Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

President Biden’s CFTC nomination of former commissioner Brian Quintenz has been officially withdrawn after opposition from Gemini founders Tyler and Cameron Winklevoss and other industry stakeholders. The stalled CFTC nomination process, which began in July, was halted to ease political tension over crypto regulation and digital asset oversight. Acting CFTC Chair Caroline Pham will continue leading the agency while the White House evaluates successors, including SEC Crypto Task Force head Michael Selig, Treasury counselor Tyler Williams, former commissioner Jill Sommers and partner Josh Sterling. This shift highlights ongoing regulatory uncertainty and could delay pivotal rules on digital-asset derivatives and market stability.

Ripple CTO exit: David Schwartz, a 13-year veteran and co-founder of the XRP Ledger, is stepping down from day-to-day duties to join Ripple’s board as an adviser, enabling him to focus on family and XRPL side projects while continuing development work. Following the Ripple CTO exit announcement, XRP slid 1.2% before rebounding 4% on a Bitcoin-driven market uptick after the U.S. government shutdown. On-chain and derivatives metrics signal bullish trader positioning, with Binance long exposure rising from 67% to 70% over three days amid three months of consolidation. Concurrently, Ripple’s US dollar–backed stablecoin RLUSD is approaching an $800 million market cap, fueled by $50 million in inflows via BlackRock and VanEck partnerships and expansion into African markets. Analysts view Schwartz’s advisory shift as a strategic realignment rather than a full departure and caution that RLUSD’s growth may bolster Ripple’s payments ecosystem without guaranteeing sustained XRP price gains. Traders should monitor on-chain metrics, derivatives flows and broader crypto catalysts for XRP’s next directional move.

CoinShares has agreed to acquire London-based Bastion Asset Management, pending UK FCA approval, to enhance its active crypto ETF lineup. Bastion brings 17 years of systematic, alpha-generating strategies and a market-neutral quantitative team. Its founders will join CoinShares to develop institutional-grade active crypto ETFs that can deliver returns beyond broader market trends. The deal expands CoinShares’ digital asset platform beyond passive ETFs. In parallel, CoinShares plans a US SPAC listing and leverages its SEC-registered advisor status under the Investment Company Act of 1940 to launch these active crypto ETFs in the US. This move differentiates CoinShares from passive-focused rivals and aligns with rising institutional demand for dynamic crypto funds.

Binance quickly regained control of its hijacked X account after a $13,000 BNB Chain phishing scam targeted users with fake WalletConnect prompts. The attacker posted malicious approval requests on the compromised BNB Chain account to drain funds across multiple chains. Binance suspended the X handle, issued takedown notices for phishing domains and promised full compensation to all affected users. Security teams are tracking the perpetrator, who may be linked to a KYC-verified identity. The BNB price remained stable near $1,011, slipping 1.5% in 24 hours and down 0.5% over the week, while rising 5.4% in two weeks and 18.3% in 30 days. This BNB Chain phishing scam underscores the need for crypto traders to verify official domains and stay alert to social-engineering attacks.

The House Financial Services Committee has launched a probe into missing SEC texts from former chair Gary Gensler after an OIG report revealed automated IT settings wiped his government phone contents between October 2022 and September 2023. This deletion erased communications tied to more than $400 million in enforcement actions and digital-asset cases. Lawmakers led by Representative French Hill, alongside Ann Wagner, Dan Meuser, and Bryan Steil, point to weak IT controls, flawed backups, ignored alerts, and software issues, demanding detailed records from current SEC Chair Paul Atkins. In parallel, Coinbase has asked a federal court to sanction the SEC over the missing SEC texts, underscoring concerns about regulatory transparency and record-keeping at the SEC. Crypto traders should watch for potential shifts in SEC oversight and crypto regulation as this investigation unfolds, which could impact market stability and policy clarity.

The U.S. Securities and Exchange Commission (SEC) is working on a regulatory framework to permit tokenized stocks—digital shares of traditional equities recorded on a blockchain—on approved crypto exchanges. Following meetings with the NYSE and the SEC Crypto Task Force, the SEC has received filings from Nasdaq and interest from platforms such as Coinbase, Robinhood and Kraken. SEC Chair Paul Atkins has endorsed tokenization as an innovation to boost market efficiency and investor access. Citadel Securities cautioned against regulatory arbitrage and urged that tokenized stocks deliver genuine efficiency gains. Institutional engagement is rising: BlackRock launched a tokenization division, and pilot projects in Europe and Asia are testing real-time settlement of tokenized securities. If adopted, the framework could lower trading costs, accelerate settlement, and broaden access for retail and institutional investors.

Record inflows into US spot Ethereum ETFs reached $547 million in a single day, led by Fidelity’s FETH ($202M) and BlackRock’s ETHA ($154M). Spot Ethereum ETF assets now total $27.5 billion, or about 5.4% of ETH’s circulating market cap. The inflows helped push Ether above $4,000. On-chain data shows exchange reserves declining as investors move ETH into custody and staking. Corporate treasuries are increasing exposure: BitMine Immersion holds 2.65 million ETH, while Bit Digital plans a $100 million convertible note to buy more ETH. Technically, ETH has rallied over 250% from cycle lows. Analysts forecast targets of $4,500–$5,000, with a longer-term swing toward $10,000 under favorable macro conditions, assuming sustained closes above $4,200. Failure to hold could see a retest of $3,800–$3,600. Traditional finance integrations are advancing. SWIFT piloted Ethereum’s Linea Layer-2 with BNP Paribas and BNY Mellon. SWIFT and ConsenSys are exploring a 24/7 on-chain payment ledger. These developments and reduced exchange supply support a bullish outlook for ETH.

Visa has launched a stablecoin pilot to pre-fund cross-border payments with stablecoins USDC and EURC. The Visa stablecoin pilot allows banks and payment providers to load Visa Direct accounts with these tokens, treating them as cash for real-time transfers—even on weekends and holidays. By bypassing traditional banking hours and costly multi-market pre-funding, the pilot reduces liquidity constraints and frees up working capital. Since its SIBOS debut, the program has processed over $225 million in transactions—an important step toward mainstream adoption despite representing a small fraction of Visa’s $16 trillion annual volume. The initiative demonstrates how stablecoins can modernize legacy payment rails and stabilize treasury flows. Visa plans to expand the stablecoin pilot to more partners next year, further integrating digital assets into traditional finance.

President Donald Trump has officially withdrawn Brian Quintenz’s CFTC nomination, leaving the Commodity Futures Trading Commission without a permanent chair. Quintenz, a former commissioner and crypto-policy lead at Andreessen Horowitz, said disputes with Gemini founders Tyler and Cameron Winklevoss stalled his CFTC nomination. The agency remains under Acting Chair Caroline Pham, who will step down once a permanent chair is named. His exit coincides with congressional debate over the Digital Asset Market Clarity Act, which aims to assign crypto regulation of Bitcoin (BTC) and Ethereum (ETH) to the CFTC. Traders face extended regulatory uncertainty amid this leadership vacuum during a critical period for US crypto oversight.

On September 28, an XPL whale boosted a 5× leveraged long by acquiring 13.8 million XPL tokens at $1.55, which climbed to $1.64, netting an unrealized $1.178 million profit and valuing the position at $22.62 million. On October 1, the same (or another) XPL whale accumulated 36.23 million XPL spot tokens worth $37.69 million—now showing a $197,000 unrealized loss—while liquidating 2× leveraged longs and opening $680,000 in new 3× leveraged positions, which are being gradually reduced. This sequence highlights significant XPL whale activity with spot accumulation and leverage rebalancing amid market volatility. Traders should monitor XPL whale movements, price trends and liquidity to assess short-term momentum and manage risk.

BNB surged past $1,000, breaking a key psychological barrier as regulatory relief in the US and Abu Dhabi lowered policy risk. Institutional demand rose as Franklin Templeton, VanEck and other asset managers, along with listed firms, built significant BNB reserves. On-chain data show BNB Chain daily transactions hit 16.5 million, with opBNB leading user activity. Recent Maxwell hard fork reduced block times to 0.75 seconds and slashed gas fees tenfold, while quarterly token burns cut supply to 139.3 million. Partnerships on real-world asset tokenization and ETF filings further boosted market confidence. Traders should monitor tokenomics, regulatory shifts and network upgrades for BNB’s ongoing price dynamics.

Republic will tokenize private equity in Animoca Brands on the Solana blockchain, minting on-chain tokens and distributing them to investors’ wallets. The platform will enable trading of these digital shares on a secondary marketplace. This tokenization model aims to democratize access to high-growth private equity, boost liquidity in real-world asset (RWA) markets, and set a precedent for compliance-driven RWA tokenization. Securities-compliant equity tokens will follow regulatory guidelines; pricing and launch dates are pending. The announcement highlights a surge in RWA tokenization, with firms like BlackRock and VanEck issuing tokenized funds and Nasdaq-listed Forward Industries planning on-chain equity. Animoca Brands will use tokenization to raise fresh capital, building on recent investments in Bio Protocol, the restructuring of The Sandbox (SAND), and a joint Web3 entertainment fund with Ibex Japan.

PayDax Protocol has launched its PDP presale at $0.015, targeting early investors with up to 100x ROI and an 80% discount via the PD80BONUS code. This PDP presale introduces a direct DeFi lending model: lenders can earn up to 15.2% APY, while borrowers pledge crypto (e.g., HYPE, SOL) and tokenized real-world assets (gold, luxury items) as over-collateralized loans without selling holdings. The community-driven Redemption Pool offers up to 20% APY in insurance premiums. Advanced features include leveraged yield farming exceeding 40% APY and real-time collateral monitoring. Security is reinforced by full KYC, smart contract audits from Assure DeFi, and strategic partnerships with Christie’s, Sotheby’s, Brinks, Prosegur, Chainlink, Jumio, and MoonPay. With over 20% of Round 1 sold and Q4 bull-run expectations, the limited PDP presale window may close early, positioning PayDax Protocol as the “People’s DeFi Bank” aimed at driving sustained PDP token demand.

US regulators are investigating unusual trading ahead of companies’ crypto treasury announcements. The SEC and FINRA have sent inquiry letters to over 200 firms, flagging sharp stock price surges and high volumes before disclosures. They warn of potential Regulation Fair Disclosure (Reg FD) breaches, which mandate simultaneous public release of material information. Penalties can reach $500,000 per violation, with individuals also fined; in 2022 AT&T paid $6.25m for similar infractions. Since 2020, firms have emulated MicroStrategy’s strategy of adding digital assets to their treasuries. In 2025, 212 companies pledged about $102bn to hold Bitcoin (BTC) and Ethereum (ETH). Some have launched share buyback programs after initial gains faded. The probe underscores regulators’ aim to ensure compliance in crypto treasury plans and may foreshadow tighter disclosure rules.

Andre Cronje’s Flying Tulip, a full-stack DeFi exchange, closed a $200 million SAFT-based seed round at a $1 billion fully diluted valuation. The New York–based platform will host an $800 million public sale of its native FT token on-chain, bypassing traditional ICO venues. Flying Tulip integrates spot and derivatives markets, lending, money markets, a native stablecoin (ftUSD) and on-chain insurance under a cross-margin system. Its signature feature is an on-chain Redemption Right: investors can burn FT tokens to reclaim their initial contribution, capping downside. During the public sale, FT tokens are non-transferable to curb arbitrage. No team allocations will be issued at launch; instead, the team will use protocol revenues to buy back tokens via scheduled buybacks. Seed funding remains invested across protocols like Aave and Spark at about 4% yield, generating roughly $40 million annually for development, ecosystem incentives and buybacks. Flying Tulip plans to launch first on the Sonic chain with zero-fee trading, then expand to Ethereum, Avalanche, BNB Chain and Solana.

Cardano has risen 3.33% to $0.7964, reflecting renewed bullish sentiment in DeFi and Layer-2 solutions. ADA’s market cap stands at $28.6 billion with $857 million in daily volume. Meanwhile, Remittix (RTX) has secured $26.7 million in its cross-chain DeFi presale, selling 672 million tokens at $0.1130 each. Certified as the top pre-launch token by CertiK, Remittix has confirmed listings on BitMart and LBank after reaching $20 million and $22 million milestones. The project’s Beta Wallet supports instant crypto-to-bank transfers across 40+ cryptocurrencies and 30+ fiat currencies with low gas fees. Additional incentives include a $250,000 community giveaway and a 15% USDT referral program. These developments highlight growing demand for real-world utility projects alongside ADA’s ongoing rally.

NYDFS Chief Adrienne Harris will resign next month, with Executive Deputy Superintendent Kaitlin Asrow appointed interim head on October 18. Under Harris’s tenure, NYDFS pioneered the BitLicense framework in 2015 and issued 11 updates refining crypto regulation, including stablecoin guidance, blockchain analytics and asset listing rules. Asrow’s appointment ensures continuity in the department’s strict BitLicense enforcement and stablecoin oversight. Crypto traders should review compliance programs and monitor potential shifts in guidance timelines under the new leadership, though no immediate policy changes are expected.

Jump Crypto’s Firedancer team submitted proposal SIMD-0370 to lift Solana block compute limit after the Alpenglow upgrade. The current Solana block compute limit of 60 million compute units per block serves as a safety measure. Uncapping would let high-performance validators include more transactions, boosting network throughput and resilience during DeFi spikes or token launches. The plan also adds a skip-vote scheme where less powerful nodes only vote on oversized blocks to maintain availability. Supporters say dynamic block scaling could reduce congestion, failed trades and create a hardware upgrade flywheel for increased fees and revenue. Critics, including Alpenglow contributor Roger Wattenhofer and Solana founder Anatoly Yakovenko, warn that uncapping may centralize power among advanced validators and question the need given modest fee medians and demand spikes. The proposal is under community debate. If approved, it could mark a key step in Solana’s scaling roadmap, driving higher SOL transaction volumes and enhanced user experience.

Crypto Mayor Eric Adams has suspended his bid for the 2025 New York City mayoral race, citing a crippling campaign finance crisis and relentless media scrutiny. The New York City Campaign Finance Board disqualified key donations and denied public matching funds, stripping Adams of hundreds of millions in resources. A prominent Bitcoin advocate who took his first three mayoral paychecks in BTC and hosted NYC’s inaugural crypto summit, Adams also pushed to reform the state’s restrictive BitLicense framework to boost digital asset innovation. The crypto mayor’s departure may delay local crypto adoption initiatives and reshuffle voter blocs—particularly union and Black voters—potentially benefiting rival Andrew Cuomo. With no endorsements given, Zohran Mamdani emerges as frontrunner. This withdrawal is a setback for New York’s digital asset agenda, with potential bearish implications for the crypto ecosystem.

Greg Cipolaro, head of research at NYDIG, has urged crypto firms to ditch the market-cap-to-net-asset-value (mNAV) metric. He warns that mNAV misleads by ignoring non-crypto operations and assuming convertible debt is equity, exaggerating share counts and distorting valuations. Cipolaro cites Strive’s merger with Semler Scientific to illustrate post-merger NAV-per-share adjustments and the risk of mispricing premium or discount levels. He recommends traders focus on net asset value per share, yield generation and operational returns instead of mNAV in isolation. Following this, CryptoQuant has flagged that treasury firms relying on PIPE financing may face stock declines. Traders should therefore reassess valuation methods to avoid pricing risks in crypto equity markets.

CoinGecko survey shows only 55% of new crypto investors started with Bitcoin. Ten percent never bought Bitcoin. Instead, 37% entered via altcoins. Lower unit costs, active communities and hype around Solana, Ethereum and memecoins drive altcoins demand. Analysts say this trend marks a maturing market and greater diversification beyond Bitcoin. DeFi tokens and stablecoins also boost entry options. Despite a smaller share, Bitcoin remains the market’s anchor as infrastructure and institutional access improve.

The proposed EU chat monitoring bill would mandate platforms to scan private messages for prohibited content. Vitalik Buterin warns the EU chat monitoring bill undermines digital privacy, weakens end-to-end encryption and creates security backdoors. Critics highlight hypocrisy in government and military exemptions and potential violations of Articles 7 and 8 of the EU Charter on privacy and data protection. Backed by 15 member states, the bill now hinges on Germany’s decisive vote. Opponents say it risks fragmenting the EU digital market and accelerating adoption of decentralized Web3 platforms with native privacy features. Traders should watch EU chat monitoring bill developments closely, as rising privacy concerns may drive demand for privacy-focused tokens and decentralized messaging solutions.

Spot Ether ETFs recorded $795.8 million in net outflows over the past week, marking five consecutive days of redemptions. Friday alone saw $248.4 million of withdrawals, the largest weekly outflow since early September when Ether traded near $4,300. Ether’s price fell 10% to around $4,013, extending a 12% decline over 30 days. Negative net taker volume on Binance highlights weakening retail participation and mounting sell pressure. Crypto analyst BitBull labels the trend a capitulation. Investors are also eyeing potential SEC approval for staking within spot Ether ETFs. Grayscale reportedly plans to stake part of its ETH holdings. If approved, staking within Ether ETFs could introduce yield generation and reshape medium-term trading strategies.

As US SEC approval for Solana staking ETFs inches closer, multiple asset managers, including Franklin Templeton, Fidelity, CoinShares, Bitwise, Grayscale, VanEck and Canary Capital, have amended their S-1 filings to clarify Solana staking ETF structures in their spot SOL ETF applications. Fidelity plans to stake a portion of its SOL holdings to generate yield. ETF analyst Nate Geraci forecasts US SEC approval for several Solana staking ETFs within two weeks, likely by mid-October, marking a potential institutional milestone for SOL. The first U.S. Solana staking ETF, launched by REX Shares and Osprey on the Cboe BZX, logged $33 million in debut-day volume and $12 million in inflows, while Bitwise’s European SOL ETP attracted $60 million over five days. Hashdex and Grayscale have also expanded their multi-crypto ETFs to include SOL alongside BTC, ETH, ADA and XRP. Analysts note that staking provisions in Solana ETF filings signal positive regulatory sentiment for future spot ETH staking ETFs. Traders should watch SEC announcements as key catalysts for SOL price action; significant ETF inflows and steady accumulation by Solana treasury entities could drive SOL toward the $300 level.

TeraWulf plans to raise $3 billion in Google-backed high-yield debt to expand its data center services and meet surging AI demand. Morgan Stanley will structure the financing through bonds or leveraged loans, with credit rating agencies already evaluating the deal. Google has committed up to $3.2 billion and holds a 14% stake in TeraWulf, potentially securing favorable terms. A 10-year, $3.7 billion colocation agreement with Fluidstack and a similar $1.4 billion pact by Cipher Mining demonstrate the growing crypto mining and AI infrastructure synergy. TeraWulf’s strategy diversifies revenue beyond Bitcoin mining, but high leverage and execution risks may temper long-term market stability.

Bitwise Asset Management has filed an S-1 registration with the U.S. SEC for a spot Hyperliquid (HYPE) ETF. The fund would directly hold HYPE tokens under Coinbase Custody Trust Company, allowing both cash and in-kind creations and redemptions without leverage or derivatives. Key details—exchange listing, ticker symbol and fee structure—remain pending SEC review and a Form 19b-4 filing, as Hyperliquid lacks CFTC-registered futures. Hyperliquid is a Layer-1 blockchain powering a decentralized derivatives exchange. Its HYPE token underwrites platform fees, governance and incentives. Yet supply concerns loom: 237.8 million HYPE tokens vest monthly from November (approx. $500 million), while buybacks cover just 17% of the unlock. Former BitMEX CEO Arthur Hayes has sold his position. HYPE fell 1.5% on the filing day and 24% over the past week, trading near $42. Institutional interest is rising. VanEck has proposed a spot-staking HYPE ETF in the U.S. and a related ETP in Europe, offering regulated staking rewards. Regulatory hurdles persist: the SEC has delayed several altcoin ETF applications. Approval of a spot Hyperliquid ETF would mark a milestone for institutional access to the HYPE token and broader mainstream adoption.

Forward Industries has secured a $1.65 billion PIPE on Solana to launch a Solana-based digital asset treasury (DAT). Co-led by Multicoin Capital, Jump Crypto and Galaxy Financial, the round includes a $25 million personal investment from Multicoin co-founder Kyle Samani. Forward’s DAT strategy focuses on growing “SOL per share” through three pillars: staking SOL at around 8% yield (with 1.86% real yield from MEV), forging DeFi partnerships for yield boosts and engaging in yield arbitrage between on-chain finance and traditional markets. The company will deploy low-cost USD loans into Solana yield strategies targeting 15% returns and pursue M&A arbitrage to expand its on-chain SOL holdings. Forward prefers at-the-market issuance and perpetual preferred shares for financing, with all SOL acquired on secondary markets to avoid conflicts. The firm plans to tokenize equity, fundraising, dividends and governance on Solana. Kyle Samani will chair the board, with observers from Jump Crypto and Galaxy joining. Ultimately, Forward aims to build a 24/7 Solana capital market infrastructure capable of 10 billion daily transactions, reflecting growing institutional confidence in Solana.

XRP Tundra has launched a dual-token presale on Solana and the XRP Ledger. The project is offering TUNDRA-S at $2.50 and TUNDRA-X at $1.25, implying potential 25× returns for early buyers. A 40% token allocation is reserved for presale participants, with a 17% bonus on TUNDRA-S and free TUNDRA-X tokens valued at $0.0205. Staking is enabled via Cryo Vaults, allowing traders to lock XRP for 7–90 days and earn up to 30% APY without moving funds off-ledger. Frost Keys NFTs act as yield multipliers or reduce lockup periods. The presale and token contracts passed audits by Cyberscope, Solidproof, and Freshcoins, and the team completed KYC with Vital Block. By contrast, Cardano price forecasts vary, with Finder projecting ADA at $1.60 by 2026 and VanEck eyeing $6–8 by 2030. XRP Tundra’s fixed pricing, clear tokenomics, and audit-backed framework offer traders a transparent entry point. This update may reshape how early-stage crypto presales and staking opportunities are evaluated.

KuCoin has filed a federal court appeal against FINTRAC’s CAD19M enforcement notice. The crypto exchange disputes its designation as a Foreign MSB and argues the fine is excessive. FINTRAC had accused KuCoin of failing to report large transfers nearly 3,000 times from 2021 to 2024 and not flagging 33 suspicious transactions. CEO BC Wong stressed the company’s commitment to transparent operations, regulatory compliance, and user asset security. KuCoin says its services and compliance measures will remain unchanged while the case proceeds. This legal challenge marks another regulatory hurdle for KuCoin, highlighting cross-border enforcement risks in the crypto industry.