Memecoins attract users, but platforms reap the profits: Report

In September, prediction markets surged in popularity, with trading volume skyrocketing to $4.28 billion, indicating a growing interest among crypto enthusiasts. This rise comes as Solana's memecoin trading experiences a downturn, leading many to speculate whether prediction markets are becoming the new playground for risk-takers seeking excitement and profit. This shift could reshape the landscape of crypto trading, highlighting the evolving strategies of investors.

Senator Ron Wyden, the leading Democrat on the Senate's tax committee, is investigating Dan Morehead, the founder of Pantera Capital, over potential misstatements regarding his taxes related to crypto capital gains. This inquiry is significant as it highlights ongoing scrutiny in the cryptocurrency sector and the importance of accurate tax reporting in a rapidly evolving financial landscape.

As we head into October 2025, securing your digital assets is more important than ever, and crypto hardware wallets are leading the way. These cold wallets offer a nearly foolproof method to protect your savings from hacking, making them the ideal choice for anyone looking to stake their cryptocurrency. With the rise of digital currencies, understanding the best options available can help you make informed decisions about your investments.

Dogecoin is on the verge of completing a Golden Cross pattern, which typically indicates a potential bullish trend. This technical event is significant because it could lead to a major price rally, especially if it breaks through the resistance level at $0.33. Crypto analyst Cas Abbe has pointed out this bullish momentum, suggesting that if Dogecoin can maintain its upward trajectory, it may positively influence the broader altcoin market.

Hedera's price is showing positive momentum as it rose to $0.2200, recovering from a September low of $0.2050. This uptick comes as traders anticipate the upcoming crypto ETF season, which could further boost market confidence. The potential for a surge in Hedera's value is significant, especially with the broader crypto market rebounding, making it an exciting time for investors.

The recent U.S. Senate hearing on crypto taxes has highlighted significant challenges for both the cryptocurrency industry and the IRS. A leading tax executive from Coinbase expressed concerns that the IRS may not be adequately prepared for the influx of tax reporting that is expected, especially since many regulations surrounding cryptocurrency are still in development. This situation is crucial as it underscores the ongoing struggle to establish a clear framework for taxing digital assets, which could impact compliance and innovation in the sector.

Bullish has officially launched its U.S. spot crypto trading platform after receiving approval from the New York Department of Financial Services (NYDFS). This expansion into 20 states comes at a time when institutional interest in cryptocurrency is on the rise, signaling a growing acceptance and integration of digital assets into mainstream finance. This move not only enhances Bullish's market presence but also reflects the increasing demand for regulated crypto trading options.

World Liberty Financial, backed by Donald Trump, is set to expand into tokenized commodities and debit cards, a move that could significantly enhance the U.S. financial landscape. This integration of cryptocurrency with traditional assets may not only strengthen America's economic influence but also reshape global financial dynamics, making it a noteworthy development in the evolving world of finance.

Bitcoin is making a strong push towards $118,000, buoyed by weak US jobs data that has positively impacted crypto and other risk assets. Analysts are viewing the potential government shutdown as a 'non-event,' suggesting that any dips in the market could present buying opportunities. This is significant as it indicates growing confidence in Bitcoin's resilience and the broader crypto market's ability to thrive even amidst economic uncertainties.

SBI Crypto has suffered a significant loss of $21 million due to funds being laundered through Tornado Cash by suspected North Korean hackers. This incident highlights the ongoing threat posed by state-sponsored cybercrime in the cryptocurrency space, leading to increased regulatory scrutiny on privacy tools. As the crypto market continues to evolve, such events raise concerns about security and the need for stronger regulations to protect investors.

Crypto analyst Trader Mayne has raised concerns that Bitcoin might experience a significant drop before it can continue its upward trend towards the end of the year. He highlights a crucial liquidity level at $98,000 that remains uncollected, suggesting it could be targeted soon. This warning is important for investors as it indicates potential volatility in the market, urging them to be cautious and consider their strategies carefully.

The US Treasury has announced a significant easing of crypto tax rules, which is great news for Bitcoin investors and the broader cryptocurrency market. This change is expected to reduce the tax burden on crypto transactions, making it easier for individuals and businesses to engage with digital currencies. By softening these regulations, the Treasury aims to foster innovation and growth in the crypto space, potentially leading to increased adoption and investment in Bitcoin and other cryptocurrencies.

In September, prediction markets surged in popularity, with trading volume skyrocketing to $4.28 billion, indicating a growing interest among crypto enthusiasts. This rise comes as Solana's memecoin trading experiences a downturn, leading many to speculate whether prediction markets are becoming the new playground for risk-takers seeking excitement and profit. This shift could reshape the landscape of crypto trading, highlighting the evolving strategies of investors.

Shiba Inu is at a critical juncture as it approaches a key demand zone on the SHIB/USDT chart, according to analyst CryptoNuclear. This area, which has historically supported the price since 2022, is seen as a make-or-break level for the cryptocurrency. If Shiba Inu can maintain its position above this range, it could lead to significant upward movement; however, a drop below could signal a decline in market structure. This situation is crucial for traders and investors as it could define the trajectory of Shiba Inu in the upcoming months.

US lawmakers are expressing serious concerns over the SEC's oversight following the disappearance of critical data related to former chair Gary Gensler. This situation raises questions about the integrity of enforcement actions and the transparency of regulatory processes. The loss of such data could undermine public trust in the SEC, which is crucial for maintaining a fair and orderly market. As lawmakers demand accountability, this incident highlights the ongoing scrutiny of regulatory bodies and their impact on investor confidence.

Senator Ron Wyden, a prominent Democrat, is continuing his investigation into the tax practices of Pantera Capital founder Dan Morehead. This probe is significant as it highlights ongoing concerns regarding tax compliance among high-profile investors and the broader implications for financial regulation. The outcome could influence future policies and set a precedent for how similar cases are handled.

Today's crypto news highlights the latest trends and events affecting Bitcoin prices and the broader cryptocurrency landscape, including blockchain developments, DeFi innovations, NFT activities, and Web3 advancements. Staying updated on these topics is crucial for investors and enthusiasts alike, as they can significantly influence market dynamics and regulatory discussions.

REXShares is making a significant move by filing with the SEC to launch the BitMine Growth and Income ETF, which will provide investors with direct exposure to BMNR stock. This initiative is important as it opens up new investment opportunities in the cryptocurrency sector, allowing more people to participate in the growing market. With the ETF, investors can potentially benefit from the performance of BMNR, making it a noteworthy development in the financial landscape.