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U.S. spot Bitcoin ETFs recorded $89.8 million in net outflows on Oct. 5, according to Farside Investors. - BlackRock IBIT: +$69.9 million - Fidelity FBTC: -$74.5 million - ARK Invest ARKB: -$85.2 million

Polymarket protocol lead Rajath Alex has unveiled protocol V2, which will replace the platform’s existing Gnosis CTF-based architecture introduced in 2019, according to Wu Blockchain. V2 will include a multi-oracle aggregator supporting UMA and Chainlink, as well as cross-chain bridging. Polymarket plans to conduct testing from Oct. 5 to Oct. 30 before fully migrating to V2 on Nov. 2.

Roman Storm, co-founder of Tornado Cash, said on X that the U.S. Attorney’s Office for the Southern District of New York submitted a new letter to the court and that the U.S. Department of Justice is still pursuing a conviction against him. Storm criticized the DOJ’s position, saying that unlike the U.S. Treasury Department’s recent acknowledgment that mixer-related rules could chill lawful activity, the DOJ still views transactions passing through Tornado Cash as illegal on the grounds that they facilitated money laundering and sanctions evasion, even when the transactions were legitimate. Storm added that what he described as a crypto war against developers and open source is still continuing.

South Korea’s major cryptocurrency exchanges paid a combined 1.35143 billion won ($977,000) in levies over the past five years for failing to meet mandatory hiring quotas for people with disabilities, the Busan Ilbo reported. According to data lawmaker Park Dae-chul of the ruling People Power Party, a member of the National Policy Committee, received from five exchanges — Upbit, Bithumb, Coinone, DigitalX and Gopax — the exchanges paid 1.35143 billion won between 2021 and 2025. The levy applies when workplaces above a certain size fail to meet the mandatory employment rate for people with disabilities, which stands at 3.10% this year. Dunamu, the operator of South Korean exchange Upbit, paid the largest amount at 723.09 million won ($523,000).

Crypto exchange OKX has launched OKX Money, a stablecoin savings and payments app, in parts of Latin America, Africa, South Asia and the Middle East, and will offer up to 10% annual percentage yield, or APY, on USDG balances for eligible users, Cointelegraph reported. OKX said yields and eligibility terms vary by region and user, and did not disclose the initial launch countries. Earlier, OKXICE, a joint venture between OKX and New York Stock Exchange parent ICE, submitted an application to the U.S. SEC to launch a tokenized securities exchange.

Stablecoin payments infrastructure provider Rain has applied to the U.S. Office of the Comptroller of the Currency to establish a New York-based national trust bank, Rain National Trust Bank, Cointelegraph reported. If approved, the bank would be able to provide digital asset custody for institutions, manage reserves for stablecoin issuers, and handle U.S. dollar stablecoin issuance and redemption. Stablecoin issuance and redemption must comply with the GENIUS Act.

A crime group with Chinese roots laundered more than $1 billion in cryptocurrency stolen by North Korean hacking group Lazarus, on-chain analyst ZachXBT said, according to Cointelegraph. ZachXBT said ZachXBT infiltrated the laundering group after the Bybit hack in February 2025 by posing as a paying client, and spent $349,700 in stablecoins while accepting a 5% loss on each trade order to gain the trust of one of the operation’s organizers, Jimmy Green. ZachXBT added the group operated in Hong Kong and mainland China, and said information provided by the launderers helped identify more than $12 million in funds tied to the Bybit case. Tether later froze $442,000 in related USDT, the outlet reported.

Key Bitcoin market indicators continue to point to strength, but a sustained recovery in spot buying remains the main outstanding variable, on-chain analyst Darkfost said on X. Darkfost said the Bull Score Index, a gauge of market strength, currently stands at 80 out of 100 and remains in bullish territory. Multiple indicators are supporting BTC’s upward trend, Darkfost said, but spot-market trading volume and buying demand have not yet increased enough. Darkfost added that the final element needed to complete Bitcoin’s bullish trend is a recovery in spot demand, with any increase in spot volume and real buying pressure likely to be a key variable for judging the market’s next move.

Tether-to-won trading pairs ranked among the top trading pairs on four of South Korea’s five major won-based exchanges over the past 24 hours, Etoday reported, citing CoinGecko data. The pair accounted for 67.62% of total trading value on DigitalX, 21.06% on GOPAX, 12.27% on Coinone, and 11.08% on Bithumb. It ranked first on DigitalX and Bithumb, second on GOPAX, and third on Coinone. On Coinone, the won trading pair for another dollar-pegged stablecoin, USDC, ranked first with a 28.49% share of trading value. Separately, South Korea’s Financial Intelligence Unit under the Financial Services Commission found that the domestic market’s average daily trading volume in the first half fell 44% from the second half of last year to 3.1 trillion won ($2.3 billion). Won-denominated deposits also dropped 35% to 5.2 trillion won ($3.8 billion) at the end of June from 8.1 trillion won ($5.9 billion) at the end of last year.

Jack Yi, founder of crypto-focused investment firm LD Capital, argued exchanges should make project credibility a key listing review criterion. Tagging Binance co-founders Changpeng Zhao and He Yi in an X post, Yi said many projects fail to honor commitments by blocking withdrawals of users’ deposited BTC, arbitrarily deducting investors’ tokens, or forcing changes to terms and conditions, creating trust risks for venture capital firms, key opinion leaders, and secondary-market investors alike. Yi added that in traditional stock markets, companies involved in fraud face penalties or delisting rules. Yi also said LD Capital has recently been actively seeking listed token projects that are profitable, capable of buying back tokens, and highly credible.

Strive Chief Risk Officer Jeff Walton said structured finance could drive Bitcoin to $1 million. In a post on X, Walton argued "BTC is the most flexible financial asset ever created. New combinations, financial tools, and use cases continue to emerge, and humanity and superintelligence (AI) have only tapped a tiny fraction of its potential so far." Separately, Strive is pursuing share buybacks of up to $500 million in SATA preferred stock and held 29,462 BTC as of Oct. 2.

A whale address that had been inactive for more than a year sold 37.725 million ENA worth $9.25 million on Bitget over 12 hours, according to Lookonchain. The address still holds 119.82 million ENA, worth about $29.6 million.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $61.73 million liquidated (75.17% longs) - ETH: $24.15 million liquidated (61.14% longs) - ZEC: $7.13 million liquidated (65.9% longs)

Bitcoin treasury company Strive plans to launch a buyback program for its floating-rate perpetual preferred stock, SATA, of up to $500 million, CryptoSlate reported. According to a filing with the U.S. SEC, the amount exceeds Strive’s $284.7 million cash balance as of Oct. 2, but the company is not required to execute the full $500 million, and it did not disclose specific funding methods or a timeline. Buying back and retiring the preferred shares could reduce future dividend obligations, while also leaving less cash available for additional BTC purchases. Strive held 29,462 BTC as of Oct. 2.

Binance founder Changpeng Zhao denied allegations of improper dealings involving World Liberty Financial, the Trump family’s DeFi project, The New York Times reported. Zhao pushed back on a Wall Street Journal report that Binance had asked Abu Dhabi investment firm MGX to use World Liberty Financial stablecoin USD1 to pay its investment. Zhao said MGX decided how to make the payment and that the only consideration was using a reputable stablecoin that would not disappear overnight. Zhao added there was nothing improper. On President Donald Trump’s pardon, Zhao said his lawyers had regularly updated him on the process, but described it as a "black box" to him. Zhao also said Forbes overstated his wealth at more than $100 billion, putting his actual net worth at around $10 billion to $30 billion.

Bitcoin layer-two platform Stacks said its second BTC staking period, Bond 2, is set to begin around Oct. 10. Bond 2 will be the first bond period in which most of the total capacity is allocated to liquid staking. StackingDAO will handle most of the staking volume, while Xverse and 21Shares will also participate. The BTC deposit deadline is Bitcoin block 970,450. Stacks said its BTC staking operates through two models: pooled liquid staking and direct custody. Under liquid staking, deposited BTC is converted into sBTC on a one-to-one basis on Stacks, and participants receive stBTC representing their staking position. The direct-custody option is available only to whitelisted participants, with a minimum commitment of 50 BTC.

Google Cloud will discontinue its Blockchain Node Engine and Blockchain RPC services in December, Digital Asset reported. After the shutdown, currently operating nodes and RPC endpoints, or blockchain node access addresses, will also be deleted. Blockchain Node Engine is a fully managed service Google Cloud has provided to help companies and developers run blockchain nodes without building and managing servers directly. It has supported JSON-RPC and WebSocket endpoints used to query blockchain data and send transactions.

Binance-backed prediction market platform Predict.fun posted a teaser suggesting a token launch. On X, the platform shared an image of a coin bearing its logo along with the word "Soon," but did not disclose whether a token launch will take place or provide any timeline.

Six electronic financial and security incidents involving virtual asset exchanges were reported to South Korea’s Financial Supervisory Service over the past five years, Newsis reported. Data submitted by the Financial Supervisory Service to Rep. Kim Hyeong-yeon of the National Policy Committee from the Rebuilding Korea Party showed that from 2022 through August this year, five of the reported incidents involving virtual asset exchanges stemmed from internal causes, including trading delays and failed orders due to surging traffic, system operation errors, and incorrect event reward inputs, while one case involved an external hack. Including those cases, the total number of electronic financial and security incidents came to 2,189.

The Solana Foundation has launched Solana DvP, an open-source program designed to let banks settle trades on the Solana network with the level of certainty expected in traditional financial markets, Decrypt reported. Solana DvP is an open-source escrow program that provides standardized APIs for financial institutions.

A newly created address withdrew 7,166 ZEC worth $9.67 million from Coinbase over the past 12 hours, according to Lookonchain. Exchange outflows are typically interpreted as a sign of holding intent.

Ansem, a well-known cryptocurrency trader, said on X there is limited value in analyzing the current crypto cycle through a one-to-one comparison with 2020, 2023 or 2024. Ansem added the closest parallel is the 2020-2021 DeFi expansion, when an entirely new sector drew billions of dollars on-chain. This time, stablecoins, especially tokenized stocks, are opening another new market while attracting retail investors, institutions and developers at the same time. New sectors create new capital flows, products and heavy speculation, Ansem said, adding this is the framework used to analyze the current cycle.

LG CNS has launched KITL, a blockchain infrastructure platform, the company said on Oct. 6. According to TechM, KITL provides the infrastructure needed for banks, securities firms, card companies and payment providers to build digital-asset services tied to stablecoins, tokenized securities and real-world assets. LG CNS also said it has built a global partner ecosystem around KITL and signed MOUs with Circle, Securitize, the Canton Foundation, Chainalysis and Chainlink across business areas needed for digital-asset operations.

U.S. Rep. Don Davis, a Democrat, has introduced a bill that would bar federal election candidates from trading prediction market contracts tied to their own race, CNBC reported. Violations would carry a fine of $10,000 or three times the net profit from the trade, whichever is greater. The bill was introduced after Davis’ election rival, Republican Laurie Buckhout, traded contracts tied to whether Buckhout would win and was later fined about $2,600 by Kalshi and suspended from the platform for three years.

Crypto trader Ansem voiced a bullish view on BTC, saying the gap between Bitcoin and gold is likely to keep narrowing. In a post on X, Ansem said BTC, when priced in gold, failed to surpass its previous peak in the last cycle. Ansem added that if the argument that BTC is the best digital hard money is correct, the gap between BTC and gold should continue to shrink. Ansem also said the gold market is worth $30 trillion, compared with $1.7 trillion for BTC, and argued that as the gap narrows, governments will have a stronger rationale to hold BTC like gold.