accounts holding less than US$100 may be depleted by the charge. Cobo also warns users about fake support agents and withdrawal scams: it says it will not ask for passwords or charge for expedited withdrawals.

Anthropic’s planned IPO is facing growing scrutiny over AI safety and corporate governance. New York City Comptroller Mark Levine has urged the company to pause the process until it provides fuller disclosures, and Anthropic is reportedly discussing his concerns with him. Earlier reports put the potential valuation as high as $2 trillion; newer estimates are closer to $1.5 trillion. Draft-prospectus disclosures have highlighted safety risks, while New York City pension funds hold about $7 million in Anthropic exposure that could increase if the company joins major equity indexes. The IPO timeline and valuation remain uncertain. The story has no direct cryptocurrency catalyst, though sentiment toward high-growth technology stocks can indirectly influence broader risk appetite.

France is considering a 31.4% capital gains tax on some Bitcoin-to-stablecoin swaps, even when traders do not convert their holdings into fiat currency. The proposal also includes an exit tax on unrealised gains for residents leaving France with more than €800,000 in crypto assets, disclosure of self-custody wallets holding at least €100,000, and the option to carry crypto losses forward for up to 10 years. The measures were approved by the National Assembly’s Finance Committee, but withdrawn after lawmakers rejected the 2027 budget’s revenue section. They must be resubmitted for debate in the full National Assembly and are not law. If passed, they are scheduled to take effect on 1 January 2027. The proposed France crypto tax could affect trading and tax planning, but its uncertain status limits any immediate impact on Bitcoin markets.

Strategy shares fell 4% after MSCI said it may remove the company from its global equity indexes under rules targeting businesses whose assets are mainly investments rather than operating assets. MSCI is expected to announce its decision on November 11, with any changes taking effect after the market closes on November 30. Earlier estimates from JPMorgan put potential index-driven outflows from Strategy shares at about $2.8 billion. Such selling would affect the stock, not require Strategy to sell its 848,250 BTC, valued at about $69.67 billion. However, weaker demand for Strategy shares could make it harder for the company to raise funds for future bitcoin purchases. MSCI also plans to end temporary measures for companies with digital assets accounting for at least 50% of their assets.

VanEck has asked the US Securities and Exchange Commission to withdraw its proposed Lido stETH ETF registration. The request, dated 14 October 2026, says the filing never became effective and the fund did not sell shares or distribute a preliminary prospectus. The proposed Lido stETH ETF would have held stETH, Lido’s liquid-staking token, rather than stake ETH directly through validators. VanEck gave no detailed reason, so the withdrawal does not establish that regulators rejected the product or that investor demand had weakened. It applies only to this proposal and does not rule out future staking-based ETFs. The later report adds that Lido’s total value locked was about $23.6 billion, down from $33.3 billion a year earlier. By comparison, BlackRock’s directly staked Ethereum ETF, ETHB, launched in March 2026 and held $409.8 million in net assets as of 31 March. Separately, spot Ethereum ETFs recorded $129.5 million in outflows the day before the withdrawal request, but VanEck did not link those flows to its decision. For traders, the filing’s withdrawal is a limited setback for a Lido-linked investment product, not a direct change to ETH’s supply or staking activity.

Capital B reported a first-half 2026 net loss of €69.5 million ($78 million), largely due to a €67.5 million ($75.8 million) non-cash impairment on its Bitcoin holdings, based on Bitcoin’s value at the end of June. The accounting charge did not require the company to sell BTC or cover a cash outflow. Capital B’s revenue rose 3.5% year on year to €5.85 million ($6.5 million), while adjusted EBITDA remained negative at €1.07 million ($1.2 million). Despite the impairment, Capital B continued to accumulate Bitcoin. Its reserve grew from 2,823 BTC at the start of the year to 3,139 BTC at the end of June, then reached 3,538 BTC by 30 September, acquired at an average cost of €87,805 per BTC. The company also held 61 BTC for operational needs. It raised about €31.7 million in additional funding between the start of the second half and 15 October, following roughly $30 million raised in the first half. The Paris-listed company completed a 10-for-1 reverse stock split in July. Shareholders also authorised a potential €120 billion-equivalent ceiling for equity and debt issuance; this is a legal limit, not a commitment to raise the full amount. Capital B shares briefly rose 0.5% after the results but remained down 25% year to date. For Bitcoin traders, Capital B’s continued purchases point to ongoing corporate demand, while the non-cash loss itself does not indicate forced selling. Fundraising dependence and weak operating performance are risks for the company, but the reported developments have no clear direct price signal for BTC.

British software engineer Lewis Barber has sued HDR Global Trading, BitMEX’s operator, in London’s Commercial Court, seeking 324.8 BTC—reported to be worth about $27.2 million. The claim concerns 1,053 loss-making perpetual contract trades Barber made on BitMEX between 2018 and 2022. He argues that the operator lacked Financial Conduct Authority (FCA) authorisation to offer derivatives to UK customers, making the trades unenforceable under UK law. An earlier report put the claim at about £20 million and said Barber was seeking the return of his Bitcoin or equivalent compensation under the Financial Services and Markets Act 2000. The allegations have not been tested in court. BitMEX said it had filed a response, while earlier reporting said the claim had not been formally served on HDR Global Trading. The latest report also says the exchange closed in September. The UK case is separate from BitMEX’s US anti-money-laundering case, which resulted in a $100 million fine in January 2025. The lawsuit adds legal uncertainty for BitMEX, but no judgment or direct impact on Bitcoin’s price has been reported.

Evernorth Holdings (XRPN), listed on Nasdaq, plans to deploy part of its approximately 473 million XRP treasury—valued at about $648 million—in institutional strategies from the fourth quarter of 2026. Ripple, Kraken, Coinbase and BitGo are its first named partners. Chief Investment Officer Hugo Jeandesboz will oversee allocation, liquidity and risk. The launch is subject to conditions and regulatory approvals; Evernorth has not disclosed the initial allocation, partner shares or expected returns, and says it will continue accumulating XRP. A later phase could include lending and on-chain credit on the XRP Ledger, subject to validator approval and demonstrated performance. The strategy could support longer-term institutional use of XRP and generate income beyond price appreciation, but execution, counterparty and liquidity risks remain. XRP fell nearly 6% to about $1.30 around the news period, while reported daily volume slipped from $2.8 billion to $2.4 billion. The treasury plan’s eventual market impact will depend on deployment size and execution.

Australia’s financial regulator, ASIC, has proposed stricter rules for crypto exchanges and digital asset custodians, aiming to bring them closer to the framework for traditional financial firms. The proposals cover customer-asset protection and segregation, trading and settlement transparency, conflicts of interest, licensing and financial resources. ASIC is consulting on three possible capital models. Under one option, some platforms without qualifying third-party custody would need at least A$14 million in net tangible assets or 10% of average revenue, whichever is higher; final requirements have not been set. Public submissions close on November 27, 2026, with final guidance expected in March 2027. The licensing framework is scheduled to take effect on April 8, 2027, when new applications open. Existing operators must apply for authorization or a licence variation by October 7, 2027. Firms that apply during the transition may continue operating while their applications are reviewed, subject to conditions. ASIC says it has received more than 140 applications for digital asset-related financial services. The crypto exchange rules could raise compliance costs, while giving Australian traders clearer operating standards and customer protections.

Bitcoin fell from around $82,827 to about $82,142 after September US inflation came in hotter than expected, putting fresh pressure on cryptocurrencies and other risk assets. The Consumer Price Index rose 3.7% year on year, above the 3.6% forecast, while monthly inflation accelerated to 0.6% from 0.4% in August. Core inflation was 2.6%, and gasoline prices jumped 9.1% in a month, accounting for more than half of the overall increase. The report raised market expectations of an October Federal Reserve rate hike to roughly 44%–49%, from 22% previously; an earlier estimate put the probability at 47%. Treasury yields also climbed, with the 10-year yield near 5.3%. Higher rates and yields can tighten liquidity and make non-yielding assets such as Bitcoin less attractive. More than $281 million in crypto derivatives positions were liquidated in 24 hours, much of it from Bitcoin longs. Bitcoin was trading near its $81,847–$82,305 Fibonacci support zone. A daily close below $81,603 could expose support around $80,365, $80,284 and then $78,003. To regain upward momentum, Bitcoin needs to reclaim $84,245, with resistance near $85,301. Traders are watching the US Producer Price Index and the Fed’s October 28 rate decision for further direction.

Metaplanet plans to issue ¥52 billion in five-year, zero-coupon convertible bonds due in 2031, continuing its ¥60 billion share buyback programme. Of about ¥51.9 billion in net proceeds, roughly ¥23.6 billion will repay part of its Bitcoin-backed borrowing, while up to ¥28.3 billion will fund buybacks. Up to ¥25.3 billion is set aside to repurchase as many as 96,934,800 shares—about 7.1% of shares outstanding—through ToSTNeT-3, with the remainder intended for open-market purchases. No proceeds are allocated to buying Bitcoin. Metaplanet says the refinancing will replace some secured borrowing with unsecured debt and reduce interest costs, rather than immediately lower total liabilities. As of September 30, its borrowing stood at about US$649.5 million, equal to 17.7% of its Bitcoin net asset value—above its guideline of less than 10%. The company has not disclosed the ratio after the transaction. The bonds have a ¥339 conversion price, a 29.89% premium to Metaplanet’s October 13 closing share price of ¥261. Conversion could dilute existing shareholders; if investors do not convert, principal remains repayable. Bondholders can put the bonds back after three years, while the company may call them if specified share-price conditions are met. For Bitcoin traders, the deal reduces the company’s reliance on BTC-collateralized borrowing, but provides no direct new Bitcoin demand and leaves the longer-term outcome tied partly to Metaplanet’s share price and access to capital markets.

Interactive Brokers (IBKR), which manages $964.7 billion in client assets, has launched Ethereum staking for eligible Interactive Brokers LLC clients through its Client Portal. Clients can submit ETH staking and unstaking requests and track pending activity. Rewards are credited as additional staked ETH and may compound while staked. Digital-asset infrastructure provider zerohash handles validator operations, blockchain infrastructure, rewards accounting and compliance. ETH is the only asset available for staking at launch, although IBKR says its platform supports trading in 20 digital assets, including Bitcoin, Litecoin and Bitcoin Cash. The company did not disclose staking fees, reward rates or when other assets might be added. The service broadens access to Ethereum staking through a traditional brokerage, but is limited to eligible clients.

BNY and Citadel Securities completed a triparty repo transaction using a tokenized U.S. Treasury, which BNY described as the first reported use of tokenized assets on a major triparty repo platform. The test shows how a tokenized Treasury can serve as collateral in established short-term funding markets. Citadel bought a two-year Treasury note through BNY on Tradeweb. BNY recorded a digital representation of the note on its private ledger and settled it within minutes, rather than the standard T+1 cycle. Citadel then pledged the tokenized Treasury in an overnight repo, with BNY providing cash and administering the collateral. The transaction’s size and financing rate were not disclosed. BNY plans to expand its digital cash and tokenized deposit services and extend Treasury settlement operations into European and Asian trading hours next year. The trial points to potential gains in settlement speed and collateral mobility, but does not establish a broad shift in market practice. For crypto traders, it signals institutional experimentation with tokenization, not an immediate catalyst for cryptocurrency prices or market liquidity.

A Visa-commissioned survey of 14,250 consumers across 14 Asia-Pacific markets found rising interest in stablecoin payments, alongside significant gaps in understanding and trust. Although 66% had heard of stablecoins, only 6% understood how they work. Some 46% said they were likely to use stablecoins within five years, while 16% had used them in the previous 12 months. Misconceptions remain common: 41% thought stablecoins always rise in value, and 49% of those familiar with them believed they were only for crypto trading. Cross-border transfers could be a key growth area: 49% expect stablecoins to become a common way to move money internationally within five years. But fraud and scam concerns, cited by 38% of aware non-users, and a lack of understanding, cited by 36%, may limit adoption. Respondents placed most trust in government- or central-bank-linked providers and regulated financial institutions. Awareness was highest in Hong Kong, India and Thailand, while India and Vietnam led in adoption intent at 67% each. Visa says it is expanding its stablecoin settlement network and working with banks and payment partners on services to issue, transfer and manage stablecoins. Partner Reap is preparing local-currency stablecoins for round-the-clock foreign-exchange settlement, potentially including Hong Kong dollars, won and yen. The survey points to long-term potential for stablecoin payments in Asia-Pacific, but consumer education, trust and protection will be central to wider adoption.

Blur will close its website on November 12, 2026, and Blend will stop matching new NFT-backed loans on the same date. Borrowers must repay outstanding loans by then or risk default. Blur says it will provide a separate tool to withdraw assets after the deadline. The shutdown affects Blur’s frontend, not its Ethereum marketplace contracts, which will remain active on-chain. The BLUR token will continue to govern the protocol’s fee switch, but no replacement interface has been confirmed, leaving users reliant on third-party services for marketplace access. The news follows a steep decline in Blur’s activity: monthly trading volume fell from about $1.43 billion in March 2023 to less than $7 million in March 2026. Blur once captured a large share of Ethereum NFT trading, aided by zero fees, bulk-trading tools and token rewards, but weakening NFT and lending demand and renewed competition from OpenSea have eroded its position. BLUR fell more than 30% after the announcement and was trading near $0.012, according to CoinGecko. The planned closure of Blast, another project founded by Blur’s Tieshun “Pacman” Roquerre, adds to the broader wave of Web3 shutdowns.

Aptos has launched its optional encrypted mempool on mainnet, giving compatible wallets and apps a way to conceal transaction instructions, assets and amounts while validators determine transaction order. The Aptos encrypted mempool is designed to reduce maximal extractable value (MEV), including frontrunning and sandwich attacks. Validators collectively decrypt transactions after ordering is finalized, but sender addresses and gas-fee information remain visible, so the feature does not provide full anonymity. Users can enable encryption one transaction at a time. Aptos says tests with 50 validators added about 20 milliseconds of latency. Encrypted transactions require a minimum gas price twice the base rate, plus 375 gas units for decryption. Petra wallet supports the feature, while the Decibel exchange plans to use it for pending orders. The tool is aimed at traders, institutions, AI agents and developers, but adoption depends on wallet and app support. The launch comes amid broader efforts to curb transaction-ordering exploits. The cited figures include about $60 million in Ethereum sandwich-attack losses over the 12 months ending October 2025 and nearly 6.9 million attacks on Solana over 11 months, affecting roughly 2.2 million wallets and generating $29.7 million for bots. These figures relate to other networks and do not establish equivalent losses on Aptos. APT was reported near $0.80, down 11.5% in 24 hours, indicating no immediate positive price response. For traders, the feature offers optional MEV protection, but added costs and limited privacy may constrain uptake.

The US Commodity Futures Trading Commission (CFTC) has proposed treating event contracts on sports, elections, culture and weather as swaps, while a separate interim rule would exclude qualifying traditional sportsbook bets from the swaps definition. The proposals distinguish prediction markets such as Kalshi and Polymarket US from sportsbooks by how they operate: prediction markets match buyers and sellers on multilateral platforms, while sportsbooks set odds and take bets directly. To qualify for the exclusion, sportsbook products would need oversight by state or federally recognised tribal gaming authorities and could not trade on a multilateral market. The CFTC says event contracts are commodity derivatives within its remit. Its filings show at least seven registered designated contract markets offered such contracts as of 1 September 2026. Reported event-contract volume reached about $1.5 billion in August, including roughly $1.2 billion in sports contracts. The proposals have 30-day public comment periods and would not automatically approve every prediction-market product: platforms would still face requirements covering manipulation, surveillance and customer protection. The move offers prediction markets a clearer federal regulatory argument, but does not settle the dispute with state regulators. Appeals courts have issued conflicting rulings on whether sports event contracts fall under federal derivatives law or state gambling rules, leaving further litigation possible. For crypto traders, the development is primarily a US regulatory signal for prediction markets rather than a direct catalyst for cryptocurrency prices.

DATA Network plans to retire its independent blockchain and migrate Trace, its AI training data rights registry, to Sui. The Sui Foundation says it is investing $30 million in DATA Network and will become its largest institutional holder; the announcement does not describe a $30 million purchase of SUI. The deal’s valuation, token allocation and payment structure have not been disclosed. After the move, Sui will provide blockchain infrastructure for recording data rights and may support settlements, while Walrus is planned as the default file-storage layer for DATA Foundation applications. The partners report that Trace has logged more than 250 million contributions and processes over three million receipts daily. These figures have not been independently audited and predate the migration, so they do not establish future Sui transactions, paid licenses or recurring fees. Existing DATA tokens are expected to migrate to Sui at a 1:1 ratio, with governance rights, economic benefits and locked or vesting schedules preserved. The current chain will remain live until the transition is complete, but no final migration date or detailed holder instructions have been announced. For SUI traders, the DATA Network partnership could bring activity and network fees to Sui, but the scale of any token demand is uncertain. Apps may sponsor transaction costs, and receipts could be bundled or recorded offchain. Traders will be watching for a migration timeline, live contracts, measurable SUI spending, accessible licensed files and repeat paying customers. Until those signals appear, the deal is an adoption signal rather than evidence of a near-term price catalyst.

French lawmakers have proposed requiring residents to report self-custody crypto holdings worth at least €100,000 on 31 December each year. The proposal, put forward by three LIOT deputies, would carry fines of up to €10,000 for non-compliance and applies to assets held outside crypto-asset service providers, such as in personal or hardware wallets. The self-custody wallet disclosure plan is intended to address an estimated tax gap: a parliamentary inquiry put crypto capital gains at €3.5 billion in 2021, compared with €400 million declared. An earlier proposal with a €5,000 threshold was rejected. The measure is not law; although the amendment was approved in committee, the budget revenue section was rejected, and parliamentary debate was due to resume on 13 October. Other proposed measures include an exit tax on crypto holdings above €800,000 for people moving abroad and ending tax deferrals on stablecoin conversions. If enacted, the self-custody crypto reporting rule would chiefly affect larger holders; its direct price impact remains uncertain.

STRK surged to about $0.07–$0.073, a nine-month high, after Starknet said it is considering leaving Ethereum as a Layer 2 to become an independent Layer 1. Reported gains reached 19%–40% across October 8–9. Futures open interest rose more than 50%, while Starknet DEX trading volume reached about $33.7 million and network fees hit a seven-day high of roughly $13,685 on October 8. StarkWare CEO Eli Ben-Sasson said an independent network could give Starknet more direct control over security upgrades and transaction validation, supporting its goal of adopting quantum-resistant cryptography by 2027. The concern is that future quantum computing could threaten elliptic-curve cryptography, although no quantum computer can currently break it. Ethereum’s roadmap is expected to deliver core post-quantum infrastructure around 2029. The Layer 1 transition remains under consideration and would require governance approval, as well as a separate validator and security system. The proposal has lifted STRK sentiment, but rising leverage and uncertainty around approval could increase volatility. Traders will watch for a formal proposal and sustained on-chain activity.

Bitcoin life insurer Meanwhile has raised $37.5 million in a funding round led by existing investor Bain Capital Crypto, bringing its total funding to more than $180 million. Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital also participated. Sam Altman backed the company in an earlier round but was not named as an investor in this financing. Meanwhile says it is the first life insurer licensed to operate entirely in Bitcoin. Its Bermuda-based insurer holds a Class IILT license, with reserves and financial statements denominated in Bitcoin. The company plans to use the funding to expand its Bitcoin life insurance business across Asia, Europe and the Middle East, where it says demand from wealthy families is growing. It has signed 15 brokers serving high-net-worth clients, including in Singapore, Hong Kong, Switzerland and the UAE. The BTC Life 1-Pay policy allows eligible customers to pay a single premium in Bitcoin for a guaranteed death benefit denominated in Bitcoin. After the first year, policyholders can borrow against up to 90% of the policy’s value, according to the company. Meanwhile has not disclosed policy sales, premiums, revenue or its valuation. The expansion highlights a growing use case for Bitcoin in insurance and digital-asset succession planning, but the funding announcement alone does not establish a direct impact on BTC’s market price.