Crypto malware, major acquisitions, and market shifts in crypto news

Crypto malware, major acquisitions, and market shifts in crypto news

Crypto News Round-Up — October 2025

Today’s roundup covers key crypto developments from the past day, spanning cybersecurity, market moves, and policy shifts. We highlight a novel blockchain malware tactic by state hackers, major exchange acquisitions and listings, and evolving government oversight. Each story below is summarized with factual details and a brief analysis of its significance.

North Korean hackers hide crypto-stealing malware in blockchains

Security researchers have uncovered a new threat from North Korean state-sponsored hackers (UNC5342) that embeds cryptocurrency-stealing malware directly in blockchain smart contracts. This “EtherHiding” technique involves concealing malicious JavaScript payloads in Ethereum and BNB chain contracts (www.techradar.com) (TechRadar). When victims (often Web3 developers) trigger certain actions on compromised websites or fake job postings, a loader (JadeSnow) retrieves and installs the InvisibleFerret backdoor from the blockchain (www.techradar.com) (www.tomshardware.com). Because the malware is stored on-chain and executed via read-only calls, it avoids normal detection and takedown. Google’s Threat Intelligence Group reports this is the first known instance of nation-state actors using immutable blockchain code to distribute malware (www.tomshardware.com) (Tom’s Hardware).

  • Blockchain immutability makes the malware “bulletproof” and hard to remove once deployed on-chain.
  • Embedding malware in smart contracts is a new, stealthy attack vector, forcing developers to treat contract code like potential attack surface.
  • Highlights growing sophistication of crypto-targeted cybercrime and the need for stronger security practices in the Web3 ecosystem.

Coinbase to acquire Echo for $375M to expand token fundraising

Coinbase announced it will buy Echo, a crypto fundraising platform, in a $375 million cash-and-stock deal (www.reuters.com) (Reuters). Echo’s Sonar platform enables new token launches and capital raises; Coinbase plans to integrate these on its exchange to let projects manage fundraising and token sales directly (www.reuters.com). Echo – founded by crypto trader Jordan “Cobie” Fish – has already facilitated over $200 million in funding rounds since 2023. This move comes amid a wave of M&A in crypto: for example, Coinbase’s deal follows Kraken’s recent acquisition of Small Exchange for $100 million to bolster its derivatives offerings (www.reuters.com). Wallets and trading platforms are rapidly adding new services.

  • Empowers crypto startups with an on-ramp to raise capital through a regulated exchange platform.
  • Reflects consolidation in the industry, as major exchanges integrate fundraising, trading, and token services into one suite.
  • Signals continued investor confidence and growth in crypto infrastructure under a supportive regulatory climate.

Ripple-backed Evernorth plans $1B Nasdaq listing for XRP

Ripple’s venture arm Evernorth has filed to go public via a merger, expecting to raise over $1 billion in a Nasdaq listing planned for early 2026 (www.reuters.com) (Reuters). Evernorth will focus on accumulating XRP, making it the largest publicly traded treasury of the cryptocurrency (www.reuters.com). The deal follows Ripple’s favorable court outcome resolving a securities lawsuit, boosting confidence in XRP’s legitimacy. Evernorth is led by former Ripple executive Asheesh Birla, who will step down from Ripple’s board to run the company, and has backing from SBI Holdings ($200M), Pantera Capital and others (www.reuters.com). The firm says it will use the funds for acquisitions and to build a dedicated team amid crypto market volatility.

  • Opens a new channel for institutional investment in XRP, likely supporting its price and market depth.
  • Shows the impact of regulatory clarity (Ripple’s lawsuit win) in enabling large-scale crypto-related ventures.
  • May inspire similar publicly listed crypto treasury companies, bringing more capital and attention to other tokens.

Japan considers letting banks offer crypto trading (Nikkei report)

According to a Nikkei report, Japan’s Financial Services Agency is planning regulatory changes to let banking group subsidiaries offer cryptocurrency trading services (www.reuters.com) (Reuters). Currently, banks’ affiliates are barred from registering as crypto exchanges, but the proposal would allow securities arms of banks to enter the crypto market. The FSA is also considering lifting a ban on banks holding crypto as investments (www.reuters.com). These changes aim to foster competition with established crypto platforms and would mark a major shift in Japan’s approach. At the same time, regulators expect new safeguards due to the volatile nature of crypto assets.

  • Could channel large volumes of funds into crypto markets as traditional banks and brokerages onboard clients.
  • Represents a measured acceptance of crypto by mainstream finance in Japan, a major economy.
  • Suggests enhanced oversight and risk controls will accompany broader market access to protect customers.

Kraken snaps up Small Exchange for $100M to boost derivatives

Kraken announced a $100 million acquisition of Small Exchange, a U.S.-regulated micro futures and options platform (www.reuters.com) (Reuters). This deal will expand Kraken’s suite to include retail-friendly futures on equities and cryptocurrencies. The purchase is part of a broader trend of crypto firms entering regulated derivatives markets: for example, Coinbase’s recent buyout of Deribit (for $2.9B in May) pursued a similar goal. By acquiring Small Exchange, Kraken can offer U.S. customers new derivative products while leveraging Small Exchange’s cleared trading infrastructure.

  • Rapidly broadens Kraken’s product lineup, attracting sophisticated traders seeking regulated crypto futures and options.
  • Blurs the line between crypto exchanges and traditional futures brokers, potentially drawing more institutional and retail investors into crypto derivatives.
  • Demonstrates how acquisitions can help crypto firms quickly meet regulatory requirements and expand into new markets.

Note: Cryptocurrency markets are highly volatile and unpredictable. This roundup is for informational purposes only and is not investment advice. Always do your own research (DYOR) before making financial decisions in the crypto space.

Bottom Line

The stories highlighted today show a complex crypto landscape: nation-state adversaries targeting blockchain in new ways, major exchanges diversifying services through M&A, mainstream finance flirting with crypto trading, and crypto ventures raising large public funding. Each development can sway markets on a moment’s notice. Overall, crypto remains a high-risk, high-reward arena. Investors and developers alike should stay informed of these evolving trends while proceeding with caution.