[$90K BTC call bought on Derive in $68M notional trade]

A large bullish BTC options trade has appeared on on-chain options platform Derive, CoinDesk reported. According to Derive, a single address bought 800 BTC call option contracts on Oct. 20 with a $90,000 strike price and a Nov. 6 expiry. Each contract is tied to one BTC, bringing the total notional value to about $68 million. Derive said it was the largest single Bitcoin open position on the platform. The trade suggests the trader is betting on a rise in BTC after the U.S. midterm elections in early November. Separately, options bets expecting BTC to break above $100,000 by Christmas are also increasing.
https://coinness.com/en/news/1172963

[Pump.fun adds support for X Layer on its app]

Pump.fun, a Solana-based memecoin issuance and trading platform, said on its official X account that its app now supports integration with X Layer. The company said the update lets users trade all X Layer-based tokens with a single USDC balance, without manual bridging or switching wallets.
https://coinness.com/en/news/1172964

[Crypto app tokens may benefit as onchain market access improves: analyst]

Blockchain application tokens centered on high-quality projects could emerge as viable investment targets despite weakness in the crypto market, according to a Real Vision crypto market analyst Jamie Coutts analysis. Coutts said application tokens had previously underperformed amid selling pressure from token unlocks, speculative demand and regulatory uncertainty, but recent shifts tied to the GENIUS Act and changes in the regulatory stance of the U.S. SEC and CFTC are creating conditions for broader entry by traditional financial institutions into onchain markets.
https://coinness.com/en/news/1172965

[U.S. crypto-linked stocks fall across the board in premarket trading]

Crypto-linked stocks were broadly lower in U.S. premarket trading. Circle (CRCL) fell 2.88%, SharpLink (SBET) declined 2.62%, Bitmine (BMNR) dropped 2.23%, and Strive (ASST) was down 1.92%.

Coinbase (COIN) fell 1.37%, Strategy (MSTR) slipped 1.34%, and Robinhood (HOOD) lost 0.92%.
https://coinness.com/en/news/1172966

[Bitmine buys 10,452 more ETH over past week]

Bitmine said it bought an additional 10,452 ETH over the past week, raising its holdings to 6,051,933 ETH, or 4.95% of total ETH supply.

The company said it is now 0.05 percentage point away from its goal of securing 5% of the total supply. Bitmine also repurchased 2.04 million shares last week at an average price of $22.48 per share, spending a total of $45.9 million. Its total assets, including cryptocurrency, cash and marketable securities, currently stand at around $15 billion. Of its total holdings, 5.23 million ETH is currently staked.
https://coinness.com/en/news/1172967

[Circle issues about 4 billion USDC on Solana over past 7 days]

Circle, the issuer of the dollar-pegged stablecoin USDC, has issued about 4 billion USDC on the Solana network over the past seven days, SolanaFloor reported. It was not confirmed whether the issuance included asset transfers from other blockchains or led to an increase in USDC circulation on Solana.
https://coinness.com/en/news/1172968

[Arkham says Bitcoin’s UTXO model is key to double-spend prevention, privacy]

The unspent transaction output, or UTXO, model, a core part of Bitcoin’s transaction structure, plays an important role in preventing double spending and enabling transaction privacy, according to an analysis by on-chain analytics platform Arkham.

Arkham said UTXO tracks individual unspent transaction outputs rather than managing a total balance like a bank account. That structure helps prevent the same asset from being spent more than once without a central authority. The model is also used by Litecoin (LTC), Dogecoin (DOGE) and Zcash (ZEC), Arkham said. Combined with proper address management, including the use of a new address for each transaction, UTXO can also strengthen transaction privacy. Arkham described UTXO as a core element underpinning Satoshi Nakamoto’s Bitcoin design.
https://coinness.com/en/news/1172969

[Galaxy Research says BTC has bottomed, sees attractive entry for long-term holders]

Bitcoin has already formed a bottom, making the current period an attractive time to buy and hold for the long term, Galaxy Research said in a recent report, according to The Block.

Alex Thorn, head of research at Galaxy Research, said selling by long-term holders has slowed and key technical indicators have recovered. BTC, after spending 44 straight weeks below its 50-week moving average, posted weekly closes above that level for five consecutive weeks through Oct. 18. The average monthly volume of BTC that had been dormant for more than five years also fell to 34,000 BTC this year from 67,000 BTC in 2024.

Spot ETFs and BTC-accumulating listed companies have absorbed a significant share of selling from long-term holders, while rising U.S. debt and fiscal deficits are also enhancing Bitcoin’s appeal as an investment, Thorn said. He added the bullish outlook could weaken if BTC closes a weekly candle below its 50-week moving average of $76,540 and fails to reclaim that level within a month.
https://coinness.com/en/news/1172970

[Tether launches FASE foundation for anti-fraud and trafficking victim support]

Tether, the issuer of the dollar-pegged stablecoin USDT, has launched the nonprofit FASE foundation to expand financial inclusion, prevent fraud and support victims of human trafficking, according to its official blog.

The foundation includes 11 founding contributors, including Bybit, Kraken, Chainalysis and the Solana Foundation. Its main initiatives include digital education and fraud-prevention programs for up to 10 million young people, a humanitarian aid pilot for up to 1 million people using stablecoins, and support for organizations assisting victims of human trafficking.
https://coinness.com/en/news/1172971

[dYdX launches on-chain vote on shutting down 17 markets]

The dYdX Foundation said an on-chain vote has been launched on whether to shut down 17 markets: APE, ATH, BLUR, CHZ, DYM, ENA, LIT, ONDO, ORDI, TRUMP, WIF, WLFI, WTI, XAG, ZEN and ZORA. The vote closes at 12:40 p.m. UTC on Oct. 29.
https://coinness.com/en/news/1172972

[S&P Global completes acquisition of OpenZeppelin]

S&P Global said today it has completed its acquisition of onchain security firm OpenZeppelin on a stated date. The deal is intended to expand S&P Global’s risk assessment capabilities in digital assets into onchain technology risk, and the two companies plan to strengthen smart contract security assessments and risk analysis related to onchain finance.

OpenZeppelin will retain its existing name as a standalone business unit, with founder Demian Brener continuing to lead the business. OpenZeppelin Contracts, the company’s open-source smart contract library, will also remain free and publicly maintained.

CoinNess reported in September that S&P Global planned to acquire OpenZeppelin.
https://coinness.com/en/news/1172973

[Kinetiq-built L2 Elysium to integrate Uniswap trading infrastructure]

Elysium, a new Layer 2 network being developed by Hyperliquid ecosystem-based liquid staking protocol Kinetiq, plans to integrate Uniswap’s decentralized trading infrastructure on-chain, Crypto Briefing reported.

Built on Arbitrum Orbit, Elysium is a high-speed Layer 2 blockchain focused on trading, using HyperEVM technology and HYPE as its gas token. The network is targeting block times of 100-200 milliseconds and throughput of around 300 Mgas per second. Uniswap smart contracts could serve as a core part of Elysium’s trading infrastructure. No detailed launch timeline or roadmap has been disclosed.
https://coinness.com/en/news/1172974

[Franklin Templeton moves to launch ETF that reinvests S&P 500 dividends into BTC]

Global asset manager Franklin Templeton is preparing to launch an ETF, FBEQ, that would automatically reinvest dividends from 500 large-cap U.S. stocks into Bitcoin, CoinDesk reported. The product would initially allocate 5% of assets to BTC and then gradually increase its Bitcoin exposure by reinvesting stock dividends.
https://coinness.com/en/news/1172975

[Qubic says stolen funds are being returned on-chain after wallet seed security breach]

AI-computing-focused layer-one network Qubic said it has provided an update on fund recovery following a recent security incident involving vulnerable wallet recovery seeds. Funds drained from the Qubic network during the breach are being returned on-chain to their original addresses, Qubic said.

CoinNess reported on Oct. 19 that attackers exploited a vulnerability in wallet recovery seed generation on older Apple software and browsers at Qubic, stealing 294 trillion QU worth about $1.3 million from 1,404 wallets.
https://coinness.com/en/news/1172976

[US stocks open higher]

The three major U.S. stock indices opened higher today.
- S&P 500: +0.25%
- Nasdaq: +0.28%
- Dow Jones: +0.2%
https://coinness.com/en/news/1172977

[Bloomberg: Trump-linked crypto firms bolster legal response ahead of potential probes]

Cryptocurrency and investment firms linked to U.S. President Donald Trump’s family are hiring lawyers and lobbyists as they prepare for possible congressional investigations after the midterm elections, Bloomberg reported. Democratic lawmakers are currently seeking documents from World Liberty Financial (WLFI) and venture capital firm 1789 Capital as they examine possible preferential treatment and conflicts of interest in the awarding of government contracts. Even if Democrats win a congressional majority in the midterms, compelling overseas officials to provide materials and securing follow-up action from federal agencies including the Justice Department could hinder the inquiries. The companies involved and the Trump family maintain their business activities comply with regulations.
https://coinness.com/en/news/1172978

[Bernstein sees Robinhood prediction market revenue topping crypto by 2028]

Bernstein expects prediction market revenue at Robinhood, the U.S. stock and cryptocurrency trading platform listed on Nasdaq under HOOD, to reach $1.7 billion in 2028, surpassing its projected crypto-related revenue of $1.6 billion, according to Cointelegraph.

In a report, Bernstein projected Robinhood’s prediction market revenue will grow from about $650 million this year to account for roughly 18% of its total 2028 revenue forecast of $9.4 billion. It kept its price target unchanged at $160.
https://coinness.com/en/news/1172979

[Stablecoin holder addresses top 300 million for first time, Ethereum ecosystem at 37%]

The number of stablecoin holder addresses worldwide has surpassed 300 million for the first time, Unfolded said. The Ethereum ecosystem accounted for 37% of the total, up eight percentage points from 29% two years earlier. Around 75% of stablecoin holder addresses within the Ethereum ecosystem were on layer-2 networks.
https://coinness.com/en/news/1172980

[Uttar Pradesh police use Cardano-based system to track criminal evidence]

India’s Uttar Pradesh Police, the country’s most populous state police force, are using the Cardano blockchain to track criminal evidence, the Cardano Foundation said.

Hashes of all scans and lab analysis results are recorded on-chain, and the system is already being used in active cases. The Cardano Foundation also released a case study on how TrivolveTech built the system.
https://coinness.com/en/news/1172982

[Ripple adds AI automation, crypto yield services to Ripple Treasury]

Ripple has added AI-based automation and digital asset yield services to its corporate treasury platform, Ripple Treasury, The Block reported. It also introduced a feature called '24/7 Returns,' allowing eligible corporate clients to earn yield on qualifying cryptocurrencies held in Ripple wallets. Eligible assets include the U.S. dollar-pegged stablecoin RLUSD, subject to the program’s requirements.
https://coinness.com/en/news/1172983

[Injective launches NVIDIA GPU rental price index, offers 10x perp leverage]

Injective announced the official launch of the Super Intelligence Compute Index, or SICI, an on-chain benchmark index that combines the hourly rental prices of five NVIDIA GPUs.

The index consists of the H100 at 40%, B200 at 25%, H200 at 15%, A100 at 10%, and RTX 4090 at 10%. Traders can access perpetual futures based on the index on Injective with leverage of up to 10x. Injective added it plans to introduce new financial products offering access to SICI within the next few days.
https://coinness.com/en/news/1172984