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Bitcoin is a decentralized digital currency without a central bank or single administrator. It can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. Its implementation was released as open-source software in 2009 and began to be used then.
Meanwhile Completes $37.5 Million Funding Round Led by Bain Capital Crypto
Odaily News: Bitcoin life insurance company Meanwhile has announced the completion of a $37.5 million funding round led by Bain Capital Crypto, with participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital, among others. The company's cumulative funding has now exceeded $180 million.Meanwhile is headquartered in Bermuda and is licensed to conduct insurance business entirely in Bitcoin. The company stated that an unstable macroeconomic environment has driven increased demand for Bitcoin life insurance policies in markets across Asia, Europe, and the Middle East.In early 2026, Meanwhile launched BTC Life 1-Pay, a single-premium whole life insurance product, for high-net-worth clients outside the United States, following the earlier launch of BTC 10-Pay for U.S. taxpayers. Policies can be held by individuals, trusts, or corporations for inheritance and estate planning purposes. (Cointelegraph)
Bitcoin life insurance company Meanwhile closes $37.5 million funding round
According to Cointelegraph, Bermuda-headquartered Bitcoin life insurance provider Meanwhile has announced $37.5 million in new funding, bringing its total capital raised past $180 million. The round was led by Bain Capital Crypto, which will enable the company to expand into overseas markets such as Asia and Europe.
Ansem: Cultural and faith-based assets will command massive premiums in the AI era; bullish on Zcash's quantum risk narrative.
Ansem (@blknoiz06) tweeted that as AI continues to expand, the value of culture and collective belief will become increasingly prominent. He believes that if quantum risk poses a substantial threat to Bitcoin, Zcash could see a higher valuation driven by its privacy and store-of-value narrative; he also agrees with Murad’s broader take on memecoins—in a world where AI commoditizes intelligence, cultural assets that people truly believe in may command a massive premium, despite the extremely low likelihood of pure memecoins flipping Bitcoin.
Thailand SEC to Allow Bitcoin and Ethereum ETFs to Trade on the Stock Exchange of Thailand
Odaily report: The Securities and Exchange Commission (SEC) of Thailand has completed the drafting of relevant rules to allow cryptocurrency exchange-traded funds (ETFs) to be listed and traded on the Stock Exchange of Thailand, initially limited to Bitcoin and Ethereum. The rules will take effect on October 16, 2026.Initially, products such as depositary receipts linked to overseas cryptocurrency ETFs will not be permitted, and Thai brokerages will still not be allowed to assist retail investors in investing in overseas cryptocurrency ETFs. Institutional investors and ultra-high-net-worth individuals are not subject to this restriction. Mutual funds and private funds may invest in cryptocurrency ETFs established in Thailand.The relevant ETFs must adopt a passive investment approach, tracking the prices of the underlying crypto assets, and must maintain an average net exposure to any single cryptocurrency of at least 80% of net asset value during each fiscal year. Brokerages may not provide margin financing, and fund assets must be custodied by digital asset custodians regulated by the SEC. (Cointelegraph)
Meanwhile, Bitcoin Life Insurer Closes $37.5M Funding Round, Latest Valuation Reaches $350M
According to Axios, Meanwhile, a Bitcoin life insurance company backed by Sam Altman, has raised $37.5 million in funding, bringing its latest valuation to $350 million. The company offers Bitcoin-denominated life insurance products, enabling clients to benefit from the appreciation of their cryptocurrency assets without paying high capital gains taxes.
After violating Bitcoin holdings limit and receiving a waiver, IMF completes second and third reviews of El Salvador's $1.4 billion financing facility and disburses $139 million
Odaily reports: Bitcoin News posted on the X platform that the International Monetary Fund has completed the second and third reviews of El Salvador's $1.4 billion financing facility, disbursing $139 million, and granted a waiver after the country violated its Bitcoin holdings limit. The IMF now expects that, apart from documented donations, the Salvadoran government will not purchase additional Bitcoin and will enhance the transparency of its public Bitcoin holdings.
Japanese police arrest 6 crypto money laundering suspects, involving funds of approximately $580,000
According to Jiji Press and TBS, Japanese police have arrested six individuals suspected of using cryptocurrency to launder money for a fraud syndicate. Police investigations show the group allegedly processed approximately 91 million yen (about $580,000) in scam funds between February and March 2024, affecting around 30 victims. The funds were first deposited into a corporate bank account, exchanged for BTC, converted to USDT through overseas channels, and transferred back to the fraud ring, with those involved reportedly taking a 1% commission.
Suspected Platform-Level Breach: COLDCARD Official X Account Posts Phishing Link
Odaily reports: Bitcoin News posted on X that hardware wallet manufacturer COLDCARD stated its official X account had published a fake security advisory directing users to a phishing website disguised as a wallet migration guide; the post has been deleted, but no corresponding login, session, or access records were found. COLDCARD said its credentials and offline two-factor authentication remain secure, leading it to suspect that the attacker may have obtained X platform-level or administrator privileges, and it has asked X's security team to investigate urgently. The company also mentioned unverified reports of X administrator accounts being sold on darknet markets, but has not yet found a connection to this incident.
Supply Chain Attack Confirmed: Ledger Says At Least One Affected User Device Contained Unauthorized Hardware Implant
Odaily reports: Bitcoin News posted on X platform that Ledger has confirmed at least one affected user's device contained an unauthorized hardware implant, and is currently investigating the matter with relevant authorities and SEAL_911. Hardware wallet reseller CryptoBilis has suspended sales of all hardware wallets. Ledger stated there is currently no indication that its internal security infrastructure, systems, or services have been compromised. Ledger advises users who purchased devices from CryptoBilis and have not yet completed setup to refrain from doing so; users who have already completed setup should consider generating a new seed phrase and transferring their Bitcoin to a new hardware wallet. Ledger also stated it is developing additional tamper-proof protections.
$860 Million Suspected Wallet Theft Case Involved as Fake Ledger Website Appears at Top of Google Search
Odaily reports: Bitcoin News posted on X platform that security researcher @cyberscrilla discovered a fake Ledger website and app appearing at the top of Google search results, designed to trick users into revealing their 24-word recovery phrase. According to Google data, the website reportedly received over 1 million visits in the past 30 days.Previously, cybersecurity company Zscaler found in a September investigation that malicious Google ads impersonating Ledger redirected users to fake wallet verification pages. Currently, Ledger is investigating a suspected wallet theft case involving customers of Southeast Asian distributor CryptoBilis, with estimated losses of $86 million.
Lithuania Updates Crypto Asset User Reporting Rules, EU-Wide Implementation Kicks Off in 2026
the State Tax Inspectorate of Lithuania has updated the user reporting procedures for crypto asset service providers. Through Order No. VA-63, it has clarified the reporting scope and operational standards, aligning the country's rules with the EU's DAC8 and the OECD's Crypto-Asset Reporting Framework (CARF).The new rules require regulated crypto asset service providers and local crypto operators to enhance customer due diligence, collect user identity, transaction records, and tax residency information, and maintain records of customer identification numbers, transaction logs, and account balances. Entities that have already completed registration and reporting obligations in other EU member states may be exempt from duplicate reporting in Lithuania.Full operational reporting across the EU will begin on January 1, 2026, with data collected by platforms in 2026 to be automatically exchanged among member state tax authorities starting mid-2027. The new rules do not change Lithuania's virtual asset capital gains tax rate, but relevant institutions will need to update their client onboarding processes and back-end systems.Starting March 2, certain transactions involving electronic money tokens (EMTs) will require additional payment service authorization, including transferring EMTs on behalf of clients and operating custodial wallets that support third-party transfers; exchanges between EMTs and exchanges between EMTs and fiat currency are not automatically classified as payment services. (Bitcoin.com News)
Franklin Templeton, with $1.79 trillion in AUM, explores regulatory exemptions for tokenized fund trading
Odaily News — Global investment management firm Franklin Templeton is exploring regulatory exemptions to allow tokenized money market funds and ETFs to trade through blockchain-based trading venues. On October 9, the company met with staff of the U.S. Securities and Exchange Commission (SEC) Crypto Task Force regarding legal issues including pricing, fees, and asset pools.The agenda included whether investors can exchange blockchain fund shares for tokenized National Market System (NMS) stocks through blockchain trading venues, and whether liquidity providers can charge service fees. The related issues involve pricing rules under the Investment Company Act and whether exemptions are needed.Regarding tokenized ETFs, Franklin Templeton also discussed pairing them with tokenized stocks, approved payment stablecoins, or tokenized money market funds, as well as whether liquidity pools need to obtain Investment Company regulatory exemptions. Its preliminary disclosure on September 30 listed assets under management at $1.79 trillion.Franklin Templeton's blockchain fund recordkeeping business began with the Franklin Onchain U.S. Government Money Fund launched in 2021. The BENJI token represents shares of the fund, and transferring tokens simultaneously transfers the corresponding shares, with transactions recorded and share ownership tracked by the Benji Technology Platform. (Bitcoin.com News)
Tom Lee: Ethereum Could Break $5,000 by Year-End, This Cycle Could Reach $50,000
Tom Lee, Chairman of Ethereum treasury company Bitmine, said in an interview that Ethereum could rise to $25,000 to $50,000 in this cycle. He believes that ETH has been trading in a similar range for the past five years, and sustained bottoming may lay the foundation for a larger breakout ahead.Tom Lee also expects ETH to exceed $5,000 by the end of the year, noting that if Bitcoin rises above $100,000, ETH could reach around $7,500. However, market prediction data shows that traders currently see only a 4% probability of ETH reaching $5,000 by the end of 2026.
Analyst: BTC's current price action resembles late 2025 to early 2026, with $80,500 possibly being a key near-term support level
Odaily reports: Crypto analyst Darkfost posted on X platform that Bitcoin's current price action is quite similar to the market pattern seen from late 2025 to early 2026, with the price continuing to oscillate around the capital-weighted cost basis, and $80,500 possibly being a key near-term support level. Unlike realized price, which only calculates the purchase price, the capital-weighted cost basis metric weights holding costs based on the scale of invested capital, and is therefore regarded as an important zone for measuring the market's average profit and loss status.Darkfost further noted that the current zone is a key pivot where investors on average are at the critical threshold between profit and loss, and market uncertainty may prompt more investors to take action. The $80,500 level may currently serve as support, but future price action still requires continued attention.
“Oct 11 Crash” First Anniversary: $19B Liquidation Warning Persists, Analysts Warn of Derivatives Leverage Risks
According to CoinDesk, it has been one year since the "October 11 crash" that triggered roughly $19 billion in leveraged liquidations across the crypto market, with analysts warning that the potential structural risks behind the flash crash persist. In October 2025, Bitcoin experienced a sudden flash crash within days of hitting an all-time high above $126,000, plummeting from approximately $122,000 to $105,000 in a short timeframe and triggering the mass liquidation of leveraged long positions.
Over the past 72 hours, whale cohorts accumulated approximately 15,000 BTC, over 166,000 ETH, and 45 million XRP
according to crypto analyst alicharts, during this Bitcoin pullback, whale cohorts have adopted an accumulation strategy for major cryptocurrencies. Over the past 72 hours, whale cohorts accumulated approximately 15,000 BTC, over 166,000 ETH, and 45 million XRP.
Prominent Trader: Buyers are actively stepping in during Bitcoin's pullback, with buy-side support emerging in the $80,000 low range.
Well-known trader Killa posted that Bitcoin has clearly seen buying capital enter during this recent downturn, a phenomenon that closely mirrors the price action during the previous consolidation range. Analysis indicates that downside support appears limited, suggesting that a significant volume of buy orders and bullish confidence are concentrated around the low $80,000 region. As a key psychological level for Bitcoin, the support expectation at this area is further reinforced.
Hyperliquid Whale Holds $32.36M Bitcoin Short Position, 13x Leverage, Entry Price $82,863
Odaily News — A whale trader on Hyperliquid holds a short position of 391.48 BTC, valued at $32.36 million, with an average entry price of $82,863.10. The account has $7.19 million in equity, uses cross margin with 13x leverage, and has a liquidation price of $99,801.20.According to Hyperbot data, the account has executed a total of 4,726 trades, with perpetual contract profits of $952,200 over the past week and a maximum drawdown of 11.03%. As of the time of disclosure, the short position is profitable by approximately $75,500, with funding fees of $64,249.75.This position emerged on the one-year anniversary of the massive crypto market liquidation event on October 10, 2025. Hyperliquid's Bitcoin market open interest is approximately 38,040 BTC, with this account's position accounting for about 1% of it.Coinglass data shows that if Bitcoin rises to $85,000, approximately $3.3 billion in short positions would face liquidation. Polymarket data indicates that the probability of Bitcoin reaching $100,000 before December 31, 2026, is 27.5%. On October 9, spot Bitcoin ETFs saw net inflows of $21.13 million, with BlackRock's IBIT leading the way. (Bitcoin.com News)
Suspected Platform-Level Breach: COLDCARD Official X Account Posts Phishing Link
Odaily reports: Bitcoin News posted on X that hardware wallet manufacturer COLDCARD stated its official X account had published a fake security advisory directing users to a phishing website disguised as a wallet migration guide; the post has been deleted, but no corresponding login, session, or access records were found. COLDCARD said its credentials and offline two-factor authentication remain secure, leading it to suspect that the attacker may have obtained X platform-level or administrator privileges, and it has asked X's security team to investigate urgently. The company also mentioned unverified reports of X administrator accounts being sold on darknet markets, but has not yet found a connection to this incident.
Supply Chain Attack Confirmed: Ledger Says At Least One Affected User Device Contained Unauthorized Hardware Implant
Odaily reports: Bitcoin News posted on X platform that Ledger has confirmed at least one affected user's device contained an unauthorized hardware implant, and is currently investigating the matter with relevant authorities and SEAL_911. Hardware wallet reseller CryptoBilis has suspended sales of all hardware wallets. Ledger stated there is currently no indication that its internal security infrastructure, systems, or services have been compromised. Ledger advises users who purchased devices from CryptoBilis and have not yet completed setup to refrain from doing so; users who have already completed setup should consider generating a new seed phrase and transferring their Bitcoin to a new hardware wallet. Ledger also stated it is developing additional tamper-proof protections.
A mysterious address opened a 40x leveraged short position on approximately $25.38 million worth of BTC, with unrealized profit of about $160,000 and a liquidation price of $84,088
according to on-chain analyst Yu Jin's monitoring, an address received 263 ETH from Tornado Cash yesterday, then swapped it for approximately 643,000 USDC and deposited it into Hyperliquid.The address opened a 40x leveraged cross-margin short position on 305.5 BTC, with a position size of approximately $25.38 million, an average entry price of $83,068, and a liquidation price of $84,088. The current unrealized profit is about $160,000. The source of the address's funds involves Tornado Cash, but it cannot yet be confirmed whether it is related to hacker activity.
About $72.9 million is still in attacker-controlled addresses, Ledger CryptoBillis stolen funds distribution disclosed
According to monitoring by Galaxy's head of research, in the Ledger CryptoBillis attack incident, approximately $72.9 million remains in addresses controlled by the attacker, involving Bitcoin, Ethereum, and USDT; $3.1 million entered Tornado Cash, while the remaining funds have been bridged across chains, swapped, or layered and transferred through relayers.
92% of stolen Bitcoin was held for less than 90 days at consolidation; Ledger CryptoBillis supply chain attack loses 213.42 BTC
According to Odaily, citing Galaxy's head of research, the losses from the Ledger CryptoBillis supply chain attack currently amount to 213.42 BTC, approximately $17.7 million. Of this, 92% of the funds were held for less than 90 days at the time of consolidation, while some funds were held for longer periods. All traced Bitcoin remains unspent and is stored in 3 consolidation addresses.
Losses Reach 213.42 BTC in the $17.7 Million Ledger Cryptocurrency Supply Chain Attack
Odaily News: According to monitoring by Galaxy's head of research, the Bitcoin losses caused by the Ledger cryptocurrency supply chain attack currently amount to 213.42 BTC, valued at $17.7 million. Of this, 92% of the funds were transferred in less than 90 days ago, while some funds were transferred even earlier. All Bitcoin traced so far remains unspent and is held in 3 aggregation addresses.
Suspected Platform-Level Breach: COLDCARD Official X Account Posts Phishing Link
Odaily reports: Bitcoin News posted on X that hardware wallet manufacturer COLDCARD stated its official X account had published a fake security advisory directing users to a phishing website disguised as a wallet migration guide; the post has been deleted, but no corresponding login, session, or access records were found. COLDCARD said its credentials and offline two-factor authentication remain secure, leading it to suspect that the attacker may have obtained X platform-level or administrator privileges, and it has asked X's security team to investigate urgently. The company also mentioned unverified reports of X administrator accounts being sold on darknet markets, but has not yet found a connection to this incident.
Papertrade.xyz Attracts $118 Million in Deposits, Offers Up to 1000x Leverage
Odaily News — Papertrade.xyz, a synthetic perpetual contract DEX built on Hyperliquid HyperEVM, has attracted $118 million in deposits, reaching a total value locked (TVL) of $118 million, with the platform supporting up to 1000x leverage.As of 11:45 AM ET on October 10, data from Papertrade.xyz shows that the platform's 2,349 positions have open interest of approximately $11 billion, but the funds backing these positions amount to only $54 million.The platform does not charge slippage, funding rates, spreads, or traditional notional trading fees. Trades are executed through synthetic swaps between users and a shared protocol liquidity pool. Losing traders receive PAPER tokens, while profitable traders may experience delayed withdrawals when liquidity is insufficient.Papertrade.xyz was founded by Jez and Blurr, who operate under partial anonymity. The project also sold 100 pairs of custom paper pants at $2,000 each, which sold out in approximately 40 minutes, generating $200,000 in sales. (Bitcoin.com News)
Less than 10 minutes after launch, Papertrade's notional trading volume reached $14.4 billion
Odaily News: Less than 10 minutes after Papertrade went live, its notional trading volume has reached $14.4 billion, with Bitcoin and Ethereum contract open interest at $3 billion and $2.66 billion, respectively. According to the project's mechanism, for every $1 lost by platform users, the protocol will mint a certain amount of PAPER along a curve; when the LP balance is below $2 million, every $1 lost corresponds to 100 PAPER minted, and once the LP balance exceeds $2 million, the minting rate will decrease as the balance increases.
Lithuania Updates Crypto Asset User Reporting Rules, EU-Wide Implementation Kicks Off in 2026
the State Tax Inspectorate of Lithuania has updated the user reporting procedures for crypto asset service providers. Through Order No. VA-63, it has clarified the reporting scope and operational standards, aligning the country's rules with the EU's DAC8 and the OECD's Crypto-Asset Reporting Framework (CARF).The new rules require regulated crypto asset service providers and local crypto operators to enhance customer due diligence, collect user identity, transaction records, and tax residency information, and maintain records of customer identification numbers, transaction logs, and account balances. Entities that have already completed registration and reporting obligations in other EU member states may be exempt from duplicate reporting in Lithuania.Full operational reporting across the EU will begin on January 1, 2026, with data collected by platforms in 2026 to be automatically exchanged among member state tax authorities starting mid-2027. The new rules do not change Lithuania's virtual asset capital gains tax rate, but relevant institutions will need to update their client onboarding processes and back-end systems.Starting March 2, certain transactions involving electronic money tokens (EMTs) will require additional payment service authorization, including transferring EMTs on behalf of clients and operating custodial wallets that support third-party transfers; exchanges between EMTs and exchanges between EMTs and fiat currency are not automatically classified as payment services. (Bitcoin.com News)
Bitdeer sold 300.6 BTC this week, maintaining zero Bitcoin holdings.
Bitdeer posted a weekly Bitcoin update on the X platform, stating that as of October 9, its Bitcoin production for the week was 300.6 BTC, all of which were sold, resulting in a net acquisition of 0 BTC. Its current Bitcoin holdings stand at 0 (excluding customer deposits).
NCUA Proposes 26 New Stablecoin Reporting Fields
Odaily report: The U.S. National Credit Union Administration (NCUA) released a stablecoin reporting proposal on October 9, which would add 26 new data fields to the quarterly financial report Form 5300, applicable to federally insured credit unions engaged in stablecoin business, with a target reporting implementation date of March 31, 2027.Among the proposed new fields, 8 involve reserve assets held for authorized third-party issuers, 9 involve cryptographic key custody and control, 5 involve financial exposure to issuers, and 4 involve payment stablecoins held on institutional balance sheets.The information collection is expected to cover 4,224 federally insured credit unions, with an annual reporting burden of 794,112 hours, and a complete quarterly report requiring an average of 47 hours. The NCUA will seek public comment before December 8, and the feedback will be publicly submitted as part of the approval application. (Bitcoin.com News)
Related news
Japanese police arrest 6 crypto money laundering suspects, involving funds of approximately $580,000
According to Jiji Press and TBS, Japanese police have arrested six individuals suspected of using cryptocurrency to launder money for a fraud syndicate. Police investigations show the group allegedly processed approximately 91 million yen (about $580,000) in scam funds between February and March 2024, affecting around 30 victims. The funds were first deposited into a corporate bank account, exchanged for BTC, converted to USDT through overseas channels, and transferred back to the fraud ring, with those involved reportedly taking a 1% commission.
Suspected Platform-Level Breach: COLDCARD Official X Account Posts Phishing Link
Odaily reports: Bitcoin News posted on X that hardware wallet manufacturer COLDCARD stated its official X account had published a fake security advisory directing users to a phishing website disguised as a wallet migration guide; the post has been deleted, but no corresponding login, session, or access records were found. COLDCARD said its credentials and offline two-factor authentication remain secure, leading it to suspect that the attacker may have obtained X platform-level or administrator privileges, and it has asked X's security team to investigate urgently. The company also mentioned unverified reports of X administrator accounts being sold on darknet markets, but has not yet found a connection to this incident.
Supply Chain Attack Confirmed: Ledger Says At Least One Affected User Device Contained Unauthorized Hardware Implant
Odaily reports: Bitcoin News posted on X platform that Ledger has confirmed at least one affected user's device contained an unauthorized hardware implant, and is currently investigating the matter with relevant authorities and SEAL_911. Hardware wallet reseller CryptoBilis has suspended sales of all hardware wallets. Ledger stated there is currently no indication that its internal security infrastructure, systems, or services have been compromised. Ledger advises users who purchased devices from CryptoBilis and have not yet completed setup to refrain from doing so; users who have already completed setup should consider generating a new seed phrase and transferring their Bitcoin to a new hardware wallet. Ledger also stated it is developing additional tamper-proof protections.
CZ calls the accusations "far-fetched," Binance says depegging only began after Bitcoin bottomed
Bitcoin News posted on X that CZ called the accusations "far-fetched." Binance stated that Bitcoin bottomed at 21:20 UTC, and the depegging event began at 21:36; Ethena's and Dragonfly's Haseeb Qureshi said the timeline does not match. Star Xu replied that Bitcoin fell first, and the leverage loop further exacerbated the decline.
Liquidation Amount Exceeds $19 Billion, October 10 Becomes the Largest Liquidation Day in Crypto Industry History
Bitcoin News posted on X platform that one year ago today, Bitcoin had just hit an all-time high of $126,000, and Standard Chartered predicted at the time that it would reach $200,000. However, October 10 became the largest liquidation day on record in the crypto industry, with liquidation amounts exceeding $19 billion.
Papertrade.xyz Attracts $118 Million in Deposits, Offers Up to 1000x Leverage
Odaily News — Papertrade.xyz, a synthetic perpetual contract DEX built on Hyperliquid HyperEVM, has attracted $118 million in deposits, reaching a total value locked (TVL) of $118 million, with the platform supporting up to 1000x leverage.As of 11:45 AM ET on October 10, data from Papertrade.xyz shows that the platform's 2,349 positions have open interest of approximately $11 billion, but the funds backing these positions amount to only $54 million.The platform does not charge slippage, funding rates, spreads, or traditional notional trading fees. Trades are executed through synthetic swaps between users and a shared protocol liquidity pool. Losing traders receive PAPER tokens, while profitable traders may experience delayed withdrawals when liquidity is insufficient.Papertrade.xyz was founded by Jez and Blurr, who operate under partial anonymity. The project also sold 100 pairs of custom paper pants at $2,000 each, which sold out in approximately 40 minutes, generating $200,000 in sales. (Bitcoin.com News)