gm 18/10

Summary
gm, BlackRock expanded its stablecoin presence by modifying its Select Treasury Based Liquidity Fund to serve as a reserve asset for stablecoin issuers under the GENIUS Act. Multiple institutional players made major moves: Ripple acquired treasury management firm GTreasury for $1 billion, Huobi founder Li Lin raised $1 billion to launch an Ether trust, and a16z Crypto invested $50 million in Solana's liquid staking protocol Jito. Meanwhile, the market experienced broad volatility with Bitcoin testing key support levels around $105,000 amid banking concerns, triggering over $1.2 billion in liquidations as negative sentiment intensified, evidenced by the Crypto Fear and Greed Index hitting yearly lows.

News Headlines
📉 Crypto Markets Face Significant Losses as Altcoins Plummet

• Crypto markets experienced substantial losses with Bitcoin testing key support levels after a $500 billion weekend bloodbath, while altcoins like TAO, ASTER, and LDO saw declines exceeding 12%.
• Despite overall bearish sentiment, some indicators suggest bullish expectations, with traders paying higher premiums for call options as shown by a spike in the 1-week 25 Delta Skew.

🔄 Coinbase Launches Stablecoin Payments Platform for Businesses

• Coinbase has introduced a business platform for small and medium-sized companies to accept crypto payments, manage assets, and earn up to 4.1% APY on USDC holdings through a partnership with Circle.
• The platform offers instant settlements, multi-user access, and integrations with popular accounting software like QuickBooks and Xero, positioning Coinbase against fintech competitors like Mercury and Brex.

📱 Farcaster Hits 100K+ Funded Wallets as It Builds Out Its App Store

• Crypto social app Farcaster has surpassed 100,000 funded wallets, focusing on serving the crypto-native audience rather than competing with mainstream platforms like Twitter or Instagram.
• The platform has seen a surge in app downloads (over 500,000 across Android and iOS) and plans to introduce more privacy features and support for additional blockchains to enhance user experience.

💳 Crypto Executives Attend Trump's White House Ballroom Fundraiser

• Executives from Gemini, Ripple, and Coinbase participated in a fundraising dinner hosted by Donald Trump to fund a new White House ballroom, estimated to cost $250 million.
• The event signals deepening connections between the crypto industry and the current administration as key executives navigate the evolving landscape of digital assets and political engagement.

⚠️ Ether Retail Longs Metric Hits 94%, Potentially Signaling Bull Trap

• Retail traders currently hold 94% long positions on Ether, which historically serves as a contrarian indicator suggesting potential overcrowding and increased risk of price reversal.
• While market structure shows promise for a bullish rally towards $4,500–$5,000, the high percentage of retail longs indicates possible vulnerability to pullbacks if traders begin taking profits.

Market Metrics

Fundraising & VC
1. Tempo (Series A, $500M) - Payments‑first Layer 1 blockchain
2. Orochi Network (Undisclosed, $8M) - Verifiable data layer for RWA

Regulatory
🏛️ Fed's Barr Warns of Stablecoin Dangers

• Federal Reserve Governor Michael Barr cautioned against risks in upcoming stablecoin regulations under the GENIUS Act, comparing potential vulnerabilities to the 2008 financial crisis.
• Barr emphasized the need for comprehensive rules to prevent regulatory arbitrage and protect the financial system, highlighting concerns about uninsured deposits and volatile assets as reserves.

⚖️ France Intensifies Crypto Exchange Oversight

• France's banking regulator is stepping up enforcement of Anti-Money Laundering regulations on Binance and other crypto exchanges, with additional compliance checks focusing on AML and CFT rules.
• French authorities are advocating for greater regulatory authority under the EU's MiCA regulation amid concerns about uneven standards across member states.

💼 Florida Reintroduces Crypto Reserve Bill

• Florida Representative Webster Barnaby has reintroduced a crypto reserve bill that would allow the state and certain public entities to invest up to 10% of their funds in digital assets.
• The new bill expands beyond Bitcoin to include crypto ETFs and NFTs, with stricter compliance measures for custody and documentation of holdings.

🌐 Ghana Targets December for Crypto Regulations

• Ghana's central bank aims to finalize cryptocurrency regulations by December, with the proposed bill currently moving through parliament.
• The regulatory push comes as more than 3 million Ghanaians (8.9% of the population) are involved with cryptocurrencies, creating urgency for a supportive regulatory framework.

💰 Russia Leads Europe in Crypto Adoption

• Chainalysis reports that Russia has become Europe's leading country for cryptocurrency adoption, receiving $376.3 billion in crypto transactions from July 2024 to June 2025.
• The 48% year-over-year increase is largely attributed to a surge in large institutional transfers exceeding $10 million, which grew by 86% compared to the previous year.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency has broken down through support at points 107600. This predicts a further decline. In case of positive reactions, there will now be resistance at points 107600. The volume balance is negative and weakens the currency in the short term. The short term momentum of the currency is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Bitcoin. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The currency is overall assessed as technically negative for the short term.

Ethereum - Ethereum has broken down from an approximate horizontal trend channel in the short term. This signals a continued weak development, and the currency now meets resistance on possible reactions up towards the floor of the trend channel. The currency has support at points 3440 and resistance at points 4300. The volume balance is negative and weakens the currency in the short term. The currency is overall assessed as technically negative for the short term.