October '25 industry recap 🧵 Last month reflected both optimism and caution in crypto markets. Institutional adoption and tokenisation projects kept building momentum, even as a major market correction reminded everyone that (unfortunately) leverage cuts both ways. 👇

📈 Bitcoin surged to a record high above US$ 126,000 early in the month, marking a ~34% YTD gain. But that momentum met a test: on Oct 10-11, a major liquidation wave saw ~$19 billion in leveraged positions wiped out in hours. Showing that crypto markets still need robust risk tools and liquidity buffers to stay resilient.

🏛️ On regulation & tokenisation - The Financial Conduct Authority (UK) unveiled proposals to allow asset managers to launch tokenised funds on public blockchains, a meaningful step toward TradFi on-chain. - In India, the Reserve Bank of India announced a pilot push for asset tokenisation, blending traditional and blockchain rails. - But also, the Financial Stability Board flagged “significant gaps” in global crypto regulation — showing that while innovation pushes ahead, oversight lags. Overall, regulators are beginning to align with on-chain innovation. The end goal: clearer rules, safer participation, and institutional scalability.

What this means for ecosystems like Cronos: 1. On-chain capital markets are no longer theory — they’re forming in real time. Traditional funds, real-world assets, and securities are being reimagined for chain rails. 2. Market resets like October’s remind us: leverage, speed and on-chain infrastructure must be matched with robust risk tools. 3. Chains that support interoperability, compliance frameworks, and tokenised-asset infrastructure stand to gain.

🌐 In short: October was a month of both acceleration and correction. The rails between crypto + TradFi keep merging, even as structural risks remind us of the work ahead. Cronos is committed to supporting that evolution — building open, efficient, and compliant infrastructure to bring global finance on-chain.