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SkyAI has turned a treasury built around SOL into cash for a tender offer. Its latest SEC exhibit says it no longer holds the token, yet its description of the business still includes a financial platform on Solana. The transaction leaves a concrete question for shareholders who bought a stock marketed as a way to own more SOL per share. What business and assets would they own if they decline $3 in cash?

Summary

SkyAI said on October 19 that it held $223.8 million in cash and no SOL as of October 16. The tender seeks up to 67.1 million shares and warrants at $3 each, or roughly $201.3 million. Eligible holders have until October 29 to tender unless SkyAI changes the deadline. The offer covers up to 95% of each of four eligible security classes. Bastion Trading has demanded a tender price of at least $3.50 per eligible security. SkyAI has completed the sale of its Solana treasury and started a cash tender offer that could buy up to 95% of its shares and three classes of warrants. Its October 19 SEC exhibit reports $223.8 million in cash and no SOL as of October 16. The company offers $3 per eligible share or warrant, with a maximum cash purchase price of approximately $201.3 million if the offer is fully subscribed.

The number is large against the assets left on the balance sheet. Dividing the maximum $201.3 million purchase price by $223.8 million cash gives approximately 89.9%. That calculation does not predict what will be spent. The tender has minimum participation conditions, individual holders can decline, and the company must pay fees and retain enough resources for any continuing operations. The filing puts the decision in front of four different classes of owners, not only holders of ordinary stock.

The SOL position disappeared in stages The transition did not happen in one disclosed trade. SkyAI said in its October 11 announcement that it had sold approximately 1 million SOL, roughly half of its then reported holdings. An October 14 update put the remaining position at around 210,000 locked SOL and $204.6 million in cash. By the October 16 measurement used in the October 19 release, the company reported no SOL and $223.8 million cash. The records establish a sequence of shrinking holdings, but they do not supply a complete execution ledger of each token sale, price and trading venue.

The initial sale of roughly 1 million SOL, covered by crypto.news last week, was part of the announced funding plan for a tender. The October 19 update went further by saying the rest had been sold. The company says the new offer is no longer conditioned on the SOL price, a condition it had initially expected to include when announcing the proposed transaction on October 11. Holding no SOL removes that particular market condition from the offer terms, although other conditions remain.

SkyAI began its Solana treasury strategy under its former name, Sharps Technology. In August 2025, it raised more than $400 million in a private placement tied to building a corporate SOL reserve. At the end of 2025, the firm reported approximately 2.08 million SOL with an aggregate cost basis near $403.1 million and a year end fair value around $250.1 million. Those are accounting reference dates. They are not the price or proceeds realized from the sales in October 2026.

The difference between a cost basis and later sale proceeds requires care. Staking rewards, additional purchases, disposal dates and changes in token price can change the total. Multiplying an old token count by today’s market quote would produce a hypothetical value, not the amount the company received. The October 19 cash balance contains the proceeds left after sales alongside any preexisting cash and subsequent movements. Neither it nor the original capital raise alone reveals realized profit or loss on every SOL lot.

SkyAI described a Solana treasury holding more than 2 million tokens as recently as September 14, according to the sequence of company disclosures cited in Bastion Trading’s October 14 letter. Bastion asked for transaction dates, quantities, average realized prices, gross and net proceeds, costs and the authorization process. Those are requests from an interested shareholder, not findings that management violated a disclosure rule. The updated release confirms a complete exit but does not provide the trade by trade account Bastion demanded.

The tender has four separate participation tests SkyAI offers to buy up to 48,311,489 common shares, 4,880,734 cash pre funded warrants, 9,939,850 cryptocurrency pre funded warrants and 3,955,293 strategic warrants. Together the ceilings total 67,087,366 securities. At $3 apiece, the simple product is $201,262,098, which rounds to the company’s stated $201.3 million maximum before the small exercise price adjustment for warrants. The actual amount accepted depends on participation and the conditions in the offer documents.

Each ceiling represents 95% of its class. A holder of a warrant need not first exercise it into a common share to tender, according to the company. Eligible warrants carry an exercise price of $0.0001, which the tender deducts from the $3 purchase price. Treating every warrant as an ordinary share would blur the rights and the different historical paths by which the instruments were issued. SkyAI says holders should consult the full offer materials for the procedures applying to their securities.

The minimum conditions are not one combined vote. At least 50% of the shares offered for tender must be tendered for the common share offer. For the two pre funded warrant classes, SkyAI combines them for a minimum of 50% of those offered. Strategic warrants have their own 50% minimum. The company states that satisfying one class’s threshold does not itself satisfy another. If more than 95% of a class is properly tendered and not withdrawn, acceptance would be prorated within that class.

Those details change how a holder should interpret the headline “buyback.” The company cannot simply assume it will spend $201.3 million. It could purchase a smaller number if fewer eligible securities are offered, provided the applicable conditions are met or lawfully changed. It could face a failed condition in one class while another class reaches its threshold. Holders may withdraw submitted securities before the offer expires. SkyAI says it will pay promptly after expiration for accepted securities, with applicable taxes withheld and without interest.

The expiry is one minute after 11:59 p.m. New York City time on October 29, unless the company extends or terminates the offer earlier under its terms. Broker held securities may require the beneficial owner to give instructions to an intermediary ahead of the public deadline. The company directs owners to the offer to purchase and transmittal documents, not just the press release. Its Schedule TO materials describe tender procedures and withdrawal rights in fuller detail.

The arithmetic behind the $3 price SkyAI describes the $3 purchase price as approximately 0.95 times its measure of net asset value. Its October 19 footnote multiplies $3 by approximately 70.6 million shares and warrants outstanding, then divides the result by $223.8 million net cash. The numerator is $211.8 million. Dividing by $223.8 million gives approximately 0.946, which rounds to 0.95. The denominator in that company calculation is a cash figure, not the fair value of a live SOL position, because it says there is none.

The roughly 70.6 million diluted count is different from the 67.1 million maximum tendered securities. The offer seeks 95% of each eligible class, while the company uses the broader outstanding amount for its mNAV calculation. A comparison that multiplies $3 by the tender maximum and divides by the whole cash pile answers a different question, namely the maximum potential cash outlay as a share of reported cash. It does not reproduce the company’s price to net asset value multiple.

Dividing $223.8 million cash by 70.6 million securities yields about $3.17 per security before other balance sheet items and any adjustment to the denominator. The $3 tender is roughly 17 cents below that simple cash per diluted security figure. Company mNAV is a defined presentation, not a guarantee that a shareholder can demand $3.17. Liabilities, operating costs, other assets, security rights and transaction expenses require the full financial statements and offer documents for a more precise liquidation comparison.

Bastion’s demand for at least $3.50 was published before the completed sale and based in part on a then estimated net asset value of around $3.30 that used a $110 SOL assumption. A figure calculated while hundreds of thousands of tokens remained cannot be applied without adjustment after the company sold all SOL. Bastion’s price demand remains its stated position; SkyAI’s later cash footnote supplies a different date and accounting basis. A direct comparison should state both dates and inputs, not select whichever figure supports one side.

A shareholder is challenging price and governance Bastion Trading says it and affiliates beneficially own approximately 9.99% of SkyAI’s common stock. Its October 14 open letter said it would not tender under the announced terms unless its concerns were addressed. It requested a price of at least $3.50, fuller detail on token disposals, changes to the board and exclusion of strategic advisor warrants from the tender. The letter criticized related party arrangements and asked for an independent committee to oversee the offer.

The company’s October 19 release does not adopt Bastion’s proposed $3.50 price or remove strategic warrants. The board has approved the tender but expressly makes no recommendation as to whether any shareholder or warrant holder should participate. Bastion’s disagreement therefore remains a dispute between a shareholder and the company’s disclosed terms. Allegations and objections in its letter should be attributed to Bastion; they are not findings by a court or regulator.

JUST IN: Bastion Trading calls for SOL treasury firm SkyAI to replace its board

The nearly 10% shareholder says every director received more withheld votes than support last week and is seeking an independent review of related-party deals, with possible legal action if SkyAI… pic.twitter.com/Gih0KiVjB1

— crypto.news (@cryptodotnews) September 30, 2026 The governance argument is tied to a September annual meeting. Bastion says every one of five incumbent director nominees drew more withheld than affirmative votes, and it points to the rejection of a proposed 2026 equity incentive plan. Under the company’s plurality election standard, withheld votes did not automatically vacate those board seats. Bastion treats the result as a rejection of the board’s stewardship. A legal change in control cannot be inferred from the withhold tally alone.

SkyAI’s offer has an immediate financial defense on its own terms. It has reported sufficient cash to cover the stated maximum consideration without borrowing, subject to fees and business needs. The release says there is no financing condition. It has removed the initially contemplated SOL price condition after exiting the token, so the offer no longer depends on a token price threshold. These changes address uncertainty that existed when the company still had to sell SOL to assemble cash.

The opposing case remains substantial. A holder who thinks the post tender business or its cash is worth more than $3 per security might decline. A holder who values a defined cash exit could tender. The exact answer depends on a person’s security class, tax position and the final offer terms; the company itself does not recommend either decision. The share market’s prevailing price can move as investors weigh the terms, and market price does not establish the eventual payout for securities not tendered.

What happens to owners who stay SkyAI says its common stock will remain listed on the Nasdaq Capital Market and registered under the Securities Exchange Act after the offer. That statement describes its intention, not a guarantee about the number of shares ultimately held by the public or future exchange compliance. If a large portion of shares is accepted, ownership concentration and the stock’s trading float can change. The release does not say the company plans to delist or go private.

The company describes its continuing project as a financial platform combining stablecoin rails on Solana with artificial intelligence. Selling the treasury does not by itself mean it has stopped planning to use Solana infrastructure. But a business built on payments or software has different economics from holding and staking millions of SOL. Revenue, customers, development costs and product status would become the relevant disclosures. The October 19 tender release does not quantify the platform’s customers or provide a stand alone forecast for its operating cash needs.

There is a cash constraint in the upper end of the offer. Starting from $223.8 million and subtracting the full $201.3 million maximum leaves approximately $22.5 million before tender fees, transaction expenses, working capital changes and other liabilities. This is arithmetic, not a post tender cash forecast. A less subscribed offer would use less cash. A company spending close to the maximum would have to run any continuing operations from the residual resources and future financing or revenue, none of which can be projected from the release alone.

The full tender documents say the offer is not conditional on outside financing. That is a statement about the funding source, not a statement that the remaining company cannot seek money for another purpose later. Nor is a buyback automatically accretive to each continuing holder. The result depends on price paid relative to the value of the assets and earnings remaining after the purchase, the count of securities retired, expenses and the claims represented by outstanding warrants.

A cash rich company trading below a plausible asset value can argue that a buyback returns capital to investors willing to exit while reducing the outstanding count. Bastion argues that the price and eligible securities treat holders unfairly. The filing settles neither valuation judgment. It supplies a fixed offer price, maximum size and conditions that allow the arguments to be checked against the completed participation and financial reporting later.

SkyAI is an outlier among SOL treasury peers Other listed Solana treasury companies still report token holdings and staking or validator activity. DeFi Development’s purchase program had taken its reported holdings to around 2.33 million SOL by late August. The figure belongs to that company’s own date and accounting, not SkyAI’s October balance. A peer’s continued accumulation cannot show that SkyAI should have held or sold at any particular market price; capital structures and shareholder demands differ.

JUST IN: DeFi Development Corp. adds 26,203 $SOL to its treasury

The purchase brings the company’s total Solana holdings to 2.56 million SOL and equivalents. pic.twitter.com/iIMgvefvlL

— crypto.news (@cryptodotnews) October 5, 2026 Another peer, Solana Company, reported a $30.3 million quarterly loss despite staking gains in its second quarter. That company’s reporting period and strategy are distinct, but the combination shows why staking revenue alone cannot establish a treasury vehicle’s profitability. Asset remeasurement, financing, expenses and the share count are all part of the financial result.

SkyAI’s complete exit does offer a useful comparison with a digital asset treasury model. A company can raise stock capital to buy tokens, earn staking revenue while holding them and later sell tokens to fund a share purchase. The price paid to acquire SOL, staking rewards earned and the sale prices each affect the net result, while shareholders experience the stock price and dilution separately. A gain in SOL units per share is not the same calculation as cash returned per security in a tender.

The company previously reported more than $12 million in staking revenue net of validator commissions from the launch of its strategy in August 2025 through June 30, 2026, according to its financial disclosures cited in the October treasury sale report. The metric ended months before the final October sales. Staking income is a real component of the strategy but cannot be subtracted directly from the difference between a historical cost basis and a current cash balance without an accounting reconciliation.

JUST IN: Forward Industries raises $25 million to expand its Solana treasury

The company will sell 3.125 million shares at $8 each to an institutional investor, using the net proceeds to acquire more $SOL and increase its SOL holdings per fully diluted share. pic.twitter.com/NNg4bqAExx

— crypto.news (@cryptodotnews) September 23, 2026 The offer’s 95% ceiling creates another difference from a simple company liquidation. It permits a substantial return of cash to accepting owners while leaving a public corporation and at least a residual class of securities. Owners who remain will hold claims on a smaller entity with a different asset mix. The company has not released a completed tender result, so the final count of securities and cash left cannot yet be stated.

A full tender would leave a much smaller share float The offer to purchase gives a share count that is more precise than the rounded mNAV denominator. SkyAI had 50,854,199 common shares issued and outstanding as of October 14. If the company bought its full 48,311,489 share allotment, the document estimates 2,542,710 common shares would remain immediately afterward. That calculation is 5% of the original common count, rounded to whole shares. It is a maximum scenario, not a forecast of how many owners will accept.

The reduction could have implications for trading even if the ticker stays on Nasdaq. Fewer freely traded shares may mean different daily volume and wider spreads, depending on how many owners tender and who keeps the remaining shares. The company makes completion conditional on determining that a purchase is not reasonably likely to cause delisting. That condition sits alongside its stated intention to remain listed. It also means the maximum 95% case should not be described as an unconditional commitment to purchase all shares tendered up to the cap.

Officers and directors may participate on the same basis as other holders, according to the offer document. Those who do not tender would see their proportional ownership rise if outstanding shares are retired. Bastion asked instead that directors, officers and certain affiliates refrain from tendering. The published offer includes no such general exclusion. The potential change in relative ownership is arithmetic, but whether a specific insider tenders will require later disclosure or a completed offer result.

The warrant counts matter to the residual entity as well. At October 14, the company listed 5,137,615 cash pre funded warrants, 10,463,001 cryptocurrency pre funded warrants and 4,163,467 strategic warrants. Full take up of each 95% cap would leave a residual 5% of each class, subject to rounding. The common share count by itself does not describe all possible future share claims. Warrants may carry exercise and beneficial ownership limits, and the legal rights of each class are set by its issuance agreements.

SkyAI says none of the three eligible warrant classes trades on a national securities exchange or other market. Its common shares closed at $2.55 on Nasdaq on October 14, according to the offer document. The $3 tender was 45 cents above that dated close, roughly 17.6% when calculated against $2.55. A historical premium does not tell a holder the stock’s price today or after the offer. The company specifically urges owners to obtain current quotations before deciding what to do.

The tender document provides a schedule for results. It expects to announce preliminary figures, including possible proration, on the next business day after the expiration. Final proration and payment would follow. An owner who tenders cannot assume immediate cash on October 29, because the terms require verification of the securities submitted and calculation of accepted amounts. The company will deposit the aggregate payment for accepted securities with its depositary, which transmits proceeds to holders.

The offer exposes two kinds of shareholder choice An owner can sell stock on the open market, tender it to the company or retain it. Those are not economically identical actions. Open market execution happens at the available bid or ask during trading, subject to brokerage costs. The tender offers a stated $3 price if the relevant conditions are satisfied and the shares are accepted. Retaining the stock leaves exposure to the operating company, its remaining cash and later financing or business decisions. The company and its board do not tell owners which path to take.

The tender’s federal tax discussion says a U.S. holder receiving cash generally has a taxable transaction. Treatment can depend on the owner’s circumstances and the relevant ownership rules; the offer directs holders to tax advisers. This is why the $3 gross payment should not be described as identical to after tax proceeds. A registered holder tendering directly to the depositary would not pay a brokerage commission for that submission, while a holder acting through a broker may face an intermediary charge under the published procedures.

There is a time dimension to the choice. The securities can be withdrawn before the deadline, and an extension can move that deadline. The offer’s conditions can be amended subject to applicable rules. A share sold into the market ordinarily settles under the ordinary brokerage process and does not depend on a minimum tender by a different class. A tendered share remains exposed to whether the offer closes and how the class’s 95% cap is applied.

The cash destination raises a separate capital allocation issue. Paying close to $201.3 million would hand funds to exiting security holders. Keeping more cash would leave a larger balance available to the continuing platform but provide fewer owners with a corporate cash exit. SkyAI’s filing supplies the offer’s maximum and current funding; it does not publish a forecast that values each alternative. Bastion favors a higher tender price and different participation rules. Shareholders may disagree for reasons that cannot be inferred from a single stock quote or SOL’s market price.

The company says its cash is sufficient and the offer has no borrowing requirement or financing contingency. Because it has already sold SOL, a fall in SOL’s price after October 16 would not directly reduce the reported token reserve; the reserve is zero. It could still affect investor views about the Solana based business SkyAI says it wants to build. Such an effect is a possible market reaction, not a direct arithmetic change in the cash balance disclosed for October 16.

The next filings can answer questions the release cannot An amended offer document could change the price, deadlines or conditions. SkyAI’s October 19 release fixes the terms currently announced, subject to the offer to purchase and any later amendments. Acceptance and proration figures will be needed after October 29 to tell how much cash actually leaves the company. The company’s subsequent financial statements can supply sale proceeds, realized gains or losses and an updated operating balance sheet.

Transaction transparency is a separate issue from the tender result. Bastion requested the exact sales dates, quantities, average realized prices and costs. The company has confirmed a completed sale and two cash snapshots, but those snapshots alone cannot reconstruct each SOL disposal. A comprehensive accounting may arrive through an amended filing or later periodic disclosure. In the meantime, attributing a particular sale price to the October exit would be guesswork.

The business description needs similar care. A proposed Solana based stablecoin platform is not the same asset as SOL held in treasury. A later customer contract, live product disclosure or revenue statement would establish what the new operating model produces. Today, the completed action supported by the October 19 exhibit is the sale of all SOL and the start of the cash offer. The document leaves $3 per security in place, includes strategic warrants and sets separate minimum tender conditions for the classes of securities it seeks.

What to watch October 29 deadline: Confirm any extension or amendment to the tender before the published New York expiry. Participation by class: The 50% minimum conditions apply separately to shares, combined pre funded warrants and strategic warrants. Final cash use: Accepted securities, proration and fees will determine how much of the $223.8 million balance remains. SOL sale details: Dates, quantities, prices and costs would allow an actual reconciliation of the treasury exit. Operating disclosures: Customer, revenue and expense data will show what SkyAI’s proposed Solana platform consists of after the treasury sale. FAQ Does SkyAI still own any SOL? Its October 19 SEC exhibit says it had completed the sale of all SOL as of October 16, 2026. The same release reported around $223.8 million cash at that date.

How much is the company offering to pay? SkyAI offers $3 for each accepted share or eligible warrant, subject to a $0.0001 exercise price deduction on warrants. Full subscription would cost roughly $201.3 million before related expenses.

What is the deadline for the SkyAI tender? The offer is scheduled to expire one minute after 11:59 p.m. New York City time on October 29, 2026, unless extended or terminated earlier. Broker held securities may need earlier instructions.

Are all shares guaranteed to be accepted? No. SkyAI seeks up to 95% of each eligible class. If more than that proportion is properly tendered in a class, the company plans to prorate acceptances within that class.

What does Bastion Trading want changed? Bastion has asked for a price of at least $3.50, detailed SOL sale disclosures, board changes and exclusion of strategic advisor warrants. Those are the shareholder’s demands, not announced changes to the offer.

Did SkyAI remove the SOL price condition? Yes. The October 19 release says the offer is not conditioned on SOL’s price because the company no longer holds the token. Other tender conditions remain.

Will SkyAI go private after the tender? The company says it intends to keep its common stock listed on Nasdaq and registered under U.S. securities law. The actual number of accepted shares and resulting public float have yet to be determined.

How much cash will be left after the offer? If SkyAI pays the stated $201.3 million maximum from its reported $223.8 million, the arithmetic difference is $22.5 million before expenses and other movements. The actual residual depends on participation and costs. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of October 20, 2026.

Solana Price Prediction Ahead of Tomorrow’s Alpenglow Launch: Is $90 or $110 Next?

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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2 hours ago

According to Lookonchain's monitoring, trader Jelitics traded 12 meme coins on the Solana blockchain, all of which ended in losses, resulting in a 0% win rate and total losses exceeding $1 million. He has now sold all his meme coin holdings.

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1 hours ago

Real World Assets (RWA) platform tx has launched USTX, a U.S. dollar stablecoin, for use on its wallet and upcoming tokenized stock trading marketplace. Users can mint USTX using USDC or redeem USTX back to USDC, with support for deposits from 8 blockchains including Ethereum, Solana, and Base. USTX is issued, its reserves managed, and minting and redemption services provided by fintech platform Brale. tx co-founder and chief legal officer Ashley Ebersole stated that USTX is not a USDC-backed wrapped token nor a synthetic representation of USDC, but instead features an independent 1:1 reserve structure. According to tx, each USTX is backed by $1 worth of assets including cash, bank deposits, government money market funds, and short-term U.S. Treasuries. tx added that eligible USTX users can earn rewards via its wallet incentive program. However, the U.S. GENIUS Act prohibits stablecoin issuers from paying interest or returns to users solely for holding, using, or retaining payment stablecoins. Ebersole said tx’s overall incentive program was designed under legal guidance to ensure compliance with relevant regulatory requirements.

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IOST 네트워크 계열 디지털 자산 입출금 일시 중단 안내 (10/21 12:00 ~)

Shiba Inu (SHIB) has slipped below the psychologically significant $0.000005 threshold, trading at $0.00000495, as technical indicators on multiple timeframes point to sustained bearish pressure.

Key resistance and support levelsOn the daily chart, SHIB attempted to break higher in late September, rising toward $0.00000625. However, the upward move was cut short near the 200-day moving average, which remains at approximately $0.00000560. Since this failure, SHIB’s price has fallen through several important moving averages—including the 50-day, 100-day, and 20-day—now positioned between $0.00000526 and $0.00000545. These levels, once support, have now turned into resistance, blocking meaningful upward movement.

The nearest major support is around $0.00000480. If SHIB closes below this area, the price could move toward $0.00000440, deepening the decline. The daily Relative Strength Index (RSI) stands near 40, signaling a weak market but not yet an oversold scenario. Meanwhile, trading volume has declined, suggesting neither buyers nor sellers are currently dominating the market.

LevelPriceStatusDaily resistance (200-day MA)$0.00000560ResistanceShort-term resistance range$0.00000526–$0.00000545ResistanceImmediate support$0.00000480SupportNext support$0.00000440Potential supportMini dictionary: Moving average (MA), a widely used technical indicator in financial markets, calculates the average value of a security’s price over a specific number of periods. Traders use it to identify trends and potential support or resistance levels.

Short-term trends and momentumThe 4-hour chart backs up the bearish outlook, showing a well-defined downtrend since October 7. Each attempt to rise has stalled below key moving averages, which are now sloping downward and reinforcing the negative sentiment. The black 200-period average is near $0.00000536, and the orange 100-period average sits close to $0.00000526. Even the short-term green moving average at $0.00000502 has acted as resistance.

After falling to $0.00000480 on October 19, SHIB managed a weak bounce, but the momentum failed to carry the price through the nearest resistance. The 4-hour RSI hovers around 45, a neutral level indicating neither side currently holds an advantage. For positive momentum to return, SHIB would need to achieve a 4-hour close above $0.000005, marking the first step toward recovery.

Long-term range and trendWeekly analysis highlights the ongoing downtrend that has shaped SHIB’s price action since early 2025. All significant moving averages remain in downward trajectories. The 200-week moving average, represented by the black line, is located at $0.0000114, which is substantially higher than the present value.

In July, SHIB created a bottom near $0.00000405 before trading within a sideways range between $0.00000450 and $0.00000650. Current weekly candles are red, pointing toward renewed weakness and bringing prices closer to the lower part of this established range. The weekly RSI is about 45, and volume at these levels is notably subdued, indicating diminishing trader interest.

Outlook: Key price areas to watchFor bullish traders, reclaiming $0.000005 and then moving above $0.00000526 are critical milestones to shift sentiment. On the downside, a decisive break under $0.00000480 could open the door to retesting July’s lows and potentially extend the current slump. Until SHIB establishes support above its closely watched averages, the dominant trend remains to the downside across daily, 4-hour, and weekly perspectives.

Should SHIB fail to hold $0.00000480, the decline may accelerate toward $0.00000440, underscoring sellers’ control until the price decisively reclaims previous support levels.

As Quant’s price [QNT] remains stuck near $195, it appears that the continued downward trend is too strong to recover from. Since plummeting from nearly $300 in late September, Quant has given back most of what was recovered. This simply means current buyers are now trying to protect the lower end of the support zone around $191-$195.

However, each rebound seems to stall before breaking through the downward trend line, suggesting that numerous sellers were willing to sell the lows.

Source: TradingView
If Quant holds above $191, then it could create enough stability to allow buyers to test psychological resistance at $200. A successful test at $200 should give enough momentum to begin to challenge the horizontal resistance just north of $220.

On the other hand, a closing price below $191 could trigger more selling. In turn, this could lead to more declines and ultimately less investor confidence in a quick turnaround.

Quant’s recovery faces a participation problem as traders reduce exposure following September’s breakout. As shown below, Open Interest (OI) is now settling in between $100 and $104 million, and daily spot volume is ranging between $28 and $55 million.

At press time the Spot Volume had declined by 21%, standing at $55.89 million.

Source: CoinGlass
The reduction in fresh trade volume means that there are fewer people available to buy into any sustained buying. Hence, any rebound could be short-lived due to continued selling.

Although Funding Rates appear to be slightly higher than normal, it indicates that many investors are still taking long positions without too much leverage.

The next test is at $206-$215, and at this point, QNT will require stronger buying power to be able to overcome resistance. If successful, a volume-backed breakout could unlock $220.20 and $252–$258, while weak demand risks prolonging the recovery.

Rising Bitcoin dominance puts QNT under pressure
Meanwhile, QNT’s recovery is facing further issues based on increasing Bitcoin dominance and investors turning towards Bitcoin [BTC] over altcoins. Bitcoin dominance has risen over 60%. Only 40-52% of altcoins were currently above their 200-day MA.

With shrinking participation in the market, QNT is becoming more exposed to selling pressure, especially considering how far its price has fallen. If the $191 support zone is broken, then QNT will most likely fall towards $180-$182 before buyers can try to regain control.

A deeper decline could bring out prior levels at $145, and therefore QNT’s downside risk goes well beyond just the price structure. Unless altcoin demand improves, weakening market breadth could undermine recovery attempts and prolong the correction.

Final Summary

Quant risks deeper losses if buyers fail to defend the $191 support level.

QNT needs stronger demand to reclaim $215 as Bitcoin dominance above 60% pressures altcoins.

MoneyGram Makes Another Big Blockchain Move With XDC Network

SharpLink (Nasdaq: SBET) has confirmed its first major onchain deployment, $200 million with Ether.fi and $200 million with Lido Finance, with Anchorage Digital serving as custodian for both positions.

The Nasdaq-listed Ethereum treasury firm shared the news via its official X account on October 19, 2026, describing the move as putting its ETH “to work every day.”

The SharpLink ETH deployment marks a shift from passive accumulation to active, yield-generating onchain strategy, a benchmark the company says others in institutional finance can now follow.

From Treasury Build to Active Yield: Inside the $400M Onchain Strategy SharpLink’s treasury thesis has been consistent since the company pivoted to an Ethereum-first model. Accumulate ETH. Make it productive. Compound yields. Increase ETH per share.

The $400 million SharpLink ETH deployment is the clearest execution of that thesis yet.

Anyone can own $ETH. We know how to put it to work.

Over the last year, Sharplink has done roughly $500M worth of deals to put ETH to work across the ecosystem.

These include staking deployments, a dedicated onchain yield fund, and investments for the teams leading Ethereum’s… pic.twitter.com/Ecjuz7n6wn

— Sharplink (@Sharplink) October 19, 2026

The Lido allocation fulfils a plan announced in August 2026. Under that arrangement, SharpLink stakes $200 million and receives wstETH, a liquid token that earns staking rewards while remaining deployable in DeFi, custodied by Anchorage.

CEO Joseph Chalom described the move then as “an exciting expansion in making our ETH even more productive.”

Lido holds roughly $16.5 billion in staked ETH, with wstETH integrated across more than 100 protocols. That scale, and the infrastructure around it, made Lido the natural partner for institutional-grade staking.

The Ether.fi allocation extends a separate line of work involving liquid restaking and weETH instruments.

Both positions sit inside a public-company balance sheet with Big 4 audit oversight, a structure SharpLink has consistently highlighted as the institutional standard.

This latest move builds on a longer capital deployment effort. In early August, SharpLink committed $100 million of its staked ETH to the Galaxy SharpLink Onchain Yield Fund, a $125 million vehicle Galaxy manages to pursue onchain yield strategies and emerging protocol investments.

Mike Novogratz, CEO of Galaxy, said the launch reflects institutional investors moving “from passive ownership toward active participation in blockchain-based markets.”

SharpLink now reports institutional ownership of approximately 60%, up roughly 12 percentage points, with Fidelity, BlackRock, Morgan Stanley, and Vanguard among its holders.

The depth of that institutional base reflects confidence in a treasury model built around productive ETH, not passive holding.

Liquid Staking Leaders and a Widening Institutional Playbook Lido and Ether.fi occupy different but complementary roles in Ethereum’s staking infrastructure.

Lido remains the dominant liquid staking platform by total value locked. Ether.fi leads in liquid restaking, giving depositors exposure to both base staking yield and additional reward layers.

Splitting the $400 million evenly across both protocols gives SharpLink diversified exposure to Ethereum’s productive layer.

Lido has also been expanding its footprint. The protocol launched ETH staking across four Layer-2 networks, Arbitrum, Base, Linea, and Optimism, using Chainlink CCIP, a move that deepens the liquidity reach of wstETH well beyond Ethereum mainnet. SharpLink’s deployment lands as that expansion gains traction.

Meanwhile, efforts to give retail investors direct stETH exposure through regulated products have stalled.

VanEck withdrew its proposed Lido staked Ethereum ETF registration with the SEC, leaving institutional deployments like SharpLink’s as the more accessible path for large allocators today.

SharpLink is not alone among listed companies treating ETH as a productive asset. BitMine has been a consistent buyer and staker, with its ETH accumulation continuing even as BMNR stock faced pressure.

The peer comparison underscores a broader shift: treasury firms are increasingly benchmarked not just on how much ETH they hold, but on how much yield that ETH generates.

On the traditional finance side, banks are also deepening their Ethereum commitments, JPMorgan recently expanded its JPM Coin deposit token to the Ethereum network, a further signal of the institutional drift toward productive on-chain infrastructure.

For SBET equity holders, the metric that matters most now is ETH-per-share compounding. The SharpLink ETH deployment is live. The protocols are running.

The question is how quickly the realized yields, and any further deployment tranches, show up in disclosed performance metrics. Watch for SharpLink’s next quarterly update and any X posts from the company on early yield data.

Injective's weekly transactions are growing...

Micron plans to invest up to $3 billion in the U.S. semiconductor supply chain to fund critical mineral processing projects.

Micron Technology announced it will fund Indium Corporation’s expansion project in Rome, New York, to restore the critical mineral processing capacity required for U.S. semiconductor manufacturing. The two sides will sign a long-term supply agreement to ensure stable supply of high-purity mineral raw materials and reduce reliance on globally concentrated mineral refining capacity. This collaboration is part of Micron’s U.S. semiconductor supply chain investment plan unveiled in July this year, which is set to invest up to $3 billion. Micron also plans to inject over $250 billion into U.S.-based wafer manufacturing and related technologies by 2035, with the latest project providing supply chain support for its domestic manufacturing layout.

7 minutes ago

OKX to list AXIS perpetual contracts

OKX will officially launch AXISUSDT perpetual contracts on its web platform, mobile app and API at 22:00 (UTC+8) on October 21, 2026. The detailed rules are as follows: 1. Opening time: The AXIS USDT contract will open for trading at 22:00 (UTC+8) on October 21, 2026 2. Contract overview: Axis Robotics builds a self-evolving data engine for embodied intelligence.

7 minutes ago

Anthropic is reportedly preparing a Claude model that better understands user intent, and it may be Fable 5.5.

Dongcha Beating AI Flash News: Anthropic is preparing to launch a new model better at understanding users' real intentions. The Information cited a pre-tester as saying the new model outperforms the currently available Claude in reasoning and meeting user needs. For example, when a user only asks to fix a single bug, it may further identify common issues causing such bugs and ask if they want to fix them together. The new model is also said to be better at proposing unconventional solutions: if a user consults about stock investment, it may design its own prediction algorithm instead of just repeating common analysis methods like price-earnings ratios. However, these evaluations only come from one tester so far, with no public test data available. The community speculates the new model may be Claude Fable 5.5. On October 13, LiteLLM synced `claude-fable-5-5` from the Azure model directory, but deleted the entry the next day after audit. Meanwhile, Google is internally testing Gemini 4 Carbon. Business Insider previously reported that some employees believe its programming ability is close to Claude Opus 5.5. OpenAI is also preparing a new version of Terra, with reports suggesting it may launch in the coming weeks, with further improved capabilities and an expected price lower than GPT-6.1 Sol.

7 minutes ago

Cantor Fitzgerald Reiterates Overweight Rating on Tesla, Sets Target Price at $485

Leading financial services firm Cantor Fitzgerald has reaffirmed its "Overweight" rating on Tesla, maintaining its target price at $485. Analysts at the firm expect Tesla's Roadster sports car demonstration to be impressive, but its actual contribution to the company's short-term profits remains limited. They noted that the Roadster's subsequent commercialization still faces uncertainties including road legality and mass production progress, so even with an impressive demonstration, it may not quickly translate into substantial financial gains.

7 minutes ago

A trader with a 0% win rate liquidated all his meme coin holdings, incurring total losses of over $1 million.

According to Lookonchain's monitoring, trader Jelitics traded 12 meme coins on the Solana blockchain, all of which ended in losses, resulting in a 0% win rate and total losses exceeding $1 million. He has now sold all his meme coin holdings.

7 minutes ago

Five Etherscan-labeled Drift exploiter wallets still hold about 84,164 ETH as recovery efforts continue after April’s attack.

Five Etherscan-labeled Drift exploiter wallets still hold about 84,164 ETH as recovery efforts continue after April’s attack.

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Per Lookonchain monitoring, Drift Protocol has resumed activity after two months of inactivity, transferring ETH to Tornado Cash. Over the past two hours, the attacker has deposited 25,700 ETH (worth roughly $61.56 million) into Tornado Cash, and currently holds 81,864 ETH (valued at approximately $195 million).

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A wallet group linked to the $285 million Drift Protocol exploit has resumed moving stolen cryptocurrency, with blockchain analysts reporting that approximately $61.56 million in Ethereum was deposited into Tornado Cash on October 20.

Summary

Lookonchain reported that the Drift exploiter deposited 25,700 ETH, worth approximately $61.56 million, into Tornado Cash on October 20. Earlier monitoring by Onchain Lens identified at least 13,400 ETH, worth around $32 million, moving to the mixer. The transfers follow an April 1 attack that Chainalysis estimated caused $285 million in losses. Drift said a subsequent forensic investigation attributed the attack to a North Korea-linked group. The protocol opened DFX recovery-token claims and redemptions for affected users on October 1. According to blockchain monitoring account Lookonchain, the suspected exploiter transferred 25,700 ETH into the privacy-focused mixing service over a two-hour period, ending roughly two months of reported inactivity. The tracker estimated that the wallets still controlled 81,864 ETH worth approximately $195 million.

An earlier Onchain Lens update identified at least 13,400 ETH, valued at roughly $32 million, flowing into Tornado Cash. Its accompanying wallet snapshot showed approximately $224.59 million in remaining assets.

Meanwhile, the two trackers reported different amounts as the transfers unfolded. The latest wallet balances have yet to be independently verified through Arkham.

Drift exploiter resumes Tornado Cash transfers The reported activity represents another stage in the movement of assets taken from Drift, a Solana-based decentralized derivatives platform.

Tornado Cash pools cryptocurrency deposits and allows funds to be withdrawn through separate addresses, making direct transaction tracing more difficult. Sending ETH to the service does not establish whether the funds were converted into cash, sold on an exchange or recovered by another party.

A separate monitoring account reported that one wallet deposited 19,600 ETH, worth approximately $46.81 million, through 196 transactions on October 20. That figure falls between the two social-media observations but has not been reconciled against a complete transaction-level record.

The Drift Protocol exploiter deposited 19,600 ETH (~$46.81M) into Tornado Cash in 196 transactions on October 20, 2026, moving funds held for roughly 202 days, according to the our Tornado monitoring system.

On April 1, the Solana perpetuals platform suffered an estimated $285M… https://t.co/OEjYr8uRzQ pic.twitter.com/sXaSkLDsRe

— Salus (@salus_sec) October 20, 2026 The same account identified a wallet ending in 57c1 that had reportedly held stolen assets since April. It estimated the address retained 6,114.15 ETH, valued near $14.6 million, after its first outgoing transactions.

These wallet-specific figures cannot establish the exploiter’s total remaining assets because investigators track several addresses and the balances change as transfers occur.

April Drift exploit followed months of social engineering The original attack took place on April 1, when attackers obtained administrative control of Drift through transaction approvals from members of its Security Council.

In an April 9 investigation, Chainalysis estimated losses at $285 million, representing more than half the protocol’s total value locked.

The attackers reportedly spent months posing as representatives of a trading firm and building relationships with Drift contributors. They exploited Solana’s durable nonce feature, which permits pre-signed transactions to remain valid until execution.

After obtaining sufficient multisignature approvals, the attackers took control of administrative permissions and approved a fake token called CarbonVote Token, or CVT, as collateral.

According to Chainalysis, the attackers manufactured trading activity around CVT to create an artificial price history. They then used the token as collateral to withdraw genuine assets, including stablecoins and cryptocurrencies.

Subsequently, Drift published a more detailed asset breakdown totaling approximately $295.7 million in stolen tokens. The figure differs from the initial forensic estimate because the reports use different valuations and accounting scopes.

Investigators traced portions of the proceeds moving between Solana and Ethereum, where the attacker accumulated ETH before the latest reported mixing activity.

Investigators linked the attack to North Korean operators Security researchers have connected the Drift theft to a suspected North Korean hacking operation.

In an April 7 assessment, blockchain analytics company Elliptic identified transaction patterns and laundering techniques consistent with earlier North Korea-linked attacks.

Drift later reported that an investigation by cybersecurity firm Mandiant had attributed the incident to UNC6862, a North Korean threat group.

The platform had previously linked the attack to the operators behind Radiant Capital’s October 2024 exploit. Radiant suffered losses estimated at approximately $50 million in that incident.

The case was part of a series of major DeFi thefts in April. As crypto.news previously reported, April exploit losses exceeded $600 million during the month’s first 18 days, including separate attacks on Drift and KelpDAO.

Drift recovery claims opened in October While investigators continued tracing the stolen cryptocurrency, Drift established a program to compensate affected users.

On October 1, the project opened claims and redemptions for DFX recovery tokens. Its announcement stated that each verified USDT of loss entitled an affected user to one DFX token.

The protocol fixed the total token supply at approximately 299.5 million and said its recovery pool contained around 3.1 million USDT at launch.

Users can redeem DFX against available pool funds, trade the tokens or retain them while additional funds accumulate. The redemption amount depends on the pool balance and outstanding token supply, so holding a DFX token does not guarantee immediate repayment at face value.

The project said proceeds from its relaunched trading platform, Velocity, would contribute to the recovery pool. Tether has separately committed up to $127.5 million in support, while other partners have committed up to $20 million.

Drift’s October announcement states that funds recovered through enforcement action, freezing or other recovery efforts will be added to the pool. DFX claims remain open until January 1, 2028.

Robinhood Chain ecosystem is primed to EXPLODE.

Table of contents

A bitcoin wallet untouched since 2013 has moved 411 BTC worth roughly $34 million, according to on-chain tracking by Arkham — coins acquired in the days when bitcoin traded near $131, per the platform’s data. The move is the latest sign that the market’s oldest hands are stirring as bitcoin holds near $82,000 and the year-end $100,000 debate heats up.

The arithmetic of the move is the story. At $131 a coin, the wallet’s original cost basis was roughly $53,841. At bitcoin’s recent price near $82,725, those same 411 coins are worth about $34 million — a gain of roughly 631 times over roughly thirteen years. That is the entire value proposition of bitcoin’s scarcity in a single wallet: the patient holder who never sold is now sitting on a life-changing multiple.

Why a dormant wallet moving matters Dormant-whale movements are tracked closely because they cluster around decision points. When a wallet that has sat still for a decade finally transacts, it usually means one of two things: the holder is taking profit, or the holder is repositioning — moving coins to an exchange to sell, splitting into new wallets, or consolidating to a custodian. Either way, the reactivation of a 2013-era address is a signal about the conviction of bitcoin’s earliest buyers at this specific price, per CoinGecko’s price data.

The 2013 cohort is the most important to watch. These are coins accumulated before the first great exchange collapses, before the futures market, and long before the spot ETFs. If the oldest hands begin distributing at scale, it reads differently than a one-off movement. A single 411-BTC transfer is not that — but it is the kind of data point that, repeated across a cohort, becomes a market call.

The 2013 cohort is the deepest-conviction money To understand why this wallet matters, it helps to remember what holding from 2013 actually means. A buyer at $131 in 2013 lived through bitcoin’s first parabolic run to over $1,100 and its collapse below $500, the Mt. Gox implosion that vaporized a large share of the market’s liquidity, the Silk Road shutdown, and then every subsequent cycle from the 2017 top to the 2022 bear. Anyone who held through all of that — and never took profit at $60,000 or $100,000 along the way — represents a conviction that is structurally different from the capital that entered after the spot ETFs.

That is why cohort-level behavior is the signal, not the single transaction. When the 2013-era addresses as a group begin moving coins toward exchanges, it historically marks a meaningful distribution phase. A lone 411-BTC transfer does not establish that pattern on its own — but it is the first kind of data point that, if it repeats, does.

How to read on-chain whale data without over-reading it Platforms like Arkham identify dormant addresses by the age of the coins and the inactivity of the wallet, then flag the reactivation when the balance moves. What the data does not tell you is intent: a transfer to a new self-custody wallet, a split into smaller addresses, a move to a custodian, and a move to an exchange all look identical on-chain at the moment of the transfer. A sell only becomes visible when coins reach an exchange or an over-the-counter desk and are subsequently spent or swapped.

The disciplined reading, then, is to treat a dormant-whale alert as a question rather than an answer. The question is whether this wallet is the first of many, or an isolated holder taking a thirteen-year profit at a price that — at $82,000 — is still within sight of bitcoin’s cycle high. The answer only arrives over the following weeks, in the form of either more reactivations or silence.

What the move does not mean It would be wrong to read a single wallet as a top signal. Four hundred and eleven bitcoin is a rounding error against the market’s daily turnover — bitcoin routinely trades tens of billions of dollars a day, and a $34 million transfer would not move the price on its own. Nor does a transfer prove a sale: coins moving on-chain can be a cold-storage rotation, a wallet split, or a transfer to an OTC desk rather than an open-market dump.

The more honest reading is that it is one data point in a broader picture. Bitcoin has been trading in a tight range around $82,000 while analysts split over whether it can reach $100,000 by year-end, with inflation clouding the outlook. A dormant whale choosing this moment to move — rather than, say, at $40,000 — is consistent with the idea that the range is a decision point for long-term holders, not just for traders.

What to watch next The signal to track is not this wallet but the cohort. If more 2013–2015 addresses wake up and begin moving coins toward exchanges in the coming weeks, that would be the first sign of distribution among bitcoin’s oldest holders. The counter-signal is silence: if this is a one-off, the range simply continues until either the macro picture or the ETF flows resolve it.

For now, the move is a reminder of the asymmetry that built bitcoin’s base. A $131 coin held through every drawdown is now worth $82,000 — and the people who never sold are the ones whose movements matter most. Track the wider bitcoin picture in our Bitcoin hub.

The macro backdrop is what turns this into a question The wallet’s reactivation lands at a moment when bitcoin’s own setup is unsettled. Bitcoin has spent recent weeks oscillating around $82,000 while spot-ETF flows turn choppy and analysts split over whether a $100,000 year-end print is still in reach, with inflation data clouding the path. In that environment, the behavior of the oldest holders matters more, not less: if the 2013 cohort is comfortable selling here, the range resolves one way; if it stays quiet, the supply overhang that bears worry about never materializes.

The bottom line is that one wallet does not make a market. But a $131 cost basis turned into $34 million is a useful reminder of who built bitcoin’s floor — and the next few weeks will show whether this whale is an outlier or the first of a wave. Watch the cohort, not the single transaction.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

AUTHOR

A freelance writer with a passion for crypto, delivering insightful and accurate content on blockchain and fintech. With a knack for translating complex concepts into accessible content, Eric produces well-researched articles, blog posts, and thought leadership pieces that cover the latest trends and developments in the digital finance space. His writing is aimed at educating and engaging both newcomers and industry experts, offering fresh insights into the world of cryptocurrencies, decentralized finance (DeFi), and blockchain innovations. Eric’s dedication to quality and accuracy makes him a trusted voice in the fintech and crypto communities

Gate Releases September 2026 Transparency Report: Global User Growth and Business Expansion Achieve Coordinated Advancements

The proposed iShares Bitcoin Managed Protection ETF would use options on IBIT to limit each tranche’s starting loss to about 10%, in exchange for a ceiling on gains.

BlackRock files for third U.S. bitcoin ETF

Posted October 20, 2026 at 4:15 am ET.

BlackRock filed on Monday to register the iShares Bitcoin Managed Protection ETF, a fund built to give up part of bitcoin’s gains in return for a cushion against sharp declines. It would trade under the ticker PBIT and become the asset manager’s third U.S. bitcoin-linked ETF.

According to the preliminary prospectus, which BlackRock submitted to the Securities and Exchange Commission as an amendment to the iShares Trust registration, the fund “seeks to provide upside exposure to the iShares Bitcoin Trust ETF (IBIT) and/or similar bitcoin exposure up to an approximate limit, while seeking to provide a level of downside protection.”

Bloomberg Intelligence ETF analyst James Seyffart called it a “buffer” bitcoin ETF, in which “investors will give up some upside to get that protection.”

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How PBIT’s Options Work PBIT would not own bitcoin or shares of any bitcoin exchange-traded product. Instead, it would hold call options that reference IBIT and similar products, plus a pool of cash, money market funds and short-term government and investment-grade debt whose interest helps pay for those options.

The options sit in three overlapping tranches, with start dates spaced a month apart across a calendar quarter. Every month, one tranche rolls off and a fresh one replaces it. Each tranche is a long call spread: the fund buys calls struck below the reference price and sells calls struck above it.

The lower strike is usually placed near 90% of the reference asset’s value when the calls are bought, which limits a new tranche’s loss exposure to roughly 10% before fees. The upper strike sets the cap on gains and depends on market conditions. BlackRock can adjust the floor level at any time, and because the tranches overlap, the fund as a whole carries no fixed floor or cap. The filing also cautions that if bitcoin climbs after a tranche begins, losses measured from that higher price can run past 10%.

BlackRock Fund Advisors would manage the fund, with Erin Armstrong, Kyle McClements and Richard Mejzak named as portfolio managers.

Fee and Timing Still Open The draft leaves the management fee and total annual expenses blank. BlackRock marked the amendment to take effect 75 days after filing, which would land in early January 2027 unless the timeline changes. A registration filing is not an approval, and the prospectus states the shares may not be sold until the registration is effective.

In June, BlackRock launched the iShares Bitcoin Premium Income ETF (BITA), which sells call options on part of its holdings to pay out yield. Both newer funds limit bitcoin’s upside: BITA does it to generate income, while PBIT would do it to limit losses.

Related Listen: The Fed Is Turning Hawkish. What Does That Mean for Bitcoin and Strategy?

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Over the past two hours, the Drift attacker has transferred a total of 25,700 ETH to Tornado Cash.

Per Lookonchain monitoring, Drift Protocol has resumed activity after two months of inactivity, transferring ETH to Tornado Cash. Over the past two hours, the attacker has deposited 25,700 ETH (worth roughly $61.56 million) into Tornado Cash, and currently holds 81,864 ETH (valued at approximately $195 million).

15 minutes ago

Wang Ziru’s first AI product VIVA debuts: three virtual characters manage diet, training, and sleep.

Beating AI News Flash from Dongcha: ZEALER founder and former GREE executive Wang Zirong has unveiled VIVA, the first AI product his team is developing, focused on personal health management. The tool integrates three virtual roles – a dietitian, fitness coach, and life assistant – into one chat interface. Users can either snap a photo of their meals or directly state what they ate; the AI will calculate calories and log nutritional intake. The fitness coach customizes training plans based on the user’s schedule, guides workouts, and tracks progress. The life assistant supports integration with Apple Health, adjusting daily recommendations using sleep and activity data – for instance, if the user got insufficient sleep last night, training intensity will be appropriately reduced today. The three roles share conversation information, so users don’t need to switch between separate tools. The product has a backstory: In June this year, Wang showcased an AI health management prototype he built, disclosing he previously used AI to aid fat loss, dropping his weight from 86kg to 74kg. During development, he prioritized solving two pain points: the complexity of Chinese home cooking makes calorie estimation hard, and smart wearable data is scattered, requiring manual sorting for AI analysis. In August, Wang revealed his startup’s software would launch no later than September. Now, the team plans to host on-site VIVA experiences at Xiaohongshu’s "Ma?ana Tomorrow Park" in Haikou from October 23 to 25.

15 minutes ago

Drift Protocol exploiter moves $61.56M in ETH to Tornado Cash after 2-month silence

The Drift Protocol exploiter, who stole over $270M, is moving $ETH to #TornadoCash after 2 months of inactivity. Over the past 2 hours, the exploiter has deposited 25,700 $ETH ($61.56M) into #TornadoCash and still holds 81,864 $ETH ($195M).

15 minutes ago

Samsung Electronics is now leveraging its 5-nanometer process technology to attract new clients.

According to South Korean media reports, Samsung Electronics' Foundry Business Division, which handles semiconductor contract manufacturing, has begun targeting new customers for its 5-nanometer (nm, one billionth of a meter) process, as its 4-nanometer process capacity is already fully operational. While contracts for its most advanced 2-nanometer process with global large tech firms have been delayed, the move aims to boost production utilization centered on its 4-nanometer and 5-nanometer processes—boasting relatively stable yields—to improve profitability. Per semiconductor industry sources on the 20th, Samsung Foundry’s 4-nanometer process capacity has effectively reached saturation amid a recent rise in customer orders. As such, Samsung is expanding its sales efforts to attract new clients for its 5-nanometer process. Analysts note that this push for 5-nanometer customers is also a response to the demand shift: with 4-nanometer capacity nearing saturation, the 5-nanometer process can be offered as an alternative to meet clients’ performance and cost requirements, while also lifting utilization of existing production facilities. Conversely, securing major customers for its 2-nanometer process—its next-generation flagship technology—remains a key challenge. Samsung is in talks with global large tech firms for semiconductor manufacturing contracts based on its 2-nanometer process, but some negotiations are progressing slower than initially anticipated. Advanced processes require not only yield verification but also comprehensive validation of energy efficiency, design intellectual property (IP), and stable mass production capabilities, making the timeline to finalize contracts and launch mass production considerably long.

15 minutes ago

A whale increased its long positions in crude oil to $36.95 million intraday, becoming the largest crude oil long holder on-chain.

According to TradingBeats monitoring, the largest long whale in crude oil contracts, whose address starts with 0x0cc1, has continued to add positions in WTI and Brent crude oil longs over the past 24 hours, net buying approximately $32.785 million. After consecutive position increases, its total long positions in the two oils are valued at around $36.949 million, with an unrealized profit of about $639,000. WTI is the main direction of its position increase, with a net addition of approximately $21.828 million; Brent has a net addition of about $10.957 million. The whale’s positions in the two oils are as follows: WTI crude oil: position value of around $24.001 million, average entry price of $98.597, unrealized profit of about $464,000. Brent crude oil: position value of approximately $12.948 million, average entry price of $106.2393, unrealized profit of about $176,000. During the same period, WTI and Brent contracts were priced at $100.54 and $107.70 respectively. The latest round of position additions by this account occurred around 17:08 today, and as of press time, it is still adding positions.

15 minutes ago

MPLX jumps over 110% in a short period amid news of its listing on Upbit's KRW trading pair.

According to HTX market data, MPLX jumped more than 110% in a short period following the news of its listing on Upbit's KRW trading pair, and is now trading at $0.11.

15 minutes ago

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21shares has launched two physically backed cryptocurrency exchange-traded products in Europe, offering investors exposure to Lighter’s LIT token and Venice’s VVV token through conventional brokerage accounts.

Summary

21shares launched two physically backed crypto ETPs tracking Lighter (LIT) and Venice Token (VVV) on October 20.
LIHT trades on Deutsche Börse Xetra, while VENC is listed on SIX Swiss Exchange. Both charge a 2.50% annual fee.
The products offer brokerage-account exposure to decentralized derivatives trading and privacy-focused AI without requiring investors to manage tokens directly.

As per the company’s October 20 announcement, the 21shares Lighter ETP trades under LIHT on Deutsche Börse Xetra, while the 21shares Venice Token ETP, VENC, is listed on Switzerland’s SIX exchange. Both products carry a 2.50% annual fee and are backed by their respective underlying cryptocurrencies.

Meanwhile, the listings introduce exchange-traded exposure to two different crypto businesses: Lighter’s decentralized perpetual futures platform and Venice’s privacy-focused artificial intelligence services.

Lighter ETP begins trading on Xetra
The Lighter product tracks LIT, the native token of a decentralized exchange that supports perpetual futures trading across cryptocurrencies and other markets.

21shares said Lighter uses zero-knowledge technology to make its order matching and liquidation processes verifiable. The platform directs revenue toward LIT repurchases and permanent token burns, according to the issuer.

The perpetual futures market just got a new ticker. ⚡

The 21shares Lighter ETP (ticker: LIHT) is now live on Xetra. Lighter (LIT) is a high-performance decentralised exchange specialising in perpetual futures across crypto, equities, FX, and commodities, with an economic model… pic.twitter.com/JFZ32jpAe2

— 21shares (@21shares) October 20, 2026

Deutsche Börse independently confirmed the listing, identifying October 20 as LIHT’s first trading day.

The exchange’s records identify two trading lines for the same product, with the euro-denominated security using LIHT and the U.S. dollar line using LIHU. Both carry ISIN CH1615641755.

The exchange classifies the instrument as a crypto exchange-traded note, or ETN. Investors purchase the listed security and gain exposure to LIT’s price without directly holding the token in their own wallets.

Venice ETP offers exposure to privacy-focused AI
The second product, VENC, tracks Venice Token, the cryptocurrency associated with an AI platform offering services designed to limit the retention and exposure of user information.

Venice provides an API compatible with OpenAI’s interface, allowing developers to connect applications to its AI services.

“Lighter brings a high-performance, fee-generating perpetual futures DEX to traditional accounts, while Venice delivers exposure to the booming private AI sector where data privacy and compute economics meet,” said Jasmin Muelhaupt, 21shares’ head of financial product development.

The issuer’s VENC product page identifies Anchorage Digital Bank and BitGo as custodians, with Flow Traders and Virtu Financial Ireland serving as authorized participants and market makers.

The page lists an October 19 inception date, 65,000 securities outstanding and an initial net asset value of $20 per security, representing $1.3 million in assets. The figure describes the initial product size and does not establish how much money investors have contributed since launch.

Source: 21shares
The issuer’s research provides an additional detail about Venice’s token supply. Annual VVV issuance fell from 14 million tokens at the project’s January 2025 launch to 2 million tokens from October 1, 2026, an approximately 86% reduction.

Venice directs portions of subscription revenue and API credit purchases toward token buybacks and burns. However, 21shares notes that recurring burns remain below issuance and that owning VVV does not provide equity or governance rights in the company.

21shares expands its European crypto products
The two launches follow 21shares’ September introduction of Zcash and ether.fi ETPs in Europe.

As crypto.news previously reported, both products carry 2.50% annual fees, with their underlying tokens held by custodians.

Moreover, the company has offered comparable products for other decentralized finance tokens, including a dYdX-linked ETP introduced in September 2025.

European investors can already access products from 21shares through established securities accounts. In February, ING Germany introduced cryptocurrency ETP trading for retail brokerage customers, with 21shares among its product partners.

The new Lighter and Venice products have different underlying business models, but neither gives ETP shareholders direct control over the cryptocurrencies held by custodians.

Trading the securities through a brokerage account does not remove exposure to token price changes, and returns will be reduced by the products’ annual fees. The issuer’s regulatory disclosure states that the securities are not being publicly offered in the United States.

Katie Stockton Names 3 Warning Signs That Could Deepen the Stock Selloff

Cryptocurrency analytics company Santiment has shared new data on the remarkable accumulation of Bitcoin (BTC) by large investors. According to the company, the total assets of Bitcoin whales have reached their highest level since April.

According to data shared by Santiment, wallets holding between 10 and 10,000 BTC have accumulated approximately 88,987 BTC since September 19th. These purchases over the past month have pushed the total Bitcoin holdings of this investor group to over 13.69 million BTC, reaching their highest level in six months.

The analysis firm noted that this group of investors has shown a strong correlation with significant Bitcoin price movements in the past. Therefore, it was stated that the accumulation and selling behavior of large investors could provide important clues about the future direction of the market.

According to Santiment, the fact that whales continue to buy despite the fluctuations in Bitcoin’s price indicates that large whales prefer to increase rather than decrease their positions in the market.

The company argued that a strong uptrend for Bitcoin could emerge if the current accumulation trend continues. Highlighting Bitcoin’s decisive influence on the overall cryptocurrency market, Santiment stated that continued purchases by large investors could support not only the BTC price but also confidence in the altcoin market.

However, Santiment emphasized that whale accumulation alone does not guarantee a price increase.

*This is not investment advice.

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