Crypto News

Zcash’s NU7 upgrade is targeting a proposed mainnet activation at block 3,543,405, around 5 November, but the date is not final. Developer Sean Bowe’s proposal had support from two developers but had not yet been merged into the deployment specification. Software releases, syncing fixes and node-operator preparations remain important steps; NU7 is also running on testnet. The Zcash NU7 upgrade would reduce block spacing from 75 seconds to 25 seconds, potentially cutting the time for three confirmations from nearly four minutes to about 75 seconds. It would also retire the legacy Sprout privacy system, so users need to move Sprout-held funds before activation or risk being unable to spend them. Under the Network Sustainability Mechanism, 60% of block fees would be withheld temporarily until February 2031, while the existing halving schedule remains unchanged. Traders should monitor the final activation specification, software and node upgrades, and mainnet block-time stability. Faster confirmations may improve ZEC’s payment and exchange-deposit usability, but the upgrade is primarily a technical and compatibility change, not a redesign of Zcash’s privacy architecture, and does not guarantee a price rise.

Standard Chartered has signed a definitive agreement to acquire 100% of crypto custodian Zodia Custody, expanding the bank’s institutional digital asset custody business. Zodia shareholders approved the offer in May, but the deal still requires regulatory approval and completion of customary closing conditions; no price or completion date has been disclosed. Zodia’s regulated custody operations are expected to join Standard Chartered’s Securities Services business. Its software and professional-services operations will be separated into Zodia Solutions under SC Ventures, with participation from existing institutional backers. The bank says custody clients should face no disruption during the transition. Zodia says the integration will combine its institutional expertise with Standard Chartered’s global banking network. The acquisition builds on Standard Chartered’s crypto custody services in the UAE, Luxembourg and Hong Kong, its planned institutional service in Singapore, and a London trading desk for bitcoin and other cryptocurrencies established in 2025. The deal reflects growing interest in regulated digital asset custody among major banks, including State Street, U.S. Bank and Citigroup. It may improve institutional access to crypto infrastructure, but it does not announce a token launch or directly signal a change in cryptocurrency prices.

Wallets linked to the April 1 Drift Protocol exploit deposited 44,510 ETH, worth about $109 million, into Tornado Cash on October 20–21, according to blockchain trackers. The transfers included about 25,710 ETH on Tuesday and 18,800 ETH on Wednesday. Afterward, Arkham-labeled wallets still held approximately 56,569 ETH, valued at $138 million. The attack on the Solana-based decentralized exchange caused losses of about $295.7 million and ranks among this year’s largest crypto exploits. Drift said Mandiant attributed the attack to North Korean threat group UNC6862. Tornado Cash can make funds harder to trace, but the transfers do not establish that the ETH has been sold or recovered. Drift opened claims and redemptions for its DFX recovery token on October 1. The pool began with about 3.1 million USDT, with partner commitments and future protocol revenue intended to support further compensation. The latest ETH movement renews attention on the stolen assets and the prospects for victim repayment, while leaving a substantial potential selling overhang.

US spot Ether ETF outflows rose from about $955 million earlier in October to $1.08 billion, the largest monthly total of 2026 so far, according to SoSoValue. The withdrawals followed $320 million in weekly outflows and erased September’s $832 million of inflows. Ether ETFs recorded $26 million in net inflows on Tuesday, while year-to-date inflows stood at about $485 million with eight trading sessions left in the month. Ether ETF outflows have coincided with ETH falling 9.7% in October to about $2,438 and nearly 18% in 2026. US spot Bitcoin ETFs lost $229 million in the earlier week, but later attracted $527 million on Monday and $23 million on Tuesday. Bitcoin ETFs were still down about $67 million for October, but their year-to-date net inflows had reached roughly $809 million. BTC traded near $82,954, down 2.2% since the start of October. Solana, Zcash and Hyperliquid funds also recorded weekly outflows.

The Blockchain Association has asked the US Treasury to clarify how the GENIUS Act will apply to digital asset service providers, foreign-issued stablecoins and yield arrangements. In a November 4, 2025 letter, it urged Treasury to keep definitions narrow and tied to the statute, distinguishing customer-facing financial businesses from self-custody software and validators. It also said liability for knowingly facilitating unlawful stablecoin issuance should require actual knowledge and meaningful assistance, and that foreign-stablecoin obligations should rely on information platforms can reasonably access. The Association called for clearer compliance paths for smaller issuers and new entrants. The GENIUS Act sets two timelines for foreign stablecoins: conditions on platforms offering or selling foreign-issued payment stablecoins apply from the Act’s effective date, while a broader restriction on stablecoins from non-permitted issuers is scheduled for July 18, 2028. The effective date could come sooner than 18 months after enactment if primary federal regulators issue final rules, with the Act taking effect 120 days later. The rules could affect a stablecoin market valued at about $301.5 billion on October 20, 2026; USDT represented roughly 60.7%, according to DefiLlama. These are industry recommendations, not adopted rules. Treasury and other agencies’ decisions could shape platform compliance, DeFi infrastructure and access to foreign stablecoins, leaving uncertainty for traders and settlement markets.

Visa and Mesh have partnered to let users of participating wallet apps spend eligible cryptocurrency and stablecoin balances at merchants that accept Visa. Mesh will connect wallet balances to payments and manage conversion to fiat, while Visa provides access to a network of more than 175 million merchant locations across over 200 countries and territories. The service is intended for online and in-person purchases, without requiring users to cash out or manually convert tokens for each transaction. Merchants would continue using existing payment infrastructure and would not need to accept crypto directly. The companies have not announced participating wallets, supported devices or a rollout schedule, so the partnership does not make crypto payments available across Visa’s network immediately. The integration could expand everyday crypto payments, but adoption will depend on market availability and a seamless customer experience.

Mastercard has launched Stablecoin Security, an API-based service that helps financial institutions screen stablecoin payments for fraud, scams, sanctions exposure and other financial-crime risks before transactions are completed. Its platform-agnostic tools analyze payment context, fund origins, restricted-party links and scam indicators, then provide risk scores for use in existing compliance and fraud workflows. Mastercard has not disclosed how it weights these signals or what risk thresholds institutions should apply. The service is initially planned for North America, with Borderless.xyz and Keyrails as partners; worldwide commercial availability is expected in 2027. Mastercard cited a 2025 Bank for International Settlements sample covering more than 593 million stablecoin transfer events across 141 million Ethereum transactions. Nearly 60% of the events took place within complex, multi-step transactions—a measure of transaction complexity, not fraud. Stablecoin Security aims to give institutions earlier visibility into on-chain risks and support broader adoption of stablecoin payments. The launch is unlikely to have an immediate effect on crypto prices, but could help strengthen institutional confidence over time.

A suspected operator of a task scam lost more than 60 BTC, worth about $4.8 million, after the funds were stolen from Ledger hardware wallets. Chainalysis said the Bitcoin was moved to three Ledger addresses on 22 September and drained to one wallet on 9 October. The funds reportedly came from a fake job scheme that tricked victims into paying deposits to cover a supposed negative balance. The theft is linked to reports of tampered Ledger devices sold through third-party channels, including Malaysian reseller CryptoBilis. Ledger said implants in affected devices could capture recovery phrases; the investigation did not establish that the company’s own manufacturing systems were compromised. Ledger has not disclosed confirmed losses from the wider incident, while investigator Specter estimated that about $86 million had been drained. The case highlights hardware-wallet supply-chain risks and the importance of device provenance, but it points to no flaw in Bitcoin itself and is unlikely to affect BTC’s fundamentals.

Russia plans to end direct P2P crypto trading between individuals from July 1, 2027. Until June 30, 2027, people may continue trading directly; afterward, most buying and selling must go through licensed brokers or registered exchange operators. The policy is part of a regulated crypto-market framework that took effect on September 1, 2026, and is expected to shift activity towards approved intermediaries.

Mastercard and BVNK have launched the Global Money Platform, an API-based service that lets banks, fintech firms and businesses manage fiat currencies and stablecoins through one system. Announced on October 15, it brings together multicurrency accounts, conversion, payments, cards and treasury tools, linking digital-asset balances with bank transfers and merchant payments. The platform supports USDC and OUSD and connects infrastructure across more than 20 blockchain networks and payment rails. Through Mastercard Move, it reaches a network with more than 17 billion payment endpoints. Mastercard expects local-currency payouts in more than 40 currencies across over 200 countries and territories in 2027. Stablecoin-linked cards can be issued in more than 130 countries and used across Mastercard’s merchant network. Initial integration partners include Nuvei, Marqeta, Ontop, Beem and Almond FinTech. The launch follows Mastercard’s August 3 completion of its BVNK acquisition, valued at up to $1.8 billion. Mastercard says tokenized deposits and payments initiated by AI agents could be added in future; it did not disclose partner launch dates or expected transaction volumes. The Global Money Platform expands stablecoin payment options, but the announcement provides no immediate measure of usage or demand for either supported stablecoin.

Ledger has asked resellers in Indonesia, Malaysia, Singapore, Thailand, Vietnam, the Philippines and Hong Kong to pause hardware wallet sales while it investigates devices with hidden implants. Ledger says confirmed cases involve devices sold by Southeast Asian reseller CryptoBilis; it has found no evidence of a wider breach, or of compromise to its systems or direct sales channel. The implant can capture a 24-word recovery phrase during setup and send it over LTE. Onchain investigator Specter has linked more than $86 million in suspected thefts to the cases, but Ledger has not verified the total. The company advises CryptoBilis customers not to initialize unused devices and to transfer funds from potentially affected wallets to a new wallet with a fresh recovery phrase. In a later development, German retailer MediaMarkt Saturn also paused Ledger sales after a customer reported an implanted device; no funds were lost. Trezor plans to end reseller authorizations from January 1, 2027, as a precaution, while saying it has no evidence its devices were compromised. The Ledger hardware wallet investigation adds pressure on manufacturers to improve reseller oversight and supply-chain security, but no broader compromise has been established.

Strive’s latest Bitcoin purchase adds to a series of corporate treasury buys. For the week ending October 9, the company bought 3,311 BTC for about $280 million, lifting its holdings to 32,773 BTC and making it the fifth-largest Bitcoin holder among US-listed companies. The purchase was partly funded by $208 million from exercised warrants, and Strive said its Bitcoin holdings grew faster than its effective common shares, increasing Bitcoin exposure per share. In a later update, Strive reported buying another 2,822 BTC for $235 million, bringing its holdings to about 35,600 BTC. It also said 13.7 million of 15.3 million remaining warrants had been exercised, raising $369 million. Traditional warrant exercises reached 94%, with a reported leverage ratio of 47%. The additional Bitcoin buying signals continued corporate demand, while warrant proceeds give Strive more funding capacity. The effect on BTC prices is likely limited relative to larger holders and will depend partly on whether the company continues accumulating.

Bitcoin rebounded from a low near $80,953 to about $83,592, recovering more than 2% and moving back above the $81,848–$82,306 Fibonacci zone. The bounce is a modestly positive signal, but Bitcoin has yet to clear resistance around $84,000–$84,500, where sell orders have been concentrated. A daily close above $84,246 could bring $86,644 and roughly $87,423 into focus; a drop below $81,603 may expose support near $80,000, followed by $77,500 if that level fails. Indicators are mixed: the RSI is slightly positive at 53.4, while the ADX has fallen to 29.9 from 42.8 on 7 October, suggesting the uptrend has lost strength. The 50-day EMA remains above the 200-day EMA. Market sentiment is neutral, with the Fear and Greed Index near 55. Prediction-market traders assign a 54% chance of Bitcoin reaching $80,000 this month and a 45% chance of reaching $87,500. Bitcoin ETF outflows remain a headwind. The reports give different October-to-date estimates—about $451 million in the earlier account and $386.3 million in the later one—alongside weak institutional demand. The earlier report also noted pressure from a sharp decline in South Korean technology shares. Traders are now watching US CPI, expected to show annual inflation rising to 3.6% from 3.4%, as well as Treasury yields and geopolitical developments. Strong inflation or continued outflows could weigh on Bitcoin, while softer data and a break above resistance may support further recovery.

Pando Finance plans to list a spot Solana ETF on the Hong Kong Stock Exchange on October 13, adding a regulated route for investors to gain SOL exposure. The ETF will hold SOL directly and track a regional version of the CME CF Solana-Dollar Reference Rate. It will charge a 0.60% annual management fee, with estimated ongoing expenses of 1.60%. Shares will trade in Hong Kong dollars, with a minimum lot of 100. The fund will not stake SOL, use derivatives or leverage, or pay dividends; it may hold up to 3% of net assets in cash. HashKey Exchange will handle transactions and HashKey Custody Services will safeguard the assets. Its documents warn of significant volatility and the possibility of losing the entire investment. The launch comes as US Solana ETFs recorded $24.8 million in net outflows in the week ending October 9, their largest weekly withdrawals since launch and the end of 14 consecutive weeks of inflows. Bitwise’s BSOL accounted for about $20.9 million of the outflows, while Grayscale and Fidelity products also saw withdrawals; Morgan Stanley’s product had modest inflows. Bitcoin and Ethereum ETFs also recorded substantial weekly outflows. The Hong Kong Solana ETF expands regulated access, but the recent US data suggests softer near-term institutional demand for SOL and does not guarantee fresh buying pressure.

Former Celsius CEO Alex Mashinsky has agreed to a lifetime ban from the cryptocurrency, securities and commodities industries in a settlement with New York Attorney General Letitia James. The deal resolves a 2023 civil fraud lawsuit alleging that Mashinsky misled investors about Celsius’s risks and safety. The settlement could require up to $35 million in payments, depending on whether he forfeits an additional $10 million to the federal government and serves his full sentence. Mashinsky is serving 12 years after pleading guilty to securities and commodities fraud, and was ordered to forfeit more than $48 million in his federal criminal case. New York alleged that Celsius presented itself as a safe place to deposit crypto while putting customer assets into risky investments and concealing losses. The state said the conduct affected hundreds of thousands of investors, including more than 26,000 New Yorkers. Celsius halted withdrawals in June 2022 and filed for bankruptcy the following month; more than $3.4 billion had been distributed to creditors by August 2026, according to the state. The settlement adds to separate federal restrictions, including a CFTC trading ban and an FTC settlement. Mashinsky is challenging his federal conviction, while the SEC has reached an agreement in principle in its civil case. The Celsius case highlights continuing legal and investor-protection risks for crypto lenders that make misleading claims about safety, returns or reserves.

Two firms linked to crypto market maker DWF Labs are suing custodian BitGo for $141 million in London’s High Court. DWF Maas and Falcon Digital allege BitGo breached an over-the-counter agreement by transferring Falcon Finance (FF) and ESPORTS tokens to exchanges about two months before their lock-up periods ended. They say BitGo received the tokens at a discount in return for holding them, and that early sales into a thin market depressed prices and reduced the value of their remaining holdings. The firms reportedly raised the issue in April and May before filing suit. The earlier account also cited price declines: FF fell from about $0.08 in early March to $0.07 by late April, while ESPORTS dropped from about $0.28 in mid-March to $0.07 by early June. BitGo declined to comment, and the allegations have not been tested in court. Both parties have links to World Liberty Financial: DWF bought $25 million of its WLFI token, while BitGo holds reserves backing its USD1 stablecoin. The case highlights crypto custody, counterparty and token-liquidity risks; its wider market impact will depend on the court proceedings and evidence of any broader selling.

The NFL has backed New Jersey’s request for the US Supreme Court to review whether states can regulate sports contracts on prediction markets such as Kalshi. The league argues the contracts are not swaps under the Dodd-Frank Act and should not fall exclusively under Commodity Futures Trading Commission (CFTC) oversight. It says state rules are important for consumer protection and game integrity. The case follows an April ruling by the Third Circuit in Kalshi’s favor, while the Sixth and Ninth Circuits have reached opposing conclusions. The Supreme Court has not said whether it will hear the case. Kalshi’s response is due November 9, 2026. The NFL says $1.8 billion of the $3.3 billion traded on prediction markets during the first Sunday of the 2026 season involved NFL games. It has raised concerns about age limits, sensitive information, injuries, officiating and markets that participants could manipulate. Kalshi says it works with leagues and integrity partners, and that federal oversight can address such risks. Former CFTC Chairman Gary Gensler and former Senator Chris Dodd also opposed shifting sports-betting oversight away from states. The dispute could affect prediction-market access and rules across US states, but the petition does not itself impose new restrictions. A Supreme Court decision could clarify the boundary between federal derivatives oversight and state gaming laws. It has no direct effect on cryptocurrency prices or trading rules.

ESMA has asked national regulators to ensure MiCA-authorised crypto firms end services for stablecoins that do not meet EU rules. Following ESMA’s October 8 opinion, firms have up to three months—until January 8, 2027—to resolve customer positions. The guidance expands scrutiny to custody and transfers, alongside trading, advice and order execution; investor warnings alone are not enough, and firms should block new purchases. During the supervised exit, providers may offer limited help to sell, convert, withdraw, transfer or safeguard existing balances, but cannot enable customers to buy more or increase exposure. The rules govern regulated providers, not personal ownership or every public-blockchain transfer. USDT is a prominent example, though compliance depends on the token and issuer, not simply its currency peg. Binance delisted nine non-MiCA stablecoins, including USDT, for European users in March 2025. Platforms may set different procedures, fees and deadlines. Traders should check exchange notices, supported networks, conversion rates, open orders and collateral treatment. Reduced access to USDT pairs could affect liquidity and spreads on EU venues, although the reports give no estimate of affected balances. MiCA stablecoin compliance and the pace of firms’ exits will remain key points to watch.

Ripple Prime is expanding into leveraged ETF financing, a business traditionally dominated by banks. After acquiring Hidden Road for $1.25 billion, Ripple began offering prime brokerage, clearing and financing services to investment firms; on October 6, it announced services for hedge fund Brevan Howard. The report also says Ripple Prime is providing total-return-swap financing to leveraged ETF issuers, though its client volume and revenue have not been disclosed. Morningstar Direct data cited in the report counts 593 U.S. leveraged ETFs with more than $256 billion in combined assets. That is the sector’s total, not Ripple Prime’s financing volume. Swaps provide amplified daily exposure to stocks or indexes in return for financing charges. One Tradr ETF had a variable financing rate of about 8% annualized on October 7, but that example is not a disclosed rate for Ripple Prime clients. Financing can generate fees while exposing providers to hedging, market and counterparty risks, particularly during sharp declines. The expansion diversifies Ripple Prime’s institutional finance business beyond crypto and may benefit from tighter bank capital constraints. However, the report does not establish that XRP or RLUSD is used in these transactions, and Ripple Prime’s scale and revenue remain unknown. The direct implications for XRP and broader crypto trading appear limited for now.

On October 8, a US government wallet linked to the 2016 Bitfinex hack transferred 12,267.02 BTC, worth about $1.01 billion, to a newly created address. Arkham later marked the funds as spent, indicating another movement, but the Bitcoin has not been confirmed as sent to an exchange or sold. The US government Bitcoin transfer has raised questions about potential selling pressure, although it may be routine custody management. A separate movement the previous day saw wallets linked to Bitfinex and FTX send about 3,200 BTC and $119 million in USDT to Coinbase Prime; public data does not establish a link to the government transfer. A 2025 executive order directs the government to retain forfeited Bitcoin in a Strategic Bitcoin Reserve. More than 94,000 BTC linked to the hack are reportedly under government control, while Arkham estimates total US government holdings at about 306,795 BTC, worth roughly $24.85 billion at a BTC price of $81,000. For traders, the transfers warrant monitoring, but there is no confirmed sale indicating immediate supply pressure.

Robinhood has added $25 million in Bitcoin (BTC) to its corporate balance sheet, marking its first proprietary BTC holding separate from customer assets. Crypto executive Johann Kerbrat said the purchase signals the company’s commitment to Bitcoin and the wider crypto ecosystem. The allocation is small relative to Robinhood’s roughly $100 billion market value, and the company has not announced regular Bitcoin purchases. The purchase comes as Robinhood expands its crypto services. It plans to offer perpetual futures on BTC, ETH, SOL, XRP, DOGE, ADA, LINK and HYPE to eligible US users in the coming months. Its Arbitrum-based Robinhood Chain has reported more than $1.05 billion in total value locked, and the company is developing 24-hour trading for tokenized US stocks. Kerbrat also said tokenized stock trading could approach limits under the SEC’s innovation exemption framework; the US regulatory outlook for crypto perpetual futures remains uncertain. For Bitcoin traders, the treasury purchase is mainly a symbolic signal, while Robinhood’s broader plans could support access to crypto markets if regulation allows them to proceed.

Ethereum co-founder Vitalik Buterin warns that AI-accelerated mathematical research could weaken lattice cryptography, potentially within two years. The concern applies to systems such as ML-DSA and technologies used in fully homomorphic encryption, and he has also flagged possible risks to ECDSA. While lattice cryptography is considered resistant to quantum attacks and has been explored by projects including Cardano, the warning highlights that AI-driven breakthroughs could create separate risks. No cryptographic break has been demonstrated, and two years is not a confirmed deadline. The discussion follows Ethereum Foundation researcher Justin Drake’s call for “bunker mode,” including moving funds to addresses with unexposed public keys. Buterin cautions against rushed, large-scale fund migrations. He recommends larger parameters for lattice-based systems, avoiding storage of encrypted data directly on-chain, rotating multisig keys after use and collecting signatures off-chain where possible. For Ethereum’s long-term security roadmap, he has pointed to hash-based signatures such as WOTS and SPHINCS+, while acknowledging no method is theoretically risk-free. The warnings raise long-term security and upgrade questions, but do not by themselves signal an immediate market catalyst.

Europol has urged the crypto industry to prepare for quantum computing threats, while stressing that no known quantum computer can currently break cryptocurrency wallets and the timing of a practical threat remains uncertain. Its reports, published on October 7, identify exposed wallet public keys as the main risk: a sufficiently powerful quantum computer could derive the corresponding private keys and steal funds. Blockchain hash functions are considered more resistant, and Europol said there is no clear evidence of large-scale collection of encrypted data for future decryption, though long-lived sensitive information could still be targeted. Europol recommends that wallet providers test post-quantum cryptography, blockchain projects plan protocol upgrades, and the industry improve key management. Users may need to move funds to quantum-resistant wallets when available; for wallets whose public keys are already exposed, moving funds to a new wallet with an unexposed key is the proposed safeguard. The transition will require coordination among developers, platforms, custodians and users, and could take years. NIST finalized three post-quantum standards in 2024 and recommends beginning the transition, with vulnerable algorithms scheduled to be phased out by 2035 and higher-risk systems moving sooner. Bitcoin faces particular migration challenges. A cited study estimates that migrating all Bitcoin UTXOs could require at least 76 days of cumulative network downtime, or about 300 days if a quarter of block capacity were allocated to the process. Post-quantum signatures could be 10 to 120 times larger than current ECDSA signatures, potentially increasing congestion and transaction fees. Bitcoin developers are debating migration proposals, including draft BIP-361, while other blockchain projects and custodians test quantum-resistant controls. Europol’s message is to prepare for a long-term risk—not to expect an imminent crypto collapse.

The Solana Foundation has introduced Solana DvP, an open-source framework for atomic delivery-versus-payment (DvP) settlement of tokenized trades. In a single transaction, the asset and payment either transfer together or neither does, potentially replacing the one-to-two-day settlement period common in traditional markets with on-chain settlement in seconds. Buyers and sellers place their tokens in escrow, and a designated bank, custodian or exchange can release both sides at once. Trades can be cancelled before a deadline, with deposits returned if settlement fails. Solana DvP supports Solana token standards, including Token-2022 controls such as pausable tokens and transfer hooks for compliance checks. The program has undergone external security audits; the foundation is seeking design partners ahead of a production release and plans to add privacy features. JPMorgan contributed feedback on institutional settlement requirements, but does not design, operate or endorse Solana DvP. The framework aims to give institutions a shared alternative to custom-built contracts, potentially reducing development and review costs as well as counterparty and capital-lockup risks. Its context includes a Galaxy Digital commercial-paper settlement on Solana using USDC, alongside other tokenized-asset transactions involving JPMorgan. Wider adoption by issuers, custodians and trading venues remains the key test for Solana DvP and its potential significance for SOL.

US spot SOL ETFs recorded net outflows on both 6 and 7 October, with withdrawals increasing from $3.6849 million to $4.8 million, according to SoSoValue. On 6 October, Grayscale Solana Trust (GSOL) saw $3.7455 million in outflows, partly offset by a $60,500 inflow into Invesco Galaxy Solana ETF (QSOL). On 7 October, Bitwise Solana Staking ETF (BSOL) accounted for the entire $4.8 million outflow. Despite the two-day selling, cumulative net inflows across US spot SOL ETFs remained around $1.59 billion; BSOL’s cumulative inflows stood at $1.208 billion. Total ETF net assets fell from $1.934 billion on 6 October to $1.854 billion on 7 October, representing 2.71% of SOL’s net assets on the latter date. The consecutive outflows suggest near-term caution, while the strong cumulative inflows indicate longer-term demand remains positive.

Coinbase has completed its integration of Deribit and launched Coinbase Global Exchange, giving eligible US traders a regulated route to global crypto options and perpetual futures liquidity. The platform is operated by Coinbase Financial Markets, a regulated futures commission merchant, and supports shared collateral across products. The transition moved Coinbase International Exchange accounts, balances and positions to Deribit on October 1. Institutional access to options and perpetual futures is expected in the coming weeks. Eligible non-US retail customers are expected to follow, while US retail options access is planned for later in 2026. Coinbase also plans to add spot margin and unified portfolios. The US institutional route relies on conditional CFTC staff relief for specified offshore derivatives activity. Coinbase acquired Deribit for about $2.9 billion in August 2025. Deribit recorded more than $1 trillion in trading volume in the year before integration, and BTC options open interest exceeded $30 billion as of September 30, 2026. The deal strengthens crypto derivatives infrastructure and may improve institutional hedging and capital efficiency, but phased access and reliance on CFTC guidance limit its immediate reach. It does not directly change crypto supply or demand, so its near-term price impact is likely limited.

US spot Bitcoin ETFs drew about $119 million on Tuesday, reversing the previous session’s roughly $90 million outflow. BlackRock’s IBIT led with $122 million in inflows, while Morgan Stanley’s MSBT added $7.8 million; Grayscale’s Bitcoin fund lost $11 million. Yet Bitcoin fell from above $86,600 to below $84,000, trading at $83,971, down 2.1% over 24 hours. The Bitcoin ETF inflows therefore failed to halt the decline, which also came amid higher oil prices and Treasury yields, a stronger US dollar and liquidations of leveraged long positions. CryptoQuant contributor MorenoDV warned that profit-taking could weigh on a recovery: BTC is well above active traders’ estimated $68,900 cost basis, so further gains may depend on fresh demand absorbing selling pressure. Spot Ether ETFs recorded about $202 million in outflows, extending their losing streak to six sessions and bringing cumulative withdrawals over the period to around $408 million. BlackRock’s ETHA accounted for the outflows reported in the earlier figures. Over seven days, Ether ETF flows were sharply weaker than Bitcoin ETF flows, which remained net positive at about $173 million. XRP ETFs added $3.1 million, Solana ETFs lost $3.7 million and Zcash ETFs recorded no net flows. The contrast suggests firmer institutional demand for Bitcoin than Ether, but continued Bitcoin ETF inflows and Ether ETF outflows have not yet translated into price support. Traders are watching fund flows, BTC’s support around $84,000–$85,000 and macroeconomic conditions for signs of direction.

US Representative Don Davis has introduced the No Betting on Your Own Race Act, targeting political prediction markets and election contracts. The bill would prohibit federal candidates, authorised campaign committees, spouses and dependent children from trading contracts tied to their own elections. The restrictions would cover election wins, race participation, vote share, margins, placement and nomination contests. Candidates would also be barred from directing others to trade for them or providing funds for such transactions. Violations could bring a civil penalty of at least $10,000 or three times the net gain, whichever is higher. The Federal Election Commission would publish a weekly database of federal candidates, while platforms acting in good faith to close accounts, reverse trades or report suspected violations would generally receive protection. The proposal follows Kalshi’s three-year suspension of Republican candidate Laurie Buckhout and a $2,589.96 penalty after she traded less than $1,000 in contracts linked to her own race. The case was handled under Kalshi’s platform rules rather than federal law. The bill does not name Kalshi or Polymarket, but its broad definition of political event contracts could cover both platforms. Congress is unlikely to pass the measure before the 3 November 2026 midterm elections, and it would not apply retroactively. Election contracts are therefore expected to remain available in the near term. For crypto traders, political prediction markets are a regulatory signal rather than an immediate crypto price catalyst. The proposal adds to concerns about insider trading, market manipulation, consumer protection and event-contract oversight. Short-term effects on liquidity and platform operations should be limited, but tighter regulation could affect the long-term expansion of prediction markets and broader sentiment toward event-based trading.

The US Securities and Exchange Commission has approved Cboe BZX’s listing of Volatility Shares’ 3x Bitcoin ETF, expanding access to leveraged Bitcoin exposure. The Bitcoin ETF targets three times the daily performance of a Bitcoin futures benchmark before fees, using futures contracts rather than spot Bitcoin. A 1% rise in Bitcoin futures would target a 3% gain, while a 1% decline would target a 3% loss. Trading cannot begin until the fund’s registration statement becomes effective. The product uses daily leverage resets, meaning compounding and volatility can cause long-term returns to differ sharply from three times Bitcoin’s performance. The earlier approval also covered a 3x Ether product, identified as ETHK, while the Bitcoin product is expected to trade under BITH. The leveraged ETFs could increase short-term trading, hedging and liquidity, but they are high-risk instruments and may amplify losses during sharp Bitcoin or Ether declines.