Crypto Pulse Report

South Korean bank launches Bitcoin-backed loans for corporate clients South Korea’s Jeonbuk Bank has introduced Korean won-denominated loans backed by Bitcoin collateral, reportedly becoming the first domestic bank to offer this type of financing. The program is initially limited to corporate borrowers and is intended for business operating expenses. Bitcoin is the only supported collateral asset at launch. The bank itself does not directly custody the Bitcoin. Registered third-party digital-asset custodians hold the collateral, while new court-supervised liquidation procedures apply if a borrower defaults. No public figures for loan volume, interest rates or loan-to-value ratios were disclosed, so the scale of the program is not yet known. Why it matters: this brings Bitcoin closer to conventional banking infrastructure by allowing companies to use BTC as collateral for fiat credit without selling the asset. Source: Edaily #Bitcoin #SouthKorea #CryptoLoans #BitcoinCollateral #CryptoBanking #DigitalAssets #CorporateFinance

iPhone spyware found targeting crypto wallet data Security researchers at iVerify identified a new iPhone spyware variant called P7 DarkSword that can search compromised devices for installed crypto wallet apps and collect wallet-related data. The malware includes functions called wallet_scan and wallet_extract. Researchers say it can also access Keychain credentials, Apple Notes, photos and other files on an already-compromised device. An important detail: the spyware checks its command-and-control server every 15 seconds for instructions. That does not mean funds are being stolen every 15 seconds. Researchers also did not report confirmed crypto losses caused by this variant. Practical takeaway: keep iOS fully updated, avoid unknown configuration profiles and suspicious links, and treat any sign of device compromise seriously if the phone also stores wallet credentials or recovery information. Source: iVerify #CryptoSecurity #iPhoneSecurity #Spyware #CryptoWallet #Cybersecurity #MobileSecurity #WalletSecurity

The $0.001 trap: low price does not mean cheap crypto A token trading at a fraction of a cent can still be more highly valued than a token worth $100. The unit price tells you almost nothing without knowing the supply. Take a hypothetical token priced at $0.001 with 10 billion tokens circulating. Its market cap is already $10 million. If total supply eventually reaches 100 billion tokens, its fully diluted valuation would be $100 million at the same price. That is why two numbers matter immediately: market cap = price × circulating supply, while FDV = price × total supply. A large gap between the two can reveal substantial supply that has not yet entered circulation. CoinGecko Then investigate the part many buyers overlook: token unlock schedules, insider allocations, liquidity, holder concentration and actual demand. Future unlocks can create dilution, although they do not automatically mean the token price will fall. Rule to remember: never ask only, “Can this coin reach $1?” Ask what market capitalization it would require at $1 — and whether that valuation makes sense. Disclaimer: This is for informational purposes only and is not financial advice. Crypto assets are highly volatile and you can lose all invested capital. Always do your own research. Source: CoinGecko #CryptoEducation #Tokenomics #MarketCap #FDV #CryptoInvesting #Altcoins #DYOR

UPDATE — Ledger confirms hardware implant in one affected reseller device Ledger’s investigation into wallet losses linked to Southeast Asian reseller CryptoBilis has produced an important new finding: the company says one affected device contained an unauthorized physical hardware implant. That materially changes the investigation because physical tampering is now confirmed in at least one device. However, it does not prove that every affected wallet was modified, nor does it establish the cause of every reported loss or indicate a systemwide compromise of Ledger’s infrastructure. CryptoBilis has suspended sales of hardware-wallet inventory while the investigation continues. Ledger has advised recent customers who have not initialized their devices not to do so, while concerned users of already configured devices should consider transferring assets to a genuine new device using a freshly generated recovery phrase. Practical takeaway: buying a hardware wallet from a trusted supply chain matters. Never use a recovery phrase supplied with a device, and treat unexpected packaging, initialization behavior or preconfigured credentials as major warning signs. Source: Ledger Support #Ledger #HardwareWallet #CryptoSecurity #SupplyChainSecurity #CryptoWallet #Cybersecurity #BitcoinSecurity

Securitize brings 12 U.S. stocks onchain via Solana Securitize has launched Securitize Stocks, offering blockchain-based security entitlements linked to 12 U.S. equities, including Apple, Nvidia, Microsoft, Tesla and Amazon. Each entitlement is backed 1:1 by an underlying share, while trading and settlement are handled through Securitize’s regulated infrastructure. The initial launch uses Solana, with transactions settled in USDC. Trading begins during extended U.S. market hours. Broader 24/7 access and additional venues have been discussed for the future, but those expansions are not live yet. Why it matters: tokenized equities are moving from experimental wrappers toward regulated brokerage infrastructure, creating a stronger bridge between traditional securities and onchain settlement. Source: Securitize #Securitize #Solana #TokenizedStocks #RWA #USDC #Tokenization #OnchainFinance #DigitalAssets

$1.25B exits U.S. crypto ETFs in one week U.S. spot crypto ETFs recorded roughly $1.25 billion in combined net outflows during the October 5–9 trading week. Bitcoin ETFs accounted for about $681.1 million in net withdrawals, while Ethereum ETFs lost roughly $542.1 million. Solana ETFs also posted approximately $24.8 million in outflows. Ethereum funds extended their losing streak to nine consecutive trading days of net outflows, while Solana ETFs ended a 14-week run of weekly inflows. Why it matters: ETF flows offer a clean view of demand through regulated investment products. This week showed broad risk reduction across BTC, ETH and SOL products rather than weakness isolated to a single asset. Source: Farside Investors #BitcoinETF #EthereumETF #SolanaETF #CryptoETF #Bitcoin #Ethereum #Solana #InstitutionalCrypto

CME vs CFTC: the fight over Bitcoin perpetual futures A major U.S. regulatory battle is unfolding over Bitcoin perpetual futures. CME sued the Commodity Futures Trading Commission after the regulator approved Kalshi’s Bitcoin perpetual contract and established a path for similar products. CME argues that these instruments should legally be treated as swaps rather than conventional futures. The distinction matters because perpetual futures have no fixed expiration date and normally rely on mechanisms such as funding payments to keep their price aligned with the underlying asset. They have become one of the dominant ways crypto traders obtain leveraged exposure globally. The CFTC disputes CME’s interpretation, and the case remains unresolved. No final court ruling has been announced. Why it matters: the eventual decision could influence how perpetual crypto products are classified, regulated and offered to U.S. traders — potentially shaping one of crypto’s largest derivatives markets. Source: CFTC #Bitcoin #PerpetualFutures #CryptoDerivatives #CFTC #CME #CryptoRegulation #BTC

One year ago: crypto suffered a record $19B liquidation cascade On October 10, 2025, crypto markets experienced one of the largest forced-deleveraging events in their history, with more than $19 billion in leveraged positions liquidated within 24 hours. Galaxy Research says roughly 1.62 million trading accounts were liquidated as a sudden escalation in U.S.–China tariff tensions triggered a rapid selloff. Bitcoin fell from around $122,000 into the low $106,000s before recovering part of the move. The scale of the event was amplified by thin liquidity and heavy leverage. As positions were automatically closed, forced selling pushed prices lower, triggering additional liquidations in a feedback loop. The lesson one year later: leverage can turn a normal market decline into something far more violent. A position can be directionally correct over the long term and still be wiped out if leverage leaves no room for volatility. Disclaimer: This is for informational purposes only and is not financial advice. Crypto assets are highly volatile and leveraged trading can result in rapid losses. Source: Galaxy Research #Bitcoin #CryptoLiquidations #CryptoMarket #BTC #Leverage #CryptoTrading #RiskManagement

Ledger reseller alert: wallet losses under investigation Ledger is investigating reports of crypto disappearing from wallets purchased through CryptoBilis, a reseller operating in Southeast Asia. The company asked the reseller to suspend sales and shipments while the investigation continues. Independent blockchain researchers have estimated more than $86 million in suspected losses across Bitcoin, Ethereum and TRON. However, Ledger has not confirmed that figure, the number of affected customers or the cause of the losses. Ledger also says there is currently no confirmed evidence that its core security infrastructure was breached or that devices were tampered with. Customers who bought a device through the reseller within the previous 90 days were advised not to initialize unused devices; users already using one were told to consider moving assets to a new genuine device with a newly generated recovery phrase. Why it matters: hardware-wallet security does not end with the chip or software. The supply chain — where and how a device is purchased — can be just as important. Source: CoinDesk #Ledger #HardwareWallet #CryptoSecurity #BitcoinSecurity #Cybersecurity #CryptoWallet #DigitalAssets

XRP Ledger reveals decade-old flaw that could have created new XRP The XRP Ledger has disclosed a critical payment-engine vulnerability that could theoretically have allowed an attacker to create spendable XRP beyond the network’s intended fixed supply. The bug involved an integer overflow when processing a deliberately constructed payment through hundreds of abnormal order-book offers. XRPL says the flaw had likely existed since the current payment engine was introduced around 2015 — but there is no evidence it was ever exploited on any public network. The issue was reported through the XRPL Bug Bounty program on September 22. A fix was shipped in the emergency xrpld 3.4.1 release on September 25, and more than 80% of validators on the default UNL had upgraded that same day, protecting the network. The patch now prevents the vulnerable calculations from overflowing and strengthens XRP supply-integrity checks to catch similar failures in the future. Why it matters: this was a potentially severe protocol-level flaw, but the distinction is crucial: researchers demonstrated the exploit in testing, not on the live public network. The discovery also shows why long-running blockchains still require continuous audits, bug bounties and adversarial testing. Source: XRP Ledger #XRPL #XRP #CryptoSecurity #BlockchainSecurity #Cybersecurity #BugBounty #DigitalAssets

A $0.001 coin is not necessarily “cheap” One of the most common crypto mistakes is judging a project by token price alone. A token trading at $0.01 with 100 billion circulating tokens already has a $1 billion market capitalization. Another token can trade at $100 with only 1 million tokens and have a market cap of just $100 million. The $100 token is actually valued at one-tenth as much. That is why the first numbers to check are market cap, circulating supply and fully diluted valuation (FDV) — not simply whether the token costs cents. CoinGecko defines market cap as current token price × circulating supply, while FDV estimates valuation using the broader total supply. Then look deeper: How many tokens are still locked? When are unlocks? Who owns the supply? Is liquidity deep enough? Is the network actually being used? A huge difference between market cap and FDV can indicate significant future dilution as locked tokens enter circulation. Rule to remember: a low token price can create the illusion of enormous upside. Valuation and supply tell you whether that upside is mathematically realistic. Disclaimer: This is for informational purposes only and is not financial advice. Crypto assets are highly volatile and you can lose all invested capital. Always do your own research. Source: CoinGecko #CryptoInvesting #CryptoStrategy #MarketCap #Tokenomics #FDV #Altcoins #CryptoEducation

Ethereum whale wakes up after more than 10 years An Ethereum address holding 12,746 ETH has become active after roughly 10.2 years of inactivity, according to blockchain tracker Whale Alert. The wallet dates back to Ethereum’s early era and had remained untouched for more than a decade. What matters most: the owner’s identity, destination of the funds and intention behind the activity are currently unknown. There is no verified evidence that the ETH is being sent to an exchange or sold. Dormant whale movements attract attention because old wallets can control substantial supply. But activation alone is not a sell signal — early holders sometimes move assets for security, custody, staking or simple wallet reorganization. Why it matters: blockchain transparency lets the market see when long-dormant capital starts moving again, but interpreting those movements requires separating confirmed on-chain activity from speculation about what the owner will do next. Source: Crypto Briefing #Ethereum #ETH #CryptoWhale #OnChain #Blockchain #CryptoMarket #WhaleAlert

Crypto ETFs post $1.22B in weekly net outflows U.S. spot Bitcoin and Ethereum ETFs recorded a combined $1.22 billion in net outflows during the trading week ending October 9, based on Farside Investors data. Bitcoin ETFs accounted for $678.9 million, while Ethereum ETFs lost $542.2 million. Farside Investors Bitcoin funds showed a late-week shift: after $244.1 million exited on Thursday, they returned to a modest $21.1 million net inflow on Friday, led by BlackRock’s IBIT with $22.4 million. Farside Investors Ethereum ETFs remained under pressure, recording $56.1 million in Friday outflows — entirely from BlackRock’s ETHA — marking a fifth consecutive trading day of net withdrawals. Farside Investors Why it matters: ETF flows provide a useful snapshot of demand through regulated investment products. This week showed persistent institutional selling pressure, although Bitcoin’s Friday reversal suggests flows were beginning to diverge between BTC and ETH products. Source: Farside Investors #Bitcoin #Ethereum #CryptoETF #BitcoinETF #EthereumETF #BTC #ETH #InstitutionalCrypto

Ledger investigates fund-loss reports linked to Southeast Asian reseller Ledger says it is investigating reports of missing crypto funds from customers who purchased devices through CryptoBilis, a reseller serving parts of Southeast Asia. As a precaution, Ledger asked CryptoBilis to pause all sales and shipments while the investigation continues. coindesk.com Customers who bought a device from the reseller within the last 90 days have been advised not to set it up yet. Those already using one should consider moving assets to a new Ledger signer with a newly generated recovery phrase. Decrypt On-chain researchers have estimated potential losses above $86 million, but Ledger has not confirmed the amount, the cause, the number of affected users, or whether supply-chain tampering occurred. There is also no verified evidence at this stage of a breach in Ledger’s core wallet technology. Decrypt Why it matters: hardware wallets depend not only on cryptography, but also on a trusted supply chain. Any confirmed compromise before a device reaches the customer would underline the importance of device authenticity and secure initialization procedures. Source: Ledger Support statement via CoinDesk #Ledger #CryptoSecurity #HardwareWallet #CryptoWallet #Cybersecurity #BitcoinSecurity #DigitalAssets

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EU ministers back narrower ESMA oversight for major crypto firms EU finance ministers have reached a political agreement on a new market-supervision framework that would give ESMA direct oversight of only the most significant cross-border crypto-asset service providers, rather than every major EU crypto firm. The Council’s position replaces the European Commission’s broader proposal with a more targeted regime. Reuters reports that roughly 10–15 of around 360 EU crypto firms could ultimately fall under direct ESMA supervision. The package would also expand the EU’s existing DLT Pilot Regime, allowing more blockchain-based financial-market infrastructure to operate inside a regulated sandbox. This is not yet law. The Council must formally adopt its negotiating position, and negotiations with the European Parliament will follow before any final legislation is agreed. Why it matters: the EU is still moving toward more centralized crypto supervision, but the latest compromise is materially narrower than the original proposal — reducing the number of firms that could face direct ESMA oversight. Source: Council of the European Union #CryptoRegulation #ESMA #EuropeanUnion #MiCA #CryptoEurope #DigitalAssets #BlockchainRegulation

Thailand finalizes crypto ETF framework for Bitcoin and Ethereum Thailand’s Securities and Exchange Commission has issued final rules for domestic crypto ETFs, with the framework taking effect on October 16, 2026. In the initial phase, eligible underlying assets are limited to Bitcoin and Ethereum. The ETFs must operate as passive vehicles tracking a single crypto asset and maintain average net exposure of at least 80% of NAV to that asset over each accounting year. Digital assets must be held by SEC-regulated custodians. Crypto ETFs will be listed and traded exclusively on the Stock Exchange of Thailand, with added investor-risk disclosures and suitability requirements. The new rules also allow Thai mutual and private funds to invest in domestic crypto ETFs within existing limits. Why it matters: Thailand is moving crypto exposure further into its regulated capital-markets structure, giving traditional investors a supervised route to BTC and ETH without requiring direct custody. Source: Thailand SEC #Bitcoin #Ethereum #CryptoETF #Thailand #BTC #ETH #CryptoRegulation #DigitalAssets

$1.19B in crypto positions liquidated as leverage unwinds Crypto markets saw roughly $1.19 billion in liquidations over 24 hours, with more than $1 billion coming from long positions as leveraged traders were forced out during a sharp market move. coindesk.com Ethereum took the largest hit, with about $356 million in ETH positions liquidated, compared with roughly $298 million in Bitcoin. ETH’s liquidation burden was especially heavy relative to its smaller market capitalization. coindesk.com Bitcoin briefly fell toward $80,400 before recovering above $82,000, while Ether traded near $2,490 after losing more than 3%. coindesk.com Why it matters: liquidation cascades can amplify volatility because forced position closures add additional selling or buying pressure to already fast-moving markets. Source: CoinDesk #Bitcoin #Ethereum #CryptoMarket #CryptoLiquidations #BTC #ETH #CryptoTrading

XRPL activates permission delegation on mainnet The XRP Ledger has activated PermissionDelegationV1_1, enabling accounts to grant narrowly defined permissions to separate accounts without handing over their primary signing keys. xrpl.org Using the new DelegateSet transaction, an account can grant, modify or revoke specific permissions. Each delegate can receive up to 10 individual permissions, covering selected transaction types or more granular actions. xrpl.org For businesses and token issuers, this makes it possible to separate operational roles — such as payments, trustline management or compliance workflows — while keeping more sensitive account credentials offline. Delegated transactions are signed and paid for by the delegate account. xls.xrpl.org One caution remains: XRPL documentation currently recommends not delegating the PaymentBurn granular permission until the separate fixCleanup3_4_0 amendment is enabled. Other granular permissions are unaffected. xrpl.org Why it matters: permission delegation adds more enterprise-grade account controls to XRPL, making operational separation and restricted access easier without sharing master keys. Source: XRP Ledger Documentation #XRPL #XRP #XRPledger #Blockchain #CryptoInfrastructure #DigitalAssets #Web3

Securitize launches 1:1-backed tokenized U.S. stocks on Solana Securitize has launched Securitize Stocks, bringing tokenized exposure to 12 U.S. equities — including Apple, Microsoft, Nvidia, Tesla, Amazon and Meta — onto Solana for eligible investors in the U.S., EU and other permitted markets. prnewswire.com Unlike tokens that simply track a stock price, each product is structured as a security entitlement backed 1:1 by an underlying share, with applicable economic and shareholder rights such as dividends and voting rights. The Block Trading takes place through Securitize’s registered broker-dealer infrastructure, with USDC settlement and Jump Trading providing market making. Access initially covers extended U.S. market hours, while 24/7 trading is planned for the future. The Block Why it matters: tokenized equities are moving closer to regulated brokerage infrastructure rather than remaining synthetic blockchain representations. That could strengthen the link between traditional securities and on-chain capital markets. Source: Securitize #TokenizedStocks #Solana #Securitize #RWA #USDC #Tokenization #OnchainFinance