🏡 Bitcoin-Backed Mortgages, Crypto Adoption & ETP Filings Soar

Good Afternoon,

Crypto adoption is accelerating across the globe, led by strong momentum in the U.S. and India as stablecoin usage soars. Robinhood has listed BNB as Binance’s token reaches a $150B market cap, while Bitcoin-backed mortgages are gaining popularity as investors look to leverage crypto for real estate. Meanwhile, crypto ETP filings have surpassed 150 and are on track to hit 200 within a year, signaling growing demand.

Scroll down for more details and other developments in crypto, blockchain, and AI!

News Roundup

Artificial Intelligence

• Study Finds OpenAI’s Sora 2 Can Generate Convincing Deepfakes on Demand (Decrypt)

• China’s Low-Budget AIs Outperform ChatGPT and Grok in Crypto Trading Experiment (Cointelegraph)

• Meta Cuts 600 Jobs in AI Division Amid Cost Restructuring and Strategic Overhaul (CNBC)

Decentralized, Centralized, & Traditional Finance

• Aave Partners With Maple to Bring Institutional Yield to DeFi Lending (The Block)

• Asian Stock Exchanges Clamp Down on Public Firms Turning Into Crypto Hoarders (Bloomberg)

• Jupiter DEX Launches Kalshi-Powered Prediction Market for F1 Mexico Grand Prix (CoinDesk)

• India and U.S. Lead Global Crypto Adoption as Stablecoin Usage Surges, TRM Labs Reports (The Block)

• dYdX Launches First-Ever World Series Prediction Market Perpetuals (dYdX)

• FalconX Acquires 21Shares to Create Powerhouse in Crypto Derivatives and Structured Funds (The Block)

• DraftKings Acquires Railbird to Launch Prediction Market App in Non-Betting States (The Block)

• Aave DAO Proposes $50 Million Annual Token Buyback to Strengthen ‘Aavenomics’ (The Block)

• Report: Nearly Half of U.S. Retail Crypto Holders Have Never Earned Yield, Citing Safety Concerns (The Defiant)

• Salesforce-Backed Modern Treasury Buys Stablecoin Startup Beam in $40M All-Stock Deal (The Block)

• Report: Crypto Market Matures as Stablecoin Volume Hits $46T and Total Cap Tops $4T (ai16z crypto)

Exchanges

• Gemini Bullish on UK Crypto as Adoption Hits 24%, but Says Many Await Regulation (The Block)

• Upbit Lists Clearpool (CPOOL) on KRW, BTC, and USDT Markets (Upbit)

• Bybit and OKX Delist Kadena After Company Shuts Down, Token Crashes 65% (Decrypt)

• Binance Enables Direct USD Deposits and Withdrawals in 70+ Countries via BPay Global (PR Newswire)

• Kraken’s Q3 Revenue Soars 114% to $648M as Exchange Prepares for U.S. IPO (Bloomberg)

• Robinhood Lists BNB as Binance Token Hits $150B Market Cap, Signaling U.S. Acceptance (CryptoRank)

Exchange-Traded Products

• Bloomberg Analyst: Crypto ETP Filings Surge Past 150, Set to Hit 200 Within a Year (X)

• On October 21, U.S. spot Bitcoin ETFs posted a total net inflow of $477 million.

• U.S. spot Ethereum ETFs recorded $142 million in net inflows on October 21.

• Hong Kong Approves First Solana Spot ETF, Expanding Beyond Bitcoin and Ethereum (hket)

• T. Rowe Price Files to Launch Its First Active Crypto ETF in Major Strategic Shift (CoinDesk)

Infrastructure

• Ethereum Enters Final Testnet Phase Before Dec. 3 Fusaka Upgrade (Cointelegraph)

• Major Crypto Wallets Team Up With SEAL to Launch Global Phishing Defense Network (Cointelegraph)

• ‘The Smartest Wallet Wins’: AI and UX Set to Drive Next Phase of Crypto Adoption (The Block)

• World App Integrates Polymarket as Prediction Markets Hit Record $2B Weekly Volume (Cointelegraph)

• AIOZ Network Builds “People-Powered Internet” Through DePIN Infrastructure for AI and Web3 (Decrypt)

• Brevis Founder: “ZK Isn’t Dead — It’s Entering Its Second Spring to Power Ethereum’s Next Wave” (Wu Blockchain)

• Coinbase to Enable ‘Private Transactions’ on Base via Iron Fish Integration (Cointelegraph)

Markets

• Kadena Token Crashes 47% as Company Behind Blockchain Shuts Down (Decrypt)

• ‘Uptober’ Stalls as Bitcoin and Ethereum Fall, Solana Leads Market Decline (Decrypt)

• Meme Stock Traders Ignite 1,000% Rally in Beyond Meat, Citing GameStop Déjà Vu (Decrypt)

• Fetchai Pursues Legal Action Against Ocean Protocol Over $100M FET Dump Allegations (The Defiant)

Meme Coins

• Solana Meme Coin Slerf Refunds Investors a Year After Accidentally Burning $10M (Decrypt)

Politics & Regulation

• Sen. Warren Slams Stablecoin Law, Urges Treasury to Address Trump Conflicts and Financial Risks (The Block)

• Trump Defends 155% Tariffs on China, Calling Them ‘Overdue Payback’ for Unfair Trade (India Today)

• Sen. Lummis Urges CFPB to Finalize Open Banking Rule Supporting Crypto Access (Decrypt)

• Russia Moves to Legalize Cryptocurrency Use in Foreign Trade (Izvestia)

• EU Risk Board Urges Stricter Stablecoin Rules Over Fears of Bank-Run Contagion (DL News)

• Senate Democrats Press Trump Envoy Steve Witkoff Over Undivested Crypto Holdings and UAE Ties (Fortune)

• UK Financial Regulator Sues Justin Sun-Linked HTX Over Alleged Illegal Crypto Promotions (The Block)

• Sen. Cynthia Lummis: Open Banking Is Key to Keeping America a Global Fintech Leader (Cointelegraph)

• Nigel Farage Promises to Make UK a “Crypto Hotbed,” Dividing Zebu Live Attendees (DL News)

• SEC and CFTC Push to Finalize Crypto Oversight Frameworks by Year-End Despite Shutdown (The Block)

Token Generation Events

• Real-Time Blockchain Project MegaETH to Hold Public Token Sale Starting October 27 (MegaETH)

• Kinetiq Launches KNTQ Governance Token to Power Decision-Making on Hyperliquid’s Leading Liquid Staking Protocol (The Defiant)

Treasuries

• Forward Industries Creates 25-Member Crypto Advisory Board to Steer $1.6B Solana Treasury Strategy (The Block)

Other News

• Streamer Sam Pepper Banned From Pump.fun and Kick After Firework Injures Teen Girl (Decrypt)

• Ethereum Foundation Moves $654M in ETH Amid Scrutiny Over Spending and Governance (The Block)

• Bealls Becomes First Major U.S. Retailer to Accept Crypto Payments Nationwide via Flexa (Business Wire)

• Ex-Engineer Gets Three Years’ Probation for Mining $5.8K in Ethereum on Former Employer’s Servers (Decrypt)

• NHL Strikes Landmark Licensing Deal with Prediction Markets Kalshi and Polymarket (The Block)

• Wallets Tied to Infamous Lubian Hack Move $1.83B in Bitcoin After Years of Dormancy (Onchain Lens)

• Bitcoin-Backed Mortgages Gain Ground as Investors Leverage Crypto for Real Estate (Cointelegraph)

Check This Out

There are now 155 active crypto ETF filings spanning 35 digital assets, reflecting accelerating demand for regulated exposure to digital markets. Bloomberg’s Eric Balchunas predicts that over 200 ETFs could launch within the next year.

Meme of the Day

Rate Today’s Edition

Share this newsletter, claim your reward! 🎁 

Participate in the On & Off Chain referral program by sharing the newsletter with your friends to claim your reward:

• ✌️2 referrals: A personal shoutout in On & Off Chain

Must be subscribed