Ripple expands Brevan Howard deal with prime brokerage services

Ripple Prime will provide multi-asset prime brokerage, clearing and financing services to funds managed by Brevan Howard, a global investment manager with about $35 billion in assets.  Under the expanded agreement, Brevan Howard will gain access to Ripple Primes services across traditional and digital asset markets, according to a Tuesday announcement.  The deal builds on an existing relationship between the firms. Brevan Howard-affiliated funds participated in a $500 million investment in Ripple in 2025 that valued the company at $40 billion.  “As digital and traditional markets become more interconnected, the need for institutional-quality digital asset infrastructure that enables a seamless experience for investors is only growing,” Brevan Howard chief operating officer Alan McGroarty said.  The investment manager serves global clients including sovereign wealth funds, corporate and public pension plans, foundations and endowments.  The agreement comes as Ripple expands its prime brokerage business. In August, Ripple Prime raised $275 million through a senior note offering to fund its expansion into prime brokerage, financing and multi-asset clearing. Ripple launched the business after acquiring prime broker Hidden Road for about $1.25 billion in 2025.

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Ripple and Circle backs OKX as it targets the next wave of stablecoin users

OKX brought Circle, Ripple and Standard Chartereds venture arm onto its cap table as the crypto exchange broadens its push into stablecoin-based financial services.  Related Company OKX Hong Kong s Chief Executive Officer, Star Xu, confirmed that the company completed a strategic investment from Circle, Qube Research & Technologies, Ripple and SC Ventures by Standard Chartered at a $25 billion pre-money valuation, extending a March round led by Intercontinental Exchange, the owner of the New York Stock Exchange. OKX did not disclose how much it raised in the latest transaction.  The valuation was unchanged from March, when ICE invested about $200 million. The new round instead adds shareholders whose businesses overlap with OKXs expansion into stablecoins, payments, institutional liquidity and tokenized assets.  Related Company Circle Global crypto finance company  Xu said the exchange chose the new investors for their strategic fit rather than because it needed additional financing, pointing to its longer-term ambitions across payments and financial infrastructure.  Related Company Ripple Financial technology and enterprise blockchain company  He stated:  “We didnt raise capital because we needed it. We chose to bring in strategic partners who share our long-term vision for stablecoins, payments, institutional markets, and the next generation of financial infrastructure.”  Stablecoin firms move onto OKXs cap table  The

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XRP Futures Top $56 Billion Across 3 Exchanges as Trading Rebounds

XRP futures trading increased in September, a new analysis shows, suggesting sustained interest despite a retreat from earlier records. The rebound reflects greater turnover in price-linked contracts, rather than proof of fresh investment or bullish positioning.  Key TakeawaysBinance led September XRP futures trading with $32.36 billion.Three major exchanges together handled approximately $56.18 billion.Higher futures turnover does not establish fresh capital inflows.  Septembers XRP Rebound Still Trails Earlier Peaks  XRP derivatives activity remained among the highest levels seen in six months, according to an analysis published by Cryptoquant on Oct. 6. The platform provides crypto market analytics. Cryptoquant contributor Arab Chain tracked XRP futures trading across major exchanges, comparing September with August.  The exchange breakdown places Binance first with approximately $32.36 billion in September volume, followed by Bybit at $12.5 billion. OKX recorded about $11.32 billion, bringing the three platforms combined total to roughly $56.18 billion. Other exchanges accounted for the remainder.  Septembers rebound remained below earlier peaks, providing a longer perspective on the latest uptick. “Higher futures volumes can indicate greater liquidity and more active positioning among traders,” the analyst stated as a possible implication of higher participation.  Monthly XRP futures trading volume by exchange, showing Septembers increase from August alongside earlier peaks. Source: Cryptoquant.  Against that

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Ethereum bears keep selling but ETH price stays near $2,700 as US spot ETFs record $206M in outflows

Ethereums institutional demand is weakening around the same time derivatives positioning shows traders are selling aggressively without yet breaking the broader price structure.  Related Asset Ethereum #2 ETH · $2,705.16 24-hour change: up 0.35% Loading price history… 24H Up 0.35% 7D Up 1.27% 30D Up 9.09%  US spot ETH exchange-traded funds recorded $50.76 million of net outflows on Oct. 5, extending their losing streak to five consecutive sessions, according to SoSoValue data. The products have shed $205.88 million since Sept. 29, reducing cumulative net inflows to about $13.75 billion.  The streak followed a $17.1 million inflow on Sept. 28 and has coincided with ETH trading near $2,711, leaving one of the markets major sources of incremental demand in retreat.  Yet the pressure has not spread uniformly across Ethereums investor base.  Blockchain analytics firm Santiment said Ethereums Age Consumed metric surged to 580 million token-days on Sept. 30, roughly nine times its September weekday average and the highest reading since June 2. The indicator tracks previously dormant coins moving onchain, weighted by how long they had remained untouched.  Related Company Santiment Crypto Market Intelligence Platform  Ethereum Exchange Balance (Source: Santiment)  Large spikes can signal that long-term holders are repositioning assets and, in some cases, preparing to sell. Aggregate exchange

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Arbitrum joins Paxos-led stablecoin group Global Dollar to capture digital dollar growth

Arbitrum is joining the Global Dollar Network, the Paxos-led stablecoin consortium behind $USDG, as the Ethereum layer-2 network looks to capture a slice of the economics from the stablecoins already circulating on its rails.  $USDG has launched on Arbitrum on Tuesday with integrations spanning trading, lending and payments, including Fluid, Morpho, GMX, Maple, Li.Fi, Gauntlet, Steakhouse, LayerZero and Kraken. Uniswap and Fhenix are set to follow.  The stablecoin is issued by Paxos, backed one-for-one by dollar reserves and has more than $3 billion in circulation across networks. Global Dollar Network has more than 150 partners, including Robinhood, Kraken, Mastercard, and OKX. Its model distributes rewards generated by $USDG reserves among partners that help drive adoption, rather than leaving those economics solely with the issuer.  That model gives Arbitrum a new way to make money from the stablecoin activity happening on its network. There is currently about $3.8 billion of stablecoins on the network, with Circles USDC accounting for roughly 60%, DefiLlama data shows. Arbitrum doesnt get a share directly in the reserve income generated by those tokens.  “With $USDG, Arbitrum and builders across the platform now have a stake in the growth upside,” said Brendan Ma, head of investment strategy at the Arbitrum Foundation.  A

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OKX Money brings stablecoin savings and cards into one app

OKX has launched OKX Money, a standalone app that converts funding from more than 50 supported currencies into dollar-backed stablecoins while offering payments, transfers and rewards in selected markets.  According to OKX, the Oct. 6 launch combines stablecoin balances, global transfers, virtual and physical cards and rewards in one product built for customers who may have little or no previous experience with crypto. The company says roughly 70% of the users it wants to reach have never used a crypto application.  The rollout covers parts of Latin America, Africa, South Asia and the Middle East, although OKX has not published a complete list of launch countries. A company spokesperson said availability will expand market by market according to local rules, with different legal entities and regulatory requirements applying across jurisdictions.  OKX Money turns local funds into three stablecoins  Customers can add money using more than 50 supported currencies, with the balance converted into dollar-backed stablecoins. OKX says users can hold USDG, USDC or USDT and move between supported stablecoins without conversion fees.  JUST IN: OKX launches standalone stablecoin payments app OKX Money  OKX Money lets users save, send and spend $USDG, $USDC and $USDT, with support for 50+ funding currencies plus virtual and physical cards. pic.twitter.com/J7Um1Mrg3Q  —

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Ethereum‘s proposed 3x ETF could reach CME’s futures threshold with just $362 million

At ETHUs Oct. 6 disclosed futures valuation, a 3x Ethereum ETF with $362.1 million in assets would target about $1.09 billion of exposure. If held entirely in standard CME Ether futures, that would equal 8,000 contracts, CMEs single-month and all-month accountability level.  Related Asset Ethereum #2 ETH · $2,705.16 24-hour change: up 0.35% Loading price history… 24H Up 0.35% 7D Up 1.27% 30D Up 9.09%  The SEC approved Cboe BZXs rule change to list Volatility Shares proposed ETHK on Oct. 2; ETHKs first trading date is pending. The sponsors live fund shows that Volatility Shares existing ETHU held 19,204 October CME Ether futures contracts worth $2.61 billion as of Oct. 6, against $1.31 billion of net assets as of Oct. 5.  Those holdings imply $135,800 of notional per contract, which puts 8,000 contracts at $1.0864 billion. A fund targeting three times daily exposure needs one-third of that in assets, or about $362.1 million. ETHUs position already stands at 2.40 times the 8,000-contract level.  Related Company Volatility Shares Leveraged crypto ETF issuer  What the 8,000 level means for Ethereum futures  CME cut its single-month and all-month Ethereum futures accountability level to an aggregated 8,000 standard contracts effective March 2.  An accountability level is a threshold, and participants can

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Strategy's $21B Bitcoin Quarter Beat Meta Yet 2026 Is Still in the Red

Strategy says its $20.91 billion third-quarter bitcoin gain would rank seventh among S&P 500 operating profits, but two brutal quarters earlier this year still leave the company about $1.87 billion underwater for 2026.  Key TakeawaysStrategy‘s $20.91B Q3 bitcoin gain beat Meta’s $19B quarterly operating income on the firms own chart.Q1 and Q2 losses of $14.46B and $8.32B leave Strategy roughly $1.87B down on digital assets in 2026.With BTC near $85,300, Strategy needs bitcoin to hold about $85,750 by Dec. 31 to finish the year in the green.  Seventh Place on Its Own Scoreboard  Strategy posted the comparison on X, hours after filing its weekly update with the U.S. Securities and Exchange Commission (SEC). The companys chart lined up its estimated Q3 gain on digital assets against the latest quarterly operating income of S&P 500 companies.  Nvidia led the roost with $64 billion, followed by Micron at $44 billion, Alphabet and Microsoft at $41 billion each, Apple at $36 billion and Amazon at $27 billion. Strategy slotted in at $21 billion, ahead of Meta at $19 billion, Broadcom at $16 billion and Walmart at $9 billion.  The exact number sits in the Oct. 5 filing, i.e. a $20.91 billion gain on digital assets for the three

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Aave and Pendle may have found a way to keep yield capital from ever leaving DeFi

Aave is approaching a $67 million collateral rollover as one of its fastest-growing fixed-yield trades reaches maturity.  Related Asset Aave #39 AAVE · $181.02 24-hour change: down 0.79% Loading price history… 24H Down 0.79% 7D Up 6.11% 30D Up 35.61%  About 67.4 million PT-AUSD-8OCT2026 tokens were supplied as collateral on Aave V3s Monad market as of Oct. 2, according to risk adviser LlamaRisk. The Pendle principal tokens mature Oct. 8, when each becomes redeemable for one AUSD and its fixed-yield appreciation ends.  A replacement is already being prepared. Pendle deployed a Dec. 17 AUSD principal-token market last month, and TokenLogic has proposed listing it on Aave so borrowers can move into the next maturity without giving up the collateral utility that helped the October market expand.  Related Asset AUSD AUSD · Stablecoin  The timing coincides with accelerating demand for AUSD credit on Monad. On Oct. 3, TokenLogic said active AUSD loans on Aave jumped 113% to $8.7 million from $4.1 million in 15 days, while user deposits more than doubled to $11.2 million.  Related Asset Monad MON · $0.03 24-hour change: down 7.49%  That creates an emerging cycle between Pendle‘s fixed-yield markets and Aave’s lending infrastructure. Investors can lock in a return through PT-AUSD, use the position

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OKX Money lets users save, earn 10% yield and spend dollar stablecoins in one app

OKX introduced a consumer app that lets eligible customers convert over 50 local currencies into dollar-backed stablecoins, earn rewards on those balances, and spend from a virtual or physical card.  OKX Money allows users in participating markets to fund accounts with local currencies and hold $USDG, $USDC or USDT. Customers can send stablecoins, switch among supported tokens without conversion fees and use a card for purchases in other currencies, where OKX says it will charge no foreign-exchange fee or markup, according to a statement released Tuesday.  “Hundreds of millions of people have been excluded from dollar-denominated savings and frictionless global spending because the infrastructure was never built for them,” OKX said, adding that OKX Money is the first step in a longer program.  Qualifying customers can earn up to 10% annual percentage yield (APY) on eligible $USDG holdings without a lockup or staking requirement, OKX said. The app also offers up to 10% cashback on eligible purchases and referral rewards. Product availability, rates, and eligibility vary by location.  While others offer similar services, OKX‘s app aims to target non-crypto users. Binance Pay also allows users to hold stablecoins, spend globally, earn passive yield and send cross-border payments with zero gas fees. Coinbase’s Coinbase One

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