This is what we talk about today:

• Bitcoin ETF inflows resumed with $192.3 million as Bitcoin rebounded from $65,000. On October 23rd, Bitcoin experienced a 3.3% decline, dropping to $66,649. Despite this, Bitcoin found support at $65,000 and rebounded, driven by renewed inflows into spot Bitcoin ETFs. BlackRock's IBIT ETF saw the most significant inflow, with investors contributing $317 million. This marked the fourth time in six trading days that IBIT attracted over $300 million in inflows, bringing its total to over $23 billion as of October 21st.
• Denmark is set to introduce a tax on unrealized crypto gains in new legislation. The Tax Law Council of Denmark has proposed a bill to impose taxes on unrealized gains and losses on crypto assets, which could take effect as early as January 2026. The proposal recommends incorporating all non-backed crypto-assets, such as Bitcoin, into the existing financial taxation framework. This means that under the inventory taxation model, crypto assets would be taxed similarly to stocks and bonds, with unrealized gains and losses subject to taxation. Senior crypto analyst Mads Eberhardt stated that the tax on unrealized capital gains would be 42%.
• Popcat hit a new all-time high, flipping Bonk and Floki. The meme coin Popcat (POPCAT) reached a new all-time high, surpassing Bonk and Floki in terms of market capitalisation. POPCAT's price increased by 17.8% in the past day, reaching $1.66 at the time of writing, and has risen by 80.3% over the last 30 days. Its market capitalisation now stands at $1.61 billion, up from $457 million in September. This surge was driven by several factors, including a jump in futures open interest, whale accumulation, and an uptick in meme coin outflows from centralised exchanges.
• The Radiant Capital hacker moved $52 million worth of crypto funds into Ethereum. The hacker responsible for the Radiant Capital exploit transferred approximately 20,500 Ether (worth around $52 million) from the Arbitrum and Binance BNB Chain networks to the Ethereum network. Radiant Capital experienced losses exceeding $50 million on October 16th due to a malware attack. This incident is believed to be one of the most sophisticated hacks in DeFi history, with attackers compromising the hardware wallets of at least three Radiant developers. The movement of stolen funds to the Ethereum network suggests an attempt to launder the funds through a crypto mixer, making recovery more challenging.