Assemble AI

Willy Woo's 10,000 Bitcoin simulations place the median path at $1.03 million in February 2033, after a 43% decline from the 2028 cycle peak. Woo emphasizes that the model does not predict Bitcoin's future, but considers $241,000 to $413,000 a reasonable range for the 2028 peak. The 29th percentile path that Woo highlights never attains $1 million. The model assumes future returns follow the 2018 to 2022 pattern, so a market-structure change would invalidate the model.

South Korea's government told centralized crypto exchange heads that the government would consider an education tax if proposed digital asset legislation classifies the exchanges as financial institutions. Crypto trading and brokerage businesses currently fall under the information and communications category and do not pay the education tax. Banks, insurers and securities firms pay 0.5% on the first 1 trillion won of operating revenue and 1% on revenue above that threshold.

SoSoValue data shows US XRP spot ETFs registered net outflows totaling $3,610,100 yesterday, October 26, U.S. Eastern Time. Bitwise XRP ETF (XRP) was the only fund with a net outflow that day. The data puts cumulative net inflows across XRP spot ETFs at $1,801 million as of press time.

SoSoValue data show that US spot SOL ETFs registered net outflows totaling $8,228,700 yesterday, October 26, Eastern Time. Bitwise Solana Staking ETF (BSOL) registered net outflows of $7,221,200 that day, according to SoSoValue. SoSoValue put total net assets for spot SOL ETFs at $1,553 million as of press time. SoSoValue put cumulative net inflows at $1,532 million.

Bitcoin, XRP and Dogecoin gained modestly on Monday, while Ethereum declined. Bitcoin traded near $80,000, and Ethereum stayed between $2,290 and $2,338. Coinglass data showed nearly $175 million in cryptocurrency liquidations over the last 24 hours, with long positions suffering most of the losses. Analyst Ali Martinez said Bitcoin could decline toward $72,500 if $82,000 remains resistance. However, Santiment said declining participation strengthens the possibility that a local bottom may form soon.

Hardware wallet maker Keystone said an attacker who breached Keystone's website last week stole an authentication key that could let counterfeit wallets pass verification. Keystone plans to destroy 18,835 devices containing the compromised key and has suspended production shipments of all devices using that key. Keystone said the attacker also stole 25,964 buyer records and another 12,873 records from unfinished checkouts. Keystone said devices manufactured and delivered before the October 20 incident should be considered safe. However, Keystone could not guarantee the authenticity of devices delivered after October 20 and advised affected customers to seek additional verification.

CNBC host Jim Cramer said he would buy Goldman Sachs shares after Anthropic filed an IPO prospectus on Monday. Goldman Sachs and Morgan Stanley are leading the offering, which earns Goldman Sachs underwriting fees. Cramer welcomed the fact that no customer accounted for more than 10% of Anthropic's revenue during the nine months through September 30. However, the filing identifies cloud spending obligations that remain payable even if AI demand weakens. The offering adds to a growing supply of AI-related equity as further Federal Reserve tightening is expected.

Peter Sellis, Snapchat's first product manager, said on Monday that Sellis is taking charge of product at Elon Musk's X. Sellis takes responsibility for a creator payment system rebuilt seven weeks ago that rewards original posts viewed by paying subscribers. X had about 4.4 million Premium subscribers compared with roughly 550 million monthly users. Neither Sellis nor X has announced any adjustments to creator payments.

The Optimism Foundation proposes replacing Security Council cohort elections with nominations by the elected Council Lead, subject to a tokenholder veto requiring 20% of active votable OP supply. Each nominee would face a week of review and a week of veto voting before appointment. The Lead would remain unable to hold signing keys, while Foundation screening, composition requirements and tokenholder removal powers would constrain the appointment process. As of Oct. 25, the proposed manual remained a draft, and the changes would take effect with a Lead election after ratification.

SBI Holdings and Startale Group signed a memorandum of understanding with BlackRock Financial Management and BlackRock Japan to explore linking tokenized money market funds with SBI's yen-pegged stablecoin, JPYSC. The companies said the assessment will cover technology and infrastructure, business and distribution, and regulation and market development. The companies said the collaboration is intended to accommodate financial institutions and businesses in Japan and abroad.

Balancer announced that an inventory of DAO assets uncovered over $500,000 in assets and unclaimed rewards belonging to external users and institutions. The affected institutions include Ethena and Gauntlet. Balancer has contacted the asset owners, and some institutions have started withdrawing assets. The Balancer community previously approved a gradual shutdown of protocol operations, and some pools will allow only withdrawals starting October 30.

Galaxy Digital researchers believe Bitcoin's bear market ended in June, four months ago. Alex Thorn, Galaxy's head of firmwide research, says Bitcoin has entered an accumulation phase like those preceding every previous advance. Thorn says technical indicators and reduced exposure among certain traders support that assessment. Thorn also says earlier shifts toward favoring blockchain technology over Bitcoin preceded large Bitcoin gains.

Bitcoin treasury company Strive acquired 6,182 BTC for $511 million between October 16 and October 23. Documents filed on Monday with the U.S. Securities and Exchange Commission show that Strive's holdings reached 43,000 BTC. Strive paid an average of $82,732 per bitcoin. The purchase moved Strive, the world's fourth-largest Bitcoin treasury firm, closer to Metaplanet and Twenty One Capital.

Ripple announced on Monday that the Office of the Comptroller of the Currency has granted final approval to Ripple National Trust Bank. Ripple said the bank can manage RLUSD reserves, serve as collateral trustee for RLUSD holders and provide custody for digital assets. The approval finishes a chartering process that included conditional approval in December 2025. Standard Custody & Trust Company, which New York authorities regulate, will remain the issuer of RLUSD.

Babylon Labs' proposed native Bitcoin lending market on Aave V4 would require Wrapped Bitcoin (WBTC) for direct liquidations whenever application fees or borrower compensation are payable. LlamaRisk's October 23 assessment describes a direct route that can bypass insufficient shared-pool WBTC funding, but required token transfers must still succeed. A keeper must also supply WBTC to repay a WBTC loan, even when neither additional payment applies. The assessment says the integration contracts were not deployed on Ethereum mainnet. LlamaRisk recommends an initial 100 WBTC credit line for the pooled liquidation route, separate from the proposed 300 BTC collateral launch cap.

Court documents show that the New York State Gaming Commission has petitioned a state court to compel Kalshi to comply with an investigative subpoena. The July 31 subpoena covers sports event contracts, business targeting users under 21, advertising and corporate matters. The Commission said the investigation will help determine whether Kalshi and other parties should face civil penalties and the amounts. Kalshi has not publicly responded.

Anthropic filed for a Nasdaq IPO on Monday as crypto traders valued the company near $1.9 trillion. Moonrock Capital founder Simon Dedic said the listing could mark the peak of the AI bubble or become a major private-market wealth-creation event. Anthropic recorded a $974 million operating profit in the June quarter, but noncash financing adjustments contributed heavily to a $66.3 billion quarterly net loss. Anthropic warned that weaker demand could undermine the company's ability to meet minimum infrastructure payments. Staggered shareholder selling restrictions could spread potential investment proceeds across several months rather than release the money at once.

Canada proposed stablecoin regulations that would require one-to-one reserves and redemption within three business days, with fees limited to 1%. The draft would retain a prohibition on interest paid for holding stablecoins, including indirect payments through third parties. Issuers would keep reserves with Canadian custodians in separate accounts protected from creditors if an issuer becomes bankrupt. The proposal carries penalties of up to C$10 million for very serious violations, with the Bank of Canada supervising issuers. The draft was published October 24 for a 60-day consultation, and implementation is targeted for fall 2027.