thorchain, a network for swapping assets across blockchains, paused swaps on 12 of its 13 outside chains on october 31. a reported ethereum reorg caused one 10 eth deposit to be refunded twice. outbound payments still go out on most chains. swap fees pay liquidity providers, rune node bonders and tcy holders. the day before, swaps hit $156.8m, about 4x the recent daily average, so the income lost depends on how long the pause lasts.

ethena pay, a payments app that holds dollar balances in ethena's usde, launched earn+ on october 28. its vault deposits usde on aave v4 on avalanche, borrows usdt and buys more usde again and again. it aims for about 11x leverage and up to 12% apy. if 11x means assets to equity, a full $4.5m cap needs about $45m of usdt debt. that is 2.6x all borrowing on that aave deployment now. aave rates rise as borrowing grows, and at 11x a 1 point rise in usdt cost cuts the yield by about 10 points. so the advertised yield depends on how much usdt liquidity arrives.

robinhood chain, robinhood's ethereum layer 2 built on arbitrum, earned $26m of net revenue in q3. without it, robinhood's crypto revenue fell 6% from q2, so the chain supplied all of the growth. on october 27, ceo vlad tenev promised more support for builders, but gave no budget or date. chain activity is weaker. dex volume fell 31% and fees fell about 35% between october 2-8 and october 20-26. robinhood also pays some wallet swap fees until december 31, so part of the fee demand is subsidized.

customers of foundation, maker of passport hardware wallets, reported phishing emails on october 26 with their names, addresses and phone numbers. one was a fake urgent recall notice. a support reply that a customer shared blames compromised cloudflare api keys, now revoked. but data that was already copied stays useful to scammers. theft needs a user to reveal seed words or approve a bad transaction. the data source and the number of affected buyers are not confirmed.

near intents, near's cross-chain swap product, uses its revenue to buy near on the open market. the bought tokens are not burned. this buying fell 40.6% in the latest full week, from $638k over october 9-15 to $379k over october 16-22. near also joins three bitwise large-cap indexes at the october 30 rebalance. this could add new demand while intents buying is smaller, but the size of index-linked buying is not known.

crypto exchange coindcx now confirms a 15.99m usdt loss from the october 21 drain, and says it absorbed the loss. the drained legacy deposit wallets were already compromised in its july 2025 breach, which cost about $44m. a failed sweep let customer deposits build up in them. tether froze nine linked addresses that hold 2.21m usdt, about 13.8% of the loss. but a freeze is not a recovery, so coindcx carries the full cost for now.

u.s. spot ether etfs recorded a provisional $4.4m net inflow on october 23, after a $110.6m outflow the day before. about 98% of that change came from withdrawals stopping. money into funds grew by only $2m. this follows about $1.18b of net outflows in october 1-22. so selling pressure from funds eased, but new buyer demand has not appeared. vaneck's fund has not reported yet.

u.s. spot bitcoin etfs took in a net $301.2m over october 19-23, but only because blackrock's ibit added $565.7m while all other funds lost $264.5m. on october 23, ibit also lost $110.3m, most of that day's $137.9m outflow. so the one fund that kept weekly etf demand positive turned negative too. totals are provisional, because hodl's october 23 flow is not reported yet.

yuga labs said on october 23 that four bored ape yacht club and four mutant ape yacht club nfts went to lacma, the los angeles county museum of art. this moves forward a museum plan that apecoin dao funded with 11m ape in 2023. bayc's daily volume jumped to 1,049.8 eth, but one 1,000 eth sale made 95.3% of it. so the gift adds museum status, not wide new buying. no exhibition date is set.

btc traded at $80,690 at 06:00 utc on october 24. an october 21 estimate puts the average purchase cost of u.s. spot etf and corporate treasury holdings at $80,000-81,500. so these large holders are now near break-even, and a sustained move below that range puts them at a loss on average. active investors bought lower, near $77,600 on average. average costs alone do not show forced selling.