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Bitcoin News Roundup for Oct. 9, 2020
With BTC breaking above $11K and central banks collaborating to standardize CBDCs, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
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With BTC breaking above $11K and central banks collaborating to standardize CBDCs, 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 Tops $11K for First Time in Almost 3 Weeks
Bitcoin appears to have broken out of its tight trading range over the past two weeks, between roughly $10,500 and $10,800.
Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment
Jack Dorsey's payments company is the second publicly traded firm to put some portion of corporate reserves into bitcoin, following MicroStrategy's $425 million all-in bet.
Fed Reserve and 6 Other Central Banks Set Out Core Digital Currency Principles
The seven central banks, along with the Bank for International Settlements, have released a report setting out agreed core objectives that must be met by national digital currencies.
BitMEX CTO Released in US After Payment of $5M Bond
The former chief technology officer of the troubled BitMEX exchange has been released after a bond for $5 million was paid in the U.S.
For early access before our regular noon Eastern time releases , subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
Di più per voi
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.
Cosa sapere:
- 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.
Di più per voi
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.
Cosa sapere:
- 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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