Good morning, everybody. It’s your Daily Crypto News for Thursday, October 2, 2025. I’m Matt. I know you missed me. Kyle held it down the last two days—Comrade Kyle had some takes I’ll react to tomorrow—but first, today’s news.
Sweden flirts with a national Bitcoin reserve
Two MPs from the Sweden Democrats—Dennis Diocarev and David Perez—filed a motion urging the government to study a national Bitcoin reserve. The pitch: treat BTC like digital gold to diversify alongside FX and bullion, hedge inflation, and make clear Sweden won’t redefine legal tender or sprint toward a CBDC. It tracks a broader global drumbeat: the U.S. moved confiscated coins into a national reserve earlier this year, Bhutan and El Salvador already hodl, and several U.S. states are pushing their own reserve laws. Fans say Bitcoin’s neutrality lowers political risk in sovereign reserves; critics keep pointing at volatility and fraud history. Also, what ever happened to “audit Fort Knox”? That storyline… got real quiet.
Sora 2 drops, internet melts
OpenAI’s Sora 2 landed with audio generation and a cameo feature that lets users insert real people into synthetic clips. Cue instant chaos: Sam Altman stealing GPUs in Target cosplay, anime parodies everywhere, and a thousand copyright lawyers clearing their throats. The opt-out copyright posture flips the norm: content is in unless rightsholders remove it. You can imagine how Disney, Pokémon, and Studio Ghibli feel about that. And yes, the NSFW edge cases showed up immediately—filters are getting stress-tested in real time. One friend pointed at a viral Mr. T “94th birthday” bit that took two seconds to debunk—he’s 73—but 20,000 shares later lots of folks think otherwise. My take: misinformation has always traveled—back when three TV networks and the morning paper set the narrative, there was just less visible dissent. The difference now is velocity on both sides: lies move faster, but so does fact-checking. Net negative or net neutral? I’m still torn.
Doodles x Froot Loops: nostalgia goes on-chain
Ethereum’s Doodles teamed with Kellogg’s Froot Loops (yes, “Froot,” not “Fruit”—mind blown) on a 500-box “small batch” collectible run. No cereal inside, just art boxes with a Base-minted NFT, some signed by co-founder Scott “Burnt Toast” Martin and one with an original sketch. At their peak, Doodles traded near $57,000; today they’re closer to $3,500. The lesson I keep coming back to: NFTs as a tech primitive are fantastic for verifiable credentials and ownership; as culture, only the brands with a real soul and a plan survive. Doodles keeps shipping real-world IP moves—that’s how you stay relevant.
Polymarket preps a regulated U.S. relaunch
Polymarket acquired QCX LLC for $112M, rebranding as Polymarket US and securing a DCM license so it can self-certify event contracts for American users. I went looking for political strings tied to the acquisition and didn’t find any this morning—could just be the straightest path back to the States. Prediction markets are one of crypto’s most obvious product-market fits; now we see if they can hum inside U.S. guardrails.
Mailbag: “Learn to adapt,” not just “learn to code”
Eric wrote that he retired after seeing ChatGPT write code faster than he could read it. Hard same on the vibe shift. For 30 years, IT went from “power cycle the router” to “live inside distributed systems,” and now models eat boilerplate for breakfast. The new meta isn’t “learn to code,” it’s “learn to adapt”: prompt fluency, system design, review, red-teaming, guardrails, domain expertise. Humans move up the stack as the stack rises.
Betamax vs. VHS, and why the analogy matters for crypto
Some of you compared XRP to Betamax—“better tech that lost due to nefarious deals.” I’m going to tweak that. Betamax had sharper video, but one fatal miss: one-hour tapes when people wanted two-hour movies. JVC’s VHS traded a little quality for runtime, licensed the format widely, won rental stores (and adult studios), and hit scale. Sony stayed closed, moralized content, and arrived late on longer tapes. That’s not a conspiracy; that’s product-market fit, distribution, and timing. If you want the analogy to hold, it’s that open ecosystems and real-world fit beat ivory-tower superiority every cycle.
Quick PSA + a perk for DCN listeners
If you’re setting up a crypto Roth IRA, several of you asked who actually makes that painless. We had Athenic on the show—use code DCN for $30 off your setup at athenic.xyz. It’s a flat $15/month after. If you’re going that route, again: code DCN at athenic.xyz knocks $30 off your start.
Crypto Prices
Time: 10:08 a.m. ET — Fear & Greed: 51 (Neutral)
Bitcoin: $119,550 (+2.0% 24h; +7.5% 7d)
Ethereum: $4,412 (+2.4% 24h)
XRP: $2.98 (+1.5% 24h)
BNB: $1,055 (+2.9% 24h)
Solana: $226 (+3.0% 24h)
Dogecoin: $0.254 (+4.5% 24h)
Tron: $0.341 (+0.8% 24h)
Cardano: $0.852 (+1.6% 24h)
Standouts: Litecoin $118 (+7% 24h), CRO $0.218 (+9% 24h), Monero up ~9%, Aptos up ~9%, Athen—up ~7.5%, and Zcash the shocker: +66% 24h, +160% 7d.
Totals: Market cap $4.1T (+2.5% 24h), BTC $2.38T, ETH $531.8B. RSI sits ~61—buying pressure, but nowhere near a blow-off.
That’s the show. I’ll circle back on Kyle’s segments tomorrow and dig into why Zcash is moon-walking like it’s 2017. Until then, happy hodling—and Go Guardians.
References
🇸🇪 Swedish Lawmakers Propose National Bitcoin Reserve
🤖 OpenAI’s Sora 2 Unleashed Internet Chaos With Dildo Ads and Furry CEOs
🥣 Why Crypto Brand Doodles Landed on a Froot Loops Cereal Box
📊 Prediction Market Polymarket Relaunches in US for Sports and Elections
🚀 Litecoin and Stellar Lead Altcoin Rally as Bitcoin Bounces in Uptober
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