Layer 1 blockchain Kadena announced that it will cease operations due to unfavorable market conditions, halting all business activities and active blockchain maintenance. Kadena will continue to operate until miners and validators exit, with approximately 566 million KDA in mining rewards set to be distributed through the year 2139. Following the announcement, KDA fell to $0.088, marking a 60.21% decline in a single day. — link

Senior Bloomberg ETF analyst Eric Balchunas stated that there are currently 155 crypto ETP applications tracking 35 different digital assets, with the number expected to rise to 200 over the next 12 months. According to data charts, ETP applications related to Solana, Bitcoin, and XRP each exceed 20, while Ethereum and Basket ETPs exceed 10. — link

On October 21, spot Bitcoin ETFs saw a total net inflow of $477 million, while none of the twelve ETFs saw a net outflow. Spot Ethereum ETFs recorded a total net inflow of $142 million, while none of the nine ETFs saw a net outflow. — link

South Korea’s largest exchange Upbit will list CPOOL trading pairs against KRW, BTC, and USDT. Clearpool is a decentralized credit market project designed to provide unsecured lending for crypto-native institutions. Bithumb announced the listing of CPOOL/KRW trading pair. — link

According to Alpha Arena, within a week since October 18, major AI models in nof1’s trading competition — including Claude Sonnet 4.5, Gemini 2.5 Pro, and GPT 5 — have suffered heavy losses, with Gemini 2.5 Pro and GPT 5 down over 50%. DeepSeek Chat V3.1, Qwen3 Max, and Grok 4 remain profitable but with sharp drawdowns. — link

Breaking: Hong Kong Securities and Futures Commission (SFC) has officially approved the first Solana (SOL) spot ETF, issued by ChinaAMC (Hong Kong). This marks the third approved cryptocurrency spot ETF after Bitcoin and Ethereum, and the first of its kind in Asia. — link

dYdX has launched the “2025 World Series Perpetual” market, allowing users to trade leveraged positions on whether the Los Angeles Dodgers — Shohei Ohtani’s team — will win the 2025 MLB World Series. The contract supports up to 5x leverage, stop-loss and take-profit orders, and real-time settlement. — link

According to Russian outlet Izvestia, Finance Minister Anton Siluanov announced on October 21 that the Ministry of Finance and the Central Bank have agreed to legalize the use of cryptocurrencies in foreign trade and introduce relevant legislation. He added that regulators will strengthen oversight as the framework is implemented. — link

According to The Wall Street Journal, crypto trading firm FalconX has agreed to acquire 21Shares. Executives from both companies said the merged entity will focus on developing crypto funds based on derivatives and structured products. Deal terms were not disclosed, but the acquisition was financed through a mix of cash and equity. — link

QCP noted that the U.S. government shutdown has paused most official data releases, leaving September CPI — exceptionally set to be released by the BLS on Friday, October 24 — as the only key hard data for the Fed. A monthly CPI print around 0.2% could reinforce soft-landing expectations and boost Bitcoin performance. — link

Senate Democrats have demanded that Trump-appointed Middle East envoy Steve Witkoff explain why he still holds crypto assets while in public office, citing potential ethics violations. Witkoff retains stakes in World Liberty Financial, a crypto firm he co-founded with Trump. In May, the company facilitated a $2 billion investment from UAE’s MGX into Binance, paid in its stablecoin USD1. Lawmakers requested a formal response by October 31. — link

According to OnchainLens, wallets linked to the hacked mining pool Lubian have once again moved a large amount of Bitcoin, transferring 15,959 BTC worth approximately $1.83 billion to four different addresses. In 2020, Lubian claimed to have lost 127,426 BTC to a hacker attack, but it was later revealed to be an embezzlement scheme orchestrated by Chen Zhi. U.S. authorities subsequently traced the on-chain funds, obtained access to the relevant private keys, and successfully seized the assets. — link

According to the official page, Robinhood has officially listed BNB. BNB is the native cryptocurrency of the BNB Chain, used for transaction fees, staking, and governance within its ecosystem. — link

BNB will be available on coinbase․com, in the Coinbase app, and Coinbase Advanced. Institutions can access BNB directly via Coinbase Exchange.

Is ZK Dead or Will It Save Ethereum? Brevis Founder Michael on ZK's Future: Brevis founder Michael explained how the project uses ZK technology to enhance blockchain computing power, now integrated with PancakeSwap and Uniswap for features like volume recognition, incentive distribution, and private orders. He said ZK is entering its second wave, expanding from Rollups to broader applications in DeFi and AI. Brevis also launched its zkVM module, Pico Prism, to boost Ethereum scalability and enable real-time proofs. Read more — link

Real-time blockchain project MegaETH will launch a public sale on October 27 via Sonar on the Echo platform, starting at a $1 million FDV and capped at $999 million. The sale will use an English auction to sell 5% of total MEGA supply. MegaETH has raised $30 million to date from investors including Dragonfly and Ethereum co-founder Vitalik Buterin. — link

According to Bloomberg, cryptocurrency exchange Kraken (Payward Inc.) reported $648 million in revenue for the third quarter, up 114% year-over-year. The platform’s total trading volume reached $561.9 billion, while assets held on the platform rose 89% to $59.3 billion. The number of funded accounts grew 46% to 5.2 million. — link

Andreessen Horowitz (a16z) in its 2025 State of Crypto Report stated that annual stablecoin transaction volume reached $46 trillion (adjusted to $9 trillion), monthly active crypto wallet users ranged from 40 to 70 million, and blockchains are now processing over 3,400 transactions per second. The total crypto market capitalization has surpassed $4 trillion. a16z described the industry as moving from its “adolescence” into “adulthood.” — link

Following DraftKings’ acquisition of CFTC-regulated prediction market platform Railbird, Polymarket will serve as the designated clearinghouse for DraftKings’ upcoming prediction market. Polymarket founder Shayne Coplan said the move expands the platform’s B2B operations. Since September, Kalshi has surpassed Polymarket in sports betting volume, and both platforms recently signed multi-year licensing agreements with the NHL. — link

Prediction market platform Kalshi has received funding offers from venture capital firms valuing the company at over $10 billion, just weeks after it closed a $300 million round at a $5 billion valuation. In June, Kalshi had raised $185 million at a $2 billion valuation. — link

Hyperliquid Strategies Inc. has filed an S-1 registration statement with the U.S. Securities and Exchange Commission to offer up to 160 million shares of common stock through a committed equity facility with Chardan Capital Markets, seeking to raise as much as $1 billion. The company plans to use the proceeds for general corporate purposes, including potential purchases of HYPE Tokens. — link

Coinbase has launched “Payments MCP”, enabling large language models such as Claude and Gemini to perform wallet operations, fiat on-ramping, and stablecoin payments via natural language. Developed by the Coinbase Developer Platform, the tool supports local deployment and customization, aligning with the x402 Foundation—backed by Coinbase and Cloudflare—to standardize AI-driven payments and bridge mainstream LLMs with the crypto economy. — link