While the Blue Jays made their postseason push and the NHL season got underway, Canadians were keeping an eye on more than one scoreboard.
MARKET MOVES
Central Banks Cut Rates
This October brought a rate-cut double-header when the Bank of Canada (BoC) and the U.S. Federal Reserve each lowered their policy rates on the 29th. The Fed’s decision to trim by 25 basis points didn’t come as a surprise to most market watchers, but it did leave investors questioning what comes next. In his press conference, Fed Chair Jerome Powell said, “A further reduction in the policy rate at the December meeting is not a foregone conclusion—far from it,” signalling that policymakers remain cautious about the path ahead.
The combination of slower economic growth and persistent inflation has some wondering if the economy is moving toward stagflation, a period that challenges both households and policymakers. In his press conference, Fed Chair Jerome Powell said that “risks to inflation are tilted to the upside, and risks to employment to the downside,” a reminder that even with lower rates, the path ahead may not be straightforward.
On our side of the border, the BoC also cut rates, noting slower productivity and signs that the consumer economy is losing momentum. The overnight rate moved down by 25 basis points to 2.25 percent. Prices rose a little faster in September, though the Bank said it still expects inflation to ease over time.
Crypto Volatility Hits Records
Midway through the month, crypto markets experienced their largest liquidation on record. Friday, October 10, 2025, became one of the most dramatic trading days in crypto’s history. Markets shed more than $20 billion in leveraged positions within 24 hours as price swings and auto-deleveraging on perpetual futures platforms made it nearly impossible to lock in trades. Several major exchanges paused activity to steady volatility.
The sharp move was worse than events like Terra Luna’s collapse and the FTX failure, showing again how quickly sentiment can shift in digital-asset markets. The immediate trigger came from a combination of auto-deleveraging (ADL) and renewed trade tensions between China and the United States. Reports of expanded Chinese export controls and tariff threats from Washington set off a global sell-off across risk assets.
Trade Talks Ease Halloween Tensions
On October 30th, Chinese President Xi Jinping and U.S. President Donald Trump met in South Korea, resulting in what many are calling a temporary trade truce, though a formal deal has not yet been reached. Both sides appeared to benefit: Trump agreed to a 10% reduction in the previously imposed 30% tariff, while Xi pledged to increase efforts to curb China’s role in the fentanyl crisis and to expand purchases of American soybeans and other agricultural products. Markets climbed on Halloween after news of the Xi–Trump meeting signalled easing trade tensions.
NEWTON’S LAW
After all that movement in the markets, it’s time to switch from basis points to reward points. If you haven’t checked in on Newtie lately, you might be missing the biggest comeback of the season.
The last time we saw our hero Newtie, he was working in the mine when an unexpected explosion caused the ground to give way beneath him. It wasn’t clear if he would make it back to stacking Sats after that fall but it turns out this miner is a lot tougher than he looks.
Newt Loot Season 3 is live for a limited time, with new surprises waiting to be uncovered. Join for your chance to find the Daily GEM and rally friends to build stronger clans. Haven’t played yet? Start collecting in-app rewards before the season ends.
SIGNAL VS. NOISE
While Newt Loot players were chasing GEMs, some early crypto holders were moving something far rarer. It was reported this month that a dormant Bitcoin wallet from 2009 suddenly reactivated after 14 years, reviving debate about quantum security and Satoshi-era addresses.
150 BTC were moved from the wallet, worth about US$16.5 million at current prices, to another address, and left 3,850 BTC, worth around US$420 million, untouched. Some chain trackers have reported that they think it belongs to an early miner from Bitcoin’s experimental era.
Wallets with exposed public keys are most vulnerable to potential quantum computing attacks. Early Bitcoin wallets, including some linked to Satoshi Nakamoto, often used the pay-to-public-key (P2PK) format and would be most at risk from this type of attack. Reused addresses and certain exchange wallets are also susceptible, as their public keys are exposed multiple times.
A quantum computer, if advanced enough, could derive private keys from these public keys using complex algorithms and computational processes.
When it came to wallets, Satoshi advised against address reuse. It may not be bulletproof in every future scenario, but many in the computer science community still consider this suggestion to be one of the best ways individuals currently have to quantum-proof crypto assets.
Could this recent movement be connected to growing awareness of quantum-computing risks? Coordinating wallet migrations across decentralized groups is notoriously challenging. Early transitions to safer formats could ease pressure on the network later, preventing potential congestion if many users move simultaneously.
IN OUR ORBIT
From regulation to redemption, October’s headlines showed how fast things can shift in the digital economy.
GRAVITY GAUGE
Token movers in October
This month’s Gravity Gauge looks different. After the sharp sell-off on October 10, nearly every major token spent the rest of the month recovering lost ground.
⬆️ BNB was up 6 percent following reports of CZ’s pardon.
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