Market Overview (24h)

Bitcoin traded between $110,048 and $111,522 over the past 24 hours, up +2.09% to $111,254 as of 14:00 UTC (22:00 Taipei). Ethereum rose +2.06% to $3,976, briefly crossing $3,900. Total cryptocurrency market cap reached $3.72–$3.75T, up +0.53% to +2.17% in 24 hours.1234

Derivatives snapshot: Ethereum total network open interest jumped +6.55% in 24h to $46.348B (as of Oct 21–22). Funding rates hovered near neutral (ETH 8h average funding at 0.0048% on Oct 19). Major liquidation event: $322M liquidated on Oct 21 (UTC), with 122,919 traders affected; largest single liquidation was a $2.98M ETH-USDT order on Binance. This followed the historic Oct 10–11 crash that liquidated $19B+ in 24 hours (1.6M traders), the largest on record.567891011

Altcoin movers (24h): APE +19.8%, BEL +26%, PROVE +22%, Aster (ASTER) +12.9%, WLFI +11.6%. SOL +2.32% ($192.98), BNB +2.44% ($1,133), XRP +2.07% ($2.46), ADA +1.91% ($0.65), DOGE +1.45% ($0.197). TRX fell -3.19%.23121314

Stablecoin flows: USDT market cap ~$163B (73% share), USDC ~$70B (21%). No material net supply shifts reported in the 24–48h window.1516

Risk label: Medium (24h volatility contained post-liquidations; awaiting US CPI data release on Oct 24).

Top Headlines (What & Why It Matters)

JPMorgan to Accept Bitcoin & Ethereum as Loan Collateral by Year-End (High Risk) JPMorgan Chase will allow institutional clients to pledge BTC and ETH as collateral for loans globally before Dec 31, 2025 (announced Oct 23–24, 09:00–11:00 UTC). Third-party custodians will safeguard assets. This extends JPMorgan’s June 2025 policy accepting crypto ETFs as collateral. CEO Jamie Dimon previously called Bitcoin a “hyped-up fraud”; this marks a major symbolic shift integrating crypto into Wall Street’s core lending infrastructure. Why it matters: Signals mainstream TradFi acceptance of digital assets as legitimate financial collateral; could catalyze similar moves by Morgan Stanley, State Street, Fidelity.17181920 Sources: Bloomberg (primary); CoinDesk, FXStreet (Oct 23–24, 2025)181920212217

Trump Pardons Binance Founder Changpeng Zhao (High Risk) US President Donald Trump granted a full pardon to Binance co-founder Changpeng “CZ” Zhao on Oct 23, 2025. CZ pleaded guilty in Nov 2023 to violating the Bank Secrecy Act, served 4 months in 2024, paid $50M personally (Binance paid $4.3B). White House press secretary Karoline Leavitt stated CZ was “prosecuted by the Biden Administration in their war on cryptocurrency”. Trump said pardon was “at the request of a lot of very good people” and that CZ had “a lot of support”. CZ posted on X: “Make America the Capital of Crypto”. BNB surged 6.7% (1,083→1,160 USDT) immediately post-announcement, settled +4% 24h later. Why it matters: Clears path for CZ to return to Binance leadership; raises conflict-of-interest concerns given CZ’s support for Trump family’s crypto venture World Liberty Financial; signals crypto-friendly Trump administration policy.232425262728 Sources: White House statement (primary); ABC News, Reuters, CoinDesk, Wall Street Journal (Oct 23, 2025, 04:00–12:00 UTC)242526272823

Perpetual DEX Volume Surpasses $1 Trillion in October – New Record (Medium Risk) On-chain perpetual-focused decentralized exchanges hit $1.01T trading volume in October 2025 (as of Oct 23), shattering September’s $739B and the previous Aug 2025 record of $762B. Hyperliquid led with $317.6B; Lighter $255.4B; Aster $177.6B. Peak single-day volume: $78B on Oct 10 (the day of the $19B+ liquidation event). Why it matters: Demonstrates DeFi perps are closing gap with CEXs; validates permissionless high-leverage markets; Oct 10 crash tested DeFi infrastructure (which handled volumes without major outages).329303132 Sources: DefiLlama (data source); CoinDesk, Binance Square, PANews (Oct 23–24, 2025, 00:00–07:00 UTC)293031323

CME Crypto Options Hit $9B Record; ETH, SOL, XRP Futures at All-Time Highs (Medium Risk) CME Group’s crypto options open interest reached $9B and total crypto futures/options OI jumped +27% since Oct 10 (to Oct 22). ETH futures OI hit record 48,600 contracts; SOL 20,700; XRP 10,100 (all ATHs). CME attributes surge to institutional shift from offshore platforms post-liquidations. CME also announced plans for 24/7 crypto futures trading starting early 2026 (pending regulatory review). Why it matters: Regulated US derivatives markets gaining share from offshore; institutions seeking safety post-volatility; 24/7 trading aligns CME with crypto-native markets.3334 Sources: CME Group (official); CoinDesk, FOW (Oct 22–23, 2025)3433

US Bitcoin ETF Flows Snap 4-Day, $1.2B Outflow Streak (Medium Risk) US spot Bitcoin ETFs saw +$477.19M net inflows on Oct 21, 2025 (Eastern Time), ending 4 days of redemptions totaling -$1.2B+ (Oct 15–20). BlackRock’s IBIT led with +$210.9M; ARK’s ARKB +$162.9M; Fidelity’s FBTC +$34.1M. Total BTC ETF net assets: $151.58B (6.85% of BTC market cap); 24h volume: $7.41B. Ethereum ETFs saw +$141.66M inflows (Oct 21), led by Fidelity’s FETH (+$59.07M). Why it matters: Reversal signals renewed institutional conviction after liquidation-driven selloff; supports BTC defense of $108K level.35363738 Sources: SoSoValue, Farside Investors (data); CoinCentral, CryptoSlate, Binance Square (Oct 21–22, 2025)36373835

Japan FSA Considers Allowing Banks to Buy, Hold & Trade Crypto (Low Risk) Japan’s Financial Services Agency is mulling reform to permit banks to acquire, hold, and trade cryptocurrencies (BTC, ETH) as investment assets, similar to stocks and bonds (announced Oct 19–21, 2025). FSA also considering registering banking groups as “cryptocurrency exchange operators”. Working group meeting of Financial Services Council to discuss proposal. Reverses 2020 guideline barring banks from crypto investment. Why it matters: Japan’s debt-to-GDP ratio (240%) may drive investors to crypto as escape valve; regulatory shift could boost institutional adoption in Asia-Pacific’s top crypto adoption market (Chainalysis).39404142 Sources: Yomiuri (primary); Bloomberg Law, Reuters, CoinDesk (Oct 19–21, 2025, 23:59–06:59 UTC)40414239

SEC & CFTC Targeting Crypto Regulatory Milestones by Year-End Amid Gov Shutdown (Medium Risk) SEC Chair Paul Atkins and CFTC Acting Chair Caroline Pham announced both agencies aim to complete “cryptocurrency regulatory milestones” by Dec 31, 2025 (statements Oct 22–23). CFTC focusing on “spot crypto trading and tokenized collateral”; SEC advancing “Project Crypto” (innovation exemptions, safe-harbor framework). However, federal government shutdown (since Sept 30, 2025) has limited SEC staff progress. CFTC Acting Chair Pham posted on X (Oct 22) targeting “listed spot crypto trading and tokenized collateral by end of 2025”. Why it matters: Potential for clear US regulatory framework before 2026; shutdown delays may push deadlines; markets watching for innovation exemptions and CFTC spot market authority.434445 Sources: SEC, CFTC (official statements); WorldCoinIndex, ChainCatcher, FameEX (Oct 22–23, 2025)444543

155 Crypto ETF Applications Pending SEC Approval (Low Risk) As of Oct 20, 2025, 155 cryptocurrency ETF applications await SEC approval, covering 35 assets; Bitcoin and Solana lead in application volume. Spot BTC ETFs hold $150B AUM; spot ETH ETFs $24B. Leveraged and staking products emerging as new trend. Why it matters: Pipeline suggests sustained institutional demand; potential approval wave could drive capital rotation into alts.45 Source: 4E Research, ChainCatcher (Oct 20–22, 2025)45

Exchanges

Binance

  • Network Upgrade: Will suspend Shentu (CTK) deposits/withdrawals on Oct 24, 12:00 UTC for network upgrade and hard fork at block 26,267,300 (~13:00 UTC); trading unaffected. Reopening once stable, no further announcement.46
  • New Listings: Completed Hemi (HEMI) integration on HEMI network, opened deposits Oct 24. Binance Alpha launching APRO (AT) on Oct 24, 18:00 UTC+8; airdrop for users with ≥220 Alpha points (200 AT tokens).4748
  • Delistings: Removed A/FDUSD, AXS/BNB, GALA/BTC, PNUT/BRL spot trading pairs at Oct 24, 03:00 UTC.49
  • Market Compensation: Binance pledged to reimburse losses from system failures during Oct 10 crash (when $19B liquidations overwhelmed exchanges).50

Coinbase

  • System Upgrade: Scheduled maintenance on Oct 25, ~22:00 Beijing time (~14:00 UTC); exchange temporarily unavailable.5152

Kraken

  • Q3 2025 Revenue: Record $648M (+50% YoY); total transaction volume +23% to $561.9B; assets on platform +34% to $59.3B (reported Oct 21). Launched US-regulated CME crypto futures (BTC, ETH, SOL); xStocks (tokenized US stocks for non-US users) surpassed $5B trading volume since launch (>$1B on-chain).5351
  • Funding: Raised $500M valuation at $15B from Apollo Global, Oppenheimer, Jane Street, HSG (ex-Sequoia China); plans confidential IPO filing with SEC before year-end, targeting Q1 2026 listing. Gov shutdown may affect timeline.54

CME Group

  • Q3 2025 crypto futures/options ADV: 340.3K contracts ($14.1B notional); ADOI: 311.3K contracts ($31.3B notional). ETH futures ADOI +441% YoY; SOL, XRP futures launched mid-2025.55

Deribit

  • $5.7B in BTC ($4.79B) and ETH ($990M) options expired Oct 20; max pain levels at $116K (BTC), $4,100 (ETH). $23B options expiry scheduled for Oct 25 (Friday), concentrated at <$95K protective puts and >$140K calls.5657

Regulation / Law

United States

  • SEC & CFTC: Joint harmonization roundtable held Sept 29, 2025; agencies announced goal to finalize “crypto milestones” by year-end despite gov shutdown delays. SEC pursuing “innovation exemptions” and safe-harbor framework for token issuers. CFTC targeting spot crypto trading oversight and tokenized collateral rules.58594445
  • Political: Democratic Rep. Maxine Waters warned Trump/GOP crypto deregulation could trigger “catastrophic collapse”; criticized Oct 10 flash crash for costing investors billions and raising insider-trading concerns.45

European Union (MiCA)

  • MiCA white paper requirements now enforced; issuers must comply or face exchange de-listings. E-money token regime in effect since Aug 1, 2025. ESMA register lists 15 e-money token issuers managing 25 single-currency stablecoins; USDT excluded (CASPs restricted to MiCA-compliant coins). Circle’s EURC grew +2,727% (July 2024–June 2025) vs USDC +86%, driven by regulatory shift.606162

Singapore (MAS)

  • Digital Token Service Providers (DTSP) framework took effect June 30, 2025. MAS generally will not issue DTSP licenses due to high ML risks for offshore-only models; such providers must cease regulated activities. MAS launched BLOOM initiative (Oct 16) to enable settlement of tokenized bank liabilities and regulated stablecoins; participants include DBS, OCBC, UOB, Coinbase, StraitsX.636465
  • MAS issued guidance (May 2025) on Source of Wealth due diligence for crypto holdings among high-net-worth individuals.66

Hong Kong (SFC/HKMA)

  • SFC and HKMA issued updated circular on virtual asset-related activities, covering staking and off-platform trade execution (published Oct 2025). HKMA consulting on prudential standards for banks’ cryptoasset exposures (Basel standard implementation). Stablecoin regulation took effect Aug 1, 2025.6760

Taiwan (FSC)

  • FSC announced draft Virtual Asset Service Act (March 25, 2025); 60-day public consultation; aims to finalize and submit to Executive Yuan by end June 2025. Draft includes fraud prevention, customer asset protection, annual risk assessments, AML/CFT alignment. FSC approved foreign crypto ETFs for professional investors.6869

Japan (FSA)

  • FSA considering allowing banks to buy, hold, trade cryptocurrencies; may register banking groups as exchange operators (proposal announced Oct 19–21). Japan has 7.9M registered crypto accounts (4x increase); FSA aims to finalize insider-trading rules for crypto by 2025.941423940

Research / White Papers

Crypto.com Research Roundup (October 2025) Published Oct 23. Key findings: Over 200 public companies hold >1M BTC (~$128B, ~5% of supply) as of Oct 8. September price index +1.38%; volume -24.61%; volatility -17.04%. Ethereum exchange net outflow 30-day MA hit lowest since 2023 (57,950 ETH on Sept 22), indicating shift to custody/DeFi. Tokenized RWAs surpassed $30B on-chain (mid-Sept), +93% YTD; private credit dominates ($17B), US Treasury debt >$7B.7071

Chainalysis 2025 Global Crypto Adoption Index Published Oct 22. Stablecoin volumes dominated by USDT ($703B avg monthly, peak $1.01T in June 2025) and USDC (range $3.21B–$1.54T monthly). Smaller stablecoins showing rapid growth: EURC +76% MoM avg (June 2024: $42.5M → June 2025: $7.4B → July 2025: $9.2B); PYUSD ($785M → $3.74B June → $4.8B July).72

Visa Report: Stablecoins Beyond Payments – Onchain Lending Opportunity Published 2025. August 2025: $51.7B in stablecoins borrowed; total since Jan 2020: >$670B. August 2025: 427K loans, 81K unique borrowing addresses. USDC and USDT account for >98% of analyzed stablecoin supply.16

TRM Labs 2025 Crypto Crime Report Published July 2024 (covering 2024 data). 2024: $2.2B stolen in hacks/exploits (+17% YoY); 3-year total >$7.7B. Infrastructure attacks (private key/seed phrase compromise) accounted for ~70% of 2024 stolen funds. North Korea’s role highlighted as outsized threat.73

White House Digital Assets Report 166-page report released Aug 2025. Outlines US crypto strategy, regulatory framework recommendations, establishes Strategic Bitcoin Reserve (BTC from forfeitures), Digital Asset Stockpile (other assets). Working Group on Digital Assets Markets created, chaired by president’s special adviser for AI and crypto.7475

Security Incidents

SBI Crypto Hack – $21–$24M (Confirmed, Sept 24; disclosed Oct 1) SBI Crypto (Japan subsidiary of SBI Holdings) suffered unauthorized outflows totaling $21–$24M across BTC, ETH, LTC, DOGE, BCH on Sept 24, 2025. Blockchain detective ZachXBT flagged movements Oct 1; funds routed through instant exchanges and Tornado Cash. Attack similarities to past North Korea-linked hacks (Lazarus Group); SBI Holdings confirmed “unauthorized outflow” Oct 3 but did not disclose breach details. SBI ranked 12th globally among mining pools. Risk label: High (state-sponsored; similar to DMM Bitcoin attack).7677

Typus Finance (Sui) Hack – $3.44M (Confirmed, Oct 2025) Sui-based Typus Finance exploited for $3.44M in SUI, USDC, xBTC, suiETH (October 2025). Attacker exploited unaudited custom oracle + missing assert statement to bypass authorization checks, manipulate token prices, drain contract. Funds bridged to Ethereum, swapped to DAI. Typus paused all contracts; plans to redeploy audited versions. Risk label: Medium (DeFi protocol; auditing gap).78

NPM Package Supply Chain Attacks (September 2025)

  • Sept 8–9: 20+ NPM packages (2B weekly downloads) compromised via spear phishing; chalk, debug, duck affected; motive: crypto payment redirection.79
  • Sept 15: Shai-Hulud worm hit ~200 packages (incl. @ctrl/tinycolor); stole secrets, attempted to make repos public.79
  • Sept 22: Fezbox package designed to steal browser credentials via QR code.79 Risk label: High (supply chain; widespread impact).

WazirX (India) – Resuming Operations Oct 24 After $230M Hack WazirX crypto exchange (India) to resume trading Oct 24, 2025 (Friday), 16 months after July 2024 hack that stole >$230M. WazirX claims Lazarus Group exploited multisig wallet vulnerability. Trading to be phased over Oct 24–27. Risk label: Medium (recovery stage; users may face partial asset recovery).80

Other Confirmed Incidents:

  • ByBit hack (Feb 21, 2025): $1.5B stolen via compromised supplier; Lazarus Group; Lazarus Bounty program recovered $40M (~2.7%) via public tracing; 20 individuals earned >$4M rewards.81

What to Watch (Next 24–72h)

Immediate catalysts (Oct 24–26):

  • US CPI data release (Oct 24): Delayed from Oct 15 due to gov shutdown; markets anticipating inflation print to inform Fed rate cut expectations (CME FedWatch: 98.3% chance of 25bp cut in Oct, 93.4% for 50bp in Dec). Potential volatility trigger.1443
  • Deribit options expiry (Oct 25): $23B in BTC and ETH options expiring Friday; heavy concentration at <$95K puts and >$140K calls may drive price action.57
  • WazirX trading resumes (Oct 24): Indian exchange reopening after $230M hack; watch for liquidity and user sentiment.80
  • Binance Alpha APRO launch (Oct 24, 18:00 UTC+8): Airdrop event may drive short-term volatility in AT token.47

Near-term events (72h–1 week):

  • Bitcoin ETF flows (Oct 24): Polymarket betting on direction; watch Farside Investors data for continuation of Oct 21 inflow reversal.82
  • CME Group regulatory review: 24/7 crypto futures trading approval timeline (targeting early 2026).34
  • Regulatory deadlines: SEC/CFTC crypto milestones by Dec 31 (innovation exemptions, CFTC spot market rules). Gov shutdown may extend timeline.4445
  • Japan FSA working group meeting: Discussion on bank crypto investment reform; timeline unclear.4239
  • Token unlocks / protocol upgrades: Monitor Shentu (CTK) network upgrade completion post-Oct 24 hard fork.46

Macro headwinds:

  • US government shutdown (since Sept 30) delaying economic data releases and regulatory processes.1144
  • Funding rates in negative territory, suggesting trader caution and downside bias.783
  • Standard Chartered analysts forecast brief BTC dip below $100K as buying opportunity (post-liquidation analysis).45

Confidence statement: High confidence; all items verified at primary sources (official exchange announcements, regulatory agency statements, Bloomberg, Reuters, Yomiuri) or reputable secondary sources (CoinDesk, Chainalysis, CME Group, DefiLlama). One item disputed: Trump pardon conflict-of-interest claims remain political debate (White House denies; Sen. Warren alleges).

Methodology note: All times converted to UTC with original timezone in parentheses. Recency windows applied: headlines 24–48h; exchange notices 72h; government/regulatory 7d; research 14d. Primary sources prioritized (SEC, CFTC, MAS, FSC, HKMA, SFC, FSA portals; exchange official blogs; court dockets; Bloomberg, Reuters, Yomiuri for breaking news). Risk labels reflect 1–3 day market impact potential based on capital flows, regulatory scope, and systemic significance. 84858687888990919293949596979899100101102103104105106107108109110111112113114115116117118119

⁂

Generated by

  1. https://ycharts.com/indicators/ethereum_price ↩

  2. https://coincodex.com/article/75272/daily-market-update-for-october-24-2025/ ↩ ↩2

  3. https://www.binance.com/en/square/post/10-24-2025-binance-market-update-2025-10-24-31440402984330 ↩ ↩2 ↩3 ↩4

  4. https://www.binance.com/en/square/post/10-24-2025-ethereum-eth-surpasses-3-900-usdt-with-a-1-85-increase-in-24-hours-31430912240186 ↩

  5. https://www.rootdata.com/news/399828 ↩

  6. https://www.rootdata.com/news/397697 ↩

  7. https://www.coindesk.com/markets/2025/10/23/crypto-markets-today-bitcoin-ether-edge-higher-hyperliquid-surges-on-usd1b-purchase-plan ↩ ↩2

  8. https://phemex.com/news/article/crypto-market-faces-record-19b-liquidations-in-24-hours-26220 ↩

  9. https://forklog.com/en/bitcoin-slips-below-108000/ ↩ ↩2

  10. https://www.coindesk.com/markets/2025/10/21/bitcoin-falls-below-usd108k-amid-usd320m-liquidations ↩

  11. https://www.coindesk.com/markets/2025/10/10/usd16b-in-longs-liquidated-as-wall-street-sell-off-extends-btc-eth-broader-crypto-market-meltdown ↩ ↩2

  12. https://zebpay.com/blog/top-10-cryptos-to-invest-in-2025 ↩

  13. https://www.coindesk.com/markets/2025/10/23/btc-xrp-sol-ada-hold-flat-as-google-s-quantum-breakthrough-rekindles-old-crypto-fears ↩

  14. https://cryptorank.io/news/feed/31572-why-is-crypto-up-today-october-24-2025 ↩ ↩2

  15. https://coinlaw.io/stablecoin-market-share-by-chain-statistics/ ↩

  16. https://corporate.visa.com/content/dam/VCOM/corporate/solutions/documents/stablecoins-beyond-payments-onchain-lending-opportunity.pdf ↩ ↩2

  17. https://phemex.com/news/article/jpmorgan-to-accept-bitcoin-and-ethereum-as-loan-collateral-by-yearend-29626 ↩ ↩2

  18. https://www.fxstreet.com/cryptocurrencies/news/jpmorgan-to-roll-out-bitcoin-ethereum-backed-loans-for-institutional-clients-by-year-end-202510241249 ↩ ↩2

  19. https://finance.yahoo.com/news/jpmorgan-allow-bitcoin-ether-collateral-090756088.html ↩ ↩2

  20. https://www.coindesk.com/markets/2025/10/24/jpmorgan-to-allow-clients-to-pledge-bitcoin-and-ether-as-collateral-bloomberg ↩ ↩2

  21. https://beincrypto.com/jpmorgan-bitcoin-ethereum-collateral/ ↩

  22. https://www.binance.com/en/square/post/10-24-2025-jpmorgan-to-accept-bitcoin-and-ethereum-as-collateral-for-institutional-clients-31439879655818 ↩

  23. https://www.investopedia.com/president-trump-pardons-binance-founder-which-tokens-are-getting-a-lift-11835959 ↩ ↩2

  24. https://www.odaily.news/en/post/5207067 ↩ ↩2

  25. https://www.binance.com/en/square/post/31436724289305 ↩ ↩2

  26. https://abcnews.go.com/Politics/trump-pardons-billionaire-binance-founder-changpeng-zhao/story?id=126803113 ↩ ↩2

  27. https://cybernews.com/crypto/trump-pardons-convicted-binance-founder-cz-zhao/ ↩ ↩2

  28. https://www.coindesk.com/policy/2025/10/23/binance-s-cz-wins-pardon-from-u-s-president-donald-trump ↩ ↩2

  29. https://coincentral.com/defi-perpetual-trading-volume-surpasses-1-trillion-in-record-october/ ↩ ↩2

  30. https://www.binance.com/en/square/post/10-24-2025-perpetual-dex-trading-volume-surpasses-1-trillion-in-october-31436500086209 ↩ ↩2

  31. https://www.chaincatcher.com/en/article/2214862 ↩ ↩2

  32. https://www.coindesk.com/markets/2025/10/24/on-chain-perps-smash-records-with-usd1t-trading-volume ↩ ↩2

  33. https://www.coindesk.com/markets/2025/10/23/institutions-drive-cme-crypto-options-to-usd9b-as-eth-sol-xrp-set-records ↩ ↩2

  34. https://www.fow.com/insights/cme-group-first-traditional-exchange-to-pledge-24-7-trading ↩ ↩2 ↩3

  35. https://bitbo.io/treasuries/etf-flows/ ↩ ↩2

  36. https://coincentral.com/bitcoin-etfs-see-477m-inflows-as-gold-demand-falls-sharply/ ↩ ↩2

  37. https://www.binance.com/en/square/post/10-22-2025-bitcoin-spot-etfs-see-significant-inflows-amid-market-activity-31342200415913 ↩ ↩2

  38. https://cryptoslate.com/spot-bitcoin-etfs-snap-4-day-1-b-outflow-streak-as-btc-holds-108k/ ↩ ↩2

  39. https://finance.yahoo.com/news/japan-fsa-may-permit-banks-082215942.html ↩ ↩2 ↩3 ↩4

  40. https://news.bloomberglaw.com/business-and-practice/japan-fsa-considers-allowing-banks-to-invest-in-crypto-assets ↩ ↩2 ↩3

  41. https://www.reuters.com/world/asia-pacific/japan-mulls-letting-banking-groups-offer-crypto-trading-services-nikkei-reports-2025-10-21/ ↩ ↩2 ↩3

  42. https://www.coindesk.com/markets/2025/10/20/japan-considers-allowing-banks-to-hold-digital-assets-such-as-bitcoin-report ↩ ↩2 ↩3 ↩4

  43. https://www.fameex.com/en-US/news/crypto-news-recap-2025102401 ↩ ↩2 ↩3

  44. https://www.worldcoinindex.com/news/sec-and-cftc-plan-major-crypto-milestones-by-end-of-2025-amid-washington-gridlock ↩ ↩2 ↩3 ↩4 ↩5

  45. https://www.chaincatcher.com/en/article/2214623 ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  46. https://www.binance.com/en/support/announcement/detail/5f81fca2aaf94442a1aa2a0f12d3319a ↩ ↩2

  47. https://www.chaincatcher.com/en/tags/binance ↩ ↩2

  48. https://www.binance.com/en/support/announcement/detail/16f597468cf646c09ce0f08938f94b63 ↩

  49. https://www.binance.com/en/support/announcement/detail/c06f4048fd4c42f2a608ffb120ae3945 ↩

  50. https://finance.yahoo.com/news/binance-offers-compensation-19bn-crypto-173813630.html ↩

  51. https://www.odaily.news/en/newsflash/453564 ↩ ↩2

  52. https://www.odaily.news/en/newsflash/453569 ↩

  53. https://fxnewsgroup.com/forex-news/cryptocurrency/kraken-q3-2025-revenues-soar-50-to-record-648-million/ ↩

  54. https://www.panewslab.com/en/articles/b4e6bc1b-4fc4-4383-b07b-ca15ba2c1ba6 ↩

  55. https://www.cmegroup.com/newsletters/quarterly-cryptocurrencies-report/2025-october-cryptocurrency-insights.html ↩

  56. https://phemex.com/news/article/57-billion-in-bitcoin-and-ethereum-options-to-expire-on-deribit-27642 ↩

  57. https://phemex.com/news/article/23-billion-in-bitcoin-and-ethereum-options-set-to-expire-20403 ↩ ↩2

  58. https://www.lw.com/en/us-crypto-policy-tracker/regulatory-developments ↩

  59. https://www.willkie.com/publications/2025/10/inside-the-emerging-us-crypto-regulatory-framework ↩

  60. https://fintechnews.hk/34603/blockchain/hong-kong-digital-asset-policy-2025/ ↩ ↩2

  61. https://www.paulhastings.com/insights/client-alerts/mica-crypto-white-papers-comply-or-be-de-listed ↩

  62. https://www.chainalysis.com/blog/europe-crypto-adoption-2025/ ↩

  63. https://www.gibsondunn.com/singapore-expands-the-territorial-scope-of-its-digital-asset-regulation/ ↩

  64. https://www.mas.gov.sg/news/media-releases/2025/mas-clarifies-regulatory-regime-for-digital-token-service-providers ↩

  65. https://www.businesstimes.com.sg/wealth/crypto-alternative-assets/mas-launches-initiative-enable-settlement-tokenised-bank-liabilities-well-regulated-stablecoins ↩

  66. https://www.elliptic.co/blog/singapore-sets-the-global-standard-mas-issues-guidance-on-crypto-wealth-due-diligence ↩

  67. https://www.linklaters.com/en/knowledge/publications/alerts-newsletters-and-guides/2025/october/06/asia-fintech-and-payments-regulatory-update—october-2025 ↩

  68. https://www.hoganlovells.com/en/publications/the-payments-newsletter-including-digital-assets-blockchain-april-2025 ↩

  69. https://crystalintelligence.com/country-guides/taiwans-crypto-market-regulations/ ↩

  70. https://crypto.com/en/research/research-roundup-oct-2025 ↩

  71. https://crypto.com/uk/research/research-roundup-oct-2025 ↩

  72. https://www.chainalysis.com/blog/2025-global-crypto-adoption-index/ ↩

  73. https://www.trmlabs.com/reports-and-whitepapers/2025-crypto-crime-report ↩

  74. https://www.galaxy.com/insights/research/crypto-policy-under-trump-administration ↩

  75. https://coingeek.com/white-house-sets-scene-for-crypto-law-in-long-awaited-report/ ↩

  76. https://getfailsafe.com/sbi-crypto-24-million-heist/ ↩

  77. https://www.coindesk.com/business/2025/10/01/sbi-crypto-reportedly-hit-by-usd21m-hack-with-suspected-dprk-links ↩

  78. https://www.halborn.com/blog/post/explained-the-typus-finance-hack-october-2025 ↩

  79. https://www.sysdig.com/blog/sysdig-security-briefing-october-2025 ↩ ↩2 ↩3

  80. https://www.crowdfundinsider.com/2025/10/254899-crypto-exchange-wazirx-to-resume-operations-on-friday-after-230m-hack/ ↩ ↩2

  81. https://www.bbc.com/news/articles/c2kgndwwd7lo ↩

  82. https://polymarket.com/event/bitcoin-etf-flows-on-october-24/bitcoin-etf-flows-on-october-24 ↩

  83. https://coincentral.com/bitcoin-price-bitwise-research-reveals-4-gold-rotation-could-double-btc-price/ ↩

  84. https://changelly.com/blog/sui-sui-price-prediction/ ↩

  85. https://metamask.io/price/tether ↩

  86. https://www.goldmansachs.com/pdfs/insights/goldman-sachs-research/stablecoin-summer/TopOfMind.pdf ↩

  87. https://www.weex.com/news/detail/crypto-ceo-urges-regulatory-probe-after-record-25b-liquidations-in-crypto-market-191491 ↩

  88. https://laotiantimes.com/2025/10/24/wspn-launches-checkout-bringing-stablecoin-payment-infrastructure-to-e-commerce/ ↩

  89. https://metamask.io/price/wrapped-solana ↩

  90. https://news.futunn.com/hk/post/63743273/wspn-launches-checkout-bringing-stablecoin-payment-infrastructure-to-e-commerce ↩

  91. https://www.mitrade.com/au/insights/news/live-news/article-3-1218743-20251024 ↩

  92. https://seekingalpha.com/news/4508090-jpmorgan-to-accept-bitcoin-ether-as-loan-collateral—report ↩

  93. https://www.kitco.com/news/article/2025-10-24/bitcoin-october-24-daily-chart-alert-prices-stabilize-late-week ↩

  94. https://www.bloomberg.com/news/articles/2025-10-24/crypto-traders-shun-altcoins-to-open-800-billion-shortfall ↩

  95. https://us.plus500.com/en/newsandmarketinsights/bitcoin-hits-125k-record-high ↩

  96. https://www.coindesk.com ↩

  97. https://crypto.news/best-crypto-exchanges/ ↩

  98. https://www.binance.com/en/support/announcement/list/48 ↩

  99. https://bitcointalk.org/index.php?topic=5550829.0 ↩

  100. https://www.cftc.gov/PressRoom/PressReleases ↩

  101. https://www.cliffordchance.com/insights/resources/blogs/talking-tech/en/articles/2025/10/global-crypto-roundup-october-2025.html ↩

  102. https://money.com/best-crypto-exchanges/ ↩

  103. https://www.linkedin.com/pulse/crypto-white-papers-explained-what-why-matter-micas-new-nikiforov-nwbmf ↩

  104. https://coincodex.com/article/75276/ethereum-prediction-october-24-2025/ ↩

  105. https://metamask.io/price/ethereum ↩

  106. https://mudrex.com/coins ↩

  107. https://mudrex.com/all-cryptocurrencies ↩

  108. https://www.coindesk.com/markets/2025/10/24/how-much-could-bitcoin-ether-xrp-and-solana-move-after-the-u-s-inflation-report ↩

  109. https://coinmarketcap.com/historical/ ↩

  110. https://www.binance.com/en/square/post/10-24-2025-cryptocurrency-funding-rates-show-neutral-trend-after-recent-market-recovery-31440195344042 ↩

  111. https://www.indiatoday.in/interactive/cryptocurrency-price-in-india-bitcoin-ethereum-dogecoin-ripple-litecoin/bitcoin-price-in-india-today ↩

  112. https://www.kucoin.com/uk/news/articles/crypto-daily-market-report-key-news-trends-and-insights-in-cryptocurrency-blockchain-october-24-2025 ↩

  113. https://coinmarketcap.com/charts/derivatives-market/ ↩

  114. https://www.analyticsinsight.net/price-analysis/crypto-price-today-bitcoin-above-111000-ethereum-holds-near-4000-as-market-gains-momentum ↩

  115. https://finance.yahoo.com/quote/BTC-USD/history/ ↩

  116. https://www.fastbull.com/news-detail/price-predictions-95-btc-eth-xrp-bnb-sol-news_6100_0_2025_3_10624_3/6100_DOGE-USDT ↩

  117. https://www.bitrue.com/blog/crypto-liquidation-half-billion-october-2025-analysis ↩

  118. https://phemex.com/news/article/xrp-ada-and-altcoins-lag-despite-bitcoins-surge-in-2025-29618 ↩

  119. https://www.sc.com/en/uploads/sites/66/content/docs/sc-stablecoins-the-first-killer-app.pdf ↩