‍Bitcoin Faces Turmoil After $20B Liquidation, Deeper Correction Expected The crypto market is experiencing significant volatility following a record $20 billion liquidation event, heavily impacting long positions. Bitcoin struggles near the $110,000 support level, failing to rebound from multi-week lows. Analysts suggest this "crypto cleanse" may just be starting, with further downside possible towards $100,000. Macroeconomic concerns, including the US-China trade war, add to the market's nervousness.
‍SEC Chair Aims to Future-Proof Crypto Regulations SEC Chair Paul Atkins is moving swiftly to establish crypto market policies that can withstand political shifts. His goal is to create lasting frameworks before potential changes in presidential administrations or his tenure. Atkins emphasized a "can-do spirit" among regulators to implement rules that remove or weaken existing regulations, fostering market clarity and growth. However, concerns remain about whether these crypto-friendly advancements can survive a change in leadership. Experts suggest that while a new SEC chair cannot unilaterally reverse rules, they could shift priorities back to enforcement and, with a commission vote, reverse official policies. A market structure bill in the Senate could offer further protection against future reversals.
‍Aster Airdrop Delayed Due to Data Inconsistencies Decentralized perpetuals exchange Aster has postponed its airdrop distribution from October 14 to October 20. This decision follows widespread user complaints regarding "potential data inconsistencies affecting certain users’ ASTER allocation." Aster, a multi-chain DEX with backing from YZi Labs, is recalibrating its complex allocation system. The airdrop rewards consider trading volume, holding duration, assets, P&L, and referrals. Despite the delay, the ASTER token saw a nearly 3% increase, reaching a market cap near $3 billion. The exchange emphasizes its commitment to fair distribution and user trust.
‍Institutional Investors Fuel Crypto Transformation The cryptocurrency market is experiencing a significant shift, with major institutional players increasing their involvement. Key areas of focus include Bitcoin as a treasury asset and inflation hedge, decentralized prediction markets, stablecoin-powered payments, and the tokenization of real-world assets (RWAs). Strategy's Bitcoin treasury, now exceeding $80 billion, rivals tech giants. The Intercontinental Exchange (ICE) invested $2 billion in prediction platform Polymarket. Rezolve AI acquired Smartpay, which processed over $1 billion in USDT transactions. Plume Network's RWA tokenization efforts are integrating with SEC regulations. This institutional surge signals a blurring of lines between traditional and decentralized finance.
‍Texas Establishes Bitcoin Reserve, Considers Ether Texas has enacted landmark legislation creating a state Bitcoin reserve, with Ether (ETH) being a potential future addition. The law requires cryptocurrencies to maintain an average market capitalization of at least $500 billion over 24 months to qualify. While Bitcoin easily meets this, Ether's inclusion depends on sustained market performance. Texas's approach differs from other states, directly allocating taxpayer funds for the reserve. The state comptroller is now selecting regulated custodians for the holdings, signaling a growing acceptance of digital assets by governments.
‍Securitize Eyes $1 Billion SPAC Deal for Public Debut Leading tokenization platform Securitize is reportedly in advanced discussions to go public via a SPAC merger with Cantor Fitzgerald's Cantor Equity Partners II Inc. This deal could value Securitize at over $1 billion, underscoring institutional confidence in the tokenization sector and Real-World Assets (RWAs). The move highlights the accelerating interest in on-chain finance, with over $33 billion in RWAs already tokenized. Major financial institutions like BNY Mellon and Goldman Sachs are also deepening their involvement in tokenization, signaling rapid adoption of blockchain technology in traditional finance.
‍$21 Million Lost: Hyperliquid Hack Highlights Private Key Vulnerability A user of the decentralized exchange Hyperliquid lost $21 million due to a compromised private key. This incident underscores the critical importance of personal security for digital assets. Blockchain analytics firm PeckShield confirmed the breach, noting the attacker siphoned off $21 million, primarily in DAI stablecoins, which were then bridged to Ethereum. Experts attribute the loss to a private key leak, not a smart contract exploit. To safeguard assets, users are advised to utilize hardware wallets, avoid online input of private keys or seed phrases, secure offline backups, and be wary of phishing and malware. The ultimate responsibility for securing digital assets rests with the user.
‍Nobel Peace Prize Winner Endorses Bitcoin as a "Lifeline" for Democracy Venezuelan opposition leader and 2025 Nobel Peace Prize laureate María Corina Machado has highlighted Bitcoin (BTC) as a crucial tool for empowering individuals in environments with strict financial controls and hyperinflation. Machado described Bitcoin as a "pro-freedom technology," essential for safeguarding property rights and fostering economic opportunities. She noted its importance in challenging state monopolies on power and aiding political opposition movements. Decentralized, peer-to-peer Bitcoin transactions offer resistance to confiscation, as demonstrated during the 2022 Canadian trucker protests where funds sent via decentralized methods remained secure. This recognition underscores Bitcoin's growing role in promoting human rights and economic self-determination globally.
‍UK Investment Giant Warns Against Bitcoin, Global Players Embrace Crypto Hargreaves Lansdown, managing £170 billion, advises investors to "stay away from Bitcoin," citing its lack of intrinsic value and high volatility. The firm considers it too risky for typical portfolios. This contrasts sharply with global players like BlackRock, whose CEO now calls Bitcoin a "legit financial instrument" with "uncorrelated returns," especially after their successful Bitcoin ETF launch. Hedge fund titan Ray Dalio suggests allocating up to 15% to gold and Bitcoin as macroeconomic hedges. Despite skepticism from some, like JPM CEO Jamie Dimon, the varied institutional responses highlight Bitcoin's evolving role in the investment landscape.
‍Nobel Peace Prize Winner Odds Surge on Polymarket Amid Insider Trading Allegations The Nobel Peace Prize is under scrutiny following unusual activity on the crypto prediction market, Polymarket. Odds for Venezuelan leader Maria Corina Machado reportedly surged from near-zero to over 70% hours before the official announcement. Organizers are investigating potential insider trading. A new account placed significant bets, ultimately redeeming $80,000. Polymarket's terms prioritize market accuracy and do not explicitly restrict the use of insider information. This incident sparks debate on information ethics in decentralized finance.