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BitMine accumulated over 104,000 ETH worth $417 million amid price weakness, reinforcing its long-term bullish outlook.
Square enables Bitcoin payments. Compass Coffee became the first retailer to process Lightning-powered BTC payments via Square terminals.
Cathie Wood’s Ark plans quarterly Bitcoin ETFs, expanding institutional access to the crypto market.
The cryptocurrency industry remains dynamic with institutional activities, adoption, and cybersecurity threats making headlines. From BitMine’s acquisition of $417 million Ethereum, Square’s first Bitcoin payment launch, a massive YouTube hack, to Ark Invest’s recent ETF filing. The following are the crucial events shaping the crypto market today.
BitMine has increased its Ethereum reserves once again, indicating the long-term confidence in the asset despite the recent price fluctuations. Blockchain data indicates three new wallets, linked to BitMine, accumulated more than 104,000 ETH (around $417 million) through transfers from custodians Kraken and BitGo.
Earlier this week, BitMine disclosed an additional 200,000 ETH purchase, indicating the firm's strategy of buying ETH during market dips.
Chairman Tom Lee reiterated his optimism about Ethereum, predicting that it could reach $10,000 by the year-end, backed by the supply reduction practices and strong institutional interest.
Also Read: ETH Price Forecast: Key Targets as Ethereum Recovery Strengthens
Compass Coffee in Washington, D.C., became the first merchant worldwide to process Bitcoin payments through Square’s standard POS terminal during DC Fintech Week.
The system, developed by Block Inc., enables merchants to accept Bitcoin and convert up to 50% of daily sales into BTC, with zero processing fees for the first year starting November 10.
Payments were facilitated via the Lightning Network, enabling instant settlement. Compass Coffee’s CEO Michael Haft confirmed all demo transactions cleared “instantly and flawlessly.”
Industry experts say this could mark a turning point for Bitcoin’s real-world utility. Pranav Agarwal, independent director at Jetking Infotrain India, noted that the Lightning Network “has made Bitcoin payments as fast as card transactions, unlocking a new phase of retail adoption.”
The official Dota 2 YouTube channel was temporarily hijacked in a crypto scam. Hackers streamed a fake title, “Dota 2 Launch Official Meme Coin”, directing viewers to a pump.fun fradulent link.
The hack took place around the same time as multiple esports channel hacks, including ESL, BLAST Counter-Strike, and Mobile Legends MPL Indonesia.
The scam token had briefly peaked at $7,000 in market cap before crashing 16%. On-chain data demonstrated that one wallet held over 98% of the supply, further confirming its scam nature.
Thumzup Media, an ad platform for influencers, unveiled plans to add Dogecoin to its rewards app to allow for faster and cheaper payments around the world.
CEO Robert Steele said the integration would “make real-time payouts seamless” and eliminate the need for intermediaries. The company’s treasury currently holds 19 BTC and 7.5 million DOGE, and it plans to diversify into LTC, SOL, XRP, ETH, and USDC.
Thumzup has also invested $2.5 million in Dogecoin mining company DogeHash, thus confirming its positive outlook on DOGE’s ecosystem.
Meanwhile, the House of Doge is preparing for a Nasdaq listing via a merger with Brag House Holdings. The company currently has 837 million DOGE, making it the largest institutional holder of DOGE.
YZi Labs, formerly Binance Labs, led a $50 million seed funding round for Better Payment Network (BPN), a startup that uses stablecoins to create cross-border payments.
Built on BNB Chain, BPN’s hybrid CeDeFi infrastructure combines traditional compliance with DeFi automation, reducing settlement times from days to hours and fees from 2% to 0.3%.
The company will use the funds to expand on-chain liquidity pools and launch a DeFi FX market supporting up to 20 regional stablecoins across Latin America, Africa, and Asia.
YZi Labs partner Dana H. called BPN “a true game-changer” that could “outperform both traditional fintechs and fragmented Web3 solutions.”
Cathie Wood’s Ark Invest has filed a preliminary prospectus with the US Securities and Exchange Commission (SEC) to launch four quarterly Bitcoin ETFs, according to Bitcoin Magazine.
Filed on October 14, the proposed funds ARK DIET Q1, Q2, Q3, and Q4 Bitcoin 1 ETFs will be managed under the ARK ETF Trust. The trading codes are yet to be finalized, and the products await SEC approval before issuance.
If approved, the ETFs will represent another expansion of Ark’s aggressive crypto investment strategy, further strengthening institutional access to Bitcoin.
Also Read: Bitcoin Price Holds Above $110,000 Amid Market Volatility
1. What is BitMine’s latest Ethereum purchase worth?
BitMine acquired over 104,000 ETH, valued at roughly $417 million, during a recent market downturn to expand its holdings.
2. How is Square introducing Bitcoin payments to merchants?
Square’s POS system now supports Lightning Network transactions, letting businesses accept BTC with zero processing fees for the first year.
3. What happened to Dota 2’s YouTube channel?
Hackers hijacked the official Dota 2 channel to promote a fake Solana memecoin, though the livestream was quickly removed with no data breach reported.
4. How will Thumzup use Dogecoin?
Thumzup Media will integrate DOGE payments for influencer rewards, offering faster and cheaper global transactions without intermediaries.
5. What are Ark Invest’s new ETF plans?
Ark Invest filed for four quarterly Bitcoin ETFs: ARK DIET Q1, Q2, Q3, and Q4 Bitcoin 1 ETFs, awaiting SEC approval under the ARK ETF Trust.
