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In brief The American Federation of Labor and Congress of Industrial Organizations warned Monday the Responsible Financial Innovation Act provides only “the facade of regulation” while weakening worker protections and consumer safeguards. The labor federation’s letter comes as Senate Republicans push for a floor vote in November. Union officials criticized provisions letting FDIC-insured banks directly trade crypto and enabling tokenized securities to bypass SEC oversight. The largest federation of trade unions in the United States has thrown a wrench into the Senate’s most ambitious crypto legislation to date, warning the bill lacks worker protections and would enable the industry to…

In brief BNB traded 0.8% higher while Ethereum and XRP posted losses, with analysts crediting its ecosystem utility and token-burning mechanisms for resilience. Former Binance CEO CZ’s YZi Labs announced a $1 billion fund for BNB Chain developers, boosting investor confidence in the token’s long-term prospects. BNB sits just 2% below its all-time high, having gained 27.6% over the past week and 48.7% over the past month. BNB extended its gains on Wednesday even as other top digital assets notched significant losses, with an analyst attributing its recent upswing to its usefulness and capital structure in an interview with Decrypt.…

In brief The crypto market’s pullback Wednesday morning triggered $635 million in liquidations over the past 24 hours. The short-term pressure was the result of profit-taking, gold’s rebound, and a stronger dollar, analysts told Decrypt. Analysts view this drop as a healthy correction, with a target of $132,000 to $135,000 if key support holds. Bitcoin extended its retreat from record highs on Tuesday, triggering a liquidation event that wiped out nearly $500 million in leveraged long positions and underscoring the volatile underpinnings of the recent rally.At time of publication, Bitcoin’s price is down 1.2% over the past 24 hours and…

Cubic Analytics founder Caleb Franzen says XRP is entering a decisive phase after months of compression, with the price structure implying a path toward the $6–$11 zone so long as the market defends what he calls the key risk line at $2.68. XRP Price Targets In a wide-ranging discussion on the Thinking Crypto podcast with host Tony Edward, Franzen stressed that his conclusions are grounded in “price, structure, and statistical signals” rather than narrative. “It’s the chart itself. It’s the structure itself,” he said. “So long as we stay above $2.68, we’re going much higher.” Franzen’s XRP view comes out…

Cryptocurrency exchange Coinbase said New York residents are now able to stake their assets following approval from state regulators.In a Wednesday blog post, Coinbase said its users could begin earning rewards from staking in Ether (ETH), Solana (SOL), and other assets. The company credited New York Governor Kathy Hochul for “embracing progress and providing clarity” leading to the approval, with plans to continue expanding staking services across the US.“This is a big win for New Yorkers, and a step toward ensuring every American has equal access to the future of finance,” said Coinbase. “But our work is not done. We…

DOT$3.9163 encountered substantial volatility throughout the last twenty-four-hour period, with the cryptocurrency retreating 4%, according to CoinDesk Research’s technical analysis model.The model showed that the most noteworthy movement materialised when DOT plummeted to its lowest juncture of $4.07 on elevated volume of 3.16 million, considerably above the twenty-four-hour average of 2.31 million, establishing robust volume support at this level. Following this capitulation event, DOT demonstrated resilience by recovering to the $4.15-$4.18 range, suggesting institutional buying interest emerged at lower levels and potential stabilisation around current support zones, according to the model.On the news front, Polkadot is consolidating its core system…

Operated by Trump ally Bill Zanker, the firm aims to form a Digital Asset Treasury to stabilize the Official Trump token Fight Fight Fight LLC, the company that made the Official Trump (TRUMP) meme coin, is trying to raise at least $200 million to set up a Digital Asset Treasury (DAT) that will buy the token. Bloomberg reported on October 8 that this move is a direct intervention to stabilize the asset that is closely linked to the U.S. President. While the outcome of the fundraising is not yet certain, the ambitions are substantial, with a target range extending…

Decentralized AI skill market Recall Network announced on Wednesday that it will debut its native token, RECALL, on Oct. 15, with select early supporters receiving airdrop access.The ERC-20 token will be generated on Coinbase’s Layer 2 network Base and can be bridged to other blockchain networks, Recall said in a press release shared exclusively with CoinDesk. This release is supported by a coalition of leading AI-focused partners, including Eliza, Sapien, Gaia, Cookie, Olas, Morpheus, Intuition, Protocol Labs, and Lit, all sharing a vision of accelerating global progress through decentralized AI ecosystems.RECALL’s use caseToken holders will utilize RECALL to crowdfund AI…

KAIO, the tokenization firm backed by Brevan Howard and Nomura Bank’s crypto-focused Laser Digital, is bringing its tokenized funds to the Sei network (SEI) as real-world asset demand is expanding.The firm, formerly known as Libre Capital, has issued over $200 million in assets, including token versions of feeder funds of Brevan Howard, Hamilton Lane, Laser Digital and a BlackRock funds, with plans to expand access to additional strategies. The tokens, available to institutional and accredited investors, allow for onchain subscription, redemption and reporting.The Sei Network, built for high-speed financial transactions, provides the underlying rails for execution. KAIO’s expansion follows ARK-backed…

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 4230.81, up 0.4% (+15.88) since 4 p.m. ET on Tuesday. Five of 20 assets are trading higher.Leaders: BTC (+1.0%) and AAVE (+1.0%).Laggards: APT (-3.0%) and ADA (-0.5%).The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.