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On the 17th (local time), on-chain data platform Unfolded, citing Bloomberg, reported that Huobi Global co-founder Leon Li launched a new company to hold and manage approximately $1 billion worth of Ethereum (ETH). According to the outlet, the company plans to stockpile ETH over the long term and pursue investment strategies to promote ecosystem growth and expand market liquidity.
Bitcoin (BTC) briefly recovered to $107,000. BTC is trading at $107,059.33, down 1.32% from the previous day on the Binance Tether (USDT) market as of 01:01 on the 18th.
On the 17th (local time), Changpeng Zhao (CZ), founder of Binance, expressed interest in BNB Chain-based prediction market projects on X(formerly Twitter). He said, "I briefly looked into more than 20 BNB Chain-based prediction market startup projects," and "There may be an opportunity to build a dedicated oracle(Oracle) for prediction markets. It's difficult to accurately predict the market's potential size (TAM), but it's worth trying," he said. The market has reacted that Changpeng Zhao's remarks are interpreted as a positive signal for the expansion of the BNB Chain ecosystem and the activation of decentralized prediction markets.
Bitcoin (BTC) briefly recovered to the $106,000 level. BTC is trading at $106,091.30, down 3.58% from the previous day, based on the Binance Tether (USDT) market at 00:30 on the 18th.
On the 17th (local time), according to economic breaking news channel Walter Bloomberg, CNBC's poll of 1,000 U.S. adults conducted from October 8 to 12 found that U.S. President Donald Trump's approval rating dropped from 46% to 44%. Disapproval was recorded at 52%. Among respondents, 42% evaluated President Trump's economic policies positively, while support for handling inflation and the cost of living stood at 34%. Meanwhile, 55~62% responded negatively, pointing out that "the responsibility for the ongoing government shutdown lies with President Trump and the Republican Party."
The three major U.S. stock indices are showing mixed results. The Nasdaq Composite was trading at 22,545.52 points at 00:08 on the 18th, down 0.07% from the previous day. The Dow Jones index was up 0.24% at 46,064.53 points, and the S&P 500 was up 0.05% at 6,632.18 points.
On the 16th (local time), according to economic news channel Walter Bloomberg, U.S. President Donald Trump said, "Putin and Zelensky are not getting along with each other," and "depending on the situation, I may arrange a separate meeting between the two." Trump added, "I will probably meet Putin within two weeks."
On the 16th (local time), according to economic breaking news channel Walter Bloomberg, the international spot price of gold recorded $4300 per ounce, once again setting an all-time high. Recently, gold prices have continued to rise amid global economic uncertainty, expectations for the U.S. Federal Reserve's monetary policy, and escalating geopolitical tensions.
The three major U.S. stock indices closed lower. The Nasdaq Composite recorded 22,562.54 points, down 0.47% from the previous day on the 17th. The Dow Jones Industrial Average closed at 45,952.24 points, down 0.65%, and the S&P 500 index closed at 6,629 points, down 0.63%.
On the 16th (local time), according to crypto-focused media CryptoBriefing, Florida filed a bill to allow a portion of public funds to be invested in Bitcoin (BTC) and digital assets. House Bill 183 (HB183), introduced by Representative Webster Barnaby, contains provisions that would allow the state chief financial officer (CFO) and the state administrative commission to invest in and manage Bitcoin and digital asset exchange-traded products (ETPs).
Changpeng Zhao (CZ), the founder of Binance, directly rebutted Peter Schiff, a prominent advocate of gold investment, who criticized Bitcoin (BTC). On the 16th (local time), Changpeng Zhao posted on X(formerly Twitter), "Only 1%(about two months) of Bitcoin's 16-year history was a time when he was right," stating, "During that period, Bitcoin rose from $0.004 to $110,000." Earlier, Peter Schiff had argued, "The recent sharp rise in gold prices proves that Bitcoin is not 'digital gold'," and "Bitcoin could collapse at any time, and this bear market will be very brutal." Changpeng Zhao's remarks are interpreted as an attempt to emphasize BTC's long-term performance amid the renewed debate over gold and Bitcoin as stores of value.
Bitcoin (BTC) temporarily relinquished the 108,000 dollars level. BTC is trading at 107,982.19 dollars, down 2.92% from the previous day on the Binance Tether (USDT) market as of 03:24 on the 17th.
On the 16th (local time), according to economic news channel Walter Bloomberg, U.S. President Donald Trump said, "If Hamas continues to carry out killings in the Gaza Strip, it will be considered a failure to comply with the agreement," saying, "In that case, we will have no choice but to intervene to remove them."
On the 16th (local time), according to crypto-focused media The Block, Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), said during a panel discussion at the "DC Privacy Summit" held in Washington D.C., "Real-World Asset Tokenization is currently the issue the SEC is paying the most attention to." Commissioner Peirce said, "The SEC is recently conducting discussions in various areas such as token issuance procedures, trading structure design, and virtual asset custody (safekeeping) issues," and added, "We are also cooperating with Congress to prepare a clear draft bill that can govern the digital asset industry as a whole." She also emphasized, "Tokenized real-world assets will become a key element connecting traditional finance and the digital asset market," and "securing regulatory clarity is the key to market growth."
On the 16th (local time), according to breaking economic news channel Walter Bloomberg, U.S. President Donald Trump said that after a phone call with Russian President Vladimir Putin, he plans to hold a direct meeting in Budapest, Hungary, the location agreed upon by both sides. President Trump said, "I had a very productive call with President Putin today," and "we discussed in depth measures for U.S.-Russia trade cooperation after the Russia-Ukraine war." He added, "I will meet directly with President Putin in Budapest, Hungary, the agreed location, to discuss the possibility of ending the war and future cooperation measures."
On the 16th (local time), cryptocurrency-focused media CoinDesk analyzed that Bitcoin (BTC)'s short-term decline stemmed from a lack of liquidity within the risk asset market. The outlet said, "Safe-haven assets such as gold and silver are repeatedly hitting record highs, but Bitcoin has given up the $109,000 level and continues to be weak," and explained, "Last week's crash was a process of excessive leverage being unwound, but the continued downward pressure thereafter indicates liquidity contraction within the financial system." It added, "Liquidity shortages are acting as a factor that weakens preference for risk assets," and "In fact, the gap between the U.S. Secured Overnight Financing Rate (SOFR) and the Effective Federal Funds Rate (EFFR) surged from 0.02 to 0.19 in a week. This is a clear signal of liquidity contraction," it added.
KPMG, one of the global Big Four accounting firms, analyzed in a recent report that "the adoption of stablecoins could reduce cross-border payment costs by up to 99%." On the 16th (local time), according to crypto asset (cryptocurrency) specialist media CoinDesk, KPMG said in the report that "global banks currently rely on the interbank messaging network 'SWIFT' to move about $150 trillion in funds annually," and "however, this system incurs a cost of $235 for payments." It added, "If stablecoins are used, payment times can be shortened to minutes or even seconds, and costs could also be reduced by up to 99%." KPMG also said, "Major financial institutions such as J.P. Morgan are already experimenting with blockchain-based value transfer, and this signifies an innovative turning point for traditional financial infrastructure."
Bitcoin (BTC) temporarily gave up the $109,000 level. BTC is trading at $108,985.99 as of 02:01 on the 17th on the Binance Tether (USDT) market, down 1.37% from the previous day.
Cryptocurrency trader and analyst Ali Martinez recently wrote on X (formerly Twitter) that "from a technical trend perspective, XRP may retest the $2 level." He said, "XRP has shown a short-term downtrend during the recent correction, but a major support is formed around $2.1," and added, "If that support area holds, the possibility of a rebound is also open." Meanwhile, during the sharp drop on October 11, XRP experienced a 'black swan' event where it temporarily fell to $1 on some exchanges, but overall it has maintained price levels above $2 for about four months.
On the 16th (local time), crypto-focused media Cointelegraph analyzed that a technical bearish signal that previously caused 46~60% declines has reappeared on the Ethereum (ETH) chart. According to the outlet, on Binance's ETH/USD weekly chart a cross occurred with the moving average convergence–divergence (MACD) line crossing below the signal line. The outlet said, "This phenomenon was also observed earlier this year, when the spot ETH price plunged more than 60% within weeks," and "There was about a 46% correction after a similar signal in mid-2024," adding, "ETH must hold the $4,000 support to avoid further declines." Experts warned, "If technical bearish signals overlap amid ongoing macroeconomic uncertainty, short-term corrective pressure could intensify." ETH was trading at 3950.48 dollars, down 0.73% from the previous day on the Binance Tether (USDT) market at 00:43 on the 17th.
On the 16th (local time), according to business breaking news channel Walter Bloomberg, Ripple announced on its official website that it has acquired corporate treasury and risk management support SaaS (software as a service) company GTreasury for about $1 billion (about 1.4 trillion won). Ripple said, "This acquisition is an important turning point that significantly expands Ripple's business domain and will enable entry into the global corporate treasury management market worth trillions of dollars," adding, "Through this, we have strengthened touchpoints with large corporate customers and established a foundation to integrate Ripple's payment and liquidity solutions." This acquisition is expected to strengthen Ripple's position as a provider of corporate financial solutions beyond blockchain-based payment infrastructure.
On the 16th (local time), according to crypto asset media CoinDesk, the United States' largest crypto exchange Coinbase officially launched Circle's stablecoin USDC-based payment platform 'Coinbase Business'. Coinbase Business simplifies business-to-business stablecoin payments, removes chargebacks (payment cancellations), and supports automated payment systems through API integration. Also, users who deposit USDC on the platform can earn interest at around 4.1% per year, and can instantly cash out through a linked business bank account. Meanwhile, Coinbase shares the revenue generated from USDC, the world's second-largest stablecoin, with Circle on a 50/50 basis, and the industry regards USDC as effectively Coinbase's own stablecoin.
The three major U.S. stock indexes are showing gains. The Nasdaq Composite is trading at 22,833.97 points, up 0.72% from the previous day as of 00:10 on the 17th. The Dow Jones Industrial Average is at 46,359.90 points, up 0.23%, and the S&P 500 is at 6,698.28 points, up 0.41%.
The three major U.S. stock indices closed mixed. On the 16th, the Nasdaq Composite rose 0.66% from the previous day to 22,670.08 points. The Dow Jones index fell 0.04% to 46,253.31 points, and the S&P 500 index rose 0.41% to 6,671.50 points.
On the 15th (local time), according to crypto-focused media The Block, Nasdaq-listed social media marketing firm Thumzup is considering including Dogecoin (DOGE) in user rewards. Thumzup explained, "Including DOGE in rewards has the advantage of not having to go through bank payment procedures and can also lower transaction costs."
Eric Trump, the second son of President Trump and co-founder of World Liberty Financial (WLFI), said in an interview with CoinDesk on the 15th (local time) that "we plan to tokenize a new real estate project of the Trump Group," and added that "the initiative will include World Liberty Financial and the use of its own stablecoin USD1." He added that "we are considering ways to raise funds without banks through tokenization and to enable participation by ordinary small investors." Earlier, Jack Witkoff, CEO of WLFI, stated at the Token2049 conference that "there are plans to tokenize real estate owned by President Donald Trump's family."
On the 15th (local time), crypto-focused media Cointelegraph reported that 'Uptober'—the October upswing in the virtual asset (cryptocurrency) market—is dependent on inflows into spot exchange-traded funds (ETFs) and the trend of the U.S. stock market. The outlet said, "Bitcoin (BTC) has recently shown a high correlation of 92% with the Nasdaq index and has plunged together with the U.S. stock market when it falls," and added, "as the U.S. stock market rebounded earlier this week, Bitcoin also raised the possibility of recovery." Jurrien Timmer, head of macroeconomics at asset manager Fidelity, said, "The current correction is similar to a temporary adjustment that appeared before the late-1990s U.S. stock market 'Super Bull' run," and "if the corporate earnings season gets underway in earnest and the stock market recovery continues, conditions could be created for the resumption of the Bitcoin rally."
On the 15th (local time), according to cryptoasset (cryptocurrency) media Decrypt, Japan's Sony Group-affiliated internet bank Sony Bank has applied to the United States Office of the Comptroller of the Currency (OCC) and is pursuing the issuance of a dollar-linked stablecoin and the provision of cryptoasset custody and management services. Sony Bank plans to operate the business through its subsidiary Connectia Trust. Currently, Stripe, Coinbase, Paxos, and Circle, among others, have applied to the OCC, and Anchorage Digital is the only one to have received official authorization.
On the 15th (local time), the U.S. Federal Reserve (Fed) said in its economic conditions report, the 'Beige Book', that in most districts economic activity was little changed or stagnant compared with the previous report. The report analyzed that "most districts are experiencing difficulties due to recent tariff increases and an overall decline in demand." Some districts reported that business lending conditions have somewhat improved following interest rate cuts, but many districts pointed out that economic activity remains weak. Several district reports also warned that "rising uncertainty could dampen future economic activity," and "particularly, if a prolonged government shutdown continues, the risk of slower growth could increase."
On the 15th (local time), according to crypto-focused media The Block, Binance co-founder He Yi dismissed the recently raised 'about $20 billion fund outflow' allegation in the community as "baseless FUD (fear, uncertainty, and doubt)." Some online communities alleged that about $20 billion left Binance after the largest forced liquidation ever that occurred on the 11th. In response, He cited DeFiLlama data and countered that "in fact, there were net inflows of more than $4 billion." Meanwhile, Binance initially warned of legal action over the claim by decentralized prediction market platform Limitless that "it was asked for listing fees," but after criticism that the response was excessive, it issued an official apology.