The Incrypted editorial team has prepared a digest of key Web3 and AI events this week. We will tell you about the massive correction of the crypto market with liquidations of more than $19 billion, the launch of a staking ETF from Grayscale Investments, the potential release of the Polymarket token, Solana’s record revenues and much more.
Top News
Bitcoin
After the first cryptocurrency set a new all-time high above $125,000 on October 5, 2025, the new week led it to a global correction. This occurred against the backdrop of US President Donald Trump’s announcement of 100% tariffs on imports of goods from China.
The cryptocurrency market reacted with a massive drawdown. Bitcoin at moments fell to $102,000, which led to a decline of almost 18%. Nevertheless, the fall in the price of the first cryptocurrency was not so massive compared to what altcoins recorded. A lot of assets lost in price almost half, some falling by 70%.
At the time of publication of the material, the bitcoin exchange rate is holding around $111,600, according to TradingView. The weekly drawdown is 8.9% and the market capitalization is at $2.2 trillion.
A sharp deterioration in sentiment in the digital asset industry caused the Fear and Greed Index, which reflects the overall state of the market, to drop from 64 to 35 points.
- The crypto market experienced the largest wave of liquidations in history – over $19 billion.
A massive drop in most cryptocurrencies led to liquidations of futures positions worth over $19 billion in a day — an all-time high. Positions of more than 1.6 million traders were forcibly closed. The lion’s share was longs, over $16 bln. The largest volume of liquidations fell on Hyperliquid — $10.3 bln of the total amount. The same platform saw the largest single liquidation — the user lost over $203 million.
- Luxembourg invested in bitcoin through ETFs
Luxembourg’s sovereign wealth fund (FSIL) invested 1% of its assets in bitcoin through an exchange-traded fund (ETF). FSIL thus became the first sovereign wealth fund in the eurozone to invest in cryptocurrencies. As explained by Jonathan Westhead, head of communications at the Luxembourg financial agency, the bitcoin investment was realized through selected ETFs to reduce operational risks.
- A whale with $10 billion in bitcoins transferred 3,000 BTC to Hyperunit
On October 7, 2025, a whale with over $10 billion in bitcoins made a transfer of 3,000 BTC to the Hyperunit platform. This sparked a wave of discussion in the crypto community about a possible new phase of Ethereum accumulation. The movement of funds worth $363.9 million was recorded by Arkham Intelligence, an analytics company. The wallet, identified as “Hyperunit-BTC-Whale,” moved coins to a platform for large swaps and custodial transactions.
- Senator Cynthia Lummis confirms readiness to launch a strategic bitcoin reserve
US Senator Cynthia Lummis said that funding for the Strategic Bitcoin Reserve (SBR) could “begin at any moment”, but the process is being hampered by “legislative red tape”. Thus she confirmed that following President Donald Trump’s executive order signed in March 2025, the legal prerequisites for the start of the program are in place, but the practical implementation is still delayed.
Regulation
- EU plans to hand over control of the crypto market to ESMA
Verena Ross, chair of the European Securities and Markets Authority (ESMA), said the European Commission is preparing legislative changes that would transfer oversight of cryptocurrency exchanges, custodians and clearing houses from national regulators to ESMA. Such changes could be an important step towards a more holistic and globally competitive capital market in Europe, it said.
- Dubai regulator fined 19 cryptocurrency companies for operating without a license
The Dubai Virtual Assets Regulatory Authority (VARA) has fined 19 companies for providing services without a license and violating promotional rules. The financial penalties range from $27,000 to $163,000. The guilty organizations are also ordered to cease operations within the emirate.
- SEC intends to introduce a special regulatory regime for crypto-innovations by the end of the year
The U.S. Securities and Exchange Commission (SEC) is preparing to develop formal rules for the crypto industry, including the so-called “innovation exception.” Department head Paul Atkins said that despite the challenges of the government shutdown, the SEC intends to begin rulemaking by the end of 2025 or in the first quarter of 2026. “Innovation Exception” involves creating limited treatment for companies testing new products on blockchain.
- UK authorities have announced the creation of the position of “digital markets champion”
The UK has announced the creation of a new position — “champion of digital markets”. He will oversee the tokenization of financial instruments and digitalization of the country’s wholesale markets. The key task of the appointee will be to bring together the private sector and public institutions to implement tokenization.
- The Bank of France has called on the EU to hand over oversight of cryptocurrency companies to ESMA
The Bank of France has called on the European Union to transfer oversight of major cryptocurrency companies to the European Securities and Markets Authority (ESMA) to ensure uniform application of standards across the bloc. Representatives also called for strengthening the EU’s key regulatory framework for digital assets (MiCA). It currently allows cryptocurrency companies to obtain a license in one member state and use it as a “passport” to operate across the EU.
Project News
- USDe, BNSOL and WBETH steiblcoins depegged on Binance
On the morning of October 11, 2025, users of the Binance exchange recorded a large-scale “depeg” — deviation of the prices of USDe, BNSOL and WBETH steiblcoins from their face value. According to TradingView, USDe was falling to $0.6567, WBETH to $430.65, and BNSOL to $34.9. The incident caused massive liquidations and sharp fluctuations in the derivatives market.
Binance confirmed the incident and said the team is conducting a “comprehensive review of affected users, details of the liquidations and possible compensation measures.” The exchange noted that the investigation is ongoing and affected customers will be notified individually.
- Coinbase and Mastercard to explore $2 billion purchase of stablecoin startup BVNK — Fortune
US exchange Coinbase and payments giant Mastercard have held preliminary talks to buy British startup BVNK, Fortune reports. The deal is valued in the range of $1.5 to $2.5 billion and could become the largest in the history of the stablecoin segment. According to sources, Coinbase is currently taking the initiative, but the final decision has not been made.
- Ocean Protocol has announced its withdrawal from the ASI alliance to preserve independent tokenomics
The developers of Ocean Protocol have announced their withdrawal from the Artificial Superintelligence Alliance (ASI), co-created by Fetch.ai and SingularityNET. The decision is effective immediately and is accompanied by the withdrawal of Protocol representatives from the project’s board of directors. ASI was founded in March 2024 to unify the ecosystems of the three artificial intelligence projects under a single token.
- Polymarket co-founder hints at POLY token issue
Polymarket co-founder Shane Coplan has hinted at the upcoming release of the POLY token. The entrepreneur published the corresponding post in the social network X (formerly Twitter). The post coincided with a major investment deal. As part of it, Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, announced its intention to invest $2 billion in Polymarket.
- S&P Global has unveiled the first hybrid index of digital assets and equities
S&P Global has launched the first hybrid index combining digital assets and traditional stocks of companies related to the crypto industry. The new product reflects S&P’s efforts to create transparent tools for evaluating and investing in the digital economy, according to a press release. The Digital Markets 50 Index was created in conjunction with the Dinari platform. It includes 15 leading assets and 35 stocks of blockchain, digital assets, and fintech infrastructure firms.
- Grayscale has launched the first U.S. spot cryptocurrency ETPs with staking
Investment firm Grayscale has announced the launch of new investment products with steaking features. These are the Grayscale Ethereum Trust ETF (ETHE), Grayscale Ethereum Mini Trust ETF (ETH) and Grayscale Solana Trust (GSOL). The press release says that ETHE and ETH provide access to Ethereum, while GSOL provides access to Solana. All three products allow investors to generate income from staking their respective assets through a regular brokerage account.
- Solana generated $2.85 billion in revenue for the year — 220 times more than two years ago
The Solana network generated more than $2.85 billion in revenue between October 2024 and September 2025, this follows a report by 21shares. Experts noted that the network’s sources of profit were DeFi protocols, meme coins, DePIN solutions, AI applications and trading tools. The highest monthly figure was $616 million in January 2025. It was driven mainly by meme coins, particularly the launch of Trump Coin (TRUMP).
AI Sphere
- AMD has struck a deal with OpenAI to supply AI chips with $100 billion revenue potential
AMD and OpenAI have signed a multi-year contract to supply GPUs for artificial intelligence. As part of the agreement, the manufacturer will provide the AI giant with hundreds of thousands of chips totaling about 6 GW, starting in the second half of 2026. AMD shares jumped 41% on the back of the news, the biggest one-day rise since 2016.
- Anthropic and IBM partner to expand enterprise AI market
Anthropic and IBM have entered into a strategic partnership that will make Claude’s AI models available to enterprise software users. The collaboration aims to expand the French firm’s presence in business solutions and strengthen IBM’s position as a key player in the AI ecosystem, according to a press release.
- OpenAI adds third-party applications to ChatGPT
OpenAI has announced the launch of a new application system inside ChatGPT. It will allow users to interact directly with third-party services. Among the first partners are Booking.com, Expedia, Spotify, Figma, Coursera, Zillow, and Canva. According to OpenAI CEO Sam Altman, the initiative aims to make ChatGPT “a one-stop shop for productivity, learning and creativity.”
- The Sora app replicated ChatGPT’s success in terms of downloads in its first week after launch
OpenAI’s new AI-driven video generation app Sora has topped the mobile rankings. According to Appfigures analytics, it racked up 627,000 downloads on iOS in the first week after launch, surpassing ChatGPT’s 606,000 installations in the first seven days after release.
- Google unveiled Gemini Enterprise AI tool
Google Cloud has unveiled its artificial intelligence platform Gemini Enterprise. The product is designed to automate workflows and content creation in an enterprise environment. The new solution combines Google’s internal and third-party technologies. According to the developers, the platform provides employees with easy and secure access to AI capabilities without the need to write code.
On the Other Side of the Law
- A hacker broke into 0G Labs’ X account and demanded the “promised airdrop”
The official X (formerly Twitter) social media account of 0G Labs was hacked on the night of October 5, 2025. After gaining access, the hacker began posting accusations against the project team.
The hacker stated that the 0G Labs team allegedly defrauded investors. According to him, the developers promised to airdrop the Zero Gravity token and give away 12-13% of the total supply of the asset. The attacker is sure that it was about $640 million. However, in the end, the team reduced the size of the airdrop to $10 million, the hacker said.
- Report: DPRK hackers stole $2 billion worth of crypto assets in 2025
More than $2 billion worth of crypto assets have been stolen by North Korean hackers in 2025, the largest annual total ever. This is according to a report by analytics company Elliptic. The total amount of funds stolen by groups from the DPRK has already exceeded $6 billion, experts said.
- Hackers stole more than $20 million from Hyperliquid user’s wallet
The cryptocommunity was again shaken by the news of a large-scale theft of funds: the owner of the wallet associated with the Hyperliquid platform lost more than $20 million after the compromise of the private key. This was reported by a user under the nickname mlmabc. According to Hypurrscan, the user closed a $16 million long trade in HYPE token and sold 100,000 HYPE for about $4.4 million about 11 hours ago. The wallet has since undergone a complete “destruction” of assets.
- Hackers hacked PancakeSwap’s Chinese account at X
Decentralized exchange PancakeSwap reported the hacking of its official Chinese account on X (formerly Twitter), which attackers used to promote a fake meme coin called Mr. Pancake. The developers later clarified that they were “actively working with the X team to resolve the issue with PancakeSwap” and urged users to remain vigilant.
- In Kazakhstan, 130 crypto exchanges have been shut down
In Kazakhstan closed 130 illegal cryptocurrency exchanges and confiscated virtual assets worth $16.7 million, local media reported, citing Deputy Chairman of the Financial Monitoring Agency (AFM) Kairat Bizhanov at a government meeting. It is known that the liquidated crypto exchanges are suspected of laundering criminally obtained funds and confiscated.
Media: “Bitcoin Jesus” will pay $48 million to settle with the U.S. Department of Justice
Crypto investor Roger Ver, nicknamed “Bitcoin Jesus,” has reached a tentative settlement with the U.S. Department of Justice in a tax fraud case. He has agreed to pay about $48 million to settle claims of unpaid taxes related to his crypto assets. Under the terms of the deferred prosecution agreement, the criminal case will be closed if Ver fulfills all obligations.
Cryptology Key co-founder Konstantin Ganich found dead in Kiev
Konstantin Ganich, a well-known trader in the cryptocommunity and co-founder of the Cryptology Key project, has passed away. The information was confirmed by the team in his Telegram channel. According to the report, the reasons are being established by the investigation. Ganich was known as a trader and blogger who actively published content about cryptocurrency markets and fitness. In the professional community he was known as one of the active participants of the Ukrainian industry of digital assets.
Solana Company plans to buy back 5% of Solana’s over $6 billion offering
Solana Company plans to buy out 5% of Solana’s total offering of over $6 billion, the firm’s CEO Joseph Chi said in an interview with Chinese media. If the target market capitalization is achieved and meets regulatory requirements, Solana Company plans to list in Hong Kong. The move is likely to take place within six months, the statement said.
Canary Capital’s TRUMP-ETF has appeared on the DTCC list
Canary Capital’s spot TRUMP COIN ETF has been listed on the Depository Trust & Clearing Corporation’s (DTCC) settlement and clearing system. The product is listed under the ticker TRPC. It should be noted that DTCC is an American organization registered in the U.S. Securities and Exchange Commission (SEC). It is responsible for settlement, clearing, asset custody and data processing of securities transactions.
Ethena and Jupiter will issue the JupUSD stablecoin
Ethena Labs and Jupiter have teamed up to create JupUSD, a US dollar-backed stablecoin in the Solana ecosystem. The token is scheduled to launch in Q4 2025. As part of the agreement, Jupiter will convert about 750 million USDC from its liquidity pool into JupUSD to strengthen the position of the new asset.
India announced the launch of a digital rupee
India is preparing to launch a national digital currency that will be backed by the Reserve Bank of India (RBI) and utilize blockchain technology. This was announced by Commerce and Industry Minister Piyush Goyal at a meeting in Doha. He said the initiative aims to create a secure, fast and transparent platform for transactions similar to the stablcoin solutions in the US.
Other News
- Play Solana announced the launch of the PLAY token
- Elon Musk announced the launch of Grokipedia AI service to “expose Wiki lies”
- Florida high school student arrested over a question to ChatGPT about the method of killing a friend
- Media: Middle Eastern heirs await $1 trillion inheritance to invest in crypto-assets and hedge funds
- Businessman close to Trump prepares TRUMP-DAT for at least $200 million
- More than 1,000 Hyperliquid traders lost their entire deposit during the market crash
- In Australia, a company was caught creating a $440,000 report for authorities using AI
- A trader increased his deposit 2,260 times in three days thanks to meme coin on the BSC network
- Ethereum Foundation launched Privacy Cluster to advance digital privacy
- US authorities postponed publication of the monthly inflation report due to the shutdown.
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- Collected for you in one piece the key blockchain and cryptoasset investments for September 2025.
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