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Adam Iza, who called himself “The Godfather,” received a 78-month federal sentence for a scheme that prosecutors said defrauded Meta of more than $37 million. He must also pay $23.4 million and faces a separate concurrent 15-year sentence for an attempted Bitcoin robbery.
The CFTC has outlined a proposed federal licensing system for crypto exchanges offering leveraged trading. The early-stage plan would set customer-protection standards and could create a regulatory path for US-based perpetual futures, though public comments and further rulemaking remain ahead.
Representative Don Davis has introduced a House bill that would prohibit federal candidates, their spouses and campaign committees from trading contracts tied to their own elections. Violations could bring a $10,000 fine or three times the gain, while platforms would receive protections for enforcement actions.
The MOVE Index, a gauge of expected Treasury-market volatility, has climbed near its highest level since April 2025 while bitcoin and U.S. stocks remain relatively calm. The divergence is raising questions about whether bond-market stress could eventually spread to riskier assets.
Adam Iza, who called himself “The Godfather,” received a 78-month sentence and a $23.4 million restitution order over a scheme involving former sheriff’s deputies, more than $37 million in Meta fraud and cryptocurrency-linked tax evasion.
Bitcoin stayed in a narrow range as the Nasdaq and S&P 500 reached record closing highs. Kalshi launched a U.S. stock-index perpetual future, while the Winklevoss brothers filed for a direct-holding Zcash ETF and Moneyiar data showed Bitcoin below $84,000.
Bitway’s BTW token led gains among smaller cryptocurrencies, rising 25% in 24 hours and 170% over 30 days, while bitcoin traded near $85,900. Derivatives data showed stable open interest, cooler funding rates and $163 million in liquidations as traders watched key downside levels.
Hong Kong has reaffirmed plans to submit a crypto licensing amendment bill by the end of 2026. The proposed framework would regulate digital-asset trading, custody, advisory and management services, building on the city’s initial stablecoin licensing work.
Binance recorded more than 23,000 BTC in net weekly outflows in late September, the highest since June 2023, while whale stablecoin inflows rose 40%. The data has focused attention on possible accumulation and available capital as Bitcoin remains within a defined trading range.
DeepSeek is nearing a funding round of at least $12 billion and Moonshot AI has reached a $50 billion valuation, with both targeting early-2027 IPOs. OpenAI and Anthropic are also pursuing enormous valuations and potential listings as U.S.-China AI competition intensifies.
Ondo Finance is launching tokenized notes tied initially to an unnamed pre-IPO artificial-intelligence company. Eligible investors will receive economic exposure rather than direct share ownership, with trading planned through self-custody wallets and secondary markets.
The Solana Foundation has launched Solana DvP, an open-source program for institutions that links asset delivery and payment in one transaction. It aims to reduce securities settlement from one or two days to seconds while limiting settlement and counterparty exposure.
OKX has introduced OKX Money, an app that lets eligible customers convert more than 50 local currencies into USDG, USDC or USDT and spend through virtual or physical cards while keeping blockchain mechanics largely out of sight.
Bitcoin is down 32% a year after reaching a record above $126,000, a considerably smaller decline than in previous cycles. Institutional ETF flows, reduced leverage and lower volatility have softened the downturn, although analysts warn that sharper losses remain possible.
US spot Bitcoin ETFs posted $89.9 million in net outflows on Monday, ending two days of inflows as Bitcoin traded about 32% below its October 2025 record. Ether ETFs also extended a five-session losing streak, while altcoin funds delivered mixed results.
FinCEN withdrew two proposed U.S. crypto rules that never took effect: a $10,000 reporting requirement for transfers involving private wallets and additional reporting requirements for transactions linked to crypto mixers.
Ethereum developers released Prysm version 7.2.1 just before the Glamsterdam upgrade’s Sepolia rehearsal, ensuring validators automatically test a 200 million gas limit. The trial is designed to assess whether Ethereum can handle blocks more than three times larger than the previous 60 million-gas setting.
Bitcoin fell back to about $85,600 after sellers rejected $87,000 for the third time since Sept. 23. The move came as stocks hovered near records, Treasury yields climbed and the broader crypto market slipped to roughly $2.93 trillion.
