According to Onchain Lens monitoring, the whale that previously re-established a long position in Ethereum (ETH) with 25x leverage has now turned losses into profits, with a floating profit of approximately US$8 million and a cumulative income of approximately US$5.8 million.

Binance issued a statement addressing the significant market volatility triggered by global macroeconomic events between 04:50 and 06:00 Beijing Time on October 11th. Officials stated that the overall crypto market plummeted due to concentrated selling by both institutional and retail investors. Binance has conducted a comprehensive review and confirmed that its core futures and spot matching engines and API trading remained normal throughout. Only some modules experienced a brief technical glitch after 05:18 Beijing Time on October 11th, resulting in the depegging of certain assets. Binance provided compensation of approximately $283 million to affected users within 24 hours of the incident, primarily covering collateral losses caused by the depegging of USDE, BNSOL, and WBETH. Additionally, Binance will compensate users who incurred losses due to internal transfers and delayed redemptions of Earn products. Regarding the extremely low prices of certain spot trading pairs, Binance explained that this was primarily due to historical limit orders being triggered by one-sided liquidity and UI display accuracy issues, and was not a system error. Officials have pledged to further optimize the interface display and liquidity mechanism, and will continue to publicly update compensation progress. Binance reminds users that the current cryptocurrency market is volatile and traders should maintain risk control and allocate positions reasonably.

OKX market data shows that BTC has broken through 115,000 USDT and is currently trading at 115,044.4 USDT, a 24-hour increase of 4.06%. (This newsletter is generated by AI)

In response to the recent market decline, Binance issued a statement stating: - The decoupling of some Binance yield products related to USDE, BNSOL, and WBETH occurred after the market crash. This decoupling impacted some users who held these assets as collateral and were forced to liquidate their positions. Binance has assumed responsibility and fully compensated them for their losses. Compensation has been paid in two tranches, totaling approximately $283 million. - During the period of significant market volatility, internal fund transfers and Earn product redemptions experienced brief delays, impacting timely margin replenishment. Binance will compensate users with verified losses. Furthermore, regarding the extreme price fluctuations of certain tokens on the Binance platform, Binance stated: - Historical limit orders (some dating back several years, even as early as 2019, such as IOTX and ATOM) remain on the platform. During a significant market sell-off and insufficient buy orders, sell orders continued to execute these long-term limit orders, causing a temporary and significant drop in token prices. Some trading pairs (such as IOTX/USDT) recently reduced the number of decimal places in the minimum price change, causing the user interface to display prices as zero. This is a display issue, not an actual zero price. Binance will optimize the UI display and correct the abnormal price display in the UI (without further announcement) to ensure a better trading experience. The API interface is not affected.

OKX market data shows that ETH has broken through 4100 USDT and is currently trading at 4103.23 USDT, a 24-hour increase of 7.43%. (This newsletter was generated by AI)

OKX market data shows that BTC has broken through 114,000 USDT and is currently trading at 114,012.6 USDT, a 24-hour increase of 1.94%. (This newsletter was generated with AI assistance)

The White House is close to announcing its nominee for the new chairman of the U.S. Commodity Futures Trading Commission (CFTC), with Mike Selig, chief legal counsel for the SEC's Crypto Task Force, currently the most likely successor. Sources indicate that Selig remains the administration's "preferred candidate," and the White House has begun simultaneously reviewing potential commissioners to rebuild the five-member commission currently led solely by Acting Chair Caroline Pham. This nomination is seen as a crucial milestone in the crypto regulatory landscape, coming at a critical time as Congress advances the Market Structure Act, which would expand the CFTC's oversight of the crypto market. Selig, currently a senior advisor to SEC Chairman Paul Atkins, previously served as an associate commissioner at the CFTC and spent ten years in the digital assets team at Perkins Coie and Willkie Farr & Gallagher. (Crypto in America)

BitMine Immersion Technologies, a Nasdaq-listed Ethereum treasury, has updated its cryptocurrency holdings, revealing that as of October 12, 2020, the company held 3,032,188 ETH and 192 BTC. The company also holds a stake in Eightco Holdings worth $135 million. (PRNewswire)

According to SoSoValue data, as of October 13, 2025, Eastern Time, global listed companies (excluding mining companies) had a net purchase of $31.63 million in Bitcoin last week. Strategy (formerly MicroStrategy) invested $27.2 million last week, increasing its holdings by 220 Bitcoins at a price of $123,561, bringing its total holdings to 640,250. Japanese listed company Metaplanet suspended Bitcoin purchases last week. Three other companies also made new Bitcoin purchases last week. Last week, British Bitcoin company B HODL invested $1.71 million in two Bitcoin purchases, buying six more Bitcoins at $123,998 and eight more at $124,234, bringing its total holdings to 136. On October 7, British web design and development firm The Smarter Web Company announced it invested $3.1 million to acquire 25 more Bitcoins at $124,018, bringing its total holdings to 2,550. Japanese energy business and Bitcoin and other digital asset strategy firm Remixpoint invested $350,000 on October 7 to acquire 2.66 more Bitcoins at $130,552, bringing its total holdings to 1,371.5. On October 9, Asian food brand DDC Enterprise announced it had raised $124 million in equity funding, primarily to advance its Bitcoin reserve strategy. As of press time, global listed companies (excluding mining companies) included in the statistics hold a total of 864,940 bitcoins, with a current market value of approximately US$98.91 billion, accounting for 4.34% of the total market value of Bitcoin.

House of Doge, the commercial arm of the Dogecoin Foundation, announced that it will be listed on the Nasdaq through a merger with Brag House Holdings, Inc. (NASDAQ: TBH), becoming the first institutional-focused Dogecoin ecosystem management platform. Both boards of directors have unanimously approved the merger agreement, and the transaction is expected to close in early 2026. House of Doge has secured over $50 million in investment capital and holds approximately 837 million Dogecoins, including 107 million in a Swiss Dogecoin ETP in partnership with 21 Shares and 730 million in escrow held in an official treasury. (Globenewswire)

Recommended reading for tonight: Barron Trump, the "Chosen One," made his first fortune after January 10th; the mysterious whale that caused the biggest short-selling event during the October 11th flash crash; and the perpetual contract ADL mechanism explained after waking up to find your positions were automatically liquidated on October 11th.

HIP-3 will indeed put some pressure on the PERP of small CEXs, but it will not be as devastating as Uniswap's impact on the listing business of third-tier exchanges.

Polymarket, A "Guess": How was the Nobel Peace Prize winner's information leaked? Golden Finance, The answer may be hiding in plain sight—the Nobel Prize website.

Chinese investors who lost money in a $6 billion Bitcoin Ponzi scheme face a long legal battle to reclaim their funds from 61,000 bitcoins seized by U.K. authorities, now worth over $7.4 billion. The case centres on Qian Zhimin, who pleaded guilty to money laundering, but tracing the coins back to individual victims remains highly complex.

The Web3 and NFT community is mourning the loss of Benoît Pagotto, co-founder of the digital fashion house RTFKT, who passed away suddenly at the age of 41, according to multiple industry colleagues. Pagotto, known for his visionary work blending gaming, fashion, and blockchain, helped shape one of the most influential digital culture brands of the last bull cycle.

The USDE depegging on Binance lasted approximately 45 minutes, with a maximum depegging amplitude of approximately −35% (instantaneously). During this period, total trading volume exceeded 780M USD. This incident is more akin to a liquidity flash crash than a structural risk in the protocol.

OpenAI is making Singapore a key hub for its Asia-Pacific expansion, aiming to grow its team and work with major clients like Singapore Airlines, Grab, and Sea Group. The company is offering customised AI solutions and investing in partnerships and infrastructure to support the rapidly growing ChatGPT user base.

Venezuelan opposition leader and pro-democracy icon María Corina Machado has been awarded the 2025 Nobel Peace Prize, recognized not only for her unyielding battle for freedom but also for her embrace of Bitcoin as a tool of human rights and resistance.

Coinbase is launching a new credit card with American Express and Cardless, offering up to 4% cashback in bitcoin. The Coinbase One Card, set to arrive in the US in autumn 2025, will be available only to Coinbase One members.

President Donald Trump is reportedly considering a full pardon for Binance founder and former CEO Changpeng “CZ” Zhao — a decision that could not only rewrite CZ’s legacy but also redefine Washington’s stance on crypto regulation.