- South Korea’s KOSPI plunged 8 percent, nearing a full trading halt.
- Anthropic’s Q3 revenue surged to $16.8 billion, turning the firm profitable.
- Eight US states sue OpenAI, alleging ChatGPT harms and endangers children.
The global crypto market cap fell 3.2% to $2.83 trillion over the past 24 hours, with trading volume surging 33.2% to $102.36 billion.
Bitcoin traded at $81,045.89, down 3.3% on the day and 2.7% over the past week, briefly falling below $81,000 amid broader market turmoil. Ethereum changed hands at $2,367.93, down 6.2% in 24 hours. BNB fell 4.1% to $717.67, down 7.5% weekly. XRP dropped 5.1% to $1.31, down 8.6% over the week. Solana fell 5.0% to $102.92, down 12.1% over seven days.
Trending Searches
Bitcoin itself led trending searches, down 3.3% to $80,880.09. Pudgy Penguins followed, down 6.4% to $0.007328, and Quantus fell 8.5% to $112.22. Among top gainers, Manadia surged 374.3% to $0.27533, BabyCashCat climbed 77.1% to $0.0197, and Zerebro rose 47.2% to $0.04102.
South Korean Market Crisis Deepens
South Korea’s KOSPI index fell as much as 8%, approaching a full trading halt, while the KOSDAQ index triggered its circuit breaker mechanism, suspending trading for 20 minutes. The Korean Exchange activated a sidecar mechanism to suspend programmatic selling.
SK Hynix fell 10% and Samsung Electronics nearly 8% at the session’s worst point. Hong Kong-listed chip ETFs tracking the two companies also plunged, with CSOP 2x Long Hynix down over 22%.
The rout followed Tuesday’s selloff triggered by ChangXin Memory Technologies’ announced 4F² architecture breakthrough, which threatens Samsung and SK Hynix’s technical lead in DRAM.
Anthropic Discloses Strong Q3 Ahead of IPO
Anthropic told investors its third-quarter revenue rose to $16.8 billion, up nearly 50% from $11.5 billion in the second quarter, and that the company was profitable on an adjusted basis with positive cash flow.
Chips and data centers remain its largest expenses. The figures are seen as a key test for the company’s widely anticipated IPO, expected to be the highest-valued listing in history.
Crypto Market Selloff Intensifies
Crypto sectors fell broadly, with the RWA sector down 6.33% and Ondo Finance and Sky both posting sharp declines, according to SoSoValue data. CoinGlass recorded over $476 million in liquidations within a single hour, with longs accounting for more than 95% of the total.
Machi Big Brother kept closing positions to avoid liquidation, with his account falling to just $129,000. A whale/institution continued its “sell BTC, buy ETH” rotation, cumulatively selling 1,312 BTC over four days for 43,275 ETH at an average price of $2,521, now sitting on an unrealized loss of about $4.15 million.
Hardware Wallet Security Fallout Continues
Ledger said its security team found no signs of tampering in retail and distribution inventory inspected in Germany, including products from the store where a user had reported a suspicious device, and said no confirmed fund losses related to hardware implants in Europe so far.
OneKey launched a free tampering-detection tool allowing users to upload circuit board photos for analysis, claiming over 95% accuracy on roughly 400 test submissions. Former Mt. Gox CEO Mark Karpelès began compiling a public case database of tampered and counterfeit Ledger devices, cataloging 14 units from seven sellers.
Fed and Macro Developments
US September CPI came in at 3.7% year-over-year, above the 3.6% forecast and the highest since May, while core CPI rose to 2.6% annually, the highest since June. The data pushed the probability of an October Fed rate hike to 43.7% on the CME FedWatch tool, more than double the pre-data reading, before cooling somewhat in Asian trading as the dollar index erased its post-CPI gains.
Related: Peter Schiff Says Gold Has a Better Chance to 10x in 5 Years Than Bitcoin
The 30-year Treasury yield touched 5.627% intraday. Forecaster Jason Schenker said the Fed could opt for a larger 50 basis point hike in December after letting September’s move “breathe.”
Richard Heart Arrested in Istanbul
HEX and PulseChain founder Richard Heart was detained in a joint operation by Turkey’s intelligence agency and police, with authorities seizing roughly $4 million in cash, dozens of luxury watches, firearms and electronics; his wife was also detained. The SEC had previously accused Heart of raising over $1 billion through unregistered securities offerings and misappropriating at least $12 million for luxury purchases, though the case was dismissed in 2025 on jurisdictional grounds.
Related: Richard Heart Detained in Istanbul as HEX and PulseChain Tokens Plunge
Institutional Moves
The European Banking Authority designated Circle’s USDC as the first significant e-money token under MiCA, with prudential supervision transferring from France’s ACPR to the EBA starting November 12. BlackRock’s digital asset funds attracted $7.9 billion in Q3 inflows, lifting assets under management to $79.6 billion, up 63% quarter-over-quarter though still 23% below year-ago levels. Strive added 2,822 BTC for $235 million between October 12-13, bringing total holdings to 35,595 BTC.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
