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Bitcoin Whale Makes Massive $36 Million Ethereum Bet

An enigmatic Bitcoin whale has just taken a huge $36 million bet on Ethereum by dumping hundreds of BTC to gobble up thousands of ETH as Ethereum, the second-largest crypto, attempts to rebound amid rising derivatives market activity.　　Blockchain data tracker Lookonchain revealed that an anonymous investor dumped 410.14 BTC (worth around $34.16 million) on decentralized trading protocol Hyperliquid.　　In a subsequent move, the whale bought 14,341 ETH, which is worth around $36.14M, via decentralized exchanges (DEXs).　　The identity of the whale and the motive behind the moves remain unknown.　　The on-chain data indicated multiple transfers of UBTC (tokenized Bitcoin) from Hyperunit to the addresses of the whale.　　Also, one of the addresses received 874,576 USDC via Hyperliquids Bridge2 contract.　　As for Ethereum, the whale-related addresses received hefty amounts of ETH via decentralized trading platforms.　　For instance, approximately 865.07 ETH worth $2.2M was received from Uniswaps V2DutchOrderReactor contract.　　Another wallet address received 827.23 ETH, worth around $2.1M, from the same contract.　　Ethereum price showing signs of outperformance vs. Bitcoin in the past 24 hours　　These fresh purchases come as Ethereum is showing signs of outperforming Bitcoin in the past 24 hours.　　Ethereums price is currently hovering near $2,553, up by around 1.85% at the time of writing.　　In comparison, the Bitcoin price

22 hours agoIndustry

XRP rebounded as Binance spot turnover fell nearly 80%

XRP futures exposure began rebuilding by October 11 after market-data provider XRPL.to recorded $40.70 million in long liquidations across Binance, Bybit and OKX during October 7–8 in its streamed sample. XRP traded near $1.40 at the October 11 snapshot.　　Related Asset XRP #5 XRP · $1.41 24-hour change: up 1.56% Loading price history… 24H Up 1.56% 7D Down 6.89% 30D Up 3.54%　　Binance and Bybit each had less outstanding futures exposure measured in XRP at midnight on October 11 than at midnight on October 8, even after both books expanded over the preceding day. Meanwhile, Binance spot trading slowed during the price rebound, leaving the recovery without clear evidence of sustained buying on that venue.　　XRPL.to collected $40.70 million of long liquidations and $1.72 million of short liquidations across Binance, Bybit and OKX during the two completed UTC days of October 7 and 8. Those figures come from its streamed liquidation sample, which records forced closures reported by the three exchanges.　　Related Company Binance Global crypto exchange　　Binance accounted for $24.69 million of the sampled long liquidations, followed by Bybit at $11.65 million and OKX at $4.36 million. The imbalance shows that forced closures in the collected stream fell overwhelmingly on positions exposed to rising

22 hours agoIndustry

Global watchdog flags stablecoin risks, AI threats ahead of G20

The Financial Stability Board (FSB), a global financial watchdog, has outlined financial stability risks associated with artificial intelligence and regulatory concerns surrounding stablecoins.　　In a letter published Monday, FSB Chair Andrew Bailey warned that cross-border mechanisms for stablecoin oversight and crisis management “remain immature or are not yet developed.” In its 2025 review, the FSB found that 11 of 28 surveyed jurisdictions had finalized stablecoin regulatory frameworks.　　He also urged G20 members to support the FSBs newly finalized practices for responsible AI adoption in the financial sector.　　“AI therefore requires our continued close attention alongside careful management by financial institutions,” Bailey wrote.　　The FSB submitted the letter to Group of Twenty (G20) finance ministers and central bank governors ahead of their Thursday meeting. The G20 brings together the worlds major economies to coordinate financial policy and regulatory priorities.　　Stablecoin risks extend to traditional financial markets　　In a report accompanying the letter, the FSB warned that stablecoin runs could spill into traditional markets through forced sales of reserve assets and withdrawals of bank deposits. The watchdog also identified risks for multi-issuer stablecoins where redemption demand could concentrate on one issuer while reserves are held in different jurisdictions.　　These concerns echo what regulators have previously raised. In 2025, European

23 hours agoIndustry

Jeonbuk Bank becomes first South Korean lender to offer Bitcoin backed loans

South Korea‘s Jeonbuk Bank has introduced the country’s first bank issued won loans backed by Bitcoin, allowing corporate customers to use their cryptocurrency holdings as collateral for business financing.　　According to an October 12 report by local news outlet Edaily, the lender, a subsidiary of JB Financial Group, has started offering the service on a limited basis, with Bitcoin currently the only digital asset accepted as collateral.　　The loans are restricted to corporate borrowers seeking funds for business operations. Jeonbuk Bank plans to review possible changes to the service based on regulatory developments and customer demand.　　Under the arrangement, customers pledge Bitcoin held by a specialist digital asset custodian, while the bank provides financing in Korean won without taking direct ownership or control of the cryptocurrency.　　The bank has structured the product to operate under South Koreas existing banking and digital asset rules, including newly introduced procedures for enforcing claims against cryptocurrency collateral.　　Jeonbuk Bank uses third party custody for Bitcoin loans　　Jeonbuk Bank selected Bitcoin after reviewing its liquidity, market size and suitability for collateral valuation.　　The bank considered Bitcoins position as the largest cryptocurrency by market capitalization and trading volume, which it said provides more reliable market prices and benchmarks than those available for smaller

23 hours agoIndustry

Pando Finance to launch Hong Kong's second spot Solana ETF on October 13

Pando Finance Limited has announced plans to list its spot Solana exchange traded fund on the Hong Kong Stock Exchange on October 13, becoming the citys second investment product offering direct exposure to SOL.　　SummaryPando‘s spot Solana ETF is expected to list in Hong Kong on October 13, becoming the city’s second fund offering direct exposure to SOL.Subscriptions run from October 6 to 12, with shares priced between HK$7.80 and HK$8 and a minimum trading lot of 100 shares.The fund will charge a 0.6% annual management fee, compared with 0.99% for ChinaAMCs existing Solana ETF.HashKey Exchange will handle SOL transactions, while HashKey Custody Services will safeguard the assets. The fund will not use staking, derivatives or leverage.　　According to the funds subscription details, the Pando Solana ETF (02831) is accepting applications from October 6 through October 12, with an indicative issue price of HK7.80toHK8 per share.　　Investors can subscribe in lots of 100 shares, bringing the minimum entry cost to approximately HK$800 before brokerage charges and other applicable fees.　　Although the fund uses the US dollar as its base currency, its shares will trade in Hong Kong dollars on the local exchange.　　Pando has set an annual management fee of 0.6%, while its estimated annual

23 hours agoIndustry

Bank of Korea won't issue stablecoins: Here's why

The Bank of Korea has ruled out directly operating stablecoin businesses, with Governor Hyun Song Shin telling lawmakers on October 12 that private companies should handle their issuance and operations while the central bank continues developing its institutional digital currency system.　　During a parliamentary audit held at the Bank of Korea headquarters in Seoul, Shin said private businesses were the appropriate operators of stablecoins, while the central bank would continue providing input on monetary stability and payment systems. The governor made the remarks while responding to questions from independent lawmaker Lee Jun-seok about stablecoins, bank deposit tokens and central bank digital currencies (CBDCs). He distinguished privately operated stablecoins from Project Hangang, the central banks ongoing initiative involving institutional digital currency and commercial bank-issued deposit tokens.　　Bank of Korea says private companies should handle stablecoins　　At the October 12 parliamentary hearing, Shin explained that stablecoins should be operated by private companies because they are designed to circulate through decentralized blockchain networks. He described their purpose as allowing digital tokens to move independently of central bank currency on permissionless blockchain systems. However, the governor maintained that the Bank of Korea would retain a role in discussions concerning the countrys monetary system.　　Shin stated that “it is

23 hours agoIndustry

THORChain dev accuses Tether of temporarily freezing USDT vaults

THORChain technical co-founder Chad Barraford accused stablecoin issuer Tether of blacklisting the networks USDt (USDT) vaults without explanation, then unfreezing them hours later.　　In a Friday X post, Barraford said that Tether had blacklisted THORChain vault addresses, freezing about a combined 1.45 million USDT in the networks funds across four wallets. He reported about two hours later than trading would resume after the company unfroze all the addresses.　　“We dont know why this choice was made and have had no comms with USDT before this action and are actively reaching out to have a conversation,” said Barraford before the addresses were unfrozen. “We hope that this was made in error / misunderstanding.”　　Cointelegraph reached out to Tether and THORChain for details on the incident, but did not receive an immediate response.　　Earlier this week, cross-border payments platform Conduit Technology filed a lawsuit against Tether, alleging that the stablecoin company froze $2.76 million worth of USDt in a wallet tied to an investigation launched by Brazilian authorities in 2024. Two Thai nationals also sued the stablecoin company in August for allegedly freezing $42.4 million in USDt after an alleged “informal request” from US Homeland Security Investigations.

23 hours agoIndustry

France proposes €10,000 fines for undeclared self custody crypto holdings

French lawmakers have approved a proposal requiring individuals holding at least €100,000 ($112,000) in self custody cryptocurrencies to declare their assets to tax authorities or risk fines of up to €10,000.　　According to amendment I-CF821, adopted by the French National Assemblys Finance Committee on Friday, the proposed requirement would cover digital assets held outside regulated crypto service providers, including cryptocurrencies stored in personal wallets.　　The measure would introduce a new provision into Frances general tax code, requiring eligible holders to report the value of their assets as of December 31 each year.　　Failure to submit the required declaration could result in a penalty reaching €10,000. However, the proposal has not become law and must receive further parliamentary approval before the reporting requirement can take effect.　　Charles de Courson, Jean-Pierre Bataille and Michel Castellani, three lawmakers from the Liberties, Independents, Overseas and Territories parliamentary group, introduced the amendment as part of the countrys 2027 budget discussions.　　France targets undeclared crypto holdings　　The proposal focuses on cryptocurrencies held without an intermediary, where individuals maintain control of their assets through personal wallets instead of relying on a crypto exchange or custody provider.　　According to the amendments sponsors, the reporting requirement is intended to address tax evasion involving digital assets that

23 hours agoIndustry

Solana ETFs End a 14-Week Buying Streak With Their Largest Weekly Exit

US spot Solana (SOL) exchange-traded funds (ETFs) lost $24.8 million in the week ending October 9. It was their largest weekly outflow since launch in October 2025 and ended 14 straight inflow weeks.　　Just 2 weeks earlier, the funds drew $188.2 million, their second-biggest week on record. Inflows then slowed to $2.4 million in the week ending October 2.　　Sponsored　　Sponsored　　Solanas Record Exit Lands in a Red Week for Crypto ETFs　　According to SoSoValue data, the previous weekly record was an $8.9 million outflow in the week ending February 6. Last weeks exit was almost 3 times that size.　　Follow us on X to get the latest news as it happens　　Solana ETF Weekly Flows. Source: SoSoValue　　Bitcoin (BTC) ETFs shed $681.1 million in the same week, while Ethereum (ETH) ETFs lost $542.1 million. Ethereum funds closed the week on a ninth straight outflow day, BeInCrypto reported.　　Zcash (ZEC) and Hyperliquid (HYPE) ETFs also posted outflows of $30.7 million and $9.4 million, respectively.　　SOL Sees Modest Rise After a 10% Slide　　Net assets in the Solana funds fell 8.9% over the week, from $1.90 billion to $1.73 billion. The outflow accounts for only about $25 million of that $170 million decline. The rest largely reflects SOLs price slide over the

Yesterday 14:19Industry

Trump Approval Rating at 34% Three Weeks Before Midterms, Poll Shows

Three weeks before the midterms, just 34% of US voters approve of Donald Trump, a Financial Times (FT) poll shows. 　　Traders betting on that vote see Republicans losing the House. Polymarket gives Democrats a 91% chance of taking the chamber, on $16.4 million in volume.　　Sponsored　　Sponsored　　Jobs, Fuel and an 8-Month War Weigh on the Vote　　The FT and Focaldata surveyed 2,275 registered voters online from October 2 to 4. Roughly one-fifth approved of Trumps handling of inflation.　　More than two-thirds said the economy was heading in the wrong direction. In addition, only a quarter backed his handling of jobs and the economy.　　The poll opened the same day the Bureau of Labor Statistics (BLS) reported 29,000 new jobs for September. The agency also cut its July and August estimates by a combined 60,000 jobs.　　Energy costs form the other pressure point. The Consumer Price Index (CPI) rose 3.4% in the 12 months to August. Energy costs climbed 16.3% over the same period, with gasoline up 27.4%.　　Trump launched the Iran war on February 28, and energy has carried most of its inflation impact since. Diesel prices topped $6 for the first time last month. Trump has weighed curbs on diesel exports to cool prices.　　Support for his

Yesterday 14:19Industry
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