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Sonic said on its official X account it plans to move around 13 million S, worth about $720,000, within the next 24 to 48 hours as part of a strategic over-the-counter deal. The layer-1 project said the token transfer is tied to a strategic OTC agreement with a long-term partner, which is expected to use its own network to strengthen Sonic’s ecosystem reach and boost user engagement. Details including the counterparty’s identity and the size of the agreement were not disclosed.

Circle’s Arc chain has launched Arc Portal, an ecosystem hub where users can swap and transfer assets, generate yield, and explore applications across the ecosystem. It also supports AI agent enablement, allowing users to directly set spending limits and permissions for AI agents.

South Korea’s Financial Supervisory Service said today that a case recently emerged in which scammers created a fake network resembling GIWA, a blockchain network under development by Dunamu, and stole users’ virtual assets. The agency said the group spread false claims such as a “mainnet surprise launch” through social media and online communities to lure investors, even though there had been no official announcement from the actual developer. It added that DYOR Swap, a decentralized exchange, mistakenly supported the fake network as if it were real, leading users to deposit Ethereum through a fake bridge, after which the scammers withdrew the transferred assets in a lump sum. The Financial Supervisory Service said that in on-chain virtual asset scams, fund transfers and theft can take place within minutes to hours, and damage recovery is extremely difficult.

An anonymous whale believed to be an institution sold 246.2 BTC for $20.36 million and used the proceeds to buy 10,636 ETH, EmberCN reported. Since Oct. 11, the whale has sold 1,847.3 BTC to secure $153 million in USDC and has redeployed those funds to buy 63,731 ETH at an average purchase price of around $2,400.

The PHP Foundation acknowledged delays in fixing a critical security vulnerability first identified in 2024 and described the lapse as an organizational structural failure, Cointelegraph reported. In a statement released after distributing an emergency security patch on Oct. 21, local time, the foundation said decision-making problems in its security response process and a shortage of developers delayed the fix for an extended period. The two vulnerabilities identified this time involve flaws that could let attackers remotely execute code on affected servers without any separate login or authentication. According to the foundation, developers first detected signs of the issue in 2024 but struggled to devise a solution while weighing the impact on the PHP-based software ecosystem. The foundation added that Calif and OpenAI independently reported the same underlying issue on Aug. 11, local time, and Calif demonstrated that unauthenticated remote code execution was possible, raising the priority of the response. As security concerns spread, some government websites and online services in European countries including the Netherlands, Finland, France and Germany were temporarily suspended. Australia’s government cybersecurity website was also found to have been affected. Separately, Binance founder Changpeng Zhao said some website operators may not have applied the security patch and urged users to be cautious when accessing websites over the next few days.

Cardano-based DeFi protocol Genius Yield is moving toward a shutdown, developer Lars Brünjes said on X. The Genius Yield team has released Genius Zero, an open-source web application designed to support user asset withdrawals and reward claims. The tool interacts directly with smart contracts in a browser without relying on Genius Yield’s backend servers, allowing users to withdraw staked assets and create or cancel DEX orders. Reward claims, however, require a separate co-signing service, and only rewards with on-chain funding can be claimed.

The Bank of Korea held its benchmark interest rate at 3.00% after raising it preemptively for two straight meetings in July and August to address inflation risks. The central bank’s Monetary Policy Board is scheduled to make this year’s final rate decision on Nov. 26.

Pump.fun announced the launch of its in-house cross-chain bridge, Pump Bridge. In a post on X, Pump.fun co-founder and COO Alon said Pump Bridge executes buy orders about twice as fast as Relay, a legacy cross-chain service provider, while cutting transaction error rates by about 92% to under 1% from more than 11%. Alon added Pump Bridge delivers better execution, allowing users to buy more tokens on average with the same funds, and currently charges no additional cross-chain fees.

CoinMarketCap’s Altcoin Season Index came in at 59, down one point from yesterday. The index compares the price performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped coins, against Bitcoin. An altcoin season is identified when 75% of the top 100 coins outperform Bitcoin over the past 90 days, while the opposite is considered a Bitcoin season. A reading closer to 100 indicates stronger altcoin season conditions.

The Cardano Foundation urged the European Union to address flaws in its existing Markets in Crypto-Assets regulation, or MiCA, before introducing new rules for DeFi and staking, Cryptopolitan reported. In a statement released on Oct. 21, the foundation said providers should not be treated as financial service firms solely because they offer services on public blockchains, and argued that instead of creating a new regulatory framework, existing laws should apply to businesses that actually provide financial services or manage customer assets. The foundation had previously told the European Commission in September, during a consultation on related regulations, that it opposed separate rules for DeFi and staking.

Crypto custody firm BitGo said on Oct. 21 it launched BitGo Labs, a research organization focused on developing next-generation applications in digital assets. In its early stage, BitGo Labs plans to focus on research into the convergence of artificial intelligence and cryptocurrencies.

Aerodrome and Velodrome have merged to launch Aero, a spot exchange supporting seven networks, The Block reported. The exchange supports the Ethereum mainnet, Base, Robinhood Chain, Ink, the Optimism mainnet, Arc and Arbitrum. Existing AERO and VELO tokens will migrate to the new AERO token, while wrapped tokens will also have a separate migration option. Aero includes a feature that lets AERO stakers allocate liquidity to markets expected to generate returns, a metaswap function linking trades across networks, and a mechanism that raises fees during periods of fast market volatility. All revenue will be returned to AERO stakers.

CoinMarketCap’s in-house Crypto Fear and Greed Index rose three points from yesterday to 54, indicating sentiment improved slightly while remaining in the neutral zone. A reading closer to zero signals extreme fear in the market, while one closer to 100 points to extreme optimism. CoinMarketCap calculates the index based on price movements among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators including the put-to-call ratio, the stablecoin supply ratio, or SSR, and CoinMarketCap’s own search data.

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the volume heatmap, while the lower section shows cumulative volume delta, or CVD. - The volume heatmap in the upper section tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance levels. - The cumulative volume delta indicator in the lower section reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Kim Min-seok, leader of South Korea’s ruling Democratic Party, said a conclusion should be reached this year on whether to proceed with virtual asset taxation as planned or revise the system. Appearing on the Democratic Party’s YouTube program "Minti 07" today, Kim said it was time to begin focused discussions on whether to keep the tax plan unchanged or pursue institutional revisions. Kim added that, under the current principle, the plan remains in place, but growing public debate and a range of opinions mean the issue should be reviewed closely before a final decision is made this year. Kim also said the key questions were whether market conditions were sound, what younger people were saying, and whether the tax system was fully in place, adding that the current environment was not one for weighing tax revenue.

U.S. President Donald Trump did not directly use the term crypto at a White House cybercrime meeting on Oct. 21, Cointelegraph reported. Trump said Americans lost more than $20 billion to cybercrime in 2025, including impersonation scams and ransomware attacks, and said federal authorities had frozen $1 billion in "cybercurrency" tied to overseas fraud rings. Trump also said an executive order issued in March had helped prevent $1.6 billion in cybercrime losses from reaching criminals. According to the report, neither Trump nor Attorney General Todd Blanche used the terms 'cryptocurrency' or 'digital assets' during the meeting. Some media outlets had earlier expected the meeting to focus on enforcement results against overseas virtual-asset scam groups.

Matter Labs, the developer of Ethereum layer-2 zkSync, said in an official blog post on Oct. 21 that it plans to launch Prividium Commander, a platform designed to support financial institutions in launching and operating digital asset services. The platform is designed to let financial institutions manage digital asset issuance and transfer permissions, keep records of approved and rejected transactions, and integrate with existing systems without having to develop and maintain separate operating software. Matter Labs said it plans to use the launch to expand its institutional client base among banks, asset managers, and exchanges, while broadening use cases across the zkSync ecosystem.

The average acquisition cost for companies pursuing Bitcoin treasury accumulation strategies is around $80,000, on-chain analytics firm Glassnode said on its official X account. Glassnode added that those companies have now moved into profit, although the scale of additional buying remains limited. If Bitcoin rises further, the share prices of companies holding the asset could also climb, which may allow them to raise more funds through stock issuance and buy more Bitcoin. That, in turn, could support both Bitcoin prices and those companies’ stocks, although current corporate buying activity remains restrained.

Decentralized perpetual futures exchange Extended announced it will migrate its infrastructure blockchain from Starknet (STRK) to Circle’s layer-one Arc at 1:00 p.m. UTC today. Most users will be able to complete the migration without taking any action. Accounts, positions, order history, trading records and points will remain unchanged, while USDC will be migrated to native USDC and ETH will be converted to wETH at a one-to-one ratio. However, users with any sub-account holding more than $1 in USDT or wBTC must approve an asset conversion in the app or withdraw those assets by 12:00 p.m. UTC on Oct. 21. Under the conversion, USDT will be changed to USDC and wBTC to Circle’s Bitcoin-pegged token cirBTC, each at a one-to-one ratio, with no swap fee.

Matt Cole, CEO of Bitcoin treasury company Strive, said in a recent interview with Bitcoin Magazine that a Bitcoin "gold rush" is underway and market participants are trying to secure as much BTC as possible. Cole added that a debt crisis is unfolding and countries are likely to print more money, prompting Strive to position itself at the center of a new monetary ecosystem. He also said fresh capital from a range of funding sources is flowing into the Bitcoin market, a shift he said will fundamentally change Bitcoin’s role and how it functions going forward.

Bitcoin has tended to move in the opposite direction when retail investor optimism or pessimism on social media reaches extremes, according to analytics firm Santiment. Santiment said bullish Bitcoin calls surged across social media platforms including X, Reddit and Telegram on Sept. 20, but the price later fell. By contrast, after bearish expectations peaked on Oct. 15, Bitcoin rebounded, Santiment said. The firm added that tracking points when investor sentiment reaches extremes through social media data as a daily contrarian indicator could help identify potential market opportunities.

Tesla did not sell any Bitcoin in the third quarter and continued to hold 11,509 BTC, according to the WatcherGuru X account. The holdings are currently valued at about $972 million. Tesla had said when it reported second-quarter 2022 results that it converted $936 million worth of BTC into cash. Since then, it has maintained the same holdings for about four years.

The three major U.S. stock indices closed higher today. - S&P 500: +0.59% - Nasdaq: +1.05% - Dow Jones: +0.69%

Alex Gluchowski, CEO of zkSync developer Matter Labs, said the main reason banks have struggled with blockchain is not the technology itself but system-level issues, Crypto Briefing reported. Gluchowski said banks have spent years experimenting with blockchain, but very few efforts have led to products real customers use, citing operational problems such as issuance controls, transfer processing methods, audit requirements, and compliance workflows.

A Colombia-based cryptocurrency broker has been sentenced to 160 months in prison on charges tied to laundering drug trafficking proceeds through Tether (USDT) and participating in a plan to smuggle cocaine into the United States, The Block reported, citing the U.S. Department of Justice. According to the U.S. Department of Justice, the individual and five accomplices helped launder about $14.5 million in USDT from May through November 2023 using cryptocurrency accounts, shell companies, and fund transfers between the United States and Colombia. The court also ordered the forfeiture of $14.75 million and cryptocurrency held in four crypto addresses.