Crypto’s transparency reveals market manipulation that traditional finance hides. Century-old laws riddled with loopholes enable unpunished manipulation. Opinion by: Nic Puckrin, founder of CoinBureau The largest liquidation event in the history of the crypto market, which wiped out at least $19 billion in long positions after US President Donald Trump announced punitive tariffs on China late on Oct. 10, exposed an ugly side of this nascent market: its vulnerability to insider trading. Onchain data shows that a significant short position was taken out on Hyperliquid just half an hour before the big announcement. Once the market plummeted, this trader bagged $160 million, sparking speculation over market manipulation — with some even theorizing that the “whale” behind the transaction was close to the presidential family itself. Read more
21Shares has filed for a Hyperliquid ETF, while Bitwise’s Solana staking ETF has a big day of trading as investors perk their ears toward altcoins. Asset manager 21Shares is seeking to launch an exchange-traded fund (ETF) tracking the token behind the perpetual futures protocol and blockchain, Hyperliquid, amid growing Wall Street interest in alternative cryptocurrencies. The company filed for the 21Shares Hyperliquid ETF with the Securities and Exchange Commission on Wednesday, which did not disclose a ticker symbol or fee. Coinbase Custody and BitGo Trust were named as custodians. It follows a similar filing for a Hyperliquid (HYPE) ETF from Bitwise last month. The token gives discounts on the Hyperliquid decentralized exchange and is used to pay fees on its blockchain. It has increased in value over the past year, in line with the service’s growing popularity. Read more
More than 3.4 million daily users of BNB Chain now have access to over 100 tokenized stocks and ETFs on Wall Street after the latest move from Ondo Global Markets. Real-world asset tokenization platform Ondo Global Markets has expanded its tokenized product offerings to BNB Chain, enabling access to more than 100 Wall Street stocks and exchange-traded funds to BNB Chain’s user base. “The integration provides BNB Chain — with its 3.4 million daily active users and expansive DeFi ecosystem — access to over 100 tokenized US stocks and ETFs, supported by leading ecosystem projects such as PancakeSwap,” Ondo said in a statement on Wednesday. PancakeSwap is BNB Chain’s largest decentralized exchange and will be the primary platform for trading tokenized versions of US stocks and ETFs. Read more
Downloads for decentralized messaging app Bitchat has surged in Jamaica as 185-mile-per-hour winds batter the Caribbean, cutting off communication. Jamaicans have rushed to download Jack Dorsey’s decentralized peer-to-peer messaging app Bitchat as the fatal Hurricane Melissa continues to rip through the Caribbean. Bitchat — which uses Bluetooth mesh networks for internet-free, encrypted communication — is now the second-most downloaded app on the Apple App Store and Google Play in Jamaica, offering a lifeline for 2.8 million people as internet coverage continues to falter in the region. Bitchat only trails weather forecast platform Zoom Earth — indicating that two of Jamaican’s most basic needs right now are to know what the weather is, and to communicate with one another. Read more
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, a pro-crypto political group has endorsed Andrew Cuomo in the New York City mayoral race. Meanwhile, Grayscale Investments launched its staking Solana ETF in the United States, and Ethereum’s Fusaka fork went live on its final testnet. Innovate NY, a self-described “pro-digital assets” political organization funded with about $100,000 ahead of the New York City mayoral election, has backed independent candidate and former state Governor Andrew Cuomo. In a Tuesday notice, Innovate NY endorsed Cuomo for mayor, the race for which is already in the middle of early voting. The political group cited an agenda that included “blockchain, tokenization, public-benefit stablecoins, and artificial intelligence.” Read more
The potential acquisition would mark one of Mastercard’s largest crypto bets yet, expanding its stablecoin and tokenization infrastructure amid growing competition. Mastercard is reportedly in advanced talks to acquire crypto and stablecoin infrastructure startup zerohash in a deal valued from $1.5 billion to $2 billion, according to multiple sources familiar with the negotiations. The news, reported by Fortune on Wednesday, follows earlier efforts by Mastercard to expand its footprint in stablecoin infrastructure. The global payments giant previously explored acquiring BVNK, a London-based stablecoin startup, in a deal valued near $2 billion, according to sources familiar with the talks. Read more