Morgan Stanley's Bitcoin ETF Could Attract $160 Billion, Says Strategy CEO

Coinbase has announced the acquisition of Vector, a social meme coin trading app, to enhance its Solana trading experience. The deal includes transferring ownership of the Tensor marketplace to the Tensor Foundation. TNSR token saw a significant price surge despite the broader crypto market selloff.

Stablecoins are debated as either "the most dangerous form of crypto" or a "global public good" by commentators like David Frum and Hélène Rey. Frum warns of a potential financial catastrophe, while Rey predicts destabilization of the international financial system due to stablecoin success.

Bitcoin and altcoins experienced sharp dives, resulting in billions of dollars' worth of liquidations. Despite some recovery, Bitcoin dipped again, with Ethereum, XRP, and Dogecoin showing losses. The futures market saw over $2.2 billion in liquidations, mainly from short positions.

Bitcoin has experienced a significant drop of over 25% to $83,700 this month, leading traders to purchase short-term put options at the $75,000 strike price on Deribit. The options market indicates a bearish sentiment, with the $85,000 put option now dominating trades.

Bitcoin experienced a 10% selloff overnight but rebounded slightly in U.S. morning hours after New York Fed President John Williams hinted at a possible rate cut in December. Williams emphasized the importance of restoring inflation to the 2% goal without jeopardizing maximum employment.

The recent crypto market downturn has led to significant unrealized losses for digital asset treasuries, triggering nearly $1 billion in liquidations in an hour as Bitcoin dropped below $82,000. Companies like Strategy and BitMine have seen their holdings suffer substantial losses.

A local hacker in Indonesia was arrested for exploiting security flaws in Markets.com's system, resulting in a $398,000 cryptocurrency theft. The suspect faces charges under cybercrime and anti-money laundering laws, with potential penalties of up to 15 years in prison and fines reaching $900,000.

Strategy, a software company known for investing in bitcoin, has seen a significant decline in its stock price, dropping 68% from its peak. Bitcoin has also decreased to $83,142, the lowest since April, impacting Strategy's performance.

The 11 U.S.-listed bitcoin ETFs have recorded a historic outflow of $3.79 billion, surpassing the previous peak of $3.56 billion in February. BlackRock's IBIT ETF alone has seen redemptions exceeding $2 billion this month, with a single-day withdrawal of over $900 million on Thursday.

Over 65 crypto organizations are urging President Donald Trump to direct federal agencies to clarify digital asset regulations promptly. The letter, signed by major industry players, outlines specific actions the SEC, CFTC, Treasury, and Justice Department can take without new legislation, aiming to leverage Trump's pro-crypto stance into concrete agency action.