- Crypto majors fell 3-5% after a hot CPI report, with Bitcoin dropping to $80,900 and over $900 million in longs liquidated.
- Solana will activate Alpenglow on mainnet October 21, cutting finality from 12.8 seconds to roughly 150 milliseconds.
- Papertrade flipped Circle in daily protocol revenue with $7.5 million, per DefiLlama.
- Kalshi’s CEO warned state-level oversight would drive prediction markets offshore.
- Circle’s USDC was designated the EU’s first “significant” e-money token under MiCA.
Crypto majors fell 3-5% after a hot Consumer Price Index report raised rate hike odds, with Bitcoin dropping to $80,900 and Ethereum sliding 6% to $2,360. The selloff liquidated over $900 million in longs over 24 hours, according to data, with altcoins down 5-15% and meme coins down 3-5%.
Solana will activate its Alpenglow upgrade on mainnet October 21, retiring the consensus mechanism it has used since launch. Finality drops from roughly 12.8 seconds to a target of about 150 milliseconds — 85 times faster.
The upgrade moves validator votes off-chain, meaning Solana’s reported TPS figures will fall sharply despite no change in real activity. Anza, the core developer behind Alpenglow, called it “18 months of work for a migration that happens in one slot.”
Papertrade flipped Circle in daily protocol revenue with $7.5 million, the highest of any onchain protocol, followed by Hyperliquid at $2.64 million, per DefiLlama data.
Kalshi CEO Tarek Mansour said state-led oversight would push prediction markets offshore, telling DC Fintech Week the court fight is “a choice of whether prediction markets exist in the U.S. or whether they go offshore.”
Hyperliquid founder Jeff Yan told Bloomberg that U.S. regulators should police firms building on his blockchain rather than the network itself, arguing “the deployers are the ones that exercise these controls.”
The European Banking Authority designated Circle’s USDC as the EU’s first “significant” e-money token under MiCA, with direct supervision beginning November 12. Polygon Labs closed its acquisition of Coinme, picking up licenses covering 48 states.
Sberbank, Russia‘s largest bank, won approval to trade crypto for its 110 million retail clients with a December 1 launch planned. HEX founder Richard Heart was detained in Istanbul on an Interpol Red Notice sought by Finland over aggravated tax fraud.
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