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Major exchanges have seen $136 million worth of futures liquidated in the past hour. In the past 24 hours, $242 million worth of futures have been liquidated.

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Franklin Templeton said on X it is hiring for several cryptocurrency-related roles, including head of digital asset product strategy, head of Franklin Crypto capital formation, head of Franklin Crypto private credit, digital audience engagement manager, and VP of business development for crypto markets.

New investors have accumulated about 570,000 BTC since late July despite selling pressure from ETFs, according to Bitfinex. Their average purchase price was about $75,000.

Bulgaria’s fourth-largest lender, Postbank, plans to let customers buy cryptocurrencies, stocks and gold directly through its banking app starting in early 2027, Cointelegraph reported. Postbank became the second Bulgarian bank to introduce the related service this month.

Former Ripple CTO David Schwartz warned users to stay vigilant after spotting a suspicious notification that appeared to come from the SecuX wallet app, according to U.Today. Schwartz said the alert warned of a security vulnerability in the wallet and urged users to enter their recovery phrase. The notification said a critical vulnerability had been found in the SecuX wallet and user funds could be at risk, while also providing a link. Schwartz said tapping the alert opened the app normally, but checking the notification log later showed the link led to a phishing page requesting a 12- or 24-word phrase. A wallet recovery phrase is sensitive information used to restore a wallet and access its assets. Schwartz warned that anyone who obtains that phrase can restore the wallet and drain the funds, urging users never to enter it or share it with others.

Ki Young Ju, CEO of CryptoQuant, said the TRUMP team took in $779 million to $1.16 billion from buyers, while the value of those buyers’ assets fell 97%.

Uniswap recorded about $14.81 million in protocol revenue in September, its highest monthly total on record, Crypto Briefing reported. Robinhood Chain, a layer-two network launched on July 1, accounted for about $7.8 million, or 53% of the total. Whether that growth can continue remains uncertain. In early October, Robinhood Chain’s daily transaction count fell more than 40% from its September peak, and Uniswap’s revenue could also come under pressure if trading activity on the chain slows further, given the concentration of revenue on a single network.

BitTorrent said it has officially completed its brand revamp and finished its regular first-quarter BTT buyback and burn, using 100% of third-quarter revenue from centralized services for the BTT repurchase and permanent burn. The burn totaled about 21.62 trillion BTT, worth roughly $7.6 million at the time. Following the revamp, BitTorrent will operate as a single core brand integrating content distribution, decentralized AI inference computing services, and layer-two infrastructure. The company said it plans to build an integrated service ecosystem spanning Web3 and AI.

A Bank for International Settlements working paper found that higher deposit rates at U.S. banks are associated with slower growth in the market capitalizations of stablecoins such as USDT and USDC. The researchers analyzed weekly data from January 2019 through June 2025 while accounting for Bitcoin prices, U.S. Treasury yields and broader financial conditions. They estimated that when the average bank deposit rate rises by one basis point, the average 10-week stablecoin market cap growth rate slows to around 12% from about 15%. In an estimate that also reflected the effect of banks adjusting deposit rates in response to stablecoin growth, the growth rate slowed to about 6%, although the researchers said that approach has limitations. In both cases, stablecoin market capitalization did not shift into contraction. The relationship between rates and growth was more pronounced for Circle’s USDC than for Tether’s USDT, which the researchers said is consistent with USDC being relatively more closely tied to U.S. users. They added that the sample included only one high-rate period, while the spread of yield-bearing stablecoins and tokenized money market funds could change the results going forward. The paper concluded that banks can exert some influence over the pace of stablecoin adoption through deposit rate policy.

Solana said third-quarter app revenue rose 48% from the previous quarter to $299.1 million, the highest level since the third quarter of 2025. Stock tokens reached $7.1 billion, also a record high. Solana’s spot decentralized exchange trading volume totaled $197.2 billion, while third-quarter transaction throughput hit a record 14.2 billion transactions.

The Arbitrum Foundation announced a 2 million ARB incentive program to expand the USDG stablecoin ecosystem. The Stablecoin Growth Program targets protocols with at least $1 million in stablecoin balances and is designed to encourage participating projects to adopt USDG as a core stablecoin on Arbitrum One. The foundation plans to award up to 200,000 ARB each to the first 10 projects whose 30-day average USDG balance reaches $10 million. Eligible categories include decentralized exchanges, lending and borrowing protocols, yield products and vaults, and payment and settlement protocols. Applicants must already be operating on Arbitrum One or plan to deploy on the network, and must have completed a third-party security audit.

BitMEX co-founder Arthur Hayes said on Luke Martin’s “Convergence” podcast on Oct. 16 that AI model companies such as OpenAI and Anthropic lack profitability and are deploying capital poorly, reiterating his view that a bigger AI bubble could lead to larger future bailouts and lift Bitcoin’s price. Hayes argued the companies are raising funds through debt and equity issuance without generating profits, while continuing to waste capital with implicit backing from the U.S. government. He added that if stress in the AI industry deepens and the government steps in with a rescue, Bitcoin could benefit in that process.

On-chain analyst Darkfost pushed back on Bloomberg’s view that Bitcoin could fall to $10,000 if U.S. stocks drop 20%, saying the scenario is unlikely. Darkfost said a fall to $10,000 from current levels would imply a drop of 92% from Bitcoin’s peak and 87% from its current price. Darkfost added that, in Bitcoin’s history, a decline of more than 92% occurred only once, in 2011, when its market capitalization was just $117 million and it fell 92.9%. With Bitcoin now at a much more mature stage and a market capitalization of $2.45 trillion, Darkfost said such a move is highly unrealistic. Darkfost also said that when the S&P 500 corrected 19.5% in 2018, BTC fell 80% to $3,800, but during a 19% stock-market correction in April 2025, Bitcoin fell only 22%, which showed stronger downside resilience.

TRON ecosystem DeFi protocol JUST DAO said it has completed its fifth JST token buyback and burn, bringing the total number of JST burned to 170,723,144.

Coinbase’s outstanding balance of Bitcoin-backed USDC loans reached $2.3 billion as of Oct. 17, following the product’s launch in January 2025. The service lets users borrow USDC by posting Bitcoin as collateral without selling their BTC. It runs on infrastructure from Morpho, a decentralized lending protocol on the Base network, and loan demand surged after fixed-rate loans through Morpho Midnight were added in September.

Bitmine Chairman Tom Lee said in a recent CNBC interview that he is strongly bullish on cryptocurrencies, including Bitcoin, as well as the semiconductor and neocloud sectors. Lee said assets in those sectors have completed a pullback to key support levels, while fundamentals remain intact, creating a highly favorable risk-reward setup amid market fear. He specifically described the current range as a promising zone where investors should be ready to hit the "buy" button. Experts are also watching for potential dip buying by institutional-scale market participants near support levels as sentiment weakens on recent macro headwinds and concerns that high interest rates may stay elevated for longer.

A whale address on decentralized futures exchange Hyperliquid has built a large Bitcoin short position worth about $60 million, ChainCatcher reported. According to Liquid247.xyz, the address 0x3ff54f…f705 held a BTC perpetual futures short position totaling 731.145 BTC as of Oct. 17, with a notional value of about $59.72 million.

Bitget said on Oct. 17 it will gradually carry out a one-time suspension of service support for certain users as part of regulatory compliance and business adjustments. In a post on its official X account, the global crypto exchange said affected users are being notified directly by email and in-app alerts about withdrawal procedures and expiration deadlines. Users who have not received a separate notice can continue using the exchange normally, while trading functions and the safety of user funds will remain fully assured during the service adjustment period.

Court documents show Telegram provided U.S. investigators with personal details and access records tied to a specific user in response to a valid legal request from a U.S. federal court. According to the disclosed filings, Telegram submitted the account’s phone number, user ID, profile display name, last login IP address and timestamp in September 2026. Telegram said the cooperation was a voluntary submission and did not amount to recognizing U.S. judicial jurisdiction, while no message content or contact list information was included. The company revised its privacy policy in September 2024 to state that it may provide IP addresses and phone numbers in criminal investigations, and it processed about 900 requests from U.S. investigators covering 2,253 users in 2024.

Anthropic’s AI model Claude identified in 30 minutes the origin of a cryptographic random seed that the U.S. National Security Agency sent to NIST in the 1990s and that had long faced suspicions of a hidden backdoor. Bitcoin is unrelated to the issue because it uses its own curve, secp256k1, rather than the NIST curve in question, CoinDesk reported, citing experts. The outlet added that quantum-computing decryption risks are a separate issue and that the clarification does not require changes to existing ECDSA cryptographic systems.

BTC continues to show stronger bid-side depth in Binance’s perpetual futures market, according to Liquid247.xyz. Buy orders in the Binance BTC perpetual futures order book totaled about $39.17 million, compared with about $37.48 million in sell orders, leaving the bid side roughly $1.69 million thicker. Spot markets also showed a buying bias, though overall order-book liquidity remained minimal compared with the futures market.

Stablecoin market capitalization held around $302.9 billion during the 2026 crypto downturn, while actual payment volume surged 45% year over year to $482 billion. According to Allium data, third-quarter payment volume reached a record $72 billion, with business payments accounting for 64% of the total. Usage of stablecoin payment cards for small purchases under $50 increased 10-fold, driving deeper adoption in the real economy. Experts said regulators’ bans on interest payments, including under the U.S. GENIUS Act and EU rules, remain a bottleneck limiting overall supply growth despite broader payment utility. JPMorgan analyzed that market expansion through 2028 would be constrained without yield incentives tied to RWA-linked interest income.

OKX founder and CEO Star Xu said in a podcast interview that Bitcoin and the crypto industry have repeatedly overcome crises, proving their structural resilience. Xu cited Bitcoin’s early hard forks and hash-power attacks, the collapse of Mt. Gox, the block-size scaling dispute, and the FTX bankruptcy as representative moments when the industry came close to collapse. He said each cleanup took months or more than a year, but after every downturn and resolution, the ecosystem reemerged as a much larger, safer, and more sophisticated financial infrastructure.

U.S. spot Ethereum ETFs recorded a net outflow of $69.7 million on Oct. 16, marking a third straight day of net withdrawals, according to Farside Investors. - BlackRock ETHA: -$69.7 million