XRP experienced a dramatic collapse of up to 42% in a single day, marking its sharpest drop in recent years. The price plummeted from $2.82 to a low of $1.64 before partially recovering to $2.36, driven by significant whale liquidations and a $150 million drop in futures open interest. This sell-off was exacerbated by macroeconomic pressures, including heightened regulatory risks following Ripple's National Trust charter deadline. Despite the turmoil, long-term holders appear to be accumulating XRP below $2.40, indicating potential value-based repositioning.
Galaxy Digital secured a $460 million investment from a large asset manager, aimed at bolstering its data center business. This funding will support the expansion of its Helios data center, which is transitioning from mining operations to AI and high-performance computing. Meanwhile, Prestige Wealth raised $150 million to establish a treasury focused on Tether Gold (XAUT), with plans to acquire tokenized gold reserves. This move highlights a growing trend of institutional interest in digital assets backed by real-world value, further diversifying the crypto investment landscape.
The crypto market faced a significant downturn, with over $16 billion in long positions liquidated following President Trump's tariff threats against China. Bitcoin fell below $110,000, while Ethereum dropped 16% to below $3,700, leading to one of the largest liquidation events seen this year. Additionally, XRP, Solana, and other altcoins experienced declines of 20%-30%. The market's total capitalization dropped to $3.87 trillion, reflecting widespread panic and forced selling across major exchanges.
The recent market chaos underscores the fragility of crypto assets in response to macroeconomic events. With ongoing regulatory scrutiny and geopolitical tensions, traders are advised to remain cautious as volatility is expected to persist. As institutional players navigate these challenges, the focus will likely shift towards regulatory clarity and the potential for new investment vehicles, such as ETFs, to stabilize the market. The current environment may present both risks and opportunities for savvy investors.
A tightening U.S. power grid is driving bitcoin (BTC) miners and AI developers into closer alignment, according to Wall Street broker Bernstein. Miners now control more than 14 gigawatts (GW) of capacity and offer AI providers a shortcut to scale. Bernstein named IREN its top pick, with an outperform rating and a $75 price target.
IREN was 5.7% higher in early trading Friday, around $67.50.
Bitcoin (BTC) miners are extending gains in pre-market trading, particularly benefiting those pivoting their operations toward AI infrastructure. IREN is up 4% at $66 after a 6% rise on Thursday, now up more than 520% year-to-date. The total market capitalization of the miners is nearing $90 billion, according to Farside data.
Metaplanet (MTPLF) has announced it will suspend the exercise of its 20th to 22nd series of stock acquisition rights from Oct. 20 to Nov. 17. The company holds 30,823 BTC and ranks as the fourth largest corporate bitcoin holder globally.
This suspension is a strategic move to manage capital formation amid evolving market conditions.
Kalshi, the CFTC-regulated event-trading platform, has raised $300 million at a $5 billion valuation.
The cryptocurrency market has recently faced significant turmoil, highlighted by a staggering $16 billion in liquidations, marking the largest event of its kind. Major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL), experienced sharp declines, with altcoins crashing between 20% to 40%. Analysts suggest that the recovery from such a crash is likely to be gradual, as market makers pause to manage risk and stabilize data feeds before any potential rebound occurs. This situation has left many bullish investors anxious as they await signs of market recovery.
Recent comments from U.S. President Donald Trump regarding increased tariffs on Chinese goods have sent Bitcoin tumbling below $119,000, down from a recent high of $126,080. This decline was mirrored across the crypto market, with Ethereum and Solana also experiencing significant drops of nearly 8% and over 7%, respectively. The market's reaction to these geopolitical tensions has resulted in over $1 billion in liquidations within a 24-hour period, showcasing the fragility of current market conditions amidst external pressures.
Despite the current downturn, some analysts maintain a bullish outlook for Bitcoin, suggesting that the next major rally could be on the horizon as institutional interest grows and supply tightens. The market's resilience is being tested, but there are indications that buying opportunities may emerge at lower price levels. Additionally, XRP's performance remains noteworthy, as it has appreciated significantly over the past year, positioning itself for potential future gains, especially with anticipated ETF approvals and favorable regulatory developments.
A user on the decentralized trading platform Hyperliquid lost approximately $21 million in crypto assets due to a private key leak. The stolen assets included around 17.75 million DAI and 3.11 million MSYRUPUSDP. Following the theft, the hacker bridged the stolen funds to Ethereum, utilizing a series of transactions across multiple addresses to obscure the trail and complicate recovery efforts. This incident underscores the ongoing vulnerabilities associated with private key exposure in decentralized systems, highlighting the importance of operational security and hardware wallet protection for users in the self-custody era.
Bitget, the largest Universal Exchange (UEX), reported significant growth in its Q3 2025 Transparency Report, marking the introduction of a next-generation trading model that integrates spot, futures, staking, payments, and on-chain access. The exchange expanded its ecosystem to include major blockchains such as Ethereum, Solana, BSC, and Base, achieving over $113 million in daily trading volume. This development indicates a strong user growth and a commitment to financial transparency within the platform.
The Ethereum Foundation and Keyring Network have initiated fundraising efforts to support Tornado Cash developers Roman Storm and Alexey Pertsev, who are facing legal battles. The first three months of fees from zkVerified permissioned vaults on the Ethereum mainnet will be allocated to their legal defense. This initiative emphasizes the importance of privacy in the blockchain space and aims to protect open-source developers from legal repercussions associated with their work.
BNB, the native token of the BNB Chain, has experienced a 129% increase over the past year, driven by renewed momentum in the ecosystem. The recent surge in BNB's price has led to significant inflows, with $14.8 billion recorded last quarter. This growth has sparked increased on-chain activity, particularly in sectors benefiting from liquidity programs and gas-fee cuts. Analysts suggest that the current market phase prioritizes distribution over technology, indicating a shift in how investments are flowing within the BNB ecosystem.
Bitcoin's price has shown increased volatility, trading around $121,400 after a drop from $123,000. This fluctuation is attributed to market expectations of a 25 basis point rate cut by the Federal Reserve, with a 91% chance priced in for the upcoming meeting. The spike in implied volatilities across various expiries suggests that traders are bracing for significant price movements in the near future.
Morgan Stanley is set to broaden its crypto offerings, enabling all wealth management clients to invest in digital assets starting October 15, 2025. This policy shift allows clients to trade Bitcoin, Ethereum, and Solana through any account type, including retirement accounts, removing previous restrictions that limited access to high-net-worth individuals with at least $1.5 million in investable assets. The bank's CEO noted ongoing collaboration with regulators to ensure safe crypto offerings, highlighting a significant shift in Wall Street's approach to digital assets.
The Bank of England is considering exemptions for large firms from its proposed £10 million ($13.3 million) limit on stablecoin holdings, which would still apply to individual investors, who would face a cap of £10,000 to £20,000 ($13,300 to $26,600). This potential regulatory framework has been met with skepticism from the UK crypto industry, which argues that such caps are impractical and could hinder the sector's growth.
The U.S. Securities and Exchange Commission (SEC) is finalizing an "innovation exemption" framework aimed at supporting blockchain startups operating within the country. This initiative, expected to be finalized by the end of 2025, would create a regulated environment allowing firms to test new products with limited oversight, addressing concerns about enforcement risks that have led many to relocate abroad. This move is seen as a response to increasing international competition in the digital asset space.
A consortium of major banks, including Bank of America, Citi, and Goldman Sachs, is exploring the creation of a stablecoin pegged to G7 currencies. This initiative reflects a growing interest among traditional financial institutions to enter the digital currency space, which has been predominantly occupied by crypto-native firms like Tether and Circle. The collaboration aims to establish a "1:1 reserve-backed form of digital money," signaling a significant shift towards integrating stablecoins into mainstream finance.
The crypto market experienced a significant sell-off, shedding approximately $125 billion in value following U.S. President Donald Trump's threats of increased tariffs on China. This geopolitical tension has raised concerns about potential trade wars, leading to a wave of liquidations in the crypto sector, amounting to around $700 million. Such macroeconomic factors continue to influence investor sentiment and market stability.
Binance founder Changpeng “CZ” Zhao revealed that he was the target of a hacking attempt linked to government-sponsored actors, specifically mentioning North Korea’s Lazarus Group. Zhao stated he received an alert from Google warning that “government-backed attackers” had tried to steal his password on October 10, 2025. He shared a screenshot of the notice on X, expressing his concerns about the incident.
Chainalysis reported that criminals and their downstream networks hold $75 billion in crypto assets obtained through illicit means as of July 2025. The report highlighted that illicit entity balances of BTC, ETH, and stablecoins have reached nearly $15 billion, while wallets downstream from these entities hold over $60 billion.
A Hyperliquid user lost about $21 million after a private key leak, with the attacker bridging stolen funds to Ethereum shortly after, according to on-chain data. This incident raises concerns about DeFi security and user vigilance amid growing decentralized exchange activity.
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