Jupiter introduced YOLO at 12:24 UTC on October 15 as a live beta for leveraged $SOL, $BTC, and $ETH price trades. The product interface was live the following day with leverage settings from 500 to 1,000 times and a default payment amount of $10.00.
The product is an unaudited Jupiter Labs experiment. Its structure differs from an order book or a conventional perpetual futures venue because each trader faces a house pool rather than another trader. Trader losses add money to that pool. Winning traders receive profit from the same pool.
How a YOLO position works YOLO supports three markets: $SOL, $BTC, and $ETH. The interface accepts market orders only. It does not offer take-profit or stop-loss orders. A liquidation consumes the collateral assigned to the position.
Leverage starts at 500 times and reaches 1,000 times. Jupiter warns that small price moves at those settings can wipe out the entire position. The collateral placed on a trade therefore defines the amount immediately at risk, while the selected leverage determines the position’s exposure to price movement.
The interface separates collateral from position size. Its stated limits apply to position size, not to the collateral paid by the trader. Long and short capacity are also separate. Available capacity can change before a submitted trade executes. A user who sees room on one side of a market is not guaranteed the same capacity on the other side or at execution.
Pricing has two references. Jupiter displays Pyth prices as indicative data, but says orders execute at the on-chain DOVES price. The displayed Pyth price is therefore not the execution commitment. A trader must use the executed DOVES price when checking the entry or exit recorded for a position.
The fee schedule depends on the result. A winning move of 0.2 basis points or less produces no profit. Larger winning moves receive a profit adjustment, followed by a 2% fee on adjusted profit. Jupiter says losing trades have no trading fee, while wallet network fees still apply.
The house pool controls profit payment The house takes the opposite side of every position. Trader losses fund it, and trader profits are claims on its available funds. That makes pool liquidity part of the settlement path for a winning trade.
Closing a position returns the trader’s remaining collateral immediately in $JupUSD. Profit follows a different path. If the house can cover the profit, it can pay from the pool. If the house cannot cover it, the unpaid amount enters a queue. Earlier winning claims receive payment first when new trader losses replenish the pool.
Jupiter gives no fixed waiting time for queued profit. Its rules state that queued profit may never be paid. A closed position therefore fixes the trading result without guaranteeing that all profit has reached the wallet. The distinction matters when a trader evaluates available funds after closing. Returned collateral and unpaid profit do not have the same liquidity.
Position history also has a short finalization period. Jupiter says closed positions finalize on chain in about 15 seconds. Until finality, the history view labels the close as finalizing. Users checking a recent close need to distinguish this brief on-chain state from the separate profit queue, which has no guaranteed payment time.
What changes for traders and operators For traders, the full stake can disappear after a small adverse move because the available leverage begins at 500 times. There is no stop-loss order to cap that process from within the product. Risk control therefore happens through the collateral committed before execution and through a manual close while the position remains open.
A profitable close creates a second risk to track. The trade can finish in profit while some or all of that profit remains unpaid. Jupiter says queued claims are paid automatically to the wallet as the pool receives funds, but the queue is first in, first out and has no deadline. Traders cannot treat a displayed profit and spendable wallet balance as interchangeable.
For wallet interfaces, portfolio trackers, and accounting systems, a closed position can have three distinct states: collateral returned, close awaiting on-chain finality, and profit queued for payment. Systems that record only open or closed status can miss whether a winning claim is still outstanding. The product’s history label covers finalization, while the house queue determines payment.
Operators also need to account for capacity changing before execution. Long and short limits are separate, and the displayed Pyth price is indicative rather than the fill price. A trade preview can change in both available size and execution price by the time the order reaches the on-chain DOVES system.
The fee rules create another reconciliation step. A small favorable move can close without profit when it is at or below the stated threshold. A larger win is adjusted before the profit fee is charged. The resulting wallet payment can then differ from the raw price move shown on the chart, even before any profit enters the house queue. Network fees remain separate from that calculation.
The queue also separates trading performance from counterparty liquidity. Earlier unpaid wins have priority over later ones, and fresh trader losses replenish the pool used for payment. A later winner may therefore wait behind claims created before that trade closed. The rules promise automatic wallet payment when funds become available, but they do not promise when that replenishment will occur.
The unresolved issue is the durability of the house pool under one-sided winning flow. Jupiter’s rules explain the queue and payment order, but they do not give a maximum delay or a guaranteed backstop. The next observable milestone is whether queued profit appears and how quickly subsequent trader losses replenish the pool.
Tencent Open-Sources Hy Memory 2.0: 10 AI Tools Share Memory, Even Rolled-Back Code Can Be Traced
Beating AI Express News: Tencent Hunyuan has upgraded Hy Memory to version 2.0, open-sourcing its memory framework, dedicated model, and MemHub app all at once. The 1.0 version launched in May this year focused on chat memory, capable of tracking changes to the same matter, identifying and resolving contradictions, and inferring unstated user habits from multiple conversations. When users adjust their preferences, the system retains old records while remembering the latest decisions. Version 2.0 adds working memory and code memory: it tracks task progress, adopted approaches, and final outcomes, and checks if past experiences apply to similar tasks. Code memory goes further, integrating with Git logs to track modification histories of files and functions—even if code is rolled back, it can retrieve prior changes and identify previously tested solutions. The supporting MemHub connects memory across different AI tools, allowing 10 tools including Cursor, Codex, and Claude Code to share a single local memory. With user authorization, MemHub imports historical conversations and continuously syncs new records. For example, if project specifications are set in Cursor and development continues in Codex, the specifications can be directly retrieved without re-explaining. Tencent also trained a dedicated model, Hy-Memory-30B-A3B, with 30 billion total parameters, activating only about 3 billion at a time. It is responsible for filtering, organizing, and updating memory, and can integrate with existing frameworks like Mem0 and MemOS. Tencent tested four memory systems, with an average score of 55.49, slightly higher than Opus 5’s 54.62.
3 minutes ago
Tens of millions of USD in buy orders for HYPE are clustered at the $77 price level, with roughly 70% of these orders being newly added today.
According to TradingBeats monitoring, HYPE is trading at around $80.91. The $77–$78.12 range below the current price currently covers 10 buy orders totaling approximately 190,600 HYPE tokens, valued at around $14.8 million, which is 3.5% to 4.8% lower than the current price. Of this total, about $10.8 million is newly added today, accounting for roughly 73%.
The buy orders are mainly concentrated in four tiers:
- $77.44–$77.51: ~$8 million. Two buy orders of ~$4 million each, with related accounts currently holding no HYPE, belonging to long entry plans after a pullback; one order at $77.51 is newly added today (0x2c6f…).
- $78.12: ~$4.689 million. Two addresses with no current HYPE holdings placed buy orders of ~$3 million and ~$1.689 million respectively, both added early today (0xafe4…, 0x6cb9…).
- $77.149: ~$386,000. Corresponding to additional position-adding plans for existing longs (0x90db…).
- $77.08–$77.717: ~$1.726 million. Two existing short positions arranged for covering; based on current positions, after execution, they will mainly be used to reduce short positions (0x6749…, 0xb0f0…).
Based on current positions, approximately 88% of the buy orders correspond to new long entries or long position additions, while around 12% are for short covering.
3 minutes ago
Ronin Waypoint migration has entered its grace period and will be completely shut down on October 31.
Ronin officials announced that the migration of Ronin Waypoint has entered its final "grace period", running until 23:00 Beijing Time on October 31, 2026. Once the grace period concludes, Ronin Waypoint will be permanently shut down, marking the completion of the migration. Earlier, Ronin required users to transfer assets from their Waypoint wallets to Ronin Stash or mnemonic wallets by October 16, warning that untransferred assets may become inaccessible.
3 minutes ago
Tencent Hunyuan releases Hy Memory 2.0: fully open-sourced across three layers (model, framework, application), ranks first in open-source memory framework evaluations.
Beating AI Express News: Tencent Hunyuan announced the upgrade of its agent memory framework Hy Memory to version 2.0, and open-sourced the dedicated model Hy-Memory-30A3B, the memory framework itself, and the MemHub application. These three capabilities can be used independently or combined to form a complete memory solution.
The framework handles the storage, update, and evolution of three types of memory—chat, work, and code—ranking first among open-source memory frameworks on four benchmarks. The dedicated model scored 55.49 in evaluations across multiple memory systems including Hy Memory, Mem0, and MemOS, surpassing Opus5’s 54.62.
Hy Memory 2.0 upgrades chat memory from fragmented facts to complete event contexts, adds new work and code memory capabilities, and can judge the applicable conditions of experience to accurately assist in long-term tasks. As a local memory management app, MemHub supports CLI and Mac, connects to 10 AI tools including WorkBuddy, Cursor, and Codex, and enables historical memory import and real-time cross-tool synchronization.
This capability has been deployed in Tencent’s business lines including Stock Selector, iWiki, and Tencent News: Stock Selector’s multi-hop recall rate rose from 50% to 90%, with a comprehensive score improvement of 23.8%; iWiki’s answer accuracy when using only memory increased by 48.6% relative to providing all original conversations; Tencent News achieved an average long-term preference score of 91.68 points.
3 minutes ago
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
3 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers.
PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz!
He's made $762K so far.
On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens.
He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers. PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz! He's made $762K so far. On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens. He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers.
PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz!
He's made $762K so far.
On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens.
He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers. PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz! He's made $762K so far. On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens. He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
According to TradingBeats' monitoring, contracts for Micron, SK Hynix, and SanDisk on Hyperliquid have all declined notably from their respective peaks since the late-July rebound. However, their relative strength during that prior rebound phase varied: Micron is currently the most resilient to drops, while SK Hynix has recorded the largest pullback. Micron (MU) has fallen from its October 2 high of $1,114.90 to $923.62, a total pullback of roughly 17.16%—the smallest among the three. SanDisk (SNDK) has dropped from its September 22 high of $1,908 to $1,378.40, a total pullback of around 27.76%, roughly 10.60 percentage points more than Micron. SK Hynix (SKHX) has fallen from its September 10 high of $1,438.40 to $958.73, a total pullback of around 33.35%—the largest among the three, underperforming Micron by approximately 16.19 percentage points. During the earlier rebound period, however, the top performer was SanDisk, which now sits in the middle of the three in terms of pullbacks, while Micron posted the smallest gains. Using the July 31 intraday lows of each asset as the storage sector's trough, SanDisk rallied to a peak of roughly 60.27%, SK Hynix to around 38.73%, and Micron to about 36.14%.
Ripple Prime, Ripple's institutional prime brokerage, has begun offering swaps on more than 100 traditional markets that trade and settle around the clock, including weekends, the company announced on Thursday. The products cover equities, equity indices, ETFs, metals, energy and foreign exchange, and market maker Virtu is already trading them.
Ripple Prime acts as principal on each trade. The swaps reference perpetual futures listed by Trade.xyz on Hyperliquid, the decentralized derivatives exchange, so clients get price exposure to those markets while facing Ripple Prime as their only counterparty. Positions can be cross-margined against the other asset classes Ripple Prime supports, and clients can post Ripple's RLUSD stablecoin as collateral, though its availability varies by jurisdiction.
The offering is available under Ripple Prime's British Virgin Islands license. Ripple said it plans to extend it to other regions but gave no timeline.
"RWA swaps are where traditional and digital markets meet," said Michael Higgins, international CEO of Ripple Prime. Scotte Moegling, head of business development for digital assets at Virtu, said Ripple Prime's "24/7 cross-margining across asset classes helps us expand our presence more efficiently."
The launch gives traditional trading firms a regulated, intermediated route into one of the fastest-growing parts of onchain derivatives. Perpetual futures on stocks, commodities and currencies were a niche product a year ago, and open interest in these contracts across the major platforms has grown to about $9 billion, Bloomberg reported. Hyperliquid opened the door to these markets with its HIP-3 framework, which lets third parties such as Trade.xyz deploy their own perpetual markets on the exchange.
The structure also reflects the constraints institutions face. Many funds cannot connect directly to a permissionless exchange, post collateral in self-custodied wallets or take on the counterparty risk of an onchain venue. A prime broker that sits in the middle and takes the onchain exposure onto its own book removes those obstacles, while letting clients trade when U.S. and European exchanges are closed.
Ripple Prime is the former Hidden Road, which Ripple bought for $1.25 billion in 2025, and it has steadily added onchain markets to its platform. Ripple Prime had already added support for Hyperliquid before this launch and began offering crypto perpetual futures in February.
The main risk for clients is that pricing on the reference markets depends on liquidity on Hyperliquid, which can thin out on weekends when the underlying exchanges are shut and there is no official price to anchor to. How Ripple Prime manages that basis risk will be a large factor in how much institutional volume moves onto the product.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers.
PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz!
He's made $762K so far.
On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens.
He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers.
PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz!
He's made $762K so far.
On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens.
He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers.
PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz!
He's made $762K so far.
On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens.
He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
OKX Global Managing Partner and Chief Marketing Officer Haider Rafique Officially Announces Resignation
OKX’s global managing partner and chief marketing officer Haider Rafique announced in a post that he will step down from his role and take a temporary break to focus on family and personal matters after nearly seven years at the crypto exchange. Insiders revealed Rafique plans to depart by the end of 2026. He joined OKX in March 2020, led the platform’s brand upgrade, and was involved in facilitating Intercontinental Exchange’s (ICE) $200 million strategic investment in OKX earlier this March.
5 minutes ago
A trader staked 252 million PAPER tokens and earned $1.73 million in USDC rewards.
According to Lookonchain monitoring, an address generated $10.1 billion in trading volume on the launch day of perpetual contract trading platform Papertrade, posting a $979,000 loss and receiving 252 million PAPER tokens. The address subsequently halted trading, staked the 252 million PAPER tokens to earn $1.73 million worth of USDC rewards, and has now netted a $762,000 profit.
5 minutes ago
PrismML compresses 9-billion-parameter model weights to 2GB: iPhones generate 34 tokens per second locally.
Beating AI Express (Insight) – U.S. AI firm PrismML has rolled out three new models for its Bonsai 2 family: 2B, 4B, and 9B, all based on Alibaba’s Qwen3.5. The team restricted the language model’s core weights to only three values: -1, 0, and +1, cutting the model sizes to 0.43GB, 0.95GB, and 2GB respectively – roughly one-ninth the size of original 16-bit weight models. The new models retain support for inference, image understanding, and tool calling, and are primarily designed for local agents on devices like smartphones and personal computers. PrismML states that on the iPhone 18 Pro Max, the 9B model generates up to 34 tokens per second, while the 2B model hits 120 tokens per second. Official tests show the 9B model’s programming and instruction-following capabilities are nearly on par with the same-scale original Qwen3.5, though it lags significantly on complex tasks. In Tau2Bench, which assesses multi-turn dialogue and tool operations, Bonsai 2 9B scores 73.02, compared to the original model’s 85.25; its complex document parsing score is 73.8, versus 88.73 for the original. All three models have released their weights under the Apache 2.0 license.
5 minutes ago
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz! He's made $762K so far. On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens. He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
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.
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.
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz! He's made $762K so far. On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens. He then stopped trading and has since claimed $1.73M in
5 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
5 minutes ago
BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
5 minutes ago
Data: Papertrade’s loss mining period lasted less than 6 days, with the top three addresses by trading volume each exceeding $10 billion.
According to EmberCN’s monitoring, since the Papertrade platform on the Hyperliquid chain launched loss mining on the 10th, the three addresses with the highest trading volumes have all surpassed $10 billion each in less than six days. The top address posted a trading volume of $11.6 billion, with trading losses of $780,000, earning 46 million PAPER tokens at an acquisition cost of $0.017 per token. The second address recorded $10.3 billion in trading volume, $930,000 in trading losses, and received 85 million PAPER tokens at an acquisition cost of $0.011 per token. The third address saw $10.1 billion in trading volume, $980,000 in trading losses, and obtained 252 million PAPER tokens at an acquisition cost of $0.0039 per token. The acquisition cost excludes PAPER token dividends; factoring in dividends would lower the cost further, with the third address potentially even holding a negative cost.
5 minutes ago
Bonk Guy's Portfolio Surges $1M+ in 24H, Maintains #FOMO Leaderboard Lead
As the market rebounds, Bonk Guy(@theunipcs)'s portfolio has grown by $1M+ in the past 24 hours. He remains No. 1 on both #FOMO's 24H and All-Time leaderboards.
5 minutes ago
Hong Kong Exchanges and Clearing (HKEX) aims to transition to T+1 settlement in the second half of 2028.
Hong Kong Exchanges and Clearing (HKEX) has published a consultation summary document on shortening the settlement cycle of Hong Kong’s spot stock market, which shows widespread market support for implementing a T+1 settlement cycle in Hong Kong’s securities market. Based on feedback from various stakeholders, HKEX plans to complete the relevant transition in the second half of 2028, provided the market is ready and regulatory approval is obtained. The consultation received a total of 109 non-duplicate responses from market stakeholders including brokers, custodians, investment managers, industry associations, technology vendors, and investors. Respondents supported Hong Kong’s adoption of a T+1 settlement cycle, agreeing that this move will help enhance market efficiency, reduce settlement risks, improve capital efficiency, and consolidate Hong Kong’s competitiveness as an international financial center.
Bitcoin traded near $83,000 on October 16, recovering from a brief slide below $80,000 the previous day, after a hotter-than-expected September producer price index report rattled risk assets. The rebound came as U.S. Treasury yields eased, the dollar weakened, and futures-implied odds of another Federal Reserve rate hike fell, helping the market claw back most of its inflation-driven losses.
According to CoinGecko, Bitcoin changed hands around $83,300 on the morning of October 16, up roughly 0.3% over 24 hours and about 2.9% below its level a week earlier. Its 24-hour range spanned roughly $82,900 to $84,200. Even with the recovery, the asset remains roughly 34% below its all-time high of about $126,000, reached in October 2025.
Why Bitcoin Dipped Below $80,000
The slide began with the U.S. Labor Department’s September producer price data, released October 15. The producer price index rose 1.3% month over month, well above forecasts, with final demand goods up 2.6% and services up 0.8%. The year-over-year figure climbed to 6.3%. The report landed one day after September’s consumer price index showed headline inflation of 3.7% year over year.
Together, the two releases briefly pushed Bitcoin below the $80,000 mark for the first time since mid-September, as traders weighed the risk that the Federal Reserve could extend its tightening cycle. The CPI print had already dragged Bitcoin below $82,000 on October 14.
What Drove the Recovery
Despite the hot inflation data, the macro backdrop shifted in Bitcoin’s favor. The 10-year Treasury yield fell to about 5.10%, its lowest level in three weeks, as investors moved into U.S. government debt. The dollar index also eased, and market pricing for a Fed hike at the late-October policy meeting dropped from above 50% to roughly 27-32%, according to CME FedWatch data cited in market reports.
Those moves matter because Bitcoin has increasingly traded like a liquidity-sensitive asset. Falling yields and a softer dollar reduce the opportunity cost of holding a non-yielding asset, and a lower probability of another rate increase eases the pressure that had weighed on risk assets through the first half of October. The PPI-triggered drop had left traders asking whether $80,000 would hold; the recovery suggests the level found buyers, though the rebound has not yet been confirmed by a sustained return of spot ETF inflows.
Bitcoin’s reaction to the data also illustrates how the market now reads inflation through the lens of Federal Reserve policy. When a hot print raises the odds of another hike, yields climb and risk assets sell off; when officials signal caution or the data is absorbed, the trade reverses. The October sequence, a sharp PPI-driven selloff followed by a yield-driven bounce, fit that pattern, with the rebound arriving even as the inflation backdrop itself remained hot.
What Happens Next
U.S. spot Bitcoin ETFs posted a modest $5.1 million net inflow on October 15 after larger outflows in prior sessions, according to Farside Investors data. Whether that turns into a sustained trend is the next test. The Federal Reserve’s policy decision at the end of October will be watched closely: whether officials signal another hike or hold rates is likely to set the near-term direction for both Treasury yields and Bitcoin.
The immediate levels to watch are the $82,500-$83,000 zone that Bitcoin reclaimed on October 16 and the $84,000 area that capped earlier rallies this week. A close below $80,000 would invalidate the recovery case, while a move back above $84,000 would suggest the inflation scare has been absorbed.
Frequently Asked Questions
Why is Bitcoin up today?
Bitcoin recovered to near $83,000 after briefly falling below $80,000, as Treasury yields eased, the dollar weakened, and the market lowered the odds of another Federal Reserve rate hike.
Why did Bitcoin drop below $80,000?
The U.S. producer price index rose 1.3% in September, well above forecasts, which briefly pushed Bitcoin below $80,000 on October 15 after it had already slid on a hotter consumer price report.
What is Bitcoin’s price today?
Bitcoin traded around $83,300 on the morning of October 16, up roughly 0.3% over 24 hours and about 2.9% lower over the past week, according to CoinGecko.
When is the next Fed rate decision?
The Federal Reserve’s next policy decision is due at the end of October 2026. Market pricing in mid-October implied roughly a 27-32% chance of another rate increase.
AUTHOR
Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.
September was the month crypto took three hits that were supposed to break it and kept climbing anyway. A Federal Reserve rate hike, a failed Senate vote on the CLARITY Act, and the worst month for hacks of 2026 all landed within weeks of each other, yet Bitcoin finished the month up more than 6% after printing an eight month high above $87,000 on September 21. Behind the price action, Zoomex used the month to open its biggest trading championship yet with a record prize pool of up to 5 million USDT, push its TradFi Stock Perpetuals past 50 contracts and add six ETF perpetuals, widen its Prediction Markets, and mark a double points finish for the TGR Haas F1 Team in Baku, proof that Easy to Use and Transparent by Design hold up when the headlines turn ugly just as well as when they turn euphoric.
Zoomex by the NumbersNone of that changed what Zoomex actually is: a platform focused on Derivatives, running sub-10ms execution on a dual liquidity pool architecture that blends internal depth with aggregated external liquidity, wrapped in a minimalist interface built to hold up whichever direction volatility breaks. The platform continues to serve over 3 million registered users across 35-plus regions, with 700-plus trading pairs spanning Perpetual USDT, Inverse Perpetuals, Spot, tokenized equities, and Predict Market contracts, and a Stock Contracts offering that now spans more than 200 global stocks, indices, and ETFs.
September’s stress test was different from August’s whipsaw, a rate hike, a regulatory defeat, and a nearly $770 million hack total compressed into a single month, with the hacks concentrated in custody and credential infrastructure rather than smart contract bugs. The regulatory registrations listed in Zoomex’s September disclosures — Canada MSB, US MSB, US NFA, and Australia AUSTRAC, remained the same, and the platform’s Hacken audits and Proof of Reserves framework continued to do what they are designed to do: let users verify balances and reserves for themselves rather than take a platform’s word for it.
What We Shipped in SeptemberStock Perpetuals Pass 50 ContractsSeptember opened with Zoomex confirming that its Stock Perpetuals lineup had grown past 50 contracts, one of the largest product expansions in the exchange’s history, and a week later the platform detailed the expansion across four new categories of global equities, all margined and settled in USDT and trading around the clock rather than closing with Wall Street.
On September 10 it spotlighted TSLA and NVDA as flagship names, and on September 17 it added six ETF perpetuals, SPYUSDT, QQQUSDT, IWMUSDT, XLFUSDT, XLKUSDT, and TQQQUSDT, giving traders round-the-clock exposure to broad market, tech, financial and small-cap benchmarks. The timing fit the moment: the ETF launch arrived in the very week the Fed announced its first hike in three years, when Nasdaq-linked products like QQQ and TQQQ sat at the center of the rate debate.
Zero-Fee TradFi ReturnsHaving run a first Zero-Fee TradFi event from August 28 to September 4, Zoomex relaunched the campaign for a full month, running from September 11 to October 11.
The event rebates 100% of actual trading fees on eligible TradFi products, capped at 100 USDT per account, across Stock Contracts, Commodity Contracts on gold, silver and crude oil, and Stock Tokens, removing the cost of simply placing a trade for anyone wanting to test the platform’s TradFi offering.
ZWTC 2026: The Biggest Championship YetOn September 10, Zoomex launched the Zoomex World Trading Championship 2026, returning for its third year with a prize pool of up to 5 million USDT, the largest in the competition’s history.
The format expands across crypto perpetuals, stock contracts, AI-powered trading, a team competition with up to 2.5 million USDT in prizes, a solo battle, and a Rewards Zone with up to 1.5 million USDT.
The Squad Competition opened on September 21, ranking teams on three separate boards for profit rate, trading volume, and community popularity, and runs through October 11, a structure designed to reward teams for performance and participation, not just for the biggest account on the leaderboard.
Copy Trading Hub Under the SpotlightAlongside the championship launch, Zoomex put its futures focused Copy Trading Hub in the spotlight, built around one click execution, published trader performance data and rule based profit sharing.
Return on investment and cumulative profit and loss are charted over selectable windows of 7, 30 and 90 days, so users can judge a trader across timeframes instead of relying on a single flattering snapshot, which is Transparent by Design in practice.
On September 13, Zoomex’s X article on the hub put the pitch in plain terms: ROI, win rate and AUM visible on every trader profile, profit share shown up front, orders with IDs instead of screenshots, and the same rules for every copier. On September 16 the platform added a first week Copy Trading loss compensation campaign, offering up to 50 USDT in Copy Trading Bonus for eligible first week net realized losses through October 13.
Prediction Markets Go LongOn September 18, Zoomex expanded the Long-Term category of its Prediction Markets, which now accounts for 49 of the platform’s 70 live markets, alongside 5-minute, 15-minute, and 4-hour contracts.
The long horizon slate asks the questions the industry argues about all year, including whether HYPE will flip SOL by year end, whether China will unban Bitcoin by 2027, whether Bitcoin, gold or the S&P 500 will win 2026, and whether MicroStrategy will announce bankruptcy before 2027, each with a live probability gauge, a running volume figure and settlement against published resolution criteria rather than discretionary calls. The same month’s shortest markets showed the other end of the spectrum, with Bitcoin’s 5-minute Up or Down contract the most active market on the board at roughly $11 million in volume.
Individual KYC Explained: Optional to Trade, Clear on LimitsOn September 14, Zoomex published a plain-language guide to individual KYC, leading with the point most traders ask about first, verification is optional to trade. It only becomes necessary when withdrawals exceed 100 BTC a day, with Lv.0 accounts capped at 100 BTC daily and Lv.1 verification lifting the limit to 200 BTC.
The guide also sets expectations for the process itself, with reviews taking three to five days, up to two submission attempts per 24 hours, and a short checklist for getting approved the first time: clear photos, no edits, and name and date of birth visible. Publishing the thresholds, timelines and failure points in advance is the kind of Fair Access & Rule-Based Execution detail that rarely gets spelled out this openly.
The Trading Floor Keeps RollingThe Zoomex Live Hub AMA series that began in August carried on through September. Episode 3, announced on September 2, asked whether Bitcoin was at the bottom and, if not, what the market was waiting for, with ClaudiusVertesi, MetzyTrades and RealCryptoCrank on the panel and a 500 USDT audience prize pool paid out in 10 USDT shares.
Episode 5, hosted on September 24, turned to what comes next for traders, “The Next Trader: Social. Onchain. AI-powered.”, covering FOMO-driven social feeds, onchain perpetuals and AI agents that can route orders, with MindPillarTrade, Cryptic_Web3 and TTFBot joining and a 300 USDT audience pool, again at 10 USDT each. The topics tracked the month’s conversation, from the post-hike market mood to the AI and copy trading tools Zoomex was building into the platform.
September Rewards and the SOL Airdrop CarnivalFor newcomers, Zoomex ran two onboarding campaigns side by side. September Rewards, live from September 1 to October 14, offers up to 2,000 USD in total rewards, unlocked step by step as users complete tasks from their first deposit through Contracts, Spot, TradFi, Predictions and Copy Trading, effectively a guided tour of the whole platform.
On September 9, the SOL Airdrop Carnival added a second track: new users can earn up to 30 SOL by completing tasks, while traders who reach 100,000 USDT or more in futures volume share a larger pool, for a total prize pool of up to 15,000 SOL.
Community & Culture: Points in Baku and a Date in SingaporeSeptember’s community calendar mixed on track results with off track events. The 10 ETH airdrop that began on August 28 ran through September 28, splitting 3 ETH among new users who met the deposit and volume requirements and 7 ETH among eligible futures traders.
On the track, the TGR Haas F1 Team ended a difficult run of Grands Prix with its first double points finish of the 2026 season at the Azerbaijan Grand Prix on September 26, with Esteban Ocon eighth and Ollie Bearman ninth after both drivers avoided the pile-up at the first safety car restart, lifting Haas to seventh in the Constructors’ Championship on 27 points. Zoomex marked the result and its renewed role as the team’s Official Crypto Exchange Partner, drawing the parallel between precise teamwork under pressure and the reliability it aims to deliver in trading.
Looking ahead, Zoomex also confirmed its Traders After Party as an official side event of TOKEN2049 Singapore, taking place on October 7 at Echo Live Party, with a flagship panel titled “Where’s the Edge? Trading Crypto and Beyond” covering derivatives, TradFi and prediction markets, an exclusive community Q&A with Ollie Bearman, live music and a MacBook Air among the grand prizes.
ConclusionSeptember asked Zoomex’s infrastructure a different question than August did. Not whether it could hold up through a whipsaw, but whether it could keep building through a month in which a rate hike, a regulatory defeat and the worst hack total of the year arrived almost back to back, and in which the largest losses came from credentials, wallet infrastructure and third party tooling rather than from anything a code audit would catch. Zoomex’s answer was to keep shipping: a Stock Perpetuals lineup past 50 contracts and six new ETF perpetuals timed to the week of the Fed decision, a month long Zero-Fee TradFi campaign, a record championship, a Copy Trading Hub that shows its performance windows instead of hiding them, and Prediction Markets that now lean toward the long horizon questions traders actually argue about.
No platform token. No VC entanglements. No user funds at risk.
August confirmed that reliability compounds when markets reverse without warning. September confirmed the harder version of that lesson: it compounds just as much when the threat is not volatility but trust, and the platforms that publish how they work, let users verify their reserves and keep building through the noise are the ones positioned for October’s calendar, from the Fed’s next meeting to the TOKEN2049 stage and the final stretch of ZWTC 2026, not just for the next leg of the rally.
July confirmed that reliability compounds when markets don’t cooperate. August confirmed the harder version of that lesson: it compounds just as much when markets reverse without warning, and the platforms still building through both are the ones positioning for September’s regulatory calendar, not just the next leg of the rally.
About ZoomexFounded in 2021, Zoomex is a global cryptocurrency trading platform focused on derivatives trading. The platform serves over 3 million users across 35+ countries and regions, offering access to 700+ trading pairs. Built around easy to use, transparency, fairness, and speed, Zoomex provides a clear and efficient trading experience for users worldwide.
Through its high-performance matching engine, clear asset and order displays, and transparent fee and rule mechanisms, Zoomex helps users better understand their account status, order execution, trading costs, and results. Zoomex maintains registrations, licenses, and regulatory statuses across multiple jurisdictions, including the U.S. MSB, Canada MSB, U.S. NFA, and Australia AUSTRAC, and has completed security audits conducted by blockchain security firm Hacken. The platform also continues to strengthen its trust framework through Proof of Reserves, Security & Transparency, Compliance Information, and Fees / Rules Transparency initiatives.
Beyond trading, Zoomex builds a refined brand experience through elite sports partnerships, including the TGR Haas F1 Team, World Cup-winning goalkeeper Emiliano Martínez, and world-class tennis events such as Wimbledon. The values of speed, precision, discipline, fair play, and rule-based execution are closely aligned with Zoomex’s approach to derivatives trading.
At Zoomex: Easy to Use. Transparent balance. Fair access to your earnings.
Frequently Asked Questions What is Zoomex? Zoomex is a global crypto derivatives platform founded in 2021, serving over 3 million users across more than 35 countries and regions with 700+ trading pairs. How does Zoomex work? Zoomex operates through a high-performance matching engine with transparent asset and order displays, allowing users to execute trades and track outcomes with full visibility into their balances and results. What can you trade on Zoomex? Zoomex offers 700+ trading pairs spanning cryptocurrencies such as BTC, ETH, and SOL, as well as stock-linked contracts like NVDA and AAPL and gold exposure through XAUT. Where is Zoomex headquartered? Zoomex operates as a global cryptocurrency exchange with regulatory registrations including Canada MSB, US MSB, US NFA, and Australia AUSTRAC, reflecting its multi-jurisdictional compliance approach. Is Zoomex available in my country? Zoomex serves users across more than 35 countries and regions. Availability can vary by local regulation, so traders should check the official Zoomex website for country-specific access and requirements. Disclaimer
This third-party press release is published substantially as received and does not reflect BeInCrypto's editorial views. BeInCrypto has not independently verified its claims or assessed the suitability, legality or appropriateness of any referenced asset, product or service; publication is not an endorsement. The content is general information, not investment research, financial, investment, legal or tax advice, a personal recommendation, offer or solicitation. Verify all information and seek professional advice where appropriate before acting. Crypto-assets may result in total loss.
Strive Inc. just pulled off one of the more notable capital raises in the Bitcoin treasury space. The company priced its 15.00% Series A Perpetual SATS Preferred Stock offering on October 15, 2026, after upsizing the deal from an initial 5 million shares to 7 million shares at $90 each, generating approximately $630 million in gross proceeds. At the $100 par value, the notional stated value of the offering clocks in at around $700 million.
Settlement is expected on October 20, 2026, subject to customary closing conditions.
How the deal is structured
The SATS preferred stock carries a fixed 15% cumulative annual dividend on its $100 stated amount, paid daily when declared, with payments set to begin November 9, 2026. At the $90 IPO price, that translates to an effective yield of roughly 16.7%.
Barclays and Cantor Fitzgerald served as joint book-running managers.
Proceeds are earmarked for general corporate purposes, with Bitcoin acquisition and related products as the primary targets.
This is Strive’s second preferred equity offering. Its first, the SATA offering, originally closed in November 2025. Strive has kept its balance sheet free of traditional debt obligations since May 2026.
Strive’s Bitcoin position is growing fast
As of mid-October 2026, Strive holds approximately 35,595 BTC. At the end of 2025, that figure sat somewhere between 7,500 and 7,600 BTC.
The absence of debt since May 2026 means all of those Bitcoin holdings are unpledged. Pledged assets can be subject to margin calls or forced liquidation during sharp price drawdowns.
Strive has structured its dividend reserves to cover up to 18 months of payouts.
Chairman and CEO Matt Cole has positioned Strive’s strategy as a disciplined, long-term approach to Bitcoin accumulation. Where Strategy, formerly MicroStrategy, built its Bitcoin position partly through convertible notes and other debt instruments, Strive is financing its treasury accumulation program through preferred equity.
What this raise signals for the market
The upsizing of the deal from 5 million to 7 million shares — a 40% increase in size — suggests the book was well oversubscribed.
For income-focused investors, a 16.7% effective yield on a preferred stock backed by Bitcoin exposure is a genuinely unusual combination. Preferred shareholders get their dividend priority over common equity holders, but the company’s ability to sustain those dividends depends on its broader financial health and, indirectly, on Bitcoin’s trajectory.
Strive trades on Nasdaq under the ticker ASST. With approximately 35,595 BTC on its books and a freshly closed $630 million raise to add more, the company is now positioned as one of the more significant Bitcoin accumulators in the public markets.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Capital B has reported a €69.5 million ($78 million) net loss for the first half of 2026, largely driven by a €67.5 million ($75.8 million) Bitcoin impairment charge, even as the French company’s cryptocurrency holdings increased 11.2% during the period.
Summary
Capital B reported a €69.5 million first-half net loss, mainly driven by Bitcoin impairment charges. The company’s €67.5 million Bitcoin impairment was noncash and reflected prices recorded on June 30. Capital B increased its strategic Bitcoin holdings from 2,823 BTC in January to 3,139 by June. First-half revenue increased 3.5% to €5.85 million, while group adjusted EBITDA remained in negative territory. By September 30, Capital B held 3,538 Bitcoin acquired at an average cost of €87,805. Capital B confirmed in its October 15 financial report that the charge reflected Bitcoin’s valuation as of June 30 and did not involve a cash payment. The Paris-listed company reported a net loss of €1.9 million during the corresponding period in 2025.
Despite the accounting loss, consolidated revenue increased 3.5% from €5.65 million to €5.85 million ($6.5 million). Capital B continued raising funds for Bitcoin purchases, bringing its strategic holdings to 3,139 BTC by June and 3,538 BTC by the end of September.
The results cover the six months ended June 30, while the company’s treasury update includes transactions completed after the reporting period.
Capital B’s $78M loss comes largely from Bitcoin impairment The first-half results were dominated by a €67.5 million impairment charge associated with the company’s Bitcoin holdings. Capital B recognized the charge after assessing the cryptocurrency’s value at the June 30 reporting date.
An impairment charge reduces the recorded value of an asset in a company’s financial statements when accounting rules require it. Capital B explained that the Bitcoin adjustment did not involve selling its holdings or making an equivalent cash payment.
The company’s financial result fell to a loss of €67.5 million, compared with approximately €66,000 during the first half of 2025. Consolidated net income subsequently declined to negative €69.5 million from negative €1.86 million a year earlier.
Operating figures presented a different picture. Capital B reported an adjusted EBITDA loss of €1.07 million, compared with a loss of €815,000 during the corresponding six months in 2025.
EBITDA measures earnings before interest, taxes, depreciation, and amortization. Capital B uses an adjusted measure that incorporates certain accounting items, including France’s research tax credit.
According to the filing, approximately €2.2 million of costs were connected to its Bitcoin treasury operations. Expenses included salaries, financial advisory services, and other activities associated with maintaining and financing the cryptocurrency strategy.
Meanwhile, the company’s established technology businesses reported positive adjusted operating EBITDA of approximately €640,000. The figure represented a 9.8% increase from €580,000 in the comparable period.
Its operating subsidiaries provide data intelligence, artificial intelligence, and technology consulting services. Capital B said the group incurred €3.3 million in purchases and other operating expenses, an increase of 9.9% from the previous year.
Capital B expands Bitcoin treasury to 3,538 BTC Alongside its financial results, Capital B provided updated figures showing continued Bitcoin purchases throughout 2026.
The company’s strategic reserve increased from 2,823 BTC in January to 3,139 BTC by June 30, representing growth of 11.2%. Subsequent acquisitions brought the reserve to 3,538 BTC by September 30, an increase of 25.3% from the beginning of the year.
Capital B reported a total acquisition cost of €310.6 million for the September holdings, equivalent to an average purchase price of €87,805 per Bitcoin. The figure represents the company’s historical acquisition cost, not the cryptocurrency’s current market value.
In its October 15 financial disclosure, the company stated that the strategic reserve remained at 3,538 BTC. It separately held another 61 BTC designated for operational requirements.
The additional 61 BTC are excluded from the company’s reported strategic treasury performance indicators. Including those separately designated assets, Capital B controlled 3,599 BTC as of the announcement date.
Earlier in September, the company completed additional Bitcoin purchases following new fundraising transactions. Its €25.3 million Bitcoin acquisition program followed private placements involving institutional investors and shareholders.
Capital B measures treasury progress partly through a metric called BTC Yield, which tracks changes in Bitcoin holdings per fully diluted share. The company reported a 1.85% BTC Yield for the first half and 2.2% through September.
Its financial report cautions that BTC Yield is not equivalent to a conventional investment yield. The indicator does not measure operating profit, cash generation, or the investment return earned by shareholders.
Capital B raises funds to continue Bitcoin purchases During the first half, Capital B announced financing transactions totaling €27.5 million, or roughly $30 million. The amount included equity placements, share warrants, and financing packages combining shares with warrants.
According to its financial report, approximately €15.2 million came from share-and-warrant transactions, while warrant exercises generated another €8.8 million. Equity financing programs contributed approximately €3.5 million.
The company used its financing strategy to support Bitcoin purchases and increase the amount of cryptocurrency held per fully diluted share.
Among its institutional investors is Blockstream co-founder Adam Back, who participated in earlier funding rounds. A September transaction involving Back raised €7.6 million and expanded his investment in the company.
As detailed in the Capital B financing agreement involving Adam Back, the placement included shares and warrants that could provide further funding if exercised.
Capital B’s latest report showed fundraising activity continued after June. From the start of the second half through October 15, the company announced approximately €31.7 million in additional capital raises.
Most of the second-half funding came from transactions combining equity with warrants, accounting for €28.7 million. Another €3 million was raised through equity financing arrangements.
The company had previously secured shareholder authorization for substantial financing capacity. At its June meeting, investors approved up to €5 billion in capital increases and €100 billion in credit instruments.
The shareholder-approved Bitcoin financing framework provides authority for potential future transactions. The approved limits do not represent funds already raised or debt already issued.
Capital B completes stock split and updates cash position Capital B’s financial report confirmed that its 10-for-1 reverse stock split became effective on September 8, following approval by the board on July 17.
The transaction combined every ten existing shares into one new share, reducing the number of shares outstanding without changing investors’ proportional ownership solely through the consolidation.
Following the adjustment, each share’s nominal value increased to €0.80. Capital B adopted a new International Securities Identification Number, FR0014019Y19, and adjusted the terms of outstanding warrants and convertible instruments.
The company previously described the restructuring as part of its efforts to attract institutional investors. Its shares continue trading on Euronext Growth Paris under the ticker ALCPB, with CPTLF used for its U.S. trading quotation.
Separately, Capital B reported improvements in its available cash after the first-half reporting date. At June 30, the group held €2.3 million in cash and 61 BTC designated for operating requirements.
By September 30, available cash had increased to €4.6 million. The company valued its separately designated 61 BTC at approximately €4.5 million, bringing combined cash and operational Bitcoin resources to €9.1 million.
The group’s total assets stood at €317.1 million at the end of June, compared with €297.2 million at the end of 2025. Shareholders’ equity declined to €86.8 million from €109.4 million, while provisions increased to €124 million.
Capital B said its half-year financial statements had undergone a limited review by statutory auditors and were prepared on a going-concern basis. Based on its internal forecasts, the company stated that available liquidity was consistent with its expected funding requirements for the following 12 months.
On August 17, Blockstream Capital Partners completed the conversion of its remaining 14.2 million OCA B-01 convertible instruments into approximately 28.7 million ordinary shares before the reverse stock split. The conversion was among the post-June transactions included in the company’s October 15 financial disclosure.
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz! He's made $762K so far. On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens. He then stopped trading and has since claimed $1.73M in
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Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
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Bitcoin (BTC) price briefly dropped below $80,000 on October 15 after US PPI inflation came in hot at 6.3%. The rising inflation has now triggered hawkish remarks from Fed officials as the odds of one more Fed rate hike in 2026 soar.
Bitcoin Briefly Drops Below $80K as Hammack Warns of Hawkish Policy Cleveland Fed President Beth Hammack has warned that surging inflation could force the Federal Reserve to take a more aggressive monetary policy action.
While speaking in New York during a Goldman Sachs event, Hammack noted that it might become harder for the Fed to control the persistent price pressures if businesses and consumers expect inflation to remain high.
Hammock’s remarks come after the US PPI inflation rose by 6.3% in September 2026, which increased the odds of the Fed hiking interest rates during the December 2026 Federal Open Market Committee (FOMC) meeting and pushed Bitcoin price below $80K for the first time since September 18.
Chicago Fed President Austan Goolsbee has also noted that this week’s inflation data was “discouraging”, adding that the pressures will only ease if the drivers of inflation, including geopolitical tensions and tariffs, go away.
Whale Wallets Accumulate as Retail Traders Panic Data from Santiment shows that Bitcoin’s key stakeholder wallets holding between 10 and 10,000 BTC are rising. These wallets have reached an all-time high of 20,338 following a sharp rise since mid-July.
Per Santiment, this data suggests that large investors remain confident despite the recent surge in volatility, and the accumulation could create a healthy setup for a future upside.
Source: Santiment However, while whales are buying, futures and retail traders are selling. The Binance funding rate signal on CryptoQuant has turned negative suggesting that traders are positioned short as they bet on a bearish future Bitcoin outlook.
CoinGlass data shows that Bitcoin exchange reserves have increased from 2.43 million on October 8 to 2.45 million on October 16, suggesting that some traders are moving their coins to exchanges for selling.
Bitcoin Price Defends Crucial $80K Support Level Bitcoin price has surged with an intraday gain of 2.8% at press time, marking a notable recovery from the drop below $80,000 on October 15.
However, the swift recovery left uncollected liquidity at $79,800. BTC value might be pulled lower to collect liquidity at this low before a strong recovery occurs.
The RSI reading of 47 supports this bearish Bitcoin outlook and suggests that, despite the move to $82,000, the momentum remains weak.
Source: TradingView On the upside, Bitcoin price faces resistance at the midline of an FVG gap at $82,580. Closing above this midline could confirm a strong move to the upside and may kickstart the next bullish leg to the PoC line at $83,885.
Bitcoin rose back above $82,000 as the weaker dollar and recovering risk sentiment helped support crypto assets. The cryptocurrency rose 0.25% to $82,205 after falling as low as $79,770 on Thursday, when a sharp flight from artificial-intelligence stocks prompted a broader pullback from risk assets including crypto. Ether also recovered Friday, rising 0.3% to $2,457.
Bitcoin's move in tandem with AI stocks demonstrates crypto's vulnerability to broader financial market uncertainty, " particularly when investors reduce exposure to highly volatile assets," said Naeem Aslam, chief investment officer at Zaye Capital Markets. Flows recovered later Thursday as investors moved to buy the dip.
Bitcoin exchange-traded funds ended the session with net inflows of $5.1 million, according to crypto data platform CoinGlass. Flows were concentrated in BlackRock's bitcoin ETF, which drew $205.78 million, offsetting a pullback in other funds. Crypto assets were helped by dimming expectations for a near-term Federal Reserve rate hike.
Fed Chairman Kevin Warsh avoided sounding a clearly hawkish or dovish tone during a moderated conversation in Bangkok. Looking ahead, "bitcoin's immediate outlook depends on whether declining Treasury yields and renewed institutional inflows can offset inflation-driven monetary tightening concerns," Zaye Capital Markets' Aslam said.
Write to Joe Stonor at [email protected] (END) Dow Jones Newswires 10-16-26 0505ET Copyright (c) 2026 Dow Jones & Company, Inc.
Bitcoin is attempting to break through an “inflection frontier” that has historically triggered runs to new macro highs.
Key points:
Bitcoin (BTC) may continue to new all-time highs if it successfully breaks through its 20-month moving average at $87,165, CryptoQuant reported.The market cycle signals metric showed BTC/USD poised to reclaim this “inflection frontier,” which it lost in December 2025. CryptoQuant’s bull-bear market cycle indicator continued to show Bitcoin as being in a bull market.
Analysis: Bitcoin “reset” complete as key trend line reappearsData from onchain analytics platform CryptoQuant reveals that BTC/USD has begun a fresh battle with its 20-month simple moving average (SMA).
The 20-month SMA, at $87,165 as of Oct. 16, is the trend line around which the popular Bollinger Bands metric is constructed. This in turn forms the basis for CryptoQuant’s market cycle signals tool, which seeks to pinpoint Bitcoin’s position within its market cycle.
Bollinger Bands uses standard deviation to add an upper and lower band around the 20-month SMA. Currently, these sit at $121,640 and $52,694, respectively. CryptoQuant’s indicator describes the zone between the lower band and SMA as an “accumulation base,” while the SMA itself is referred to as an “inflection frontier,” a previous point of investor capitulation as price broke below it from above, most recently in December 2025.
BTC/USD one-month chart with Bollinger Bands. Source: Cointelegraph/TradingView
With Bitcoin now preparing to challenge the capitulation zone from below, history shows that successful breakouts have led to new cycle highs.
“Just over a year after the all-time high (ATH) of $124,709 on October 6, 2025, the market has concluded its ‘reset,’” CryptoQuant contributor GugaOnChain summarized in a blog post.
While Bollinger Bands are not intended to offer buy and sell signals, market cycle signals sees “smart money” taking profit once BTC/USD reaches its upper band. While this currently sits just below Bitcoin’s most recent all-time high of $126,200 from October 2025, CryptoQuant sees the next rally continuing beyond that level.
“While retail fears the current $82,442, thinking it’s the ‘top,’ the on-chain indicator BTC: Market Cycle Signals reveals that we are just warming up,” GugaOnChain added, referring to a current BTC price support zone.
The 20-month SMA has confluence with Bitcoin’s 2026 opening level at $87,490, boosting its strength as resistance. As Cointelegraph reported, large walls of ask liquidity remain in the vicinity across exchange order books.
Onchain data shows entrenching Bitcoin bull marketCryptoQuant maintains a broadly optimistic stance on Bitcoin’s emerging bull market despite crypto and risk assets navigating macroeconomic headwinds.
This week, contributor XWIN Research Japan flagged data from three onchain metrics that they said gave reason for “cautious optimism” for bullish momentum to return through the end of October.
In late August, CEO Ki Young Ju officially stated that the bear market was “over” based on readings from the bull-bear market cycle indicator. This uses composite data from several onchain profitability metrics, and shows bullish momentum accelerating with a reading of 0.186 on its scale versus 0.042 in August.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Google has demonstrated a 40-fold reduction in quantum computing errors using its Willow processor, advancing a technology that researchers believe could eventually challenge the cryptography protecting Bitcoin.
Summary
Google reduced quantum computing errors approximately 40-fold using magic state cultivation on its Willow processor. Google’s researchers achieved 99.99% logical fidelity while testing purified quantum states on real computing hardware. Glassnode estimated 6.04 million BTC had exposed public keys, representing 30.2% of mined Bitcoin. Google’s earlier research estimated future cryptographic attacks could require fewer than 500,000 physical quantum qubits. Coinbase published Bitcoin security recommendations on October 13, addressing migration challenges and vulnerable legacy coins. Google announced the results on October 15, 2026, following the publication of its research in the scientific journal Science. The experiment used a technique called magic state cultivation to produce quantum states with 99.99% logical fidelity, or accuracy, under the researchers’ testing method.
The achievement addresses a technical problem that has limited efforts to build reliable quantum computers. Although Google’s experiment did not break Bitcoin’s encryption, its findings concern technology that could eventually help future machines perform the calculations needed to attack existing cryptographic systems.
JUST IN: Google’s Willow chip advances quantum computing, raising fresh questions about Bitcoin’s security
A new technique called “magic state cultivation” cuts quantum errors roughly 40x with 99.99% accuracy, but scaling it up remains a challenge before quantum computers could… pic.twitter.com/9gL46tAPJT
— crypto.news (@cryptodotnews) October 16, 2026 The research follows Google’s March assessment that a sufficiently powerful quantum computer could break the type of elliptic curve cryptography used by Bitcoin with fewer than 500,000 physical qubits under specified hardware assumptions.
Google cuts quantum computing errors by 40 times Google’s latest experiment focused on reducing errors in special quantum states used to perform certain advanced calculations. Known as magic states, they provide resources needed for operations that ordinary quantum error-correction methods cannot perform on their own.
Creating these states has been one of the expensive parts of quantum computing. According to Google’s researchers, some estimates suggest that producing sufficiently reliable magic states could consume as much as 95% of a quantum computer’s capacity.
The new method begins with a quantum state that contains errors and subjects it to repeated checks. Attempts that fail the tests are discarded, leaving the successful ones with substantially lower error rates.
Using the Willow processor, Google demonstrated that the cultivation process reduced errors by approximately 40 times compared with states created without the method. Its researchers reported a record logical fidelity of 99.99% for the resulting T-states, which are used in important quantum computing operations.
Research scientists Emma Rosenfeld and Craig Gidney described the result as the first experimental demonstration of an efficient method for producing these resources on real quantum hardware.
The team developed the approach from theoretical work conducted in 2024 by Gidney, Noah Shutty, and Cody Jones. Turning the proposal into a working experiment required changes to both the hardware controls and the techniques used to measure errors.
During testing, researchers discovered that electrical drift and temperature variations were interfering with their measurements. They introduced new controls and developed a benchmarking method that allowed the cultivation process to help verify its own accuracy.
Google subsequently demonstrated that purified states could transfer between two quantum error-correction methods, known as color codes and surface codes. The experiment successfully moved a state from a distance-3 color code into a distance-5 surface code.
The company cautioned that the technique still needs testing at larger scales before it can support practical quantum computers.
What Google’s quantum advance means for Bitcoin security Bitcoin uses public-key cryptography to authorize transactions and prove that funds are being spent by their rightful owners. Private keys remain secret, while public keys can be used to verify digital signatures.
A sufficiently powerful quantum computer running Shor’s algorithm could theoretically calculate a private key from an exposed public key. Such an attack would threaten funds protected by existing elliptic curve signature systems.
In March 2026, Google researchers estimated that future machines could break 256-bit elliptic curve cryptography using fewer than 500,000 physical qubits. The research involved hardware assumptions and calculations that have not been demonstrated on a machine capable of attacking Bitcoin.
The estimate represented approximately a 20-fold reduction from earlier resource calculations. Google’s researchers developed optimized quantum circuits intended to perform the mathematical operations required to recover private keys from public keys.
However, the work still requires millions of quantum operations and reliable error correction. Magic states are needed to support some of those operations, making Google’s latest experiment relevant to the technical requirements identified in its earlier research.
The Willow processor contains 105 physical qubits, far below the resources described in Google’s Bitcoin security study. Its latest achievement involved preparing and verifying quantum states, not extracting cryptocurrency private keys.
As previously examined in Google’s accelerated quantum security timeline, the company has urged organizations to prepare for post-quantum cryptography before capable machines become available.
Google has not announced when its cultivation method will work at the scale needed for practical cryptographic attacks. The company acknowledged that technical challenges remain in expanding the experiment to larger systems.
Glassnode identifies 6.04 million BTC with exposed public keys The potential threat to Bitcoin depends partly on whether an attacker’s target has a publicly visible cryptographic key.
Blockchain analytics firm Glassnode estimated in May that approximately 6.04 million BTC, equivalent to 30.2% of the mined supply at the time, had public-key exposure while sitting in unspent transaction outputs.
The research separated exposed holdings into two categories. Approximately 1.92 million BTC were classified as structurally exposed because their address formats revealed public keys by design.
Another 4.12 million BTC were considered operationally exposed through practices such as address reuse and partial spending. In certain transaction structures, spending Bitcoin reveals a public key that was previously hidden behind a cryptographic hash.
The figures measure exposure under Glassnode’s methodology, not coins that quantum computers can currently steal. They do not establish that all 6.04 million BTC would be accessible to an attacker under identical conditions.
The findings were covered in an earlier report on quantum computing risks to blockchain security, which examined European regulatory concerns and the concentration of Bitcoin in potentially vulnerable addresses.
Another challenge involves coins whose owners may no longer possess the private keys needed to move them. Researchers have estimated that millions of BTC could remain in old wallets because their owners lost access, abandoned the accounts, or have not moved the holdings for years.
A June study by Quantus estimated that approximately 2.3 million BTC could be difficult or impossible to migrate using ordinary wallet procedures.
The research, previously examined in warnings about lost Bitcoin and future quantum attacks, described potential risks involving dormant wallets and early Bitcoin holdings.
Those figures remain estimates. Public blockchain data cannot conclusively determine whether an inactive wallet’s owner has lost access or simply chosen not to spend the coins.
Coinbase proposes steps to protect Bitcoin from quantum attacks As researchers continue improving quantum hardware, cryptocurrency companies are examining how Bitcoin could transition to signature systems designed to resist quantum attacks.
On October 13, Coinbase published recommendations addressing Bitcoin’s long-term security, including the treatment of exposed coins, new wallet formats, and the practical challenges of replacing existing cryptographic signatures.
The exchange argued that protecting Bitcoin requires more than selecting a quantum-resistant algorithm. A successful transition would need to consider transaction fees, limited block space, wallet compatibility, custody systems, and the ability of independent nodes to verify transactions.
Coinbase described several possible approaches to coins that cannot move before a future security upgrade. Options included restrictions on spending from vulnerable addresses and recovery mechanisms that could allow legitimate owners to reclaim affected holdings.
The exchange did not present those possibilities as agreed Bitcoin policy. Decisions involving dormant coins and potential restrictions would require discussion and acceptance within Bitcoin’s decentralized development community.
For active wallets, Coinbase supported allowing users to adopt quantum-resistant options through a staged transition. The proposal would give developers and custodians time to test new signature systems before existing protections become vulnerable.
Some Bitcoin developers have already proposed changes through Bitcoin Improvement Proposals, including BIP-360, which introduces a proposed output type intended to reduce public-key exposure in certain circumstances.
Researchers have warned that migrating large numbers of Bitcoin transactions could require several years, depending on the selected signature system, network capacity, and the number of users moving their funds.
A separate June study projected that a migration beginning in 2026 might finish between 2029 and 2031 under its assumptions. The calculation remains conditional, and Bitcoin has not approved a network-wide deadline for switching to post-quantum signatures.
Google’s latest research provides a new experimental result for quantum hardware development, while Coinbase’s October recommendations remain open for discussion among Bitcoin developers, researchers, custodians, and other network participants.
Bitcoin is attempting to break through an “inflection frontier” that has historically triggered runs to new macro highs.
Key points:
Bitcoin (BTC) may continue to new all-time highs if it successfully breaks through its 20-month moving average at $87,165, CryptoQuant reported.The market cycle signals metric showed BTC/USD poised to reclaim this “inflection frontier,” which it lost in December 2025. CryptoQuant’s bull-bear market cycle indicator continued to show Bitcoin as being in a bull market.
Analysis: Bitcoin “reset” complete as key trend line reappearsData from onchain analytics platform CryptoQuant reveals that BTC/USD has begun a fresh battle with its 20-month simple moving average (SMA).
The 20-month SMA, at $87,165 as of Oct. 16, is the trend line around which the popular Bollinger Bands metric is constructed. This in turn forms the basis for CryptoQuant’s market cycle signals tool, which seeks to pinpoint Bitcoin’s position within its market cycle.
Bollinger Bands uses standard deviation to add an upper and lower band around the 20-month SMA. Currently, these sit at $121,640 and $52,694, respectively. CryptoQuant’s indicator describes the zone between the lower band and SMA as an “accumulation base,” while the SMA itself is referred to as an “inflection frontier,” a previous point of investor capitulation as price broke below it from above, most recently in December 2025.
BTC/USD one-month chart with Bollinger Bands. Source: Cointelegraph/TradingView
With Bitcoin now preparing to challenge the capitulation zone from below, history shows that successful breakouts have led to new cycle highs.
“Just over a year after the all-time high (ATH) of $124,709 on October 6, 2025, the market has concluded its ‘reset,’” CryptoQuant contributor GugaOnChain summarized in a blog post.
While Bollinger Bands are not intended to offer buy and sell signals, market cycle signals sees “smart money” taking profit once BTC/USD reaches its upper band. While this currently sits just below Bitcoin’s most recent all-time high of $126,200 from October 2025, CryptoQuant sees the next rally continuing beyond that level.
“While retail fears the current $82,442, thinking it’s the ‘top,’ the on-chain indicator BTC: Market Cycle Signals reveals that we are just warming up,” GugaOnChain added, referring to a current BTC price support zone.
The 20-month SMA has confluence with Bitcoin’s 2026 opening level at $87,490, boosting its strength as resistance. As Cointelegraph reported, large walls of ask liquidity remain in the vicinity across exchange order books.
Onchain data shows entrenching Bitcoin bull marketCryptoQuant maintains a broadly optimistic stance on Bitcoin’s emerging bull market despite crypto and risk assets navigating macroeconomic headwinds.
This week, contributor XWIN Research Japan flagged data from three onchain metrics that they said gave reason for “cautious optimism” for bullish momentum to return through the end of October.
In late August, CEO Ki Young Ju officially stated that the bear market was “over” based on readings from the bull-bear market cycle indicator. This uses composite data from several onchain profitability metrics, and shows bullish momentum accelerating with a reading of 0.186 on its scale versus 0.042 in August.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
France-based Capital B, one of Europe’s leading Bitcoin treasury companies, reported a net loss of €69.5 million ($78 million) for the first half of 2026, mainly due to a $75.8 million impairment charge on its Bitcoin holdings.
Impairment charges and revenue performanceThe impairment charge reflected Bitcoin prices as of June 30 and did not result in an immediate cash outflow. Despite the accounting-driven loss, Capital B recorded a 3.5% year-on-year rise in consolidated revenue, reaching $6.5 million for the reporting period.
However, the company’s adjusted EBITDA stood at negative $1.2 million, signaling that operational earnings before non-cash items and financing costs remain in deficit. The adjusted EBITDA metric is often used by companies to demonstrate underlying profitability excluding the impact of non-cash accounting charges and financing structure.
Capital B continued to pursue its Bitcoin accumulation strategy, raising additional capital throughout the first half of the year. The company secured $30 million in new capital, supporting further expansion of its treasury assets.
Bitcoin holdings and treasury rankingCapital B increased its Bitcoin holdings by 11% during the first six months of the year, rising from 2,823 BTC in January to 3,139 BTC by the end of June. By September 30, the total held in treasury climbed to 3,538 BTC, marking a 25% rise from the start of the year.
At current valuations, Capital B’s Bitcoin treasury is worth approximately $290 million. The company now ranks as the 25th-largest corporate holder of Bitcoin globally and the second-largest in Europe, behind the Germany-based Bitcoin Group, according to data compiled by Bitcointreasuries.
Mini dictionary: Bitcointreasuries, an online platform that tracks and ranks public and private companies around the world by the size of their Bitcoin holdings.
CompanyRegionBTC Holdings (Sept 30, 2026)Estimated ValueGlobal RankingCapital BFrance3,538 BTC$290 million25thBitcoin GroupGermany(Higher than 3,538 BTC)(Higher than $290 million)(Above 25th)Stock performance and strategic initiativesCapital B’s stock rose 0.5% in early morning trading on Friday, but remains down 25% since the start of the year, according to Yahoo Finance data.
In July, the firm approved a 10-for-1 reverse stock split, intended to attract more institutional investors by increasing the share price per unit. Earlier, in June, shareholders authorized up to $120 billion in funding capacity through a mix of equity and credit instruments to further support the company’s Bitcoin accumulation strategy.
Capital B continues to expand its Bitcoin treasury, raising significant funds to maintain growth in holdings, despite reporting a sizable accounting loss linked to Bitcoin price fluctuations through impairment charges.
An alleged scammer is among the main victims of recent thefts affecting Ledger wallets. Chainalysis reveals on October 15 that an operator suspected of organizing a scam involving fake paid tasks lost over 60 bitcoins, approximately 4.8 million dollars. The funds had been distributed across three addresses before being stolen on October 9. The case takes an unexpected turn: the stolen bitcoins are themselves reportedly from a scam.
In brief
An alleged scammer loses more than 60 bitcoins, valued at 4.8 million dollars.
The funds originated from a scam involving fake paid tasks, according to Chainalysis.
Three Bitcoin addresses were emptied on October 9 for the benefit of a single wallet.
An alleged scammer loses 60 bitcoins in the Ledger case
Chainalysis has just identified an unexpected victim of the thefts that occurred on October 9. The blockchain analysis company states that an operator suspected of scamming lost more than 60 BTC in this attack. The case occurs as Ledger confirmed the presence of a spy device in certain wallets, especially among devices distributed in Southeast Asia.
The bitcoin movements traced by Chainalysis date back to September 22. On that day, the operator suspected of scamming reportedly transferred his funds to three distinct Bitcoin addresses, associated with Ledger wallets. The device was probably intended to keep the assets away from exchanges. The funds remained on these addresses for a little over two weeks.
On October 9, the funds disappeared. Three transactions were enough to empty the three addresses and transfer the bitcoins to the same wallet, already linked to other thefts. In total, more than 60 BTC changed hands, for an estimated value of 4.8 million dollars according to Chainalysis.
The identity of the operator was not made public. No information is available that confirms he was prosecuted. However, the analysis company believes the bitcoins held on these addresses came from fraudulent activity.
The bitcoins originated from a fake job scam
The origin of the funds makes this case particular. Chainalysis links the bitcoins to a scam called task scam, or fake paid tasks scam. The principle is to offer simple tasks to internet users. Participants must notably post fake reviews on products or simulate purchases to artificially boost their commercial reputation.
At first, the promised payments seem accessible. Victims may even receive small payments to convince them to continue. Then the operation changes. The platform suddenly shows a negative balance. To recover their earnings or finish their tasks, participants must deposit their own money.
Some make multiple deposits hoping to unlock their payment. The promised earnings are never paid. This mechanism is well documented by the U.S. Federal Trade Commission. In an alert published in August 2025, the authority explained that fraudsters often demanded crypto deposits to unlock fictitious commissions.
The operator identified by Chainalysis would have used this type of device to accumulate funds then converted or kept in bitcoins. The 60 BTC do not necessarily correspond to his own savings. They would represent part of the proceeds of the scam. Their theft by another criminal group does not mean that the people initially scammed recovered their money. No reimbursement has been confirmed.
Ledger faces the consequences of the attack
The theft of 60 bitcoins is part of a much larger case. Since October 9, several Ledger wallet users have reported the disappearance of their assets. Investigations revealed that some devices had been physically modified before delivery.
Hidden electronic components made it possible to recover users’ recovery phrases during setup. The information could then be transmitted remotely via a mobile connection.
The manufacturer asserts that its servers, operating system, and secure chips were not compromised. The attack concerned the distribution of some authentic devices, modified after they left the channels controlled by Ledger. In response to these discoveries, Trezor also announced a tightening of its reseller network, with changes scheduled from January 2027.
For its part, Ledger asked its distributors to reinforce stock controls and to no longer resell returned devices.
The company is also cooperating with authorities to track the stolen funds. The total losses remain difficult to establish. Several independent estimates mention tens of millions of dollars, some exceeding 90 million. However, Ledger has not confirmed a definitive amount.
As early as October 10, Changpeng Zhao warned about risks related to physical manipulation of Ledger wallets. The identification of the alleged scam operator now provides additional information about the victims. The Bitcoin blockchain allows tracking of transfers made between addresses. However, it alone is not sufficient to establish the identity of people involved or to restore the funds. For the initial victims of the fake paid tasks scam, the 4.8 million dollars therefore remain out of reach.
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Evans S.
Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Paper Trade User Generates $10.1B Volume on Day 1, Loses $979K but Earns 252M $PAPER Tokens Worth $1.73M
Meet this guy who really knows how to make money on @papertrade_xyz!
He's made $762K so far.
On the first day of @papertrade_xyz's launch, he generated $10.1B in trading volume and lost $979K, earning 252M $PAPER tokens.
He then stopped trading and has since claimed $1.73M in
4 minutes ago
Upbit will suspend deposits and withdrawals of digital assets worth 1 million Korean won or more with BitMEX.
Upbit official announcement: Due to BitMEX terminating access to the travel rule solution VerifyVASP, Upbit will suspend digital asset deposits and withdrawals of 1 million KRW or more between the two exchanges starting October 16. Deposits under 1 million KRW will remain supported as normal. Manual deposits of 1 million KRW or more from BitMEX to Upbit will be discontinued from 14:00 on December 18. Any such assets received after that will enter a refund process, and users must retrieve them in accordance with the refund procedure.
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BonkGuy's portfolio value increased by over $1 million in the past 24 hours.
Trader BonkGuy’s portfolio value has surged by over $1 million in the past 24 hours, now standing at $11.43 million. His current positions boast unrealized gains of roughly $5.63 million from PONS, $1.57 million from USELESS, and $1.43 million from MarsCoin, keeping him the top-ranked trader on the Fomo platform.
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Data: Papertrade’s loss mining period lasted less than 6 days, with the top three addresses by trading volume each exceeding $10 billion.
According to EmberCN’s monitoring, since the Papertrade platform on the Hyperliquid chain launched loss mining on the 10th, the three addresses with the highest trading volumes have all surpassed $10 billion each in less than six days. The top address posted a trading volume of $11.6 billion, with trading losses of $780,000, earning 46 million PAPER tokens at an acquisition cost of $0.017 per token. The second address recorded $10.3 billion in trading volume, $930,000 in trading losses, and received 85 million PAPER tokens at an acquisition cost of $0.011 per token. The third address saw $10.1 billion in trading volume, $980,000 in trading losses, and obtained 252 million PAPER tokens at an acquisition cost of $0.0039 per token. The acquisition cost excludes PAPER token dividends; factoring in dividends would lower the cost further, with the third address potentially even holding a negative cost.
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Bonk Guy's Portfolio Surges $1M+ in 24H, Maintains #FOMO Leaderboard Lead
As the market rebounds, Bonk Guy(@theunipcs)'s portfolio has grown by $1M+ in the past 24 hours.
He remains No. 1 on both #FOMO's 24H and All-Time leaderboards.
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Hong Kong Exchanges and Clearing (HKEX) aims to transition to T+1 settlement in the second half of 2028.
Hong Kong Exchanges and Clearing (HKEX) has published a consultation summary document on shortening the settlement cycle of Hong Kong’s spot stock market, which shows widespread market support for implementing a T+1 settlement cycle in Hong Kong’s securities market. Based on feedback from various stakeholders, HKEX plans to complete the relevant transition in the second half of 2028, provided the market is ready and regulatory approval is obtained. The consultation received a total of 109 non-duplicate responses from market stakeholders including brokers, custodians, investment managers, industry associations, technology vendors, and investors. Respondents supported Hong Kong’s adoption of a T+1 settlement cycle, agreeing that this move will help enhance market efficiency, reduce settlement risks, improve capital efficiency, and consolidate Hong Kong’s competitiveness as an international financial center.
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.
The United States became a net importer of Bitcoin in 2026 for the first time since 2022, according to a study by Chainalysis. The analysis, which covered the year ending June 2026, pointed to a growing divide between institutional inflows and retail investor activity as the main force behind this shift.
Surge in Large Transfers Boosts Bitcoin InflowsChainalysis noted that transactions above $10 million brought a net inflow of 53,200 BTC, valued at approximately $4.3 billion, into the country. In contrast, transfers under $10,000 consistently showed net outflows during each measured period, indicating that retail investors were moving Bitcoin out while institutions were bringing more in.
The report did not specify which institutions were responsible for these flows or the exact destinations of retail outflows. However, it highlighted that high-value transactions overwhelmingly contributed to net imports.
Instead of reflecting physical movement, Chainalysis uses a set of geoactivity indicators—including crypto service usage, exchange activity, and cross-border receipt data—to estimate the location of Bitcoin assets. These metrics help clarify asset movement even though Bitcoin transactions are borderless.
Large-value activity played an increasingly significant role in shaping the United States’ Bitcoin movement throughout the period in question, Chainalysis found, demonstrating a shift driven primarily by institutions rather than retail investors.
This distinction underscores that not every American institution necessarily accumulated Bitcoin. International transfers, global exchange activity, and payments all factored into the recorded geographic flows.
ETF Flows and Institutional ImpactThe launch of spot Bitcoin exchange-traded funds (ETFs) in the United States in January 2024 marked a major development for the asset’s local availability. Chainalysis reported that U.S. participation in global Bitcoin transactions has increased every quarter since then. However, ETFs themselves were not the primary driver of 2026’s net inflows, as spot Bitcoin ETFs saw about $5.39 billion in net outflows in the first half of that year before recovering in subsequent months.
The report suggested that other institutional channels, beyond ETFs, were likely responsible for driving large transfers into the country. The integration of ETFs nonetheless continued to link traditional finance with the crypto market, increasing Bitcoin’s reach among a broader range of investors.
Chainalysis also referenced the role of the federal Strategic Bitcoin Reserve as an implicit indicator of possible sovereign demand but found no direct evidence of government acquisitions.
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.
Stablecoin Flows and Dollar DominanceWhile the United States saw net Bitcoin inflows, dollar-pegged stablecoins primarily serviced international users for payments, savings, and cross-border commerce. According to Chainalysis, the difference in flows is largely attributed to banking accessibility, as overseas users rely on stablecoins to hold dollar value in areas with limited banking access, while U.S. residents have direct alternatives.
Dollar-backed stablecoins maintain international demand through reserves made up of U.S. Treasury bonds and other regulated investments. The Federal Reserve noted that stablecoin issuers’ Treasury holdings surpassed $200 billion over the past five years, helping offset China’s declining holdings.
Chainalysis reported that 99.1% of stablecoins traded on order books were dollar-pegged tokens, compared to just 0.45% for euro-pegged tokens, underscoring the dominance of the dollar in digital assets despite regulatory discussions about alternatives.
For U.S. companies, this ongoing demand opens up new opportunities in payment solutions and finance infrastructure.
Crypto Economy Trends and TokenizationThe total crypto economy in the United States reached $2.78 trillion over the reporting period, representing a 2.2% decline from the previous quarter. Despite this drop, the country remained the world’s largest crypto market among those reviewed.
Tokenized real-world assets featured prominently in the trend. Chainalysis estimated that such assets amounted to $36.07 billion in the second quarter of 2026, with tokenized U.S. Treasury debt accounting for $15.42 billion, or about 43% of the total.
The direction of Bitcoin flows is important for institutions, individual investors, payment firms, and government policymakers. Shifts in ETF activity, large-scale transactions, stablecoin-related regulations, and tokenized asset adoption are set to remain influential factors in shaping the United States’ evolving crypto market.
Ripple CEO Brad Garlinghouse pointed to new options as XRP treasury company Evernoth Holdings Inc. (Nasdaq: XRPN) made its public market debut on October 14. He mentioned that the crypto token could be utilized more by implementing yield-generating strategies or introducing institutional investment products. His statement occurred as the company aims to provide investors with exposure to XRP via an active digital asset treasury.
Ripple CEO Brad Garlinghouse Sees New XRP Yield Opportunities Garlinghouse stated that Evernorth might eventually become a more than traditional investment strategy for cryptocurrencies through creating products that leverage blockchain features. It’s possible that these kinds of offerings will give investors other ways to invest in than just holding XRP for its price appreciation.
“The ability to leverage even some of the on-chain capabilities to leverage yield” could help build institutional products, he said. He also pointed to opportunities that can be both on-chain and off-chain.
Garlinghouse attributed the success of Ripple-backed Evernorth to its team of people placed together by its CEO, Asheesh Birla. He added that Birla’s leadership has the potential to provide differentiated investment strategies on XRP.
“You’re going to see some interesting leverage and yield opportunities,” Garlinghouse said. These products may contribute to XRP’s success, he added.
The Ripple co-founder also noted that he wanted to ensure that crypto investments are available to more people. He said that a publicly-listed investment vehicle might be able to connect with investors who are not able to participate directly in the digital asset market.
Ripple Backs Evernorth’s XRP Treasury Strategy Garlinghouse also gave the reasons for the contribution of a large amount of XRP to Evernorth by Ripple. He said that the contribution was part of Ripple’s strategy to help build out blockchain ecosystems and their communities.
He remarked, “Ripple has since really its inception looked at, ‘How do we invest in the ecosystem?’ How can we help the community?
Garlinghouse then pointed out that Ripple’s investments are not restricted to XRP. The company believes in a multi-chain environment, while recognizing the XRP Ledger’s distinct capabilities.
Birla’s appointment as CEO of Evernorth has boosted Evernorth’s interest in Ripple, Garlinghouse said. He commended Birla for her foresight and knack for team building, even during his tenure at Ripple.
Evernorth Debuts on Nasdaq With 473 Million XRP Evernorth just went public on the Nasdaq on Oct. 14, when it rings the Nasdaq closing bell at Nasdaq MarketSite in New York’s Times Square. Bhagmal and Birla conducted the ceremony.
The event was initiated after Evernorth’s business combination with Armada Acquisition Corp. II was completed on Oct. 9. The deal allowed the company to go public on the ticker XRPN.
Evernorth had an estimated 473 million XRP in its holdings at closing. It had accrued approximately $300 million in gross cash proceeds, excluding transaction costs.
The firm provides investors exposure to the XRP either through its public trading shares or via other investment strategies. Its performance will be influenced by its XRP reserves, treasury management, financing and operating results.
PANews, October 16 - According to SoSoValue data, yesterday (October 15, US Eastern Time), US XRP and ZEC spot ETFs saw single-day total net outflows of $104,500 and $14.7633 million respectively, for a combined net outflow of $14.8678 million; NEAR spot ETFs saw a single-day total net inflow of $1.126 million.
For XRP, Franklin XRP ETF (XRPZ) saw a single-day net inflow of $3.6448 million, with cumulative historical net inflows of $513 million; Bitwise XRP ETF (XRP) saw a single-day net outflow of $3.7494 million, with cumulative historical net inflows of $685 million. As of press time, XRP spot ETFs had total net assets of $1.528 billion, a net asset ratio of 1.81%, and cumulative historical net inflows of $1.803 billion.
For ZEC, only Zcash ETF (ZCSH) recorded a net outflow on the day, amounting to $14.7633 million, with cumulative historical net inflows of $164 million. As of press time, ZEC spot ETFs had total net assets of $674 million, a net asset ratio of 3.21%, and cumulative historical net inflows of $164 million.
For NEAR, only Bitwise NEAR ETF (NRR) recorded a net inflow on the day, amounting to $1.126 million, with the fund's cumulative historical net inflows at $80.4407 million. As of press time, NEAR spot ETFs had total net assets of $86.1425 million, a net asset ratio of 1.24%, and cumulative historical net inflows of $80.4407 million.
XRP whale inflows to Binance reached 1.669 billion $XRP over 30 days, a seven-month high, according to CryptoQuant analyst Arab Chain. Deposits do not confirm selling.
XRP whale inflows to Binance have climbed to 1.669 billion $XRP over 30 days, according to CryptoQuant analyst Arab Chain. The reading is the highest in seven months and exceeds September's peak of around 1.65 billion XRP.
What the data showsThe metric tracks cumulative transfers of XRP from large wallets to Binance over a rolling 30-day window. It is not a single-day figure. After reaching roughly 1.65 billion XRP in September, the total fell back before rebounding above that level in recent days, according to CryptoQuant data.
At a price of about $1.33 per token, the latest reading is worth roughly $2.22 billion. The inflows come as XRP trades near $1.30, a level it fell to during a broader crypto sell-off after US CPI data.
CryptoQuant has said that increased whale inflows to centralized exchanges can raise the amount of XRP available for trading, which can raise the risk of selling pressure.
Why inflows do not confirm sellingLarge transfers to an exchange make it easier to sell, but they do not show that a sale is planned. Arab Chain has cautioned that the inflows may reflect trading activity or reallocation between wallets rather than imminent selling. The analyst suggests reading net exchange flows, trading volume and price action together before drawing conclusions.
Other data points complicate the picture. A separate CryptoQuant reading showed 30-day XRP whale outflows from Binance also reached about 1.38 billion XRP, a seven-month high. That suggests gross inflows alone are not a one-way signal.
Institutional demand has also stayed positive. Based on SoSoValue data, US spot XRP exchange-traded funds have recorded net inflows for 13 consecutive weeks, with cumulative inflows of about $1.80 billion. Weekly inflows have slowed since late September, however.
For traders, the key question is whether the deposits are followed by sales on Binance or whether the tokens stay on the exchange. The next few weeks of net flow and volume data should give a clearer answer.
SourcesBitcoin.com News: XRP Whales Move 1.67 Billion Tokens to Binance
FXStreet: What could intensify XRP's downside risks?
The Crypto Basic: XRP Inflows to Binance Reach 1,669,000,000 XRP
Coinbase Markets has warned about the XRP derivatives market as a huge number of underwater bullish positions emerge, with XRP struggling to pick up again.
An insane 97% of XRP net-long notional exposure was set at prices higher than the current XRP market price of $1.31, according to the exchange.
The largest cluster of net-long exposure was set at an average entry price of around $1.40, meaning that a majority of the current remaining bullish market exposure is currently underwater.
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Traders could either add more to their bullish bets in hopes of a market recovery or fold out of those positions to prevent further losses.
What does it mean for XRP in practice?Now that XRP is falling further, some traders might feel forced to exit those positions, especially if using leverage.
This could drive some selling pressure on XRP, leading to a potential self-reinforcing cycle of falling prices forcing traders out of the market, especially leveraged ones.
On the flip side, if XRP were to recover, that could encourage traders to stay in those positions or even add more to them.
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It is also important to note that the 97% figure from Coinbase does not imply that 97% of all XRP investors are underwater. It refers to net derivatives exposure, not the full population of XRP holders.
Glassnode's methodology works by calculating the difference in outstanding long and short exposure at each entry price level. If the difference is positive, it means that the number of long positions is larger than the number of short positions. If negative, vice versa.
According to Glassnode, there is also a pretty sizable net-short exposure around $1.49 and $1.50. The largest negative cluster is over $20 million in notional value.
Hence, there is quite an unbalanced market picture, with many bullish positions struggling. However, those entry prices on the chart are not necessarily liquidation prices. We do not know precisely where traders will be forced out of those positions, which depends on leverage, margin, collateral, and so on.
XRP is trading well below its January 2018 peak. (TradingView/CoinDesk)Ringkasan
XRP trades around $1.33, about 62.5% below its January 2018 peak, while Bitcoin, Ether and several other major cryptocurrencies have surpassed their previous highs.Analysts attribute XRP’s lagging price partly to a sharp increase in circulating supply, weak fund inflows and declining trading activity and network use.Ripple’s focus on payments, XRP’s limited exposure to popular crypto sectors and years of regulatory uncertainty from the S.E.C. case have also weighed on demand.Holding is widely touted as a great way to build wealth in the crypto market, but it hasn't worked for every coin.
Take XRP (XRP), the payments-focused cryptocurrency native to the XRP Ledger and the world’s fifth-largest digital asset by market value.
The token is still trading well below its 2017 cycle high, while most other major cryptocurrencies have climbed far above theirs. In 2017, crypto broke into the mainstream, pulling in new users and investors during the frenzied run that carried into the first week or two of 2018.
XRP currently trades around $1.33, down 62.5% from its early January 2018 peak of $3.55. In other words, an XRP buyer from that peak is still underwater nearly nine years later. (XRP did briefly top its old high, reaching $3.66 in July 2025 before crashing.)
Bitcoin BTC$82.071,33 is up 314% from its December 2017 peak of $19,804. Dogecoin DOGE$0.08197 is up 322% from its January 2018 high, and BNB BNB$729,33 is up about 2,800%. Ether ETH$2.444,89 is up 66% and zcash (ZEC) is up 38%. Tron is also slightly below its peak, down about 4%. Solana launched in 2020.
Bitcoin, ether and many other tokens have pulled back sharply from their 2025 peaks, yet remain far above their 2017 highs.
Too many coinsAnalysts point first to XRP’s supply.
"Circulating supply grew 63%, from 38.7B in 2017 to 63.1B, while XRP's total market value fell only about 3%," Nicolai Sondergaard, senior research analyst at analytics firm Nansen, told CoinDesk. "More XRP in circulation means each token represents a smaller share of roughly the same total value."
Circulating supply is the number of coins on the market, and as it grows, each coin represents a smaller share of the total.
Oliver Carding, head of marketing at Tesseract Group, says XRP looks better when measured by total value instead of price.
"On value, XRP recovered," he said. "About 63% more XRP is in circulation than at that peak, so the same circulating market capitalization would mean a price roughly 39% lower."
Tesseract is an institutional digital asset management firm that manages over $500 million in assets under management.
Weaker demandU.S.-listed exchange-traded funds, or ETFs, have opened the door for institutional investors to take exposure to digital assets. While bitcoin and ether funds have pulled in billions, XRP funds have lagged big time.
"ETF uptake has also been muted relative to $BTC and $ETH," said Paul Howard, senior director at market-making firm Wincent.
To date, XRP funds have pulled in just $1.80 billion in investor money since debuting nearly a year ago, according to data source SoSoValue. Bitcoin ETFs often attract over $1 billion in investor money in a single day.
Nansen's data also shows trading activity has weakened, with XRP spot volume down 53.5%, perpetual futures volume down 44%, and active addresses down 10.7%.
Ripple's focusRipple, the payments company closely tied to XRP, has focused on cross-border payments rather than chasing sectors such as DeFi, AI, and memecoins, which have attracted greater capital flows and deeper integration with traditional finance.
"Ripple, meanwhile, has been working hard to build payment infrastructure, RLUSD and trade financing products around the usage of the ledger and coin, and this has taken focus from just core XRP," Howard said.
Investors also have more choices now.
"The role of DeFi for investment into ETH, SOL and HYPE has also been a new narrative which $XRP has not focused on," Howard said.
The SEC caseRipple’s legal fight with U.S. regulators also held XRP back.
The Securities and Exchange Commission sued Ripple and two of its executives in December 2020, saying the company had raised about $1.3 billion by selling XRP without registering it as a security.
A federal judge ruled in 2023 that XRP sales on public exchanges were not securities offerings, but that sales to institutional investors were. In 2024, Ripple was ordered to pay a $125 million penalty. The case ended in August 2025, when both sides dropped their appeals.
Carding said the prolonged regulatory uncertainty helps explain why the token missed its old high during the 2021 crypto bull run, when Coinbase suspended trading.
“The SEC case helps explain why XRP did not revisit its 2018 high in 2021, when Coinbase suspended trading, but the appeals were dropped in August 2025 with XRP above $3,” Carding said. “Since then, XRP is down about 59%, against 32% for bitcoin and 44% for ether, and its circulating market capitalisation is down about 56%.”
Not the only laggardXRP isn't the only coin trading below its early 2018 highs.
"On price, six of the other nine assets in the January 2018 top ten are further below their levels of that week," Carding said.
For those watching XRP, Carding has a suggestion.
"What I would watch is XRP against bitcoin, alongside net monthly distribution after re-escrow and changes in fund holdings," he said. "Relative weakness that persists as distribution slows would point to weaker demand."
In plain English, Carding is watching whether XRP underperforms bitcoin even as fewer new XRP tokens enter the market through Ripple’s escrow releases. If supply growth slows but XRP still lags bitcoin, it would suggest that investor demand for XRP is weakening.
Holding a cryptocurrency for five years requires significant patience and composure. Jiyeon, a well-known cryptocurrency commentator from South Korea, recently described her experience navigating long-term fluctuations in $XRP, attracting strong interest from the local investor community.
XRP price swings test investor resilienceJiyeon detailed the emotional stages of holding $XRP through dramatic market changes. She explained that a 10% drop feels insignificant, prompting her to simply buy a coffee. A 30% decline becomes a strategic opportunity to reduce her average purchase price, while a 50% fall leads her to stop checking the price altogether. At 70%, she considers herself a long-term investor, and at 90%, she resorts to meditation.
When prices recover, the sentiment quickly shifts. After a 10% increase, she feels optimistic about a potential rally. With gains reaching 100%, she once again checks her holdings, remarking that it becomes difficult to distinguish between investing and self-discipline. She commented, “Before XRP makes me rich, it’ll probably make me enlightened first.”
Jiyeon observed that periods of heavy losses led her to adopt calm, contemplative habits and ultimately build a long-term perspective. She reflected on the emotional transformation, writing, “Before XRP makes me rich, it’ll probably make me enlightened first.”
According to trading data, XRP reached $1.96 in 2021 before falling back to a range between $0.30 and $0.50. Following a key legal decision in 2023, XRP briefly spiked to $0.93 before returning to previous levels.
Throughout much of the next year, XRP traded near $0.50. A sharp breakout occurred in late 2024, propelling the price above $3. By July 2025, XRP hit a high of $3.65. The token has since entered a period of consolidation, challenging the resolve of long-term holders.
PeriodXRP Price2021 peak$1.962021–2023 average$0.30–$0.50July 2023 (court ruling)$0.93Late 2024 breakoutAbove $3.00July 2025 high$3.65South Korea’s strong XRP interestXRP remains a favorite among South Korean traders, who regularly rank the asset among the nation’s most actively traded cryptocurrencies. Industry analysts have noted that Korean retail investors favor XRP over both Bitcoin and Ethereum in terms of trading volumes, making the country a key market for the token.
Jiyeon’s profile as a prominent local crypto personality has helped her commentary resonate, especially among those who have personally experienced the market’s volatility.
Mini dictionary: Jiyeon — An influential voice in the South Korean cryptocurrency community, recognized for sharing insights and observations on digital asset investing strategies and market psychology.
The Korean XRP community responded enthusiastically to Jiyeon’s reflections. A commenter compared long-term investing to practicing discipline, raising the question of whether anyone can endure such prolonged psychological pressure. Jiyeon acknowledged this point, stating that overcoming these periods is essential for building wealth and maintaining hope.
Another participant echoed that patience, perseverance, and conviction define successful long-term XRP holders. In lighter exchanges, a commenter joked about expecting to become a millionaire but still needing to report for work, to which Jiyeon replied, “millionaire dreams, 9-to-5 reality.”
Patience, resilience, and determination were highlighted by several community members as crucial qualities for those holding XRP through pronounced market shifts.
XRP payments on X are drawing attention after Cross River Bank, the banking infrastructure provider for X Money, partnered with Ripple to integrate its US dollar-backed stablecoin RLUSD into its core banking platform, with support for transactions on the XRP Ledger.
The October 2026 announcement allows Cross River to offer RLUSD as an additional payment option alongside traditional banking services. The integration aims to help fintech companies process cross-border payments, manage treasury transfers and settle transactions around the clock.
The businesses will be able to access RLUSD through a single application programming interface (API), without having to build their own blockchain infrastructure. The integration will also allow fintech companies to move between US dollars and RLUSD, settle payments 24/7 and access wire transfers and real-time payment services through one banking platform.
Transactions on the XRP Ledger typically settle within three to five seconds, with low transaction fees. Cross River said the integration combines its regulated banking infrastructure with blockchain-based payments, giving businesses more flexibility in moving money.
RLUSD has a reported market capitalization of more than $2.5 billion, with over $1 billion issued on the XRP Ledger. The stablecoin is designed to maintain a value equivalent to one US dollar and can support payments, trading and institutional transactions.
Also Read : Ripple (XRP) Price Prediction 2026, 2027-2030: Will XRP Reach $5?
Will X Money Use XRP or RLUSD?The partnership has drawn attention because Cross River Bank also provides banking infrastructure for X Money, the payments service associated with Elon Musk’s X platform. This has led to speculation that X Money could eventually use Ripple’s payment technology.
However, the announcement does not confirm any integration between X Money and Ripple, RLUSD or the XRP Ledger. The confirmed developments are Cross River Bank’s relationship with X Money and its separate agreement with Ripple.
Therefore, XRP payments on X remain unconfirmed. Whether X Money will adopt RLUSD or the XRP Ledger has not been established by either company.
For now, the partnership expands Cross River’s payment capabilities, but any direct connection to X Money would require a separate confirmation.
Story Ends Here
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Coinbase Markets has sounded the alarm on the XRP derivatives market, as a significant portion of bullish traders face mounting losses with XRP prices failing to rebound above crucial levels.
Majority of bullish XRP positions underwaterCoinbase, one of the largest cryptocurrency exchanges in the United States, reported that 97% of XRP net-long notional exposure in its derivatives market has entry prices higher than the current XRP value of $1.31. This indicates that most traders holding long contracts are experiencing unrealized losses at present pricing.
The largest concentration of these net-long positions was established at an average entry price of $1.40. As a result, traders in these positions would require a significant price recovery before moving into profit territory. Many traders now face the possibility of either doubling down on their bullish outlook or exiting positions to cut further losses.
Coinbase highlighted that the prevailing situation means, “the majority of the current remaining bullish market exposure is currently underwater, as nearly all of these long positions were set at higher price levels.”
Risk of cascading liquidationsGiven the recent downward move in XRP, leveraged traders may be especially vulnerable. If prices continue to fall, some market participants could be forced to close losing positions, which could amplify selling pressure. This in turn might trigger a self-reinforcing cycle of price declines and position liquidations.
On the other hand, if the XRP price stages a comeback, it may encourage traders to hold onto or even increase their existing long positions. The market’s next move could have an outsized impact on sentiment, as either scenario can lead to rapid shifts in positioning.
Coinbase clarified that the 97% figure relates specifically to traders’ net derivatives exposure, and not to the overall pool of XRP investors and holders.
Short positions and net exposure dataOn-chain analytics provider Glassnode, known for its detailed market analytics, explained that its reporting methodology is based on subtracting short exposure from long exposure at each price level. A positive value signals more long positions, while negative values indicate more shorts.
Glassnode pointed out that there is also a substantial net-short cluster in the $1.49 to $1.50 range, with the largest negative cluster accounting for over $20 million in notional value. This highlights a market that is currently skewed, with many bullish positions under water and some significant bearish bets at higher price points.
While these entry prices offer insight into current market risk, they do not directly correspond to liquidation thresholds. Exact liquidation points depend on several factors including leverage, margin requirements, and collateral amounts, making it difficult to predict when or if further closures will occur.
Mini dictionary: Glassnode is a blockchain analytics platform that provides data and insights on crypto market activity, including metrics on derivatives, on-chain transactions, and wallet behaviors.
Entry priceTrader positioningNet exposureAbove $1.31Net-long97% underwater$1.40 (avg.)Net-long clusterLargest at this level$1.49 – $1.50Net-shortOver $20 millionOverall, the current derivatives landscape presents a challenging environment for XRP bulls, with a large proportion of leveraged traders facing significant losses unless market conditions shift quickly.
Bitcoin and XRP rebounded and held upside momentum on Friday as Fed Chair Kevin Warsh declined to offer clues on whether the FOMC would hike rates again later this month. Stock and crypto markets plunged after hotter US CPI and PPI inflation data reinforced concerns of Fed rate hikes.
Fed Chair Kevin Warsh Speech: Key Highlights Kevin Warsh joined IMF Managing Director Kristalina Georgieva for a discussion during the IMF-World Bank Annual Meetings. He reiterated the Fed’s commitment to price stability after the central bank’s first rate hike this year in September to 3.75-4% amid sticky inflation, elevated oil prices, and strong investment demand.
Fed chair refused to preview the October 27–28 FOMC meeting. “I don’t prejudge meetings. I don’t believe in saying now what I might do at the meetings we have in the balance of this year,” Warsh said. This continues his preference for data-dependent monetary policy decisions over forward guidance.
However, he noted that most central banks have tightened monetary policy to combat inflation, describing it as a shared fight with no free riders. He also discussed resilience in the US and other economies amid geopolitical conflicts and elevated energy prices. Notably, US retail sales data came in higher than expectations for two consecutive months.
In addition, Kevin Warsh defended September’s rate hike as necessary and called AI “probably the most consequential change to the US and the global economy in my lifetime.” He warned the near-term path will be “very bumpy.” Currently, AI-related investment is boosting demand, with the U.S. benefiting from a broader investment surge beyond AI.
He highlighted that structural growth and investment tailwinds are giving the U.S. economy strength. However, investors remain cautious amid market volatility after hot US CPI and PPI inflation data.
Bitcoin and XRP Prices Rebound Asia stock markets, US stock futures, and crypto prices edged higher on Friday as investors anticipate a Fed rate pause in October. CME FedWatch Tool shows a decline in 25 bps Fed rate hike odds from 33% to 15% in just a few hours. However, concerns about a December Fed rate hike remain.
Meanwhile, 10-year Treasury yields were largely stable near 5.08% after Fed Chair Kevin Warsh remarks. The U.S. dollar index (DXY) dropped to 101.83. Oil prices dipped to almost $97 per barrel as the IEA plans to fast-track its remaining emergency oil stock release and Russian diesel supply. Meanwhile, Iran strikes tankers in the Strait of Hormuz.
Bitcoin has jumped more than 2% over the past 24 hours, currently trading near $82,300. Price rebounded from $79,805 to hit a 24-hour high of $82,508 amid buy-the-dip sentiment. It now holds above the key 50-day moving average level.
XRP price jumped strongly and holds near $1.35, after a drop to $1.28 over the past 24 hours. As CoinGape reported, a popular analyst predicted a fall towards $1.25 before buying pressure to reclaim $1.42 and $1.60 amid strong upside momentum.
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XRP trades at $1.34, and the chart has reached a critical point. The 50-day average, shown in blue, sits near $1.39. The 200-day average, in black, is just beneath it at about $1.38. The gap between them is tiny. If the blue line slips below the black one, the death cross is complete.
XRP drops downThis signal has an ominous name, but it is slow. It reacts to price that has already fallen. XRP dropped from $1.66 in late September to $1.34 now, and that decline is what pulled the 50-day line down. The cross would therefore confirm a move that has already happened, not predict a new one. Still, many traders watch it, and headlines can add selling pressure.
XRP/USDT Chart by TradingViewPrice is also sitting at the orange line near $1.34. This line has held XRP up since the August jump. Over the past few days, sellers pushed below it, but buyers brought price back. The wick down to about $1.28 shows that dip buyers are active. Today's small green candle is a first sign of defense, although it is not strong.
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Are sellers on the edge?The RSI is near 40, which means sellers have the edge, but the market is not yet oversold. Volume has also dried up compared with August and September. Low volume on a drop can suggest sellers are tired. It can also suggest that no one is interested in buying. Without a spike in volume, a clean reversal is hard to trust.
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The cross will most likely finalize if XRP closes below the orange line and the $1.28 low. In that case, the next area to watch is $1.25, where price bounced in mid-September, followed by the $1.15 to $1.20 zone. Selling could accelerate there because the moving averages would all point down.
A different path exists. If XRP closes above $1.40, it would climb back over the blue and black lines at the same time. That would stop the 50-day line from falling and cancel the cross for now. Bulls could then aim for $1.45 and the green line, and later $1.55.
My view is that the cross is more likely than not, because the averages are already touching and price is below them. But the orange support has not broken yet. A few daily closes will decide the matter. Until then, the setup is a coin flip with a slight tilt to the downside.
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.
Speculative traders in the derivatives market launched a large-scale counterattack to defend the XRP token from a prolonged decline after the release of tough macroeconomic data in the US.
According to the analyst 'DarkFrost' from CryptoQuant, an abnormal capital inflow was recorded on Binance alone as key support levels broke: more than $184 million flowed into long contracts within a few hours. This allowed XRP to quickly recover from its drop below $1.30 and show a local rebound of 5%.
XRP Taker Buy Volume spikes on Binance as price dips below $1.30, Source: @darkfost_coc / CryptoQuant
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The massive wave of selling began after XRP corrected by 22.5% from its September high of $1.65. Pressure on the cryptocurrency sector came from US consumer price (CPI) and producer price (PPI) indices that were "hotter" than expected, which triggered a drop in US stock indices.
However, some large players viewed XRP's drop below $1.30 as an extreme market asymmetry and opened positions against the current bearish trend.
All the money went to Binance (literally)On-chain data confirms that the defensive wave of liquidity was isolated and bypassed other major exchanges, concentrating in one place:
Abnormal volume on Binance: In the peak hour, the volume of market buy orders (Taker Buy Volume) on the exchange exceeded $73 million. Several subsequent hourly intervals brought in another $35 million each, forming a total of $184 million in speculative capital.
Low activity on competing exchanges: Other major exchanges ignored the move. In the same peak hour, the volume of similar buys on Bybit was only $1 million, and on OKX, less than $451,000.
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Despite the short-term success of the strategy and the subsequent 5% price rise, analysts point to high risks for the market. The spike in the Taker Buy Volume metric in the derivatives market reflects the opening of leveraged positions rather than long-term interest from spot investors.
The high concentration of margin contracts in a narrow price range on Binance makes XRP highly vulnerable to cascading liquidations and guarantees increased volatility in the coming days.
XRP is currently trading at $1.34, approaching a pivotal technical moment as its recent price decline has brought two important moving averages close together. The 50-day moving average stands at $1.39, just slightly above the 200-day moving average at $1.38. This small gap signals a possible “death cross,” which occurs when the shorter-term average falls below the longer-term one—a setup many traders view as bearish.
Death cross draws attentionThe death cross pattern, despite its ominous name, typically lags price action. XRP already fell from $1.66 in late September to $1.34, prompting the convergence of the two averages. The signal, if triggered by the 50-day moving average crossing below the 200-day, would confirm the weakness that has already taken place rather than predict new losses. However, this technical development often attracts trader attention and can increase selling pressure if widely reported.
The orange support line near $1.34 has held since XRP’s surge in August. Sellers briefly pushed the price below this level in recent sessions, but buyers stepped in, with the price wick reaching as low as $1.28. The current small green daily candle suggests that some buying defense is present, but the response remains tentative.
Market conditions and volume signalsThe relative strength index (RSI) remains near 40, signaling an edge for sellers but not yet indicating an oversold market. Trading volume has also declined since earlier surges in August and September. Low volume during a price drop can mean sellers are losing momentum, but it can also show a lack of buying interest. Analysts caution that, without a significant uptick in volume, any attempted reversal may lack conviction.
If XRP closes below the orange support line and falls through the recent $1.28 low, the next support sits at $1.25—where a bounce occurred in mid-September—followed by the $1.15 to $1.20 region. A break lower could prompt further selling, as the moving averages would all tilt downward.
Level/IndicatorCurrent ValueSignificanceSpot price$1.34Near key support50-day average (blue)$1.39Approaching 200-day, potential death cross200-day average (black)$1.38Long-term trend gaugeOrange support line$1.34Key daily support since AugustRecent low (wick)$1.28Activated dip buyingNext major supports$1.25, $1.15–$1.20Potential targets if support failsPaths forward for XRPA decisive move below $1.28 would likely finalize the death cross, intensifying the bearish outlook. Downside targets then shift to $1.25, and potentially into the $1.15 to $1.20 range if selling accelerates further.
On the upside, a close above $1.40 could negate the crossover and restore some bullish momentum. In that case, XRP would remain above both moving averages, allowing bulls to potentially target resistance at $1.45 and the green line, and later $1.55 if positive momentum continues.
Technical analysts describe the current situation as finely balanced. While the two averages are nearly converged and the price sits just below them, the orange support has not yet broken down. The next few daily closes are expected to determine whether the death cross is confirmed or a rebound develops.
XRP’s price now hovers at a major support, with moving averages nearly aligned and the market awaiting confirmation of a decisive move. A breakdown below $1.28 would likely accelerate bearish momentum, while a recovery above $1.40 could nullify the impending signal and push the price higher.
A recent vision shared by Brandon Biggs, an Oklahoma-based pastor known for his prophecies regarding XRP, has reignited discussion within the cryptocurrency’s online community. Biggs became the subject of attention after his previous claims suggesting that XRP could reach as high as $10,000, drawing widespread curiosity in both faith-based circles and among crypto enthusiasts.
Biggs’s latest vision involving Musk and XRPIn a new video that circulated widely after crypto commentator XRP Update posted it on X (formerly Twitter), Biggs describes his vision in which Elon Musk, CEO of Tesla and owner of X, plays a central role. He recounts observing Musk with what he calls a significant expansion of wisdom and cognitive capacity, likening it symbolically to “Adam in the Garden” and emphasizing the degree of mental openness in his depiction.
Expanding on his vision, Biggs describes an encounter involving Musk and an owl, which he associates with demonic symbolism. He details the owl as landing on Musk’s shoulder, wearing a wizard hat adorned with a star, and accompanied by images of black webs and spiders. Biggs also shared an AI-generated visualization of this moment to illustrate what he saw.
Biggs clarifies that the black suit and tie worn by Musk in his vision contrasted starkly with a “blinding” white shirt, highlighting what he describes as a symbolic portrayal of opposing forces.
Mini dictionary: Brandon Biggs is an Oklahoma pastor who has attracted attention in the digital asset sector due to his public spiritual visions, several of which have featured XRP or cryptocurrency themes.
Symbolic crossing of X and XRPA segment of Biggs’s vision connecting the X platform (formerly Twitter, acquired by Elon Musk) and the cryptocurrency XRP has drawn particular interest. According to Biggs, he saw the symbols for X and XRP intersect, producing a new combined image “over a moon,” which he likens to the Batman symbol. He displayed an illustration meant to capture this imagery for viewers.
Biggs repeatedly distances himself from literal interpretations of his visions, stating, “I’m not saying they will merge,” and emphasizing that his experience is symbolic. He notes that some have taken his statements out of context in the past, particularly regarding potential partnerships or asset price predictions.
Biggs emphasizes his views should not be considered investment guidance, explaining that the vision is not intended as financial advice but rather as a spiritual impression.
Perspectives on technology, Starlink, and societal transformationBeyond financial or symbolic connections, Biggs links Musk’s activities to broader technological trends. He claims to have seen an “acceleration of tech” around Musk, highlighting Starlink—a global satellite internet service developed by SpaceX—as an important infrastructure for future communications and tracking. Biggs predicts scenarios in which mobile connectivity may extend beyond phones to wearable devices such as rings or bracelets, ultimately leading to embedded chips. He compares this technological evolution to Neuralink, another Musk-founded company developing brain-computer interfaces.
Mini dictionary: Starlink is a satellite-based internet network launched by SpaceX to provide broadband coverage around the world, significantly affecting communications infrastructure in both developed and underserved regions.
He references prior spiritual motifs including Rosh Hashanah and the emergence of what he refers to as “the beast system.” Biggs says he witnessed a “parting of the black sea,” which he connects to a wider narrative about the progress of this technological system.
Within the XRP community, Biggs remains a polarizing figure due to his predictions about the asset serving as a “pillar of the new financial system.” He makes clear that, in his interpretation, Elon Musk is not depicted as the Antichrist. Instead, he refers to Musk as “the funder,” a facilitator behind the development of a new system.
US-based Cross River Bank has taken steps to integrate RLUSD, the stablecoin developed by Ripple, into its infrastructure.
US-based Cross River Bank announced it has partnered with Ripple to integrate Ripple’s dollar-backed stablecoin RLUSD into its banking infrastructure. The collaboration, announced today, also includes transactions on the XRP Ledger.
RLUSD will be included as an additional option to traditional payment methods within the bank’s Core Operating System. Cross River customers will be able to access stablecoin payments via a single API connection without needing to set up a separate blockchain infrastructure.
The bank stated that the integration aims to support 24/7 switching between US dollars and RLUSD, cross-border payments, and corporate treasury transfers. ACH, bank transfer, and real-time payment services will also be available on the same platform.
According to Cross River, transactions on the XRP Ledger can be completed in approximately three to five seconds. The bank aims to expand intraday settlement options for payment networks and reduce transaction delays with this infrastructure.
*This is not investment advice.
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