Crypto News Today: EU Bans Russian Stablecoin, Ethereum ETFs Outperform Bitcoin, WazirX Resumes Trading

Overview

• ETH funds logged $8.68B inflows in Q3, surpassing Bitcoin’s $7.53B as staking-enabled products attract institutions.

• India’s largest crypto exchange resumes operations after a $230M Lazarus Group attack, backed by court-approved restructuring.

• The bloc bans the Russian A7A5 stablecoin and blacklists exchanges to curb financial evasion through digital assets.

The global cryptocurrency market is abuzz with regulatory crackdowns, institutional milestones, and exchange comebacks. From the EU’s 19th sanctions package targeting Russian crypto platforms to Ethereum ETFs surpassing Bitcoin inflows, WazirX’s long-awaited return, and Quantum Solutions’ aggressive Ethereum accumulation, the sector continues to evolve rapidly.

EU Sanctions Russian A7A5 Stablecoin and Crypto Exchanges

The European Union imposed new measures in its 19th sanctions package against Russia, introducing crypto restrictions since the start of the war in Ukraine.

The sanctions prohibit Russia-based crypto payment providers and ban the A7A5 ruble-backed stablecoin, which EU officials labeled a “key tool” for financing activities related to the war. 

EU foreign policy chief Kaja Kallas stated, “This package targets Russian energy, banks, crypto exchanges, and third-party entities enabling sanctions evasion. The EU is also restricting the movement of Russian diplomats to prevent destabilization.”

The European Council said Russia has used digital assets like BTC and USDT to fund oil exports and evade restrictions. US authorities have also prosecuted individuals connected to such schemes, including Iurii Gugnin, accused of laundering over $540 million.

Ethereum ETFs Outpace Bitcoin in Record Q3

According to Messari’s Q3 2025 State of Crypto and TradFi report, Ethereum ETFs saw record-breaking inflows of $8.68 billion, surpassing Bitcoin ETFs at $7.53 billion for the first time.

Ethereum’s total ETF assets under management (AUM) surged 170% to $27.43 billion, or 6.6 million ETH (5.2% of supply). ETH’s price jumped 77% in Q3, compared to Bitcoin’s 6.4% rise, partly fueled by institutional staking adoption.

BlackRock’s ETHA ETF led the growth, gaining 266% and capturing 58% of the Ethereum ETF market share. The SEC’s May 2025 clarification that protocol-level staking isn’t a security paved the way for the launch of staking-enabled funds like REX-Osprey’s Ethereum Staking ETF (ESK).

WazirX to Resume Trading After 16-Month Hiatus

Indian exchange WazirX will resume trading operations on October 24, following a 16-month suspension after a $230 million hack by North Korea’s Lazarus Group in July 2024.

Co-founder Nischal Shetty confirmed that trading will restart in phases over four days, with full functionality by October 27. INR deposits and crypto wallets have already been reactivated.

“Your support helped us achieve the impossible task of restarting. Our next step is to create more value for those impacted,” Shetty wrote on X.

A Singapore High Court recently approved WazirX’s restructuring plan, supported by 95.7% of creditors, paving the way for its return as India’s largest crypto exchange.

Quantum Solutions Becomes Japan’s Largest Ethereum Treasury Holder

Quantum Solutions, a Tokyo Stock Exchange-listed firm backed by ARK Invest and Susquehanna International Group (SIG), became Japan’s largest Ethereum-focused Digital Asset Treasury (DAT) after acquiring $9 million in ETH in a single week.

The company now holds 3,866 ETH (14.8 million) and plans to expand its treasury to 100,000 ETH following a $180 million capital raise. 

Founder Francis Zhou said Quantum aims to buy up to ¥150 million ($983,000) worth of ETH daily, highlighting its confidence in Ethereum’s long-term potential.

Citadel’s Ken Griffin disclosed a 4.5% stake in DeFi Development Corp. (DFDV), a Solana-focused DAT with $400 million in assets, signaling continued institutional interest in blockchain treasuries.

Also Read: ETH Price Prediction 2025-2030: Is $10,000 Possible?

Bitcoin Spot ETFs Record Net Outflow of $101 Million

According to data from SoSoValue, Bitcoin spot ETFs registered a total net outflow of $101.29 million on October 22, reflecting ongoing volatility in institutional sentiment toward the world’s largest cryptocurrency.

Despite the overall outflow, BlackRock’s iShares Bitcoin Trust (IBIT) continued to attract strong demand, posting a net inflow of $73.63 million for the day. 

The ETF’s cumulative inflows have now reached $65.17 billion, reinforcing BlackRock’s position as the dominant player in the Bitcoin ETF market.

Grayscale’s Bitcoin Trust (GBTC) recorded the largest single-day outflow of $56.63 million, bringing its historical outflow total to $24.56 billion. 

Also Read: Why Bitcoin, Ethereum, XRP Declined After Crypto Rebound?

Bunni Hacker Identified After String of DeFi Exploits

Blockchain security analysts have uncovered the identity of the “Bunni hacker,” the individual behind a series of devastating DeFi protocol attacks that drained millions of dollars in liquidity.

According to PANews and independent researcher Eye, the hacker described as a well-connected figure within the crypto industry is linked to at least 14 DeFi exploits, including attacks on Equilibria, BSX, DFX Finance, and Curve. 

Eye revealed that the perpetrator has ties to venture capital firms and operates under multiple online aliases, often using industry relationships to mask her involvement.

The Bunni protocol, which officially shut down last month after a major breach, cited “security vulnerabilities and insufficient funds” as reasons for its closure. The hacker allegedly exploited smart contract flaws to siphon off liquidity pools, destabilizing numerous DeFi ecosystems.

FAQs

1. Why did the EU ban the Russian A7A5 stablecoin?

The EU cited A7A5 as a “war-financing tool,” linking it to Russian state operations using crypto to bypass sanctions.

2. How did Ethereum ETFs outperform Bitcoin in Q3 2025?

ETH ETFs saw record inflows driven by staking-enabled funds, rising institutional adoption, and favorable SEC rulings.

3. What led to WazirX’s 16-month trading suspension?

The exchange was hacked by North Korea’s Lazarus Group, leading to a $230M loss before undergoing a creditor-approved restructuring.

4. Who is the Bunni hacker?

Investigations revealed the hacker is a crypto insider tied to multiple DeFi exploits, using false identities and VC connections to conceal activity.

5. What’s driving Japan’s Quantum Solutions’ Ethereum accumulation?

Quantum Solutions is aggressively expanding its ETH treasury, backed by ARK Invest and SIG, aiming to hold 100,000 ETH to lead Japan’s Web3 treasury ecosystem.