Elon Musk has recently expressed renewed support for Bitcoin, labeling it as "energy-based" and "inflation-proof." This marks a significant shift from his previous criticisms regarding Bitcoin's energy consumption, which led Tesla to halt BTC payments in 2021. Following Musk's comments, Bitcoin's price surged toward $111,000, reflecting improved investor sentiment and confidence in the cryptocurrency's long-term viability. Musk's endorsement comes at a time when Bitcoin is facing critical market dynamics, including a recent drop from a peak of $126,000. His remarks have reignited discussions about Bitcoin's role as a hedge against inflation, especially amid rising global economic uncertainties.
Public companies have significantly increased their Bitcoin holdings, with a 40% surge in the third quarter of 2025. These companies now collectively hold over 1.02 million BTC, valued at approximately $117 billion. This trend indicates a growing institutional interest in Bitcoin as a treasury asset, driven by favorable regulatory environments and long-term strategic planning. Additionally, BlackRock has reported record inflows into its crypto ETFs, underscoring the rising demand for institutional exposure to Bitcoin and Ethereum.
This influx of capital highlights a broader trend of institutional adoption, as firms seek to integrate digital assets into their portfolios.
Bitcoin is currently testing a critical support level around $110,000, following a significant market sell-off that wiped out approximately $500 billion in total crypto market capitalization. The recent downturn has been exacerbated by $755 million in outflows from crypto ETFs, indicating a shift in investor sentiment as many short-term holders add selling pressure. In contrast, Ethereum ETFs experienced their largest single-day outflow in five weeks, with $428.5 million exiting on October 13. This trend of outflows suggests that investors are repositioning their portfolios amid heightened market volatility and uncertainty.
The recent developments in Bitcoin and Ethereum markets reflect a complex interplay of institutional demand and investor sentiment. With major companies increasing their Bitcoin holdings and BlackRock's ETFs attracting significant inflows, the foundation for a potential market recovery appears to be forming. However, the substantial outflows from ETFs and the testing of key support levels indicate that caution is warranted. As the market navigates these challenges, the outlook for Bitcoin and other cryptocurrencies will depend on how effectively they can maintain support and attract further institutional interest.
The wind-down of defunct crypto lender Celsius coughed up almost $300 million from Tether, according to a Tuesday statement from an entity set up by GXD Labs and VanEck, the Blockchain Recovery Investment Consortium. GXD Labs, a subsidiary of Atlas Grove Partners, and asset manager VanEck established BRIC.
Former Aptos Labs CEO Mo Shaikh and other early Aptos employees are launching a new $50 million crypto venture fund.
Coinbase said it is investing in Indian crypto exchange CoinDCX to scale its presence in India and the Middle East.
In response to a recent $19 billion liquidation event that impacted the crypto market, Binance has launched the "Together Initiative," allocating an additional $400 million to assist traders affected by the downturn. This initiative is part of a broader effort, with partners in the BNB ecosystem contributing an extra $328 million, bringing the total compensation earmarked for users to over $700 million. Despite this support, BNB has experienced a decline of approximately 4.4% in the last 24 hours after reaching a new all-time high earlier this week.
Despite the broader market's struggles, Binance Coin (BNB) has shown remarkable resilience, hitting an all-time high of $1,370 during recent trading sessions. This surge is attributed to a significant increase in transaction volume on the BNB Chain, which processed over 500 million transactions in the past month, a 151% increase month-over-month. Analysts suggest that the ongoing popularity of meme coins on the BNB Chain, coupled with strong investor confidence, could sustain BNB's upward trajectory, with potential targets set as high as $1,650.
The recent volatility in the crypto market has been exacerbated by external economic factors, including the announcement of 100% tariffs on Chinese imports by former President Trump, which has led to significant sell-offs across both traditional and crypto markets. Bitcoin has seen a drop to around $111,000, testing critical support levels, while the overall crypto market cap has decreased by $111 billion in just 24 hours. This environment has prompted discussions about potential recovery phases and the possibility of a bullish market reset as traders recalibrate their positions.
Monad has opened an eligibility checker and early claim portal for its upcoming MON token airdrop, which will remain accessible until November 3, 2025. This initiative is part of Monad's strategy to establish itself as a competitive layer-1 blockchain network, aiming to rival both Solana and Ethereum. The airdrop is expected to engage users from both ecosystems, enhancing community participation ahead of the official token distribution.
S&P Global Ratings has partnered with Chainlink to provide real-time stablecoin stability assessments directly on blockchains. This integration will enable decentralized finance protocols and smart contracts to access S&P’s risk evaluations, enhancing transparency and risk management within the crypto ecosystem.
The wind-down process of the defunct crypto lender Celsius has successfully secured nearly $300 million from Tether. This funding is part of a broader effort by GXD Labs and VanEck, through the Blockchain Recovery Investment Consortium, to recover assets and facilitate the restructuring of Celsius's operations.
Tether has agreed to a $299.5 million settlement to resolve claims from the Celsius Network bankruptcy estate, significantly lower than the nearly $4.5 billion in Bitcoin originally sought by Celsius. This settlement concludes a year-long legal battle over allegations that Tether improperly liquidated Bitcoin before Celsius's bankruptcy in 2022. Legal experts suggest this outcome may spark discussions regarding the accountability of stablecoin issuers in future bankruptcy cases, particularly as the stablecoin sector faces increased scrutiny and regulatory pressures.
The U.S. authorities have executed a significant seizure of $14 billion in Bitcoin as part of a crackdown on global scam operations, particularly those linked to forced labor and the notorious "pig butchering" schemes in Cambodia. This action represents the largest Bitcoin seizure to date and highlights ongoing efforts by the U.S. government to combat cryptocurrency-related fraud.
Should the alleged ringleader be convicted, the government plans to add these assets to its crypto reserves, indicating a strategic move to bolster its holdings in digital currencies.
Roger Ver, known as "Bitcoin Jesus," has settled a tax case with the U.S. Department of Justice, admitting to willfully failing to disclose his Bitcoin holdings when renouncing his U.S. citizenship in 2014. Ver has agreed to pay nearly $50 million in back taxes and penalties, which has led the DOJ to drop its indictment against him.
This case underscores the increasing scrutiny of cryptocurrency holdings by tax authorities and the potential legal ramifications for individuals failing to comply with tax regulations.
Stripe's Bridge, a stablecoin infrastructure company, has applied for a national bank trust charter with the U.S. Office of the Comptroller of the Currency (OCC). If approved, this move would place the firm under federal regulatory oversight, reflecting a trend of increased regulatory engagement in the stablecoin sector. This application signals Stripe's intent to expand its stablecoin business while adhering to regulatory frameworks, which could set a precedent for other companies in the digital asset space.
Market expectations for a U.S. Federal Reserve rate cut have surged, with probabilities reaching 94% according to Polymarket and 95.7% via CME’s FedWatch tool. Despite these dovish signals from Fed Chair Jerome Powell, the crypto market has shown bearish trends, with Bitcoin dipping below $112,000. This disconnect highlights the ongoing volatility in the crypto space, which remains sensitive to broader economic indicators and monetary policy shifts.
The United States announced that it is seeking the forfeiture of 127,271 Bitcoin, currently worth over $14.2 billion, in the largest such forfeiture action in the history of the Department of Justice. The civil forfeiture complaint was filed against Chen Zhi, the founder and chairman of Prince Holding Group, who allegedly ran a "pig butchering" scam that stole billions of dollars from victims in the United States and around the world. The DOJ already has the Bitcoin in custody.
The seizure of Bitcoin linked to a large-scale crypto scam network has caused the US government's Bitcoin holdings to balloon to $36 billion. The accused is said to have forced people to work in Cambodian compounds as part of this scam.
U.S. authorities are pushing to seize more than 127,000 Bitcoin, with several wallets at issue labeled by Arkham Intelligence as tied to the “Lubian.com Hacker,” previously connected to the Milky Sad weak-key incident.
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