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Cardano founder Charles Hoskinson said Cardano’s strength over Bitcoin lies in its ability to keep evolving the network. In an interview with The Block, Hoskinson added that if a quantum-computing catastrophe occurs, Satoshi Nakamoto’s long-dormant Bitcoin holdings could be exposed and undermine Bitcoin’s core value. If Bitcoin governance cannot respond, he said, it may be difficult for Bitcoin to remain the world’s top cryptocurrency.

The Crypto Council for Innovation, The Digital Chamber and the Blockchain Association urged the U.S. Senate to prioritize floor consideration of the CLARITY Act, according to Cointelegraph. In a letter to Senate Majority Leader John Thune and Democratic Leader Chuck Schumer, the groups said they recognized that constructive bipartisan negotiations on the bill were continuing and hoped those discussions would continue.

With the Fraternal Order of Police, the largest U.S. police union, expressing support for the latest CLARITY bill, Coinbase CEO Brian Armstrong said law enforcement had acknowledged the legislation would strengthen its enforcement tools.

The U.S. Office of the Comptroller of the Currency denied payments company WISE’s application to establish a national trust bank, and the company said it plans to submit a new application under the GENIUS Act’s stablecoin framework. The OCC rejected WISE’s application over shortcomings in its anti-money laundering standards.

KULR Technology, a New York Stock Exchange-listed company known as a Bitcoin accumulation firm (DAT), said it sold 333 BTC to fully repay a $20 million credit facility from Coinbase. The company now holds a total of 760 BTC.

KillaXBT, a cryptocurrency analyst known for accurately predicting Bitcoin’s 2025 peak, said Bitcoin’s cycle durations are getting shorter. In a post on X, KillaXBT said the last cycle took just 476 days from the bottom to a new all-time high, a much faster pace than in the previous two cycles, and added BTC could reach a new high before the next halving.

Coinbase Chief Policy Officer Faryar Shirzad said policymakers should not let the pursuit of perfection get in the way of a good outcome and that now is the time to pass the CLARITY Act, Cointelegraph reported.

The Fraternal Order of Police, the largest police union in the U.S., has expressed support for the latest CLARITY bill. The group said Section 604 of the Blockchain Regulatory Certainty Act, or BRCA, amendment incorporated into the CLARITY Act had addressed its previous concerns over law enforcement authority and would not hinder officers' investigations into crypto-related illegal activity.

Coinbase Institutional and Glassnode released a joint report that maintained a neutral outlook for the cryptocurrency market in the third quarter of this year. The report said the crypto market capitalization excluding stablecoins fell about 12% in the second quarter, while stablecoin supply reached a record high. It added that on-chain data suggests Bitcoin may be shifting from a correction phase into an accumulation phase. Signs of that transition include compressed valuations, active supply nearing multiyear lows, and the share of supply in profit falling below its historical lower bound. The report cautioned, however, that the macro liquidity backdrop remains tight. Under Kevin Warsh, the U.S. Federal Reserve has maintained a hawkish stance, while geopolitical risks, selling pressure from companies holding cryptocurrencies, and net outflows from spot BTC and ETH ETFs in the first half, with the pace of outflows now slowing, are also weighing on the market. Overall caution is warranted, according to the report.

White House crypto council Executive Director Patrick Witt pushed back after U.S. Democrats argued the ethics provisions in the Republican-backed CLARITY Act were insufficient. In an interview with CoinDesk, Witt said the ethics clause was exactly what Democrats had asked for, President Donald Trump had agreed to accept limits on his actions, and no previous president had done so. Witt added Democrats were now seeking even stricter constraints on Trump and said, "You can't hit two home runs with one swing."

World Foundation has raised $52.5 million through a token sale, The Block reported. The sale was led by Pantera Capital, with participation from Bain Capital Crypto, Ateko Holdings, Celini Capital and Susquehanna Crypto. All tokens are subject to a one-year lockup, and the funds will be used to expand World ID technology for businesses, consumers and AI agents.

LMAX Group, a cryptocurrency trading platform for institutional investors, is pursuing a sale and an initial public offering, with Morgan Stanley and others selected as underwriters. The company could be valued at as much as $5 billion, according to CoinDesk.

UAE-based digital asset manager Kinetic Group said it plans to buy up to 10% of FLUID’s supply on the open market, worth about $11.69 million at current prices. According to a proposal posted on the Fluid governance forum, Fluid and AGI3, a platform under Kinetic Group, plan to form a strategic partnership to jointly develop the DeFi market for institutional investors. The main targets include traditional finance institutions such as sovereign wealth funds, banks, family offices, and asset managers. Alongside Kinetic Group’s investment, the Fluid Foundation plans to allocate 5% of FLUID’s total supply to support institutional custody adoption. According to CoinMarketCap, FLUID was trading at $1.16, up 9.5%, at the time of writing.

Major exchanges have seen $114 million worth of futures liquidated in the past hour. In the past 24 hours, $333 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $64,000. BTC is trading at $63,984.61 on the Binance USDT market.

Bitcoin would likely rise sharply if a quantum-resistant roadmap is announced, according to Charles Edwards, founder of crypto investment firm Capriole Investments. In an interview with Cointelegraph, Edwards said Bitcoin developers need to set aside pride and present a clear plan to protect the blockchain from quantum computers. If the core team makes that decision and unveils a roadmap, BTC would likely climb quickly, he said. Edwards added that an immediate Bitcoin gain following the release of a quantum-resistant roadmap would likely be in the double digits, or more than 10%. He also said Bitcoin is currently trading around 40% below its fair value based on the energy value consumed in mining, suggesting the quantum-computing threat is creating about a 30% discount.

Cardano (ADA) has emerged as one of the fastest-growing blockchains in the real-world asset tokenization market, The Crypto Basic reported. According to data released by the RWA Foundation, citing Token Terminal, the value of RWA assets on the Cardano network rose 23.1% over the past 30 days to $55.3 million. While its market size remained smaller than rival networks, its growth rate was faster. Avalanche posted 22.6% growth, Sonic 22.1%, Fraxtal 18.4%, and BNB Chain 16.5%. Only four networks recorded a higher growth rate than Cardano: Robinhood Chain, Tempo, Monad, and Plume Network.

The three major U.S. stock indices opened mixed today. - S&P 500: +0.07% - Nasdaq: -0.12% - Dow Jones: +0.17%

Thailand’s SEC has filed a criminal complaint against Bitkub, one of the country’s largest cryptocurrency exchanges, over allegations of providing false information, Cointelegraph reported. Thailand’s SEC said 16 cryptocurrencies were stolen from Bitkub in a hack in May 2021, but the exchange did not accurately reflect the incident in its capital report.

Memecoin.Fun, a meme coin launchpad built on Robinhood Chain, said it recently raised $3.5 million in a funding round led by Becker Ventures, with participation from BitValue Capital, Mason Labs and Negentropy Capital. The company plans to use the proceeds to expand infrastructure, develop cross-chain bridge features and build a multichain platform.

Major U.S. crypto industry groups including the Digital Chamber, the Crypto Council, and the Blockchain Association urged Senate leadership to bring the Clarity Act to the floor, Crypto in America host Eleanor Terrett said. The bill has not yet secured enough support in the Senate to pass.

Bitcoin's Sharpe ratio has fallen to -23, a level similar to points when past bear markets formed bottoms, cryptocurrency trader Ali Martinez said on X. Martinez explained that the Sharpe ratio measures returns relative to volatility, and turns negative when investors are taking heavy losses. He said a reading of -23 may indicate not that the downtrend will continue, but that selling pressure has been largely exhausted. That, in turn, could imply relatively stronger expected returns for long-term investors entering at current levels. He added that in past bear market bottoms in 2015, 2019 and 2022, the Sharpe ratio fell to similar levels before the market moved through a final selling phase and reversed trend.

Decentralized perpetual futures exchange Hyperliquid burned 130,870 HYPE worth about $7.65 million after buybacks over the past seven days, according to an analysis by Onchain Lens. The average buyback price was $58.45 per HYPE. The burn permanently removed 130,870 HYPE from circulation. CoinMarketCap data showed HYPE was trading at $58.4, down 1.21%, at the time of writing.

XRP spot flows rose 182% over a short period, sharply increasing the amount of XRP moving through exchanges, U.Today reported, citing CoinGlass data. The outlet added this did not necessarily signal aggressive accumulation, as the metric pointed to a sharp increase in trading activity by both buyers and sellers, while net spot flows remained mixed. U.Today also said XRP was still trading below its 50-day, 100-day and 200-day moving averages, indicating it had yet to break out of a longer-term bearish trend. Although a modest upward trendline has recently formed, buying pressure has not yet shown enough strength to produce a decisive breakout. The outlet added selling pressure was likely to persist on each rebound attempt unless the price reclaimed the 50-day moving average in the $1.11-$1.12 range.

The European Union has barred dealings with 14 cryptocurrency-related service platforms based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus, including the cross-border payments network A7, as it steps up efforts to block Russia’s sanctions evasion, CoinDesk reported. The names of the platforms were not disclosed. A7 Network, the issuer of the A7A5 stablecoin, has processed about $120 billion in transactions so far and was designed to support Russia’s evasion of international sanctions, according to the report.