According to sources familiar with the matter, several European countries are working with Ukraine on a 12-point proposal aimed at ending the war with Russia along existing fronts. The implementation of the proposal will be overseen by a "peace commission" led by Trump, the sources said. According to the draft, after Russia and Ukraine agree to a ceasefire and commit to halting the advance of the front line, the plan includes the return of all forcibly displaced Ukrainian children, a prisoner exchange, security guarantees, war-damaged reconstruction funds, and a fast-track path to EU membership. Sanctions against Russia will be gradually lifted, but approximately $300 billion in frozen Russian Central Bank reserves will only be returned if Russia agrees to fund Ukraine's post-war reconstruction; if Russia acts again, these restrictions will be immediately re-imposed. Sources indicate that Russia and Ukraine will negotiate the governance of the occupied territories, but neither Europe nor Ukraine will legally recognize any of the occupied territory as Russian. Solana Announces End of Support for Saga Phone, Discontinued After Just Two Years on the Market Solana Mobile has announced the cessation of software and security updates for its blockchain-powered phone, Saga, marking the end of its lifecycle just two years after its release. Officials stated that compatibility with new systems or services is no longer guaranteed, exposing users to security risks and application failures. Saga, launched in May 2023, was intended to promote Web3 adoption and was developed in collaboration between California hardware company OSOM and Solana Mobile. Despite an initial price of $1,000, later reduced to $599, sales have fallen short of expectations, reaching only approximately 20,000 units. The phone, which gained popularity due to a Meme coin airdrop from its pre-installed wallet, is now fetching triple its original price on the secondary market. Solana Mobile has developed the next-generation encrypted phone "Solana Seeker", which was released on August 4.
Market
As of press time, according to Coingecko data:
BTC price is $108,415, up or down -2.0% in the past 24 hours;
ETH price is $3,863.94, up or down -2.9% in the past 24 hours;
BNB price is $1,054.39, up or down -4.3% in the past 24 hours;
-2.2%;
DOGE price is $0.1942, with a 24-hour increase or decrease of -2.9%;
XRP price is $2.42, with a 24-hour increase or decrease of -2.7%;
TRX price is $0.3221, with a 24-hour increase or decrease of -0.2%;
WLFI price is $0.1261, with a 24-hour change of -4.5%; HYPE price is $35.37, with a 24-hour change of -7.0%. ▌US Congresswoman Warren criticizes stablecoin bill, urges Treasury to guard against Trump-related risks Elizabeth Warren, a Democratic member of the U.S. Senate Banking Committee, criticized the U.S. Stablecoin Innovation and Guidance Act (GENIUS) signed by Trump in July this year, saying that its regulation is lax and there are loopholes that may threaten financial stability and consumer interests. In a letter to the Treasury Department, Warren demanded that the Treasury propose measures to address conflicts of interest between Trump and his family, combat illegal financial activities, and prevent stablecoin trading from harming consumers. She cited Paxos' recent $3 trillion PYUSD debacle, emphasizing the significant risks posed by operational errors and suggesting that Congress address the shortcomings of the GENIUS Act when developing broader crypto market regulations. US Senator Cynthia Lummis supports open banking rules and emphasizes the importance of digital assets. She wrote to the CFPB, urging the rules to remain in place. The rules allow consumers to own their financial data and securely share it with fintech companies, digital asset exchanges, and third-party services. Lummis warned that without clear rules, large banks could restrict access to digital asset platforms and other innovative financial services, thus ensuring that rules protect the space for innovation. Lummis also noted that hindering innovation would undermine US fintech leadership. Crypto Reporter: The Federal Reserve Proposes a "Lite Master Account" to Provide Direct Payment Channels for Fintech Companies and Stablecoin Issuers. According to crypto reporter Eleanor Terrett, Federal Reserve Governor Chris Waller announced at the Federal Reserve Bank's Payment Innovation Conference that the central bank is proposing a new type of restricted master account (called a "Lite Master Account") that would allow all legally compliant institutions to directly access the Federal Reserve's payment system without relying on partner banks. This "Lite Master Account" does not offer all the services of a full master account, such as the ability to borrow from the Federal Reserve, but any legally compliant entity can apply, and the eligibility rules will not change. This move will allow the Federal Reserve to give the green light to innovative banks, fintech companies, stablecoin issuers, and other payment companies. Eleanor Terrett stated that this move is significant for companies like Custodia Bank and Kraken, which have been trying to obtain a Fed master account for years, with Custodia even taking the Fed to court. Furthermore, this may expedite the admission of companies like Ripple and Anchorage that applied this year. The Kadena team announced the immediate cessation of operations, with the price of KDA plummeting over 60% in a single day. The Kadena team announced that due to unfavorable market conditions, it will immediately cease all business operations and active maintenance. The team expressed gratitude to all supporters and regretted that they could no longer promote this unique decentralized project. Kadena's native token, KDA, plummeted over 60% that day and is currently trading at approximately $0.11, having previously reached a high of $27 in 2021. The Kadena blockchain will continue to operate until miners and maintainers withdraw, and approximately 566 million KDA mining rewards will be distributed until 2139. Founded in 2019 by former SEC and JPMorgan Chase employees Stuart Popejoy and William Martino, who previously worked on the predecessor of JPMorgan Kinexys' blockchain, Kadena has raised approximately $15 million to date. Coinbase Acquires Echo, a Cryptocurrency Investment Platform, for $375 Million. According to market news, Coinbase has acquired Echo, a cryptocurrency investment platform, for approximately $375 million. (Wall Street Journal) Cryptocurrency: Bitcoin Faces First Test of Inflation Data After US Government Shutdown. Bitcoin and the broader financial market are preparing for the release of the first inflation data since the US government shutdown on October 1st, with analysts expecting a muted market reaction. Friday's Consumer Price Index (CPI) data, originally scheduled for release, will play a key role in influencing the Federal Reserve's interest rate decision next week. The report comes amid significant uncertainty for the US economy: the government shutdown has prevented officials and economists from accessing the latest labor market data. Tim Sun, senior researcher at HashKey Group, a digital asset financial services firm, stated, "We expect Bitcoin and the broader market to react modestly to this key macro event this week. Given slowing job growth and stabilizing demand, even a slight surprise in the CPI data is unlikely to materially shift market expectations." Derek Lim, head of research at cryptocurrency market maker Caladan, echoed Sun's view, noting that if US inflation data meets expectations with minimal deviations, "the most likely outcome is a muted market reaction." Galaxy Digital's Q3 Net Revenue Exceeds $500 Million, Selling Over 80,000 Bitcoins on Behalf of Clients. Nasdaq-listed Galaxy Digital released its third-quarter financial report, revealing net revenue of $505 million. As of September 30, 2025, the company's total equity was $3.2 billion, with $1.9 billion in cash and stablecoins. In addition, Galaxy Digital sold over 80,000 Bitcoins on behalf of clients in the third quarter, with digital asset trading volume increasing 140% compared to the second quarter of 2025, reaching a record high. Ethereum Foundation: Transfer of $654 Million in ETH Was a Routine Wallet Migration. The Ethereum Foundation transferred approximately 160,000 ETH (approximately $654 million) to a group of wallets previously used to sell ETH. Arkham, an on-chain analysis platform, pointed out that these wallets had only made large transfers to Kraken, SharpLink Gaming, and a multi-signature address that sold ETH. Hsiao-Wei Wang, co-executive director of the foundation, responded on social media that the transfer was part of an established wallet migration plan. Bloomberg: BlackRock is attracting major Bitcoin holders to the Wall Street system. According to Bloomberg, large Bitcoin holders are transferring their wealth from the blockchain to Wall Street's balance sheets. The new generation of ETFs provides a novel way for cryptocurrency tycoons to integrate their digital wealth into the regulated financial system—without selling it, simply through funds operated by large asset management companies such as BlackRock.
▌BlackRock deposited 2,854 BTC and 29,639 ETH to Coinbase Prime in the past 24 hours
According to Lookonchain monitoring, BlackRock deposited 2,854 BTC (worth $314 million) and 29,639 ETH (worth $115 million) to Coinbase Prime in the past 24 hours.
▌SharpLink spent $75 million to acquire 19,271 ETH at a price of $3,892
SharpLink acquired 19,271 ETH at an average price of $3,892, equivalent to approximately $75 million. As of October 19, 2025, its total holdings reached 859,853 ETH, valued at $3.5 billion. Coinbase Head of Investment Research David Duong stated that Zcash will undergo its halving in November 2025. With the halving, Zcash's issuance is expected to drop significantly, pushing the implied inflation rate from double digits in the early 2020s to single digits in the late 2020s. SpaceX Transfers Out $268 Million in BTC Again After Three Months According to on-chain analyst @ai_9684xtpa, SpaceX has transferred out $268 million in $BTC again after three months. Of these, 1,187 BTC have been transferred to the address bc1qq...4sduw, and 1,208 to the address bc1qj7...6kqef. Neither address has been moved or sold at this time. However, it's important to note that the receiving address for SpaceX's sudden transfer in July was already marked by Arkham as a Coinbase PrimeCustody address, suggesting this may simply be a wallet cleanup. Feynman Point Asset Management Launches $300 Million Cryptocurrency Hedge Fund According to Forbes, Joe Naggar, a former partner at Steven Tananbaum's GoldenTree Asset Management, is launching an independently managed hedge fund with $300 million under management, marking his team's official separation from Republic, a cryptocurrency-focused investment firm. Naggar and his team now operate independently as Feynman Point Asset Management, an investment firm focused on digital asset markets and cutting-edge technologies. Despite numerous transformations, the fund has maintained strong performance. According to Feynman Point Asset Management, backers, including the $600 million Swiss fund L1D and New York Blockchain Investment Group, have achieved an annualized net return of over 42% since its inception in 2022. Successful trades include purchasing Grayscale Bitcoin Trust (GBTC) at a 40% discount to the underlying asset, an early investment in the high-performing decentralized exchange Hyperliquid, and an equity investment in Ripple. Wyoming Launches Multi-Chain Test of FRNT Stablecoin on Seven Blockchains Including Ethereum. The US state of Wyoming has launched a large-scale blockchain test involving 700,000 Frontier (FRNT) stablecoins, deploying 100,000 tokens on each of seven major blockchains. Data provided by Marcov, a researcher at the blockchain data analysis platform DuneAnalytics, confirms that the deployment was completed on October 20th and covered blockchains including Ethereum, Solana, Avalanche C-Chain, Arbitrum, Optimism, Base, and Polygon. This deployment marks Wyoming's first major on-chain activity since launching the FRNT stablecoin on the mainnet in August of this year. Through this project, Wyoming became the first US state to issue a government-backed stablecoin. Tether mints 1 billion USDT. According to Whale Alert, the Tether Treasury minted 1,000,000,000 USDT on the Ethereum network at approximately 03:43 Beijing time today. USDC Treasury minted an additional 200 million USDC. According to Whale Alert, USDC Treasury minted a total of 200 million USDC in two batches in the past hour. Important Economic Developments Reuters Poll: Fed expected to cut interest rates twice more this year, but the path of interest rates in 2026 is highly uncertain. A Reuters poll of economists conducted from October 15 to 21 showed that the Federal Reserve is expected to cut interest rates by 25 basis points each next week and in December. However, economists remain deeply divided over the rate level by the end of next year. A month ago, economists expected only one rate cut this year. This new forecast follows a recent shift in expectations among Federal Reserve policymakers towards supporting further rate cuts. All but two of the 117 economists surveyed predicted the Federal Reserve would cut interest rates by another 25 basis points on October 29th, bringing the rate to a range of 3.75% to 4.00%. Two economists predicted a 25 basis point cut in October and a 50 basis point cut in December. The percentage of economists who expected another rate cut in December fell to 71%. Financial market traders' expectations are more resolute, with interest rate futures contracts fully pricing in two more rate cuts this year. Trump: Federal Reserve Chairman Powell is leaving soon. US President Trump: Federal Reserve Chairman Powell is leaving soon. There's a die-hard within the Fed, and interest rates are too high.
▌Zelensky: Ukraine is ready to end the Russia-Ukraine conflict
On the evening of the 21st local time, Ukrainian President Zelensky stated in his speech that Ukraine has completed preparations for the upcoming meeting with European partners and will sign a new agreement on defense capabilities this week. Zelensky said that this agreement will in fact become part of Ukraine's long-term security guarantees and provide lasting protection for the country and its people. He pointed out that Ukraine and its partner countries maintain a consistent position on diplomatic issues. Zelensky reiterated that Ukraine is ready to end the Russia-Ukraine conflict. He revealed that during his talks with US President Trump, the two sides agreed to try to negotiate based on the current front line. According to CME's "Fed Watch," there's a 98.9% chance the Fed will cut interest rates by 25 basis points in October, and a 1.1% chance they'll keep rates unchanged. The probability of a cumulative 50 basis point rate cut by the Fed in December is 98.7%, and the probability of a cumulative 75 basis point rate cut is 0.2%. What is Agent-Based AI? Agent-based AI refers to AI designed to act on its own behalf, with a degree of independence and decision-making capabilities. This type of AI doesn't simply process data or respond to commands; instead, it can set goals and make decisions to achieve them, often mimicking human behavior. This is like giving AI a sense of purpose and the ability to achieve it with minimal human intervention. This distinguishes it from traditional AI, which typically requires human input or predefined rules to function. Agent AI is self-directed, meaning it can make decisions in real time based on its environment and goals. Agent AI works by combining advanced machine learning techniques, decision-making algorithms, and a continuous feedback loop. Think of it as a robot that learns from experience and then uses this knowledge to influence its future actions. It typically works in the following manner: 1. Goal Setting: The agent AI determines a goal based on initial programming or continuous environmental input. It might be set to complete a specific task, such as optimizing a supply chain or increasing user engagement. 2. Decision Making: It then analyzes data and uses algorithms to determine the best course of action to achieve its goal. 3. Learning and Adaptation: Like all AI systems, agent AI learns from both successes and failures. It continuously adjusts its strategy and optimizes its decision-making process. The key here is that AI is able to set its own course of action based on real-time input, making it more autonomous than traditional AI systems.
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