Bitcoin Spikes as Oil Jumps Over Middle East Tensions

Binance has successfully converted its Secure Asset Fund for Users (SAFU) entirely into bitcoin, completing a $1 billion transition from stablecoin reserves. The fund now holds 15,000 BTC valued at approximately $1.005 billion, with a pledge to replenish if its value drops below $800 million.

Ethereum has reached a new milestone with over 30% of its circulating token supply now staked, totaling $72 billion. Despite a recent price plunge, investors continue to queue up $8 billion worth of tokens for staking, setting a record high.

Binance Co-CEO Richard Teng clarified that the crypto market liquidation event on Oct. 10 was not caused by Binance, but rather by external factors such as China's rare earth metal controls and U.S. tariffs. Despite the $19 billion liquidation, Binance supported affected users and saw no significant withdrawals.

World Liberty Markets, a lending platform linked to the Trump-family-associated crypto project, has quickly amassed hundreds of millions in deposits. The project's co-founder, Zak Folkman, announced the upcoming launch of World Swap, a foreign exchange platform, at Consensus Hong Kong.

The American Bankers Association has urged the Office of the Comptroller of the Currency to slow down the approval process for crypto charter applications due to undefined regulatory frameworks. The ABA emphasized the need for robust safety standards and expressed concerns about potential risks to the financial system.

The delayed release of January's inflation print is eagerly awaited by investors after a strong labor report showed the addition of 130,000 new jobs. Lower-than-expected inflation could prompt the Fed to cut rates sooner, benefiting risk assets like crypto and equities.

The Thai Cabinet has approved changes to allow crypto as underlying assets for regulated derivatives, promoting market growth and expanding investment opportunities. The SEC plans to amend rules for digital asset operators to offer crypto-linked contracts and coordinate with TFEX on contract specifications.

Coinbase has introduced Agentic Wallets, a payments infrastructure integrated into its custody and compliance stack, designed to work with AI models like ChatGPT and Claude. The wallets aim to address security risks by separating vault keys from the agent's core logic.

A Bitcoin wallet address linked to Nancy Guthrie's disappearance saw new activity this week, with a fresh ransom demand emerging. Despite a small transaction and a third ransom note, authorities have not confirmed the sender's identity or motives.

Paxful, the peer-to-peer Bitcoin exchange, was sentenced to pay $4 million in fines after admitting to transferring funds involved in money laundering, fraud, and prostitution schemes. The company facilitated $3 billion in trades between 2017 and 2019, collecting nearly $30 million in revenue.