Headline
▌Charles Schwab plans to launch spot Bitcoin and cryptocurrency trading services in 2026
According to Bloomberg, US financial giant Charles Schwab plans to launch spot Bitcoin and cryptocurrency trading services in 2026.
▌Market News: An alliance of crypto lawyers is preparing to file a lawsuit against Binance
According to Ordinal News, a coalition of cryptocurrency lawyers is preparing to file a lawsuit against Binance, accusing it of insider trading and the recent flash crash that caused billions of dollars in positions to evaporate.
Market
As of press time, according to Coingecko data:
BTC price is $108,018, up or down -2.6% in the past 24 hours;
ETH price is $3,886.97, up or down -2.5% in the past 24 hours;
BNB price is $1,145.29, up or down -1.6% in the past 24 hours;
-5.2%;
DOGE price is $0.1885, with a 24-hour increase or decrease of -4.1%;
XRP price is $2.32, with a 24-hour increase or decrease of -3.8%;
TRX price is $0.3153, with a 24-hour increase or decrease of -1.3%;
The price of WLFI is $0.1352, with a 24-hour increase or decrease of -2.7%; the price of HYPE is $36.68, with a 24-hour increase or decrease of -2.0%.
Policy
▌Federal Reserve Bank Barr calls for stronger regulation of stablecoins to prevent systemic risks
Federal Reserve Board Governor Barr said that more specific regulatory measures need to be formulated to ensure the safe operation of stablecoins. "For stablecoins to realize their full potential, further safeguards are needed to protect families, businesses, and the entire financial system," Barr said Thursday. Barr, a former Vice Chairman for Supervision at the Federal Reserve, welcomed the Genius Act, passed earlier this year. The bill establishes a regulatory framework for stablecoins, including the types of assets required to support their issuance. However, he noted that regulators still need to close legal loopholes to strengthen market confidence in stablecoins and prevent businesses and consumers from being impacted by bank runs or other destabilizing events. The Genius Act stipulates that stablecoins must be backed by highly liquid assets, such as U.S. Treasuries. U.S. SEC Commissioner Hester Peirce: Tokenization is a priority, calling for stronger financial privacy. U.S. SEC Commissioner Hester Peirce stated that tokenization is a current priority for the agency, and that the agency is currently researching token distribution, trading definitions, and crypto asset custody, and is working with Congress to develop regulatory regulations. She emphasized the importance of financial privacy and said cryptocurrencies offer an opportunity to re-examine the Bank Secrecy Act and AML/KYC regulations. Meanwhile, due to the US government shutdown, SEC work, such as the approval of crypto ETFs, has virtually stalled. Florida Proposes Allowing State Treasurers and Pension Boards to Invest in Bitcoin and Digital Asset ETFs The Florida House of Representatives introduced HB 183, which would allow state treasurers and pension boards to invest up to 10% of public funds in Bitcoin, tokenized securities, NFTs, and crypto ETFs. The bill positions Bitcoin as a potential store of value and inflation hedge for state funds and allows residents to pay part of their taxes using digital assets, with payments converted into US dollars and deposited into the state treasury. If passed, the bill would require Senate approval and the governor's signature, and would take effect on July 1, 2026. This move continues the trend of states promoting Bitcoin reserve programs since 2025. The UK has proposed a compensation scheme for victims of a 61,000 Bitcoin scam, an arrangement that could allow the UK Treasury to retain approximately £5 billion in Bitcoin assets. This massive cryptocurrency asset is at the center of a dispute in London's High Court between the UK government and thousands of Chinese investors who were defrauded. Investors argue that the UK government should not profit from the scam. UK Attorney General Stephen Parkinson has informed victims of the possibility of such a compensation scheme, but details have not yet been released. In 2018, police seized 61,000 Bitcoins from a mansion in Hampstead, North London. The value of these crypto assets has skyrocketed over the past seven years and is currently valued at approximately £5 billion. The UK government is currently seeking to retain the majority of this asset. Qian Zhimin, 47, also known as Zhang Yadi, and her Malaysian assistant, Seng Hok Ling, 47, pleaded guilty to money laundering charges at Southwark Crown Court in London last month. Sentencing is expected next month. The court also heard that British authorities recently gained access to additional crypto assets worth approximately £67 million. Martin Evans KC, a lawyer representing the UK Crown Prosecution Service (CPS), stated in a written submission that Zhang Yadi surrendered a ledger and access codes and passwords for two cryptocurrency wallets last month. Bank of Ghana: Plans to Complete Cryptocurrency and Virtual Asset Regulation Legislation by Year-End Bank of Ghana Governor Johnson Asiama stated that the country expects to pass a bill to regulate cryptocurrencies and virtual assets by the end of December. The regulatory framework has been drafted and the bill is currently before Parliament. Asiama, while attending an International Monetary Fund meeting in Washington, stated that Ghana must accelerate the regulation and monitoring of crypto transactions to ensure a secure and transparent financial system. Blockchain Applications: CME Group plans to launch financial contracts tied to sports events and economic indicators by the end of the year. According to people familiar with the matter, this move will put the Chicago-based CME in direct competition with prediction market platforms like Kalshi and Polymarket. Kalshi and Polymarket have rapidly entered the mainstream financial market in recent years and have received advisory support from Donald Trump Jr., the son of President Trump. Cantor Fitzgerald is pushing Tether to raise approximately $15 billion from investors. American financial services firm Cantor Fitzgerald is pushing Tether Holdings to raise approximately $15 billion from investors, with a valuation of up to $500 billion, comparable to OpenAI. A year ago, Cantor Fitzgerald purchased convertible bonds for over $600 million, acquiring a 5% stake in Tether. If Tether meets its fundraising target, Cantor's stake could be worth $25 billion. Coinbase Launches Stablecoin Payment Platform "Coinbase Business" On October 16, Coinbase, a publicly listed US cryptocurrency exchange, announced the launch of "Coinbase Business," a stablecoin payment platform that allows businesses to send and receive USDC stablecoins. YZi Labs Invests in Temple Digital Group YZi Labs announced an investment in Temple Digital Group, which launched the first native trading platform on the Canton Network. Temple is positioned as a unified trading technology stack for privacy and compliance, integrating tokenized assets, liquidity, and compliance, and providing a central limit order book, automated routing, and non-custodial settlement. The funds will be used to expand the engineering and compliance teams and advance research on asset issuance management, perpetual contracts, cross-network routing, and cryptographic interoperability between Canton and other chains. Canton, with the participation of multiple institutions, targets regulated financial markets and supports privacy, compliance, and scalability. Cryptocurrency: The U.S. government currently holds 316,760 BTC. According to CryptoQuant, the U.S. government currently holds 316,760 BTC (approximately $35.9 billion), making it one of the largest known holders of Bitcoin. Financial Times: Trump Family Profits Over $1 Billion in One Year from Cryptocurrency Business According to an investigative report by the Financial Times, US President Donald Trump and his family earned over $1 billion in pre-tax profits from their cryptocurrency businesses over the past year. The investigation revealed that the Trump family's cryptocurrency empire encompasses multiple projects, including digital trading cards, memecoins, stablecoins, tokens, and decentralized finance platforms. TRUMP and MELANIA memecoins generated approximately $427 million in sales and transaction fees. World Liberty Financial Platform generated $550 million in revenue from the sale of WLFI governance tokens, and USD1 stablecoin sales reached $2.71 billion.
▌Tom Lee: The Bubble of Digital Asset Treasury Companies May Have Burst
In Fortune magazine's latest "Crypto Playbook" video, BitMine Chairman Tom Lee stated that the bubble of digital asset treasury companies may have burst. Although Ethereum has sometimes struggled in recent years amid the proliferation of other blockchains and its own technical challenges, Tom Lee believes that Ethereum remains "Wall Street's blockchain," especially as financial firms explore the application of stablecoins and various tokenized assets (many of which are native to Ethereum). Tom Lee pointed out that as more and more digital asset treasury companies enter the public markets, the stock prices of many companies are already trading below their net asset value, that is, the value of their underlying cryptocurrency holdings.
▌BlackRock will launch a money market fund in compliance with the "Genius Act"
According to Synoptic, BlackRock will launch a money market fund in compliance with the "Genius Act" to simplify the reserve asset custody process for stablecoin issuers.
▌SharpLink: US$76.5 million raised to increase ETH holdings
SharpLink has successfully raised US$76.5 million by issuing shares at US$17 per share (a premium of 12% over the market price); in addition, it is expected to raise approximately US$79 million more through an innovative 90-day premium purchase contract ($17.5 per share, a premium of 19% over the market price). The $76.5 million raised was used to increase ETH holdings, continuing SBET's growth momentum and ETH accumulation strategy. Ark Invest Applies to Launch Four Quarterly Bitcoin ETF Products According to Bitcoin Magazine, Cathie Wood's Ark Invest has submitted a preliminary prospectus to the U.S. Securities and Exchange Commission (SEC), planning to launch four quarterly Bitcoin ETF products, named ARK DIET Q1, Q2, Q3, and Q4 Bitcoin 1 ETF. These products will be managed by ARK ETF Trust, and trading symbols have not yet been determined. The prospectus is still in its preliminary stages and requires SEC approval before formal issuance.
▌CME Report: Crypto Derivatives Trading Volume Exceeds $901 Billion in the Third Quarter of 2025
According to market news: CME Group reported that crypto derivatives activity set a record in the third quarter of 2025, with trading volume exceeding $901 billion.
▌The total amount of ETH held by digital asset treasury companies and exchange-traded funds (ETFs) has increased to 12.5 million, accounting for 10.31% of the total supply of Ethereum
According to unfolded., the total amount of Ethereum (ETH) held by digital asset treasury companies and exchange-traded funds (ETFs) has increased to 12.5 million, accounting for 10.31% of the total supply of Ethereum. a16z Invests US$50 Million in Jito, a Solana Staking Protocol. The crypto arm of venture capital firm Andreessen Horowitz has invested US$50 million in Jito, a Solana staking protocol. International Commercial Settlement to Further Acquire Up to HK$200 Million in Bitcoin. International Commercial Settlement (00147) announced that as part of the group's investment in cryptocurrencies and related business development plan, on October 16, 2025, the board of directors resolved to recommend further acquisitions of Bitcoin within two months from the date of this announcement, at a time and price deemed appropriate by the directors. The total consideration payable for the potential acquisitions shall not exceed HK$200 million, an amount determined with reference to the group's financial condition. Binance's PAXGUSDT perpetual contract saw a brief surge of approximately 16%. Binance's PAXGUSDT perpetual contract saw a brief surge of approximately 16%, possibly due to large orders or the liquidation of positions by whales. As of now, PAXG's trading price on Binance remains approximately 1.5% higher than the global spot price of gold. Important Economic Developments Federal Reserve Governor Waller advocates for gradual rate cuts. Federal Reserve Governor Waller said officials could gradually ease monetary policy by cutting rates by 25 basis points at a time to support the weak labor market, while Milan continued to advocate for a larger rate cut. Waller said Thursday, "You don't want to make a mistake, and the way to avoid it is to proceed cautiously—cut 25 basis points first, observe the results, and then decide what to do next." Milan reiterated the same day that a larger 50 basis point rate cut is necessary, saying that trade tensions have increased downside risks to the economy and therefore require more rapid monetary policy easing. "I think we're likely to see three 25 basis point rate cuts this year," Milan said. Markets are increasing bets on three Fed rate cuts this year. According to CME's "Fed Watch," the probability of a 25 basis point Fed rate cut in October is 96.3%, and the probability of a 50 basis point cut is 3.7%. The probability of a cumulative 25 basis point rate cut by the Fed in December is 0%, the probability of a cumulative 50 basis point cut is 85%, the probability of a cumulative 75 basis point cut is 14.6% (the probability was 0% yesterday), and the probability of a cumulative 100 basis point cut is 0.4%. Is solo Bitcoin mining feasible? Solo mining involves a single miner independently verifying Bitcoin transactions and adding new blocks to the blockchain without collaborating with others in a mining pool. This process requires significant computing power and resources as miners compete with a global network of participants to find a hash that meets the Bitcoin network's current difficulty target. It involves repeatedly hashing the block header with different nonce values until a valid hash is found. The first miner to find this hash earns the right to add the new block to the blockchain and receives a reward in the form of newly minted Bitcoin and transaction fees. Solo mining has the potential to yield lucrative rewards. However, compared to collective mining, the chances of success are relatively low, especially given the fierce competition and increasing difficulty of the mining process. Solo mining is like playing the lottery with a powerful computer, but instead of picking numbers, you rapidly try different combinations to find a winning ticket. The rewards can be enormous, but the odds of success are low, especially with the rise of industrial-scale mining farms dominating the network. Factors affecting the viability of solo Bitcoin mining in 2025 include increasing mining difficulty, the high cost and energy consumption of ASIC hardware, competition from industrial mining farms, and the unpredictable nature of independently finding blocks. Alternatives to solo Bitcoin mining include pooled mining (which offers more stable returns by sharing block rewards) and cloud mining (which eliminates hardware ownership but carries risks such as contract volatility and potential scams). Given the challenges of solo mining, individuals may want to consider alternatives that offer more stable returns and lower risks.
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