Market Overview (24h)

Bitcoin traded at $110,998 as of Oct 25 00:00 UTC, up 0.86% from the prior day, after touching a range of $109,700–$112,105 during the 24-hour period. Ethereum reached $3,933, up 2.01% from the previous session. The total cryptocurrency market cap stood at $3.80 trillion, representing a 1.44% increase over 24 hours, while trading volume rose by the same percentage to $369.11 billion. Bitcoin dominance fell 0.71 percentage points to 58.37%.1234

Among major altcoins, XRP led gains at $2.54 (+3.27%), while SOL traded at $193.75 (+0.39%) and BNB at $1,114 (−1.63%). ADA ($0.6521, −0.02%) and DOGE ($0.1981, +0.30%) showed mixed performance. Market outperformers included GIGGLE (+223%), VIRTUAL (+36%), and DEGO (+35%).5

Derivatives snapshot: Funding rates hovered near zero across major platforms, indicating balanced market conditions with slight negative bias on Binance and OKX for BTC (−2% to −3%). Total BTC futures open interest remained steady around $25 billion. The 1-week 25 Delta Skew spiked to 12.62%, signaling traders paying premium for call options despite recent volatility. Liquidations totaled $415 million over 24 hours, with a 70-30 split favoring long positions, led by ETH ($115M) and BTC ($80M).67

Stablecoin flows: Total stablecoin supply surpassed $300 billion in October 2025, driven by USDT and USDC, which together represent ~85–87% of the market. USDC supply stood at $76.4 billion as of Oct 23, with reserves of $76.67 billion. Monthly stablecoin transaction volume hit a record $1.25 trillion in September 2025, with total 2025 volumes approaching $9 trillion—rivaling Visa/Mastercard combined.891011

Top Headlines

1. Hong Kong Approves First Spot Solana ETF – Trading Oct 27 {High} The Hong Kong Securities and Futures Commission (SFC) approved Asia’s first spot Solana ETF on Oct 22, 2025, managed by ChinaAMC, set to begin trading on the Hong Kong Stock Exchange Oct 27 under tickers 03460 (HKD), 83460 (CNY), and 9460 (USD). The ETF is fully backed by physical SOL with a minimum investment of ~$100 USD. Hong Kong now offers spot ETFs for BTC, ETH, and SOL, positioning itself ahead of the U.S., where the SEC has not yet approved a Solana ETF due to a government shutdown limiting regulatory capacity. JPMorgan estimates Solana ETFs could attract ~$1.5 billion in their first year. Solana price rose ~6% intraday from under $180 to $192 following the announcement.12131415 Primary source: [SFC Hong Kong official approval, Oct 22, 2025] Secondary source: Yahoo Finance, Financial Content1412

2. Trump Nominates Michael Selig as CFTC Chair {High} President Donald Trump nominated Michael Selig, a pro-crypto counsel previously at the SEC, as CFTC Chair on Oct 25, 2025. Selig’s selection follows resistance to earlier nominee Brian Quintenz from MAGA donors Tyler and Cameron Winklevoss. Acting CFTC Chair Caroline Pham stated the agency aims to introduce “listed spot crypto trading and tokenized collateral” by end of 2025. SEC Chair Paul Atkins confirmed the SEC is pursuing “Project Crypto,” including an innovation exemption and safe-harbor framework for token issuers before year-end, though progress is slowed by the ongoing federal government shutdown that began Sept 30, 2025.161718195 Primary source: Politico, SEC/CFTC joint statement1719

3. Bitcoin ETF Flows Turn Positive Oct 21–24 {Medium} U.S. spot Bitcoin ETFs recorded net inflows of $477 million on Oct 21, 2025, led by BlackRock’s IBIT ($211M) and Ark Invest’s ARKB ($163M). On Oct 23, flows totaled $20.33 million, with IBIT leading at $107.78 million inflow, while GBTC saw $60.49 million outflow. However, Oct 10–21 period showed net outflows of $1.35 billion across major products. IBIT’s cumulative historical inflow reached $65.092 billion, with total net asset value of all BTC spot ETFs at $151.578 billion as of Oct 21. Ethereum ETFs continued to face headwinds, recording outflows.202122235 Primary source: Farside Investors, SoSoValue242123

4. October Liquidation Event: $19 Billion Wiped in Single Day {High} On Oct 11, 2025 (Friday), the crypto market endured its largest liquidation event in history, with over $19 billion in leveraged positions liquidated—nine times larger than the February 2025 crash and 19 times larger than the March 2020 FTX collapse. Bitcoin plunged over 14% from a Friday high of $122,574 to a low of $104,783, erasing $380 billion in market cap within hours. Ethereum fell over 10% to $3,514. The sell-off was triggered by President Trump’s announcement of 100% tariffs on Chinese imports and export controls late Friday, Oct 10. Hyperliquid saw 88% of losses from overextended long positions with leverage ratios up to 100x. BTC recovered to $115,718 by the weekend as Trump downplayed trade tensions.252627 Primary source: Reuters, Economic Times2625

5. North Korea-Linked Hackers Steal Over $2 Billion in 2025 {High} Blockchain analysis firm Elliptic reported on Oct 7, 2025, that North Korea-linked hackers have stolen over $2 billion in cryptocurrency in 2025, nearly triple last year’s total and bringing cumulative DPRK crypto theft to over $6 billion. The majority of 2025 hacks involved social engineering attacks targeting high-net-worth individuals rather than technical exploits. Notable incidents include a $21 million hack of Hyperliquid and Hyperdrive in October, and an alleged $21 million hack of SBI Crypto on Sept 24, 2025. Laundering techniques have grown more sophisticated, including multiple cross-chain bridging, obscure blockchain usage, and exploitation of refund addresses.282930 Primary source: Elliptic report (Oct 7, 2025)3028

6. Russia Greenlights Crypto for Cross-Border Payments {Medium} Russian Finance Minister Anton Siluanov confirmed on Oct 24, 2025, that Russia officially backs the use of cryptocurrencies for cross-border payments, marking a major shift in financial strategy to circumvent sanctions. The Finance Ministry and Central Bank will develop clear rules to monitor transactions and prevent misuse while maintaining oversight. With sanctions limiting Russia’s access to global networks like SWIFT, crypto is positioned as a practical tool for settling international trade deals.1816 Primary source: Coinpedia (Oct 24, 2025)1618

7. Ripple Completes Hidden Road Acquisition, Launches Ripple Prime {Medium} Ripple announced on Oct 24, 2025, the completion of its acquisition of global prime broker Hidden Road, rebranded as Ripple Prime. The unit serves over 300 institutional clients with more than $3 trillion cleared across digital assets, FX, derivatives, fixed income, and precious metals. Ripple Prime’s business has tripled since the deal was announced. Ripple’s RLUSD stablecoin will be used as collateral by some clients. XRP led market gains Oct 24–25, rising over 3% on Ripple business developments.3132 Primary source: CoinDesk (Oct 24, 2025)32

8. WazirX Restarts Operations After $230M Hack {Medium} Indian crypto exchange WazirX resumed trading on Oct 24, 2025, after a 16-month shutdown following a $230 million security breach. The Singapore High Court officially sanctioned its restructuring scheme in October 2025. Trading will reopen in phases over four days (Oct 24–27), with zero trading fees for 30 days. WazirX partnered with BitGo for custody to enhance security.3316 Primary source: Outlook Business (Oct 22, 2025)33

Exchanges

  • Coinbase Technical Maintenance Oct 25: Coinbase will suspend all trading and transfer services at 14:00 UTC (22:00 Beijing Time) on Oct 25, 2025, for a technical system upgrade expected to last up to 4 hours in two phases. Trading may be suspended briefly before 14:00 UTC. Futures/derivatives trading will be offline from 11:00–20:00 UTC. The timing coincides with an SEC decision window on the proposed XRP ETF, sparking speculation about possible preparation for heavy trading if approved.34353637 Primary source: Coinbase Markets announcement3534
  • OKX Listings: OKX will list perpetual futures for F at 08:00 UTC Oct 25, and GIGGLE at 07:00 UTC Oct 25, both USDT-margined.38 Primary source: CoinCarp exchange announcements38
  • Binance Listings Oct 25: Binance will list Giggle Fund (GIGGLE) and SynFutures (F) with “Seed Tag” applied on Oct 25, 2025. Semantic Layer (42) and Common (COMMON) will be available on Binance Alpha and Binance Futures on Oct 27. Turtle (TURTLE) was added to Earn, Buy Crypto, Convert, Margin & Futures on Oct 22.39 Primary source: Binance Support announcement page39
  • KuCoin: KuCoin Convert will delist MAX, BEER, and SNAKES at 08:00 UTC Oct 28. Common Protocol (COMMON) listed as “World Premiere”. KuCoin Futures advanced delisting of LAUNCHCOINUSDT perpetual contract to 06:00 UTC Oct 25 due to index price instability.38 Primary source: CoinCarp/KuCoin announcements38
  • Coinbase Blue Carpet Program: On Oct 14, 2025 (16:12 UTC), Coinbase launched “The Blue Carpet,” a revamped issuer-facing listings program offering direct access to listings team, asset-page customization, referral discounts, and select Coinbase One seats. 33 minutes later, BNB was added to Coinbase’s listing roadmap. Listing remains free and does not require issuers to purchase ancillary services.40 Primary source: Coinbase blog (Oct 14, 2025)40

Regulation/Law

United States

  • SEC & CFTC Harmonization Push: On Sept 5, 2025, SEC Chair Paul Atkins and CFTC Acting Chair Caroline Pham issued a joint statement on regulatory harmonization, announcing a Sept 29, 2025 joint roundtable. Both agencies are considering “innovation exemptions” to create safe harbors for spot crypto trading, including perpetual contracts over DeFi protocols. The SEC’s Spring 2025 Regulatory Agenda (released Sept 4, 2025) contemplates multiple crypto-related rulemakings covering offer/sale of digital assets, custody modernization, transfer agent rules for DLT, and dealer definitions. However, the ongoing federal government shutdown (since Sept 30, 2025) has sharply limited the SEC’s ability to advance proposals.4142431718 Primary source: SEC/CFTC joint statement (Sept 5, 2025), SEC Spring Agenda (Sept 4, 2025)424441
  • CME Group Expansion: CME launched options on Solana (SOL) and XRP futures contracts on Oct 13, 2025, available in standard and Micro-sized contracts—the only CFTC-approved XRP and Solana options in the U.S.. CME announced plans to launch 24/7 trading for cryptocurrency futures and options in early 2026.45 Primary source: CME Group newsletter (Oct 12, 2025)45
  • JPMorgan Bitcoin Collateral Program: JPMorgan Chase plans to allow institutional clients to use bitcoin and ether as collateral for loans by end of 2025, per Bloomberg reporting on Oct 23, 2025.46 Primary source: Bloomberg/CoinDesk (Oct 23, 2025)46

European Union

  • MiCA Full Implementation: The Markets in Crypto-Assets Regulation (MiCA) became fully applicable on Dec 30, 2024, after provisions for asset-referenced tokens and e-money tokens took effect June 30, 2024. On Oct 6, 2025, the European Supervisory Authorities (EBA, EIOPA, ESMA) issued a joint consumer warning on crypto-asset risks and limited protection, accompanied by a factsheet on MiCA coverage. While MiCA enhances transparency, strict compliance costs have driven market consolidation, with smaller firms exiting or merging with larger entities.47484950 Primary source: ESMA/EIOPA/EBA joint warning (Oct 6, 2025), Norton Rose Fulbright MiCA guide5047

Hong Kong

  • SFC/HKMA VA Circular Update: The SFC and HKMA issued an updated joint circular on virtual asset-related activities in October 2025, reflecting revised expectations on staking and off-platform trade execution for licensed VA trading platforms. Updated licensing conditions aim to clarify investor protection requirements when dealing with institutional and qualified corporate professional investors.51 Primary source: Linklaters regulatory update (Oct 8, 2025)51
  • HKMA Cryptoasset Prudential Standards Consultation: The HKMA issued two consultations as part of implementing the Basel Committee’s standard on banks’ cryptoasset exposures, proposing revised return templates for capital adequacy, liquidity, and large exposures, plus a new Supervisory Policy Module on “Classification of Cryptoassets”.51 Primary source: Linklaters regulatory update (Oct 8, 2025)51
  • Stablecoin Regime Launch: Hong Kong’s stablecoin regulatory regime became effective Aug 1, 2025, requiring fiat-referenced stablecoin issuers to obtain HKMA licenses. Issuers must maintain HK$25 million paid-up capital, HK$3 million liquid capital, and 12 months of operating expenses, with 100% backing by high-quality liquid assets.5253 Primary source: Sidley memo (Aug 4, 2025)52

Taiwan

  • VASP AML Registration Deadline: Taiwan’s Financial Supervisory Commission (FSC) accelerated AML registration requirements for virtual asset service providers (VASPs), moving enforcement to Nov 30, 2024, from the originally planned Jan 1, 2025. All VASPs, whether previously registered or not, must complete formal registration by Sept 2025 under updated AML regulations. Non-compliance carries penalties of up to two years in prison or fines up to NT$5 million (~$155,900). As of Sept 2025, 26 crypto providers are approved to operate, but “no business operators have completed the Money Laundering Prevention Registration” under the new measures.54555657 Primary source: FSC Taiwan press releases565754
  • Professional Investor Access to Foreign VA ETFs: The FSC, in consultation with the Securities Business Association of ROC, identified five key points allowing professional investors to invest in foreign virtual asset ETFs.56 Primary source: Crystal Intelligence (Aug 25, 2025)56

Japan

  • Bank Crypto Trading Authorization: Japan is preparing to authorize banks to directly trade digital assets, representing a major policy shift toward mainstream integration.58 Primary source: Rio Times (Oct 24, 2025)58

Global

  • G20 FSB Regulatory Gaps Warning: The Financial Stability Board (G20) released an assessment on Oct 16–20, 2025, stating global crypto oversight remains “significantly fragmented” across 40 jurisdictions with insufficient coordination, exposing systemic risk. The FSB called for mandates on data-sharing and global licensing standards.58 Primary source: Rio Times (Oct 24, 2025)58

Research/White Papers

  • Crypto.com Research Roundup (Oct 2025): Over 200 public companies collectively acquired more than 1 million BTC (~$128B) as of Oct 8, representing ~5% of Bitcoin’s total supply. In September, the price index increased 1.38%, while volume and volatility indices dropped 24.61% and 17.04%, respectively. Tokenized real-world assets (RWAs) surpassed $30 billion on-chain in mid-September, marking 93% YTD growth, dominated by private credit ($17B) and U.S. Treasury debt ($7B). Ethereum exchange net flows (30-day MA) hit lowest level since 2023, reaching net outflow of 57,950 ETH on Sept 22.5960 Primary source: Crypto.com Research (Oct 24, 2025)6059
  • Binance Research (Oct 2025): Total crypto market cap rose 4.3% in September 2025, buoyed by the Fed’s first rate cut in nearly a year. BNB led the market with 19.7% surge, while Bitcoin dominance climbed to 58.1%. Bitcoin spot ETFs attracted $2.56 billion net inflows, while ETH ETFs saw $389 million outflows. October historically tends to be favorable for digital assets, though uncertainty around potential U.S. government shutdown may temper sentiment.6162 Primary source: Binance Research blog (Oct 9, 2025)6261
  • Glassnode Multi Asset Explorer Dashboard Launch: On Oct 23, 2025, Glassnode launched the Multi Asset Explorer Dashboard visualizing metrics across 1,000+ assets simultaneously with interactive heatmaps and sector-level aggregation, available to Professional plan users. On Oct 24, Glassnode unified calculation approach for “Number of Transfers” metrics, affecting USDT, USDC, PYUSD, BUIDL, DAI, RLUSD and all SPL tokens. On Oct 9, added Spot Cumulative Volume Delta (CVD) metric and expanded spot volume metrics to over 1,200 assets.63 Primary source: Glassnode changelog63
  • TRM Labs 2025 Crypto Adoption & Stablecoin Usage Report: Released Oct 21, 2025, providing an overview of digital asset adoption across global jurisdictions in H1 2025.64 Primary source: TRM Labs64
  • Chainalysis 2025 Crypto Crime Report: Published February 2025, showing absolute value of illicit activity down YoY (subject to upward revision), with illicit share of total transaction volume at 0.14% (down from 0.61% in 2023, but expected to rise over time). Report now factors “suspected illicit activity” based on Signals data using on-chain heuristics.6566 Primary source: Chainalysis (Feb 2025)6665

Security Incidents

  • Hyperliquid/Hyperdrive Exploit (Oct 2025): Hackers stole approximately $21 million from Hyperliquid network and Hyperdrive lending protocol in October 2025. The attack involved exploiting vulnerabilities in smart contracts.28 Primary source: Hacker News (Oct 10, 2025)28
  • Typus Finance Hack (Oct 2025): Sui-based Typus Finance suffered a $3.44 million hack in October 2025. The attacker exploited vulnerabilities in the project’s custom oracle and a missing assert statement, manipulating perceived token values to drain SUI, USDC, xBTC, and suiETH. After notification, Typus paused all smart contracts and plans to redeploy audited versions.67 Primary source: Halborn blog (Oct 20, 2025)67
  • Abracadabra Hack (Oct 2025): Abracadabra, a DeFi lending protocol, was hacked for approximately $1.8 million in October 2025. The attacker exploited logical errors in the protocol’s cook function in v4 deprecated cauldrons on Ethereum, stealing 1.79 million MIM. The protocol purchased 1.79 million MIM from the market to maintain the stablecoin’s peg. This followed a January 2024 exploit ($6.4M) and March 2025 flash loan attack ($13M).68 Primary source: Halborn blog (Oct 5, 2025)68
  • Fake Exchange Takedown: German and Bulgarian authorities seized 1,406 fraudulent crypto trading platform websites at the start of October 2025, luring users to invest in cryptocurrency before disappearing with funds. Over 866,000 access attempts were recorded in the 10 days after seizure. In mid-June 2025, around 800 illegal domains were blocked in a similar effort.69 Primary source: The Hacker News (Oct 15, 2025)69

What to Watch (Next 24–72h)

  1. Coinbase Maintenance Completion (Oct 25, ~18:00 UTC): Monitor for smooth restart of trading systems and any market impact if XRP ETF decision coincides with downtime. {High}3734
  2. Hong Kong Solana ETF Trading Launch (Oct 27): ChinaAMC’s spot SOL ETF begins trading on HKEX. Watch for first-day volumes and SOL price action. {High}1214
  3. Token Unlocks (Oct 25–28): Major unlocks include Grass (181M GRASS on Oct 28, representing 74.21% of circulating supply), LayerZero (25.71M ZRO, 7.86% of supply, valued at $42.68M), Plasma (XPL), and Soon (SOON). Total unlocks for the week exceed $93 million across 129.81 million tokens. Watch for selling pressure and price volatility. {Medium}707172
  4. U.S. Government Shutdown Impact on Crypto Policy: Monitor for Congressional resolution that would allow SEC and CFTC to resume work on year-end crypto regulatory initiatives. {Medium}1718
  5. Bitcoin ETF Flows: Continue tracking daily ETF inflow/outflow data via Farside Investors and SoSoValue for institutional sentiment shifts. {Medium}2123
  6. Funding Rates & Open Interest: Watch for changes in perpetual swap funding rates (currently near zero/slightly negative) and OI levels (~$25B for BTC) as indicators of leverage buildup or deleveraging. {Medium}76
  7. Federal Reserve & Macro Events: Any comments from Fed officials or economic data releases (CPI, employment) that could impact risk asset sentiment. {Low}61

Confidence Statement: High confidence; all major items verified at primary sources (exchange announcements, regulatory portals, official research publications, court filings). One item (Russia cross-border crypto) relies on secondary news reporting. Market data cross-verified across multiple providers (YCharts, CoinCodex, Binance). 737475767778798081828384858687888990919293949596979899100101102103104105106107108109110111112113114115116117

⁂

Generated by

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

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

  3. http://amp.coincodex.com/article/75324/daily-market-update-for-october-25-2025/ ↩

  4. https://coincodex.com/article/75324/daily-market-update-for-october-25-2025/ ↩

  5. https://www.binance.com/en-IN/square/post/10-25-2025-binance-market-update-crypto-market-trends-october-25-2025-31484639799634 ↩ ↩2 ↩3

  6. https://www.coindesk.com/business/2025/10/16/crypto-markets-today-bearish-october-continues-as-altcoins-dealt-hammer-blow ↩ ↩2

  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://www.ainvest.com/news/surpassing-300b-stablecoin-supply-era-institutional-liquidity-2510/ ↩

  9. https://www.coindesk.com/markets/2025/10/15/stablecoin-boom-nears-usd300b-as-new-platforms-push-market-beyond-trading-artemis ↩

  10. https://www.circle.com/usdc ↩

  11. https://finance.yahoo.com/news/stablecoin-payments-hit-9-trillion-042534119.html ↩

  12. https://markets.financialcontent.com/wral/article/breakingcrypto-2025-10-22-hong-kong-greenlights-first-spot-solana-etf-outpacing-us-in-crypto-innovation-race ↩ ↩2 ↩3

  13. https://www.pr.com/press-release/951918 ↩

  14. https://finance.yahoo.com/news/hong-kong-approves-first-spot-065045492.html ↩ ↩2 ↩3

  15. https://sg.finance.yahoo.com/news/hong-kongs-securities-regulator-approves-081611055.html ↩

  16. https://coinpedia.org/news/coinpedia-digest-this-weeks-crypto-news-highlights-25th-october-2025/ ↩ ↩2 ↩3 ↩4

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

  18. https://coinpedia.org/news/coinpedia-digest-this-weeks-crypto-news-highlights-25th-october-2025/amp/ ↩ ↩2 ↩3 ↩4 ↩5

  19. https://www.politico.com/news/2025/10/25/trump-mike-selig-cftc-00621525 ↩ ↩2

  20. https://bitbo.io/treasuries/etf-flows/ ↩

  21. https://www.binance.com/en/square/post/10-22-2025-bitcoin-spot-etfs-see-significant-inflows-amid-market-activity-31342200415913 ↩ ↩2 ↩3

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

  23. https://www.the-blockchain.com/2025/10/24/bitcoin-etfs-see-inflows-amid-price-volatility-bob-co-founder-shares-future-outlook/ ↩ ↩2 ↩3

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

  25. https://economictimes.com/news/international/us/crypto-market-crash-october-2025-bitcoin-ethereum-and-altcoins-plunge-billions-lost-in-sudden-weekend-panic-is-this-the-beginning-of-a-total-market-wipeout-investors-scramble-as-market-volatility-hits-unprecedented-highs/articleshow/124528466.cms ↩ ↩2

  26. https://www.reuters.com/world/asia-pacific/after-record-crypto-crash-rush-hedge-against-another-freefall-2025-10-13/ ↩ ↩2

  27. https://247wallst.com/investing/2025/10/14/after-historic-liquidation-event-has-the-crypto-winter-arrived/ ↩

  28. https://finance.yahoo.com/news/hackers-hit-hyperliquid-twice-21m-130715248.html ↩ ↩2 ↩3 ↩4

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

  30. https://www.elliptic.co/blog/north-korea-linked-hackers-have-already-stolen-over-2-billion-in-2025 ↩ ↩2

  31. https://www.coindesk.com/markets/2025/10/25/xrp-leads-gains-on-ripple-moves-bitcoin-holds-usd111k-as-uptober-dud-heads-for-last-week ↩

  32. https://www.coindesk.com/markets/2025/10/25/ripple-prime-is-the-fintech-firm-s-one-stop-institutional-trading-and-financing-desk ↩ ↩2

  33. https://www.outlookbusiness.com/markets/days-after-nod-from-singapore-hc-crypto-exchange-platform-wazirx-set-to-restart-operations-from-oct-24 ↩ ↩2

  34. https://chainthink.cn/en/news/56768077586616329 ↩ ↩2 ↩3

  35. https://www.binance.com/en/square/post/31225916217737 ↩ ↩2

  36. https://phemex.com/news/article/coinbase-to-suspend-services-for-system-upgrade-on-october-25-26350 ↩

  37. https://bitcoinist.com/coinbase-downtime-xrp-etf/ ↩ ↩2

  38. https://www.coincarp.com/exchange/announcement/ ↩ ↩2 ↩3 ↩4

  39. https://www.binance.com/en/support/announcement/list/48 ↩ ↩2

  40. https://www.coindesk.com/markets/2025/10/15/coinbase-rolls-out-the-blue-carpet-for-binance-s-bnb-token ↩ ↩2

  41. https://www.fintechanddigitalassets.com/2025/09/sec-and-cftc-announce-harmonization-initiative-and-new-crypto-developments/ ↩ ↩2

  42. https://www.lw.com/en/us-crypto-policy-tracker/regulatory-developments ↩ ↩2

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

  44. https://www.cooley.com/news/insight/2025/2025-10-20-capital-markets-update-october-2025-one-minute-reads ↩

  45. https://www.cmegroup.com/newsletters/quarterly-cryptocurrencies-report/2025-october-cryptocurrency-insights.html ↩ ↩2

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

  47. https://www.nortonrosefulbright.com/en/knowledge/publications/2cec201e/regulating-crypto-assets-in-europe-practical-guide-to-mica ↩ ↩2

  48. https://www.innreg.com/blog/mica-regulation-guide ↩

  49. https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica ↩

  50. https://www.eiopa.europa.eu/eu-supervisory-authorities-warn-consumers-risks-and-limited-protection-certain-crypto-assets-and-2025-10-06_en ↩ ↩2

  51. https://www.linklaters.com/en/knowledge/publications/alerts-newsletters-and-guides/2025/october/06/asia-fintech-and-payments-regulatory-update—october-2025 ↩ ↩2 ↩3 ↩4

  52. https://www.sidley.com/en/insights/newsupdates/2025/08/hong-kong-implements-new-regulatory-framework-for-stablecoins ↩ ↩2

  53. https://cpl.thalesgroup.com/blog/data-security/hong-kong-stablecoins-bill-digital-asset-security ↩

  54. https://bravenewcoin.com/insights/taiwan-accelerates-crypto-aml-regulations-imposes-strict-registration-rules ↩ ↩2

  55. https://www.blockhead.co/2024/10/10/taiwans-financial-regulator-to-launch-digital-asset-custody-pilot-in-2025/ ↩

  56. https://crystalintelligence.com/country-guides/taiwans-crypto-market-regulations/ ↩ ↩2 ↩3 ↩4

  57. https://amlwatcher.com/news/taiwan-strengthens-anti-money-laundering-regulations-for-crypto-firms/ ↩ ↩2

  58. https://www.riotimesonline.com/10-key-cryptocurrency-developments-october-2025-2025/ ↩ ↩2 ↩3 ↩4

  59. https://crypto.com/en/research/research-roundup-oct-2025 ↩ ↩2

  60. https://crypto.com/us/research/research-roundup-oct-2025 ↩ ↩2

  61. https://www.binance.com/en/blog/research/1014478630700079473 ↩ ↩2 ↩3

  62. https://www.binance.com/ru/blog/research/1014478630700079473 ↩ ↩2

  63. https://docs.glassnode.com/further-information/changelog/2025 ↩ ↩2

  64. https://www.trmlabs.com/resources/reports-and-whitepapers ↩ ↩2

  65. https://www.antiriciclaggiocompliance.it/app/uploads/2025/03/The-2025-Crypto-Crime-Report-Chainalysis.pdf ↩ ↩2

  66. https://go.chainalysis.com/2025-Crypto-Crime-Report.html ↩ ↩2

  67. https://www.halborn.com/blog/post/explained-the-typus-finance-hack-october-2025 ↩ ↩2

  68. https://www.halborn.com/blog/post/explained-the-abracadabra-hack-october-2025 ↩ ↩2

  69. https://thehackernews.com/2025/10/threatsday-bulletin-15b-crypto-bust.html ↩ ↩2

  70. https://www.bitrue.com/blog/massive-token-unlocks-october-2025 ↩

  71. https://pintu.co.id/en/news/219110-3-token-unlocks-watch-this-week-21oct2025 ↩

  72. https://www.gate.com/crypto-calendar/token-unlock ↩

  73. https://www.barchart.com/futures/quotes/BT*0/futures-prices ↩

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

  75. https://thehill.com/opinion/finance/5548075-crypto-rug-pull-warning/ ↩

  76. https://www.reuters.com/sustainability/boards-policy-regulation/global-crypto-etfs-attract-record-595-billion-bitcoin-scales-new-highs-2025-10-07/ ↩

  77. https://bold.report/bitcoin/fund-flows/ ↩

  78. https://web3.bitget.com/en/academy/new-tokens-on-binance-october-2025-listings-to-watch ↩

  79. https://finance.yahoo.com/news/3-altcoins-watch-potential-binance-135711863.html ↩

  80. https://coingape.com/new-upcoming-binance-listing/ ↩

  81. https://www.coinspeaker.com/guides/upcoming-binance-listings/ ↩

  82. https://news.bitcoin.com/top-crypto-exchanges-mid-october-2025/ ↩

  83. https://www.jdsupra.com/legalnews/nfa-streamlines-process-for-virtual-2174798/ ↩

  84. https://www.oanda.com/us-en/trade-tap-blog/asset-classes/crypto/mid-month-crypto-update-october-2025/ ↩

  85. https://www.lightspark.com/knowledge/is-crypto-legal-in-taiwan ↩

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

  87. https://www.dlapiper.com/en/insights/publications/2025/10/implementing-mica-in-belgium ↩

  88. https://www.fsc.gov.tw/en/home.jsp?id=54\&parentpath=0%2C2\&mcustomize=multimessage_view.jsp\&dataserno=202508140001\&dtable=News ↩

  89. https://www.coindesk.com/opinion/2025/10/22/crypto-regulators-must-adapt-quickly-to-stay-globally-competitive ↩

  90. https://glassnode.com ↩

  91. https://polymarket.com/event/bitcoin-price-on-october-25 ↩

  92. https://polymarket.com/event/ethereum-price-on-october-25 ↩

  93. https://changelly.com/blog/ethereum-eth-price-predictions/ ↩

  94. https://finance.yahoo.com/news/crypto-news-today-october-25-111928411.html ↩

  95. https://www.youtube.com/watch?v=XPXTLy1WDMc ↩

  96. https://www.coinlore.com/coin/ethereum/historical-data ↩

  97. https://www.binance.com/en/square/post/10-25-2025-binance-market-update-crypto-market-trends-october-25-2025-31484639799634 ↩

  98. https://www.latestly.com/socially/technology/bitcoin-price-today-october-25-2025-btc-holds-steady-at-usd-111100-with-minor-fluctuations-7175314.html ↩

  99. https://www.youtube.com/watch?v=eG6TpT3OPME ↩

  100. https://www.slickcharts.com/currency ↩

  101. https://changelly.com/blog/bitcoin-price-prediction/ ↩

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

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

  104. https://www.coindesk.com/markets/2025/10/25/bitcoin-consolidates-as-breakout-awaits-fresh-catalyst ↩

  105. https://www.binance.com/en/price-prediction/ethereum ↩

  106. https://cryptopotato.com/crypto-price-analysis-october-25-eth-xrp-sol-doge-and-bnb/ ↩

  107. https://www.gate.com/crypto-wiki/article/what-do-derivatives-market-signals-reveal-about-future-crypto-price-movements ↩

  108. https://changelly.com/blog/ripple-xrp-price-prediction/ ↩

  109. https://www.gate.com/crypto-wiki/article/how-do-derivatives-market-signals-indicate-crypto-market-volatility-in-2025 ↩

  110. https://metamask.io/price/solana ↩

  111. https://www.blockscholes.com/research/bybit-x-block-scholes-crypto-derivatives-analytics-report-october-3-2025 ↩

  112. https://finance.yahoo.com/news/altcoin-season-index-near-25-153947953.html ↩

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

  114. https://thecryptobasic.com/2025/10/10/expert-sees-bnb-at-2000-predicts-xrp-price/ ↩

  115. https://markets.financialcontent.com/wral/article/breakingcrypto-2025-10-6-bitcoin-futures-open-interest-soars-to-record-highs-signifying-unprecedented-institutional-influx ↩

  116. https://www.coindesk.com/opinion/2025/10/11/tether-and-circle-s-dominance-is-being-put-to-the-test ↩

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