# Uptober is here!

*Markets are turning green, but let’s first catch up on everything with The Web3 Watch!!*

By [The Web3 Watch by Central DAO](https://paragraph.com/@centraldao) · 2025-10-03

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![](https://storage.googleapis.com/papyrus_images/c1dda9e3d143e56175cffb93ef22f434dca1dfd4804a5fc8d25fd58d27ce803d.png)

### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/2705.png) **TL;DR — This Week’s Crypto Highlights**

*   Bitcoin rockets past **$116K** as Uptober rallies the market.
    
*   UK wants to keep **$7B in seized BTC**, victims may get shortchanged.
    
*   **Lighter zk-rollup perps** go live, zero fees for retail + points hype.
    
*   **US shutdown** delays crypto ETFs but lawmakers still push ahead.
    
*   **VanEck files for Lido stETH ETF**, pushing ETH staking to institutions.
    

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### **Uptober Blessings — Bitcoin Breaks $116K!**

![](https://storage.googleapis.com/papyrus_images/f40539e8836321fcdb67cd5f9b897e5f57b29176d639bbd56a65ecd873c0f15c.png)

Bitcoin just smashed **$116K**, sending the **crypto market cap over $4 trillion**. Why? Strong ETF inflows, a dovish Fed, and the legendary Q4 “Uptober” trend ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f342.png).  
$60M shorts got liquidated, BTC dominance is climbing back to **59%**, and options data shows traders ditching downside protection. Historically, Q4 gives Bitcoin a **+50% median gain**. Some analysts now see **$125K+ by year-end**. Hodl tight fam. ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f680.png)

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### **UK vs Bitcoin — Who Gets the Bag?**

![](https://storage.googleapis.com/papyrus_images/730eed7ec5b740953d3df35a7438d5a24be4064ef51817731916404b835babae.jpg)

The **UK government** wants to keep most of the **61,000 BTC ($7B)** seized from Zhimin Qian’s 2018 fraud. The twist? **120,000 victims** are demanding their money back. But courts may only pay them in fiat at 2018 prices, leaving the state with billions in BTC gains. ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f3db-fe0f.png)  
Treasury insiders are even considering using this Bitcoin haul to plug a **£34B–£67B budget hole**. The High Court showdown starts in January. Question is: will the UK **hodl** or **dump**? ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f440.png)

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### **Lighter Turns On the Heat — zk Perps Go Live**

![](https://storage.googleapis.com/papyrus_images/e0a7468fc7fe582bac69f3a84adad1869df6e5ac3654c3c7d15170adc711ac77.png)

Lighter.xyz

Say gm to **Lighter**, the new **Ethereum-settled zk-rollup perp DEX**, now live on public mainnet ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f310.png).  
Unlike Hyperliquid (L1) or Aster (BNB Chain), Lighter locks user funds on Ethereum and verifies trades/liquidations with zk proofs. Traders get **CEX-level speed** with **Ethereum-grade security**.  
Retail traders = zero fees, HFT/APIs get charged. Oh, and Season 2 of their points program just dropped ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f440.png)… yes, people are already whispering **token airdrop**.

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### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f1fa-1f1f8.png) U.S. Shutdown Freezes Crypto ETFs

![](https://storage.googleapis.com/papyrus_images/a09ccb84d8ff6d743c164e3a51876da5e7ce4df646c8c13ee68ce6892712a0bb.jpg)

“Across the pond in the U.S., the government shutdown has put the brakes on SEC activity — which means spot Bitcoin and crypto ETF approvals are delayed. ETF issuers who were hoping for early October approvals are now stuck in limbo. But it’s not all bad news: the Senate Banking Committee is pushing ahead with a crypto market structure bill, and the Senate Finance Committee is still debating crypto taxes. Stablecoin yield rules? Still a battleground between banks and exchanges.”

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### **VanEck Bets Big on ETH Staking**

![](https://storage.googleapis.com/papyrus_images/d18c23f8b1c9c1391c40b11f4da4c5730155c84b071a20beed8c566d84248eb4.png)

**VanEck** has filed its **Lido Staked Ethereum ETF** in Delaware. If approved, this would let institutions earn **ETH staking rewards** without touching blockchain ops. Basically, Wall Street can now “stake without staking.” ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f911.png)  
The filing pumped **LDO token +7%**, as VanEck looks to outpace rivals like **BlackRock** and **Fidelity** in the **yield-bearing crypto products race**. With ETH staking demand climbing, this could be huge for mainstream adoption.

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### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f923.png) MEME OF THE WEEK ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f923.png)

![](https://storage.googleapis.com/papyrus_images/de97ee3c29af3f119f35d98b8827b9707a92aec2d1faec813b68df2054a1efed.png)

it's Uptober, then NOvemBEAR , DecemBULL , JanMOONary, we don't make the rules, it is culture.

Alright, that’s a wrap for this week's edition of **_The Web3 Watch_!** ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f680.png)  
See you all next week!

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*Originally published on [The Web3 Watch by Central DAO](https://paragraph.com/@centraldao/uptober-is-here)*