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Bitcoin traded at $117,729.81 as of press time, struggling to extend gains from its $126,000 all-time high as short-term positioning dynamics and risk-off flows dominated the medium-term debasement thesis.The debasement trade thesis gained popularity after JPMorgan published a report on the topic on Oct. 1. The thesis is based on the expectation that fiscal expansion and currency devaluation will drive demand for hard assets.Consequently, assets that hold buying power, such as gold and Bitcoin, would favor under these conditions. Amid this backdrop, gold reached a new all-time high of $4,059.38 on Oct. 10.But if gold is benefiting from the debasement…

Kalshi raises a $300 million Series D round.It comes as competition is heating up.Kalshi just raised a $300 million Series D round at a $5 billion valuation. Sequoia and Andreessen Horowitz led the prediction market’s raise, with participation from other investors, including CapitalG, Coinbase Ventures, General Catalyst, and Spark Capital.In a statement shared with DL News, Alex Immerman, partner on a16z’s Growth Fund, applauded the founders for taking “the difficult but more responsible route” of becoming regulated by the Commodity Futures Trading Commission. The cash injection comes as prediction markets are increasingly becoming a key feature of the crypto industry.It…

Donald Trump announced that he would impose an additional 100% tariff on Chinese products starting Nov. 1, in strong retaliation against China’s decision to restrict exports of rare earth materials essential for high-tech manufacturing.Markets reacted sharply to the announcement, with the S&P 500 index falling 2.7% from the previous day. The news triggered widespread volatility across global equities, leading crypto-related stocks to post steep declines as investor risk appetite weakened.Sponsored SponsoredCrypto Stocks Lead Double-Digit Market Sell-OffThe renewed trade tensions between the US and China sparked a broad market sell-off that directly hit crypto-related stocks. As of Friday’s market close in…

Blockchain security firm PeckShield reported Friday that a wallet suffered a devastating loss of roughly $21 million worth of crypto assets on Hyperliquid, a decentralized trading platform.According to PeckShield, the theft stemmed from a private key compromise, allowing an attacker to drain the victim’s funds in a single swift move.The hack was isolated and was targeted towards the victim’s wallet, not HyperLiquid itself.The stolen assets PeckShield claims included approximately 17.75 million DAI and 3.11 million MSYRUPUSDP, both of which the hacker has since bridged to Ethereum.Onchain data shows that the attacker’s wallet executed a series of transactions to move the…

Morgan Stanley is dropping long-standing restrictions on which of its wealth management clients can invest in crypto funds, broadening access across its $8.2 trillion platform. Starting Oct. 15, financial advisors will be able to offer bitcoin and crypto funds to any client — including those with retirement accounts — according to reporting by CNBC.  Until now, only investors with more than $1.5 million in assets and an aggressive risk profile could participate. In other words, Morgan Stanley will soon let all its wealth management clients, including those with retirement accounts, invest in crypto. No asset-cap required. The move marks a…

PANews reported on October 11th that BitMEX co-founder Arthur Hayes stated that the automated liquidation of collateral linked across margin positions on large centralized exchanges (CEXs) was the cause of the significant price decline for numerous altcoins during this period. He stated that "liquidation functions normally when limit orders are blocked," and added that it would be difficult for many high-quality altcoins to return to their previous lows in the short term.

Big Tech companies that once dismissed Bitcoin (BTC) as a balance sheet asset are now watching Strategy, led by Executive Chairman Michael Saylor, amass a digital asset treasury approaching the size of their own cash piles. The surge comes as Bitcoin hit a new all-time high above $126,000 this week, driven by investor demand for hard assets seen as hedges against US dollar debasement — a narrative increasingly likened to gold.However, Bitcoin isn’t the only corner of crypto attracting major institutional money. The Intercontinental Exchange (ICE) has invested $2 billion in Polymarket, a decentralized prediction platform, valuing the firm at…

Morgan Stanley is widening access to cryptocurrency investments for its wealth management clients, CNBC reported Wednesday, in a move that signals a broader shift among traditionally cautious Wall Street institutions.Starting next Wednesday, the bank will allow its financial advisors to offer crypto investments to all clients — regardless of risk tolerance or net worth — and across all account types, including retirement plans, according to the report. Previously, the option was limited to clients with at least $1.5 million in assets, an aggressive risk appetite and a taxable brokerage account.The decision marks a major expansion for Morgan Stanley’s $8.2 trillion…

The SAFE token is down 23% amid a widespread crypto selloff.Safe, the decentralized smart account project, is restructuring the way its flagship interface, Safe Wallet, operates, it revealed on Friday, Oct. 10. Safe Wallet currently has more than 4.5 million monthly active users. In a post on X, Safe co-founder Lukas Schor revealed that Safe Labs, a fully owned subsidiary of the Safe Foundation, is taking direct control of the platform. He said the move aims to improve reliability, strengthen governance, and better align the wallet’s operations with the broader Safe ecosystem.“By bringing an instance of Safe{Wallet} into the Foundation’s…

The cryptocurrency market was rattled recently as Binance Alpha (AB) token experienced a staggering 99% crash in mere minutes. From $0.0083 to $0.0000051, the token lost almost its entire value before a slight rebound to $0.00151. Traders, analysts, and investors were left scrambling for explanations, highlighting the fragility of low-liquidity tokens and concentrated ownership in the crypto space. Low Liquidity Amplifies the AB Token Crash One of the primary factors behind the Binance Alpha token crash is low liquidity. Despite a daily trading volume of $5 million and over 573,000 AB tokens changing hands, the available liquidity was only $2.17…