Crypto custody firm Bitgo has confidentially filed for U.S. IPO, pending SEC review.

Polymarket, the crypto-betting site, is buying a little-known derivatives exchange called QCX to legally re-enter the U.S., just weeks after the DOJ ended its investigation.

The FBI has dropped its investigation into Kraken founder Jesse Powell. All seized devices and cryptocurrency have been returned, and no charges have been filed.

President Trump will sign an executive order on Thursday that aims to allow private equity, real estate, cryptocurrencies, and other alternative assets in 401(k) retirement accounts. It is set to be the biggest move yet by the Trump administration to bring private assets to defined-contribution accounts.

Terraform Labs co-founder Do Kwon is set to plead guilty to two U.S. fraud charges over the $40bn TerraUSD stablecoin collapse in 2022.

Last week, global cryptocurrency investment products saw inflows of $3.17 billion, bringing this year’s cumulative inflows to a record $48.7 billion.

Although the market plunged on Trump’s tariff remarks and some coins fell to '0', U.S. Bitcoin ETFs drew $2.7 billion and Ethereum ETFs took in over $300 million, keeping investor enthusiasm intact.

Weekly trading volume also hit a record $53 billion.

▪ The block

Norwegian authorities are investigating the surge in bets on a specific candidate on Polymarket just before the Nobel Peace Prize announcement.

Bets favorable to the laureate, Venezuelan opposition leader Maria Corina Machado, poured in hours before the announcement, raising allegations of leaked inside information and insider trading.

One user reportedly bet about $70,000 and made $30,000 in profit, and the Nobel Institute is investigating access to confidential information and whether it was illegally shared.

▪ Blockworks

Citibank to Enter Crypto Custody in 2026

▪ According to CNBC Citibank plans to roll out a crypto custody (the bank holds customers’ coins) service in 2026.

▪ U.S. Bank has resumed Bitcoin custody, while JPMorgan and Morgan Stanley are pursuing support for stablecoins and trading.

▪ After the SEC approved BlackRock’s and Fidelity’s Bitcoin and Ethereum ETFs, banks’ interest has grown, and a major bank consortium is reviewing 1:1 reserve digital money.

▪ decrypto

The Whale Who Predicted the Market Collapse, 0xb317

During the recent cryptocurrency market plunge, a trader known as 0xb317 was revealed to have made massive profits by taking large short positions on two occasions. In the first trade, about $192 million, and in the second trade, he reportedly took a position worth $163 million.

Some have suggested that this individual may be an “insider whale” who knew of market fluctuations in advance, and others have even raised speculation about ties to former exchange executives or the family of former President Trump.

U.S. Government Shutdown Forecast Summary (Polymarket · Kalshi)

Prediction markets expect the U.S. government shutdown that began on October 1 to be likely to continue into November. On Polymarket, the odds of ending in October are 34%, November or later is 66%, and the median is November 4–7. Kalshi likewise has 64% for lasting 30+ days and 48% for 35+ days, implying roughly 4–5 weeks.

For reference, the longest government shutdown in U.S. history lasted 35 days, from December 22, 2018 to January 25, 2019.

Bridge under Stripe applies for a national trust bank charter

Bridge, the stablecoin unit of payments company Stripe, has applied to the OCC to establish a national trust bank under the GENIUS Act. If approved, stablecoin issuance, redemption, and custody will be possible under a federal regulatory framework.

Circle·Paxos·Ripple·Coinbase are also pursuing similar charters, and the GENIUS Act requires 100% reserves·monthly disclosures·redemption priority.

▪ Decrypt

Japan is drafting rules to crack down on cryptocurrency insider trading

According to Nikkei, the SESC is set to be granted authority to investigate trades that profited from non-public information and, depending on the size of the gains, to recommend fines or file criminal complaints.

Insider trading bans have not applied to cryptocurrencies until now, and the FSA is preparing detailed proposals with the aim of amending the law in 2026.

▪ cointelegraph

According to Coinglass, approximately $706 million in positions were liquidated over the past 24 hours. Of this, long positions were $456 million, and short positions were $249 million+.

By asset, Ethereum ranked first in liquidation volume at $234 million, Bitcoin at $168 million, and other altcoins totaled $68 million.

Spot Bitcoin ETFs saw a $326 million net outflow on Monday, marking two consecutive days of outflows, and spot Ethereum ETFs also saw a $428 million net outflow, likewise declining for two straight days.

Taiwan’s stablecoin infrastructure company OwlTing will go public on Nasdaq via a direct listing on October 16, starting to trade under ‘OWLS’.

The company focuses on stablecoin infrastructure and recorded 2024 revenue of $7.6 million and payment volume of $218 million.

Stripe Bridge’s federal trust application, major banks’ review of G7 collateral stablecoins, and discussions about acquiring BVNK are among the ongoing industry moves.

▪ Decrypt

According to the U.S. prediction market Kalshi, participants in “How high will Bitcoin get this year?” put the probability of exceeding $130,000 at 55%. Over $140,000 is 34%, and over $150,000 is 24%.

The market’s expected annual high is currently about $132,000.

Will Bitcoin's all-time high reach $130K in 2025? (✅)

Looking at the poll results across our global channels, most people see a bright future for Bitcoin in 2025. Español Channel (81%) stands out with the strongest conviction. 😁

🇪🇸(289 votes): 81%
🇷🇺(54 votes): 80%
en(260 votes): 79%
🇮🇹(363 votes): 79%
🇮🇷(640 votes): 77%
🇨🇳(483 votes): 77%
🇹🇼(94 votes): 76%
🇮🇩(160 votes): 76%
🇰🇷(182 votes): 76%
🇹🇷(236 votes): 75%
🇵🇹(80 votes): 70%

kalshi: 55%

The 175-year-old French financial giant ODDO BHF is issuing the euro-pegged stablecoin EUROD and listing it on the Spanish exchange Bit2Me.

In line with the EU’s MiCA regime, it serves as a compliant digital version of the euro, and the EU MiCA regulation requires 1:1 reserves and redemption guarantees.

▪ BeInCrypto

Coinbase invests $2.45B in CoinDCX

Coinbase invested in the Indian exchange CoinDCX, valuing the company at $2.45 billion. CoinDCX was founded in 2018 and has 14 million+ users.

This deal is part of its strategy for Asian retail market expansion following Singapore and Dubai licenses. Also this month, it invested $300 million in Kalshi (valued at $5 billion), and $25 million in Coinflow.

▪ blockworks

Recent crypto-related incidents

▪ Dota 2 official YouTube ‘DotaCoin’ impersonation hack
For a brief period on Wednesday (UTC), the official Dota 2 YouTube channel was hijacked, and a fake livestream promoting the Solana-based 'dota2coin' token was broadcast

▪ North Korean hackers distribute 300+ malicious packages on npm
The Socket research team is tracking an attack called the 'Contagious Interview' campaign: npm packages with names similar to popular libraries aim to steal crypto wallet keys

▪ Paxos PYUSD 300 trillion tokens 'mis-mint→immediate burn' technical error
Paxos immediately burned the 300 trillion PYUSD mis-mint and stated it was not a hack. Aave proactively paused the PYUSD market for a short time