Latest Crypto News and Market Updates – October 7

1. Bitcoin surpasses $126,000, Ethereum nears $4,700

Bitcoin (BTC) continued its upward momentum, climbing past 126,000 USD, up 0.85% in the last 24 hours. Ethereum (ETH) also rose 0.58%, trading around 4,700 USD. The steady rally of the two largest cryptocurrencies is reinforcing short-term market optimism.

2. Galaxy Digital transfers over $10 million in ASTER to Binance

A wallet linked to Galaxy Digital, which holds 133 million USD in ASTER, transferred 10.184 million USD worth of ASTER to Binance — the first such movement in two weeks. Analysts suggest this could signal upcoming liquidity operations or portfolio restructuring.

3. Ministry of Finance: Only five companies to receive crypto asset pilot licenses

According to the Deputy Minister of Finance, Vietnam will issue pilot licenses for no more than five companies to test crypto asset operations.
No official applications have been submitted yet, though several firms have held preliminary discussions.
Industry experts criticized the high capital requirements and regulatory uncertainty, warning that such policies may favor large financial institutions over fintech innovators.

4. Bee Maps raises $32 million, launches “Bee Membership” model

Bee Maps, the DePIN infrastructure provider formerly known as Hivemapper, has raised 32 million USD and introduced a new Bee Membership subscription model to lower participation barriers for contributors.
The company is shifting toward a recurring revenue structure to expand its contributor network and stabilize long-term income.

5. Plume Network receives SEC approval, PLUME surges 30%

Plume Network, a Layer-2 network focused on Real World Assets (RWA), has been approved by the U.S. SEC to operate as a registered digital securities transfer agent.
This milestone marks a key step toward bridging TradFi and DeFi.
Following the announcement, PLUME surged 30%, with trading volume up 185%, according to CoinGecko.

6. Coinbase Markets adds DoubleZero (2Z) to its roadmap

Coinbase Markets announced on X (formerly Twitter) on October 7 that DoubleZero (2Z) has been added to its internal evaluation roadmap.
This inclusion means the project is under review, but not yet confirmed for listing or trading support.

7. China increases gold reserves for the 11th consecutive month

The People’s Bank of China (PBoC) reported gold reserves of 74.06 million ounces at the end of September, up 40,000 ounces from August, equivalent to 2,303.5 tons.
This marks the 11th straight month of gold accumulation, signaling Beijing’s continued diversification of foreign reserves.

8. Aptos introduces “Trump USD 1” stablecoin

Aptos announced on X that the Trump USD 1 token has officially launched on its network.
The goal is to create a stable, transparent, and accessible digital stablecoin to power the next generation of on-chain financial infrastructure.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.