The latest in digital assets, markets and regulation.
Goldman Sachs notes investors prioritize profitable overseas expansion for Chinese firms, citing fears of price wars and geopolitical risks despite projected market share growth to 31% by 2035.
CryptoQuant data shows Bitcoin exchange reserves fell 1.7% since late September while whale holdings remained above 3 million BTC, suggesting a potential local bottom despite macro headwinds.
Bank of America’s third-quarter profit fell 17% to $6.93 billion after a $1.2 billion U.S. Treasury penalty for failing to report suspicious transactions.
Morgan Stanley beat third-quarter estimates as equities trading revenue surged 41% to $5.8 billion, exceeding forecasts by $909 million despite misses in fixed income and investment banking.
Bitcoin fell below $83,000 after U.S. inflation data showed a 0.6% monthly rise in September, exceeding expectations. The drop reflects ongoing sensitivity to Federal Reserve policy, with markets pricing a 47% chance of further rate hikes before the October 28 announcement.
Reports indicate the Bangko Sentral ng Pilipinas is investigating Coins.ph for alleged links to restricted offshore gambling operators, threatening its license. No final ruling exists, but prior actions against linked e-wallet DCPay highlight growing regulatory scrutiny on crypto-gambling intersections.
Coins.ph faces BSP scrutiny over alleged ties to offshore gambling operators, impacting its operational license. With 18 million users, the exchange sees zero trading volume amid peso transfer restrictions and executive departures.
Sahil Arora launched a Floyd Mayweather meme coin on Fomo, peaking at $1 million before crashing 96%. Arora claims orchestration and seven-figure profits, but Bubblemaps data suggests significantly lower returns. This revival follows past accusations of scams and rug pulls against Arora.
Ledger suspended hardware wallet sales across seven Asian markets amid an investigation into implanted devices stealing recovery phrases. While over $86 million in thefts were traced, Ledger has not verified the total. MediaMarkt Saturn also paused German sales following a separate report.
Turkish authorities detained Hex founder Richard Heart in Istanbul under an Interpol Red Notice issued by Finland for aggravated tax fraud. The arrest follows the dismissal of a separate U.S. SEC lawsuit against Heart, which had alleged over $1 billion in unregistered crypto offerings.
Bitcoin dropped 1.5% to $82,142 after U.S. inflation hit 3.7%, doubling odds of an October Fed rate hike. Rising Treasury yields pressured crypto markets, triggering over $281 million in liquidations.
Ethereum researcher Justin Drake advocates for "bunker mode" to protect assets from potential AI-driven attacks on elliptic curve cryptography. Critics argue that migrating funds offers limited protection if extended public keys are exposed, warning that rushed actions increase scam risks and operational errors.