Coin Bytes Archives - Timescrypto

BRIC Settles $299.5M with Tether to Repay Celsius Estate

BRIC has agreed to pay $299.5 million to Tether in a settlement meant to help repay the Celsius bankruptcy estate, marking a significant step toward resolving one of crypto’s lingering financial disputes. The deal comes after months of negotiations and aims to return funds owed to Celsius creditors following the platform’s 2022 collapse. Tether’s role in the case traces back to earlier financial dealings with Celsius before the firm went under. The settlement highlights the ongoing effort within the crypto industry to clean up after the market turmoil of recent years, restore trust, and bring clarity to investors still waiting for compensation. It’s a small but meaningful move toward accountability in the post-bankruptcy crypto landscape.

Crypto Markets See $100M in Liquidations Within an Hour

The crypto market faced a sudden jolt, with more than $100 million in leveraged trades wiped out in just one hour. The sharp move came as Bitcoin, Ethereum, and several altcoins saw quick price dips, triggering a cascade of liquidations across major exchanges. Traders using high leverage were hit hardest as positions automatically closed amid the volatility. Analysts say the sell-off may have been fueled by large whale movements or broader market jitters, leading investors to pull back from risky trades. While the rapid drop shook market sentiment, some traders believe this could be a short-term shakeout before prices find stability again.

Bhutan Moves Self-Sovereign ID System to Ethereum, Serving 800,000 Citizens

Bhutan has taken a big step into the digital age by moving its self-sovereign ID system to the Ethereum blockchain, giving nearly 800,000 citizens secure and verifiable digital identities. The system lets people control their own personal data, deciding when and with whom to share it, without depending on central authorities. By using Ethereum, the platform ensures that identity records are transparent, secure, and tamper-proof, helping to prevent fraud and misuse. The move highlights Bhutan’s focus on innovation and citizen empowerment, making it easier for residents to access both government and private services. For citizens, it’s a practical way to manage their identity online while maintaining privacy, security, and control over their personal information.

Ukrainian Crypto Trader Kostya Kudo Found Dead; Police Suspect Suicide

Ukrainian crypto trader Konstantin Galich, better known as Kostya Kudo, was found dead in his Lamborghini Urus in Kyiv’s Obolonskyi district on October 11. According to reports, he had suffered a gunshot wound to the head, and a firearm registered in his name was discovered at the scene. Authorities are treating the case as a possible suicide. Galich was a well-known voice in Ukraine’s crypto community, admired for his trading insights and online presence. In the weeks leading up to his death, he had reportedly spoken about financial struggles and feelings of depression. His passing has left many in the crypto world shocked, reigniting conversations around mental health and emotional pressure in high-risk trading careers.

Brevis Launches “The Proving Grounds”

Brevis has launched a community-driven initiative called “The Proving Grounds,” which aims to bring zero-knowledge (ZK) technology to life on more than 20 blockchains. The move aims to demonstrate how Web3 can support actual, common use cases powered by ZK. Brevis Sparks, which will determine airdrop eligibility and prizes after the coin debuts, can be earned by participating and completing on-chain tasks. Brevis has so far produced more than 147 million ZK proofs, disbursed $238 million in prizes, and partnered with well-known companies as PancakeSwap and BNB Chain. A practical look at how privacy, scalability, and innovation are influencing the next phase of blockchain technology, it’s not simply another campaign.

Hyperliquid Activates HIP-3 Upgrade

The HIP-3 network upgrade that Hyperliquid is about to implement will be a significant turning point in its drive for increased decentralisation. By staking 500,000 HYPE tokens, the update will enable eligible developers to start their own permissionless perpetual DEXs, which are trading platforms that operate fully on-chain. The move gives developers more flexibility and control by integrating HyperEVM and supporting smart contracts, community governance, and improved security tools. A new generation of on-chain innovation is made possible by this action, which enables developers to design unique eternal markets and contribute to the expansion of the Hyperliquid ecosystem. This daring move solidifies Hyperliquid’s standing as one of the DeFi industry’s most developer-friendly platforms.

Coinbase and Amex to Launch Bitcoin Rewards Credit Card in the U.S. This Fall

Coinbase and Amex (American Express) are collaborating to provide a Bitcoin rewards credit card in the United States this autumn, adding a crypto edge to regular purchasing. The new card will combine traditional finance with the expanding realm of digital assets by allowing users to earn Bitcoin each time they make a transaction. The Coinbase app will allow cardholders to easily view and manage their Bitcoin rewards, allowing them to spend them as they choose. The collaboration is a significant step in integrating cryptocurrency into everyday finance and demonstrates how well-known companies like Amex are welcoming change. Earning and utilising cryptocurrency could become more commonplace than before thanks to this approach.

Metaplanet Halts 20th–22nd Stock Acquisition Rights to Refine Capital Strategy and Expand Bitcoin Holdings

Metaplanet, often called “Japan’s MicroStrategy,” has decided to pause its 20th to 22nd series of stock acquisition rights as it works to fine-tune its capital strategy and strengthen its Bitcoin reserves. The move is part of the company’s plan to manage its resources more efficiently while avoiding unnecessary shareholder dilution. Instead of issuing new stock, Metaplanet appears focused on building long-term value through Bitcoin accumulation, reinforcing its reputation as one of Asia’s most Bitcoin-forward public companies. The decision reflects a growing trend among corporate players treating Bitcoin as a strategic reserve asset rather than just an investment. Metaplanet says this refined approach will help support sustainable growth while aligning with its vision for a Bitcoin-driven future.

Tether Seeks Partnerships with Vietnamese Companies to Drive Crypto Adoption

In an effort to promote local crypto acceptance, stablecoin behemoth Tether is seeking to partner with Vietnamese businesses. Vietnam is one of Tether’s “most promising and strategic markets,” according to Marco Dal Lago, Vice President for Global Expansion and important Partnerships at Tether Group. During his Thursday speech to Deputy Prime Minister Ho Duc Phoc, Lago emphasised Vietnam’s youthful population, vibrant economy, and remittance inflows. According to local media, Dal Lago stated, “Tether is willing to share its experience in building a legal framework for transactions to attract external resources and support the national economic growth.”

HashKey Group Files for Hong Kong IPO, Targets 2025 Listing

HashKey Group has applied for an IPO in Hong Kong with the goal of going public “as soon as this year.” The company operates HashKey Exchange, the biggest authorised crypto exchange in Hong Kong. The platform also hopes to raise up to $500 million before the IPO. According to the sources, HashKey is still negotiating specifics, such as the listing timeline and valuation, which could change. The action is in line with Hong Kong’s expanding attempts to regulate digital assets and its pro-asset attitude. In addition, Hong Kong’s stablecoin issuer license program was formally introduced in August. HashKey revealed plans last month to launch the biggest multi-currency digital asset treasury (DAT) ecosystem fund in Asia. In its first phase, it revealed aspirations to raise over $500 million.

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