Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Steak ’n Shake recently suspended its Ethereum payments poll and reaffirmed its exclusive support for Bitcoin payments. After nearly 50,000 votes with 53% backing ETH, the fast-food chain closed the poll following backlash from Bitcoin supporters, stating “Our allegiance is with Bitcoiners.” The company has offered Bitcoin payments for in-store purchases and franchise fees since May across the US, France, Monaco and Spain, attributing a 10.7% Q2 same-store sales rise and a 15% Q3 sales increase partly to crypto users. Vitalik Buterin praised the focus on Bitcoin, while some Bitcoin maximalists threatened boycotts over ETH support. This decision underscores the influence of community sentiment on merchant crypto payment strategies and highlights Bitcoin’s growing real-world adoption.

Research by Duke University finance professor Campbell Harvey indicates a Bitcoin 51% attack could be executed in one week for around $6 billion. The estimate includes $4.6 billion in mining hardware, $1.34 billion for data-center build-out and $130 million in weekly electricity. A Bitcoin 51% attack would require controlling over 50% of the network hashrate, enabling an attacker to rewrite transactions, steal funds via double-spend attacks and threaten network security. Attackers could short nearly $70 billion in BTC futures to amplify profits, offset costs and potentially drive down prices. Past 51% attacks on Bitcoin Gold (BTG) and Ethereum Classic (ETC) each yielded over $1 million in theft, while Bitcoin (BTC) has remained secure for 16 years. Critics argue that building a $6 billion mining infrastructure would take years, require massive collateral and attract exchange safeguards. Still, the study highlights a serious proof-of-work vulnerability, prompting traders to monitor hashrate trends, derivatives positions and exchange risk controls.

Binance has reimbursed $283 million to users affected by the October 10 crypto market crash within 24 hours. The exchange attributed the extreme price swings and sharp liquidations—over $19 billion wiped out, including $16.6 billion in long positions—to a global sell-off, technical glitches and historical limit orders from 2019 triggering in low-liquidity periods. Assets such as USDE, BNSOL and WBETH de-pegged after 21:36 UTC, while some “zero price” trades resulted from display settings rather than actual zero-value transactions. Bitcoin plunged from $122,000 to $102,000 before recovering to $113,800, and Ethereum also fell amid the turbulence. Binance said its API remained stable and pledged system upgrades to prevent similar disruptions and maintain market integrity.

Salesforce has committed a $15 billion AI investment in San Francisco over five years. The AI investment aims to accelerate enterprise AI adoption, foster job creation, and support local economic growth. The plan includes funding a downtown on-campus AI incubator, backing businesses integrating the Agentforce 360 platform, and expanding community hiring and training programs. Announced ahead of Dreamforce―expected to draw 50 000 attendees and generate nearly $130 million in local revenue―this move aligns with multibillion-dollar AI spending trends by Nvidia, AMD, and Oracle. Despite a Q3 revenue shortfall, Salesforce is strengthening its AI portfolio and balance sheet with a $20 billion share buyback. Crypto traders should note the growing institutional AI commitments, which may drive demand for AI-focused blockchain projects and tokens.

Ethena Labs founder Guy Young blamed Binance’s internal pricing method for the USDe stablecoin’s brief depeg during last Friday’s market crash. Binance relied on its thin order-book oracle and limited liquidity, driving USDe from $1 to as low as $0.65 on the exchange. Elsewhere, USDe minting and redemption operated normally, with $2 billion redeemed across Curve, Fluid and Uniswap pools and price deviations within 30 bps. Analysts had warned that Binance’s Unified Account feature, which uses proprietary oracle data, was vulnerable. Crypto trader “ElonTrades” suggests attackers dumped about $90 million USDe on Binance while shorting BTC and ETH on Hyperliquid, earning roughly $192 million and triggering some $20 billion in liquidations. In response, Binance plans to adopt external oracle feeds by October 14 and has lifted deposit and withdrawal restrictions to allow arbitrage. The incident underscores the need for robust oracle design and deep liquidity in stablecoin markets.

Litecoin price saw a volatile swing in October. After rising to $124 on October 1 and holding above the $100 support since late September, LTC plunged from a resistance high of $136 to a low of $54 on October 10, breaking below its 21- and 50-day moving averages into oversold territory. Strong buying at $54 drove Litecoin back above $100, and the coin currently trades near $95. Immediate resistance levels stand at $100, $120, and $140, while support levels lie at $60, $40, and $20. A sustained break above $100 could resume the bullish trend and establish a range between $100 and $125. Conversely, failure to clear $100 may lead to retests of lower supports. Traders should watch the 4-hour chart for range-bound behavior between $90 and $105, using moving averages and resistance tests for breakout or breakdown signals. The current pullback and rebound present a short-term buying opportunity, while a decisive move beyond key resistance will determine the medium-term trend.

Stellar Lumens (XLM) price has surged from $0.33 to $0.41 over recent trading sessions, driven by a wave of institutional buying and strong volume. A three-minute rally saw 15 million tokens traded, highlighting renewed bullish momentum after October’s selloff. The token first rebounded from a $0.39 support floor before overcoming the $0.41 resistance. Technical analysts point to wave-4 support in Elliott Wave theory, suggesting a continuation pattern. Veteran trader Peter Brandt called the dip a temporary shakeout within an intact uptrend. Sustained volume and a clear breakout above current resistance will be key to confirming further upside. XLM price action and growing corporate demand for cross-border settlements underscore its potential as a payments asset.

Crypto.com has secured in-principle approval from the Central Bank of the UAE for a Dubai Stored Value Facility (SVF) license. This Crypto.com SVF license, valid for one year pending on-site technical and AML audits, will let UAE users pay government fees using any digital asset. Transactions will convert instantly into UAE dirhams or dirham-pegged stablecoins. The service builds on Crypto.com’s existing VARA-accredited wallet and partnerships with Emarat and Tawasal. COO Eric Anziani and ME&LA President Alain Yacine stressed responsible innovation and close regulatory collaboration. The final SVF license follows confirmation of compliance by the CBUAE’s Supervision, Market Conduct, and AML teams. This move highlights the UAE’s progressive regulatory framework and growing crypto adoption—25.3% of residents hold digital assets—boosting crypto utility and payment accessibility for traders.

Ethereum rebounded swiftly from a 20.7% intraday flash crash, reclaiming the $4,100 level within 48 hours and eyeing a $4,500 target. Ethereum’s derivatives indicators have normalized, with monthly futures premiums around 5% and perpetual futures funding rates recovering from –14%, while options open interest remains balanced, signaling eased stress among leveraged positions. Institutional demand stayed strong, backed by $23.5 billion in spot ETF holdings and $15.5 billion in options open interest. Binance compensated $283 million for cross-margin and oracle pricing errors, further relieving trader concerns. Traders should monitor futures–spot spreads and ongoing exchange reconciliations for signs of sustained market stability.

A Bitcoin whale, identified as former BitForex CEO Garrett Jin, controlling over 100,000 BTC, opened $1.1 billion in BTC futures shorts on Hyperliquid during a global Bitcoin sell-off, netting $80 million. Between August and September, the whale sold 35,000 BTC for $4.23 billion in ETH, then staked 570,000 ETH. The trades, linked to the ENS name garrettjin.eth and X handle @GarrettBullish, drove Hyperliquid volumes up 300% and triggered mass liquidations among copy traders. Analysts caution BTC funds may derive from multiple sources. In response, Hong Kong and Singapore regulators have tightened monitoring of large on-chain transfers and updated exchange risk controls. Jin still holds about 46,000 BTC. The Bitcoin whale’s actions underscore the market impact of whale positioning and raise questions about blockchain transparency and power concentration.

Ukrainian crypto trader Konstantin Galish was found dead in his Lamborghini in Kyiv on October 11 amid a $19 billion cryptocurrency market crash. Konstantin Galish, co-founder of Cryptology, reportedly suffered a significant crypto loss of $30 million in futures trading following steep declines after proposed US tariffs on China. Police recovered a firearm and opened a pre-trial inquiry under the Ukrainian Criminal Code, considering both suicide and homicide. His firm managed $65 million in funds—including $10 million held by Ukraine’s GUR—and messages to relatives revealed his depression over crypto loss. Authorities are also probing possible extortion or business disputes. The case highlights mental health risks and risk management challenges in volatile markets.

President Trump’s new directive allows crypto 401(k) investments in assets like Bitcoin, Ethereum, gold, silver, and real estate debt. Robert Kiyosaki praised the move as a chance to diversify portfolios beyond the traditional 60/40 stock-bond model and shield retirement savings from inflation. Kiyosaki said on social media that he will increase his holdings in Bitcoin (BTC), Ethereum (ETH), gold, silver, oil, and real estate. He aims to accumulate 100 BTC by the end of 2025 and projects Bitcoin could reach $1 million by 2035. By opening retirement plans to alternative assets, the crypto 401(k) directive could channel significant capital into digital currencies. Traders may see increased demand for Bitcoin and Ethereum as American workers diversify for long-term growth and inflation protection. This shift marks a milestone in retirement adoption of crypto. With portfolio diversification now including crypto 401(k) options, the long-term outlook for Bitcoin and Ethereum prices may grow more bullish, driven by steady institutional inflows.

Robert Kiyosaki, author of Rich Dad Poor Dad, warns that mounting sell-offs in stocks and cryptocurrencies signal an imminent market crash. Recent liquidations topped $19 billion, with Bitcoin briefly losing $20,000 and some altcoins plunging up to 90%. He cautions that Baby Boomers’ 401(k) savings could evaporate. To hedge risk, Kiyosaki recommends reallocating into real assets — Bitcoin, Ethereum, gold and silver — over conventional savings. His alert follows new US tariffs on China, which sparked the latest crypto sell-off. Traders should assess asset scarcity and industrial utility when adjusting portfolios. Bitcoin appears as a key safe-haven asset amid growing market volatility.

South Korea’s National Tax Service (NTS) has expanded its crypto tax crackdown to include cold wallets, deploying advanced blockchain analysis and specialized tracking software to search and seize offline storage devices. Over the past four years, the NTS confiscated and liquidated ₩146.1 billion ($108 million) from 14,140 taxpayers and, since 2021, recovered $50 million from 5,741 high-income debtors. Despite these efforts, an estimated $55 billion moved offshore in the first half of 2025. The number of Korean crypto investors has jumped from 1.2 million to 10.77 million in five years, with daily trading volumes averaging ₩6.4 trillion ($4.5 billion). Under the National Tax Collection Act, exchanges freeze suspicious accounts and transfer seized funds to the NTS, while home searches aim to uncover off-chain holdings. International cooperation spans 74 countries, excluding major markets such as the US, China and Russia. Similar cross-border probes include India’s action against 400 Binance traders. Traders should monitor these regulatory developments as the intensified crypto tax crackdown may tighten liquidity and alter trading patterns.

Satoshi’s Bitcoin stash of 1.1–1.5 million BTC is now worth over $100 billion and remains dormant on the public ledger. Potential triggers for any movement include personal financial needs, ideological motives, private-key recovery, legal demands or hacks. Any transfer would be fully visible on the blockchain and could spark panic selling, sharp price swings and network congestion. Historical precedents, like the 2014 Mt. Gox distributions, show how large releases can crash prices and dent confidence in Bitcoin’s store-of-value narrative. Conversely, a gradual and transparent release might reinforce faith in decentralization and stabilize markets. Broader impacts could include wealth redistribution, fee spikes, calls for protocol changes and new regulatory measures. Traders should prepare for high volatility, monitor on-chain signals closely and adjust risk strategies accordingly.

Ripple’s legal team, led by CLO Stuart Alderoty and Europe MD Cassie Craddock, met Luxembourg Finance Minister Gilles Roth to pursue a MiCA license under the EU’s Markets in Crypto-Assets framework. Luxembourg, vying for digital finance leadership, has streamlined its e-money licensing process and offers robust infrastructure, including Clearstream Banking Luxembourg. Ripple already has a local presence and aims to register as an e-money institution to legally provide payment and liquidity solutions across the European Economic Area. Securing this MiCA license would give XRP regulatory clarity, boosting its appeal for cross-border settlements among banks and financial institutions. Minister Roth affirmed institutional support, highlighting Luxembourg’s proactive regulatory stance and setting a potential model for other EU states. Traders should monitor the license’s progress, as approval could significantly enhance XRP’s liquidity, institutional adoption, and compliance in regulated EU markets.

Ethereum price has slipped below $4,000, losing the midline of its ascending channel and dipping under the 100‐day moving average near $3,800. The drop also breached the 50% Fibonacci retracement zone at $3,400–$3,500. A brief bounce reached $3,800, but the daily RSI remains below 40, signaling weak momentum. On the 4-hour chart, ETH found support around $3,400 with an RSI in oversold territory near 24. Resistance at $3,800 holds firm. A clear break above $4,200 is needed to turn Ethereum price momentum bullish; otherwise, ETH faces renewed pressure. On-chain data show the Exchange Supply Ratio at multi-year lows and funding rates turning negative for the first time since late 2024. This reflects enforced liquidations and trader fear. Historically, such deep pullbacks can clear excess leverage and lead to short-term recoveries once selling subsides. Failure to reclaim key support at $4,000 risks a deeper slide toward $3,000, potentially threatening the broader bull market. Traders should watch volume, funding rates and RSI signals for potential reversal or accelerating breakdown.

In the crypto market, President Trump’s announcement of 100% tariffs on Chinese imports sent the Fear & Greed Index crashing from 64 to 27 within 24 hours. The tariff shock triggered over $19.33 billion in liquidations and erased nearly $1 trillion in market value in a three-hour cascade. Bitcoin plunged from $122,000 to $102,000 before rebounding, while Ethereum slid from $4,783 to $3,400. Long positions suffered $16.83 billion in losses, led by Bitcoin ($5.38 billion) and Ethereum ($4.43 billion). Major platforms recorded a $203 million ETH-USDT hyper-liquidation. Sentiment indicators surged to contrarian levels: Bitwise’s intraday crypto sentiment index hit –2.8 standard deviations, and Santiment noted muted social media interest around Bitcoin’s $125,100 all-time high. This event—20 times larger than the March 2020 COVID crash and eclipsing the 2022 FTX crisis—highlights the cryptocurrency market’s sensitivity to geopolitical risks. Immediate support sits at $110,000 for Bitcoin and $3,600 for Ethereum, with resistance at $113,500 and $4,000 respectively. Consolidation is likely until tariff policy clarity and institutional leverage risks ease.

The PENGUINA presale has raised $222,000 in days, reaching 45% of its $500,000 target in Stage 1 at $0.01 per token. Stage 2 token prices increase to $0.015. The project plans to list at $0.08, a potential 700% launch gain for early backers. The PENGUINA presale accepts ETH, USDT and BNB with a $10 minimum. The token’s smart contract is audited by SOLIDPROOF. Traders forecast gains up to 1,259,000% after launch. The rapid capital inflow highlights strong demand for high-upside meme coins. In the short term, speculators may drive volatility around the listing. Long-term performance will depend on market conditions and community support. Investors should secure allocations before the presale closes.

Bahrain’s Central Bank–licensed Sharia Supervisory Board has officially approved Ripple’s XRP as Shariah-compliant, confirming in its “Sharia Analysis – Ripple” report that both the payment framework and XRP token meet Islamic finance principles including ethical standards and interest-free requirements. This landmark certification allows Islamic banks and fintech in Bahrain, and potentially across the Middle East, North Africa and Southeast Asia, to integrate XRP into sukuk, tokenized assets and cross-border payment systems. By clearing a key regulatory hurdle, Ripple can now partner with Sharia-certified institutions, potentially boosting XRP adoption, liquidity, transaction volumes and institutional confidence in Sunni-majority and broader global markets.

Spot Bitcoin ETFs attracted $2.71 billion in inflows last week, lifting assets under management (AUM) to $158.96 billion—about 7% of Bitcoin’s market cap. Inflows were front-loaded on Monday ($1.21 billion) and Tuesday ($875.6 million), with a brief $4.5 million outflow on Friday after U.S.–China tariff comments. BlackRock’s IBIT led with a $74.2 million net inflow, while Fidelity’s FBTC and Grayscale’s GBTC saw outflows of $10.18 million and $19.21 million respectively. Over the past two months, the SEC has received 31 crypto ETF applications, including 21 in the first eight days of October—underscoring “Uptober” momentum. Sustained ETF inflows may bolster spot Bitcoin demand, improve market liquidity, and support price discovery. Traders should monitor pending SEC approvals and inflow trends as key drivers of near- and medium-term market momentum.

A consortium of major banks including Bank of America, Goldman Sachs, Deutsche Bank, Citigroup, Santander, BNP Paribas, MUFG, TD and UBS has launched a project to explore issuing a 1:1 reserve-backed stablecoin pegged to the seven G7 currencies (USD, EUR, JPY, GBP, CAD, CHF and AUD) on public blockchains. The banks aim to combine fiat stability with the benefits of digital assets under full regulatory compliance and robust risk management. They are already in talks with regulators in both the US and Europe, buoyed by the GENIUS Act which clarifies stablecoin rules and may accelerate G7 pegged stablecoin issuance. Although no timeline has been set, the initiative could intensify competition with existing stablecoins like Tether’s USDT. Analysts warn that banks risk losing deposits to higher-yield stablecoins, potentially boosting interest-bearing digital assets. The move underscores growing institutional interest in stablecoin innovation and could reshape market competition, regulatory frameworks and trading dynamics.

Senate Democrats have introduced a DeFi regulation bill in the Senate Banking Committee that targets front-end developers as financial intermediaries and imposes broad KYC requirements across all decentralized finance protocols. The proposal grants the Treasury Department authority to define when a party ‘exercises control’ over a network and set ‘sufficient decentralization’ standards. Critics, including the Blockchain Association’s Summer Mersinger and Variant Fund’s Jake Chervinsky, warn that this DeFi regulation amounts to a virtual crypto ban and could drive developers out of the US. Republicans dismiss the draft as incoherent and refuse to negotiate. The partisan stalemate leaves US blockchain competitiveness and market stability in doubt.

In Q2, gold’s share of central bank reserves climbed to 24%, the highest level since the 1990s. Official demand doubled the 2011–2021 average, pushing gold prices above their inflation-adjusted 1980 peak. Deutsche Bank analysts note growing parallels between gold and Bitcoin as low-correlation, safe-haven assets. Bitcoin volatility has eased to historic lows, attracting institutional interest despite challenges such as limited use cases, security risks, and liquidity constraints. Deutsche Bank forecasts that both gold and Bitcoin could appear on central bank balance sheets by 2030, underscoring a shift toward traditional and digital reserve assets. Traders may combine gold and Bitcoin for enhanced portfolio diversification amid these evolving reserve trends.

Zcash (ZEC) spearheaded a privacy coins rally, jumping over 350% to $268 in two weeks after high-profile endorsements and rising on-chain privacy usage. Shielded ZEC transactions climbed 15.5% in September, while Grayscale’s Zcash Trust amassed $46 million in assets under management. Other privacy coins also rallied: Railgun (RAIL) surged over 310%, Dash (DASH) rallied 40% in 24 hours, Firo (FIRO) doubled to a multi-year high above $1.65, and Monero (XMR) alongside Tornado Cash (TORN) posted strong gains. This privacy coins rally underscores growing trader interest in untraceable transactions and signals fresh altcoin trading opportunities.

Ethereum Foundation has launched the Privacy Cluster, uniting 47 cryptographers, engineers and researchers. The initiative aims to develop full-stack on-chain privacy tools, including private reads and writes for confidential payments and votes. It also supports private proving for selective eligibility checks and private identities based on zkID for selective disclosure. A core project, Kohaku, is an open-source privacy wallet and SDK offering cryptographic safeguards. An Institutional Privacy Task Force will guide enterprise integration and compliance standards. The roadmap commits to ongoing protocol and UX innovations. By coordinating privacy research and tools, the Ethereum Privacy Cluster seeks to protect user data on chain, unlock new DeFi use cases and bolster long-term platform credibility. These upgrades are expected to drive wider Ethereum adoption and strengthen market trust.

Ripple has partnered with Bahrain FinTech Bay to integrate blockchain and stablecoin infrastructure into Bahrain’s regulated financial sector. Under the Central Bank of Bahrain’s new stablecoin licensing framework, Ripple will pilot cross-border payments, tokenization initiatives and enterprise RLUSD stablecoin rollouts. The collaboration enables Ripple to offer its digital asset custody services and its US dollar–pegged RLUSD stablecoin to local banks and payment providers. This deal builds on Ripple’s DFSA license in Dubai and aims to boost liquidity, drive blockchain-based payment adoption, and support blockchain education and talent development across the Middle East.

Major global banks, including Goldman Sachs, Bank of America and Citigroup, have formed a consortium to issue a 1:1 reserve-backed stablecoin on public blockchains. This new reserve-backed stablecoin will be fully collateralized by G7 fiat reserves and aim to cut transaction costs, speed up settlements and simplify cross-border transfers for institutional and retail clients. Technical specifications, governance models and regulatory frameworks are under review, with detailed standards expected later this year. By leveraging existing banking infrastructure, the banks seek regulatory certainty and compliance to challenge non-bank stablecoins and accelerate mainstream blockchain payments adoption. Traders should watch for the stablecoin’s specifications and launch timeline, as the initiative could boost trading volumes and market liquidity.

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