The cryptocurrency sector on October 28, 2026, was shaped by major updates from bitcoin treasury giant Strategy, ratings agency Moody’s, several leading exchanges, and key regulatory moves in Switzerland and South Korea.
Crypto market sentiment remains neutral
The Crypto Fear & Greed Index held steady at 51 on October 29, reflecting a neutral mood among investors. This index, published by alternative.me, equally weighs fear and greed, indicating neither significant optimism nor widespread anxiety in the market.
| Indicator | Value | Date |
|---|---|---|
| Fear & Greed Index | 51 | Oct 29, 2026 |
| Market sentiment | Neutral | Oct 29, 2026 |
A neutral reading typically signals a wait-and-see approach from traders, and does not indicate short-term price movement in either direction.
Strategy to offer daily dividends on four preferred stocks
Strategy, widely recognized as the largest bitcoin treasury company, secured shareholder approval to begin daily dividend payments for holders of four preferred securities. The revised dividend schedule will start with STRC in November, while three other preferred instruments are set to follow in January 2027.
The new approach changes the frequency at which preferred shareholders receive payouts, making distributions more regular. However, these dividends remain contingent on Strategy’s financial health and ongoing funding ability, similar to standard preferred securities.
Daily dividend payments for Strategy’s preferred securities mark a notable shift for shareholders, aligning more frequent returns with the company’s treasury management model.
Coinbase clarifies vendor data leak, denies breach
Coinbase, a leading United States-based cryptocurrency exchange, addressed reports of a data incident, stating that its systems were not compromised. The company attributed the exposure of some contact data to a security breach involving third-party analytics vendor Amplitude, which also impacted other Amplitude customers.
Coinbase reported that no unauthorized party accessed its core systems and confirmed the safety of customer funds. The exchange is notifying affected users and authorities, and reminded customers to beware of phishing attempts using leaked contact information.
Coinbase reiterated that customer funds remain safe and emphasized that the data incident was tied to a vendor, not to the exchange’s infrastructure.
Mini dictionary: Amplitude, a data analytics provider that helps track user behavior on web and mobile applications, experienced a security incident that affected some client data across several companies.
Moody’s assigns A2 rating to Ripple’s RLUSD stablecoin
Moody’s assigned an A2 long-term and P-1 short-term deposit rating to RLUSD, the stablecoin issued by Ripple subsidiary Standard Custody & Trust Company. RLUSD, worth around $2.6 billion, is primarily backed by Treasury bills and similar liquid US government assets, with the majority of reserves reportedly custodied by BNY. Moody’s noted the stablecoin targets 103% reserve coverage and enables eligible institutions to redeem tokens at par value within two business days.
Despite the strong ratings, Moody’s identified certain vulnerabilities. Standard Custody is not a bankruptcy-remote entity, and RLUSD holders lack direct legal ownership of reserves. However, the upcoming GENIUS Act, scheduled for 2027, is expected to enhance protection by excluding required stablecoin reserves from an issuer’s bankruptcy estate.
Mini dictionary: Standard Custody & Trust Company is a regulated entity that provides digital asset custody and escrow services, and acts as the issuer of RLUSD stablecoin under Ripple.
Bitwise increases long-term bitcoin price forecast
Bitwise, a prominent cryptocurrency asset manager, revised its long-term outlook for bitcoin, raising its 2036 price target to $1.6 million and projecting an annual return rate of 34%. The analysis includes a bear case of $130,686 and a bullish scenario of $3.67 million over the same period, illustrating the wide uncertainty in long-range crypto predictions.
| Scenario | 2036 BTC Price |
|---|---|
| Bear case | $130,686 |
| Base case | $1.6 million |
| Bull case | $3.67 million |
Bithumb and Korean financial firms suffer data incidents
Bithumb, South Korea’s second-largest crypto exchange, reported an unauthorized external access to its internal mobile groupware system, potentially exposing some customer information. Investigations are ongoing, but an industry source noted that a data leak occurred.
Other South Korean financial institutions also faced breaches. Brokerage Daishin Securities revealed a data leak affecting nearly 39,000 customers, and asset manager Mirae Asset Global Investments confirmed a hacking event. Earlier, the Financial Services Commission announced that attacks this month had led to leaks involving 100,000 accounts across 16 institutions, including banks, prompting regulatory scrutiny of security practices.
Regulatory and institutional developments
Switzerland’s financial regulator, FINMA, approved the country’s first Swiss-law bitcoin ETF for retail investors, bringing new avenues for direct crypto exposure under strict operational requirements. The fund has been classified as an alternative investment product.
Meanwhile, Deutsche Bank revealed a record quarterly inflow of €47 billion in new client funds in Q3, even as European bank stocks declined 7% since early September. The bank’s profit after tax stood at €1.9 billion for the period.
