Flash News

TREE NEWS update: Netflix released the trailer for a series based on FTX founder Sam Bankman-Fried and former Alameda Research CEO Caroline Ellison. Bankman-Fried remains in federal prison following his 2023 conviction, while Ellison was released in January.

TREE NEWS update: The National Football League has filed a brief with the US Supreme Court opposing federal regulation of prediction markets such as Kalshi and Polymarket, joining the case as it may head toward a final ruling. Other briefs filed this week include submissions from former regulator Gary Gensler and former senator Chris Dodd. Dodd once pushed a bill on which the CFTC bases its claim to final authority over prediction market oversight.

TREE NEWS update: The Aptos Foundation has committed to lock and permanently stake 210 million APT, roughly 37% of the tokens it held at mainnet launch. The tokens will not be sold or distributed, and foundation operations will instead be funded by the staking rewards they generate rather than by selling the locked tokens. Aptos said further updates and a full tokenomics update will follow.

TREE NEWS update: The NFL filed an amicus brief with the US Supreme Court on October 8 backing New Jersey regulators in their case against prediction market Kalshi, arguing sports contracts are gambling rather than swaps and should fall under state oversight, not the CFTC’s exclusive jurisdiction. The league said nearly $2 billion of the $3.3 billion traded on prediction markets during the season’s first Sunday related to NFL games. Kalshi responded that the CFTC already regulates sports-related markets and that federal oversight is more consistent than state-by-state rules.

TREE NEWS reports: Spot Bitcoin ETFs recorded $484.9 million in single-day net outflows, their largest since June, as the market’s “Uptober” rally turned negative. Oil is trading near $100, bond yields stand at their highest since 2002, and the Federal Reserve has not finished raising interest rates.

TREE NEWS update: The NFL filed an amicus brief urging the Supreme Court to take up New Jersey’s case against Kalshi, arguing the exchange’s sports contracts are gambling rather than CFTC-regulated swaps. The league’s filing backs New Jersey’s challenge to the prediction market’s sports offerings. The dispute turns on whether such contracts fall under federal derivatives oversight or state gambling law.

TREE NEWS update: US federal prosecutors told Judge Katherine Polk Failla that the D.C. Circuit’s September 25 ruling upholding Bitcoin Fog founder Roman Sterlingov’s conviction supports trying Tornado Cash defendant Roman Storm in New York. The appeals court found Washington, D.C. had jurisdiction because agents deposited about $250 in bitcoin into Bitcoin Fog from the district. Prosecutors argued the same logic applies since user Shakeeb Ahmed accessed Tornado Cash from his Manhattan apartment.

TREE NEWS reports: TD Cowen maintained its $260 price target on Strategy (MSTR), saying shareholder dilution limits the benefit of brighter bitcoin forecasts. The broker kept its rating and target unchanged, framing dilution as a drag on the upside from higher BTC price assumptions.

TREE NEWS update: HyperEVM-based synthetic perpetuals protocol Papertrade has opened pre-deposits, with users given two days to fund accounts and create profiles. The protocol said formal trading is expected to start about one hour after the HyperEVM network upgrade completes on Oct. 10, with the exact time to be confirmed via Hyperliquid’s Discord. Papertrade uses Hyperliquid order-book BBO midpoint pricing, offers high leverage with zero slippage and no funding fees, and its PAPER token starts with zero supply.

TREE NEWS update: The Block has published the GCCI 2026 Country Profile, opening with a section on South Korea’s crypto market. The index is pitched as a shift away from demand-side measures such as trading volume, ownership and adoption toward the operating environment for crypto companies and capital. It notes a country can post large trading volume while maintaining a restrictive domestic regime.

TREE NEWS update: Ethereum co-founder Vitalik Buterin said the crypto industry must ensure its encryption is resistant to both quantum computing and AI, pointing to a shift toward “bunker mode.” The comments frame encryption hardening as a priority for the sector as advanced computing capabilities advance. Buterin did not announce a specific protocol change or timeline.

TREE NEWS reports: Riot Platforms (RIOT) shares fell 10.03% intraday to $16.64. The drop marks a sharp single-session decline for the bitcoin miner’s stock, which trades under the ticker RIOT.

TREE NEWS reports: A US government wallet holding Bitcoin seized from the Bitfinex hacker sent 12,267 BTC to a new, unlabeled address, Arkham data shows. The transfer is valued at roughly $1 billion at current prices. The coins stem from the 2016 Bitfinex exchange hack, and the destination wallet has not been identified.

TREE NEWS reports: Bitwise CEO Hunter Horsley said the failure of a Dogecoin ETF was ‘tragic,’ pointing to a gap between ETF buyers and crypto-app users. The comments came alongside Bitwise’s recent spot NEAR ETF launch. Bitwise said it is prioritizing AI and intends to do more in that area.

TREE NEWS update: Gnosis bridges have adopted a fast confirmation mechanism for Ethereum deposits, letting users and apps keep their existing workflows without any changes. The faster processing relies on different security guarantees than Ethereum finality, the project said. No further details on the mechanism or rollout were given.

TREE NEWS reports: Bitcoin has surrendered half of its September gains as day traders sell, leveraged long positions are liquidated and ETF money exits the market. The daily chart remains above its key support line, but that cushion is narrowing. The pullback marks a sharp reversal from the “Uptober” optimism that had built up around the start of the month.

TREE NEWS update: Derive said on October 8 that its V3 upgrade is live, the migration is complete and trading has resumed. The version custodies assets on Ethereum, uses ZK proofs for margin and settlement, and supports sub-millisecond order matching, no-code vault creation, and ETH and BTC hedging. Users can lend and borrow ETH, WBTC, HYPE and USDC; the community had proposed moving V2 positions to V3 and shutting down Derive Chain.

TREE NEWS reports: Bitcoin fell below $81,000, touching a near three-week low, while oil prices rose on reports that a military confrontation between the US and Iran could resume. The move came as traders priced renewed geopolitical risk into both crypto and energy markets.

TREE NEWS update: CFTC Chairman Mike Selig said the United States will no longer stand by as crypto businesses move offshore and other countries set the standards. In a post on X, Selig said the crypto industry is returning to the US, and that clear regulatory rules will help keep it there and let the US lead its development.