Evening Wrap: Hex Founder Arrested; Bitmine Reaches 4.9% ETH Supply

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Turkish Police Arrest Hex Founder Richard Heart in Multi-Agency Raid

Turkish authorities arrested Hex founder Richard Heart across 15 Istanbul properties following a December 2024 Interpol Red Notice from Finland alleging aggravated tax fraud, seizing $7 million in assets .

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Bitmine Treasury Expands to 6.04 Million ETH Valued at $15.1B

The NYSE-listed firm added 12,535 tokens over the past week, bringing its total $ETH holdings to 6,041,481, representing 4.9% of the circulating supply .

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JPMorgan Expands JPM Coin to Ethereum for Institutional Dollar Settlements

JPMorgan is launching its JPM Coin deposit token on Ethereum for institutional clients, expanding beyond its prior deployment on Base, allowing round-the-clock tokenized trade settlement .

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Strive Expands Bitcoin Treasury to 36,818 BTC Ahead of $700 Million SATS Settlement

Strive acquired 1,223 $BTC between Oct. 14 and Oct. 16 for an average of $81,734 per coin, bringing total holdings to 36,818 BTC, as a 7 million-share offering of 15% SATS preferred stock prepares to settle on Oct. 20 .

The numbers

Bitcoin traded at $81,916 (+1.2%), Ethereum traded at $2,398 (+1.9%), and the total crypto market cap reached $2.71T (+1.5%).

What to watch

• Corporate updates regarding the completion of the 5% supply acquisition goal for Bitmine and the percentage of remaining treasury tokens…
• Judicial proceedings and extradition hearings in Turkey regarding the Finnish tax fraud allegations against Richard Heart.
• Settlement of the 7 million SATS preferred shares on Tuesday, Oct. 20, and subsequent Strive treasury allocation disclosures.

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