Crypto traders seek shelter in bitcoin as altcoins slide and ETF flows wobble

Oct 16, 2026, 6:41 a.m. EDT4 min readCelestia leads gains (CoinDesk data)SummaryBitcoin was little changed since midnight UTC near $82,100 after bouncing from a dip to about $81,600 at around 03:30 UTC. Celestia jumped 16%, injective rose 7.7% and layerzero added 7.3%, leaving more than two-thirds of CoinDesk 100 members higher and the CoinDesk 5 flat. Fed Chair Kevin Warsh declined to signal what the central bank will do later this month, and the odds of an October interest-rate increase fell to about 15% from almost 30%. Bitcoin BTC$81,390.73 was little changed since midnight UTC, trading around $82,100 after bouncing from a dip to about $81,600 at around 03:30 UTC. It’s comfortably above Thursday’s brief break below $80,000, its first in a month. Altcoins edged ahead, with ether ETH$2,381.18 adding 0.5% near $2,450 and the CoinDesk 80 (CD80) gaining 0.46%, while the bitcoin-heavy CoinDesk 5 (CD5) held steady. Celestia (TIA) jumped 16%, injective INJ$8.4909 rose 7.7% and layerzero ZRO$1.8988 added 7.3%, leaving four in every five CoinDesk 100 Index (CD100) members higher and lifting CoinMarketCap’s Altcoin Season index to 60 from 50 a day earlier.

SummaryIreland’s central bank fined Coinbase Ireland 3.25 million euros ($3.6 million) for alleged failures in safeguarding customer funds and overseeing outsourced services. The regulator said Coinbase Ireland relied excessively on its U. S.-based parent and lacked adequate systems and controls, while Coinbase disclosed that coding errors left a safeguarding account underfunded by an average of 0.54% in 2023 and the first half of 2024. Coinbase said no customers lost money or were unable to access their funds. The penalty follows a 21.4 million-euro Irish fine imposed on Coinbase Europe in 2025 for anti-money laundering failures. Coinbase Ireland was hit with a 3.25 million-euro ($3.6 million) fine from the country’s central bank over alleged breaches of its safeguarding and outsourcing obligations. The Irish division of cryptocurrency exchange Coinbase Global COIN$170.10 failed to establish an adequate outsourcing governance framework, the Central Bank of Ireland (CBI) said on Thursday. Safeguarding and outsourcing requirements underpin the protection of customer funds.

Open this photo in gallery:Attendees walk past a Meta logo during the Meta Connect conference in Menlo Park, Calif., last month. The company recently revised its terms of service. Jeff Chiu/The Associated PressCanadian news companies say they’re worried about changes to Meta’s META-Q terms of service and want the company to clarify how they will be affected. Meta’s changes to its terms of service, first reported by Nieman Lab, led some to suggest the terms could allow scraping of websites associated with a business account for AI training purposes. Meta has now revised those terms but the anxiety has not abated. European and British publishers are asking governments and regulators to step in. Publishers’ association News Media Canada said in a statement that “like publisher associations everywhere, we’re very concerned and are seeking clarity.”The fact Meta blocked news content in Canada following the passage of the Online News Act in 2023 is creating additional uncertainty over how Canadian outlets could be affected by the new terms.

Investors are spooked by Tesla’s cut to its near-term spending target and Lam Research’s weaker-than-expected forecast,

Investors have been steadily pouring money into the Invesco S&P 500 Quality ETF this year.

Updated Oct 22, 2026, 11:12 a.m. EDTPublished Oct 22, 2026, 10:58 a.m. EDT6 min readSummaryHappy Thursday, advisors! In today’s newsletter, Prashant Kher of EY-Parthenon on what new survey data shows about where stablecoins are gaining ground, and what will decide which payment rails scaleThen, in “Ask an Expert,” Sam Boboev of Fintech WrapUp on whether euro stablecoins can challenge the dollar’s lead, and who is best placed to win on distribution. Happy reading.- Sarah MortonStablecoins are going mainstreamA year ago, the stablecoin debate centered on whether regulatory clarity and a compelling combination of speed, cost and liquidity benefits would drive meaningful adoption. The evidence now points to a market moving decisively from experimentation toward implementation. EY-Parthenon’s 2026 Blockchain Payments Survey of 521 corporate and financial institution decision-makers found that 18% of corporates have used stablecoins in production, double the share reported in our 2025 survey. Tokenized deposits are close behind, with 15% of corporates reporting adoption. Financial institutions are also making firm commitments.