CRYPTO
Crypto Briefing
09 Oct 2026 · 20:45
NFL asks Supreme Court to let states regulate prediction markets
The league backs New Jersey’s appeal involving Kalshi, citing risks to game integrity. The NFL urged the US Supreme Court on October 8 to hear New Jersey’s appeal seeking state oversight of prediction markets, …
The league backs New Jersey’s appeal involving Kalshi, citing risks to game integrity.
The NFL urged the US Supreme Court on October 8 to hear New Jersey’s appeal seeking state oversight of prediction markets, Bloomberg reported.
In a filing in Flaherty v. KalshiEX, 26-299, the league warned that limited federal oversight could enable insider trading and undermine game integrity.
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The dispute centers on whether event contracts qualify as swaps under the Dodd-Frank Act, placing them under exclusive Commodity Futures Trading Commission authority, or as gambling subject to state regulation. New Jersey and the NFL support the latter position.
President Donald Trump said in May that he supported the CFTC as the sole regulator. Kalshi did not immediately respond to Bloomberg’s request for comment.
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The court could decide as early as December whether to hear the appeal. Seeking the administration’s views would likely delay consideration until the 2027-28 term, according to Bloomberg.
CRYPTO
ZyCrypto
09 Oct 2026 · 20:45
Bitcoin to $100K in 2026? Prediction Markets Say 40% Chance
Bitcoin’s odds of recapturing the all-important $100K milestone are currently low, despite the ongoing price recovery setup. The largest cryptocurrency by market capitalization is trading around $84k, down about 2% in the last 24 …
Bitcoin’s odds of recapturing the all-important $100K milestone are currently low, despite the ongoing price recovery setup. The largest cryptocurrency by market capitalization is trading around $84k, down about 2% in the last 24 hours.
Prediction markets now assign a 40% probability that Bitcoin will reach the milestone. Many expect a return to that level to mark the shift from a long-term bear market to a long-term bull market.
Crypto analyst Ted Pillows tweeted regarding the development:
Image Source: X
Ted said the odds of BTC reaching $100k in 2026 are even lower. He believes that, based on two key metrics, spot demand and rising leverage, BTC is unlikely to make a decisive move until the end of the year, even though the last quarter is typically the most bullish.
He predicted that the current setup will be followed by a price correction and sideways trading around a previous support level. Eventually, bulls will muster enough momentum to make the decisive move.
For his part, Ted isn’t entirely bearish on the cryptocurrency right now but believes the digital currency will likely absorb some downward pressure before going on the offensive again. His view contrasts with some analysts who expect a strong end to 2026, which will prime the market for a major early 2027 bull market. They argue that the last three months have been primarily bullish over the years and that is where the market is heading.
The Future
The $100k debate is heating up because of the ongoing “Uptober” price action, which has historically favored upside. However, the first week of the month has been incredibly slow and somewhat bearish, with nothing to indicate major bullish activity. The furor is dying down, and if the cryptocurrency doesn’t post any bullish price action within a week or so, the market will come under massive pressure.
The Uptober narrative is also losing ground because, in the instances where the 10th month has been bullish, September has been largely bearish. This time, September was bullish, and now October is going in the other direction. In any case, the next three weeks will be eventful and are expected to draw traders’ attention.
CRYPTO
Crypto Briefing
09 Oct 2026 · 20:45
Bitcoin long liquidations hit largest level since early June
More than 14,505 BTC in leveraged long bets were wiped out as Bitcoin slipped below $84,000 Leveraged Bitcoin bulls just had their worst stretch in roughly four months. More than 14,505 BTC, worth about …
More than 14,505 BTC in leveraged long bets were wiped out as Bitcoin slipped below $84,000
Leveraged Bitcoin bulls just had their worst stretch in roughly four months. More than 14,505 BTC, worth about $1.17 billion, has been liquidated from long positions, according to data shared on X.
That marks the largest long liquidation since early June 2026.
How the flush unfolded
The damage came during a volatile stretch from October 6 to 8, 2026. Over that window, Bitcoin dropped approximately $1,600 and fell below the psychologically important $84,000 level.
Lows during the move ranged between $82,700 and $83,800.
The sharpest moment hit on October 6. Bitcoin slid from approximately $85,500 to near $83,800 in about 15 minutes.
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That quick drop set off around $400 million in long liquidations within a single hour. More than 100,000 traders were caught up in the wipeout.
Counting the damage
Across crypto derivatives, liquidations reached approximately $555 million within 24 hours, mostly from longs. Some estimates put the figure between $696 million and $1.02 billion over broader 24-hour periods. The X data tallies about $1.17 billion in long liquidations alone.
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Live trackers including ByKaranteli and CoinGlass indicated that long positions accounted for over 90% of liquidation totals.
The action concentrated on the biggest derivatives venues. Binance, Hyperliquid, and Bybit were the leading platforms during the period, with Binance noted for significant BTCUSDT orders.
Big, but not historic
Context matters here. A billion-dollar flush sounds dramatic until you compare it with the October 2025 liquidation cascade.
That event surpassed $19 billion in liquidations.
What this means for traders
Several analyses framed the move as a mechanical leverage flush rather than a structural deleveraging.
Open interest, which measures the total value of outstanding derivatives contracts, still sits around $150 billion. It saw only modest daily declines after the selloff.
Funding rates also remained positive in several analyses. Positive funding means long holders are paying shorts to keep their positions open, a sign that bullish leverage remains the dominant trade.
CRYPTO
CryptoSlate
09 Oct 2026 · 20:45
Bitcoin’s slide below $81,000 exposes why a Fed pause may not save the crypto market
Bitcoin slid below $81,000 on Oct. 8, with an intraday low near $80,800, even as traders expect the Fed to hold in October. The September FOMC minutes, released Oct. 7, said most participants viewed …
Bitcoin slid below $81,000 on Oct. 8, with an intraday low near $80,800, even as traders expect the Fed to hold in October. The September FOMC minutes, released Oct. 7, said most participants viewed another rate increase by year-end as probable and left decis… Bitcoin slid below $81,000 on Oct. 8, with an intraday low near $80,800, even as traders expect the Fed to hold in October.
The September FOMC minutes, released Oct. 7, said most participants viewed…
CRYPTO
Biztoc.com
09 Oct 2026 · 20:45
Crypto And The Midterms: What It Will Take To Reach $100k Bitcoin
The outlook for bitcoin and the crypto market is looking up despite the Clarity Act setback as the CFTC and SEC step in with regulations. The post Crypto And The Midterms: What It Will …
The outlook for bitcoin and the crypto market is looking up despite the Clarity Act setback as the CFTC and SEC step in with regulations.
The post Crypto And The Midterms: What It Will Take To Reach $100k Bitcoin appeared first on Investor's Business Daily. The outlook for bitcoin and the crypto market is looking up despite the Clarity Act setback as the CFTC and SEC step in with regulations.The post Crypto And The Midterms: What It Will Take To Reach $…
CRYPTO
Crypto Briefing
09 Oct 2026 · 20:45
EDX Markets partners with VerifiedX to bring tokenized Bitcoin to institutional spot trading
The Citadel-backed exchange will list vBTC for institutional clients and join the VerifiedX network as a validator EDX Markets, the institutional crypto exchange backed by Citadel Securities, Virtu Financial and Fidelity Digital Assets, is …
The Citadel-backed exchange will list vBTC for institutional clients and join the VerifiedX network as a validator
EDX Markets, the institutional crypto exchange backed by Citadel Securities, Virtu Financial and Fidelity Digital Assets, is adding a new kind of Bitcoin to its menu. The firm announced a partnership with VerifiedX on October 8, 2026, to launch institutional spot trading of Verified Bitcoin, or vBTC, on its US trading platform.
EDX isn’t simply listing the token. It’s also signing up to help run the network behind it, which makes this less of a listing and more of a working relationship.
What EDX and VerifiedX are actually doing
The core of the deal is straightforward. Institutional clients on EDX will be able to buy and sell vBTC in the spot market, meaning trades for immediate delivery rather than futures or other derivatives.
vBTC is a tokenized form of Bitcoin built on VerifiedX’s layer-2 protocol. According to VerifiedX, each vBTC is backed one-to-one by actual Bitcoin. The company describes the asset as non-synthetic and programmable, with instant finality and on-chain verifiability.
A key selling point is custody. VerifiedX says the underlying Bitcoin stays in self-custodial addresses, and the company has positioned its product around native redemption without relying on synthetic wrappers.
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The partnership also gives investors a route to redeem vBTC back into native Bitcoin.
EDX steps into validation and governance
The more unusual piece of the agreement is EDX’s second role. The exchange will act as a validator on the VerifiedX network, confirming transactions and keeping the blockchain honest. The role also gives EDX a stake in the governance of the platform.
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The partnership aims to support a range of institutional strategies. These include Bitcoin price discovery, liquidity provision, treasury management, lending and payments.
Who these two companies are
EDX Markets was founded in 2022. It offers centralized clearing and non-custodial settlement for institutional clients, a structure designed to keep the exchange from holding customer assets directly. Its backers include Citadel Securities, Virtu Financial and Fidelity Digital Assets.
VerifiedX raised $15 million in financing in September 2026 and has custody arrangements in place with BitGo.
Jay Pollak, Head of Strategy at VerifiedX, has framed the partnership around a broader infrastructure gap. He argued that Bitcoin needs more complete infrastructure to expand its usefulness beyond being a financial abstraction that mostly sits still.
What this means for institutions and the market
For institutional investors, the pitch is optionality. A programmable, one-to-one backed version of Bitcoin traded on a regulated-style venue opens doors to lending, treasury operations and liquidity provision without abandoning the underlying asset.
EDX’s validator role is worth watching. If an exchange backed by major Wall Street names takes part in network validation and governance, other trading platforms may consider similar arrangements. An exchange that both lists an asset and helps govern its network occupies two roles at once, and observers will likely pay attention to how EDX balances them.
For VerifiedX, the deal arrives weeks after its $15 million raise and adds a well-connected distribution partner to its BitGo custody relationship.
CRYPTO
Biztoc.com
09 Oct 2026 · 20:45
Strategy shareholders face dilution drag despite brighter bitcoin forecasts, TD Cowen says
TD Cowen kept its $260 price target on Strategy (MSTR) as dilution limits the benefit of higher bitcoin forecasts. TD Cowen kept its $260 price target on Strategy (MSTR) as dilution limits the benefit …
TD Cowen kept its $260 price target on Strategy (MSTR) as dilution limits the benefit of higher bitcoin forecasts. TD Cowen kept its $260 price target on Strategy (MSTR) as dilution limits the benefit of higher bitcoin forecasts.
This story appeared on theblock.co, 2026-10-08 17:18:24.
CRYPTO
Biztoc.com
09 Oct 2026 · 20:45
Clarity Act Sponsor Says SEC, CFTC Crypto Rules Cannot Replace Legislation
House Financial Services Committee Chairman French Hill said the Securities and Exchange Commission and Commodity Futures Trading Commission cannot provide the regulatory certainty cryptocurrency markets need through administrative rulemaking alone. Hill ackn… House Financial …
House Financial Services Committee Chairman French Hill said the Securities and Exchange Commission and Commodity Futures Trading Commission cannot provide the regulatory certainty cryptocurrency markets need through administrative rulemaking alone. Hill ackn… House Financial Services Committee Chairman French Hill said the Securities and Exchange Commission and Commodity Futures Trading Commission cannot provide the regulatory certainty cryptocurrency mar…
CRYPTO
Crypto Briefing
09 Oct 2026 · 20:45
Lawrence Wong warns the AI tech rally will eventually face a correction
Singapore's prime minister says the AI chip boom is powering growth, but urges the country to use the good times to prepare for the turn Singapore Prime Minister Lawrence Wong has a message for …
Singapore's prime minister says the AI chip boom is powering growth, but urges the country to use the good times to prepare for the turn
Singapore Prime Minister Lawrence Wong has a message for anyone riding the global AI trade: enjoy it, but don’t get attached.
Speaking at the Forbes Global CEO Conference in Singapore on October 8, 2026, Wong said the worldwide tech rally will eventually run into a market correction. It’s an unusual thing to hear from a leader whose economy is currently one of the rally’s beneficiaries.
What Wong actually said
Wong’s core argument was simple. The AI-driven surge in tech has been good for economic growth, but bubbles have an expiration date.
“No boom is indefinite.”
His advice was to make the most of the current stretch of strong external demand. That means using the window to build up capabilities, pull in investment and create better jobs before the momentum fades.
Wong also pointed to where the benefits are showing up. Demand for AI chips has strengthened Singapore’s semiconductor industry. That boost has spilled over into related sectors, including logistics and professional services.
Why Singapore has skin in the chip game
Singapore accounts for roughly 10% of global semiconductor production. For a city-state of its size, that is an outsized slice of one of the world’s most strategically important industries.
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Wong name-checked two of the heavyweights operating there: GlobalFoundries and Micron. Both produce memory and specialty chips that are in high demand right now.
The economic payoff is already visible in the official numbers. Singapore has revised its GDP growth forecast for the year upward to a range of 4.5% to 5.5%.
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The upgrade was credited to strong non-oil exports, driven mainly by the semiconductor sector. So the country’s improved outlook is tied pretty directly to the AI chip cycle.
That is the tension at the heart of Wong’s remarks. The same force propping up this year’s forecast is the one he expects to cool off at some point.
The labor question
Wong didn’t limit his comments to markets. He also addressed what AI means for workers.
He emphasized Singapore’s tripartite model, a cooperation framework between government, employers and unions. The idea is that all three sides work together so workers share in the gains as technology reshapes industries.
One distinction in his framing stood out. The priority is protecting workers, not protecting every individual job.
Wong called for proactive policy measures to deal with AI-related disruption. He also stressed making sure the economic gains are distributed fairly, rather than pooling at the top of the chain.
What this means
For investors, the most interesting part of Wong’s comments is who said them. This isn’t a short seller or a contrarian fund manager calling the top. It’s the leader of a country that directly benefits from AI chip demand, openly planning for the day that demand cools.
Notably, Wong offered no timeline. He said a correction will come eventually, not that one is imminent.
For Singapore specifically, the exposure cuts both ways. A roughly 10% share of global semiconductor production is a major strength while chip demand is surging. It also means a downturn in that demand would land with real weight on the economy, from the fabs to the logistics and services firms that grew alongside them.
That is likely why Wong’s emphasis falls on capabilities and investment rather than simply riding the cycle. If the country uses the boom to deepen its skills base and attract long-term commitments, it has more to fall back on when the cycle turns.
CRYPTO
Crypto Briefing
09 Oct 2026 · 20:45
USDT’s grip on Asia-Pacific stablecoin payments loosens to 91%
A Ripple-commissioned CoinDesk Research report finds Tether's share slipping as compliance-focused stablecoins like RLUSD gain ground Tether’s USDT still runs the stablecoin payments show in Asia-Pacific. It just runs slightly less of it than …
A Ripple-commissioned CoinDesk Research report finds Tether's share slipping as compliance-focused stablecoins like RLUSD gain ground
Tether’s USDT still runs the stablecoin payments show in Asia-Pacific. It just runs slightly less of it than before.
A CoinDesk Research report found that USDT’s share of identified stablecoin payment volume in the region fell from 98% in early 2025 to 91% as of July 2026. The cause is not a collapse. It is a slow migration toward stablecoins built around compliance and regulatory approval, with Ripple’s RLUSD cited as an example.
What the numbers show
Ripple commissioned the report, and CoinDesk Research published it on September 15, 2026. Updates on RLUSD’s growth followed through early October 2026.
The headline finding is about geography. Asia-Pacific accounted for 51.2% of global identified stablecoin payment volume in the dataset, totaling $30.9 billion.
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That volume moved across 426 corridors in 28 countries.
Within that regional market, USDT’s share dropped 7 percentage points over roughly a year and a half. A 91% share is still dominant, but it means 9% of identified volume now flows through other stablecoins, up from just 2% in early 2025.
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The report also broke down what the payments were for. Business-to-business transactions made up 37.1% of Asia-Pacific stablecoin payment volume in the first half of 2026.
The compliance pitch
The research frames USDT’s slide as part of a broader diversification. Institutions, it argues, increasingly favor stablecoins that emphasize compliance, transparency and regulatory integration, rather than choosing based on liquidity alone.
RLUSD is pitching a different value proposition. The Ripple-issued stablecoin gained regulatory clearance in Japan as a new electronic payment instrument. It is now distributed through SBI VC Trade.
One caveat worth flagging: the report was commissioned by Ripple, the company behind RLUSD. That does not invalidate the data, but readers should weigh the framing around compliance-focused stablecoins with that relationship in mind. The research also does not specify how much of USDT’s lost share went to RLUSD specifically versus other alternatives.
What this means for the stablecoin market
Investors and traders should watch three things. First, whether the non-USDT share keeps growing in future data or stalls near current levels. Second, whether RLUSD and similar tokens secure approvals in other Asia-Pacific jurisdictions beyond Japan. Third, whether the B2B share of volume rises, which would suggest corporates are leaning further into stablecoin rails.