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Crypto news

  1. 1

    Bitcoin gives up early gains as U.S. spot bitcoin ETFs post heavy outflows

    Bitcoin reversed early gains as investors pulled money from U.S.-listed spot bitcoin ETFs, drawing analyst concern about institutional sentiment. CoinDesk put bitcoin near $83,400 at 10:30 UTC after an early high of about $84,250, while Proactive financial news reported it near $81,835, down 2.2%. CoinDesk linked the early gains to falling oil prices after Trump announced a deal for Russia to supply diesel fuel, though Ukrainian officials said they were not consulted on a claimed energy ceasefire. Proactive pointed to a stronger US dollar, higher Treasury yields and caution before inflation data. On altcoins, CoinDesk reported most major cryptocurrencies advancing, while Proactive said ether, XRP and solana were falling.

    Key facts

    • U.S. spot bitcoin ETFs recorded $681 million in outflows last week, the largest weekly withdrawal since June, per SoSoValue.
    • Analysts cited $82,000 as key support that bulls must defend to avoid deeper losses.
    • U.S. inflation data due Oct. 14 is the next major macro catalyst, analysts said.
    • Yahoo Finance reported the week's ETF outflows at $679 million.

    Commentary

    The rebound was borrowed from falling oil and easing geopolitical worries rather than from new crypto demand, so its fading leaves institutional withdrawals as the more telling signal. If Proactive's read that investors are cutting speculative exposure holds, bitcoin's recovery depends on macro relief rather than on the funds that just left coming back.

    Sources: CoinDesk, Yahoo Finance, Proactive financial news

  2. 2

    Strategy buys 250 bitcoin and repurchases $192 million of preferred stock

    Strategy announced on October 12 that it bought 250 bitcoin for about $21.5 million and repurchased $192.4 million of its STRC preferred stock, with the purchases made between October 5 and October 11. The bitcoin buy was funded mainly by selling common shares through an at-the-market program, with $0.5 million of USD cash added. Fortune linked the purchases to bitcoin's recovery, noting it was Strategy's fifth purchase since August. The company had sold portions of its stockpile four times during the downturn and stopped once prices rebounded. Fortune put the value of the holdings at roughly $70 billion, while The Globe and Mail put their total acquisition cost at about $64 billion.

    Key facts

    • Strategy's total bitcoin holdings reached 848,250 BTC.
    • Strategy's average cost is $75,444 per bitcoin, according to The Globe and Mail.
    • Bitcoin fell from a high of $126,000 last October to a low of $58,000 in June, Fortune reported.
    • About $354.8 million remains under the preferred stock repurchase program, plus $1 billion for common stock.
    • As of October 11, Strategy held $4.88 billion in USD reserves and $640.5 million in cash.

    Commentary

    The larger cash move was the STRC buyback, not the bitcoin purchase, which suggests preferred obligations are taking priority over expanding the stockpile. Funding the coin buy through common-share sales also dilutes existing shareholders. Readers tracking the corporate buying revival should weigh buybacks alongside purchases before reading the trend as accumulation.

    Sources: The Globe and Mail, Fortune, Yahoo Finance, MSTR Metrics - Strategy, Moomoo

  3. 3

    Financial Stability Board warns stablecoin market could face bank runs even with full reserves

    On October 12, the Financial Stability Board warned stablecoins could face redemption crises if reserves become inaccessible across borders during market stress. Affiliated issuers that share liability for a token but hold separate reserves can see redemptions concentrate in one jurisdiction while collateral sits in another. FSB Chair Andrew Bailey said international coordination remains underdeveloped, with no mature arrangements for cross-border stablecoin failures. The watchdog said delayed redemptions could push holders to sell at discounts and destabilize dollar pegs, and a large run could spill into traditional finance. It seeks stronger information-sharing and closer monitoring of stablecoin circulation and reserve locations, but its proposals are non-binding, leaving national authorities to implement them.

    Key facts

    • The stablecoin market was valued at approximately $300 billion in mid-2026.
    • About 99% of the stablecoin market's value is pegged to the US dollar.
    • The October 15 G20 meeting of finance ministers and central bank governors will receive the FSB's findings.
    • The FSB's 2025 assessment found substantial gaps in countries' implementation of its global stablecoin recommendations.
    • Circle France's September-updated redemption policy lets it defer certain USDC redemptions during stress events.

    Commentary

    The run risk itself is the predictable part; the open question is who acts when backing assets sit abroad. With no timetable for common procedures on multi-jurisdiction failures and insolvency laws that differ by country, holders would absorb the cost of any delay while authorities establish which regulator can intervene.

    Sources: CryptoRank

  4. 4

    South Korea's Jeonbuk Bank begins offering bitcoin-backed loans to corporate clients

    Jeonbuk Bank, a unit of JB Financial Group, has begun lending against bitcoin; an official told Jaekyung Ilbo one loan has been executed but declined to name the borrower. The bank said it chose bitcoin for its market capitalization and trading volume, and its stress tests showed it held up in sharp price declines. Edaily said the recovery process draws on revised Civil Enforcement Rules effective Oct. 1, which set out legal steps for seizing and selling digital-asset rights. The launch follows Park Chun-won's earlier pledge and his 'Crypto Bank' vision, and comes after JPMorgan's March debut of similar loans for institutional clients. The bank may expand the service depending on demand and regulatory changes.

    Key facts

    • Jeonbuk Bank is South Korea's first bank to offer bitcoin-backed loans, Edaily reported.
    • Loans are denominated in won and limited to corporate clients' business operating costs.
    • Bitcoin is the only eligible collateral for now.
    • A registered crypto service provider, not the bank, holds the bitcoin in custody.
    • If a borrower defaults, the bank would recover its money through a court-ordered sale of the bitcoin.

    Commentary

    The notable step is less the product than the risk it moves: borrowers carry bitcoin's price swings, while the bank's protection depends on how quickly and at what price it can sell after a default. Only a default during a price fall will show whether bitcoin's deep liquidity holds when the bank must sell.

    Sources: CoinDesk, Bitcoin Magazine

  5. 5

    Moscow Exchange prepares to launch crypto trading, with testing underway

    Moscow Exchange is preparing to open crypto trading to clients and has begun testing with professional market participants, senior managing director Boris Blokhin told journalists, according to Interfax. The exchange will work with a partner settlement digital depository, where participants will open accounts. Trades can run through existing exchanges, brokers and trust managers, with new players such as crypto exchangers joining. The move follows Russia's law on digital currencies and digital rights, which took effect in September and sets comprehensive crypto rules. Yet the Kremlin keeps a tight grip on how citizens use crypto, even as President Vladimir Putin seemed to praise bitcoin in 2024.

    Key facts

    • Moscow Exchange plans to let clients trade cryptocurrencies starting in December.
    • Blokhin said the exchange needs no additional permits or licenses to launch trading.
    • Sberbank announced last month it was the first in Russia approved by the Bank of Russia to custody bitcoin.
    • Unqualified investors can buy bitcoin and stablecoins up to 300,000 rubles ($3,556) a year via one intermediary.
    • Using crypto as a payment has been illegal in Russia since 2022.

    Commentary

    The launch is the predictable part; what moved is access, because the investor tiers, not the venue, decide who can trade. Qualified buyers face no ceiling, so the early volume is likely to come from them rather than from unqualified investors. Watch whether the retail limits survive, since they set how far this market can reach.

    Sources: Bitcoin Magazine