Crypto News Today (Live) Updates On October 23

Binance founder CZ weighed in on the growing trend of tokenized gold, warning that it’s not the same as holding real gold. “Tokenizing gold is NOT on-chain gold,” he said, stressing that investors are simply trusting a third party to redeem their gold in the future — even amid uncertainty like management changes or wars. CZ added that this trust issue is why gold-backed tokens have never truly taken off. Meanwhile, gold prices remain steady around $2,400, as skepticism toward tokenized versions grows.

Ripple is making major strategic moves that go far beyond cross-border payments. Recent data reveal that the U.S. repo market, the backbone of global liquidity, isn’t $6 trillion, as widely reported, but closer to $12 trillion. With its acquisition of GTreasury and partnership with Hidden Road, Ripple is now poised to tap directly into this massive market. This shift signals more than innovation, it’s integration into the core of global capital flows, pairing real-time settlement with deep financial liquidity. The next phase for XRP may be less about price and more about power.

Tokyo-listed Quantum Solutions has acquired 2,365 ETH in a week, bringing its Ether holdings to 3,866 ETH (~$14.8M), making it Japan’s largest publicly listed Ether digital asset treasury (DAT) and 11th globally. Backed by ARK Invest and SIG, the firm continues daily ETH purchases. While DAT enthusiasm cools globally, Quantum Solutions aims for a 100,000 ETH treasury, signaling ongoing institutional interest in crypto.

Bitcoin miners’ debt has surged from $2.1B to $12.7B in 12 months as they invest in new rigs and AI infrastructure, VanEck reports. Miners are diversifying into AI and HPC hosting to secure predictable cash flows after April 2024’s halving reduced rewards. Companies like Bitfarms, TeraWulf, and IREN are raising billions through convertible and secured notes, while analysts stress this AI pivot strengthens efficiency without threatening the Bitcoin network.

Decentralized exchange Bunni is shutting down after a $8.4 million exploit in September. The team cited insufficient funds to cover auditing and relaunch costs. Despite ceasing operations, Bunni has relicensed its v2 smart contracts under the MIT license, allowing developers to use its innovations like liquidity distribution functions and surge fees. Users can still withdraw assets, and remaining treasury funds will be distributed to tokenholders after legal approval.

Senators and crypto industry leaders met on Capitol Hill to discuss a market structure bill. White House Crypto Czar David Sacks emphasized passing legislation this year. Democrats and Republicans highlighted bipartisan cooperation, while industry concerns focused on DeFi regulation. Key next steps remain unclear, with lawmakers aiming to finalize the bill despite government shutdown challenges.

A new class action lawsuit, Hurlock v. Kelsier Ventures, alleges Meteora founder Benjamin Chow orchestrated the pump-and-dump of meme coins, including MELANIA and LIBRA. The filing clarifies that public figures like Melania Trump and Argentine President Javier Milei were not culpable. Chow allegedly directed collaborators at Kelsier Ventures in launching multiple tokens for fraud.

Bitcoin’s short-term trend is holding strong. As shown on the chart, the red and green boxes highlight key reversals with BTC turning bullish at the end of September before flipping bearish on October 7, signaling a major downturn. The oscillator confirmed another upward shift on October 19, marked by the yellow pointer, indicating renewed strength. As of now, Bitcoin’s short-term momentum remains positive, suggesting continued upward movement unless the trend weakens in the coming sessions.

Global investment giant T. Rowe Price has filed a Form S-1 with the U.S. SEC for its new “T. Rowe Price Active Crypto ETF.” The filing marks another step toward mainstream crypto adoption. Notably, Litecoin (LTC) is included among eligible assets, classified as a commodity with CFTC-regulated futures trading. The move highlights growing institutional confidence in digital assets and could pave the way for broader exposure to crypto within traditional investment portfolios if approved.

The U.S. government shutdown has entered its fourth week, with no resolution in sight as lawmakers remain divided over the budget. Amid the stalemate, Senate Democrats are organizing a closed-door roundtable with top crypto industry leaders to revive discussions on the stalled market structure bill, a key proposal that could define how digital asset firms operate under U.S. law. The talks will focus on consumer protection, innovation, and federal oversight. As Washington grapples with both fiscal and regulatory challenges, the Senate’s next moves could reshape the future of U.S. governance and the crypto industry alike.