Bitget Daily Digest（October 20）｜CFTC Crypto Regulation Consultation Deadline; STBL Launches $100M USST Minting; Polymarket Bets US Gov't Shutdown Lasts Beyond November
Today's Preview
- In the past 24 hours, the inflow of stablecoins on the Ethereum network reached $995.8 million, the largest among all networks.
- The Ethereal perpetual contracts DEX protocol is scheduled to launch its mainnet on October 20, 2025.
- Sources: The Polymarket token is slated for release in 2026, to be implemented after the US market reopens.
Macro & Hot Topics
- Japan is actively adjusting its crypto regulations, with the Financial Services Agency considering allowing banks to hold cryptocurrencies, aiming to encourage traditional banks' participation in the digital asset sector.
- AI-driven crypto project Astra Nova experienced market manipulation. The team has pledged to buy back affected tokens worth $10 million to restore community confidence.
- The US Commodity Futures Trading Commission (CFTC) public consultation on crypto asset regulation will conclude on October 20, 2025.
Market Updates
1. BTC and ETH prices have risen, but market sentiment remains cautious. Approximately $38 million in positions were liquidated in the past 4 hours, mainly short positions.
2. All three major U.S. stock indices closed higher, with the Dow, Nasdaq, and S&P 500 each gaining about 0.5%, reflecting a positive market mood.
3. According to Bitget's liquidation map, BTC is currently priced at 108,012 USDT, with intense long and short liquidations nearby. Short-term volatility risk is heightened; be alert for sharp market moves.
4. In the past 24 hours, BTC spot inflows totaled $2.692 billion, while outflows reached $2.719 billion, resulting in a net outflow of $27 million.
5. Over the past 24 hours, contract trading in BTC, ETH, USDT, BNB, XRP, and other tokens saw leading net outflows, potentially signaling trading opportunities.
News Updates
- Polymarket: The market estimates a 75% probability that the US government shutdown will last beyond the end of November.
- Chinese regulators have halted plans by Ant Group, JD.com, and other tech giants to issue stablecoins in Hong Kong, bringing attention to the prospects for privately issued digital currencies.
- US Department of Homeland Security: Chinese criminal groups are using gift cards to launder and transfer funds.
- Vitalik published an article on the GKR protocol, which enables rapid proofs for ZK-EVM, zk-ML, and similar use cases.
Project Developments
- STBL has announced the launch of its $100 million USST minting plan, with over $2 million minted initially.
- Sources: The Polymarket token will be issued in 2026, upon the reopening of the US market.
- Jupiter DEX launched the Ultra v3 version to enhance speed and security on the Solana network.
- The NEAR Foundation has appointed five senior executives to oversee product, business, marketing, and other domains.
- Honeypot Finance completed a new funding round at a $35 million valuation.
- Tether Treasury minted an additional 1 billion USDT on the Ethereum network.
- Astra Nova will buy back affected RVV tokens in equal measure to stabilize liquidity.
- Polymarket: The market gives a 75% probability that the US government shutdown will persist beyond the end of November.
Disclaimer: This report is AI-generated, with information verified by humans. It does not constitute investment advice.
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