NewsNews

Crypto news

  1. 1

    London court rules Chinese law governs fraud victims' claims to 61,000 seized bitcoin

    A London High Court judge, Mark Turner, ruled on Monday that Chinese law, not English law, must govern fraud victims' property claims to the seized bitcoin, because the fraud occurred entirely in China. The victims had argued English law could let them claim property rights over the coins. The ruling does not finally decide who keeps the bitcoin, but it narrows the victims' route to recovery and improves the chances that the UK Treasury eventually retains it. The victims' lawyers are appealing, the Financial Times reported. The Crown Prosecution Service says a further hearing will determine whether any victims can establish an interest in the bitcoin.

    Key facts

    • The 61,000 bitcoin seized by London's Metropolitan Police are worth about £3.8 billion ($5 billion).
    • Zhimin Qian pleaded guilty to a Ponzi scheme that defrauded over 128,000 investors between 2014 and 2017.
    • Qian converted the stolen proceeds into bitcoin before fleeing to Britain in 2017.
    • The scheme ran through Tianjin Lantian Gerui Electronic Technology, Qian's company.
    • A Yahoo Finance segment said the ruling could complicate Chinese claims to the bitcoin.

    Commentary

    What moved is the governing law, not the fraud itself: a jurisdictional choice is shaping who can reach the coins before anyone has decided who owns them. The cost falls on Chinese fraud victims, who must now pursue claims under a legal framework they had argued against, which makes the state the early beneficiary.

    Sources: CoinDesk, Yahoo Finance

  2. 2

    Strive buys 3,311 bitcoin for about $280 million, its largest purchase since January

    Strive, the bitcoin treasury company founded by Vivek Ramaswamy, bought 3,311 bitcoin between Oct. 5 and Oct. 9, according to an 8-K filing with the Securities and Exchange Commission on Tuesday. It was the company's largest single increase since January, when its all-stock merger with Semler Scientific added about 5,048 bitcoin. CEO Matt Cole has said he wants Strive to finish 2026 as the world's second-largest public bitcoin holder, but Metaplanet remains 11,227 BTC ahead. Cole posted on X that warrant holders had exercised $208 million before the 5 p.m. ET expiry Tuesday. Benzinga said the purchase included those exercises, but no one has confirmed how much of the buy came from warrants.

    Key facts

    • The purchase cost roughly $280 million.
    • Average price was about $84,500 per coin, including fees and expenses.
    • Holdings rose from 29,462 BTC before the purchase to 32,773 BTC.
    • Strive ranks fifth among public bitcoin holders, with MARA fourth at 35,577 BTC.
    • Strive amended its SATA preferred stock so new shares cannot be sold below $100 each.

    Commentary

    The buy is the predictable part; the telling detail is who pays for it. Share and preferred counts rose while Strategy, the largest holder, cut its own buying, so closing the gap to second place depends on continued issuance rather than bitcoin prices alone. Shareholders absorbing that dilution are the cost to watch.

    Sources: The Block, Dallas Express, Yahoo Finance, Benzinga

  3. 3

    Strategy's Michael Saylor says crypto bear market is over and predicts bitcoin above $100,000

    Strategy co-founder Michael Saylor declared on Tuesday that the past year's crypto bear market is over and predicted bitcoin will climb back above $100,000. He said bitcoin bottomed slightly below $60,000 and is moving up, trading near $83,000. Bitcoin has been stuck near $80,000 since mid-August, unable to recover from a record $19 billion in forced crypto position closures shortly after its peak. Saylor expects Strategy to buy more bitcoin and issue credit, forecasting 20% to 30% annual growth over the next few years. Strategy has paused buying and sold bitcoin recently, and Saylor introduced a capital framework to build cash reserves. He also pushed back against MSCI, calling its stance prejudicial and a bad precedent.

    Key facts

    • MSCI is weighing rule changes that could exclude Strategy from its global equity benchmarks; a decision is expected Friday.
    • Strategy reported a $21 billion gain on digital assets in the third quarter, ending four straight quarters of losses.
    • Bitcoin trades about 30% below its all-time high of $126,251, set in October 2025.
    • Strategy holds 848,000 bitcoin per Quartz, but TradingView reports 848,250 as of October 11.
    • Strategy's average acquisition cost is about $75,000 to $76,000 per bitcoin.

    Commentary

    Saylor's rebound call is the predictable part; the harder test is whether a bitcoin treasury funded by new securities keeps its place in global benchmarks. Standard Chartered's bullish year-end target contrasts with prediction markets giving only about 33% odds of bitcoin reclaiming six figures by year-end, so the bull case rests on a move that has not happened.

    Sources: Quartz, TradingView

  4. 4

    Interactive Brokers launches Ethereum staking for eligible clients

    Interactive Brokers has launched Ethereum staking for eligible clients, letting them earn rewards on ETH held through its brokerage. Clients stake or unstake through a staking dashboard in the Client Portal, and rewards are credited as additional staked Ethereum, so holdings compound. CEO Milan Galik said the service lets clients earn on crypto they own, comparing it with the broker's Stock Yield Enhancement Program. Initial rollout is limited to Ethereum, and availability depends on eligibility and jurisdiction. The move builds on an offering letting clients trade digital assets alongside stocks, and follows a March launch of crypto trading for eligible retail investors in the European Union. Extension to other cryptocurrencies has not been confirmed.

    Key facts

    • Interactive Brokers' staking service is provided by crypto infrastructure firm zerohash.
    • Crypto trading commissions range from 0.12% to 0.18% of trade value, with a $1.75 minimum per order.
    • Account funding is supported through USD Coin, Ripple USD and PayPal USD.
    • A Simply Wall St fair value estimate indicates 20% potential upside to the current share price.
    • Interactive Brokers shares were trading at $86.97.

    Commentary

    This is a retention play more than a yield play: keeping ETH and cash inside one platform makes clients less likely to move assets elsewhere. Its effect on the shares will show in whether account and balance growth follows, not in the staking rewards themselves.

    Sources: Yahoo Finance, Simply Wall Street

  5. 5

    Coinbase calls for early preparation for Bitcoin's post-quantum transition

    Coinbase has published technical priorities for Bitcoin's post-quantum transition, urging the community to prepare before any announcement of a cryptographically relevant quantum computer. The exchange said the migration would be complex and multi-year, since rule changes and fund movements can take years. It argued that protection requires more than a new signature scheme, and pointed to P2MR (BIP-360) and P2TRv2 as designs that appear to let new signature systems be added. Coinbase also called for staged protection, letting active wallets use hybrid constructions before policy on legacy signatures is settled, and for any stateful signatures to come with a stateless option. Coinbase said abandoned or inaccessible coins should be debated alongside the technical work.

    Key facts

    • Coinbase said it does not establish a migration deadline or announce an agreed Bitcoin upgrade.
    • Coinbase holds about 5% of all bitcoin in existence.
    • Coinbase warned that reusing a signing state in stateful signature systems can allow forgery.
    • Coinbase is preparing its own systems and participates in the Bitcoin Security Consortium.

    Commentary

    Custody requirements, not just cryptographic strength, are shaping what Coinbase wants Bitcoin to adopt, since it wants at least one signature option compatible with multiparty computation. The heaviest cost could fall on dormant holders, because restrictions Coinbase lists for evaluation, such as freezes and limits on older signatures, would reach owners who have not moved their coins.

    Sources: The Block, The Quantum Insider