Flash News

TREE NEWS reports: Qubic Wallet may have leaked most of its users’ private keys. The private keys can reportedly be reconstructed through six connections. No further details on the scope of the exposure or the number of affected wallets were provided.

TREE NEWS reports: The attacker behind Drift Protocol deposited 25,700 ETH worth $61.56 million into Tornado Cash over the past two hours, ending a two-month lull in moving the more than $270 million stolen in ETH. The address still holds 81,864 ETH valued at $195 million.

TREE NEWS update: BlackRock filed for the iShares Bitcoin Managed Protection ETF, which would use options on its existing IBIT fund to limit losses in exchange for giving up some upside. The filing came as IBIT drew $665 million in a single day.

TREE NEWS update: South Korean crypto exchange Upbit will list the MPLX token on its Korean won market, with trading set to begin at 18:30 local time on October 20. The exchange disclosed the listing in an official announcement. Upbit is one of South Korea’s largest crypto trading venues.

TREE NEWS reports: Lido engineering lead Dima Gusakov warned that delegated staking protocols face front-running attacks during Ethereum’s Glamsterdam hard fork transition. Glamsterdam introduces builder deposits using 0xB0-prefixed withdrawal credentials that share the deposit queue with validator deposits around the fork, letting malicious node operators capture staker funds into their builder accounts and preventing the corresponding validators from activating. The fix proposal, consensus-specs #5735, was closed as “not planned,” so staking protocols must run their own pre-deposit checks.

TREE NEWS reports: JPMorgan has included Bitcoin in its long-term capital market outlook for the first time, projecting the cryptocurrency will outperform US stocks and gold over the next decade. The bank cautioned that Bitcoin’s volatility and unstable correlations limit its role in investment portfolios.

TREE NEWS reports: Barclays and Goldman Sachs said the selloff in CoreWeave’s roughly $1.5 billion of unsecured bonds, yielding about 15% with CDS spreads above 1,000 basis points, resembles the 2023 Silicon Valley Bank panic rather than a systemic credit collapse. Barclays’ Ajay Rajadhyaksha noted the notes sit behind about $35 billion in total debt, while Goldman argued the unsecured market no longer reflects CoreWeave’s true funding costs, estimated at 800-900 basis points.

TREE NEWS update: 21Shares listed two physically backed exchange-traded products in Europe on October 20, one tracking Lighter (LIT) and the other Venice Token (VVV), both carrying a 2.50% fee. The Lighter ETP trades as LIHT on Germany’s Xetra in euros and dollars, while the Venice Token ETP trades as VENC on Switzerland’s SIX in dollars. Investors can hold the products through ordinary brokerage accounts without buying, custoding or managing the tokens themselves. Lighter is a zero-knowledge decentralized perpetuals platform and Venice a privacy-focused AI platform.

TREE NEWS update: The CFTC argued in an Oct. 16 court filing that CME’s crypto futures volume grew by 621,570 contracts between May and September, using the exchange’s own data to rebut claims that perpetual futures cause market harm. The regulator also cited CME’s CEO telling investors that customers have not asked for perps, as the agency defends its approach to crypto derivatives regulation.

TREE NEWS update: Binance Wallet launched a CopyTrade feature that lets users follow wallets selected from a leaderboard or entered manually, setting buy amounts and take-profit and stop-loss parameters for automatic execution. Users can start or stop copying at any time, and the feature supports tokens including meme coins and bStocks.

TREE NEWS update: 1inch is winding down its 1inch Card program, closing new user registrations while existing cards and accounts remain usable for now. Holders are advised to withdraw or spend card balances by Dec. 18 at the latest. Funds are not held by 1inch but sit in e-wallets issued by licensed e-money institution Monavate, with account closures, KYC and personal data handled by card service provider Crypto Life.

TREE NEWS reports: The attacker behind Drift Protocol moved at least 13,400 ETH, worth about $32 million, into Tornado Cash after two months of inactivity, on-chain tracker Onchain Lens reported on October 20. The wallet still holds roughly $224.59 million in tracked assets, including 93,965 ETH (about $224.04 million), 477,375 USDY (about $549,000) and 1.33 SOL (about $138). The transfers may be intended to obscure the funds’ trail.

TREE NEWS update: Binance will remove four spot trading pairs — BONK/FDUSD, JUP/FDUSD, LDO/FDUSD and WAL/BNB — at 11:00 (UTC+8) on Oct 23, the exchange announced. Trading in those pairs will stop at that time. The announcement did not give a reason for the delistings.

TREE NEWS reports: Uniswap’s total value locked on BNB Smart Chain reached about $437 million, up 104% over the past seven days and 213% over 30 days, DefiLlama data show. BSC’s network-wide TVL stood at roughly $5.93 billion, while decentralized exchange volume on the chain hit about $6.26 billion over the past week, a 37.95% increase from the prior seven days.

TREE NEWS update: BlackRock has filed for a new Bitcoin ETF, the iShares Bitcoin Managed Protection ETF, which would use options on IBIT to limit each tranche’s starting loss to about 10% while capping potential gains. The proposed structure offers downside protection at the cost of a ceiling on upside.

TREE NEWS update: BlackRock has filed for a third Bitcoin exchange-traded fund that would use options to limit potential losses and gains, adding a new strategy to its existing Bitcoin and Ether ETF lineup. The proposed fund does not include Solana or XRP exposure. The filing marks BlackRock’s latest expansion of its crypto ETF offerings.

TREE NEWS update: Revolut’s UK operations suffered a widespread outage on October 20, with 30 services marked “partially unavailable” on its official status page. Affected personal services include registration, login, card payments, top-ups, transfers, ATM withdrawals, currency exchange, stock trading, crypto and identity verification. Business registration, transfers, the Business API, merchant payments and the sandbox environment were also impacted. Revolut said its team is investigating and will update the status page once the issues are resolved.