The US Treasury Department Meets with Three Crypto Companies to Discuss Bitcoin Reserve Custody Solution

SkyAI, formerly Sharps Technology, has recently undergone a radical strategic shift. The company has liquidated all its Solana (SOL) reserves to fund its stock and warrant repurchase program, dropping from being the fifth-largest Solana treasury holder to zero SOL holdings. According to a Monday statement, as of October 16, SkyAI held roughly $223.8 million in cash and has "completed the sale of all SOL". Under the repurchase plan, SkyAI proposed to buy back 95% of its outstanding shares at $3 per share or per warrant. If fully subscribed, the company would retain approximately $22.5 million before related expenses. Additionally, since it no longer holds SOL, SkyAI has scrapped the original repurchase condition requiring SOL’s price to stay above $100. The liquidation was swift and abrupt: as recently as September 14, SkyAI reaffirmed its Solana treasury strategy, claiming to hold over 2 million SOL. But an October 11 repurchase announcement disclosed it had sold ~1 million SOL, and subsequent SEC filings showed its remaining balance was only around 600,000 SOL. This rapid sell-off has drawn strong pushback from Bastion Trading, a major shareholder holding nearly 10% of SkyAI’s shares. Bastion has called for an independent review and explicitly said it will not participate in the repurchase under current terms, demanding the repurchase price be raised to $3.5 per share, restrictions on insiders, and exclusion of strategic advisors’ warrants from the repurchase. Despite liquidating its crypto assets, SkyAI still describes its business as "building a financial platform combining Solana-based stablecoin tracks with AI". However, Monday’s announcement did not clarify if the company plans to rebuild its SOL treasury, nor provide updates on the platform. SkyAI only stated it intends to maintain its Nasdaq listing status after the repurchase is completed. As of the latest trading day, SkyAI (SKYA) shares rose 4.5% to $2.77, with a year-to-date gain of 35%.

HIP-3 market deployer entropy spent 574.98 HYPE to acquire the code MOONSHOT (Moon Dark Side), with its perpetual contract expected to launch soon.

According to a report by The Block, AnchorWatch Trust Company officially launched operations this Monday, becoming a qualified Bitcoin custodian with a Nevada charter. The firm disclosed to media that the Nevada Financial Institutions Division has formally authorized it to offer custodial services. Its target clientele primarily includes trustees, listed companies, trust entities, and high-net-worth individuals requiring qualified Bitcoin custodial services. On the fee structure front, AnchorWatch employs a fixed dollar rate based on vault size, rather than a percentage of assets under custody, with a monthly custodial fee capped at $10,000. This means once a client’s monthly fee reaches this cap, additional Bitcoin purchases or gains from existing holdings will not incur extra custodial costs. Regarding key management and custody architecture, AnchorWatch provides two distinct options for institutional clients. In its flagship model, AnchorWatch Trust Company holds the core keys necessary for qualified custody, while permitting clients, trustees, or executives to hold an additional key. Under the alternative distributed custody model, key control is decentralized across multiple parties, managed jointly by AnchorWatch, U.S.-based BitGo, and Isle of Man-based CoinCorner, further mitigating the risk of single points of failure.

According to CoinDesk, crypto infrastructure firm Zerohash launched its AUTH service at the Money20/20 conference, allowing users to transfer crypto assets between linked accounts without copying wallet addresses or selecting blockchain networks. The service supports on-chain securities including cryptocurrencies, stablecoins, and tokenized equities, and can connect to exchange accounts as well as self-custody wallets. Currently, Coinbase, Robinhood, and Gemini have integrated the service, while Kraken is in the testing phase. AUTH also supports over 600 wallets, including MetaMask, Phantom, and other popular options. Users only need to select an account or wallet in an AUTH-integrated application, log in, and approve the transfer; routing and settlement are handled by AUTH.

Global money transfer network Thunes and Coinbase announced a strategic partnership aimed at integrating fiat and digital asset ecosystems to build a unified global payment infrastructure and accelerate the global adoption of stablecoins. Under the agreement, the two parties will leverage complementary strengths: Coinbase will empower Thunes’ infrastructure via its stablecoin solutions, helping Thunes embed digital assets more deeply into its global network; meanwhile, Thunes will integrate its global direct network into the Coinbase platform, providing access to local clearing systems and delivering real-time “last-mile” services to billions of mobile wallets and bank accounts worldwide. This will enable Coinbase customers to send funds to more countries and currencies, covering use cases including corporate payments, gig worker compensation, and cross-border remittances.

According to data from BIT (bit.com), Bitcoin treasury stock Strive (ASST) rose 8.41% intraday, currently trading at $26. Official data shows Strive has added a total of 10,463 BTC over the past four weeks, with details as follows: - September 21–25: Bought 1,107 BTC at an average price of ~$85,396 - September 28–October 2: Bought 2,000 BTC at an average price of ~$84,422 - October 5–9: Bought 3,311 BTC at an average price of ~$84,500 - October 12–16: Bought 4,045 BTC at an average price of ~$82,803 During the same period, Strategy (formerly MicroStrategy, ticker MSTR) – the largest crypto and Bitcoin treasury company – only accumulated around 2,516 BTC. Notably, Strive’s buying pace has surged from over 1,000 BTC in late September to more than 4,000 BTC in mid-October, with its purchases in the last two weeks significantly exceeding some analysts’ quarterly expectations. As of October 16, its total holdings stand at 36,818 BTC.