Crypto news today: Bitcoin holds $81K as oil spikes, Initia halts after exploit and HSBC launches a stablecoin

23 Oct 2026

23 Oct 2026, 22:01 UTC+02:00

The stories that mattered for crypto traders on Friday, October 23, 2026.

Markets

• Bitcoin holds around $81,000 as oil climbs. BTC rose about 0.5% to near $81,700 early Friday after Thursday’s tech selloff, when the Nasdaq Composite fell 2.6% in its steepest drop since June. After the Wall Street open it dipped to $80,988 before recovering to about $81,600, while Brent crude jumped nearly 3% to $116 a barrel, its highest since mid-March, on worries about renewed US strikes on Iran. Keith Alan of Material Indicators said a failure to reclaim the 50-day moving average near $81,781 by the daily close could bring a test of $78,000 to $80,000. (CoinDesk, Cointelegraph; our full story)
• Spot bitcoin ETFs lose $635 million. US spot bitcoin ETFs saw $635 million of outflows on Thursday, according to SoSoValue data cited by CoinDesk, after more than $1 billion of inflows in the first three days of the week. Traders are also watching the Fed meeting on Oct. 27-28. (Cointelegraph; our full story)
• The midterm cycle may not repeat. CoinDesk notes that bitcoin bottomed 71, 38 and 13 days after the 2014, 2018 and 2022 midterms. This year the low so far came on July 1 at $57,850, 125 days before the Nov. 3 vote, and the price has since recovered roughly 40%. (CoinDesk)

Security

• Initia halts its chain after an exploit. Initia paused its layer 1 and rollups after an attacker minted unbacked tokens and moved more than $2.6 million to Ethereum, according to security researchers. Initia has not yet confirmed the losses or the cause. (Cointelegraph; our full story)
• Bitcoin Core speeds up some security fixes. Developer Antoine Poinsot said AI tools make some bugs so easy to rediscover that long embargoes no longer help. Flaws that can be found “through a simple LLM prompt” will now be fixed as soon as possible across all maintained versions, with advisories published at the same time. (Cointelegraph)
• Ethereum postpones the Glamsterdam test on Hoodi. The upgrade was due on the Hoodi testnet on Oct. 26, but developers delayed it after ChainSecurity flagged that gas accounting changes in EIP-8037 and EIP-8038 could change how existing contracts handle failed calls. Mainnet has no confirmed date, and there is no sign of current exploitation. (CoinDesk)

Stablecoins, banks and tokenization

• HSBC launches its first stablecoin. RedCoin (RCHKD), a Hong Kong dollar token, is rolling out in the PayMe app, which has more than 3.3 million users, for transfers and payments at over 100,000 merchants. (CoinDesk)
• Sweden’s Riksbank revives the e-krona debate. The central bank wants lawmakers to start preparing legislation, warning that foreign-currency stablecoins and a digital euro could weaken the krona’s role in payments. It has not decided whether to issue one. (CoinDesk)
• 22 companies now object to OKXICE tokenized stocks. Wells Fargo, Intuit and Arm are among six more issuers objecting to tokenized versions of their shares on the OKX and Intercontinental Exchange venture, Reuters reported. (Reuters via Investing.com; our full story)
• SEC puts tokenization on its 2027 exam list. The regulator named tokenized securities among high-risk areas for clearing agency exams, while crypto assets again have no standalone section. (Cointelegraph)

Politics and prediction markets

• Senator Blumenthal probes Tether. He asked CEO Paolo Ardoino for records on a reported $6.3 million deal with Nxum, a firm co-founded by former White House crypto adviser Bo Hines. (Cointelegraph; our full story)
• Robinhood traders bet on bitcoin, gold and oil. Robinhood’s JB Mackenzie said price volatility contracts are now the fastest growing prediction market products, with some crypto contracts settling in 15 minutes. He compared them to zero-day options in how fast losses can build. (CoinDesk)

What it means for traders

• Macro is driving price: oil above $110, ETF outflows and next week’s Fed decision are all in play, and the $80,000 area is the level many traders are watching. Keep position sizes and stops realistic, and compare funding and liquidation rules in our exchange comparison, including BingX and OKX.
• Exploits can freeze funds fast: the Initia halt is a reminder to avoid leaving large balances on young chains and bridges. See how we look at custody and security in our testing method.
• Short-dated bets carry fast risk: 15-minute crypto contracts can wipe out a stake quickly, so treat them like short-dated options, not like holding the coin. This is not financial advice.

Related reviews

• Bingx review
• Okx review

Sources

• CoinDesk: Bitcoin steadies near $81,700 as altcoins rebound, pepe climbs 13%
• Cointelegraph: Bitcoin seeks support above $81K as Brent crude oil hits highest level since March
• Cointelegraph: Bitcoin ETFs bleed $635M as October slides back into the red
• CoinDesk: Bitcoin appears to have decoupled from midterm cycle bottom history
• Cointelegraph: Initia halts blockchain after exploit reportedly drains over $2.6M
• Cointelegraph: Bitcoin Core changes security policy as AI makes bugs easier to find
• CoinDesk: Ethereum delays Glamsterdam test after security devs flag risk to existing contracts
• CoinDesk: HSBC rolls out its first stablecoin to over 3 million everyday app users
• CoinDesk: Sweden's central bank revives e-krona debate as stablecoins and digital euro loom
• Reuters via Investing.com: Wells Fargo, Intuit others object to their shares being tokenized - regulatory document
• Cointelegraph: SEC flags tokenization as high-risk area in 2027 market examinations
• Cointelegraph: US senator probes Tether after reported deal with ex-Trump crypto adviser
• CoinDesk: Robinhood sees surge in bitcoin, gold prediction markets as traders move beyond sports

News is for information only and is not financial advice. More crypto news