October 2025 turned out to be a quieter month for crypto security breaches — but not without drama. According to data shared by blockchain security firm PeckShield, around 15 major exploits drained nearly $18.18 million in total. While this figure sounds alarming, it actually marks a massive 85.7% drop compared to September’s staggering $127 million in losses.
$20 Billion Vanished in Hours
While hack numbers fell sharply, October 10 became one of the darkest days in crypto history. A sudden market crash erased over $20 billion in leveraged trades within hours, marking the largest liquidation event ever recorded.
The chaos overshadowed even the biggest exploits of the month, proving once again how unpredictable the crypto space can be.
Garden Finance Tops the Hack List
Despite the market crash taking headlines, hackers didn’t rest completely.
Garden Finance was the biggest victim, losing $11 million.
Typus Finance followed with $3.4 million stolen.
Abracadabra.Money (MIM_Spell) came third, reporting $1.8 million in losses.
PeckShield also tracked stolen funds, showing over 8,600 ETH moved through suspicious wallets, proving that cybercriminals are still active behind the scenes.
Is Crypto Security Finally Improving — or Just Taking a Break?
The sharp drop in exploits might suggest that better defenses and audits are working. But experts warn the calm could be temporary. Many believe the market crash simply slowed down hacker activity and on-chain transactions.
For now, October’s data offers a brief sigh of relief — but in crypto, peace rarely lasts long.
The fight between Custodia Bank and the Federal Reserve just took another sharp turn, and it’s not in favor of crypto. A U.S. 10th Circuit Court of Appeals has sided with the Fed’s decision to deny Custodia Bank a master account, a move that effectively keeps crypto-focused banks locked out of the nation’s central banking system for now.
Why the U.S. Court Denies Custodia Bank a Master Account
Custodia applied for a Fed master account in 2020 to bridge crypto and traditional banking. After a 19-month wait, the Fed rejected the request in January 2023, citing weak risk management in its crypto-focused model.
Custodia sued, arguing the Fed had no right to deny eligible applicants. However, the appeals court recently ruled in favor of the Fed, upholding its authority to protect financial stability.
In its recent decision, the appeals court sided with the Fed.
The court clarified that eligibility for a master account does not guarantee a right to access.
Judge David Ebel stated the Fed’s discretion is essential to “protect the nation’s financial system.”
The court found that the Federal Reserve used its supervisory power lawfully and that Custodia’s arguments did not override the Fed’s statutory authority.
Judge Timothy Tymkovich disagreed with the decision, saying the Fed’s rules require it to give access to all eligible banks. Custodia called the ruling “disappointing” but said it might appeal, as similar cases could set different precedents.
For now, the decision keeps crypto-focused banks locked out of the Fed’s payment system, a setback for those trying to bridge crypto with traditional finance.
Fed Considers Limited Access for Crypto Firms
Still, change could be coming. Fed Governor Christopher Waller has proposed introducing “skinny master accounts” for fintech and stablecoin firms. These accounts would allow limited, highly regulated access to the Fed’s payment systems, with strict conditions like no overdrafts, no interest, and capped balances.
If implemented, it could represent the Fed’s cautious first move toward engaging with the crypto sector, offering access, but under tight control.
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FAQs
Why did the U.S. court deny Custodia Bank a Federal Reserve master account?
The court ruled the Fed has discretion to deny access, citing weak risk controls in Custodia’s crypto model and its duty to protect financial stability.
What does the Custodia Bank ruling mean for crypto banks?
The decision keeps crypto-focused banks out of the Fed’s system for now, limiting their ability to directly settle payments or hold reserves.
Does being eligible mean a bank automatically gets a Fed master account?
No. The court clarified that eligibility doesn’t guarantee access — the Fed can deny accounts to safeguard the financial system.
Can Custodia Bank appeal the Federal Reserve decision?
Yes. Custodia plans to consider an appeal, and future cases could shape how courts balance innovation with regulatory oversight.
The long-awaited XRP exchange-traded fund (ETF) from Bitwise could soon become a reality. Bitwise, the $15 billion asset management giant, has just submitted Amendment No. 4 to its XRP ETF filing with the U.S. Securities and Exchange Commission (SEC), revealing two crucial details.
Experts believe such updates usually signal the final step before approval. If cleared by the SEC, the XRP ETF could go live within just 20 days.
Two Major Updates in Bitwise XRP ETF
On Oct 31, Bitwise filed an Amendment No. 4 with the SEC to update its S-1 form. The latest updated document includes two crucial details: first, the listing venue will be the New York Stock Exchange (NYSE); and second, the management fee will be 0.34%.
Eric Balchunas, senior ETF analyst at Bloomberg, believes Bitwise’s latest filing marks a major step forward for XRP’s entry into traditional finance. “Adding the NYSE and fee means Bitwise has checked nearly all boxes.”
Bitwise just updated their XRP ETF filing to include exchange (NYSE) and fee of 0.34%, which are typically the last boxes to check. Amendment #4. pic.twitter.com/BUnkasSQY5
Historically, once issuers include exchange and fee details in their S-1 forms, it usually means they’re just waiting for the final green light from the SEC.
XRP ETF Could Launch in 20 Days
Following the update news, ETF expert James Seyffart of Bloomberg Intelligence added more context to it, noting that Bitwise’s latest filing contains “shorter language” that could allow the product to go live within just 20 days, pending SEC clearance.
Seyffart noted that Bitwise isn’t alone, major players like VanEck, Fidelity, and Canary Funds have also updated their filings, signaling that the race to launch an XRP ETF is heating up fast.
Meanwhile, Crypto America host Eleanor Terrett revealed that Canary Funds removed the “delaying amendment” from its S-1 filing, which gives the SEC control over timing.
This sets Canary’s XRP ETF up for a launch date of November 13, if the Nasdaq approves its 8-A filing.
After the latest XRP ETF updates, XRP’s price saw a small uptick, trading around $2.51, showing growing optimism among traders.
Analysts say that if the XRP ETF gets approved, it would mark the first-ever U.S. spot ETF for XRP, a historic moment that could push the token toward its all-time high price.
At present, XRP faces strong resistance near the $2.75 level. A breakout above this could open the door for a test of the $3 psychological mark.
However, if selling pressure continues, XRP might correct by up to 19%, retesting the $2 support zone within its long-term channel pattern.
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FAQs
What is the Bitwise XRP ETF?
The Bitwise XRP ETF is a proposed investment fund tracking XRP’s price, awaiting SEC approval. It would trade on the NYSE, making it easier for traditional investors to gain exposure to the asset.
When will the XRP ETF launch?
The XRP ETF could launch as soon as 20 days after SEC approval. One issuer, Canary Funds, has a potential launch date of November 13, but this is still pending final regulatory and exchange clearance.
How will the XRP price react to an ETF approval
An XRP ETF approval is widely expected to boost the price by increasing demand and institutional legitimacy. This could help it break key resistance levels and challenge its all-time high.
Can retail investors buy the XRP ETF?
Yes, once approved and live, retail investors can buy shares of the XRP ETF through any standard brokerage account, just like a stock, making investment accessible without holding XRP directly.
How to buy the XRP ETF when it goes live?
When the XRP ETF launches, you can purchase it through your usual online broker by searching for its ticker symbol. It will be listed on major exchanges like the NYSE for easy access.
What are the risks of investing in an XRP ETF?
Key risks include XRP’s inherent price volatility, regulatory uncertainty, and market sentiment shifts. An ETF carries fund-specific risks like fees but simplifies exposure compared to direct ownership.
Bank Negara Malaysia (BNM) has kicked off a three-year programme to test real-world asset tokenisation. A newly released roadmap aims to understand how blockchain-based tokenization can transform Malaysia’s financial landscape, from Islamic finance to supply chain management, with industry feedback open until March 1, 2026.
Malaysia’s 3-Year Plan for Tokenization
BNM has released a Discussion Paper on Asset Tokenisation to collect feedback from the financial and technology sectors. The goal is to create a Digital Asset Innovation Hub and an industry working group that will explore how tokenization can be used in real-world financial systems.
The plan follows a clear three-year roadmap
In 2026, the focus will be on proof-of-concept and pilot testing to identify what works and what doesn’t.
By 2027, these pilots will expand into larger trials, guided by early findings and input from industry participants.
Lastly, BNM has invited stakeholders to share their feedback and ideas for use cases by March 1, 2026.
Focus Areas and Selection Criteria
BNM’s working group will explore use cases in areas such as:
Supply chain finance, where tokenization can improve transparency, traceability, and speed of payments.
Islamic finance, where blockchain can help create more efficient and transparent Sharia-compliant products.
However, BNM has made it clear that not every idea qualifies, projects must show tangible real-world benefits, use blockchain only when it’s the right fit, and remain technically feasible within current infrastructure.
BNM wants tokenization to fix real-world challenges, starting with Malaysia’s RM101 billion SME financing gap by turning invoices into digital tokens, helping small businesses get quicker and cheaper loans.
The central bank also plans to apply this to Islamic finance, where Malaysia already leads globally. Using tokenized sukuk & smart contracts to automate payments, increase liquidity, and improve Malaysia’s RM2.4 trillion Islamic market, while following Shariah rules.
For sustainability, tokenized green bonds could tie payments to verified climate results, reducing greenwashing and boosting investor trust in Malaysia’s fast-growing ESG sector.
With this structured plan, BNM aims to bridge innovation and practicality, positioning Malaysia as a regional leader in regulated digital finance.
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FAQs
What is BNM’s asset tokenisation discussion paper?
It’s a guide for industry feedback on how tokenization can be safely applied in finance, forming the base for Malaysia’s digital asset framework.
How will asset tokenisation benefit SMEs in Malaysia?
By converting invoices or assets into tokens, SMEs can access faster, lower-cost financing and improve cash flow transparency.
Can tokenised Islamic finance products improve liquidity in Malaysia?
Yes. Tokenised sukuk and smart contracts can streamline trading, cut settlement time, and boost liquidity in Malaysia’s Islamic markets.
When will Malaysia start tokenisation pilots and what do they cover?
BNM pilots begin in 2026, testing tokenized finance for SMEs, supply chains, and Islamic products before scaling nationwide in 2027.
Venezuela is getting ready to take a big step by joining traditional banking with digital assets. Conexus, one of the country’s largest payment companies, works to integrate Bitcoin and stablecoins directly into the national banking system.
If successful, the Conexus model might inspire other nations to follow.
Venezuelan Banks to Add Bitcoin and Stablecoins
For years, Venezuela has battled a collapsing currency and runaway inflation, forcing many citizens to turn to cryptocurrencies for financial stability. Meanwhile, Conexus, which already processes nearly 40% of the nation’s electronic transfers, now plans to make a key part of Venezuela’s financial network.
Now, the company wants to go further by allowing local banks to provide direct crypto services, including custody, transfers, and fiat exchange for Bitcoin and stablecoins.
The initiative is set to launch in December 2025, marking a major leap in Venezuela’s financial modernization. If successful, it would make Venezuela one of the first countries in the world to fully integrate crypto into its national banking network.
According to Conexus President Rodolfo Gasparri, Venezuela’s national currency, the bolivar, has sharply depreciated, pushing more citizens toward stablecoins like USDT (Tether). Many Venezuelans now use these digital dollars to protect their money from inflation and to carry out daily transactions.
Gasparri noted that this growing trend shows the need for a smoother, more secure bridge between banks and the crypto world.
The new system will let users handle crypto directly through their bank accounts, without external apps. Built on blockchain, it aims to make transactions safer and build trust in regulated crypto use.
A Model for Other Nations
Analysts believe Conexus’s plan could reshape Venezuela’s financial landscape. By merging traditional banking with crypto. As of now company is building a bridge between fiat and digital money, something that could help millions gain easier access to stable and low-cost financial tools.
If successful, it could become a model for other nations battling currency instability.
Could Solana become the next Bitcoin-level success story? Bitwise CIO Matt Hougan thinks so, and his reason is simple yet powerful. He believes the blockchain is sitting at the center of one of crypto’s biggest upcoming booms, with two powerful forces driving its rise.
But what exactly makes Solana so special, and why does Hougan think its growth could be “explosive”?
The “Two Ways to Win” Strategy
Hougan started by explaining how his favorite investments share one trait, they let you win in more than one way. For Bitcoin, he said, investors benefit if either the global “store of value” market expands or Bitcoin itself captures a larger piece of that market.
Today, the combined value of gold and Bitcoin sits around $27.5 trillion, with Bitcoin holding about 9% of that share. If this market doubles to $55 trillion and Bitcoin keeps its share, its value could also double.
And if Bitcoin’s share grows alongside the market, the upside multiplies. Hougan estimates that if Bitcoin eventually rivals gold’s dominance, its price could soar to $6.5 million per BTC.
3/ Today, the stricttore of value market is worth ~$27.5 trillion: $25tr for gold and $2.5tr for bitcoin. (You could argue that other assets are also part of that market, like silver, art, Ethereum, and real estate, but for the purposes of this thread I’ll keep it simple.)
Hougan then applies this “two-way win” framework to Solana (SOL). In his view, Solana represents a dual opportunity:
The stablecoin and tokenization infrastructure market is poised for significant growth.
Solana’s share of that market could increase as it gains adoption.
Currently, Solana competes with Ethereum, Tron, and BNB Chain in powering stablecoin transactions and tokenized assets. Together, these four have a combined market cap of $768 billion, with Solana holding 14% of that.
Hougan believes that as tokenized assets and stablecoins reshape global finance, this market could grow 10x or more, and Solana is well-positioned to capture a bigger slice.
Why Solana Stands Out?
What makes Solana unique, according to Hougan, is its speed, usability, and community-driven innovation. He notes that institutions are beginning to take notice, citing Western Union’s recent choice of Solana as its stablecoin infrastructure.
For Hougan, Solana isn’t just another Layer-1 blockchain; it’s a platform poised to power the next wave of real-world finance. If both the tokenization market expands and Solana strengthens its position within it, he says, the results could be “explosive.”
As of now, Solana (SOL) is trading around $185.46 with a market cap hitting nearly $102 billion.
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FAQs
Will Solana reach a new ATH in 2025?
According to our Solana price prediction 2025, the altcoin might chug up to a maximum of $400 by 2025.
Will Solana reclaim its crown of being an Ethereum killer?
Solana stock, with its strengths in fundamentals, still holds significant prominence. That said, we can expect its glory to shine brighter with resolutions to shortcomings and major Solana news.
Will Solana enter the top-3 cryptos in terms of market capitalization in 2025?
Solana holds the potential to climb higher on the market cap rankings. The digital asset could make it to the target if it does not fall to negative criticism.
How much will the SOL price be in 2050?
By 2050, a single Solana price could go as high as $72,459.
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