Bitcoin faces growing resistance near $88,000 as exchange traded funds return to net selling and higher US inflation weighs on market sentiment, according to a new report from blockchain analytics firm Glassnode.
In its October 14 report, Glassnode identified the $80,000 to $81,500 range as a critical support zone, while investors who purchased Bitcoin over the past two years continue to create selling pressure above current prices.
The report comes as Bitcoin struggles to recover following September’s hotter than expected inflation data, which strengthened expectations of another Federal Reserve interest rate increase.
Despite these pressures, Glassnode said several onchain indicators suggest the market is entering an early recovery phase, with long term holders reducing their losses and Bitcoin trading above important valuation levels.
Bitcoin faces resistance at $88K as ETF outflows accelerate Glassnode identified two groups of investors holding Bitcoin above current prices.
Investors who purchased BTC between six and twelve months ago have an average cost basis near $88,000. Meanwhile, those who bought between one and two years ago have a cost basis around $100,000.
Both levels have rejected previous rallies this year. Bitcoin approached the first in January before falling more than 33%. It also tested the second in May before declining roughly 25%.
According to Glassnode, Bitcoin must recover $88,000 to overcome selling pressure from investors seeking to exit positions near their original purchase prices.
At the same time, institutional demand has weakened.
US spot Bitcoin ETFs attracted nearly $3 billion in net inflows between September 21 and October 6, marking their strongest buying period since November 2025.
However, that momentum reversed on October 7. The funds subsequently recorded approximately $760 million in net outflows, removing a major source of demand from the market.
Glassnode said a sustained return of ETF inflows would provide stronger confirmation that buyers are absorbing the selling pressure.
Bitcoin holds $80K support as long term holder losses decline Despite weakening ETF demand, Bitcoin continues to hold key support levels. The average cost basis of US spot Bitcoin ETFs stands near $81,500, a level Bitcoin briefly lost on October 8 and 13 before recovering.
Glassnode also identified significant buying orders around $80,000 on Binance, while the True Market Mean sits near $78,000. A break below $80,000 could trigger further liquidations, while a move toward $88,000 could force short sellers to close positions. However, sustained gains would require stronger spot demand.
Meanwhile, selling pressure from long term holders has eased. Their realized losses have fallen 85% since peaking on August 12.
At Bitcoin’s June low, roughly twelve coins were sold at a loss for every coin sold at a profit. That ratio has since reversed, with profitable sales outnumbering loss making sales by four to one.
Glassnode said the shift resembles previous market recoveries. Unlike the 2018 and 2022 bear markets, Bitcoin has also avoided closing below its Realized Price, the average acquisition cost of coins in circulation. Even at its June 30 low, Bitcoin remained about 10% above that level.
Hot inflation data adds pressure ahead of Fed decision The latest Glassnode assessment follows a stronger than expected US inflation report that raised concerns about further monetary tightening.
According to the Bureau of Labor Statistics, September’s Consumer Price Index increased 0.6% from the previous month and 3.7% annually, exceeding market forecasts.
Core inflation, which excludes food and energy, rose 0.3% monthly and 2.6% annually.
The figures increased expectations that the Federal Reserve could raise interest rates again after delivering a 25 basis point increase in September.
The next monetary policy decision is scheduled for October 28, followed by the US midterm elections on November 3.
Meanwhile, Glassnode also identified growing speculative activity across individual altcoins.
Its Altcoin Froth Indicator showed elevated leverage among individual tokens since late September, although marketwide speculative activity remained relatively subdued.
The divergence suggests that pockets of the altcoin market could face concentrated liquidations if Bitcoin loses its $80,000 support.
For Bitcoin, Glassnode identified two levels that could determine the next major move.
A sustained recovery above $88,000, supported by renewed ETF inflows, would suggest that buyers are absorbing overhead selling pressure.
However, a break below $80,000 could expose Bitcoin to further declines toward the True Market Mean near $78,000.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
MEXC CEO Vugar Usi Zade believes that Bitcoin is emerging from its bearish phase into a sustainable bull cycle, driven by growing institutional confidence and adoption.
The current market, according to Zade, differs greatly from the previous speculative cycles, with institutional adoption reinforcing Bitcoin’s foundation. He told AMBCrypto,
The cryptocurrency market has entered a sustainable bull trend, fundamentally different from the speculative cycles of previous years.
So, Bitcoin’s price is gradually transitioning out of its bearish cycle.
Besides, he noted BTC reporting a 32% price recovery over the last 90 days, despite sitting below its $126,000 all-time high reached on October 6, 2025.
According to Zade, Bitcoin could eventually reach $176,000, provided institutional demand remains elevated and wider economic conditions improve.
Bitcoin whales accumulate as exchange outflows deepen Bitcoin’s large holders continued moving considerable amounts of BTC, supporting the accumulation story highlighted by Zade.
In particular, Lookonchain reported on an X post that five new wallets received 1,162 BTC, worth roughly $96.77 million, from Wintermute within 12 hours.
Adding to the accumulation narrative, Bitcoin had recorded $116.14 million in weekly Spot net outflows at press time, reflecting more withdrawals than deposits across exchange platforms.
The weekly outflows implied reducing exchange-held supply, potentially limiting the amount of Bitcoin readily available for selling.
These developments notably echoed Zade’s remarks that larger investors were greatly in favor of long-term accumulation. He noted,
Furthermore, large Bitcoin holders have stopped selling, and coins are now flowing en masse into long-term accumulation wallets.
Source: Bitcoin Spot Netflows on CoinGlass ETF inflows surge as corporate Bitcoin holdings grow Aside from the accumulation narrative, participation around institutions also remained elevated across Bitcoin investment products.
Particularly, Bitcoin’s Spot ETFs recorded $175.69 million in daily net inflows at reporting time. The cumulative ETF net inflows hit $57.68 billion, while the total ETF assets stood at $109.03 billion.
Additionally, the daily ETF trading volume had reached $2.36 billion, suggesting improved activity across the regulated investment products.
Also noteworthy, the corporate accumulation remained significant, with 60 publicly traded companies collectively holding 1.27 million BTC, valued nearly $105.53 billion.
The most recent weekly accumulation totaled 3,341.07 BTC, worth approximately $288.94 million .
Notably, these developments correlated with Zade’s comments that institutional market players were becoming majorly influential in Bitcoin’s market structure.
Besides, the executive also identified $80,000 as a crucial institutional cost basis, arguing that established investors had reinforced that level as Bitcoin’s underlying support.
Source: BTC Public Companies Holdings on CoinGlass Final Summary MEXC CEO Vugar Usi Zade says Bitcoin has entered a sustainable bull cycle, with institutional adoption driving the shift.
Five new wallets received 1,162 BTC from Wintermute, Spot ETFs pulled in $175.69M in a day, and 60 public companies now hold 1.27 million BTC.
Michael Saylor believes that the cryptocurrency market is entering a new phase of growth, despite recent uncertainties. In an interview with Bloomberg Television, the Strategy executive states that bitcoin has probably reached its bottom below 60,000 dollars. He now anticipates a return above 100,000 dollars, without providing a specific timeline. His forecasts are based notably on the evolution of the regulatory framework, banking adoption, and the development of digital credit.
In brief
Michael Saylor believes that Bitcoin has reached its floor below 60,000 dollars.
The Strategy executive anticipates a return of Bitcoin above 100,000 dollars.
He forecasts an annual growth of 20 to 30% over the next twenty years.
Banking adoption, regulation, and digital credit support his bullish outlook.
Strategy now holds 848,250 BTC, while market uncertainties persist.
Michael Saylor believes that Bitcoin has reached its bottom
During his interview with Bloomberg Television, Michael Saylor said that the market touched a low slightly under 60,000 dollars. According to him, the price can now resume its upward movement.
We reached the low at a level slightly below 60,000 dollars. We will start again from there.
The executive chairman of Strategy describes the situation as the beginning of a new bull market. However, he has not set any deadline for a return above 100,000 dollars.
His vision takes place in a long-term perspective. Saylor forecasts annual growth of 20% to 30% over the next twenty years. He specifies that he is not seeking to profit from short-term price movements. This position reflects his investment strategy, which is based on prolonged holding of the digital asset. He therefore considers temporary fluctuations as part of the market cycle.
The executive attributes the previous weakness of the prices to trade policies, international tensions, and monetary decisions. Nevertheless, he believes that several factors now support a more favorable evolution. Among them are:
A favorable regulatory environment.
Accelerated adoption by banks.
Growth of tokenized securities.
Strengthening of digital credit networks.
These changes could, according to him, strengthen the links between traditional financial markets and digital assets.
Artificial intelligence strengthens its argument
Michael Saylor also relies on the development of artificial intelligence to explain the potential interest of rare digital assets. According to him, investors will increasingly look for resources that robots cannot reproduce at will. He places bitcoin in this category and presents it as the “king of commodities.” This analysis associates the scarcity of the asset with an evolution of investors’ needs in a rapidly transforming technological environment.
The executive also recalls that the price briefly fell below its 200-week moving average before rebounding. He highlights that the price then found a 25% premium relative to this indicator. This development is an important element of his analysis of the current cycle. However, by itself, it is not sufficient to confirm that the market has definitively reached its bottom.
Saylor also downplays the importance of U.S. election deadlines in long-term outlooks. He believes adoption will mainly depend on companies’ ability to offer useful and appreciated products. In his interview message, he describes bitcoin as a form of raw financial energy. He also presents Strategy as a company capable of transforming this resource into digital credit.
Strategy defends its structured finance model
The interview also addressed the bitcoin sales that Strategy made this year. The first sale of 32 BTC had triggered reactions among the company’s supporters. However, Saylor points out that subsequent sales involving several thousand units did not prevent the market from progressing. He thus wants to evolve the perception of Strategy, which he describes as a structured finance company.
According to this approach, the company can shift between stocks, cash, credit, and cryptocurrencies depending on market conditions. Saylor states that recent sales are not the core of his future strategy. He also believes that Strategy has probably purchased more bitcoins than any other company this year. The company intends to continue its acquisitions during the bull phase, notably through the issuance of credit-linked securities.
After a new purchase of 250 BTC announced on October 12, Strategy’s reserves now reach 848,250 BTC. This position confirms the central place of cryptocurrencies in the company’s financial model. Saylor also recalls the performance recorded since the first purchase made in August 2020. During this period, bitcoin has grown by about 38% per year, while the MSTR stock has shown an annual return between 52 and 53%, according to his statements.
Bitcoin’s return toward 100,000 dollars remains uncertain
Despite Michael Saylor’s outlooks, available indicators still show some caution. The bitcoin price was trading near 83,900 dollars early in the day. At the same time, prediction markets assigned only a 27% probability to a price return to 100,000 dollars. This gap between the executive’s expectations and market probabilities highlights the uncertainty surrounding the next step.
Strategy must also face an issue related to its presence in global stock indices. MSCI must announce by October 16 whether new eligibility rules could lead to excluding the company from its indices. Such a decision could affect investment flows associated with its stock. JPMorgan estimates that about 2.8 billion dollars could be concerned by this potential exclusion.
Michael Saylor criticized the position considered by MSCI and hopes that the index provider will reverse its decision. This issue adds extra pressure on Strategy, regardless of the cryptocurrency market’s evolution. The company will therefore have to simultaneously manage its accumulation objectives and the possible consequences of a change in stock rules. The awaited decision could thus influence its financial environment in the short term.
In the medium term, the bullish scenario advocated by Michael Saylor will depend on several factors, including price evolution, institutional adoption, and regulatory conditions. A return above 100,000 dollars remains his goal, but no schedule confirms this trajectory. At the same time, Strategy will have to monitor MSCI’s decisions and maintain its ability to finance acquisitions. Bitcoin will thus move between long-term growth prospects and the uncertainties inherent to the market.
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Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Bitcoin (CRYPTO: BTC) fell to $82,000 Wednesday as hotter-than-expected U.S. inflation data fueled concerns over additional Federal Reserve rate hikes.
U.S. headline CPI accelerated to 3.7% year-over-year, exceeding the 3.6% consensus estimate and rising from the previous 3.4% reading.
Macro analyst Benjamin Cowen warned that persistent inflation, elevated Treasury yields and rising oil prices could pressure Bitcoin and other risk assets ahead of the November midterm elections.
Despite the selloff, institutional demand showed signs of recovery.
SoSoValue data showed U.S. spot Bitcoin ETFs recorded $175.6 million in daily net inflows, following three sessions of outflows and one session of marginal inflows.
Is History Giving Clues on What’s Next?Crypto trader Lucky Luciano highlighted Bitcoin’s declining volatility as a potential signal of an approaching major price move.
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He noted that previous periods of subdued volatility preceded significant rallies, including Bitcoin’s advance from around $27,000 in 2023 to above $73,000 in early 2024.
Bitcoin subsequently reached an all-time high above $126,000 in 2025 before entering its current correction.
However, Luciano cautioned that low volatility does not guarantee an upside breakout and could precede another sharp decline.
On the other hand, Cowen identified $83,000 as a critical technical level for Bitcoin, emphasizing that weekly closes carry greater significance than daily price fluctuations.
Are Long-Term BTC Holders Preparing to Sell?CryptoQuant data showed increased activity among Bitcoin held for one to three years and more than three years, with both cohorts beginning to move more frequently in late September.
Similar spikes emerged during Bitcoin’s January-February drop from $90,000 to $65,000 and again in late July-August.
However, analysts cautioned that increased movement does not necessarily indicate selling or profit-taking.
The recent Ledger security incident could spur wallet transfers, pushing seven-day moving averages higher as users migrate assets to new recovery phrases.
BlackRock's Bitcoin ($BTC) and Ether ($ETH) ETFs took in $7.9B in Q3 2026, lifting digital asset AUM 63% to $79.6B as firm-wide AUM reached $15.5T.
@BlackRock's digital asset funds returned to net inflows in the third quarter, reversing the outflows seen earlier in 2026. The asset manager took in $7.9 billion for its Bitcoin ($BTC) and Ether ($ETH) ETFs, after about $2.2 billion left in the first half of the year.
Rising prices did most of the work. Market gains added another $22.9 billion, lifting digital asset assets under management (AUM) 63% to $79.6 billion from $48.8 billion at the end of June, according to CoinDesk.
Crypto rebound still short of the 2025 peakDespite the quarterly jump, BlackRock's crypto holdings remain 23% below year-ago levels. CoinDesk reported that investors added $6.3 billion over the past 12 months, but the decline in asset values outweighed those contributions. The firm's digital asset AUM peaked at around $104 billion in September 2025.
The category is driven mainly by two products: the iShares Bitcoin Trust (IBIT) and the iShares Ethereum Trust (ETHA), Crypto Briefing reported. The same report said the $7.9 billion was the strongest quarterly inflow figure since the third quarter of 2025, and that Bitcoin rose more than 42% over the quarter.
Firm-wide inflows reach $205 billionAcross the group, BlackRock drew $205 billion in net inflows in the third quarter, with total AUM reaching $15.5 trillion, according to the company's third-quarter 2026 earnings release. The release put iShares ETF net inflows at $135 billion and active net inflows at $66 billion. Revenue rose 19% year over year.
Digital assets remain a small part of the overall business. They contributed about $8 billion of the $135 billion in ETF flows, according to Crypto Briefing. Still, the third-quarter figures show institutional demand for regulated Bitcoin and Ether exposure returning as crypto prices recovered from the first-half slump.
Sources:
CoinDesk: BlackRock's crypto ETF assets surge 63% but remain far below 2025 peak
BlackRock: Third Quarter 2026 Earnings Release
Crypto Briefing: BlackRock's crypto ETF assets jump 63% to roughly $80 billion in Q3
A British software engineer, Lewis Barber, has filed a lawsuit against HDR Global Trading, the operator of BitMEX, in London’s High Court, demanding the return of 324.8 bitcoin—valued at approximately $27.2 million. Barber accuses the shuttered crypto derivatives exchange of selling him perpetual swap derivatives in the UK without authorization from the Financial Conduct Authority (FCA).
Alleged unauthorized trading and legal basisBarber reportedly conducted 2,294 trades on BitMEX across five accounts from 2018 to 2022. Of those, 1,053 trades resulted in losses, all involving perpetual swaps, which function like futures contracts but have no expiry date. He contends that these transactions fall under regulated activity as defined by the Financial Services and Markets Act 2000, making BitMEX’s offerings unlawful in the UK since the company lacked FCA approval.
In December 2025, Barber’s legal team wrote to BitMEX seeking to rescind the trades and requesting repayment of losses. Barber argues that, because of the lack of UK authorization, the contracts are unenforceable and he is entitled to recover the funds lost on these trades.
He further claims BitMEX was aware it did not have the proper licensing in the UK but still indicated that trading was legitimate for UK users.
Barber asserts that without FCA approval, the derivatives contracts he entered into with BitMEX cannot be legally enforced against him, and thus seeks repayment of the bitcoin lost in these trades.
The 324.8 bitcoin that Barber seeks to reclaim was valued at £20.4 million on October 1, with the amount rising to around $27.2 million according to the rates cited in court filings.
BitMEX’s UK operations and marketing reachBarber’s claim also highlights BitMEX’s active marketing efforts targeting UK users, including global campaigns, allowing UK residents to register on the platform, and promoting itself with an advertisement in a major UK newspaper in January 2019. The FCA issued a public warning in March 2020, specifically stating that BitMEX was not authorized, and cautioning that users would have no access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if they traded on the platform.
Further legal challenges and platform closureBitMEX halted trading on September 23, 2026, marking the end of more than 11 years in business. Its parent entity, the Seychelles-based HDR Global, attributed the shutdown to its inability to secure a buyer the previous year. Verified users with remaining assets on BitMEX now face possible fees of $50 per month or 1% annually, whichever is greater, for unclaimed account balances.
Beyond the London lawsuit, BitMEX faces additional legal pressures. In New York, the platform stands accused of operating a secret “Insider Trading Desk” intended to trade against clients and deliberately freezing servers during high volatility to trigger liquidations. In July, BKX Services and David Namdar initiated a proposed class action, claiming losses of 623 bitcoin and seeking compensation for the alleged misconduct. BitMEX disputes the allegations.
Regulatory scrutiny and industry parallelsBitMEX’s co-founder Ben Delo has recently made headlines in the UK due to large donations totaling £36 million to the Reform UK political party. Delo, Arthur Hayes, and Samuel Reed pleaded guilty in 2022 to violating the U.S. Bank Secrecy Act by failing to implement suitable anti-money laundering measures. The trio avoided imprisonment and received pardons from President Trump in March 2025. BitMEX itself pleaded guilty to similar charges in 2024 and paid $100 million to the U.S. Department of Justice in January 2025.
The current lawsuit against HDR Global Trading shares similarities with a recent case filed in June 2026, where nearly 1,700 investors sued Binance and its former CEO Changpeng Zhao for the unauthorized sale of derivatives in the UK, seeking more than £150 million in compensation.
Given the regulatory and legal complexity surrounding derivatives trading, monitoring live market developments is critical for market participants. In such a fast-moving environment, where a single Federal Reserve decision or rapid altcoin listing can alter trading dynamics within seconds, investors are seeking efficiency to avoid friction across multiple platforms. Many traders now consolidate their activities with privacy-focused tools like CryptoAppsy, which offer real-time charts, automated price alerts, specific news for each coin, and essential macroeconomic data—all in one place, and without requiring users to create an account.
Bitcoin fell Wednesday in response to consumer-price inflation remaining stubbornly high, increasing the odds for interest-rate increases and pushing cryptocurrencies lower.
The flagship cryptocurrency accelerated losses throughout the day, falling 2.1%, to $81,624, in Wednesday afternoon trading. Bitcoin started its decline in the morning, after the latest U.S. CPI release showed prices for consumer goods being 3.7% higher in September than the same time last year.
The Labor Department's figures were hotter than August's gain of 3.4%, and exceeded the 3.6% rise expected by economists surveyed by The Wall Street Journal.
Following the report's release at 8:30 a.m. ET, bitcoin prices fell to below $82,000 from trading at nearly $84,000.
Bitcoin is now trading around the spot cost basis for U.S. ETFs, Glassnode said in a note. Below that is a large block of bids sitting on Binance for bitcoin at $80,000, the firm said, making those prices key support levels for bitcoin.
Should bitcoin slide lower than that, then analysts have projected prices could retreat back to around $70,000, evaporating the sharp gains bitcoin posted last month.
A stronger-than-expected inflation reading tends to pressure bitcoin, increasing expectations for higher U.S. interest rates and weighing on non-yielding assets such as cryptocurrencies.
"Core [inflation] at 0.3%, above consensus, puts an October hike back in play after the market had faded it to one in five," Can-Luca Köymen, investment strategist at Sygnum Bank, said.
"For bitcoin, higher yields and a firmer dollar are the near-term headwind, and that matters more than any single day's ETF flow," Köymen added.
Demand for bitcoin has also been an issue on both the retail and institutional sides, analysts said, exaggerating price movements due to the low volumes being traded but providing little lasting momentum for bitcoin in either direction.
The CME Group's FedWatch assesses a 67% chance that interest rates stay unchanged after the Federal Reserve's Oct. 28 meeting, with a 33% chance of a quarter-point boost. Immediately after the CPI report, odds were seen swinging to 50/50 for a potential increase.
Write to Joseph Wilkins at [email protected] and Kirk Maltais at [email protected]
Renowned investor and founder of Morgan Creek Capital Management, Mark Yusko, suggested that Bitcoin (BTC) could increase in value eight to tenfold in the coming years. Arguing that Bitcoin could eventually replace gold in the global financial system, Yusko considered a market capitalization of $15 trillion a very realistic target.
In an interview with the YouTube channel New Era Finance, Yusko, commenting on the future of Bitcoin, said that its current market capitalization of approximately $2 trillion indicates significant growth potential.
The investor stated that the total market value of gold is approximately $30 trillion, with $15 trillion of that amount used as a store of monetary value. Arguing that Bitcoin could eventually compete with gold in this area, Yusko said the following:
“I think Bitcoin could easily become a $15 trillion asset. That would mean an increase of about 8, or even 10 times from current levels. I think this could happen within the next 5, 8, or 10 years. I don’t know exactly when, but I absolutely believe it will happen.”
Yusko predicted that governments would eventually begin to consider Bitcoin as a reserve asset. He noted that central banks could allocate a portion of their reserves to Bitcoin while continuing to hold gold, suggesting that this development could accelerate institutional adoption.
Is a New Bull Market Beginning in Bitcoin? Yusko, also evaluating Bitcoin’s short-term outlook, said he believes the market has emerged from a downtrend and is entering a new accumulation phase.
The investor noted that Bitcoin had formed a double bottom around $60,000 and that trading volume had increased at these levels, indicating that selling pressure was weakening.
Yusko stated that higher lows and higher highs have begun to form recently, arguing that this could be one of the first signals of a new bull market. However, the investor added that he does not expect the rise to immediately turn into a parabolic movement.
Yusko stated that Bitcoin might first go through a gradual recovery period, and predicted a strong upward movement after the next halving in 2029.
Yusko also cited network value models based on Metcalfe’s Law, stating that Bitcoin’s current fair value is approximately $105,000. During the interview, the investor noted that Bitcoin was trading around $85,000, arguing that the price remaining below the level indicated by the model could create accumulation opportunities for long-term investors.
“Inflation and Increased Money Supply Could Support Bitcoin” According to Yusko, one of the most important factors supporting Bitcoin’s long-term bull run will be the erosion of the purchasing power of fiat currencies.
The investor argued that approximately $10 trillion in money was created in the first 245 years after the founding of the United States, and that a similar magnitude of monetary expansion has occurred in the last five years, claiming that the increase in the money supply has strengthened demand for scarce assets such as gold and Bitcoin.
Yusko, noting that gold has been used as a store of value for thousands of years, said that Bitcoin could also play a similar role thanks to its limited supply and decentralized nature.
*This is not investment advice.
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Riot Platforms has signed a custody agreement with BitGo Bank & Trust, National Association. The deal moves Riot’s digital assets out of NYDIG Trust Company LLC and into BitGo’s vaults.
What the custody agreement covers Under the arrangement, Riot (NASDAQ: RIOT) will transfer assets currently held at NYDIG Trust to BitGo. BitGo will then serve as the custodian for Riot’s digital assets going forward.
Riot has not publicly released the specific terms of the agreement. It also has not said how much Bitcoin is moving or when the transfer becomes effective.
Research compiled on the deal places the custody transition in September 2026. That timing lines up with another balance sheet move Riot made the same month.
In September 2026, Riot repaid a $200 million Coinbase Credit facility. Paying it off released Bitcoin collateral that had been held in custody with Coinbase.
Why BitGo, and why now In December 2025, the Office of the Comptroller of the Currency (OCC) approved BitGo Bank & Trust to operate as a federally chartered national trust bank.
In August 2026, BitGo Holdings, Inc. acquired NYDIG’s institutional trading business for approximately $42.5 million.
The acquisition is part of a broader push by BitGo into trading, settlement and custody services. Adding Riot as a custody client fits neatly into that expansion.
The NYDIG chapter Since November 2023, Riot had used NYDIG for segregated cold storage of its Bitcoin holdings.
Riot has not publicly explained why it chose to switch providers. The available timeline shows NYDIG selling its institutional trading arm to BitGo just one month before the custody transition.
What this means for Riot and the custody market For Riot shareholders, the practical question is whether the company’s Bitcoin is safe and accessible. Swapping a state-chartered trust company for a federally chartered national trust bank raises the regulatory profile of whoever is holding those coins.
The move fits a broader pattern described in the research: institutions increasingly prefer regulated bank custodians for digital assets, with regulatory clarity becoming a key selling point as custody providers compete for large clients.
BitGo’s purchase of NYDIG’s institutional trading business, followed by a high-profile custody client moving from NYDIG Trust to BitGo, indicates a market where scale and regulatory status are becoming decisive.
With the $200 million facility settled and the collateral released, Riot has fewer of its coins tied up with lenders. Consolidating custody with a single regulated bank could simplify how the company manages and reports its holdings.
Key things to watch next include any SEC filing that spells out the agreement’s terms, the amount of Bitcoin ultimately transferred, and whether Riot uses its freed-up collateral for new financing or holds it outright.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
XRPL Commons has announced early access to the XRP Ledger’s proposed native lending tools at its Oct. 24–25 New York hackathon, with more than 400 builders registered for the 36-hour event while validator voting continues.
Summary
More than 400 builders have registered for the New York event, according to XRPL Commons.
Developers will test lending and vault tools before the proposed amendments reach mainnet.
Four development tracks offer more than $40,000 in prizes and access to incubation.
Activation requires sustained validator support, with no fixed launch date for the lending proposals.
XRPL Commons, the Paris-based nonprofit supporting XRP Ledger development, said participants in its AI & Fintech XRPL Hackathon will build lending applications using test versions of XLS-65 and XLS-66. The organization named Ripple, the XRPL Foundation, Mastercard, Amazon Web Services, Ledger and QuickNode as partners backing the event.
With the amendments still awaiting approval, the organizer said teams will work in a test environment rather than launch native lending products on the main network. Ripple has already made the proposed protocol available for developers to test.
XRP Ledger lending still depends on validator approval
Under the proposed framework, XLS-65 would introduce Single Asset Vaults, allowing several depositors to pool one asset, such as XRP or Ripple’s dollar stablecoin RLUSD. The design gives each depositor shares representing their portion of the pool, according to XRPL Commons.
XLS-66 would use those pooled assets to fund fixed-term loans. As described in the lending proposal, borrowers and designated loan managers would agree on interest, repayment schedules, and other terms, while the ledger would record and manage the resulting credit arrangements.
Rather than require borrowers to lock up assets worth more than their loans, the proposed system relies on credit assessments outside the blockchain. According to the protocol’s design, a first-loss capital buffer can absorb an initial portion of losses when a borrower defaults.
For applications using the proposed features, XRPL Commons said lending could operate directly on the ledger without a bridge to another blockchain or a separately deployed smart contract.
“Developers have an opportunity to bring proven DeFi models to the XRP Ledger—and build financial applications that have yet to move on-chain,” said Odelia Torteman, head of digital assets at XRPL Commons.
Torteman said the proposed vault and lending functions would add a credit layer, creating ways to use XRPL-based assets “without bridges or custom smart contracts.”
As crypto.news reported on Aug. 10, Ripple’s validator backed both lending amendments. Under the network’s amendment rules, however, proposals must maintain support from more than 80% of trusted validators for two consecutive weeks before activation.
XRPL documentation describes that voting process as the mechanism for introducing changes to the core protocol. The hackathon announcement sets no activation date, leaving participating teams to develop against test versions while validators make their decisions.
Lending software changes add defined vault periods
The lending proposals have also undergone changes beyond the original vault and loan framework.
In coverage published on Sep. 18, XRPL developers’ version 3.4.0 lending changes included a separate amendment called LendingProtocolV1_1. According to the release documentation cited in that report, the amendment introduces closed-ended vaults with defined periods for deposits, investment, and redemption.
Under Ripple’s technical documentation, deposits and withdrawals stop during the investment period while pooled assets can fund loans. Redemption begins after that period ends, allowing depositors to recover their share once loans mature.
The documentation also sets out cash-basis accounting, under which new vaults would recognize interest when borrowers pay it rather than count all scheduled interest when a loan begins. The additional amendment remains dependent on the underlying lending architecture and its own approval process.
Commercial developers have announced preparations alongside that work. On Sep. 11, Clearpool outlined its planned XRPL credit expansion, proposing lending products built around the native vault and lending standards.
According to Clearpool’s proposal, Ripple committed capital toward products offering yield opportunities using XRP and RLUSD. An associated arrangement with Cicada Partners would provide RLUSD-denominated working-capital loans to fintech and payment companies, with Cicada handling borrower selection, loan terms, and credit risk.
For U.S. institutions considering RLUSD-based products, Ripple says Standard Custody & Trust Company issues the stablecoin under a limited-purpose trust charter supervised by the New York State Department of Financial Services. The state regulator separately lists Standard Custody as a chartered trust company.
New York teams will compete across four tracks
Alongside Lending & Borrowing, XRPL Commons said the hackathon will offer Protocol Innovation, Agentic Finance and an open category called Why Not.
For the protocol track, the organizer is seeking C++ and systems engineers to work on amendments, client software, and developer tools. A three-day Core Dev Bootcamp will run in New York on Oct. 20–22 before the weekend competition.
The Agentic Finance track will cover infrastructure that allows AI agents to make payments and manage funds on the XRP Ledger, according to the event description. XRPL Commons said developers can use existing ledger functions, including escrow and Credentials, in their applications.
The organizer has opened participation to developers new to XRPL as well as established teams. Its event materials list more than $40,000 in prizes, including dedicated bounties from Mastercard, Ledger, QuickNode and AWS.
Mastercard’s involvement was previously announced on Aug. 26, as reported in Aug. 27 coverage of its New York hackathon sponsorship. Separately, Mastercard announced plans in June to support regulated stablecoin settlement, naming RLUSD and the XRP Ledger among the assets and networks in its expansion.
For the competition, XRPL Commons said mentors and judges will include representatives from the sponsoring companies, Ripple and the XRPL Foundation. Its list also includes t54.ai, Evernorth, Soil, XRPScan, Common Prefix, Sum, Blockvault and the European Business School.
Winning teams can enter XRPL Commons incubation
Beyond the prize competition, XRPL Commons said top teams will receive fast-track access to grants and incubation. The hackathon is scheduled ahead of Ripple’s Swell conference, which runs Oct. 27–29 at The Shed in New York.
“We’re inviting developers and innovators to New York to turn these building blocks into working products over one weekend,” said David Bchiri, president of XRPL Commons.
Bchiri said the organization would support selected projects after the event through incubation and introductions to partners and investors.
Founded in 2023, XRPL Commons says it has incubated more than 70 projects and works with over 5,000 active builders. The nonprofit named ReGolda, Blockvault and MobileWallet among its alumni.
According to the organization, its three-month Make Waves buildathon involved 171 builders and produced 56 mainnet launches. Four participating teams are entering the ninth cohort of its Aquarium incubator, alongside Megawatt, the Paris Blockchain Week hackathon winner that began incubation this month.
DriveWealth, a global Brokerage-as-a-Service platform, is integrating Ripple’s blockchain infrastructure to modernize funding, settlement and institutional digital assets custody across global financial markets.
The partnership will initially introduce Ripple’s RLUSD stablecoin settlement on the XRP Ledger in Europe, with plans to expand into the U.S.
Additionally, the companies are exploring equity financing opportunities through Ripple Prime’s Delta One business.
The integration will allow DriveWealth clients to fund collateral accounts using stablecoins that convert into cash in near real time, reducing reliance on traditional bank wires.
“We’ve already enabled 24/5 trading; now we need the funding to match,” said DriveWealth CEO Naureen Hassan.
Ripple SVP of Stablecoins Jack McDonald said the partnership extends beyond cross-border settlement to modernize trading, custody and financial infrastructure.
Evernorth To Deploy 473 Million XRP TreasuryNasdaq-listed Evernorth Holdings Inc. (NASDAQ:XRPN) announced Ripple, Kraken, Coinbase (NASDAQ:COIN) and BitGo as its inaugural institutional execution partners.
The company plans to begin deploying its 473 million XRP treasury in Q4 of 2026, shifting from passive holdings toward institutional strategies designed to generate earnings and increase XRP (CRYPTO: XRP) per share.
"We’re putting our treasury to work," said Evernorth founder and CEO Asheesh Birla.
Evernorth will initially deploy capital through established institutional counterparties before expanding into DeFi strategies as XRPL’s native lending and on-chain credit infrastructure matures.
Image: Shutterstock
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Ledger, a leading manufacturer of cryptocurrency hardware wallets, is facing a major security incident as reports reveal its supply chain hack has spread from Southeast Asia to European retailers. Crypto analyst Fto (known as @ftosol) alerted the community, warning XRP holders and other crypto users that devices with embedded LTE-enabled spy chips, originally discovered in Malaysia, have surfaced on store shelves in Europe.
The original attackThe breach originated with CryptoBilis, a Ledger-authorized reseller operating in Malaysia, Indonesia, and the Philippines. Hackers physically tampered with Ledger Nano X hardware wallets before delivery, installing a concealed secondary circuit board beneath the device’s screen. This implant contained an LTE modem and an embedded SIM card.
Once users set up their new hardware wallet, their 24-word recovery phrases appeared on the display. The malicious hardware covertly captured these sensitive words and transmitted them wirelessly via mobile data to attackers. As the private seed phrases were compromised, criminals could access affected wallets remotely from anywhere in the world. Ledger’s own authenticity verification was unable to detect the intrusion since the secure cryptographic chip of the device remained intact and functional.
Blockchain analytics company Bitquery conducted an investigation across multiple chains, including TRON, Bitcoin, Ethereum, BNB Chain, Polygon, and Solana. Their research confirmed more than $100 million in losses, with funds stolen from over 320 wallets.
Mini dictionary: Bitquery, a blockchain analytics firm, specializes in providing tools and services for monitoring on-chain data, tracking transactions, and analyzing blockchain-based activities across multiple networks.
NetworkLosses DetectedTRON, Bitcoin, Ethereum, BNB Chain, Polygon, Solana$100 million+ (combined)The supply chain is compromisedNew evidence indicates the attack on Ledger’s supply chain is much broader than initially reported. Fto posted images exposing devices with unauthorized circuit boards, confirming that the threat is no longer limited to Asia. Devices containing malicious components are now crossing international borders and being offered to unsuspecting consumers in Europe.
Ledger will never recover from this. The entire supply chain is under attack. It’s no longer isolated. It’s everywhere. Reports tied it back to Asia, but the same malware is now being identified in European retail channels. If compromised devices are already crossing borders, this situation demands immediate action.
Members of the crypto community expressed deep concern about the situation. One observer emphasized that the most alarming aspect is the device’s ability to pass Ledger’s official Genuine Check, as only physical inspection can reveal the implanted board. Another user suggested that Ledger’s significant marketing presence may reduce the public visibility of the incident, potentially minimizing news coverage despite the scale of the breach.
The scariest part of this hack is that Ledger’s own verification cannot detect it. Only opening the hardware reveals the compromised component.
What holders should doFto strongly advised users to act without delay and move their assets off affected Ledger devices. Hardware wallets have been widely trusted for secure digital asset storage, but ongoing reports of compromised units have led many investors to reassess their reliance on such devices. Fto concluded that Ledger’s reputation may be permanently damaged by the scale and reach of the current attack.
On October 14, 2026, DriveWealth and Ripple announced an integration covering stablecoin settlement, cross-border payments, custody and equity financing. DriveWealth will begin the settlement work in Europe with $RLUSD on the $XRP Ledger, using Ripple’s mint and burn capabilities. The companies plan to extend that settlement setup to the United States.
The partnership puts stablecoin funding behind DriveWealth’s brokerage infrastructure rather than launching a separate retail product. DriveWealth supplies brokerage systems to more than 100 partners worldwide, including fintechs, digital wallets and financial institutions that offer access to American markets. Ripple says its regulatory footprint spans more than 85 licenses.
The immediate mismatch is between trading and funding hours. American equities settle on T+1, while international dollar transfers can take longer. DriveWealth already supports trading 24 hours a day on five weekdays. Its chief executive, Naureen Hassan, said, “We’ve already enabled 24/5 trading; now we need the funding to match, so clients can move with the markets instead of waiting for them.”
How the integration is divided
Stablecoin settlement starts in Europe. DriveWealth will use Ripple’s stablecoin infrastructure, $RLUSD and the $XRP Ledger. Ripple’s mint and burn functions will connect token issuance and redemption to the settlement flow. The announcement gives no production date for this European integration and describes American expansion as a later plan.
DriveWealth is taking the same regional order with custody. The companies say the first custody work is in Europe and that additional markets will follow. The release does not tie custody expansion to the American settlement plan, so partners cannot assume both products reach each market together. Each product has its own stated scope: settlement uses $RLUSD and XRPL, payments receive cross-border funds, and custody covers DriveWealth’s digital asset needs.
A separate Ripple Payments integration will accept cross-border funding from DriveWealth’s global partners. This is the inbound route into the brokerage platform. The companies present it as a way to reduce dependence on transfer windows and bank cutoff times when a partner needs to fund activity in another market.
Custody is also starting in Europe. DriveWealth is working with Ripple on digital asset custody there, with more markets planned over time. DriveWealth will move treasury and custody infrastructure onto Ripple’s rails. The stated goal is one real-time view across dollars, stablecoins and crypto, with transfers between those balances.
The equity-financing component is less settled. DriveWealth and Ripple Prime are exploring opportunities through Ripple Prime’s Delta One business, which covers American equities and equity derivatives. The announcement does not describe a product, customer, collateral schedule or start date for that work. Operators should distinguish this exploratory component from the announced settlement, payments and custody integrations.
What changes for brokerage funding
DriveWealth clients will be able to fund and manage collateral accounts with stablecoins that convert to cash in near real time. The operational benefit is narrower than continuous equity settlement. A client can move funding without waiting for a bank wire, but the release does not say that the underlying securities settlement cycle changes from T+1.
That distinction matters for treasury teams. The integration targets the cash leg before and around a trade. It can shorten the time between a partner sending value and DriveWealth recognizing usable cash. It also gives DriveWealth a common system for viewing treasury and custody balances in dollars, stablecoins and crypto. The announcement does not identify supported partner jurisdictions, conversion spreads, transaction fees or service-level commitments.
The integration also separates the funding asset from the cash balance used inside the brokerage account. The release says clients can send stablecoins and convert them to cash in near real time. It does not say that equities will settle in $RLUSD or that customers will hold tokenized shares on XRPL. For a partner integrating the system, the relevant handoff is therefore stablecoin to cash, followed by the existing brokerage process.
DriveWealth’s role is broader than a single trading front end. Its infrastructure lets fintechs, wallets and financial institutions provide access to American markets. A successful deployment could put the same Ripple funding route behind several partner products. The release does not name which of DriveWealth’s more than 100 partners will adopt it first, so the initial distribution cannot yet be measured.
International partners are the clearest initial users. They currently plan funding around cross-border transfer windows and cutoff times. Ripple’s system is meant to let them send stablecoins into DriveWealth and convert those balances to cash near the time the funds are needed. The later American settlement expansion would add a domestic endpoint, although the companies have not provided its timing.
Hassan said the aim is for capital to keep working overnight and on weekends rather than remain idle. The release also says DriveWealth will extend the funding and custody experience its clients already use to stablecoins and digital assets. That framing leaves DriveWealth as the brokerage layer while Ripple provides the stablecoin, payment and custody infrastructure underneath it.
What remains open
The announcement identifies Europe as the first settlement and custody market but does not name a launch date or the European entities and partners that will use the integrations first. It also leaves the American expansion schedule, fees, conversion terms and eligible currencies unspecified. Those details will determine whether partners use $RLUSD for routine brokerage funding or only for transfers that do not fit bank operating hours.
The next dated milestone is October 28, 2026, when the companies are scheduled to discuss the partnership in a fireside chat at Ripple Swell in New York City. The unresolved issue is whether that session will add deployment dates and commercial terms for the European launch and planned American expansion.
Ripple, a payments company using blockchain technology, is set for a huge partnership with DriveWealth, a global brokerage infrastructure provider, which is expected to usher in blockchain-based payments, stablecoin settlements, and digital asset custody to traditional financial markets.
As per the announcement, both companies are set to integrate a number of Ripple's institutional products with the global investment infrastructure of DriveWealth.
DriveWealth is a brokerage-as-a-service provider that powers the investing and trading services for over 100 partners globally, ranging from fintechs, digital wallets, and financial institutions providing access to U.S. stock markets.
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Through this new partnership, Ripple's exposure in the traditional financial space may take a massive leap forward by offering a global footprint of investment platforms access to Ripple's blockchain-based infrastructure.
RLUSD to be centralOne of the major aspects of this partnership is the integration of a U.S. dollar-backed stablecoin (RLUSD) for institutional settlements.
DriveWealth will first roll out institutional settlements using RLUSD on the XRP Ledger (XRPL) in Europe before making its way to the U.S. as well.
Ripple's stablecoin minting and burning features will be used for this integration.
The objective here is to enable institutional customers to fund and manage their collateral accounts with stablecoins, which can easily be exchanged for traditional currency in close to real time.
This will help them minimize their dependence on traditional bank transfers, which might take a much longer time to complete, especially if the money is being transferred overseas.
There's a disconnect between U.S. equities settlement, which is cyclical, and cross-border money transfer, which could take a lot more time to complete.
With stablecoins, DriveWealth aims to enable faster capital availability so that clients can fund their trading operations without relying on bank wires.
Apart from payments and stablecoin settlement, this partnership could also offer Ripple's expanding prime brokerage business new avenues.
DriveWealth and Ripple Prime are looking into equity financing opportunities that Ripple Prime's Delta One can offer.
Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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XRP ETFs have already attracted $8 million in net inflows this week, extending their positive streak to 13 weeks, while Bitcoin, Ethereum, and Solana funds shed a combined $1.25 billion. The gap points to selective demand for XRP exposure as the coin hovers near the $1.37 level, leaving price confirmation to the chart.
XRP products received inflows in only two of the five sessions: $3.14 million on October 6 and $8.17 million on October 8. The other three sessions recorded no net movement, meaning the weekly total came from a concentrated pair of trading days rather than steady daily subscriptions.
XRP ETF net assets stood at $1.57 billion, while cumulative net inflows since launch reached $1.80 billion. Bitcoin ETFs, on the other hand, recorded $681.1 million in outflows, Ethereum funds lost $542.07 million, and Solana products shed $24.81 million. Together, those withdrawals were roughly 110 times the size of XRP’s weekly inflow.
Ethereum funds posted withdrawals in every session from October 5 through October 9, while Solana’s redemptions ended its 14-week positive run. Bitcoin’s negative week followed three consecutive weeks of inflows, a reminder that weekly Bitcoin ETF outflows can reverse quickly rather than establish a lasting demand trend.
The latest split supports a selective-interest reading. Fund-flow data captures subscriptions and redemptions, not the identity or intention of every investor.
Important to note that Bitcoin ETFs had recorded $1.918 billion in net inflows just weeks earlier, illustrating how sharply the weekly picture can change.
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XRP Price Hinges on the $1.30–$1.43 RangeThe October 14 price snapshot put XRP near $1.37, and the token is trading between support at $1.35 and resistance at $1.40. That leaves price action, rather than the flow streak alone, as the key factor in assessing whether the setup strengthens or weakens.
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A move above the $1.38 resistance level would be a price development to monitor, while the cited support level remains below the current price. The range is consistent with the context in a recent XRP price analysis around $1.36–$1.37 and $1.45 support, but the ETF data does not establish which direction XRP will take.
The streak is therefore supportive sentiment context, not a standalone XRP price prediction. A further XRP market analysis focused on support and resistance near $1.37 likewise frames price levels as conditions to monitor rather than a guaranteed direction.
If XRP moves above the $1.40 resistance level, that price action would require confirmation beyond the ETF flow data. If it remains below resistance, the 13-week inflow streak still offers no assurance that buyers will absorb available supply.
The next test is whether XRP can move above the $1.38 resistance area or remain below it; until then, the flow data signals relative interest, not a confirmed breakout.
XRP has faced persistent downward pressure for several months, challenging the resolve of investors who entered at higher price levels. Despite this extended correction, crypto analyst Dark Defender has urged market participants to remain calm, emphasizing that such patterns are part of larger market cycles.
Elliott Wave analysis points to key reversalSharing insights on social media, Dark Defender outlined his Elliott Wave analysis for XRP on the weekly chart. He described the recent decline as Wave 2 in an ongoing bullish cycle, observing this phase as a necessary correction designed to remove weaker holders prior to a potential upward surge.
According to Dark Defender’s technical breakdown, the correction may have already completed its course. His chart suggests an A-B-C corrective structure: Wave (A) bottomed near $1.8, Wave (B) rebounded toward the all-time high at $3.65, and Wave (C) brought the price down to roughly $0.95. This recent low is considered the foundation for the next upward movement.
The turbulence in recent months corresponds to Wave 2, which was anticipated in advance; the structure remains unchanged, but those holding XRP have shifted. A move above $1.5692 will indicate the start of Wave 3.
From that base, Dark Defender counted Wave (1) ending with XRP climbing to $1.68 in late August, followed by a Wave (2) pullback to the $1.29 area. XRP is currently trading near $1.37, leaving it just under a critical resistance level.
Level to watch: The $1.5692 breakoutDark Defender has identified $1.5692 as the decisive point for the next upward phase. This level aligns with the 85.4% Fibonacci extension, and a sustained move above it would mark the official start of Wave 3 in the Elliott Wave sequence.
Typically in Elliott Wave theory, Wave 3 tends to be the longest and strongest in a five-wave structure, making the $1.5692 level particularly significant for traders and analysts.
Projected targets and technical momentumDark Defender’s chart offers a set of Fibonacci-based targets for the anticipated move. Wave (3) targets the 361.80% extension at $7.0786. If achieved, a subsequent retracement in Wave (4) could bring XRP back to around $4.1043. The analysis then maps Wave (5) to a 427.20% extension, setting a target near $10.1101.
Momentum indicators appear to support this outlook. The weekly RSI has rebounded from deeply oversold territory and continues to advance without yet reaching overbought conditions, suggesting further room for upside.
Wave 3 is expected to be the most forceful phase in the sequence, and a close above $1.5692 would confirm its onset, with targets mapped through Fibonacci extensions.
With so much hinging on precise technical levels and the ever-present impact of macro events, traders increasingly seek integrated platforms for fast decision-making. In a market where a single Fed decision or an altcoin listing can rapidly shift conditions, the inefficiency of switching between multiple apps is becoming costly. Many investors are adopting privacy-focused tools like CryptoAppsy to streamline trading, portfolio monitoring, news, and macro data—delivering all relevant information without even requiring an account setup.
Ripple announced two new partnerships targeting global financial institutions. The agreement with DriveWealth, a brokerage infrastructure providing access to US markets, aims to utilize RLUSD in the money flow behind investment transactions.
DriveWealth is integrating Ripple’s stablecoin infrastructure to use RLUSD on the XRP Ledger for settlement transactions in Europe. The service is planned to expand to the US in a later phase. Cross-border funding via Ripple Payments and digital asset custody services in Europe are also included in the collaboration.
DriveWealth’s provision of investment infrastructure to over 100 partners worldwide expands the network that the integration can reach. However, it has not been announced that all partners will start using RLUSD at the same time.
Ripple has also formed a strategic partnership with Meritz Securities, a major South Korean brokerage firm. The parties will explore the use of institutional custody and tokenization infrastructure in capital markets.
Meritz’s areas of evaluation include spot ETFs, security tokens, and won-denominated stablecoins. These are not yet publicly available products. While the two agreements expand Ripple’s institutional reach, their direct and measurable impact on the XRP price has not yet been disclosed.
*This is not investment advice.
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Evernorth Holdings has brought Ripple CEO Brad Garlinghouse on board as a strategic advisor. The Nasdaq-listed company, which trades under the ticker XRPN, has built its entire business around holding XRP.
Garlinghouse is not arriving alone. Ripple executive Stuart Alderoty and former Ripple CTO David Schwartz are also joining in advisory roles.
Who’s joining and why it matters
The appointments were made public in January 2026. According to the company, the advisors are meant to keep Evernorth closely aligned with the broader XRP ecosystem while maintaining Evernorth’s operational autonomy.
The treasury behind the ticker
Evernorth came together through a business combination with Armada Acquisition Corp. II, a special purpose acquisition company. The deal was formed in October 2025.
Through that process, Evernorth raised over $1 billion. Of that total, $200 million came from Japanese financial group SBI Holdings.
The company holds approximately 473 million XRP on its balance sheet. Those holdings were valued at approximately $648 million at the time that figure was reported.
Evernorth’s playbook has a few parts. It buys XRP on the open market, aims to generate yield through institutional strategies, and plans to participate in on-chain activity as the XRP Ledger develops.
The partnership web
To put that treasury to work, Evernorth has lined up partnerships with Ripple, Kraken, Coinbase and BitGo. The goal is to deploy its XRP into institutional strategies.
The company is also working with Doppler Finance. That collaboration is intended to strengthen liquidity and treasury management on the XRP Ledger.
Overseeing all of this is CEO Asheesh Birla, a former Ripple executive. Birla played a key role in expanding Ripple’s cross-border payments business.
Background: the rise of the crypto treasury company
Evernorth positions itself as a regulated public-market vehicle, differentiating itself from direct token investments. The company describes its focus as institutional treasury creation, blending traditional finance with crypto-native investment approaches.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
The Depository Trust & Clearing Corporation (DTCC), a leading post-trade financial services provider processing $4.7 quadrillion in securities transactions in 2025 and holding $114 trillion in custody, is advancing its tokenization initiative. The DTCC is collaborating with a consortium of more than 80 firms to develop a comprehensive tokenization service, aiming to modernize securities settlement at scale.
Key integration points: Ripple Prime, Securrency, Fireblocks, and SecuritizeCrypto researcher SMQKE identified four direct connections linking the XRP Ledger to the DTCC’s infrastructure. Each connection is enabled by a firm that already maintains an active relationship within the DTCC environment, facilitating the potential for XRP utilization across settlement and asset servicing operations.
The first path involves Ripple Prime, the institutional prime brokerage arm formed by Ripple following its acquisition of Hidden Road. Ripple combined Hidden Road with its own licensing framework to launch Ripple Prime, granting institutional clients in the United States the ability to trade XRP and RLUSD directly through the platform.
Ripple Prime stands as an official member of the DTCC’s tokenization working group, further integrating XRP into the industry’s evolving settlement infrastructure.
Secondly, the DTCC acquired Securrency, a blockchain technology specialist, and rebranded it as DTCC Digital Assets. Securrency’s protocol supports multiple distributed ledgers, including Ethereum, Stellar, and Ripple, allowing the DTCC to directly deploy solutions compatible with the XRP Ledger under its full control.
Mini dictionary: DTCC (Depository Trust & Clearing Corporation) is the world’s largest clearing and settlement service for securities, providing infrastructure for US and global financial markets.
The third integration comes from Fireblocks, a digital asset custody network that forms part of the DTCC industry working group. Research from FXC Intelligence shows the Fireblocks platform supports custody and transfer services for assets on the XRP Ledger. Through Fireblocks, institutional movement and storage of XRP-linked assets become more accessible for DTCC group participants.
Securitize, the fourth connection, has played an active role by integrating RLUSD, a Ripple-issued stablecoin, into its platform. In early June, Securitize Fund Services became the official DTCC participant listed under the Securitize name, expanding support for tokenized assets on the XRP Ledger within the DTCC framework.
DTCC’s tokenization strategy and XRP Ledger’s roleThese four avenues highlight the growing interconnectivity between the DTCC and XRP Ledger technology. Ripple Prime enables direct use of XRP for institutional clients within the DTCC working group. DTCC Digital Assets holds a protocol designed to run on XRP Ledger. Fireblocks provides custody solutions compatible with XRP. Securitize offers RLUSD integration and aligns with the XRP Ledger while operating as an official DTCC participant.
This multifaceted integration positions the XRP Ledger as a viable foundation for the DTCC’s tokenization platform, giving XRP multiple entry points for future settlement, asset issuance, and management in the financial market ecosystem.
CompanyRoleXRP Ledger ConnectionDTCC StatusRipple PrimePrime brokerageXRP/RLUSD access, institutional tradingIndustry working group memberDTCC Digital Assets (Securrency)Blockchain divisionDirect support for XRP LedgerInternal DTCC divisionFireblocksCustody networkXRP Ledger compatibleIndustry working group memberSecuritizeTokenization and fund servicesRLUSD, XRP Ledger integrationOfficial DTCC participant The convergence of Ripple Prime, DTCC Digital Assets, Fireblocks, and Securitize inside the DTCC infrastructure establishes four operational pathways for XRP adoption across US financial markets.
As the DTCC continues to advance its tokenization service, each of these firms enhances potential cross-compatibility and strengthens the overall connectivity between the XRP Ledger and the US securities infrastructure.
Evernorth has selected Ripple, Kraken, Coinbase, and BitGo to support investment strategies using its 473 million XRP treasury, with initial deployment planned for the fourth quarter of 2026.
Summary
473 million XRP forms the treasury from which Evernorth plans to deploy investment capital. Four institutional partners will support the company’s XRP accumulation and investment activities. XRP Ledger lending strategies will depend on validator activation and a proven production record. Chief investment officer Hugo Jeandesboz will oversee allocation, liquidity and counterparty relationships. Evernorth announced on Oct. 14 that it plans to generate earnings from its holdings while continuing to accumulate XRP, pursuing an increase in the number of tokens held per share.
Under the company’s announced terms, the partnership agreements remain subject to customary closing conditions and any required regulatory and corporate approvals. Evernorth described an initial institutional investment phase, followed by potential participation in lending and credit markets on the XRP Ledger.
“We’re putting our treasury to work,” founder and CEO Asheesh Birla said.
Evernorth plans institutional XRP investments before on-chain lending For the first stage, Evernorth said its investment and risk team will oversee strategies conducted through established institutional counterparties. The company selected Ripple, Kraken, Coinbase and BitGo based on their infrastructure, licenses, financial resources and experience serving public companies and asset managers.
According to the announcement, the partnerships are intended to support earnings generation with controls, reporting and counterparty standards suitable for a Nasdaq-listed business. Evernorth also plans to allocate treasury capital directly to decentralized markets once the XRP Ledger’s native lending and credit capabilities have received validator approval and demonstrated reliable operation.
Birla tied the program to the company’s goal of increasing XRP per share, saying Evernorth intends to supply capital when the ledger’s credit markets become available. The company’s announcement presents institutional investment and decentralized finance as successive parts of its treasury strategy.
The investment mandate was already outlined in Evernorth’s merger disclosures. As crypto.news reported on Oct. 10, the company’s completed Armada merger left it with approximately 473 million XRP and about $300 million in gross cash proceeds before transaction expenses.
In those disclosures, Evernorth identified tokenized assets, on-chain credit markets and settlement infrastructure as areas where it intended to provide capital. Its closing announcement named Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR among the investors supplying cash and digital assets.
Nasdaq shares provide corporate exposure to the XRP treasury With Evernorth now trading under XRPN, U.S. stock-market investors can purchase equity in the company that owns and manages the XRP holdings.
A Sep. 30 report examining the XRP treasury’s ownership structure explained that shareholders own corporate equity rather than a direct redemption right for a fixed number of XRP. According to that proxy-based analysis, the exposure behind each share also depends on outstanding shares, liabilities, financing, and transaction costs.
The same report detailed how Evernorth assembled its projected treasury through purchases and contributions. The definitive proxy identified 126,791,458 XRP contributed by Ripple, approximately 211.32 million XRP associated with the sponsor, and a separate 50 million XRP related-party contribution.
Within the proxy’s projected total, roughly 84.37 million XRP had been acquired for $214 million at an average price of approximately $2.53657 per token. Advance and delayed contribution arrangements accounted for another 800,000 XRP, according to the disclosed components.
Before the combination closed, Evernorth revised its listing timetable. An Oct. 7 report covered the company’s revised Nasdaq trading schedule after an administrative issue moved the expected closing from Oct. 7 to Oct. 9 and the planned trading debut from Oct. 8 to Oct. 12.
In its Oct. 6 update, the company said the administrative delay was not expected to prevent completion. Armada shareholders had approved the business combination at their Sep. 30 extraordinary general meeting, according to the accompanying SEC disclosure.
Jeandesboz oversees treasury allocation and trading relationships To manage the investment program, Evernorth appointed Hugo Jeandesboz as chief investment officer on Sep. 28. In an Oct. 12 announcement, the company said he reports to Birla and leads treasury allocation, liquidity management and active management of its XRP holdings.
According to the appointment release, Jeandesboz also serves as the senior contact for trading counterparties and custodians. He previously worked as co-chief investment officer at Coinbase Asset Management, where he led its Solutions business and managed tailored investment strategies for institutional clients.
Before that role, the company said, he was Coinbase’s lead derivatives trader, covering options, futures and on-chain markets. His earlier experience included interest-rate derivatives trading at HSBC in New York and fixed-income and quantitative trading roles at Société Générale.
In the partnership announcement, Jeandesboz said the four selected firms satisfy Evernorth’s counterparty requirements and that the same risk discipline would govern future on-chain investments.
Convertible financing permits further XRP purchases Separate financing documents also provide for capital that can support token purchases. A Sep. 21 report detailed Evernorth’s convertible debt financing terms, covering an agreement to issue $30 million in senior unsecured notes with a 4% annual payment-in-kind interest rate.
According to the SEC-filed agreement, Evernorth signed the purchase arrangement on Sep. 11 with NH Investment & Securities, acting as trustee for Kyobo AIM Corporate Finance General Private Investment Trust No. 3. Issuance and payment were scheduled to occur alongside completion of the business combination.
The disclosed permitted uses include general corporate purposes, XRP purchases and activities within the XRP ecosystem. Under the financing terms, interest is added to principal and compounds semiannually, with maturity scheduled for 2031 unless the notes are converted, redeemed, or repurchased earlier.
Holders receive conversion rights beginning one year after the effectiveness date, according to the agreement. The initial rate is 98.03921 Class A shares per $1,000 of principal, equivalent to approximately $10.20 per share.
The XRP Ledger has set a new transaction record after processing 4,416 transactions in a single ledger close on October 10, marking the highest number ever seen for one closure since the network’s launch.
Trust Set transactions drive the milestoneValidator Vet, known as @Vet_X0 in the XRP community, disclosed that ledger #107,569,561 achieved this record. The majority of transactions in this ledger consisted of Trust Set operations, a mechanism that allows accounts to hold and transfer assets beyond native XRP.
Of the 4,416 transactions closed, 4,305 were categorized as Trust Set, accounting for approximately 97.5% of the total. Payments comprised 1.6%, with other types—Offer Creates, Offer Cancels, NFToken Create Offers, and miscellaneous categories—making up the remaining 0.9%.
The ledger closure involved just 75 unique active accounts, during which a total of 3,530.81 XRP was moved. The process resulted in a burned fee of 0.113775 XRP across all transactions.
With a 99% transaction success rate, the ledger recorded 4,374 successful efforts and only 42 failures. The high volume, dominated by trustline creation activity, suggests a significant wave of onboarding and interaction within the ledger’s tokenization system.
Of the 4,416 total transactions in ledger #107,569,561, Trust Set operations reached 4,305, making up 97.5% of the activity in this record-setting block.
Mini dictionary: Trustlines are connections within the XRP Ledger that enable accounts to hold and transact in assets other than XRP, serving as a core element for tokenization and decentralized exchanges on the network.
Network performance and capacityThis record demonstrates the scalability and efficiency of the XRP Ledger, known for its swift settlement and low fees. The network finalized 4,416 transactions in a closure window that typically lasts between three and five seconds, highlighting its ability to handle high transaction throughput without strain.
Despite the surge in activity, the minimal fees burned and the 99% success rate confirm that the ledger maintained stability and efficiency throughout the event. Fee escalation—a system embedded in the ledger to raise transaction costs during periods of heavy demand—did not lead to significant cost increases during this window, keeping user costs low.
MetricLedger #107,569,561Total transactions4,416Trust Set transactions4,305Unique active accounts75Total XRP volume moved3,530.81 XRPFees burned0.113775 XRPSuccess rate99%Community discussion and analysisThe milestone prompted considerable discussion within the XRP community. Several participants highlighted that over 4,300 new trustlines set in a single ledger marked substantial ecosystem engagement and onboarding. Some observers raised questions about the mechanics of fee escalation during periods of heightened activity, speculating that many transactions originated from a limited pool of wallets possibly operated by automated bots sending small-value amounts.
Community members described the event as impressive, noting that the network’s capacity for growth remains robust following this achievement. The efficient handling of this transaction volume with minimal disruption reinforced confidence in the XRP Ledger’s future scalability.
Processing 4,416 transactions in just one ledger close, nearly all trustline creations, illustrates the XRP Ledger’s ongoing ability to accommodate major activity surges with minimal cost and rapid settlement.
Chinese authorities are seeking to confiscate approximately $5 billion worth of Bitcoin (BTC), alongside millions of XRP and Dogecoin (DOGE) tokens, in connection with one of the largest cryptocurrency fraud cases in history.
According to an October 14 report by Chinese media outlet The Paper, the Tianjin No. 2 Intermediate People's Court has accepted a confiscation application involving crypto assets seized from convicted money launderer Qian Zhimin.
The court announced on October 13 that it had formally accepted the application on September 28. Chinese prosecutors are seeking to recover 61,896.41552945 BTC, worth roughly $5 billion at recent market prices, alongside several other cryptocurrencies.
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The application also covers cash denominated in U.S. dollars, euros and British pounds, as well as jewelry, bank deposits and investment portfolios.
Notably, the DOGE holdings have reportedly already been converted into cash by British judicial authorities and deposited into an interest-bearing account.
Massive $6 billion crypto fraudThe confiscation proceedings stem from a massive investment fraud scheme allegedly orchestrated by Qian through Tianjin Lantian Gerui Electronic Technology.
Between April 2014 and August 2017, the company illegally raised approximately 40.38 billion yuan (roughly $6 billion) by selling fraudulent investment products that promised substantial returns.
According to Chinese prosecutors, the scheme affected more than 102,000 investors, who suffered combined losses of approximately 19.98 billion yuan.
Much of the money was used to repay existing investors, operate fraudulent investment projects and purchase assets, including Bitcoin, real estate, vehicles and jewelry.
Qian fled China in 2017, eventually arriving in the United Kingdom, where British authorities subsequently seized her cryptocurrency holdings.
In November 2025, she was sentenced to 11 years and eight months in prison by a British court for money laundering offenses.
What happens to seized Bitcoin?The latest development comes as British courts are also considering the legal ownership of the massive Bitcoin fortune.
On October 12, the UK's High Court ruled that Chinese law should govern claims made by victims seeking to recover the seized cryptocurrency.
The decision could have major implications for whether investors are entitled to the original value of their losses or potentially benefit from Bitcoin's substantial appreciation since the fraud took place.
However, the British ruling does not establish final ownership of the assets. Further proceedings will determine whether the victims can demonstrate enforceable rights to the cryptocurrency.
Meanwhile, the Chinese court has opened a six-month period during which Qian's relatives and other interested parties, including affected investors, can participate in the confiscation proceedings.
Chinese authorities are moving to seize around $5 billion worth of Bitcoin, together with significant holdings in XRP and Dogecoin, in a case tied to one of the largest ever cryptocurrency frauds.
Tianjin court targets crypto assets in landmark fraud caseThe Tianjin No. 2 Intermediate People’s Court recently accepted a confiscation request connected to Qian Zhimin, a convicted money launderer accused of orchestrating a massive investment fraud using Tianjin Lantian Gerui Electronic Technology.
The court confirmed it formally accepted the application on September 28. Prosecutors are pursuing 61,896.41552945 BTC, which is valued at approximately $5 billion at current market prices, in addition to millions in XRP and other digital assets.
The application extends beyond cryptocurrencies and includes physical cash in US dollars, euros, and British pounds, as well as assets such as jewelry, domestic and foreign bank deposits, and various investment portfolios.
British authorities have already liquidated the Dogecoin holdings, converting them to cash and transferring the proceeds to an account accruing interest.
The confiscation process is based on allegations that Qian raised about 40.38 billion yuan, equivalent to nearly $6 billion, between April 2014 and August 2017 through fraudulent investment products. These products, marketed by her technology firm, promised investors unusually high returns.
Prosecutors reported that the investment scheme affected over 102,000 individuals, whose losses reached roughly 19.98 billion yuan due to the company’s illegal fundraising activities.
The funds were used to repay prior investors, finance yet more sham investment products, and acquire luxury goods, real estate, vehicles, and large quantities of Bitcoin.
Qian left China in 2017 and eventually arrived in the United Kingdom, where officials seized her digital assets.
In November 2025, a British court sentenced Qian to 11 years and eight months in prison on money laundering charges.
Legal battle over seized Bitcoin intensifiesAs part of the legal aftermath, the fate of the seized Bitcoin remains uncertain. The UK’s High Court recently determined that Chinese law should govern claims to the cryptocurrency made by the fraud’s victims.
This legal decision carries significant weight for the victims, as it could determine whether they are eligible for compensation based on the value of their original losses or whether they might receive a share of Bitcoin’s considerable price gains over the intervening years.
The UK High Court ruled that claims from affected investors must be evaluated under Chinese law, which may impact the way any compensation is calculated.
Despite this step, the British court has not yet decided on the final ownership of the assets. Additional proceedings are scheduled to determine whether victims can prove legally enforceable rights to the cryptocurrency holdings.
Meanwhile, the Tianjin court opened a six-month window allowing Qian’s relatives and other stakeholders, including investors who were harmed by the fraud, to participate in the ongoing confiscation process.
Mini dictionary: Tianjin Lantian Gerui Electronic Technology, a Chinese technology company used as a vehicle by Qian Zhimin for orchestrating large-scale fraudulent investment activities between 2014 and 2017.
Ethereum is holding steady close to $2,500 following recent volatility, with the latest market action marked by a shift in institutional flows and a surge in derivatives positioning. ETH is currently trading at approximately $2,511, reflecting a marginal daily increase of 0.08%. The price has fluctuated in a narrow band between $2,490 and $2,530 during the latest session.
Fractal pattern and potential for upsideTechnical analysts are tracking the similarities between Ethereum’s current structure and the setup that preceded its major rally in 2025. The coin previously consolidated around the mid-$2,000 range before briefly falling below support, only to recover sharply and enter a stronger upward trend.
Crypto analyst Ash Crypto is drawing attention to a comparable sequence forming today, where ETH recently dipped towards the $2,400–$2,300 area. This zone is now seen as a critical support region that could define whether the recent selloff marks a temporary liquidity event rather than a sustained slide.
In the 2025 cycle, Ethereum’s recovery did not move straight to the highs. The price initially cleared $3,000 and then consolidated in the $3,000s before a later move toward $4,800. If ETH can stabilize at current levels, analysts believe a similar trajectory could bring the $4,600–$4,800 zone into focus in the coming months.
The bullish outlook is dependent on Ethereum holding the $2,400–$2,500 support. If this base remains firm and price reclaims $2,600, analysts view $3,000 as the next major target, while a move below support may signal the need for further consolidation.
For now, the fractal comparison remains conditional. A sustainable recovery above $2,500 would add weight to the bullish thesis, whereas further losses below the recent low could undermine this setup and delay a larger move higher.
Bitfinex longs reach multi-year peakData from Bitfinex, a leading cryptocurrency exchange founded in 2012 and known for its large-scale derivatives trading, shows that Ethereum long positions have climbed to their highest level in four years. According to Crypto Rover, these positions have increased sharply as price hovers near $2,500, indicating strong conviction among traders preparing for a significant breakout.
Rather than waiting for a confirmed rally, market participants are building long exposure during the consolidation phase, suggesting confidence in a potential larger move if resistance is cleared.
The acceleration of long positioning stands out compared to previous periods, signaling that traders are willing to commit aggressively to an upside scenario. Sustained support above $2,400–$2,500 could drive further momentum in the next uptrend attempt.
ETF inflows recover after sustained outflowsEthereum ETFs in the United States have returned to positive territory after several sessions of heavy outflows. On October 13, net inflows reached approximately $24.84 million, breaking a streak of 10 consecutive trading sessions of withdrawals.
Of this total, Grayscale’s mini Ethereum ETF contributed about $16.73 million, while Fidelity’s FETH added $8.11 million. This shift is notable, following a previous session with roughly $85.43 million in outflows and a five-day withdrawal sum near $576.9 million.
If institutional demand for Ethereum ETFs continues to recover and ETH remains above $2,500, analysts believe these inflows could provide increased support for a potential rebound.
ETF providerNet inflow (Oct 13)Grayscale mini ETH ETF$16.73 millionFidelity FETH$8.11 millionTotal (all ETH ETFs)$24.84 millionWhale traders show caution despite improvementDespite the positive trends in other data, some large traders remain cautious. Ethereum’s Whale vs Retail Delta, a metric tracking the difference between larger and smaller trader positions, continues to register below zero. This suggests whales still hold more short exposure than retail investors.
CW8900, a crypto market data provider, reports that the imbalance has improved from deeper negative levels seen throughout September. Whale short positions have decreased, although these participants have not fully shifted to a bullish stance.
This cautious posture explains why ETH is still consolidating near $2,500 even as ETF inflows and long positioning improve. A further move upward in the Whale vs Retail Delta, especially with price surging through $2,550–$2,600, would be seen as a signal of growing confidence among larger market players.
Mini dictionary: Whale vs Retail Delta – A metric used to measure the difference in net positions between large traders (“whales”) and retail investors in crypto derivatives markets. A negative value reflects higher short exposure among whales relative to smaller investors.
Key price levels and outlookThe $2,400–$2,500 price area has emerged as Ethereum’s main support. A decisive move above $2,600 could strengthen the bullish case and bring $2,700 back into focus. If this momentum continues, the $3,000 level becomes the next target for traders and analysts tracking historical price patterns.
Bullish traders are watching for a move above $2,600, which could open further upside toward $3,000. Any failure to hold $2,400 support may trigger renewed selling and a deeper reset.
The situation remains fluid, with further gains requiring both increased spot demand and continued flows into ETFs. Conversely, a return of significant short exposure from whales or renewed outflows from ETFs could undermine the recent improvements and delay a full recovery.
The recent crypto market movement appears to be triggering the awakening of dormant crypto assets, including Ethereum held for many years.
While the crypto market is currently showing mixed signals, a major move from an early Ethereum investor has drawn attention from the crypto community.
Ethereum OG may be taking profitBlockchain monitoring platform Lookonchain has shared data earlier today, revealing that an early Ethereum holder has been spotted moving 6,369 ETH, worth $15.95 million, to Kraken.
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What makes the transaction more interesting is that the Ethereum holder had reportedly bought the asset at around $14 nine years ago.
While its recent Ethereum sales were valued at around $15.95 million, the investor's holdings have appreciated by about $15.86 million considering their cost value.
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While the price of Ethereum has accelerated massively over the years, the sale marks a substantial gain of about 17,786% in nine years.
Apparently, this means that the investor's initial capital has grown by nearly 179 times over the nine-year period, highlighting Ethereum's remarkable growth over the years.
Ethereum falls below $2,500Although the transaction has come at a time when Ethereum is facing downside pressure, trading below the key $2,500 mark, the Ethereum investor had still secured substantial profits due to the longevity of the asset.
Nonetheless, it is not certain whether the move could impact Ethereum's price potential, even though it could add to the supply of ETH available.
This presents a bearish outlook for the asset, especially at a time like this. However, it remains uncertain whether the investor was only redistributing their holdings or selling.
Ethereum staking has long had a cover charge. Myrmidon Staking is trying to lower it to roughly the price of a nice lunch.
The Denmark-based validator operator has launched the Myrmidon Staking ETH Pool, a pooled staking product built on Lido V3 stVaults. Users can stake with as little as 0.01 ETH. The product went live on October 14, 2026, and Lido itself promoted the launch.
What Myrmidon is actually offering
The pool runs on Lido’s stVaults, the modular staking infrastructure introduced with Lido V3. Myrmidon also uses Lido’s DeFi Wrapper toolkit, which is designed for pooled delegated staking setups.
The economics are straightforward. Myrmidon charges a node operator fee of 10% on staking rewards. Stakers keep the rest of what their ETH earns, and the fee only applies to rewards, not to the principal deposited.
The pool also carries a reserve ratio of 50%, one of the configurable risk settings within the stVaults framework.
Myrmidon has set a modest goal: 1,000 ETH staked in the new pool within 12 months of launch.
For those who want to go directly, the pool’s staking address, 0x456…409322, is listed on lido.fi.
The operator behind the pool
Myrmidon has run Ethereum validators since 2023 and reports a zero slashing record over that stretch. At its peak, Myrmidon’s validator operation managed approximately 1,200 ETH.
The company has also collected some credentials along the way. It received stVaults Professional Operator status from Lido, a designation meant to signal that an operator meets the protocol’s standards for running vaults. Myrmidon was also the first live pool using Northstake SVM.
How Lido V3 set the stage
This launch is a downstream product of a bigger architectural shift at Lido. Lido V3 hit mainnet on January 30, 2026, introducing a modular design that lets third parties build customized staking products on top of Lido’s infrastructure. Operators can now design their own vaults with their own fees, risk settings and target audiences, while still plugging into Lido’s tooling.
Roughly nine months separate the V3 mainnet launch from Myrmidon’s pool going live.
What this means for stakers and the staking market
For smaller ETH holders, the most obvious change is the entry price. A 0.01 ETH minimum means people who were previously priced out of running a validator now have another option with a named operator and a track record attached.
The fee structure deserves a closer look. A 10% cut of rewards is the main cost stakers pay for not running their own hardware. Users should also understand how the 50% reserve ratio and the DeFi Wrapper mechanics affect their position before depositing.
There are still risks worth naming. Pooled staking concentrates trust in the operator and in the smart contracts underpinning the vault. A spotless slashing history is encouraging, but it describes the past, not a guarantee about the future.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
An early Ethereum holder has moved 6,369 ETH, valued at $15.95 million, to prominent exchange Kraken, in a transaction that has drawn significant attention within the crypto community.
Major profit realized after nine yearsBlockchain monitoring platform Lookonchain reported that the investor originally purchased the ETH nearly nine years ago at an average price of $14. This latest transfer signifies that the initial investment of approximately $89,166 has appreciated by about $15.86 million over the holding period.
This remarkable increase translates to a gain of approximately 17,786%, or nearly 179 times the original capital. Such returns underscore Ethereum’s impressive growth since its early days, as the asset has transformed from a speculative project to a mainstay of the digital asset market.
The Ethereum investor’s move represents a substantial profit of about $15.86 million, realized by holding the asset for nearly a decade through periods of significant volatility.
Market conditions and price impactThe move comes as Ethereum trades below the key resistance level of $2,500, facing sustained downside pressure. Despite this correction, long-term holders like this early investor remain in deep profit, reflecting the resilience and upward trajectory of Ethereum’s price over the years.
Currently, there is uncertainty within the market regarding the implications of this transfer. It is not clear whether the investor is planning to fully liquidate their assets or simply redistribute funds between addresses. However, large inflows of ETH to exchanges are typically monitored closely by traders for potential effects on price action and liquidity.
Activity in meme tokens highlights market trendsMeanwhile, the cryptocurrency market continues to see explosive activity in the meme token segment, where internet-driven trends can quickly attract substantial capital. For example, Fomo App data shows that a well-timed investment of $99 in “Niu Lai” generated approximately $370,000 in returns, illustrating both the volatility and opportunity present in this space. In such a fast-moving environment, it is essential for traders to track not only price fluctuations but also the specific timing and selection of tokens by active investors.
Fomo App facilitates this process by integrating token discovery, trade activity monitoring, and real-time social feeds into one unified platform. With features such as investor rankings and trade alerts, market participants can keep pace with rapidly emerging trends and monitor high-performing meme coins as shifts occur.
As both established cryptocurrencies like Ethereum and surging meme tokens draw renewed attention, investors are focusing on technical patterns and market developments that may indicate broader sentiment shifts or trigger key price movements.
Large transactions from early holders and the emergence of high-return meme coin trades highlight a dynamic crypto landscape, where tracking investor behavior and market timing has become increasingly important.
The recent transaction by the early Ethereum holder reflects the scale of long-term gains possible within crypto and underscores why ongoing monitoring of on-chain activity remains a critical component for market participants navigating both legacy and nascent digital assets.
Ethereum holds the largest market cap in the tokenized ETF market, at $303 million, according to data shared on X.
The numbers behind Ethereum’s lead
Think of a tokenized ETF as a digital receipt for a share of a regular fund. The token lives on a blockchain, while the underlying asset sits with an issuer that backs it.
The practical upshot: you can hold and move fund exposure the way you’d move any crypto token, including outside normal market hours.
Ethereum’s dominance in this niche has been consistent, though not static. Research tracking the sector shows Ethereum commanded approximately 74% of the tokenized ETF market in May 2026, worth roughly $321 million.
By July, its share had slipped to about 62%, even as its value rose to approximately $326 million. In August 2026, Ethereum held 52.5% of the market, with a market cap of roughly $335 million.
The $303 million figure now attached to Ethereum sits below that August level. It still keeps the network in first place.
The total tokenized ETF market grew quickly over the same period. It stood at approximately $297.5 million at the end of Q1 2026 and reached $639 million by August 2026.
Ondo, BlackRock and the issuers doing the heavy lifting
Much of Ethereum’s position traces back to one issuer. Ondo Finance is the leading tokenized ETF issuer on Ethereum and accounts for a substantial portion of the network’s market share.
Ondo’s products are 1:1 backed tokenized ETFs and stocks that trade around the clock.
The research attributes much of the overall market’s growth to aggressive product deployment by issuers like Ondo.
BlackRock and Franklin Templeton have partnered to launch tokenized offerings in this space.
Rivals are gaining ground next door
Ethereum’s lead in tokenized ETFs specifically looks less commanding when you zoom out to the broader category of tokenized stocks and ETFs combined.
By early October 2026, that wider market had reached approximately $3.7 billion. BNB Chain led with roughly $1.1 billion, ahead of Ethereum at about $828 million and Solana at approximately $738 million.
Several tokenized stock products on Solana and BNB Chain threaten to erode Ethereum’s dominance in specific segments.
A rounding error next to traditional ETFs
The traditional ETF industry is valued at over $23 trillion. The entire tokenized ETF market represents roughly 0.003% of that.
What this means
For Ethereum, the takeaway is that first place is not the same as a moat. Its share fell from approximately 74% in May to 52.5% in August, a slide of more than 20 percentage points during a period of rapid market expansion.
The research suggests maintaining the lead may require continued adaptation and possibly new strategic partnerships to fend off BNB Chain and Solana.
Because Ondo Finance drives a large share of Ethereum’s tokenized ETF value, decisions about where Ondo and similar issuers deploy new products will shape the rankings.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
In brief
Standard Chartered launched direct Bitcoin and Ethereum trading for affluent UAE clients on Wednesday after receiving licensing approval from Dubai's Virtual Assets Regulatory Authority.
Eligible Professional Investor clients can buy and sell BTC and ETH through their existing bank accounts, with the bank handling custody and settlement in a closed-loop model built with SC Ventures-backed Zodia Markets.
The bank called the service a global first for Standard Chartered and plans to expand it to other markets, though it gave no timeline.
Standard Chartered will now let its wealthier clients in the United Arab Emirates buy and sell Bitcoin and Ethereum straight from their bank accounts, the British lender announced Wednesday.
The move eliminates the need for its affluent clients to rely on separate wallets or third-party platforms, the bank said.
Myriad: Where does Ethereum go next? Click to make your prediction.The service opens first to clients classified as Professional Investors and runs under licensing approval from Dubai's Virtual Assets Regulatory Authority, or VARA. The bank called it a global first for Standard Chartered and the first crypto trading offering from an international bank in the UAE.
Trades are executed inside the bank's own ecosystem, and Standard Chartered handles custody and settlement end-to-end through what it calls a closed-loop model, which the bank says reduces clients' exposure to third-party wallet risk.
The bank built the product across its Wealth and Retail Banking and Corporate and Investment Banking units, working with Zodia Markets, a digital asset trading firm backed by Standard Chartered's venture arm, SC Ventures.
“As client interest in digital assets continues to grow, this launch represents a significant milestone for Standard Chartered as we bring digital assets into our core wealth offering” Samir Subberwal, the bank's global head of wealth solutions, retail products, data and analytics, said. He argued that clients now want more than access, and are looking for the security that comes with buying through a regulated institution.
Rola Abu Manneh, Standard Chartered's CEO for the UAE, Middle East and Pakistan, said the country was a natural choice given its regulatory environment and its role as one of the bank's four global wealth hubs.
Until now, Standard Chartered's crypto trading business had catered to institutions. In July 2025, it became the first global systemically important bank—one of the lenders regulators consider too big to fail—to offer spot trading in Bitcoin and Ethereum to institutional clients, through its U.K. branch.
It brought that institutional desk to the UAE last month through its unit in the Dubai International Financial Centre, which is overseen by a different watchdog, the Dubai Financial Services Authority. The bank's crypto custody service had already gone live in the UAE in September 2024, and in the European Union through a Luxembourg entity a few months later.
Wealth clients previously had indirect routes into crypto at the bank: crypto exchange-traded funds on its cash equities platform, structured products, and over-the-counter derivatives tied to crypto prices. The new service lets them own the coins themselves, held by the bank, rather than a product that tracks their price.
The bank has historically been very bullish towards crypto, with frequent calls from its analysts for Bitcoin to extend to new highs.
In June, Geoff Kendrick, Standard Chartered's global head of digital asset research, declared crypto winter over after Bitcoin slid to nearly $59,000, a 53% drop from its October 2025 peak of $126,000. The bank has held onto a $100,000 year-end target for BTC.
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In brief
Standard Chartered launched direct Bitcoin and Ethereum trading for affluent UAE clients on Wednesday after receiving licensing approval from Dubai's Virtual Assets Regulatory Authority.
Eligible Professional Investor clients can buy and sell BTC and ETH through their existing bank accounts, with the bank handling custody and settlement in a closed-loop model built with SC Ventures-backed Zodia Markets.
The bank called the service a global first for Standard Chartered and plans to expand it to other markets, though it gave no timeline.
Standard Chartered will now let its wealthier clients in the United Arab Emirates buy and sell Bitcoin and Ethereum straight from their bank accounts, the British lender announced Wednesday.
The move eliminates the need for its affluent clients to rely on separate wallets or third-party platforms, the bank said.
Myriad: Where does Ethereum go next? Click to make your prediction.The service opens first to clients classified as Professional Investors and runs under licensing approval from Dubai's Virtual Assets Regulatory Authority, or VARA. The bank called it a global first for Standard Chartered and the first crypto trading offering from an international bank in the UAE.
Trades are executed inside the bank's own ecosystem, and Standard Chartered handles custody and settlement end-to-end through what it calls a closed-loop model, which the bank says reduces clients' exposure to third-party wallet risk.
The bank built the product across its Wealth and Retail Banking and Corporate and Investment Banking units, working with Zodia Markets, a digital asset trading firm backed by Standard Chartered's venture arm, SC Ventures.
“As client interest in digital assets continues to grow, this launch represents a significant milestone for Standard Chartered as we bring digital assets into our core wealth offering” Samir Subberwal, the bank's global head of wealth solutions, retail products, data and analytics, said. He argued that clients now want more than access, and are looking for the security that comes with buying through a regulated institution.
Rola Abu Manneh, Standard Chartered's CEO for the UAE, Middle East and Pakistan, said the country was a natural choice given its regulatory environment and its role as one of the bank's four global wealth hubs.
Until now, Standard Chartered's crypto trading business had catered to institutions. In July 2025, it became the first global systemically important bank—one of the lenders regulators consider too big to fail—to offer spot trading in Bitcoin and Ethereum to institutional clients, through its U.K. branch.
It brought that institutional desk to the UAE last month through its unit in the Dubai International Financial Centre, which is overseen by a different watchdog, the Dubai Financial Services Authority. The bank's crypto custody service had already gone live in the UAE in September 2024, and in the European Union through a Luxembourg entity a few months later.
Wealth clients previously had indirect routes into crypto at the bank: crypto exchange-traded funds on its cash equities platform, structured products, and over-the-counter derivatives tied to crypto prices. The new service lets them own the coins themselves, held by the bank, rather than a product that tracks their price.
The bank has historically been very bullish towards crypto, with frequent calls from its analysts for Bitcoin to extend to new highs.
In June, Geoff Kendrick, Standard Chartered's global head of digital asset research, declared crypto winter over after Bitcoin slid to nearly $59,000, a 53% drop from its October 2025 peak of $126,000. The bank has held onto a $100,000 year-end target for BTC.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Join 72,000+ readers
Create an account to save your articles.
Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.
An old Ethereum address transferred 6369 ETH to Kraken after acquiring these tokens around 14 dollars nine years ago. Their value now reaches nearly 16 million dollars, but the reported yield of 17786% will only be actually cashed if the assets are sold.
In brief
An Ethereum whale transferred 6369 ETH to Kraken, for a value close to 16 million dollars.
Bought around 14 dollars nine years ago, these ETH show a potential gain of 17786%.
This transfer does not necessarily mean that the investor sold their cryptocurrencies and cashed in their gains.
The movements of these historic holders attract attention, but their impact on the Ethereum price remains limited at this stage.
The 6369 ETH were transferred to Kraken
The wallet tracked by Lookonchain deposited 6369 ETH on the Kraken platform on October 14. At the time of the transfer, the tokens were worth around 15.95 million dollars, based on a price near 2504 dollars per ether.
The address is said to have acquired these ETH nine years ago for an average price of only 14 dollars. The initial cost of the position can therefore be estimated at about 89166 dollars.
The ratio between the current value and the initial capital reaches nearly 179. After deducting the initial investment, the potential gain approaches 15.86 million dollars, or about 17786%.
This calculation shows the extent of Ethereum’s appreciation since 2017. However, it depends on two assumptions: the address actually bought the tokens at the indicated price and their owner can sell them near the price used for the estimate.
The public blockchain data allow transfers between wallets to be tracked. They do not always identify with certainty the person, company, or group that controls an address.
A deposit on an exchange does not prove a sale
Sending tokens to a centralized platform generally constitutes a potential selling signal. Investors often transfer their cryptos to an exchange to convert them into dollars, stablecoins, or other assets.
However, this operation does not demonstrate that the 6369 ETH have already been sold. Their holder can keep them on Kraken, use them as collateral, stake them, or execute an over-the-counter transaction.
The yield of 17786% remains therefore theoretical as long as no sale is visible or confirmed. If the investor gradually sells their ETH at a lower price, their final gain will be lower. An additional increase would have the opposite effect.
The figure also does not take into account possible transaction fees, Kraken commissions, and taxes applicable to the holder. These costs would remain low compared to the gain, but they prevent considering the estimate as a net profit.
It is therefore appropriate to speak of a potential gain or unrealized capital gain at the time of the deposit, and not of a definitively cashed profit.
The first ETH holders take their profits
This transaction joins several movements observed among early Ethereum investors. At the end of September, another address inactive for nearly nine years had begun selling a position acquired in 2017.
This wallet had bought 3000 ETH at an average price of 18.80 dollars, for an initial investment of 56500 dollars. It then sold 2000 tokens around 3096 dollars on average and kept the remaining 1000 ETH.
In January, an address inactive for nine years also transferred 135284 ETH to Gemini. These tokens, accumulated around 70 to 90 dollars, were worth nearly 397 million dollars at the time of their movement.
These sales do not necessarily constitute a collective bearish signal. Historic holders can secure part of their gains after several years without questioning their confidence in the network.
Their very low acquisition price also allows them to sell with a significant capital gain, even when ETH is far from its historical peak.
Selling pressure the market must absorb
Ethereum trades around 2500 dollars after briefly hitting nearly 2400 dollars this week. The token remains weakened by outflows from certain ETFs, the decline of the ETH/BTC ratio, and general caution on risky assets.
A sale of 6369 ETH represents about 0.005% of the network’s total supply. This volume remains modest on the scale of Ethereum and should not, by itself, sustainably change the price.
The impact mainly depends on the method used. An immediate sale on the order book exerts more pressure than a split operation or an over-the-counter deal with an institutional buyer.
Whale movements attract attention because they can indicate a change in behavior among long-term holders. However, a single wallet is not enough to establish a general trend.
This transaction mainly illustrates the performance realized by some early investors. It also reminds us of an essential nuance: the blockchain confirms the movement of ETH, but not the identity of their owner nor the definitive realization of the reported gain.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The market is continuing to bet heavily on the potential altseason.
Technically, the setup looks more and more interesting. Following the ETH/BTC 20% rally in Q3, traders are already positioning for another move higher in Q4, with early accumulation signs starting to show.
However, Bitcoin dominance has broken over 60%, indicating that capital is still flowing towards the flagship crypto, which makes a general altcoin breakout not so certain for now.
And yet, Lookonchain spotted a big whale rotation in the last three days. The whale sold 1,074.36 BTC equal to $89.5 million and bought 36,159 ETH.
Naturally, the question becomes: Is this whale positioning ahead of a potential Ethereum rally, with the border market now catching up to the hype?
Source: X
From an on-chain perspective, this does seem to be the case.
According to Santiment data, Ethereum FOMO is growing, with ETH rapidly becoming a favorite among bulls. On X, Reddit, and Telegram, ETH is registering 2.05 bullish comments for every bearish comment.
Bitcoin is the opposite, with 0.82 bullish comments per bearish comment. Rejected levels around $87k, a slide toward $81k, heavy liquidation of long positions, and macro pressure have pushed sentiment toward fear.
Notably, this shift is also seen in the derivatives market. As the post above highlights, ETH/BTC longs are going parabolic as Bitfinex traders are increasingly betting on Ethereum [ETH] to outperform Bitcoin [BTC].
In short, traders are positioning for an ETH-led rally, potentially hinting at an early rotation into altcoins.
Ethereum hype builds as USDT borrowing against Bitcoin jumps
The timing of this rotation between BTC and ETH is crucial.
An analyst recently reported that $6 billion in USDC had been minted this month, adding fresh liquidity to the crypto market. However, with BTC dominance of over 60%, it appears that Bitcoin is still gathering the most capital.
However, according to data from CryptoQuant, this may be about to change.
As the chart below shows, the amount of USDT borrowed by users who hold $10 million or more in BTC has jumped by 83% last month. This suggests that whales have used their BTC as collateral to unlock funds and buy more crypto. In short, risk appetite may soon be on the rise.
Source: CryptoQuant
This is where on-chain signals start to converge. Whale rotation is picking up, ETH longs are increasing, and ETH/BTC gained 20% in Q3.
Now, with USDT borrowing against BTC jumping 83%, traders could be positioning for another Ethereum/Bitcoin rally and a subsequent rotation into altcoins in Q4.
Final Summary
USDT borrowing against BTC jumped 83%, hinting at rising risk appetite.
ETH/BTC’s 20% Q3 rally could set the stage for an altcoin rotation.
On-chain finance continues to draw capital at a steady clip, and the latest weekly figures from Token Terminal illustrate a clear split in where that money is landing.
Real-world assets (RWAs)—tokenized versions of funds, U.S. Treasury bills, credit products, equities, and commodities—showed concentrated growth on Ethereum, while stablecoins, the dollar-pegged instruments that serve as the primary settlement and trading layer for most crypto activity, saw their largest single-week addition on Tron.
According to the data, the circulating market capitalization of RWAs issued or hosted on Ethereum rose by $553.1 million over the trailing seven days.
That single-chain increase outpaced the next two gainers by a wide margin. zkSync Era recorded the second-largest expansion at $126.1 million, while BNB Chain added $68.7 million.
Ethereum’s weekly gain was therefore more than four times larger than the runner-up, reinforcing the network’s longstanding position as the primary venue for tokenized traditional assets.
This concentration is consistent with Ethereum’s broader role in the sector. Institutional issuers and asset managers have repeatedly chosen the chain for its liquidity depth, established custody solutions, and the ability to compose tokenized products with existing decentralized-finance infrastructure.
Even as other networks post incremental gains, the absolute scale of capital flowing onto Ethereum in any given week tends to remain larger, particularly when the inflows involve regulated or semi-regulated instruments such as tokenized money-market funds and Treasury products.
The $553.1 million figure represents fresh issuance or net inflows rather than pure price appreciation of already-deployed tokens, underscoring ongoing demand for on-chain representations of off-chain yield and collateral.In parallel, the stablecoin market posted a distinct pattern of growth.
Tron’s stablecoin market capitalization expanded by $633.6 million during the same seven-day window.
The next largest increases were substantially smaller: OP Mainnet rose by $64.1 million, X Layer by $61.9 million, and Base by $57.8 million.
Tron’s addition was nearly ten times the size of the second-place chain, highlighting the network’s continued dominance in low-cost dollar transfers, especially those involving Tether’s USDT.
Tron’s advantage stems from a combination of near-zero fees for stablecoin transfers, high throughput, and deep integration with payment and remittance use cases across emerging markets.
A large share of USDT supply already resides on the chain, and weekly expansions of this magnitude typically reflect both new minting and net migration of balances from higher-cost environments.
While Ethereum still holds the overall lead in total stablecoin value, the incremental flows continue to favor Tron when the priority is speed and cost rather than composability with complex DeFi strategies.
The two data points illustrate complementary rather than competing dynamics. Ethereum remains the preferred settlement and issuance layer for higher-value, institutionally oriented RWA products whose weekly growth can exceed half a billion dollars.
Tron, by contrast, continues to absorb the bulk of retail and payments-oriented stablecoin activity, with single-week additions that can surpass $600 million and dwarf those of other Layer-2 and alternative networks.
Both trends contribute to the same underlying development: an expanding share of traditional and digital dollar financial activity is occurring on public blockchains, tracked and standardized by platforms such as Token Terminal.
Market participants will watch whether these weekly patterns persist as new RWA products launch and as stablecoin issuers adjust supply across chains. For now, the numbers show Ethereum capturing the majority of recent tokenized-asset growth and Tron securing the clear majority of new stablecoin capitalization.
In brief
The Bank of Russia added Sberbank to its register of crypto exchange operators on October 12, six days after listing it as a digital depository.
Sberbank plans to launch its first crypto products on December 1 inside SberBank Online, SberInvestments and SberBusiness, starting with Bitcoin, Ethereum and USDT.
Retail buyers face a 300,000 ruble annual cap per intermediary and a mandatory knowledge test, and paying for goods with crypto remains illegal in Russia.
The Bank of Russia has added Sberbank to its register of organizations authorized to exchange digital currencies, clearing the country's largest lender to buy and sell crypto in its own name and with its own money. The decision was posted on the regulator's website, Russian outlet Interfax reported.
The approval landed six days after the central bank put Sberbank on its separate list of digital depositories, the firms that keep the official record of who owns which coins. Holding both statuses lets the bank sit on the other side of a client's trade and also keep the ledger of that client's holdings, without sending anyone to an outside venue.
Myriad: What will the Fed do next? Click to make your prediction.Sberbank said the depository status would let it offer crypto services in interfaces clients already use. That means SberBank Online, SberInvestments and SberBusiness, where the bank plans to start with Bitcoin, Ethereum and Tether's USDT on December 1, according to its press service.
The bank has hedged that date, saying it depends on the central bank's decisions and on the secondary regulations being ready in time. Both approvals by the Bank of Russia have now arrived, which leaves the secondary rulebook as the main variable.
Sberbank ended the second quarter with 110.6 million retail clients and 3.5 million corporate clients, per its quarterly results. Plugging crypto into that user base turns a regulated on-ramp into one more menu item inside an app those customers already use for everyday banking.
Deputy Chairman Anatoly Popov has forecast that crypto trading volumes in Russia could reach 4 trillion rubles, roughly $46 billion, in the regime's first year and 7.5 trillion rubles by 2029 or nearly $89.7 billion. The bank also plans to accept Ethereum and USDT, alongside Bitcoin, as collateral for loans once the central bank allows them into public circulation.
Under the law Putin signed in August, non-qualified investors can spend up to 300,000 rubles (about $3,800) a year per intermediary, buyers must pass a knowledge test, and the central bank's draft list of tradable coins includes only Bitcoin, Ethereum, and USDT.
In January 2022, the Bank of Russia proposed banning crypto use, mining and exchanges outright, citing threats to financial stability. Less than five years later, it is licensing the country's biggest lender to run a crypto desk. As of today, spending crypto inside Russia is still illegal, so Sberbank customers will be able to buy Bitcoin but not pay for products with it.
Firms already on the registers have until September 1, 2027, to bring their operations fully in line with the new law, the central bank said.
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The Bank of Russia has officially listed Sberbank as an authorized crypto exchange operator, enabling the country’s largest lender to purchase and sell digital assets directly using its own funds. This regulatory move, announced on October 12, follows Sberbank’s addition to the register of digital depositories just six days earlier.
Sberbank enters crypto market with new servicesWith the latest registration, Sberbank is now permitted to act as both an exchange operator and a digital depository. This dual authorization allows the bank to facilitate trades and maintain client asset records entirely within its own systems, eliminating reliance on third-party platforms.
Sberbank, founded in 1841, is the largest banking and financial services company in Russia, serving over 110 million retail customers and 3.5 million corporate clients. The bank plans to introduce its first digital asset products on December 1 through its integrated apps, which include SberBank Online, SberInvestments, and SberBusiness. The initial offering will feature trading in Bitcoin, Ethereum, and Tether (USDT).
According to Sberbank’s press service, these crypto services will be accessible to clients directly within the bank’s established digital interfaces. The December 1 rollout is contingent on finalized secondary regulations from the central bank, which are still pending.
Regulatory framework and user restrictionsRussia’s legal environment for digital currencies is evolving. President Vladimir Putin signed a law in August establishing new limits for retail crypto investors. Non-qualified individuals are restricted to spending a maximum of 300,000 rubles, approximately $3,800, per year through any single intermediary. Those wishing to participate must also pass a mandatory knowledge assessment. The current draft list of tradable digital assets is limited to Bitcoin, Ethereum, and USDT.
Despite the expanded access to crypto purchases, it remains illegal to use digital currencies for payments within Russia. As a result, Sberbank clients can buy and hold cryptocurrencies, but cannot use them directly for transactions involving goods or services.
Market impact and future growth projectionsAnatoly Popov, Deputy Chairman of Sberbank’s Management Board, has projected that the Russian crypto trading market could reach 4 trillion rubles, or about $46 billion, in its first year under the new regime. He further expects this figure to climb to 7.5 trillion rubles, roughly $89.7 billion, by 2029. Sberbank also intends to accept Ethereum and USDT, alongside Bitcoin, as collateral for loans once the Bank of Russia authorizes public circulation for these assets.
Deputy Chairman Anatoly Popov has forecast that Russian crypto trading volumes could reach 4 trillion rubles, or about $46 billion, in the first year and approach 7.5 trillion rubles, nearly $89.7 billion, by 2029.
Sberbank’s integration of crypto services represents a notable shift in Russian monetary policy. In January 2022, the Bank of Russia had proposed a ban on crypto use, mining, and exchanges, citing concerns over financial stability. The current approach signals a more regulated and structured entry into the digital asset sector by major financial institutions.
Registered crypto service providers in Russia must comply fully with new regulatory standards by September 1, 2027, as specified by the central bank.
Mini dictionary: Sberbank, founded in 1841, is Russia’s largest lender and a key player in the country’s banking and financial sector, with a vast network of clients and digital services.
AssetAvailable for Trading?Can be Used for Payments?Investor LimitBitcoinYesNo300,000 rubles/yearEthereumYesNo300,000 rubles/yearUSDTYesNo300,000 rubles/year
Bitcoin holds near $81,500 after falling 2% over the past 24 hours as hotter-than-expected CPI data fueled expectations of further Federal Reserve rate hikes.
Notable Statistics:
Coinglass data shows 89,108 traders were liquidated in the past 24 hours for $331.89 million. SoSoValue data shows net inflows of $175.6 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $24.84 million. In the past 24 hours, top gainers include Bitway, Venice Token and Pearl. Notable Developments:
Is a Stronger Dollar Bullish for Bitcoin?DriveWealth to Integrate Ripple as Evernorth Deploys XRP TreasuryBitcoin, ETH, XRP Drop 1% Following Hot CPI Inflation PrintBitcoin, ETH, NEAR Are the Best Bets for the Rest of 2026, Analyst PredictsRipple Adds Fourth Korean Partner but XRP Slides to $1.35Saylor Sees Bitcoin Above $100,000—So Why Is Strategy Willing to Sell?Trader Notes:
Analyst Kevin expects Bitcoin to form a higher low around the upcoming U.S. midterm elections, noting that BTC bottomed in the weeks following the 2014, 2018 and 2022 elections.
He argues that higher-timeframe indicators already resemble previous market bottoms, making a fresh low historically unusual.
Kevin sees $77,000 to $83,000 support holding for a rally to $93,000 to $100,000, while a breakdown below $77,000 could trigger a pullback to $67,000 to $76,000.
Trader KillaXBT noted that Bitcoin’s decline heading into Oct. 14 could set the stage for a reversal, citing a recurring pattern over the past year in which BTC moves against bearish expectations around that date.
The trader suggested a potential rebound if the historical pattern repeats.
Image: Shutterstock
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Crypto Banter analyst Sheldon expects Cardano (ADA) to resume its upward move within the next seven to 10 days.
He shared this view during a recent YouTube livestream, highlighting price zones where buyers have been accumulating the cryptocurrency.
Sheldon said ADA’s recent pullback has made buying areas on its chart easier to identify. He expects several cryptocurrencies to spend another week or two consolidating before making sharp upward moves.
“You can see very clearly where the buys are on Cardano,” Sheldon said, adding that the market will start turning green again once the current phase ends.
His outlook comes as Cardano trades at $0.2346, according to CoinMarketCap data. ADA has fallen 7.81% over the past week but remains up approximately 11% over the past month.
Sheldon Expects Cardano to Turn Green Within 10 Days
Sheldon expects the current market weakness to persist briefly before buyers regain control. He indicated that the recovery will arrive sooner if the market moves lower and reaches the buying zones he has identified.
“If things play out right, we should be done in the next seven to 10 days and we should be seeing green again,” he said.
The analyst added that a quicker move into these zones will accelerate the recovery. However, he did not provide specific price targets for ADA or identify exact price levels for the buying areas in the available excerpt.
His comments suggest he sees the current decline as an accumulation phase rather than the start of a prolonged downturn. ADA’s response to buying interest and cryptocurrency market conditions will determine the strength and timing of the recovery.
Notably, ADA hit $0.2813 last week, marking a five-month high. However, the price quickly retraced from that level but has since found support around $0.23, and many analysts believe the rally will resume soon.
UPDATE: Crypto Banter's Sheldon says "you can see very clearly where the buys are on #Cardano $ADA. I do think a lot of these tokens are going to be here for a week or two, and then start moving ridiculously." pic.twitter.com/x8m5hPDBqJ
— Angry Crypto Show (@angrycryptoshow) October 13, 2026
CryptoUS Predicts a Solana-Type Comeback
Sheldon’s outlook follows comments from CryptoUS pundit George, who argued that Cardano will stage a recovery similar to Solana’s performance soon.
George noted that ADA has repeatedly suffered deep declines during crypto winters before recovering. He also highlighted Cardano founder Charles Hoskinson’s continued involvement as a key factor supporting the project’s long-term resilience.
Solana provides a notable historical comparison. SOL fell to about $8.14 in 2022 after the FTX collapse, then climbed above $125 by 2023. It subsequently reached an all-time high of around $294 in January 2025.
That represented a gain of more than 3,500% from its December 2022 low to its peak. George sees Cardano following a comparable recovery path.
Meanwhile, ADA will need to overcome its current price weakness and attract sustained buying demand to establish a similar trajectory.
ADA Recovery Hinges on Its Next Move
At $0.2346, Cardano remains well below its previous all-time high of approximately $3.10. Its 11% monthly gain signals improved performance despite the weekly decline.
Sheldon’s seven-to-10-day forecast puts the focus on ADA’s ability to stabilize and recover during the coming sessions.
Both analysts anticipate a Cardano comeback from different perspectives. Sheldon focuses on near-term buying zones and an imminent market turnaround, while George points to the prospect of a longer-term recovery modeled on Solana’s post-FTX rally.
Crypto YouTuber The Modern Investor has outlined a bullish price forecast for Cardano (ADA) in an outlook in which Bitcoin (BTC) climbs to $295,000.
The crypto commentator shared his price targets for several major cryptocurrencies, including Bitcoin, Ethereum (ETH), XRP, and Cardano. He argued that the current market cycle will either follow previous bull run patterns or usher in unprecedented growth for the crypto industry.
“I could totally see Bitcoin going to around $295,000,” The Modern Investor said, adding that Ethereum could reach $11,000. As for Cardano, he predicts $5, and $8.95 for XRP.
How Much Would Cardano Gain From $0.2348 to $5? Cardano is trading at $0.2348, up 0.4% over the past 24 hours and 13% over the past month. A rally to The Modern Investor’s $5 target would deliver a gain of approximately 2,030% from the current price. In dollar terms, ADA price would rise by $4.7652, reaching more than 21 times its present value.
Meanwhile, Bitcoin is trading at approximately $83,400, up 7% over the past month. A rally to $295,000 would deliver a gain of about 254%, adding $211,600 to its current price.
These targets highlight the scale of the gains The Modern Investor anticipates under his bullish market scenario.
Tokenization to Drive the Next Crypto Bull Run The Modern Investor’s outlook comes amid expectations that tokenization will become a major driver of crypto adoption and valuations.
He referenced forecasts estimating that between $5 trillion and $10 trillion worth of real-world assets will be tokenized by 2030. The commentator also cited remarks from Fundstrat co-founder and BitMine chairman Tom Lee, who expects the current crypto bull market to surpass previous cycles.
Lee has identified tokenization, artificial intelligence, and a more favorable regulatory environment as factors distinguishing the current cycle from earlier rallies driven by initial coin offerings, meme coins, and stablecoins.
The Modern Investor believes these developments will contribute to a much larger market expansion than investors experienced in previous cycles.
“Large Investors Are Preparing for a Major Move” Beyond tokenization, the YouTuber argued that large-scale crypto accumulation signals that wealthy investors are positioning themselves ahead of major economic disruptions.
He pointed to reports of substantial Ethereum purchases and significant XRP accumulation, arguing that the scale of these transactions indicates that institutional and wealthy investors are preparing for a major market move.
Meanwhile, the commentator also raised concerns about a stock market crash, an artificial intelligence bubble, and rising global debt. He suggested that some investors are accumulating digital assets in anticipation of these risks.
Can Cardano Reach $5 in the Next Bull Run? For Cardano holders, The Modern Investor’s $5 target represents an extremely bullish scenario requiring ADA to rise more than 2,000% from its current price.
Such a rally would deliver substantial returns to investors who accumulate ADA at current levels. ADA’s price reached $3.10 in the 2021 bull run, and many market commentators believe history could repeat.
Essentially, the Modern Investor’s forecast places Cardano among the assets he expects to benefit from an exceptionally strong bull market. But his $5 target remains a price projection, not a guaranteed outcome.
Cardano price has fallen toward $0.228 as daily selling pressure tests its rising channel, while analyst Giannis Andreou sees a possible recovery if ADA holds the $0.22–$0.24 demand zone.
Summary
ADA traded near $0.228, with TradingView showing a 3.47% decline on the daily chart.
Daily Chaikin Money Flow stood at −0.12 as price approached the rising channel’s lower boundary.
Andreou identified $0.2910 as a breakout test after a recovery through $0.26–$0.28.
CoinGlass showed prominent liquidation concentrations near $0.24, $0.247, and $0.26, above the market price.
Cardano daily price chart showed it was trading at $0.2278 on Oct. 14, below the session’s opening price of $0.2360. The recorded high was $0.2391, while the low reached $0.2266, leaving ADA near the bottom of its daily range.
The weekly chart showed a broader decline of 9.79%, with ADA at $0.2276 against an opening price of $0.2522. Its weekly high stood at $0.2561 and its low at $0.2242, placing the latest price just above that lower level.
Cardano approaches the lower edge of its rising channel
The TradingView daily chart places ADA inside an ascending channel drawn from its June and July lows. Cardano recovered from roughly $0.14 in July to above $0.27 in early October before retreating toward the channel’s lower boundary.
Cardano price daily chart — Oct. 14 | Source: TradingView
At the latest reading, the drawn lower trendline runs through approximately $0.21–$0.22. ADA remains above that boundary, although its fall from the October peak has narrowed the distance between price and channel support.
The same chart shows several unsuccessful attempts to sustain trading above $0.25 during the recent pullback. A recovery toward that area would first require ADA to regain $0.23–$0.24, where recent daily candles show repeated trading activity.
Daily momentum readings also show a weaker short-term setup. TradingView displays the Aroon lines at 42.86% and 57.14%, with both below their recent peaks near 100%.
The daily Chaikin Money Flow reading is more clearly negative at −0.12. Its move below zero accompanies the latest price decline, following positive readings during parts of September and early October.
Taken together, the daily chart shows a pullback within the recovery channel that began in midyear. A move through the lower boundary would break that drawn structure, while a rebound would keep price inside it.
Andreou’s recovery scenario starts with $0.22–$0.24
Giannis Andreou identified the $0.22–$0.24 area as Cardano’s immediate demand zone in an Oct. 14 post. He placed the 0.618 Fibonacci level near $0.2278, almost exactly matching the latest TradingView daily price.
📊 $ADA’S NEXT HIGHER LOW COULD SET THE STAGE$ADA is testing $0.22–$0.24 demand, with the 0.618 Fibonacci level near $0.2278 adding confluence.
Hold this zone and reclaim $0.26–$0.28, and $0.2910 becomes the key breakout test.
A confirmed break and retest would bring $0.3206… pic.twitter.com/G4CRBqnGie
— Giannis Andreou (@gandreou007) October 14, 2026
The analyst said ADA needs to hold that zone and reclaim $0.26–$0.28 before $0.2910 becomes the key breakout test. His scenario therefore requires a recovery through several resistance levels before the higher targets come into play.
A confirmed break above $0.2910, followed by a retest, would bring $0.3206 and $0.3698 into focus, according to Andreou. He listed $0.4277 as the next level beyond those targets.
His illustrated bullish path extends to $0.4834, representing roughly 105% upside from the approximately $0.2354 price shown in his own chart. That percentage belongs to the starting price in his analysis; the Binance daily chart records a lower price near $0.228.
Andreou also outlined the downside conditions. A loss of $0.22 would put $0.2110 and the $0.19–$0.20 support area in focus, he said.
His $0.22 threshold sits close to the lower boundary of the separate daily ascending channel. Both chart setups place the next downside test beneath the current price, while his bullish path begins with holding that area.
Weekly Supertrend remains above ADA’s price
TradingView’s weekly chart shows the Supertrend indicator at $0.2762, above ADA’s $0.2276 reading. The indicator remains red, maintaining a bearish weekly signal despite the recovery from the midyear lows.
Cardano price weekly chart — Oct. 14 | Source: TradingView
The Supertrend level also falls inside Andreou’s $0.26–$0.28 reclaim zone. A move into that range would bring ADA back toward both the analyst’s recovery threshold and the weekly indicator.
Weekly Bull Bear Power stood at a positive 0.0325. The latest green histogram bars follow a lengthy stretch of mostly negative readings, creating a mixed picture alongside the red Supertrend.
The weekly chart also contains a drawn rounded recovery path that extends upward into 2027. ADA’s observed price remains near the lower portion of that illustration, beneath the Supertrend line and far below the curve’s projected endpoint.
For U.S. holders following the dollar value of ADA, the quoted readings come from Binance’s USDT trading pair. Andreou’s price levels are also dollar-denominated, giving his recovery and downside scenarios the same approximate price reference as the technical charts.
Liquidation bands cluster above the market
CoinGlass’s one-week ADA liquidation heatmap shows the price retreating from around $0.255 toward $0.227 across the displayed period. The path includes rebounds toward $0.255 that failed to hold before the latest decline.
Cardano liquidation heatmap | Source: CoinGlass
At the right edge of the heatmap, visible liquidation bands sit near $0.23–$0.233 and approximately $0.24. Higher concentrations appear around $0.244–$0.247, with the strongest broad band near $0.26.
The $0.26 concentration overlaps the lower end of Andreou’s proposed reclaim zone. His next resistance range extends toward $0.28, close to the weekly Supertrend reading of $0.2762.
Below the latest price, CoinGlass shows bands around $0.223–$0.225 and near $0.22. Those levels sit close to the weekly low and Andreou’s stated downside threshold.
ADA consequently enters the next trading stretch near $0.228, with daily channel support below it and the weekly Supertrend overhead. Andreou’s recovery scenario requires the $0.22–$0.24 zone to hold before a reclaim of $0.26–$0.28 opens the way toward his $0.2910 breakout test.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Remittix approaches its confirmed market debut with PayFi testing underway as Ethereum staking expands into traditional brokerage and Cardano records its busiest five-day period.
MAJURO, Marshall Islands, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Remittix is counting down to the November 24, 2026 market launch of RTX, giving its growing community a fixed date for the project’s transition from crypto presale to public trading.
The launch sets an endpoint for a campaign that has attracted more than 40,000 participants and raised over $32 million toward a $36 million hard cap. RTX is currently available at $0.28 through Remittix, while $0.46 is the announced final presale price and planned minimum exchange launch price.
The countdown begins as Ethereum and Cardano price prediction models gain fresh support. Interactive Brokers has launched Ethereum staking for eligible clients, while Cardano recorded 1.78 million transactions in five days.
November 24 Gives Remittix a Defined Market Catalyst
The November 24 RTX launch creates a clear timeline for the final allocation. Participants can track the current $0.28 price, the $0.46 final stage, the hard cap and the public-market date.
One thousand invited holders can test PayFi using EUR and USD routes, allowing Remittix to gather feedback before wider access.
PayFi Places Remittix Inside a Global Payments Opportunity
Remittix is primarily a PayFi project built to connect cryptocurrency with conventional bank settlement. Its model allows an eligible transfer to be funded with supported digital assets while the recipient receives fiat through a compatible bank account.
Current testing includes crypto-to-fiat and fiat-to-crypto functions. USDT and USDC are supported across Ethereum, Celo, Base and Polygon, with additional currencies, assets and networks being prepared.
The Remittix ecosystem adds further utility. Its iOS wallet has exceeded 10,000 downloads, Remittix Markets has processed more than $50 million in perpetual volume and Remittix Earn is approaching release with advertised yields of up to 22% APY on eligible holdings.
Ethereum Price Prediction Targets $12,000 as Cardano Eyes $3
Interactive Brokers has introduced Ethereum staking for eligible clients through zerohash. Rewards can be credited as additional staked ETH and compound while active. The move takes Ethereum’s yield proposition further into traditional finance and strengthens the case behind a $12,000 ETH price prediction.
Cardano processed 1,780,896 transactions during Epoch 660, surpassing its previous five-day record from November 2021. That surge gives ADA bulls a new network-activity argument as Cardano price prediction models revisit the $3 level. From recent prices, that target would represent a return toward the token’s historic peak and a major rerating of Cardano’s ecosystem.
Remittix Enters the Final Phase With Multiple Products Advancing
Ethereum and Cardano offer established network exposure, but their multibillion-dollar valuations require enormous new capital to produce outsized gains. Remittix enters public trading from an earlier stage, with PayFi testing, a live trading platform, wallet adoption and an Earn product approaching release.
For investors searching for a new crypto with a confirmed launch catalyst, November 24 places RTX on a shorter and more visible timeline. The final presale phase gives buyers a limited opportunity to enter before price discovery moves to public exchanges.
About Remittix
Remittix is developing a connected PayFi ecosystem for crypto-to-bank and bank-to-crypto transactions. Its products include international payment settlement, a mobile wallet, Remittix Markets and the forthcoming Remittix Earn service.
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Tether Brings On-Device Speech Recognition to Smart Glasses and Humanoid Robots as Smart Technology Moves Deeper Into Private Life
TranscribePsy’s open-source 254-million-parameter model delivers high-performance speech recognition without cloud processing, transcribing 10 minutes of audio in 1.65 seconds on an iPhone 17 Pro Max and advances Tether’s vision for private, voice-enabled AI 14 October 2026 – Tether AI Research* today announced the release of QVAC TranscribePsy, a compact 254-million-parameter multilingual automatic speech recognition model designed to run entirely on-device. The model marks a major step in Tether’s broader effort to bring advanced AI capabilities directly to smartphones, smart glasses and humanoid robots while keeping users’ data private.
As voice-enabled technology moves further into homes, workplaces and everyday conversations, TranscribePsy gives developers a way to build speech recognition that works offline without sending users’ audio to cloud servers. The model can process audio from smart glasses connected via Bluetooth or Wi-Fi in near real-time, or run directly on a humanoid robot’s onboard processor. Designed for fast responses, it enables natural voice interactions with low latency, while keeping speech processing on-device.
The release addresses a growing question for consumer AI: as more devices can listen, where do those conversations go? Spoken interactions can capture family discussions, confidential work, and the voices of people nearby who never chose to use the technology. Processing speech locally removes the need to upload that audio for transcription, giving people greater control over information from their private lives.
High Performance in a Compact Model
TranscribePsy delivers leading performance across accuracy, speed, and memory efficiency, despite being a fraction of the size of larger speech models.
TranscribePsy achieves an 8.02% word error rate (WER) on the Open ASR Leaderboard, 6.58% on Multilingual LibriSpeech and 21.56% on Common Voice, leading all tested models in its parameter class. At 254M parameters, TranscribePsy achieves a 6.58% WER on Multilingual LibriSpeech, outperforming models 3–4x its size, including Qwen3-ASR-0.6B, omniASR-CTC-1B-v2, OWSM-CTC-v4 and Whisper-Medium. Across six tested smartphones, TranscribePsy was the fastest model, running 2.6x faster than the next-fastest model and 5.7x faster than Whisper-small across the phone CPUs. Its Core ML build transcribes 10 minutes of audio in 1.65 seconds on an iPhone 17 Pro Max, while using less than half the disk space and 1.7x less memory than a tested Core ML competitor. TranscribePsy covers 25 European languages on laptops and 8 European languages on phones, with dedicated builds for the iPhone Neural Engine. Built for Voice-First AI
TranscribePsy is designed for continuous, real-time audio, turning conversations into text moments after they are spoken. These models support Tether’s longer-term vision for AI that people can interact with AI naturally through speech. For smart glasses, local transcription can reduce delays and data leaks associated with cloud processing. This approach is particularly relevant to medical consultations, legal interviews, therapy sessions and confidential journalism, where recordings may contain sensitive information. In humanoid robotics, a compact speech model can preserve onboard computing resources for visual understanding, spatial mapping and physical control.
The release includes four specialized checkpoints: a laptop model covering 25 European languages, a laptop variant focused on eight core languages, a GGUF mobile build that runs on the qvac-fabric-speech’s parakeet.cpp engine, and a Core ML build optimized for the iPhone Neural Engine.
Within the broader QVAC Psy ecosystem, TranscribePsy provides the speech-to-text foundation for potential integrations with VisionPsy, TranslatePsy-Nano and MedPsy. Together, these capabilities could support voice-driven document analysis, translation, navigation and private note-taking. They reflect Tether’s broader ambition to bring private, on-device AI into everyday tasks, with this release delivering the speech recognition models that lay the foundation for those future applications.
“The future of AI shouldn’t mean giving centralized platforms a front-row seat to our personal lives,” said Paolo Ardoino, CEO of Tether. “TranscribePsy shows that advanced speech AI can be fast, capable, and entirely local. AI is going to become part of our phones, glasses, and machines, but that doesn’t mean our data needs to leave them. We want to see powerful AI running directly on the devices people already own, with users in control of their data and their privacy intact.”
Open by Design
TranscribePsy is released under the Apache 2.0 license for research and educational purposes, with open model weights, GGUF mobile builds, Apple Silicon Core ML builds, and complete evaluation configurations for transparent and reproducible benchmarking.
The release is part of Tether AI Research’s broader work to develop compact, efficient models capable of processing audio, text, images, and video directly on edge devices. The long-term vision is to make advanced multimodal AI available wherever people need it, without requiring sensitive data to leave the device.
*References to Tether AI Research mean Tether Data, S.A. de C.V.
About QVAC
QVAC is Tether Data’s advanced AI research initiative dedicated to building open, decentralized, and adaptive intelligence systems. Its mission is Local AI and Infinite Intelligence. It is guided by an uncompromising vision of a world where AI lives and learns on any device, empowering individuals and communities rather than concentrating power in corporate data centers.
About Tether Data
Tether Data, S.A. de C.V. (“Tether Data”) is part of Tether’s broader vision to advance freedom, transparency, and innovation through technology. Its mission is to enable people and organizations to connect and share information directly, without unnecessary intermediaries. By creating secure, peer-to-peer systems, Tether Data gives users greater control over their data, communications, and digital interactions. Tether Data aims to redefine how information flows across networks by replacing centralized models with decentralized infrastructure designed for privacy, efficiency, and resilience. The company’s goal is to make global connectivity faster, safer, and more private, empowering individuals and institutions alike to exchange information freely and securely.
Tether has invested in EFY Finance’s seed funding round to expand institutional use of USDT and USA₮ in Latin America. The company announced the investment on October 13 without disclosing its size.
The backing targets the connections between stablecoins and everyday financial services, including bank accounts, cards, and cross-border payments. EFY already supports settlement to local accounts in 17 countries, giving Tether an established network to build on.
Connecting digital dollars with local accounts Accounts, custody for digital assets and local currency to stablecoin conversion are services provided by EFY. It serves a lot of active individual and business accounts, according to Tether.
For a business that is paying suppliers overseas, it is more than just sending tokens between wallets. The business receiving the payment may want it to come to a local bank account, and this is where EFY is able to help.
The countries where EFY already operates with its own institutions and with which relationship Tether aims to expand include Bolivia, Colombia, Mexico, El Salvador, Panama, and Ecuador.
The announcement covers both USDT and USA₮.
The 17-country network already exists The investment does not mark the launch of payments in 17 new countries. EFY announced that settlement coverage in February, with an update in July.
This service lets users easily transfer money to their business, and the funds are accessible in a local account right after the transaction, without opening up an operation account in all their destinations.
The businesses can manage payments, review payment and other rates, and track their transfers via one simple platform.
However, coverage does not mean every service is available to every customer. EFY says access depends on the destination, currency, account type, and compliance requirements. Banking hours and the payment route can also affect settlement times.
What the investment adds EFY CEO Andres Tobon said the next goal should be building tools to get people to use stablecoins into their workflows. Tether’s interest is in helping it happen.
The deal is about payment infrastructure and distribution. Its impact will depend on how effectively EFY expands access and handles transactions across its supported markets.
Final Summary Tether-backed EFY’s seed round is to expand institutional access to USDT and USA₮ in Latin America. EFY’s 17-country settlement coverage has been in place before the investment.
Basic Attention Token [BAT] finally broke out of a multi-month descending channel, briefly clearing the $0.20 resistance.
At press time, the altcoin traded around $0.19, up 8.5% on the daily chart and 93% over the week. Trading Volume surged 120%, reflecting stronger market activity.
As BAT crossed $0.20, short sellers felt the squeeze, with over $1.2 million in short positions liquidated. However, the retreat below that level left buyers with another test: absorbing the tokens flowing onto exchanges.
What fueled BAT’s breakout?
Basic Attention Token experienced strong bullish pressure alongside growing interest in decentralized advertising models.
According to CoinMENA, BAT saw increased demand as capital rotated toward altcoins associated with real-world adoption. That growing interest was especially visible in the derivatives market.
CoinGlass data showed Open Interest surged 25% to an all-time high [ATH] of $59 million.
Source: CoinGlass
Meanwhile, Derivatives Volume climbed 340% to a record $632 million. Together, rising Open Interest and Trading Volume pointed to greater participation in BAT’s leveraged markets.
Source: CoinGlass
Futures Inflows reached $265.7 million, compared with $255.4 million in Outflows. Futures Netflows consequently rose 332% to roughly $10 million.
More capital entered tracked Futures venues than left, although these flows alone could not establish whether traders favored longs or shorts.
Could BAT exchange inflows slow the rally?
After the breakout, more BAT moved onto exchanges, potentially giving holders an opportunity to take profits.
On the 13th of October, Spot Netflows reached a record $2.5 million. At press time, the reading fell to $1.5 million but remained positive.
Source: CoinGlass
Positive Spot Netflows indicated that exchange inflows exceeded outflows. These deposits increased the supply available for selling, without confirming that holders had already sold.
For buyers, that creates a practical challenge. Sustaining the rally could require enough demand to absorb any selling from those deposits.
What’s next for BAT?
BAT’s Relative Strength Index (RSI) rose to 85, entering the overbought zone and reflecting strong recent buying momentum.
The Moving Average Convergence Divergence (MACD) also maintained an upward trajectory, supporting the bullish outlook.
Source: TradingView
Still, an elevated RSI leaves room for a pullback, even while momentum remains strong.
If buyers absorb profit-taking pressure and reclaim $0.20, Basic Attention Token [BAT] could target the $0.28 resistance. Conversely, sustained selling could undermine the breakout and bring the draft’s deeper downside level of $0.10 into focus.
Final Summary
BAT crypto gained 93% over the week, with record Open Interest accompanying its breakout above the descending channel.
Positive Spot Netflows raised selling risk, while reclaiming $0.20 could open a recovery path toward $0.28.
TRON’s [TRX] steady growth in stablecoins is translating into higher payment activity, with the network processing $2.21 trillion in transactions through Q3 2026. The growing supply of Tether [USDT] and USDD was responsible for much of this activity.
This was a 5.5% increase from the previous quarter to a total of $93.88 billion. Average daily stablecoin volume was up by 3.9% to $24.05 billion. This indicates continued demand for dollar-based transfers.
The activity coincided with an increase in monthly active user accounts, which rose 9.8% to 18 million.
Source: X Meanwhile, TRON’s cumulative transaction volume has exceeded $30 trillion. Now, further growth will depend on continued use. However, simply high transaction volume does not prove long-term acceptance or profitability.
TRON’s stablecoin payment demand TRON’s expanding stablecoin supply is seeing consistent movement. The continued increase in supply suggests growing use across digital payments. USDT, which currently represents nearly 98% of TRON’s stablecoin base at approximately $93.1 billion out of $95.2 billion.
Therefore, it has a considerable impact on the volume of transfers executed within TRON.
Average daily transfer volume of USDT over the last 30 days stood at $24 billion. Daily transfer volumes fluctuated from as low as $10 billion to as high as $32 billion.
Furthermore, over 1 million user accounts are initiating new transfers every day and generate up to 2.5 million new events per day.
Source: TRON Blog This repeated circulation supports activity across exchanges, remittances, and merchant payments. Sustained usage would strengthen its position in stablecoin payments and confirm demand beyond idle balances.
TRON adds $633.6M in stablecoin supply While TRON’s stablecoin activity reflects sustained transaction demand, its latest supply growth highlights where capital is flowing across blockchain networks.
TRON attracted $633.6 million stablecoins during a seven-day period. This is considerably higher than the influx of $64 million for OP Mainnet.
Therefore, this gap suggests stablecoin issuers continue to prefer using the token as a platform to deploy their stablecoins due to nearly 98% of TRON’s stablecoin holdings being in USDT form.
Source: Token Terminal Such concentration could reinforce TRON’s liquidity advantage over competing networks, supporting its appeal to exchanges and payment providers. However, one week of inflows cannot confirm a lasting trend.
Continued gains relative to rival networks would strengthen evidence of capital preference, while slower growth could signal a temporary shift.
Final Summary TRON settled $2.21 trillion in stablecoins during Q3 2026, with daily USDT transfers averaging $24 billion.
TRX added $554.9 million in stablecoin supply in one week, outpacing OP Mainnet’s $64 million.
Tokenized stocks on BNB Chain have a new place to trade. Metric has opened its decentralized exchange on the network, letting users trade and provide liquidity for bStocks, the BEP-20 tokens that represent US stocks and ETFs.
The launch landed on October 14, 2026. It pairs one of the fastest-growing tokenized equity products with a DEX built around off-chain price feeds rather than pure on-chain guesswork.
What Metric is actually launching
bStocks are tokenized versions of US equities and exchange-traded funds. Each one lives on BNB Chain as a BEP-20 token, the network’s standard token format.
Users can swap bStocks directly on the exchange. They can also deposit assets into Metric’s pools as liquidity providers, the people who supply the inventory that makes trading possible.
Metric’s smart contracts are deployed on BNB Smart Chain, which carries chain ID 56. The same contracts also run on Ethereum and Robinhood Chain.
The propAMM model, explained
Most decentralized exchanges use automated market makers, or AMMs. These set prices using the ratio of tokens sitting in a pool.
Metric takes a different route. It uses what it calls a propAMM, short for provisioned automated market maker.
Instead of relying only on internal price discovery, the system pulls in external oracles. Chainlink Data Streams is among them.
Those feeds anchor pool prices to off-chain market rates. The design is meant to support continuous trading for these real-world asset tokens. It also aims to play nicely with other DeFi protocols on BNB Chain, including PancakeSwap.
Metric’s quiet run-up
Metric did not arrive empty-handed. Before going public with its DEX launches, the team reported more than $10 billion in cumulative trading volume.
That volume was built while Metric operated in stealth across several chains, including Robinhood Chain and Ethereum.
bStocks had a head start
bStocks launched around June 11, 2026. The product is backed by regulated custody from BTech Holdings Ltd., an affiliate of the Binance group.
By July 2026, bStocks accounted for about 85% of tokenized equity DEX volume.
What this means for traders and DeFi
For BNB Chain users, the most immediate change is choice. bStocks now have another venue where they can be traded and pooled, with pricing tied to external market data.
For the broader BNB Chain ecosystem, composability is the bigger story. If bStocks liquidity on Metric connects smoothly with protocols like PancakeSwap, tokenized equities could start behaving like regular DeFi building blocks rather than isolated novelties.
For now, the setup is straightforward. bStocks bring the dominant market share, BTech Holdings brings the custody, and Metric brings an oracle-anchored DEX with a reported $10 billion-plus track record.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Memecoins have changed from simple internet jokes into a major part of cryptocurrency culture. Dogecoin started as a playful digital currency, while PEPE gained attention through its connection to a famous internet meme. Both show how online communities can turn cultural ideas into widely traded crypto assets.
However, a new generation of AI memecoins is bringing technology into the picture. Instead of depending entirely on viral attention, these projects aim to use artificial intelligence for research, token discovery, and automated launch preparation.
MemeToro is building an AI-powered memecoin ecosystem on BNB Chain. Its open-source AI agent researches trends, prepares token proposals, and connects them with transparent smart-contract rules.
With more than $163,000 raised in Stage 8 and $MT priced at $0.00528, MemeToro is developing a different approach to memecoin participation. The project combines AI research, future trading infrastructure, and token utility within one ecosystem.
Why AI Memecoins Could Become the Next Major Crypto TrendThe main difference between AI memecoins and classic memecoins is how technology supports their ecosystems. Traditional memecoins often depend on community enthusiasm, exchange listings, and social media attention.
Dogecoin uses its own blockchain and has an established history as a payment-focused cryptocurrency. PEPE operates as an Ethereum-based token whose identity comes from internet meme culture.
MemeToro takes a different route by developing an AI agent that can study online conversations, news, and emerging cultural themes. The goal is to turn those signals into documented memecoin proposals.
The planned process includes:
Trend research: The AI agent examines public signals to identify emerging cultural themes.Proposal creation: MemeToro generates concepts with supporting evidence and launch parameters.Smart-contract execution: Public contracts are designed to enforce funding conditions after validation.This gives AI memecoins a technology-led angle beyond their branding. MemeToro’s development also creates a possible connection between automated discovery and future memecoin trading.
Potential 9.82x Returns on a $500 $MT Buying Right NowCommitting $500 at the current Stage 7 price secures roughly 94,697 $MT tokens.
Should the token successfully reach its publicized launch price of $0.05186, the resulting paper value of this stake would land around $4,911, representing the familiar 9.82x step-up from the initial investment.
Pushing the scenario further into optimistic territory, if MemeToro’s project eventually scales to a $1 billion fully diluted market cap, implying a token price close to $0.8333, this same token count would theoretically be worth about $78,911.
MemeToro’s AI Agent Brings a New Approach Beyond DOGE and PEPEDOGE and PEPE already have recognizable identities, but MemeToro focuses on the infrastructure used to discover and prepare new memecoin concepts.
MemeToro’s AI agent follows a Propose, Verify, Fund, and Launch model. The AI researches ideas, while deterministic software checks whether the proposals meet predefined requirements.
MemeToro has published real code, tests, and development examples through its GitHub repository. These materials describe how proposal evidence, rejected candidates, and funding parameters can be recorded.
Another development involves launch manifests. These structured records contain important information about a proposed token, including supply, pricing, and funding conditions.
MemeToro’s latest proposal-fingerprint system is designed to connect published information with the corresponding BNB Chain funding round.
The technology gives MemeToro a distinctive position among AI memecoins. Rather than relying only on the popularity of one character, the project is developing tools for researching and launching future memecoin concepts.
Why $MT Utility and Stage 8 Pricing Strengthen MemeToro’s AppealMemeToro’s $MT token supports the project’s planned ecosystem of platform access, transactions, rewards, staking, and memecoin-related services.
Unlike DOGE and PEPE, $MT is associated with a developing AI-assisted launch infrastructure. MemeToro also plans trading features that connect token discovery with broader ecosystem activity.
The total $MT supply is 1.2 billion tokens. Its corrected allocation includes 852 million for public sale, 120 million for CEX reserves, 90.72 million for marketing partners, 60 million for trading, 53.28 million for rewards, and 24 million for the team.
How to Buy MemeToro Before the Prices Increases in the Next StageUsers interested in $MT can begin through MemeToro’s official how to join page. The website provides card and cryptocurrency payment routes for presale participation.
The basic process involves connecting a compatible wallet or selecting an available payment method, entering the purchase amount, and following the displayed instructions.
MemeToro states that public-sale tokens are claimable at launch without a presale vesting schedule. This makes the token distribution structure particularly relevant to buyers comparing early-stage projects.
The project’s separate FairLaunchEscrow architecture is still under development. Its proposed exit windows and refund functions apply to future launchpad funding rounds, not automatically to existing $MT purchases.
What’s Ahead for Top Crypto Presales: MemeToro Offers a Different Direction for MemecoinsThe comparison between AI memecoins and classic memecoins is ultimately about how each project creates value for its community.
DOGE demonstrates the lasting influence of a familiar cryptocurrency brand. PEPE shows how internet culture can support a widely recognized token.
MemeToro is pursuing another direction through AI-assisted research, transparent launch proposals, and planned BNB Chain trading infrastructure.
Its Stage 8 presale, $MT utility model, and published development work give investors several measurable areas to follow as the ecosystem develops.
The strongest distinction is not that MemeToro uses a meme-based identity. It is that MemeToro is building technology intended to help communities research, evaluate, fund, and launch new memecoins through documented rules.
That makes MemeToro an interesting project in the growing AI memecoins category.
FAQsWhat Makes AI Memecoins Different From DOGE and PEPE?AI memecoins combine meme culture with artificial intelligence tools. MemeToro uses an AI agent to research trends, generate token proposals, and prepare transparent funding rules, while DOGE and PEPE mainly rely on their established communities and market activity.
Why Is MemeToro Considered a Promising AI Memecoin?MemeToro combines AI-powered memecoin discovery, planned trading features, and $MT token utility. Its open-source development and BNB Chain funding architecture give the project a technology-focused approach beyond traditional memecoin branding.
How Much Could a $500 MemeToro Investment Be Worth?At the stated Stage 8 price of $0.00528, $500 buys approximately 94,697 $MT before fees. If the token reached $0.05186, those tokens would have a hypothetical value of around $4,911, representing approximately 9.82x the original amount.
Memecoin launchpads have made token creation faster and more accessible. Instead of developing smart contracts from scratch, creators can use specialized platforms to launch tokens and connect them with trading markets.
However, these platforms do not all follow the same funding model.
Pump.fun operates on Solana and uses bonding curves to make new tokens immediately tradable. Four.meme brings a similar launch experience to BNB Chain, with tokens moving toward PancakeSwap liquidity after meeting the platform’s conditions.
MemeToro is developing a different approach built around AI-generated proposals, fixed-rate funding, and smart-contract protections.
The project has raised more than $163,000 in Stage 8 of its $MT presale, priced at $0.00528.
For buyers comparing these platforms, the main question is whether they prefer immediate trading or a structured funding period with published terms and withdrawal conditions.
Why MemeToro’s Buyer-First Design Stands Out Among Launchpads and Crypto PresalesMemeToro, Pump.fun, and Four.meme approach token launches from different starting points.
Pump.fun emphasizes fast token creation and immediate trading on Solana. Its bonding-curve system allows buyers and sellers to trade before eligible tokens graduate to PumpSwap.
Four.meme provides token creation and bonding-curve trading on BNB Chain. Successful launches can progress to PancakeSwap liquidity.
MemeToro focuses on a planned funding model that begins with documented AI-generated proposals.
Its proposed protections include:
Fixed-rate funding: Contributors within a round receive the same published funding price.Exit windows: Contributors can withdraw before a stated deadline.Proposal fingerprints: Funding rounds can be checked against the originally published launch information.Permissionless refunds: Eligible contributors can recover funds through contract rules without team approval.These features give MemeToro a different design focus.
Pump.fun and Four.meme already operate live trading systems. MemeToro’s FairLaunchEscrow protections are published in development code but are not yet deployed as a production launchpad.
Analyzing a $1,000 $MT Holding: From Presale to CEX LaunchAllocating $1,000 at the $0.00528 Stage 7 price point results in approximately 189,394 $MT tokens, a figure that excludes any payment or network processing fees.
Assuming the token eventually trades at its projected launch price of $0.05186, that batch of tokens would hold a value of about $9,822, roughly a 9.82x gain compared to the original $1,000 investment.
Taking the analysis into more ambitious territory, an aggressive $1 billion fully diluted valuation model would imply a token price around $0.8333, which would value this same 189,394-token holding at approximately $157,822.
How MemeToro’s Refund Rules Compare With Bonding-Curve TradingThe biggest difference between MemeToro and the other launchpads is how participants enter and leave a funding arrangement.
Pump.fun uses a bonding curve that supports immediate buying and selling. Token prices respond to activity under the curve’s pricing mechanism.
Four.meme also uses bonding curves, with trading liquidity eventually moving to PancakeSwap after the relevant conditions are reached.
MemeToro’s proposed model uses a fixed-rate funding round before finalization.
Contributors can withdraw during the published exit period. The contract prevents finalization until that window closes, even if the funding cap is reached earlier.
This is different from selling a token into a market.
A market sale depends on the available price and liquidity. MemeToro’s proposed exit-window withdrawal instead returns an eligible contributor’s funds under the funding contract’s predefined conditions.
The distinction makes MemeToro’s design particularly relevant to buyers who want clearly documented funding rights before a token launches.
Why MemeToro’s AI Agent Could Offer a Stronger Research ExperiencePump.fun and Four.meme primarily provide tools for creating tokens and connecting them with trading activity.
MemeToro is developing an additional research layer through its AI agent.
The agent is designed to monitor news, social discussions, and cultural trends before generating candidate memecoin concepts.
Its workflow includes:
Research public trend signals.Generate possible token ideas.Record evidence supporting each concept.Reject proposals that fail validation.Publish an accepted launch manifest.Prepare the proposal for contract-based funding.MemeToro’s launch manifests are intended to include supply, pricing, funding thresholds, and wallet limits.
Why MemeToro’s Stage 8 Presale Adds Another Growth NarrativeMemeToro is also building an ecosystem around its $MT utility token.
The token is intended to support access, ecosystem transactions, staking, rewards, and memecoin-related services.
MemeToro has raised more than $163,000 during Stage 8, with $MT priced at $0.00528.
The total token supply is fixed at 1.2 billion, including 852 million tokens allocated to public sale. The remaining supply is divided among CEX reserves, marketing partners, trading, rewards, and the team.
For buyers evaluating the presale, the entry price provides a simple way to calculate token exposure.
At $0.00528, a $1,000 purchase represents approximately 189,394 $MT before fees. A hypothetical future price of $0.01584 would make the same token quantity worth about $3,000.
That would represent a threefold price increase, not a guaranteed outcome.
MemeToro’s how to join page explains current participation, while the developing launchpad represents a separate part of its wider technology roadmap.
Final Words: Which Memecoin Launchpad Offers the Strongest Buyer Protections?Pump.fun, Four.meme, and MemeToro serve different needs within the memecoin market.
Pump.fun provides established Solana-based token creation and bonding-curve trading. Four.meme offers a similar route for BNB Chain creators, including integration with PancakeSwap liquidity.
MemeToro is building a more structured funding model centered on AI research, fixed terms, exit windows, and permissionless refunds.
For buyers who value immediate trading, the two established platforms already provide working markets.
For buyers interested in published funding conditions and the ability to withdraw before finalization, MemeToro’s proposed FairLaunchEscrow architecture offers a compelling design.
The important distinction is deployment status. MemeToro’s protections are documented in development code, while Pump.fun and Four.meme already operate live launch systems.
MemeToro’s next technical milestones will determine how those proposed protections perform in practice.
FAQsHow Is MemeToro Different From Pump.fun and Four.meme?Pump.fun and Four.meme use bonding-curve trading, while MemeToro is developing fixed-rate funding rounds with published terms and exit windows.
Which Memecoin Launchpad Offers Refund Protection?MemeToro’s proposed FairLaunchEscrow includes withdrawal windows and conditional refunds, although the system is not yet deployed.
Does MemeToro Use AI for Memecoin Launches?Yes. MemeToro’s AI agent researches trends, generates proposals, and prepares launch parameters before smart-contract execution.
Bank of America stock fell as much as 9% on Wednesday, a day after the bank admitted willful money laundering control failures and agreed to pay $1.21 billion. Nobody was charged with a crime.
Changpeng Zhao (CZ) served four months in a US prison over his exchange’s anti-money laundering (AML) failures. On Wednesday, the Binance executive highlighted this double standard.
According to the Treasury, the bank failed to report more than $5 billion in suspicious transactions on time. Over $1 billion involved national security risks, including suspected Chinese money laundering networks.
The release says the bank often relied on law enforcement inquiries to spot problems, rather than its own monitoring.
The penalty cut quarterly profit by 17 cents a share, as BeInCrypto flagged Tuesday. Even without it, adjusted earnings of $1.08 per share missed estimates, per TipRanks.
Meanwhile, CZ referred to deferred prosecution agreements (DPAs), deals where prosecutors drop charges if a company complies.
Why Did No One at Bank of America Face Charges?The penalties came from three Treasury agencies. These are civil regulators, and they issue fines, not criminal charges.
Criminal cases come from the Justice Department. None of Tuesday’s Treasury announcements mention it.
That department changed course in 2025. A May 2025 Criminal Division memo widened the paths for companies to avoid prosecution if they self-report, cooperate, and fix problems.
Law firm Paul Weiss counted 21 corporate guilty pleas in 2025 and read the data as a slowdown. In 2013, then-Attorney General Eric Holder told senators that the size of some banks made them difficult to prosecute.
Why an HSBC Whistleblower Wants Bank of America Executives ChargedEverett Stern reported money laundering at HSBC while working there as a compliance officer in 2010. On Wednesday, he published an open letter on X to Treasury Secretary Scott Bessent.
Dear Secretary Bessent @SecScottBessent,
My name is Everett Stern. In 2010 I was a compliance officer at @HSBC. From a back office in New Castle, Delaware, I watched billions of dollars move to drug cartels, sanctioned regimes, and terrorist organizations. The enemies of the…
— Everett Stern (@EverettStern1) October 14, 2026 Stern asked Bessent to refer Bank of America executives for criminal prosecution. He also urged an end to “too big to jail” and a review of the bank’s national charter.
HSBC settled its own case in December 2012. It admitted that at least $881 million in cartel drug money moved through its US arm, according to the Justice Department.
HSBC paid about $1.92 billion and signed a deferred prosecution agreement. Stern says no banker was charged, and that reporting the bank cost him his career.
“The fines are not working. A fine is paid by shareholders, absorbed by the balance sheet, and forgotten by the next earnings call.”
What Made the Binance Case CriminalBinance never filed a single suspicious activity report with US authorities, according to Justice Department filings.
It also let Americans trade $898 million with users in Iran, breaching US sanctions. Prosecutors said CZ told staff it was better to ask forgiveness than permission.
Binance pleaded guilty and paid $4.3 billion. CZ got four months, though prosecutors sought three years. He has since called underestimating compliance his biggest Binance mistake.
Banks have faced criminal cases too. TD Bank pleaded guilty in 2024 after employees helped launderers move money. Prosecutors charged over two dozen people, including two bank insiders.
How US Enforcement Shifted Since CZ’s SentenceIn April 2025, the Justice Department told prosecutors to end “regulation by prosecution” of crypto platforms. It disbanded its national crypto enforcement team.
Six months later, President Donald Trump pardoned CZ. Bank of America now has to pay for an outside review to find suspicious transactions it missed.
