Odaily reports that according to Arkham monitoring, the whale mtAAVEbank.ETH sold over 138,000 LINK, worth $1.9 million, 6 hours ago, when BTC had not yet fallen below $84,000. The whale is suspected of selling LINK to fund its 8x leveraged CRCL position on Hyperliquid. The position was once underwater by over $1.25 million. It still holds over $21 million in digital assets, mainly stablecoins, with over 10% of the funds coming from Aave borrowing.

Odaily: CFTC Chairman Michael Selig said yesterday that under the proposed rules, only federally regulated cryptocurrency trading platforms will be able to offer leveraged trading. States can only provide money transmission services, and the 100x leverage commonly seen outside the United States has never been allowed in the U.S., nor will it be this time. Previously, the U.S. Commodity Futures Trading Commission proposed two new rules aimed at establishing a U.S. cryptocurrency regulatory framework based on its authority to oversee leveraged and margin trading.

Odaily News: The US IRS released Revenue Procedure 2026-20 on October 6, updating and replacing Revenue Procedure 2025-31 issued in November 2025, clarifying that qualifying investment trusts and grantor trusts may participate in PoS staking while retaining tax benefit treatment. The IRS recognizes compliant staking as a "property preservation activity," keeping the trust on the passive side and preserving its investment trust and grantor trust status (IRC Sections 671 to 677).

The safe harbor contains 14 requirements, including that shares be listed on a national exchange, that only a single digital asset be held, that assets be custodied by a qualified custodian, that the liquidity policy be approved by the SEC, and that staking rewards not be hoarded. The guidance applies to tax years ending on or after November 10, 2025.

Odaily News: Coinbase plans to relaunch Coinbase Pro by the end of this year, supporting spot, futures, perpetual contracts, options, and equities trading, and has completed its integration with Deribit to create the Coinbase Global exchange. Within the coming weeks, eligible traders outside the United States will gain access to options trading, with options trading expected to go live; U.S. retail traders are expected to gain access later this year. U.S. institutional clients can trade Deribit options and perpetual futures through Coinbase Prime, and use custody, financing, and staking services on the same platform.

Odaily reports that Polymarket CEO Shayne Coplan stated that ICE, the parent company of the New York Stock Exchange, is one of Polymarket's major shareholders and is in discussions with regulators regarding on-chain equity-related matters.

Odaily: Coinbase posted on X platform that Coinbase Pro will return, with waitlist registration now open. Users can apply for priority access.

Odaily reports, according to Lookonchain monitoring, before the market decline, 4 newly created wallets deposited 1 million USDC into Hyperliquid and shorted 148.49 BTC with 40x leverage, with a notional value of $12.5 million. Subsequently, Bitcoin fell below $84,000.

Odaily reports that former federal prosecutor Renato Mariotti pointed out that the SEC's crypto asset FAQ, published on September 25 and updated on September 28, is merely non-binding staff guidance that can serve as a reference but is not a "protective charm." The FAQ, issued by the SEC's Division of Corporation Finance, addresses topics including staking receipt tokens, decentralized network buyback programs, and how marketing communications fit into the Howey test, but it does not name any specific assets or protocols and only provides principle-based statements. Mariotti stated that the FAQ only reflects the views of SEC staff, has not been formally approved by the Commission, and carries no legal force; since the rule proposed on August 18 has not yet been finalized and the Clarity Act is stalled in Congress, industry participants still need to rely on staff commentary to make their own judgments regarding disclosure and token design.

Odaily News: @frankdegods, the founder of DeGods, sold over $1 million worth of altcoins on-chain within the past half hour, including $1 million of BP, $250,000 of EDEL, and $70,000 of GP.

Odaily report: Tom Lee stated at Token2049 that if you're bullish on ETH, then you should also be bullish on Bitmine. Bitmine is designed to outperform base assets like BTC and ETH within this cycle. If ETH rises to $22,000, Bitmine's stock price will rise from $26 to $300–$500. If ETH rises to $62,000, then Bitmine will rise to $1,200–$1,500.

Odaily reports that Tom Lee stated at Token2049 that we are at the beginning of a supercycle, and within the next decade, everything running on traditional finance will be tokenized.

According to Lookonchain monitoring, after ETH dropped below $2,600, a trader's 3,728 ETH long position (worth $9.85 million) was fully liquidated within 3 minutes.

Odaily News: Polymarket founder Shayne Coplan stated at Token2049 that predictions on presidential elections, as well as the Ukraine conflict and Middle East conflict, have validated Polymarket as a new alternative news source, while sports competition predictions have brought Polymarket a large number of users and rapid revenue growth.

1. Abstract announces it will shut down on December 15, 2026, and requires users to migrate their assets;

2. Winklevoss applies for a Zcash ETF after 13 years;

3. Real-time cryptocurrency price market goes live on Coinbase, allowing users to select coins, time ranges, and price direction;

4. Imperial completes a $1.5 million seed round led by Foundation Capital;

5. U.S. congressman proposes a bill to ban candidates from betting on their own election results;

6. $12.41 million in fee revenue, Pump.fun transferred to Kraken 9 hours ago.

Odaily reports that Luca Netz posted on X that Abstract is gradually shutting down, and its parent company Igloo Inc. will shift all of its focus to Pudgy Penguins, Pudgy NFTs, and PENGU. Igloo has continued to provide funding support for Abstract over the past 18 months. Over its two years of operation, the project has accumulated losses in the tens of millions of dollars and has still not found product-market fit (PMF).

He said that Abstract had previously processed over 300 million onchain transactions, launched Portal and AGW, and attracted multiple global brands to join, but issues such as an insufficient DeFi ecosystem, limited liquidity, low institutional participation, high costs, and declining demand for related products continued to constrain growth. In the end, Igloo Inc. could no longer continue diverting funds from the Pudgy Penguins business to support Abstract, and it did not choose to raise funds through token issuance or an ICO.