Good morning, everyone — it’s your Daily Crypto News for Thursday, October 23rd, 2025. My name’s Matt, and apparently they start landscaping at 7:30 in the morning here in Ohio. If you can hear the background noise, sorry — we’re rolling with it.
Quick reminder: you can always drop questions in the Spotify comments or head over to dailycryptonews.net to join our Substack. If you’re on Apple Podcasts, give us a five-star rating and leave a comment so more people find the show. Let’s get into it.
Coinbase Launches Payments MCP
Coinbase just launched Payments MCP, or Model Context Protocol — a system that lets AI models autonomously send stablecoin payments and make online transactions through its X402 standard.
It basically takes the old HTTP 402 “Payment Required” code and turns it into a live crypto payment layer that works with AI models like Claude, Gemini, and GPT. You can fund wallets, set spending caps, and let your AI pay for things like articles, APIs, or services automatically.
The X402 Foundation, co-founded with Cloudflare, will keep the standard open-source. Coinbase predicts that 2026 will be the “year of agentic payments.”
My Take:
This is one of those developments that sounds small but could end up huge. If AI agents can handle payments natively on-chain, we’re talking about a new digital economy — machines paying machines. The real question is whether Coinbase keeps it truly open, or if this becomes a KYC choke point disguised as innovation.
WazirX Returns After $230 Million Hack
India’s former top crypto exchange WazirX is relaunching on October 24th after a $230 million hack forced it offline for more than a year. Approved by Singapore’s High Court, the restructuring adds zero-fee trading, Recovery Tokens for victims, and BitGo custody for security.
This comeback will test whether India’s crypto traders still trust domestic exchanges after repeated scandals and high taxation.
My Take:
WazirX returning under Singapore’s court supervision could be a turning point for India’s battered exchange ecosystem. But users have long memories — if they screw up again, the entire region might go P2P-only.
Canada Hits Cryptomus With Record $177M Fine
Canada’s financial watchdog FINTRAC fined Cryptomus (Xeltox Enterprises) a record $177 million for massive anti–money-laundering failures — including over 7,500 Iran-linked transfers and 1,500 unreported transactions over $10,000.
This shatters the previous Canadian crypto fine of $20 million (KuCoin) and signals that regulators are done giving exchanges second chances.
My Take:
Regulators always show up late to the party, but when they finally walk in, they bring a sledgehammer. This fine is overkill, but it’s also a message: if you don’t play by AML rules, you won’t play at all in Canada.
CZ Mocks Peter Schiff’s Tokenized Gold
Binance’s CZ mocked Peter Schiff’s new tokenized gold project, calling it a “trust-me-bro asset.” Schiff claims the token is redeemable for gold bullion and usable through a debit card.
CZ pointed out that the product relies on custodians — the exact centralized structure crypto was designed to eliminate. Schiff launched it right as gold suffered its worst two-day crash since 2013, losing $2.5 trillion in value.
My Take:
Schiff has been screaming “Bitcoin’s going to zero” for a decade, but his “tokenized gold” is literally what he’s accused Bitcoin of being: a faith-based digital IOU. Irony doesn’t get much thicker.
Cuomo’s Crypto Hail Mary
Former New York governor Andrew Cuomo trails Zoran Mamdani in the city’s mayoral race despite unveiling a “crypto and AI innovation plan.” His proposal adds a “chief innovation officer” to attract tech investment — but voters aren’t buying it.
Crypto donors have funneled money toward him, yet polls show a 14-point deficit. For Cuomo, this is less policy and more political life support.
My Take:
Cuomo never backed crypto when it mattered, and now he’s desperate for its money and cultural relevance. This is what happens when politicians treat innovation as a campaign stunt — voters can smell the opportunism.
Ethereum Whale Buys $32M in ETH
An Ethereum whale just bought $32 million worth of ETH on OKX, joining recent corporate accumulations by SharpLink and BitMine Immersion Technologies. Together, those firms have added nearly $867 million in ETH this month.
Meanwhile, a Solana whale sold $93 million in SOL but still holds $150 million, signaling a quiet rotation from SOL to ETH as Bitcoin consolidates near $109K.
My Take:
It’s not just whales buying dips — this looks like rotation back into Ethereum’s safer narrative: real yield, stable staking, and institutional liquidity. Solana’s still strong, but the smart money’s hedging.
Listener Questions
Jason wrote in saying 126K was a fair top and that we’ll meet again in two or three years. Look, 126K is a totally reasonable local top, but it doesn’t mean the cycle’s done. Markets don’t end just because people get tired.
Eternal Codes said Watcher.Guru posts faster on Telegram than X — good call. I agree, but it’s information overload in there. Bots fire faster than most humans can think.
Eric wrote in about the government’s “fair share” tax on crypto miners’ electricity and said, quote, “They should STFU.” Eric, I think we’re on the same page — the government taxing paid electricity use as a “fair share” is nonsense. You already pay for the product.
Noah asked if I’ve used Alchemix — the DeFi protocol offering self-repaying loans. It’s a creative idea: you deposit collateral that earns yield, then borrow synthetic tokens against it while that yield auto-pays the loan. But you’re trusting code and anonymous devs with all your collateral. It’s DeFi roulette until someone builds a bulletproof version.
Crypto Prices
Time: 8:27 a.m. Eastern
Fear & Greed Index: 28 (Fear)
RSI: 44.6 (Edging toward oversold)
Bitcoin: $109,145 (+1% 24h, -2% 7d)
Ethereum: $3,857 (+0.3% 24h, -4.6% 7d)
Binance Coin: $1,092 (+2.2%)
XRP: $2.38 (-0.9%)
Solana: $189 (+1.4%)
Tron: $0.321 (+0.5%)
Dogecoin: $0.193 (+0.7%)
Cardano: $0.635 (-0.6%)
Total Market Cap: $3.67 trillion (+0.6%)
Bitcoin Dominance: $2.1 trillion
Ethereum Share: $465.7 billion
We’ll be off Friday because Kyle’s getting married — congrats, brother — so I’ll see you Monday with more news, charts, and listener questions.
Happy HODLing, everyone.
References & Affiliates
🤖 Coinbase Unveils AI-Powered Crypto Payments Protocol for Autonomous Transactions
💥 WazirX to Restart Trading After $230M Hack Caused Year-Long Shutdown
💸 Crypto Exchange Cryptomus Fined $177 Million by FINTRAC
🥇 CZ Calls Peter Schiff’s Tokenized Gold a “Trust-Me-Bro Asset”
🏛️ Andrew Cuomo’s “Crypto Hail Mary” Unlikely to Give Edge Over Mamdani
🐋 Ethereum Whale Scoops Up $32M in ETH as Bitcoin and Solana Whales Cash Out
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Disclaimer
This content is not financial, legal, or tax advice. It reflects personal opinions for educational and entertainment purposes only.
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