Gate Ventures Acquires ADEN to Expand Web3 Derivatives Ecosystem. Photo by BeInCrypto Gate Ventures, the venture capital arm of the Gate Group, has announced the acquisition of ADEN, a decentralized perpetual exchange (Perp DEX). The transaction represents a strategic step in expanding Gate’s presence in decentralized derivatives trading and supports the company’s ongoing “All in Web3” initiative, which focuses on infrastructure innovation and ecosystem development. The integrated ADEN platform is expect ...

Core Insights - Coinbase is evolving from a traditional crypto exchange into a comprehensive ecosystem that supports the industry's core infrastructure by 2025 [1] - Despite a pro-regulation stance that may have affected its market ranking, Coinbase remains a significant player in the crypto space, generating over $2.4 billion in 24-hour trading volume as of October 25, which is approximately 10 times less than Binance and Gate [2] - Analysts are cautiously optimistic about Coinbase's Q3 2025 earnings, expecting a year-on-year revenue growth of 44% to over $1.76 billion and a net income increase of 150% to over $400 million [5] Company Performance - Coinbase's trading volume is significantly lower than competitors, but its compliance efforts help mitigate risks associated with wash trading, which has hindered the approval of spot Bitcoin and Ethereum ETFs [2] - The company has expanded its offerings to include popular Solana meme coins, reflecting the growing demand for diverse crypto services [3] - The upcoming Q3 2025 earnings report is highly anticipated, especially following the recent earnings releases from major tech companies [4] Market Dynamics - Rising cryptocurrency prices are expected to drive trading revenue, alongside income from subscriptions and institutional services like staking and custody [6] - Monthly transacting users (MTUs) are projected to exceed 8.5 million, indicating a potential revival in retail trading activity [6] - In Q2 2025, Coinbase's MTUs fell short of estimates by 10%, suggesting that a rebound in Q3 could signal improved market conditions [7]

Defunct Bitcoin exchange Mt. Gox started to repay creditors two years ago, more than a decade after the company went bankrupt. But on Monday, the deadline to complete the return of billions of dollars worth of Bitcoin was pushed back by a full year to October 31, 2026.  Around 19,500 creditors have been repaid so far, but many others are waiting in the wings for funds they lost all the way back in 2014. The first batch of repayments in 2024 led to a sharp sell-off, as the refunded Bitcoin was immediately so ...

Core Insights - Citigroup and cryptocurrency exchange Coinbase are collaborating to develop digital asset payment solutions for Citigroup's institutional clients, with plans to expand these offerings to global clients in the future [1] Group 1 - The collaboration aims to enhance payment solutions in the digital asset space [1] - Citigroup's focus is on serving its institutional clients initially, indicating a targeted approach to market entry [1] - Future expansion plans suggest a strategic vision for global reach in the digital asset payment solutions market [1]

Core Insights - Coinbase Global (COIN) has acquired Echo in a cash-stock transaction valued at $375 million, enhancing its capabilities in onchain capital raising [1][7] - This acquisition follows COIN's previous purchases of Deribit and Liquifi, positioning the company as a comprehensive service provider in the crypto space [1][3] - COIN aims to offer an all-inclusive solution for crypto projects, covering everything from launch to fundraising and secondary trading [1][7] Acquisition Strategy - COIN is focusing on inorganic growth through strategic acquisitions to broaden its capabilities and diversify revenue streams [3][7] - The acquisition of Echo complements the earlier acquisition of Liquifi, which allows COIN to support builders from the start of their journey to fundraising [1][3] Market Positioning - COIN believes in the future of finance being on-chain and is actively enhancing the utility of crypto through its Base platform [2] - The company is positioning itself as a leader in the digital asset market by accelerating entry into growth verticals through these acquisitions [3] Peer Comparison - Robinhood Markets (HOOD) is also pursuing growth through strategic acquisitions, expanding its global crypto reach and enhancing institutional services [4] - Interactive Brokers Group (IBKR) has made strategic acquisitions to improve its technology and client network, strengthening its competitiveness [5] Financial Performance - COIN's shares have increased by 42.8% year to date, outperforming the industry [6] - The company's price-to-earnings ratio stands at 56.31, significantly above the industry average of 24.14, indicating an expensive valuation [9] Earnings Estimates - The Zacks Consensus Estimate for COIN's third-quarter and fourth-quarter 2025 EPS has seen upward adjustments of 3% and 0.9%, respectively [10] - Revenue estimates for 2025 and 2026 indicate year-over-year increases, although the EPS estimate for 2026 shows a decline [12]

Core Points - Mt. Gox's rehabilitation trustee has postponed creditor repayments to October 31, 2026, due to many creditors not completing necessary procedures [1] - The Tokyo court approved the extension, which is part of a lengthy restitution process for the defunct exchange [1][4] - Approximately 19,500 creditors have received repayments, while around 24,000 creditors are estimated to be involved in the recovery of roughly $9 billion in Bitcoin and Bitcoin Cash [2][4] Summary by Sections Repayment Process - The repayment process has been significantly delayed, with multiple extensions since Mt. Gox's collapse in 2014 [4] - The latest extension was announced in September 2023, moving the deadline from October 2023 to October 2024 [5] - The rehabilitation trustee indicated that most base and early repayments for verified creditors have been completed, but many remain unpaid [2] Financial Status - Mt. Gox currently holds approximately 34,689 BTC, valued at nearly $4 billion at current prices [2] - The efforts to recover lost funds began in 2021 when the Tokyo District Court approved a civil rehabilitation plan [4] Market Impact - The announcement of repayment timelines has previously triggered market reactions, including a selloff in Bitcoin prices [6]

Core Insights - Binance is exploring strategic options to re-enter the U.S. market following the presidential pardon of founder Changpeng Zhao, considering consolidating its U.S. affiliate or allowing direct access for American investors [1][7] - The pardon, granted after Zhao's guilty plea for inadequate anti-money laundering controls, raises concerns over conflicts of interest, particularly in light of Binance's recent $2 billion deal with Trump's family crypto firm [2][6] - Zhao's net worth of $61.4 billion and his influence over Binance's blockchain ecosystem, which holds approximately $8.7 billion in assets, positions him as a significant player in the crypto market [5] Strategic Developments - The presidential pardon removes legal barriers for Zhao, enabling him to re-engage with Binance ventures and potentially reshape the company's operations in the U.S. [4] - Binance's current U.S. operations are limited, capturing less than 1% of U.S. Bitcoin trading volume compared to nearly 40% of the global market share held by its international platform [7] - The company recently launched a stablecoin project for World Liberty Financial, which is expected to generate tens of millions annually, further intertwining its operations with Trump's family interests [6]

The Madras High Court has recognized cryptocurrency as property capable of being held in trust, granting relief to a WazirX user whose XRP funds were frozen following the exchange’s 2024 hack. The ruling could set a precedent for how Indian courts handle user claims against exchanges operating under foreign jurisdictions. Justice N. Anand Venkatesh’s Oct. 25 order directed Zanmai Labs, WazirX’s Indian operator, to furnish a bank guarantee worth roughly 9.56 lakh (around $11,500), equivalent to the petiti ...

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 Insights - JPMorgan analysts estimate that a new Base token could be valued between $12 billion and $34 billion, potentially boosting Coinbase stock by 14% to $404 per share by December 2026 [1][2]. Group 1: Base Token and Market Potential - Base is a layer 2 blockchain developed by Coinbase, with a DeFi ecosystem valued at $5 billion, making it the sixth-largest among all blockchains and the largest among Ethereum's layer 2 solutions [1]. - If Coinbase retains 40% of the Base token supply, it could represent a market opportunity worth $4 billion to $12 billion for the exchange [2]. Group 2: Strategic Moves and Earnings - Coinbase could enhance its earnings by reducing rewards for most users and concentrating on Coinbase One customers, potentially increasing earnings by $347 million annually, or $1 per share, at current interest rates [3]. - The threat from decentralized exchanges (DEXes) is diminishing, allowing Coinbase to benefit from integrating DEX technology into its Base app [4]. Group 3: Integration and Future Outlook - Coinbase plans to integrate decentralized exchanges into its mobile app, enabling users to trade a wider range of crypto assets beyond the current offerings [4][5]. - Analysts expect Coinbase to monetize access to DEXes through Base sequencer fees, enhancing its revenue streams [5].