Flash News

TREE NEWS update: Ripple-backed XRP treasury company Evernorth completed its business combination with SPAC Armada Acquisition Corp. II on October 9, bringing roughly 473 million XRP and $300 million in cash proceeds to the public market. The company is expected to begin trading on Nasdaq under the ticker XRPN next Monday.

TREE NEWS reports: About $72.9 million stolen in the Ledger CryptoBillis attack remains in addresses controlled by the attacker, held in bitcoin, ether and USDT. A further $3.1 million has moved into Tornado Cash, while the rest of the funds have been bridged, swapped or layered through relayers.

TREE NEWS update: Ripple-backed XRP treasury company Evernorth completed its business combination with SPAC Armada Acquisition Corp. II on October 9, bringing roughly 473 million XRP and $300 million in cash proceeds to the public market. Evernorth expects to begin trading on Nasdaq under the ticker XRPN next Monday.

TREE NEWS update: The U.S. Commodity Futures Trading Commission issued a proposed rulemaking to further define “swap” to explicitly include event contracts based on sports, politics, culture and weather. CFTC Chairman Michael Selig said such products are commodity derivatives under the Commodity Exchange Act and fall under the agency’s exclusive jurisdiction. The proposal is open for 30 days of public comment; the CFTC separately issued an interim final rule stating casino-style gaming products such as sports betting and casino games are not swaps.

TREE NEWS update: The United States plans to seize about $1 billion in cryptocurrency linked to Iran this week, Treasury Secretary Scott Bessent said. The Treasury Department has announced several digital asset seizures tied to US sanctions on Iran. The figure covers crypto assets connected to sanctioned Iranian activity.

TREE NEWS update: Education company Genius Group purchased 10 bitcoin worth $854,000, its first repurchase since selling its entire bitcoin reserve on April 1 to repay $8.5 million in debt. The company had accumulated 440 BTC by February 2025 before a roughly year-long New York injunction tied to a dispute with LZG International. The US Second Circuit Court of Appeals lifted that freeze on August 31, and CEO Roger James Hamilton called the purchase a signal that Genius Group is resuming bitcoin accumulation.

TREE NEWS update: New York has permanently barred Celsius founder Alex Mashinsky from the cryptocurrency, securities and commodities industries under a $35 million settlement. The agreement resolves a 2023 civil fraud lawsuit brought against the Celsius founder. The ban is permanent.

TREE NEWS reports: US stocks closed higher, with the Dow up 0.85%, the Nasdaq up 0.29% and the S&P 500 up 0.49%. Among crypto-linked names, Coinbase (COIN) rose 5.90% and Circle (CRCL) gained 5.34%, while MARA fell 3.32%. Amazon (AMZN) added 3.20%, Block (XYZ) rose 2.93% and Intel (INTC) dropped 2.31%.

TREE NEWS update: THORChain technical co-founder Chad Barraford said Tether temporarily froze the network’s USDT vaults and then unfroze them without explanation. Barraford, who also goes by the pseudonym Pluto, disclosed the incident publicly. Tether has not commented on the freeze.

TREE NEWS reports: Former FTX COO Constance Wang said Netflix’s trailer for “The Altruists” made her “physically throw up,” arguing the series misrepresents FTX’s collapse and turns it into a love story. Wang, who served as the exchange’s chief operating officer, made the remarks in response to the streaming giant’s upcoming dramatization of the FTX saga.

TREE NEWS update: NEAR Protocol is weighing a draft plan that would lower its maximum annual token issuance from 2.5% to 1.6%, cutting both dilution and staking rewards. The proposal comes as NEAR has gained 83% over four weeks, outpacing bitcoin and ether. No timeline for a vote or implementation was given.

TREE NEWS update: Sen. Richard Blumenthal is pressing Cantor Fitzgerald to open its records on its business with Tether and on how much Commerce Secretary Howard Lutnick’s family has earned from the deal. The request targets the Wall Street firm’s ties to the stablecoin issuer and the profits flowing to the Lutnick family.

TREE NEWS update: Eldorado Gold’s Skouries mine has been designated a strategic project under the European Union’s Critical Raw Materials Act, the company said. The designation places the Greek gold and copper project within the EU framework aimed at securing domestic supply of critical raw materials. No further details were disclosed.

TREE NEWS update: Blockchain.com has filed for designated contract market and futures commission merchant licenses in the US, which would allow the crypto platform to operate its own regulated event-contract venue rather than relying on overseas partners. The application covers prediction markets and crypto derivatives. No timeline for a decision was given.

TREE NEWS update: Fintech unicorn OPay has secured a $185 million placement from Standard Bank, the company’s backers include Japan’s SoftBank Group. The deal was disclosed without further terms. OPay operates in digital payments and financial services.

TREE NEWS reports: Bitcoin rebounded after falling to around $80,000, capping a rough week for the largest cryptocurrency. Traders are now placing increasingly high odds that BTC slips further before October ends, betting the bounce does not mark a bottom.

TREE NEWS reports: The suspected hacker behind the Ledger reseller CryptoBillis exploit has moved 430.2 ETH, worth about $1.07 million, into Tornado Cash via four wallets. After Tether froze related funds, the hacker is converting USDT to USDD through SUN.io and USDD’s PSM, with some funds sent to a Binance hot wallet. The Arkham-flagged address still holds roughly $70.6 million, including 11,406 ETH, 213.37 BTC, 13.65 million USDD and 10.91 million USDT.

TREE NEWS update: Ledger is investigating user fund losses linked to Southeast Asian reseller CryptoBilis, the hardware wallet maker warned. Separately, researchers estimate between $72 million and $86 million in suspected crypto thefts connected to the matter. Ledger advised users to review their exposure and flagged the reseller as the focus of the probe.

TREE NEWS reports: Hardware wallet maker Ledger has warned that it is investigating user fund losses tied to Southeast Asia reseller CryptoBilis. Separately, researchers estimate suspected cryptocurrency theft linked to the matter at between $72 million and $86 million. Ledger is advising users to check their exposure and has identified the reseller as the focus of the investigation.

TREE NEWS update: Coinbase said Canadian customers will see delays on deposits and withdrawals made through Interac after the payment network suffered an outage. The exchange did not say when service would return to normal. Interac is the main interbank payment rail used for Canadian dollar transfers in and out of Coinbase accounts.