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🚀 Daily Market Brief (Oct 13, 2025 | Market Rebound After Historic Crypto Sell-Off)

Summary
Macro Environment: On Friday, U.S. equities experienced a sharp sell-off following Trump’s tariff threats — the S&P 500 dropped nearly 3% and the Nasdaq over 3%, their largest single-day declines in six months. Over the weekend, statements from U.S. Commerce Department officials and Vice President Vance helped ease trade-related fears, pushing U.S. equity futures higher.

Crypto Market: Tariff concerns triggered a massive crypto market crash — Bitcoin plunged over 13%, ETH fell more than 17%, and many altcoins saw intraday drops exceeding 50%. Total liquidations topped $19 billion, the highest on record, driving extreme fear across the market. Over the weekend, following Vance’s remarks, the “TACO” trade narrative returned, with major coins rebounding — ETH jumped more than 10%.

Project Developments

Trending Tokens: ETH, LINK, COAI

BONK: Treasury firm Safety Shot plans to hold 5% of BONK’s circulating supply by year-end and will rebrand to Bonk, Inc.

BNB: Rapid rebound recovered prior losses; ecosystem tokens including CAKE, ASTER, 4, FORM surged.

TAO: Grayscale submitted an SEC Form 10 for its TAO Trust, reducing private placement lockup to 6 months.

ASTER: Completed a buyback of 100 million ASTER tokens.

ENA: Stablecoin USDE severely depegged during the crash, briefly dropping to $0.6567.

Major Asset Moves
🟠 Crypto Fear & Greed Index: 38 (up from 24 yesterday) — Fear

Today’s Outlook

CME launches SOL and XRP futures options.

Oracle hosts its Global AI Conference (Oct 13–16, Las Vegas).

Macroeconomics

Trump threatens 100% additional tariffs on China.

VP Vance: Trump is open to “rational negotiations” with China.

U.S. 1-year inflation expectations (Oct prelim): 4.6% (vs 4.7% est.).

U.S. September CPI report postponed to Oct 24 due to government shutdown.

Policy Trends

U.S. crypto market structure talks stalled after a Democratic DeFi proposal leak.

EBA warns some crypto firms may exploit MiCA’s transition period for regulatory arbitrage.

Industry Highlights

💥 Oct 11: Total liquidations surpassed $19B, setting a new record.

Forbes: Trump’s Bitcoin exposure exceeds $870M.

🇦🇪 Abu Dhabi Airport to pilot stablecoin and crypto payments.

🏦 Goldman Sachs and Bank of America planning joint stablecoin initiative.

📈 Kalshi raised $300M, valuing the prediction market at $5B.

This Week’s Outlook

Oct 13: CME launches SOL/XRP futures; Oracle Global AI Conference begins.

Oct 14: Aster 2nd airdrop phase; LAB TGE event.

Oct 15: Fed Beige Book; Morgan Stanley lifts crypto fund restrictions; STRK unlock (5.64%, $14.4M); SEI unlock (1.15%, $11.5M).

Oct 16: SEC decision delay on Bitwise & 21Shares Solana ETFs.

Oct 17: SEC Crypto Task Force holds Financial Regulation & Privacy Roundtable; DBR unlock (17.01%, $16.6M).

Oct 18: SEC deadline for Grayscale XRP ETF decision.

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🚀 Daily Market Brief (Oct 14, 2025 | Gold Hits Record High, Crypto Rebounds Above $115K)

Summary
Macro Environment: “TACO” trades returned in force, fueling a major rebound across U.S. equities. Both the Nasdaq and S&P 500 posted their largest single-day gains in four and a half months. Gold and silver also surged to historic highs — gold broke $4,100 for the first time.

Crypto Market: The crypto market extended its recovery, with Bitcoin breaking above $115,000. Altcoin dominance rebounded to 41%, up for three straight days and back to pre-crash levels, indicating a full price ratio recovery between altcoins and Bitcoin.

Project Developments
Trending Tokens: SOL, DOGE, SNX

SNX: Synthetix announced plans to launch a perpetual DEX on Ethereum mainnet in Q4. Since dropping to $0.51 on Oct 11, SNX has surged nearly 4x.

SOL / XRP: CME officially launched SOL and XRP options trading.

DOGE: The House of Doge, the commercial arm of the Dogecoin Foundation, will go public on Nasdaq via a merger.

IP: The Aria Foundation was established under Story ecosystem’s IPRWA protocol to promote on-chain IP economy.

HYPE: Hyperliquid to roll out the HIP-3 upgrade, enabling permissionless perpetual market creation by staking 500,000 HYPE.

Major Asset Moves
🟠 Crypto Fear & Greed Index: 38 (unchanged) — Fear

Today’s Outlook

Aster second-phase airdrop goes live (Oct 14).

LAB multichain trading infrastructure holds its Token Generation Event (TGE) today.

Macroeconomics

Day 13 of U.S. government shutdown: Partisan deadlock continues; House Speaker warns of a potential record-length closure.

Rate cut odds: 98.3% probability of a 25 bps Fed rate cut in October.

Middle East: A Gaza ceasefire agreement was signed in Egypt.

Policy Trends

Hong Kong: Ant Group’s acquisition of Bright Smart Securities (a stablecoin-concept stock) approved by the SFC.

Kenya: Parliament passed the Virtual Asset Service Providers Bill to attract crypto investment.

Industry Highlights

💰 Strategy purchased 220 BTC (~$27.2M) at ~$123,561 per BTC last week.

🪙 BitMine added 202,000 ETH, reaching half of its goal to accumulate 5% of total ETH supply.

💼 CME launched SOL & XRP options trading.

🇪🇺 Amundi, Europe’s largest asset manager, to enter the crypto ETF market.

🏦 Citibank plans to roll out crypto custody services in 2026.

💳 JPMorgan to enable client crypto trading access (custody services pending).

📊 Kalshi & Polymarket saw record combined volume of $1.44B in September.

💱 Circle: No plans yet for a HKD-pegged stablecoin.

This Week’s Outlook

Oct 14: Aster 2nd airdrop; LAB TGE.

Oct 15: U.S. September CPI delayed to Oct 24 due to shutdown; Fed Beige Book release; Morgan Stanley lifts crypto fund restrictions; STRK unlock (5.64%, $14.4M); SEI unlock (1.15%, $11.5M).

Oct 16: SEC decision on Bitwise & 21Shares Solana ETFs postponed to this date.

Oct 17: SEC’s Crypto Task Force hosts Financial Regulation & Privacy Roundtable; DBR unlock (17.01%, $16.6M).

Oct 18: SEC deadline for Grayscale’s XRP ETF decision.

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🚀 Daily Market Brief (Oct 15, 2025 | Gold Rally Continues, Fed Dovish, BTC Tracks Stocks)

Summary
Macro Environment: U.S.–China trade tensions resurfaced, reigniting concerns and sending U.S. stock futures lower. However, Powell’s dovish comments reaffirmed the Fed’s rate-cut trajectory, lifting equities intraday — though gains failed to erase earlier losses.

Crypto Market: Macro events drove crypto price action. Bitcoin mirrored equities, briefly dipping near $110K before rebounding slightly to close down 1.86%. BTC dominance rose 0.27%, while altcoins, having restored parity with BTC in previous rebounds, realigned with the broader market trend.

Project Updates
Hot Tokens: TAO, PAXG, LINK

PAXG/XAUT: Gold hit record highs for two straight days, pushing both PAXG and XAUT higher in tandem.

TAO: TAO Synergies, a U.S.-listed TAO treasury company, raised $11M in private funding to expand strategic TAO token investments.

ZORA: Dropped a teaser video hinting at an upcoming live-streaming feature.

LINK: S&P Global integrated Chainlink to publish stablecoin risk ratings on-chain.

UXLINK: Announced its first token buyback to begin this weekend; repurchased tokens will be used for a “Redemption and Compensation Program.”

Major Asset Movements
🟠 Crypto Fear & Greed Index: 34 (down from 38) — Fear

Today’s Outlook

🇺🇸 U.S. September CPI release postponed to Oct 24 due to the government shutdown.

🏦 Federal Reserve Beige Book to be released.

💼 Morgan Stanley lifts restrictions on wealthy clients investing in crypto funds.

🔓 Token Unlocks: STRK (5.64%, ≈ $14.4M) and SEI (1.15%, ≈ $11.5M).

Macro Economy

Powell: The Fed may end balance sheet reduction in the coming months.

Powell: Labor market momentum has softened, increasing downside risks; prolonged shutdowns may further complicate data and policy outlooks.

Trump: Considering ending trade with China in edible oil and related sectors.

U.S. Senate: Failed to advance GOP stopgap funding bill — the government shutdown continues.

Policy Trends

🇦🇪 Dubai launched a new financial strategy with virtual assets as a core pillar.

🇺🇸🇬🇧 U.S. and U.K. jointly sanctioned Cambodia’s Prince Group, whose 127,000 BTC are now under U.S. government custody.

🇺🇸 U.S. Republicans proposed a bill to codify Trump’s order allowing 401(k) investments in crypto and private equity.

🇯🇵 Japan to introduce new regulations banning crypto insider trading.

Industry Highlights

🪶 Solana and founder Toly launched a community campaign to crowdsource Solana’s Chinese name.

💵 Total stablecoin market cap surpassed $310B, setting a new all-time high.

📉 Metaplanet’s market cap fell below its BTC reserve value, with MNAV ratio at 0.99.

🏦 BlackRock CEO: Exploring tokenized long-term investment products, noting that “asset tokenization has only just begun.”

This Week’s Outlook

Oct 15: U.S. September CPI delayed to Oct 24; Fed Beige Book release; Morgan Stanley removes crypto fund restrictions; STRK unlock (5.64%, $14.4M); SEI unlock (1.15%, $11.5M).

Oct 16: SEC decision on Bitwise & 21Shares Solana ETFs postponed to this date.

Oct 17: SEC’s Crypto Task Force holds Financial Regulation & Privacy Roundtable; DBR unlock (17.01%, $16.6M).

Oct 18: SEC deadline for Grayscale’s XRP ETF decision.

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🚀 Daily Market Brief (Oct 17, 2025 | Credit Fears Hit Risk Assets, BTC Breaks Below 110K)

Summary
Macro Environment: Credit concerns swept global markets after two U.S. regional banks disclosed rising bad loans, sparking fears of broader credit deterioration. Major indexes fell sharply as investors fled to safe-haven assets — gold and silver both hit record highs. Diverging views resurfaced within the Federal Reserve on the pace of rate cuts, while markets priced in three cuts for 2025.

Crypto Market: Sentiment plunged into “Extreme Fear”, with Bitcoin breaking below $110K and its dominance rising to 59%. The AI sector outperformed on tech optimism, while most altcoins remained under selling pressure.

Project Developments
Hot Tokens: PAXG, COAI, ZORA

PAXG/XAUT: Gold surged for the fifth consecutive day, breaking $4,300 for the first time, driving up gold-backed stablecoins.

COAI: OKX listed COAI perpetuals; bullish developments from Oracle and TSMC lifted AI market sentiment.

ZORA: Introduced the “Believe Fund”, pledging 20 million ZORA tokens to support emerging creators over the coming months.

Major Asset Movements
🧭 Crypto Fear & Greed Index: 23 (down from 28) — Extreme Fear

Today’s Outlook

🇺🇸 U.S. SEC Crypto Task Force to host the Financial Regulation & Privacy Roundtable (Oct 17).

🔓 DBR Unlock: 17.01% of circulating supply (~$16.6M).

Macro Economy

💬 Fed Split on Rate Cuts: Governor Waller urged caution, while nominee Milan called for a 50 bps cut.

🏛️ U.S. Government Shutdown: Continues after the Senate rejected a temporary funding bill for the tenth time.

Policy Developments

🇦🇺 Australia announced strict measures targeting crypto ATMs to curb illegal activity.

📰 Financial Times: Trump family reportedly earned over $1B through crypto-related ventures in one year.

🇬🇧 U.K. proposed a compensation mechanism for victims of a 61,000 BTC fraud case.

Industry Highlights

⚖️ A coalition of crypto lawyers is preparing to sue Binance, alleging insider trading and involvement in the recent flash crash that wiped billions.

💰 Coinbase launched “Coinbase Business”, a stablecoin payments platform targeting enterprise users.

💼 Ripple announced a $1B acquisition of GTreasury, a financial management systems firm.

🧠 YZi Labs invested in Temple Digital Group, which focuses on privacy-compliant trading infrastructure.

This Week’s Outlook

Oct 17: SEC Crypto Task Force roundtable on financial regulation & privacy; DBR unlock (17.01%, ~$16.6M).

Oct 18: SEC decision deadline for Grayscale’s XRP ETF.

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2025.10.20 (Industry Update)
Credit Risk Eases, But Crypto Market Rebound Remains Limited

Macro Environment: Hopes for easing trade tensions were rekindled, and stronger-than-expected regional bank earnings alleviated last Thursday’s fears over deteriorating credit quality. U.S. equities rebounded, recovering most of the prior week’s losses.
Crypto Market: As credit risks did not worsen further, market sentiment stabilized. Over the weekend, Bitcoin rebounded to a high of $109,445. Bitcoin dominance declined, indicating that altcoins slightly outperformed major assets, though overall market sentiment remains in fear.

Project Developments
Hot Tokens: TAO, SNX, LDO, XRP, ZBT
TAO: Grayscale filed with the SEC to launch a TAO Trust product; DCG made a $10 million strategic investment in Bittensor.
SNX: Synthetix to launch a Perp DEX on Ethereum mainnet.
LDO: VanEck filed an S-1 for its Lido Staking ETF.
XRP: Ripple Labs is leading a $1 billion fundraising round aimed at building an XRP token reserve.
ZBT: Upbit listed ZBT against KRW, BTC, and USDT.

Crypto Fear & Greed Index: 29 (unchanged from 24 hours ago), indicating “Fear.”

Today’s Outlook
Ethereal, a spot and perpetual trading platform built on USDe, launches Mainnet Alpha.
LayerZero (ZRO) unlocks approximately 25.71 million tokens (≈$44.2M).
Hyperliquid ecosystem DEX project HyperSwap hints at a TGE.

Macro Developments
Trump denies maintaining high tariffs on China.
“Fed Whisperer”: Lack of key economic data may lock in a 25 bps rate cut path.
BoJ Deputy Governor Uchida Shinichi: “If economic and price trends align with forecasts, rate hikes will continue.”
China and U.S. trade representatives held a video call and agreed to conduct a new round of trade talks soon.

Policy Updates
California Governor Gavin Newsom signed the state’s first Bitcoin and crypto regulatory bill into law.
The Bank of England plans to implement stablecoin regulations by end-2026.
Japan’s Financial Services Agency plans to allow banks to acquire and hold cryptocurrencies as investments.
Major Japanese banks will issue stablecoins for commercial use.
Andrew Cuomo, NYC mayoral candidate, proposes to make New York a crypto hub.
Shanghai unveiled multiple blockchain innovation applications, including in shipping trade, finance, and social governance.

Industry Highlights
Michael Saylor posted new Tracker data and may disclose additional Bitcoin purchases next week.
Bloomberg: Binance and other crypto companies are under French anti–money laundering investigations.
MoonPay launched its unified crypto payment platform, MoonPay Commerce.
Sources say Polymarket plans to issue a token after re-entering the U.S. market, likely not before 2026.
Vitalik: The efficiency of ZK-Provers lies in not having to commit to any intermediate data layers.
Bitcoin hash rate reached a historic high of 1,161 Eh/s.

This Week’s Outlook
Oct 20: Ethereal launches Mainnet Alpha; LayerZero (ZRO) unlock (25.71M tokens, ≈$44.2M); HyperSwap TGE hint.
Oct 21: Fed Payments Innovation Conference — discussions on stablecoin use cases, tokenization of financial products/services; opening remarks by Fed Governor Waller; keynote by Treasury Secretary Bessent.
Oct 22: ETHShanghai 2025 main summit opens, featuring 40+ industry leaders discussing Ethereum’s core development topics; Tesla Q3 earnings release.
Oct 23: Wanxiang 11th Global Blockchain Summit; Solana ecosystem liquidity protocol Meteora TGE.
Oct 24: Release of U.S. September CPI report; U.S. October Markit Manufacturing PMI data.
Oct 25: Plasma (XPL) unlock of 88.89M tokens (~$36.9M).

2025.10.21 (Industry Update)
Market Sentiment Rebounds Sharply as Bitcoin Returns to $110K amid Broad Rally

Macro Environment: Market sentiment improved significantly as trade tensions and U.S. credit fears eased, leading to a synchronized rally across major asset classes. U.S. equities, gold, and the dollar all rose, while Treasury yields declined. The S&P 500 recorded its largest two-day gain since June, and gold marked its sixth consecutive intraday all-time high.
Crypto Market: Renewed risk appetite lifted Bitcoin back above $110,000, driving a 1.9% increase in total crypto market capitalization. However, altcoin market cap and trading volume share declined, suggesting rotation toward major assets. The Fear & Greed Index rose to 34 (from 29), still in the fear zone, indicating cautious optimism and uncertainty about the sustainability of the rebound.

Project Developments
Hot Tokens: FLOKI, ENA, AVNT, ZEC, BIO, STRK
FLOKI: Elon Musk posted “Flōki is now CEO of X.”
ENA: Ethena’s founder revealed plans to launch two new products of similar scale to USDe within three months.
AVNT: Avantis TVL reached a new high of $106.3 million.
BIO: Upbit announced BIO listings with KRW, BTC, and USDT pairs.
STRK: Alpen Labs partnered with Starknet to develop a Bitcoin DeFi cross-chain bridge to enhance trust.

Crypto Fear & Greed Index: 34 (up from 29, still in “Fear” territory).

Upcoming Events
October 21: U.S. Federal Reserve’s Payments Innovation Conference, covering topics such as new stablecoin use cases, tokenized financial products, and digital finance models. Fed Governor Christopher Waller will give the opening remarks; Treasury Secretary Bessent will deliver the keynote. Chainlink and Circle representatives will also attend.

Macroeconomics
The U.S. Senate failed for the 11th time to pass the funding bill; the government shutdown continues.
White House advisor Hassett said the shutdown “may end sometime this week.”
In Japan, the LDP and Ishin no Kai signed a coalition agreement; Sanae Takaichi is likely to become the next Prime Minister.
Nick Timiraos (WSJ’s “Fed Whisperer”) reported that as the U.S. Treasury rebuilds its cash balance, bank reserves have fallen below 13% of total assets, a level New York Fed President Williams previously considered the threshold for “ample reserves.”

Policy Developments
British Columbia, Canada proposed legislation to permanently ban new crypto mining projects.
Fed Vice Chair Michael Barr expressed concerns over Bitcoin-backed stablecoins.
The U.S. Senate’s crypto legislation remains stalled; crypto executives are set to meet Democratic lawmakers this week to push for progress.

Industry Highlights
AWS experienced a large-scale outage, affecting thousands of users and disrupting operations for several crypto exchanges.
Solana published its first Chinese-language tweet introducing the name “索拉拉 (Solala).”
Solana co-founder Toly was rumored to be building a Perp DEX, later clarified as an AI-generated experimental test.
Strategy purchased 168 BTC (~$18.8 million) last week.
BitMine increased its holdings by 203,800 ETH, bringing its total to 3.24 million ETH.
Evernorth announced plans to go public on Nasdaq with a $1 billion fundraising target.
Greenlane Holdings launched a $110 million private placement to fund its BERA financial strategy.

Outlook for the Week
Oct 21: Fed Payments Innovation Conference (stablecoin use cases, tokenization of financial products).
Oct 22: ETHShanghai 2025 main summit opens with 40+ industry leaders; Tesla reports Q3 earnings.
Oct 23: Wanxiang Blockchain Global Summit begins; Meteora (Solana ecosystem liquidity protocol) to hold its TGE.
Oct 24: U.S. Bureau of Labor Statistics releases September CPI; October Markit Manufacturing PMI published.
Oct 25: Plasma (XPL) unlocks ~88.89 million tokens valued at ~$36.9 million.

2025.10.22 (Industry Update)

Nasdaq Hits Record High as Gold Plunges; Bitcoin Slides Back to $108K After Volatile Swings

Macro Environment: The U.S. government shutdown has entered its 21st day. Supported by strong corporate earnings, the Dow Jones Industrial Average hit an intraday record high, while the Nasdaq closed lower and the S&P 500 barely stayed flat. Expectations that next week’s trade talks may ease tensions weakened safe-haven demand, leading to profit-taking and sell-offs in gold and silver.

Crypto Market: A rare divergence occurred with “digital gold” rising while physical gold fell. Bitcoin surged over 6% from the daily low to hit $114K, but quickly retreated to $108K. Market sentiment remains fragile, and volatility is likely to remain the dominant theme in the short term.


Project Updates

Hot Tokens: KTA, RIVER, FF, COAI, XPIN
KTA: Coinbase announced it will soon list Keeta (KTA).
RIVER: Launched its Supercharged Recurring Buys strategy with zero fees.
FF: Began Perryverse NFT whitelist minting on October 22.
XPIN: Announced a partnership with MIMBO to integrate its incentive mechanism into XPIN’s DePIN network.

Crypto Fear & Greed Index: 23 (down from 28 twenty-four hours ago) — Level: Extreme Fear


Today’s Outlook

ETHShanghai 2025 Main Summit officially opens, featuring over 40 industry leaders discussing core Ethereum development topics.
Tesla releases its Q3 earnings report.

Macroeconomics
U.S. President Donald Trump: “Fed Chair Jerome Powell is about to leave. There’s a hardliner in the Fed—interest rates are too high.”
Reuters Survey: The Federal Reserve is expected to cut rates twice more this year, though the 2026 rate path remains highly uncertain.
Trump: “Ukraine still has a chance to reach a ceasefire with Russia; an update on the Russia-Ukraine situation will be announced within two days.”

Policy Direction
According to crypto journalist Eleanor Terrett, the Federal Reserve proposed launching a “streamlined master account” to provide direct payment access for fintech firms and stablecoin issuers.
Hong Kong Stock Exchange and two other major Asia-Pacific exchanges are reportedly resisting the trend of listed companies accumulating crypto assets as core business holdings.
Bloomberg ETF Analyst Eric Balchunas noted there are now 155 crypto ETF filings tracking 35 different crypto assets.
Senator Elizabeth Warren criticized the stablecoin bill, urging the Treasury Department to guard against Trump-related risks.
Senator Cynthia Lummis voiced support for open banking rules, highlighting the importance of digital assets.
Bank of Japan Deputy Governor: “Stablecoins could become key participants in the payment system, partially replacing bank deposits.”

Industry Highlights
ProShares officially filed to list its ProShares CoinDesk Crypto 20 ETF on the NYSE.
DraftKings announced the acquisition of CFTC-regulated exchange Railbird Technologies, expanding into prediction markets and event contracts.
Gemini U.K. Head Slutzkin said that crypto ownership among U.K. retail investors rose from 18% last year to 24%, making the U.K. a key market for the company.
Solana announced it will end support for the Saga phone, just two years after its launch.
U.K. government officials met with OKX CEO Star to jointly promote a transparent, innovative, and well-regulated digital asset ecosystem.
YZi Labs led Sign’s $25.5 million strategic funding round.
Galaxy Digital reported Q3 net income exceeding $500 million, selling over 80,000 BTC on behalf of clients.


This Week’s Outlook
October 22: ETHShanghai 2025 Main Summit opens; 40+ industry leaders discuss Ethereum development; Tesla releases Q3 earnings.
October 23: Wanxiang 11th Global Blockchain Summit; Solana ecosystem liquidity protocol Meteora conducts TGE.
October 24: U.S. Bureau of Labor Statistics releases September CPI; October Markit Manufacturing PMI data announced.
October 25: Plasma (XPL) unlocks ~88.89 million tokens, valued at approximately $36.9 million.

Industry Update
October 23, 2025 (Industry Update)

Global Headlines Weigh on Market Sentiment; Bitcoin Finds Support at 106K

Macro Environment: Ongoing trade and geopolitical developments continued to dampen market sentiment. Reports indicate that the U.S. government plans to restrict software-driven product exports to China, while Treasury Secretary Besant stated that the U.S. will significantly increase sanctions on Russia. Earnings from Netflix and Texas Instruments came in weak, leaving U.S. equities lacking upward momentum. Gold prices rebounded slightly during U.S. trading hours but ended the day lower.

Crypto Market: The crypto market saw mild consolidation. Bitcoin fell below 108K again after the U.S. trade headlines but found support at 106K. Total crypto market capitalization dropped 4.2%, with altcoins maintaining a 40% share. Market sentiment remains fearful, as traders await new catalysts.

Project Developments
Hot Tokens: BNB, CPOOL, HYPE
BNB: Robinhood lists BNB.
AAVE: Aave DAO proposed a plan for an “annual $50 million AAVE buyback.”
HYPE: Hyperliquid Strategies filed an S-1 form, seeking to raise up to $1 billion — potentially for HYPE token purchases.
CPOOL: Upbit and Bithumb announced listings of CPOOL.

Crypto Fear & Greed Index: 27 (previously 25, 24h ago) — Fear level

Today’s Outlook
Wanxiang’s 11th Global Blockchain Summit kicks off.
Solana ecosystem liquidity protocol Meteora conducts its TGE.

Macroeconomy
- U.S. national debt surpasses $38 trillion for the first time.
- The U.S. plans to restrict software-related exports to China.
- Government shutdown continues as the Senate rejects a temporary funding bill for the 12th time.
- The Federal Reserve plans to significantly ease capital increase requirements for large banks.

Policy Developments
- Liechtenstein launches a sovereign blockchain infrastructure.
- Crypto industry leaders convene on Capitol Hill to discuss market structure legislation.
- 155 crypto ETF applications pending approval in the U.S., led by Bitcoin and Solana.
- The Central Bank of Nigeria establishes a stablecoin task force as the eNaira project faces existential risks.
- Crypto firm Cryptomus fined $126 million by Canadian regulators.
- Russia’s Finance Ministry and Central Bank agree to legalize crypto payments for foreign trade.

Industry Highlights
- Hong Kong’s SFC officially approves the first Solana (SOL) spot ETF.
- Tokenized stock trading volume on Solana surged 190x from Q2 to Q3.
- The NHL signs a licensing deal with Polymarket.
- Aerodrome to launch its token issuance platform, Aero Launch.
- Tesla did not sell any Bitcoin during Q3 2025.
- Nasdaq partners with DTC, initially offering digital securities trading on select blockchains while retaining traditional settlement timelines.
- a16z: Stablecoin annual transaction volume hits $46 trillion, 20x that of PayPal.
- FalconX to acquire ETF management firm 21Shares.
- Arthur Hayes on Japan’s new economic policy: “It will propel Bitcoin to $1 million.”

This Week’s Outlook
October 23: Wanxiang’s 11th Global Blockchain Summit; Meteora TGE (Solana ecosystem).
October 24: U.S. Labor Department releases September CPI; U.S. October Markit Manufacturing PMI.
October 25: Plasma (XPL) unlocks ~88.89 million tokens valued at ~$36.9 million.