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💰 Billions in Funding, In-App Trading, UK Savings & Pensions

Musk's xAI surges in funding, UK to unlock billions in savings and pensions, MetaMask and Coinbase launch trading tools, and billion-dollar funding reshaping the market.

Author

Bernadette Winston
October 08, 2025

In partnership with

Good Afternoon,

The crypto and tech sectors are buzzing with major developments. Elon Musk’s xAI is closing in on a $20B round with Nvidia backing, while MetaMask confirms a token and launches new trading tools. From the UK unlocking savings and pensions to crypto as it lifts its crypto ETN ban to billion-dollar funds and fresh regulatory moves, momentum is building across markets, platforms, and policy.

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News Roundup

Artificial Intelligence

  • Bitcoin Miner IREN Expands Into AI With NVIDIA-Backed Cloud Contracts (The Block)

  • China Bought $38B in U.S. and Allied Chipmaking Tools Despite Export Controls, Lawmakers Say (Reuters)

  • Elon Musk’s xAI Nears $20 Billion Funding Round Backed by Nvidia (Reuters)

Decentralized, Centralized, & Traditional Finance

  • UK to Unlock $930B in Savings for Crypto as Regulator Lifts ETN Ban (DL News)

  • Deutsche Bank Says Bitcoin Is “Almost” Ready to Become a Central-Bank Reserve Asset (Barron’s)

  • BOE to Ease Stablecoin Caps After Industry Pressure (Bloomberg)

  • Solana’s Jupiter to Launch JupUSD Stablecoin Backed by Ethena Labs (CoinDesk)

  • MetaMask Launches Perpetual Futures, Rewards Program, and Confirms Token Plans (MetaMask)

  • Coinbase Launches In-App DEX Trading for Emerging Tokens (Coinbase)

  • Coinbase to List New Perpetuals and Spot Pairs for Somnia (SOMI) and Linea (LINEA), Noice (NOICE), and Syndicate ( SYND) on October 9

  • North Dakota to Launch ‘Roughrider Coin’ State-Backed Stablecoin (Bloomberg)

  • Deutsche Bank Partners With Bullish to Expand Crypto Banking Services (The Block)

  • Binance Proof of Reserves Shows Decline in User Holdings (Binance)

  • Polymarket Founder Becomes Youngest Self-Made Billionaire After $2B ICE Deal (Bloomberg)

  • OranjeBTC Lists on Brazil’s B3, Becomes Latin America’s Largest Corporate Bitcoin Holder (Bitcoin Magazine)

  • Brevan Howard-Backed KAIO Expands Tokenized Funds to Sei Network (CoinDesk)

Exchange-Traded Funds

  • Canary Litecoin ETF Files Updated SEC Registration for Nasdaq Listing (SEC)

  • Canary HBAR ETF Files Updated SEC Registration to List on Nasdaq (SEC)

  • On October 7, U.S. spot Bitcoin ETFs saw $876 million in net inflows, while U.S. spot Ethereum ETFs added $421 million, marking seven consecutive days of positive inflows for both asset classes.

Infrastructure

  • Infinex Rolls Out Passkey Logins for 100 Crypto DApps Across Six Chains (Cointelegraph)

  • Ethereum Foundation Expands Privacy Efforts With New “Privacy Cluster” Initiative (EF Blog)

  • Yellow Network Unifies Fragmented Blockchains With Layer-3 Clearing Solution (The Block)

  • Polygon Activates Rio Upgrade to Boost Speed and Stability (The Block)

Markets

  • Crypto Market Tops $4.3 Trillion as “Uptober” Rally Accelerates (Decrypt)

  • Bitcoin Pulls Back After Record High, but Analysts See More Gains Ahead (Decrypt)

  • BNB Chain DEX Volume Surges to $6.06B Amid Memecoin Boom (DeFiLlama)

  • Traders Value Monad at $15B FDV in Hyperliquid’s Pre-Launch MON Market (The Block)

  • K33: Bitcoin’s Classic 4-Year Cycle Is Over as Institutional Era Takes Hold (The Block)

  • $489M in Crypto Longs Liquidated as Bitcoin, Ethereum Pull Back (Decrypt)

  • Silver Hits Record High as Gold Tops $4,000/oz (Reuters)

Meme Coins

  • BNB ‘Meme Season’ Takes Off as Binance- and CZ-Inspired Coins Explode (Decrypt)

  • Trump Memecoin Issuer Plans $200M Digital Asset Treasury to Support Token (Bloomberg)

  • FORM Surges as CZ Declares ‘BNB Meme Season,’ Eyes 40% Rally (Cointelegraph)

Politics & Regulation

  • Trump’s Firing of FTC Commissioner Could Jeopardize Crypto Market Bill Backed by Her Husband (Decrypt)

  • Kazakhstan Cracks Down on Crypto, Seizes $16.7M From Unlicensed Exchanges (Decrypt)

  • SEC Targets Year-End for ‘Innovation Exemption’ Rulemaking, Chair Atkins Says (CoinDesk)

  • AFL-CIO Blasts Senate Crypto Bill as “Facade of Regulation” (Decrypt)

  • Senate Confirms Jonathan McKernan to Top Treasury Role (The Block)

  • EU’s Controversial “Chat Control” Bill Delayed After German Opposition — But Privacy Advocates Warn Fight Isn’t Over (Cointelegraph)

Treasuries

  • Pineapple Financial Buys $8.9M in Injective (INJ) as Part of $100M Treasury Plan (X)

  • The 5 Biggest Publicly Traded Solana Treasury Firms Hold Billions in SOL (Decrypt)

  • Bit Digital Reports $506.6M Ethereum Treasury, Expands Holdings With $150M Note Offering (PR Newswire)

  • Bit Digital Expands Ethereum Treasury to $675M With 31,000 ETH Purchase (The Block)

  • LibWork Completes „500M Bitcoin Purchase, Eyes More Digital Assets (LibWork)

  • Upexi Holds 2,018,419 SOL in Solana Treasury (CoinGecko)

  • DDC Enterprise Raises $124M to Build 10,000-Bitcoin Treasury (The Block)

Venture Capital

  • CZ’s YZi Labs Launches $1B Fund as BNB Hits Record Highs (Cointelegraph)

  • Polymarket Secures $205M Across Two Hidden Rounds, Now Valued at $1.2B (X)

Other News

  • Scientists Behind Quantum Circuit Breakthrough Awarded 2025 Nobel Prize in Physics (Nobel Prize)

  • North Korean Hackers Steal Record $2B in Crypto So Far in 2025, Says Elliptic (CoinDesk)

  • DCG’s AI Subsidiary Yuma Appoints TradeBlock Co-Founders to Leadership Team (The Block)

  • 5 Crypto Scams You Can’t Ignore in 2025 (Cointelegraph)

  • ‘Golden Age’ of Prediction Markets as Kalshi and Polymarket Hit Record Volumes (The Defiant)

  • Institutions Now Dominate Crypto as ETFs and Wealth Managers Drive Stability (Decrypt)

  • Base Explores Token Launch, Sparking Debate on Airdrop Purpose (X)

  • PancakeSwap’s Chinese X Account Hacked to Push Scam Token, CAKE Price Holds Steady (Decrypt)

  • British Duo Accused of Plotting $23M Crypto Heist—From Prison (Decrypt)

  • $650,000 Bitcoin Robbery in Israel Tied to Organized Crime (DL News)

Check This Out

BlackRock’s Bitcoin ETF is poised to become the fastest in history to reach $100 billion in assets, achieving in just 435 days what took Vanguard’s VOO 2,011 days—a feat accomplished by only 18 of more than 4,500 ETFs in the past three decades.

Fastest ETF to $100 billion in AUM. Source: Bloomberg, The Block

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