Odaily reports: According to monitoring by on-chain analyst Yu Jin, a certain address shorted 13,830 ETH at a price of $2,366 at 11 PM last night, worth $32.72 million. At 7:30 AM this morning, ETH rebounded to $2,409, and 2,765 ETH of that address's position was liquidated, worth $6.66 million. Currently, 11,061 ETH of long positions remain, worth $26.64 million, with a liquidation price of $2,419, just $9 away from the current price.
Odaily reports that 10x Research's latest crypto market weekly report notes that the crypto market broadly suffered a sell-off last week, with altcoins declining significantly more than Bitcoin. The 141 tokens it tracks fell 14% on average, while Bitcoin dropped only 3% over the same period.
10x Research states that trading volume in the crypto market is currently declining, stablecoin supply continues to contract, and ETF fund flows have turned to net outflows, reflecting mounting pressure on market liquidity.
However, options market pricing indicates that pressure remains relatively low, while speculative positions in the CME futures market are near highs, suggesting that the derivatives market has not yet fully reflected the weak performance of the spot market.
10x Research believes that investors should focus this week on key Bitcoin technical levels, Ethereum position allocation, as well as capital flows and position changes in the altcoin market.
Odaily report: According to monitoring by on-chain analyst Ember, a whale's BTC long position worth $110 million was not triggered by its market-price stop-loss. At 4 AM today, BTC dropped to a low of $80,684, still $184 away from the whale's $80,500 stop-loss price. At 5 AM, the whale closed the BTC long position at $80,949, incurring a loss of $3.26 million. Subsequently, the whale shifted to going long on $45.8 million worth of US stocks, including TSLA, DRAM, and SOXL.
Odaily reports: Crypto.com's prediction market trading platform and Novig filed suit against Missouri officials in federal court last Friday, asking a judge to bar the state from taking enforcement action against their sports event contracts. Previously, Missouri Attorney General Catherine Hanaway sent cease-and-desist letters in September to six platforms, including both companies, requiring them to stop offering sports event contracts to state residents within 30 days or obtain a state license and pay a 10% tax. Crypto.com said the cease-and-desist letter was mistakenly sent to Foris DAX, Inc. rather than the trading platform itself; the Missouri Constitution only permits the issuance of two mobile sports prediction licenses, and both have already been granted, making obtaining a license unfeasible.
The two platforms argue that the Commodity Exchange Act grants the CFTC exclusive jurisdiction and preempts state law. Kalshi, Polymarket, Robinhood, and Underdog, which also received cease-and-desist letters in September, had not filed suit in Missouri federal court as of Sunday. Because multiple U.S. federal appellate courts are divided on whether federal law preempts state regulation, Novig has asked the court to issue a preliminary injunction during the litigation to maintain the status quo.
Odaily reports: Ripple's institutional brokerage business Ripple Prime has launched real-world asset (RWA) perpetual swaps, offering institutional clients continuous trading across more than 100 reference markets including individual equities, equity indices, ETFs, metals, energy, and foreign exchange. Ripple Prime acts as counterparty for these trades, with pricing referenced to perpetual contracts listed by Trade.xyz on the decentralized derivatives platform Hyperliquid, and does not involve ownership of the underlying assets or physical settlement. Clients can cross-margin related positions with other assets on the platform, and eligible clients may use RLUSD as collateral; market maker Virtu is among the early users. The business is currently offered under a British Virgin Islands license and plans to expand to more regions.
Odaily reports: Michael Passalacqua, Senior Counsel to CFTC Chairman Mike Selig and head of the Innovation Working Group, introduced that after the Clarity Act stalled, the CFTC's Reg CAM, or "crypto asset market" framework, aims to provide crypto asset trading platforms with a path to voluntarily opt into CFTC-led unified national regulation. The arrangement is mainly targeted at platforms offering retail customers leveraged, margin, or financed trading, enabling them to escape the patchwork regulatory landscape of state money transmission licenses; pure spot trading without leverage generally remains outside this mandatory framework. Passalacqua said the rulemaking is currently in the public comment phase, and whether the industry finds the proposal attractive remains undetermined.
Odaily Report: Although stablecoin circulating supply saw almost no growth in the first nine months of 2026, their payment use is accelerating. During the same period, stablecoin payment volume reached $482 billion, up 45% year-over-year; the number of payment transactions rose to over 1 billion, up 71% year-over-year. On-chain stablecoin card spending reached $3.9 billion, 10 times that of the same period last year, with small purchases under $50 accounting for 84% of the incremental card transaction growth. This week, Mastercard, Stripe, and Visa successively launched services to integrate stablecoins into existing payment systems. Of the $97.9 trillion in raw transfers in the first three quarters, only 2.5%—or $2.4 trillion—represented end-user activity, and the $482 billion figure represents payment volume under that measure; stablecoin card spending in Q2 accounted for only 0.03% of Visa's $4 trillion in payment volume during the same period.
Odaily reports: Circle disclosed that in the first half of 2026, USDC retained only 7 cents of net profit per $1 of revenue. According to a blog post published on October 16 by Circle Chief Business Officer Kash Razzaghi, Circle generated approximately $1.4 billion in revenue and reserve income in the first half of the year, of which $819 million was distributed to distribution partners and used for transaction costs, equivalent to about 59 cents per dollar of revenue. Circle stated that the low revenue retention rate demonstrates the sustainability of its model, and said that competitors' higher revenue-sharing ratios mean they are saving costs on underlying infrastructure.
Circle holds more than 55 licenses and partners with over 25 banks, with more than 150 partners participating in the USDC economic revenue share. In the first half of 2026, USDC on-chain transaction volume exceeded $36 trillion; in June 2026, USDC's share of global stablecoin transaction volume rose to 77%, up from 60% in the same period the previous year. Open USD launched in June 2026, featuring free minting and redemption, and distributes reserve income directly to participants.
Odaily reports: The U.S. Depository Trust & Clearing Corporation (DTCC) will open commercial access to its tokenization service this month, covering approximately $30 trillion in assets under DTC central securities depository custody—about one-quarter of its total assets under custody. The service will initially run only on two closed platforms, Canton and Besu, with an initial batch of 25 liquid instruments including U.S. Treasuries, major ETFs, and Russell 1000 large-cap stocks. The system will only support two types of participants converting traditional securities into tokens via UI or API between 2:00 and 18:00 ET, while institutions can transfer tokens between wallets around the clock. Stellar (XLM) has been named a 2027 launch partner and will be integrated under the SEP-41 standard alongside Circle's Arc solution, with the original timeline of the first half of 2027 unchanged; a closed pilot in July this year involved more than 30 Wall Street institutions.
Odaily: U.S. SEC Chair Paul Atkins stated that despite setbacks in the U.S. legislative process and leadership changes, the SEC will continue to advance a comprehensive crypto market structure. Previously, the Digital Asset Market Clarity Act failed to clear the Senate's 60-vote procedural threshold on September 15, shifting the policy focus to federal regulators using existing authorities to provide regulatory clarity. During Atkins' tenure, the SEC announced interim regulatory exemptions in September to ease certain tokenized stock trading; Patrick Witt, executive director of the White House crypto council, departed, having previously participated in CLARITY Act negotiations.
Odaily reports that Ethereum co-founder Vitalik Buterin launched a "paranoid mode" for his AI agent on October 16, designed to conceal user identity, request origins, and payment traces. The solution packages zkAPI, Tor, additional obfuscation traffic, and local large language model prompt rewriting into an OpenAI-compatible daemon, with an outer wrapper designed for the agent framework pi. The system is already running on the Ethereum mainnet and supports ETH and USDC deposits. Vitalik stated that the system is "already quite usable," but starting new conversations is relatively slow, and the agent is confined to a software sandbox.
Odaily — A trader holds a long position of 1,205.30865 BTC on the decentralized perpetual contract trading platform Hyperliquid, with a notional value of approximately $97.87 million, using 40x isolated leverage. The position's average entry price is $81,913.80, with an estimated liquidation price of $79,828.
As of 12:25 on October 18, Bitcoin was trading at $81,117 on Bitstamp, 1.59% above the position's liquidation price. The position has an unrealized loss of approximately $866,500, funding fee expenses of approximately $87,000, and available margin has dropped to zero.
The account has accumulated losses of approximately $9.7793 million over the past 7 days, with a maximum drawdown of 78.77%. It has recorded a total of 3,763 trades with a win rate of 16.67%. Currently, 100% of its exposure is in Bitcoin longs, with no short positions held. (Bitcoin.com News)
Odaily reports: U.S. brokerage Charles Schwab is rolling out Bitcoin and Ethereum external wallet transfers to eligible clients in phases, supporting transfers of the relevant assets into and out of external wallets, expanding its service scope beyond merely providing market exposure within investment accounts. Charles Schwab stated that Bitcoin and Ethereum held through its services will not receive FDIC insurance, and the relevant crypto assets are not insured traditional bank deposits. The service will be launched gradually, and the company has discussed expanding supported assets beyond Bitcoin and Ethereum.
