Live Feed

A wallet tied to crypto investment firm Abraxas Capital has recorded $193 million in cumulative profit and loss from trading perpetual futures on Hyperliquid, setting a record high. The wallet now has the highest cumulative perpetual futures profit on Hyperliquid. Still, the position is hedged with spot holdings, so the full $193 million should not be viewed as net realized profit. The wallet currently holds about $207.44 million in USDC, with cumulative trading volume of $5.43 billion and open interest of $725 million.

Hong Kong-based stablecoin payments firm RedotPay has acquired Japanese cryptocurrency exchange BTCBOX. Through the acquisition, RedotPay plans to offer crypto services that comply with local Japanese regulations. BTCBOX was founded in 2014 and was registered as a Japanese cryptocurrency exchange operator in September 2017. The exchange fully suspended services in January after a customer data leak and resumed them in stages from August. RedotPay plans to provide BTCBOX with funding and technical support.

Aave lowered the utilization threshold at which USDT borrowing rates begin rising sharply to 92% from 94% in the Ethereum core market. The utilization rate refers to the share of deposited USDT that has been lent out. Under the change, borrowing costs will climb faster once 92% of total deposits are loaned out. The structure can curb excessive borrowing demand by raising loan costs, while also encouraging additional inflows through higher deposit yields. At a 94% utilization rate, the annual borrowing rate rises to 7% from 4.5%, and it climbs to 14.5% if utilization reaches 100%. According to risk management firm LlamaRisk, lowering the threshold to 92% from 94% would leave about 57.84 million more USDT unlent, based on total deposits of about 2.8922 billion USDT.

Motley Fool, a U.S. investment research firm, said Solana is a more attractive investment than XRP, citing stronger network activity, transaction-processing capacity, and stablecoin usage. Solana processed 3.18 billion non-vote transactions in September, while stablecoin supply on the network stood between $17.3 billion and $17.5 billion and daily active stablecoin addresses reached 888,000, according to the firm. By contrast, XRP Ledger recorded 222.4 million transactions in the second quarter of this year, and its stablecoin market was valued at $1.11 billion.

Bloomberg said it has incorporated the Basel Committee on Banking Supervision’s crypto prudential standards into its cryptocurrency investment risk analytics service for banks and asset managers. The update allows financial institutions to identify and classify risk exposure not only from directly held cryptocurrencies, but also from indirect crypto investments made through funds, stocks, and derivatives. Users can also review the basis for each asset classification, with the related data available through the Bloomberg Terminal and the company’s enterprise data services.

Layer-1 blockchain Initia said an attack exploiting a script-caching bug in Initia’s MoveVM occurred at around 2:59 p.m. UTC on Oct. 23, according to the project’s official X account. The attacker bypassed security checks, forged the MoveVM state and allocated WETH, iUSD and USDC to the attacker’s own accounts without posting actual collateral, Initia said. It added that the total supply of those tokens did not change, no native INIT tokens were minted and INIT’s total supply was unaffected. Before the network was halted, the attacker bridged out assets worth about $2.7 million, including 105 WETH and about 1.4 million AUSD0 through LayerZero and about 1.08 million USDC through Noble and CCTP, the post said. The stolen funds were then swapped into 1,135.52 ETH and are now being held at an Ethereum mainnet address beginning with 0x358. Initia said the team is applying a security patch for the vulnerability and expects to complete the work and an audit within days. It added that recovery efforts are underway with security partners. Initia’s L1 and rollups remain offline, and the team plans to release a post-incident analysis report after the network safely resumes.

Crypto analyst Doctor Profit said long positions in Bitcoin should be accumulated whenever the price reaches a supply-zone range near $80,000. Doctor Profit added, "개인적으로 8만 달러 부근 매물대에 닿을 때마다 매수하고 있다. 해당 구간은 패닉셀을 위한 것이 아니라 추가 매수를 위해 존재한다".

A total of 46,928.46 BTC flowed into major centralized exchanges over the past seven days, according to CoinGlass. By exchange, Binance recorded the largest net inflow at 37,394.58 BTC, while Kraken and Coinbase Pro saw net inflows of 3,019.97 BTC and 1,447.9 BTC, respectively.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.48% long, 50.52% short - Binance: 48.96% long, 51.04% short - Bybit: 47.51% long, 52.49% short - Gate: 49.44% long, 50.56% short

BitMEX co-founder and Flop Labs CEO Arthur Hayes sold about $22.28 million worth of altcoins, according to on-chain records. Hayes made multiple transfers today to OTC desks including Flowdesk, FalconX and Wintermute, depositing 6,400 ETH worth about $15.2 million, 14 million ENA worth about $2.76 million, 323,000 UNI worth about $2.24 million, 1.89 million ETHFI worth about $1.23 million, 546,609 AERO worth about $398,000, 120,000 PENDLE worth about $244,000 and 3 million ZAMA worth about $214,000. Deposits to trading venues are typically seen as sales-related transfers. Hayes said he had taken profits on all directional positions held by his fund Maelstrom, including ETH, ENA, UNI and other altcoins. Hayes added that a pullback appeared necessary before further gains and said macroeconomic and geopolitical conditions looked unstable, prompting him to wait on the sidelines for a clearer signal.

Franklin Templeton added about $150 million worth of shares in its tokenized money market fund to the XRP Ledger, CoinDesk reported. The move increased sgBENJI, the fund’s token on XRPL, to about 193 million from roughly 48 million. Based on a per-share price of $1.039 recorded in trading on Oct. 22, the total value is about $200 million. All sgBENJI on XRPL is currently held in a single wallet, although it has not been confirmed whether the wallet holds assets for a single investor or pools assets from multiple clients. sgBENJI represents shares in a fund that invests in short-term U.S. dollar-denominated debt securities and money market instruments.

Crypto asset manager Grayscale said in a recent report that rising token supply at some cryptocurrencies could erode the economic benefits passed on to holders. Grayscale presented a valuation framework that evaluates both protocol revenue and the scale of value returned to token holders. Under the framework, token holder yield is calculated by adding staking rewards and buybacks, subtracting the value of newly issued tokens, and dividing the result by circulating market capitalization. Among the protocols covered in the analysis as of Oct. 20, HYPE posted the highest token holder yield at 8.0%, while CRV had the lowest at -5.5%. On an adjusted yield basis, CAKE ranked first at 14.4%. Grayscale added that new token issuance and unlocks can offset the effects of buybacks and staking rewards, and said protocol revenue should be assessed separately from the economic benefits attributable to token holders.

Bitdeer said it sold all 283.4 BTC it mined this week. The company reduced its Bitcoin holdings to zero on Feb. 20 and has since continued to liquidate all newly mined BTC into cash.

BitMEX co-founder and Flop Labs CEO Arthur Hayes said in a recent interview that tokens with high fully diluted valuations and low circulating supply structures are being shunned by investors and are now hard to pump even on Binance. Hayes added that the crypto industry has long exploited tokenomics, with some projects raising development funding through ICOs, VC private sales and presales, then selling their holdings after protocol launches and token unlocks, leaving retail investors with losses. At the same time, Hayes said projects such as Hyperliquid (HYPE) have achieved real product-market fit, return revenue to token holders and can avoid selling pressure tied to large token unlocks.

Weekly notional trading volume in cryptocurrency-related event contracts on major prediction market platforms Kalshi and Polymarket reached a record $2.7 billion last week, Bloomberg reported. Short-term contracts tied to whether assets such as Bitcoin would rise or fall after a set period led trading activity, with per-contract volume on Kalshi's 15-minute Bitcoin price prediction contracts at times exceeding $1 million. Trading volume in longer-dated crypto prediction markets also increased noticeably. Kalshi's year-end Bitcoin price prediction contract recorded $42 million in volume, while Polymarket's comparable year-end Bitcoin contract reached about $78 million.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $90.87 million liquidated (89.3% longs) - IRYS: $68.55 million liquidated (86.4% shorts) - ETH: $60.91 million liquidated (82.6% longs)

Crypto exchange HTX has added Russia to its list of restricted jurisdictions. Under revised terms of service, Russian users and companies operating locally may face service restrictions, and HTX may take steps including account closures and withdrawal limits. HTX did not disclose when the restrictions will take effect or whether existing users will be given a grace period. Earlier, Bitget added Russia, Belarus and Kazakhstan to its prohibited service regions and advised users to withdraw assets by Oct. 21, while MEXC said it would exit the Russian and Belarusian markets from Oct. 20 for regulatory compliance.

More than $200 billion has been wiped from the total cryptocurrency market capitalization in less than a month as of today, Cointelegraph reported, citing CoinMarketCap data. The total crypto market cap currently stands at around $2.7 trillion, according to CoinMarketCap.

U.S. spot Ethereum ETFs recorded $4.35 million in net inflows on Oct. 23, according to SoSoValue. - Fidelity FETH: +$3.58 million - Morgan Stanley MSSE: +$770,000

U.S. spot BTC ETFs recorded $137.94 million in net outflows on Oct. 23, marking a second straight trading day of net redemptions, according to SoSoValue. - BlackRock IBIT: -$110.34 million - Fidelity FBTC: -$31.78 million - Morgan Stanley MSBT: +$4.19 million

An early Ethereum investor deposited 1,000 ETH, worth about $2.4 million, to Kraken six hours ago, according to Lookonchain. The investor bought 100,000 ETH at $0.31 during the Ethereum ICO. Exchange deposits are generally seen as a sign of intent to sell.

Kraken co-CEO Arjun Sethi said on X that Kraken will continue listing Monero (XMR) and supporting withdrawals. Sethi said Kraken had sent emails to customers who bought Monero and withdrew it, asking about their employer, source of funds and planned use of the coins, but the exchange has withdrawn that request. He said the request was not required under relevant regulations and that treating a younger customer as a risk signal simply because the customer held a large amount of funds was a mistake. He added that verifying the source of funds is legitimate for compliance with AML rules, but asking how withdrawn coins will be used is inappropriate.

South Korean exchange Upbit announced the addition of Bubblemaps (BMT) for trading against the Korean won at 3:00 a.m. UTC today.

A Chinese man in his 40s has been extradited from the Netherlands to the U.S. over allegations that he took part in a global cryptocurrency investment fraud targeting 174 U.S. citizens, according to the U.S. Department of Justice. The DOJ said the suspect was tied to a Cambodia-based fraud ring that approached victims through social media, phone calls, text messages and dating apps, then steered them to fake websites designed to mimic legitimate exchanges. Investigators found the group laundered victim funds through U.S. shell companies and offshore bank accounts, transferring more than $36.9 million into a single account at Deltec Bank in the Bahamas before converting the money into USDT and moving it to wallets in Cambodia. Eight co-conspirators have already pleaded guilty, and the defendant remains in custody ahead of an arraignment on Nov. 30. If convicted, the suspect could face up to 20 years in federal prison. The case remains at the charging stage, and the presumption of innocence applies.

Yu Xian, founder of blockchain security firm SlowMist, warned on X that iPhone users should watch for targeted cryptocurrency attacks using DarkSword. Yu said attackers could exploit iOS vulnerabilities to bypass security sandboxes and steal sensitive information such as passwords stored in Keychain, wallet private key files saved on devices, and notes. Yu urged users to update iPhone and iPad operating systems to the latest version and stay alert to the possibility that installed apps may have been infected with malware.