Brodigy’s Buzz: Crypto News Stories of October 2025 That Shook the Market
October 2025 has been one of crypto’s most volatile months yet. The total crypto market cap now sits around $3.9–$4.0 trillion, recovering from mid-month lows after a $370 billion drawdown triggered by US–China trade tensions and a wave of leveraged liquidations.
Bitcoin (BTC) rocketed to a new all-time high above $125,000 before plunging to $104,782 in what became one of the largest single-day wipeouts on record, erasing over $19 billion in positions. Meanwhile, major banks and exchanges continued to expand deeper into crypto, even as DeFi volumes shattered records, proving how fast the ecosystem is maturing despite volatility.
Here’s a breakdown of the month’s top stories.
Analysts Call $19B Crypto Crash a ‘Controlled Deleveraging,’ Not Market Collapse
This month’s record $19 billion crypto market liquidation has split opinions across the industry, with analysts from CryptoQuant describing it as a “controlled deleveraging” rather than a cascading sell-off. Open interest on DEXs dropped from $26 billion to below $14 billion as reported by DefiLlama, while lending protocol fees and DEX volumes surged, suggesting a natural market reset. However, others accused major market makers of worsening the crash by withdrawing liquidity, creating a “liquidity vacuum” that deepened the price drop.
Coinbase’s Acquisition Spree Accelerates with $375M Echo Deal
Coinbase continued its aggressive merger and acquisition (M&A) strategy in October 2025, acquiring Echo, a platform for tokenised investments in crypto startups, for $375 million in a cash-and-stock deal. According to Cointelegraph, this marks Coinbase’s eighth acquisition of the year, following a $2.9B Deribit purchase in August and Sensible in September, bringing total 2025 spend to over $3 billion as the exchange eyes dominance in derivatives, DeFi, and tokenised assets. Echo’s tech will integrate with Coinbase’s LiquiFi acquisition (July 2025), enabling seamless cap table management for token-raised startups and unlocking onchain fundraising for retail users, potentially adding $500M+ in annual volume to Coinbase’s ecosystem.
JPMorgan to Enable Bitcoin and Ether-Backed Loans for Clients
JPMorgan Chase reportedly plans to allow clients to borrow against their Bitcoin and Ether holdings, marking a major step in Wall Street’s embrace of digital assets. According to Bloomberg, the initiative will use a third-party custodian to store client assets, potentially making BTC and ETH more appealing to institutional investors seeking greater asset utility. While the offering may not launch until 2026, it follows months of speculation and reflects JPMorgan’s broader push into crypto, from its JPM Coin stablecoin to its growing involvement with Bitcoin ETFs and exploration of stablecoin products.
DeFi Perps Trading Volume Surges Past $1 Trillion in Record-Breaking October
Decentralised perpetual (perps) trading has hit an all-time high this October, surpassing $1 trillion in volume, eclipsing August’s $762 billion record with a week left in the month. Leading the charge are Hyperliquid ($317.6B), Lighter ($255.4B), Aster ($177.6B), and edgeX ($134.7B), with a single-day record of $78 billion on 10 October 2025. While centralised exchanges like Binance and Bybit still dominate overall volumes, DEXs are rapidly catching up as protocols like Hyperliquid — now integrated with MetaMask — attract traders seeking high-leverage, 24/7 trading and transparent, non-custodial execution.
From the controlled deleveraging that cleared excess leverage, to JPMorgan’s move toward crypto-backed lending, to Coinbase’s billion-dollar expansion and DeFi’s trillion-dollar trading month, the market showed remarkable adaptability amid uncertainty.
As we head into November, macro headwinds remain, but the direction is clear: crypto is maturing into a market where volatility, liquidity, and institutional participation shape its next growth cycle.
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