Indian crypto exchange WazirX will reopen on October 24, 2025, following Singapore High Court approval of its debt restructuring plan. The platform will offer zero trading fees and distribute recovery tokens to creditors within 10 business days, over a year after a $230 million hack in July 2024.

Hyperliquid's HYPE token rose 7.25% to $37.24 over 24 hours while Bitcoin fell 2.07% for the week to $108,848.27. Nasdaq-listed Sonnet BioTherapeutics completed an $888 million reverse merger with Rorschach I LLC on October 22, creating Hyperliquid Strategies Inc. The new entity holds approximately $583 million in HYPE tokens and plans to raise $1 billion through a 160-million-share offering to fund additional token acquisitions.

Bitcoin trades around $107,600, reflecting a 0.7% decline over 24 hours and a 4.8% drop over the past week, data show. The cryptocurrency has struggled to regain momentum after briefly surpassing $112,000. Analysts remain divided on whether Bitcoin will rebound or face deeper correction, with on-chain metrics presenting mixed signals.

Federal Reserve Governor Christopher Waller directed staff to explore granting stablecoin firms limited access to Fed payment systems through restricted master accounts. The proposed framework would enable direct settlement on central bank infrastructure without traditional banking intermediaries. Speaking at the Fed's inaugural payment innovation conference, Waller acknowledged that distributed ledgers and crypto-assets have become integral to mainstream financial infrastructure.

Coinbase launched Payments MCP on Wednesday, enabling AI models including Claude and Gemini to execute wallet operations, fiat conversions, and stablecoin transfers through natural language commands. The company also introduced its Coinbase One Card in the United States, offering bitcoin cashback rewards of up to 4% for subscribers.

Hyperliquid Strategies filed an S-1 registration statement with the SEC on Wednesday to raise up to $1 billion through a 160 million share offering. The company, formed from the merger of Nasdaq-listed Sonnet BioTherapeutics and Rorschach I LLC, plans to use proceeds for additional HYPE token purchases and corporate expenses. Upon completion, the entity will hold 12.6 million HYPE tokens valued at approximately $470 million, positioning it as the largest corporate holder of the token.

Bitcoin is trading around $108,164, up slightly from Monday but down 2% for the week, while Ether holds near $3,815. Traders are focused on Friday's Consumer Price Index report, the only major US economic release unaffected by the government shutdown. The CPI data will serve as a key reference point for monetary policy expectations.

Hyperliquid Strategies filed an S-1 registration with the U.S. Securities and Exchange Commission on Wednesday to raise up to $1 billion through a public stock offering. The digital asset treasury company plans to use proceeds to acquire HYPE tokens and expand its holdings in the Hyperliquid ecosystem. Chardan Capital Markets will advise on the transaction.