Latest Crypto News & Market Updates

BitMines Ethereum buying spree could end in six weeks

BitMine Immersion Technologies Chairman Tom Lee said the company will stop accumulating Ethereum once its holdings reach 5% of the cryptocurrency‘s supply, capping the strategy that made it ETH’s largest corporate holder.　　Related Asset Ethereum #2 ETH · $2,530.20 24-hour change: down 1.48% Loading price history… 24H Down 1.48% 7D Down 6.01% 30D Up 2.36%　　Speaking at TOKEN2049 in Singapore, Lee said BitMine was already close to that limit and would not pursue an open-ended accumulation campaign. He said:　　“We only need to get another 100,000 ETH to get to 5%.”　　Notably, the company is actually slightly closer than Lees rounded estimate suggests. BitMine held 6,016,414 ETH as of Oct. 4, equal to about 4.9% of the 122.1 million ETH supply cited in its latest disclosure.　　Related Company BitMine A Bitcoin network company　　This means BitMine would need roughly 88,586 ETH to reach 5% of the 122.1 million ETH supply used in its calculations.　　At an illustrative ETH price of $2,500, acquiring the remainder could cost roughly $221 million. BitMine reported $643 million in cash and marketable securities, giving it enough disclosed liquidity to cover the gap while retaining most of that liquidity.　　BitMine could reach its 5% ceiling within weeks　　BitMine‘s latest official purchase rate puts Lee’s 5%

2 days agoIndustry

Bitcoins failed breakout reveals a dangerous mix of thin volume and easy profits

Bitcoin has fallen nearly 5% this week as weak trading volume and profit-taking blunt attempts to reclaim $85,000.　　Related Asset Bitcoin #1 BTC · $82,232.76 24-hour change: down 1.43% Loading price history… 24H Down 1.43% 7D Down 1.74% 30D Up 4.92%　　The largest cryptocurrency traded around $83,100 as of press time, extending a retreat that followed Sundays brief close above the key level. Bitcoin has since failed to sustain that breakout, slipping beneath newly placed sell orders before buyers around $85,000 also gave way.　　On-chain data suggests the pullback is unfolding against two related pressures: unusually weak participation and a large pool of recent buyers with profits available to realize.　　Combined Bitcoin trading across spot exchanges and US spot exchange-traded funds averaged about $6.8 billion a day over the seven days through Oct. 6, Glassnode said. That was lower than on 90% of trading days since January 2024.　　Related Company Glassnode On-chain analytics platform　　The weakness persisted even as Bitcoin tried to break resistance. Sundays close above $85,000 came on roughly half the trading volume of a typical Sunday, while no session since Sept. 22 has recorded normal spot volume for its respective day of the week.　　At the same time, sellers approaching the market have increasingly

2 days agoIndustry

Samsung integrates USDC to overhaul cross-border remittances for 82 million Galaxy users

Samsung is turning its wallet app into a cross-border payments tool by allowing eligible users to remit $USDC to other wallets and bank accounts starting in the last week of October.　　“Sending money abroad should feel as convenient as using the wallet already on your phone,” Woncheol Chai, Samsung Electronics‘ head of its digital-wallet team, said. “We’re bringing $USDC transfers into Samsung Wallet so eligible Galaxy users can get started without installing another app or managing private keys themselves.”　　The feature will be available on 82 million Galaxy devices across the United States and will be fully compatible with the Samsung Wallet, which is already used for cards, IDs and boarding passes, Solana said in a statement announcing its partnership with Samsung on Wednesday.　　To power the initiative, Solana and Sui will provide the underlying blockchain network support. Coinbase will custody the stablecoin through Coinbase Prime Vault, while Bastion will provide the regulated stablecoin infrastructure.　　Through this integration, users will be able to send Circle‘s stablecoin, $USDC, the world’s second-largest dollar-pegged token preferred by institutions for its strong regulatory backing. Use of stablecoins in cross-border transactions has expanded robustly this year due to low transaction costs, according to the IMFs annual report.　　Galaxy users can

2 days agoExchange

Vitalik Buterin urges calm as AI raises new fears over Bitcoin and Ethereum cryptography security

Ethereum co-founder Vitalik Buterin warned that AI-driven advances in mathematics could weaken both existing crypto signatures and some post-quantum defenses.　　On Oct. 7, Buterin advised crypto holders to reduce exposure where practical but cautioned against rushing funds into new wallets, arguing that migration mistakes pose a more immediate danger than any demonstrated cryptographic break.　　He wrote on X:　　Related Asset Ethereum ETH · $2,528.77 24-hour change: down 1.49%　　“I dont recommend anyone scramble to move their funds to new wallets today. But we should take the risks to cryptography from AI-accelerated math seriously.”　　OpenAIs math advances trigger warnings　　His comments followed Ethereum researcher Justin Drakes call for the industry to begin preparing for “bunker mode,” including moving assets toward fresh addresses whose public keys have never been exposed onchain.　　Drake raised the possibility that advances in artificial intelligence could accelerate mathematical attacks on the elliptic-curve cryptography used by Bitcoin and Ethereum.　　The debate intensified after OpenAI published new mathematical results generated by an internal frontier model on Oct. 6, including machine-generated proofs formalized in Lean. OpenAI did not report any attack on blockchain cryptography, and neither Buterin nor Drake pointed to evidence that ECDSA has been practically broken.　　Related Company OpenAI AI research and deployment company　　Buterins warning extends beyond

2 days agoIndustry

Bitcoin Price Forecast: BTC, Oil and Key Levels

Bitcoin was trading at $82,971 on October 8, down 1.41% over 24 hours. That live reading keeps BTC below $84,000, the level whose loss turned Octobers consolidation into a short-term breakdown. For any Bitcoin price forecast, the question now is whether recent lows can hold while oil and rates push against risk appetite.　　Renewed attacks on commercial tankers near the Strait of Hormuz sent Brent crude above $101 a barrel. Bitcoin fell as much as 3.7% to about $83,056.60 on October 7, while crypto liquidations reached $547 million, with leveraged longs taking much of the hit. Roughly $100 billion was wiped from the crypto market amid fears that AI could soon break Bitcoins cryptography.　　CRASH: Bitcoin hits a 7-day low as $100,000,000,000 is wiped from crypto amid fears AI could break its cryptography within months. pic.twitter.com/K6cWSWHo8c　　— Crypto Rover (@cryptorover) October 8, 2026　　Join Coinspeakers $1,000 Prize Drop on BybitBitcoin Price Forecast: Can BTC Price Hold Its Support？　　BTCUSDT Chart 1D TradingView　　BTC is trading near $83,000 on October 8, down 1.41% over 24 hours after touching a seven-day low around $82,560. The drop follows two failed attempts in late September and early October to break $87,145, the resistance that has capped every push since Bitcoin

2 days agoIndustry

US Bitcoin ETFs shed $485M in biggest daily outflow since June

US spot Bitcoin exchange-traded funds (ETFs) recorded $484.9 million in net outflows on Wednesday, reversing Tuesdays $118.8 million net inflow.　　The withdrawals were the largest since June 25, when the funds lost $691.7 million, according to Farside Investors.　　Wednesday‘s outflows wiped out the $321.6 million in net inflows recorded over October’s first four trading sessions, leaving Bitcoin ETFs with approximately $163 million in net outflows for the month.　　BlackRock‘s iShares Bitcoin Trust (IBIT) led Wednesday’s withdrawals with $207.7 million, followed by Fidelity‘s FBTC with $105.1 million and ARK 21Shares’ ARKB with $101.7 million. IBIT had $122 million in net inflows the day before.　　Bitcoin traded near $82,700 on Thursday, down about 2% over the previous 24 hours, according to CoinGecko.　　Meanwhile, US spot Ether ETFs recorded $160.9 million in net outflows on Wednesday, extending their losing streak to seven consecutive trading sessions.　　Ether funds have shed approximately $569 million since Sept. 29, with BlackRock‘s iShares Ethereum Trust (ETHA) accounting for $116.1 million of Wednesday’s withdrawals. Grayscales Ethereum Trust (ETHE) followed with $25.8 million in outflows, according to Farside Investors.

2 days agoIndustry

Ripple challenges Wall Street banks with leveraged ETF financing push

Ripple has entered the leveraged exchange traded fund financing business through Ripple Prime, providing funding to investment products that seek to deliver multiples of the daily performance of individual stocks and market indexes.　　SummaryRipple Prime has entered the leveraged ETF financing market, providing stock swap arrangements traditionally handled by major Wall Street banks.The brokerage is financing a Sandisk leveraged ETF that pays a rate based on overnight bank funding costs plus four percentage points.Ripple entered institutional brokerage through its $1.25 billion Hidden Road acquisition and has since expanded into equity derivatives and financing.Ripple Prime raised $275 million in August to support its U.S. brokerage operations and recently expanded its institutional relationship with Brevan Howard.　　According to an Oct. 7 report by the Wall Street Journal, Ripples prime brokerage division is financing leveraged ETFs through arrangements traditionally handled by major banks and securities firms.　　One of the funds using the service is the Tradr 2X Long SNDK Daily ETF, which seeks to deliver twice the daily performance of Sandisk shares. The fund pays Ripple a financing rate based on the overnight bank funding benchmark plus four percentage points.　　The arrangement allows Ripple to earn financing fees from funds that use derivatives to provide leveraged exposure

2 days agoIndustry

HYPE drops 4% to $87 as team starts $330M token deal

Hyperliquid Labs has completed the seven-day unstaking of 3.75 million HYPE worth roughly $330 million, allowing tokens tied to a private institutional deal to begin moving across wallets.　　Onchain Lens reported on Oct. 7 that the tokens had reached Hyperliquid Labs spot balance, with 1.875 million HYPE subsequently sent across five addresses. Each wallet initially received 375,000 tokens, representing half of the 3.75 million-HYPE allocation.　　The tracker said the tokens were linked to an over-the-counter, or OTC, agreement with an undisclosed institution and would not be sold directly through the open market. An OTC transaction allows two parties to arrange a transfer privately without placing the entire order onto a public exchange order book.　　HYPERLIQUID LABS STARTS $330M HYPE OTC DISTRIBUTION　　Unstaking of 3.75M $HYPE ($330M) has finished after 7 days, with the tokens now credited to Hyperliquid Labs spot balance.　　These tokens will not be sold on the open market. Instead, the Hyperliquid Labs team has arranged an… pic.twitter.com/70MG4Qg898　　— Onchain Lens (@OnchainLens) October 7, 2026　　Earlier reporting linked the deal to Hyperliquid‘s October team distribution. FinanceFeeds reported that Hyperliquid co-founder iliensinc said in the project’s Discord that the entire 3.75 million-token block was covered by an institutional OTC arrangement. The buyer, negotiated price and any

2 days agoIndustry

Ripple Emerges as Major Wall Street Threat

According to a recent report by The Wall Street Journal, Ripple now asserts itself as a major competitor to Wall Street banks in a lucrative segment of the financial world that has been largely the domain of the big banks.　　The enterprise blockchain firm has become a major player when it comes to the financing of swaps for leveraged exchange-traded funds (ETFs). Such investment funds enable investors to gain more leverage over the price movements of individual stocks or stock market indexes by using derivatives like total return swaps.　　Generally, major banks and brokerage houses have been the ones offering up these contracts for a fee while simultaneously hedging their risk to the underlying asset. Now, however, Ripple is trying to get a piece of this lucrative pie with its institutional brokerage arm known as Ripple Prime.　　Morningstar Direct data shows there are 593 leveraged ETFs trading in the U.S. at the moment, with assets under management totaling over $256 billion. Out of that total, 426 of them are single-stock leveraged ETFs.　　Depending on the deal, the financing fees can be quite lucrative for the providers. Per the WSJ report, one leveraged fund pays out the overnight bank funding rate plus 4% for financing

2 days agoIndustry

‘Old money’ has stronger Bitcoin ‘diamond hands,’ says BingX exec

BingX chief strategy officer Kevin Lee says wealthy “old money” investors are taking a longer-term approach to Bitcoin (BTC) than many crypto-native traders.　　In a Token2049 fireside chat with Cointelegraph head of multimedia Ciaran Lyons, Lee said he deals with “a lot of old money” seeking alternative investments.　　“They have stronger diamond hands than any of us,” Lee said.　　He added that Bitcoin has grown large enough that wealthy investors are increasingly looking at it as a way to diversify a portfolio rather than expecting it to “go 10x in two weeks.”　　Lee described wealthy investors as a largely untapped source of crypto capital, saying their buy-and-hold approach could make Bitcoin a portfolio diversifier for more investors. But data on family offices suggests that broader adoption remains limited.　　Cointelegraphs Ciaran Lyons (left) and BingX CSO Kevin Lee (right) at Token2049 Singapore. Photo: Aubrey Paller/CointelegraphWealthy crypto investors lean long term, but adoption remains limited　　Some affluent investors increasingly cite long-term appreciation and diversification as reasons for holding crypto.　　Lee said Bitcoins growth has made it more viable as a portfolio diversifier, giving the example of an investor allocating 5% to gold and another 5% to Bitcoin rather than looking for rapid returns.　　Recent data suggests affluent investors who already

2 days agoIndustry

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