Analysis: With the rise of Bitcoin, "speculative capital" is re-entering the market

U.S. crypto brokers are for the first time this year reporting proceeds from the sale of certain digital assets to the IRS under new rules, but in 2025, they will generally only be required to report sale proceeds, not cost basis, leaving taxpayers to calculate their actual gains and losses on their own. An August survey by Awaken Tax of 1,000 U.S. crypto investors found that 21% of respondents who had already filed taxes or requested extensions were still waiting for exchanges to provide required information, while roughly 20% said the 1099-DA forms they received had incomplete information or could not be verified for accuracy. Tax experts note that transfers across exchanges, wallets, and frequent trading further complicate cost basis tracking, and some users’ 1099-DA forms also contain discrepancies with their actual transaction records. Starting in 2026, brokers will generally be required to report cost basis for eligible digital assets, though assets transferred in from other exchanges or wallets may still fall outside this requirement.

，据 BIT（bit.com）行情数据，美股开盘，道指开涨 0.02%，标普 500 指数涨 0.07%，纳指涨 0.1%，特斯拉 (TSLA.O) 涨 2%，公司表示希望在今年年底前建立一条每周可生产超过 1000 台机器人的生产线。SK 海力士 (SKHY.O) 涨 1.4%，美光科技 (MU.O) 涨 1.05%，闪迪 (SNDK.O) 涨 1.8%。

According to HTX market data, Bitcoin has fallen below $84,000, with a 0.34% drop over the past 24 hours.

Multi-chain decentralized exchange (DEX) Jumper plans to hold its inaugural JUMP token sale via Legion, and has spun off from LI.FI’s incubated projects to operate as an independent company. Jumper currently boasts over $40 billion in cumulative trading volume, more than 100,000 monthly active users, and ranks as the largest cross-chain aggregator by cross-chain trading volume, holding a market share exceeding 15%. The protocol plans to further expand into perpetual contracts, tokenized stocks, and other real-world assets, and will launch Jumper Perps in the coming weeks. This token sale marks Jumper’s first financing round, with proceeds allocated to product development, user growth, and market expansion. Jumper noted it will not conduct concurrent equity financing; users, contributors, and investors will access the company’s value growth through JUMP tokens, which will be issued separately after the financing closes.

Morgan Stanley will serve as a strategic partner at the NEXTPredict Prediction Markets Summit, held in New York from October 22 to 23. Stephen Grambling, the bank’s head of U.S. Gaming, Lodging & Leisure Research, will lead a panel discussion on institutional capital. Pierre Lindh, co-founder of NEXTPredict, said Morgan Stanley is the first bank to publicly participate in an event in this space. Lindh noted that roughly 90% of current liquidity and trading volume in prediction markets comes from sports contracts, and the sector’s high current valuations are built on expectations of large-scale inflows of institutional capital and a shift of prediction markets from "alternative betting" to institutional tools. Morgan Stanley previously participated in Kalshi’s $1 billion funding round completed in May, and released a research report on prediction markets in April this year.

U.S. SEC filings show that Bitwise’s NEAR ETF has filed a Form 8-A registration statement, seeking to register its common beneficial certificates for trading on NYSE Arca. The documents state the ETF is sponsored by Bitwise Investment Advisers, LLC, and the corresponding S-1 document was submitted to the SEC on September 16. The Bitwise NEAR ETF is intended to provide exposure to exchange-traded products tied to NEAR-related assets. This Form 8-A was signed on September 24, on behalf of Bitwise by Chief Operating Officer Teddy Fusaro.