分类： Ethereum

• The infection includes at least 10 major crypto packages linked to the ENS ecosystem.
• A previous NPM attack in early September resulted in 50 million dollars in stolen crypto.
• Researchers found more than 25,000 affected repositories during the investigation.

A new round of NPM infections has triggered concern across the JavaScript community as the Shai Hulud malware continues to move through hundreds of software libraries.

Aikido Security has confirmed that more than 400 NPM packages have been compromised, including at least 10 widely used across the crypto ecosystem.

The scale of the issue places developers under immediate pressure to assess the risk, especially those working with blockchain tools and applications.

The disclosure came on Monday when Aikido Security released a detailed list of contaminated libraries following a review of unusual behaviour on NPM.

A separate post from researcher Charles Eriksen also highlighted the infection list on X, drawing attention to key ENS packages involved in the incident.

The infections appear to be tied to an active supply chain attack that has been unfolding in recent weeks, adding momentum to a pattern of escalating security incidents within JavaScript infrastructure.

Threat expands beyond earlier NPM attacks

The surge in infections follows a major NPM breach in early September. That earlier case ended with attackers stealing 50 million dollars worth of crypto, making it one of the largest supply chain incidents linked directly to digital asset theft.

According to Amazon Web Services, the attack was followed within a week by the appearance of Shai Hulud, which began spreading autonomously across projects.

While the initial September incident targeted crypto assets directly, Shai Hulud operates differently. It focuses on collecting credentials from any environment that downloads an infected package. If wallet keys happen to be present, they are treated like any other secret and extracted.

This shift in behaviour makes the new incident broader in scope.

Instead of aiming at a single objective, the malware integrates itself into developer workflows and moves through dependency chains, increasing the chance of accidental exposure across both crypto and non-crypto projects.

ENS packages heavily affected

The crypto packages affected in the latest review show a clear concentration around the Ethereum Name Service ecosystem. Several ENS-related libraries, many with tens of thousands of weekly downloads, appear on the compromised list.

These include content-hash, address-encoder, ensjs, ens-validation, ethereum-ens, and ens-contracts.

To support the findings, Eriksen shared a detailed X post outlining the compromised ENS packages. Shortly after, a second X update from Eriksen expanded on the wider spread of infections affecting additional repositories.

Each ENS package supports functions used across wallet interfaces, blockchain applications, and tools that convert human-readable names into machine-readable formats.

Their popularity means that the impact may stretch beyond direct maintainers to downstream developers who rely on them for core operations.

A separate crypto library, crypto-addr-codec, was also identified among the compromised packages. Though unrelated to ENS, it is used in wallet-related processes and carries high weekly traffic, making its contamination another priority area for security reviews.

Growing impact across non-crypto software

The spread is not limited to digital asset tools. Several non-crypto libraries have also been impacted, including packages associated with the workflow automation platform Zapier.

Some of these report weekly downloads well above forty thousand, indicating the malware has reached parts of the JavaScript ecosystem unrelated to blockchain activity.

Additional libraries highlighted in later posts show even higher levels of distribution. One package appeared close to seventy thousand weekly downloads.

Another recorded weekly traffic above one and a half million, reflecting a much wider footprint than early reports suggested.

The rapid expansion has drawn attention from other security teams. Researchers at Wiz stated that they had identified more than twenty-five thousand affected repositories linked to around three hundred and fifty users.

They also noted that one thousand new repositories were being added every thirty minutes in the early stages of the investigation.

This level of growth demonstrates how quickly supply chain contamination can accelerate when packages replicate across dependency networks.

Developers working with NPM have been advised to perform immediate checks, validating environments and scanning for possible exposure.

With dependency chains being interlinked across multiple industries, even teams outside the crypto sector could unknowingly integrate infected packages.

• Ether holders on the exchange can borrow up to $1M in USDC using ETH as collateral.
• That ensures access to liquidity/cash without selling their holdings.
• The service is available in all US states, excluding New York.

Leading exchange Coinbase has introduced a new feature that will likely reduce selling pressure amid the current broader crypto market turmoil.

The trading platform has launched Ethereum-backed loans, allowing users in most American states to access on-chain cash without offloading their holdings.

Notably, borrowers can use ETH assets as collateral and receive loans of up to $1,000,000 in USDC stablecoin.

The team has confirmed on X:

ETH-backed loans are here. You can borrow USDC against your Ethereum, unlocking liquidity without selling.

If you believe in somΞTHing, this one’s for you.

ETH-backed loans are here.

You can borrow USDC against your Ethereum, unlocking liquidity without selling.

Available now in the U.S. (ex. NY). pic.twitter.com/eOvJ2BWPfr

— Coinbase 🛡️ (@coinbase) November 20, 2025

This move is vital for Ethereum holders who want liquidity without dumping their tokens.

Rather than selling ETH and possibly missing out on potential price gains, Coinbase users can leverage their balances while keeping them intact.

How do ETH-backed loans work?

The process is straightforward. Users deposit Ethereum on their Coinbase accounts as collateral to borrow USDC.

They receive back their collateral after repayment.

Meanwhile, customers will enjoy top-notch flexibility.

Individuals can borrow while maintaining exposure to their holdings, access funds almost instantly, and leverage USDC for various on-chain activities, including day-to-day expenses and trading.

Nevertheless, borrowers should consider the fact that Ethereum’s price movements can impact their loans.

For instance, a swift decline in the alt’s value could demand increasing collateral to avoid liquidation.

Why should you care?

Accessing cash online means selling assets for most cryptocurrency investors, even sometimes facing tax consequences.

Coinbase solves that through Ethereum-backed loans, offering access to liquidity without offloading assets.

The development reflects how cryptocurrency firms are expanding beyond trading services.

Most networks are integrating lending, borrowing, and earning solutions for their users as digital assets’ adoption continues.

Moreover, it confirmed Coinbase’s trust in Ethereum as a legitimate financial instrument, equal to real-world assets (like real estate and stocks) that can serve collateral purposes.

Notably, Coinbase introduced cryptocurrency-backed loans in mid-January this years, and starget with Bitcoin.

The goal was to give users control over their finances while ensuring safety, speed, and transparency.

The team emphasized:

Crypto-backed loans are another major step towards empowering our customers with greater control over their financial lives. Coinbase customers can now get easier, faster access to everyday financial services.

The new addition signals demand for such services as cryptocurrencies go mainstream.

ETH price outlook

The news comes as Ethereum battles overwhelming bearish sentiments.

It is trading at $2,837 after losing more than 3% and 13% the past day and week.

ETH should hold above the $2,800 support to prevent massive declines.

Ethereum requires massive trading volumes and renewed institutional interest, through ETFs, to recover from its current slumber.

• The company will issue 3.5 million STRE shares, each priced at €100 ($115).
• Investors will receive a 10% annual dividend, paid quarterly beginning 31 December.
• Strategy currently holds 641,205 BTC, valued at approximately $47.49 billion.

Strategy, the crypto treasury company known for its methodical accumulation of Bitcoin, has unveiled plans for a euro-denominated perpetual stock under the ticker STRE.

The initial public offering (IPO) signals a refined integration of traditional capital markets with the Bitcoin economy.

Strategy’s latest move extends its long-term model of raising capital through equity and debt to expand its Bitcoin reserves, consolidating its position as the largest corporate holder of the asset.

Euro-denominated IPO targets professional investors

The company plans to issue 3.5 million shares of STRE, each priced at €100 ($115), with a 10% cumulative annual dividend payable quarterly from 31 December.

Proceeds will be used to acquire additional Bitcoin (BTC), currently trading at $104,603, and for general corporate purposes.

Strategy stated that the shares will be available only to qualified investors in the EU and UK, excluding retail participants.

The structure reflects the company’s preference for institutional capital and adherence to regulated financial frameworks while maintaining exposure to digital assets.

Refining the Bitcoin corporate treasury model

Founded by Michael Saylor, Strategy adopted its Bitcoin-first balance sheet model in mid-2020.

The company raises capital through market instruments, converts it into Bitcoin, and holds the cryptocurrency as a strategic reserve.

This approach has made Strategy the largest Bitcoin-holding public company, with 641,205 BTC worth about $47.49 billion.

Earlier in November, it added 397 BTC to its holdings as part of its ongoing acquisition plan.

Saylor’s framework has influenced a wave of similar corporate treasury models, with firms issuing equity or credit to build crypto reserves.

Many now hold Bitcoin and Ether (ETH), trading at $3,502, as balance sheet assets.

Together, these companies have raised billions, indicating a shift in how institutions view cryptocurrencies: not as speculative bets, but as reserve assets with long-term strategic value.

Market competition and acquisition restraint

Analysts have warned that the rapid growth of the crypto treasury sector could lead to consolidation as new entrants compete for investor capital.

Some expect companies to acquire rivals to preserve scale and relevance.

However, Strategy has confirmed it will not pursue mergers or acquisitions, even where they might appear beneficial.

The firm intends to expand organically, focusing on disciplined balance sheet growth and direct communication with investors.

This stance separates Strategy from its peers. While others diversify or seek acquisitions, it remains committed to a singular mission of strengthening its Bitcoin position.

The company’s discipline and transparency have become central to its investor relations strategy.

Major banks back the offering

The IPO will be managed by global financial institutions including Barclays, Morgan Stanley, Moelis, and TD Securities.

Their participation underscores growing confidence among traditional finance players in Bitcoin-linked products.

The STRE stock represents a rare hybrid between fixed income and digital asset exposure.

It offers predictable returns while channelling proceeds into Bitcoin, effectively linking the traditional yield-seeking investor base with the cryptocurrency ecosystem.

As institutional participation in Bitcoin deepens, Strategy’s euro-based IPO may define a new template for corporate finance.

The company’s ability to merge compliance-driven capital markets with a decentralised asset base demonstrates how digital currencies are being absorbed into the core of global finance.

• Cronos EVM v1.5.0 has officially debuted today, October 30.
• The upgrade introduces new EVM opcodes, smart accounts, and enhanced interoperability.
• Smarturn targets a more flexible, faster, and developer-friendly blockchain.

The Cronos blockchain has announced the launch of its anticipated Smarturn upgrade, welcoming a new era in its network evolution.

The update brings significant improvements across Cronos’s Ethereum Virtual Machine (EVM), including increased interoperability, enhanced ecosystem performance, and smooth wallet functionality.

According to the announcement:

This mainnet upgrade marks a major leap in Cronos’ evolution – unlocking smart accounts, new EVM features, and improved performance for developers and users alike.

🚀 Cronos EVM upgrade complete — “Smarturn” is here!

This mainnet upgrade marks a major leap in Cronos’ evolution — unlocking smart accounts, new EVM features, and improved performance for developers and users alike.

Here’s what’s new 👇 pic.twitter.com/6Vi4K8BUbL

— Cronos (@cronos_chain) October 30, 2025

The blockchain temporarily paused operations for roughly 60 minutes to integrate the new components.

Meanwhile, services are resuming gradually as the Cronos ecosystem undergoes a key milestone.

Smarturn aims to revolutionize Cronos through speed and compatibility using its unique innovations.

Smarter accounts arrive on Cronos

The high-end EIP-7702 smart account support is at the core of Cronos’ latest upgrade. With this feature, regular user wallets (Externally Owned Account (EOA) can perform like smart contract wallets.

That helps unlock capabilities previously possible via different accounts. According to the official blog:

EIP-7702 bridges this gap by letting EOAs act like smart contracts. The assigned contract code remains valid until the account issues a new authorization, which can apply to one chain or to multiple chains simultaneously.

Individuals can now perform different activities without changing account types, including using flexible gas payment methods, personalizing permissions, batching many transactions, and programming wallet behavior.

With EIP-7702, Cronos joins the few EVM-compatible platforms boasting such a level of account abstraction, merging automated control with simplicity.

The functionality will advance DeFi platforms and decentralized applications (dApps) on the Cronos blockchain through efficiency and user-friendliness.

Performance sees a massive boost

Furthermore, Cronos upgraded its EVM’s VM to operate on go-Ethereum v1.15.11, aligning with Ethereum’s Prague and Cancun upgrades.

The update aims to make contract execution and transacting cheaper and faster.

Also, it brings comprehensive client improvements and new EVM opcodes on Cronos to enhance efficiency, developer experience, and debugging. The team added:

These opcodes collectively make contract execution more efficient for complex DeFi, gaming contracts that handle multiple operations per transaction, and other computation-heavy applications.

Together, these upgrades make the Cronos EVM runtime faster, lighter, and more developer-centric.

Enhanced interoperability and tools

Smarturn also improves infrastructure for cross-chain builders and developers.

For instance, a new RPC endpoint enables the fetching of full block data in a single query.

That’s a win for dApp backends, analytics dashboards, and blockchain explorers.

Moreover, the mempool now allows users to cancel or speed up pending transactions.

That improves responsiveness amid massive network load.

Also, Cronos has adopted IBC v2 through ibc-go v10.1.1 to bolster cross-chain communication.

CRO price outlook

The alt hovered at $0.1470 after dropping roughly 1.5% the past 24 hours.

Its daily trading volume has collapsed by more than 60%, signaling faded enthusiasm.

Nonetheless, CRO reflects the broader sentiments.

Bitcoin trades below the key $110,000 after shedding nearly 3% of its value over the previous 24 hours.

Markets lost momentum after Powell’s cautious remarks concerning a rate cut in December.

• Bitcoin slips under $122K after a 16% surge fueled by ETFs and futures.
• Profit-taking triggers a short-term dip, pulling major altcoins down 4–7%.
• Analysts eye a potential rebound, with Bitcoin aiming past $130K and altcoins poised for recovery.

Bitcoin took a bit of a breather on Tuesday, slipping below the $122,000 mark after a blistering rally that had traders buzzing with excitement.

For the traders following the crypto rollercoaster, this pullback probably didn’t come as a huge surprise.

The market had been running pretty hot, and sometimes you just need to catch your breath before the next big move.

Bitcoin price: What’s behind the dip?

So, what’s causing Bitcoin and its crypto cousins like Solana, Cardano, and XRP to catch some cold feet right now? Well, a lot of it comes down to the fast-paced buying spree we saw over the past several days.

Bitcoin’s price zoomed up by around 16%, fueled by a flood of fresh investments pouring into ETFs and futures.

It’s like everyone piled onto the bandwagon at once, which can make things a little wobbly. When the crowd rushes in simultaneously, it often leads to what experts call an “overheated” market.

Basically, traders get a bit too optimistic, pushing prices higher than what fundamentals might support in the short term. Then, boom, some folks start locking in profits, and the selling begins.

We saw exactly that as bitcoin lost some steam, dragging most altcoins down with it, with drops ranging from 4% to 7% for the bigger names.

But here’s the thing, it’s not all doom and gloom. These kinds of corrections are pretty common in volatile markets like crypto.

Think of it this way: it cleans out the weak hands and sets the stage for healthier growth ahead. Plus, bitcoin still has strong support around the $118,000 to $120,000 zone, which many believe will keep the floor from falling out completely.

What’s next for crypto?

Many analysts are keeping a hopeful eye on the coming weeks. If Bitcoin can hang onto those key support levels, the path might just be clear for it to climb back past $130,000, riding the momentum of a strong finish to 2025.

Of course, the crypto world isn’t just about Bitcoin. Ethereum, for one, has been holding up relatively well, partly thanks to growing interest in staking and the ongoing development of decentralized finance platforms.

The altcoin scene may have taken a hit during this pullback, but it’s not out of the game.

Tokens like Solana and XRP are still on many investors’ radars, especially with potential new ETF approvals on the horizon and technical upgrades underway.

October has historically been a lively month for crypto, so don’t be surprised if the market springs back with a classic “Uptober” rally soon.

That said, this ride isn’t for the faint of heart. The market’s inherent volatility means prices can swing wildly, sometimes on little more than speculation or headlines.

Plus, global economic factors and regulatory news can turn the tide pretty quickly.

• Spot ETF inflows and declining reserves boost Ethereum’s bullish outlook.
• Jack Ma’s reported ETH reserve adds optimism to market sentiment.
• $4,400 support and $4,800 resistance are key levels to watch.

Despite the current market correction, Ethereum’s technical and macro fundamentals point to a potential resurgence in the near term.

Strong institutional demand, continuous inflows into spot ETFs, and notable accumulation headlines, including the rumoured reserve by Jack Ma, have reinforced bullish sentiment among traders and analysts alike.

Institutional inflows driving momentum

US spot Ethereum ETFs have continued to attract significant attention, recording $420.90 million in inflows on October 7, marking the seventh consecutive day of positive flows.

The inflows not only bolster liquidity but also suggest growing institutional confidence, which is likely to support a medium-term recovery toward the $4,900–$5,000 range.

The sustained demand has coincided with a decrease in exchange reserves, which have fallen to a three-year low of 17.4 million ETH.

Corporate treasuries and the EIP-1559 burn mechanism are further tightening supply, creating a backdrop for potential price acceleration.

Technical patterns hint at a potential ETH price breakout

Ethereum’s price movements over the past weeks show a mix of consolidation and cautious upward pressure.

The token has been trading near $4,450, with short-term support holding around $4,400–$4,420.

Notably, there is an ascending triangle pattern forming since June, with rising support and a horizontal ceiling near $4,750–$4,800.

This formation suggests that ETH could be poised for a breakout if bulls can reclaim the $4,800 level, opening the path toward the psychological $5,000 milestone.

Despite the volatility, the Relative Strength Index (RSI) is currently hovering around 54, indicating that the market remains balanced and ready for renewed momentum.

Jack Ma’s Ethereum reserve boosts sentiment

While details remain unverified, the news that Jack Ma is accumulating a strategic Ethereum reserve has fueled optimism, particularly in Asian markets where Ethereum (ETH) adoption and staking activity are robust.

Jack Ma is building a strategic Ethereum reserve.

I’m definitely not selling. pic.twitter.com/mq2THUv0xA

— Crypto Rover (@rovercrc) October 7, 2025

The combination of symbolic corporate accumulation and healthy technical positioning has prompted renewed interest among retail and institutional investors.

The report adds a layer of confidence to the bullish narrative, complementing ongoing ETF inflows and decreasing exchange balances.

The key Ethereum price levels to watch

Ethereum’s recent correction from $4,800 to around $4,450 highlights that the market is still quite volatile.

The hourly chart indicates resistance near $4,600 and key support levels at $4,400–$4,420.

If ETH fails to hold the support at $4,400, further downside to $4,320 or even $4,150 could occur.

However, analysts maintain that these dips appear more like momentum resets than trend reversals, especially seeing that even Bitcoin (BTC) is witnessing a similar retest after hitting a new all-time high (ATH) above $126,000.

For Bitcoin, some economists have projected that it could hit $140,000 before the end of October, which, as is usually the case, could lift the entire crypto market sentiment, boosting Ethereum’s price outlook.

If the Ethereum price maintains above $4,400, it could allow bulls to reassert control and drive the token toward its next major targets near $4,950–$5,050.

• The collaboration aims to merge NFTs with institutional funds.
• Sharp’s Solana-based treasury network will enhance cross-chain interactions and capital efficiency.
• PENGU has gained more than 2% after the announcement.

NFT brand Pudgy Penguins has entered a strategic alliance with publicly listed Sharps Technology to explore how to integrate non-fungible tokens into on-chain treasury strategies.

The development is crucial as it marks a significant move in Pudgy Penguin’s growth beyond Web3.

🚨NEW: @pudgypenguins has partnered with Nasdaq-listed Sharps Technology to integrate its $400M+ @Solana-based digital asset treasury with the Pudgy brand. The collaboration aims to connect NFT culture with institutional finance and expand access to onchain asset management. pic.twitter.com/SvqvDMA7XI

— SolanaFloor (@SolanaFloor) October 10, 2025

The project is shifting from its original NFT culture into a recognizable player within the blockchain and digital finance sectors.

Further, collaborating with a Nasdaq-listed firm reflects Pudgy Penguin’s evolution into a structured cryptocurrency project with institutional relevance.

Native coin PENGU decoupled from the prevailing market-wide slump with an over 2% uptick after the announcement.

The collaboration will connect Sharps’ Solana-based treasury platform with Pudgy Penguins’ intellectual property (IP), establishing a model that targets both institutional and retail markets within the Solana ecosystem.

Sharps Technology supercharges PENGU ecosystem

Sharps Technology has gained traction due to its strategic maturity from medical to blockchain, building a notable on-chain treasury platform on Solana.

Sharps’ treasury platform promises capital efficiency, automated treasury management, and real-time visibility.

Indeed, these features are vital in transforming how Web3 projects manage capital.

Through Pudgy Penguins, Sharps Technology gains exposure to a vibrant and fast-expanding NFT marketplace, while PENGU enjoys transparent, scalable financial support.

Notably, the collaboration brings Sharp’s blockchain treasury capabilities to the Pudgy Penguins network.

The move could set the stage for other non-fungible tokens projects looking to revolutionize financial management using decentralized tools.

Pudgy Penguins expands Web3 utility beyond NFTs

Launched in July 2021 as an Ethereum-based NFT collection of 8,888 unique avatars, Pudgy Penguins quickly became a recognizable brand in the non-fungible token space.

After the project’s acquisition by entrepreneur Luca Netz in 2022, Pudgy Penguins shifted its focus from collectible assets to building a Web3-native consumer brand.

This new direction has included multiple retail and digital initiatives.

The team expanded into physical merchandise, distributed through retail outlets, and launched Pudgy World, an interactive virtual experience designed to strengthen community engagement.

In 2024, the project introduced its native PENGU token, built with cross-chain compatibility, governance functionality, and a deflationary staking model aimed at increasing long-term value.

The token initiative aligned with Pudgy Penguins’ broader strategy to merge virtual ownership with tangible consumer products.

Now, the brand’s partnership with Sharps Technology represents a further step in its long-term plan to deepen Web3 integration and enhance institutional connectivity.

By leveraging Sharps’ digital asset tools, Pudgy Penguins aims to expand its brand’s financial and technological infrastructure within the Solana network.

PENGU price outlook

Cryptocurrencies traded in the red on Friday as Bitcoin appears stuck below $122,000.

While bears flexed their muscles, Pudgy Penguin’s native token seemed to lead the recovery.

PENGU gained more than 2% as Sharps Technology’s updates sparked optimism. It is trading at $0.03160.

PPENGU flashes bullish reversal signs after weeks of consolidation.

It has formed a reliable support barrier at $0.027, which has prevented declines several times since September.

Buyers target the nearest resistance between $0.034 and $0.035 – a key zone that served as a support and rejection zone in mid-September.

• The crypto market suffered its “largest single-day wipeout in crypto history.”
• Nearly $20 billion in liquidations were triggered on Friday alone.
• The crash was sparked by President Trump’s new tariff threats against China.

It was a brutal and historic bloodbath, a sudden and violent purge that resulted in what one analyst has called “the largest single-day wipeout in crypto history.”

A promising “Uptober” rally was brought to a catastrophic halt on Friday as a geopolitical bombshell from the White House sent a shockwave of fear through the global markets, triggering a cascade of liquidations that erased nearly $20 billion from the digital asset space in a single day.

The carnage was swift and merciless. Over a harrowing seven-hour period, Bitcoin plunged from the relative safety of $121,000 to a grim low of $109,000.

The pain was felt across the market, with Ethereum dipping to $3,686 and Solana touching just above $173.

But the real story was in the leveraged positions that were being systematically annihilated.

The volatile session triggered a “flash crash of liquidations,” wiping out almost 7 billion across all markets within a single hour, with a staggering 5.5 billion of that coming from bullish long positions, Sean Dawson, head of research at Dervie, told Decrypt.

By the time the dust settled, the majority of the day’s nearly 20 billion in liquidations—a colossal 16.7 billion—had come from longs, according to CoinGlass data.

The presidential spark: A tariff threat ignites a firestorm

This was not a crypto-specific crisis; it was a contagion of fear sparked by the highest office in the United States.

The sell-off across both crypto and traditional markets followed President Trump’s stunning announcement that he was canceling a planned meeting with Chinese President Xi Jinping and had ordered a “massive increase” in tariffs on Chinese imports.

The threat, which Trump himself acknowledged could be “potentially painful” for Americans, immediately sent risk assets into a tailspin.

The tech-heavy Nasdaq dipped 3.6 percent, the S&P 500 fell 2.7 percent, and the Dow dropped 1.9 percent, a clear sign that the market was taking the president’s words as a declaration of a new and more aggressive phase in the trade war.

The aftermath: A textbook relief rally

But just as quickly as the storm descended, a fragile calm began to return.

By the weekend, China appeared to soften its stance, and a market that had been gripped by panic began to recalibrate, with analysts suggesting the brutal rout may have been a brief, if violent, geopolitical overreaction.

Now, a powerful rebound is underway. “What we’re seeing is a textbook relief rally,” Dean Serroni, CEO of crypto investment manager Merkle Tree Capital, told Decrypt.

The recovery has been as swift as the crash was brutal. Bitcoin has surged 5% on the day to retake the $115,100 level.

Ethereum is leading the charge with an impressive 10.5% jump to $4,138, while major altcoins like Solana, BNB, and Dogecoin are soaring with double-digit gains.

Serroni explained the powerful bounce as “pure short-covering and mean reversion after the market overreacted to Trump’s tariff bombshell.”

He pointed to the “thin” selling pressure and the dramatic reset in open interest across derivatives markets, a sign that the carnage was primarily a technical event, a violent purge of “overleveraged derivatives traders” rather than a fundamental shift in the market’s long-term outlook.

His final verdict was a succinct and powerful summary of a wild and historic week: “This rout was a geopolitical knee-jerk, not a structural break.”

• Bitcoin plunged 8.4% as liquidity collapsed across exchanges.
• Oracle glitches triggered cross-liquidations and temporary de-pegs.
• The crash exposed major vulnerabilities in crypto infrastructure.

On 10–11 October 2025, the cryptocurrency market experienced one of its sharpest collapses in years — an event the community has dubbed Crypto Black Friday.

In just a few hours, more than $19.5 billion in leveraged positions were wiped out, sending Bitcoin down by 8.4% and shaking investor confidence worldwide.

What began as a reaction to the US’s 100% tariff announcement on Chinese goods quickly revealed much deeper cracks in the system — showing how automated trading, thin liquidity, and structural weaknesses combined to trigger a chain reaction across exchanges.

What triggered the sell-off?

The first signs of the crash appeared after President Trump confirmed steep new tariffs on Chinese imports, fuelling fears of higher inflation and tighter Federal Reserve policy.

Traders rushed to unwind risky positions, leading to rapid liquidations in Bitcoin (BTC), Ethereum (ETH), Wrapped Beacon ETH (WBETH), and Binance-Smart-based Solana (BNSOL).

But geopolitical panic alone doesn’t explain how billions disappeared so quickly. Analysts say technical and structural factors amplified the event.

Liquidity across exchanges was unusually low, and some Binance users reported frozen accounts during the sell-off.

High-leverage looped loans and a temporary de-pegging of the USDE stablecoin made matters worse, creating a cascade of forced sales. Binance later confirmed system issues and offered compensation to affected users.

How technical flaws magnified the collapse

According to a BeinCrypto report, during the sell-off, CoinGlass — a popular analytics site — faced a sophisticated proxy attack that briefly disabled access to its data and services.

This interruption added to market confusion just as traders were scrambling for real-time information.

At the same time, a series of unusually large transactions occurred moments before several oracle updates.

These oracles — the systems that feed real-world prices into blockchain smart contracts — briefly mispriced certain assets, triggering automatic liquidations across multiple trading pairs.

The mispricing also caused some stablecoins to lose their peg temporarily, creating brief windows where arbitrage bots and high-frequency traders could profit.

Within minutes, millions of dollars moved between exchanges as automated systems responded to the volatility, deepening the market crash.

Was it a coordinated attack?

Not everyone believes this was an organic crash. Some analysts argue that the patterns of trades and timing of oracle updates suggest deliberate manipulation.

Data showed that the most extreme de-pegs affected pairs with known update schedules, while large-scale short positions were placed just before liquidation cascades began.

This has led to speculation that certain market actors may have exploited the structure of the crypto market itself — using automated systems and leverage mechanisms to engineer volatility.

The idea is that, rather than hacking wallets or stealing funds, attackers could manipulate the market by exploiting predictable behaviours in oracles, exchanges, and algorithms.

Still, other experts maintain that this was simply an overleveraged market reacting to stress.

When traders take on too much debt and sentiment shifts suddenly, cascading liquidations can happen without any external interference.

The synchronised nature of the event across multiple exchanges, however, continues to fuel debate.

What the crash revealed about crypto markets

Crypto Black Friday has exposed how fragile the digital asset ecosystem remains despite its growing size.

With $19.5 billion wiped out in hours, the event showed how quickly risk can spread when systems rely heavily on leverage, automated trading, and opaque liquidity pools.

Exchanges such as Binance have since launched internal audits and pledged to improve transparency, but experts warn that these are short-term fixes.

The real challenge lies in redesigning core systems — including how leverage is managed, how oracles feed data, and how liquidity is distributed across markets.

The incident has renewed calls for better on-chain oversight and global standards for crypto risk management.

For a trillion-dollar market to mature, analysts say it must balance innovation with stronger safeguards against both systemic shocks and sophisticated manipulation.

• Cosmos Health boosts Ethereum investment to $1.8M under $300M digital asset plan.
• CEO Greg Siokas says firm remains committed to accelerating crypto acquisitions.
• Stock up 200% in six months as Cosmos expands in healthcare and digital finance.

Cosmos Health Inc. (NASDAQ: COSM) has strengthened its position in digital assets with a fresh $300,000 purchase of Ethereum (ETH), bringing the healthcare group’s total investment in the cryptocurrency to $1.8 million.

The move, announced Monday, forms part of the company’s broader $300 million digital assets facility aimed at portfolio diversification and long-term growth.

The Chicago-based company, which operates across pharmaceutical manufacturing, distribution, and telehealth, has been increasingly active in the digital asset space over recent months.

Cosmos Health’s stock has surged nearly 200% over the past six months.

Strategic expansion through digital assets

Cosmos Health’s latest Ethereum acquisition underscores its commitment to integrating digital assets into its broader financial strategy.

“We have continued to increase our Ethereum holdings following last week’s purchase, bringing our total investment in ETH to $1.8 million,” said Chief Executive Officer Greg Siokas.

“We remain committed to accelerating our acquisition program under our $300 million financing facility,” he added, highlighting the company’s intention to expand its exposure to blockchain-based assets.

The purchase follows a series of previous cryptocurrency investments made under the same program, which was first announced earlier this year.

The initiative reflects Cosmos Health’s diversification approach — balancing its core healthcare operations with emerging opportunities in digital finance and technology.

Founded in 2009 and incorporated in Nevada, Cosmos Health operates across several key healthcare sectors, including nutraceuticals, branded pharmaceuticals, and healthcare distribution.

Its operations span Greece and the UK, with major distribution centers located in Thessaloniki, Athens, and Harlow.

Broader strategic developments

Beyond digital assets, Cosmos Health has been actively pursuing corporate and operational initiatives to expand its global footprint.

The company recently announced the appointment of Theodoros C. Karkantzos to its board of directors.

Karkantzos brings over 15 years of experience in investment and business development and will serve on the Nominating and Corporate Governance Committee.

Additionally, Cosmos Health expanded its Sky Premium Life brand into Kuwait through an exclusive distribution agreement with Diyar United.

Under the deal, Diyar United will market and distribute the company’s nutraceutical products across the Kuwaiti market, further strengthening Cosmos Health’s international presence.

At its most recent annual shareholder meeting, the company also secured approval to increase its authorized shares to 1.5 billion common shares and 300 million preferred shares, a move intended to provide greater financial flexibility.

A diversified path forward

Cosmos Health’s growing engagement with digital assets — particularly Ethereum — highlights a trend of traditional companies exploring blockchain integration and crypto investments as part of their financial diversification strategies.

While the company’s core focus remains in healthcare and wellness, its foray into digital assets and partnerships suggests a forward-looking approach toward technology-driven financial management.

With its Ethereum investment now totaling $1.8 million and a $300 million facility available for further expansion, Cosmos Health appears positioned to continue balancing innovation in both healthcare and financial markets as it seeks sustainable long-term growth.