Overview:
XRP recovered near USD 1.40 after XRPL recorded USD 40.70 million in long liquidations across Binance, Bybit, and OKX, although Binance spot activity remained subdued.
Tether froze approximately USD 1.45 million in THORChain-linked USDT.
Standard Chartered introduced RLUSD custody for eligible institutional clients through its DIFC branch.
The crypto market saw major developments as XRP rebounded after XRPL recorded USD 40.70 million in long liquidations, while Russia’s Sberbank tested crypto operations. Meanwhile, Tether froze USD 1.45 million of THORChain’s USDT, and Standard Chartered added RLUSD to crypto custody.
XRP Rebounded as Binance spot Turnover Fell
XRP futures exposure began rebuilding by October 11 after XRPL.to recorded USD 40.70 million in long liquidations across Binance, Bybit and OKX during October 7-8 in its streamed sample.
XRP traded near USD 1.40 on October 11. Binance and Bybit each had less outstanding futures exposure measured in XRP at midnight on October 11 than at midnight on October 8, even after both books expanded over the preceding day.
Meanwhile, Binance spot trading slowed during the price rebound, leaving the recovery without clear evidence of sustained buying on that venue. XRPL.to collected USD 40.70 million of long liquidations and USD 1.72 million of short liquidations across Binance, Bybit and OKX during the two completed UTC days of October 7 and 8.
Sberbank Tests Cryptocurrency Operations
Sberbank has begun testing cryptocurrency operations in its Sberbank Online mobile app, including the ability to buy, sell, deposit and withdraw digital assets. The pilot, reported on October 8, follows the Bank of Russia’s admission of the lender as a digital depository under the country’s new digital-currency market framework two days earlier.
The move places a limited crypto test inside the digital services of Russia’s largest bank, rather than in a standalone exchange product. Sberbank is planning broader customer access from December 1, but only if the relevant regulatory framework takes effect.
Also Read: Caroline Pham Says Existing CFTC Laws Can Cover Crypto Markets
Tether Frozen THORChain’s USDT
On 9 October 2026, stablecoin issuer Tether added four THORChain vault addresses to the blacklist on its USDT token contract on the TRON network. These wallets were four of the six vaults the protocol runs on TRON.
The action froze about 1.45 million USDT held across them. USDT is the dollar-pegged stablecoin issued by Tether and the third-largest cryptocurrency by market value. THORChain is a decentralised protocol that lets users swap assets across different blockchains without a central intermediary. The frozen vaults are part of the infrastructure that settles those cross-chain trades on TRON.
Glassnode Warns Bitcoin Has Exposed Public Keys
Glassnode co-founder Rafael Schultze-Kraft estimated that 6.26 million BTC, representing 31.2% of the cryptocurrency’s supply, sits in addresses with exposed public keys.
The findings follow an urgent warning from Ethereum Foundation researcher Justin Drake, who urged the blockchain industry to prepare for a potential cryptographic breakthrough that could put existing wallets at risk.
“Today I call upon the blockchain industry to calmly begin planning for ‘bunker mode,” Drake wrote in a post on X Wednesday, recommending a controlled migration of assets to fresh addresses whose public keys remain hidden behind a hash.
Drake warned that the threat might emerge sooner than anticipated, arguing that ‘it is now reasonable to brace for the possibility that ECDSA breaks before qday, in the worst case in months, not years.’
Standard Chartered Adds RLUSD to Crypto Custody
Standard Chartered launched institutional custody services for Ripple’s RLUSD stablecoin on the XRP Ledger on October 12. It is also preparing a separate arrangement with Ripple and LMAX Group that allows clients to use the digital asset as trading collateral without moving it from the bank.
According to Standard Chartered, eligible institutional clients can now hold RLUSD through its Dubai International Financial Centre (DIFC) branch, regulated by the Dubai Financial Services Authority (DFSA).
The bank is working with Ripple and LMAX Group to introduce collateral services that would allow institutions to use RLUSD for trading while keeping the stablecoin in regulated custody.
Also Read: Bitcoin Rebounds: What Trading Data Reveals About Investor Sentiment
FAQs:
1. Why did XRP rebound after USD 40.70 million in liquidations?
XRP recovered toward USD 1.40 on October 11 after XRPL.to recorded USD 40.70 million in long liquidations during October 7-8. However, subdued Binance spot turnover raised questions about the strength of sustained buying demand.
2. Why did Tether freeze USD 1.45 million in THORChain's USDT?
Tether blacklisted four THORChain vault addresses on the TRON network on October 9, freezing approximately USD 1.45 million in USDT. The supplied report does not establish the reason for the freeze, which affected vaults used for cross-chain settlement.
3. How much Bitcoin is potentially exposed to quantum computing risks?
Glassnode co-founder Rafael Schultze-Kraft estimated that 6.26 million BTC, or 31.2% of Bitcoin's supply, sits in addresses with exposed public keys. Such exposure creates a potential future cryptographic risk, although it does not mean those bitcoins are currently compromised.
4. What cryptocurrency services is Russia's Sberbank testing?
Sberbank is testing cryptocurrency buying, selling, deposits and withdrawals through its Sberbank Online mobile application. The bank plans broader customer access from December 1, subject to the necessary regulatory framework taking effect.
5. What is Standard Chartered's new RLUSD custody service?
Standard Chartered has introduced institutional custody for Ripple's RLUSD stablecoin on the XRP Ledger through its Dubai International Financial Centre branch. The bank is also working with Ripple and LMAX Group on a proposed arrangement allowing RLUSD to serve as trading collateral while remaining in regulated custody.