Good Morning,

Here's a quick preview of today’s content: 'Bitcoin Jesus' Roger Ver agrees to pay $48M to end his tax fraud case, 21 crypto ETFs filed in the first eight days of October, English man gets prison time after spending Covid loan on crypto, Senate Banking Committee moves ahead with market structure bill amid shutdown, Coinbase integrates DEX trading for US users, and so much more

It’s finally Friday - Let’s dive in.

Market Snapshot

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• BTC briefly slumped below $120,000, alongside flat-to-negative action in the European equity markets and persistent strength in the US dollar

  • BlackRock's IBIT ETF reaches 800,000 BTC AUM, 3.8% of Bitcoin's total supply

  • Crypto ETPs attract $48.67B this year, exceeding the full-year total for 2024

  • BNB fell -2% to $1,270 amid a trading volume spike, as BNB Chain memecoins unwind

• This comes alongside declines for gold and silver from record levels after a volatile and bullish start to October

Market Predictions

• Bettors on Kalshi are predicting who will launch a coin this year?

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Headline Roundup
^{_{The major headlines driving crypto markets}}

• 'Bitcoin Jesus' Roger Ver agrees to pay $48M to end US tax fraud case (DC)

• State Street says 60% of institutional investors plan to increase crypto allocations within a year (CD)

• Luxembourg’s sovereign wealth fund invests 1% of its holdings in Bitcoin (CD)

• JPMorgan expects Solana ETFs to see $1.5B in first-year inflows (CD)

• 21 crypto ETFs filed in the first eight days of October (CT)

• DeFi TVL reaches a record $237B in Q3 2025 (CT)

• Bitwise and 21Shares add staking to ETF filings with the SEC (CS)

• S&P gives AA+ rating for OpenEden as the standard for tokenized treasuries (CS)

• Bybit obtains license to offer trading in the UAE (CD)

• BNB-based memecoins plummet after CZ says tweets are 'not endorsement' (TB)

• Citi initiates coverage of crypto exchange OSL (CD)

• Decentralized exchanges register $1.43T in spot volume during Q3 (CS)

• BNB Smart Chain users consume 5T gas units in a single day (TD)

• Bitwise sets 0.20% fee on its Solana ETF (CT)

• Two Prime issues $827M in Bitcoin-backed loans in Q3 (CD)

• Sharps Technology expands Solana treasury through partnership with Coinbase Global (BW)

• BTCC exchange surpasses 10.16M users and $1.15T in trading volume (CD)

• Ocean Protocol withdraws from AI token alliance, citing the need to secure independent tokenomics (TB)

• Crypto treasury company Safety Shot Inc. rebrands to Bonk, Inc (DC)

• ShapeShift reintroduces support for Zcash’s shielded transactions (CT)

Venture Capital

• QumulusAI, a cloud infrastructure company, secures a $500M credit facility arranged by Permian Labs (CD)

• CipherOwl, a crypto compliance startup, raises $15M in seed funding led by General Catalyst, Flourish Ventures, and more (BW)

• Crypto startup Block Street raises $11.5M led by Hack VC, Generative Venture, DWF Labs, and others (CD)

• Fanable, a Web3 marketplace, receives $11.5M in backing to accelerate growth from Michael Rubin, Ripple, Steel Perlot, and others (CD)

• Venture arm of Citigroup makes a strategic investment in stablecoin payments platform BVNK (CD)

M&A Announcements

• PayPay acquires 40% equity stake in Binance Japan to integrate cashless payments with crypto access (CD)

• Investment advisory firm, Sound Advisory, merges with Bitcoin-native Gannett Trust Company to form a crypto wealth management platform (BM)

• Coinbase and Mastercard hold advanced talks to acquire London-based BVNK, a London-based fintech (CD)

Launches

• Coinbase integrates DEX trading for US users on Base network (TB)

• Kraken expands CME derivatives access to oil, gold and FX (BW)

• Uganda launches a central bank digital currency pilot (CT)

• Ethereum Layer 2 network Zora listed on Robinhood (TD)

• Ripple expands in the Middle East to integrate blockchain and stablecoin infrastructure (CD)

• Peru’s largest bank launches a pilot crypto platform (CT)

• Ethereum Foundation launches new cluster focused on privacy (DC)

• Swiss crypto bank AMINA offers regulated staking for Polygon’s POL token (CD)

• Monad’s token airdrop to take place next week (CD)

• Crypto firm Neverless introduces a leveraged Bitcoin accumulation plan (CD)

• Decentralized protocol Farcaster adds support for BNB Chain (TB)

• Matter Labs unveils Atlas upgrade to provide faster settlements (TB)

• America.Fun, an ecosystem on Solana, officially launches (CD)

• Integra, a digital infrastructure, introduced at Token2049 Singapore (CD)

• Stablecoin wallet provider MIniPay unveils new payment features (DC)

• Yuma, a studio for deAI network, introduces Yuman Asset Management (CD)

Regulation

• Senate Banking Committee to move ahead with a market structure bill markup amid shutdown (BW)

• Democrat Senators pitch a counter-proposal that places risky DeFi protocols on a ‘restricted list’ (CT)

• Block founder Jack Dorsey calls for federal tax exemption on Bitcoin transactions (DC)

• UK government to appoint ‘digital markets champion’ to lead tokenization efforts (TB)

• Nevada judge denies Crypto.com's request to block state gaming regulations (DC)

• Bank of France calls on EU to give its markets regulator supervision over major crypto firms (CT)

• Bill to establish a Bitcoin reserve in Massachusetts receives a lukewarm response (CT)

• Afghanistan internet blackout ’a wake-up call’ for blockchain decentralization (CT)

• Japan’s new PM may open the door for more “refined” regulations to boost crypto economy (CT)

Cybersecurity

• Chainalysis estimates that crypto balances linked to illicit activity exceed $75B (CT)

• English man gets prison time after spending Covid loan on crypto and gambling (DC)

• A crypto trader in Tel Aviv is stabbed during a robbery that nets thieves $600k in crypto (DC)

Extra Reads

• Tokens can be highly lucrative, giving you early exposure to the hottest new projects and capturing all the upside as they grow, it’s why competition is so intense - Here’s why intent-based launchpads could reshape the future of token distribution

• DEX wars are heating up as Hyperliquid, Aster and Lighter battle for dominance, but lasting success depends on tech, not token perks - Here’s how these DEXs are competing for the next era of onchain trading

Chart of the Day

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