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NFL
NFL Week 8
Raiders wide receiver Jakobi Meyers is a potential trade target before the Nov. 4 deadline. Steph Chambers / Getty Images
It’s Week 8 in the NFL and the next big event on the league calendar — the trade deadline — is just around the corner on Nov. 4.
This is the second year for an early November deadline, to give teams one additional week to determine whether they might be playoff contenders before a potential roster shake-up. Nineteen players changed teams ahead of last year’s deadline, and the market has already been active in 2025. The biggest move came early, when the Dallas Cowboys traded star pass rusher Micah Parsons to the Green Bay Packers just ahead of Week 1.
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So who else might be buyers or sellers at the deadline? And which teams should probably just stand pat? The Athletic’s NFL writers weigh in on all 32 teams.
The Cardinals are in a tailspin, losers of five in a row. At 2-5, they are tied with the Giants for the second-worst record among NFC teams, behind the one-win Saints. They’ve had a chance to win all seven games, but that’s false hope. The organization really has one decision, and it involves Kyler Murray. With the quarterback sidelined the past two games with a foot injury, Jacoby Brissett has started and the offense has looked better than it has all season. Fans want Brissett to keep the job. That Arizona lost both games with Brissett shows how much trust fans have lost in Murray, who is under contract through 2028. Any decision on roster improvement should be put on hold until the organization decides what it wants to do with Murray. — Doug Haller
The Falcons could have convinced themselves to be buyers if they had won Sunday night in San Francisco, and they could really use wide receiver help, considering Darnell Mooney’s injury-hampered season and Tuesday’s release of Ray-Ray McCloud. However, this team is too inconsistent to give away any more future assets on what at this point is a blind hope that it will figure things out. Remember, the Falcons already are without their 2026 first-round pick because of the James Pearce Jr. trade. — Josh Kendall
Despite being 1-5, the Ravens insist they can get back in the playoff mix, and general manager Eric DeCosta is typically aggressive when it comes to making deals. He already shipped out edge rusher Odafe Oweh to the Chargers for safety Alohi Gilman and a 2026 draft pick. That deal created $7 million in salary-cap space, which will allow DeCosta to make other moves. If the Ravens lose either of the next two games, they could become sellers real quick. For now, though, they’re in the edge rusher and interior defensive lineman market and they would probably be intrigued by a quality interior offensive lineman, too. — Jeff Zrebiec
You hear about quarterbacks throwing a receiver open. Saints quarterback Spencer Rattler on Sunday might’ve thrown Chris Olave onto another roster. The Bills gladly would find a locker stall for him. Raiders receiver Jakobi Meyers would be another popular addition. General manager Brandon Beane is a wheeler-dealer, acquiring five-time Pro Bowl receiver Amari Cooper last year under similar pressure to provide Josh Allen a difference-making boundary target. Separation abilities have returned as a substantial concern. Buffalo also needs secondary help, most glaringly at safety, where Taylor Rapp and Cole Bishop have disappointed in multiple ways. This year, however, Beane is backed up hard against the salary cap. Buffalo is about $2.8 million below, with only Miami’s situation tighter. — Tim Graham
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The Panthers are riding the high of a three-game winning streak. But general manager Dan Morgan isn’t going to trade away meaningful draft capital for a team that is not a Super Bowl contender. After starting the season with seven games against teams that failed to make the playoffs last season, the Panthers know their schedule is about to get a lot more challenging — starting this week against Buffalo. The Panthers could use another edge rusher after Pat Jones underwent season-ending back surgery. And a veteran such as Bradley Chubb could make sense, as long as Morgan is only parting with a Day 3 pick. — Joseph Person
A four-game winning streak has become intoxicating, awakening Chicago’s imagination for what might be possible. Even in a loaded NFC North, the Bears are showing potential to hang around. That should give general manager Ryan Poles the opportunity to at least window shop, to browse trade street window fronts for sales that offer possible help for the backfield or defensive line. But 2025, the first season on Ben Johnson’s watch, was never the year to strike, more so a time to create direction toward a sustained run of success. The Bears should value their current draft capital above all else, retain long-term focus and continue to build a contender that can last. — Dan Wiederer
The Bengals made their move. In acquiring Joe Flacco, they pumped new life into the season and might be good enough to hang around until Joe Burrow (potentially) returns in late December. They aren’t good enough to warrant giving up any more assets to hang around. The defense is not one player away. The only way the defense improves is development from the young players already in significant roles. There will be a groundswell to trade Trey Hendrickson from the outside. It won’t happen. They never trade away a player who can help them win that season for future assets unless that player intentionally napalms his way out of town (Carson Palmer, Carlos Dunlap), and that won’t happen here. — Paul Dehner Jr.
Much to Mike Tomlin’s chagrin, the Browns might not even be done selling within the AFC North. This is not to insinuate that a full fire sale is coming or that the Browns will aggressively try to shop their best players. But it’s long been clear that the focus in Cleveland is on the future, and with so many players in the final year of their current contracts, the Browns will listen when the phone rings. Most likely to go are defensive end Alex Wright, tight end David Njoku and running back Jerome Ford (for pennies), but the Browns also would likely at least entertain potential trades involving their veteran interior offensive linemen. Teams looking for pass-rush help should check on Wright, Joe Tryon-Shoyinka and Cameron Thomas. Myles Garrett remains close to untouchable unless a team offers three first-round picks (at least), and that’s just probably not going to happen. — Zac Jackson
Dak Prescott is playing at an MVP level with an elite group of weapons around him in CeeDee Lamb, George Pickens, Jake Ferguson, Javonte Williams and KaVontae Turpin. If they all stay healthy, there’s potential to be the NFL’s best offense. The defense, on the other hand, is arguably the league’s worst. And while linebacker DeMarvion Overshown will return in the next few weeks, that’s not enough. More help is needed on that side of the ball at all three levels. At least one defensive addition needs to be made. Trading Micah Parsons gave Dallas plenty of draft picks and salary-cap space. The Cowboys have everything needed to make a notable move … or two. — Jon Machota
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Denver has seen two of its guards, including starter Ben Powers, land on injured reserve in the past two weeks. Alex Palczewski is holding down the left guard spot for now, but the depth is getting pretty thin on the interior behind him. The Broncos may not be willing to pay the price necessary to convince the Browns to part with Joel Bitonio, but they should be diligent in searching for offensive line help. The Broncos should also monitor the wide receiver market. Sean Payton likes the group of young targets behind Courtland Sutton — Marvin Mims Jr., Troy Franklin, rookie Pat Bryant — and he has typically scoffed at the notion of needing a defined No. 2 receiver. With as inefficient as Denver’s offense has been in stretches lately, though, the Broncos should at least explore the possibility of adding another playmaker. — Nick Kosmider
The Lions are 5-2 heading into their Week 8 bye, and there’s a lot to like about where they’re at. They rank second in the NFL in point differential and have proven capable of overcoming the loss of former coordinators Ben Johnson and Aaron Glenn. That said, the Lions should be looking to acquire depth at the deadline. Their secondary depth has been hit hard. They’ve played the majority of the season without oft-injured starting edge rusher Marcus Davenport. And while the Lions have gotten by with the pieces in place, some insurance depth could help them down the road and avoid a repeat of last year, when they went 15-2 in the regular season but lost their only playoff game. — Colton Pouncy
The Packers already made their splash acquisition before the season started, trading for Micah Parsons. His three sacks in a Week 7 win over the Cardinals were a career high in a single game. The Packers dealt to the Cowboys their first-round pick in the next two drafts, along with defensive tackle Kenny Clark, so I’m not sure how many more moves general manager Brian Gutekunst can make. I don’t expect any of significance since they’ll fill holes on the defensive line and at wide receiver through key players returning from injuries in the near future. — Matt Schneidman
The Texans should be buyers. They made moves to try to fix their offensive line, but left guard certainly remains a pressing need. A quality guard could help improve a run game that ranks 16th in the league and, in the two previous seasons, was among the worst in pass protection. — Mike Jones
Colts general manager Chris Ballard has made only one in-season trade through the first eight years of his tenure, when running back Nyheim Hines requested one during a tumultuous 2022 campaign. It may be time for Ballard to break his typically conservative mold in Year 9, especially considering the Colts’ potent offense — the kind that can take them to the Super Bowl. Defensively, however, Indianapolis still needs pass rush and cornerback help if it truly wants to maximize its shot at being a contender. So, I’d say it’s time to go shopping. — James Boyd
The Jaguars should stand pat unless they see opportunities for low-cost culture moves that fit the new regime. They already gave up a couple of first-round picks to move up in the draft for Travis Hunter, so the Jaguars shouldn’t get too reckless with their future assets. Plus, they have to be realistic about their start. Yes, they’re an improved group, but they’re also flawed and shouldn’t sacrifice the rebuild to chase a playoff win or two this year. I wonder if someone like Giants receiver Wan’Dale Robinson, who was with Liam Coen at Kentucky, could be a budget-friendly addition. — Jeff Howe
Chiefs general manager Brett Veach has never hesitated to make trade-deadline moves to improve his contending teams, with the most recent example coming last season when he acquired veteran DeAndre Hopkins to help a depleted receivers room. Though the Chiefs are one of the few super-healthy teams in the NFL, a defensive-line upgrade would make sense, with our Dianna Russini reporting last week that’s the position the Chiefs have been targeting. — Jesse Newell
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The Raiders are 2-5. They aren’t quite out of the playoff picture, but they look lifeless. The offense has been a major disappointment. Their best player, tight end Brock Bowers, has missed three games and has been hobbled since Week 1, but that shouldn’t be an excuse for how ineffective they’ve been. They have young receivers to develop, so Jakobi Meyers should be on the trade block, and he can help a playoff team. The Raiders reportedly will hang on to defensive end Maxx Crosby because of everything he means to them on and off the field, but if they get a godfather offer, they should consider it. This franchise looks like one that is years away from competing. — Ted Nguyen
The Chargers already made one trade earlier this month, sending safety Alohi Gilman and a 2026 fifth-round pick to the Ravens for edge rusher Odafe Oweh and a 2027 seventh-round pick. They bolstered their edge room, to a degree. They lost a valuable leader and communicator on the back end. The Chargers still have needs they should be looking to address, considering their injury situation. They could use offensive tackle help, though functional pieces at that position are hard to find on the trade market. The more likely position to target is running back, with Omarion Hampton (ankle) and Najee Harris (Achilles) both on injured reserve. Harris is done for the season. Hampton is expected to return at some point. The Oweh trade ate up a little more than $7 million of the Chargers’ remaining cap space. As a result, their options will be limited unless they restructure some existing contracts to create additional space. — Daniel Popper
The Rams came into the season expecting to be contenders and are 5-2. Matthew Stafford has thrown 17 touchdown passes to just two interceptions, and the last time he was playing at this level, in 2021, the Rams famously went all-in with in-season trades for Von Miller and Odell Beckham Jr. I don’t expect the same push this year, partly because the Rams will want to keep their two first-round picks to chase a quarterback of the future next spring. But I think they’ll realize the limited window they have with Stafford and could look for help at outside cornerback or on special teams. — Nate Atkins
Mike McDaniel hasn’t taken too kindly to all of the trade speculation around his team, calling the rumors “baseless.” But whether the coach-on-the-hot-seat wants to admit it or not, the Dolphins should be sellers. This team isn’t going anywhere as currently constructed, and securing future draft capital for players on expiring deals (Jaelan Phillips and Rasul Douglas, among others) feels like a necessary place to start. Moving on from some high-priced veterans (Bradley Chubb, Jaylen Waddle) should be on the table, too, if the price is right. McDaniel is coaching for his job right now, so he won’t like it, but that shouldn’t matter. The Dolphins are likely staring at an offseason teardown; might as well start now. — Jim Ayello
You do not spend $344 million in cash on a roster — the most in the NFL for 2025 — and punt on a season. Especially when you have the two leading decision-makers, coach Kevin O’Connell and general manager Kwesi Adofo-Mensah, in their fourth seasons despite not having won a playoff game. The Vikings are in a precarious position. They rolled the dice by pairing an older roster with a young quarterback in J.J. McCarthy who had never played an NFL game. It’s hard to imagine the Vikings pushing more chips into this season, barring a serious injury to a key player. It’s also difficult to think the Vikings could move off an aging player they hoped would contribute. It feels like Minnesota should play this out. — Alec Lewis
This would’ve been a shock to write two months ago, but, frankly, it’s not even a question. The Patriots are 5-2, atop the AFC East, and get to take advantage of the NFL’s easiest schedule. Drake Maye has developed better than even the most optimistic among us thought, and Mike Vrabel’s team has won four straight. Expect them to search for help at edge rusher as the deadline nears. — Chad Graff
The expectations surrounding this Saints team started low once Kellen Moore took over as head coach. And they remain just as low following a 1-6 record to open Moore’s tenure. It’s almost a given that teams will be calling general manager Mickey Loomis, with capable veteran players such as running back Alvin Kamara, linebacker Demario Davis and defensive end Cam Jordan on New Orleans’ roster. Given the Saints’ loyalty to players in the past, though, it’s possible none of them are moved if they don’t want to be moved. Still, making any trade that could help the Saints beyond this year would be wise since this season seems lost already. — Larry Holder
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The Giants went into a Week 7 matchup with the Broncos with plenty of buzz about trading for a top receiver. A win in Denver would’ve only increased that chatter. But the Giants dropped to 2-5 after blowing a 19-point lead in the fourth quarter in a wild 33-32 loss. Offensively, it wasn’t all bad, and rookie Jaxson Dart found his tight ends for plenty of help. We don’t know yet if the Giants will watch the trade deadline craze from afar or if the loss will prompt selling considerations, but they were at least competitive until the end. — Charlotte Carroll
This one isn’t that hard to figure out. The Jets are 0-7, so which players are they willing to trade? The obvious candidates are the players not under contract beyond this season, including running back Breece Hall, linebacker Quincy Williams, safety Tony Adams and guard John Simpson. Same for cornerback Michael Carter II, who will likely be a cap cut in the offseason anyway. The big question is whether they’ll actually be open to trading their top players with contracts beyond this season who might net more on the trade market, like defensive tackle Quinnen Williams, defensive end Jermaine Johnson and defensive end Will McDonald. — Zack Rosenblatt
The Eagles are Super Bowl contenders with perhaps the NFL’s most aggressive general manager. Those are perfect ingredients for a deadline buyer. The Eagles will try to upgrade at edge rusher and/or cornerback. There are internal reinforcements upcoming in both of those areas — Nolan Smith and Jakorian Bennett will return from injured reserve next month — but these are also spots at which the Eagles could use help. Edge rusher should be a priority over cornerback. Howie Roseman has already made six trades since the start of training camp, so it’s not as if he has been sitting on his hands. He still has 10 projected draft picks in 2026, giving him flexibility. Pay attention to Dolphins edge rushers Bradley Chubb and Jaelan Phillips, both of whom have experience under defensive coordinator Vic Fangio. — Zach Berman
Steelers general manager Omar Khan has earned a reputation for wheeling and dealing, especially after he pulled off a pair of blockbuster trades this offseason to acquire DK Metcalf, Jalen Ramsey and Jonnu Smith. Given the strong 4-2 start to the season, Aaron Rodgers’ steady play and their early lead in the AFC North, the Steelers will be making calls in search of a wide receiver. Calvin Austin III has been a reliable WR2, but Roman Wilson is off to a slow start in his second season and the Steelers could certainly upgrade over role players like Scotty Miller and Ben Skowronek. There’s a feeling inside the Steelers building that they want to do everything in their power to give Rodgers a legitimate chance to make a run this year. It would almost be surprising if they don’t find a trade partner in some form or fashion. — Mike DeFabo
I know, I know … You want to help the players who are overachieving and winning games despite a ton of injuries. Get them some help. A pass rusher, a cornerback, maybe a guard. But what if the 49ers just double down with the players they have? They’re obviously close-knit, fight hard and believe in the coaching staff. Why mess with the chemistry that’s gotten them to 5-2? The bigger — i.e., real — reason not to make a trade is that it’s very, very hard to envision the scrappy Niners making the Super Bowl without Nick Bosa and Fred Warner (and who knows when Brandon Aiyuk is back), so hold on to all of next year’s draft picks and make your big push then. — Vic Tafur
The Seahawks are 5-2 with the 11th-ranked offense and the fourth-ranked defense by points per drive. They’ve done this while dealing with a rotation at inside linebacker and an extended game of musical chairs in the secondary because of injuries. In theory, Seattle’s defense will be at full strength after its Week 8 bye with the return of Derick Hall, Devon Witherspoon and Julian Love. But banking on a clean injury report the rest of the way seems foolishly optimistic. Seattle needs depth at multiple spots and a potential new starting guard, and it has the money and assets to acquire both. There are even some names listed among the “seller” teams in this article that may be of interest to Seattle. — Michael-Shawn Dugar
Barring the unlikely availability of a pass rusher — interior or edge — who could impact the defense without requiring too much compensation, the Bucs should stand pat. There are three reasons. One, they have shown that the players already on the team can compete with the best in the NFC. Yes, they lost to the Lions, but they have wins against the Seahawks and 49ers. Two, they await reinforcements as Chris Godwin, Luke Goedeke, Jalen McMillan, Bucky Irving and maybe even Mike Evans are expected back from injuries at some point. And three, draft picks are worth more to the Bucs than other teams because general manager Jason Licht uses them so well. This team probably would be better served using picks in the draft than in trades. — Dan Pompei
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Big-time sellers. The problem for a team this bad is that it doesn’t have many quality veterans to offer, and for now at least, the Titans are making it known they don’t intend to trade Pro Bowl defensive tackle Jeffery Simmons. It makes sense to try to retain some talent, in case anyone can figure out how to get this franchise out of the gutter any time soon. But if someone offers a first-round pick for Simmons, the Titans should jump all over it. Cornerback L’Jarius Sneed is another possible option, but he’s been bad and just got hurt again. Calvin Ridley? He hasn’t produced much. He got hurt. Also, if you move him, how does that help in the primary goal this season of developing rookie quarterback Cam Ward? — Joe Rexrode
The Commanders made a splash by trading for cornerback Marshon Lattimore at the deadline last year. But they were 7-2 at the time and suddenly one of the hottest teams in the league. Their plan to rebuild was expedited, and they believed they had a chance to contend with some help on the back end. Much has changed since then. Washington is 3-4 this season with two prime-time games — a Monday night road game in Kansas City, then a Sunday night meeting with the Seahawks at home — before the trade deadline. The Commanders’ roster is in shambles because of injuries, and their defense is spiraling. Giving up more draft picks when they’re deficient in many areas wouldn’t make sense. And the players they might be willing to part with may not generate interest elsewhere. — Nicki Jhabvala
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As crypto-centric firms file for array of products, the world’s largest asset manager seeks to grow AUM in existing funds
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This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
New US crypto ETF launches remain on pause given the ongoing government shutdown. 
This just means there’s more time to make sense of what the upcoming product wave will look like — and how the world’s largest asset manager will (or won’t) participate.
Being on the Digital Asset Summit stage in London last week with BlackRock’s Matt Kunke and 21Shares’ Mandy Chiu gave me a unique chance to explore the different product development approaches of a TradFi incumbent and a crypto-centric firm. 
With the SEC offering generic listing standards around what crypto assets would be allowed in the ETP wrapper, Kunke noted: “There will probably be an asset manager that will launch everything that you can imagine that falls within this scope.”
It’ll be a “Cambrian explosion” of sorts, he added, alluding to the period of rapid animal diversification 540 million years ago (Google’s AI overview helped me with that).

A provider of 50 or so ETPs in Europe already, 21Shares (set to be acquired by FalconX) is among those that will indeed look to offer many similar access points for US investors. You’ll see the firm’s name peppered throughout this long proposals list shared by Bloomberg Intelligence analyst James Seyffart in August (and there have been plenty more filings since):
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Chiu said her team considers onchain data, tokenomics, risk and governance when choosing which crypto ETPs to file for. But there’s one thing above all.
“I would simplify it by saying there’s no difference between crypto vs. other asset classes,” she told me. “It’s about whether or not you have the investment case and are we ready to get behind it as an asset manager.”
But Kunke said BlackRock — which manages ~$13.5 trillion in assets — is not ready to commit to launching more spot crypto ETFs after its successful BTC and ETH product launches last year. 

“It’s a client demand question,” he said, noting that his meetings with pro investors suggest demand is “overwhelmingly skewed toward bitcoin.”
Passage of the GENIUS Act and the narrative of ETH being “the institutional smart contract chain” has helped awareness of the second-largest crypto asset in recent months. But those asking about solana and XRP represent only “a very small fraction” of the investors/institutions BlackRock is speaking to, Kunke added.  
“Given the relative size of [BTC and ETH] markets compared to some of the smaller ones, I think commercially we’re probably better off prioritizing and elevating those two main products from an education perspective and a marketing perspective,” the BlackRock exec said.
Chiu pointed out an interesting stat. AUM in US crypto ETFs is roughly 6% of the total crypto market cap. Meanwhile, assets in US equity ETFs are about 20% of the US equity market size.

“I’m not saying we’ll reach 20% anytime soon,” she said. “But it’s definitely moving toward that direction and there’re still huge pockets of investors who haven’t gotten in yet.”
BlackRock’s bitcoin ETF (IBIT) and ether ETF (ETHA) tout AUM totals of ~$90 billion and ~$16 billion, respectively. IBIT (with weekly flows shown below) is the fastest-growing ETF in history and recently cracked the top 20 in AUM.
So back to BlackRock’s decision to hold off on more crypto ETF filings, Kunke said: “I don’t think we’re at saturation. These are scarce assets with a lot of capital that still have barriers inhibiting that.” 
The barriers are eroding though. An example, ironically, came the day of this panel discussion. On Oct. 15, Morgan Stanley started allowing its advisers to pitch crypto funds to any client (previously they could only do that for those with aggressive risk tolerances and $1.5 million or more in assets).
BlackRock competitor Vanguard still doesn’t allow clients to trade crypto ETFs on its platform. Kunke didn’t want to comment much on that, but did note Vanguard’s stance “wasn’t terribly surprising” given the index fund giant’s focus on stocks and bonds.     
When will more wirehouses follow Morgan Stanley in lifting other crypto investing restrictions?
“I would say months, not years,” Kunke said. “Conversations are accelerating.” 
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Meteora’s TGE will take place on Thursday, October 23. At launch, 48% of MET’s supply will be circulating, a relatively high float compared to other notable token launches on Solana. Meteora has become a key player in Solana's DEX landscape, strengthening its distribution via Jupiter and its partnership with select launchpad partners like Believe, positioning as the go-to venue for high profile launches like TRUMP and WLFI. In our view, a P/S between 6x and 10x is most likely for MET at launch based on how RAY and ORCA have been historically priced by the market. As such, we could reasonably expect MET to trade between $450M and $1.1B after TGE (circulating market cap).
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FalconX’s takeover of 21Shares adds to a surge of crypto consolidation as asset managers and trading firms race to meet institutional demand for ETFs.
FalconX is expanding its reach into fund management. The crypto-trading firm said it will acquire 21Shares, one of the largest issuers of exchange-traded funds tied to digital assets. The move comes as competition intensifies to capture institutional money flowing into crypto products.

The combined company plans to develop new crypto funds focused on derivatives and structured products. Executives said the deal was financed through a mix of cash and equity, though financial terms were not disclosed.
Moreover, FalconX has grown quickly since its founding in 2018 by Raghu Yarlagadda. The company has processed more than $2 trillion in crypto trades for over 2,000 institutional clients. It raised $150 million in venture funding in 2022, valuing the firm at $8 billion. Yarlagadda said the company is now considering an initial public offering as its next step.
In addition, 21Shares brings significant scale and credibility to the deal. The firm manages more than $11 billion across 55 listed crypto exchange-traded products. It is best known for launching one of the first U.S. spot Bitcoin ETFs with Cathie Wood’s ARK Investment Management in 2024.
The surge in spot Bitcoin ETFs led by BlackRock (IBIT) and Fidelity has sparked a rush among asset managers to launch similar products. Many are now expanding into funds that track smaller, higher-risk cryptocurrencies as regulatory clarity improves.
“Bitcoin flows are now happening through what we call traditional wrappers, and that’s a fundamental shift in market structure,” Yarlagadda said. He added that merging FalconX’s trading infrastructure with 21Shares’ fund expertise will help bring new products to market faster.
Meanwhile, regulators are opening the door for more innovation. In September, the Securities and Exchange Commission approved new listing standards that simplify the launch process for crypto ETFs. The updated rules shorten approval timelines and reduce administrative hurdles, creating room for faster product rollouts.
President Trump’s recent support for digital assets has accelerated deal-making across the industry. Companies are moving to secure partnerships and assets ahead of what they expect will be a friendlier regulatory environment.
Last week, Ripple acquired corporate treasury software provider GTreasury for $1 billion. On Tuesday, Coinbase Global (COIN) agreed to buy Echo, a blockchain capital-raising platform, in a $375 million deal, according to The Wall Street Journal.
Together, these deals reflect a maturing industry. FalconX’s purchase of 21Shares adds to that trend, linking trading infrastructure with fund management at a time when institutional interest in crypto is surging. For investors, it could signal another step toward bringing digital assets deeper into mainstream finance.
As crypto pushes further into the mainstream, companies with exposure to the sector could see their revenues climb. Of course, it depends on the business, but for investors, now’s a smart time to keep an eye on how their favourite crypto stocks are performing. Markets shift fast—and staying ahead means staying informed. You can compare top crypto-exposed stocks side-by-side using the TipRanks Crypto Stocks Comparison tool. Click on the image below to find out more.

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XRP Price Wrestles With $2.40 as Evernorth’s $1Bn Push and David Schwartz Fuel Institutional Bullishness  99Bitcoins
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In August 2025, Valour Inc., a subsidiary of DeFi Technologies listed on Nasdaq, launched the VALOUR PI (PI) SEK ETP on the Swedish Spotlight Stock Market. The product marks one of Pi Network’s most notable steps toward entering traditional finance.
Kim H. Wong, an EECS engineer and crypto analyst, said the launch connects Pi Network’s native token with regulated markets. He described it as an important moment for linking Pi’s mobile-based ecosystem to standard financial structures.
Making Pi Accessible to Regular Investors
Wong explained that the Valour PI ETP allows ordinary investors to gain exposure to Pi through their brokerage accounts. He added that this access could help improve market confidence and reduce the barrier between digital assets and regulated trading platforms.
The product trades under ISIN CH1108681540 and carries a 1.9% management fee.
Wong said this move could mark Pi’s formal entry into regulated markets. He noted that if the ETP draws meaningful investment, it could increase demand for $PI and bring greater price stability.
“If the ETP attracts sizeable investment, this could increase demand for $PI, in turn potentially supporting token value,” Wong wrote.
Pi’s Current Market Standing
Pi (PI) is trading at $0.2026, up 0.23% in the past 24 hours. Its daily trading volume stands at $18.94 million, up 38.64% from the previous day. Despite the rise, the token remains under mild bearish pressure in the broader market.
Analysts Expect Slow but Steady Growth
Some analysts continue to express long-term confidence in Pi. Dr. Altcoin, a well-known crypto researcher, said he expects Pi to follow a long-term recovery trend similar to Bitcoin’s early growth phase.
He added that upcoming developments, such as Protocol Upgrade Version 23, could support that shift.
FAQs
The Valour PI ETP is an investment product on the Swedish stock market that lets you invest in Pi Network’s token through a regular brokerage account, bridging crypto and traditional finance.
Some analysts project slow, steady growth for Pi, comparing its potential trajectory to Bitcoin’s early years, but as with any crypto asset, this involves significant risk.
Currently, there is no clarity on the launch of Pi coin on Binance.
Select market data provided by ICE Data Services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.Copyright © 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved. SEC fillings and other documents provided by Quartr.© 2025 TradingView, Inc.

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Credit: kaboompics / Pixabay.com
Credit: kaboompics / Pixabay.com
A 67-year-old Fairfield Twp. woman was scammed out of $88,000 in a cryptocurrency scheme last December.
The Ohio Attorney General’s Bureau of Criminal Investigation (BCI) and the Butler County Prosecutor’s Office jointly investigated the scam that was reported following the Dec. 4, 2024, theft.
The Fairfield Twp. woman who was victimized reported a prompt appeared on her computer screen suggesting the device was hacked. A number was provided on the prompt and that led her to “a Microsoft technician.”
That technician was a scammer, according to BCI and the county prosecutor’s office. The woman then talked to people who posed variously as representatives of her bank and the Social Security Administration.
Investigators say these bad actors persuaded the woman to buy a new laptop and grant them access to it. She was then instructed to withdraw money from her banking accounts — $88,000 in total — and deposit it into a cryptocurrency kiosk.
It was only after she had done as the scammers asked she realized she had been defrauded and called the Fairfield Twp. Police Department. BCI’s Electronic Financial Investigations unit was called in to assist.

Butler County Assistant Prosecutor Garrett Baker said bad actors lie to victims, often telling them their bank accounts had been misused and they could be arrested as a result.
“Then the fear kicks in and people start to panic, they’re told to transfer money out of their bank account,” he said. “If anybody says you need to use a crypto ATM (they’re) a scammer.”

In this case with the Fairfield Twp. woman, she bought a new laptop and they were able to transfer funds.
“This is a scam I’m starting to see with increase frequency,” he said, advising people to “never give people remote access to your computer, certainly not someone from Microsoft and a bank would never ask for that.”
Butler County Prosecutor Mike Gmoser said while scammers use technology to steal from the elderly population, “we can use that same technology and the long arm of the law to get those stolen funds back.”
BCI and the Butler County Prosecutor’s Office were able to trace the money and placed a freeze on additional transfers to the scammer.
With the help of search warrants and a court order, $36,000 was recovered and returned to the victim.
“Technology drives innovation, but sometimes cybercriminals are behind the wheel,” said Ohio Attorney General Dave Yost. “While we can help after the fact, your best defense is to be skeptical anytime a stranger asks you to make a financial transaction.”
Credit: AP
Credit: AP
Education and prevention are the best weapons against cryptocurrency scams, according to the Ohio AG’s office.
Targets of fraud have typically been older adults who appear to be vulnerable or confused. They may be prompted to call a phone number, and then directed, as the Fairfield Twp. woman had, to withdraw a large amount of cash and deposit into a Bitcoin ATM.
There are various fake reasons used when targeting victims, including:
Consumers are encouraged to be skeptical if asked by unknown individuals to make financial transactions. Suspected scams should be reported to local law enforcement immediately.
Credit: Michael D. Pitman
Credit: Michael D. Pitman
About the Author

Michael D. Pitman has been a reporter in southwest Ohio since 1999. He's covered local governments in Warren and Butler counties, as well as state and national issues. He currently covers the cities of Fairfield and Hamilton.

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The XRP Ledger data shows a 60% increase in daily activations, along with a notable increase in new XRP accounts, that has captured market attention this week. More than 5,000 new accounts were created on Oct. 21, the most in weeks, indicating a resurgence of user interest at a time when the larger XRP market has been having trouble stabilizing.
XRP is growing on-chain
Despite the fact that price action is still muted, trading at about $2.38 following several unsuccessful attempts to break through the resistance level of $2.70, this on-chain activity may indicate underlying accumulation or an impending network event. Historically, either as early adoption stages or as speculative build-ups, comparable spikes in user creation have come before significant price movements.XRPUSDT Chart by TradingView">
But the on-chain data presents a complex picture. The volume of payments between XRP accounts and the number of successful transactions have been steadily declining since early October, despite the increase in new users. The number of transactions has decreased from almost one million to less than one million per day, and the volume of payments has decreased from more than one billion XRP to about 500 million.
RSI pushing to weak momentum
Although new users are joining the network, this divergence implies that real on-chain utility is still low. The 50-, 100- and 200-day major moving averages are all serving as resistance above the current price levels, and XRP is still in a descending channel, when looking at the market structure. The Relative Strength Index, which is currently at 38, suggests that momentum is weak and that bearish pressure may continue to prevail unless XRP makes a strong break above $2.70.
If this spike in new accounts results in active usage in the near future, especially in terms of increased transaction volume or payment throughput, there will be a new wave of growth on the market. If so, it might be an indication of increased remittance or institutional activity, which could support a recovery. However, if the increase is only speculative, XRP may experience another decline to $2.20 or even lower.
The abrupt surge in new users has temporarily raised cautious optimism, but the market is still in a wait-and-see phase in the absence of a corresponding increase in activity or price.
Select market data provided by ICE Data Services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.Copyright © 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved. SEC fillings and other documents provided by Quartr.© 2025 TradingView, Inc.

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XRP Price Analysis: Ripple Lags Market Rally but Volume Tells a Different Story  CoinDesk
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