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Bitcoin News Roundup for Oct. 2, 2020
With Pres. Trump testing positive and a systemically important exchange in the crosshairs, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 10:04 a.m. Published Oct 2, 2020, 4:00 p.m.
With Pres. Trump testing positive and a systemically important exchange in deep trouble, 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.co.
Today's stories:
Bitcoin, Stocks Fall as Trump Tests Positive for COVID-19
The cryptocurrency and Asian stock markets dumped early Friday after U.S. Pres. Donald Trump announced he and his wife had tested positive to COVID-19.
Ethereum 2.0 'Dress Rehearsal' Gets a Do-Over With Zinken
Developers will take a second whack at a final Ethereum 2.0 testnet after the first, Spadina, failed due to “critical peering issues.”
BitMEX 'Attempted to Evade' US Regulations, CFTC Charges
The Commodity Future Trading Commission has charged BitMEX, CEO Arthur Hayes and other affiliated entities with offering U.S. customers crypto trading services in violation of federal law.
Should DEXs Be Worried After BitMEX? DeFi Founders Weigh In
The sudden takedown of crypto exchange BitMEX has cast a new light on Ethereum’s decentralized finance (DeFi) markets.
8/25
— Adam Cochran (@adamscochran) October 1, 2020
So the crypto community might be right that CFTC regulation may not apply to DeFi. That's a grey area, because it could be argued the consumer is 'safe' in a limited sense.
But the CFTC charges would result in financial penalties.
The much larger threat is the BSA.
16/25
— Adam Cochran (@adamscochran) October 1, 2020
Note how a company isn't relevant.
The only thing that matters is do you make it easier for criminals in the US to exchange monetary instruments without applying the US standards of KYC/AML.
18/25
— Adam Cochran (@adamscochran) October 1, 2020
No, you can't but DAO or no DAO you can find that developers with admin keys, users who create front-ends, companies hiring individuals to work on the protocol and others who enable or profit from the contract, to be in violation on the BSA.
20/25
— Adam Cochran (@adamscochran) October 1, 2020
The take away here is that a protocol isn't outside the reach of the government, there is always pressure points that can be applied.
While DeFi *MAY* be in a grey area with *SOME* regulation, it is clear that the BSA still applies.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Barclays Sees ‘Down-Year’ for Crypto in 2026 Without Big Catalysts
Spot trading volumes are cooling, and investor enthusiasm is fading amid a lack of structural growth drivers, analysts wrote in a new report.
What to know:
- Barclays forecasts lower crypto trading volumes in 2026, with no clear catalysts to revive market activity.
- Spot market slowdowns pose revenue challenges for retail-focused platforms like Coinbase and Robinhood, the bank said.
- Regulatory clarity, including pending market structure legislation, could shape long-term market growth despite near-term headwinds.
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