Core Insights - The execution of the first-ever over-the-counter cryptocurrency options trade between DBS Bank and Goldman Sachs marks a significant advancement in integrating digital assets into traditional finance [1] Group 1: Trade Details - The trade involved cash-settled Bitcoin and Ether options, designed to help both banks hedge exposures related to crypto-linked products [2] - DBS reported that its clients executed over $1 billion in crypto options and structured note trades in the first half of 2025, with trading volumes increasing nearly 60% quarter-over-quarter [4] Group 2: Institutional Demand - Goldman Sachs anticipates increased institutional demand for crypto derivatives, indicating a new phase in the evolution of digital asset markets [5] - The collaboration between DBS and Goldman Sachs lays the groundwork for an interbank crypto options market, with expectations of growing demand as financial institutions seek compliant exposure to cryptocurrencies [5][6] Group 3: Market Integration - Major crypto firms are pursuing closer integration with the US banking system, as evidenced by Crypto.com joining other firms in seeking US federal bank charters [7] - Regulatory support for cryptocurrency entities in the US is highlighted by recent political developments, including a controversial pardon related to Binance [7]

Core Insights - BitGo has announced custody support for Canton Coin (CC), becoming the first US-based qualified custodian to offer this service, which allows institutions to hold and manage CC, the native token of the Canton Network's Global Synchronizer infrastructure [1][2] Group 1: Custody Service Details - The custody service includes regulated cold-storage custody with institutional oversight, providing $250 million in insurance coverage and multi-signature protection for Canton Coin holdings [2] - Institutional clients will have access to self-custody wallets for treasury operations, along with streamlined reporting and audit tools to meet regulatory standards [2] Group 2: Institutional Adoption and Infrastructure - BitGo's Chief Revenue Officer emphasized the company's commitment to supporting institutional adoption of digital asset networks and providing meaningful utility enabled by Canton [3] - The Canton Network is designed as a privacy-enabled blockchain for regulated financial markets, with approximately 22 billion CC in circulation and over 300 participants in the ecosystem [4] Group 3: Future Plans and Expansion - BitGo plans to expand its infrastructure to support a full range of Canton Network assets, including future capabilities like withdrawal functionality, token standard integration, stablecoin support, and Go Network compatibility [7] - The Canton Foundation is seeking admission for trading in the EU, with an expected initial listing on Kraken's EU platform [5][6]

🇺🇸 NEW: BitGo adds custody support for Canton Coin, giving US institutions compliant access to the Canton Network. https://t.co/bFv1HKBXjh ...

Core Insights - BitMine Immersion Technologies has added 27,316 ETH, valued at approximately $113 million, to its corporate treasury this week, increasing its total Ethereum holdings to over 3.3 million ETH, worth around $13.2 billion, making it the largest corporate holder of Ethereum [1][4][9] Company Overview - BitMine's total Ethereum holdings have surpassed 3.3 million ETH, solidifying its position as the largest Ethereum-holding corporation and the second-largest crypto treasury overall, following Michael Saylor's Strategy [4][9] - The firm is led by Tom Lee, co-founder of Fundstrat, who has expressed an ambitious goal of accumulating 5% of Ethereum's total supply, positioning BitMine as a long-term supporter of the blockchain ecosystem [5] Institutional Support - BitMine has garnered support from notable institutional investors, including Ark Invest's Cathie Wood, Bill Miller III, Digital Currency Group, Founders Fund, Galaxy Digital, Kraken, and Pantera Capital [5] Market Perspective - Tom Lee has emphasized Ethereum's potential as a "truly neutral chain" likely to gain favor among Wall Street institutions and U.S. policymakers [6] - Despite the optimism surrounding Bitcoin's price stability due to spot Bitcoin ETFs and increased institutional participation, Lee has cautioned that Bitcoin remains susceptible to significant market fluctuations [7]

Core Insights - HBAR experienced a significant surge of 25.7% within 24 hours, rising from $0.1775 to $0.2052, driven by a trading volume increase of 182% above the daily average, coinciding with the launch of the Canary Capital spot HBAR ETF on the NYSE following SEC approval [1][2]. Market Developments - The launch of the HBAR ETF represents a milestone for institutional access to Hedera, providing regulated exposure through BitGo and Coinbase Custody, and placing HBAR alongside Bitcoin and Ethereum as institutionally tradable digital assets [2]. - The breakout for HBAR began around 06:00 on October 28, when it surpassed the $0.2060 resistance level, which had previously limited its advances, with strong buying support at the $0.2000 psychological level [3]. Technical Analysis - Key technical levels indicate mixed outlooks for HBAR, with primary support at $0.2000 and key resistance at $0.2060, alongside additional resistance zones between $0.2100 and $0.2192 [5][6]. - The recent trading session showed signs of institutional distribution, as HBAR reversed from $0.209 to $0.205, slipping below the $0.206 support level, indicating potential profit-taking by large holders [4][6]. - The analysis suggests a potential retest of the $0.200 level, which is critical for maintaining a bullish structure, with downside risk estimated at approximately 2.5% [6][8].

Core Viewpoint - Hedera (CRYPTO: HBAR) is experiencing a significant price rally ahead of the launch of its spot exchange-traded fund (ETF) on Wall Street, indicating strong market interest and potential for growth [1][3]. Group 1: Market Performance - HBAR has increased over 8% in the last 24 hours, with a trading volume exceeding $421 million, more than doubling from previous levels [2]. - In contrast, major cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have seen declines of 0.80% and 2.56%, respectively, highlighting HBAR's resilience during a market correction [2]. - The open interest in HBAR futures has surged by 29% in the last 24 hours, reflecting heightened interest from derivatives traders [2]. Group 2: ETF Launch - The upcoming launch of the Canary HBAR ETF, which will provide exposure to the HBAR token, is set to begin trading under the ticker HBR on the Nasdaq Stock Market [3]. - Canary Capital Group LLC is sponsoring the ETF, with BitGo and Coinbase acting as custodians [4]. - Prominent cryptocurrency advocate Anthony Scaramucci has expressed optimism about the ETF, describing it as "the sound of inevitability" [4]. Group 3: Trading Sentiment - More than 55% of Binance traders with open HBAR positions are betting on a price increase, as indicated by the Long/Short ratio [3]. - As of the latest data, HBAR is trading at $0.1974, reflecting an 8.63% increase over the last 24 hours [5].

Group 1 - Faraday Future's founder Jia Yueting announced on Twitter that BlackRock has increased its stake in FFAI stock by 26%, now holding 6.8 million shares [1] - QLGN has partnered with BitGo to complete the first batch of C10 Treasury allocations, with trading volume rising to approximately $300 million [1]

Core Insights - The Asian crypto landscape has significantly evolved since 2025, moving from an experimental phase to increased adoption driven by clearer policy frameworks [1] - Countries like India, South Korea, Japan, and Vietnam are leading in trading volumes, institutional investments, and retail participation [1] Company Developments - WazirX, an Indian exchange, is set to resume operations on 24 October 2025 after receiving permission from the High Court of Singapore following a successful restructuring process [3] - WazirX is offering zero trading fees across all pairs to enhance platform usage and facilitate trading for users [4] - The exchange has partnered with BitGo to enhance security measures, ensuring funds are protected with insured, institutional-grade safeguards [5] - WazirX's founder emphasized the mission to make crypto accessible to every Indian, marking the resumption of operations as a reinforcement of the company's integrity [6] - The exchange plans to distribute tokens to creditors within 10 business days and issue Recovery Tokens to settle outstanding claims [7] Industry Trends - Major Asian stock exchanges are pushing back against publicly listed crypto treasury companies, with HKEX blocking five companies from becoming Digital Asset Treasuries based on rulings regarding liquid asset limits [7]

Core Viewpoint - Qualigen Therapeutics Inc. has partnered with BitGo to enhance its cryptocurrency treasury strategy, leading to a significant surge in its stock price during after-hours trading [1][2]. Group 1: Stock Performance - Qualigen shares increased by over 60% in after-hours trading, building on a 5.37% gain during the regular trading session, closing at $3.530 [2][4]. - Year-to-date, the stock has decreased by 16.15%, but recent trends indicate a stronger price momentum in the short and medium term [4]. Group 2: Partnership Details - The partnership with BitGo allows Qualigen to manage a diversified investment across the top 10 cryptocurrencies, utilizing BitGo's over-the-counter desk [3]. - BitGo will provide custody and liquidity services for Qualigen's digital assets, ensuring they are stored in regulated cold storage with compliance protocols [3]. Group 3: Company Background - Qualigen is majority-owned by Faraday Future Intelligent Electric Inc., indicating a strategic alignment with a company in the electric vehicle sector [3].

Core Insights - Qualigen Therapeutics Inc. has announced a strategic partnership with BitGo to support its C10 treasury strategy, which aims to accumulate a market-cap-weighted basket of the world's top 10 crypto assets, excluding stablecoins [1][4]. Group 1: Partnership Details - The partnership will allow Qualigen to utilize BitGo's comprehensive treasury management services, which include access to deep liquidity and secure custody solutions [2][3]. - BitGo's OTC desk will facilitate efficient investments across a diversified basket of 10 digital assets, marking a significant advancement in Qualigen's treasury strategy [2][4]. Group 2: Security and Compliance - Qualigen's treasury assets will be stored securely in regulated cold storage by BitGo, adhering to high security standards and compliance protocols [3][4]. - BitGo's expertise in digital assets will simplify the complexities associated with institutional digital asset adoption, enabling Qualigen to focus on sustainable growth and digital integration [3][4]. Group 3: Strategic Vision - The partnership reflects Qualigen's commitment to financial resilience and leadership in the evolving digital economy, as stated by Co-CEO Jerry Wang [4]. - The $30 million multi-asset allocation signifies growing enterprise confidence in adopting a digital-first treasury strategy [4].