Market Signal Briefing

Equity Lifestyle Properties (ELS - Free Report) came out with quarterly funds from operations (FFO) of $0.75 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $0.72 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this resort community operator would post FFO of $0.69 per share when it actually produced FFO of $0.69, delivering no surprise.

Over the last four quarters, the company has not been able to surpass consensus FFO estimates.

Equity Lifestyle Properties, which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $393.31 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 1.35%. This compares to year-ago revenues of $387.26 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Equity Lifestyle Properties shares have lost about 5.5% since the beginning of the year versus the S&P 500's gain of 14.5%.

What's Next for Equity Lifestyle Properties?While Equity Lifestyle Properties has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Equity Lifestyle Properties was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.80 on $384.99 million in revenues for the coming quarter and $3.06 on $1.55 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Residential is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Armada Hoffler Properties (AHH - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2025. The results are expected to be released on November 3.

This real estate company is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of -25.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Armada Hoffler Properties' revenues are expected to be $67.52 million, down 1.6% from the year-ago quarter.

Selective Insurance (SIGI - Free Report) came out with quarterly earnings of $1.75 per share, missing the Zacks Consensus Estimate of $1.84 per share. This compares to earnings of $1.4 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -4.89%. A quarter ago, it was expected that this insurance holding company would post earnings of $1.55 per share when it actually produced earnings of $1.31, delivering a surprise of -15.48%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Selective Insurance, which belongs to the Zacks Insurance - Property and Casualty industry, posted revenues of $1.35 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.42%. This compares to year-ago revenues of $1.24 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Selective Insurance shares have lost about 10.2% since the beginning of the year versus the S&P 500's gain of 14.5%.

What's Next for Selective Insurance?While Selective Insurance has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Selective Insurance was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.17 on $1.37 billion in revenues for the coming quarter and $7.06 on $5.33 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Property and Casualty is currently in the top 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

HCI Group (HCI - Free Report) , another stock in the same industry, has yet to report results for the quarter ended September 2025.

This property and casualty insurance holding company is expected to post quarterly earnings of $2.35 per share in its upcoming report, which represents a year-over-year change of +400%. The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level.

HCI Group's revenues are expected to be $224.86 million, up 28.3% from the year-ago quarter.

Reckoner Capital Management announced the launch of the Reckoner BBB-B CLO ETF (RCLO) on the NYSE Arca today. The fund debuted with more than $27 million in assets under management.

According to the fund’s prospectus, RCLO aims to generate income while seeking to preserve capital. It primarily invests in a diversified portfolio of Collateralized Loan Obligation bonds rated BBB- and BB.

When speaking about the launch, John Kim, Reckoner’s co-founder and CEO, noted that demand for CLO-focused ETFs remains strong, particularly among investors seeking yield and diversification beyond traditional fixed income.

RCLO carries an expense ratio of 0.50% and is actively managed by Kim alongside Tim Wickstrom and Jared Finsterbusch, who serve as portfolio managers. 

See More: ETF 360: Reckoner’s John Kim on CLOs

From AAA to BB
RCLO follows the July debut of Reckoner’s first ETF, the Reckoner Yield Enhanced AAA CLO ETF (RAAA), formerly known as Reckoner Leveraged AAA CLO ETF, which focuses on the highest-rated portion of the CLO capital structure.

“While most inflows have been directed to the AAA space, BBB- and BB-rated CLOs offer a higher yield than AAA CLOs while still outperforming other credit assets with similar ratings in terms of loss experience,” says Kim. “We expect to see more investor interest in these mezzanine tranches as the market continues to develop.”

Reckoner Capital was founded in early 2025 with backing from private equity firm RedBird Capital Partners. It has positioned itself as a specialist in structured products, particularly CLOs. While CLOs are a longstanding part of institutional fixed income portfolios, they’ve historically been less accessible to retail investors. ETFs like RCLO aim to bridge that gap, offering exposure to structured credit in a liquid, exchange-traded wrapper.

For more news, information, and strategy, visit ETF Trends.

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The FCA has begun a High Court case against HTX, citing alleged FSMA breaches linked to crypto promotions directed at UK consumers, as the regulator advances consultations on governance and financial crime controls.

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Senate Democrats and Republican lawmakers have ended separate roundtable meetings focused on the Crypto Market Structure Bill. They engaged crypto industry leaders, including executives from Coinbase and Ripple, as discussions on the long-awaited legislation intensified.

Senators Push Faster Progress In Latest Crypto Market Structure Talks
According to sources cited by Fox Business journalist Eleanor Terrett, both meetings reflected determination to make faster progress. Lawmakers and industry leaders discussed advancing the Crypto Market Structure Bill after recent bipartisan talks. This builds on earlier efforts such as David Sacks’ meeting with Senate Republicans to accelerate the bill’s progress

The first meeting, hosted by Senate Democrats, began with over 30 minutes of introductions from industry representatives. Each participant outlined key priorities they wanted reflected in the Crypto Market Structure Bill.

Senators cautioned crypto executives not to serve as political allies for Republicans, noting that confidence had been shaken following a recent DeFi proposal leak. They warned that public disputes over negotiations could derail the bill’s progress.

Still, the senators assured attendees that “no slow walking was happening.” They emphasized that they remained committed to delivering comprehensive legislation that addressed the needs of both regulators and innovators.

Republican Session Underlines The Need To Include Regulations On DeFi
During the Republican session, the situation was characterized as ice cold, with bipartisan co-operation proving to be the popular theme. Industry players and legislators agreed that the Crypto Market Structure Bill must be stringent on anti-money laundering (AML) provisions. They also emphasized its need to curb other forms of illegal finance.

The other thing they highlighted was the need to clearly define the meaning of decentralised finance (DeFi). This will help ensure there’s the proposed regulation covers that sector completely.

The discussion produced two concrete recommendations. The first is to concentrate oversight on intermediaries rather than on blockchain protocols. Then, there’s need to have lawmakers and industry leaders review the bill line by line in an extended joint session.

Lawmakers Target Year-End Passage of Market Structure Bill
The meetings come amid mounting pressure on Congress to finalize the Market Structure Bill before the year’s end. As the senators appeared optimistic, development may be quick when the existing disagreements on the DeFi provisions end.

The bipartisan approach and the readiness to reconsider negotiations can be a crucial turn in regulating cryptocurrency in the United States. This is particularly important as upcoming macro events like the next Federal Reserve meeting could influence how markets react to policy directions.

Further contributions to the discussions are bound to be made over the next few days. Legislators would keep refining the final wording of the Crypto Market Structure Bill till it becomes adequate.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

This week, the Ethereum ecosystem has been rocked by a $654 million ETH transfer by the Ethereum Foundation. This triggered intense scrutiny over developer compensation, transparency, and leadership, culminating in the public resignation of core developer Péter Szilágyi and renewed criticism of governance practices.

Simultaneously, Polygon’s AggLayer upgrade has faced launch delays and network instability, intensifying debate about Layer-2 alignment, fragmentation, and the Foundation’s support for external L2s.

These developments, alongside POL token migration volatility, ongoing struggles to balance mainnet centralization with L2 sovereignty, and reaction to the Foundation’s earlier executive restructuring, have added fresh urgency to the disputes over Ethereum’s future direction and the sustainable growth of its scaling ecosystem.

Ethereum family feudEthereum’s scaling architecture underwent a transformation from a technical sidebar to a political economy when Vitalik Buterin praised Coinbase’s Base for “doing things the right way,” weeks after Polygon founder Sandeep Nailwal assumed the CEO role at the Polygon Foundation, issuing warnings about Ethereum’s “existential” layer-2 (L2) direction.

The question emerging from competing visions is whether Ethereum will standardize how L2s earn and settle value, or watch liquidity fragment into parallel systems that route around rather than through the mainnet.

The tension crystallized across three developments in mid-2025. Nailwal took leadership of Polygon Foundation on June 11 amid a strategy reset, positioning the network as more independent from Ethereum’s rollup-centric orthodoxy.

Polygon shipped AggLayer v0.3 on June 23, advancing chain-agnostic interoperability with Polygon PoS, which was slated to connect by the end of the third quarter, but did not happen as of press time.

Buterin’s public endorsement of Base in September reignited debates over whether Ethereum’s leadership favors specific L2s, amplifying earlier friction when Nailwal questioned the low recognition from Ethereum core developers and warned that anti-L2 sentiment could fracture the ecosystem’s social fabric.

Data from L2BEAT shows Arbitrum and Base command the largest shares of value secured on Ethereum layer-2s, with OP Mainnet and Linea trailing.

The Polygon zkEVM remains materially smaller than its Proof-of-Stake chain, both in terms of total value locked and transaction activity.

Dune sequencer profit dashboards reveal that Base and Arbitrum generate the majority of net sequencer earnings after subtracting layer-1 data costs, with Base consistently ranking as a top profit generator through late summer 2025.

Buterin’s 2025 roadmap commentary centers on simplification, mainnet resilience, including privacy improvements, and a layer-2 user experience that relies more heavily on layer-1 security guarantees.

That guidance establishes what Ethereum leadership considers “good L2 citizenship”: canonical fraud or validity proofs, reliance on Ethereum for data availability, and alignment with emerging standards for light clients and shared sequencing.

Polygon’s AggLayer pursues chain-agnostic shared liquidity, positioning the network adjacent to, rather than inside, Ethereum’s rollup orthodoxy.

Its Proof-of-Stake chain is migrating toward zkEVM validium integration, which utilizes alternative data availability layers.

Three paths for fee capture and market structureThe next six to 12 months will test whether Ethereum can standardize value flows across competing layer-2 architectures.

In a soft-alignment scenario with a 50% to 60% probability, the Ethereum mainnet captures 25% to 40% of the layer-2 gross fee revenue as improvements in blob compression and data availability stabilize costs.

Base and Arbitrum retain 60% to 70% of layer-2 net profits, with OP Stack proliferation sustaining Base’s distribution advantage through Coinbase’s on-ramp infrastructure.

Polygon’s AggLayer connects its Proof-of-Stake ecosystem and CDK chains to drive cross-chain liquidity growth. Still, Ethereum-native transaction flows prioritize OP Stack clusters due to canonical settlement guarantees.

POL token performance in this scenario depends on the ecosystem’s breadth rather than rollup orthodoxy credentials.

A fragmentation scenario at 20% to 25% probability sees Ethereum mainnet data-availability revenue underperform as activity shifts to non-Ethereum DA layers, including validiums and alternative availability services.

Layer-1 captures only 15% to 25% of layer-2 gross fees, as competing liquidity centers, such as AggLayer, OP Superchain, and application-specific ZK rollups, split users across incompatible standards.

Maximal extractable value (MEV) smoothing across layer-2s lags technical deployment, worsening user experience during cross-rollup operations.

Polygon gains mindshare with chain-agnostic routing in this scenario, as Proof-of-Stake migration to AggLayer establishes a parallel liquidity hub that is partially decoupled from Ethereum’s social consensus mechanisms.

Re-convergence under Ethereum-first norms carries a 20% to 25% probability, driven by stronger layer-2 minimalism through the use of light clients, fault and validity proofs, and shared sequencing or proposer-builder separation, which also extends to rollups.

Mainnet captures 35% to 50% of layer-2 gross fees as infrastructure standards tighten. Base and Arbitrum consolidate over 70% of layer-2 profit share, with OP Stack standardization and cross-rollup bridging reducing friction for users moving assets between chains.

Polygon tightens Ethereum alignment through ZK proofs and Ethereum data-availability lanes for flagship chains while positioning AggLayer as a user-experience differentiator rather than a sovereignty play that competes with mainnet settlement.

Value capture and distribution dynamicsEthereum investors face a revenue-capture question tied directly to layer-2 architecture choices.

A higher reliance on Ethereum’s data availability (DA) and canonical proof systems increases mainnet fee capture, with blob utilization trends relative to layer-2 compression advances determining whether Ethereum’s toll-road economics expand or erode.

Cross-rollup MEV markets remain nascent, but if Ethereum-aligned proposer-builder separation norms extend to layer-2 sequencers, extractable value flows back to Ethereum validators. Alternative scenarios where MEV concentrates in layer-2 silos reduce the mainnet’s economic gravity.

Layer-2 tokens, including ARB, OP, and POL, derive their narratives from the profitability of the net sequencer, creating sensitivity to monthly profit leaderboards that show Base, operating without a native token, setting user-experience standards that pressure tokenized rollups to justify their value through revenue sharing, grants, or governance power.

Polygon’s investment case improves if AggLayer drives composability that converts to retained liquidity rather than transient bridge volume, independent of ranking as the largest pure rollup by orthodox definitions.

Monitoring AggLayer connection milestones and Proof-of-Stake migration progress provides leading indicators for this scenario.

Builders optimizing for distribution confront a pragmatic calculation where OP Stack and Base infrastructure win near-term user acquisition through streamlined on-ramps and L2 to L2 liquidity routing.

Teams prioritizing user experience and cross-chain operability may outperform those focused on doctrinal alignment debates, particularly as multichain user experiences remain challenging and network effects favor the largest distribution hubs.

Centralization and interoperability as structural forcesCoinbase’s Base receiving public praise from Buterin sharpens debates over corporate influence versus Ethereum’s social fabric, particularly as global regulatory frameworks, including MiCA and FATF guidance, favor KYC-friendly L2s with clear operational entities.

Polygon’s chain-agnostic AggLayer vision competes with OP Superchain and ZK rollup hubs in an interoperability arms race analogous to mobile platform competition, where walled gardens are contrasted with open liquidity meshes.

The Ethereum mainnet is positioned as foundational infrastructure rather than an exclusive settlement layer.

User gravity concentrates in networks that solve multichain pain points, with Vitalik and Ethereum core researchers pushing for a simplified, layer-1-secured L2 user experience.

If user-experience standards unify around common light-client implementations and proof verification, network effects compound advantages for the largest distribution hubs, including Base and Arbitrum.

Polygon’s alternative path depends on AggLayer establishing sufficient cross-chain liquidity, enabling developers and users to opt for composability over canonical Ethereum settlement.

The outcome determines whether Ethereum operates as a standardized settlement layer capturing predictable fees from aligned rollups, or as one option among competing architectures where liquidity and users distribute across networks with varying degrees of mainnet dependency.

Sequencer profit concentration, blob utilization rates, and AggLayer adoption metrics through mid-2026 will clarify which path the ecosystem follows, and whether loyalty to Ethereum becomes a measurable economic parameter rather than a social-layer assumption.

Mentioned in this article

TLDR

Japan’s new Prime Minister Sanae Takaichi has announced an economic stimulus package aimed at mitigating the impact of inflation on households.
The stimulus includes subsidies for electricity and gas bills, as well as regional grants to support wage growth and small businesses.
Arthur Hayes believes the move signals more fiat money printing, which could push Bitcoin to reach $1 million.
Hayes said that the stimulus might lead Japan’s central bank toward monetary easing despite current quantitative tightening efforts.
The Japanese yen fell after Takaichi took office, which added uncertainty to the upcoming interest rate decision.

Japan’s newly appointed Prime Minister, Sanae Takaichi, has announced an economic stimulus plan to support households facing inflation. The package includes subsidies for energy bills and grants to support regional business growth, as well as wage increases. Arthur Hayes, co-founder of BitMEX, believes this move may drive Bitcoin to $1 million.

Economic Stimulus Sparks Bitcoin Outlook
Takaichi’s plan offers financial relief for rising energy costs and promotes wage hikes for small and medium-sized enterprises. The government aims to stabilize household budgets and strengthen domestic demand amid global economic uncertainty. Arthur Hayes responded swiftly, saying, “Let’s print money to hand out to folks to help with food and energy costs.”

Hayes views this move as the beginning of further money printing by Japan’s central bank. He suggested the policy may accelerate Bitcoin’s climb to $1 million. He also noted a potential strengthening of the Japanese yen as a result.

Translation: let’s print money to hand out to folks to help with food and energy costs. These costs rose because we printed so much money before. This is insanity but whatever: $Yen to 200 and $BTC to $1mm. Yachtzee pic.twitter.com/ngF1sOwBYh

— Arthur Hayes (@CryptoHayes) October 22, 2025

Despite the announcement, the yen dropped to a one-week low after Takaichi assumed office. This market reaction created uncertainty about the Bank of Japan’s future interest rate policy. Analysts are still debating the timeline of a projected 0.75% rate hike by early 2026.

Arthur Hayes previously warned that Japan’s return to quantitative easing could trigger a surge in Bitcoin and risk assets. Quantitative easing, or QE, involves injecting money into the economy by purchasing government securities, such as bonds. The Bank of Japan is still focused on quantitative tightening but may reverse course soon.

Takaichi’s pro-stimulus stance may influence the central bank to adopt easing policies. Hayes believes such a shift could be a significant catalyst for Bitcoin’s long-term growth. He has consistently linked monetary policy to digital asset appreciation.

Macro analyst Milk Road Macro also supported this idea, stating that 80% of global central banks are already easing. The expectation that Japan will join them adds momentum to Bitcoin’s bullish outlook. Investors now await the Bank of Japan’s monetary policy meeting on October 29.

Bitcoin Whale Activity Signals Market Confidence
Bitcoin recently rebounded after hitting a four-month low of $104,000 last Friday. Large investors, also known as whales, have returned to trading platforms with renewed confidence. Their actions suggest growing market belief in Bitcoin’s upward trajectory.

Three major whale wallets deposited millions on the decentralized exchange Hyperliquid this week. Whale wallet “0x3fce” increased its Bitcoin long position to $49.7 million. Meanwhile, wallet “0x89AB” opened a $14 million leveraged long position.

These moves indicate bullish sentiment fueled by expectations of future easing in Japan. With economic stimulus in play, Bitcoin’s price action remains in focus. Arthur Hayes’s $1 million Bitcoin prediction is gaining renewed attention across the cryptocurrency community.

Dogecoin is getting hit with another round of sell-offs, but it's still up big in 2025.

Dogecoin (DOGE 5.88%) is pulling back amid another day of bearish trading for the crypto market. The popular meme coin had fallen 5.8% over the past 24 hours as of 5:10 p.m. ET. Bitcoin had fallen 3.1% over the last day, and Ethereum was down 5.1%.

Crypto valuations have continued to waver as investors try to determine what potential catalysts on the near horizon might rejuvenate bullish momentum. While it's likely that the Federal Reserve will serve up at least one more rate cut this year, some rising risk factors have caused investors to adopt more risk-averse positioning.

Image source: Getty Images.

Dogecoin slumps as crypto investors take profits
In the face of macroeconomic and geopolitical risk factors, top cryptocurrencies are getting hit with sell-offs. Big valuation swings in the crypto market are hardly unusual, and leading tokens have recently seen some pronounced pullbacks on the heels of big gains earlier in the year. Bitcoin is still up roughly 61% year to date despite recent pullbacks, and Ethereum is still up 45%. Meanwhile, Dogecoin remains up approximately 35% across 2025's trading, despite some recent sell-offs.

Today's Change

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What's next for Dogecoin?
While inclusion in new exchange-traded funds and increasing integration into cryptocurrency treasury strategies will likely play significant roles in Dogecoin's pricing trends through the remainder of the year, momentum for the broader crypto market could be the biggest factor when it comes to shaping whether the token ends the year above or below current valuation levels.

Along those lines, developments in the trade war between the U.S. and China could play a big role in determining just how much risk investors are willing to embrace. Whether or not the Federal Reserve delivers on hopes for two additional interest rate cuts this year will also play a big role in Dogecoin's pricing trajectory.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

TLDR

Table of Contents

TLDRCitadel’s Combined Holdings in DeFi Dev CorpPerformance and Position of DeFi Dev CorpSolana Treasury Growth and Ecosystem ImpactGet 3 Free Stock Ebooks

Citadel and Ken Griffin have disclosed a combined 4.5% stake in DeFi Dev Corp.
DeFi Dev Corp is a leading Solana Digital Asset Treasury company with significant validator holdings.
Citadel subsidiaries collectively own additional shares in the company totaling several percentage points.
DeFi Dev Corp holds nearly 2.2 million SOL staked as validators on the Solana network.
The company has increased its SOL per share by 375% since initiating its acquisition strategy.

Citadel and its CEO, Ken Griffin, now hold a combined 4.5% share in DeFi Dev Corp. This Solana-focused Digital Asset Treasury (DAT) firm attracted primary institutional backing. The report confirms increased crypto exposure for Citadel through one of the leading Solana treasury companies.

Citadel’s Combined Holdings in DeFi Dev Corp
Ken Griffin directly owns 4.5% of DeFi Dev Corp, while Citadel subsidiaries manage additional exposure. Together, they confirm a strong institutional interest in Solana-linked assets. Citadel Advisors LLC, Citadel Advisors Holdings LP, and Citadel GP LLC together control 2.7% of shares.

In addition, Citadel Securities LLC holds 1.4% of DeFi Dev Corp. Citadel Securities Group LP and Citadel Securities GP LLC collectively control another 1.8%. This ownership pushes Citadel among the top stakeholders in DeFi Dev Corp.

The investment highlights DeFi Dev Corp as a preferred Solana DAT among global hedge funds. “The move indicates confidence in DeFi Dev Corp and the Solana ecosystem,” a market analyst commented. The stake also suggests a strategic long-term bet on the blockchain treasury model.

Griffin and Citadel may qualify for upcoming warrants priced at $22.50. This provides added leverage should DeFi Dev Corp’s stock move higher. It also reflects potential anticipation of growth in Solana assets held per share.

Performance and Position of DeFi Dev Corp
DeFi Dev Corp expanded its SOL per share holdings by 375% since initiating its treasury strategy. It currently holds 0.076 SOL per share. This positions it mid-range among DAT firms, led by Forward Industries with 3.9 SOL per share.

The company holds nearly 2.2 million SOL, locked into validator stakes. This significant stake supports the network while earning passive returns. DeFi Dev Corp currently trades at $14.14, below its peak of $34.25.

Its market NAV (mNAV) sits exactly at 1.0, matching share value to underlying SOL assets. This ratio marks rare stability in a volatile DAT sector. Many similar firms now trade below their net asset value (mNAV) due to waning market enthusiasm.

Despite recent market softness, DeFi Dev Corp maintains strong asset positioning. SOL has fallen to $183.71 amid delays in ETF processing from the US government shutdown. Yet on-chain activity for Solana remains resilient.

Solana Treasury Growth and Ecosystem Impact
Solana treasury companies now hold a total of 20.31 million SOL. Treasury activity has risen over 12% since October 15 as firms bought at price dips. DeFi Dev Corp made a significant contribution to this accumulation.

Around 9 million SOL is staked, including DeFi Dev Corp’s validator holdings. This helps create new validators and decentralize the Solana network. These efforts yield an average of 7.7% for DAT companies.

DeFi Dev Corp plays a central role in strengthening the Solana DeFi ecosystem. Although acquisition pacing has slowed, treasury growth remains consistent. This reinforces the firm’s strategic approach to long-term blockchain asset management.

Kadena has announced a shutdown after running out of funds, though the proof-of-work chain has kept operating. KDA has fallen 77% in a month and over 99% from its 2021 high as exchanges have begun delisting. The team has planned a new binary and a community handover.

In brief
Over the past week, investors been pulling money out of Bitcoin and Ethereum ETFs.
But on Tuesday, they reversed course, putting a combined $618.9 million into the funds.
Experts told Decrypt that crypto markets path forward remains uncertain.
Investors piled back into Bitcoin ETFs and their Ethereum counterparts Tuesday, reversing days of outflows, although the fresh investments failed to give the two largest cryptocurrencies by market value a long-lasting bump. 

The price of the two biggest digital assets has in the past risen significantly when investors have bought shares of the American ETFs. 

Investors sank about $477 million and $142 million into  the Bitcoin and Ethereum funds, respectively, last week, according to U.K. asset manager Farside Investors.

Those funds hemorrhaged more than $1.4 billion in assets last week amid a crypto market slump in which BTC and ETH both dropped by 6%. 

Analysts remain wary of digital assets' future price path as markets reckon with a re-escalation of the Trump administration's global trade war, inflation and economic worries, and other macroeconomic uncertainties. "It's likely too early to tell if this is the bottom though as wider markets are choppy, particularly gold," James Butterfill, global head of research at crypto asset manager CoinShares told Decrypt. 

Gold, the traditional safe haven asset to which Bitcoin is sometimes compared, was down more than 1% on Wednesday a day after the precious metal registered the largest single-day decline in its history. Gold has hit multiple record highs in recent weeks as investors have turned more risk-averse. 

Butterfill said that Bitcoin's "correction, and the subsequent liquidity cascades seen a week ago," are still reverberating through the industry, prompting some crypto-natives to further liquidate, adding that crypto market sentiment was generally bearish. 

Bitcoin's price recently stood at $108,200, down nearly 3% over the past day, according to crypto markets data provider CoinGecko. BTC hit a new high of $126,080 at the start of the month before tumbling last week as investors liquidated over $19 billion in crypto futures positions liquidated.

ETH's price recently stood at nearly $3,821 per coin, down 5% from the same time, Tuesday. Over the past week, it dropped as low as $3,709.

Approved by the SEC last year, the ETFs allow traditional investors and even institutions to buy exposure to the cryptocurrencies via funds that trade on stock exchanges. 

Sumit Roy, senior ETF analyst for ETF.com, told Decrypt that traders may not be finished unwinding their positions, although prices could also rally. 

"The short-term trend—that began with the big liquidation event earlier this month—is down and traders might want to test the technical support in the $100,000 and $3,800 levels for BTC and ETH several times before there's either a sustainable rebound or a sharper move lower," he said.

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Despite the ongoing wave of bearish price action for Cardano (ADA), the token appears to be attracting a notable amount of adoption and attention. Large capital is currently being moved in the leading network and altcoin, particularly from institutional players.

Are Institutions Betting Big On Cardano?
Lately, Cardano is experiencing a fresh influx of capital as the market continues to fluctuate. These massive capital inflows, which are coming from institutional investors, mark one of the most crucial turning points in its market dynamics and trajectory.

Specifically, the growing institutional activity is confirmed in the average transaction size being executed on the blockchain. Mintern, the Chief Meme Officer (CMO) of Minswap and market expert, highlighted that the network’s average transaction amount has increased to over $100,000 in the past 30 days.

According to the meme officer, the large transaction size points to aggressive accumulation from institutional investors or whales. As big investors move more money to ADA, the blockchain‘s reputation as a safe, scalable, and regulatory-friendly network is being further validated. 

Cardan sees huge average transaction amount | Source: Chart from Mintern on X
What this development implies is that confidence in Cardano’s long-term potential is growing. Meanwhile, such a surge in institutional participation underscores the network’s position as a leading contender in the broader and ever-evolving blockchain landscape. Historically, whales’ movements have played a crucial role in price upswings, raising questions about whether smart money investors are positioning ahead of a breakout. 

ADA has displayed notable bullish performance this cycle when compared to other major crypto assets. In another X post, Mintern has shared a chart showing that ADA is now more bullish than Bitcoin, Ethereum, and Solana. 

Cardano is one of the top-ranked assets in the CoinDesk 20 Index, surpassing the three crypto giants following its 6.8% price increase in the last 3 days. Should the altcoin maintain its current momentum, it is likely to trigger its next breakout moment to previous highs. 

Lark Davis foresees a potential 60% surge, as ADA is about to print a daily MACD golden cross below zero. His prediction hinges on a past scenario when this signal spurred a 60% upward increase. While it gears up for the spike, Davis noted that ADA must break past a resistance zone around $0.74 to $0.77. Furthermore, the altcoin must break above a downward resistance line that began in August.

The Blockchain Dominates In Terms Of Community Support
Cardano’s position as the leading blockchain in the crypto sector is also reflected by its strong user base and community support. After its research, TapTools disclosed that the network has moved to the second spot in community support globally, a clear sign of its fast-growing active user base.

Currently, the network is ahead of Bitcoin in this metric. Fueled by developers, stakers, and enthusiasts who are committed to driving innovation within the ecosystem, Cardano’s bullish votes are positioned at 88%. With this high positive support, the blockchain is backed by one of the strongest and most confident communities in the landscape.

ADA trading at $0.63 on the 1D chart | Source: ADAUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com

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Bitcoin steadies at $108,000 as major cryptocurrencies experience notable whale activity and strong ETF inflows.

CryptocurrencyTickerPriceBitcoin(CRYPTO: BTC)$108,129.42Ethereum(CRYPTO: ETH)$3,816.24Solana(CRYPTO: SOL)$181.44XRP(CRYPTO: XRP)$2.38Dogecoin(CRYPTO: DOGE)$0.1915Shiba Inu(CRYPTO: SHIB)$0.059906Notable Statistics:

Coinglass data shows 152,518 traders were liquidated in the past 24 hours for $565.84 million.        
In the past 24 hours, top losers include Aster, Zcash and DoubleZero.
Notable Developments:

Bitcoin, Ethereum Whales Bet On Upside: What Do They Know?
Jim Cramer Calls Crypto ‘Due For A Push’, But Bitcoin’s Price Means There’s A Catch
Bitfarms Down 30% In 1 Week Despite $588M Raise: Will $4 Be Support?
Elizabeth Warren Warns GENIUS Act Could ‘Blow Up Our Entire Financial System’ Without Tougher Rules
Jamie Dimon Just Fed The Cockroaches Of Crypto, Jim Cramer Says
Trader Notes: Crypto chart analyst Ali Martinez notes strong resistance at $119,750. Failure to reclaim this level could push BTC down to $97,130 or even $74,500.

CrediBULL Crypto observed some liquidation above this range, followed by another sell-off, but short-term momentum on lower timeframes still favors an upward path.

Daan Crypto Trades points out Bitcoin is approaching a key area around the daily 200MA/EMA, a trend that has largely held throughout the cycle. Moving averages help gauge momentum and trend strength but are best used alongside other indicators.

Javon Marks highlights that BTC may be in the final stages before a parabolic move, following a two-phase setup seen in previous cycles. The second phase suggests a major bullish surge could be imminent.

Read Next:

Bitcoin Stuck Below $110,000: How Much Upside Has BTC Left?
Image: Shutterstock

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© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

After a sluggish start to the week, crypto ETFs roared back to life. Bitcoin ETFs led the charge with a $477 million inflow, while ether ETFs followed suit with $142 million, signaling returning investor confidence.

Key Insights:

Polkadot eyes a breakout above $3.39, with profit targets set at $4.40 and $4.88.
Crypto.com enables USDT and USDC transfers through Polkadot’s Asset Hub integration.
New partnerships in Brazil and South Korea expand Polkadot’s ecosystem reach globally.

DOT Builds Bullish Structure with Entry at $3.399 and Targeting $4.882 Level Ahead
Polkadot (DOT) is showing early signs of a bullish reversal as traders watch key levels near the $3.39 mark. Market activity suggests that liquidity has been absorbed, setting the stage for a possible upward movement.

Technical Setup Points to Potential Reversal
According to recent analysis, the CISD level at $3.399 serves as a key entry point for traders. The suggested stop loss is placed at $2.900, while the profit targets are set at $4.400 and $4.882. These levels mark potential gains of 29% and 43%, respectively.

The strategy focuses on patience and confirmation. Traders are advised to wait for a retracement toward the CISD zone before entering. “Confirmation is king; don’t front-run the setup,” Crypto Patel emphasized. This measured approach aims to reduce risk and support structured trading decisions.

Potential Reversal | Source: X
Currently, Polkadot is trading at $2.95 with a 24-hour volume of $254.6 million. The token has declined by 6.25% in the past day. Traders are watching for a decisive move above $3.39, which could signal the start of a bullish phase.

Crypto.com Expands with Polkadot Integration
On the fundamental side, Crypto.com has announced a new integration with Polkadot to enhance stablecoin transfers. The exchange now supports USDT and USDC transfers through Polkadot’s Asset Hub, a Layer 1 chain that manages non-native tokens. This update allows users to send stablecoins without needing a DOT balance.

The integration also supports wrapped Ether, KSM, and bridged assets through Snowbridge and the Polkadot–Kusama link. The move strengthens Polkadot’s position in blockchain interoperability and Crypto.com’s global strategy.

Global Partnerships Strengthen Polkadot’s Ecosystem
Crypto.com is also expanding in Brazil and South Korea through local collaborations. In Brazil, the exchange partnered with SpiderTrader, becoming its first fully integrated broker. This allows local traders to connect directly to Crypto.com’s trading engine.

In South Korea, Crypto.com signed an MoU with Travel Wallet to launch a co-branded prepaid card for crypto and fiat payments. The card will also promote Travel Wallet’s KRW-backed stablecoin. These initiatives are expected to improve accessibility for users and support broader adoption.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Crypto analyst Anthony has predicted that the Dogecoin price could rally to $3.25. He also provided a timeline for when the foremost meme coin could reach this price target, which will mark a new all-time high (ATH). 

When The Dogecoin Price Will reach $3.25
In an X post, Anthony stated that the Dogecoin price will reach $3.25 in the next three months. However, the analyst didn’t mention what would serve as the catalyst for this parabolic rally for the foremost meme coin. A potential rally to $3.25 would represent a 1,500% increase from DOGE’s current price.

Meanwhile, this would mark a new all-time high (ATH) for the Dogecoin price, with its current ATH at $0.73. In another X post, Anthony stated that Elon Musk’s Tesla is about to start accepting DOGE and that the meme coin will see a 20x increase from its current price. This indicates that the analyst is banking on this potential move as one of the catalysts for a new ATH for DOGE. 

However, there has been no indication from Elon Musk that Tesla will soon accept DOGE for payments. The world’s richest man has been quiet about the meme coin and hasn’t shilled it since leaving the DOGE agency. Meanwhile, there is also no update on whether Musk’s X payments will enable DOGE payments, which could also be bullish for the Dogecoin price. 

Meanwhile, the potential launch of the Dogecoin ETFs is another catalyst that could spark a significant rally for the Dogecoin price. The SEC is expected to approve these ETFs once the U.S. government shutdown ends. The funds could drive new inflows from institutional investors into the DOGE ecosystem. 

DOGE Preparing For Major Rally
Crypto analyst Ether stated that the Dogecoin price is gathering strength on the uptrend, as it is holding the 25MA support and has successfully completed a falling channel breakout and retest. The analyst added that this pattern remains the same as in the previous two cycles, with DOGE expected to experience an accumulation phase before it records a parabolic rally. 

Source: Chart from EtherNasyonaL on X
The analyst’s accompanying chart showed that the Dogecoin price could rally to $1.9 during this parabolic phase. In the short term, crypto analyst Crypto Kaleo is expecting the DOGE price to reclaim $0.25. He noted that there is a lot of thin air to fill from the market crash a couple of weeks back. DOGE had crashed from $0.2 back then when Trump first announced the 100% tariffs on China, which sparked a crypto market crash. 

Related Reading: Pattern That Led To Dogecoin Price 36,000% Surge In 2021 Has Emerged Again, Will History Repeat?

At the time of writing, the Dogecoin price is trading at around $0.19, down in the last 24 hours, according to data from CoinMarketCap.

DOGE trading at $0.19 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com

Journalist

Posted: October 23, 2025

Key Takeaways
What recent actions has the whale taken?
He moved 3,003 BTC to Binance, increased his short on BTC to $234 million via Hyperliquid, and holds a leveraged short opened at $111,000 with 10x exposure.

Why are traders watching his activity?
His trades suggest a potential market correction, with some expecting Bitcoin could retest $100,000 or lower.

Bitcoin [BTC] has rebounded to $108,300, up 0.49% in the past 24 hours, showing a solid recovery since the 10th of October crash.

However, not all market participants are convinced that the rally has legs.

Bitcoin OG intensifies bearish bet
A well-known Bitcoin OG, who made $200 million shorting BTC during the Trump-China tariff crash, has doubled down on his bearish stance.

Known in crypto circles as the “Trump insider,” this whale has increased his short position to 2,100 BTC, valued at roughly $227 million. This happens as traders debate whether the recent recovery has already peaked.

Source: Arkham

Additionally, on the 21st of October, the investor also placed a new short position of $234 million on BTC via the decentralized exchange Hyperliquid [HYPE], with a liquidation price set at $123,000, as per reports from Arkham. 

This means if Bitcoin’s price rises above that level, the position could face a margin call and be forcibly closed.

Building the short stack
The transaction followed a prior deposit of 200 BTC (approx. $22 million) used to expand the existing short position just a day earlier.

Earlier this week, he further deployed $30 million in Tether [USDC] to Hyperliquid to open a $76 million short, adding to his exposure as Bitcoin briefly attempted a recovery from last week’s sharp decline.

At one point, his combined BTC short exposure reached roughly 3,440 BTC (about $392 million), showing the scale of his influence in Derivatives markets.

The timing of these trades has sparked debate among crypto traders, with many speculating that the whale anticipates another correction, potentially expecting Bitcoin to retest $100,000 or lower.

Market weighs the signal
Now, amid a neutral crypto sentiment with fear and greed at 50 and Bitcoin dominance hovering around 60%, the market is showing a cautious tilt toward BTC over altcoins.

Recent activity in derivatives and increased institutional involvement, especially with products like BlackRock’s Bitcoin ETF, suggest a maturing ecosystem. This development may lead to a reduction in extreme volatility.

However, Bitcoin’s established post-halving patterns and the behavior of long-term holders indicate that price fluctuations are currently mild.

Despite this, there remains potential for significant market movements, which keeps traders and investors attentive.

Ishika Kumari is a Crypto Analyst and Content Strategist at AMBCrypto, specializing in the analysis of cryptocurrency regulations, market trends, and the socio-political impact of blockchain technology.
Her expertise is grounded in her academic background as a graduate of Political Science from the renowned University of Delhi. This discipline has equipped her with a sophisticated framework for analyzing complex governance models, international regulatory landscapes, and the economic principles that underpin decentralized systems.
At AMBCrypto, Ishika applies this unique analytical lens to her work. She excels at breaking down intricate subjects—from the technicalities of new protocols to the nuances of global crypto legislation—into clear, accessible, and insightful content. Her primary mission is to bridge the gap between the complexity of the digital asset industry and the everyday reader, ensuring that AMBCrypto's audience is not just informed, but truly understands the forces shaping the future of finance.

TLDR

The FCA has filed a civil lawsuit against HTX in the High Court of London.
HTX is accused of promoting crypto services to UK consumers without authorization.
The case names four unidentified individuals connected to HTX’s marketing activities.
The FCA stated that the action is meant to protect UK consumers and financial stability.
HTX has been linked to Justin Sun, who serves as an adviser to the platform.

UK regulators have filed a civil lawsuit against HTX, the crypto exchange linked to Justin Sun, in London’s High Court. The Financial Conduct Authority (FCA) accuses HTX of promoting crypto services to UK users without authorization. This legal step strengthens the FCA’s oversight of crypto promotions under its 2023 regulatory regime.

HTX Faces FCA Legal Action Over Promotions
HTX, formerly known as Huobi, is accused of targeting UK consumers with unauthorized financial promotions. The FCA initiated civil proceedings on 22 October, stating that HTX had broken UK promotion rules. The new law requires firms to gain approval before advertising crypto products to UK customers.

The FCA claims that HTX failed to meet these requirements, despite having received earlier warnings in October 2023. The case also names four unidentified people involved in HTX’s operations and marketing. FCA’s statement confirms the lawsuit is aimed at safeguarding financial integrity and protecting consumers.

The lawsuit is the latest in growing scrutiny of Justin Sun’s crypto activities in global jurisdictions. The FCA emphasized, “Any firm promoting crypto to UK consumers must be authorized or have promotions approved.” HTX has not responded to the allegations so far.

Justin Sun’s Link to HTX Brings Added Pressure
HTX has long been associated with Justin Sun, who acts as an adviser to the platform. Justin Sun also claims the title of Prime Minister of Liberland, a micronation that has declared itself. His role continues to draw attention as regulatory actions intensify worldwide.

The FCA has made it clear that links to prominent figures do not shield firms from legal compliance. Justin Sun’s association with HTX places him again at the center of regulatory enforcement. The legal case may force exchanges linked to Justin Sun to reconsider UK operations.

In 2023, Justin Sun also faced a separate lawsuit from the US SEC over alleged unregistered securities sales. Those claims included TRX and BTT tokens, as well as accusations of wash trading. The UK lawsuit now adds to his expanding legal exposure.

TRX Faces Market Uncertainty as Proceedings Begin
The FCA’s case arrives amid increasing efforts to regulate digital asset marketing to UK consumers. TRX, the token associated with Justin Sun’s Tron project, may be impacted by market sentiment. Investors are watching for court updates and HTX’s reaction to the lawsuit.

The High Court will soon outline the procedural steps for the case to proceed. Possible outcomes include injunctions or financial penalties if violations are confirmed. A ruling could reshape how exchanges connected to Justin Sun operate in the UK.

The FCA has warned that additional enforcement actions are likely as oversight expands. Its current focus includes firms making unauthorized promotions to UK users from overseas. This signals broader scrutiny for platforms affiliated with Justin Sun moving forward.

Tesla Booked $80M Profit on Bitcoin Holdings in Q3The company's digital asset holdings were valued at $1.315 billion as of Sept. 30 versus $1.235 billion three months earlier. Oct 22, 2025, 8:18 p.m.

Tesla (TSLA) continued to hold 11,509 BTC, valued at around $1.35 billion as of the end of the third quarter (valued somewhat less as of today).

The rise in bitcoin's value during the third quarter allowed the company to book an $80 million gain on its holdings.

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The electric vehicle manufacturer reported third quarter revenue of $28.1 billion, topping estimates for $26.36 billion. Adjusted EPS (which would not include digital asset gains) of $0.50 was shy of forecasts for $0.54.

Thanks to new FASB rules, Tesla must now recognize bitcoin gains or losses every quarter. Previously, firms were required to mark their holdings down to the lowest value reached during the reporting period.

Shares of TSLA are modestly lower in after hours trading at $434.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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More For You

Coinbase Opens Amex Card With up to 4% Back in BTC for U.S. Coinbase One Members

Max Branzburg said the new card is now open to U.S. users who are members of Coinbase One, offering up to 4% back in bitcoin on every purchase.

需要了解的:

Coinbase says its Coinbase One Card is now open to U.S. customers who are, or become, Coinbase One members at $49.99 a year.Coinbase's new card offers up to 4% back in bitcoin, no foreign transaction fees, and lets users pay their bill from a linked bank account or with crypto held on Coinbase.On Oct. 20, Gemini announced the Solana edition of the Gemini Credit Card with category bonuses, merchant offers up to 10% and optional auto-staking for SOL rewards.Read full story

TL;DR

Coinbase has removed the waitlist for the One Card, giving access to hundreds of thousands of users in the United States.
The card, developed in partnership with American Express, offers between 2% and 4% Bitcoin cashback and allows bill payments with crypto or linked bank accounts, with no international transaction fees.
Available exclusively to subscribers, the card aims to integrate Bitcoin into everyday financial use.

Coinbase has removed the waitlist for its Coinbase One Card, opening access to hundreds of thousands of U.S. users.

The card, created in collaboration with American Express, offers up to 4% Bitcoin cashback depending on how much crypto the user holds on the platform, with a minimum of 2% for all cardholders. Bills can be paid either from a linked bank account or directly with crypto on the exchange, with no international transaction fees.

COSTS OF THE COINBASE ONE CARD
The card is available exclusively to subscribers of the premium Coinbase One service, which costs $49.99 per year or $29.99 per month. The company also offers a basic plan with fewer benefits for $5 per month or $49.99 per year. The exchange reported that early cardholders have deposited over $200 million on the platform to boost their rewards and have spent an average of $3,000 per month.

The physical card includes data from the Genesis Block, the first block created by Satoshi Nakamoto, and its name references the coinbase transaction—the initial record through which new bitcoins are created and assigned to miners. The product focuses solely on Bitcoin, with rewards calculated on all purchases regardless of spending category. Users receive their benefits directly in BTC.

Bitcoin In Everyday Finances
The card features a variable accumulation mechanism, allowing users to increase their rewards as their crypto balances grow. Initial data shows consistent usage, driven by user confidence and growing adoption of the product. The exchange aims to generate subscription-based revenue and strengthen relationships with customers seeking a direct integration of Bitcoin into their daily finances.

With this card, Bitcoin could position itself as a practical, spendable asset in everyday life, offering simple access and direct rewards

In brief
Robinhood signaled that it would list BNB on its platform.
The Binance-linked token is valued at $149.5 billion.
Coinbase signaled support for the token not long ago.
Robinhood unveiled support for BNB on Wednesday, making the fourth largest cryptocurrency by market capitalization available to customers on its platform in the U.S.

The announcement, which has been viewed more than 530,000 times on X, follows a similar nod from Coinbase a week ago. The San Francisco-based firm said that the Binance-linked token had been added to its listing roadmap, with trading going live on Wednesday as well.

Although Coinbase lists hundreds of assets on its platform, Robinhood has offered fewer since it started supporting crypto in 2018. On Wednesday, Robinhood users could access roughly 41 cryptocurrencies for trading in the U.S. through its mobile app.

https://x.com/CoinbaseMarkets/status/1981071486770192877

Binance is the world’s largest cryptocurrency exchange by trading volume, but the token that it offered through an initial coin offering in 2017 has been historically difficult for Americans to access. Rival Kraken, for example, began supporting the token only in April.

BNB changed hands around $1,070 on Wednesday, a 2.1% drop over the past day, according to crypto data provider CoinGecko. The asset’s price has fallen 22.3% from an all-time high of $1,370, which was set less than ten days ago.

Shane Molidor, founder and CEO of Forgd, a platform that helps connect crypto startups with market makers, told Decrypt that listing BNB is in Coinbase and Robinhood’s best interest, despite how that may benefit their biggest competitor.

“It is so well established within global web three communities that an exchange would be doing themselves a disservice by not supporting trading of that asset,” he said of BNB, positing that widespread support could indicate the industry is maturing.

Unlike traditional exchanges, which primarily match buy and sell orders, crypto exchanges serve multiple functions, Molidor noted. That includes safeguarding customer assets, as well as the perception that crypto exchanges serve as gatekeepers for tokens.

“Unfortunately, for exchanges, in many instances, they’re perceived as investment advisors by their communities,” Molidor said. “What they list is perceived as a stamp of approval from the exchange that this asset has high potential and upside.”

Coinbase is “establishing its maturity as an unbiased, two-sided marketplace” by supporting BNB, Molidor said. It also prevents a Coinbase customer from needing to tap an alternative platform to trade one of the largest cryptocurrencies by market capitalization, he added.

“If an asset has widespread decentralization, real utility, and a high valuation, they must list it,” Molidor said. “And I think that’s what they’re showing.”

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Trading frenzy drives stock nearly 500% higher Wednesday, after the shares plunged last week on debt deal.

Vancouver, British Columbia--(Newsfile Corp. - October 22, 2025) - Pacific Booker Minerals Inc. (TSXV: BKM) (OTC Pink: PBMLF) has submitted some core samples from the drilling done on the Morrison Project for analysis to confirm the presence of Critical Minerals. Results of previous analysis of samples confirmed the presence of 2 Critical Minerals--Copper and Molybdenum.

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