Bitcoin Rebounds After Rough Week, But Traders Are Pricing In More Downside

In briefBitcoin rebounded 1.38% to $82,837 on Friday after dipping to $80,427 on Thursday, while total crypto market cap rose 2% to $2.8 trillion and the Fear s ETF tracker.  Bitcoin trades around $82,837 on Friday, up 1.38% on the day, after dipping to $80,427 on Thursday, its lowest level since early September.  Bitcoin ETF flows. Image: Decrypt  The daily candle opened at $81,711 and has ranged between $81,553 and $83,443. On the four-hour chart, price still trades below the 50-period exponential moving average, so the short-term trend has not turned.  Myriad, a prediction market owned by Decrypts parent company Dastan, gives a 67% chance that Bitcoin trades at or below $80,000 at some point in October, with 40% odds for $77,500 and 24% for $75,000.  Bitcoin price data. Image: Tradingview  A separate weekly market put 49% odds on Bitcoin finishing the week above $87,500 so traders expect a month of price compression with some space for further downside.  The Average Directional Index, or ADX, which measures trend strength regardless of direction, reads 37.9 on the daily chart, well above the 25 level that confirms a real trend. The directional lines show buyers (DI+) above sellers (DI-), so the trend is still bullish even after the pullback.  The

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Binance Founder CZ Urges Wallet 'Quarantine' After $86 Million Ledger Reseller Hack

Binance co-founder Changpeng Zhao (CZ) urged crypto investors to impose a strict “quarantine” period on new hardware wallets. The warning came amid an incident in Southeast Asia in which users lost more than $86 million after a local Ledger distributor was compromised.  Events this fall have exposed a new vulnerability in the industry: hackers have shifted their focus from exploiting digital bugs to physically intercepting devices during delivery.  Binance founder CZ shares a security tip on wallet quarantine, Source: CZ via X.com  Commenting on the risks, Changpeng Zhao recommended against transferring large amounts of assets to new addresses immediately after purchasing a device or downloading software.  In his view, the wallet should remain unused for at least a couple of weeks. During this period, investors should closely monitor relevant news for reports of potential hacking attacks.  CZ reminded users that self-custody of digital assets always carries additional responsibility that cannot be ignored. He emphasized that, in todays environment, physical devices can be modified before they reach the end customer, while the official website of any software can be hacked.  Such a preventive timeout gives users a window of opportunity: if a batch of devices arrives at a reseller already compromised, on-chain analysts will have two weeks

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Ethereum open interest rose 2.3% in ETH on Binance as its dollar value fell 6.6%

Ethereum open interest in Binances ETHUSDT futures contract was 2.27% higher in ETH on Thursday, Oct. 8, over the last 48 hours, even though its USDT-denominated value had fallen 6.58%.  Related Asset Ethereum #2 ETH · $2,490.03 24-hour change: up 3.29% Loading price history… 24H Up 3.29% 7D Down 7.41% 30D Down 0.19%  Open interest measures outstanding futures exposure. For traders assessing exposure remaining through the price decline, coin quantity separates changes in that exposure from changes in its valuation.  Bitcoin‘s futures book provided a different version of the same distinction. Over those matched timestamps, Binance’s BTCUSDT open interest fell 1.45% in BTC units, compared with a 5.97% decline in USDT value. Most of that value decline came from repricing under the accounting method used below.  Related Company Binance Global crypto exchange  The common Oct. 6 starting point captures earlier growth as well as Thursdays contraction. Both open-interest quantities contracted on Oct. 8. From midnight to 21:00 UTC, ETH-denominated exposure fell 2.85% and BTC-denominated exposure fell 3.03%.  Related Asset Tether USDT · Stablecoin  Ethereum open interest: more ETH, less USDT value  The ETHUSDT hourly records show open interest rising from 2,279,556 ETH to 2,331,355 ETH across the fixed 69-hour window. Its value fell from approximately 6.175 billion USDT

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Blockchain.com pursues CFTC approval for prediction markets: CNBC

Blockchain.com has reportedly applied to the US Commodity Futures Trading Commission (CFTC) for approval of prediction market offerings and crypto derivatives.  CNBC reported Friday that the exchange filed for two licenses with the CFTC for event contracts and crypto derivatives offerings for US-based retail and institutional investors. The licenses, as a designated contract market (DCM) and futures commission merchant (FCM), would allow Blockchain.com to operate as a futures exchange for event contracts and a broker for derivatives contracts, respectively.  Blockchain.com announced in July that it planned to partner with Polymarket as part of a prediction markets integration on the companys app. However, if approved, the CFTC license would allow the exchange to offer its own marketplace with event contracts.  The question of oversight and enforcement of prediction market platforms like Kalshi and Polymarket is currently being tested in US courts, as many state-level authorities have lawsuits pending against companies for alleged violations of laws betting on sports and elections. Last month, New Jersey officials filed a petition with the US Supreme Court to weigh in on their case against Kalshi, which could resolve disputes between federal and state regulators.  Related: Prediction markets hit new high as Polymarket enters Sam Altmans World  Blockchain.com was also reportedly

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Ethereum L2 Starknet Jumps 20% After Saying It Wants to Become an L1

In briefStarknet is “actively considering” becoming an independent layer-1 blockchain, with 2027 as the target to become the first fully quantum-resistant network.StarkWare CEO Eli Ben-Sasson said an L1 would let Starknet control its own security upgrades instead of waiting for Ethereum, whose roadmap targets core post-quantum infrastructure around 2029.The STRK token traded near $0.073 on Friday, up about 20% in 24 hours and more than double its roughly $0.03 price in April.  Starknet, the Ethereum scaling network built by StarkWare, said it is weighing a move to become its own blockchain.  “We are actively considering becoming an L1,” the project wrote on X. “This would enable Starknet to become the first fully quantum-resistant network, with 2027 as our target.”  Myriad: Where does Ethereum go next? Click to make your prediction.  The STRK token traded around $0.073 on Friday, up about 20% in 24 hours. That is more than double the roughly $0.03 it fetched in April, when StarkWare cut staff to chase revenue.  An L1, or layer 1, is a base blockchain such as Bitcoin or Ethereum that validates and secures its own transactions. Starknet is a layer 2, a network that sits on top of Ethereum, bundles transactions into batches and leans on the

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Ripple's $24M XRP Debt Fight Puts a $400M Tranglo Stake on the Block

A Malaysian court has given Ripple a charging order over Seamless Groups 60% stake in Tranglo, a holding priced at $400 million in January, to collect roughly $24 million in unpaid XRP invoices.  Key TakeawaysThe High Court of Malaya made absolute a charge over 100,465 Tranglo shares held by Seamless on Oct. 1.Currencs $400M Tranglo sale to New Margin had a Sept. 30, deadline and no disclosed closing.Ripple may seek a court-approved sale from Oct. 7, while Seamless can still contest valuation.  The Massive $23,952,480 Figure Explained  It is the unpaid principal Nasdaq-listed Currenc Group disclosed in an Oct. 7 filing with the U.S. Securities and Exchange Commission (SEC), before adding late fees and court costs.  The debt traces back to Ripples on-demand liquidity (ODL) service, which uses XRP as a bridge between two fiat currencies. According to the Singapore High Court judgment, GEA Limited, a Hong Kong remittance firm then owned by Seamless, signed an XRP purchase agreement and a $5 million line of credit with Ripple on Sept. 12, 2022.  GEA ran up four invoices, one in October 2022 and three in March 2023, and paid only $8,455,740 toward one of them. Ripple withdrew the ODL service on March 11, 2023, after the

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UK sanctions three crypto exchanges tied to Russian illicit funds

The UK government has sanctioned three cryptocurrency exchanges and two payment platforms suspected of helping Russian entities circumvent financial sanctions.  Three of the service providers were linked to Kyrgyzstan, while two of them facilitated transactions with the Kremlin-backed A7 network, the UK Foreign, Commonwealth & Development Office (FCDO) announced Thursday.  Cutting off these platforms makes it harder for sanctioned entities to move and access funds, the Foreign Ministry said, adding that the A7 financial network claimed to have moved more than $90 billion last year, or nearly half of Russias annual military expenditure.  Blockchain analytics platform Chainalysis found that two of the sanctioned payment processors, Cryptomus and Heleket, received funds from thousands of illicit counterparties, peaking at 900 entities within a single month in late 2025.  Another sanctioned platform, the Kyrgyzstani TokenSpot exchange, was also tied to the A7 network. Chainalysis determined that TokenSpot, along with Grinex and Meer, received over $308 million from the same HTX deposit address.  In May, UK authorities included Huobi Global, the operator of crypto exchange HTX, in their sanctions package. HTX pushed back against the decision, arguing that the designation applies only to Huobi Global as a separate legal entity and said its online exchange and user funds remain

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Crypto Biz: Wealthy investors are buying crypto, but their advisers arent sold

Affluent investors appear increasingly comfortable with crypto, even if their financial advisers arent keeping pace. A new CoinShares survey found that a majority of wealthy investors across seven major economies already own digital assets, with many planning to increase their exposure this year.  The findings come as capital continues to move into crypto in other ways, even against a tougher market backdrop. Bitcoin is trying to build on its best quarter since 2017 while Treasury yields remain above 5%, and OKX has raised additional funding at a $25 billion valuation.  Meanwhile, Strategy is putting more capital into its preferred stock. The company spent more than six times as much buying back STRC shares last week as it did buying Bitcoin.  Bitcoins rally runs into a 5% Treasury market  Bitcoin is coming off its best third quarter since 2017, but extending the rally could prove difficult as Treasury yields above 5% give investors an increasingly attractive alternative to risk assets, according to Delphi Digital.  Delphi pointed to Bitcoin‘s 43% third-quarter gain and third consecutive weekly advance, but warned that “the grind higher is happening against real resistance.” This resistance includes the Federal Reserve’s September rate hike and Treasury yields at multi-decade highs.  However, Vanessa Grellet of Arche

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DWF Labs Subsidiaries Sue BitGo for $141 Million Over Early Token Sales

In briefDWF Maas and Falcon Digital, two firms tied to market maker DWF Labs, sued custodian BitGo for $141 million in Londons High Court, alleging it sold locked-up tokens early in breach of a private OTC deal.The firms say BitGo got the tokens at a discount on a pledge not to sell before vesting, then moved them to exchanges early.Both parties have ties to Trump-backed World Liberty Financial.  Two companies tied to crypto market maker DWF Labs have taken BitGo to court, alleging the custodian dumped locked-up tokens early and tanked their value, in a $141 million dispute now before Londons High Court.  DWF Maas and Falcon Digital filed the suit, the Financial Times reported Friday, accusing BitGo of breaching the terms of a private, over-the-counter deal involving Falcon Finance (FF) and ESPORTS tokens.  Myriad: Who wins the midterm elections? Click to make your prediction.  According to the reporting, BitGo had received the tokens at a discount in exchange for a commitment not to sell them until lock-up and vesting periods expired, but instead moved them to exchanges roughly two months before the first unlock.  DWF argues that selling into a thin market created heavy downward pressure, eroding the value of the tokens it still

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New York AG Secures Up to $35M and Industry Ban From Ex-Celsius CEO Alex Mashinsky

In briefNew York Attorney General Letitia James has permanently barred former Celsius CEO Alex Mashinsky from the securities, commodities and crypto industries.The settlement secures up to $35 million, payable only if Mashinsky fails to forfeit $10 million more or does not serve his full prison sentence.Mashinsky is serving 12 years in federal prison after pleading guilty to fraud, and has asked a court to vacate the sentence.  New York Attorney General Letitia James has permanently barred former Celsius Network CEO Alex Mashinsky from the securities, commodities and crypto industries, and secured up to $35 million from him, her office announced Friday.  The payments are conditional, with Mashinsky required to pay New York $25 million if he fails to forfeit a further $10 million in ill-gotten gains to the federal government under his plea agreement, and $10 million if he does not serve his full prison sentence.  Were barring Alex Mashinsky, the former CEO of Celsius, from the financial industry after he promised New Yorkers that his company was a secure place to invest their savings, only to leave them penniless.  I wont allow scammers to prey on unsuspecting New Yorkers. https://t.co/c4WYcFbKEi  — NY AG James (@NewYorkStateAG) October 9, 2026  Mashinsky has asked a court to vacate

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