Crypto News

Sui’s Hashi Bitcoin lending protocol is preparing for a phased mainnet launch later this month, backed by more than $500 million in commitments from over 20 industry partners. The funds are commitments, not deposits, and are intended to support liquidity at launch. Hashi lets institutions lock BTC in a Bitcoin vault and receive hBTC on Sui, which can be used as collateral in lending, borrowing and other DeFi markets; burning hBTC triggers the release of the original BTC. The design aims to put Bitcoin to work without moving it off the Bitcoin network, targeting a large pool of idle BTC. Anchorage Digital, alongside partners including BitGo, Bullish, Cumberland, FalconX and Ledger, is joining the launch coalition. Anchorage plans to support access through its Atlas collateral infrastructure and Porto wallet, and to provide stablecoin liquidity. Sui says Hashi uses 2-of-2 multisignature controls; Certora verified its smart contracts, while CommonPrefix reviewed its MPC cryptography. The commitments could seed Bitcoin-backed credit markets on Sui, but actual adoption, liquidity and custody and technical risks will become clearer as the rollout progresses.

Netflix has released the trailer for The Altruists, an eight-part limited series about the rise and collapse of FTX. The series is scheduled to premiere worldwide on November 19, 2026. Anthony Boyle plays FTX founder Sam Bankman-Fried, while Julia Garner portrays former Alameda Research chief Caroline Ellison. The drama follows their relationship and the growth of the crypto business before FTX collapsed in November 2022, leaving customers facing an $8 billion shortfall. Bankman-Fried was convicted of fraud and conspiracy and sentenced to 25 years in prison in 2024. Ellison pleaded guilty, cooperated with prosecutors and was released in January 2026 after serving her sentence. Inspired by reporting from New York Magazine and Vox Media, the series may renew public discussion of the FTX scandal, exchange transparency and customer-asset safeguards. Its release does not directly change crypto market fundamentals.

A forensic review commissioned by the LAPTOP project says the meme coin’s launch-day surge and crash were driven by extremely thin liquidity and market-maker activity, rather than founder selling. It reports that a market maker received $500,000 but put only about $5,200 into the initial pool, which held fewer than 30,000 LAPTOP tokens. A buy order of roughly $6 could move the quoted price by 5%, while a sale of about $7,400 could cause a similar move. LAPTOP rose from $0.05 to around $317 in under two minutes, then fell 98% from its peak in the first hour. A linked liquidity position was withdrawn 84 seconds after the high, and the review identified significant gains associated with two unnamed market makers. On-chain records showed no outgoing transfers from the wallet holding the founders’ 300 million LAPTOP tokens—30% of the original supply—through October 2; an earlier update said the tokens remained unmoved as of October 7. Hunter Biden said his allocation is locked for six months and then vests over two years. He accepted responsibility for hiring the market makers and urged the firm he believes mishandled the launch to buy back and burn tokens. The review’s conclusions are not independently settled: the project commissioned it, and the market makers have not publicly responded. LAPTOP was reported near $0.08, with a market cap of about $29 million, compared with roughly $560 million on launch day. Daily trading volume rose 143% to $4.6 million after the report. The findings may reduce claims of founder selling, but LAPTOP’s launch controversy and fragile liquidity remain risks for traders.

Polygon Labs has added TRON support to its Open Money Stack, allowing businesses to accept, hold, route and pay out USDT on TRON through one integration connected to banking services and other blockchains. The platform combines payment methods, fiat-to-USDT conversion, embedded wallets and blockchain routing. Polygon says more than $94 billion in USDT circulates on TRON—over half of the USDT supply across supported chains—and that TRON has processed more than $30 trillion in cumulative transfer volume. Polygon Trails can route assets between TRON and EVM networks, enabling cross-chain settlement without requiring customers to manage bridges themselves. The update gives fintechs, remittance providers and payment companies access to TRON USDT liquidity, positioning the Open Money Stack as a cross-network orchestration layer rather than requiring transactions to move onto Polygon’s own chain. It may make TRON USDT easier for businesses to use in international payments, but Polygon has not announced adoption commitments or expected transaction volumes. The integration therefore expands payment infrastructure without confirming a near-term increase in network activity.

Ethereum researcher Justin Drake has urged crypto firms and large holders to prepare for a worst-case scenario in which AI helps break ECDSA, the signature system used by standard Ethereum accounts and many Bitcoin wallets. He warned such a threat could emerge “in months, not years,” but no practical attack on Bitcoin or Ethereum wallet keys has been demonstrated.

OKX is expanding beyond crypto trading into payments, tokenised assets and AI-powered financial services. At its 6 October OKX NOW event, CEO Star described the exchange as a starting point rather than the company’s end goal. OKX reported that tokenised stocks and traditional-finance perpetual products averaged about $3 billion in daily volume, with peaks of $9 billion. Its OKX Money app operates in more than 30 countries, while the company is developing AI trading tools, derivatives and infrastructure for developers and AI agents. OKX also said X Layer’s DeFi total value locked grew about 11-fold this year, reaching a record in September. The company cited licences or regulatory oversight across markets including the US, Europe, Singapore, Australia and Brazil, alongside partnerships with banks and traditional finance firms. OKX announced an extension of its funding round at a reported $25 billion valuation, with Circle, Ripple and SC Ventures among the participants; the amount raised was not disclosed. OKX and ICE have also submitted notice of plans for a tokenised securities venue under an SEC innovation exemption mechanism. OKB rose more than 6% on the day of the event, according to the article. The announcements reinforce OKX’s growth ambitions, but adoption, regulatory approvals and the eventual revenue impact remain uncertain.

The IMF completed its second and third reviews of El Salvador’s $1.4 billion financing programme, clearing a disbursement of about $139 million after granting a waiver over the country’s failure to meet a condition linked to Bitcoin holdings. The IMF expects the government to make no additional Bitcoin purchases, apart from documented donations, and to improve transparency around public-sector Bitcoin holdings while reducing the state’s role in crypto-related activities. It said El Salvador’s economy had performed better than expected, supported by improved security, investor confidence and fiscal progress. For Bitcoin traders, the commitments limit the prospect of new government buying pressure, while IMF funding may ease concerns about El Salvador’s financial stability and crypto-policy risks. The decision does not signal renewed official Bitcoin accumulation.

Russia has registered its first crypto exchange operators and digital custodians under rules that took effect on September 1. The Bank of Russia listed four exchanges and five custodians; VTB Bank appears in both registers, while Sberbank is registered as a custodian. The framework also covers brokers and investors, and crypto payments for goods and services remain prohibited. Non-qualified investors may buy most liquid cryptocurrencies up to ₽300,000 a year through one intermediary after passing a test. Qualified investors must also pass a test but face no purchase limit. The latest reported compliance deadline for approved firms is September 1, 2027; an earlier report cited July 1, 2027. Sberbank plans to launch crypto products on December 1, with BTC, ETH and USDT expected to be supported, although registration does not mean those products are already available or approved throughout the market. Demand for hardware wallets is also rising: M.Video reported second-quarter unit sales up 107% from the first quarter, while Wildberries reported an 84% year-on-year increase in the first half of 2026. The new crypto regulation creates supervised channels for trading and custody in Russia, but the developments do not directly change the fundamentals or price outlook of BTC, ETH or USDT. Meanwhile, US crypto legislation, including the CLARITY Act, remains stalled.

A later report said a US government-linked wallet moved about $470 million in seized crypto, including 4,695 BTC, WBTC and USDT. Arkham and Bitcoin News reported the transfers, while analyst @TimechainIndex identified the BTC across four transactions. The assets were linked to seizures involving the Bitfinex hack and FTX/Alameda, and some funds went to Coinbase Prime deposit addresses. The transfers followed an earlier report of 833.599 BTC, worth about $71.56 million, sent to Coinbase Prime and 40,285 BNB, worth about $31.63 million, moved to a new wallet. Those earlier holdings were linked to the Potapenko/Turogin and Bitfinex cases, and FTX/Alameda seizures, respectively. Neither report confirmed a sale. Coinbase Prime deposits may prompt traders to watch for further transfers, but a transfer alone does not establish selling. A 2025 executive order bars the sale of BTC held in the Strategic Bitcoin Reserve; other forfeited assets are handled under a separate Treasury stockpile framework.

GSR has launched Hare, an on-chain credit and vault business built with liquidity distribution platform Turtle. GSR plans to provide a multi-year credit facility of up to $100 million as anchor liquidity for Hare vaults. The facility is primarily credit lines, not a one-time cash investment; GSR intends to deploy its own capital first and later open the products to outside investors, including institutions. The first GSR Hare vaults are supported by Aave. Hare USD Earn pools major dollar stablecoins to generate lending yield. Hare Gold Earn, developed with Paxos Labs, offers yield for holders of tokenized gold products PAXG and PAXGy. Hare says it will assess collateral, counterparties and position risks, including under market stress. Vaults.fyi data cited in the later report put assets under management across about 788 curated on-chain vaults at $8.6 billion, with roughly 1.4 million users as of July 2026. The launch expands GSR from market making into on-chain credit and asset management, but does not by itself demonstrate demand for a specific crypto token.

Gate founder and CEO Dr. Han announced Gate Money at TOKEN2049 in Singapore on 7 October 2026. The platform brings fiat currencies, digital assets, stocks, payments and asset management into one account, extending Gate beyond crypto trading. Gate Money supports fiat and on-chain deposits and transfers, asset conversion, and payments via Gate Card; ATM withdrawals and QR payments are available in supported markets. Eligible USDT balances may earn up to 3.6% without a lock-up, subject to product terms. Gate says users may eventually spend assets such as stocks without selling them first, but the announcement did not explain how this would work. Gate cited licenses and registrations in 81 jurisdictions and partnerships with financial providers. Availability, features and fees may vary by market. Users can activate Gate Money by updating the app to version 8.39.0.

Abstract, the Ethereum Layer 2 backed by Pudgy Penguins parent company Igloo, will shut down on 15 December 2026. Users should withdraw assets before the deadline using Abstract’s official Migration Hub or native bridge; withdrawals currently take about three hours, and funds left on the network after closure may become inaccessible. As of 7 October, about $76 million in bridged value was associated with Abstract, but that figure does not mean all those assets will be stranded. Earlier figures put the network’s total value secured at about $47.9 million, with roughly $9.6 million held in its DeFi protocols. Abstract recorded more than 325 million transactions, over $6 billion in decentralised exchange volume and more than four million wallets. However, activity did not generate sufficient sustainable revenue for the network. DefiLlama data showed about $3,900 in chain fees over the latest 24 hours, compared with roughly $39,000 in revenue for applications on Abstract. Igloo cited stalled growth, limited institutional activity and low fee income, and CEO Luca Netz said the company had spent tens of millions of dollars funding the project over 18 months. Igloo will redirect resources to Pudgy Penguins, its NFTs and PENGU, and has ruled out issuing an Abstract token to raise funds. Abstract launched its mainnet in January 2025 after Igloo acquired rollup developer Frame and raised more than $11 million. Its shutdown follows Blast’s closure announcement, but the two decisions alone do not establish that Ethereum Layer 2 networks are broadly failing. Users should verify migration links through Abstract’s official channels and move assets well before the deadline.

Conduit Technology has sued four Tether entities in the US District Court for the Southern District of New York over about $2.76 million in frozen USDT. The complaint, filed on October 5, alleges Tether restricted Conduit’s corporate treasury wallet on September 24, 2025, without prior notice and has not restored access or explained the restriction. Conduit says the freeze was linked to a Brazilian investigation involving former customer Onix Intermediações, but that Brazilian authorities confirmed its wallet was not named for freezing and Conduit was not under investigation. The company is seeking access to the funds, at least $2.76 million in damages and income it says Tether earned on the reserves backing the tokens. The allegations have not been tested in court. The case adds to scrutiny of Tether’s power to freeze USDT, though its immediate effect on USDT trading and the wider market is likely limited; a ruling could influence future stablecoin compliance and custody practices.

Ondo Finance launched Ondo Private Markets on October 6, giving eligible non-U.S. investors tokenized exposure to selected private companies before they go public. The first product references an unnamed pre-IPO artificial-intelligence company, with planned offerings in robotics, cybersecurity, biotechnology, defense, energy, space and infrastructure. The tokenized notes are not shares and do not provide equity ownership or cap-table rights. Instead, payouts are linked to the referenced company’s per-share common-stock value during a qualifying liquidity event, such as an IPO, acquisition or bankruptcy-related event. Secondary-market trading could begin during the launch week, allowing eligible holders to transfer or trade the notes 24/7 through supported markets and self-custody wallets. The product is unavailable to U.S. persons. The launch expands Ondo’s tokenized private markets strategy and may improve liquidity for pre-IPO exposure. However, traders should consider issuer terms, limited price discovery, private-company valuation risk and uncertainty over whether or when a liquidity event will occur. Ondo Finance’s broader tokenization ecosystem reportedly has $3.9 billion in total value, while Ondo Stocks has more than $1 billion in total value locked and supports over 450 tokenized stocks and ETFs.

The UK government has appointed Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets as joint lead managers for DIGIT, the country’s first digital gilt. The digital gilt is expected to launch in the first quarter of 2027 within the UK’s Digital Securities Sandbox. The banks will provide underwriting, investor engagement and distribution. HSBC will supply the distributed ledger technology (DLT) platform. Its partnership with the London Stock Exchange Group is intended to connect digital securities with existing settlement infrastructure. DIGIT will test blockchain-based issuance, trading and settlement in a live financial-market setting. Key issues include links to cash, custody, clearing, legal frameworks and traditional systems. Investors will also assess the issue size and whether non-bank institutions can participate. A successful digital gilt could strengthen the UK’s position in tokenised real-world assets (RWA) and support future tokenised corporate bonds, structured products and cross-border finance. However, a small or closed technical trial would limit its market impact. The project is infrastructure-focused and is not a direct launch of a public cryptocurrency.

Payward, Kraken’s parent company, and Singapore Gulf Bank announced a 24/7 institutional dollar settlement service on 5 October 2026. The integration with SGB Net allows eligible institutional clients in selected Asian and Gulf jurisdictions to settle qualifying US dollar transactions instantly, including outside traditional banking hours. The dollar settlement service is designed to close the gap between continuous digital-asset trading and conventional banking cut-off times. It initially supports US dollars only and is limited to a small group of clients. Singapore Gulf Bank plans to add more clients and currencies, but has provided no timetable. The companies also disclosed no initial transaction volumes or client numbers. Singapore Gulf Bank also plans to connect Kraken Prime as a source of digital-asset liquidity and use Payward’s markets to price customer trades. Supported assets, execution arrangements and launch timing remain undisclosed. SGB said its SGB Net network, launched in 2025, processes more than $20 billion in fiat transactions each month, although that figure does not represent activity from the new partnership. The 24/7 dollar settlement service could improve institutional capital flows, cross-border trading and settlement efficiency in Asia and the Gulf. However, the limited rollout and lack of disclosed volumes mean the immediate impact on cryptocurrency prices is likely to remain limited.

Metaplanet sold 10,000 BTC for ¥124.7 billion (about $793 million) in the third quarter, then repurchased 11,000 BTC for roughly ¥149.9 billion. The Japanese Bitcoin treasury company held 44,000 BTC as of 30 September, with an average acquisition cost of about ¥15.56 million per BTC. Metaplanet said the Bitcoin sale was intended to show credit-rating agencies and bond investors that it could convert BTC into cash to meet debt obligations. The proceeds were held as cash before the repurchase, while existing bonds and loans were not repaid or redeemed. The buyback price was about 9.3% higher than the sale price, creating an estimated ¥11.57 billion spread cost on the equivalent of 10,000 BTC. The company said a potential US tax capital loss could create a deferred tax asset of about $97 million, subject to auditor approval. Third-quarter revenue from its Bitcoin options business fell to ¥848 million from ¥1.75 billion in the second quarter. Metaplanet plans to seek a credit rating and expand access to bond and preferred-stock financing. It also revised its capital allocation policy to keep Bitcoin at 85% to 90% of total assets, with the remainder directed to acquisitions, income-producing investments and a planned asset-management business. Its Net Interest Income Strategy may use Bitcoin-backed financing to buy yield-generating assets. The transaction is unlikely to materially affect Bitcoin supply, but it highlights liquidity, leverage and execution risks for Bitcoin treasury companies.

OKX and Intercontinental Exchange (ICE), owner of the New York Stock Exchange, are advancing OKXICE, a proposed platform for 24/7 trading in tokenized U.S. stocks. The project has notified the U.S. Securities and Exchange Commission (SEC) that it plans to operate under the agency’s Innovation Exemption. More than 60 stocks could be included, such as Nvidia, Tesla, Apple, Microsoft, Amazon, AMD, Palantir, Coinbase, Robinhood, Circle and JPMorgan. Each tokenized stock would be backed by an underlying share held by a registered broker-dealer. Investors could receive related economic and shareholder rights, including dividends and voting rights. Trading could run on permissioned liquidity pools hosted on OKX’s X Layer blockchain. Stablecoins, including USDC, USDT and USDG, may be used for settlement. Eligible wallets would need to pass identity, anti-money-laundering and sanctions checks. The platform could extend trading beyond normal U.S. market hours, including nights, weekends and holidays. Prices may diverge from traditional exchanges when those markets are closed because they would be shaped by on-chain liquidity and demand. Unlike a conventional order book, the venue is expected to use blockchain-based automated market-maker pools. Under the proposed five-year regulatory framework, tokenized securities would have to preserve the rights attached to their underlying shares. Issuers would also receive notice and an opportunity to object. Cerebras Systems has already challenged its proposed inclusion, showing that issuer participation is not guaranteed. For crypto traders, the project could support long-term growth in tokenized stocks, stablecoin settlement and blockchain-based capital markets. However, regulatory approval, corporate participation, liquidity and reliable price discovery remain uncertain. The proposal does not yet guarantee the immediate launch of 24/7 trading.

The Independent Community Bankers of America (ICBA) sued the Office of the Comptroller of the Currency (OCC) on October 2 in Washington, D.C., challenging its authority to grant national trust bank charters to non-deposit-taking crypto firms. The ICBA lawsuit seeks to overturn the OCC’s March 2026 National Bank Chartering rule, Interpretive Letter 1176, and Protego Holdings’ conditional charter issued in February 2026. It also asks the court to block future crypto trust bank approvals based on those measures. ICBA argues that crypto trust banks can avoid deposit insurance, Community Reinvestment Act duties and some bank holding-company oversight, while gaining federal pre-emption over parts of state consumer protection law. It says the OCC approved or conditionally approved 21 trust banks during the Trump administration, including at least 13 crypto companies. The group also claims two member banks each lost hundreds of thousands of dollars in business to conditionally approved crypto firms. The OCC says the rule only clarifies the longstanding authority of national trust banks to conduct non-fiduciary activities. Circle received final approval for a national trust bank in July, while other applicants include Ripple, Paxos, Fidelity, BitGo, Payward, Block and World Liberty Financial. Senator Elizabeth Warren has also questioned the legality of the approvals. The lawsuit does not immediately affect existing charters, but it could shape future crypto custody, stablecoin and digital-asset banking services. Traders should monitor court rulings and upcoming stablecoin rules under the GENIUS Act, as regulatory uncertainty may influence sentiment across crypto markets.

Russia’s Finance Ministry paid some employees in digital rubles for the first time on October 1, bringing the central bank digital currency (CBDC) into regular government payroll. Participation is voluntary, and employees can continue receiving wages through conventional bank accounts or cash. The ministry has not disclosed the number of participants or the total payment value. Employees who opted in opened digital ruble accounts on the Bank of Russia’s platform. In 2025, the Finance Ministry and Federal Treasury processed nearly 16 million digital rubles in pilot transactions, including selected salaries, stipends and government contract payments. Payroll transfers will remain free through the end of 2026, with a planned fee of 67 kopecks per instruction from 2027. The latest step follows wider digital ruble access through major banks and selected large retailers from September 1, 2026. Consumers can use the digital ruble voluntarily for payments and transfers, while covered banks and merchants must build the required infrastructure. The rollout is scheduled to expand in stages through 2028. Russia is also testing programmable budget payments and exploring possible cross-border CBDC settlements, including with India. The European Union’s sanctions regime prohibits support for developing Russia’s digital ruble. The digital ruble is separate from private cryptocurrencies such as Bitcoin and Ether. For crypto traders, the digital ruble rollout is mainly a policy and payments-infrastructure signal, not a direct market catalyst. It could support long-term CBDC adoption and influence crypto regulation, but it is unlikely to create an immediate price effect for major cryptocurrencies.

Citi has raised its 12-month Bitcoin price target to $113,400 from below $82,000, implying about 35% upside from Bitcoin’s current price near $83,900. The bank cited stronger crypto market activity, renewed US spot Bitcoin ETF inflows, improving macroeconomic conditions, clearer regulation and rising institutional demand. Citi expects about $5 billion to flow into crypto markets over the next year as financial advisers and brokerages increase Bitcoin allocations. Although the US Senate’s failure to advance the CLARITY Act initially pressured sentiment, subsequent announcements from the SEC and CFTC helped limit the impact. The bank also raised its target for Strategy, a major corporate Bitcoin holder, to $240 from $136 and maintained a buy rating. Strategy shares have recovered to about $160 after falling below $100 during the summer. Citi estimates that Bitcoin appreciation could generate 34% of the company’s projected upside, while a higher market-to-net-asset-value premium could contribute another 16%. Earlier market signals also pointed to Bitcoin holding higher support levels after leveraged positions were cleared. Ethereum’s Glamsterdam upgrade is scheduled to reach the Sepolia testnet on 6 October, adding parallelised processing and enhanced access lists. Traders should monitor Bitcoin ETF flows, institutional accumulation, derivatives positioning, Federal Reserve policy and regulatory developments. Strategy provides more leveraged and volatile Bitcoin exposure, while the wider market remains sensitive to macroeconomic shocks.

Stand With Crypto has expanded its bipartisan US midterm election endorsements after the Senate failed to advance the CLARITY Act. The bill received 49 votes, below the 60 needed to proceed. The Coinbase-backed group supports more than 30 House members who backed digital asset market structure legislation. It has also endorsed Republican candidates Jon Husted in Ohio and Ashley Hinson in Iowa, alongside Democrat Chris Pappas in New Hampshire. Additional House endorsements include Republican Mariannette Miller-Meeks and Democrat Shomari Figures. Stand With Crypto plans advertising in six House races, including Democrat Don Davis’s contest in North Carolina. The group says its more than three million supporters will consider candidates’ crypto voting records. Its campaign is bipartisan and focuses on mobilising voters rather than directly funding candidates. The endorsements may influence future US crypto regulation, while wider industry political spending has approached $200 million for the 2026 election cycle. The Ohio contest is particularly important because a return by crypto sceptic Sherrod Brown could affect the Senate Banking Committee. However, the political developments are unlikely to create an immediate trading catalyst for Bitcoin or Ether.

Bitwise launched the Bitwise NEAR ETF under ticker NRR on NYSE Arca on September 29, 2026. The fund is described as the first US spot NEAR ETF, giving investors exchange-listed exposure to NEAR without directly holding the token. The NEAR ETF plans to stake its holdings. Staking rewards will be reflected in the fund’s net asset value rather than paid directly to shareholders. Bitwise cited an annualized staking rate of about 5.3% as of September 25, but returns are not guaranteed. About 33% of staking income may go to staking agents, the custodian and Bitwise, leaving the fund with roughly 67% before other considerations. NRR charges a 0.75% management fee. Traders should weigh potential staking income against fees, NEAR’s volatility, slashing risks, redemption delays and the possibility that realized returns fall below the cited rate. Bitwise is marketing NEAR as settlement infrastructure for AI agents and highlighted NEAR Intents, which it said processed more than $32 billion in volume. The fund expands Bitwise’s US altcoin ETF lineup and could improve institutional access to NEAR. However, the short-term price impact will depend on NRR’s trading volume, asset inflows and broader market conditions.

Binance is facing scrutiny from the European Securities and Markets Authority (ESMA) and regulators in France, Germany and Greece over its use of MiCA’s reverse solicitation exemption. The rule allows limited services when customers independently contact a non-EU provider, but it does not permit marketing or promotion in Europe. Regulators are reviewing Binance’s service model, customer agreements and links to its Abu Dhabi-regulated business. The review follows Binance’s reported withdrawal of its Greek MiCA licence application and the end of transition arrangements that restricted unlicensed crypto firms from 1 July. Binance says it complies with local rules and is reportedly seeking a MiCA licence. No formal enforcement action or penalty has been announced. If regulators determine that Binance breached MiCA, the exchange could face service restrictions or other measures. The case could set an important precedent for reverse solicitation and crypto exchange access to EU customers without local authorisation. The immediate trading impact is likely to be limited, but prolonged uncertainty or restrictions could disrupt Binance’s European operations and weigh on BNB sentiment.

Illinois officials and crypto industry groups have asked a Sangamon County Circuit Court to delay the Digital Asset Tax by six months. The 0.2% tax was due to begin on 1 January 2027, but enforcement would move to 1 July 2027 if the judge approves the agreement. The Digital Asset Tax would apply to certain crypto purchases and transfers, with exchanges and digital asset brokers responsible for collection. Lawmakers estimate it could raise up to $60 million in 2027. The Digital Chamber and Illinois Blockchain Association argue that the tax is unconstitutional, may affect businesses and users outside Illinois, and could impose costs even when no investment gain is realised. Their legal challenge cites interstate commerce, due process, penalties, property-tax limits and federal protections for online commerce. A separate challenge is also being pursued by the Blockchain Association and Crypto Council for Innovation. The proposed Digital Asset Tax delay does not settle the case and will take effect only after a court order. Illinois must respond to the amended complaint by 13 November. For exchanges and traders, the delay reduces near-term compliance pressure but leaves significant regulatory uncertainty.

Hyperliquid’s HYPE token climbed about 13% to roughly $91 after news of the deal, then rose more than 16% to trade near $93 in later coverage. The token was about 5% below its September record of around $98, with an earlier report putting its market capitalisation at about $22.4 billion. Intercontinental Exchange (ICE), owner of the New York Stock Exchange, agreed to become the exclusive operator of Trade[XYZ]’s regulated markets and took a minority stake in the company. ICE plans to develop ICE[XYZ], a US retail trading and clearing venue for leveraged perpetual futures covering equities, indices, commodities, currencies and crypto. The launch requires Commodity Futures Trading Commission approval; customers would access the service through participating futures commission merchants and undergo identity and anti-money-laundering checks. No launch date has been announced. Trade[XYZ] said its Hyperliquid-based markets have recorded more than $650 billion in volume in just over a year. Its existing HIP-3 markets will continue. Investor Stan Druckenmiller is also backing the venture. The deal adds an institutional catalyst for Hyperliquid and HYPE, but regulatory approval and the time needed to launch remain key risks for traders.

Bitwise Asset Management has raised its Bitcoin price target for 2036 from $1.3 million to $1.6 million, forecasting annualised returns of about 34%. The projection assumes Bitcoin captures 25% of the global store-of-value market and 1% of institutional investment assets; Bitwise’s bear-case estimate is $130,686. The firm has also suggested that institutions consider allocating 1% to 5% of portfolios to Bitcoin, while flagging risks such as quantum computing and regulatory changes. CIO Matt Hougan said Bitwise is more bullish than it was a year ago, citing Bitcoin’s long-term store-of-value potential. The long-term Bitcoin outlook contrasts with weak near-term momentum. BTC is trading around $81,000, near or slightly below its 50-day moving average, after a particularly weak October. Daily RSI readings are around 45–46, and MACD remains below its signal line. The 200-day moving average near $76,000 is key support; a sustained break below it could expose the next support near $65,000. Resistance is around $82,000, followed by $85,000–$87,000. With no confirmed bottom and traders watching upcoming Federal Reserve decisions, Bitwise’s forecast has not yet changed Bitcoin’s short-term technical picture.

Ripple said at its Swell conference that it expects its annualized product revenue run rate to approach $900 million by the end of 2026. The figure is a forward-looking estimate based on current activity, not audited full-year revenue. Ripple attributed growth to payments, custody, prime brokerage, treasury management and RLUSD, citing enterprise demand and the integration of acquisitions. Ripple says more than 1,700 institutions, companies and enterprises use or have access to its digital-asset infrastructure, and that customers using multiple products tripled in 2026. Its products enabled more than $16 trillion in transactions in 2025, while its payments network is forecast to reach $150 billion in lifetime volume by year-end. RLUSD’s market capitalization has risen more than 88% this year to $2.6 billion. Ripple also highlighted an expanded BNY relationship involving tokenized trade finance, partnerships with Robinhood and DriveWealth, and final US regulatory approval for Ripple National Trust Bank. The figures span Ripple’s product portfolio and do not represent XRP trading volume or direct demand for XRP. Ripple’s business expansion has not translated into price gains for XRP, which is down nearly 29% year to date. Traders will be watching for recurring revenue, real-world payment activity and measurable use of XRP Ledger transactions or RLUSD settlement to assess whether the growth has lasting implications for XRP.

Singapore police are investigating reports that users lost about S$35 million after buying tampered Ledger hardware wallets from local retailers. An earlier report put the losses at about S$3.5 million; the reported totals differ. Investigators suspect malicious components may have captured recovery phrases or private keys, allowing unauthorised transfers. Ledger is reviewing the cases and has suspended sales and shipments across several Southeast Asian markets, including Singapore. The company has said confirmed cases involved reseller channels, not its own systems or direct sales. A separate estimate of more than US$86 million in losses has not been verified by Ledger. The investigation highlights supply-chain risks for hardware wallets: users who suspect exposure should stop using the device, create a new wallet on an uncompromised device and transfer remaining assets. For crypto traders and holders, the incident is a reminder to verify wallet sources and protect recovery phrases.