The market this morning

XRP Ledger patches a decade-old bug that could have minted about 18 trillion XRP

By Crypto Info News

Good morning. The XRP Ledger patched an overflow bug in its payment engine that could have let an attacker mint about 18 trillion spendable XRP in a single transaction, The Block reported [5]. Cointelegraph, in its weekly digest, described security researchers using AI to uncover the flaw and receiving a $250,000 bounty, and framed the figure as a "$94 billion" bug [1]. The two accounts agree on the scale of tokens at risk; they describe the discovery differently. XRP closed the day at $1.4090114639140177, up 0.5557366377485571% over 24 hours, with a market capitalisation of $88950430440.96765.

Custody was the day's other security theme. Ledger confirmed an unauthorised hardware implant and said losses may exceed $86 million, adding that the incident appeared isolated to a single reseller and its Southeast Asian market, Cointelegraph reported [13]. A separate Cointelegraph digest said the attack had spread to the EU, citing a user who reported buying a tampered device from a large European retailer [1]. Coldcard, meanwhile, said it was investigating how a phishing link appeared on its X account and advised users not to interact with it [12].

Flows ran negative. Decrypt reported that Bitcoin ETFs saw $386.3 million in net outflows through the first seven trading days of October, and that Ethereum funds had posted nine straight days of losses [7]. Prices themselves held: Bitcoin closed at $83690.86923174463, up 0.932206180137919%, and Ether at $2534.632372231471, up 1.2106463235422347%. Cointelegraph said investors would wait an extra day to learn whether Strategy added to its Bitcoin treasury in early October [6].

On policy, CoinDesk reported that several amicus briefs, an interim final rule and a rule proposal now surround prediction markets, though the Supreme Court has not said whether it will take up the cases [3]. CoinDesk also reported that the failure of the Clarity legislation leaves spot-market oversight unresolved [8], and The Block said Kalshi was investigating roughly $173 in bets, placed before a reported announcement of Trump's press-secretary pick, expected to pay out about $9,600 [14].

Elsewhere, the IMF found real but thin demand for tokenized stocks: more than half of trading occurs outside US market hours in a roughly $2.3 billion market that remains volatile and illiquid, per Decrypt and CoinDesk [4][11]. The Block reported a trader netted $1.28 million on the new exchange Papertrade by moving Hyperliquid's ETH prices, then lost $450,000 when 30 short positions were liquidated on Saturday night after more than three hours open [2]. And Decrypt reported that a Zcash full node developer expects hash-based signatures to land in the protocol in January, and is rolling out a tool for rotating transparent addresses this week [10].