Everything web3, crypto, defi, degen
In brief Whales are dumping SOL, AAVE, and ASTER, moving over $120M in assets to exchanges. The sell-off contributed to the crypto market cap dropping by over 5% as altcoins posted losses on the day. One entity took a $5M loss on ASTER, signaling a rush to exit rather than hold through volatility. Whales are…
October 16, 2025 | Asset Listings We’re thrilled to announce that RHEA is available for trading on Kraken! Funding and trading RHEA trading is live as of October 16, 2025. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’. Make sure to deposit your tokens…
In brief The Financial Stability Board’s review of nearly 40 jurisdictions found “significant gaps and inconsistencies” in crypto regulations that threaten financial stability. A separate European Banking Authority report revealed crypto firms engaging in regulatory “forum shopping” across EU member states. Cross-border cooperation remains “fragmented, inconsistent, and insufficient,” with authorities struggling to share information due…
We’re excited to announce we have acquired Small Exchange, a CFTC-licensed Designated Contract Market (DCM) from IG Group for $100 million. This move lays the foundation for us to launch a fully U.S.-native derivatives product suite, creating a deep, sophisticated onshore venue in the world’s largest capital market. The acquisition of Small Exchange advances our…
In brief Crypto exchange Kraken has purchased U.S. contract market Small Exchange for $100 million from British finance group IG. The deal gives Kraken a license to offer derivatives trading in the U.S. for the first time. Kraken opened up futures trading for U.S. customers in July, amid positive regulatory changes in the U.S. Kraken,…
In brief More than $19 billion worth of crypto positions were liquidated on Friday amid a flash crash. Market experts believe that increased amounts of leverage in crypto could be creating systemic risk, with leverage cascades potentially becoming a more common occurrence. It comes as Hyperliquid and Aster have made high levels of leverage more…
In brief Shares in Ethereum treasury firm ETHZilla fell more than 5% after it announced a reverse 1-for-10 stock split. Outstanding shares will shrink from around 160 million to 16 million when the split is effective next week. ETHZilla holds around 102,000 ETH valued above $400 million. Shares in publicly traded Ethereum treasury firm ETHZilla…
In brief Tether paid $299.5 million to settle Celsius Network bankruptcy claims, far less than the nearly $4.5 billion in Bitcoin originally sought. Celsius claimed that Tether improperly liquidated Bitcoin before its bankruptcy without proper notice; Tether said it acted lawfully. Former Celsius CEO Alex Mashinsky was sentenced to 12 years in prison for fraud…
In brief Bitcoin dropped from $121,000 to $106,000 on Friday after Trump announced 100% tariffs on China, triggering $19 billion in liquidations within 24 hours. The crash hit leveraged traders on centralized exchanges hardest, with 1.6 million positions liquidated as the timing—after market close—left crypto as the only outlet for investor reaction. Leverage amplifies both…
In brief Binance said its systems remained operational during the $19 billion market-wide liquidation, attributing reports of tokens hitting zero to a display error. Affected assets that depegged on the exchange included USDe, BNSOL and wBETH. Analysts described the payout as rare and likely aimed at restoring confidence in the post-CZ era. Crypto exchange Binance…
