XRP breaks through $3, BTC breaks through $120,000

Headline

▌XRP Breaks Through $3

Market prices show that XRP has broken through $3 and is currently trading at $3.01, with a 24-hour increase of 2.38%. The market is volatile, so please exercise proper risk management.

▌BTC Breaks Through $120,000

Market prices show that BTC has broken through $120,000 and is currently trading at $119,986.01, with a 24-hour increase of 1.91%. The market is volatile, so please exercise proper risk management.

Market

As of press time, according to Coingecko data:

BTC price is $120,176, up or down 1.4% in 24 hours;

ETH price is $4,470.58, up or down 2.8% in 24 hours;

BNB price is $1,094.88, up or down 6.4% in 24 hours;

+4.7%; The price of DOGE is $0.2589, with a 24-hour increase or decrease of +4.2%; The price of XRP is $3.01, with a 24-hour increase or decrease of +1.6%; The price of TRX is $0.3427, with a 24-hour increase or decrease of +0.4%; The price of WLFI is $0.2093, with a 24-hour change of +0.17%; the price of HYPE is $45.06, with a 24-hour change of -1.5%.

Policy

▌New York State proposes an anti-Bitcoin mining bill

According to market news: The US state of New York has proposed an anti-Bitcoin mining bill to impose a franchise tax on Proof-of-Work (PoW) mining.

▌Multiple U.S. state regulators warn that crypto bills may weaken law enforcement capabilities to combat cryptocurrency crimes

On October 3, according to Bloomberg, regulators in several states, from Alabama to Montana, warned that the crypto market structure bill being considered by Congress could weaken states' law enforcement capabilities to combat cryptocurrency crimes. This concern is particularly concerning at a critical time when cryptocurrency prices are approaching record highs and fraudulent activities are heating up. Regulators said that as criminals try to take advantage of investors' strong demand for digital assets, the timing of weakening law enforcement capabilities is particularly inappropriate. Former CFTC Chair: The White House is Weighing Multiple Candidates for CFTC Positions. On October 3rd, despite Acting Commodity Futures Trading Commission (CFTC) Chair Caroline Pham's continued pro-crypto policies (even though she has expressed interest in leaving), the White House is accelerating its search for a permanent successor after abandoning President Trump's primary nominee. Following the recent removal of former Commissioner Brian Quintenz, Trump's previous nominee, former CFTC Chairman Chris Giancarlo revealed that the administration has been "pressing on" a new nominee since then and confirmed that he visited the White House on Wednesday for consultations. "The White House thought the situation was under control, but plans have changed," Giancarlo said in an interview. "I'm optimistic that we'll soon have an exceptional nominee that will impress everyone." The veteran advocate, known in the industry as the "Godfather of Crypto," noted that the White House is selecting candidates for multiple CFTC commissioner positions. Without a full committee, the successor will face a difficult task—the law requires five members, and policies under a single-member decision-making mechanism are vulnerable to legal challenges. "They understand this and know they must act," said a source familiar with the matter. The leading contender for the chairmanship is Mike Selig, currently the SEC's senior crypto policy official. All nominees must be approved by the Senate before taking office—Quintenz's confirmation process was previously stalled due to public opposition from Gemini CEO Tyler Winklevoss. U.S. Senate Republican Leader Thune: A weekend Senate vote is unlikely. U.S. Senate Republican Leader Thune said a weekend Senate vote is unlikely. (Jinshi) Shutter is promoting encryption technology to address the MEV issue and is now available on Gnosis Chain. Shutter uses threshold encryption to mitigate MEV issues in blockchains and protect transaction privacy. Initially encrypting each block cycle, this technology has been upgraded to encrypt each transaction and is now available on Gnosis Chain's RPC endpoint. However, research has found that when cycle keys are rebuilt, transactions not included in the block can be made public, exposing potential risks. (Cointelegraph) 1inch has integrated its Swap API into the Coinbase app. Decentralized Finance (DeFi) aggregator 1inch has integrated its Swap API into the Coinbase app. The Coinbase app has approximately 120 million monthly active users, and the two parties disclosed the news on Wednesday evening. The integration enables users of Coinbase's decentralized exchange (DEX) feature to perform non-custodial token swaps directly from their wallets. This partnership is reportedly 1inch's largest US customer case to date. 1inch currently has 25 million users and an average daily trading volume of over $500 million.

▌European Central Bank and Seven Technology Partners Reach Framework Agreement on Digital Euro Components

According to Cointelegraph, the European Central Bank and seven technology partners have reached a framework agreement on digital euro components. The agreement covers fraud management, secure information exchange, and storage management, and the digital euro is expected to be officially launched in 2029. Grayscale Research recently published an article stating that the crypto bull market is driven by macro demand for scarce digital assets and regulatory clarity supporting adoption, two factors likely to become a renewed focus for investors in the fourth quarter of 2025. Current fundamentals remain positive. The Federal Reserve resumed interest rate cuts in September and hinted at one or two more rate cuts before the end of the year. Positive market catalysts also include the potential introduction of staking functionality in crypto ETPs, the listing of more altcoin ETPs, and the Senate's passage of the market structure bill. Grayscale believes that until these factors change, the September market pullback is temporary and the crypto market may be on its way to new highs.

▌Monthly trading volume of futures on decentralized exchange platforms exceeded $1.1 trillion for the first time

Monthly trading volume of futures on decentralized exchange (DEX) platforms exceeded $1.1 trillion for the first time

▌Coinbase's Bitcoin loan scale is expected to reach its target of $100 billion by 2030

According to market news: Coinbase's Bitcoin loan scale is expected to reach its target of $100 billion by 2030.

▌Coinbase to launch 2Z contract trading

According to an official announcement, Coinbase will launch DoubleZero (2Z) perpetual futures trading on October 2nd. If liquidity conditions are met, trading in the 2Z contract will open at or after 18:00 UTC in supported regions.

Important Economic Developments

▌Putin: Higher US Tariffs on Russia Will Force the Fed to Maintain High Interest Rates

Russian President Vladimir Putin stated that if the United States imposes higher tariffs on Russian trading partners again, it will lead to rising prices, which will force the Federal Reserve to maintain high interest rates. (Golden Ten)

▌The U.S. Bureau of Labor Statistics has completed collecting labor force data for September and may be ready for release.

According to CNN: The U.S. Bureau of Labor Statistics has completed collecting labor force data for September and may be ready for release. The STOXX Euro 600 Index closed at a record high, demonstrating strong market performance. Prediction Platform: US Government Shutdown May Last 13 Days, according to US prediction trading platform Kalshi. Market sentiment is shifting towards believing the deadlock in Washington will persist for longer. Golden Encyclopedia: What is a multi-signature cold wallet? A cold wallet is a method of cryptocurrency storage that is kept offline and disconnected from the internet. This setup makes it more difficult for hackers to access funds remotely. By keeping private keys offline, cold wallets reduce the risk of cyberattacks such as phishing or malware. Multi-signature technology requires multiple private keys to approve transactions, while single-signature wallets only require a single key. Think of it like a joint bank account: any withdrawal requires approval from two or more signers. This additional layer of security means that even if a single key is compromised, an attacker cannot unilaterally transfer funds. Multi-signature cold wallets require multiple private keys from trusted parties to approve and authorize transactions, enhancing security by preventing a single point of failure. Despite their security advantages, multi-signature wallets are not immune to attacks. Hackers often exploit weaknesses in implementation, human behavior, or third-party services. To make multi-signature cold wallets more secure, use a higher signing threshold, implement multiple layers of authentication, and store keys in secure, geographically dispersed locations. Multi-signature cold wallets remain one of the best options for those looking to protect their cryptocurrency assets from theft and fraud. However, their complexity and potential vulnerabilities should not be ignored, especially in the context of supply chain attacks.