Good morning, my peoples. It’s Tuesday, October 7th, 2025. I’m Matt, this is your Daily Crypto News, and yes—I think we can get in and out in 15 minutes today. If you’re not getting our morning/evening newsletters (plus the extras we drop between), head to dailycryptonews.net and subscribe. And while you’re in Spotify or Apple Podcasts, tap those ⭐⭐⭐⭐⭐ and leave a line—helps a ton.
Alright, let’s cook.
India Pushes Its “Guaranteed” Digital Rupee
India is preparing to roll out a Reserve Bank of India-backed digital currency, marking a major pivot from its old anti-crypto stance. Commerce Minister Piyush Goyal says the new “digital rupee” will make transactions faster, traceable, and “environmentally efficient.”
Those are three words that should always make you raise an eyebrow — faster, traceable, efficient — because in practice they often mean centralized, monitored, and controlled.
Goyal says the project is meant to protect users from “worthless assets” like unbacked cryptos. Meanwhile, the Asia-Pacific region is leading the world in crypto adoption, with India, Pakistan, and Vietnam topping usage charts and total volume climbing from $1.4 trillion to $2.36 trillion this year.
Indian regulators say they’ll create “hybrid frameworks” requiring private issuers to hold verifiable fiat or commodity reserves, while Monika Jasuja from the Emerging Payments Association called the CBDC “a state-backed stablecoin designed to merge trust and technology.”
My Take:
This is the playbook. Every major economy is dressing up control as innovation. A “guaranteed” digital rupee sounds great until you realize that guarantee comes from the same government that taxes your crypto into extinction and decides what counts as “legitimate money.” It’s the same illusion the U.S. and EU are building — programmable money that’s sold as safety but built for surveillance.
Galaxy Digital Names BlockFi’s Ex-CEO to Lead Galaxy One
Remember how Galaxy Digital launched its new app Galaxy One yesterday — the one offering 8% APY and positioning itself against Robinhood and Kraken? Well, today we know who’s running it: Zac Prince, the former CEO of BlockFi.
Yep, that BlockFi — the one that collapsed during the FTX contagion and left customers holding the bag.
Galaxy One is offering 4% APY on FDIC-insured accounts via Cross River Bank (up to $250K), but accredited investors can go for the 8% tier — which is not insured and is “guaranteed” only by Galaxy subsidiaries. Prince says the new product reflects “lessons learned” from BlockFi’s failure, with a fourfold increase in Galaxy’s risk management team since 2022.
My Take:
I said yesterday Galaxy One looked interesting — but this move changes the optics entirely. Bringing in the guy whose last product blew up while promising the same kind of yield? That’s not confidence, that’s nostalgia for disaster. I get that Galaxy wants someone with experience in yield platforms, but you don’t rebuild trust by putting the same architect in charge of the next skyscraper.
Zcash Rockets 240% — But What’s Really Driving It?
Zcash (ZEC) is suddenly the talk of the week. It surged to $165, its highest since 2022, and is up roughly 240% in two weeks. That’s a huge move for a coin that most people forgot existed.
The hype is coming from privacy advocates like Mert Mumtaz, CEO of Helios Labs, who’s calling for a return to “privacy-first assets” and says Zcash should reach $1,000. Naval Ravikant and Gainzy have been amplifying it too, calling ZEC “insurance against Bitcoin.”
Meanwhile, Grayscale announced a new private placement for Zcash earlier this month — basically giving “accredited investors” a fancy back door to buy a privacy coin that’s literally designed to be bought privately.
My Take:
You can feel the irony here. The real story isn’t privacy — it’s speculation. Retail doesn’t care about zero-knowledge proofs; they care about green candles. Zcash is pumping because people think someone else will buy it higher, not because they suddenly want privacy.
Still, I’ll say this — in a world of increasing surveillance and compliance, coins like Zcash might just have their moment again. And if that happens, $165 might not be the end of it.
OpenAI Turns ChatGPT into a Full App Platform
At DevDay 2025, OpenAI unveiled a massive update: ChatGPT is now an app platform. Developers can build plug-ins that run inside ChatGPT — everything from booking flights to browsing Zillow listings — without ever leaving the chat.
Their new App SDK and AgentKit will let users create autonomous “agents” that perform tasks on their behalf. Think of it as WeChat meets Salesforce — a closed ecosystem where conversation replaces clicks.
But with that comes all the same problems: spam apps, gatekeeping, and a walled garden. AgentKit doesn’t support competitors like Claude or Gemini, and developers are already complaining about lock-in.
My Take:
I’ll be honest — I don’t care about developer politics here. What I care about is usability. Apple’s App Store became great because it worked, not because it was “open.” If OpenAI can make ChatGPT feel seamless and productive, people will use it — walls or not. The risk is that it becomes another cluttered bazaar of useless widgets. Let’s hope it stays clean and useful.
The ICE App Debate Gets Heated
Yesterday’s story about Apple and Google removing ICE-tracking apps lit up the inbox. One listener compared the situation to hunting laws — saying using communications to warn targets is like violating “fair chase.” Another listener fired back, saying that’s an oversimplification, and it’s still a free speech issue.
After digging in, the truth is messy. Some states ban electronic coordination in hunting; others don’t. And while warning a fugitive can be obstruction, the bar for that is very high. It depends entirely on intent and effect.
My Take:
This is exactly the gray zone that worries me. The second we let “safety” justify shutting down speech, everything becomes a safety issue. Whether it’s ICE, protests, or even crypto, the principle is the same — once the middlemen decide what kind of coordination counts as legal, sovereignty becomes conditional. Remember shutting down the Canadian truckers bank accounts and shutting off crypto payments because of national security and economic reasons? OH AND SAFTY from COVID!
Speech should be messy. Freedom should be uncomfortable. The alternative is algorithmic silence.
Bitcoin’s Longest, Strongest Weekly Close Ever
Bitcoin just logged its strongest weekly close ever at $123,500, setting up a new phase of price discovery. Futures show 96% long bias — that’s heavy bullish pressure. Analysts say BTC could either consolidate between $122K–$124K or dip back to $118K–$120K before another breakout.
My Take:
I think we grind higher before pulling back. Something like a move to $126K–$128K, then a retrace to the $122K zone before running again. RSI’s neutral, Fear & Greed’s leaning bullish, and there’s still fuel in the tank.
Crypto Prices
Time: 9:03 a.m. Eastern
Fear & Greed Index: 62 (Greedy)
RSI: 54 (neutral, not overbought)
Bitcoin (BTC): $124,900 (+0.25% 24h / +11% 7d)
Ethereum (ETH): $4,742 (+3.5% 24h / +14% 7d)
BNB: $1,323 (+7% 24h / +31% 7d)
XRP: $2.98 (-0.5%)
Solana (SOL): $231 (-1.3%)
Dogecoin (DOGE): $0.264 (+1.4%)
Tron (TRX): $0.345 (+0.5%)
Cardano (ADA): $0.869 (+1.8%)
Total Market Cap: $4.29T (+0.9%)
Bitcoin: $2.48T
Ethereum: $572.1B
Top gainers today: Plasma, Sonic, DEXE, PancakeSwap, and BNB.
Stacks is up 6.6% and 15% on the week.
That’s the show for today. Let me know what you think about India’s digital rupee, Galaxy hiring Zac Prince, and the Zcash mania. Drop a comment on Substack or Spotify — I read every one of them.
And again — if you’re building your long-term crypto position, check out Athenic Crypto Roth IRA and use code DCN for $30 off at athenic.xyz.
I’m Matt — see you tomorrow.
Until then, happy hodling, everyone.
References & Affiliates
🇮🇳 India’s Central Bank Explores Digital Currency Backed by RBI
💼 Galaxy Digital Launches Retail Trading Platform
🕵️ Why Everyone’s Suddenly Talking About Privacy Coin Zcash Again
🤖 OpenAI Turns ChatGPT Into a Full App Platform
📊 3 Bitcoin Charts Bulls Are Watching After BTC’s Weekly All-Time High Close
Self-Custody Crypto Roth IRA:
athenic.xyz
Use Code DCN for $30 off: DCN
Where to Find DCN:
🌐 DailyCryptoNews.net
🐦 twitter.com/DCNDailyCrypto
📈 Trader Cobb on X
🌿 The Grow Me Co
Disclaimer
This content is not financial, legal, or tax advice. It reflects personal opinions for educational and entertainment purposes only.
I am not a financial advisor or expert, and I do not guarantee any specific outcome.
Always do your own research before making any investment or financial decisions.
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