24H Trending Coins & News | a16z Crypto Rebrands as a16z Frontier; Tesla and SpaceX Both Held BTC in Q3 (October 23)
- Key Takeaways: The crypto market saw broad declines in the short term, with BTC and ETH both dropping over 3% in 24 hours; a16z Crypto rebrands to expand into frontier tech but reiterates it is not exiting crypto; Visa plans to acquire Fireblocks for $2.5 billion as institutional involvement continues to deepen.
- Key Elements:
- All top 10 coins by CEX trading volume fell over 24 hours, with NEAR down 8.04% and ZEC down 8.65% leading the declines; the gainers list was dominated by small-cap tokens such as ASP (+31.36%).
- a16z Crypto has rebranded as a16z Frontier, expanding its investment scope to frontier technologies including AI and autonomous machines; the fund will continue investing in crypto projects and promoting sound regulation.
- Tesla and SpaceX both did not sell any Bitcoin in Q3 and continue to hold.
- JPMorgan said that measures from the SEC, CFTC, and other agencies can encourage institutional participation in the short term, but the lack of legislation keeps the political and legal risk premium persistently high.
- Coinbase warns that proposed rules from the UK's FCA could effectively ban regulated platforms from accessing DeFi; the new regime is expected to take effect in October 2027.
- Visa plans to acquire crypto custody firm Fireblocks for approximately $2.5 billion; OpenAI is set to complete a funding round of up to $30 billion, led by UAE investors.
- DWF Labs' study of 694 trading days found that Bitcoin spot ETF fund flows tend to confirm market trends rather than predict them.
1. Trending CEX Tokens
Top 10 CEX tokens by trading volume and 24-hour price change:
- BTC: -3.35%
- ETH: -3.48%
- SOL: -3.36%
- XRP: -4.01%
- BNB: -2.36%
- NEAR: -8.04%
- ZEC: -8.65%
- HYPE: -4.11%
- ENA: -7.82%
- UNI: -7.93%
Top 24-hour gainers (data source: OKX):
- ASP: +31.36%
- xSOXS: +16.20%
- xUVXY: +8.97%
- xBX: +7.35%
- MEW: +7.30%
- xADBE: +5.95%
- xSQQQ: +5.90%
- xWEN: +4.72%
- xTMF: +4.67%
- xISRG: +4.12%
Top 24-hour tokenized stock gainers (data source: msx.com):
- BEZ.M: 34.53%
- AAOZ.M: 30.54%
- AXTQ.M: 28.58%
- COHQ.M: 25.81%
- LITZ.M: 23.66%
- SOXS.M: 23.12%
- SNDQ.M: 22.40%
- TRON.M: 18.55%
- SKDD.M: 15.17%
- ZSL.M: 12.28%
2. Trending On-Chain Meme Coins (data source: GMGN):
- Kimchi
- Dacity
Headlines
Chris Dixon, co-founder of a16z and head of its crypto business, announced that a16z Crypto will be renamed a16z Frontier, expanding its investment scope from crypto startups to a broader range of frontier technology sectors, with a focus on supporting companies developing new technologies, creating new markets, and potentially facing longer commercialization cycles. Dixon said the adjustment represents business expansion rather than an exit from crypto, and the fund will continue to invest in crypto and related projects while promoting sound crypto regulatory policies. The new fund will also focus on AI and the new products and markets it spawns, including autonomous machines, hardware-software integration startups, and new networks connecting humans and agents.
Tesla and SpaceX Sold No Bitcoin in Q3
Neither Tesla nor SpaceX sold any Bitcoin in the third quarter.
Trump Denies Negotiating with Iran, Says Situation Will Be Resolved "Soon"
According to Al Jazeera, U.S. President Trump stated that on the Iran issue, the United States is in a "very favorable" position "militarily and economically," describing the current situation as "a minor conflict with Iran." When asked by reporters whether he had given up negotiating with Iran, Trump replied: "No, I think we're not currently negotiating. Regardless, there will ultimately be a result, and it will be clear very soon." He added: "Most people seem to think this will wait until after the election—we'll see," referring to the upcoming U.S. midterm elections. Trump also said: "But I have to say, what we've done on Iran is very remarkable."
New York State Department of Financial Services Issues Alert on PHP Vulnerabilities
The New York State Department of Financial Services said it has issued an alert regarding two critical PHP vulnerabilities, urging regulated entities to promptly identify and patch known exploited vulnerabilities.
Industry News
JPMorgan analyst Nikolaos Panigirtzoglou said in a report that recent measures by U.S. regulators have partially offset the negative impact of the Senate's failure to advance the Clarity Act, but political and legal risks remain. Measures led by agencies such as the SEC, CFTC, and OCC can encourage institutional participation in the crypto ecosystem in the short term, but only legislation can make the regulatory framework more durable. Until a comprehensive market structure bill is passed, the political and legal risk premium will remain elevated; if Democrats win the White House, existing measures could potentially be overturned within two years.
Coinbase: UK Proposed Crypto Rules Could Effectively Block Regulated Platforms from Accessing DeFi
Katie Harries, Head of European Policy at Coinbase, wrote that the UK Financial Conduct Authority's (FCA) proposed crypto asset regulatory rules could require regulated platforms to execute client orders only on FCA-authorized trading venues, thereby limiting users' access to decentralized finance (DeFi) protocols through compliant platforms. Since decentralized protocols typically have no entity that can apply for regulatory authorization, the rules could prevent regulated platforms from offering DeFi access services, constituting a de facto ban. The related crypto regulatory regime is expected to take effect from October 25, 2027.
A responsible official of the National Development and Reform Commission (NDRC) answered reporters' questions on the "Measures for the Administration of Outbound Investment." The 2017 Measures mainly targeted outbound investment by domestic enterprises and non-enterprise organizations. In recent years, outbound investment entities have become more diverse and forms more varied. Given that the "State Council Provisions on Outbound Investment" defined the connotation and extension of outbound investment and updated the definition of investors to include domestic enterprises, other organizations, and resident individuals, the new Measures accordingly reaffirm that investors include domestic enterprises, other organizations, and resident individuals, further implementing the status of various investors as outbound investment entities, improving service and protection measures, and supporting investors in carrying out outbound investment activities in accordance with market-oriented principles. At the same time, the new Measures connect with existing systems, allowing investors to continue to invest in overseas financial markets through channels such as Qualified Domestic Institutional Investors (QDII), Stock Connect, and Cross-Border Wealth Management Connect.
Project News
GMGN co-founder Haze posted that GMGN's proprietary cross-chain bridge is currently undergoing limited-scale testing, with a focus on ensuring fast, secure, and stable transactions. Haze said that once the feature launches, users will be able to purchase tokens on multiple blockchains directly within the GMGN App using USDC.
Aavenomics 3.0 to Include AAVE Buyback, Staking, and Burn Mechanisms
According to market sources: Aave founder Stani revealed in a livestream that Aavenomics 3.0 will include AAVE buyback, staking, and burn mechanisms.
Vitalik Novel Narrative Meme Coin Project Zipcoin Announces Shutdown
Vitalik novel narrative Meme coin project Zipcoin announced its closure. The team stated that the project was affected by the UNCX incident on October 15, when hackers drained 1.1% of the total supply of tokens including PEPECOIN, EDGEN, ZC, X, LO0P, and PAAL on Ethereum, and the stolen tokens were subsequently sold on the open market. The team chose not to disclose the incident at the time and instead repurchased tokens on the open market to cover the token shortfall originally intended for the team's subsequent commitments.
Funding & Investment
OpenAI to Complete Up to $30 Billion Funding Round Led by UAE Investor
OpenAI will complete a funding round of up to $30 billion, led by a UAE investor, at a pre-money valuation of approximately $1.25 trillion.
Visa to Acquire Crypto Custody Firm Fireblocks for $2.5 Billion
Visa is in talks to acquire crypto asset custody infrastructure company Fireblocks at a valuation of approximately $2.5 billion. If the deal is completed, it will further expand Visa's footprint in digital asset custody and blockchain payment infrastructure.
Voices
Crypto trader Ansem posted on X that rather than predicting the next Meme coin to capture market attention, the bigger opportunity lies in building businesses around speculative behavior. Ansem noted that younger traders are increasingly accustomed to trading assets driven by internet culture, with behavior patterns clearly different from traditional investors. Individual Meme coin hype may constantly rotate, but market demand for trading such assets may be more sustained, and more attention should be paid to how developers can transform this ongoing trading activity into sustainable business models and long-term value.
DWF Labs: Spot Bitcoin ETF Fund Flows Lag Behind Price Action, Difficult to Predict Subsequent Moves
DWF Labs noted in a research report released Thursday that daily fund flows into U.S. spot Bitcoin ETFs are difficult to use for predicting Bitcoin's subsequent price movements, as investors tend to buy after price gains and withdraw during declines. The research covered 694 trading days since the launch of U.S. spot Bitcoin ETFs in January 2024: in 8 instances where Bitcoin price fell 15%, 7 saw net ETF outflows; while all 9 instances where price rose 15% saw net inflows. DWF Labs concluded that ETF fund flows are more of a confirmation of market trends rather than a leading indicator.
CZ: No Crypto Wallet Is 100% Safe; Users Should Stay Informed of Risks and Manage Them Well
CZ posted that no crypto wallet can be absolutely secure, and there is no software entirely free of vulnerabilities or technology that is 100% safe. He pointed out that any action carries risk, and so does inaction, and problems, setbacks, and challenges that need to be resolved are inevitable along the way. CZ advised users to stay up to date, manage risks well, and actively solve problems.
Yi Lihua: Midterm Elections Approaching, Potentially Greater Market Volatility Ahead
Yi Lihua posted on X that in choppy markets, both long and short trades face wear and tear and problems, requiring overcoming greed and controlling trading frequency. In a bull trend, one should not short on pullbacks, and sticking to opportunities with higher certainty is enough to achieve annual targets. With midterm elections approaching, Trump faces an unfavorable situation, and whether he loses one or two seats, greater volatility lies ahead.
