Briefs · Evening brief
Bitcoin ended the U.S. session 0.59% above Friday's close on Coinbase after fading from its morning level, Evernorth's shares touched $19.38 before closing down 1.05%, per Nasdaq, and Farside had not yet published Monday's spot-ETF flows at 4:22 p.m. ET.
Bitcoin closed the U.S. session at $82,784.08 on Coinbase, 0.59% above Friday's close and 0.39% below its 8:25 a.m. ET level, as the weekend gain faded across the market. [1][3]
The stake to watch is Evernorth. XRP closed at $1.3641, 4.65% below the $1.43069 "Closing XRP Price" Evernorth used to price its private placements, a gap that was about 2.3% at 8:25 a.m. ET That was the backdrop for the XRP treasury company's first Nasdaq session under the Evernorth name. [1][3][13][9]
Coinbase 4:00 p.m. ET one-minute candles vs Friday's 4:00 p.m. ET candle and the 8:25 a.m. ET ticker. [1][3]
| Asset | 4:00 p.m. ET close | vs Fri close | vs 8:25 a.m. ET |
|---|---|---|---|
| BTC-USD | $82,784.08 | +0.59% | −0.39% |
| ETH-USD | $2,519.43 | +1.72% | −0.78% |
| SOL-USD | $108.23 | −0.30% | −2.29% |
| XRP-USD | $1.3641 | −1.52% | −2.39% |
Bitcoin slipped below Friday's $82,299.81 close in the 2:45 p.m. ET five-minute bar, to a low of $82,199.26, then recovered. The size does not matter much: its 8:25 a.m. ET to 4:00 p.m. ET range was about 1.1%, and it finished 0.42% above its 9:30 a.m. ET level. [1]
All 28 pairs in the Coinbase USD screen fell between 8:25 a.m. ET and 4:00 p.m. ET; bitcoin fell least. The weekend leaders still lead against Friday. [2]
| Coin | 4:00 p.m. ET close | vs Fri close | vs 8:25 a.m. ET |
|---|---|---|---|
| TIA | $0.5498 | +17.93% | −5.68% |
| NEAR | $5.4635 | +16.97% | −3.35% |
| INJ | $7.67 | +11.95% | −3.93% |
| ALGO | $0.123 | +10.34% | −4.60% |
| OP | $0.13623 | +8.61% | −1.94% |
| ICP | $3.2468 | +8.23% | −5.21% |
| FIL | $1.1329 | +5.60% | −8.74% |
| ATOM | $1.8403 | −8.82% | −0.89% |
FIL gave back the most after 8:25 a.m. ET; ATOM is the weakest against Friday. [2]
Farside had not published Monday's flows as of 4:22 p.m. ET. Its Oct. 12 row is a placeholder with dashes for every fund, so this brief reports no Monday figure. U.S. stock exchanges were open; Columbus Day closed only the bond market. [4][5][19][20]
Friday Oct. 9: spot bitcoin ETFs took in $21.1 million (IBIT +$22.4 million), after outflows of $484.9 million on Oct. 7 and $244.1 million on Oct. 8. Spot ether ETFs lost $56.1 million, all from ETHA, their ninth straight outflow session (Sep. 29 to Oct. 9). [4][5]
OKX USDT perpetual swaps, 4:21 p.m. ET. Funding, the periodic payment between long and short holders, stayed near flat: BTC +0.003638% for the period settling at 8:00 p.m. ET, from +0.008096% at 8:25 a.m. ET; ETH +0.003065%, from +0.001206%. Mark price sat 4.6 bp (BTC) and 4.8 bp (ETH) under the index. [6]
Liquidations ran long all day, on OKX only. From 8:25 a.m. ET to 4:20 p.m. ET, OKX liquidated $6.02 million of BTC longs against $0.36 million of shorts, and $7.10 million of ETH longs against $0.57 million of shorts, at bankruptcy price; the biggest cluster came from 8:25 to 8:59 a.m. ET Cross-exchange totals are unavailable: Coinglass, Binance Futures and Bybit were not called after all three failed this morning. [7]
U.S. regulators were quiet for Columbus Day, and EDGAR accepted no filings Monday; company news came through IR pages and wires. [21][22]
01 · Evernorth closes its first Nasdaq session as Evernorth at $16.91 after touching $19.38. XRPN closed at $16.91 at 4:00 p.m. ET, down $0.18 (−1.05%), in a $16.39 to $19.38 range, per Nasdaq. [9] The comparison is the $17.09 Oct. 9 close carried under the same ticker from the SPAC, Armada Acquisition Corp. II. [10] Evernorth also named Hugo Jeandesboz, previously Co-Chief Investment Officer at Coinbase Asset Management, as Chief Investment Officer, and corrected its closing 8-K for "a clerical error": delayed-funding subscribers received 1,078,614 Class A shares, not 663,510. [11][13]Its stated "approximately 473 million XRP" was worth about $645 million at the 4:00 p.m. ET XRP close (Le Coin calculation). [12][1]
02 · Strategy adds 250 bitcoin and buys back $192 million of STRC preferred. Strategy said it bought 250 BTC from Oct. 5 to Oct. 11 at an average of $86,194, including fees, funded with $21.0 million of MSTR at-the-market proceeds and $0.5 million of USD Cash. [14] Its ledger shows 848,250 BTC at an average cost of $75,444. [15] Bitcoin's 4:00 p.m. ET close was about 4% below last week's purchase average (Le Coin calculation). [1][15]The larger number is the $192 million STRC repurchase. [14] Le Coin's view: the buyback was roughly nine times the bitcoin purchase, 16 days before holders vote on daily preferred dividends. [14][25]
03 · Aave risk adviser LlamaRisk backs Tether America's USAT as borrow-only, with a 20 million cap. At 2:52 p.m. ET, LlamaRisk supported listing USAT on Aave V3 Core and the V4 Core Hub "as a borrowable, non-collateral reserve priced at a hardcoded $1," with a 20 million USAT supply cap and 0% loan-to-value. [16] That compares with 183,317,585.50 USAT circulating on Ethereum in its count. [17] It flagged that upgrade authority and every privileged function "sit with one 3-of-5 multisig with no timelock and no pause lever." The proposal is still a request for final comment (ARFC); nothing is live. [16]
04 · Standard Chartered switches on custody for Ripple's RLUSD stablecoin. Standard Chartered said institutional custody of Ripple USD (RLUSD) on the XRP Ledger "is now live" through its DIFC branch, regulated by the Dubai Financial Services Authority. It is also working with Ripple and LMAX Group "to enable RLUSD as eligible collateral" without moving the tokens to the venue; that part remains "subject to final documentation, successful testing" and approvals. [18]
The broad tape was quiet: S&P 500 7,807.24 (−0.06%), Nasdaq Composite 27,245.90 (−0.44%). [8] COIN $180.39 (+0.56%), MSTR $152.68 (−1.08%). Miners were mostly soft: MARA $9.44 (−2.18%), RIOT $16.47 (−2.46%), CLSK $10.30 (−1.86%); HUT was the exception at $85.24 (+1.15%). [8]
Holding the Corner.
Not financial advice.