VanEck has introduced staking for its Solana Exchange Traded Note (ETN) in Europe, which currently has assets under management (AUM) totaling $73 million.
The Solana ETN, which trades under the ticker VSOL, will now enable investors to benefit from staking rewards that will be accrued and reinvested daily.
A Non-Custodial Staking Model
The announcement was made by VanEck’s Head of digital asset research, Mathew Siegel, in an October 21 post on X. According to him, the rewards will be included in the End-of-Day Net Asset Value (NAV) of the ETN, ensuring that investors can maintain daily liquidity.
An accompanying document reveals that the staking process for the Solana ETN is entirely non-custodial. It means that the owner of the assets retains complete control over the

Minneapolis Federal Reserve President Neel Kashkari has found himself on the wrong end of a backlash after stating that most cryptocurrency transactions involve drugs or illegal activities.
The comment from the official, a known crypto skeptic, did not go unchallenged, with several members of the community calling him out for it.
Fed Official Says Crypto Mostly Used for Illegal Activity
Kashkari was at a town hall meeting in Chippewa Falls, Wisconsin, when a member of the audience asked whether the Fed had the capacity to collect data on crypto transactions since most of them happened “outside of the formal channels.”
While acknowledging that the agency was pioneering new data sources to keep abreast of the happenings in the sector, Kashkari said that despite crypto’s

WazirX founder Nischal Shetty has responded to allegations that the company transferred $75 million worth of crypto assets to two major exchanges without informing users.
The situation arose after the Indian crypto platform disclosed more than 240,000 wallet addresses as part of the requirements of a four-month moratorium granted to it by a Singapore court following a $235 million hack in July.
CoinSwitch’s Accusation
Unpacking the disclosure in an October 21 post on X, CoinSwitch chief executive Ashish Singhal said his team had created a system to make it easier for WazirX users to sift through the voluminous information that had been made available.
He noted his firm’s interest in the matter stems from the fact that it holds Indian rupee and virtual digital assets (VDA)

Fintech giant Stripe has finalized a deal to acquire stablecoin platform Bridge for $1.1 billion.
This purchase marks the largest acquisition in the crypto industry to date.
Record $1.1 Billion Deal
TechCrunch founder Michael Arrington revealed the news in a post on X, stating, “This deal is done. $1.1b.”
Bridge, co-founded by Sean Yu and Zach Abrams, provides software tools enabling businesses to accept payments in stablecoins. The platform allows companies to create, store, send, and receive such assets.
Zach Abrams previously served as Head of Consumer at Coinbase and founded the peer-to-peer payments company Evenly, which was later acquired by Square. Before co-founding Bridge, Sean Yu held key engineering roles at major companies such as Coinbase, Square, DoorDash,

The Hong Kong Police Force (HKPF) has dismantled a massive cross-border fraud operation that used deep fake technology to con men into phony cryptocurrency investments.
The scam targeted men through fake online romances, with the victims reportedly being conned out of approximately $46 million.
27 Arrested in Raid on Fraud Center
Local media reports revealed that the police identified a group operating from a fraud center located in a Hung Hom industrial unit between August and September 2024. On October 9, the authorities raided the 4,000-square-foot facility, arresting 27 individuals, including 21 men and 6 women aged between 21 and 34.
Law enforcement officers also seized computers, mobile phones, luxury watches, and approximately $25,750 in suspected crime proceeds

A new “State of Crypto” report by venture capital firm Andreessen Horowitz (a16z) shows that the blockchain space achieved all-time highs for usage and activity.
According to the paper, 220 million addresses interacted with a blockchain at least once in September 2024, a figure three times higher than that recorded at the end of 2023.
Solana Has Largest Number of Active Users
Most of the activity came from Solana, which logged 100 million active users, followed by NEAR, which had 31 million. Coinbase’s Layer 2 (L2) network, Base, was third, with 22 million wallets engaging it at least once, while 14 million interacted with Justin Sun’s Tron network.
For its part, Bitcoin cataloged 11 million unique users, followed in sixth place by Binance’s BNB Chain, which had a million

On October 15, 2024, Juan Tacuri, a senior promoter of the cryptocurrency Ponzi scheme Forcount, was sentenced to 20 years in federal prison and one year of supervised release.
The Florida resident was also ordered to forfeit a home bought with scam proceeds, $3.6 million in assets, and pay an equivalent amount in restitution to victims.
Details of the Scam
Court documents revealed that Forcount operated globally, defrauding thousands of victims with a particular focus on Spanish-speaking communities in the United States. Later rebranded as Weltsys, the scam lured investors with false promises of guaranteed profits from cryptocurrency mining and trading.
Tacuri and his fellow promoters enticed targets to invest by offering promises of substantial returns, including claims

Chirag Tomar, a 31-year-old Indian citizen, was sentenced to five years in federal prison for orchestrating a cryptocurrency fraud scheme that defrauded hundreds of victims out of more than $20 million.
U.S. District Judge Kenneth D. Bell handed down the sentence, which also included two years of supervised release.
Scammers Imitate Coinbase to Steal Millions
According to court documents, Tomar and his co-conspirators executed the fraud by “spoofing” a website designed to imitate the legitimate cryptocurrency exchange Coinbase.
From June 2021, the group set up a fraudulent version of the exchange’s professional trading site, Pro.Coinbase.com, using a fake URL, CoinbasePro.com. Victims who attempted to log into their Coinbase accounts were tricked into providing their login

U.S. Vice President Kamala Harris has pledged to support digital asset policies that protect crypto investors, especially black men participating in the sector.
The promise was part of a wide-ranging agenda targeting men of color whom the Democratic flagbearer’s team believes could be pivotal in the November presidential elections.
Securing Black Male Voters via Crypto
In an October 14 release, the Harris campaign promised their candidate would create a conducive crypto regulatory framework to protect “black men and others” who participate in the market.
Harris pointed out that 20% of black people in the United States own or have previously possessed crypto assets. She also acknowledged the role these “new technologies” were playing in broadening their access to affordable

BlackRock CEO Larry Fink said Bitcoin (BTC) is an asset class, comparing its investment potential to that of gold.
In a recent earnings call, Fink emphasized that the world’s largest asset manager now views Bitcoin as an alternative to traditional commodities.
Bitcoin Is an Asset Class
“We believe Bitcoin is an asset class in itself. It is an alternative to other commodities like gold,” the 71-year-old said during the call, highlighting that BlackRock is discussing potential allocation with global institutions.
Fink also stressed that the future success of digital assets will not rely solely on regulation. He claimed that liquidity and transparency will be more crucial in determining the market’s evolution.
The CEO compared the current landscape of virtual assets and the

Crypto payments company Ripple has revealed its preliminary exchange and market maker partners for the launch of its dollar-pegged stablecoin Ripple USD (RLUSD).
The exchange partners are Bitstamp, Bitso, Bullish, CoinMENA, Independent Reserve, MoonPay, and Uphold. In addition, B2C2 and fellow market maker Keyrock will provide liquidity support for RLUSD.
Advisory Appointments
“With our initial exchange partners, clear utility and demand for RLUSD, and a strong focus on regulatory compliance, Ripple’s stablecoin is poised to become the gold standard for enterprise-grade stablecoins,” Ripple CEO Brad Garlinghouse said during the announcement.
He added that its payment solutions will leverage RLUSD for faster and more reliable cross-border transactions.
The firm also

Monochrome Asset Management is preparing to launch Australia’s first spot Ethereum exchange-traded fund (ETF) on the Cboe exchange following the asset’s approval in the U.S. market.
The Monochrome Ethereum ETF (IETH), which will begin trading on Monday, October 14, offers Australian investors a new way to access the cryptocurrency.
Details Of The New Offering
“Monochrome hosted a private event in Sydney this week with our service providers, team, and partners to mark the upcoming launch of the Monochrome Ethereum ETF,” the company revealed in an October 11 post on X.
IETH will be accessible through most Australian brokerage platforms and will support transfers from crypto platforms as well as decentralized and cold storage wallets. Like its U.S. competitors, the product

A man is suing Newport Council for nearly 500 million pounds to recover 8,000 Bitcoin (BTC), which he claims he lost due to a mix-up that led to his hard drive being disposed of at a recycling center in 2013.
James Howells has filed the lawsuit as a “last resort” after more than ten years of what he describes as being “largely ignored” by the council.
The Lost Bitcoin
According to local media reports, Howells is seeking just under half a billion pounds, which translates to $646.4 million. This represents the highest valuation of his Bitcoin holdings from earlier in the year when the cryptocurrency hit an all-time high (ATH) price of $73,737.
However, he emphasized that the amount does not reflect the actual situation. Instead, it aims to “leverage” the council into

An 86-year-old former attorney, David Kagel, has been sentenced to five years of probation for organizing a multimillion-dollar cryptocurrency Ponzi scheme that defrauded investors out of nearly $15 million.
The judgment, filed on October 8 in a Las Vegas federal court, also requires him to pay $14 million in restitution to his victims.
$15M Crypto Ponzi Scheme
U.S. District Judge Gloria Navarro handed down the sentence following Kagel’s guilty plea to one count of conspiracy to commit commodity fraud in May.
Court documents reveal that the scheme, which ran from December 2017 to June 2022, involved misleading investors into believing they were putting money into a cryptocurrency bot trading program that promised high returns and minimal risk.
According to prosecutors,

U.S. authorities, including the Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Department of Justice (DOJ), have charged Gotbit and four other crypto firms with widespread market manipulation.
The charges also roped in several individuals who worked for the offending organizations.
Market Makers Accused of Running Wash Trading Scheme
According to a statement the SEC issued on October 9, Gotbit, ZM Quant, CLS Global, and MyTrade MM used bots to inflate trading volumes on centralized exchanges (CEXs) through wash trading.
A parallel statement from the Massachusetts U.S. Attorney’s office included popular meme coin projects Saitama and Robo Inu among those with complaints issued against them.
The SEC claims that the named

Donald Trump’s crypto project, World Liberty Financial (WLF), has submitted a proposal to the Aave governance forum. The former president and his business partners plan to use the platform for their cryptocurrency offering.
The submission aims to establish WLF’s services as an instance on Aave, with the protocol providing the necessary underlying infrastructure. In return, AaveDAO will receive 20% of all protocol fees generated by WLF and 7% of the supply of WLFI, the project’s governance token.
WLFI Tokens Will Be Earned as Rewards
Additionally, the new proposal states that users will earn the WLFI tokens as rewards for participating in World Liberty liquidity pools. However, questions still remain about how AaveDAO will manage the custody of WLFI tokens and distribute

Renowned economist and outspoken Bitcoin skeptic Peter Schiff took to X on October 9 to weigh in on the U.S. government’s impending sale of 69,370 Bitcoin, worth roughly $4.3 billion.
His post sparked lively responses from Bitcoin supporters and critics alike, reigniting debates over the virtual asset’s value.
Silk Road Bitcoin Up For Grabs
Schiff’s tweet follows a Supreme Court decision that cleared the way for the U.S. government to sell Bitcoin it seized from the defunct Silk Road marketplace. As a result, the government has announced its intention to liquidate the coins, which had been tied up in legal proceedings.
The Echelon Wealth co-founder, known for his preference for gold, seemed to sarcastically suggest that MicroStrategy CEO Michael Saylor should borrow $4.3

South Korea’s Ministry of Strategy and Finance announced on October 8 that it is reviewing measures to regulate stablecoins more strictly.
This decision comes amidst increasing criticism that stablecoins are emerging as a hidden threat in the foreign exchange landscape due to inadequate government oversight.
Rising Cross-Border Use and Industry Criticism
According to local media reports, the Ministry highlighted that stablecoins are primarily used for transactions and exchanges in the virtual asset ecosystem, with their role in cross-border transactions increasing.
The officials believe that these functions may soon extend to being major payment and transaction means in the real economy.
The Financial Services Commission (FSC) has also decided to prioritize stablecoins in

Cardi B, took to her X account to promote a new meme coin named after her iconic track.
However, there have been concerns surrounding the promotion, with security experts suggesting the account may have been compromised.
Cardi B Shares $WAP Video
The rapper, who has been in the news lately after claims emerged that she had undergone surgery, set off events with an October 7 post on X with a picture of her holding a cat.
In the post, Cardi B, whose real name is Belcalis Marlenis Almanzar, referred to the cat as a “new family member.” She further asked her followers to guess its name.
Hours later, she made another post stating, “Her name is $WAP.” The tweet also contained a wallet address as well as a brief animated video seemingly promoting a meme coin.

The promotion

The National Bank of Bahrain (NBB) has launched the GCC region’s first Bitcoin-linked structured investment fund for institutional and accredited investors.
This product was developed in partnership with ARP Digital and is designed to provide a secure avenue for investors to capitalize on Bitcoin’s gains.
The Bitcoin Investment Fund
According to local media reports, the structured investment fund is capped at a predefined threshold and offers a unique opportunity for accredited investors to benefit from Bitcoin’s upward performance.
This design ensures that while investors can take advantage of Bitcoin’s growth, they also enjoy 100% capital protection against downturns. This serves as a hedge against the volatility typically associated with digital currencies.
Hisham

According to a September 7 report by Bloomberg, Premier League (PL) clubs have secured a record-breaking $170 million in sponsorship deals from crypto companies for the 2024/25 season.
This uptick comes as league participants face tightening restrictions on gambling sponsorships, which have traditionally been a major source of revenue for them.
Crypto Sponsorships on the Rise
Per the report, several top clubs have already signed major crypto deals. For instance, leading crypto exchange Kraken is sponsoring Tottenham Hotspur, La Liga’s Atlético Madrid, as well as RB Leipzig from the German Bundesliga.
Meanwhile, in June 2023, reigning Premier League champions Manchester City extended their partnership with OKX for three years in a deal that will cost the platform $70

A new Ethereum Improvement Proposal, EIP-7781, introduced on October 5, 2024, aims to reduce Ethereum’s block time from 12 seconds to 8 seconds.
The upgrade, introduced by Ben Adams, co-founder of Illyriad Games, could also enhance data capacity and potentially increase network throughput by 50%.
A Major Step for Ethereum’s Future
In an October 6 post on X, a developer pseudonymously known as Cygaar hailed EIP-7781 as the “first huge” step toward improving Ethereum’s L1 performance. They suggested that implementing it could reduce network bottlenecks and improve data capacity.
EIP-7781 is designed to expand the capacity of “blobs,” a temporary data structure that reduces fees on layer-2 (L2) networks.
The proposed changes aim to improve mainnet throughput while evenly

At the 2024 Tsinghua PBC Chief Economist Forum, former Chinese Vice Minister of Finance Zhu Guangyao urged China to re-evaluate its approach to the crypto industry.
He cited the evolving international stance on digital currencies, particularly in the United States, where the asset class has gained political support from key figures like U.S. presidential candidate Donald Trump.
Policy Shift
In his speech, Zhu acknowledged the risks and challenges posed by crypto but emphasized the need for China to study global trends and policy adjustments closely.
“It does have negative effects, and we must fully recognize its risks and harm to the capital market,” he said. “But we must study the latest international changes and policy adjustments because it is a crucial aspect of the

WalletConnect has warned crypto users about a fake app previously available on the Google Play Store.
In a September 29 post on X, the organization behind the open-source protocol that enables secure connections between crypto wallets and decentralized applications (dApps) said the offending app has since been removed from Google Play, but not before it reportedly stole more than $70,000 worth of crypto from unsuspecting users.
Malicious App Targeted Mobile Users
The issue first came to light on September 26 when cybersecurity outfit Check Point Research (CPR) published a lengthy report about it. In its write-up, CPR claimed that the fake app had posed as a legitimate crypto tool, exploiting the trust of the WalletConnect name and going undetected on the Google Play Store

U.S. authorities have charged Russian citizens Sergey Sergeevich Ivanov and Timur Shakhmametov for allegedly operating a cryptocurrency money laundering service tied to Russian cybercrime.
The U.S. Department of State has issued a $10 million bounty for information leading to the arrest or conviction of each.
International Crackdown on Russian Cybercrime
The United States Treasury, in coordination with international partners, announced it had taken action to disrupt the operations of PM2BTC and Cryptex, two digital currency exchanges linked to large-scale money laundering operations benefiting ransomware actors and other cybercriminals operating out of Russia.
Its Financial Crimes Enforcement Network (FinCEN) has designated PM2BTC, associated with Ivanov, as a “primary

A digital asset lobby group backed by Coinbase, Stand With Crypto, has been forced to change its crypto-friendly ranking of Democratic presidential candidate Kamala Harris.
The group, which runs a website that ranks the level of support U.S. politicians have shown for crypto, had characterized Harris as “Supports Crypto,” giving her a “B” grade.
Group Deemed Harris’ New York Remarks Supportive of Crypto
The ranking followed remarks the Vice President made on September 22 at a New York fundraiser. She said she would encourage innovative technologies, including artificial intelligence and digital assets. She also promised to cut unnecessary bureaucracy, which many feel has been a hallmark of crypto regulation in the United States.
Stand With Crypto determined that the

A Coinshares report has revealed that the role of Ethereum (ETH) in crypto is being shaped by two main pillars: marketplaces and stablecoins.
However, while the network is making waves in these areas, the path forward for new applications remains unclear.
Decentralized Exchanges Dominate
The report, released on September 24, indicated that marketplace and stablecoins made up slightly more than half of Ethereum’s current use cases. Decentralized Finance (DeFi) protocols and the booming stablecoin market are the key drivers of the trend, highlighting Ethereum’s role as the backbone infrastructure for so many crypto projects.
Per the study, marketplaces such as decentralized exchanges (DEXs) and Non-Fungible Tokens (NFT) platforms have cemented the network’s position as the

A Singapore court has reportedly granted a four-month moratorium to Indian cryptocurrency exchange WazirX, following the company’s request for a temporary reprieve.
The moratorium, however, comes with some conditions, including full transparency of the exchange’s wallet addresses and financial records.
Court’s Conditions
This development comes after WazirX was hit by a massive hack in July, which resulted in the loss of $234 million, affecting 45% of its customers’ funds. According to a statement viewed by CoinDesk, the conditions include submitting a court affidavit revealing all wallet addresses associated with WazirX.
Additionally, the exchange is required to release its book of accounts within six weeks and respond to all users’ queries during this period. The court

Federal prosecutors have indicted New York City Mayor Eric Adams following corruption investigations that have triggered the retirements and resignations of several members of his administration.
Adams, a former police captain, made the headlines in 2021 when he pledged to take his first three paychecks in Bitcoin (BTC) when he became mayor.
Charges Remain Unclear
According to reports from the New York Times, it is still unclear what Adams is being charged with since the indictments were sealed.
News of an investigation into the mayor surfaced in November 2023 when FBI agents raided the home of Brianna Suggs, his chief campaign fundraiser. The raid was part of an investigation into whether Turkish government agents had donated to Adams’s mayoral campaign through

Caroline Ellison was sentenced to two years in federal prison on Tuesday for her involvement in the FTX fraud scandal.
The 30-year-old was also ordered to forfeit $11 billion, which she earned through her association with the now-collapsed cryptocurrency exchange.
Ellison’s Cooperation
Judge Lewis A. Kaplan, who presided over the case, acknowledged the former Alameda Research CEO’s cooperation with the prosecution, “I’ve never seen a cooperator quite like Miss Ellison,” he remarked. Despite this, Kaplan emphasized that the scale of the FTX fraud meant she could not avoid prison time. “Cooperation isn’t a ‘get out of jail free’ card in a case of this magnitude,” he added.
Her sentence includes three years of supervised release upon completing her prison term, which she