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Bitcoin News Roundup for Oct. 8, 2020
With trading volumes surging and DeFi slowing down, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 10:06 a.m. Published Oct 8, 2020, 4:00 p.m.
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With trading volumes surging and DeFi slowing down, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
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This episode is sponsored by Crypto.com, Nexo.io and Elliptic.
Today's Stories:
Bitcoin Options Volume on CME Jumps 300% as Traders Take Bullish Bets
Trading volumes for CME bitcoin options surged as traders made bull call spreads anticipating a rally.
As DeFi Deflates, Ethereum Users Get Reprieve From Soaring Fees, Congestion
The popularity of decentralized cryptocurrency exchanges had backed up the Ethereum blockchain, raising questions about its ability to scale.
BitMEX CEO Arthur Hayes Leaves Role After US Charges
The parent group of BitMEX has announced an executive shakeup after U.S. authorities charged the firm over allegedly illegal conduct.
KPMG Airs Blockchain Solution to Help Corporates Offset Carbon Emissions
"Big Four" firm KPMG says its patent-pending blockchain solution will help organizations measure, report and offset their carbon emissions.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
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