Briefs · Evening brief
Evening brief: Strategy sets preferred-dividend start dates ahead of the Oct. 28 vote, and Cipher Digital proposes an $850 million convert
Bitcoin closed the U.S. session nearly unchanged from the morning on Coinbase, Strategy's latest proxy materials set Nov. 1 for STRC daily dividends and Jan. 1 for the other three preferreds if the Oct. 28 vote passes, and Cipher Digital filed to offer $850 million of 0.00% converts due 2032.
Bitcoin closed the U.S. session at $83,219.11 on Coinbase, 0.53% above Monday's close and 0.03% below its 6:42 a.m. ET level. Ether and solana recovered part of the overnight dip but still finished below Monday. [1][3]
The stake is Strategy's preferred-dividend calendar. Proxy materials filed at 4:01 p.m. ET say that if holders approve daily dividends at the Oct. 28 meeting, payments would begin Nov. 1 for STRC and Jan. 1 for STRF, STRK and STRD; voting closes 11:59 p.m. ET Oct. 27. [9][10]
U.S. session close
Coinbase 4:00 p.m. ET one-minute candles vs Monday's 4:00 p.m. ET candle and the 6:42 a.m. ET ticker. [1][3]
| Asset | 4:00 p.m. ET close | vs Mon close | vs 6:42 a.m. ET |
|---|---|---|---|
| BTC-USD | $83,219.11 | +0.53% | −0.03% |
| ETH-USD | $2,506.90 | −0.50% | +0.56% |
| SOL-USD | $107.46 | −0.71% | +1.13% |
| XRP-USD | $1.3712 | +0.52% | +0.97% |
Bitcoin's 6:40 a.m. ET to 4:00 p.m. ET range was about 1.1% (high $83,784.68; low $82,866.38). [1]
Movers
OP led the Coinbase 28-pair USD screen. TIA gave back most of its overnight spike; NEAR and FET lagged. Twenty-four of 28 pairs rose after 6:42 a.m. ET. [2]
| Coin | 4:00 p.m. ET close | vs Mon close | vs 6:42 a.m. ET |
|---|---|---|---|
| OP | $0.15302 | +12.32% | +11.66% |
| INJ | $8.136 | +6.08% | +3.66% |
| TIA | $0.5795¹ | +5.40% | −7.62% |
| FIL | $1.1823 | +4.36% | +3.10% |
| UNI | $7.5383 | +2.02% | +3.15% |
| FET | $0.21276 | −4.82% | −0.08% |
| NEAR | $5.0175 | −8.16% | −1.84% |
¹ No trade in the 4:00 p.m. ET minute; TIA is the 3:59 p.m. ET candle. [2]
Perps / funding
OKX USDT perpetual swaps only, ~4:15 p.m. ET. Funding, the periodic payment between long and short holders, drifted slightly positive; next settlement is 8:00 p.m. ET. [4]
| BTC-USDT-SWAP | ETH-USDT-SWAP | SOL-USDT-SWAP | |
|---|---|---|---|
| Current-period funding | +0.004380% | +0.005422% | +0.006962% |
| Last settled (12:00 p.m. ET) | +0.004842% | −0.000123% | −0.000024% |
| Mark − index | −4.8 bp | −3.9 bp | −4.7 bp |
BTC's current rate sits at its average over the last 100 settled OKX periods (Sep. 10–Oct. 13; mean +0.004329%). Mark stays a few basis points under the index. [4]
OKX liquidations since ~6:26 a.m. ET were small and two-way: $2.14 million BTC longs / $1.07 million shorts, and $2.16 million ETH longs / $2.92 million shorts, at bankruptcy price. Cross-exchange totals are not in this brief. [5]
Digital-asset equities
Cash close 4:00 p.m. ET Tuesday vs Monday. S&P 500 7,805.45 (−0.02%); Nasdaq Composite 27,204.38 (−0.15%). [6][7]
| Ticker | Close | vs Mon | Note |
|---|---|---|---|
| COIN | $181.79 | +0.78% | Second straight small gain |
| MSTR | $152.18 | −0.33% | Faded from $156.19 high |
| HOOD | $110.52 | +1.19% | Best of the platforms |
| CRCL | $84.27 | +0.48% | Recovered from $81.65 low |
| MARA | $9.11 | −3.50% | Weakest of the group |
| RIOT | $16.67 | +1.21% | Bounced off $15.63 low |
| CLSK | $10.15 | −1.46% | Lower |
| HUT | $83.61 | −1.91% | Recovered most of a drop to $78.70 |
| IREN | $34.80 | 0.00% | Unchanged (Nasdaq) |
| XRPN | $16.48 | −2.54% | Second session; range $15.70–$17.86 |
What printed
01 · Strategy sets preferred-dividend start dates; voting closes Oct. 27. A DEFA14A accepted at 4:01 p.m. ET Tuesday states that voting "closes at 11:59 PM Eastern on October 27th," the special meeting is Oct. 28, and "If approved and when declared, daily dividends would begin November 1st for STRC and January 1st for the other three. Not voting counts as a no." [9][10]An 8-K at 8:00 a.m. ET put Monday's print on EDGAR: 250 BTC for $21.5 million (avg $86,194) and 1,932,145 STRC shares for $192.4 million; holdings 848,250 BTC at avg cost $75,444. [8]
02 · Cipher Digital proposes $850 million of 0.00% convertible notes due 2032. An 8-K at 8:10 a.m. ET Tuesday says Cipher intends to offer, subject to market and other conditions, $850.0 million of 0.00% convertible senior notes due 2032 to QIBs under Rule 144A, with a 13-day option for up to $150.0 million more. Proceeds are slated for capped calls, Barber Lake equity, HPC build-out and corporate purposes, with a concurrent exchange of some 1.75% 2030 converts for common stock. [11][12]
03 · Tether invests in EFY Finance for LATAM stablecoin rails. Tether said Oct. 13 it invested in EFY Finance, a LATAM firm with USD₮ and USA₮ on/off-ramps, OTC, wallets and cards across more than 12 currencies, settling to local accounts in 17 countries. The release does not state the dollar size. [13]
04 · Aave Risk Stewards post Oct. 13 cap and IRM changes. At 3:37 p.m. ET, LlamaRisk recommended Monad USDC supply/borrow caps to 350M/315M, Core cuts to USDtb, LDO (supply to 1) and tETH, and Slope1 up 10 bps on V3 stablecoin reserves. The post is a recommendation; execution is separate. [14]
Open items still in play
- CFTC crypto ANPRM: comments due Dec. 14. FR Doc. 2026-20888 published today. The Oct. 9 event-contract NPRM (9310-26) and casino IFR (9309-26) were still not on Federal Register public inspection as of ~4:15 p.m. ET, so their 30-day clocks have not started. [15][17][18]
- SEC crypto custody: comments due Dec. 7. FR Doc. 2026-20466, published Oct. 6. [16]
- Strategy vote: Oct. 28. Virtual special meeting Wednesday, Oct. 28, 2026, at 10:00 a.m. ET; voting closes 11:59 p.m. ET Oct. 27. If approved and when declared, daily dividends begin Nov. 1 (STRC) and Jan. 1 (STRF/STRK/STRD). [9][10]
Sources (18)
- Coinbase Exchange, BTC-USD, ETH-USD, SOL-USD and XRP-USD one-minute candles (Monday Oct. 12 and Tuesday Oct. 13, 4:00 p.m. ET; Tuesday 9:30 a.m. ET), five-minute candles 6:40 a.m. ET to 4:00 p.m. ET, and tickers. Accessed Oct. 13, 2026, 4:15 p.m. ET.
- Coinbase Exchange, liquid USD movers screen, 28 pairs. Accessed Oct. 13, 2026, 4:15 p.m. ET.
- Coinbase Exchange, BTC-USD, ETH-USD, SOL-USD and XRP-USD tickers, Tuesday ~6:42 a.m. ET (morning brief v3 reference). Accessed Oct. 13, 2026, 6:42 a.m. ET.
- OKX public API, BTC-USDT-SWAP, ETH-USDT-SWAP and SOL-USDT-SWAP funding-rate, funding-rate-history (100 settled periods), mark-price, index-tickers and open-interest. Accessed Oct. 13, 2026, 4:15 p.m. ET.
- OKX public API, liquidation-orders, BTC-USDT, ETH-USDT and SOL-USDT perpetual swaps, filled since ~6:26 a.m. ET; notional = contracts × contract value × bankruptcy price. Accessed Oct. 13, 2026, 4:15 p.m. ET.
- Yahoo Finance chart API, COIN, MSTR, HOOD, CRCL, GLXY, MARA, RIOT, CLSK, HUT, IREN, XRPN, ^GSPC, ^IXIC. Accessed Oct. 13, 2026, 4:15 p.m. ET.
- Nasdaq quote API, XRPN and IREN, "Closed at Oct 13, 2026 4:00 PM ET." Accessed Oct. 13, 2026, 4:15 to 4:16 p.m. ET.
- Strategy Inc, Form 8-K, accession 0001193125-26-419726, accepted 8:00:15 a.m. ET Oct. 13, 2026 (Ex. 99.1). Accessed Oct. 13, 2026, ~4:16 p.m. ET.
- Strategy Inc, DEFA14A, accession 0001193125-26-420392, accepted 4:01:01 p.m. ET Oct. 13, 2026. Accessed Oct. 13, 2026, ~4:16 p.m. ET.
- Strategy Inc, DEF 14A, accession 0001193125-26-413159, filed Oct. 5, 2026. Accessed Oct. 13, 2026, ~4:16 p.m. ET.
- Cipher Digital Inc., Form 8-K, accession 0001193125-26-419743, accepted 8:10:47 a.m. ET Oct. 13, 2026. Accessed Oct. 13, 2026, ~4:16 p.m. ET.
- Cipher Digital Inc., Ex. 99.2, proposed $850.0 million 0.00% convertible senior notes due 2032, Oct. 13, 2026. Accessed Oct. 13, 2026, ~4:16 p.m. ET.
- Tether, "Tether Invests in EFY Finance to Accelerate Institutional Stablecoin Usage in LATAM," Oct. 13, 2026. Accessed Oct. 13, 2026, ~4:16 p.m. ET.
- Aave Governance, "Risk Stewards: Cap and IRM Changes on Aave V3 / 2026.10.13," topic 25839, created 3:37 p.m. ET Oct. 13, 2026. Accessed Oct. 13, 2026, ~4:17 p.m. ET.
- Federal Register, FR Doc. 2026-20888; comments close Dec. 14, 2026. Accessed Oct. 13, 2026, ~4:15 p.m. ET.
- Federal Register, FR Doc. 2026-20466; comments close Dec. 7, 2026. Accessed Oct. 13, 2026, ~4:15 p.m. ET.
- Federal Register, Public Inspection current list and CFTC-filtered API (count 0 as of ~4:15 p.m. ET). Accessed Oct. 13, 2026, ~4:15 p.m. ET.
- CFTC, Press Releases index (latest still 9310-26 / 9309-26). Accessed Oct. 13, 2026, ~4:15 p.m. ET.
Holding the Corner.
Not financial advice.
