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Strive Chief Risk Officer Jeff Walton said structured finance could drive Bitcoin to $1 million. In a post on X, Walton argued "BTC is the most flexible financial asset ever created. New combinations, financial tools, and use cases continue to emerge, and humanity and superintelligence (AI) have only tapped a tiny fraction of its potential so far." Separately, Strive is pursuing share buybacks of up to $500 million in SATA preferred stock and held 29,462 BTC as of Oct. 2.

A whale address that had been inactive for more than a year sold 37.725 million ENA worth $9.25 million on Bitget over 12 hours, according to Lookonchain. The address still holds 119.82 million ENA, worth about $29.6 million.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $61.73 million liquidated (75.17% longs) - ETH: $24.15 million liquidated (61.14% longs) - ZEC: $7.13 million liquidated (65.9% longs)

Bitcoin treasury company Strive plans to launch a buyback program for its floating-rate perpetual preferred stock, SATA, of up to $500 million, CryptoSlate reported. According to a filing with the U.S. SEC, the amount exceeds Strive’s $284.7 million cash balance as of Oct. 2, but the company is not required to execute the full $500 million, and it did not disclose specific funding methods or a timeline. Buying back and retiring the preferred shares could reduce future dividend obligations, while also leaving less cash available for additional BTC purchases. Strive held 29,462 BTC as of Oct. 2.

Binance founder Changpeng Zhao denied allegations of improper dealings involving World Liberty Financial, the Trump family’s DeFi project, The New York Times reported. Zhao pushed back on a Wall Street Journal report that Binance had asked Abu Dhabi investment firm MGX to use World Liberty Financial stablecoin USD1 to pay its investment. Zhao said MGX decided how to make the payment and that the only consideration was using a reputable stablecoin that would not disappear overnight. Zhao added there was nothing improper. On President Donald Trump’s pardon, Zhao said his lawyers had regularly updated him on the process, but described it as a "black box" to him. Zhao also said Forbes overstated his wealth at more than $100 billion, putting his actual net worth at around $10 billion to $30 billion.

Bitcoin layer-two platform Stacks said its second BTC staking period, Bond 2, is set to begin around Oct. 10. Bond 2 will be the first bond period in which most of the total capacity is allocated to liquid staking. StackingDAO will handle most of the staking volume, while Xverse and 21Shares will also participate. The BTC deposit deadline is Bitcoin block 970,450. Stacks said its BTC staking operates through two models: pooled liquid staking and direct custody. Under liquid staking, deposited BTC is converted into sBTC on a one-to-one basis on Stacks, and participants receive stBTC representing their staking position. The direct-custody option is available only to whitelisted participants, with a minimum commitment of 50 BTC.

Google Cloud will discontinue its Blockchain Node Engine and Blockchain RPC services in December, Digital Asset reported. After the shutdown, currently operating nodes and RPC endpoints, or blockchain node access addresses, will also be deleted. Blockchain Node Engine is a fully managed service Google Cloud has provided to help companies and developers run blockchain nodes without building and managing servers directly. It has supported JSON-RPC and WebSocket endpoints used to query blockchain data and send transactions.

Binance-backed prediction market platform Predict.fun posted a teaser suggesting a token launch. On X, the platform shared an image of a coin bearing its logo along with the word "Soon," but did not disclose whether a token launch will take place or provide any timeline.

Six electronic financial and security incidents involving virtual asset exchanges were reported to South Korea’s Financial Supervisory Service over the past five years, Newsis reported. Data submitted by the Financial Supervisory Service to Rep. Kim Hyeong-yeon of the National Policy Committee from the Rebuilding Korea Party showed that from 2022 through August this year, five of the reported incidents involving virtual asset exchanges stemmed from internal causes, including trading delays and failed orders due to surging traffic, system operation errors, and incorrect event reward inputs, while one case involved an external hack. Including those cases, the total number of electronic financial and security incidents came to 2,189.

The Solana Foundation has launched Solana DvP, an open-source program designed to let banks settle trades on the Solana network with the level of certainty expected in traditional financial markets, Decrypt reported. Solana DvP is an open-source escrow program that provides standardized APIs for financial institutions.

A newly created address withdrew 7,166 ZEC worth $9.67 million from Coinbase over the past 12 hours, according to Lookonchain. Exchange outflows are typically interpreted as a sign of holding intent.

Ansem, a well-known cryptocurrency trader, said on X there is limited value in analyzing the current crypto cycle through a one-to-one comparison with 2020, 2023 or 2024. Ansem added the closest parallel is the 2020-2021 DeFi expansion, when an entirely new sector drew billions of dollars on-chain. This time, stablecoins, especially tokenized stocks, are opening another new market while attracting retail investors, institutions and developers at the same time. New sectors create new capital flows, products and heavy speculation, Ansem said, adding this is the framework used to analyze the current cycle.

LG CNS has launched KITL, a blockchain infrastructure platform, the company said on Oct. 6. According to TechM, KITL provides the infrastructure needed for banks, securities firms, card companies and payment providers to build digital-asset services tied to stablecoins, tokenized securities and real-world assets. LG CNS also said it has built a global partner ecosystem around KITL and signed MOUs with Circle, Securitize, the Canton Foundation, Chainalysis and Chainlink across business areas needed for digital-asset operations.

U.S. Rep. Don Davis, a Democrat, has introduced a bill that would bar federal election candidates from trading prediction market contracts tied to their own race, CNBC reported. Violations would carry a fine of $10,000 or three times the net profit from the trade, whichever is greater. The bill was introduced after Davis’ election rival, Republican Laurie Buckhout, traded contracts tied to whether Buckhout would win and was later fined about $2,600 by Kalshi and suspended from the platform for three years.

Crypto trader Ansem voiced a bullish view on BTC, saying the gap between Bitcoin and gold is likely to keep narrowing. In a post on X, Ansem said BTC, when priced in gold, failed to surpass its previous peak in the last cycle. Ansem added that if the argument that BTC is the best digital hard money is correct, the gap between BTC and gold should continue to shrink. Ansem also said the gold market is worth $30 trillion, compared with $1.7 trillion for BTC, and argued that as the gap narrows, governments will have a stronger rationale to hold BTC like gold.

Veteran trader Peter Brandt shared an XRP daily chart alongside an image of a coffee cup, suggesting a possible cup-and-handle formation, a bullish chart pattern. The key resistance level Brandt highlighted was $1.6572, about 8.8% above the $1.5230 price shown when the chart was shared. A cup-and-handle pattern is typically viewed as bullish if price breaks above the upper resistance line. Brandt did not provide a specific upside target.

South Korea’s Financial Supervisory Service will launch financial education aimed at strengthening asset-management skills among job seekers and preventing losses from virtual-asset investment scams and fraudulent high-paying overseas job offers, The Herald Business reported. The agency plans to brief prospective graduates and job seekers on scam cases involving promises of guaranteed high returns or impersonation of employees at virtual-asset exchanges and foundations, as well as ways to avoid such schemes.

An anonymous whale deposited 654,288 UNI worth $5.96 million into Coinbase two hours ago, according to ai_9684xtpa. Such transfers to exchanges are typically interpreted as intended for selling.

Bitcoin posted a cumulative return of about 225% over the past three years, but that flips to an 11% loss if investors missed its 15 best trading days, Grayscale found. Zach Pandl, head of research at Grayscale, said based on Bloomberg data that BTC returns fall to 95% if the top five trading days are excluded and to 27% if the top 10 are removed. Over the same period, the Nasdaq 100 rose 109% and still delivered a 21% return even with its top 15 trading days excluded. Pandl added that because BTC’s gains were concentrated in a small number of trading days, investors waiting for volatility to ease or for a clearer market direction could miss sharp upside moves. For those seeking long-term returns, Pandl said consistently maintaining BTC exposure may be better than trying to time market entry.

CoinMarketCap’s Altcoin Season Index stood at 63. The metric is calculated by comparing the price performance of Bitcoin and the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped coins. A reading is considered altcoin season when 75% of the top 100 coins have outperformed Bitcoin over the past 90 days, while the opposite is considered Bitcoin season. A higher reading closer to 100 indicates stronger altcoin-season conditions.

Meme coin trading platform GMGN transferred 11,999.5 ETH to a Coinbase staking address, according to ai_9684xtpa. GMGN sold ETH worth $16.38 million a week earlier.

Better Markets, a nonprofit focused on financial markets, criticized the U.S. Commodity Futures Trading Commission’s push to broaden its jurisdiction over cryptocurrencies. Benjamin Schiffrin, Better Markets’ director of securities policy, argued the CFTC and the U.S. SEC are competing to win favor with the crypto industry, while the CFTC is seeking to expand its authority by treating some crypto transactions like futures contracts even though cryptocurrencies differ from futures. Schiffrin also said the CFTC does not have the same investor protection mandate as the SEC, and the legal authority it is now citing was originally created to prevent fraud in precious metals markets. He added that it is inconsistent to say such efforts are meant to prevent another FTX-style collapse while also considering allowing affiliated relationships among market participants that contributed to FTX’s failure.

The spot CVD chart is an order-book analysis chart for the BTC/USDT spot trading pair. The upper panel shows the volume heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance levels. - The cumulative volume delta indicator in the lower panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line is based on $100 to $1,000 orders, while the brown line reflects large orders of $1 million to $10 million, among others.

CoinMarketCap’s in-house crypto fear and greed index came in at 67, down two points from yesterday, with the market remaining in greed territory. The index signals extreme fear when it is closer to zero and extreme optimism when it is closer to 100. CoinMarketCap calculates the index based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators such as the put/call ratio, the stablecoin supply ratio, and CoinMarketCap’s own search data.

MoonPay, a global crypto payments and stablecoin infrastructure company, is partnering with KB Kookmin Card to develop a model for foreign visitors to make payments at South Korean merchants and for cross-border stablecoin payments, Digital Asset reported. The two companies first plan to develop a service that would allow foreign users to pay at South Korean merchants using stablecoins and other digital assets.