Flash News

TREE NEWS update: FinCEN is withdrawing a proposal that would have designated crypto mixing a “primary money laundering concern” under the PATRIOT Act. The Treasury unit cited concerns over a “chilling effect on legitimate activity” in pulling the rule, which would have imposed heightened recordkeeping and reporting duties on mixing services.

TREE NEWS reports: Weak US jobs data has narrowed expectations for another Federal Reserve rate hike in October, giving Bitcoin relief as investors keep leaning into the debasement trade. The cryptocurrency is heading for its best quarter since 2017, though Treasury yields at 5% threaten to extend that run.

TREE NEWS update: Umia raised $6.11 million through a seven-day auction of its UMIA token, drawing ten funds and nearly 700 individual bidders. The token sale valued the project at an $18 million fully diluted valuation. Umia is pitching the raise as a way to help crypto projects launch their own tokens.

TREE NEWS update: The CFTC is seeking public comment on a framework that would create a new federal license for crypto exchanges, with leverage offerings serving as the trigger for federal oversight. The proposal would bring crypto trading venues under the agency’s supervision.

TREE NEWS reports: Bitcoin fell below 85,000 USDT and was last trading at 84,987.5 USDT, down 0.29% over the past 24 hours. The move puts BTC just under the 85,000 USDT level on the exchange’s price feed.

TREE NEWS reports: Bitcoin has flashed a second, stronger golden cross, a classic bullish signal suggesting the trend is built to last, even as the rally keeps bumping into the same wall. The signal follows an earlier golden cross and points to sustained upward momentum.

TREE NEWS reports: NEXTPredict’s founder said nobody was serving the enormous audience for prediction markets, speaking on a program that placed reporters from CNBC and CNN beside the exchanges two weeks before the midterms put the sector on air. The comments frame prediction markets as an underserved market ahead of the US midterm elections.

TREE NEWS update: The U.S. Commodity Futures Trading Commission issued an advance notice of proposed rulemaking to build a comprehensive, tailored regulatory framework for retail crypto asset trading. Chairman Michael Selig said the move responds to President Trump’s directive to use the CFTC’s existing statutory authority to construct federal crypto market structure. Selig said the effort aims to preempt fraud schemes like the FTX collapse rather than prosecute after the fact. The agency is seeking public comment and wants a designated contract market subcategory for crypto.

TREE NEWS update: CFTC Chairman Michael S. Selig said the agency is proposing its first set of crypto market rules, Regulation CTX and Regulation CAM, after Congress failed to pass the Clarity Act. The rules would give CFTC-registered exchanges a federal framework tailored to crypto assets. Unlike the Clarity Act, they would not force crypto assets to trade on CFTC-registered platforms, since the agency lacks authority to impose that without legislation, but exchanges may opt in.

TREE NEWS reports: Crypto exchanges liquidated $216 million in futures contracts over the past 24 hours, CoinGlass data shows, with $91.76 million in long positions and $125 million in shorts wiped out. Bitcoin accounted for $96.12 million of the total and Ether $29.96 million. The largest single liquidation, worth $11.85 million, occurred on Binance’s BTCUSDT pair.

TREE NEWS update: FinCEN withdrew its 2020 proposal to require banks and money services businesses to report on unhosted crypto wallets, and rescinded its 2023 finding that crypto mixing is a primary money laundering concern. The agency said it will continue monitoring mixers and may take action again in the future.

TREE NEWS reports: US spot bitcoin ETFs took in a net 1,918 BTC, worth $164.22 million, on October 5, with a seven-day net inflow of 2,645 BTC ($226.41 million). Ether ETFs moved the other way, posting a single-day net outflow of 23,533 ETH ($63.56 million) and a seven-day net outflow of 52,114 ETH ($140.75 million).

TREE NEWS reports: Bitcoin failed to hold its highest weekly close in eight months, with the level turning into resistance at the start of US trading on Monday. The market’s inability to break above that point kept the largest cryptocurrency pinned below its newly established weekly high.

TREE NEWS update: Strive added 2,000 bitcoin in its largest purchase since June, pushing its total holdings to nearly 30,000 BTC and closing in on MARA in the race among the largest public bitcoin treasuries. The buy is the company’s biggest in roughly five months.

TREE NEWS update: Bitmine purchased another $41 million of Ethereum, pushing its holdings past 6 million ETH — 4.9% of the total supply and 99% of the way to its “Alchemy of 5%” goal. Chairman Tom Lee said Ethereum is “dwarfing” other macro assets.

TREE NEWS reports: Strategy estimated a $20.9 billion bitcoin gain for the third quarter, reversing its second-quarter loss, with the preliminary figure including a roughly $4.12 billion tax benefit. The company added 334 BTC and spent $176.3 million buying back STRC last week.

TREE NEWS reports: Ether fell below $2,700 on October 5, trading at $2,699.99 per token. The move leaves ETH up 0.05% over the past 24 hours, holding just under the round-number level after briefly dipping beneath it.

TREE NEWS reports: SpaceX shares rose 5.1% to their highest level since early July. The move marks a fresh peak for the private space company’s valuation in the secondary market. No further details were disclosed.

TREE NEWS reports: DeFi Development Corp. (DFDV) said preliminary third-quarter estimates show its net asset value per share more than doubled as its Solana treasury grew to 2.56 million SOL. The company disclosed the figures in a preliminary Q3 update.

TREE NEWS reports: Surveys by Visa and CoinShares found 46% of Asia-Pacific respondents may use stablecoins within five years, with 16% having used them in the past 12 months, while 66% know of stablecoins but only 6% understand how they work. CoinShares found most wealthy investors across seven markets already hold digital assets, ranging from 54% in Sweden to 70% in the US, UK and Germany, with allocations near 10% of portfolios.