Track market-moving stories before they get noisy

HONG KONG, October 18, 2026 – As quantum computing advances, the challenge extends beyond Bitcoin’s cryptography to the financial infrastructure built around it.

Quantum computing is emerging as one of Bitcoin’s long-term security challenges. A sufficiently powerful quantum computer could theoretically compromise the digital signatures protecting Bitcoin transactions, potentially exposing funds associated with vulnerable public keys.

While no publicly demonstrated quantum computer is currently capable of such an attack at scale, the implications extend beyond Bitcoin itself. As Bitcoin becomes increasingly integrated into decentralized finance (DeFi) through tokenized assets such as Wrapped Bitcoin (WBTC), a future cryptographic transition would affect not only the Bitcoin network, but also the financial infrastructure built around it.

The question is no longer simply whether Bitcoin can become quantum-resistant, but whether the broader ecosystem can evolve alongside it.

Beyond the Bitcoin Network
Bitcoin’s transition to quantum-resistant cryptography would require more than introducing new signature schemes. Wallets, exchanges, custodians and infrastructure providers would need to adapt their systems, potentially migrating existing BTC holdings to new security standards.

Proposals such as BIP-360 reflect ongoing efforts to explore Bitcoin’s future cryptographic architecture. Yet coordinating adoption across a decentralized ecosystem could take years.

For tokenized Bitcoin, the challenge becomes more complex. Even if Bitcoin adopts quantum-resistant cryptography, the custody systems, smart contracts and networks supporting tokenized assets would still require independent security assessments.

Securing Bitcoin itself does not automatically secure everything built around it.

WBTC and the Next Generation of Bitcoin Infrastructure
As an established tokenized Bitcoin asset in DeFi, WBTC illustrates the scale and complexity of securing Bitcoin across multiple financial ecosystems.

With 116,000 WBTC in circulation, representing approximately $9.5 billion in Bitcoin-backed assets, WBTC’s infrastructure supports Bitcoin liquidity across lending protocols, decentralized exchanges and multiple blockchain networks.

Backed 1:1 by BTC held in custody, WBTC’s long-term resilience depends not only on Bitcoin’s underlying cryptography, but also on reserve security, custody operations and the infrastructure supporting minting and redemption.

A future quantum-resistant transition could require custodians to evaluate their key-management systems, migrate underlying BTC reserves and maintain operational continuity throughout the process.

Against this backdrop, WBTC is preparing to migrate to new Custodian Bitcoin Deposit Addresses (CBDAs) as part of its custody infrastructure management. Bitcoin address management is relevant to long-term security because public-key exposure can influence vulnerability to potential quantum attacks. However, the security implications depend on address types and transaction histories, and address migration alone does not establish quantum resistance.

WBTC has also publicly announced its exploration of a multi-custodian reserve model, aimed at reducing custody concentration risk and strengthening operational resilience. While diversification does not directly address quantum vulnerabilities, it could provide greater flexibility as security standards evolve, depending on implementation.

Together, these initiatives highlight the importance of both reserve security and operational resilience as Bitcoin’s financial ecosystem expands. Neither replaces the need for quantum-resistant cryptography, but both illustrate the infrastructure considerations involved in preparing for future changes.

Preparing for the Next Era
The timeline for quantum computing remains uncertain, but preparing for potential cryptographic changes is a long-term challenge for the entire Bitcoin ecosystem.

For WBTC, this means considering how custody arrangements, reserve management and supporting blockchain infrastructure could evolve alongside Bitcoin’s security standards.

Bitcoin’s quantum transition may begin with cryptography, but its success will depend on the resilience of the infrastructure connecting Bitcoin to the wider financial ecosystem.

About WBTC – Bitcoin’s Passport to DEFI

WBTC is the new Bitcoin standard. A singular identity for Bitcoin across multiple chains. It brings Bitcoin into environments where speed, capital efficiency, and scale are essential, while maintaining fidelity to Bitcoin’s original principles. There is no second. WBTC stands alone in its role, trusted, verifiable, and engineered for a multichain world.

Media Contact: [email protected] | Website: wbtc.network

Disclaimer: Information provided is for information purposes only and is not financial advice. No representation or warranty has been made as to the content, accuracy, timeliness, suitability or completeness of such information. Participation in DeFi carries risks, always do your own research.

XRP Ledger validator Vet argues that blockchain technology is transforming the future of finance through crypto assets like XRP, 24/7 trading, and easier access to global markets.

In a post on X, Vet explained that major innovations often begin with people who believe in the future. He believes some people doubt XRP’s potential because they are too pessimistic about what lies ahead.

“We live in a world people called Sci-Fi decades ago,” Vet wrote, adding that blockchain technology is disrupting traditional finance through tokenization, 24/7 trading, global access, and censorship resistance.

“New money, folks!” he added, expressing confidence in the XRP Ledger’s role in this transition.

Meanwhile, recent developments at Ripple provide examples of how blockchain-based financial services are moving closer to traditional banking infrastructure.

RLUSD Moves Into Banking and Global Payments Ripple is making it easier for banks and financial companies to adopt blockchain technology through its stablecoin, RLUSD, and the XRP Ledger (XRPL).

On October 15, Ripple announced a partnership with Cross River Bank to integrate RLUSD into the bank’s systems. The move supports transactions on the XRP Ledger.

The partnership will allow financial companies to send and settle payments using U.S. dollars and RLUSD 24 hours a day, seven days a week.

Customers will be able to access RLUSD through a single connection without having to build their own blockchain infrastructure. The partnership also aims to support international payments and transfers.

Ripple also reported that RLUSD’s market capitalization had surpassed $2.5 billion, with more than $1 billion worth of the stablecoin issued on the XRP Ledger.

RLUSD payments are becoming part of the banking infrastructure fintechs already use.

We’re partnering with @CrossRiverBank to integrate RLUSD on the XRP Ledger into its core banking platform, providing 24/7 settlement within payment networks and greater flexibility to settle… pic.twitter.com/ZBLw9f40Oy

— Ripple (@Ripple) October 15, 2026

Ripple Prime Introduces 24/7 Trading Meanwhile, Ripple also announced new trading services through Ripple Prime on October 15. The service allows institutional investors to gain exposure to traditional assets, including stocks, commodities, and currencies, through markets that operate around the clock.

Ripple Prime also allows RLUSD to be used as collateral for certain transactions, giving the stablecoin another use case in institutional finance. The service is currently available in select markets, with plans to expand into other regions.

Ripple Partners With DriveWealth On October 14, Ripple announced a partnership with DriveWealth, a company that provides investment services to financial platforms.

The partnership aims to use RLUSD for payments and settlements, help investors move money across borders, and explore additional financial services.

The goal is to make it easier for international investors to fund their brokerage accounts quickly without relying entirely on traditional payment systems.

DriveWealth works with more than 100 partners worldwide, giving Ripple access to a broader network of investment platforms.

What This Means for the XRP Ledger These partnerships demonstrate how Ripple is working to integrate blockchain technology into traditional finance. The XRP Ledger can process transactions quickly, while RLUSD provides a digital representation of the U.S. dollar for supported payments and financial services.

If more banks and financial companies adopt these services, the XRP Ledger could see increased usage.

Ultimately, Vet believes that blockchain technology is reshaping global finance and that the XRP Ledger will play a significant role in that future. He encourages stakeholders to focus on long-term possibilities rather than dismissing them because of current limitations.

Recent data from Coinbase Markets has revealed significant imbalances in XRP derivatives positioning. The current spot price of XRP stands at $1.31, notably lower than the levels at which the majority of bullish derivatives positions were initiated. This gap has drawn close attention to net-long exposure in the XRP market.

XRP derivatives skewed above spot priceA substantial volume of XRP short positions has congregated around the $1.49 and $1.50 price points, with the largest single cluster exceeding $20 million in notional value. In contrast, the bulk of long exposure in the derivatives market was established around $1.40, roughly 7% higher than the current market price. The skew in positioning highlights the vulnerability of net-long traders to any further downward moves.

Coinbase Markets identified that 97% of net-long notional exposure was opened at prices above the present spot rate. This insight is based on Glassnode’s net entry-price heatmap, which bins long and short positions by price level to depict the current state of derivatives exposure as of October 15.

The largest cluster of net-long XRP positions entered at $1.40, while the spot price remains at $1.31. This means that 97% of net-long notional was entered above today’s price.

Context for derivatives exposureThe 97% figure does not reflect the entire population of XRP investors but refers specifically to net derivatives exposure. Glassnode calculates this by taking the net difference between long and short positions at each identified price. A positive value at a given position indicates a predominance of longs, while a negative value means shorts outnumber longs at that level. The data does not represent potential liquidation thresholds, as those depend on individual margin, leverage, and collateral choices.

Shorts have gained dominance in this environment, with market structure currently favoring sellers. The charted entry prices also do not align with forced liquidation points, which can vary widely depending on leverage and risk management.

Potential price impacts and trader responsesThis arrangement in the derivatives market creates possible implications for XRP’s near-term price movements. With so many long positions entered significantly above spot, many traders may face pressure to close losing positions, potentially triggering further selloffs if the market declines. A cascading effect of margin closures could follow, reinforcing downward price pressure.

Alternatively, a move back toward $1.40 or higher could lead some traders to hold or expand positions, believing in a price recovery. The resolution of this clustering will likely influence overall volatility, depending on which way the price breaks next.

Active market monitoring is now critical for traders managing significant derivatives exposure. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.

For now, the large discrepancy between long entry prices and the current market rate means substantial uncertainty persists for highly leveraged positions. Market participants are watching for further shifts in derivatives positioning as XRP fluctuates at these key price thresholds.

Cover image via depositphotos.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Activity on the XRP Ledger just dropped sharply. Payment volume, which tracks XRP sent from one account to another, fell to 119.5 million XRP on October 17. That is a 72.3% drop in a single day. The 30-day average sits at 629.3 million, so the latest print is far below normal. The all-time high is 7 billion, which shows how small today's number is by comparison.

Price has no substance Data for October 18 shows approximately 37.5 million XRP so far, down another 68.6%. The day is not finished, so this figure will likely rise. Even so, the direction is clear. Over the past year, daily volume typically stayed between 300 million and 1 billion, with spikes to 2.5 billion in November and February. Readings near 100 million are rare.

XRP/USDT Chart by TradingViewOne weak day does not establish a trend. Payment volume jumps around a lot, and quiet weekends often deliver low numbers. Both drops landed on a Friday and Saturday. Still, the timing matters because price is also under pressure.

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Rally has no fuel leftXRP trades near $1.30 after falling from a September high around $1.66. It has now slipped beneath the 50, 100, and 200-day moving averages, which sit between $1.34 and $1.38. Those lines now act as resistance. The RSI is near 40, which indicates weak momentum but not an oversold market. Trading volume has also dwindled since the August spike.

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The nearest support is the $1.25 to $1.27 area, where buyers stepped in during mid-September and again this week. A close beneath that zone would put $1.15 in view, and the $1.00 base from August after that. For bulls, the first target is a move back above $1.34 to $1.38. Without that, rallies are likely to fail.

The price drop and the weak chart point the same way. Fewer coins are moving, and fewer buyers are pushing the price up. If ledger activity returns to the 500 million level within the next few days, the drop was noise. If it remains low while XRP holds below the moving averages, the risk of a break beneath $1.25 grows.

Activity on the XRP Ledger, the decentralized blockchain known for facilitating fast and inexpensive cross-border payments, experienced a sharp downturn as payment volume, which tracks XRP transfers between accounts, dropped to 119.5 million XRP on October 17. This figure represents a 72.3% decline compared to the previous day and marks one of the lowest daily readings on record, far below the 30-day average of 629.3 million XRP. For perspective, the all-time high in daily payments reached 7 billion XRP.

Payment volumes and volatilityData for October 18 continues to show weakness, with payment volumes near 37.5 million XRP so far—down another 68.6%. This number may rise before day’s end, but remains far below typical activity levels. Historically, daily volume on the XRP Ledger ranged between 300 million and 1 billion XRP over the past year, with occasional spikes up to 2.5 billion in November and February. Daily figures below 100 million are considered rare events.

One or two quiet sessions do not confirm a broader trend, as payment flows often fluctuate significantly and weekends tend to deliver lower volumes. Notably, both of the recent sharp declines occurred on a Friday and Saturday.

Despite the drop, historical patterns suggest brief periods of low activity, especially on weekends, are possible. However, the current decline comes at a time when price action is also weakening, amplifying concern among traders.

Mini dictionary: XRP Ledger, a decentralized, public blockchain created to settle payments using XRP, known for its rapid settlement times and low fees.

Market indicators point to mounting pressureThe declining payment volumes align with ongoing price softness in XRP. The token now trades close to $1.30 after falling from a September peak near $1.66. In recent sessions, XRP has dropped below its 50, 100, and 200-day moving averages, each of which range from $1.34 to $1.38. These moving averages now serve as technical resistance levels, making it harder for the price to rebound.

Momentum has weakened, as indicated by the Relative Strength Index (RSI) at approximately 40. This suggests subdued buyer interest, but not yet an oversold setup. In addition, trading volume in the spot market has faded since an uptick observed in August.

Date/MetricPayment Volume (XRP)Price30-Day AvgMoving AveragesOct 17119.5 million$1.30629.3 million$1.34-$1.38Oct 18 (so far)37.5 million–––All-Time High7 billion–––Support and resistance levels in focusImmediate support sits in the $1.25 to $1.27 range, a zone where buyers intervened during mid-September and again this week. If XRP closes below this level, technical charts indicate the next downside target at $1.15, followed by a stronger floor near $1.00 set in August.

For bullish traders, the first hurdle is a move back above the $1.34 to $1.38 band. Without regaining these levels, any rebounds are likely to stall, reinforcing the challenge for positive momentum.

Fewer XRP tokens are circulating on the ledger, and with prices below major moving averages, the risk of a further breakdown increases if activity does not recover. A revival of payment volume toward the 500 million level would help reverse sentiment. Otherwise, sustained weakness could drive the price below critical support.

If ledger activity remains muted while XRP hovers under its moving averages, analysts note an elevated risk that the token could breach the $1.25 support area and face further selling pressure.

John Hallahan, Director of Business Solutions and Advisory (EMEA) at Fireblocks, confirmed that the Depository Trust and Clearing Corporation (DTCC) will launch its tokenization service at the end of October. During a video interview, Hallahan specified, “DTCC’s tokenization service is launching at the end of the month. I believe it’s on the 28th.”

Institutional participants and readinessFireblocks, a leading institutional digital asset custody and transfer platform, plays a key role in connecting multinational financial players with blockchain-based infrastructure. The company enables support for asset transfers across multiple blockchains, including networks such as XRP, XLM, and HBAR. Hallahan stated that Fireblocks is working closely with several DTCC program participants, notably including Citadel, a major global financial institution and market maker.

The participation of Citadel signals that large trading firms and liquidity providers are not waiting on the sidelines as the DTCC moves to integrate tokenization into market infrastructure. Instead, these stakeholders appear to be actively preparing for the transition and investing in the necessary systems before the official launch.

Participants in DTCC’s tokenization working group are preparing for the official launch date, with readiness efforts involving firms such as Citadel and connectivity solutions from Fireblocks.

Crypto researcher SMQKE posted the Hallahan interview video on X, highlighting this as the first public confirmation from a DTCC working group participant about the exact go-live date for the service.

DTCC’s market role and structural impactThe DTCC is a central financial institution that processes more than $2 quadrillion in securities transactions every year. It serves as the backbone of settlement and clearing operations for the United States’ financial markets, ensuring that settlements are executed reliably and efficiently between institutional participants.

Tokenizing securities and moving them onto blockchain networks represents a major evolution for traditional finance. For a financial institution of DTCC’s scale to adopt on-chain settlement processes marks a notable structural shift, creating new opportunities for improved transparency, speed, and efficiency in securities trading.

Mini dictionary: DTCC (Depository Trust and Clearing Corporation), the primary clearinghouse for U.S. equities and fixed-income securities, manages trade settlement, asset custody, and post-trade processing for banks, brokers, and investment managers.

Tokenization, settlement speed, and future adoptionOn-chain tokenized securities are expected to allow atomic settlement, removing traditional T+1 and T+2 delays in equity markets. This would enable institutional market makers to manage collateral with increased efficiency and gain immediate access to liquidity at any time. Hallahan suggested that after the U.S. debut, other regions are developing similar capabilities at various stages, with accelerated adoption likely to follow DTCC’s lead.

Fireblocks is positioning itself to bridge institutional participants to both private and public chains. With existing connectivity to blockchains such as XRP, XLM, and HBAR, Fireblocks is drawing attention among enterprise blockchain observers.

Trading activity and imminent launchAccording to Hallahan, active trades on tokenized securities via the DTCC infrastructure are expected to begin by the end of October. He noted, “You’d expect to see some really interesting trades happening from the end of this month.”

The involvement of notable market makers like Citadel and Fireblocks’ operational support for the working group indicate that October 28 is expected to bring substantial institutional trading activity and a robust rollout of the DTCC’s tokenized service.

InstitutionRole in DTCC Tokenization LaunchDTCCProvides tokenization infrastructure for securities settlementFireblocksSupplies custody and blockchain connectivity layerCitadelPrepares trading infrastructure as a participant

Bitcoin and XRP price trends remained weak ahead of the 2026 U.S. midterm elections, with recent recovery attempts losing momentum. 

Bitcoin traded above $81,800, while XRP struggled below $1.30 as the broader cryptocurrency market sought firmer footing.

Meanwhile, Iran’s foreign minister outlined a conditional timetable for reopening the Strait of Hormuz. Abbas Araghchi said shipping could resume within six days if Washington accepted Tehran’s terms. Negotiations would restart on the seventh day under the proposal, which still requires American approval.

BREAKING: 🇮🇷 Iran’s Foreign Minister says the Strait of Hormuz could reopen within 6 days if the US accepts its terms with negotiations set to resume on day 7.

— Bull Theory (@BullTheoryio) October 18, 2026

U.S. Midterm Elections 2026: Americans Vote on November 3 Midterm elections for the U.S. Congress are Tuesday, Nov. 3, 2026, to decide control of both chambers. Voters will elect all 435 House members and 35 senators, including seats contested through special elections. 

The nationwide vote comes halfway through President Donald Trump’s second term, with his legislative agenda facing a crucial test. There will also be races for governorships in 36 states and many other state legislative and local government races. 

Some Americans get to vote early in the states where early voting is available, with different states having different schedules and deadlines for early voting.

The November elections are set for across-the-country contests that will kick off new congressional terms on Jan. 3, 2027. The results will shape federal spending, lawmaking, and oversight for two years. 

Bitcoin and XRP price action remains under scrutiny on Sunday as ETF withdrawals and Michael Saylor’s message draw market attention.

The SEC’s proposed crypto framework remains open for comments until October 20, leaving claims of Monday’s rollout unconfirmed. 

Saylor Signals Buying as ETF Demand Weakens Michael Saylor’s message, “We found room for more orange,” has renewed speculation about another Bitcoin purchase by Strategy. The company reports 848,250 BTC, while the size and timing of its next purchase remain undisclosed. 

We found room for more orange. https://t.co/XAgiEZbXgO

— Michael Saylor (@saylor) October 18, 2026

The Federal Reserve meets October 27–28, with its decision due October 28 at 2:00 p.m. Eastern. 

Fedmatch data U.S. spot Bitcoin ETFs lost $82.39 million on October 16, including $71.78 million withdrawn from BlackRock’s IBIT. 

Meanwhile, XRP ETFs recorded $1.84 million in weekly outflows, ending 13 consecutive weeks of positive flows. The funds attracted fresh capital on only one trading day during the week, according to reported flow data. 

Source: Sosovalue data XRP ETFs recorded daily net outflows of $2.47 million, with total net assets of $1.47 billion.

Bitcoin and XRP Price Levels to Watch Bitcoin long-term prediction faces resistance near $82,000, with $82,500 becoming a potential recovery target if buyers secure a sustained breakout. Support is near $81,000, and a breakdown could lead to $80,700 and then $80k.

Source: BTC/USDT 4-hour chart: TradingView XRP price is currently consolidating around $1.29, initially supported by $1.27, and with a resistance level between $1.31 and $1.32. Based on current chart analysis, a breakout above $1.35 will leave $1.25 exposed, should the support level be broken.

XRP may reach $12.95 if it achieves 10% market share within the cryptocurrency market, according to calculations shared by XRP advocate John Squire. Squire highlighted the analysis of crypto market commentator Steph Is Crypto, who modeled potential returns for holders based on different scenarios of XRP’s market dominance.

In a recent video circulated by Squire, Steph Is Crypto examined what a hypothetical holding of 500 XRP could be worth under several market conditions. Steph Is Crypto used current total crypto market capitalization data to estimate XRP’s future price at various levels of market share.

At a 5% market dominance, the analysis projected that 500 XRP would be valued at $1,700, based on an individual token price of $3.40. If XRP captures 7% of the market, the same holding could increase to $3,400, implying a token price of $6.80.

The most optimistic scenario involves XRP attaining 10% dominance, which would result in 500 XRP being worth approximately $6,475. Under that projection, the price per token would be about $12.95.

Market Share (%)Token Price ($)Value of 500 XRP ($)53.401,70076.803,4001012.956,475Steph Is Crypto emphasized that these models rely on hypothetical changes in market dominance and should not be seen as predictions of XRP’s actual end-of-year price.

At 5% market share, 500 units of XRP could be worth $1,700, while a 10% share projects a value close to $6,475 for the same holding. These figures reflect the mathematical impact of market dominance scenarios, not definitive expectations for where XRP will trade.

What Could Influence XRP’s Market Position?XRP’s market share could rise if its market capitalization grows faster than other digital assets. An increase may also happen in broader downturns, provided XRP outperforms competing cryptocurrencies during market corrections.

Several factors could contribute to XRP gaining higher dominance. Expanded participation by institutional investors through regulated investment vehicles could increase capital inflows. In addition, wider adoption of XRP for cross-border payments and settlements could spur demand, particularly among financial institutions needing reliable liquidity options.

Regulatory developments might also play a role by providing greater clarity and reducing uncertainty for companies considering integrating XRP or other digital assets into their operations.

Mini dictionary: Market dominance, or market share, refers to the percentage of the total cryptocurrency market capitalization attributed to a particular asset, measuring its relative size against all available cryptocurrencies.

While these factors could support growth, such high dominance levels would require XRP to consistently outpace the rest of the crypto sector.

Limitations and Uncertainty of Price ProjectionsSteph Is Crypto stressed that the outlined scenarios are purely mathematical. Achieving the $12.95 target would require significant shifts in market dynamics, capital inflows, and widespread adoption well beyond current levels. By comparison, reaching the $3.40 price point at 5% market dominance is seen as a less aggressive—but still uncertain—outcome.

The value projections give holders a way to understand how increased market share would impact their $XRP holdings, but the likelihood of these prices being reached by year-end remains unpredictable.

Neither analyst suggested that XRP is guaranteed to achieve these prices in 2026. The actual market trading price will reflect a complex mix of demand, supply, institutional activity, and regulatory considerations as the year progresses.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The countdown is currently on for fixCleanup3_4_0,  a collection of fixes for Single Asset Vaults, the Lending Protocol, Automated Market Makers, the permissioned DEX, trust lines, NFTs, MPTs, Escrow, Sponsorship, transaction signing, and permission delegation, which is set to activate on the XRP Ledger in the coming days.

An amendment needs more than 80% support, held for 14 days, to activate on the XRP Ledger, with a potential date of Oct 23, 2026, 9:34 AM UTC for fixCleanup3_4_0, in the next 4 days as seen on XRPScan.

fixCleanup3_4_0 follows fix upgrades in recent months. Back in March 2026, it was announced that Ripple was standing up a dedicated AI-assisted red team to continuously hunt for vulnerabilities in the XRP Ledger.

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The 3.1.3 release was the first dedicated security release to come out of this effort, with no new features, just hardening. This was followed by fixCleanup3_2_0, which was enabled in July.

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fixCleanup3_3_0, a collection of fixes for Single Asset Vaults, the Lending Protocol, Automated Market Makers, the permissioned DEX, Checks, and pseudo-accounts, was launched in October 2026.

Expectations are currently rising for fixCleanup3_4_0, which brings about 25 outlined changes to the XRP Ledger, including exempting an IOU issuer from their own global freeze on NFT offers in their own currency and changing authorized trust lines to implicitly authorize a pseudo-account counterparty, among others.

October developments continueOctober continues to be a busy month for the XRP Ledger and the Ripple ecosystem. XRP Seoul 2026, the largest XRP event in Asia, was held on October 3 with over 5,000 attendees.

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Permission delegation and Batch amendments were launched on October 8 and 9, respectively. In the days after its launch, Batch accounted for over 15% of XRPL mainnet transactions and was the number 3 transaction type.

From October 27 to 29, Swell will be held in New York, with Brad Garlinghouse, Terrence Duffy of CME Group, Tom Farley of Bullish, Matt Damon of Water.org, and leaders from BNY, Coinbase, Robinhood, Barclays, State Street, and Jump, among others, set to participate in the event.

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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TLDR: Justin Sun sold 80%–90% of his Ethereum near $3,600–$4,000 after identifying a fragile double-top pattern. He has not repurchased the Ethereum sold, although he retained a smaller core position and kept Bitcoin. Following the sale, Sun shifted capital into U.S. stocks, identifying Nvidia and Nasdaq-100 exposure. Ethereum closed near $2,402 on October 17, about 33%–40% below Sun’s reported $3,600–$4,000 exit range. TRON founder Justin Sun reduced his once-dominant Ethereum position by roughly 80%–90% as the cryptocurrency approached $4,000, then redirected substantial capital into American stocks. In an October 16 interview with Jin Ming, Sun said he sold between $3,600 and $4,000 and has not repurchased those tokens.

Instead, he kept a smaller Ethereum stake while leaving his Bitcoin holdings intact. Before that decision, Ethereum had been his largest cryptocurrency holding, making the reduction his most consequential disclosed digital-asset shift. The disclosure revealed a divide between assets he considered vulnerable to a reversal and investments he wanted to retain longer term.

Nvidia and Nasdaq-100 exposure became central to that shift. However, Sun provided no token volumes, proceeds, or precise execution dates, leaving the transactions independently unverified. He described the move as a response to market structure rather than a withdrawal from decentralized finance.

Double-Top Fears Behind Justin Sun’s 80%–90% ETH Sale Near $4,000 Sun linked the sale to a double-top formation he perceived after Ethereum approached $4,800, fell back, and staged another advance. That pattern describes two attempts to sustain higher prices, although it cannot independently establish a reversal.

Justin Sun: Sold 80–90% of ETH at $3,600–$4,000, Then Bought Heavily Into US Stocks

On October 16, 2026, Justin Sun @justinsuntron said in an interview with William Joy that he had sold 80–90% of his ETH position at around $3,600–$4,000, keeping only a core holding and had not… pic.twitter.com/yNSBZIRFHr

— Wu Blockchain (@WuBlockchain) October 18, 2026

He said exchange-traded fund demand supported the second rally, citing investor Tom Lee when describing its buying momentum. Rather than rely on continued support, he considered the rebound fragile and reduced his exposure.

The market subsequently weakened. Ethereum reached approximately $4,950 in August 2025 and approached $4,755 again that October. By October 17, 2026, it closed near $2,402, roughly 33%–40% below Sun’s reported selling range.

Even so, the exit did not end his Ethereum involvement. He described the network as his preferred venue for large-scale decentralized finance operations because of its deeper liquidity. The distinction separates trading an asset from using its underlying blockchain.

Nvidia and Nasdaq-100 Investments Followed the ETH Reduction After trimming ETH, Sun moved funds into U.S. equities, expecting investor attention to concentrate on American stocks. He identified Nvidia as a major holding and reported significant Nasdaq-100 exposure, without detailing allocations or purchase prices.

His position did not imply an unqualified bullish view of technology shares. Sun said he had become slightly bearish on the Nasdaq over the medium term, citing crowded AI investments and borrowing costs. That caution coincided with the Nasdaq Composite’s 2.1% decline on October 16. The index lost approximately 4.5% that week as investors questioned heavy artificial intelligence infrastructure spending.

Bitcoin remained a separate holding. Sun said he retained it throughout the previous year while monitoring potential cryptographic threats from artificial intelligence and quantum computing. He also described isolating Bitcoin in previously unused cold-storage addresses as a precaution, without predicting when such threats might materialize.

The crypto market enters October’s final weeks near $2.74 trillion, with several Crypto Events drawing attention across digital assets. 

Bitcoin price trades at $82,000, Ethereum is at nearly $2,421, and XRP is valued at roughly $1.30.

Federal Reserve Interest Rate Decision — October 28 The Federal Reserve meets on October 27–28, with its policy announcement scheduled for October 28 at 2:00 p.m. Eastern. The accompanying press conference starts at 2:30 p.m., offering further guidance about inflation, employment, and the interest rate outlook.

Fedwatch data The current federal funds target range stands at 3.75%–4.00%, following September’s quarter-point increase. Market expectations remain sensitive to incoming figures, particularly inflation readings and employment reports released before the meeting.

Ethereum’s Glamsterdam Upgrade on Hoodi — October 26 Ethereum’s Glamsterdam upgrade is scheduled for Hoodi on October 26 at 17:42:48 UTC, according to the Ethereum Foundation. The activation will test changes affecting block production, transaction validation, and gas accounting across the network.

Hoodi’s gas limit will also increase to 200 million, giving developers another opportunity to assess performance under updated rules. If it works, the testing will also bolster the confidence of people in Ethereum’s development path, but the impact on the market will depend on the market environment.

Finally, it may be necessary for developers to do more testing or tweak deployment approaches before taking it further in case of any technical problems. The Foundation has not announced a mainnet activation date, leaving the timing of wider deployment undecided. The Hoodi deployment itself will not reduce Ethereum mainnet fees or immediately increase the network’s transaction capacity.

Bitcoin and Ethereum Monthly Options Expiry — October 30 Deribit’s monthly Bitcoin and Ethereum options expire on October 30 at 08:00 UTC, the month’s final Friday. The exchange determines delivery prices using the relevant index’s average between 07:30 and 08:00 UTC.

Traders approaching settlement may close contracts, shift exposure into later expiries, or adjust hedges as market prices fluctuate. These modifications may exacerbate short-term volatility in prices, particularly if there are lots of outstanding shares that are concentrated around the strike price.

However, expiry alone provides no reliable indication of whether Bitcoin or Ethereum will move higher or lower. Position sizes, liquidity, and the market’s preceding direction will determine how strongly this settlement affects trading.

Other Top Crypto Events To Watch This Week Before those Crypto Events, the October 19–23 economic calendar brings additional signals about growth, inflation, and financial conditions.

Tuesday features ADP’s weekly employment update alongside housing releases, offering fresh evidence about hiring and property demand. 

Oil data for Wednesday may affect the price of energy, and demand for Treasury auction offers may influence the cost of borrowing for the government.

🚨 NEXT WEEK COULD BE BRUTAL FOR THE U.S. STOCK MARKET.

Wall Street is already under pressure from rising inflation, surging bond yields, and growing concerns about the AI debt boom.

And several major events next week could trigger even more volatility.

MONDAY: U.S. markets reopen amid rumors of a major AI fund blowup, although no collapse has been confirmed.

TUESDAY: ADP employment data and U.S. housing data. Weak numbers could raise fears of an economic slowdown just like 2007-08.

WEDNESDAY: U.S. oil inventory data and a $13 BILLION 20-year Treasury auction. Weak bond demand could push yields even higher, while low inventory data could pump oil prices, making the inflation situation worse.

THURSDAY: U.S. jobless claims and mortgage rates. More signs of weakness could increase recession concerns.

FRIDAY: S&P Global Manufacturing and Services PMI. This will show whether business activity is slowing while inflation pressures remain high and bond yields hit multi-decade highs.

And all of this is happening a week before the Fed’s October 27–28 meeting.

With inflation rising, bond yields above 5%, and AI stocks already under pressure, next week could bring another major market selloff.

— Crypto Rover (@cryptorover) October 17, 2026

Thursday’s jobless claims will provide another employment reading, with mortgage rate updates adding context about household financing pressures. 

Friday’s preliminary manufacturing and services PMIs will indicate whether business activity and pricing pressures are strengthening or easing.

Galaxy Research analyzes why Bitcoin weakened in October, pointing to weak corporate treasury buying and ETF outflows as the primary causes.

Galaxy Research Head of Research Alex Thorn points out that Bitcoin’s weakness in October is tied to weak growth in corporate Bitcoin reserves and net outflows from spot Bitcoin ETFs. Using the “institutional absorption vs. long-term holder address distribution” metric for analysis, the calculation is: spot ETF net inflows plus net additions to corporate reserves, minus the amount of Bitcoin that has been dormant on-chain for over five years and reactivated. Data shows that as of October 18, the year-to-date net value of this metric stood at roughly negative 127,300 BTC, meaning the distribution of old coins from long-term holding addresses has overall outpaced institutional uptake. The analyst also noted that the year-to-date net inflow of U.S. spot Bitcoin ETFs returned to positive territory in September and has barely held steady since, currently at around $355 million, with a small net outflow recorded so far in October.

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Qubic discloses security incident: Approximately $1.3 million in QU tokens stolen, affecting 1,404 Qubic wallets.

Qubic announced that between 23:42 UTC yesterday and 01:26 UTC today, attackers exploited insufficient randomness in the seed of some wallets to access and siphon approximately 2.94 trillion QU tokens from 1,404 Qubic wallets. The root cause lies in the seed generation mechanism, not the Qubic protocol itself. Affected seeds include those created in any iPhone or iPad browser before October 18, 2026, those created in Mac Safari on the same date, and those generated via the Qubic iOS App before July 2025. The network has been halted at tick 85,371,949. 87.1% of the stolen funds remain in the Qubic network and are frozen, while the remaining 12.9% has been transferred to MEXC, with the associated receiving accounts also frozen. Qubic said the seed generation issue has been fixed in version 4.26.4. Subsequent actions will be decided by the Computor quorum per network rules, and a full technical report will be published after a fund recovery plan is finalized.

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Viewpoint: Bitcoin has completed bottom hunting to liquidate long positions, may shift to a short squeeze next week, and maintains a bullish stance above $79,800.

Renowned trader Killa reviewed Bitcoin’s weekly chart trends, noting that last week, BTC fell from $87,000 to the $80,000 range before bouncing back 50%. After the current weekly chart opened, the token rallied on Monday but faced persistent resistance, eventually retesting the prior week’s low around $80,000. Currently, longs are the main targets of market liquidations, so there’s a high chance the trend will shift to targeting shorts next week. For short-term trades, closely watch for a retest of this week’s low at $79,800; if that occurs, look for long entry opportunities. Killa laid out a clear observation framework: If BTC does not retest the lows, focus on the $83,600 level. If the price fails to break above this level, the market will remain in a range-bound capitulation phase; if it breaks through successfully, the rally will push higher. He expects next week’s weekly chart open will move upward, forcing late shorts who entered short positions against the recent rally to cover their positions. In the worst-case scenario for bulls, BTC could dip to the $76,000–$78,000 range. The analyst also explicitly ruled out the extreme scenario of a retest of $74,000.

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US and South Korean stock market price preview for Monday: SK Hynix and Samsung are expected to open nearly 5% lower, while US stocks are set to open nearly flat in pre-market trading.

During the weekend when traditional markets are closed, Trade.xyz — dubbed the "On-Chain Nasdaq" — leverages perpetual contracts to enable continuous trading and real-time price discovery that traditional finance cannot achieve, pricing in advance the upcoming Monday’s U.S. and South Korean stock market trends. Most popular U.S. stock assets on Trade.xyz saw minor declines from their Friday after-hours levels, with an overall flat-to-slightly-weak opening expected on Monday. Their weekend performance is as follows: SpaceX is currently priced at $144.66, down from $145.47 in U.S. Friday after-hours trading; Micron (MU) is at $869.99, versus $875.98 in Friday after-hours; SanDisk (SNDK) is at $1,275.4, compared to $1,292.43 in Friday after-hours; NVIDIA is at $213.57, versus $213.75 in Friday after-hours; Marvell Technology (MRVL) is at $225.84, versus $226.9 in Friday after-hours; Intel is at $88.89, versus $89.33 in Friday after-hours; Google is at $339.68, versus $339.22 in Friday after-hours; AMD is at $527.09, matching its Friday after-hours level. Popular South Korean stocks on Trade.xyz have dropped notably from their Friday closing prices, with an expected opening decline of 4%–5% on Monday. Their weekend performance is as follows: Samsung Electronics is currently priced at $155.81, down from $161.75 at Friday’s close; SK Hynix is at $907.95, versus $954.75 at Friday’s close.

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Bitcoin Jesus renounced his U.S. citizenship to evade taxes, only to be ordered to pay nearly $50 million in expatriation tax a decade later.

Earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with Roger Ver, known as "Bitcoin Jesus", under which fraud and tax evasion charges against him will be dropped in exchange for a maximum fine of $49.9 million. As one of the earliest Bitcoin evangelists, Ver purchased large amounts of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he obtained citizenship of the Caribbean island nation of St. Kitts and Nevis, and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoin, worth over $70 million at the then-current price. He thought changing his nationality would let him escape the U.S.'s high taxes, but the U.S.'s strict "expatriation tax" foiled his plan. Under U.S. tax law, eligible expatriates must treat their global assets as if sold on the day before expatriation and pay capital gains tax. Ver reported $1.03 million in taxes, but not only failed to disclose his personal Bitcoin holdings, he also severely undervalued his company assets. A decade later, the IRS uncovered his fraudulent tax evasion (fraud and tax evasion are not subject to statute of limitations), ultimately forcing him to pay up to $49.9 million in back taxes, penalties, and interest—48 times the amount he had self-reported paying that year.

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Justin Sun resumes trading PEPE after a two-year hiatus, receiving $28.44 million worth of the token from Poloniex's multi-signature address.

On-chain analyst Ai Yi (@ai_9684xtpa) has monitored that Justin Sun is trading PEPE again after a two-year hiatus. 22 hours ago, Sun’s address 0x176…0a132 received 7.2 trillion PEPE tokens from Poloniex’s multi-sig address, valued at $28.44 million. This marks his first on-chain PEPE transaction since June 2024, when the token was priced at $0.00001256.

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3 hours ago

According to TradingBeats' monitoring, prominent crypto figure Jeff Huang (nicknamed "Maji Big Brother") had his entire account liquidated earlier this morning. Later that evening, he added $100,000 in margin and opened a new 25x long Ethereum position worth $4.3 million at an entry price of $2,398. A year ago, Huang had earned $44.84 million in profits on Hyperliquid; he has since given back all those gains and incurred an additional $36.85 million in losses.

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Ethereum is preparing for a significant scaling enhancement as its development team plans to raise the gas limit on the Hoodi testnet to 200 million on October 26. This technical milestone arrives as ETH continues to face selling pressure, with prices struggling to recover from declines seen earlier in October.

Major testnet upgrade targets network efficiencyThe Ethereum Foundation announced that the Glamsterdam upgrade will go live on the Hoodi testnet at 17:42:48 UTC, following its initial rollout on Sepolia on October 6. The upgrade is designed to optimize block production, transaction execution, and the overall efficiency of the Ethereum network.

While the timing for Glamsterdam’s debut on Ethereum mainnet remains unconfirmed, the current focus is on evaluating its performance in the testnet environment before a broader deployment is considered.

A central feature of Glamsterdam is its combination of multiple protocol-level advancements, including enshrined proposer-builder separation, block-level access lists, and updates to how gas usage is calculated within blocks.

The planned increase to a 200-million gas limit on Hoodi is a sharp rise from the previous 60-million level, marking more than a threefold jump in capacity for block processing.

Set at this level, the upgrade could significantly boost throughput, allowing for more transactions to be processed within each block as long as network validators remain capable of handling the increased workload efficiently.

TestnetPrevious Gas LimitNew Gas LimitGlamsterdam Rollout DateSepolia60 million200 millionOctober 6Hoodi60 million200 millionOctober 26Additional features include improvements to how clients access blockchain state and validate transactions, with block-level access lists designed to enhance parallel processing capabilities. Revised gas rules will provide more precise accounting for resource-heavy operations.

Previous 200-million gas testing on Ethereum’s Layer-1 focused on whether increased capacity could be achieved without imposing unsustainable demands on network operators.

Despite this technological progress, analysts caution that higher capacity does not guarantee a rise in ETH’s price. Reduced transaction costs may emerge from these improvements, but effects on Ethereum’s fee revenue and the token’s burning mechanism will ultimately depend on real network usage.

Mini dictionary: Enshrined proposer-builder separation is a protocol feature that separates the responsibilities of proposing and building blocks within Ethereum, aiming to increase decentralization and improve network resilience against certain types of manipulation common in traditional block production systems.

ETH price under pressure amid technical progressOn October 18, ETH traded in the $2,400–$2,425 range, down around 11% from its early-October peak near $2,726. This placed Ethereum at a key support region as developers advanced one of the network’s most ambitious scaling initiatives.

Since reaching $2,726 on October 5, ETH has retreated, losing the $2,500 support level during a broader market decline. The cryptocurrency is now stabilizing near $2,400, regarded as a psychologically important threshold by traders.

ETH would need a move above $2,445–$2,485 to strengthen its immediate recovery prospects, with $2,500 set as the next key resistance. If bulls regain momentum beyond this point, the $2,560–$2,600 region may represent the next upside target, while a sustained drop below $2,400 could see prices test $2,350 or even $2,300 if selling persists.

Compared to the previous outlook around the Glamsterdam upgrade, when ETH traded near $2,680 and market expectations pointed toward $2,800, the current landscape appears more fragile.

The scheduled October 26 deployment on Hoodi stands out as a tangible development milestone for the Ethereum roadmap, although its market impact remains unclear in the short term.

A successful launch on Hoodi would advance Glamsterdam toward mainnet readiness and may bolster confidence in Ethereum’s broader scaling path. However, any disruption, such as compatibility challenges or underwhelming testnet performance, could temper this optimism.

While Glamsterdam strengthens the narrative around Ethereum’s technical evolution, a renewed rally in ETH will still require increased market demand and positive sentiment beyond the testnet milestones.

For investors and users, the immediate challenge centers on the $2,400 support level versus the possibility of reclaiming $2,500 and targeting higher resistance zones into the $2,600 range.

U.S. spot Ethereum ETFs have recorded roughly $320.1 million in net withdrawals for the week ending October 16, exceeding Bitcoin ETFs’ $228.4 million in outflows as investors reduced exposure to both cryptocurrencies.

Summary

Ethereum ETFs recorded approximately $320 million in weekly withdrawals, exceeding Bitcoin funds by $92 million overall.
BlackRock’s ETHA accounted for nearly $299 million of Ethereum ETF outflows during the five trading sessions.
Bitcoin ETFs attracted fresh investments on two trading days, while Ethereum funds gained money only Tuesday.
CoinGecko showed Bitcoin near $81,238 and Ethereum around $2,386 on October 18 as prices remained weak.
Ethereum funds suffered three consecutive weeks of withdrawals, while BlackRock’s ETHA led the latest weekly losses.

According to Farside Investors’ daily fund-flow records, Ethereum products ended four of the five trading sessions in negative territory, while Bitcoin funds managed two days of net inflows. BlackRock’s iShares Ethereum Trust (ETHA) accounted for nearly $299 million in weekly withdrawals, making it the largest contributor to Ethereum’s negative total.

The withdrawals coincided with another difficult week for cryptocurrency prices. Bitcoin briefly fell below $80,000 before recovering, while Ethereum traded near $2,300 during the selloff.

CoinGecko showed Bitcoin at approximately $81,238 and Ethereum at $2,386 on October 18, after the U.S. ETF trading week had ended.

Ethereum ETF outflows exceed Bitcoin by $92 million
Ethereum ETFs finished the October 12–16 trading week with approximately $320.1 million in net withdrawals, compared with $228.4 million from Bitcoin ETFs.

The difference amounts to roughly $91.7 million using Farside’s rounded daily figures.

Monday brought $85.4 million in Ethereum ETF withdrawals, followed by $24.8 million in net purchases on Tuesday.

Investors resumed pulling money on Wednesday, removing $129.5 million, the category’s largest single-day withdrawal of the week.

Thursday recorded another $60.3 million in outflows, while Friday ended with a $69.7 million reduction.

Across the five sessions, Ethereum funds recorded just one positive day. Bitcoin ETF activity followed a different pattern. Monday began with $65.4 million in withdrawals before buyers added $175.7 million on Tuesday.

Wednesday reversed that recovery, with $261.4 million leaving Bitcoin products. A smaller inflow of $5.1 million followed on Thursday, while Friday ended with $82.4 million in withdrawals. The Wednesday loss was Bitcoin ETFs’ worst single session of the week, exceeding the category’s entire five-day net withdrawal total.

Bitcoin products therefore experienced larger individual daily movements, even though Ethereum funds recorded the heavier cumulative outflows. For a direct comparison, the combined net withdrawals from both categories reached approximately $548.5 million over the five trading days.

BlackRock’s ETHA leads Ethereum ETF withdrawals
The majority of Ethereum’s weekly outflows came from one investment product.

Farside’s fund-by-fund data show that BlackRock’s ETHA recorded roughly $299 million in net withdrawals between October 12 and October 16.

That represented approximately 93.4% of the Ethereum ETF category’s net weekly outflow.

The percentage compares ETHA’s withdrawals with the category’s net total after inflows and outflows from other funds offset one another. It does not mean ETHA accounted for 93.4% of every dollar redeemed across all Ethereum products.

On Wednesday alone, ETHA lost $109.8 million, followed by $44.4 million on Thursday and $69.7 million on Friday.

Fidelity’s FETH moved in the opposite direction during parts of the week, attracting $8.1 million on Tuesday and $2.4 million on Thursday. Grayscale’s Ethereum Mini Trust received $16.7 million on Tuesday but recorded withdrawals on other sessions, leaving it negative for the week.

Other products, including Grayscale’s ETHE and Franklin Templeton’s EZET, contributed to the total withdrawals. For Bitcoin, BlackRock’s iShares Bitcoin Trust (IBIT) lost approximately $165.4 million over the same five sessions.

Fidelity’s FBTC recorded another $60.2 million in net outflows, while Morgan Stanley’s MSBT gained approximately $6.7 million.

The fund-level breakdown shows how withdrawals from a small number of large products shaped the results.

Previous crypto.news coverage of ETF withdrawals documented a $484.9 million Bitcoin ETF outflow on October 7, when ETHA recorded another substantial withdrawal.

The October 12–16 figures came after that earlier period of heavy selling.

Bitcoin and Ethereum prices fall during ETF withdrawals
The fund outflows occurred while both underlying cryptocurrencies traded below levels recorded earlier in October.

According to CoinGecko’s October 18 market data, Bitcoin stood near $81,238, with a 24-hour range of approximately $80,823 to $82,178 at the time of the check.

The asset had briefly fallen below $80,000 during the previous week, reaching a low near $79,800 before rebounding.

An October 14 Bitcoin market update recorded BTC trading below $82,000 after U.S. inflation data came in higher than expected.

The September consumer price index showed annual inflation of 3.7%, compared with forecasts of 3.6%.

The data arrived on Wednesday, the same trading day Bitcoin ETFs recorded their largest withdrawal of the week.

The timing establishes that the events occurred together. It does not establish that the ETF redemptions alone caused Bitcoin’s price decline.

Ethereum faced similar pressure. CoinGecko placed ETH near $2,386 on October 18, with the token trading between approximately $2,364 and $2,427 over the preceding 24 hours.

The market had approached $2,300 during the week’s decline.

In an October 15 report on Ethereum liquidations, analyst Darkfost identified $106 million in ETH long-position liquidations within one hour following the inflation release.

Those liquidations concern leveraged cryptocurrency derivatives positions, which are separate from spot ETF subscriptions and redemptions.

ETF net flows measure money entering or leaving investment funds through share creation and redemption activity. Changes in the market value of existing ETF assets can occur without equivalent investor withdrawals.

Ethereum funds extend three-week losing streak
The October 12–16 results marked a third consecutive week of net withdrawals from U.S. spot Ethereum ETFs.

During the previous week, October 5–9, the products lost roughly $542 million, according to Farside’s daily records.

The latest withdrawals were smaller but continued the negative weekly pattern.

Across the three weeks ending October 16, Ethereum ETF outflows totaled approximately $1 billion based on the reported weekly figures.

Bitcoin ETFs followed a different recent pattern. They recorded approximately $679 million in withdrawals during October 5–9, making the subsequent $228 million weekly loss comparatively smaller.

Earlier in September, Bitcoin funds had attracted close to $2.4 billion during the week ending September 25, demonstrating how quickly weekly fund flows can change direction.

A separate weekly ETF market report published October 17 recorded $610.7 million in net withdrawals across five tracked cryptocurrency ETF categories.

That total included Bitcoin, Ethereum, Solana, Zcash and Hyperliquid products. The Bitcoin and Ethereum portions accounted for approximately $548.5 million of the combined figure.

Farside’s October 16 cumulative tables placed net inflows since launch at approximately $56.95 billion for Bitcoin ETFs and $12.97 billion for Ethereum ETFs.

Those cumulative amounts remain positive despite the latest withdrawals. They represent net investor flows over the products’ operating histories, not the total market value of the fund portfolios.

The records show that Friday’s Ethereum ETF withdrawals came entirely from BlackRock’s ETHA, which lost approximately $69.7 million, while the remaining tracked Ethereum products reported zero net flows that session.

Ethereum is testing a critical support confluence below $2.4K as its correction continues. Buyers have defended the area with several sharp reactions, but persistent lower highs suggest that selling pressure has yet to ease.

Ethereum Price Analysis: The Daily Chart On the daily timeframe, ETH has declined into the highlighted $2.36K–$2.44K demand zone, where the lower boundary of the broader ascending channel provides additional support. The asset is currently near $2.36K, with recent lower wicks indicating buying interest beneath the consolidation.

However, these reactions have not produced a sustained recovery. Since losing the channel’s midpoint, ETH has continued to form lower highs, keeping the immediate outlook fragile. Buyers need to reclaim the $2.44K demand boundary and then overcome the recent $2.5K–$2.56K resistance area to demonstrate improving strength.

Holding the current confluence could support a recovery toward the former consolidation around $2.67K–$2.74K. Conversely, a decisive daily close beneath $2.36K and the ascending channel boundary would weaken the broader recovery structure, increasing the risk of a deeper correction toward $2.2K.

ETH/USDT 4-Hour Chart The 4-hour chart shows Ethereum trading within a descending channel following the sharp early-October selloff. Repeated rebounds have failed to break the upper trendline, while the latest candles are consolidating inside the $2.36K–$2.44K demand zone.

The descending resistance currently approaches $2.45K–$2.47K, making this the first important obstacle to a recovery. A sustained breakout above both the demand zone’s upper boundary and this trendline would interrupt the immediate bearish structure and could allow a move toward $2.5K–$2.58K.

Until that occurs, another test of $2.35K remains possible. Losing this support would expose the recent wick lows around $2.32K, followed by the highlighted $2.2K–$2.27K demand zone. The descending channel’s lower boundary also approaches that deeper region, reinforcing its relevance if the correction extends.

Sentiment Analysis The one-month ETH liquidation heatmap highlights a substantial estimated liquidation cluster around $2.15K–$2.2K, above the psychological $2K threshold. The band has remained visible across multiple sessions and is particularly bright near the chart’s latest readings, indicating a significant concentration of potential liquidation exposure below the current price.

This cluster becomes especially relevant if Ethereum loses the $2.36K support zone and its broader ascending structure. Under that scenario, further declines could trigger long liquidations as the price approaches $2.2K, potentially accelerating the move into this liquidity pool.

Its proximity to the $2.2K–$2.27K technical demand zone adds significance to that broader area. However, the cluster represents potential forced-selling exposure rather than guaranteed support or an inevitable price target. A sustained recovery above nearby resistance would reduce its immediate relevance, while continued structural weakness would keep it in focus.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

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Analyst Maps Out 3 Reasons to Be Bullish on Dogecoin (DOGE): But Should You Really Be?

Charles Hoskinson, founder of the Cardano blockchain platform, has disclosed efforts to create a new programming language designed specifically for Cardano. He aims to integrate advanced cryptographic features that could elevate the blockchain’s technical capabilities.

Focus on advanced cryptographyHoskinson explained that the forthcoming language will support both “intents” and “proof-carrying data” (PCD) by utilizing Groth16 proofs. These enhancements aim to make Cardano more adaptable for complex blockchain applications and further solidify its security and privacy standards.

Groth16 is a succinct non-interactive zero-knowledge proof system commonly used in privacy-focused blockchains. Its implementation allows users to prove possession of certain information without revealing it. Most notably, this technology underpins privacy features in networks like Zcash.

He shared the update in response to a community question seeking to understand Cardano’s unique advantages as a decentralized blockchain suitable for various use cases.

Despite his announcement, Hoskinson did not specify the new language’s name, technical specifications, or when it might become available to developers.

In a separate statement, Hoskinson described a different concept he is pursuing, stating, “I’m working on a concept that only Midnight can bring to the cryptocurrency space to solve most of the problems. It’s gonna be the magnum opus for my career.”

At this stage, it remains unclear whether the planned programming language and the Midnight project are directly connected.

Mini dictionary: Proof-carrying data (PCD), in cryptography, is a technique where cryptographic proofs can be transferred along with data, allowing subsequent parties to verify facts about the data’s origin or transformations without trusting intermediaries.

Hoskinson’s history with programming languagesCharles Hoskinson has frequently shared his opinions about the merits of various programming languages. Cardano was initially architected using Haskell, a functional programming language, due to its mathematical rigor and suitability for highly reliable code.

In June 2022, Hoskinson joined a discussion between Elon Musk and Jack Dorsey regarding programming language preferences. After Musk expressed favor toward the C programming language over C++, Hoskinson suggested they explore Haskell as an alternative.

However, Hoskinson has since stated that his decision to use Haskell for Cardano’s development was not an entirely certain choice. In May 2024, he mentioned that he considered using Clojure at one point but ultimately selected Haskell due in part to the availability of Cloud Haskell and accompanying technologies like Liquid Haskell and Agda.

During an interview in April 2025, Hoskinson remarked that, given another opportunity to start Cardano’s development from scratch, he might choose a different programming language.

“I’m actually personally developing a programming language for Cardano. It’s the first of its kind enabling intents and PCD via Groth16 proofs,” Hoskinson stated.

He noted that he is working on a concept unique to Midnight which he believes could address the majority of cryptocurrency challenges, calling it the magnum opus of his career.

Tether has invested in San Francisco-based artificial intelligence startup AIsa alongside HIVEN, completing a seed extension round that brings the company’s total funding to more than $9 million.

Summary

Tether and HIVEN joined AIsa’s latest funding round, bringing its total investment above $9 million. AIsa previously reported $6.5 million in funding after Alibaba and Tribe Capital backed its development. Tether confirmed its investment but did not reveal the amount contributed or its ownership stake. AIsa provides AI agents with access to paid data, software tools, and controlled payment services. Tether said AIsa supports over 250,000 operating agents and has processed 100 million transactions worldwide. In an October 15 announcement, AIsa confirmed that the two investors had joined its existing backers, including Alibaba, Tribe Capital, Sumitomo Corporation, Draper Associates and Saison Capital. The company develops technology that allows AI agents to access online services and make payments while following spending limits set by businesses.

Tether Capital separately confirmed its participation, describing the investment as part of its work on AI-powered payments and programmable money. Neither company disclosed the amount Tether invested, AIsa’s valuation or the ownership stake acquired through the transaction.

The funding follows AIsa’s earlier financing announcement in July, when the company reported cumulative capital of $6.5 million.

Tether joins AIsa funding round as capital tops $9 million The October financing brings AIsa’s reported funding total above $9 million, with Tether and HIVEN joining an investor group that already includes technology companies and venture capital firms.

In July, Alibaba and Tribe Capital co-led AIsa’s earlier seed round. Draper Associates, Sumitomo Corporation and Saison Capital participated in that financing, according to the company’s July 3 disclosure.

At the time, AIsa said it had secured $6.5 million in funding since its founding in 2025. Its latest announcement places cumulative investment at more than $9 million.

Comparing the two disclosed totals shows that AIsa has added more than $2.5 million to its reported funding since July.

However, the difference does not establish the exact size of the October extension. AIsa has not disclosed the individual contributions from Tether and HIVEN or explained whether other financing transactions occurred between the two announcements.

The company has not announced a new valuation or published the terms governing its latest financing.

Tether’s investment came through Tether Capital, the company’s investment arm based in El Salvador. According to its official announcement, the investment business deploys capital from company profits and excess reserves into technology, finance and other industries.

For AIsa, the funding supports work on a network designed to connect enterprise AI systems with paid digital services.

The company plans to develop its resource marketplace, payment infrastructure and enterprise controls, building on projects introduced during its earlier funding round.

AIsa builds payment tools for enterprise AI agents AIsa’s platform allows AI agents to find and purchase access to external data, AI models, application programming interfaces and business software.

Its system combines service access with payment processing, allowing companies to manage purchases through a single interface instead of maintaining separate accounts and subscriptions for every provider.

According to the company’s October 15 statement, the platform includes usage tracking, billing and settlement alongside controls for permissions, budgets and transaction approvals.

Businesses can establish spending limits before allowing AI agents to purchase services. AIsa says its infrastructure records transactions and provides audit trails for monitoring how automated systems use company resources.

The company describes this model as its Trusted Resource and Transaction Network for Enterprise AI Agents.

For example, a research agent preparing a report could access paid financial information through the platform, with the business controlling the amount it is allowed to spend.

An enterprise agent managing procurement could use connected services to obtain information, access software and complete permitted transactions without requiring a separate purchasing arrangement for every provider.

AIsa said payments can use conventional currencies or stablecoins, depending on the service and transaction arrangements.

Tether’s October 15 statement described stablecoins as one option for paying providers through the platform. It did not announce that every transaction would settle in USDT or that AIsa would exclusively use Tether-issued tokens.

Jordan Liu, AIsa’s founder and CEO, said enterprise AI agents require “trusted information, useful tools and a governed way to transact.”

He described the company’s plans as building infrastructure that allows automated systems to access resources and make authorized payments while businesses retain control over permissions and spending.

Tether identifies AI payments as an investment opportunity Tether Chief Executive Paolo Ardoino linked the investment to the growing use of AI systems that carry out tasks on behalf of individuals and businesses.

In Tether’s investment statement, Ardoino said users need control over what automated agents spend as those systems take on more responsibilities.

He described AIsa as developing infrastructure that combines access to paid services with financial controls.

The announcement included company-reported usage figures showing more than 250,000 agents operating on AIsa’s platform and over 100 million transactions processed.

AIsa’s network provides access to more than 5,000 APIs, software tools and models through a single account, according to Tether.

The figures were presented by the investor and have not been independently audited. Neither announcement disclosed the proportion of transactions settled using stablecoins or the total payment value processed.

The company’s July funding statement had reported more than 50,000 registered agents and said activity grew substantially during the first half of 2026.

Those earlier registrations and the latest count of operating agents use different descriptions, so the two figures do not establish an exact increase in active customers.

Tether has pursued related investments involving AI systems capable of managing transactions.

In June, crypto.news reported Tether’s robotics investment as NEURA Robotics announced financing of up to $1.4 billion from a group of backers that included Tether, Nvidia and other technology companies.

Tether’s October investment announcement referred to plans involving its Wallet Development Kit and QVAC technology within robotic systems.

The Wallet Development Kit supports the development of self-custodial wallets, while QVAC is designed to support AI functions running on local devices.

Earlier in May, Tether-backed Oobit introduced AI payment cards designed to allow approved business agents to make purchases using USDT.

The product included transaction-level spending restrictions and merchant controls intended to govern automated purchases.

AIsa begins enterprise trials as Tether expands AI investments The funding announcement follows a period of investment activity supported by Tether’s earnings from its reserve assets.

In July, the company reported $1.5 billion in profit for the second quarter of 2026, with returns from U.S. Treasury holdings and repurchase agreements contributing to its financial results.

The company’s reported assets totaled approximately $187.7 billion at the end of June, while excess reserves stood near $4.1 billion.

Those figures describe Tether’s financial position during the second quarter. They do not identify how much of its capital was allocated to the AIsa investment.

Tether’s technology work has included products outside payments. On October 15, the company released an offline speech model designed to run on phones, smart glasses and robotic devices without sending audio to cloud servers.

AIsa, meanwhile, said it had begun pilot programs with enterprises exploring uses for automated agents in financial intelligence, market research, supply-chain management and commerce.

The company did not identify its pilot partners or disclose the number of active contracts, their commercial value or whether the programs had progressed to full production deployments.

Its October announcement named expanding the global resource network, strengthening enterprise spending controls and developing transaction infrastructure as its next priorities.

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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Cysic has suspended its cross-chain bridge after an attacker reportedly exploited a processing flaw to mint 10 million CYS tokens without authorization on BNB Smart Chain on October 17.

Summary

Cysic suspended its cross-chain bridge after an attacker reportedly minted 10 million unauthorized CYS tokens.
The attacker allegedly exploited bridge processing weaknesses after gaining unauthorized access to a supporting database system.
Cysic blacklisted an address holding approximately 2.8 million CYS, restricting further transfers from that wallet.
The project said its mainnet remained unaffected and existing customer wallet assets were not stolen.
Investigators are reviewing token movements and potential losses before Cysic releases its next security report publicly.

In an October 18 statement, the Cysic Foundation said its preliminary investigation identified unauthorized access to a database supporting the bridge, followed by the submission of fraudulent minting messages.

The company confirmed that it had stopped bridge operations and restricted transfers from an address holding approximately 2.8 million CYS. It said its mainnet and other operational systems remained unaffected, while investigators continued examining the movement of the newly created tokens.

Cysic has not established a final financial loss. Its incident report distinguishes the number of tokens created from the value an attacker may have obtained through completed transactions.

Cysic bridge exploit creates 10 million unauthorized tokens
The attack took place on October 17, with the unauthorized mint recorded at 12:31:38 UTC, according to the project’s incident timeline.

Preliminary findings indicate that the attacker accessed a database used by Cysic’s cross-chain bridge and exploited weaknesses in its message-processing logic.

The bridge processes instructions associated with transfers between supported networks. In this incident, the attacker allegedly manipulated that process to authorize the creation of CYS tokens on BNB Smart Chain.

The Foundation has described the affected components as bridge message processing and minting. It has not identified a compromise of the underlying Cysic mainnet.

Following the unauthorized issuance, the team suspended the bridge to prevent further activity through the affected service while the investigation continued.

The technical findings remain preliminary. Cysic has not released a complete account of the database access method, the precise code weakness or the sequence of transactions used to trigger the mint.

No independent forensic report was available in the material accompanying the initial announcement.

Cysic blacklists wallet holding 2.8 million CYS
After detecting the attack, the team identified a recipient address associated with the unauthorized tokens.

At 13:47:52 UTC on October 17, Cysic added the address to the token contract’s blacklist, preventing it from transferring the tokens remaining at that location.

The restriction came one hour, 16 minutes and 14 seconds after the reported mint.

Approximately 2.8 million CYS remained at the blacklisted address. Using the announced 10 million-token issuance as the reference amount, the restricted balance represented 28% of the unauthorized mint.

The other 7.2 million tokens were not included in that reported remaining balance. Their absence from the restricted address does not establish how many were sold, transferred elsewhere, recovered or converted into other cryptocurrencies.

Cysic said investigators were tracing token transfers and reviewing possible swaps to determine the actual financial consequences.

The company has not published a verified total for proceeds received by the attacker, a complete list of recipient addresses or an independent valuation of assets that may have left the affected system.

Although the unauthorized mint involved 10 million CYS, the issuance figure cannot be treated as a confirmed dollar loss.

A calculation based on a token’s market price would estimate the notional value of the newly created supply. It would not establish the amount an attacker could actually sell or withdraw from available trading liquidity.

Cysic has not reported a completed recovery of the tokens outside the blacklisted address.

Cysic says mainnet and existing wallet assets remain safe
In its initial assessment, the Foundation limited the breach to its cross-chain bridge infrastructure.

The company said the incident did not affect Cysic mainnet operations or other parts of its network. It reported no unauthorized removal of existing CYS balances or other assets from customer wallets.

Those statements describe the project’s preliminary findings. They do not amount to a completed independent security audit.

A cross-chain bridge allows tokens or transfer instructions to move between separate blockchain environments. Bridge operators commonly rely on processing systems that verify activity on one network before authorizing corresponding activity on another.

Cysic’s reported attack involved the authorization of new tokens through manipulated messages. The available disclosure does not describe attackers directly withdrawing the underlying assets from users’ wallets.

The Foundation has engaged an external security company to examine the incident and trace the activity connected to the unauthorized issuance.

Its investigation covers the attack path, affected infrastructure and the movement of minted tokens. The project intends to publish a follow-up report after the current review.

No reopening date for the suspended bridge has been announced.

CYS powers computing and governance within the network
Cysic describes its platform as a decentralized computing network that uses blockchain technology to coordinate computing resources and reward participants.

According to its official tokenomics, CYS supports network governance, access to computing resources and payments to participants who provide hardware or perform computing tasks.

The project’s published token supply is 1 billion CYS, with separate allocations for ecosystem incentives, investors, contributors, its foundation treasury and community liquidity programs.

The unauthorized 10 million-token mint equals 1% of that stated total supply, based on the project’s tokenomics figures.

The comparison measures the scale of the unauthorized issuance against the published supply. It does not establish whether all the minted tokens entered circulation or changed the effective supply available for trading.

CYS holders can stake tokens to receive Cysic Governance Token, or CGT, which the project describes as nontransferable governance credit.

Under its published design, CGT supports participation in protocol proposals, validator selection and decisions involving network economic parameters.

Compute providers use CYS to reserve capacity for tasks including zero-knowledge proof generation and artificial intelligence workloads. The token is used for incentives tied to those activities.

The Foundation’s allocation schedule assigns 40.19% of the token supply to ecosystem incentives, 23.62% to investors and 12.11% to contributors.

Another 8% is allocated to the foundation treasury, while community incentives and liquidity account for 16.08%.

Other bridge incidents show why minted supply and losses differ
Unauthorized token creation has appeared in several other cross-chain security incidents during 2026, although the technical causes and financial consequences have varied.

In August, crypto.news reported a bridge exploit involving The Sandbox’s SAND token on Base and BNB Smart Chain.

The Sandbox suspended affected bridge operations after attackers created unauthorized tokens through compromised permissions. Its initial response distinguished the newly minted supply from the assets directly affected.

A subsequent analysis of the attack found that approximately 329 trillion unbacked SAND tokens had been created, while the confirmed reserve drain was much smaller, at roughly $675,000.

During a separate incident in May, Stake DAO closed its affected bridge after an attacker minted unauthorized vsdCRV on Arbitrum.

The project said its Ethereum mainnet backing remained secured and that key products continued operating.

More recently, an October 13 report covered a suspected bridge exploit affecting Autheo’s THEO token. Security firm PeckShield reported that an attacker created 19 million THEO and exchanged tokens for approximately 700.8 ETH.

Cysic’s investigation has not yet established a comparable figure for assets exchanged or withdrawn. The Foundation plans to release a further report after the security review produces more complete findings.

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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A bridge hack let an attacker mint unauthorized CYS tokens on BNB Smart Chain, forcing Cysic to suspend its bridge.
Preliminary findings point to a breached database and a flaw in how the bridge processed mint messages.
Cysic says its mainnet and assets already held in user wallets were not touched.
The attack extends a run of unbacked token mints on cross-chain bridges this year.

A bridge hack has forced Cysic, a zero-knowledge proving network, to shut down its cross-chain bridge after an attacker used it to mint 10 million CYS tokens on BNB Smart Chain on October 17 without any matching deposit on another network. In a preliminary report published on X on October 18, the Cysic Foundation said the attacker gained access to a database used by services supporting the bridge and abused a weakness in how mint messages were processed, while stressing that its mainnet and the assets already held in user wallets were not affected. The foundation blacklisted the receiving wallet 76 minutes after the mint, and by that point only about 2.8 million of the new tokens were still sitting there.

How 10 Million CYS Reached BNB Chain
Cysic’s bridge moves CYS between the project’s own chain and outside networks, including BNB Smart Chain and Base. The rogue mint went through at 12:31:38 UTC, and once the team added the recipient address to the token contract’s blacklist at 13:47:52 UTC, roughly 28% of the issuance was frozen in place. The remaining 7.2 million CYS had already left that wallet, although tokens that moved are not automatically tokens that were sold, and Cysic says it is still tracing transfers and swaps before it puts a dollar figure on the damage. On-chain flows reviewed after the incident suggest that around $727,000 in value was moved to Ethereum, a number the foundation has not confirmed.

Cysic Bridge Hack Timeline

Oct 17, 12:31 UTC

10 million CYS minted on BNB Smart Chain without a matching deposit

Oct 17, 13:47 UTC

Receiving wallet blacklisted, about 2.8 million CYS frozen

Oct 18

Preliminary report confirms bridge suspension and external security review

Next steps

Loss assessment, fixes and security sign-off before the bridge reopens 

The 10 million tokens equal 1% of the project’s stated 1 billion CYS total supply. For holders, the larger risk lies in the 7.2 million that escaped the freeze, because the attacker can still push any unsold portion into thin order books whenever an exit route opens up.

Why the Contract Obeyed a Fake Order
Everything a bridge does depends on one check: before it mints tokens on the destination chain, it has to confirm that the same amount was locked or burned on the source chain. Many bridge contracts cannot check that on their own and instead rely on a relayer or message service to deliver the confirmation, so anyone who can write to the database behind that service can hand the contract an instruction that looks valid, and the contract will execute it even though no deposit ever happened. Cysic’s security documentation lists third-party audits covering its token contracts, minting permissions and bridge infrastructure, yet the preliminary report does not say whether the database-processing path the attacker used fell within the scope of those reviews, and it has not explained how the database was reached in the first place.

The blacklist cuts both ways. Without an admin function able to freeze an address, all 10 million CYS would have been free to move, but the same power lets a small group of keyholders lock any wallet holding the token, which is a trade-off that holders of centrally administered tokens accept whether or not they think about it.

Five Months of Bridge Failures
Cysic’s is the second bridge hack to end in an unbacked mint in less than a week, and the list stretches back to spring.

Project
Date
What happened

Autheo (THEO)
Oct 12
At least 19M unbacked THEO minted

NEAR Intents
Oct 1
About $3.8M drained, returned next day

Meter Passport
Sep 23
About $2.3M in unbacked MTRG sold

Secret Network / Axelar
June
About $4.67M redeemed via forged deposits

Alephium
May 30
13.76M unbacked wrapped ALPH minted

Figures from project disclosures and independent on-chain analysis.

Autheo’s case sits closest in time. Block explorer data shows 19 million unbacked THEO minted on Base on October 12, and one on-chain researcher has claimed the total reached 119 million, a figure Autheo has not confirmed. Security monitors traced the mint to a bridge route that relied on a single trusted relayer to approve incoming messages, and Autheo told holders not to buy, sell or bridge THEO until it issued an all-clear.  Alephium is the nearer match technically, since a flaw in an off-chain verification step let attackers trigger bridge messages in May, and the team later said it burned 96.4% of the unbacked tokens and shipped independently audited fixes.

Security firm Nominis counted about $776 million stolen across 48 major incidents in September, of which eight involved bridges or interoperability systems and accounted for roughly $11 million. Bridge losses are a small slice of the dollar total in that report, yet unbacked minting appeared often enough among them that Nominis flagged it as a recurring outcome.

What Cysic Must Show Before Reopening
The bridge stays closed until the external security firm, which Cysic has not named, completes its review, and the foundation has promised a follow-up report covering verified losses and fund tracing. Holders will look first at how the attacker reached the database and whether the frozen 2.8 million CYS will be burned, since destroying them would cut the unauthorized supply left on BNB Chain to the 7.2 million that already moved.

The report has also not said whether the bridge enforced any ceiling on the size of a single mint. A 10 million token issuance clearing in one transaction suggests that either no per-transfer cap existed at that level or it sat above it, and rate limits combined with delayed settlement for unusually large transfers are among the controls bridge teams most often add after an incident like this one, at the cost of slower transfers for ordinary users.

Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this?
It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look.
Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened.
His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.

Full Profile

The Depository Trust & Clearing Corporation (DTCC), a leading US post-trade financial services company, will launch commercial access to its Tokenization Service at the end of this month. This initiative enables major financial institutions to create digital representations, or “digital twins,” of traditional securities across a vast $30 trillion asset pool. This figure represents approximately one quarter of all assets currently managed by the DTCC’s central securities depository.

Limited access and first phase rolloutDTCC will restrict the initial phase of the service to selected major private bank networks, excluding public blockchains from participation until at least 2025. The first wave of tokenized liquidity is expected to circulate solely among participating banks and their clients on private blockchains. The Stellar public blockchain network, managed by the Stellar Development Foundation, will not be integrated until next year under the current schedule.

The project follows a closed pilot conducted in July, where more than 30 prominent Wall Street institutions tested the framework. According to a DTCC report issued on October 16, the system’s rollout will start conservatively with only 25 liquid securities. These include US Treasuries, a selection of major exchange-traded funds (ETFs), and large-cap stocks from the Russell 1000 index.

For now, the service is limited to US Treasuries, key ETFs, and top large-cap stocks, with future expansion tied to upcoming network integrations and regulatory readiness.

How the system functionsThe new digital tokens issued through DTCC’s platform maintain a 1:1 linkage with their corresponding underlying securities. Each token retains its CUSIP code and legal rights, while DTCC continues to serve as the central registry holder, providing legal certainty to investors and upholding existing protection mechanisms. From an investor’s perspective, the transition will not alter their rights or the nature of their holdings.

DTCC’s decision to utilize private ledgers comes in response to institutional concerns about risk on public networks. The firm has opted for a closed architecture that relies on only two platforms at launch. These are the Canton Network, using the CIP-56 standard, and DTCC’s own private environment based on Hyperledger Besu, supporting the ERC-20 standard.

Mini dictionary: Hyperledger Besu is an open-source Ethereum client developed under the Hyperledger umbrella, enabling enterprises to set up private or consortium blockchain networks using Ethereum-compatible technology.

Participants can convert traditional securities into tokens via a user interface or API in 15 minutes or less, though tokenization requests are limited to East Coast business hours, from 2:00 to 18:00 ET. Once created, these tokenized assets can be transferred between institutional wallets at any time, regardless of public trading windows.

Next steps and future integrationStellar’s public network remains in the queue for integration. The original plan set the first half of 2027 as the launch window for public blockchain connectivity, with no change to this timeline. DTCC intends to welcome the Stellar Development Foundation and Circle’s Arc solution simultaneously, leveraging Stellar’s SEP-41 standard for asset transfers in future phases.

By the time public network access is enabled, DTCC has pledged to expand the types of securities available on the platform, introduce support for activities such as corporate actions, and facilitate on-chain settlements of collateral using digital cash.

This tokenization initiative is regarded as one of the most significant efforts to link traditional financial assets, at the trillion-dollar scale, with distributed ledger technologies. However, for now, only authorized participants using private networks will have access, while public blockchains and their users, including Stellar, are expected to wait until at least next year before participating.

PlatformAccessLaunch TimingCanton NetworkPrivateOctober 2024Hyperledger BesuPrivateOctober 2024Stellar NetworkPublic2025 (earliest)