Crypto Market Review: BNB Chain Launch and Abraxas Capital Profit

On Monday, October 26, the crypto industry faced a number of significant events. Key news includes the launch of the new BNB Chain blockchain and large-scale trading operations by major players.

Infrastructure Development

The BNB Chain project announced preparations for launching a new L1 blockchain. This step aims to expand the ecosystem and increase network throughput for users and developers.

The largest fund Aviva has begun operations on the XRPL. The fund's launch marks an important stage in integrating traditional financial instruments into the Ripple Ledger environment.

Market Movements and Investments

Investors are actively responding to market changes. Key events include the following actions:

• Abraxas Capital fund made a profit of $340 million thanks to short positions.
• Arthur Hayes started selling his coins.
• One of Ethereum's early participants (OG) is selling his assets.
• Tom Lee increased his ETH stake.

Galaxy analysts presented a new Bitcoin forecast. Adam Back also gave a speech covering important aspects of the current market situation.

Regulation and Technology

The Central Bank of Russia issued new clarifications regarding the status of cryptocurrencies. A raid was conducted in Moscow against illegal crypto exchanges.

In the technology sector, there was a mass outage of the Telegram messenger. Additionally, systems of Anthropic, which is preparing for an IPO, were hacked. Against this backdrop, GPT-6.1 Terra was launched.

Hong Kong moves to round-the-clock fund trading. The OCC regulator issued corresponding calls for compliance with new standards.